Tag: Option

1844 Resources Announces Update Regarding Hawk Ridge Option Agreement
2023-12-01 07:17:20
Saskatoon, Saskatchewan–(Newsfile Corp. – December 1, 2023) – 1844 RESOURCES Inc. (TSXV: EFF) (the “Company” or “1844“) is pleased to announce that, further to the Company’s news releases dated March 6, 2023 and September 23, 2023, the Company has entered into an amended and restated option agreement (the “Amended and Restated Option Agreement”) with Nickel North Exploration Corp. (“NNX”) with respect to the option agreement between the parties dated March 6, 2023, as amended (the “Option Agreement”), relating to the Company’s option to acquire the Hawk Ridge Project. Pursuant to the Amended and Restated Option Agreement, the parties have agreed to amend the payment terms and conditions of the Option Agreement as follows:
1. Upon entering into the Amended and Restated Option Agreement, the Company paid NNX $15,000 in cash as a non-refundable deposit and, upon receiving TSX Venture approval of the Amended and Restated Option Agreement, the Company will pay NNX $335,000 in cash and issue to the Optionor 5,000,000 common shares in the capital of the Company.
2. The Company is now entitled to acquire a 20% undivided interest in the Hawk Ridge Project on the first anniversary of the date that is two business days following the approval of the Amended and Restated Option Agreement by the TSX Venture Exchange (the “Effective Date”) by paying $350,000 and issuing 4,000,000 common shares of the Company to NNX and incurring $500,000 of exploration expenditures before the first anniversary of the Effective Date (the “First Option”).
1. If the Company exercises the First Option, it can now acquire an additional 10% (for an aggregate 30%) undivided interest in the Hawk Ridge Project by paying $350,000 and issuing 4,000,000 common shares of the Company to NNX on the second anniversary date of the Effective Date, and incurring $500,000 of exploration expenditures before the second anniversary of the Effective Date (the “Second Option”).
1. If the Company exercises the Second Option, it can now acquire an additional 20% (for an aggregate 50%) undivided interest in the Hawk Ridge Project by paying $750,000 and issuing 3,000,000 common shares of the Company to NNX on the third anniversary date of the Effective Date, and incurring $1,000,000 of exploration expenditures before the third anniversary of the Effective Date (the “Third Option”).
1. If the Company exercises the Third Option, it can now acquire an additional 30% (for an aggregate 80%) undivided interest in the Hawk Ridge Project by paying $1,000,000 and issuing 3,000,000 common shares of the Company to NNX on the fourth anniversary date of the Effective Date, and incurring $2,000,000 of exploration expenditures before the third anniversary of the Effective Date (the “Fourth Option”).
1. If the Company exercises the Fourth Option, it can now acquire an additional 20% (for an aggregate 100%) undivided interest in the Hawk Ridge Project by paying $2,000,000 to NNX on the fifth anniversary date of the Effective Date (the “Fifth Option”).
Additionally, under the Option Agreement, if the Company did not satisfy the previous payment terms and conditions of the Second Option, the Company’s option to acquire the Hawk Ridge Project would terminate and the Company was return to NNX the undivided interest in the Hawk Ridge Project that the Company would have acquired upon the exercise of the First Option for nil consideration, resulting in the Company holding no interest in the Hawk Ridge Project. Now, pursuant to the Amended and Restated Option Agreement, if the Company does not satisfy the payment terms of the Third Option, the Company’s option to acquire the Hawk Ridge Project will terminate and the Company will return to NNX the undivided interests in the Hawk Ridge Project to be acquired upon the exercise of the First Option and the Second Option for nil consideration, resulting in the Company holding no interest in the Hawk Ridge Project.

The remaining terms of the Option Agreement are restated in the Amended and Restated Option Agreement.

Mr. Sylvain Laberge, President and CEO of the Company commented: “The option to acquire a 100% interest in the Hawk Ridge Project is transformational for 1844. Hawk Ridge is expected to become one of the flagship properties of the Company and is expected to add to our existing portfolio of copper and other critical mineral projects in coastal Quebec.”

For more details regarding the Option Agreement and Hawk Ridge Property, see the Company’s news releases dated March 6 and 7, 2023. Copies of the Company’s news releases are available under the Company’s SEDAR profile at www.sedar.com.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Nunavik Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

1844 RESOURCES INC.

(signed) “Sylvain Laberge“

Sylvain Laberge
President and CEO
514.702.9841
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FORWARD-LOOKING INFORMATION

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the Company’s option on the Hawk Ridge Project, the First Option, the Second Option, the Third Option, the Fourth Option, the Fifth Option, approval by the TSX Venture and the payment and issuance of common shares upon such approval. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions; the availability of additional exploration and mineral project financing; and Exchange approval.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include exploration or other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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December 1, 2023
Muzhu Mining Amends Option Agreement for Xiao Wa Gou Mining Property, Henan Province China
2023-11-29 07:36:23

Mr. James Sung Fu Tong reports:
November 29, 2023 – TheNewswire – Vancouver, B.C.; Muzhu Mining Ltd., (CSE:MUZU) (“Muzhu” or the “Company”) is pleased to announce that it has entered into an amendment to the Option Agreement with Lingbao Yida Mining Co., Ltd., previously announced on November 23, 2021.

Under the Option Agreement and the Amendment Agreement, Muzhu Mining Ltd., can earn up to an 80% interest in the Xiao Wa Gou (XWG) mining property by incurring $3 million in exploration and expenditures on the property over a 3-year period while also issuing three million seven hundred and fifty thousand (3,750,000) shares of Muzhu Mining Ltd., to Lingbao Yida Mining Co., Ltd.

Under the terms of the Amendment to the Option Agreement, Muzhu Mining Ltd can earn a 60% working interest in the XWG property upon completion of the following:
- Incurring expenditures on the XWG property totaling $3,000,000 consisting of: (i) $500,000 prior to November 22, 2024; (ii) $1,000,000 prior to November 22, 2025; (iii) $1,500,000 prior to November 22, 2026.
- Issuing 3,750,000 Muzhu Mining Ltd., shares consisting of: (i) 250,000 shares prior to February 19, 2024; (ii) 1,000,000 shares prior to February 19, 2024; iii) 1,000,000 shares prior to February 20, 2025; and iv) 1,500,000 shares prior to November 22, 2026.
A further 20% interest in the XWG property can be granted to Muzhu Mining Ltd., upon an independent valuation report at any time after the 60% earn in Option Agreement has been fulfilled.

ON BEHALF OF THE BOARD OF DIRECTORS

Dwayne Yaretz,

CEO

Muzhu Mining Ltd.

Phone: 778-709-3398

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Website: This email address is being protected from spambots. You need JavaScript enabled to view it.

Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. As well, Muzhu has executed two option agreements to acquire up to 80% of the Silver, Zinc, Lead XWG and LMM Properties in the Henan Province located in China.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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November 29, 2023
Purepoint Uranium Enters into Option Agreement with Foran Mining for Denare West Project
2023-11-20 12:03:50
Toronto, Ontario–(Newsfile Corp. – November 20, 2023) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (the “Company” or “Purepoint“) today announced that it has entered into an option agreement (the “Option Agreement“) with a wholly-owned subsidiary of Foran Mining Corporation (TSX: FOM) (“Foran”) pursuant to which Purepoint granted options to Foran to acquire up to 100% interest in Purepoint’s Denare West Project located in east-central Saskatchewan, approximately 55 kilometres west-southwest of Flin Flon, Manitoba (the “Property“). The Property is adjacent to and on trend with Foran’s McIlvenna Bay project.

Concurrently with the execution of the Option Agreement, Foran has agreed to invest $350,000 in a non-brokered private placement of 7,000,000 common share units (each, a “Unit“) of Purepoint at a price of $0.05 per Unit (the “Private Placement“). Each Unit is comprised of one common share of Purepoint and one common share purchase warrant exercisable at a price of $0.07 per share for a term of two years from the date of issue. The closing of the Private Placement is subject to approval by the TSXV. Purepoint intends to use the net proceeds of the Private Placement for general working capital purposes.

“We are excited to contribute to the Foran narrative, particularly their development of the region’s largest undeveloped VHMS deposit. We look forward to the work they will be carrying out on the Denare West property and its potential to add value to this already significant mining project.” said Chris Frostad, President & CEO of Purepoint. “We also appreciate Foran’s investment in the equity of our company as part of this transaction and mutual exposure to our respective efforts here in Saskatchewan.”

Pursuant to the Option Agreement,
- Foran has been granted the option (the “First Earn-in Option“) to acquire a 51% beneficial interest in the Property by incurring a total of $3,000,000 in qualifying exploration expenditures (“Expenditures“) on the Property over a period of up to four years from the effective date of the Option Agreement (the “First Expenditure Period“).
- Following the exercise of the First Earn-in Option, Foran will have the option (the “Second Earn-in Option“) to acquire an additional 29% beneficial interest in the Property by incurring an additional $3,000,000 in Expenditures on the Property over a period of up to two years following the end of the First Expenditure Period.
- Following the exercise of the Second Earn-in Option, Foran will have the final option to acquire the remaining 20% interest in the Property by making a payment in the amount of $10,000,000 (the “Final Purchase Option Price“) to Purepoint and granting a 2% net smelter returns royalty (“NSR“) to Purepoint.
- Foran has a multi-stage option to buy back the NSR royalty from Purepoint: initially, it can repurchase 1% NSR for $1,000,000 (the “First Royalty Option“) at any time before deciding to operate a mine commercially on the Property. Following this, subject to exercising the First Royalty Option and after 60 months of NSR payments, it has the option (the “Second Royalty Option“) to buy an additional 0.5% NSR for another $1,000,000. Finally, after 120 months of NSR payments and exercising the Second Royalty Option, it can acquire the remaining 0.5% NSR for $1,000,000 (the “Final Royalty Option Price“).
- Subject to the stock exchange approval and satisfaction of certain other conditions set out in the Option Agreement, Foran may pay the Final Purchase Option Price, the First Royalty Option Price, the Second Royalty Option Price and the Final Royalty Option Price by issuing common shares (“Foran Shares“) to Purepoint at a deemed price per share that is equal to the 20-trading day volume weighted average price of Foran Shares immediately preceding the date of the notice of exercise of the applicable option.
- At the end of the earn-in phases, if Foran does not elect to acquire Purepoint’s remaining interest in the Property, Foran and Purepoint will form a joint venture (the “Joint Venture“) whereby Foran will fund all operations of the Joint Venture until it completes a pre-feasibility study with respect to the Property.
Figure 1: Denare West Project Location

Figure 2: Compilation Map of Denare West Project showing 2022 Vertical Gravity Results

The transactions contemplated in the Option Agreement constitute a “Reviewable Transaction” under the policies of the TSXV and remain subject to approval by the TSXV. The Option Agreement shall become effective upon closing of the Private Placement and receipt of all requisite approvals from the TSXV.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates a uranium exploration pipeline of nine advanced projects in Canada’s Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds seven 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world’s richest uranium district.

About Foran Mining

Foran Mining is a copper-zinc-gold-silver exploration and development company, committed to supporting a greener future, empowering communities and creating circular economies which create value for all its stakeholders, while also safeguarding the environment. The McIlvenna Bay Project is located entirely within the documented traditional territory of the Peter Ballantyne Cree Nation. Foran Mining also owns the Bigstone Project, a resource-development stage deposit located 25km southwest of its McIlvenna Bay project.

McIlvenna Bay is a copper-zinc-gold-silver rich VHMS deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km West of Flin Flon, Manitoba and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran Mining’s ground in eastern Saskatchewan, a distance of over 225km.

McIlvenna Bay is the largest undeveloped VHMS deposit in the region. Foran Mining announced the results from its feasibility study on February 28, 2022, outlining that current mineral reserves would potentially support an 18-year mine life producing an average of 65 million pounds of copper equivalent annually. Foran Mining filed a NI 43-101 Technical Report for the McIlvenna Bay Feasibility Study on April 14, 2022. And its NI 43-101 Technical Report for the Bigstone Deposit resource estimate on February 11, 2022. Investors are encouraged to consult the full text of these technical reports which may be found under Foran’s profile on www.sedarplus.ca.

For further information please contact:

Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
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www.purepoint.ca

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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November 20, 2023
Signature Resources Announces Equity Financing and Option Grant

2023-11-06 15:04:38

Toronto, Ontario–(Newsfile Corp. – November 6, 2023) – Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S3) (“Signature” or the “Company”) is pleased to announce that the Company is offering a non-brokered private placement of flow-through shares (“FT Shares”) and non-flow-through shares (“NFT Shares”) for gross proceeds of up to C$600,000 (the “Offering”). Nearly twenty percent of the Offering is expected to be subscribed for by members of the Company’s board of directors and management.

Each FT Share is being offered at C$0.0275 per share and each NFT Share is being offered at a price of $0.025 per share. All securities issued pursuant to this proposed private placement will be subject to the Exchange Hold Period and legend accordingly.

The net proceeds from the Offering will be used for resource modelling and related deposit characterization, designing the 2024 drill program, ongoing exploration data compilation, and general working capital purposes. It is expected that twenty percent of the proceeds will be used for general working capital purposes with the remainder spent on exploration and deposit definition activities. Approximately twenty percent will be paid to consultants for resource modelling and drill program design activities. None of the proceeds will be used for payments to non-arm’s length parties or for investor relations service providers.

Option Grant

The Board of Directors has granted a combined total of 2,100,000 incentive stock options to the Board and Management of the Company. The options have an exercise price of $0.05, expire five years from the grant date. The options vest 25% immediately and 25% annually thereafter until the third anniversary.

About Signature

The Lingman Lake gold property (the “Property”) consists of 1,300 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 24,761 hectares. The Property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths. There has been over 28,000 metres of historical drilling done on the Property.

To find out more about Signature, visit our website at www.signatureresources.ca, or contact:

Dan Denbow
Interim CEO
416-840-6345
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Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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November 6, 2023
Rome Resources Announces Stock Option Grant

2023-11-06 09:18:41

Vancouver, British Columbia–(Newsfile Corp. – November 6, 2023) – Rome Resources Ltd. (TSXV: RMR) (FSE: 33R) (“Rome” or the “Company“) is pleased to announce that it has granted 250,000 incentive stock options (“Options”) to a director pursuant to its stock option plan. The Options have a three-year term and an exercise price of $0.26 per common share, and vest immediately.

About Rome Resources

Rome Resources Ltd. is a mineral exploration company that has entered into two option agreements and a binding term sheet to acquire direct and indirect interests in two contiguous properties situated in the Walikale District of the North Kivu Province in eastern DRC, which are collectively referred to as the “Bisie North Tin Project”. Rome has completed an initial phase of drilling on the project where it is responsible to fund exploration up to the completion of a definitive feasibility study.

Contacts

Investors / Shareholders
Mark Gasson
President, CEO & Director
P: (604) 687-6140

Media
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Rome Resources Ltd believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rome Resources Ltd disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to United States newswire services or for dissemination in the United States.

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November 6, 2023

Blackrock Silver Announces Amendment to Silver Cloud Lease and Option to Purchase Agreement

2023-10-27 03:07:13

Substantial Savings On Payments And Reduction of Work Obligations Realized

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2023) – Blackrock Silver Corp. (TSXV: BRC) (the “Company” or “Blackrock“) is please to announce that the Company has entered into a further amendment (the “Amendment“) to the mineral lease agreement between the Company and Pescio Exploration, LLC (the “Owner“) dated October 27, 2017, as amended June 1, 2019 (the “Lease“) which provides for the exploration, development, mining and option to purchase of the Silver Cloud project situated in Elko County, Nevada (“Silver Cloud“).

Pursuant to the terms of the Amendment:

(i) the annual cash payments required by the Company to maintain the Lease in good standing have been reduced and amended as follows:

Payment Date	Payment Amount (US$)
By January 27, 2024;	$75,000
October 27, 2024	$100,000
October 27, 2025	$125,000
October 27, 2026	$125,000
October 27, 2027 to October 27, 2031	$150,000 per year
all subsequent anniversaries during the term of the Lease	$175,000 per year (subject to annual adjustment for inflation)

(ii) the Company shall have the right, exercisable any time within 10 years of the date of the Amendment, to buy down the 3.5% royalty payable to the Owner to 2% by way of cash payment to the Owner of US$4.5 million;

(iii) in substitution of the previous drilling commitment on Silver Cloud provided for in the Lease, the Company is now required to incur work expenditures on Silver Cloud in a minimum amount of: (A) US$500,000 on or before October 27, 2030; and (B) a further US$500,000 on or before October 27, 2033, representing a cumulative total work commitment of $1,000,000;

(iv) the Company’s option to purchase 100% of Silver Cloud (the “Purchase Option“) has been amended to provide for a purchase price of: (A) US$5,000,000 if the Purchase Option is exercised on or before October 27, 2029; and (B) US$7,000,000 (subject to annual inflationary increases) if the Purchase Option is exercised after October 27, 2029; and

(v) the Company has agreed to pay to the Owner a one-time cash payment of US$75,000 in the event that the Company sells all or the majority of its interest in the mining claims comprising Silver Cloud or enters into or forms a joint venture on Silver Cloud wherein another party may earn an interest in at least fifty-percent (50%) of Silver Cloud.

Andrew Pollard, President and Chief Executive Officer of the Company, commented, “The restructuring of the underlying terms at Silver Cloud allow Blackrock to realize substantial savings, both immediate and over the long term, creating a compelling opportunity for our investors as we seek to see our early-staged bonanza grade discovery (see January 17, 2023 news release) advanced. With its large land package immediately adjacent to two of Nevada’s highest-grade historic gold mines, Midas and Hollister, both of which are owned by Hecla, this deal makes us a stronger company over the coming years, while freeing up our treasury in the short term to be focused on the rapid advancement of our flagship Tonopah West project.”

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground in Nevada, Blackrock is a junior precious metal focused exploration company driven to add shareholder value via the drill bit. With 6.12 million tonnes grading 508.5 g/t silver equivalent for an inferred resource of 100.04m oz AgEq at its flagship Tonopah West project, and an emerging bonanza-grade gold discovery at Silver Cloud, the Company has a proven track record of exploration success. In addition to its gold and silver project portfolio, the Company is credited with a lithium discovery, the Tonopah North project, which is under option to a lithium exploration group.

For further information, please contact:

Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
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Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation: the timing of lease payment for Silver Cloud pursuant to the terms of the Lease and the Amendment. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the ability of the Company to make the payments and incur the work expenditures on Silver Cloud in accordance with the terms of the Lease and the Amendment; conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including: the ability of the Company to successfully acquire Silver Cloud pursuant to the Purchase Option; the ability of the Company to make payments and incur expenditures as required under the Lease and the Amendment; the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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October 27, 2023

GFG Resources Exercises Option and Earns 100% in Montclerg Gold Project in Prolific Timmins Gold District

2023-10-24 13:11:47

SASKATOON, Saskatchewan, Oct. 24, 2023 (GLOBE NEWSWIRE) — GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has completed its earn-in requirements to earn 100% of the Montclerg Gold Project (“Montclerg” or the “Project”) pursuant to the previously announced option agreement (the “Agreement”) with International Explorers and Prospectors Inc. (“IEP”)(see news release: “GFG Expands Presence in Timmins – Acquires the Montclerg Gold Project East of the Prolific Timmins Gold District”).

Pursuant to the Agreement, GFG issued its final share payment of 3,535,168 common shares of the Company to IEP, exceeded the C$1.0 million in exploration expenditures and transferred C$1.0 million in assessment credits to IEP. IEP will retain a net smelter royalty of up to 2% on certain claims.

“We are pleased to finalize the acquisition of Montclerg which comprises a key component of our Goldarm Property,” stated Brian Skanderbeg, President and CEO of GFG. “The consolidated property is strategically located along major structural corridors, in proximity of four mills and multiple producing gold mines. Over the last two years, our exploration approach has been aggressive but calculated, returning numerous broad, high-grade gold intercepts within a robust and expandable gold system. With control of over 30 kilometres of strike, we are well-positioned to continue implementation of our regional exploration strategy. We thank IEP for their support and collaborative efforts in the advancement of the Project and look forward to continuing to work with them as relevant and loyal shareholders.”

About the Montclerg Gold Project

The Montclerg Gold Project is located 48 kilometres (“km”) east of the prolific Timmins Gold Camp and is surrounded by multiple current and historic gold mines and significant power and road infrastructure. The Project consists of five patented mining claims and 110 unpatented mining claims that cover 10 km of the highly prospective Pipestone Deformation Zone which hosts multiple gold deposits and mines in one of the most prolific gold districts in the world. The Project is within 10 kms of the Stock Mine and Mill and the Taylor Gold Mine. The two gold systems at Montclerg, MC and CX, occur north and south of the Pipestone Deformation Zone, respectively, and are associated with east-northeast trending fault zones that bisect the metasedimentary, felsic volcanic, mafic volcanic and felsic porphyritic rocks of the area.

About GFG Resources Inc.

GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 km southwest of Casper, Wyoming, U.S.

For further information, please contact:

GFG Resources Inc.
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
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Website: www.gfgresources.com

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, the Company’s future exploration plans with respect to its property interests and the timing thereof, the prospective nature of its properties, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada and the United States will continue to support the development of mining projects in Canada and the United States. In addition, the similarity or proximity of other gold deposits to the Company’s projects is not necessary indicative of the geological setting, alteration and mineralization of the Rattlesnake Hills Gold Project, the Goldarm Property, the Pen Gold Project and the Dore Gold Project.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.

Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.

Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.

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October 24, 2023
Ashley Gold Expands Tabor Property with Option on Former Producing Sakoose Mine
2023-10-24 05:41:10

Mr. George Stephenson reports:
Highlights
- Option incudes a 5km fold hinge trend between the Tabor and Sakoose Mine
- Historical production at Sakoose reported as 8,828 tons at 11.9 g/t Au*
- Tabor assay results to be finalized this week
Calgary, Alberta – TheNewswire – October 24th, 2023 – Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce entering into an option agreement to earn 100% of contiguous claims directly east of the Tabor property including the past producing Sakoose Mine subject to a 1.5% Net Smelter Royalty (NSR).

Darcy Christian, President of Ashley, commented, “I am very excited to increase our footprint in the Tabor area. Both the Tabor and Sakoose Mines are located just south of a major regional fold hinge with virtually no exploration occurring between the two. This gives us a great opportunity to build a district scale play.”

About the Sakoose Property

The Tabor and Sakoose mines are located approximately 5km apart from each other 500m south of a major regional fold hinge (Figure 1). No drilling has occurred between these two mineralized zones and is considered greenfield exploration. In addition to the Tabor-Sakoose trend, historic grab samples have been taken to the south that likely correlate to the sampling at the Santa Maria pit and Lee Lake occurrences. The total combined property at over 4,000 hectares has the potential for district scale discoveries.

The Sakoose Mine is located 7.5km south of Highway 17 on the Sandy Point Road providing year-round access. The mine produced from 1897 until 1902 when the mill burned down. Total production is reported at 8,828 tons with an average grade of 11.9 g/t Au*. Historical drilling reporting is incomplete, however in 1988, a drill program was completed testing below the known workings. Many of these intercepts showed continuation of mineralization down to 200m vertical depth (Figure 2). Potential for an additional trend is seen from the SAK-18 intercept. Figure3 shows an east-west magnetic anomaly that is trending with the main Sakoose vein. This anomaly extends approximately 400m west of the known drilling which has the potential for vein continuation along strike.

Darcy Christian, President of Ashley, commented, “The Sakoose property has a lot of untested potential in my opinion. The known mineralization is open below 200m as well as to the west with a magnetic anomaly correlating with the main Sakoose vein trend. I look forward to testing the Sakoose area in an upcoming drill program.”

Update on Tabor Drill Program Assays.

Assays on the maiden Tabor drill program are expected to be finalized this week.

Terms of the Sakoose Option
- $8,000 cash payment and 200,000 shares on execution of agreement
- stAnniversary – $12,000 cash payment
- nd Anniversary – $18,000 cash payment
- rd Anniversary – $30,000 cash payment or, at election of Ashley, $14,000 cash payment and $20,000 payable in shares based on previous 20-day Volume Weighted Average Price (VWAP)
- 1.5% Net Smelter Royalty (NSR) with option to purchase 0.5% back at $600,000 reducing NSR to 1%
*Please note that assay values denoted with an “*” within this release are from previous operators, considered to be “historical” in nature and therefore are non-compliant with respect to NI 43-101 standards, and have not been independently verified by Ashley Gold. The values have been extracted from publicly available government resources including Assessment Reports and MinFile inventory details and it is unknown what type of quality-control programs were performed at the time.

The Qualified Person responsible for the technical content of this press release is Shannon Baird, P.Geo, Exploration Manager of Ashley Gold Corp.

ABOUT ASHLEY GOLD CORP.

Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in the Alto-Gardnar Project subject to a 0.5% royalty, and an option to earn 100% of the Sakoose claims subject to a 1.5% NSR.

Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration, and if warranted, development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects, currently focused in northwestern Ontario within the Eagle-Wabigoon-Manitou Lakes Greenstone Belts.

The responsibility of this release lies with Mr. Darcy Christian, President and CEO • +1 (587) 777-9072 • This email address is being protected from spambots. You need JavaScript enabled to view it. , may be contacted for further information. www.ashleygoldcorp.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARD-LOOKING STATEMENTS

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
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October 24, 2023
Silver Spruce Resources Announces Amendment to Option Agreement on its Newfoundland Properties

2023-10-23 05:34:23

BEDFORD, NS / ACCESSWIRE / October 23, 2023 / (TSXV:SSE) – Silver Spruce Resources Inc. (the “Company”) announced today the amendment to the Option Agreement dated September 7, 2021 on its Newfoundland properties. Under the terms of the Amended Option Agreement dated October 13, 2023, the cash component of the option payments to the Vendors can made in cash or alternatively in all or in part by the issuance of common shares of the Company to the Vendors upon mutual agreement of the Vendors and the Company.

The second anniversary option payment will now consist of $50,000 cash and the issuance of 3,750,000 common shares of the Company to the Vendors of which 2,500,000 common shares are being issued in lieu of a $25,000 cash payment.

The Amended Option Agreement and the amendment of the second anniversary option payment are subject to the approval of the TSX Venture Exchange.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, and up to 50% interest in each of Colibri’s Jackie Au and Diamante Au-Ag projects. Silver Spruce has signed Definitive Agreements to acquire100% interest in the MysteryAu project in the ExploitsSubzone Gold Belt, Newfoundland and Labrador, and the Pino de Plata Ag project in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Michael Kinley, CEO
(902) 402-0388
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This email address is being protected from spambots. You need JavaScript enabled to view it.
www.silverspruceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements,” Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the amended option agreement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

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October 23, 2023
Silver Viper Minerals Further Amends Rubi-Esperanza Option Agreement

2023-10-20 15:37:22

VANCOUVER, BC, Oct. 20, 2023 /CNW/ – Silver Viper Minerals Corp. (the “Company” or “Silver Viper“) (TSXV: VIPR) (OTC: VIPRF) announced today that, further to its press release April 6, 2023, it has amended the terms of the Rubi-Esperanza Option Agreement (the “Agreement“) with respect to its right to purchase 100% ownership of three mineral concessions covering 2,102 hectares at the La Virginia Gold-Silver Project (“La Virginia” or the “La Virginia Project“), located in the Sierra Madre of eastern Sonora State, Mexico.

The amendment clarifies that the US$775,000 (or C$1,042,142.50, based on a fixed exchange rate of US$-C$ of 1.3447 set out in the amendment) of Shares issuable by the Company to satisfy as a portion of the final payment under the Agreement in June 2024, will be issued with a deemed price per Share equal to the higher of (i) the closing price of the Shares on the TSX Venture Exchange on June 24, 2024 or (ii) C$0.095. In addition, the amendment also sets out that the Company shall not issue more than 10,969,922 Shares in satisfying this portion of the consideration due to the vendors. As previously announced by the Company, in addition to such issuance of Shares, the Company will also make a cash payment of US$200,000 to the vendors.

In satisfaction of the Company’s payment of the US$1,500,000 (or C$2,017,050, based on an exchange rate of US$-C$ of 1.3447) of Shares due to the vendors in April 2023 under the amended Agreement, the Company confirms it issued the vendors an aggregate of 16,808,750 Shares at a deemed price per share of C$0.12 on April 25, 2023.

All Shares issued in connection with the Agreement will be subject to a statutory 4-month hold period from their respective date of issue. In addition, for a one year period following the expiry of the applicable statutory hold period, the vendors may not sell such Shares and then may only do so after providing at least 2 weeks’ notice to the Company of their intention to sell any such Shares.

The vendors are at arm’s length to the Company and its Affiliates or Associates (as such terms are defined in the TSXV Corporate Financial Manual).

About the Project

La Virginia is located 220 kilometres east-northeast of Hermosillo, Sonora and is prospective for low-sulphidation epithermal precious metal mineralization. The property and historical exploration database were acquired by way of option agreements made with two distinct parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks, hosted primarily by andesitic volcanics, often in close spatial association to, or cross-cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. Silver Viper’s reconnaissance program identified key targets and trends which are of primary interest and subsequently filed strategic reductions in claims to attain the current project surface area of 6,882 hectares.

Silver Viper has completed a total of 141 drill holes at La Virginia for a combined 44,687 metres. Exploration drilling has paused awaiting the processing of the geophysical survey data along with the interpretation of mapping and sampling data. Drilling has been completed by Hermosillo-based drill contractor, Globexplore Drilling Corp. Drilling by the Company to date builds upon a sizeable database of recent historical work.

About the Company

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS,

Steve Cope
President and CEO

Forward Looking Information

Information set forth in this press release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company’s financial statements available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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October 20, 2023
M3 Metals Receives Regulatory Approval and Makes Initial Payments Under Daggett Lithium Project Option Agreement

2023-10-19 13:50:19

Vancouver, British Columbia–(Newsfile Corp. – October 19, 2023) – M3 Metals Corp. (TSXV: MT) (FSE: X0V) (“M3 Metals” or the “Company”). The Company wishes to announce that it has received the regulatory approval required for it to make its initial payments under the Daggett Lithium Project (the “Project”) mineral property option agreement (the “Agreement”) and has made those payments.

Details regarding the Project can be found in the Company’s news release dated September 29, 2023.

On May 9, 2023, the Company announced that it had entered into the Agreement to acquire up to an eighty (80%) percent interest in the Project, a mineral property prospective for lithium and located in San Bernardino County, California.

The Agreement, dated effective May 8, 2023, is between the Company and IMEx Consultants Inc. (the “Vendor”). The Agreement provided that the Company could earn a sixty (60%) percent interest in the Project by: (i) issuing 2,000,000 shares (the “Initial Shares”) to the Vendor; (ii) paying to the Vendor the sum of USD$150,000 (the “Option Payment”) upon regulatory approval of the Agreement; and (iii) making USD$400,000 in exploration expenditures on the Project within twelve (12) months of regulatory approval of the Agreement. The Company can acquire an additional twenty (20%) percent interest, for a total eighty (80%) interest in the Project by issuing an additional 2,000,000 shares to the Vendor and making an additional USD$2,000,000 in exploration expenditures on the Project within thirty-six (36) months of regulatory approval of the Agreement.

The Company has issued the Initial Shares and has also paid the Option Payment. It will have earned a sixty (60%) percent interest in the Project should it make the USD$400,000 in exploration expenditures within twelve (12) months. The Initial Shares are subject to a four month hold period and may not be sold until February 19^th, 2024.

Regulatory approval of the Agreement was subject to the written consent of shareholders holding over 50% of the issued and outstanding shares of the Company because the transaction could result in the creation of a new control person, IMEx Consultants Inc.

The transactions contemplated in the Agreement constituted a Fundamental Acquisition (as that term is defined in the policies of the Exchange).

No finder’s fees were payable in connection with the Agreement and the Agreement is not a related party or non-arm’s length transaction. The Agreement was not subject to the provisions of MI 61-101. There are no royalties, underlying option or other agreements related to the Property other than the Agreement.

ABOUT M3 METALS CORP.

M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email This email address is being protected from spambots. You need JavaScript enabled to view it. or call investor relations at (604) 669-2279.

M3 METALS CORP.
“Kosta Tsoutsis”
Kosta Tsoutsis, CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals (including environmental, habitat and other similar requirements or approvals), the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States, California or other jurisdictions and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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October 19, 2023
Rackla Metals Exercises Option Agreements on the HIT Project

2023-10-17 14:07:17

Vancouver, BC, Oct. 17, 2023 (GLOBE NEWSWIRE) — Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) announces that Rackla Metals Inc. (“Rackla”) has exercised previously announced exploration option transaction on the HIT Project in the Yukon.

HIT Property Option Agreement

The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the HIT property from Aben Resources Ltd. (TSXV-ABN). Pursuant to the HIT Option Agreement dated September 28, 2022, Rackla has completed the following:

I. paid CAD$25,000 cash to Aben upon signing of the agreement,
II. within 12 months of signing:
• paid an additional CAD$25,000 cash to Aben,
• issued 250,000 common shares of Rackla to Aben, and
• incurred in excess of the minimum requirement of $100,000 in exploration expenditures on the HIT property.

The shares issued to Aben are subject to a resale restriction which expires on February 17, 2024.

Aben will be granted a 0.5% net smelter returns royalty interest in the Project.

About Aben Minerals:

Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The Company has 18.7 million shares outstanding.

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For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s website at www.abenminerals.com.

ABEN MINERALS LTD.

“Riley Trimble”
______________________
Riley Trimble
President & CEO

For further information contact:
Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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October 17, 2023
Goldgroup Mining Announces Exercise of Cerro Prieto Purchase Option

2023-10-17 08:04:54

Vancouver, British Columbia–(Newsfile Corp. – October 17, 2023) – Goldgroup Mining Inc. (TSX: GGA) (OTC PINK: GGAZF) (BMV SIX: GGAN.MX) (“Goldgroup” or the “Company“) hereby announces that, further to the Mining Exploitation and Option to Purchase Agreement described in Company’s news release dated July 7, 2023 and related filings on Sedar+, the Company has exercised its option to purchase all of the issued and outstanding common shares of Minera Cerro Esperanza S.A de C.V. (“MER”) which owns the Company’s previously held Cerro Prieto mining concessions. The Company has elected to settle the full option price of US$1,850,000 in common shares of the Company and will issue 25,067,500 common shares to Calu Opportunity Fund LLP (“Calu”), the owner of MER and a material shareholder of the Company. As a result of the transaction, Calu will own, directly and indirectly, 55,297,000 common shares of the Company representing approximately 66.83% of the Company’s issued and outstanding share capital. The completion of the transaction is subject to final TSX approval.

The Company is not issuing any securities, or paying any bonus, commission or finder’s fees in respect of the transaction.

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

About Goldgroup

Goldgroup is a Canadian-based mining Company that operates the Cerro Prieto heap-leach gold mine located in the State of Sonora, Mexico and is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico.

For further information on Goldgroup, please visit www.goldgroupmining.com

On behalf of the Board of Directors

Investor Relations
Toll Free: 1-877-655-ozAu (6928)

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

The TSX has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain information contained in this news release, including any information relating to future financial or operating performance, may be considered “forward-looking information” (within the meaning of applicable Canadian securities law) and “forward-looking statements” (within the meaning of the United States Private Securities Litigation Reform Act of 1995). These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Actual results could differ materially from the conclusions, forecasts and projections contained in such forward-looking information.

These forward-looking statements reflect Goldgroup’s current internal projections, expectations or beliefs and are based on information currently available to Goldgroup. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors including, without limitation: receipt of all required stock exchange and regulatory approvals; the scope, duration and impact of the COVID-19 pandemic; the scope, duration and impact of regulatory responses to the pandemic on the employees, business and operations; uncertainties related to actual capital costs operating costs and expenditures; production schedules and economic returns from Goldgroup’s projects; uncertainties associated with development activities; uncertainties inherent in the estimation of mineral resources and precious metal recoveries; uncertainties related to current global economic conditions; fluctuations in precious and base metal prices; uncertainties related to the availability of future financing; potential difficulties with joint venture partners; risks that Goldgroup’s title to its property could be challenged; political and country risk; risks associated with Goldgroup being subject to government regulation; risks associated with surface rights; environmental risks; Goldgroup’s need to attract and retain qualified personnel; risks associated with potential conflicts of interest; Goldgroup’s lack of experience in overseeing the construction of a mining project; risks related to the integration of businesses and assets acquired by Goldgroup; uncertainties related to the competitiveness of the mining industry; risk associated with theft; risk of water shortages and risks associated with competition for water; uninsured risks and inadequate insurance coverage; risks associated with potential legal proceedings; risks associated with community relations; outside contractor risks; risks related to archaeological sites; foreign currency risks; risks associated with security and human rights; and risks related to the need for reclamation activities on Goldgroup’s properties, as well as the risk factors disclosed in Goldgroup’s Annual Information Form , MD&A and Information Circular for the Shareholders Meeting. Any and all of the forward-looking information contained in this news release is qualified by these cautionary statements.

Although Goldgroup believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Goldgroup expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as may be required by, and in accordance with, applicable securities laws.

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October 17, 2023

Emperor Metals Intersects 15.8 g/t Au over 10.8 m on Duquesne West Property Under Option from Globex

2023-10-17 07:03:28

ROUYN-NORANDA, Quebec, Oct. 17, 2023 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) pleased to report on progress by Emperor Metals Inc (AUOZ – CSE, EMAUF-OTCPK, 9NH-FSE) on the Duquesne West Gold property under option from Duparquet Assets, 50% owned by Globex (click to original option press release), located in Duparquet township, Quebec, north of Rouyn-Noranda.

To date, Emperor have completed 8,239 m of the initial +8,000 m drill program, having recently completed drill hole DQ23-13. Emperor previously announced partial assays from holes DQ23-01 and DQ23-02 (click to Globex press release dated September 12, 2023).

Results included:

DQ23-01:	5.63 g/t Au over 11.70 m, including 7.98 g/t Au over 5.75 m
DQ23-02:	3.97 g/t Au over 10.65 m, including 5.34 g/t Au over 5.00 m and
	1.69 g/t Au over 25 m, including 3.12 g/t Au over 7.00 m

As regards these two holes, Emperor has now announced additional mineralized intersections as follows:

DQ23-01:	2.77 g/t Au over 4.15 m from 659.7 m to 663.85 m
	0.62 g/t Au over 22.6 m from 794.40 m to 817.0 m
	0.33 g/t Au over 28.8 m from 914.15 m to 942.95 m

DQ23-02	1.99 g/t Au over 2.0 m from 517.2 m to 519.2 m
	2.69 g/t Au over 2.5 m from 677.1 m to 679.6 m

Assay results from new holes DQ23-03, 04 and 05 are now announced as follows:

DQ23-03	5.09 g/t Au over 1.1 m from 417.75 m to 418.85 m
	6.14 g/t Au over 2.0 m from 941.20 m to 943.20 m

DQ23-04	0.45 g/t Au over 17.50 m from 318.50 m to 336.00 m
	6.23 g/t Au over 2.75 m from 433.70 m to 436.45 m
	4.24 g/t Au over 3.00 m from 449.00 m to 452.00 m
	19.01 g/t Au over 1.20 m from 548.30 m to 549.50 m
	0.45 g/t Au over 34.70 m from 571.30 m to 606.00 m
	2.95 g/t Au over 1.25 m from 651.35 m to 652.60 m

DQ23-05	5.01 g/t Au over 2.5 m from 133.00 m to 135.50 m
	0.50 g/t Au over 24.4 m from 257.20 m to 281.60 m
	2.00 g/t Au over 3.1 m from 391.90 m to 395.00 m
	15.85 g/t Au over 10.80 m from 556.00 m to 566.80 m, including 27.24 g/t Au over 3.4 m
	0.52 g/t Au over 18.35 m from 575.65 m to 594.00 m

	It is believed that Hole DQ23-05 extends the targeted gold zone an additional +100 metres along plunge.

Cross Section DQ23-05 – Emperor Metals

True widths of holes DQ23-01 to 23-04 estimated at 90%
True widths of hole DQ23-05 estimated at 80-90%

(Click here to access to current Emperor Metals press release dated October 17, 2023)

Emperor state they “Continue to see significant intervals of gold grades amendable for a conceptual open-pit mining environment above a high-grade underground mine” (see figures below).

Ultimate Pit Concept – Images 1 and 2 – Emperor Metals

The Duquesne West Property has a historical NI 43-101 Inferred Resource of 727,000 tonnes grading 5.42 g/t Au (using a gold price of $960.00 US/oz. Au). The NI 43-101 report is available on Globex’s website.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour.	Foreign Private Issuer 12g3 – 2(b)
	CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14^th Street Rouyn-Noranda, Quebec Canada J9X 2J1	Tel.: 819.797.5242 Fax: 819.797.1470 This email address is being protected from spambots. You need JavaScript enabled to view it. www.globexmining.com

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

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October 17, 2023

Nickelex Resource Signs Definitive Agreement to Option in on Four Projects in the Thompson Nickel Belt, Manitoba
2023-10-17 06:33:11
Vancouver, British Columbia–(Newsfile Corp. – October 17, 2023) – Nickelex Resource Corporation (TSXV: NICK) (“Nickelex” or the “Company”) reports that it has signed a definitive agreement with CanAlaska Uranium Ltd. (“CanAlaska”) on October 13, 2023, to earn up to an 80% interest in four projects, consisting of the Strong, Strong Extension, Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt (“TNB”), Manitoba (the “Projects”). (See Figure 1)

The definitive agreement provides that Nickelex may earn:
- a 49% interest in the Projects by making a cash payment of $35,000, issuing 5,000,000 common shares in the capital of the Company (“Shares”) and incurring exploration expenditures of $2,000,000 over the first 2 years;
- an increased interest to 70% by making an additional cash payment of $50,000, issuing 7,500,000 additional Shares and incurring additional exploration expenditures of $3,500,000 by the end of the third year; and
- an increased interest to 80% by making an additional cash payment of $65,000, issuing 25,000,000 additional Shares and incurring additional exploration expenditures of $3,500,000 by the end of the fifth year. In the event any Share issuance would cause CanAlaska to become a new “Control Person” (as such term is defined in TSXV policies), then Nickelex will be required to obtain shareholder approval to same before issuing such Shares in accordance with TSXV policies. If shareholder approval is not received, Nickelex may then pay the outstanding obligation in cash in lieu of Shares based on the fair market value of the Shares at the time of payment.
The Company will also pay CanAlaska $3,000,000 after completing a positive feasibility study on the Projects (such payment may be satisfied in Shares at Nickelex’s sole discretion, subject to shareholder approval in the event such issuance would cause CanAlaska to become a new Control Person).

This arm’s length transaction is considered a Fundamental Acquisition under the policies of the TSX Venture Exchange. The definitive agreement is subject to TSX Venture Exchange approval.

During the 49% and 70% earn-in stages, CanAlaska will be the operator of the Projects and will be entitled to charge an operator fee. Nickelex will have deciding voting rights on annual exploration programs while sole funding at the various option stages and will have the right to assume operatorship after successfully earning a 70% interest in the Projects.

After the successful completion of the last of the 49%, 70% and 80% earn-in stages, the parties will enter into a joint venture agreement, under which the parties will either co-contribute on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. Any party diluting to a 10% interest will automatically forfeit its interest in the Projects and in lieu thereof will be granted a 2% net smelter return royalty on the Projects, half of which may be purchased by the other party at its sole discretion for $2,000,000 at any time prior to the commencement of commercial production.

An area of mutual interest will extend two km from the outer boundary of the four properties comprising the Projects, excluding all properties within such area that are currently held by CanAlaska.

The Projects, located 35 km north of Thompson, Manitoba, consist of four Mineral Exploration Licenses (“MEL”), the Strong, Strong Extension, Moak North and Wilson MELs, and cover an area of 30,283 hectares. The Projects are at the north end of the TNB and cover rock lithologies similar to host rocks of other major nickel deposits in the TNB. The Company is planning a $2 million exploration program over two non-contingent stages of exploration, an initial phase of $500,000 to refine drill targets by detailed ground geophysics, with a second phase 3,500 metres of 10 – 12 diamond drill holes at an estimated cost of $1,500,000.

Exploration on the Projects was initiated in the late 1950s, and to date, 139 diamond drill holes have been completed on the properties, with 126 holes drilled prior to 1980, and an additional 13 holes drilled in the early 2000s. Historical drillholes predominantly targeted EM anomalies associated with magnetic anomalies, and several holes successfully intersected the favourable Opswagan Group and several intersected rocks of the Pipe Formation. Sulphides are abundant in many holes, however, nickel bearing intersections were limited to 1 – 3 metre widths of 0.1 – 0.2% nickel. The geophysics completed in 1998 (EM and magnetics) and 2007 (VTEM) on the Strong MEL and subsequent interpretation has resulted in the identification of 14 high priority targets that have had only limited drill testing. Preliminary ground geophysics is required on these targets to detail and prioritize the drill sites. It is estimated that ground geophysics will establish 10 – 12 targets for drilling.

In summary, Nickelex is well-structured with an experienced geologic team, management group, and Board of Directors, and with an exciting portfolio of projects in the critical metal EV sector.

The Company also reports that it has granted incentive stock options to directors, officers and consultants to purchase an aggregate 3,650,000 common shares. The options are exercisable at a price of $0.05 per share for a period of five years and are subject to the policies of the TSX Venture Exchange.

Nickelex is focused on large Class 1 Nickel Deposit Discoveries in Canada and delivering the critical metals needed to power future EV demands and continued stainless steel growth.

John R. Kerr. P. Eng., is the President and director of Nickelex Resource Corporation and a Qualified Person as defined by National Instrument 43-101. He has read and approves the technical content of this release.

On behalf of the Board of Directors,

“John Kerr”

John Kerr, President, Nickelex Resource Corporation

For further information, please visit Nickelex’s website at www.nickelexresource.com or contact us at 604.641.2759 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the completion of the property transaction, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Nickelex Resource Corporation’s projects, and the availability of financing for Nickelex Resource Corporation’s projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Nickelex Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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October 17, 2023
Rackla Metals Exercises Option Agreements on HIT, SER and Astro properties in Yukon and NWT
2023-10-17 04:15:29
Vancouver, British Columbia – TheNewswire – October 17, 2023 – Rackla Metals Inc. (TSX-V:RAK) (“Rackla” or the “Company”) is pleased to announce that it has exercised three previously announced exploration option transactions on the HIT and SER properties in Yukon, and the Astro property in Northwest Territories. The three properties (see Figure 1) are within the Company’s Astro Intrusive Complex and are being explored for Reduced Intrusion-Related Gold System (RIRGS) mineralization.

HIT Property Option Agreement

The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the HIT property from Aben Resources Ltd. (TSXV-ABN). Pursuant to the HIT Option Agreement dated September 28, 2022, Rackla has completed the following:

I. paid CAD$25,000 cash to Aben upon signing of the agreement,

II. within 12 months of signing:
- paid an additional CAD$25,000 cash to Aben,
- issued 250,000 common shares of Rackla to Aben, and
- incurred in excess of the minimum requirement of $100,000 in exploration expenditures on the HIT property.
The shares issued to Aben are subject to a resale restriction which expires on February 17, 2024.

SER Property Option Agreement

The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the SER property from Sabre Gold Mines Corp. (TSX-SGLD). Pursuant to the SER Option Agreement dated September 29, 2022, Rackla has completed the following:

I. paid CAD$50,000 cash to Sabre upon signing of the agreement,

II. within 12 months of signing, paid an additional CAD$300,000 final payment in a combination of 655,021 common shares of Rackla and $150,000 cash to Sabre.

The shares issued to Sabre are subject to a resale restriction which expires on February 17, 2024.

Astro Property Option Agreement

The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the Astro property from Orogen Royalties Inc. (TSXV-OGN). Pursuant to the Astro Option Agreement dated September 1, 2022, Rackla has completed the following:

I. issued to Orogen 120,000 common shares of Rackla upon signing of the agreement,

II. within 12 months of signing:
- paid an additional CAD$382,000 final payment by the issuance of 1,705,357 common shares of Rackla to Orogen,
- incurred in excess of the minimum requirement of $250,000 in exploration expenditures on the Astro property, and
- made arrangements to extinguish the CAD$40,000 security bond put in place by Orogen with the NWT mining authority.
The shares issued to Orogen are subject to a resale restriction which expires on January 29, 2024.

The Company is excited to have exercised these three agreements and looks forward to furthering exploration within the Astro Intrusive Complex and follow-up on the significant results obtained so far from the 2023 exploration program.

Figure 1. Region of Rackla Metals’ Astro, HIT and SER properties along the Yukon and Northwest Territories.

Qualified Person

Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.

About Rackla

Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting RIRGS (Reduced Intrusion-Related Gold System) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.

ON BEHALF OF THE BOARD

Simon Ridgway,
CEO and Director

Tel: (604) 801-5432; Fax: (604) 662-8829
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.racklametals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s proposed exploration activities. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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October 17, 2023
Westward Gold Announces Amendment to Toiyabe Option Agreement
2023-10-16 06:05:07
Vancouver, British Columbia – TheNewswire – October 16, 2023 – Westward Gold Inc. (CSE:WG) (OTC:WGLIF) (FSE:IM50) (“Westward” or the “Company”) is pleased to announce that it has executed an amending agreement (the “Amendment”) with Minquest Ltd. (“Minquest”, or the “Optionor”) to revise the terms of the option agreement (the “Option Agreement”) as it relates to the Toiyabe Gold Project in Lander County, Nevada (“Toiyabe”). Under the terms of the Option Agreement, which was assigned to Westward by Starcore International Mines Ltd. on April 19, 2021 (see press release dated April 22, 2021), the Company has the option to acquire a 100% ownership interest in Toiyabe from Minquest.

Pursuant to the Amendment executed on October 12, 2023, the upcoming final payment of US$300,000 in cash (due on or before October 15, 2023) has been modified as follows:
- US$100,000 in cash, which was paid on October 13, 2023
- US$200,000 in common shares of the Company (the “Shares”), to be issued on January 15, 2024
The Shares issued in relation to the Amendment will be priced based on the trailing 30-day volume-weighted average price on the Canadian Securities Exchange ending on January 12, 2024, and the daily USD/CAD exchange rate published by the Bank of Canada on the same date. The Shares will be subject to a statutory 4-month hold period expiring on May 16, 2024. Westward may also increase the aggregate value of the Shares paid to Minquest on January 15, 2024, to account for any costs incurred by the Optionor between that date and the execution of the Amendment.

Andrew Nelson, CFO of Westward, noted: “We would like to sincerely thank Minquest for their continued support over the last 2.5 years. Our ongoing partnership, and their willingness to accept equity as payment, speaks volumes as to their belief in our flagship project and the strides Westward has made in advancing it. Both parties would like to see our cash reserves allocated to exploration activities, and this transaction will certainly help to serve that purpose.”

About Westward Gold

Westward Gold is a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon, and East Saddle Projects located in the Cortez Hills area of Lander County, Nevada, and the Coyote and Rossi Projects located along the Carlin Trend in Elko County, Nevada. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.

For further information contact:

Colin Moore
President, CEO & Director
Westward Gold Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.westwardgold.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed, to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as “expect”, “believe”, “anticipate”, “intend”, “estimate”, “potential”, “on track”, “forecast”, “budget”, “target”, “outlook”, “continue”, “plan” or variations of such words and phrases and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or the negative connotation of such terms.

Such statements include, but may not be limited to, information as to strategy, plans or future financial or operating performance, such as the Company’s expansion plans, project timelines, expected drilling targets, and other statements that express management’s expectations or estimates of future plans and performance.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Additional risk factors and details with respect to risk factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company’s latest management discussion and analysis under “Risks and Uncertainties”, which is available under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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October 16, 2023

Tribeca Resources Agrees Extension of Gaby-Totito Property Purchase Option

2023-10-16 04:23:13

16 OCTOBER, 2023 TheNewswire – VANCOUVER, BC – Tribeca Resources Corporation (TSXV:TRBC) (OTC:TRRCF) (“Tribeca Resources”; the “Company”) is pleased to announce that it has reached an agreement (the “Extension Agreement”) with the owners (the “Vendors”) of the Gaby-Totito property located in the Coquimbo province of Chile (the “Property”) to extend a purchase option agreement entered into between the Company and the Vendors on March 15, 2019, as amended, restated, supplemented or otherwise modified from time to time (the “Purchase Option Agreement”), under which the Company has the option to purchase a 100% interest in the Property (the “Purchase Option”).

Under the Extension Agreement, the deadline of the final purchase payment due to the Vendors under the Purchase Option Agreement has been extended for a period of twelve months (the “Extension”) in consideration of the Company paying the Vendors a one-time US$50,000 premium upon execution of the Extension Agreement and making a 10% partial payment on the original Purchase Option expiry date.

The revised acquisition timetable significantly reduces the Company’s funding requirements for 2024 and provides Tribeca with additional time to focus on growing the Gaby discovery towards a first resource estimate.

The payment terms in the Purchase Option Agreement have been amended such that the remaining payments due to exercise the Purchase Option areas follows:

Payment deadline	New payment schedule	Prior payment schedule
On singing of extension (October 2023)	US$50,000 (paid)	N/A
Before fifth anniversary (March 2024)	US$200,000	US$2,000,000
Before sixth anniversary (March 2025)	US$1,800,000	N/A

The Company will continue to pay to the Vendors exploration levy payments (the “Exploration Levy Payments”) equal to 5% of exploration expenditures incurred on the Property during the Extension. Further, during the Extension, the frequency of the Exploration Levy Payments will change from annual to semi-annually. Cumulative Exploration Levy Payments will remain capped at US$500,000.

For further details on the Purchase Option Agreement, please refer to the Company’s 24 October 2022 Filing Statement with respect to the reverse takeover between Tribeca Resources Ltd and Hansa Resources Limited, located on SEDAR+.

Tribeca CEO, Dr. Paul Gow commented:

“The Extension Agreement reinforces our ability to be nimble in our pursuit of shareholder value and adapt to market conditions. We remain committed to the rapid growth and development of the Gaby discovery and other targets identified at the La Higuera IOCG project.”

About Tribeca Resources

Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.

Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.

Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. The 822 hectare Gaby concession area is held under the Purchase Option; with a 1% NSR Royalty granted to the Vendors), with the remainder of the concessions being outright owned (100%) by Tribeca Resources. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR+ on 24 October 2022.

On behalf of Tribeca Resources Corporation

Paul Gow		Thomas Schmidt
CEO and Director		President and Director
This email address is being protected from spambots. You need JavaScript enabled to view it.		This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 604 685 9316		+1 604 685 9316

Cautionary Note

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to anticipated business plans or strategies, including exploration projects, regulatory approvals and exercise of the Purchase Option.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of the Company to obtain approval from the TSX Venture Exchange, the ability of the Company to make the Exploration Levy Payments as well as all other payments which are a condition precedent to exercising the Purchase Option and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.

There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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October 16, 2023

Nobel Resources Withdraws from Option to Acquire the Pircas Verdes Project in Chile

2023-10-10 04:01:54

TORONTO, Oct. 10, 2023 (GLOBE NEWSWIRE) — Nobel Resources Corp. (TSX–V: NBLC; OTCQB: NBTRF) (the “Company” or “Nobel”) has withdrawn from its option to acquire the Pircas Verdes project (the “Project”) in Chile pursuant to the terms of the Pircas Verdes option agreement (see the Company’s November 18, 2022 press release for further details).

As reported by Nobel on June 21, 2023, during the surface mapping at Pircas Verdes 7 samples from different pulses of intrusive rocks were collected and analyzed for age dating. The objective of this work was to determine when the various intrusive pulses mapped on the Project were emplaced and determine if the intrusive phases were related to the Miocene porphyry belt. Miocene age rocks host several world class porphyry deposits in Chile. More specifically, the Pelambres and Pachon deposits that have 2,125 mton @0.64% CuT / 180ppm Mo and 3,300mton @0.47% CuT respectively occur within 20 kilometers of the Pircas Verdes property.

Results obtained from the age dating indicate that the emplacement time of the different granite porphyry pulses at Pircas Verdes fluctuated between 68.5 and 79 million years ago, corresponding to the Cretaceous period and not the Miocene which is the age of the major deposits in the area. The rocks surrounding the Pelambres mine also belong to the Cretaceous period, however, the mineralization occurs in the Miocene intrusive pulses outcropping in the mine.

Although it is possible that porphyry style mineralization can be found on the Project, the Cretaceous systems are characterized by lower tonnage and are less likely to achieve dimensions required for a large-scale commercial operation.

According to Vern Arseneau, COO of Nobel, “The Pircas Verdes property hosts alteration zones and copper mineralization in outcrops at various locations. Had the age date corresponded to the major Miocene mineralizing event this prospect would have been highly compelling.”

Nobel is currently evaluating opportunities in an effort to reactivate its business and build shareholder value.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.

About Nobel

Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The Company has a team with a strong background of exploration success.

For further information, please contact:
Vincent Chen
Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.nobel-resources.com

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the prospectivity of the Project, the mineralization of the Project, the withdrawing from the option to acquire the Project, the Company’s ability to identify and acquire new projects and restart its business and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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October 10, 2023

Hercules Silver Enters into Lease Option Agreement for Copper-Gold Porphyry Target in Hercules Mining District

2023-10-02 05:06:46

Toronto, Ontario–(Newsfile Corp. – October 2, 2023) – Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) (“Hercules Silver” or the “Company“) is pleased to announce it has entered into a lease option agreement (the “Agreement“) between the Company, Anglo-Bomarc, U.S., Inc., a wholly owned subsidiary of the Company (the “Lessee“) and local prospector Merrill Palmer (the “Lessor“), dated September 27, 2023, which grants Hercules Silver the option to acquire a 100% interest in the Mineral property, comprising eighty-seven (87) unpatented lode mining claims within the Mineral mining district (“Mineral” or the “Property“) located on Bureau of Land Management (“BLM“) administered lands, 14 miles southwest of the Company’s flagship Hercules property in Washington County, Idaho.

Chris Paul, CEO and Director of the Company, noted: “We’ve entered into a lease option agreement to secure another key piece of ground in the Hercules mining district, which the Company believes shows strong potential to emerge into a significant copper porphyry belt. The Hercules Copper Belt, as it’s referred to internally, represents a trend of underexplored copper porphyry targets with excellent discovery potential. Relative to Hercules, the Mineral Project appears to be the next best developed prospect in the district and adds another compelling copper-gold porphyry target to the portfolio. We are highly encouraged by Mineral’s historical drilling, strong soil geochemistry and similar geological setting to the Hercules project.”

About the Mineral Property

The Mineral Property was staked by renowned prospector, Merrill Palmer, who previously staked and discovered the Palmer VMS Project in Alaska. Mr. Palmer resides in the nearby town of Oxbow, Oregon, and has been prospecting the Hercules and Mineral mining districts for the past 15 years, including staking of the Mineral Property in 2011.

The Mineral mining district was so-named after prospectors discovered rhyolite-hosted silver-copper-lead-zinc-bearing replacement mineralization in the area during the 1870s. A town site was established, and small-scale mining began in the 1880s and continued in earnest until the repeal of the Sherman Silver Purchase Act by U.S. President Cleveland in 1893, which caused a collapse in the silver price and decimated the silver mining industry. The mines and smelters at Mineral shut down at that time, and subsequent mining was very sporadic and conducted at a small scale through to 1950. The district has been essentially dormant ever since, apart from a few years of historical exploration during the late 1960s/early 1970s, but has never had a modern, systematic exploration approach applied to it.

Cyprus Mines Corporation (“Cyprus“) acquired a position in the district in 1968, after reconnaissance work indicated the presence of two potential deposit types: rhyolite-hosted, replacement-style silver-copper-lead-zinc mineralization on the southern half of the Property (similar in nature to the near-surface mineralization style that occurs at Hercules) and porphyry copper-gold style mineralization, hosted in potassium-rich dioritic intrusive rocks which underlie the rhyolite and outcrop on the northern half of the Property.

Cyprus carried out exploration activities between April of 1968 and February of 1970, consisting of geological mapping, geochemical soil surveys, a 17 line-mile IP-resistivity geophysical survey, and a 40-hole program of reverse circulation, churn, and core drilling. Cyprus’s exploration efforts were focused on near-surface silver mineralization, amenable to bulk mining methods. Although they intersected narrow, high-grade silver-bearing structures – including up to 7 meters grading 701 g/t Ag and 3.5% Cu in MDD-4^[1],2 a hole drilled between the historical Boone and Enterprise mines, on an inlying (adjacent) patented mining claim currently held by a 3^rd party – they terminated the program without evaluating the copper-gold porphyry potential in the underlying and adjacent intrusive rocks which outcrop on the northern half of the Property. Merrill Palmer has provided the Company with significant exploration data from these historical exploration programs by Cyprus.

Cyprus’s soil survey outlined a >400 ppm Cu-in-soil anomaly over an approximate area of 1.5 km by 3 km, which overlies a broad zone of anomalous IP chargeability associated with the potassium-rich dioritic intrusions¹.

Cyprus drilled just two holes into the copper porphyry target zone. These holes were drilled prior to Cyprus conducting their IP survey. A 2014 geophysical inversion of the IP data shows that the holes were both drilled at the northeast edge of a weaker portion of the anomaly, as shown in Figures 1-3. Regardless, holes MDD-1 and MDD-2 both intersected copper mineralization accompanied by distal alteration (propylitic) that typically surrounds the outer margin of a porphyry copper system. Gold and molybdenum were not assayed for at the time, however modern sampling indicates the presence of both metals within the porphyry target. MDD-2 assayed 266 m of 0.17% Cu from 5 m depth to the end of the hole at 271 m. Hole MDD-1 assayed 52 m of 0.13% Cu from 70 m to 122 m, and 151 m of 0.11% Cu from 151 m to end-of-hole at 302 m^1,[2]. This grade of mineralization is consistent with distal propylitic alteration, which was historically logged by Cyprus throughout these holes. The main body of the chargeability anomaly, as outlined by the purple dashed lines on Figures 1-3, has not yet been tested.

In 2013, Newmont Corporation (“Newmont“) carried out an evaluation of the Property and collected 41 select rock grab samples at mineralized showings and 213 soil samples on a regular 100m spaced grid that covers a portion of the porphyry target. The soil results revealed a strong copper-gold-molybdenum anomaly, with values ranging up to 6,370 ppm Cu, 206 ppb Au, and 65 ppm Mo, over 1.8 kilometers in length^[3]. The soil anomaly is consistent with a porphyry copper target that remains open for expansion. Select rock grab samples returned up to 30.3 g/t Au, 852 ppm Mo and 5.9% Cu. Figures 1-3 present the anomalous geochemistry and IP chargeability associated with the porphyry copper-gold zone.

In 2014, Radius Gold Inc. (“Radius“) leased the Property from Merrill Palmer and flew a large airborne magnetic and radiometric survey, carried out selective rock and soil sampling and carried out a modern inversion of the digitized historical IP geophysical data. Geophysical inversions provide machine interpreted 3D models of both resistivity and chargeability data. A depth slice of the 3D chargeability model is presented on Figures 1-3.

More recently, prospecting work undertaken by the Lessor, Merrill Palmer, has reported the existence of 0.1 to 1 m thick quartz-tourmaline veins within the intrusion that grade up to 20.1 g/t Au and 5% Cu to the southeast of the historical Jessie mine³. This zone has not been tested by drilling.

Figure 1: Copper in Newmont’s 2013 soil samples and select grab samples³, IP chargeability depth slice, and historical drill collars with labels for MDD-1, MDD-2, and MDD-4. Note that the IP survey was carried out after the 1969 drill program and the >1km central and ~1km eastern chargeability anomaly have not yet been tested. MDD-2 returned 266 m of 0.17% Cu (Au and Mo not assayed for) from 5 m depth in distal propylitic alteration¹

Figure 2: Gold in Newmont’s 2013 soil samples and select grab samples3, IP chargeability depth slice, and historical drill collars with labels for MDD-1, MDD-2, and MDD-4. Note that the IP survey was carried out after the 1969 drill program and the >1km central and ~1km eastern chargeability anomaly have not yet been tested. MDD-2 returned 266 m of 0.17% Cu (Au and Mo not assayed for) from 5 m depth in distal propylitic alteration¹

Figure 3: Molybdenum in Newmont’s 2013 soil samples and select grab samples³, IP chargeability depth slice, and historical drill collars with labels for MDD-1, MDD-2, and MDD-4. Note that the IP survey was carried out after the 1969 drill program and the >1km central and ~1km eastern chargeability anomaly have not yet been tested. MDD-2 returned 266 m of 0.17% Cu (Au and Mo not assayed for) from 5 m depth in distal propylitic alteration¹

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties. The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property and Hercules believes the work completed by historical operators was performed to a professional standard, but has not independently confirmed the results.

Terms of the Agreement

Pursuant to the terms and subject to the conditions of the Agreement, the Company and/or the Lessee will be required to make lease payments in accordance with the following schedule:

Payment Date	Cash Payments	Share Consideration
Within five business days of TSXV Approval	US$100,000	$0
September 27, 2024	US$60,000	US$60,000*
September 27, 2025	US$70,000	US$70,000*
September 27, 2026	US$80,000	US$80,000*
September 27 2027	US$80,000	US$80,000*
September 27, 2028	US$80,000	US$80,000*
September 27, 2029	US$80,000	US$80,000*
September 27, 2030	US$80,000	US$80,000*

*The share consideration issuable pursuant to the Agreement will be based on the 10-day volume weighed average price (“VWAP“) of the Company’s common shares (“Common Shares“) on the TSX Venture Exchange (the “TSXV“) prior to the applicable payment date.

Upon execution of the Agreement, the Company shall also pay the annual maintenance fees for the claims. The Agreement provides the Lessee with certain rights, including but not limited to, the right to access, enter, occupy, improve, explore, use, market, sell and dispose mineral and mineral substances on or from the Property.

At any time prior to the eighth anniversary of the Agreement, the Lessee has the right to purchase the Property for an aggregate of US$3 million (the “Option“), comprised of US$1.5 million in cash and Common Shares equal to US$1.5 million at a deemed value per Common Share equal to the 10-day VWAP of the Common Shares on the TSXV on the day preceding the delivery of the Common Shares to Lessor pursuant to the Option. In the event that the Option is exercised, the Lessee will receive credit for all lease payments previously made pursuant to the Agreement, which will serve to reduce the cash and Common Share value owed upon potential exercise of the Option.

At the conclusion of the eight-year term, if Lessee elects not to purchase the Property pursuant to the Option, then Lessee has the sole and exclusive right and discretion to continue to lease the Property by providing the Lessor with: (i) annual lease payments of US$160,000 comprising of US$80,000 in cash and Common Shares valued at US$80,000, at a deemed price per Common Share equal to the 10-day VWAP of the Common Shares on the TSXV on the day preceding the anniversary of the Agreement; and a 2% net smelter return royalty from the sale of all minerals on the Property.

In the event that the Lessee pays an aggregate total of US$2,000,000 in royalties, then the Lessee may reduce the royalty rate to 1% upon payment of a one-time lump sum of US$1,000,000 to Lessor. Thereafter, Lessor shall receive a 1% net smelter return royalty for production on any or all unpatented claims within the Property. If Lessee does not elect to “buy down” the Royalty, then Lessor shall receive a 2% net smelter return royalty for production on any or all unpatented claims within the Property.

The Agreement remains subject to approval by the TSXV.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“). Hercules believes the work completed by historical operators was performed to a professional standard, but has not independently confirmed the results.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.

The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The Company is well positioned for growth through the drill bit, having completed extensive surface exploration consisting of soil & rock sampling, geological mapping, IP geophysics.

The Company’s management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Chris Paul
CEO & Director
Telephone +1 (604) 449-6819
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking information contained in this press release may include, without limitation, the expectation that the Company will fulfil its obligations under the Agreement and make the required payments; exploration plans and expected exploration and drilling results at the Property, results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

^[1] Jones, K., and Worthington, J.E., 1970, The Mineral Project: Current Status and Potential. For Cyprus Mines Corporation.

^[2] Worthington, J.E., 1969. Mineral District Final Report – Exploration. For Cyprus Mines Corporation.

[3] Reid, D., 2014. Mineral Mining District, Idaho. Presentation, March 2014.

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October 2, 2023

Universal Copper Amends Poplar Property Option Payment Terms
2023-09-19 12:09:46
VANCOUVER, BC / ACCESSWIRE / September 19, 2023 / Universal Copper Ltd. (“Universal Copper” or the “Company”) (TSX Venture:UNV)(Frankfurt:3TA2) is pleased to announce it has re-negotiated the previous agreement with Doctors Investment Group Ltd. (the “Vendor”) whereby the companies have agreed to amend the remaining payment schedule for the Poplar Copper Project (“Poplar”) as set out in the original Option Agreement dated November 17^th, 2017 as amended March 9, 2018, May 17, 2018, and May 25, 2019.

The Company maintains its option to earn a 100% interest in the Poplar property located in British Columba, Canada, and in consideration for extending the time in which to fulfil the Company’s obligation as set out below, the Company and the Vendor have agreed to the following:

Schedule of remaining Cash Payments as follows:
- Pay $150,000 to the Vendor by November 17th, 2023; and
- Pay $250,000 to the Vendor by December 15th, 2024; and
- Pay $500,000 to the Vendor by December 15th, 2025; and
- Pay $750,000 to the Vendor by December 15th, 2026; and
- Pay $4,000,000 to the Vendor by December 15th, 2027.
Clive Massey, Universal Copper’s CEO, stated, “We are pleased that Universal has successfully negotiated an amended payment schedule with the vendor. This will enable the Company to focus its financial resources on exploiting the exploration potential that we believe exists at the Poplar Copper Project. We are eager and optimistic to expand the higher-grade mineralization as well as initiating further exploration on some of the outlying targets.”

About Poplar

The 61,566-hectare Poplar Project hosts a current undiluted indicated mineral resource of 152.3 million tonnes grading 0.32 per cent copper, 0.009 per cent molybdenum, 0.09 g/t gold and 2.58 g/t silver and an undiluted inferred mineral resource of 139.3 million tonnes grading 0.29 per cent copper, 0.005 per cent molybdenum, 0.07 g/t gold and 4.95 g/t silver. The mineral resource estimate has a cut-off grade of 0.20% copper. Universal Copper cautions investors mineral resources, which are not mineral reserves, do not have demonstrated economic viability.

Poplar lies in a historic mining region, located 35km from the Huckleberry Mine and 42km from Equity Silver Mine, where low snowfalls will allow year-round work. The road accessible property is bisected by a 138 Kva Hydro electric line and lies 88km from the rail head at Houston and 400km from the deep-water port at Prince Rupert by rail.

1. Giroux, G.H., 2012. MINERAL RESOURCE UPDATE On The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Effective Date: March 30, 2012.

2. Norton, C., Huang, J., and Lui, D., Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. A NI43-101 Technical Report prepared by Tetra Tech Canada Inc. for Surge Copper Corp. EFFECTIVE DATE: MARCH 9, 2021.

3. Christensen, K., Connaughton, G.R., and Ogryzolo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and

Imperial Metals Corporation November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016.

4. Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITED NI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019

5. Sun Summit Minerals Corp. News Release dated May 11, 2021.

Qualified Person

The technical content of this New Release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC) a member of the Company’s Advisory Board and a Qualified Person under National Instrument 43-101.

About Universal Copper

Universal Copper Ltd. is a Canadian-based copper exploration company focused on the acquisition and exploration of copper properties. The Company’s management team has many years of experience in exploration, finance, and efficient public company management. Universal’s current focus is on advancing the Poplar Copper Project, one of the most advanced pre-production copper projects in British Columbia with a historic 43-101 resource.

For additional information, please visit the Company’s website at www.universalcopper.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Clive Massey”
Clive H. Massey
President & CEO

For further information, please contact:
Dave Langlais
Phone: (778) 316-5105
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential,” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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September 19, 2023
Ivanhoe Electric Announces Closing of Public Offering and Exercise of Underwriters’ Option

2023-09-19 04:13:21

Aggregate Gross Proceeds from the Offering and the Exercise of the Underwriters’ Option will be Approximately $184 Million

PHOENIX, AZ / ACCESSWIRE / September 19, 2023 / Ivanhoe Electric Inc. (NYSE American:IE; TSX:IE) (“Ivanhoe Electric”), Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the closing on September 18, 2023 of the previously announced underwritten public offering of 11,851,852 shares of Ivanhoe Electric’s common stock at a public offering price of US$13.50 per share. In addition, Ivanhoe Electric received notice from the underwriters on September 18, 2023, of the full exercise of their option to purchase an additional 1,777,777 shares of common stock from the Company.

The aggregate gross proceeds from the offering and the exercise of the underwriters’ option will be approximately $184 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Ivanhoe Electric. The sale of the underwriters’ option shares is expected to close on September 21, 2023, subject to customary closing conditions.

Ivanhoe Electric intends to use the net proceeds of the offering for a preliminary feasibility study on the Santa Cruz Project, mineral rights payments, drilling and other exploration activities and for other working capital and general corporate purposes.

BMO Capital Markets and J.P. Morgan are acting as the joint book-running managers for the offering.

A registration statement on Form S-3 (No. 333-273195) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was automatically declared effective on July 10, 2023. The shares being offered in this offering are being offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. A final prospectus supplement relating to the offering was filed with the SEC on September 14, 2023, and is available on the SEC’s website at http://www.sec.gov. Before investing in this offering, you should read each prospectus supplement and the accompanying prospectus relating to the offering in their entirety as well as the other documents that Ivanhoe Electric has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, email: This email address is being protected from spambots. You need JavaScript enabled to view it.; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

A final MJDS prospectus supplement relating to the offering was filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada (except Québec) (the “Canadian Regulators”) on September 14, 2023 and is available under Ivanhoe Electric’s SEDAR+ profile at www.sedarplus.ca. Copies of the final MJDS prospectus supplement and accompanying final base MJDS prospectus relating to the offering may be obtained from the underwriters at the addresses set out above and under Ivanhoe Electric’s profile on SEDAR+ at www.sedarplus.ca.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In obtaining the approval of the Toronto Stock Exchange of the offering, Ivanhoe Electric relied on the exemption set forth in Section 602.1 of the TSX Company Manual available to “Eligible lnterlisted Issuers”, since Ivanhoe Electric’s common stock is also listed on the NYSE American and had less than 25% of the overall trading volume of its listed securities occurring on all Canadian marketplaces in the period between February 28, 2023 and the date on which application was made to TSX to approve the offering.

About Ivanhoe Electric

We are a U.S. company that combines advanced mineral exploration technologies (Typhoon™ and Computational Geosciences Inc.) with electric metals exploration projects predominantly located in the United States, headlined by the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah. Our mineral exploration efforts focus on copper as well as other metals, including nickel, vanadium, cobalt, platinum group elements, gold, and silver. We also operate a 50/50 joint venture with Saudi Arabian Mining Company Ma’aden to explore for minerals on ~48,500 km2 of underexplored Arabian Shield in the Kingdom of Saudi Arabia.

Contact Information

Investors: Valerie Kimball, Director, Investor Relations 720-933-1150

Forward-Looking Statements

This press release contains statements that constitute “forward looking information” and “forward-looking statements” within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the expected closing date of the offering and the use of proceeds from the offering are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including the ability to satisfy the closing conditions of the underwriters’ option; management’s discretion over the use of proceeds of the offering; we have no mineral reserves, other than at the San Matias project; we have inferred resources that may never be upgraded to a higher category of resource or reserve; we have a limited operating history on which to base an evaluation of our business and prospects; we depend on our material projects for our future operations; our mineral resource calculations at the Santa Cruz Project are only estimates; actual capital costs, operating costs, production and economic returns may differ significantly from those we have anticipated; the title to some of the mineral properties may be uncertain or defective; our business is subject to changes in the prices of copper, gold, silver, nickel, cobalt, vanadium and platinum group metals; we have claims and legal proceedings against one of our subsidiaries; our business is subject to significant risk and hazards associated with exploration activities, mine development, construction and future mining operations; we may fail to identify attractive acquisition candidates or joint ventures with strategic partners or be unable to successfully integrate acquired mineral properties or successfully manage joint ventures; our success is dependent in part on our joint venture partners and their compliance with our agreements with them; our business is extensively regulated by the United States and foreign governments as well as local governments; the requirements that we obtain, maintain and renew environmental, construction and mining permits are often a costly and time-consuming process; our non-U.S. operations are subject to additional political, economic and other uncertainties not generally associated with domestic operations; and our operations may be impacted by the COVID-19 pandemic, including impacts to the availability of our workforce, government orders that may require temporary suspension of operations, and the global economy. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements described in or incorporated by reference in Ivanhoe Electric’s preliminary prospectus supplement relating to this offering and accompanying base prospectus that form a part of the registration statement on Form S-3, as amended, filed with the SEC and preliminary MJDS prospectus supplement relating to the offering and accompanying final base MJDS prospectus filed with Canadian securities commissions. Ivanhoe Electric expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release. We caution you not to place undue reliance on these forward-looking statements.

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September 19, 2023
Radius Gold and Volcanic Gold Mines announce modification to Option Agreement to include the Motagua Norte project
2023-09-18 04:19:25
September 18, 2023 – TheNewswire – Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU) (“Radius” or the “Company”) and Volcanic Gold Mines Inc. (“Volcanic”) are pleased to announce that they have modified the Option Agreement signed in 2020 (see Radius News Release September 3, 2020) to include Radius’s Motagua Norte project in exchange for the Banderas project. The work that the Volcanic team has completed to date has demonstrated that Motagua Norte is a high grade orogenic gold system with compelling drill targets.

Highlights
- Under the modified Option Agreement, Volcanic has an option to earn a 60% interest in the Holly and Motagua Norte projects if Volcanic spends US$7M on exploration of the properties within 48 months from March 2021, being the date drilling permits were granted for the Holly project.
- Volcanic has invested ~US$4.29M in exploration on Holly, and under the modified Option, a minimum of $2.0M will be directed at the exploration and drilling of Motagua Norte.
- Volcanic’s geological team spent considerable time and resources evaluating Radius’s 340,000 ha regional applications in eastern Guatemala and identified the Motagua Norte prospect as high grade orogenic gold system with compelling drill targets.
The modified Option Agreement is subject to approval by the TSX Venture Exchange. As Radius and Volcanic have a common director and two common officers, Volcanic is a “non-arm’s length party” to Radius within the meaning of TSX Venture Exchange Policy 5.9. The modified option agreement is not, however, a “related party transaction” as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and therefore the requirements of the Exchange’s Policy 5.9 and MI 61-101 do not apply.

Technical Information

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Smith has 28 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.

Radius Gold Inc.

Radius has a portfolio of projects located in Mexico and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.

ON BEHALF OF THE BOARD

Bruce Smith

President and CEO

Symbol: TSXV-RDU

Contact: Bruce Smith

200 Burrard Street, Suite 650

Vancouver, BC V6C 3L6

Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: www.radiusgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the results of exploration work and future plans at the Company’s projects. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at the Company’s projects will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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September 18, 2023
Lithium Corporation Receives Option Shares from Morella

2023-09-14 06:24:28

ELKO, NV / ACCESSWIRE / September 14, 2023 / Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American mineral exploration company focused on energy metals for the growing energy storage sector and high-tech industries, wishes to advise investors the Company recently received cash and shares from Morella Corporation (ASX:1MC, OTC:ALTAF) (Morella), to satisfy in-part Morella’s annual anniversary commitments for both the North Big Smoky and Fish Lake Valley options. As a result of the recent installment of shares, Lithium Corporation is one of Morella’s top shareholders with more than 82 million shares. Morella remains the single largest shareholder in Lithium Corporation with just under 10 million LTUM shares after purchasing 11 million shares in a non-brokered private placement in 2012.

Morella has been actively working on Lithium Corporation’s properties during the past several years, most recently mobilizing an RC rig (see LTUM press release Sept 07, 2023) to Northern Fish Lake to “pre-collar” two 200 foot (61 meter) holes which will facilitate the later extension of the holes utilizing a core rig to 1200 feet (366 meters) depth. Elsewhere, Morella recently announced drilling commenced on their Mallina lithium pegmatite prospect in Western Australia. Please see the most recent Morella release at:
https://wcsecure.weblink.com.au/pdf/1MC/02710454.pdf

Tom Lewis, President & CEO, Lithium Corporation, commented, “We are pleased with the attention Morella is paying to our lithium prospects and quite happy with our share position in their company. The Morella team are active and devoted lithium explorers and developers. We look forward to the drilling results from our Fish Lake Valley prospect this fall, as well as all other developments”.

Learn more about Lithium Corporation’s complete portfolio of lithium, graphite, and titanium/rare earth elements prospects:
https://lithiumcorporation.com/projects/

About Lithium Corporation

Nevada based mineral exploration company, Lithium Corporation is one of a handful of Project Generators in the critical minerals space in North America. The Company’s dual operational focuses cover exploration activities on several lithium prospects in Nevada, USA, as well as titanium/rare earth elements & graphite properties in British Columbia, Canada. Lithium Corp. has maintained a strategic alliance with Morella Corporation (the Company’s single largest shareholder) for the past nine years. Lithium Corp. has formal agreements with Morella covering earn-ins on the Company’s North Big Smoky and Fish Lake Valley lithium-in-brine prospects in Nevada.

Website: www.lithiumcorporation.com

Contact Info
Tom Lewis, CEO
775-410-5287
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About Morella Corporation

Morella is an exploration and resource development company focused on lithium and battery minerals. Morella is currently engaged in exploration, resource definition and development activities with projects strategically located in Tier 1 mining jurisdictions in both Australia and the United States. Morella will secure and develop lithium raw materials to support the surging demand for battery minerals, critical in enabling the global transition to green energy.

Contact Info
James Brown, Managing Director
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Notice Regarding Forward-Looking Statements

This current report contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Lithium Corporation (OTC-LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com

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September 14, 2023
Carlyle Announces Stock Option Grant

2023-09-12 18:34:34

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTCQB: CCCFF) (“Carlyle” or the “Company“) is pleased to announce it has approved the issuance of 2,500,000 stock options to certain officers, directors, and consultants of the Company for the purchase of up to 2,500,000 common shares in the capital of the Company pursuant to the Company’s Stock Option Plan. Each option vested immediately and is exercisable for a period of five (5) years at an exercise price of $0.125 per share.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of B.C. and is listed on the Canadian Securities Exchange under the symbol “CCC”, on the OTCQB Market under the ticker “CCCFF”, and the Frankfurt Exchange under the ticker “BJ4”.

ON BEHALF OF THE BOARD OF DIRECTORS OF

CARLYLE COMMODITIES CORP.

“Morgan Good”

Morgan Good
President and Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director
T: 604-715-4751
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
W: www.carlylecommodities.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).

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September 12, 2023
Avante Mining Announced Debt Settlement and Option Grant

2023-09-06 17:49:03

Vancouver, British Columbia–(Newsfile Corp. – September 6, 2023) – Avante Mining Corp. (TSXV: AVA) (“Avante” or the “Company“), is pleased to announce that its board of directors has approved the settlement of an aggregate principal amount of $36,582 in debt for services rendered through the issuance of common shares of the Company (the “Debt Settlement“).

Pursuant to the Debt Settlement agreement dated September 5, 2023, the Company proposes to issue an aggregate of 243,880 common shares of the Company (the “Shares“) at a deemed price of $0.15 per Share to settlement the debt with an arm’s length party.

All securities issued will be subject to a statutory hold period which will expire on the date that is four months and one day from the date of issuance. The Debt Settlement remain subject to the approval from the TSX- Venture Exchange.

The Company also announces that it has granted stock options to its Directors, Officers, and Consultants, in accordance with the Company’s Stock Option Plan, for the purchase of up to an aggregate of 1,700,000 Shares (the “Options“).

The Options are exercisable for a period of ten years from the date of issuance with an exercise price of $0.12 per Share. Any Shares issued pursuant to the exercise of the Options will be subject to a hold period of four months plus one day from the date of grant.

About Avante Mining Corp.

Avante Mining Corp. (TSXV: ACP) is a mining exploration company focused on developing high-value geographically significant projects including the Voisey’s West. Avante is paving the way by combining quality projects with proven exploration strategies and a dedicated team to achieve exceptional outcomes.

The Voisey’s West is located in the same intrusive complex as the world class Voisey’s Bay Nickel mine where reported remaining proven and probable reserves include 32.4 million tonnes of 2.13% Nickel, 0.96% Copper, 0.13% Cobalt, and additional measured and indicated 10.3 million tonnes of 0.87% Nickel, 0.65% Copper, 0.04% Cobalt. It represents one of the most competitive nickel operations globally.

For more information, visit avantemining.com.

The forward-looking statements contained in this press release are made as of the date hereof and Avante Mining Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Adrian Smith, CEO and Director
Contact 1-778-331-3816
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September 6, 2023
Sienna Resources Closes Agreement for Option to Acquire 100% of “Elko Lithium Project” in Elko County, Nevada Bordering Surge Battery Metals

2023-09-05 08:31:56

Vancouver, British Columbia–(Newsfile Corp. – September 5, 2023) – Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) (“Sienna” or the “Company”) is pleased to announce that it has closed an arm’s length property option agreement to acquire a 100% interest in the “Elko Lithium Project” in Elko County, Nevada. This project consists of 79 claims consisting of approximately 1200 contiguous acres directly bordering Surge Battery Metals’ “Nevada North Lithium Project” in Elko County, Nevada. This project now makes Sienna one of the largest landholders in this new lithium district that borders Surge Battery Metals (NILI). The Nevada North Lithium Project has returned some of the highest grades for lithium in Nevada. According to Surges website, “Drill hole NN2207 intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 metres (395 feet) averaging 3,943 parts per million lithium in four zones.” Plans are being formulated immediately for the first phase of work on this project. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company’s properties.

Jason Gigliotti, President of Sienna states, “This is one of the most exciting lithium regions in North America. We are pleased to be one of the largest landholders in the area that borders Surge. The grades that were encountered by Surge are some of the highest grades attained in Nevada and having a project that is directly bordering this new lithium discovery holds tremendous promise for Sienna’s shareholders. We plan to immediately commence plans for the first phase of work on this project. Not only do we have this new lithium project, but Sienna is one of the largest landholders in Clayton Valley, Nevada through its other property interests. Sienna has sufficient cash resources for anticipated exploration plans, and we expect to be very active on multiple fronts in the remainder of 2023. Management is very optimistic about the future and looks forward to what will happen in the ground on these projects.”

Elko Country Map

Recently, the Bureau of Land Management (BLM) has given Sienna approval for up to 4 additional holes to be completed on the 100% owned Blue Clay Lithium Project in Clayton Valley, Nevada (See map). On March 25, 2022, Sienna revealed a new lithium discovery on the Blue Clay Lithium Project. Lithium values as high as 1230 ppm Li were encountered. The Blue Clay Lithium Project consists of 150 contiguous claims totaling approximately 2,950 acres prospective for lithium right in the heart of the Clayton Valley in Nevada, which is currently home to the only producing lithium region in North America.

Terms of the agreement can be found in the news dated August 17, 2023.

About Sienna Resources Inc.

Sienna is one of the larger landholders in Clayton Valley Nevada. Sienna’s Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. The Clayton Valley is home to the only lithium production in North America, being Albemarle Corp’s Silver Peak deposit. This project is also near Tesla Motors Inc.’s Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Results from this pilot plant are expected in 2023 and could have a significant impact on the brine prospects within Clayton Valley Nevada. Sienna also has the ‘Marathon North Platinum-Palladium Property’ in Northern Ontario directly bordering Generation Mining Marathon Deposit.

Qualified Person:

Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

If you would like to be added to Sienna’s email list, please email This email address is being protected from spambots. You need JavaScript enabled to view it. for information or join our twitter account at @SiennaResources.

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
This email address is being protected from spambots. You need JavaScript enabled to view it.

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

Statements in this news release that are not historical facts are forward-looking statements. Forward-Looking statements are statements that are not historical, and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as “expects”, “intends”, “plans”, “may”, “could”, “potential”, “should”, “anticipates”, “likely”, “believes” and words of similar import tend to identify forward-looking statements. Forward-Looking statements in this news release include the exercise of the option, TSX Venture Exchange approval of the agreement and mineralization potential regarding the Project. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, that the Company may not be able to obtain TSX Venture Exchange approval; may not elect to exercise the option; may not be able to conclude the property expenditure requirements as required; uncertainty of exploration and development plans regarding the property; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential labour unrest; reclamation and closure requirements for mineral properties and the availability of capital to fund the Company’s projects, as well as other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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September 5, 2023
CANEX Metals Amends Option Agreement to Acquire 100% Ownership of the Excelsior Mine Property at the Gold Range Project Arizona

2023-09-05 04:39:27

CALGARY, AB / ACCESSWIRE / September 5, 2023 / CANEX Metals Inc. (“CANEX” or the “Company”) and its 100% owned Arizona subsidiary CANEXCO Inc. are pleased to announce that the terms of the Excelsior Mine Property option agreement (previously announced see June 3, 2021, News Release) have been amended. The Excelsior Mine Property consists of 11 lode mining claims and 2 patented mining claims covering 3 past producing historic gold mines, located within the Company’s larger Gold Range Project in Arizona. Over the past 2 years CANEX has drilled 72 holes into the main Excelsior deposit, defining a moderately dipping gold mineralized zone up to 400 metres long by 20 to 60 metres wide, that has been traced at least 100 metres down dip.

Terms of the Amendment

CANEX and the underlying property Vendors have agreed to remove all requirements to complete the Stage 2 and Stage 3 earn in obligations of the original agreement in exchange for a one-time share and cash payment. Under the amended option agreement CANEX will earn a 100% interest in the Excelsior Mine Property in exchange for issuing 8,694,170 CANEX Shares and paying US$120,000 in cash. The Vendors will retain a 1.5% net smelter royalty as outlined in the original agreement.

This transaction, plus CANEX shares already owned by the Vendors, gives them 9.9% ownership of the issued shares of the Company. The transaction is subject to final TXS-V approval.

Dr. Shane Ebert President of the Company stated, “CANEX is very pleased to welcome the Vendors as major shareholders of the Company, and their show of confidence in the future of the Company and the district is greatly appreciated. This amended agreement is a key step in moving the highly prospective Gold Range Project forward, as it removes various deadlines and eliminates up to C$3.5 million in potential expenditures and payments over the next 3.5 years. The Company is now better able to advance the Project as market conditions allow and direct exploration efforts across the entire property package.”

Figure 1. Gold Range Property map showing the Excelsior Mine Property which includes 11 lode mining claims and 2 patented claims purchased 100% by CANEX.

Terms of the Original Option

The original option agreement allowed CANEX to earn into the Excelsior Mine Property (“the Property”) from the private Vendors over 3 stages. CANEX had completed Stage 1 of the original option and was well underway to completing Stage 2. During stage 1 CANEX earned 25% interest in the Property by issuing 750,000 shares of CANEX and spending US$500,000 on exploration. During stage 2 CANEX could earn 51% interest in the Property by issuing 1 million shares of CANEX (issued), spending US$2,000,000 on exploration including a resource estimate, and paying a bonus payment equivalent to 1% of the gold price on recoverable gold equivalent ounces defined in the measured and indicated resource categories. The deadline for Completing Stages 1 and 2 was May 2024.

During stage 3 CANEX could earn a 90% interest in the Property by issuing 1,000,000 shares and spending US$2,000,000 million on exploration and development including an economic study. To complete the stage 3 earn in CANEX was required to make another bonus payment to the Vendors equivalent to 1.5% of the gold price on recoverable gold equivalent ounces defined in the proven and probable reserve categories. Stage 3 had a 2 year earn in period. Once CANEX had earned a 90% interest in the Property the Vendors could elect to maintain their 10% ownership by contributing their 10% share to exploration and development or give up 100% ownership to CANEX and revert to a 1.5% NSR.

About Gold Range

The Gold Range project is a new bulk-tonnage oxide-gold target located within an underexplored metamorphic terrain in Northern Arizona. CANEX controls 5 kilometres of strike length along a highly prospective district scale structure where mineralization is being defined through surface sampling, mapping, and reverse circulation drilling. The main exploration target defined by surface work is 4000 metres long by up to 500 metres wide with multiple subparallel exploration targets identified. The target zone remains open along strike under basin cover. Drilling by CANEX has returned strong results including 1 g/t gold over 59.5 metres, 1.6 g/t gold over 35.1 metres, 2.2 g/t gold over 24.4 metres, and 0.3 g/t gold over 62.5 metres.

About CANEX Metals

CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company with a new gold discovery at the Gold Range Project in Northern Arizona, and high grade silver and gold mineralization at the Gibson property in British Columbia. CANEX is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX: ALS) a large shareholder of the Company.

Dr. Shane Ebert P.Geo., is the Qualified Person for CANEX Metals and has approved the technical disclosure contained in this news release.

“Shane Ebert”
Shane Ebert
President/Director

For Further Information Contact:

Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of CANEX Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX’s filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

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September 5, 2023
AJN Resources Announces Signing of Binding Term Sheet for Option to Acquire up to 70% Indirect Interest in Second Highly Prospective Lithium Exploration Permit Located on Manono Trend in Eastern DRC

2023-08-30 06:35:56

Vancouver, British Columbia–(Newsfile Corp. – August 30, 2023) – AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce that it has entered into a binding term sheet (Term Sheet) with Future Mining Company SARL (Future), which is a limited liability company with its registered office in Kinshasa, Democratic Republic of Congo (DRC), for an option to acquire up to a 70% indirect interest in exploration permit PR 14537 located in the Manono Territory, Tanganyika Province of the DRC. The town of Manono, located about 20km via dirt road from PR 14537, is roughly 500km north of Lubumbashi and can be accessed by road from Lubumbashi or by a one-and-a-half-hour flight.

Exploration permit PR 14537 borders the Company’s recently optioned PR 15282 exploration property to the west and potentially covers 4km of a second pegmatite interpreted to crosscut the central licence area as shown in Figure 1. Although PR 14537 is under extensive soil cover, a second zone of pegmatites is interpreted to branch from the Manono pegmatites having a more northerly trend as suggested in Figure 1. The interpreted pegmatites to the east are interpreted to parallel the granite contact on PR 15282.

Figure 1: Mined Pegmatites over 13km at Manono and Potential Extension of these Pegmatites onto PR 14537

The Manono pegmatites lie within a broader pegmatite bearing belt which covers roughly 500km within the mid-Proterozoic Kibaran litholgies in the eastern DRC. The belt is strongly associated with lithium, tin, tungsten, tantalum, niobium and beryllium mineralisation and was exploited historically for tin up to early 1980’s at Manono. AVZ Minerals Limited has defined a measured, indicated and inferred mineral resource totalling 401M tonnes at 1.65% Li₂O as reported in their ASX announcement dated 24 May 2021 at their Roche Dure Prospect located within the Kitolo pegmatites shown in Figure 1. Trenching programmes announced by AVZ Minerals on 12 September 2017 identified highly weathered pegmatites in the northernmost trench covering the Manono pegmatites suggesting pegmatites continue to the northeast.

Mr. Klaus Eckhof, CEO and President of AJN, commented, “We are extremely excited about this latest acquisition as we have now covered the extension of the Manono pegmatites to the northeast. Early indications are that the licence area is covered by thick alluvial sand cover which is one of the main reasons why there has been little exploration in the area. We are confident that by conducting shallow drilling programmes we will be able to identify any extension of the Manono pegmatites onto both licences under agreement.”

The Term Sheet states that AJN will pay US$100,000 to Future within 10 days of the date on which the Term Sheet was fully signed, upon which AJN will have up to six months to conduct legal, financial and technical due diligence, which will include soil sampling, trenching and, if warranted, a short drilling programme. Field work is expected to commence within the coming weeks.

At the conclusion of the due diligence programme, AJN will notify Future if it intends to exercise its option to acquire up to a 70% indirect interest in PR 14537. AJN has the right to acquire a 60% indirect interest by paying an additional US$1,000,000 to Future and by issuing 7,000,000 common shares in the capital of AJN to Future.

After AJN has acquired a 60% indirect interest in PR 14537, AJN can acquire a further 10% indirect interest in PR 14537 (for a total 70% indirect interest) by paying an additional US$5,000,000 to Future.

AJN will be responsible for funding exploration of PR 14537 to conclusion of a definitive feasibility study, which funding is to be treated as a loan. At completion of the definitive feasibility study and should AJN wish to continue, each party will contribute on a pro-rata basis or dilute according to an industry standard formula. AJN will arrange all project finance which will be recovered as a priority from production.

QP Statement

Mr. Stephen Alan Mawson is a consultant of AJN Resources Inc. and qualified geologist and is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03) and a member of the Geological Society of South Africa. Mr. Mawson is a qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

About AJN Resources Inc.

AJN is a junior exploration company. AJN’s management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.

For further information, please contact Investor Relations:

Sheena Eckhof
Director, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.

Visit us at www.ajnresources.com.
Tel: +44 7496 291547

On Behalf of the Board of Directors

Klaus Eckhof
CEO and President
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Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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August 30, 2023
Northern Graphite Signs Extension on Option to Acquire Stake in NeoGraf Solutions

2023-08-29 05:50:07

Ottawa, Ontario–(Newsfile Corp. – August 29, 2023) – Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the “Company” or “Northern) is pleased to announce that it has entered into an agreement with Edgewater Capital Partners (“Edgewater“) to extend the Company’s option to acquire a stake in NeoGraf Solutions, LLC (“NeoGraf“).

With this six-month extension, Northern has the option to acquire an effective 50.1% voting interest and a 33.3% equity interest in NeoGraf. Northern also has an option to increase its interest up to 100%, at a later date, subject to the terms and conditions of the agreement. Northern has engaged Sprott Capital Partners LP to act as its financial advisor with respect to financing the investment.

NeoGraf is one of Northern’s largest customers and, including its time as a part of Union Carbide, has a history of over 100 years serving clients in North America and abroad. It is a leading provider of specialty, value-added products manufactured from natural graphite and has a strong intellectual property portfolio and a blue-chip customer base.

“Due to the potential of the proposed partnership between Northern and Edgewater to contribute to NeoGraf’s future success, Edgewater has agreed to extend the term of the option from six- to 12 months, in order to give us more time to effectively close the deal in a challenging market environment,” said Northern Chief Executive Officer Hugues Jacquemin. “The acquisition of this stake in NeoGraf will be a critical driver of our downstream strategy to be an integrated and sustainable mine-to-market company.”

“We are very pleased at the prospect of partnering with Hugues and the Northern team to accelerate NeoGraf’s growth and in support of Northern’s ‘mine-to-market’ strategy. This partnership provides NeoGraf an additional ‘tool’ in enabling our customers’ success and enhances our ability to address supply needs in this quickly growing marketspace,” said Edgewater Capital Partner and current Chairman of the Board, Robert Girton.

“Together, NeoGraf and Northern promise a powerful combination in the development of high-performance technical solutions that address our customers’ specific needs,” Natesh Krishnan, CEO of NeoGraf, commented. “Northern provides NeoGraf with greater security of supply and expands the geographic regions from which we source our graphite.”

Closing of Northern’s investment is subject to the execution of definitive agreements, the receipt of all required third party and regulatory approvals including, if applicable, approval of the TSX Venture Exchange and to Northern completing satisfactory financing arrangements.

About Northern Graphite

Northern is a Canadian, TSX Venture Exchange listed company that is focused on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for lithium-ion batteries/EVs, fuel cells and graphene, as well as advanced industrial technologies.

Northern is the only significant graphite producing company in North America and will become the third largest producer outside of China when its Namibian operations come back online. The Company also has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have “battery quality” graphite and are located close to infrastructure in politically stable jurisdictions.

About NeoGraf

NeoGraf Solutions LLC is based in Lakewood, Ohio where it operates a 395,000 s/f manufacturing facility on a 22 acre, company owned site. It has just over 100 employees and a strong R&D, materials science and application development capability with 10 R&D scientists and over 150 patents. NeoGraf is a global technology leader in the sale of highly-engineered specialty products, materials and additives which are largely based on natural graphite and proprietary technologies. It has a 100+ year history and a strong brand name with over 250 customers in 22 countries.

Edgewater Capital Partners

Edgewater Capital Partners is a Cleveland based, sector-focused private equity firm that invests in lower middle-market performance materials and service businesses. The firm has extensive experience and expertise investing in the people, technology, and facilities to accelerate the growth trajectory of niche manufacturers of specialty chemicals, life sciences, advanced materials, and engineered components. Over twenty years of industry specific investing has allowed the firm to develop a deep understanding of the complexities and nuances common to these businesses.

For media inquiries contact
Pav Jordan, VP of Communications
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For further information contact
Guillaume Jacq, CFO
Telephone: (613) 271-2124
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For additional information

Please visit the Company’s website at http://www.northerngraphite.com/investors/presentation/, the Company’s profile on www.sedar.com, our Social Channels listed below or contact the Company at (613) 271-2124.

LinkedIn | YouTube | Twitter | Facebook

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward- looking statements and information are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-looking statements in this release include statements regarding, among others, the Company’s intentions with respect to completing the investment in NeoGraf, completing the financing arrangements relating thereto, advancing its developments projects to production and developing the capacity to manufacture value-added products. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.

Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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August 29, 2023
ATEX Resources Earns 49% Interest in Valeriano Project, Amends Option Agreement

2023-08-28 14:03:20

Toronto, Ontario–(Newsfile Corp. – August 28, 2023) – ATEX Resources Inc. (TSXV: ATX) (“ATEX” or the “Company“) is pleased to announce that the Company, through its wholly owned subsidiary, ATEX Valeriano SpA (“ATEX Valeriano“), has earned a 49% interest in the Valeriano Copper Gold Project (the “Valeriano Project“) after completing significant payment and exploration milestones under the option agreement (the “Option Agreement“) dated August 29, 2019, as previously amended, between ATEX Valeriano and Sociedad Contractual Minera Valleno (“Valleno“). In connection with earning the 49% interest in the Valeriano Project, ATEX Valeriano and Valleno also agreed to amend certain terms of the Option Agreement to simplify certain administrative and structural matters.

“We are tremendously pleased to have reached a 49% interest in the Valeriano Project and are looking forward to acquiring 100% after our next drilling seasons that should assure the high-grade porphyry trends and expand the size of the deposit,” stated Raymond Jannas, CEO and President of the Company.

ATEX’s 49% Interest

Pursuant to the terms of the Option Agreement, ATEX Valeriano paid Valleno an aggregate of US$3.5 million, satisfying 50% of such payment with a cash payment of US$1.75 million and 50% of such payment in 2,935,749 common shares of the Company (the “ATEX Shares“), such ATEX Shares having a deemed aggregate value of US$1.75 million. In addition, ATEX Valeriano also met the current exploration requirements set out in the Option Agreement, being US$10 million in exploration expenditures on the Valeriano Project, including the completion of not less than 8,000 metres of drilling. ATEX Valeriano was obligated to make the US$3.5 million payment and meet those exploration milestones by August 29, 2023 in order to secure a 49% interest in the Valeriano Project.

ATEX Valeriano can earn a 100% interest in the Valeriano Project, subject to a 2.5% net smelter royalty, by paying a further US$8 million (half of which may be satisfied through the issuance of ATEX Shares, at Valleno’s discretion) and by incurring an additional US$5 million of exploration expenditures on the Valeriano Project by August 29, 2025. Upon ATEX Valeriano earning the full 100% interest in the Valeriano Project, Valleno shall transfer its ownership in the Valeriano Project to ATEX Valeriano or as otherwise directed by the Company.

Amendments to Option Agreement

ATEX Valeriano and Valleno have also agreed to amend certain administrative and structural terms of the Option Agreement to reduce costs and overhead to the parties. Originally, upon ATEX Valeriano earning the 49% interest in the Valeriano Project, the parties were required to form a new Chilean joint stock company to hold their respective interests in the Valeriano Project. This requirement has been struck by the parties from the Option Agreement. Instead, pursuant to the amendment, ATEX Valeriano remains able to acquire a 100% interest in the Valeriano Project by meeting the unamended requirements set out above, however, in the event that ATEX Valeriano does not exercise the option to acquire the 100% interest in the Valeriano Project, ATEX Valeriano and Valleno would then incorporate a new Chilean joint stock company owned by both parties proportionate to each party’s respective property ownership interest.

Issuance of Units to SBX

In connection with the US$3.5 million-dollar payment made to Valleno under the Option Agreement, ATEX issued 1,000,000 units (the “Units“) to SBX Asesorías e Inversiones Limitada (“SBX“), the original optionor of the Valeriano Project, pursuant to a transfer and assignment agreement between ATEX, ATEX Valeriano and SBX dated August 29, 2019, as amended (the “Transfer Agreement“). Each Unit consists of one ATEX Share and one common share purchase warrant exercisable at C$0.86 to acquire one additional ATEX Share by August 28, 2027. Following the issuance of the Units to SBX, ATEX and ATEX Valeriano have met all their outstanding obligations under the Transfer Agreement owing to SBX.

All the securities issued by ATEX to Valleno and SBX are subject to a customary four month hold under applicable Canadian securities law, expiring on December 29, 2023.

About ATEX Resources Inc.

ATEX is exploring the Valeriano Copper Gold Project which is located within the emerging copper gold porphyry mineral belt linking the prolific El Indio High-Sulphidation Belt to the south with the Maricunga Gold Porphyry Belt to the north. This emerging belt, informally referred to as the Link Belt, hosts several copper gold porphyry deposits at various stages of development including, Filo del Sol (Filo Mining), Josemaria (Lundin Mining), Los Helados (NGEX Minerals/JX Nippon), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick Gold).

Valeriano hosts a large copper gold porphyry deposit overlain by a near surface oxidized epithermal gold deposit. In 2022, ATEX completed the Company’s first limited drill test of the copper gold porphyry system that is now being followed up with campaign of directional drilling to extend the high-grade trend, test new targets and expand the mineralized envelope.

For further information, please contact:

Raymond Jannas
President & CEO
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Ben Pullinger
Senior Vice President of Exploration and Business Development
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or visit ATEX’s website at www.atexresources.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including predictions, projections, and forecasts. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “planning”, “expects” or “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such forward-looking statements include, among others: the Company earning a 100% interest in the Valeriano Project by making the US$8.0 million payment in cash and/or ATEX Shares under the Option Agreement and incurring the required exploration expenditures on the Valeriano Project; and the incorporation of a new Chilean joint stock company, if required.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed above and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; changes in commodity prices; the interpretation and actual results of current exploration activities and mineralization; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental and local approvals or financing or in the completion of exploration; timing of assay results; as well as those factors disclosed in ATEX’s publicly filed documents.

Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of the content of this news release.

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August 28, 2023
Mantaro Precious Metals Announces Termination Of Option Agreement On Golden Hill Property And Resignation Of Director

2023-08-28 04:02:37

VANCOUVER, BC, Aug. 28, 2023 /CNW/ – MANTARO PRECIOUS METALS CORP. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) (“Mantaro” or the “Company”) announces that it has received a notice of termination from Luis Fernando Kinn Cortez (the “Optionor”) terminating the option agreement dated August 23, 2021 (the “Option Agreement”) among the Company, Mineral Golden Hill S.R.L. (“MGH”) and the Optionor. Under the terms of the Option Agreement, the Company had the right to earn up to an 80% interest in the Golden Hill Property. Concurrent with the delivery of the notice of termination, Mr. Kinn Cortez also resigned as a director of the Company.

Darren Hazelwood, Chief Executive Officer of the Company states “The current junior capital markets made it difficult to raise the capital necessary to meet the cash payments due under our Golden Hill property option agreement. Our focus will now be to complete a financing to carry out a drill campaign on the high-grade Santas Gloria Silver Property located in Peru. With drill permits issued and drill pads already constructed, we will be able to carry out a drill campaign shortly after the necessary capital is raised.

Even with the loss of Golden Hill, we continue to hold exploration concessions in the Bolivia Shield. In June 2023, we acquired a 100% interest in two highly prospective licenses, being the East Trend and Media Sur properties, in the San Ramon Greenstone belt. These properties have minimal holding costs and we are looking forward to carrying out an initial exploration program and entering into potential partnerships on these properties.”

Under the Option Agreement, the Company will retain a 2% net smelter royalty on the Golden Hill Property, which may be repurchased by MGH with a one-time payment of US $1,000,000.

Future exploration programs by the Company will focus on the high-grade Santas Gloria Silver Property, which is located in the Miocene epithermal gold-silver belt of Peru. The Company’s previous exploration program resulted in very high silver grades (>10,000 g/t Ag in underground channel samples) and unusually high gold grades (up to 56 g/t Au in surface channel samples). Subject to raising additional financing, the Company plans to carry out a 2500 diamond drill program on the 10 pads constructed at Santas Gloria. Drilling will initially target the strike and depth extensions of high-grade gold-silver-base metal mineralized segments of the Tembledara, San Jorge, Paquita and Maribel veins, which have been defined by channel sampling of surface veins and underground workings.

About Mantaro Precious Metals Corp.

Mantaro Precious Metals Corp. is a British Columbia company that holds a diversified portfolio of gold and silver focused mineral properties in Bolivia and Peru. The Company’s flagship property is the high-grade silver Santas Gloria Silver Property. In addition, the Company also holds two highly prospective exploration licenses in the Bolivian Shield, the East Trend and Media Sur Properties, that were acquired in June 2023.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to Company’s limited operating history, the requirement to raise additional financing to commence drilling activities, the success of future exploration and drilling activities at the Santas Gloria Property, and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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August 28, 2023
Aurion Resources Signs Definitive Option Agreement with Kinross Gold on Launi East Property

2023-08-23 04:04:18

ST. JOHN’S NL, Aug. 23, 2023 /CNW/ – Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) (“Aurion” or the “Company”) announces that it has signed a formal definitive option agreement with Kinross Gold Corporation (TSX: K, NYSE: KGC); (“Kinross”) granting Kinross the right to earn up to an undivided 70% interest in the 42.74 km², Launi East Property, which is located to the southeast and adjacent to the Company’s 100%-owned Risti Property.

Figures associated with this release can be found on the Company’s website through the following link: https://aurionresources.com/site/assets/files/1508/nr23-18figures.pdf.

Under the terms of the agreement, Kinross can earn a 70% undivided interest in the Launi East Property by incurring a minimum of USD$10,000,000 in exploration expenditures on or before the seventh anniversary of the agreement dated August 21^st, 2023. Subject to receiving all necessary permits for a drilling program, Kinross has agreed, as a firm obligation, to incur a minimum of USD$2,000,000 in exploration expenditures on, or before the second anniversary of the agreement.

Should Aurion’s interest in the joint venture be diluted down to 10% or less, Aurion’s interest will be converted to a 2% Net Smelter Return (NSR) Royalty on the property. Kinross may purchase one-half of the royalty to reduce the royalty to 1% of net smelter returns for USD$2,000,000.

“We are pleased to extend our excellent working relationship with Kinross and their first-class exploration team on the Launi East property,” commented Matti Talikka, Aurion’s CEO. “The Company staked the Launi East Property in 2018 and has since completed a significant amount of surface, geophysical, geochemical work on the property, as well as limited drilling. We welcome the Kinross team to build upon the work completed and unlock value from the property.”

Silaskaira Property

Kinross has informed the Company on the termination of the Silaskaira option agreement. Aurion will regain full ownership of the property and related data.

About Aurion Resources Ltd.

Aurion is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion’s strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion’s current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

On behalf of the Board of Directors,
Matti Talikka, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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August 23, 2023
Apex Resources Adopts 10% Rolling Option Plan

2023-08-18 11:13:41

August 18, 2023 – TheNewswire – Vancouver, BC. – Apex Resources Inc. (the “Company”) (TSXV:APX) announces that on July 14, 2023, the board of directors of the Company adopted a new 10% rolling option plan (the “Plan”) governing the issuance of incentive stock options (“Options”).

The Plan replaces the Company’s existing Option plan. The Plan was approved by disinterested shareholders of the Company at the annual general and special meeting held on August 15, 2023 and was conditionally approved by the TSX Venture Exchange (the “Exchange”) on July 14, 2023. The Plan remains subject to the final approval of the Exchange.

For information on the Company’s projects, visit www.apxresources.com.

Jay Roberge, President and CEO

For further information please contact:
Marc Lee, CFO
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

This release was prepared by Apex’s management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex’s filings that are available at www.sedar.com or Apex’s website at www.apxresources.com.

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August 18, 2023
Nickel North Exploration Provides Update on Option Agreement to Sell up to 100% Interest in Hawk Ridge

2023-08-16 16:59:18

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2023) – Nickel North Exploration Corp. (TSXV: NNX) (“Nickel North” or the “Company“) wishes to provide an update on the previously announced option agreement (the “Option Agreement“) with 1844 Resources Inc. (“1844“), pursuant to which the Company has agreed to sell a 100% undivided interest (the “Transaction“) in the Hawk Ridge nickel-copper project comprised of 411 mineral claims covering 179 km2 in the Ungava Bay on the east coast of Quebec. The Company has received Exchange’s conditional approval and shareholders’ approval for the Transaction. The Company is working with 1844 toward completion of the First Option under the Option Agreement.

Neither the Exchange nor its Regulations Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

QUALIFIED PERSON

Any technical information in this news release and previous news releases dated March 6 and April 6 has been reviewed and approved by Tony Guo, P.Geo., Nickel North Exploration Corp’s President and CEO, who is a Qualified Person as defined by National Instrument 43-101.

ABOUT NICKEL NORTH EXPLORATION

Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE mineral resource at its Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 km2. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen maintains good relations with local Inuit communities and is committed to sustainable development. For more information on the company, please visit www.nnexploration.com or follow Company on Twitter at https://twitter.com/nickelnorth.

Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals value chain by Quebec’s Ministry of Economics and Innovation (MEI) in 2021 (Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 (quebec.ca), which is part of Quebec’s Plan for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.

Per: “Tony Guo”
Tony Guo

Nickel North Exploration Inc.
Tony Guo. P. Geo, Chief Executive Officer (Tel: +1-778-877-5480)
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

North America IR / PR Jemini Capital
Jorge Galindo This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 (647) 725-3888 x703

For further information please visit http://www.nnexploration.com.

This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company’s plan to complete the First Option under the Option Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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August 16, 2023
GoviEx Uranium Annual Stock Option Grants

2023-08-16 09:34:01

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2023) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) (“GoviEx“), announces that, pursuant to its Share Purchase Option Plan, it has granted annual incentive stock options to certain directors, officers, employees, and a consultant to purchase up to an aggregate of 13,380,000 Class A common shares in the capital stock of GoviEx.

The stock options are exercisable at a price of $0.115 per share and will vest 25% on the date of grant and thereafter, 25% on each anniversary of the date of grant until fully vested. The options expire on August 15, 2028.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium Inc.

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia, and its multi-element Falea project in Mali.

Contact Information
Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web: www.goviex.com

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August 16, 2023
ESGold Terminates Earn-In Option Agreement with Nepean Bay Joint Venture

2023-08-15 05:18:05

VANCOUVER, BRITISH COLUMBIA – TheNewswire – August 15, 2023 – ESGold Corp. (“ESGold” or the “Company”) (CSE:ESAU), (Frankfurt:N2W), (OTC:SEKZF) announces it has elected to terminate the Earn-In Joint Venture Agreement signed on May 30th, 2022, with Nepean Bay Joint Venture for the purpose of jointly exploring and developing the Ottawa River Gold Project. As a result of the agreement termination, Nepean Bay Joint Venture will retain 100% ownership of its Ottawa River Gold property interests.

The decision to terminate the earn-in option joint-venture was based on a detailed review of a positive Preliminary Economic Assessment report related to the Montauban project (see press release dated April 13th, 2023). ‘Considering the scope and size of our Montauban project, Management will focus 100% of its activities on bringing the project into commercial production and generating significant cash-flow.’ stated Mr. Jean-Yves Therien, ESGold’s president & CEO.

To view the PEA, we invite you to visit the Company’s website at https://esgold.com/operations/Montauban

About the Company

ESGold Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. ESGold’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City.

Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.esgold.ca.

For more information on ESGold Corp. please contact the Company (+1 514-712-1532) or visit the website www.esgold.ca for past news releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial pieces. To keep up with what’s going on with ESGold please join our shareholders chat room on telegram: https://t.me/+SQeyLoDRjIAwMDVh

On behalf of the Board of Directors,

ESGold CORP.

“Jean Yves Therien”

Chief Executive Officer

“John Stella”

Investor contact

Tel: +1 514-712-1532

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

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August 15, 2023
Portofino Resources Executes Agreement to Acquire the Drill-Ready 2,932ha Yergo Lithium Project by Way of Option Buyout
2023-08-14 09:13:34
Vancouver, British Columbia–(Newsfile Corp. – August 14, 2023) – PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) (“Portofino” or the “Company“) announces that it has executed a Binding Letter of Intent (the “Binding LOI”) to buyout the original Option agreements (Yergo Binding Letter Agreement – February 15, 2019, and the Binding Letter Agreement Addendum May 12, 2021).

The Binding LOI ensures all rights and concession ownership for the 2,932 hectare Yergo Lithium Project (the “Project”) (see Figure 1 and 2) are transferred directly to Portofino. This enables Portofino to advance its previously submitted drill permit application and proceed thereafter with an initial, planned 4-hole drill program.

David Tafel, CEO of Portofino, commented: “This agreement is a very positive development for Portofino as it overcomes a legal hurdle created by the previous concession owner, and secures 100% direct concession ownership. Our previously planned exploration activity can now recommence after an approximate one-year delay.”

Figure 1: Yergo Lithium Project Strategic Location

The formation of lithium-bearing brines for both the Yergo Lithium Project and Zijin’s 3Q Project, are likely due to the historic volcanic activity located between the projects that occurred during the same time period.

Figure 2: Yergo Lithium Project, Controlling 100% of the Aparejos Salar

Yergo Lithium Project, Catamarca Argentina:

The Project is 2,932 hectares in size, controlling the entire Aparejos Salar, located approximately 9 kilometers from the Salar Tres Quebradas (the “3Q Project”), previously developed by NeoLithium Corp., and acquired by Zijin Mining for C$960 million in 2022 (see: Zijin – 3Q Project).

Portofino previously completed and reported results of a geophysical survey identifying 2 large, aquifers within the project measuring approximately 2.3km x 1km and 1.8km x 2.5km (POR News Release 06-APR-2021) (see Figure 3) as well as surface sampling programs returning values up to 373 mg/l Lithium and has advanced the project to a drill-ready stage.

Portofino’s technical team has identified 4 priority drill targets and a drilling contract has been finalized for a minimum of 300 meters.

Figure 3: Zonation of the saline nucleus with lithium geochemical concentrations (orange-red)

Acquisition Terms

The Binding LOI terms include concurrent:
1. Removal of the legal injunction granted in the favour of Portofino;
2. Transfer of all rights and title to the Yergo concessions to Portofino; and
3. Payment of US$600,000 by Portofino to the concession owner.
NOTE: Terms of the original option agreement consisted of escalating payments totaling $500,000

Background

POR News Release 22-SEPT-2022: Portofino Receives and Rejects Notice of Termination for Yergo Property Agreement

POR News Release 20-OCT-2022: Portofino Granted Injunction Against Yergo Property Owner by Catamarca Mining Court

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person (“QP”) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP has not completed sufficient work to verify the historic information on the properties in Argentina and neighbouring companies.

About Portofino Resources Inc.

Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas. Portofino has an opportunity to earn a majority interest in several lithium projects in Salta, Argentina and up to 100% of the Yergo Lithium property in Catamarca. The properties are situated in the heart of the world-renowned Argentine Lithium Triangle and in close proximity to multiple world-class lithium projects. The Company also has the right to earn 100% interest in three northwestern Ontario, Canada lithium projects: Allison Lake North, Greenheart Lake and McNamara Lake.

Portofino’s South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ontario, Canada proximal to the Dixie gold project discovered by Great Bear Resources and now owned by Kinross Gold Corp. In addition, Portofino holds three other northwestern Ontario gold projects; the Gold Creek property located immediately south of the historic Shebandowan mine, as well as the Sapawe West and Melema West properties located in the rapidly developing Atikokan gold mining camp.

ON BEHALF OF THE BOARD

“David G. Tafel”

Chief Executive Officer

For Further Information Contact:

David Tafel CEO, Director
604-683-1991

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s future business plans. Forward-looking information in this news release is based on certain assumptions and expected future events, namely the growth and development of the Company’s business as currently anticipated. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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August 14, 2023
Hertz Lithium Acquires Option to Acquire Patriota Lithium Project in the Aracuai Pegmatite District
2023-08-14 06:22:24
HIGHLIGHTS:
- Hertz has entered into an assignment agreement pursuant to which it has acquired the option to acquire the prospective Patriota Lithium Project in the mining friendly state of Minas Gerais in Brazil.
- These tenements are strategically situated proximal to the highly prolific ‘Eastern Brazilian Pegmatite Province” (the “EBPP”) and within the Araçuaí Pegmatite District (the “APD”). The EBPP is the largest lithium pegmatite province of South America and one of the most important pegmatite provinces around the world.
- The Patriota Lithium Project is a 2,964 hectare (contiguous 29 square kilometers) mineral claim block in Brazil’s Minas Gerais State, a mining-friendly jurisdiction located approximately 45 kms from Sigma Lithium Corp.’s Grota do Cirilo property, the largest lithium hard rock deposit in the Americas.
- The Patriota Lithium Project is located near other lithium exploration and production projects operated by Sigma Lithium Corp., Lithium Ionic, Latin Resources Limited and the Companhia Brasileira de Lítio Ltda.’s Cachoeira lithium mine. Although the Company believes the spatial association with these important advancing lithium deposits and mines supports the potential of the Patriota Lithium Project, is not necessarily indicative of the mineralization on the property.
- The location boasts advantageous infrastructure, comprising well-developed highways, access to hydroelectric power from the grid, water availability, and convenient proximity to commercial ports and residential townships.
- The option represents Hertz’s first Brazilian project which is complementary to the Company’s Lucky Mica Lithium Project in Arizona which continues to move through the permitting and progress to trenching phase
- Hertz plans to commence rapid exploration in the coming weeks and months.
Vancouver, British Columbia–(Newsfile Corp. – August 14, 2023) – Hertz Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (“Hertz” and/or the “Company”) is pleased to announce the acquisition of the option (the “Option“) to acquire a 100% interest in the Patriota Lithium Project. The Company acquired the Option pursuant to the terms and conditions of an option assignment agreement (the “Assignment Agreement“) entered into among the Company, Brascan Resources Inc. (“Brascan“), BHBC Exploracao Mineral LTDA (“BHBC“), and RTB Geologia e Mineracao LTDA (“RTB“, and together with BHBC, the “Optionors“). Pursuant to the Assignment Agreement, the Company has acquired Brascan’s rights, including the Option, granted pursuant to an option agreement (the “Option Agreement“) entered into among Brascan, BHBC, and RTB.

Through the acquisition of the Option, Hertz gains access to a strategically located and highly prospective lithium project situated in the mining friendly state of Minas Gerais, Brazil. A key advantage lies in the projects strategic location within the APD and proximal to the renowned EBPP, one of the most important pegmatite provinces around the world and a globally recognized hub for hard-rock lithium spodumene deposits. Notably, this region accounts for 100% of all government presently recognized lithium reserves in Brazil, making it highly valued for its abundant spodumene pegmatites.

Over the past two years, Brazil’s importance in the lithium exploration space has expanded significantly with the tremendous success of Sigma Lithium Corp., followed by Latin Resources Limited, and the up and coming Lithium Ionic Corp..

Figure 1: Eastern Brazilian Pegmatite Province Lithium District

Figure 2: Map of Patriota Lithium Project

Details of the lithium resources reported in Figures 1 and 2 are provided in the various company websites listed below. No qualified person from Hertz Lithium has to verified the reported resource estimates, and the estimates are not necessarily indicative of the mineralization on the property on the Patriota Project. Hertz is only reporting these resource estimates as to support the regional potential for significant lithium mineralization.

Source: www.cblitio.com.br/mineracao/
Source: Lithium Ionic Corporate Presentation: https://lithiumionic.com/investors/presentations/
Source: https://www.latinresources.com.au/salinas-lithium-project-brazil/
Source: Sigma Lithium Corp www.sigmalithiumresources.com/grota-do-cirilo/

Geological Detail

The Patriota Lithium Project under Option for Hertz Lithium shows strong high-level prospectively criteria within the Araçuaí Pegmatite District (APD) and proximal to prolific EBPP. The tenements are strategically located within the Salinas Formation metasedimentary rocks that were deposited prior to the Araçuaí orogeny. The Salinas Formation hosts the most prolific lithium pegmatites in the region. Pegmatite swarms intruded the region during the collisional Neoproterozoic to post-collisional Paleoproterozoic Araçuaí orogeny. L-C-T pegmatites (Lithium – Cesium – Tantalum) include the pegmatitic granites surrounding the richest lithium pegmatites in the SIGMA/CBL/Lithium Ionic region, as well as the nearest mapped (exposed) granite to the Patriota Lithium Project (16 kilometres to the north). The regional granite rocks are classified into five supersuites (G1, G2, G3, G4, and G5). Groups G3, G4 and G5 formed during the post-collisional episode associated with the Gondwana Supercontinent’s Trans-Amazonian event (CPRM 2016a, 2016b). Notably, the potential pegmatite corridor associated with lithium mineralized pegmatites with the G4 supersuite.

Hertz believes the association with proximal G4 suite granites supports the potential for a favourable association with regional pegmatite swarms within the tenement areas. It is worth noting that both Sigma Lithium’s Grota do Cirilo spodumene mine and Latin Resources Colina Project are surrounded by the same G4 supersuite granites as those mapped most closely to the tenements that Hertz holds the Option to acquire. These compelling geological associations point to lithium potential within these exploration areas.

Hertz acknowledges that the tenements under Option have not undergone any exploration activities to date, and as a result, the existence of pegmatites and/or lithium mineralisation remains uncertain. Nonetheless, a comprehensive desktop review of the regional and local geology, along with the presence of significant spodumene mining and development activities in close proximity, offers supplementary evidence supporting the potential of the tenements.

Transaction Structure and Consideration

As consideration for the acquisition of the Option and pursuant to the terms and conditions of the Assignment Agreement, the Company has agreed to pay an aggregate of $148,000 in cash, as follows:
- reimburse Brascan $3,300 in claim maintenance within two days following the execution of the Assignment Agreement;
- pay Brascan $15,000 within two days following the execution of the Assignment Agreement;
- pay Brascan $105,000 in exchange for Brascan issuing 3,000,000 common shares to the Optionors, within five business days following confirmation that the shares have been issued; and
- pay Brascan $25,000 on or before 45 days following the execution of the Assignment Agreement.
In order to exercise the Option in accordance with the terms and conditions of the Option Agreement, the Company must:
- pay BHBC $50,000 by September 20, 2023;
- pay BHBC $3,300 by September 20, 2023 to cover mineral right taxes;
- incur $100,000 in exploration expenditures on the Patriota Lithium Project by September 20, 2023;
- pay BHBC $3,300 to cover mineral right taxes up to June 30, 2024;
- pay BHBC $50,000 by October 1, 2024;
- incur $100,000 in exploration expenditures on the Patriota Lithium Project by September 30, 2024; and
- pay $50,000 by September 30, 2025.
The Optionors will retain a 2% NSR with the Company having the option to repurchase 1% of the NSR for a cash payment of $500,000 for a period of two years after the commencement of commercial production.

Additionally, upon the confirmation of the existence of spodumene from surface sample assays results on the Patriota Lithium Project grading minimum 1% lithium, the Company will be required to pay Brascan $100,000 in cash.

Mr. Kal Malhi, Chairman and Director of Hertz, commented, “We are laser focused to build Hertz Lithium into a multi-faceted lithium mineral exploration company with our Lucky Mica Lithium Project in Arizona and now the Patriota Lithium Project in Brazil and our Penn State Lithium Extraction Patent Licence. We continue to seek additional high-quality projects across the world and build our lithium development portfolio into a strong offering for investors seeking an opportunity to invest into the generational investment opportunity that the lithium sector offers.”

About Hertz Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include, the Lucky Mica Project, is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil. The Company is also working with Penn State University’s College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology.

Qualified person

Harrison Cookenboo Ph.D., P. Geo. and a Qualified Person as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information in this news release and has approved the disclosure herein.

For further information, please contact Hertz Lithium or view the Company’s filings at www.sedarplus.ca.

On Behalf of the Board of Directors

Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

https://hertzlithium.com

REFERENCES:

CPRM 2016A: MAPA GEOLÓGICO E DE RECURSOS MINERAIS DE LÍTIO:

CPRM 2016B: PROJETO AVALIACAO DO POTENCIAL DO LITIO NO BRASIL.

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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August 14, 2023
New Energy Metals Announces Option Agreement for Atikokan Lithium Property and Amends Troitsa Agreement

2023-08-14 06:06:45

Vancouver, British Columbia – TheNewswire – August 14, 2023 – New Energy Metals Corp. (TSXV:ENRG) (OTC:NRGYF) (“New Energy” or the “Company “) is pleased to announce that it has entered into an option agreement (the “Agreement“) dated July 28, 2023, to acquire a 100% interest in the highly prospective Atikokan Lithium Property (the “Property“). The Property consists of 4 mining claims comprising 3,788 hectares and is located approximately 12 km east of Atikokan, Ontario (Figure 1).

Figure 1. Regional location of the Atikokan lithium property.

The claims straddle the contact between a peraluminous S-type muscovite-bearing granite and metasediments within the Quetico subprovince (Figure 2). The Quetico-Marmion subprovincial boundary lies just 4 km north of the Property. Numerous lithium deposits of northwestern Ontario occur proximal to a subprovincial boundary (Breaks et al., 2003). Historically, the Atikokan area has documented strongly anomalous lake sediment results in Li, Rb, Cs, Ga and Sn (Jackson, 2001). Muscovite-bearing pegmatite dykes and small pegmatitc granite masses are widely exposed along Highway 11 between Nym Lake Road junction and west to Niobe Lake (McIlwaine and Larsen 1981a, 1981b). In 2003, Breaks et al., took 16 bulk rock samples along Highway 11 largely within the Property boundary (Figure 3). Bulk rock chemistry showed a significant number of anomalous lithium values. Lithium ranged from 11 to 164 ppm with a mean content of 72 ppm, however, 25% and 60% of the data, respectively, exceeded 100 ppm and 50 ppm. Taylor (1964) states that lithium values exceeding 100 ppm indicate extreme fractionation.

The Gilbert Lake rare-element mineral occurrence, sample 01-JBS-78-07 within the Property boundary was the most evolved pegmatitic rock encountered by the survey. This beryl-type pegmatite contains maximum levels in this area for most rare-elements: Be (18 ppm), Cs (80 ppm), Li (99 ppm), Rb (524 ppm), Sn (177 ppm), Ta (20 ppm), Nb (42 ppm) and Ga (81 ppm) (Breaks et al., 2003).

Figure 2. Regional geology of the Atikokan lithium property.

Figure 3. Bulk sample locations by Breaks et al., 2003.

For the rare alkali metals, cesium was significantly enriched 7 to 25 times above its mean crustal abundance for 80% of the data population and varied from 3.9 to 80 ppm. Many values exceeded 15 ppm, a level considered by Černý and Meintzer (1988) to indicate significant fractionation in granitic systems. Rubidium had a range of 5 to 534 ppm and mean content of 270 ppm.

In essence, Breaks et al., 2003 summed up their reconnaissance prospecting and mapping with:

“The anomalous Li, Rb, Cs, Sn and Ga documented in the bedrock by this survey corroborate the earlier lake sediment geochemistry work of Jackson (2001). Exploration for rare-element mineralization in the area should therefore focus on the numerous lake sediment anomalies for these metals in the general area as there is a close correlation with bedrock chemical data at least in the Nym-Niobe lakes area. The discovery of columbite-tantalite group minerals and beryl by this survey gives strong indications that, with careful prospecting, further rare-element minerals may be discovered. The presence of elevated Ta contents in bulk muscovite at localities 01-FWB-126 and 01-JBS-81 suggests that they should be investigated further for possible tantalum mineralization”.

Under the terms of the Agreement, New Energy has the right to acquire a 100% interest in the Property by making aggregate cash payments of $66,000 over a period of two years. The optionors will retain a 3% net smelter returns royalty.

The technical information contained in this news release has been reviewed and approved by Mike Kilbourne, P. Geo., a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The acquisition is an arm’s length transaction and qualifies as an “Exempt Transaction” pursuant to the policies of the TSX Venture Exchange.

The Company also wishes to announce that it has amended the terms of the Troitsa option agreement (the “Troitsa Agreement”) pursuant to which the Company will issue 900,000 shares (the “Shares”) of the Company to the optionor in lieu of the cash payment of $45,000 due in July 2023. The Company or its assignees will have the right of first refusal to purchase the Shares. All other terms of the Troitsa Agreement remain the same.

ON BEHALF OF THE BOARD OF DIRECTORS,

New Energy Metals Corp.

Rishi Kwatra
CEO & Director

#610 – 700 West Pender Street
Vancouver, BC V6C 1G8 Canada
Tel: 604-669-9788

www.new-enrg.com

References

1. Breaks, F.W., Selway, J.B. and Tindle, A.G. 2003. Fertile peraluminous granites and related rare-element mineralization in pegmatites, Superior Province, northwest and northeast Ontario: Operation Treasure Hunt; Ontario Geological Survey, Open File Report 6099, 179p.

About New Energy Metals Corp.

New Energy is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol ENRG. The Company has an option to purchase a 100-per-cent interest in the Roslyn lithium property, covering 5,100 hectares located 20 kilometers southeast of the Georgia Lake pegmatite field and 35 kilometers southeast of where Rock Tech Lithium just published a preliminary economic assessment supporting the indicated mineral resource of 10.6 Mt (million tons) grading 0.88 per cent lithium oxide and an inferred mineral resource of 4.2 Mt grading 1.0 per cent Li2O. The Company also has an option to purchase a 100-per-cent interest in the Troitsa copper property covering approximately 7,000 hectares located in the Omineca mining division of British Columbia.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement on Forward Looking Information

Certain statements made, and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “speculates”, “could” or “would”.

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

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August 14, 2023
Precipitate Gold Terminates Option to Acquire Motherlode Project, Newfoundland

2023-08-11 14:13:22

Vancouver, BC – TheNewswire – August 11, 2023 – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:PRG) (OTC:PREIF) announces it has elected to terminate the two underlying property option agreements granting Precipitate the exclusive right to earn a 100% interest in a combined 6,100 hectares of mineral exploration licences making up a substantial portion of the Motherlode Project located within the Burin Peninsula of southern Newfoundland, Canada.

In the fall 2022 the Company conducted a diamond drill program comprised of 2,716 metres of drilling in 12 drill holes. Highlight core sampling results included intercepts yielding 12.1 metres of 1.0 gram per tonne gold (hole ML22-03), including 3.0m of 2.2 g/t Au and 4.5m of 0.94 g/t Au (hole ML22-04), including 3.5m of 1.07 g/t Au. These results supported a reinterpretation of the Motherlode Zone’s gold mineralization model type from the originally postulated orogenic gold model to a low sulphide replacement style model. Upon further evaluation of the data, management has determined the project no longer meets the Company’s threshold for ongoing expenditures.

Precipitate maintains its 100% interest in an adjoining 6,250 hectares of mineral exploration licenses acquired by direct staking and execution of a purchase agreement. These claims are not part of the underlying option agreements and remain in good standing without any immediate work requirements. The Company has no exploration plans for this ground and does not expect to carry out any further work in the area.

Precipitate continues to actively evaluate and review additional properties for possible acquisition.

For reference: g/t = grams per tonne, Au = gold, m = metres

This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company has entered into an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company’s Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value, in other favourable jurisdictions.

Additional information can be viewed at the Company’s website www.precipitategold.com.

On Behalf of the Board of Directors of Precipitate Gold Corp.,

“Jeffrey Wilson”

President & CEO

For further information, please contact:

Tel: 604-558-0335 Toll Free: 855-558-0335 This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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August 11, 2023
Pacific Bay Minerals Atlin Goldfields Option Not Proceeding

2023-08-11 11:38:42

Vancouver, British Columbia–(Newsfile Corp. – August 11, 2023) – Reagan Glazier, President & CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (“Pacific Bay” or the “Company”) reports that the Company’s option agreement with Brixton Metals Corporation (“Brixton”) to acquire the Atlin Goldfields Project has terminated. The Company was not in a position to make the $200,000 cash payment to Brixton and notwithstanding Pacific Bay’s attempt to renegotiate the terms of the option, Brixton elected to terminate the agreement.

“Market conditions did not support the significant cash, stock and work commitments, including 3.1M in cash payments and 8.25M additional shares to be issued,” said President & CEO Reagan Glazier. “Pacific Bay can now focus its attention on its 100% owned Haskins-Reed and Wheaton Creek projects.”

About Pacific Bay Minerals

Pacific Bay has a portfolio of properties in Northwest British Columbia including the Haskins Reed, 30km East of the Cassiar townsite, and Wheaton Creek projects. Short term focus will be spent on exploring the two projects and identifying new targets within the highly prospective regions for both precious and transitional metals.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that statements relating to the Company’s business plans and strategies, statements regarding mineral exploration activities, the Company’s business plans, and other matters. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the mineral exploration industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

Contact Information

Reagan Glazier
President, CEO
Telephone: +1 403 815 6663 or +1 604 558 5847
This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.pacificbayminerals.com/

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August 11, 2023

ZincX Provides Option on Kechika North Project

2023-08-10 00:09:14

VANCOUVER, BC / ACCESSWIRE / August 10, 2023 / ZincX Resources Corp. (“ZincX Resources” or the “Company”) (TSX Venture Exchange:ZNX)(US:ZNCXF)(FRA:M9R ) is pleased to announce that the Company’s Kechika North Project has been optioned to an arm’s-length third party (the “Optionee”) based in British Columbia.

The Optionee has been provided an option to acquire 100% ownership of 103 contiguous mineral claims that make up the Kechika North Project; the northern extension of the Company’s contiguous, district-scale land holdings that cover 140 kilometers northward from the Company’s flagship Akie Property.

The deal grants the Optionee an option to acquire an undivided 100% legal and beneficial right, title and interest in and to the Kechika North Project for a cash payment of $3 million dollars; to be made within two (2) years from the effective date of the agreement.

The Kechika North Project represents a contiguous group of claims that covers part of the Kechika Trough and is comprised of 6 properties identified by past historical exploration; named from south to north: Kwad, Weiss, Bear/Spa, Driftpile South, Saint and Thro.

CEO Peeyush Varshney stated, “We are pleased to announce this arrangement. The properties that make up the Kechika North Project have not had modern follow-up ground exploration and have seen little to no work over the past 35 years. Importantly and strategically, this option agreement provides ZincX with potential significant non-dilutive funding.”

The Company’s flagship Akie Project is host to the large 43-101 compliant Cardiac Creek deposit and remains, along with the southern Kechika Properties, the primary corporate focus.

In addition to the Akie Project, the Company’s southern Kechika Properties include the 100% owned highly prospective Mt. Alcock Property which consists of 21 claims covering 9,173 hectares and is located approximately 40 kilometres to the northwest of the Akie property and 20 kilometres from Teck Resources/Korea Zinc’s Cirque property. The Mt. Alcock property remains a high-priority and is host to a prominent, highly visible barite kill zone that has been subject to historical drilling. The limited and extremely shallow drilling by previous operators intersected mineralisation with significant grade such as 9.30% combined Zn+Pb and 1.20 oz/t Ag over a downhole thickness of 8.8 metres in drill hole AK-89-3 including 14.20% combined Zn+Pb and 1.60 oz/t Ag over 3.6 metres (²) hosted in Gunsteel formation shale. Facies models derived by the Company from close examination of the Cardiac Creek deposit can be applied to the Mt. Alcock prospect and greatly assist in vectoring future targeted drilling at depth and down dip of prospective lithology.

Zinc has now been designated as a Critical Mineral in both Canada and the United States. Similar to copper or lithium, Zinc will be crucial for the ever demanding and increasing green economy (Solar, Wind, Battery Storage applications). The recognition of Zinc as a Critical Mineral has led to significant investments in the Canadian zinc junior space. Fireweed Metals Macmillan Pass project has attracted significant investment from the Lundin Family ($25 million) and Osisko Metal’s Pine Point project recently received a large investment from Appian Capital ($100 million). These projects, along with the Akie Project are all at the Preliminary Economic Assessment stage of development. As such, the Company’s flagship Akie Project, specifically the Cardiac Creek Zn-Pb-Ag deposit, has been the target of increased market interest.

ZincX Resources Corp. (TSX V: ZNX, US: ZNCXF, FRA: M9R) is a Canadian exploration and development company creating value in the critical metals space – with a focus on zinc. Zinc is a versatile and essential material for the energy transition to a lower-carbon economy. It is already one of the most used metals in the world behind iron, aluminum and copper but also has applications in energy storage. It also plays a vital role in enabling other clean energy technologies like solar and wind.

ZincX Resources is well-positioned to take advantage of the worldwide looming shortfall in zinc production with the development of its Cardiac Creek (Akie property) deposit – which can help Canada meet its need for the critical mineral zinc and the global push towards decarbonization to combat climate change.

The Akie Zn-Pb-Ag Project

The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

Drilling on the Akie property by ZincX Resources since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.

The Company updated the estimate of mineral resources at Cardiac Creek in 2018, as follows:

5% Zinc Cut-Off Grade					Contained Metal:
Category	Tonnes (million)	Zn (%)	Pb (%)	Ag (g/t)	Zn (B lbs)	Pb (B lbs)	Ag (M oz)
Indicated	22.7	8.32	1.61	14.1	4.162	0.804	10.3
Inferred	7.5	7.04	1.24	12.0	1.169	0.205	2.9

The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA). The PEA envisages a conventional underground mine and concentrator operation with an average production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-of-mine (LOM) through resource expansion at depth. Key parameters for the PEA are as follows:

Parameter	Base Case¹
Tonnes Mined	25.8 Mt
Mined Head Grades	7.6% Zn; 1.5% Pb; 13.08 g/t Ag
Tonnes Milled	19.7 Mt
Milled Head Grades (after DMS² upgrade)	10.0% Zn; 1.9% Pb; 17.17 g/t Ag
Total Payable Metal (LOM)	$3,960M³
Initial CAPEX	$302.3M including $45.7M contingency
LOM Total CAPEX	$617.9M including $58.5M contingency
All-in Total OPEX	$102.4 per tonne milled
Pre-Tax NPV_7%	$649M
Pre-Tax IRR	35%
Pre-Tax Payback	2.6 years
After-Tax NPV_7%	$401M
After-Tax IRR	27%
After-Tax Payback	3.2 years

The base case used metal prices are calculated from the 3 year trailing average coupled with two year forward projection of the average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.

The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.

Kechika Regional Project

In addition to the Akie Project, the Company maintains 100% ownership of large contiguous block of the southern Kechika Trough, including the advanced Mt. Alcock prospect. The Kechika Regional Project also includes the Pie, Yuen and Cirque East properties which the Company maintains a significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc Co. Ltd holding 51%. These properties collectively extend northwest from the Akie property for approximately 85 kilometers covering the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.

Zinc (Zn)

Zinc is one of many critical metals facilitating the transition to a low-carbon and greener future and is used in renewable energy storage systems and through the protection of steel to improve its durability and service life in solar and wind turbine applications. The primary uses of zinc are the galvanization of steel protecting against corrosion due to weather conditions, the production of brass and bronze, and in die-casting to produce a wide range of metal products. In agriculture, zinc can also increase crop yields and crop quality and is an essential nutrient in human development and disease prevention.

Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the PEA technical information contained in this release.

(1) Carne, R.C., 1980; Report on Diamond Drilling on the Bear and SI Claim Group, British Columbia Ministry of Energy, Mines and Petroleum Resources, Assessment Report 8626, 51p

(2) Murrell M. and Roberts W., 1990. 1989 Exploration Program on the Mt. Alcock Property in the Kwadacha Recreational Area, Northern British Columbia, Ministry of Energy and Mines, Assessment Report 19829, 111p.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

ZINCX RESOURCES CORP.

“PEEYUSH VARSHNEY”

PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN

Contact:

Investor Relations
Phone (604) 684-2181
This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: ZincX Resources Corp.

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August 10, 2023

Velocity Minerals Enters into Option Agreement to Acquire 75% Interest in the Kalabak Gold – Copper Property in Bulgaria

2023-08-09 05:28:51

Underexplored property proximal to Ada Tepe gold mine and Rozino gold deposit

Vancouver, British Columbia–(Newsfile Corp. – August 9, 2023) – Velocity Minerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) (“Velocity” or the “Company“) announces that it has entered into a letter agreement with Zelenrok EOOD, a wholly-owned subsidiary of Raiden Resources Limited (collectively with Zelenrok, “Raiden“), whereby Velocity has been granted an exclusive option to acquire a 75% interest (the “Option“) in and to the prospecting and exploration license covering the Kalabak gold-copper property (“Kalabak” or the “Property“), located in southeastern Bulgaria. To exercise the option, Velocity must complete 5,000m of drilling and a Mineral Resource estimate prepared in accordance with National Instrument 43-101 (“NI 43-101“), over a five-year period.

Kalabak Property Highlights

Under-explored property, located in a highly prospective gold mineral belt
Potential for epithermal gold-silver and porphyry copper-gold deposits
Historical drilling is limited and focused only on one prospect

Location and Regional Setting

The Kalabak property is located approximately 10 kilometres north of Dundee Precious Metals Ada Tepe operating open pit mine (4.26 Mt at 4.8 g/t Au)¹ and 6 kilometres northwest from Velocity’s Rozino deposit (11.8 Mt at 1.22 g/t gold)². The host stratigraphy at Ada Tepe and Rozino is preserved over a 10 kilometres strike length at Kalabak and represents a compelling regional target for sediment hosted epithermal gold-silver mineralization. Historical exploration completed by Raiden, including field mapping and sampling, confirmed the presence of a porphyry mineralizing environment. Additionally, three new structural zones with mineralization and vein textures are described which indicate an epithermal environment similar to that observed at Ada Tepe and Rozino.

The Kalabak prospecting license is located within a prolific epithermal and porphyry belt hosting gold and base metals (Figure 1 and 2), which transects southeastern Bulgaria, Northern Greece and western Turkey.

The property area covers Eocene to Oligocene gold-dominated magmatic mineralizing systems hosted within volcano-sedimentary pull-apart basins and underlying basement. The volcano-sedimentary package dips shallowly to the north-west and consists of clastic lacustrine sediments overlying the basement (similar to Ada Tepe and Rozino), volcanic rocks of andesitic composition, and limestones. Late andesite stocks intruded the volcano-sedimentary package at several locations and highlights the potential for a larger concealed feeder intrusive with copper-gold porphyry mineralization at depth.

Historically most of the exploration efforts, including 1,350m of historical drilling, were focused over the Sbor porphyry copper-moly-gold prospect. Exploration work throughout the remainder of the Property is limited to regional soil geochemistry, completed on very coarse grid.

Planned exploration includes geochemical screening planned to be completed in 2023, with drill testing of targets slated for 2024.

Figure 1. Map showing the location of the Property within the prospective Eocene gold – copper mineral belt transecting Bulgaria, Greece and Turkey and highlighting the location of operating mines, formerly operating mines, and mines under development. Readers are cautioned that aside from Rozino, Kalabak, Makedontsi, Obichnik, Iglika and Zlatusha, the mines and deposits labelled above are adjacent properties and that Velocity has no interest in or right to acquire any interest in the deposit, and that mineral deposits on adjacent or similar properties, and any production therefore or economics with respect thereto, are not in any way indicative of mineral deposits on Velocity’s properties or the potential production from, or cost or economics of, any future mining of any of Velocity’s mineral properties.

¹ Dundee Precious Metals NI 43-101 Technical Report from 2020 Proven and Probable Reserves of 4.26 Mt of 4.8 g/t Au (658,000 ounces Au) and 3.0 g/t Ag (414,000 ounces Ag).

² Velocity Minerals NI 43-101 Technical Report from 2021 Probable Mineral Reserve at a 0.5 g/t gold cut-off grade of 11.8 Mt at 1.22 g/t gold for 464,000 ounces.

Figure 2. Map showing the Property location relative to the Rozino, Obichnik, and Makedontsi projects.

Commercial Terms

To exercise the Option in full and acquire a 75% interest in the Property, Velocity must: (i) complete 5,000m of drilling on the Property; (iv) deliver an Inferred Mineral Resource estimate on a deposit on the Property prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“); (Tables 1).

Table 1. Requirements to Exercise Option.

Date	Drilling (m)	Deliverable	Vesting
First Anniversary	–	—	—
Second Anniversary	1,000	—	—
Third Anniversary	1,000		–
Fourth Anniversary	2,000		–
Fifth Anniversary	1,000	Inferred Mineral Resource estimate	–
Option Total	5,000	—	75%

Velocity will be under no obligation to fulfill any of the Option Earn-In Requirements, all of which will be at the sole discretion of Velocity. If Velocity exercises the Option, Velocity and Raiden will be deemed to have formed a Joint Venture with Velocity initially owning 75% and Raiden owning 25%. If a participant’s participating interest in the Joint Venture falls below 15%, that participant will transfer its participating interest to the other participant in exchange for the grant of an ongoing royalty to be paid at 1% of net smelter returns (the “1% NSR Royalty“). The participant with the largest participating interest in the Joint Venture will have the right, but not the obligation, exercisable at any time prior to a production decision to purchase half of the 1% NSR Royalty (being 0.5%) for the sum of $1.5 million.

The Property is subject to an existing 2% net smelter royalty held by Gold Bull Resources Corp. (the “Gold Bull Royalty“), of which, prior to commencement of commercial production: (i) an initial 0.5% of the total Gold Bull Royalty can be purchased for USD$2,500,000 (reducing the Gold Bull Royalty from 2% to 1.5%); and (ii) a further 1% of the total Gold Bull Royalty can be purchased for USD$5,000,000 (reducing the Gold Bull Royalty from 1.5% to 0.5%).

Pursuant to the terms of the Letter Agreement, the Velocity and Raiden will negotiate in good faith toward the execution and delivery of a definitive property option agreement (the “Definitive Agreement“), which will incorporate the terms and conditions of the Letter Agreement and such other terms and conditions as may be agreed to by the parties.

Advisory Services Agreement

Velocity also announces that it has received TSX Venture Exchange (“TSXV“) acceptance for the previously announced advisory agreement (the “Advisory Agreement“) with Leede Jones Gable Inc. (the “Advisor“), whereby the Advisor has agreed to assist in initiating a strategic review of the Company (see news release dated May 5, 2023). Pursuant to the terms of the Advisory Agreement, the Advisor will provide financial and general business advisory services to the Company over a 12-month period (unless terminated earlier in accordance with its terms).

In consideration of the Advisor providing advisory services to the Company, the Company (i) paid the Advisor a $10,000 cash fee; (ii) will issue an aggregate of 500,000 common shares to the Advisor during the term of the Advisory Agreement; (iii) will pay a commission of 7% cash and 7% common share purchase warrants on any financing raised by or through the Advisor; and (iv) may pay a success fee in cash or shares upon certain conditions being met or pay an additional fee to be negotiated between the parties if the Advisor provides a fairness opinion. The payment of the commission or success fee by the Company will be subject to future TSXV approval upon the relevant transaction or action triggering the payment occurring.

Qualified Person

The technical content of this release has been approved for disclosure by Daniel Marinov, RPGeo, a Qualified Person as defined by NI 43-101 and the Company’s Vice President Operations. Mr. Marinov is not independent of the Company as he is a director, officer, shareholder, and holds incentive stock options.

About Velocity Minerals Ltd.

Velocity is a precious metals and copper explorer focused in Eastern Europe. In Bulgaria, Velocity has a 70% interest in the Tintyava property, which includes the prefeasibility-stage Rozino deposit. Velocity also has a 70% interest in the Momchil property (which includes the Obichnik project), a 70% interest in the Nadezhda property (which includes the Makedontsi project), and a 70% interest in the Dangovo property (which is contiguous with the Makedontsi project). The Company holds a 100% interest in the Iglika copper-gold exploration property and recently entered into an option agreement with DPM who have an option to earn a 75% interest in the property. The Company has also entered into agreements to acquire a 75% interest in the Zlatusha and Kalabak copper-gold exploration properties.

On Behalf of the Board of Directors

“Keith Henderson”
President & CEO

For further information, please contact:

Keith Henderson
Phone: +1-604-484-1233
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web: www.velocityminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the Option by Velocity, the entering into of the Definitive Agreement, the formation of the Joint Venture, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “will”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will obtain TSX Venture Exchange acceptance, if applicable, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Property in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Property, and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Property, the fact that the Company’s interest in the Property is an option only and there is no guarantee that such interest, if earned, will be certain, estimation or realization of mineral reserves and mineral resources, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading “Risk Factors” in the Company’s latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

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August 9, 2023

Ekeko S.A. Unilaterally Purports to Terminate Option Agreement with A.I.S. Resources

2023-08-08 17:44:07

VANCOUVER, British Columbia, Aug. 08, 2023 (GLOBE NEWSWIRE) — A.I.S. Resources Limited (TSX-V: AIS, FRA: 5YHA) (the “Company” or “AIS”) today announced that Ekeko S.A. (Ekeko) has unilaterally declared the Exploration and Purchase Option Agreement between AIS and Ekeko, dated June 10^th, 2021 to be terminated for alleged breach of contract by AIS. AIS rejects the allegation of breach and rejects Ekeko’s purported termination of the Agreement.

AIS validly exercised the option on Pocitos 1 prior to the contractual deadline of June 30^th. Furthermore, Ekeko breached the Agreement by (i) refusing in bad faith to honour the option exercise, and (ii) failing to obtain the mandatory legal certificates to prepare and execute the Transfer Deed for the Pocitos 1 property, as required under the Agreement.

The Pocitos 1 property was further optioned by AIS to Spey Resources Corp. (CSE: SPEY). As a result of this breach by Ekeko, AIS was unable to perform its obligations under its option agreement with Spey. Monies placed in trust by Spey with AIS to complete the option exercise have been returned to Spey.

Andrew Neale, President & CEO of AIS commented, “We are at a loss to understand the actions of Ekeko. We proceeded on a good faith basis to live up to our side of the agreement and believe that AIS is in full compliance with the June 2021 Exploration and Option Purchase Agreement.”

As a result of the financial harm this has caused AIS, AIS intends to aggressively pursue its legal remedies in Argentina and takes the position that Ekeko is unable to transfer good title to the property free from the AIS claim.

About A.I.S. Resources Limited

A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. AIS’s value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The Company is managed by a team of experienced engineers, geologists, and investment bankers, with a track-record of successful capital market achievements.

On Behalf of the Board of Directors, AIS Resources Ltd.
Andrew Neale
President & CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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August 8, 2023
Genius Metals Inc. Announces Private Placement Offering of Common Share Units, Option Plan Amendment and Grant of Options

2023-08-07 14:32:58

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

MONTRÉAL, Aug. 7, 2023 /CNW/ – Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Corporation”) is pleased to announce its intention to complete a non-brokered private placement offering (the “Offering”) of up to 8,000,000 units of the Corporation (the “Units”) at a price of $0.05 per Unit for aggregate gross proceeds of up to $400,000. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (a “Warrant”) in the capital of the Corporation. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.10 per share for a period of 24 months from the closing date of the Offering (the “Closing Date”).

The net proceeds will be used by the Corporation to incur exploration expenses and for general working capital purposes.

All securities issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

The Offering is subject to TSX Venture Exchange (the “TSXV”) final approval.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

Option Plan Amendment and Grant of Options

The Corporation announces that its board of directors has approved an amendment to its stock option plan pursuant to which the number of common shares available for issuance pursuant to options granted thereunder is increased from 4,600,000 to 8,600,000 (the “Amended SOP”). This amendment is subject to TSXV approval.

Subject to TSXV approval, the Corporation has granted 2,200,000 options, including 1,700,000 options to directors and officers of the Corporation. These options are granted in accordance with the terms of the Amended SOP. All options vest on their date of grant and each option entitles the holder thereof to purchase one common share of the Corporation at a price of $0.10 for a period of five years from July 27, 2028.

About Genius Metals

Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.

Forward-Looking Statements and Disclaimer

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “expected” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the Corporation’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, such as TSXV approval. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

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August 7, 2023

Perseverance Metals Enters into Option Agreement with Altius Minerals and Bitterroot Resources to Acquire Voyageur Nickel Project in Michigan, USA

2023-08-01 15:39:48

Perseverance Metals Inc. (“Perseverance” or the “Company”) is pleased to announce that it has entered into a purchase option agreement (the “Option Agreement”) with Altius Minerals (ALS-TSX) Corp. (“Altius”, 50.1% owners) and Bitterroot Resources (BTT-TSXV) Ltd. (“Bitterroot”, 49.9% owners) to acquire a 100% interest in the 680 square kilometre (260 square mile) Voyageur nickel-copper-cobalt-PGM Project (the “Voyageur Project”) in the Upper Peninsula of Michigan, approximately 65 kilometres west of Lundin Mining’s (LUN-TSX) Eagle nickel-copper-cobalt-PGM mine – the only active primary nickel mine in the United States.

Voyageur becomes Perseverance Metals’ third North American critical minerals project, joining the Lac

Gayot nickel-copper-cobalt-PGM project in central Quebec, which was optioned from Osisko Development (ODV-TSXV) in December 2022, and the Armit Lake nickel-copper-cobalt project in NW Ontario which was wholly acquired earlier this year.

The Option Agreement gives Perseverance the exclusive option until December 31, 2025 to earn a 100% interest in the Voyageur Project from Altius Resources Michigan Inc, a wholly owned subsidiary of Altius Minerals Corp., and from Trans Superior Resources Inc. and Voyageur Lands Corp, each a wholly owned subsidiary of Bitterroot Resources Inc. by:

Initial Equity: Issuing to Altius and Bitterroot a total of 20% ownership in the equity of Perseverance, to be distributed based on their pro-rata ownership of the Voyageur Project.

Exploration Commitment: Incurring C$2,000,000 in exploration expenditures on the Voyageur Project before December 31, 2025, including C$250,000 within the first 12 months.

Financing Commitment: Raising aggregate gross proceeds of C$5,000,000 within 18 months (the “Equity Financings”), with Altius and Bitterroot retaining a combined 20% free-carry interest on any common shares issued pursuant to the Equity Financings.

Go-Public Commitment: Perseverance becoming a reporting issuer in Canada within 18 months, subject to a conditional 6-month extension.

Michael J. Tucker, President and CEO of Perseverance commented, “The Voyageur Project is both a valuable addition to our growing nickel-copper-cobalt-PGM exploration portfolio, and an asset that we feel will be highly attractive to critical metals investors, particularly in the United States.

“Voyageur is located in the Midcontinent Rift flood basalt province and is underlain by the same geological assemblages as the Eagle nickel mine 65 kms east. The presence of nickel-copper-PGM bearing maficultramafic intrusions within and near the boundaries of the project, and numerous drill-ready targets made Voyageur one of our highest-ranked acquisition targets. The large size of the project, the nature of its recorded minerals ownership rights, plus excellent local and regional road access, services, and infrastructure add to its attractiveness.

“We believe Voyageur has the potential to be rapidly advanced to the discovery stage and we look forward to collaborating with and drawing from the experience and deep technical knowledge of Altius and Bitterroot, and drill testing the project’s exciting targets soon.”

Michael Carr, CEO of Bitterroot commented, “I am looking forward to supporting the team at Perseverance. They are a highly motivated and experienced group, with the technical and financial expertise to rapidly advance the Voyageur Project.

“As a significant shareholder of Perseverance, Bitterroot’s shareholders will benefit from Perseverance’s management, capital markets and exploration skills, in addition to gaining exposure to two other high-quality magmatic nickel projects: Lac Gayot in Quebec and Armit Lake in NW Ontario, plus any of their future property acquisitions. I fully endorse Perseverance’s strategy of exploring for high-grade magmatic sulphide ore deposits in leading North American mining jurisdictions.”

About the Voyageur Project

The Voyageur Project (Figure 1) is comprised of 668 square kilometres of privately owned mineral rights, plus 12 square kilometres of State of Michigan metallic minerals leases in the Upper Peninsula of Michigan, located 65 kilometres west of the Eagle nickel-copper-cobalt-PGM mine. Eagle is the only active primary nickel mine in the United States and has been in production since 2014, with a pre-mining resource of approximately 6.6Mt at 3.7% nickel 3.1% copper, 0.10% cobalt, and 1.5 g/t combined platinum, palladium, and gold.

Figure 1 – Generalized Geologic Map of the Voyageur Project

The Voyageur Project is situated on the south flank of the 1.1 Ga Keweenawan Midcontinental Rift (MCR) – a large, relatively underexplored igneous province that hosts several high-grade Ni-Cu-PGM deposits in the Lake Superior region. Layered mafic-ultramafic intrusions and mafic dikes on the property were emplaced during MCR magmatism and controlled by pre-rift structures, including the reactivated Great Lakes Tectonic Zone (GLTZ). Mesoproterozoic (1.11 Ga) mafic-ultramafic rocks on the Project intrude Early Proterozoic metasedimentary rocks of the Baraga group, which are also the host rocks of the Eagle mine.

A 4,562 line-km VTEM Plus survey flown by Altius and Bitterroot in 2015 defined 52 target areas and nine discreet, high ranking nickel sulphide targets, several of which have since been validated by ground-based large-loop Time Domain Electromagnetic (TDEM) surveys, but none of which have been drill tested. Prospecting around the targets has identified outcropping ultramafic olivine pyroxenite, which is a favourable host rock for conduit-hosted nickel-copper-cobalt-PGM deposits. Perseverance’s team plans to further evaluate, refine, and then drill-test the best of these VTEM targets as soon as possible.

All nine high-priority drill targets on the Voyageur Project are readily accessible via paved and gravel access roads. The region contains significant infrastructure to support mining and boasts a straightforward exploration permitting process.

About Perseverance Metals

Perseverance Metals is pioneering a best-in-class North American critical minerals exploration company with a carefully curated, growing portfolio of high-grade nickel-copper-cobalt-PGM projects in Quebec, Michigan, and Ontario. Perseverance has assembled an industry-leading board of directors, management and technical teams, and an advisory board with mining and capital markets skillsets encompassing greenfield nickel exploration through globally significant nickel discoveries, mine development, and production.

Perseverance was created to identify, acquire, and aggressively explore high quality critical mineral assets – with a particular focus on high-grade magmatic nickel-copper-cobalt-PGM sulphide projects – in pursuit of discoveries that will definitively achieve critical mass size and grade to advance and attract acquisition.

Perseverance’s projects include: 1) the Lac Gayot nickel-copper-cobalt-PGM Project, which covers the entirety of the very high-grade Venus Greenstone Belt in Quebec and boasts multiple +8% nickel tenor occurrences; 2) the Voyageur nickel-copper-cobalt-PGM Project which covers 680 square kilometres of the Upper Peninsula in Michigan, 65 kilometres west of the only producing nickel mine in the US and; 3) the Armit Lake nickel-copper-cobalt Project, which is the recently consolidated and underexplored western half of the nickel- and gold-rich Savant Lake Greenstone Belt, Ontario.

The execution of Perseverance’s strategy provides investors with unrivalled exposure to multiple discovery opportunities of some of the most highly sought-after mineral deposits in the modern world.

Additional information about Perseverance Metals can be found at perseverancemetals.com .

Additional information about Altius Minerals and Bitterroot Resources can be found at altiusminerals.com and bitterrootresources.com

On Behalf of the Board,

Michael J. Tucker

President, CEO and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Perseverance Metals Inc.

Michael J. Tucker, President & CEO

+1 (778) 834-3528

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Perseverance Metals Inc.

John Foulkes, VP Corporate Development

+1 (604) 614-2999

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Forward-Looking Statements

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of Mineral Resources and Reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the’s expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long-term price of nickel, copper, cobalt, platinum and palladium; that the Company can access financing, appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

Neither the Toronto Stock Exchange nor its Regulation Service Provider has reviewed or accepts responsibility for the adequacy or accuracy of this news release.

Qualified Person

Michael J. Tucker P.Geo., President, CEO and Director of Perseverance Metals Inc., and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for any technical information contained in this release.

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August 1, 2023

A.I.S. Resources Declines to Exercise Option on Yareta XIII Salar in Argentina

2023-08-01 07:52:29

VANCOUVER, British Columbia, Aug. 01, 2023 (GLOBE NEWSWIRE) — A.I.S. Resources Limited (TSX-V: AIS, OTCPINK: AISSF, FRA: 5YHA) (the “Company” or “AIS”) confirms the Company will not proceed with the option to acquire a 100% interest in the 1,525 hectare Yareta XIII lithium concessions in Salta, Argentina.

Andrew Neale, President & CEO of AIS commented, “AIS acquired this option in June 2021 as part of a larger package of lithium properties arranged by the company’s previous CEO. While the concession area is quite large, less than half lies over the southern extent of the Cauchari Salar in Jujuy Province, the remaining concession area is over the exposed faces of the surrounding hills. A review of historical drilling data on the concession indicated the presence of fresh water only, with no significant lithium levels. The cost to exercise this option was slightly over US$1.5 million, and AIS sees no economic incentive to continue with this property. Despite providing a comprehensive technical information package to numerous companies with expertise in lithium exploration, AIS has not received any third party offers to exercise this option.”

About A.I.S. Resources Limited

A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. AIS’s value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The Company is managed by a team of experienced engineers, geologists, and investment bankers, with a track-record of successful capital market achievements.

On Behalf of the Board of Directors, AIS Resources Ltd.
Andrew Neale
President & CEO
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Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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August 1, 2023

i-80 Gold Closes C$36.8 Million “Bought Deal” Private Placement, Including Full Exercise of the Underwriters’ Option

2023-08-01 06:33:07

RENO, Nev., Aug. 1, 2023 /CNW/ – i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) (“i-80”, or the “Company”) is pleased to announce the closing of its previously announced “bought deal” brokered private placement offering (the “Offering“) of an aggregate of 13,629,800 common shares of the Company (the “Common Shares“) at a price of C$2.70 per Common Share for aggregate gross proceeds to the Company of C$36,800,460, including the exercise in full of the underwriters’ option. The Offering was led by CIBC Capital Markets, as lead underwriter, on behalf of a syndicate of underwriters that included Canaccord Genuity, National Bank Financial Markets, SCP Resource Finance, Stifel GMP, BMO Capital Markets, Cormark Securities, RBC Capital Markets and Scotiabank.

The net proceeds received from the Offering are intended to be used for the exploration, development and ramp-up (including working capital) of the Company’s mineral projects and for general corporate purposes and working capital. Specifically, it is intended that the funds raised will primarily be directed towards the upcoming milestone payment for the Ruby Hill project, drilling expenditures for Ruby Hill, Granite Creek and Cove, permitting expenses and the further development of Granite Creek project.

The following “insiders” of the Company have subscribed for Common Shares under the Offering (the “Insider Participation“):

Insider	Insider Relationship	Common Shares Purchased (#)	Subscription Amount (C$)
Ewan Downie	Director and Senior Officer of i-80	110,000	$297,000.00
Equinox Gold Corp.	10% securityholder of i-80	1,000,000	$2,700,000.00
Matthew Gili	Senior Officer of i-80	12,194	$32,923.80
Matthew Gollat	Senior Officer of i-80	18,518	$49,998.60
Christina McCarthy	Director of i-80	3,704	$10,000.80
Gregory Smith	Director of i-80	18,519	$50,001.30
Ryan Snow	Senior Officer of i-80	21,600	$58,320.00
	Totals		$3,198,244.50

Each of the subscriptions by an “insider” is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61‑101“). The Insider Participation is exempt from the formal valuation and minority shareholder requirements under MI 61-101 in reliance upon the exemptions contained in section 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the Insider Participation was not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons.

All securities issued under the Offering are subject to a hold period expiring four months and one day from the date hereof. The Offering is subject to final acceptance of the Toronto Stock Exchange and the NYSE American.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and, accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

About i-80 Gold Corp.

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company’s advanced-stage property portfolio with processing at i-80’s centralized milling facilities. i-80 Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol IAU:TSX and IAUX:NYSE. Further information about i-80 Gold’s portfolio of assets and long-term growth strategy is available at www.i80gold.com or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including but not limited to, statements regarding the use of proceeds of the Offering and the timing and ability of the Company, if at all, to obtain final approval of the Offering from the Toronto Stock Exchange and the NYSE American. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: the failure to obtain the final acceptance of the Offering from the Toronto Stock Exchange and the NYSE American; material adverse changes; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration, refurbishment, development or mining programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

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August 1, 2023

Noble Mineral Exploration Acquires Option Properties

2023-07-31 04:38:29

Toronto, Ontario – July 31, 2023 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) is pleased to announce that it has acquired a total of 44 mining claims (the “Claims”) in Mann, Duff, and Reaume Townships, covering an area totaling approximately ~904 hectares. The Claims were acquired after payment, exploration expenditure commitments and other conditions were satisfied in accordance with two option agreements entered into by Noble in 2021. Under both transactions, each optionor or group of optionors have retained a 2% NSR subject to Noble’s right to buyback half of the NSR for $1,000,000 per property during the first four years after the date of each royalty agreement. In addition, Noble is on track of acquiring a third optioned property totaling 229 mining claims in Mann, Duff and Hanna Townships, covering an area totaling approximately 4,932 hectares. For further details regarding the original transactions on the Claims and the third optioned property (collectively, the “Properties”), please refer to the news release issued by Noble on August 11, 2021.

The Properties are a portion of the 625 mining claims (the “Optioned Claims”) of an option and joint venture agreement between Noble and Canada Nickel Company Inc. (“Canada Nickel”) whereby Canada Nickel has the right to acquire an up to 80% interest in the Optioned Claims subject to satisfying certain conditions. For further details regarding the option and joint venture agreement between Noble and Canada Nickel, please refer to the news release issued by Noble on February 24, 2022.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as its ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, its ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of which are in the Province of Quebec. More detailed information is available on the website at: https://www.noblemineralexploration.com

Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB.”

Cautionary Statement

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

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July 31, 2023
Power Nickel Exercises Option & Adds to Management Team as It Expands Its Focus on Nisk
2023-07-31 00:02:42
TORONTO, ON / ACCESSWIRE / July 31, 2023 / Power Nickel Inc. (“Power Nickel” or the “Company“) (TSX-V:PNPN)(OTCQB:PNPNF)(Frankfurt:IVVI) is pleased to announce it has exercised its option to acquire 50% of the Nisk project (the “Option“). Nisk is a High-Grade Nickel PGM Project near Nemaska, Quebec. In addition, the Company has notified our partner Critical Elements Lithium Corp. (“Critical Elements“) that it intends to exercise its second option to acquire an additional 30% interest to bring ownership in the project to 80%. The last remaining obligation in respect of the second option is the delivery of a NI 43-101 Technical Report, which includes a resource estimate, under NI 43-101, which is expected to be delivered late Q3 or early Q4.

As set out in the Company’s February 25, 2021, news release, listed below are the terms of the Option that Power Nickel has now fulfilled:
1. Make cash payments totaling $500,000 to Critical Elements (all of which were completed within six months of the original option agreement)
2. The issue to Critical Elements 12,051,770 shares of the Company (all of which were issued in 2021)
3. Incur an aggregate of $2.8-million of work expenditures on the Nisk property on or before the dates set out below:
  
  $500,000 in work expenditures within the first year of the agreement;
  
  $800,000 in work expenditures within the second year of the agreement; and
  
  $1.5-million in work expenditures within the third year of the agreement, which have now been completed
“Nisk has been an amazing success story for Power Nickel and Critical Elements. The exploration success is building, and we are confident the best is yet to come. We look forward to getting our technical resources out there and completing a Feasibility study on the project. That will be the last condition prior to entering a true 80:20 JV with our partner Critical Elements. The CRE Team has been excellent to work with and has really helped us to achieve the exploration success we are building on for both Companies”.

In addition, Power Nickel would like to announce it has hired two key individuals to help move the Company toward the goal of building Canada’s first Carbon Neutral Nickel Mine. Kenneth Williamson has been hired as Vice-President – Exploration, and Duncan Roy as Vice President – Investor Relations.

Kenneth Williamson (M.Sc., P.Geo), is a professional geologist with over 15 years of experience in the mining industry. Ken graduated from the University of Laval with a Master’s in Structural Geology in 2002. 2004-2010, he worked as a Special Projects Geologist at the Goldcorp Red Lake Gold Mines. Kenneth has been, amongst other tasks, in charge of elaborating the unified Campbell-Red Lake deposit-scale and Red Lake district-scale 3D litho-structural models.

In 2010, Ken accepted a job for the “Bureau de l’Exploration Géologique du Québec” (BEGQ), where he had the opportunity to work on a regional mapping campaign in the Matagami area, which culminated with the elaboration of the Matagami district scale 3D model. From 2011 to 2013, he was a Project Geologist with InnovExplo, a Val-d’Or-based consulting firm, where he developed his Mineral Resource Estimate skills. Late in 2013, he joined Premier Gold Mines, first as a Senior Geologist and later as the Technical Services Manager, where he was responsible for providing geological, modeling, and resource estimate expertise to various project teams. In 2017, Ken returned to the consulting business and created 3DGeo Solution Inc. (3DGS) shortly after. Since then, through 3DGS, he has provided structural geology expertise, 3D litho-structural modeling, and integrated Mineral Resource Estimate solutions to various clients, including Power Nickel.

“As we move deeply into the continued exploration and development at Nisk we need to build our team. While we are very pleased to have the accomplished GeoVector team https://www.geovector.ca/, we need our internal team to help oversee and direct the exploration and help compile our data for the coming permitting and feasibility plans we are expediting. Ken did the original modeling on Nisk, which led to our first real drilling success, and has been with the project since we took over. We are confident Ken can hit the ground running and add a ton of value right away”. Commented Power Nickel CEO, Terry Lynch

Duncan Roy is a University of Western Ontario graduate with a BA in Political Science. He brings a sophisticated, highly experienced, and diverse knowledge base to his current role with Power Nickel. Since 2019 he has run a highly successful Capital Markets Advisory company. Prior to that, he spent over three decades plus in the brokerage industry, based in Toronto, as a retail broker with a PDO designation and various management roles.

“You cannot have a successful junior mining company if you cannot raise capital. To do that, you need experienced executives who can credibly present investments to individuals, brokers, and institutions. Duncan is a very successful ex-broker who is held in high esteem across the investment landscape. I would feel quite comfortable having Duncan present the Power Nickel investment and know that he will do a great job of hitting that correct level of expertise and optimism while delivering our features and benefits honestly and respectfully.” Commented Power Nickel CEO, Terry Lynch

Private Placement

The Company also wishes to announce a small hard-dollar private placement of $200,000. Up to 800,000 units issued at $0.25 per unit will consist of one common share and one share purchase warrant. Each warrant will consist of one common share exercisable for five years at $0.25, subject to an accelerated expiry provision. The warrants are subject to an acceleration clause that entitles the Company to notify holders that the warrants will expire 30 days from the date the Company provides the acceleration notice. The Company can only provide the acceleration notice if the closing price of the Company’s common shares on the TSX Venture Exchange is equal to or greater than $0.50 for ten consecutive trading days. The acceleration notice can be provided at any time after the statutory hold period. Before the expiry date of the warrants, The private placement is subject to TSXV approval and is expected to close shortly.

About Power Nickel Inc.

Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nisk project into Canada’s first Carbon Neutral Nickel mine.

On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE:TSXV)

The NISK property comprises a large land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. Power Nickel is expected to reorganize these assets in a related public vehicle through a plan of arrangement.

Power Nickel announced on June 8^th, 2021, that an agreement had been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in 130 million ounces of gold, 800 million ounces of silver, and 40 billion pounds of copper (Resource World). This property hosts two known mineral showings (gold ore and Magee), and a portion of the past-producing Silverado mine, reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold and plus/minus copper.

Power Nickel is also 100 percent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit sold to a subsidiary of Teck Resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3 million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.

For further information on Power Nickel Inc., please contact:

Mr. Terry Lynch, CEO
647-448-8044
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For further information, readers are encouraged to contact:

Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing for the Company to close the private placement or the second Nisk option or risk that such transactions do not close at all; raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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July 31, 2023
Austral Gold Reports Expiry of Option with Pampa Metals

2023-07-27 05:02:57

Sydney, Australia–(Newsfile Corp. – July 27, 2023) – Established gold producer Austral Gold Limited’s (ASX: AGD) (TSXV: AGLD) (Austral or the Company) announces the expiry of the option agreement entered into with Pampa Metals announced on 28 July 2021, whereby it could acquire up to an 80% interest in the Cerro Blanco and Morros Blancos projects located in Chile. Since the start of the agreement, Austral conducted exploration activities that cost approximately US$1.6 million of on the projects.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
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+61 466 892 307

Gareth Quinn
Media and Investor Relations
Republic PR
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+61 417 711 108

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July 27, 2023
Angkor Resources Announces Stock Option Grant

2023-07-26 13:18:49

Grande Prairie, Alberta – TheNewswire – July 26, 2023 – Angkor Resources Corp. (TSXV:ANK) and (OTC:ANKOF) (“Angkor” or the “Company”) announces the Company has issued 5,100,000 common share purchase options (the “Options”, and each an “Option”) pursuant to the Company’s stock option plan (the “Plan”).

The Company issued 5,100,000 Options to certain directors, officers, employees, and consultants of the Company, who are eligible to receive the Options under the Plan. Each Option grants the holder the right to purchase one Common Share at a purchase price of $0.08 per Common Share for a period of 5 years from the date of issue. Accordingly, the Options expire July 25, 2028.

ABOUT ANGKOR RESOURCES CORPORATION

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across the country. The company holds three mineral exploration licenses in the country and in late 2022, its subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia. Angkor’s carbon capture and gas conservation project in Saskatchewan, Canada proves its long-term commitment to Environmental and Social projects across expanding jurisdictions.

CONTACT:

Delayne Weeks – CEO

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: angkorresources.com Telephone: +1 (780) 831-8722

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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July 26, 2023
Corcel Exploration Announces Extension Agreement for Peak Property Option Agreement

2023-07-25 13:05:15

Kelowna, British Columbia–(Newsfile Corp. – July 25, 2023) – Corcel Exploration Inc. (CSE: CRCL) (the “Company”) is pleased to announce that it has reached a binding agreement (the “Amending Agreement”) with Chrisopher R. Paul and Oliver Friesen (collectively, the “Optionors”) to amend the terms of the letter agreement dated August 4, 2020 between the Company and the Optionors (the “Option Agreement”), relating to the Peak Mineral Property in British Columbia, Canada (the “Property”).

Under the Option Agreement, the Company had to incur an aggregate of $250,000 in exploration expenses on the Property, including $100,000 before December 31, 2020 (the “First Milestone”) and $150,000 by July 20, 2023 (the “Second Milestone”). The Company satisfied the First Milestone in accordance with the terms of the Option Agreement and the parties have agreed to extend and amend the terms of the Option Agreement to provide that the Company may complete the exercise of the option by incurring the exploration expenses required for the Second Milestone before July 20, 2024.

Pursuant to the Amending Agreement and in consideration of extending and amending the terms of the Option Agreement, the Company will issue an aggregate of 1,000,000 common shares in the capital of the Company (each, a “Common Share”) to the Optionors.

Oliver Friesen, an Optionor, is a director of the Company and accordingly the Amending Agreement constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that the fair market value of the Common Shares to be issued pursuant to the Amending Agreement does not exceed 25% of the Company’s market capitalization.

About Corcel Exploration Inc.

The Company is a mineral resource company engaged in the acquisition and exploration of mineral resource properties. Its objective is to locate and develop precious metals, focusing initially on the exploration and development of the Property. The Company holds an option to acquire a 100% undivided right, title, and interest in and to the Property. From time to time the Company may also evaluate and acquire other mineral properties of merit.

For further information contact:
Stephen Dunn
Interim Chief Executive Officer
Tel: (416) 361-2827

Caution Regarding Forward-Looking Information

This news release contains statements and information that, to the extent they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward- looking information is based on the reasonable assumptions and estimates of management made based on experience and their perception of trends, current conditions and expected developments, all of which management believes to be reasonable in the circumstances at the date hereof, but which may ultimately prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the outcomes expressed or implied by the forward-looking information herein, including but not limited to the factors discussed under “Risk Factors” in the Company’s final long form prospectus dated October 13, 2021 available on the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking information. The Company does not undertake any obligation to update any forward-looking information herein to reflect new developments after the date hereof, except as required by applicable securities legislation.

The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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July 25, 2023

Goldflare Exploration Announces Adoption of New Stock Option Plan

2023-07-24 10:32:49

PIEDMONT, QC / ACCESSWIRE / July 24, 2023 / Goldflare Exploration Inc. (TSXV:GOFL) (“Goldflare” or “the Company”) announces that its board of directors has approved a new “rolling 10%” stock option plan (the “New Plan”) subject to approval of the Company’s shareholders. The New Plan has been conditionally approved by the TSX Venture Exchange and will be submitted to the Company’s shareholders for approval at its 2023 annual meeting of shareholders. The New Plan will replace the Company’s “fixed number” stock option plan. Pursuant to the New Plan, the board of directors may grant stock options to directors, officers, employees, and consultants of the Company up to a maximum of 10% of the total the number of issued and outstanding shares of the Company from time to time, less any shares reserved for issuance under the “fixed number” option plan. More details about the New Plan are provided in the management information circular for the 2023 annual meeting of shareholders.

For more information:

Ghislain Morin
CEO
819-354-9439
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Serge Roy
Chairman of the Board
819-856-8435
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July 24, 2023

Monarch Mining Signs Royalty Buyback Option Agreement With Gold Royalty
2023-07-24 04:36:07
MONTREAL, July 24, 2023 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQB: GBARF) has entered into a royalty buyback option agreement with Gold Royalty Corp. (“Gold Royalty”) regarding the McKenzie Break, Swanson and Croinor properties (the “Property”).

Monarch will have the right, exercisable for a period of 24 months, to repurchase up to a 1% NSR for each of the McKenzie Break royalty, Swanson royalty and Croinor royalty (the “Buyback Right”) for the consideration provided below (the “Buyback Consideration”). In order to exercise the Buyback Right, Monarch, together with the eventual purchaser or purchasers (the “Purchaser”) of any Property, must deliver to Gold Royalty a written notice of election to exercise such right, with an agreement that would establish the terms and conditions of the exercise of such option to be entered into among Gold Royalty and the Purchaser.

The Buyback Consideration is payable in cash or in voting shares of the Purchaser at the sole election of Gold Royalty and is as follows:

(a) For a period of 12 months following the buyback (the “Initial Period”):
1. $2 million in cash for each Property for which the Buyback Right is exercised; or
2. $2.5 million in voting shares of the Purchaser.
(b) For a period starting on the first day following the end of the Initial Period and ending on the 24th month following the buyback:
1. $2.5 million in cash for each Property for which the Buyback Right is exercised; or
2. $3 million in voting shares of the Purchaser.
The issuance of voting shares by the Purchaser to Gold Royalty might be subject to regulatory approval.

About Monarch

Monarch Mining Corporation (TSX: GBAR) (OTCQB: GBARF) is a gold mining company that owns four projects, including the Beaufor Mine, which is currently on care and maintenance and has produced more than 1 million ounces of gold over the last 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned Beacon Mill with a design capacity of 750 tpd. Monarch owns 29,504 hectares (295 km²) of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resource of 666,882 ounces and a combined inferred resource of 423,193 ounces.

Forward-looking statements

All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the entering into royalty buyback option agreements, the intended results of the initiatives described in this press release, and generally those statements which are discussed under the “About Monarch” paragraph and elsewhere in the press release which essentially describe the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of Canadian, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, the Corporation’s ability to continue as a going concern, the Corporation being a going concern able to realize its assets and discharge its liabilities in the normal course of business as they come due into the foreseeable future, the generation of interest for its review of a range of alternatives, in either the sale of part or all of the Company or its assets, a merger or other business combination with another party, a potential investment in Monarch, a debt restructuring, or other strategic initiatives with the goal of maximizing return in respect of the Company’s assets, the ability of the Corporation to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Corporation, the business conditions of the Corporation will not change In a materially adverse manner, expectations that the business of the Corporation will continue in the ordinary course, litigation as well as cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in Monarch’s Annual Information Form dated September 28, 2022, including in the section thereof captioned “Risk Factors”, which is available on SEDAR at www.sedar.com. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the manuals of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
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July 24, 2023
Element79 Gold Announces Stock Option Grant, Provides Financial Update

2023-07-20 19:14:13

Vancouver, BC – TheNewswire – July 20, 2023 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) (“Element 79 Gold“, the “Company“) announces that it has granted incentive stock options to Certain Directors, Officer and consultants of the Company to purchase an aggregate of 2,875,000 common shares of the Company at an exercise price of $0.05 per common share expiring three years from the date of grant. The stock options are granted in accordance with the Company’s Stock Option Plan, which was approved by the shareholders at the Company’s annual general meeting on June 22, 2022, and the policies of the Canadian Securities Exchange.

Cancellation of Previously Announced Convertible Debenture

The Company further announces that due to market conditions it will not be proceeding with its previously announced placement for the issuance of convertible debentures as announced May 5, 2023. The Company continues to have financing discussions with several parties regarding equity and/or debt capitalization, streaming financing options, project sales and alternative financing arrangements for its portfolio of projects with a priority of advancing Lucero, Maverick Springs, and two projects from its Battle Mountain portfolio, Clover and West Whistler.

Further Strengthening the Balance Sheet Through Shares for Debt Agreements

As a final financial update, the Company intends to further strengthen its Balance Sheet by entering debt settlement agreements with several creditors, settling $106,250 of corporate debts with 2,125,000 Shares priced at $0.05.

About Element79 Gold

Element79 Gold is a mining company focused on gold, silver and associated metals and committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold’s main focus is on two core properties: developing its previously-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to bring it back into production in the near term; and its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties. Maverick Springs hosts a 43-101-compliant, pit-constrained mineral resource estimate reflecting an inferred resource of 3.71 million ounces of gold equivalent “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag) with an effective date of October 19, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which are non-core to its primary business focus. In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James.

The Company also has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process through the rest of 2023. The Company continues to negotiate the sale of its non-core Battle Mountain projects and the Snowbird Property.

For more information about the Company, please visit www.element79.gold

Contact Information

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1.613.879.9387

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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July 20, 2023
Atha Energy Announces $12 Million Option with Stallion Discoveries for Exploration of Southwestern Athabasca Claims
2023-07-18 06:03:17
VANCOUVER, BC, July 18, 2023 /CNW/ – ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company“) is pleased to announce that it has signed a definitive agreement (the “Agreement“) with Stallion Discoveries Corp. (TSXV: STUD) (“Stallion“), providing Stallion an ability to earn an option (the “Option“) to acquire a 70% interest in 47 mineral claims in Saskatchewan, Canada (the “Claims“) by acquiring the requisite portion of the Company’s current 90% interest, after meeting certain milestones.

The area hosting the Claims is found across the uranium-rich, southwest segment of the Athabasca Basin, which is home to some of the most promising areas for uranium exploration activity within the region.¹ The Claims span a total of 547,520 acres and are located in an area that is highlighted by several of the most important uranium discoveries in recent decades.¹

Troy Boisjoli, CEO of ATHA commented, “At Atha Energy, our objective is discovery and development of Canada’s next generation of world class uranium projects in the Athabasca Basin. With today’s announcement, Stallion Discoveries will now have access to over half a million acres of highly prospective property proximal to the largest high-grade uranium discoveries made in the last twenty years. As the largest land holder in the Athabasca Basin, Atha Energy will continue to deploy a multilevel approach to developing projects and creating the most value for its shareholders. It’s an exciting time for the uranium sector in Saskatchewan, and we are positioning Atha Energy to be Canada’s leading uranium exploration company.”

Transaction Highlights

Under the terms of the Agreement, Stallion may acquire a 70% interest in the Claims by meeting certain milestones, including the issuance of common shares in the capital of Stallion to ATHA as well as the accumulation of $12,000,000 in Saskatchewan Exploration Expenditure Credits on the Claims over the course of five (5) years from the effective date (the “Effective Date“) of the Agreement. These milestones include:
- Within two days of the Effective Date, Stallion shall issue 3,333,333 Stallion shares to ATHA;
- Within twelve (12) months after the Effective Date, Stallion shall incur $3,311,770 of Saskatchewan Exploration Expenditure Credits towards the exploration of the Claims; and
- Within sixty (60) months after the Effective Date, Stallion shall incur a further $8,688,230 of Saskatchewan Exploration Expenditure Credits towards the exploration of the Claims.
Upon exercise of the option, a joint venture agreement (the “Joint Venture Agreement“) shall be entered into by ATHA and Stallion, with Stallion and ATHA (including the carried over interest of the legacy owner) holding a 70% and a 30% interest, respectively.

The Option is subject to the policies of the Canadian Securities Exchange on the part of ATHA, the approval of the TSX Venture Exchange on the part of Stallion, and other customary conditions as set out in the Agreement.

Notes:

[1] International Atomic Energy Agency Redbook (2022)

Qualified Person

The scientific and technical information contained in this news release as it relates to the Claims have been reviewed and approved by William Yeomans, P.Geo., a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About ATHA

ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. ATHA holds the largest cumulative exploration package in the Athabasca Basin, the world’s most prominent basin for uranium discoveries, with 3.4 million acres along with a 10% carried interest portfolio of claims operated by NexGen Energy Ltd. (TSX: NXE) and IsoEnergy Ltd. (TSX‐V: ISO).

For more information visit www.athaenergy.com

About Stallion

Stallion is an exploration company bred to pursue the exploration of large, underexplored land packages located in the best jurisdictions next to world class projects. Stallion is using modern exploration techniques to explore historical and new mineral targets on its expansive land packages in Saskatchewan, Idaho, and Nevada with the singular ambition of making significant discoveries. Our leadership and advisory team are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties with highly prospective targets.

For more information visit www.stalliondiscoveries.com

Forward-Looking Information and Statements

Certain information in this news release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “targets,” “expects” or “does not expect,” “is expected,” “an opportunity exists,” “is positioned,” “estimates,” “intends,” “assumes,” “anticipates” or “does not anticipate” or “believes,” or variations of such words and phrases or state that certain actions, events or results “may,” “could,” “would,” “might,” “will” or “will be taken,” “occur” or “be achieved.” In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances including, without limitation, statements regarding the execution of the Agreement and the grant of the Option thereunder, the ability of ATHA and Stallion to complete their obligations thereunder, the success and expectations of any exploration activities conducted on the Claims, exchange approval of the Option, the terms of the Option, the value of any securities of Stallion received by ATHA, the results of the services received by ATHA under the Services Agreement and the ability of Native Ads to execute its obligations thereunder all constitute forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by ATHA as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks regarding the uncertain nature of mineral exploration; commodity pricing; stock market volatility and general market conditions; changes in global and regional demand for products; the business prospects of ATHA, Stallion and Native Ads, competition; inflation; trade uncertainties as a result of, among other things, the COVID-19 pandemic, the Russian-Ukrainian war and changes to global trade restrictions and tariffs; the availability of credit on commercially reasonable terms; foreign exchange risks; legal and regulatory risks (including changes in law or regulation); risks related to relationships with stakeholders including any first nations or aboriginal groups; costs of inputs; weather and other acts of god and their impact on activities proposed to by carried on by ATHA, Native Ads or Stallion; and the factors described in greater detail in the “Risk Factors” section of ATHA’s final prospectus dated March 23, 2023 available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect ATHA; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. There is no assurance ATHA and Stallion will enter into the Agreement or that ATHA, Stallion and Native Ads will be able to comply with their covenants thereunder and under the LOI and the Services Agreement, as applicable. The forward-looking statements contained in this news release are made as of the date of this news release, and ATHA expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the CSE nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this release.
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July 18, 2023
North Valley Resources Completes Spring Exploration Program on Comstock Property and Announces Amended and Restated Comstock and Barnum Property Option Agreements

2023-07-13 13:39:15

Kamloops, British Columbia–(Newsfile Corp. – July 13, 2023) – North Valley Resources Ltd. (CSE: NVR) (“North Valley” or “the Company”) is pleased to announce that it has completed its 2023 spring exploration program on the Comstock property. The Company had British Columbia-based Precision GeoSurveys perform a high-resolution airborne magnetometer and radiometric survey on the entire Comstock property. The final results and report on the survey are expected later in September.

Additionally, the Company is pleased to announce that, on July 12, 2023, the company entered into an amended and restated option agreement with respect to the Comstock Property (the “A&R Comstock Option Agreement”) with a director of the company. This A&R Comstock Option Agreement amends and restates the previously disclosed Comstock option agreement dated April 14, 2021, pursuant to which the Company has the option to acquire an undivided 100% interest in the Comstock property from a director of the Company “the Optionor”. The Comstock Property is comprised of 19 contiguous claims covering 2,573 hectares in the Nicola Mining District, approximately 7 kms south of Merritt, B.C.

The Company is also pleased to announce that, on July 12, 2023, the company entered into an amended and restated option agreement with respect to the Barnum property (the “A&R Barnum Option Agreement”). This A&R Barnum Option Agreement amends and restates the previously disclosed Barnum option agreement dated June 15, 2020, as amended on April 14, 2021, pursuant to which the Company has the option to acquire an undivided 100% interest in the Barnum property from a director of the Company “the optionor”. The Barnum Property is comprised of 7 contiguous claims covering 308 hectares in the Kamloops mining district, approximately 15 kms east of Kamloops, B.C.

The Company and the Optionor have amended the Barnum Property Option Agreement terms schedule such that the Company will not have to make share or cash payments, or exploration expenditures prior to the Company’s second and third listing anniversaries. The Company’s milestone payments for the fourth-year listing anniversary have been changed to $550,000 in cash payment, a 600,000 share payment, and $810,000 in exploration expenditures. No other terms of the option agreement have been amended.

The Company and the Optionor have amended the Comstock Property Option Agreement terms schedule such that the Company will not have to make share or cash payments on the Company’s second listing anniversary, and will have to reach exploration expenditures of $30,000 by the Company’s second listing anniversary. Additionally, the Company will now have to make a share payment of 200,000 shares and reach exploration expenditures of $50,000 by the Company’s third listing anniversary. Also, on the Company’s fourth listing anniversary, the Company will now have to make a $585,000 cash payment and reach exploration expenditures of $625,000. No other terms of the option agreement have been amended.

North Valley is a mineral exploration company focused on the identification, acquisition, and exploration of mining properties. The Company is primarily focused on exploring its optioned Comstock Property that is comprised of 19 contiguous claims covering 2,573 hectares in the Nicola Mining District, approximately 7 kms south of Merritt, B.C.

For further information, please contact Quinn Ellerbeck, CFO, Director at This email address is being protected from spambots. You need JavaScript enabled to view it..

Forward-Looking Statements

This press release may contain “forward-looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

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July 13, 2023
Valterra Resource Signs Letter of Intent to Option Properties in Thompson Nickel Belt, Manitoba
2023-07-11 06:34:27
Vancouver, British Columbia–(Newsfile Corp. – July 11, 2023) – Valterra Resource Corporation (TSXV: VQA) (“Valterra” or the “Company”) reported today that it has signed a non-binding letter of intent with CanAlaska Uranium Ltd. (“CanAlaska”) to earn up to an 80% interest in the Strong, Strong Extension, Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt (“TNB”), Manitoba (the “Licenses”). (See Figure 1)

Figure 1 – North Thompson Dispositions Location Map

The transaction is subject to the execution of a definitive agreement which will provide that Valterra may earn:
- a 49% interest in the Licenses by making a cash payment of $35,000, issuing 5,000,000 common shares (“Shares”) and incurring exploration expenditures of $2,000,000 over the first 2 years.
- an increased interest to 70% by making a cash payment of $50,000, issuing 7,500,000 Shares and incurring additional exploration expenditures of $3,500,000 in the third year.
- an increased interest to 80% by making a cash payment of $65,000, issuing 25,000,000 Shares and incurring additional exploration expenditures of $3,500,000 in the fourth and fifth years.
- The Company will also pay CanAlaska $3,000,000 after completing a positive feasibility study on the Licenses. The transaction is subject to approval of the TSX Venture Exchange.
The four Licenses are located 30 km north of the Thompson Nickel Mine and cover an area of 30,283 hectares. All nickel deposits in the TNB are within and closely associated with ultramafic bodies intruding metasedimentary and metavolcanic rocks of the favourable Proterozoic Opswagan Group, the ultramafic rocks providing the source of nickel and the Opswagan Group providing the source of sulphur. Nickel occurs as pentlandite and pyrrhotite, both Ni (Fe) sulphides. The favourable rocks are known to occur on all Licenses.

Nickel was discovered at the Thompson Mine in the early 1950s, and on the Strong License in the 1960s. In total, 6 billion pounds of nickel have been mined in the TNB, regarded as one of the major nickel camps in the world. 114 historical drill holes are reported on the Strong License, and an additional 25 holes on the other three Licenses during the period 1953 – 2005. A 2007 airborne VTEM survey has provided a new interpretation of ultramafic bodies within the Opswagan Group, developing new targets that have never been drilled. Valterra will spend the initial $2,000,000 refining these targets with further geophysics and diamond drilling. The Mel deposit is a typical ultramafic hosted nickel resource located 4 km south of the Licenses and reportedly hosting 82.5 million pounds of nickel (4.3 MT @ 0.875% Ni as an indicated resource). CanAlaska recently acquired the deposit (see CVV releases dated March 6, May 4 and May 15, 2023).

Valterra has commissioned APEX Geoscience Ltd. of Vancouver to produce a National Instrument (NI) 43-101 report. The report is to review the potential of economic nickel deposits on the Licenses and provide Stage I and II recommended expenditures for continued exploration and development.

About Valterra Resource Corporation

Valterra is a Malaspina/Manex Resource Group Company. The Group provides expertise in exploration, administration, and corporate development services for Valterra’s operations:

Swift Katie gold/copper property is well located near Salmo, British Columbia in an area that has historically hosted several important mining districts and is underlain by rocks favourable for the discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. Exploration to date has identified three separate Cu-Au deposits over an 1800 metre cumulative strike-length, and two prominent gold targets within a 2500-metre-long alteration zone which transects the southern part of the property.

Thompson, Manitoba nickel properties: With the opportunity to be part of the future for the electrification of the auto industry, Valterra intends to acquire and develop a significant portfolio of Nickel properties in the North Thompson Nickel Belt which will strategically position Valterra in a world class nickel district with a district scale land position ripe with targets, right beside properties owned and operated by Vale SA.

Pilar Gold: Pilar Gold Inc. and Laiva Gold Inc.: operations in Brazil and Finland. Valterra owns 4 million shares of Pilar Gold at a book value of C$2,400,000 and 500,000 shares of Laiva Gold at a current valuation of C$250,000. Pilar Gold operates the Pilar gold mine in Brazil and plans to restart the high-grade Sertão mine in 2024. Laiva Gold owns the Laiva gold mine and mill in Finland. Currently completing a number of property acquisitions, Pilar Gold announced recently its intention to list its shares on a Canadian Stock Exchange in early 2024 and Laiva Gold has recently signed a letter of intent with a CSE-listed shell company for an RTO by the end of 2023.

John R. Kerr. P. Eng., is a Director of Valterra Resource Corporation and a Qualified Person as defined by National Instrument 43-101. He has read and approves the technical content of this release.

On behalf of the Board of Directors,

“Lawrence Page”

Lawrence Page K.C., President, Valterra Resource Corporation

For further information, please visit Valterra’s website at valterraresource.com or contact Valterra at 604.641.2759 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding entering into the definitive agreement and the completion of the transaction, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding the exercise of the option(s) to acquire an interest in the Licenses, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation’s projects, and the availability of financing for Valterra Resource Corporation’s projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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July 11, 2023
Rock Tech Amends and Closes Option Agreement on Boston Lake Claims in Thunder Bay Mining District

2023-07-11 01:17:17

VANCOUVER, BC, July 11, 2023 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) announces that, further to its press release issued on May 25, 2023, the TSX Venture Exchange (the “TSX:V”) pre-approved the option agreement, as amended on June 29, 2023, (the “Agreement”), following which the Company has been granted the option to acquire a 100% undivided interest in the unpatented mining claims associated with the property of in total 6,150 hectares in the Thunder Bay Mining District of Ontario (the “Boston Lake Claims”).

During the three-year term of the Agreement, Rock Tech will make annual cash payments totaling 175,000 CAD and must incur aggregated exploration expenditures in the amount of 350,000 CAD in stages.

Concurrent with the cash payments, Rock Tech will issue in total a maximum of 88,361 common shares in the capital of the Company, on which the first tranche of up to 12,623 shares or the value of 25,000 CAD will be issued upon receipt of the regulatory approval of the terms of the Agreement.

The Agreement provides for a payment of 2 % net smelter return royalties (NSR) equalling to 2 % of the net value of products mined and removed from the property to the optionor. Provided by the terms of the Agreement, Rock Tech has the right at any time to purchase from the optionor 1% of the 2% royalties by way of a one-time payment of 1,000,000 CAD.

On behalf of the Board of Directors, 
Dirk Harbecke
Chairman & CEO

ABOUT ROCK TECH

Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The Company plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the Company’s proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded batteries. Rock Tech’s goal: to create a closed-loop lithium production system. www.rocktechlithium.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release constitute “forward-looking information” under applicable securities laws and are referred to herein as “forward-looking statements”. All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as “expects”, “anticipates”, “plans”, “predicts”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “may”, “will”, “should”, “would”, “could” or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, forward-looking statements contained in this news release include: estimations or predictions about the Mineral Resource or Reserve therein; the further potential of the Boston Lake Claims; and the Company’s future plans and expectations as described in the section “About Rock Tech”.

Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements. The material factors or assumptions used to develop the forward-looking statements include: the Exploration Expenditures, the existence of certain spodumene pegmatites, the possible type of mining and concentration of lithium; the distance required for transportation of concentrate; the Company’s ability to procure equipment necessary for its business; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; and that financing will be available to the Company on commercial terms. There may also be other factors that cause actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company’s most recent management’s discussion and analysis and annual information form filed with the applicable securities regulators.

No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

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July 11, 2023
Stria Lithium is pleased to announce that it has received the final milestone payment in option 1 of the earn in agreement with a payment of C$2 million in Cygnus Metals shares
2023-07-05 19:07:03
Ottawa, ON – TheNewswire – July 05, 2023 – Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to announce it has received the final milestone payment of C$2 million in Cygnus Metals shares. Cygnus Metals (ASX:CY5) has now earned 51 per cent of Pontax Central by spending C$4 million on exploration at the project and paying Stria C$3 million in payments (refer TSX/V release dated July 28th, 2022).

Under the first option, Cygnus Metals (ASX:CY5) can acquire a 51% undivided interest in Pontax Central by incurring exploration expenditures in the amount of $4 million and paying Stria a total of $3 million of which Stria has already received $1 million. Stria is pleased to announce it has agreed to receive the remaining $2 million dollars in shares of Cygnus Metals.

As a demonstration of the co-operation between Stria Lithium and Cygnus Metals the parties have agreed that the C$2 million payable upon achieving this milestone will be satisfied by the issue of Cygnus fully paid ordinary shares. Cygnus is already a 7% shareholder of Stria and these CY5 shares issued to Stria result in positive cross ownership between both partners.

A total of 9,129,825 shares have been issued to Stria at a deemed price of A$0.2475 per share (C$0.2191), being close to the 10-day VWAP of Cygnus shares.

Judith Mazvihwa-Maclean, CFO of Stria Lithium, said today: “Cygnus Metals continues to exceed our expectations in the rapid development of the Pontax Central project. This trend seems to be consistent within their portfolio of projects in the James Bay region. To this end we are pleased to become shareholders.”

Cygnus has claimed they continue to be on track to release a Maiden Mineral Resource (JORC) for Pontax Central late July or early August 2023.

About Stria Lithium

Stria Lithium (TSX-V: SRA) is an emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries.

Lithium is a rare metal and an indispensable component of rechargeable lithium-ion batteries, one of the safest and most efficient energy storage technologies available today, used in everything from cell phones and power tools to electric cars and industrial-scale energy storage for renewable power sources such as wind and solar generation.

Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 kilometres of strike along the prospective Chambois Greenstone Belt. The region, known as the Canadian “Lithium Triangle,” is one of only a few known sources of lithium available for hard rock mining in North America.

Stria has entered into a JV agreement with Cygnus Metals (ASX:CY5) on its Pontax Central project. Cygnus Metals is committed to fully funding and managing the current two-stage exploration and drilling program to a maximum of $10 million at Stria’s Pontax property, and will also pay Stria up to $6 million in cash. In return, Cygnus may acquire up to a 70% interest in the property. Cygnus has fulfilled its stage 1 requirements within the agreement and has now earned its 51% interest in the property as per above share issuance.

Stria’s other significant project, Pontax II covers 55 square kilometres, approximately 25 kilometres to the west-south-west of Pontax Central and is located adjacent to the Billy-Diamond paved highway. Stria has added to this project by recently acquiring 24 claims, for 1276.5 hectares that are strategically located northeast of Stria’s Pontax II claims.

Stria Lithium previously reported highly anomalous tantalum oxide grain counts in till samples up to 797 grains, the highest count ever recorded by the laboratory. The Pontax II grain counts stand at the 97.6 centile of the regional population with an average of 156 grains per sample as a comparative basis, a regional survey in the same area conducted by the Ministère de l’Énergie et des Ressources Naturelles du Québec, processed a total of 5950 tantalum oxide grains yielding an average count of 36 grains per samples. The conclusion being the grain counts are suggestive of the proximity of lithium bearing pegmatites.

Pontax II claims are in highly active prospective zones, situated to the west southwest of Stria/Cygnus lithium discovery and situated to the west of the Patriot Battery Metals (PMET.V) Pontax project, and south of Brunswick Exploration (BRW.V).

Stria’s Pontax properties are both situated close to an industrial powerline and a major paved highway, about 310 km north of the North American rail network that leads to the industrial heartland.

As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada and the U.S. are aggressively supporting the North American lithium industry, presenting the industry and its investors with a rare, if not unprecedented, opportunity for growth and prosperity well into the next decade and beyond.

Stria is committed to exceeding the industry’s environmental, social and governance standards. A critical part of that commitment is forging meaningful, enduring and mutually beneficial relationships with the James Bay Cree Nation (Eeyouch), and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.

For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com

Follow us on:
- Twitter@StriaLithium
- Instagram@strialithium
- Facebook
- LinkedIn
For more information on Stria Lithium Inc., please contact:

Dean Hanisch

CEO Stria Lithium

This email address is being protected from spambots. You need JavaScript enabled to view it.

+1(613) 612-6060

Investors Relations, Stria Lithium Inc.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.

Cautionary Note Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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July 5, 2023
Mink Ventures Commences Option for Warren Copper Nickel Project, Timmins, Ontario
2023-07-05 13:29:41
Toronto, Ontario–(Newsfile Corp. – July 5, 2023) – Mink Ventures Corporation (TSXV: MINK) (“MINK” or the “Company“) announces that it has issued 250,000 common shares of the Company (the “Common Shares“) and 250,000 warrants to purchase Mink common shares (the “Warrants“) to commence its previously announced option of the Warren Copper-Nickel Project (the “Warren Project“). The Warren Project consists of 14 patented mining claims covering 251 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see Figure 1).

To commence the option, MINK issued to US Copper Corp. 250,000 MINK common shares and 250,000 MINK three-year common share purchase warrants exercisable at a price of $0.25. To maintain and ultimately exercise the option MINK must incur $300,000 in exploration expenditures and issue an additional 750,000 MINK common shares within 21 months.

HIGHLIGHTS (see Figure 3):
- The Warren Project is drill ready. Mink’s geologists have completed an in-depth study of all available historical data and recent geophysical survey data. Some limited ground truthing to update GIS data prior to selecting drill targets will occur with a diamond drill program to follow.
- The Warren Project complements Mink’s key Montcalm project due to the distinctly similar, prospective geological environments as well as the presence of significant Cu Ni zones at Warren.
- Three distinct mineralized copper nickel zones have been identified and are designated Zones A, B, and C, outlined by both surface exploration and diamond drilling, focused mainly on Zones A and B over a strike length of ~600 meters.
- Historical work in the mid 1950’s included two B-Zone bulk samples by Maralgo Mines Ltd. Bulk Sample 1 returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and Bulk Sample 2 returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
- A resource* calculation of 385,000 tons of 1% Cu + Ni on the B Zone was outlined by Jade Oil & Gas. They drilled 23 holes to test Zones A and B in the mid 1950’s. Highlights include 2.5% Cu+Ni over 7.6 m and 2.8% Cu+Ni over 8.2 meters. *The resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied upon and is reported as a historical statement only.
- Geophysical data from magnetics, horizontal loop EM (HLEM) and induced polarization (IP) suggest a potential strike length of A and B Zones of approximately 800 meters.
- Limited exploration has been conducted on the C Zone other than a historical shaft. A recent (2021) grab sample in the shaft area muck pile by W. Hawkins, P. Eng returned 3.7 ppm Ag, 3940 ppm Cu, 1670 ppm Ni and 223 ppm Co. Geophysical surveys (magnetic, HLEM, and IP) support a potential strike length of C Zone of 1 kilometer.
References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)

“This strategic acquisition expands our exploration portfolio and discovery opportunity with a very complementary, second gabbro-hosted copper nickel sulphide project which shares a similar geological environment with our flagship Montcalm project. Both projects benefit from very cost-effective exploration due to their exceptional access, year-round exploration seasons, and proximity to the Timmins Mining Camp and all the advantages that come along with that,” said Natasha Dixon, President and CEO. “We are eager to begin our summer exploration program with a diamond drill program at Warren, and then our team will move up the road to Montcalm,” she added.

The Warren property is hosted within the Kamiskotia Gabbro Complex (KGC) and it is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010) (See Figure 2).

Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren Project complements Mink’s Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Project.

As highlighted above, the Warren Project has had a sporadic exploration history since the late 1920’s to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990’s and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. These targets are particularly evident in the accompanying magnetic and IP compilation map shown in Figure 3. As a result of this geophysical data being available, the Warren Project is drill ready with some minimal ground truthing of grids and occurrences.

Qualified Person

Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release. Note: Certain historical information pertaining to a historical resource estimate, is disclosed in this press release. The methods and parameters used to prepare this estimate and the category of the estimate is unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves.

About Mink Ventures Corporation

Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for battery metals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which covers approximately 40 km² adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the recent addition of the Warren Project, comprised of 14 patented mining claims covering 251 hectares. These complementary Ni Cu projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. After giving effect to the share issuance to commence the Option to acquire the Warren Project, the Company has 15,222,319 shares outstanding.

For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: This email address is being protected from spambots. You need JavaScript enabled to view it. or Kevin Filo, Director, T: 705-266-6818 or visit www.sedar.com.

Forward-Looking Statements

This press release includes certain “forward-looking information”, including, but not limited to, statements with respect to the option to acquire the Warren Project, the share issuances and exploration work required to exercise the option, TSX Venture Exchange approval of the option agreement, and the prospectivity of the Warren Project and the Montcalm Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MINK to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to MINK’s filings with Canadian securities regulators available on SEDAR. These forward-looking statements are made as of the date hereof and MINK disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.

Figure 1: Detailed Location Map

Figure 2: Regional Geology Map

Figure 3: Warren Project Compilation Map (Magnetics and IP)
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July 5, 2023
Storm Exploration Amends Option Agreement for Miminiska & Keezhik
2023-07-05 05:53:50
VANCOUVER, BC / ACCESSWIRE / July 5, 2023 / Storm Exploration Inc. (TSXV:STRM) (“StormEx” or the “Company”) today announced that the option agreement to acquire a 100% interest in the Miminiska and Keezhik properties has been amended.

Option Agreement Amendment

StormEx and Landore Resources Canada Inc. have agreed to amend the Option Agreement to acquire a 100% interest in the Miminiska and Keezhik Properties (see news release dated May 10^th, 2021: StormEx Signs Option Agreement to Acquire 100% Interest in Miminiska & Keezhik Properties). The amendment modifies the schedule of remaining option payments which are outlined in Table 1. All other aspects of the Option Agreement remain unchanged.

Key Points
- Price to acquire a 100% interest in Miminiska and Keezhik remains unchanged
- Payment dates for the final two instalments have been extended by four months each
Table 1: Remaining Option Payments for a 100% interest in Miminiska and Keezhik Properties

Payment Date

Cash

Convertible Shares¹

November 24^th, 2023
$250,000

$500,000

May 24^th, 2024
$500,000

$750,000

Total
$1,000,000

$1,500,000

¹StormEx can elect to make Convertible Share payments in cash or STRM shares with the number of shares defined by the 30-day volume weighted average price prior to the date of election.

About the Miminiska Property

The Miminiska Property is the Company’s key focus and comprises approximately 5,500 ha of patented and unpatented mineral claims covering abundant banded iron formation. The property includes the Miminiska and Frond Prospects where historical drilling has confirmed the presence of high-grade gold. Exploration work in the project area has identified several gold occurrences between Miminiska and Frond (see Figure 1). These previous results highlight the potential for additional discoveries of high-grade gold on the project.

Figure 1: Miminiska Property

* Historical results have not been independently verified by StormEx; and, there is no guarantee that the Company can reproduce the results in whole or in part. Potential investors should not rely on these historical results when making an investment decision

Qualified Person

The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo., President, CEO and a Director of Storm Exploration Inc. and Qualified Person under National Instrument 43-101.

About Storm Exploration Inc.

Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

For further information, please contact:

Storm Exploration Inc.
+1 (604) 506-2804
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July 5, 2023
Archer Exploration Announces Amendment to Parkin Option and Joint Venture Agreement
2023-06-29 05:34:28
VANCOUVER, BC, June 29, 2023 /CNW/ – Archer Exploration Corp. (CSE: RCHR) (OTCQB: RCHRF) (FSE: 6YR0) (the “Company” or “Archer“) is pleased to announce that it has entered into an agreement with Impala Platinum Holdings Limited (“Impala“) to amend the terms of the Parkin option and joint venture agreement (the “Parkin Option“).

Pursuant to the terms of the amended Parkin Option agreement, Archer may now acquire Impala’s remaining 49.6% interest in the Parkin offset joint venture by making i) an initial cash payment of C$500,000 by June 30, 2023, and ii) a deferred cash payment of C$500,000 by December 31, 2023. The Company has made the initial cash payment and intends to exercise the option by making the deferred cash payment by December 31, 2023.

“This amendment represents Archer’s first step in unlocking the value of our extensive portfolio of projects in the Sudbury Basin” stated Tom Meyer, Archer’s President & CEO, “The Parkin Project covers the entire 9.5 km long Parkin Offset Dyke, a well-endowed and largely underexplored corridor that will be the initial focus of Archer’s Sudbury exploration efforts. By deferring a portion of the Parkin Option payment, we have retained the short-term working capital flexibility required to expand the summer exploration program at our flagship Grasset project in Quebec. We look forward to simplifying the ownership structure of the Sudbury portfolio as we increase exploration activity towards the end of this year.”

Upon exercise of the Parkin Option, the Company will hold a 100% interest in the Milnet and Parkin East properties, a 98.5% interest in the Parkin property, and a 50% interest in the Parkin CBA property (Figure 1). The Company considers the Parkin Project to be a high exploration priority and will be a prime focus of exploration efforts in the Sudbury Basin.

The Parkin Project

The Parkin Project consists of four properties (Parkin, Milnet, Parkin CBA, and Parkin East) covering 25 km² located on the northeast corner of the Sudbury Basin, approximately 45 km north-northeast of the City of Greater Sudbury, Ontario (Figure 1).

The Parkin Project is being explored for high-grade polymetallic nickel, copper, and PGEs within the 9.5-km strike length of the Parkin Offset Dyke. The properties include the past-producing Milnet mine, the high-grade Milnet 1500 Zone, the historic near-surface Parkin resource (as defined below), the Malbeuf Zone, and a number of high-grade surface occurrences, which demonstrate that the Parkin Offset Dyke is well mineralized and has the potential for significant grades of PGEs along with copper, nickel, and gold.

Offset dykes are a primary ore hosting environment in the Sudbury Basin, accounting for approximately one quarter of Sudbury’s total mineral inventory and as such are compelling exploration targets. Ni-Cu-PGM sulphide mineralization found on the Parkin properties is typical of that hosted by quartz diorite offset dykes in other parts of the Sudbury mining camp. Examples include the prolific deposits at Vale’s North and South Mines hosted by the Copper Cliff Offset dyke; Vale’s new Totten mine in the Worthington Offset Dyke and KGHM International Ltd.’s discovery on its Victoria project, also hosted in the Worthington Offset dyke.

Archer currently has the option to earn a 100% interest in the Milnet and Parkin East properties, a 98.5% interest in the Parkin property, and up to a 75% interest in the Parkin CBA property.

Parkin Historic Resource¹

Historic drilling on the Parkin property had delineated five mineralized zones along a 750 m strike length of the Parkin Offset Dyke. In 2002 a resource estimate was prepared, which included an Indicated Resource of 264,000 tonnes grading 0.70% Cu, 0.65% Ni, 0.62 g/t Pt, 0.80 g/t Pd and 0.23 g/t Au, and an Inferred Resource of approximately 87,000 tonnes grading 0.7% Cu, 0.4% Ni, 1.2 g/t Pt, 1.1 g/t Pd and 0.6 g/t Au (the “Historical Resource Estimate“). Mineralization occurred from surface down to a depth of 200 m.

The Historical Resource Estimate was prepared in compliance with NI 43-101 at the time and uses categories consistent with current requirements, however, due to the significant amount of additional exploration work (surface stripping and drilling), the Historical Resource Estimate is no longer current and should be considered historic.

The Historical Resource Estimate was generated using available drill data and Gemcom software. The five mineralized zones were modelled using a minimum true width of 2.0 m and an NSR cut-off grade of C$40/tonne. The NSR cut-off was calculated using US$0.80/lb copper, US$3.00/lb nickel, US$10/lb cobalt, US$450/oz platinum, US$400/oz palladium, US$270/oz gold, a $450/t smelter charge deduction and a concentration ratio of 30/(Cu%+Ni%). Grades were defined for each of the mineralized zones (block models) using a 35 m search and an Inverse Distance Squared method with a sample minimum and maximum of 1 and 15, respectively. These searches were confined to the modelled solids.

The Historical Resource Estimate is considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat it, or any part of it, as current mineral resources or reserves. The Company has determined the Historical Resource Estimate is reliable given that it is based on data collected with modern drilling and sampling methods and relevant to be included here in that it simply demonstrates the mineral potential of the Parkin property. A qualified person has not done sufficient work to classify the Historical Resource Estimate as a current resource and the Company is not treating the Historical Resource Estimate as a current resource. Significant data compilation, re-drilling, re-sampling, data verification and a site visit may be required by a qualified person before the Historical Resource Estimate can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

The Historic Milnet Mine^1,2

Between 1952 and 1954 the Milnet Mine reported production of 157,130 tons averaging 2.25 g/t Pt, 2.98 g/t Pd, 0.33 g/t Au, 1.49% Ni and 1.54% Cu. Drilling beneath the Milnet Mine in 2009 resulted in the discovery of the high-grade Milnet 1500 Zone, intersecting 14.24 m containing 1.50 g/t Pt, 2.52 g/t Pd, 3.99 g/t Au, 0.78% Ni and 2.57% Cu from 1499 to 1513 m. More recent drilling in 2011 intersected an 8.0 m interval containing 1.40 g/t Pt, 2.68 g/t Pd, 0.23 g/t Au, 4.11 % Ni and 0.60 % Cu from 1473 to 1481 m.

Modelling of mineralized intersections and borehole electromagnetic geophysics indicates that the size of the Milnet 1500 Zone is a minimum of 400 m by 35 m to 60 m with an undetermined thickness. The zone is open, and its full extent is not known. Most of the dyke in the area has not been tested by drilling.

Footnotes Regarding Technical References
1. Source: “2016 Technical Summary Report on the North Range Joint Venture Parkin Properties (including the Milnet, Parkin, CBA Parking and Parkin East Properties), Sudbury, Ontario” prepared by Peter C. Wood, P. Geo for Wallbridge Mining Company Limited with an effective date of February 29, 2016.
2. To convert tons to tonnes, you can use the conversion factor of 1 tonne = 1.102 tons.
Qualified Person

The scientific and technical content of this press release has been reviewed and approved by Mr. Jacquelin Gauthier, P.Geo, Vice President, Exploration, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. This news release refers to neighboring properties in which the Company has no interest. Mineralization on those neighboring properties does not necessarily indicate mineralization on the Company’s properties.

About Archer

Archer Exploration is a Canadian Ni-Cu-Co-PGE focused exploration and development company with an extensive portfolio of assets in Quebec and Ontario, Canada. The Company’s flagship asset is the Grasset Project, located within the Abitibi Greenstone Belt, with an Indicated Resource of 5.5 Mt @ 1.53% NiEq. In addition, the Company holds a portfolio of 37 properties and over 300 km² in the world-class mining district of Sudbury, Ontario.

The Company’s growth strategy is focused on the exploration and development of its nickel sulphide properties within its portfolio. Archer’s vision is to be a responsible nickel sulphide developer in stable pro-mining jurisdictions. Archer is committed to socially responsible exploration and development, working safely, ethically, and with integrity. For more information, please visit www.archerexploration.com.

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that Archer expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct Archer’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by Archer in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: risks associated with the conduct of the Company’s mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the ongoing military conflict in Ukraine; general economic factors (including inflationary pressure); the price of commodities; and the factors identified under the caption “Risk Factors” in the Company’s public disclosure documents.

The forward-looking information contained in this news release represents the expectations of Archer as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Archer does not undertake any obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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June 29, 2023
Solis Minerals: Update on Lind Option Funding Agreement

2023-06-27 06:03:03

Vancouver, British Columbia–(Newsfile Corp. – June 27, 2023) – Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTC PINK: SLMFF) (FSE: 08W), (“Solis” or “the Company”) wishes to provide an update to its announcement of 8 June 2023, where Solis advised that it had entered into a non-binding term sheet with Lind Partners for financing of A$2.0 million, which was to be repaid from funds received on exercise of the Company’s A$0.30 unquoted options currently on issue (Relevant Options) and was to provide funding in addition to the funds to be raised under the Company’s $8,000,000 placement (Placement).

Given the large number of Relevant Options that have already been exercised and the strong support for the Placement, the Company no longer requires the capital from the proposed option funding agreement, and Lind Partners have mutually agreed not to enter into a formal agreement.

The Company closed tranche 1 of the Placement on 19 June 2023 and is in the process of seeking shareholder approval for the issue of tranche 2 of its Placement.

About Solis Minerals Ltd.

Solis Minerals is a Latin American battery mineral-focused mining exploration company. The Company owns a 100% interest in the Borborema Lithium Project in NE Brazil, covering 24,800ha. It has recently executed an option to acquire 100% of the Jaguar Lithium project in Bahia state, Brazil. In addition, Solis also holds a 100% interest in 32,000ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern Peru within the country’s prolific coastal Copper belt – a source of nearly half of Peru’s copper production.

This Announcement has been authorised for release to the TSX-V and ASX by the Board of Solis Minerals.

For further information, please contact:

Australia
Matt Boyes
Chief Executive Officer
Solis Minerals Limited
+61 8 6117 4798

Stephen Moloney
Investor Relations
Corporate Storytime
+61 (0) 403 222 052

North America
Jason Cubitt
Non-Executive Director
Solis Minerals Limited
+01 (604) 209 1658

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release either the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements that relate to future events or performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

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June 27, 2023
Aurwest Resources Announces Annual Stock Option Grant, Shares for Services Transaction and Management Change of Subsidary

2023-06-27 05:05:45

CALGARY, AB / ACCESSWIRE / June 27, 2023 / Aurwest Resources Corporation (“Aurwest” or the “Company“) (CSE:AWR) announces the following corporate updates.

Annual Stock Option Grant

The Board of Directors of the Company have approved the grant of an aggregate of 4,825,000 stock options (“Options“) pursuant to the Company’s stock option plan (“Stock Option Plan“) to certain directors, officers, employees, advisors and consultants of the Company, subject to approval by the Canadian Securities Exchange. The Options entitle the holder thereof to acquire the same number of common shares of the Company and will be exercisable at a price of $0.02 per common share for a period of two (2) years from the date of grant, with all options vesting upon immediately upon grant. The Options were granted under and are subject to the terms and conditions of the Company’s Stock Option Plan and the underlying securities are subject to a statutory four-month hold period in accordance with applicable securities laws.

Shares for Services Transaction

The Company has also issued an aggregate of 1,383,333 common shares at a price of $0.02 per common share (the “Shares“) to the former chief financial officer, current chief financial officer and current interim chief executive officer of the Company. The Shares have been issued in lieu of cash payments for services rendered pursuant to consulting agreements whereby these individuals provided various management services to the Company in the first half of 2023. The foregoing consulting services will be disclosed in the Corporation’s applicable financial statements. The completion of this share issuance is subject to the approval of the Canadian Securities Exchange. Upon issuance, the Shares will be subject to a statutory four-month hold period in accordance with applicable securities laws.

Resignation of Mr. Grundstrom as President and CEO and a Director of Copper Star Exploration Ltd.

The Company has accepted the voluntary resignation of Mr. Cam Grundstrom as President and Chief Executive Officer and as a Director of Copper Star Exploration Ltd., a wholly owned subsidiary of the Company, effective May 24, 2023. Copper Star Exploration Ltd. holds a 100% interest in the 28,814 hectare Stellar/Stars porphyry copper project located approximately 25 kilometers southwest of Houston, British Columbia.

For additional information please contact:
Cameron MacDonald
Chairman of the Board
Telephone: (403) 585-9875
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.aurwestresources.com

About Aurwest Resources Corporation

Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has three Option Agreements to earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 57,600-hectare (576 sq kms) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 28,814 hectare Stellar/Stars porphyry copper project, through its wholly owned subsidiary Copper Star Exploration Ltd., located approximately 25 kilometers southwest of Houston, British Columbia.

Forward-Looking Information

Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements.” Forward looking statements may be identified by words including “anticipates,” “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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June 27, 2023
Foremost Lithium Announces Second Option Payment on Peg North

2023-06-23 15:29:12

Vancouver, British Columbia–(Newsfile Corp. – June 23, 2023) – Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) (“Foremost Lithium“, “Foremost“ or the “Company“) Further to its news releases of June 29, 2022 and June 20, 2023, in respect of the Company’s option (“the Option”) to acquire a 100% interest in acquire the Peg North Claims located in the historic Snow Lake mining district in Manitoba, the Company confirms that it will proceed with making its second installment Option Payment on or before June 28, 2023. In accordance with the terms of the Option agreement, the second installment payment will consist of a cash payment of $100,000 and issuing an aggregate of 653,595 common shares (the “Shares”) at a deemed price of $.153 per share. The Shares will be subject to a hold period of four months and one day from the date of issuance.

On Behalf of the Board of Directors
Jason Barnard, President and CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +1 (604) 330-8067

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

About Foremost Lithium

Foremost Lithium is a hard-rock exploration company with over 43,000 acres located in Snow Lake, Manitoba, and hosts a property in a known active lithium camp in Quebec called Lac Simard South situated on over 11,400 acres.

Its 5 Lithium Lane Projects, Zoro, Jean Lake, Grass River, Peg North and Jol, as well as Lac Simard South are strategically located to capitalize on the world’s growing EV appetite and is perfectly positioned to become a premier supplier of North America’s lithium feedstock. As the world transitions towards decarbonization, the Company’s objective is the extraction of lithium oxide (Li₂O), and to subsequently play a role in the production of high-quality lithium hydroxide (LiOH), to help power lithium-based batteries, critical in developing a clean-energy economy. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA. Learn More at www.foremostlithium.com.

Forward-Looking Statements

This news release contains “forward-looking statements” and “forward-looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company’s properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts”, “anticipates” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective”, and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the receipt of all necessary regulatory and third party approvals for the proposed operations of the Company’s business and exploration activities, risks related to the Company’s exploration properties; risks related to international operations; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of commodities including lithium and gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in reserves; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in jurisdictions in which the Company operates. . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events, or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.

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June 23, 2023
Golden Spike Resources Completes Gregory River Property Option Agreement

2023-06-23 05:02:08

VANCOUVER, BC / ACCESSWIRE / June 23, 2023 / Golden Spike Resources Corp. (CSE:GLDS) (“Golden Spike” or the “Company“) is pleased to announce that it has completed the exercise of its option and now owns a 100% interest in the Gregory River property (the “Property”) located in Newfoundland, Canada.

Further to its news releases issued on September 20, 2022 and July 21, 2022, as a result of its acquisition (the “Acquisition“) of Golden Horizon Exploration Corp. (“Golden Horizon“), it has assumed Golden Horizon’s interest in a mineral property option agreement dated October 14, 2021, as amended (the “Option Agreement“) between Golden Horizon as optionee (the “Optionee“) and certain optionors of the Property (collectively, the “Optionors“). Pursuant to the Option Agreement, the Optionors have granted the Optionee the option to acquire a 100% interest (the “Option“) in the mineral property claims known as the Gregory River Property located in Newfoundland & Labrador (the “Property“), subject to a 2% net smelter royalty.

Pursuant to the Option Agreement, the Company has paid the final cash payment of $45,000 and issued 1,500,000 common shares at a deemed price of $0.20 per share, (the “Subsequent Consideration Shares”) to the Optionors and has fully exercised its Option to acquire a 100% interest in and to the Property.

The Subsequent Consideration Shares will be, subject to a 4-month statutory resale restriction in accordance with applicable securities laws.

The Property is subject to a 2% net smelter returns royalty interest (the “NSR“) of the Optionors calculated in accordance with the Option Agreement. At any time following the completion of the Option exercise, the Company will have the right to purchase one-half of the NSR from the Optionors for $1,500,000, leaving the Optionors with a 1% NSR. A copy of the Option Agreement is available on www.sedar.com under the Company’s profile.

“We are very pleased to have completed the Option exercise and acquire a 100% interest in its Gregory River Property located in a very prospective mineral belt in Newfoundland” stated Golden Spike CEO Keith Anderson.

Gregory River Property

The Property is comprised of 137 claims under 17 mineral licences, covering 3,425 hectares or approximately 8,463 acres and is located on the western portion of the island of Newfoundland, approximately 14 Kilometres (“km“) south of the community of Trout River and 40 km northwest of Corner Brook.

The Property is centered over an approximately 11-kilometer-long stretch of the Gregory River volcanogenic massive sulphide (“VMS”) belt, a north-northeast trending corridor of very prospective ground for precious and base metal mineralization. In addition, the Property hosts a cluster of high-grade copper-gold vein structures that occur just east of the VMS-belt.

Intermittent exploration has taken place over the Property since the 1920’s and has resulted in the discovery of numerous high-grade copper and gold prospects and occurrences. The Property has not seen any significant activity since 2008 and still remains largely underexplored.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Robert Cinits, P.Geo, a director of the Company and a “Qualified Person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Golden Spike

Golden Spike Resources Corp. (CSE:GLDS) (OTCQB:GSPRF) (Frankfurt: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds the rights to acquire 100% interest in the 3,425-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometer-long stretch of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the Property hosts a cluster of historically explored, high-grade, copper ±gold vein structures.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Anderson
Golden Spike Resources Corp.
830 – 1100 Melville St.,
Vancouver, BC, V6E 4A6
+1 (604) 786-7774
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.goldenspikeresources.com

“Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.”

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” occur.

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the volatility of global capital markets, political instability, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the lack of availability of capital and financing, general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, failure of counterparties to perform their contractual obligations, and those risks, uncertainties and factors set forth in the Company’s disclosure record under the Company’s profile on SEDAR at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information contained herein. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable securities laws.

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June 23, 2023
Pegasus Resources Enters Into Option Agreement with Compton Minerals
2023-06-16 12:06:51
Vancouver, British Columbia – TheNewswire – June 16, 2023 – Pegasus Resources Inc. (TSXV:PEGA); (Frankfurt:OQS2), (OTC:SLTFF) (the “Company” or “Pegasus”) is pleased to announce that the Company has entered into a property option agreement (the “Agreement”), dated June 14, 2023, between Compton Mineral Corp. (the “Optionee”), an arms-length party, and the Company, pursuant to which Pegasus has granted the option (the “Option”) to the Optionee to acquire a 100% interest in the Garnet Lake / Arrow Zone claims (the “Property”), which consists of 131 claims (2,620 ha).

The Agreement is subject to the consent of Glencore Canada Corporation and is subject to the rights of Glencore Canada Corporation in respect of the Property, including a 2% net smelter returns royalty in favour of Glencore Canada Corporation.

Terms of the agreement between Pegasus and the Optionee are as follows:
1. $25,000 CAD cash payment within 45 days of execution of the Option Agreement;
2. issuance of 500,000 common shares of the Optionee on TSX Venture, CBOE, or CSE acceptance of the Option Agreement;
3. $50,000 CAD cash payment and issuance of 1,000,000 common shares of the Optionee on the 1st anniversary of trading;
4. $50,000 CAD cash payment and issuance of 1,000,000 common shares of the Optionee on the 2nd anniversary of trading.
5. make such payments as necessary to keep the Property in good standing.
No finders fees were associated with this transaction.

Garnet Lake/Arrow Zone has a NI43-101 Inferred Mineral Resource of 2,100,000 tonnes grading 0.72% copper, 5.78% zinc, 19.5 grams/tonne (g/t) silver and 0.60 g/t gold.

Technical material in this news release has been prepared and/or reviewed and approved by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.

About Pegasus Resources Inc.

Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Christian Timmins at This email address is being protected from spambots. You need JavaScript enabled to view it.

On Behalf of the Board of Directors:

Christian Timmins
President / CEO
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6

PH: 1-604-369-8973
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Statements included in this announcement, including statements concerning the Company’s plans, intentions and expectations (including the proposed Consolidation), which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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June 16, 2023
Altiplano Metals Signs Option Agreement to Acquire Santa Beatriz Cu-Au Mine
2023-06-14 06:03:02
Edmonton, Alberta–(Newsfile Corp. – June 14, 2023) – Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to report it has entered into an agreement for the acquisition of the Santa Beatriz Mine, located two kilometers (km) from the Company’s existing operation at the Farellon Copper Gold Mine site near La Serena, Chile. Copper, gold, and iron mineralized material at the Santa Beatriz Mine is similar to what is currently extracted at Farellon and is expected to be suitable material for processing at the Company’s mill and processing facility, El Peñón, located ~15 km from the mine.

Highlights
- Low-cost potential acquisition of past producer covering an area of 54 ha.
- Previous workings include two decline advances totaling 250 m and 180 m in length.
- The Santa Beatriz Mine is permitted by the Chilean Mining Authority, SERNAGEOMIN (Servicio Nacional de Geologia y Mineria) for ~ 2,000 tonnes per month (tpm) of production and can be expanded.
- Mineralized material at Santa Beatriz is of the same iron-oxide-copper-gold (IOCG) deposit type and style as that at Farellon.
- Copper, gold, and iron extracted from the Santa Beatriz Mine can be ideally suited for processing at the Company’s El Peñón processing facility, entering startup phase in July.
- Material produced from the Santa Beatriz Mine has the potential to improve efficiencies and increase overall production at the Mill, maximizing the Company’s monthly revenue opportunities.
President and CEO, Alastair McIntyre, commented: “We are very excited for the opportunity to begin work on the Santa Beatriz Mine. This project fits Altiplano’s vision for consolidating projects located in proximity to our existing operations, with low start-up costs hosting excellent material for optimal production and processing. Acquiring an additional mine with ideal production material for Altiplano’s mill and processing facility creates added flexibility and sustainability while providing the potential to add significant value for its shareholders.”

Figure 1 – Location of Farellon Copper Gold Mine, processing facility, and Santa Beatriz Mine.

Figure 2 – Photo of Historical Workings

Santa Beatriz Agreement

In exchange for US$5,000, Altiplano retains a 3-month exclusivity period to complete due diligence on the Santa Beatriz Mine. At the end of this period, Altiplano can rent the mine for US$4,350/month and provide the owner with a 15% share in net profits after expenses. During the first 12 months of the option, APN can purchase the mine with no underlying royalty for a one-time cash payment of US$440,000 or extend the option.

The due diligence phase will include a comprehensive analysis of the veins to determine grade, width and consistency at depth, regional influence, and mining potential. Geologists will map and sample the vein sets underground and on surface, and compile and review existing datasets to aid in the determination of production and future exploration programs. A confirmation drill program will be designed as part of the exploration work to test the continuity of the vein structure and mineralogy along strike and at lower depths.

About Altiplano

Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company has a diversified portfolio of assets that include an operating copper/gold/iron mine, development of near-term producing gold/copper projects, and exploration land packages with district-scale potential. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the Toronto Venture Exchange trading under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.

Altiplano has generated over US$12.1 million from the recovery and sale (after processing costs) of more than 5.2 million pounds of copper with an average grade of 1.80% Cu (2018 Q1-2023 Q1). Cash flow has been re-invested into equipment, underground drilling, expanding underground development at Farellon, enhancing ventilation to increase productivity and capacity, new underground development and exploration, and the commissioning of the El Peñón fit-for-purpose mill and flotation plant located 15 km from the Farellon site.

John Williamson, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101, has reviewed, and approved the technical contents of this document.

Altiplano is part of the Metals Group of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.

ON BEHALF OF THE BOARD

/s/ “John Williamson”
Chairman

For further information, please contact:
Alastair McIntyre, CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (416) 434 3799

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating any historical estimates as current mineral resources or mineral reserves. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
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June 14, 2023
Mink Ventures Enters into Option to Acquire Copper Nickel Project, Timmins, Ontario
2023-06-13 06:42:36
Toronto, Ontario–(Newsfile Corp. – June 13, 2023) – Mink Ventures Corporation (TSXV: MINK) (“MINK” or the “Company“) announces that it has entered into an agreement to acquire a 100% interest, subject to a 1.5% NSR, in the Warren copper nickel project (the “Warren Project“) from US Copper Corp. (TSXV: USCU). The Warren Project consists of 14 patented mining claims covering 251 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see Figure 1).

MINK expects that the option will commence at closing, on or around July 4, 2023. To commence the option, MINK must issue to US Copper Corp. 250,000 MINK common shares and 250,000 MINK three-year common share purchase warrants exercisable at a price of $0.25 on closing, and then to maintain and ultimately exercise the option MINK must incur $300,000 in exploration expenditures and issue an additional 800,000 MINK common shares within 21 months from the closing date. The option agreement is subject to a number of terms and conditions typical for a transaction of this nature, including prior TSX Venture Exchange approval.

HIGHLIGHTS (see Figure 3):
- The Warren Project is drill ready. Mink’s geologists have completed an in-depth study of all available historical data and recent geophysical survey data. Some limited ground truthing to update GIS data prior to selecting drill targets will occur with a diamond drill program to follow.
- The Warren Project complements Mink’s key Montcalm project due to the distinctly similar, prospective geological environments as well as the presence of significant Cu Ni zones at Warren.
- Three distinct mineralized copper nickel zones have been identified and are designated Zones A, B, and C, outlined by both surface exploration and diamond drilling, focused mainly on Zones A and B over a strike length of ~600 meters.
- Historical work in the mid 1950’s included two B-Zone bulk samples by Maralgo Mines Ltd. Bulk Sample 1 returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and Bulk Sample 2 returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
- A resource* calculation of 385,000 tons of 1% Cu + Ni on the B Zone was outlined by Jade Oil & Gas. They drilled 23 holes to test Zones A and B in the mid 1950’s. Highlights include 2.5% Cu+Ni over 7.6 m and 2.8% Cu+Ni over 8.2 meters. *The resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied upon and is reported as a historical statement only.
- Geophysical data from magnetics, horizontal loop EM (HLEM) and induced polarization (IP) suggest a potential strike length of A and B Zones of approximately 800 meters.
- Limited exploration has been conducted on the C Zone other than a historical shaft. A recent (2021) grab sample in the shaft area muck pile by W. Hawkins, P. Eng returned 3.7 ppm Ag, 3940 ppm Cu, 1670 ppm Ni and 223 ppm Co. Geophysical surveys (magnetic, HLEM, and IP) support a potential strike length of C Zone of 1 kilometer.
References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)

–

“This strategic acquisition expands our exploration portfolio and discovery opportunity with a very complementary, second gabbro-hosted copper nickel sulphide project which shares a similar geological environment with our flagship Montcalm project. Both projects benefit from cost-effective exploration due to their exceptional access, year-round exploration seasons, and proximity to the Timmins Mining Camp and all the advantages that come along with that,” said Natasha Dixon, President and CEO. “Mink is a battery metals exploration company. There is no energy transition without these critical minerals. Exploration companies play a vital role in discovering the mineral deposits needed to establish a resilient Canadian source of these metals and MINK is well positioned to play a role with these very prospective assets,” she added.

The Warren property is hosted within the Kamiskotia Gabbro Complex (KGC) and it is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010) (See Figure 2).

Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren Project complements Mink’s Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Project.

As highlighted above, the Warren Project has had a sporadic exploration history since the late 1920’s to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990’s and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. These targets are particularly evident in the accompanying magnetic and IP compilation map shown in Figure 3. As a result of this geophysical data being available, the Warren Project is drill ready with some minimal ground truthing of grids and occurrences.

Qualified Person:

Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release. Note: Certain historical information pertaining to a historical resource estimate, is disclosed in this press release. The methods and parameters used to prepare this estimate and the category of the estimate is unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves.

About Mink Ventures Corporation:

Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for battery metals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which covers approximately 40 km² adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the recent addition of the Warren Project, comprised of 14 patented mining claims covering 251 hectares. These complementary Ni Cu projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 14,972,319 shares outstanding.

For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: This email address is being protected from spambots. You need JavaScript enabled to view it. or Kevin Filo, Director, T: 705-266-6818 or visit www.sedar.com.

Forward Looking Statements

This press release includes certain “forward-looking information”, including, but not limited to, statements with respect to the option to acquire the Warren Project, the share and warrant issuances and exploration work required to exercise the option, TSX Venture Exchange approval of the option agreement, and the prospectivity of the Warren Project and the Montcalm Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MINK to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to MINK’s filings with Canadian securities regulators available on SEDAR. These forward-looking statements are made as of the date hereof and MINK disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.

Figure 1: Detailed Location Map

Figure 2: Regional Geology Map

Figure 3: Warren Project Compilation Map (Magnetics and IP)
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June 13, 2023
Altan Rio Expands Southern Cross Footprint with Hakes Find Option Agreement
2023-06-12 09:59:46
Highlights:
- Altan Rio enters option agreement to acquire Hakes Find project, 10km from Southern Cross township in the central portion of the Southern Cross Greenstone Belt.
- An advanced gold prospect in the northwest has seen:
  
  Small historical mining operations.
  
  Significant previous exploration with multiple high-grade drill intersections that have previously been reported as non-JORC compliant mineral resource.
- Positive preliminary grab sampling at the advanced Hakes Find prospect including a 10 g/t result.
- Hakes Find within 30km of third-party processing facility.
- Upon execution of the agreement to acquire the project, Altan Rio will pay the vendor $A100,000 cash and $A175,000 in shares, plus a 1.5% royalty on the first 23,000 ounces of gold produced.
Perth, Australia–(Newsfile Corp. – June 12, 2023) – Altan Rio Minerals Limited, (TSXV: AMO) (“Altan Rio” or the “Company”) is pleased to announce the Company has entered into an option agreement to acquire the Hakes Find gold project, located 10km from the Southern Cross township within the Yilgarn Mineral Field, Western Australia.

The Hakes Find tenement area (P77/4607) covers ~1.7km² and lies within the central portion of the Southern Cross Greenstone Belt, a prolific gold producing region responsible for well in excess of 12 million ounces. The tenement area can be directly accessed by the well-graded Southern Cross Marvel Loch Road.

Commenting on the agreement, Altan Rio Chairman and Interim CEO, Graeme Sloan said:

“The option agreement for Hakes Find is an exciting acquisition for Altan Rio and could be a potential near-term producing asset. Drilling by previous explorers has intersected high grade gold mineralisation beneath historical mining operations at Hakes Find prospect and will be the target of follow up work.

Results from a preliminary grab sampling program recently undertaken by the Company have been very promising and validates the potential of this project.

Our next step is to undertake further desktop studies with the aim to define the mineralised envelope along strike and at depth and I look forward to updating the market as we progress this work.”

Figure 1: Location of Hakes Find Project

Historical exploration¹

Numerous old workings and prospecting pits are scattered throughout the tenement area, accruing since gold was first discovered within the Southern Cross district in the 1880’s.

A small historical mining operation – Hakes Find – lies within the tenement area and was subject to underground workings down to the water table at ~30 metres depth. Subsequently a small open cut excavation was completed over the old underground mine.

Since the 1960’s, several drill programs have been conducted across the tenement area by previous owners. The most recent drilling campaigns were conducted in the 1990’s by then-owner Finders Gold NL mainly at Hakes Find, which they called their Devlin’s Reward prospect.

Based on results from their drilling programs, Finders Gold NL estimated a non-JORC compliant mineral resource for Hakes Find in 1995.

According to Finders Gold NL, a more coherent central zone was interpreted to hold better potential for eventual economic exploitation with preliminary scoping work suggesting a lower waste to ore stripping ratio compared to the entire gold deposit.

Results of metallurgical test work undertaken by Finders Gold NL on drill samples from the Hakes Find deposit indicated sulphide mineralisation may be amenable to processing through a conventional CIP/CIL treatment plant.

Recent work

Altan Rio has recently undertaken preliminary grab sampling from the face of the pit wall and along strike at Hakes Find (see Figure 2) which has returned significant assay results including:
- SX029 2.2 g/t
- SX030 1.8 g/t
- SX032 10.0 g/t
- SX033 4.0 g/t
Figure 2: Location of grab samples from face of pit wall at Hakes Find

Transaction

Altan Rio has entered an exclusive six-month option to buy agreement with the vendor for $A25,000 and a six-month extension to the agreement for additional $A25,000.

Upon execution of the agreement to acquire the project, the Company will pay vendor $A100,000 cash and $A175,000 in Altan Rio shares plus a 1.5% royalty on the first 23,000 ounces of gold produced from the tenement.

On behalf of Altan Rio Minerals Limited

For more information contact:

Graeme Sloan
Director / Interim CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
+61 9322 1788

Josh Conner
Chief Operating Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
+61 9322 1788

Media

David Tasker
Chapter One Advisors
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
+61 433 112 936

Cautionary Statement on Forward-Looking Information

This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Altan Rio to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Actual results may differ materially from those currently anticipated in such statements, and Altan Rio undertakes no obligation to update such statements, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

Mr. Neal Leggo, a member of the Australian Institute of Geoscientists (MAIG) and an independent Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of the technical content regarding the Southern Cross North Project contained in this document. Mr. Leggo is a Principal Geological Consultant with Indeport Pty Ltd. Mr Leggo has reviewed and approved the technical disclosure in this news release.

QA/QC procedures for the reported grab sampling include Certified Reference Materials and/or Intertek Genalysis in-house controls, blanks and replicates are analysed with each batch of samples at Intertek Genalysis 544 Bickley Road, Maddington WA 6109.

¹ Finders Gold NL, 1998. Hakes Find Project, Annual Report for the Period from 1 November 1992 to 31 December 1997
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June 12, 2023

Velocity Minerals Enters into Option Agreement with Dundee Precious Metals; 10,000m Exploration Drilling Initiated

2023-06-12 05:53:43

10,000m Exploration Drilling Initiated

Vancouver, British Columbia–(Newsfile Corp. – June 12, 2023) – Velocity Minerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) (“Velocity” or the “Company“) announces that it has entered into a binding letter agreement (the “Letter Agreement“) with Dundee Precious Metals Inc. (“DPM“), whereby Velocity has granted to DPM an exclusive option to acquire a 75% interest (the “Option“) in and to the Iglika copper-gold prospecting license (the “Property“), located in Bulgaria (the “Property“).

Commercial Terms

To exercise the Option in full, DPM must: (i) make a US$250,000 initial cash payment to Velocity; (ii) fund a total of 40,000 meters of drilling on the Property; (iii) fund and deliver a mineral resource estimate on a deposit located within the Property prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“); (iv) fund and deliver a prefeasibility study on a deposit located within the Property prepared in accordance with NI 43-101; and (v) make a further US$1,500,000 cash payment to Velocity (collectively, the “Earn-In Requirements“), all over a period of five (5) years (Table 1).

The US$250,000 cash payment due to Velocity within five (5) business days of the execution of the Letter Agreement by DPM and the 10,000 meters of drilling to be funded and completed prior to the first anniversary of the Effective Date, are binding commitments of DPM. DPM will be under no obligation to fulfill any of the remaining Earn-In Requirements and may accelerate the satisfaction of the Earn-In Requirements without penalty, at its election.

If DPM completes the Earn-In Requirements during the Option term, it shall acquire an indirect 75% legal interest in the Property, subject to an existing 2% net smelter returns royalty, and DPM and Velocity shall be deemed to have formed a joint venture (“JV“) for the continued exploration and development of the Property. If a participant’s participating interest in the JV falls below 10%, that participant shall be required to transfer its participating interest to the other participant in exchange for the grant of an ongoing royalty to be paid at 2% of net smelter returns (the “NSR Royalty“), half of which (being 1%) can be bought-out prior to a production decision for US$5,000,000.

Pursuant to the terms of the Letter Agreement, Velocity and DPM will negotiate in good faith toward the execution and delivery of a definitive property option agreement (the “Definitive Agreement“). The Definitive Agreement will incorporate the terms and conditions of the Letter Agreement and such other terms and conditions as may be agreed to by the parties.

Table 1. Earn In Requirements.

Date	Cash Payments (US$)	Drilling (meters)	Mineral Resource / Reserve Deliverable
Within five (5) business days of the execution of the Letter Agreement (“Effective Date“)	$250,000	—	—
Before the first anniversary of the Effective Date	—	10,000	—
Before the second anniversary of the Effective Date	—	15,000	—
Before the third anniversary of the Effective Date	—	15,000	—
Before the fourth anniversary of the Effective Date	—	—	mineral resource estimate
Before the fifth anniversary of the Effective Date	$1,500,000	—	prefeasibility study
Total:	$1,750,000	40,000

Drilling

DPM’s drill program at the Property has started. The planned drill program will consist of 24 drill holes for 10,000m, to test copper-gold porphyry, skarn and epithermal targets defined by geochemical and geophysical anomalies. DPM is also planning to complete detailed mapping, soil sampling and geophysical surveys to further refine drill targets.

Qualified Person

About Velocity Minerals Ltd.

Velocity is a precious metals and copper explorer focused in Eastern Europe. In Bulgaria, Velocity has a 70% interest in the Tintyava property, which includes the prefeasibility-stage Rozino deposit. Velocity also has a 70% interest in the Momchil property (which includes the Obichnik project), a 70% interest in the Nadezhda property (which includes the Makedontsi project), and a 70% interest in the Dangovo property (which is contiguous with the Makedontsi project). The Company holds a 100% interest in the Iglika copper-gold exploration property and recently entered into an option agreement with DPM who have an option to earn a 75% interest in the property. The Company has also entered into an agreement to acquire a 75% interest in the Zlatusha copper-gold exploration property.

On Behalf of the Board of Directors

“Keith Henderson”
President & CEO

For further information, please contact:

Keith Henderson
Phone: +1-604-484-1233
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web: www.velocityminerals.com

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the Option by DPM, the entering into of the Definitive Agreement, the formation of the JV, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “will”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Property in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Property, and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Property, estimation or realization of mineral reserves and mineral resources, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading “Risk Factors” in the Company’s latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

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June 12, 2023

Brigadier Announces Amendment of Nemaska2 Extension Option Agreement

2023-06-09 14:28:20

VANCOUVER, BC / ACCESSWIRE / June 9, 2023 / Brigadier Gold Limited (the “Company“) (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) announces that it has amended its previously announced option agreement (March 22, 2023; June 1, 2023) with respect to the Nemaska2 Extension (the “Nemaska2 ExtensionOption Agreement“).

Pursuant to the amendments, the Company has agreed to make all payments in cash, whereas under the previous terms of the Nemaksa2 Extension Option Agreement, the Company had the option to make certain payments in common shares. In addition, half of the $40,000 payment required to be made within 90 days of the effective date of the Nemaksa2 Extension Option Agreement (the “Effective Date“) has been extended to, within 180 days of the Effective Date. All other terms of the Nemaksa2 Extension Option Agreement remain in effect, unamended.

For further information, please contact:
Brigadier Gold Limited
www.brigadiergold.ca
Robert Birmingham, Chief Executive Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
(604) 424‐8131

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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June 9, 2023
Marvel Discovery / Falcon Gold Option Baie Verte Projects to Carmanah Minerals
2023-06-08 08:37:39
VANCOUVER, BC / ACCESSWIRE / June 8, 2023 / Marvel Discovery (MARV:TSX.V)(O4T:GR)(MARVF:OTCQB); and Falcon Gold Corp. (FG:TSX.V)(3FA:GR)(FGLDF:OTCQB) together (the Alliance), jointly hold 1402 claims (the “Property”) totaling 35,050 hectares located along the Baie Verte Brompton Line (“BVBL”) in Central Newfoundland. Marvel and Falcon have agreed to option their interests in the Property to Carmanah Minerals Corp. (“Carmanah”). Carmanah recently announced the acquisition of the Hare Hill Pluton Rare Earth Project covering 162 claims totaling 4,050 hectares in Western Newfoundland. The property is directly contiguous to the recent “Bottom Brook Acquisition” by York Harbour Metals Inc. announced December 21, 2022.

The Hare Hill granitic system is prospective for Rare-earth mineralization, as recently reported by York Harbour Metals whose grab rock samples returned total rare earth oxide grades (TREO) grades between 3.45% and 21.63% TREO. Previously, Kirrin Resources Inc. reported drilling results that included 4.47% TREO over 5.64m core lengths and 1.16% TREO over 15.3m core lengths on the Bottom Brook project in February 2011.

Carmanah will make cash payments totaling $155,000 over a 4-year period and issue 5 million common shares, and 5 million share purchase warrants exercisable at 10 cents per share for a period of 3 years from the date of issue. (3,000,000 shares issued to Marvel and $93,000), (2,000,000 shares issued to Falcon and $62,000) 60/40split in favor of Marvel. Marvel and Falcon’s properties will be subject to a 2.5% NSR (Net Smelter Royalty) Carmanah can purchase 1% for $1,000,000 cash payment.

This transaction is beneficial for Marvel and Falcon, having a large equity stake in Carmanah positions both companies very well as exploration at the BVBL moves forward, while the option agreement assists Carmanah to develop a significant portfolio of prospective properties. The BVBL acquisition will allow Carmanah to become a dominant new player with ground next to York Harbour’s Bottom Brook Property which has recently announced an aggressive exploration program.

Karim Rayani, Chief Executive Officer, commented, “We are very pleased to have been able to work an option deal with Carmanah Minerals, Carmanah presents a great opportunity for all companies while allowing us to share in the success of potentially a new district scale discovery. Marvel currently has approximately 90,000 hectares of prospective ground – tied to major structures in Gander, Hope Brook, and the Victoria Lake Area. We look forward to new developments coming out of the BVBL as the area is quickly becoming known for its rare earth potential.”

Figure 1 – Location of Marvel / Falcon’s Baie Verte Projects Optioned to Carmanah Mineral Corp.

The transaction is considered a non-arm’s length as a result of the companies having directors and officers in common and is subject to TSX-V approval.

Qualified Person

Greg Robinson, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
- Atikokan, Ontario (BlackFly – Au Prospect)
- Elliot Lake, Ontario (East Bull – Ni-Cu-PGE Prospect)
- Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
- Prince George, British Columbia (Wicheeda North – Rare Earth Elements Prospect)
The Company’s website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.
“Karim Rayani”
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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June 8, 2023
AJN Resources Announces Signing of Binding Term Sheet for Option to Acquire up to 70% Indirect Interest in Highly Prospective Lithium Exploration Permit Located on Manono Trend in Eastern DRC

2023-06-02 06:33:25

Vancouver, British Columbia–(Newsfile Corp. – June 2, 2023) – AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce that it has entered into a binding term sheet (Term Sheet) with Palm Constellation SARL (Palm), which is a limited liability company with its registered office in Kinshasa, Democratic Republic of Congo (DRC), for an option to acquire up to a 70% indirect interest in exploration permit PR 15282 located in the Manono Territory, Tanganyika Province of the DRC. Manono is located roughly 500km north of Lubumbashi and can be accessed by road from Lubumbashi or by a one-and-a-half-hour flight.

PR 15282 is located roughly 7km northeast of the northern extension of the Manono pegmatites and 15km northeast of Manono centre as shown in Figure 1. Although the licence is under extensive soil cover an extrapolation of the Manono pegmatites suggests these pegmatites could potentially continue onto PR 15282 as suggested in Figure 1.

Figure 1: Mined Pegmatites over 13km at Manono and Potential Extension of these Pegmatites onto PR 15282

The Manono pegmatites lie within a broader pegmatite bearing belt which covers roughly 500km within the mid-Proterozoic Kibaran litholgies in the eastern DRC. The belt is strongly associated with lithium, tin, tungsten, tantalum, niobium and beryllium mineralisation and was exploited historically for tin up to early 1980’s at Manono. AVZ Minerals Limited has defined a measured, indicated and inferred mineral resource totalling 401M tonnes at 1.65% Li₂O as reported in their ASX announcement dated 24 May 2021 at their Roche Dure Prospect located within the Kitolo pegmatites shown in Figure 1. Trenching programmes announced by AVZ Minerals on 12 September 2017 identified highly weathered pegmatites in the northernmost trench covering the Manono pegmatites suggesting pegmatites continue to the northeast.

Mr. Klaus Eckhof, CEO and President of AJN, commented, “We are extremely excited about this latest acquisition which potentially covers 10km of highly prospective ground with good potential to host lithium bearing pegmatites under surficial cover. Historically, mining and exploration was concentrated on the exposed spodumene bearing pegmatites around Manono which cover a strike length of approximately 13km and little focus was placed on following the extension of these pegmatites under cover to the northeast. We are further encouraged by the location of the project within the broader 120km pegmatite belt with known tin/lithium/tantalite occurrences which have been defined or mined over 500km of strike.”

The Term Sheet states that AJN will pay US$50,000 to Palm within 10 days of the date on which the Term Sheet was fully signed, upon which AJN will have up to 6 months to conduct due diligence, which will include soil sampling, trenching and, if warranted, a short drilling programme. Field work is expected to commence within the coming weeks. Within sixty (60) days of the date on which the Term Sheet is fully signed, AJN will pay US$100,000 to Palm.

At the conclusion of the due diligence programme and not later than 180 days after the Term Sheet is fully signed and upon satisfaction of certain conditions including the completion of technical, financial and legal due diligence by AJN, and obtaining all necessary approvals in the DRC and by AJN, AJN will notify Palm of its decision to exercise its option to acquire up to a 70% indirect interest in PR 15282.

AJN can acquire a 51% indirect interest in PR 15282 by paying an additional US$250,000 to Palm and issuing that number of shares to Palm equal to 10.5% of the issued and outstanding shares in AJN. AJN shall have the right to purchase an additional 9% indirect interest in PR 15282 (for a total 60% indirect interest), by paying an additional US$250,000 to Palm and issuing an additional 4,000,000 Shares to Palm.

AJN can acquire a further 10% indirect interest in PR 15282 (for a total 70% indirect interest) by paying an additional US$5,000,000 to Palm.

AJN is responsible for funding exploration of PR 15282 to conclusion of a definitive feasibility study. At completion of the definitive feasibility study and should AJN wish to continue, AJN will arrange all project finance which will be recovered as a priority from production. If AJN is not able to arrange 100% project finance, Palm will arrange the missing part of the project finance or each party will contribute to expenditures not covered by the project finance on a pro-rata basis or dilute according to an industry standard formula. Should AJN withdraw, AJN will have no further interest and will return all data to Palm.

QP Statement

Mr Stephen Alan Mawson is a consultant of AJN Resources Inc. and qualified geologist and is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03) and a member of the Geological Society of South Africa. Mr Mawson is a qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

About AJN Resources Inc.

AJN is a junior exploration company. AJN’s management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.

For further information, please contact Investor Relations:

Sheena Eckhof
Director, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.

Visit us at www.ajnresources.com
Tel: +44 7496 291547

On Behalf of the Board of Directors

Klaus Eckhof
CEO and President
This email address is being protected from spambots. You need JavaScript enabled to view it.

Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Not for distribution to United States newswire services or for dissemination in the United States.

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June 2, 2023
Gold Terra Resource Announces Signing of Definitive Option Agreement with Midas Minerals Limited to Explore for Lithium and Rare Earth Minerals on 718.8 square kilometres of its Yellowknife Property, Northwest Territories, Canada
2023-05-31 13:47:51
VANCOUVER, BC / ACCESSWIRE / May 31, 2023 / Gold Terra Resource Corp. (TSX-V:YGT) (Frankfurt:TX0) (OTCQX:YGTFF) (“Gold Terra” or the “Company“) is pleased to announce that Midas Minerals Limited (ASX: MM1) (“Midas Minerals“) has entered into a definitive option agreement with Gold Terra (the “Definitive Agreement“) as previously outlined (see April 4, 2023 press release) to provide, among other things, that Midas Minerals can earn up to an 80% participating interest in two stages for the “Critical Minerals” (pegmatite hosted lithium, tantalum and tin (Li, Ta, Sn), Lithium-cesium-tantalum (LCT), and rare earths or other rare earth deposits) contained within the Quyta-Bell and Eastbelt blocks totaling 536.1 square kilometres on the Company’s 100% owned Yellowknife property, as well as an additional 17 recent applications comprising the Quyta-Bell East property covering 182.7km². These holdings exclude the potential gold belt area on which the Company’s current drilling and exploration program is focused on.

Chairman and CEO, Gerald Panneton, commented, “We are pleased to have entered into a definitive agreement with Midas Minerals and look forward to their exploration program for lithium and critical minerals. In addition to the prolific abundance of gold in the Yellowknife gold district, our extensive land holdings have excellent potential for critical minerals with the large number of LCT pegmatites that have been recorded in the Yellowknife LCT pegmatite field. As we are currently focused on our high-grade gold deep drilling target to test the extensions of gold zones under the former Con Mine workings, the agreement gives us exposure to the potential for critical minerals discovery at no cost to Gold Terra until a positive bankable feasibility study is completed. This definitive agreement is expected to bring value to both companies and their shareholders.”

Definitive Option Agreement Summary
- To earn a 51% participating interest in the Critical Mineral rights, over a period that ends on September 30, 2026, Midas Minerals must pay to the Company the sum of $1.2 million in cash, must deliver to the Company approximately $300,000 worth of common shares of Midas Minerals, must incur exploration expenditures of $5.0 million and must grant Gold Terra a 1.5% gross revenue royalty (“GRR”) on the basis of 100% production of Critical Minerals on the Quyta Bell and Quyta-Bell East blocks. Midas has the right to purchase half of the GRR royalty for $5.0 million.
- Midas Minerals has exclusivity to earn 51% interest in the first 3 years, and up to another 29% interest over the next following 2 years for up to an 80% interest in the Critical Mineralsrights as well as an interest in the mineral claims known to host or which may host Critical Minerals over a a portion of the Company’s Yellowknife property (YP). Rights to all other minerals remain with Gold Terra. If Midas Minerals does not elect to earn the additional 29% participating interest (after having earned the 51% participating interest), then Midas Minerals must transfer a 2% participating interest to Gold Terra (so that the participating interests between Gold Terra and Midas Minerals will be 51%/49%). To earn the additional 29% interest in the Critical Minerals, Midas Minerals must incur an additional $5.0 million of exploration expenditures and an additional cash payment in the amount of $500,000.
- Gold Terra and Midas Minerals will form a Critical Minerals joint venture upon the exercise by Midas Minerals of the first option (to acquire the 51% participating interest).
- If Midas Minerals earns the 80% participating interest, the interest of Gold Terra in the Critical Minerals joint venture will be fully carried until the Critical Minerals joint venture has approved a bankable feasibility study for the development of a Critical Minerals project on any part of the Quyta-Bell and Eastbelt Block of Gold Terra’s holdings in Yellowknife, NWT.
- Midas Minerals has commenced exploration at the Yellowknife Lithium Project (YLP) and expects to have two exploration teams mapping and sampling on the project during June.
- The definitive option agreement is subject to standard conditions precedent which include the receipt of third-party consents and waivers.
Project Area

The YLP is located East and North in close proximity to Yellowknife, Northwest Territories, Canada and comprises the three adjoining Quyta-Bell, Quyta-Bell East and Eastbelt blocks for a total of 718.8 square kilometres as shown in Figure 1 below.

More than 100 LCT pegmatites are known in the region, including historic references to lithium and tantalum occurrences within the YLP tenure. The Eastbelt block is located 4 kilometres east to 30 kilometres northeast of Yellowknife and totalling approximately 173 square kilometres. The Eastbelt block is also subject to an underlying royalty agreement with Osisko Royalties which has an option to purchase up to a 3% NSR. The Quyta-Bell block is located 30 kilometres to 60 kilometres north of Yellowknife and totalling approximately 371 square kilometres. The Quyta-Bell East block, as the name suggests, is located east of Quyta-Bell. The Quyta-Bell tenements cover a larger underexplored area with favourable geology for both gold and lithium.

Figure 1 – Location Map

Qualified Person

Joe Campbell, P. Geo., Senior Technical Advisor for Gold Terra, is a Qualified Person within the meaning of NI 43-101 and has reviewed and approved the technical information contained in this news release.

About Gold Terra

The Yellowknife Project (YP) encompasses 800 square kilometres of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 20 kilometres of the City of Yellowknife, the YP project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is focusing its exploration activities on the prolific Campbell shear, where 14 million ounces of gold has been produced, and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine (1938-2003).

The YP and CMO projects lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

About Midas Minerals

Midas Minerals is a junior mineral exploration company with a primary focus on lithium and gold. Midas Minerals’ Board and management has a strong track record of delivering value for shareholders through mineral discoveries and mine development and growing microcap explorers into successful ASX100-ASX300 companies. The Company has three projects located in Western Australia, as well as the Greenbush Project in Ontario, Canada. Newington Lithium-Gold Project: located at the north end of the Southern Cross and Westonia greenstone belts, prospective for lithium and gold. Exploration in 2022 has outlined anomalous lithium and LCT indicator elements over at least 20km strike. Weebo Gold Project: Located within the Yandal greenstone belt between the Thunderbox and Bronzewing gold mines, prospective for gold and nickel. Drilling in 2022 intercepted significant gold mineralization on several prospects. Challa Gold, Nickel-Copper-PGE Project: A number of significant PGE and gold-copper exploration targets have been defined and drilling is expected to commence in 2023. Greenbush Lithium Project: located proximal to infrastructure, with little outcrop and no historic drilling. A 15 metre by 30 metre spodumene bearing pegmatite outcrop was discovered in 1955 on the northeast shore of a lake and sampled by the Ontario Geological Survey (OGS) in 1965.

Visit our website at www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Chairman & CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.

Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

Certain statements made and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities legislation (“forward-looking information“). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events, conditions or results “will”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the Company’s large Yellowknife land holdings having excellent potential for critical minerals exploration in addition to the prolific abundance of gold that the Yellowknife gold district is known for, the deal giving the Company exposure to the potential for critical minerals discovery at no cost to the Company until a positive bankable feasibility study is completed, the deal expected to bring value to both companies and their shareholders, the potential for Midas Minerals to earn a participating interest in the Critical Minerals and mineral claims, Midas Minerals exploration plans at the YLP in June 2023, and the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section in the Company’s most recent MD&A and annual information form available under the Company’s profile at www.sedar.com.

Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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May 31, 2023
Chesapeake Gold Announces Stock Option Grant

2023-05-31 05:05:00

Vancouver, British Columbia–(Newsfile Corp. – May 31, 2023) – Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company“) is pleased to announce that today Mr. Jean-Paul Tsotsos stepped into his role as the Company’s Vice President Investor Relations & Corporate Development (previously announced by news release dated April 18, 2023).

Chesapeake further announces the grant of stock options under its Stock Option Plan to Mr. Tsotsos to purchase an aggregate of 100,000 common shares of the Company at an exercise price of C$1.70 per share for a five-year term expiring May 29, 2028. The options will vest and be exercisable on the basis of 25% annually, commencing May 29, 2024, the first anniversary of the date of the grant.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake’s flagship asset is the Metates project (“Metates“) located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas.¹

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at This email address is being protected from spambots. You need JavaScript enabled to view it. or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

_____________________________
¹ Mexico’s biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

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May 31, 2023
Pacific Imperial Mines Signs Option Letter Agreements to Acquire 100% of Two BC Properties with Demonstrated Porphyry Copper Potential

2023-05-29 06:07:36

Mr. Chris McLeod reports:

Vancouver, British Columbia – TheNewswire – May 29, 2023 – Pacific Imperial Mines Inc. (TSXV:PPM) (“Pacific Imperial” or the “Company”) is pleased to announce it has entered into two option letter agreements dated March 31, 2023 (“Option Agreement”) whereby the Company may acquire a 100% interest in the two exploration projects, Pam and Babine in Central British Columbia. Both projects are road accessible with demonstrated porphyry copper potential.

The Pam property consists of seven mineral claims covering 2,403 hectares located approximately 25 km northeast of the Huckleberry Cu-Mo Mine. The Company may exercise the option on the Pam property by paying an aggregate cash consideration of $165,000, issuing common shares of the Company valued at $175,00 and incurring exploration expenditures on the Property of $2,413,500 all in staged amounts by March 23, 2027. Upon the exercise of the option, the Company will own a 100% interest in the Pam property. The Pam property is subject to a 2% net smelter returns royalty held by three private owners.

The Pam property is in a low lying extensively drift covered area approximately 25km northeast of the Huckleberry Cu-Mo Mine. Past exploration has identified granitoid outcrops and float samples with porphyry style alteration and mineralization. A small section of the property in the northeast corner was tested with 24 shallow percussion holes with the westernmost hole returning anomalous copper values. No follow-up drilling has been conducted. A recent regional scale airborne Z-TEM survey carried out by Surge Copper Corp. identified an anomaly that is similar to other porphyry deposits in the area, which is situated on the southwestern edge of the project. An exploration program consisting of geological, geochemical and geophysical surveys is planned for further work.

The Babine property consists of three mineral claims covering 2,226 hectares located 1.5 km north of Granisle Mine. The Company may exercise the option on the Babine property by paying an aggregate cash consideration of $161,250, issuing common shares of the Company with a valued of $168,750 and incurring exploration expenditures on the Property of $2,354,500 all in staged amounts by March 23, 2027. Upon the exercise of the option, the Company will own a 100% interest in the Babine property. The Babine property is subject to a 2% net smelter returns royalty held by four private owners.

The Babine property is extensively till covered but previous exploration; including, prospecting, geophysics and drilling located sulphide mineralization in several areas. A number of semi-circular magnetic anomalies similar in size and shape to the Bell and Granisle mines are located on the property but have only been subject to cursory exploration. Recent work by other companies to the north of the Babine project have had success with deep drilling targeting pre-existing geochemical and geophysical anomalies.

The Option Agreements are subject to the Company obtaining the approval of the TSX Venture Exchange. The Common Shares issued under the Option Agreement will be subject to a hold period ending four months and one day after the date of issuance in accordance with applicable securities laws.

Qualified Person Statement

Pacific Imperial Mines disclosure of technical and scientific information in this news release has been reviewed by Peter Holbek, Director, Pacific Imperial Mines Inc. Mr. Holbek, B.SC (Hons), M.Sc. P. Geo. is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

About Pacific Imperial Mines

Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the acquisition, exploration, evaluation and development of mineral properties in an acceptable risk environment. The Company’s current focus is on the Eagle Mountain Lithium property in the USA and the Brownell property in Saskatchewan.

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris McLeod”

Chris McLeod, CEO

For further information please contact:

Roman Shklanka, Chairman, at 604-649-6195,

or

Chris McLeod, CEO and President, at 604-669-6332

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this News Release.

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May 29, 2023
F3 and SKRR Announce Option Agreement for Clearwater West Property

2023-05-26 11:26:28

Kelowna, British Columbia–(Newsfile Corp. – May 26, 2023) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that, further to the news release dated April 10, 2023, it has entered into an option agreement with SKRR Exploration Inc. (‘SKRR“) respecting an option for SKRR to acquire up to a 70% interest in the Clearwater West Property. The Clearwater West Property is comprised of 3 contiguous mineral claims totaling 11,786 hectares.

The Clearwater West Project is located ~20km outside the edge and in the south-west area of the Athabasca Basin, which is poised to become the next area for the development of major uranium mines in Saskatchewan. It is 13 km south of Fission Uranium’s Triple R deposit, located 7 km outside the basin edge on its PLS Property, where a Feasibility Study was recently completed, and 17 km south of NexGen’s Arrow uranium deposit.

Clearwater West is an early-stage exploration project prospective for hosting high-grade uranium mineralization. High grade uranium mineralization in or near the Athabasca Basin is generally associated with graphitic and sulphide bearing shear zones exhibiting hydrothermal alteration. These features often have distinctive conductive signatures which can be identified as electromagnetic (EM) conductors. A previously flown property-wide VTEM Max airborne survey flown over the property in 2014 identified numerous parallel conductive trends. Some of these still warrant ground follow up while others were previously detailed with ground Time Domain EM surveys and ground DC Resistivity surveys in 2015 and have defined prospective drill targets. F3 cautions that past results or discoveries on proximal lands are not necessarily indicative of the results that may be achieved on the Clearwater West Property.

F3 and SKRR are non-arm’s length parties (as defined in TSXV Policy 1.1) given that they share a common officer.

Term of the Option Agreement

Pursuant to the Option Agreement in respect of the Clearwater West Property (the “Clearwater West Agreement“, F3 has granted an option to SKRR to acquire a 50% interest in the Clearwater West Property through (i) cash payments to F3 of an aggregate of C$50,000, (ii) the issuance to F3 of an aggregate of 5,000,000 common shares of SKRR and (iii) the completion of $3,000,000 in exploration work on the Clearwater West Property over two years. F3 will retain a 2.0% NSR royalty of which 1% may be repurchased by SKRR for $1,000,000. Upon completion of the 50% interest earn-in, F3 and SKRR will automatically enter into a joint venture and will negotiate to formalize a joint venture agreement. Pursuant to the terms of the Clearwater West Agreement, SKRR will have the option to increase its interest in the Clearwater West Property to 70% by making additional cash payments totaling $50,000, and completing an additional $3,000,000 in exploration work on the Clearwater West Property, on or before the date that is three years following the date of the Clearwater West Agreement.

Qualified Person:

The scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and approved on behalf of the Company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a “Qualified Person” as defined in NI 43-101.

About F3 Uranium Corp.:

F3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 16 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow, and Hurricane.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding future payments, issuance of shares and work commitment funds and entry into of the Clearwater West Agreement, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved, or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

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May 26, 2023
SKRR Exploration Announces Definitive Option Agreement with F3 Uranium for Clearwater West Project, Saskatchewan

2023-05-26 03:04:12

VANCOUVER, BC, May 26, 2023 /CNW/ – SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (“SKRR” or the “Company“) is pleased to announce that, further to the news release dated April 10, 2023, it has entered into an option agreement with F3 Uranium Corp. (“F3“) respecting an option for SKRR to acquire up to a 70% interest in the Clearwater West Property. The Clearwater West Property is comprised of 3 contiguous mineral claims totaling 11,786 hectares.

The Clearwater West Project is located ~20km outside the edge and in the south-west area of the Athabasca Basin, which is poised to become the next area for the development of major uranium mines in Saskatchewan. It is 13 km south of Fission Uranium’s Triple R deposit, located 7 km outside the basin edge on its PLS Property, where a Feasibility Study was recently completed, and 17 km south of NexGen’s Arrow uranium deposit.

Clearwater West is an early-stage exploration project prospective for hosting high-grade uranium mineralization. High grade uranium mineralization in or near the Athabasca Basin is generally associated with graphitic and sulphide bearing shear zones exhibiting hydrothermal alteration. These features often have distinctive conductive signatures which can be identified as electromagnetic (EM) conductors. A previously flown property-wide VTEM Max airborne survey flown over the property in 2014 identified numerous parallel conductive trends. Some of these still warrant ground follow up while others were previously detailed with ground Time Domain EM surveys and ground DC Resistivity surveys in 2015 and have defined prospective drill targets. SKRR cautions that past results or discoveries on proximal lands are not necessarily indicative of the results that may be achieved on the Clearwater West Property.

F3 and SKRR are non-arm’s length parties (as defined in TSXV Policy 1.1) given that they share a common officer.

Term of the Option Agreement

Pursuant to the Option Agreement in respect of the Clearwater West Property (the “Clearwater West Agreement“, F3 has granted an option to SKRR to acquire a 50% interest in the Clearwater West Property through (i) cash payments to F3 of an aggregate of C$50,000, (ii) the issuance to F3 of an aggregate of 5,000,000 common shares of SKRR and (iii) the completion of $3,000,000 in work expenditures on the Clearwater West Property over two years. F3 will retain a 2.0% NSR royalty of which 1% may be repurchased by SKRR for $1,000,000. Upon completion of the 50% interest earn-in, F3 and SKRR will automatically enter into a joint venture and will negotiate to formalize a joint venture agreement. Pursuant to the terms of the Clearwater West Agreement, SKRR will have the option to increase its interest in the Clearwater West Property to 70% by making additional cash payments totaling $50,000, and completing an additional $3,000,000 in work expenditures on the Clearwater West Property, on or before the date that is three years following the date of the Clearwater West Agreement.

Senergy Capital – Digital Marketing

The Company announces that it has engaged Senergy Capital to provide and oversee digital marketing for the Company. The digital marketing services include content creation, web development, advertising creative development, advertising strategy, campaign reporting and optimization. Senergy Capital will help manage and oversee the Company’s social media platforms.

Qualified Person:

The scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101- Standards of Disclosure for Mineral Projects (“NI 43-101“) and approved by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a “Qualified Person” as defined in NI 43-101.

About SKRR Exploration Inc.:

SKRR is a Canadian-based precious and base metal explorer with properties in British Columbia and Saskatchewan – some of the world’s highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.

ON BEHALF OF THE BOARD

Sherman Dahl
President & CEO
Tel: 250-558-8340

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the technical, financial and business prospects of the Company, its projects and other matters, and the Company’s plans and goals. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company’s profile on SEDAR at www.sedar.com. There is a possibility that future exploration, development or mining results will not be consistent with the Company’s expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of metals and commodities, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

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May 26, 2023
Mirasol Resources Signs Option Agreement with AngloGold Ashanti’s Cerro Vanguardia SA Mine to Advance Claudia Gold-Silver Project in Argentina
2023-05-23 08:37:11
- Claudia Project directly south of Cerro Vanguardia Mine: 15 kilometers from the mill
- Minimum of 2,500 meters of drilling within the first 24 months and the option to complete 12,500 meters of drilling within 4 years
- Mirasol retains 2% NSR Royalty upon the exercise of the Option
- Southern most veins on the Cerro Vanguardia property trend onto Claudia Property
- Five distinct, highly prospective vein trends within the very large Claudia Property
- Drill ready targets with water permits and access agreements in place
VANCOUVER, British Columbia, May 23, 2023 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Company” or “Mirasol”) is pleased to report the signing of an Option Agreement (“Agreement”) with Cerro Vanguardia SA Gold-Silver Mine (“CVSA”) owned by AngloGold Ashanti (92.5%) and FOMICRUZ S.E. (7.5%) for the exploration of Mirasol’s Claudia Gold-Silver Project (“Claudia”), located directly south of the CVSA Gold-Silver Mine in the province of Santa Cruz, Argentina.

“The Agreement with CVSA demonstrates the potential for continued discovery and resource development at Claudia,” Mirasol’s President Tim Heenan stated. “The 2% royalty has the potential to offer significant near-term value to Mirasol shareholders as resources defined at Claudia could be processed quickly and efficiently at the nearby Cerro Vanguardia mill.”

Figure 1: District Regional Map

The extensive 65,192-hectare Claudia Gold-Silver Project is a highly prospective, low sulphidation epithermal (LSE) gold/silver project, located in the Deseado Massif of Argentina’s Santa Cruz province, directly adjacent to the southern border of the producing CVSA Mine. Five distinct prospective vein trends have been identified at Claudia including the Curahue Vein Field and the Rio Seco Prospect. In 2012, Mirasol discovered the large northwest trending 15-kilometer long Curahue vein field, which may be considered a southern parallel structure, similar to the controlling structures further north at the Cerro Vanguardia vein field. Curahue hosts six isolated vein segments. Claudia also hosts two shallow paleo-surface expressions of “sinter fields” at both Calandria and Rio Seco. These sinters are considered attractive targets as any mineralized structure found beneath would be completely preserved and not reduced by erosion. Neither of these sinter occurrences have been drilled to date. The exploration potential of the Claudia Project, particularly along the largely untested Curahue and Rio Seco trends, show clear potential for Vanguardia-style vein-hosted epithermal gold-silver mineralization.

Figure 2: Principal Prospects and Mineralized Trends

Terms of the Claudia Option Agreement

a) Within the first two years of the Agreement CVSA may complete such mapping and sampling, trenching and geophysics as required in its absolute discretion to develop drill targets, and fulfill a minimum drilling commitment of 2,500 meters diamond drilling; and then CVSA will have the option, subject to the term of the agreement, to:

1) Complete within three years, not less than an aggregate of 6,000 meters of diamond drilling;

2) Complete within four years, not less than an aggregate of 12,500 meters of diamond drilling;

b) Upon completion of the above commitments, CVSA shall have the right to exercise the Option under the Agreement and subject to the terms of the Royalty Agreement, CVSA shall grant Mirasol a 2% Net Smelter Royalty on future production from the Claudia Project.

History at Mirasol’s Claudia Property

The Claudia Project was originally staked in 2004 as part of Mirasol’s Santa Cruz exploration program. Mirasol, in conjunction with various joint venture (JV) partners, has completed over 19,000 meters of combined reverse circulation (RC) and diamond core (DDH) drilling, more than 4,000-line kilometers of ground magnetometry, 249-line kilometers (43 km2) of gradient array IP geophysics covering six separate blocks, almost 100-line km’s electrical IP- Pole-di-Pole geophysical lines, collected over 3,500 rock chip samples, 4,500 rock trench channel samples from 200 trenches, close to 1000 MMI geochemical soil samples and 1,500km² in detailed geological mapping.

Between 2006 and 2010 two phases of drilling were completed with a JV partner, including 3,794 meters of drilling in 26 holes and 3,168 meters of RC drilling in 25 holes. Drilling results from these campaigns included multiple intercepts with greater than 100 g/t silver, including five intercepts from 118 g/t silver to 217 g/t silver and up to 1.3 g/t gold.

During 2012, Mirasol’s inhouse exploration team expanded and defined the impressive 15 km long Curahue vein trend, which is largely concealed by shallow gravel cover (<5m) and is seen to host six large individual vein trends, namely the Europa, IO, Ganymede, Callisto, Themisto and Sinope segments. Large extensions of these trends have been traced under cover by electrical IP (Gradient Array) geophysical campaigns.

Figure 3: Curahue Trend – Principal Mineralized Vein Segments and Themisto Chargeability Target

At the Rio Seco prospect, located on the easternmost part of Claudia, Mirasol’s early prospecting discovered the first outcropping veins at Claudia where select surface samples returned up to 20.1 g/t gold and 1,175 g/t silver from the “J Vein”. Saw-cut channel and trench intersections returned 0.7 meters at 13.9 g/t gold and 229 g/t silver and 10.5 meters of 1.9 g/t gold and 22 g/t silver from mineralized zones along the expansive Rio Seco vein field (see news release June 14, 2012).

During Q2 2012, Mirasol drilled a total of 2,599 meters in 25-holes. The best results included individual assays of up to 0.83 meters at 6.59 g/t gold and 139.3 g/t silver (9.12 g/t gold equivalent) and broad intersections of anomalous gold and silver up to 15.3 meters of 0.29 g/t gold and 50.9 g/t silver (1.22 g/t gold equivalent) (see news release March 4, 2013).

During 2016/17, under a previous JV with CVSA, a combined 7,525 meters of RC and DDH drilling was completed at Claudia. The majority of the drilling was focused along a 2.2-kilometer section of the “IO vein”, one of the six prospects identified to-date along the 15 km long Curahue trend (see news release December 16, 2016 and February 17, 2017).

A major “milestone” of the CVSA drilling at the “IO” vein was the discovery of a 600 meter long, open-ended mineralized body hosting silver/gold mineralization which starts a few meters below surface and has been drill tested to a vertical depth of 135 meters. This strongly mineralized trend requires follow-up work both downdip and along the strike of the structure. Highlight results included:

High-grade vein: 0.6 m at 11.72 g/t gold and 1,224 g/t silver.
Vein and veinlet composite: 9.3 m at 1.40 g/t gold and 134.6 g/t silver.

From October 2017 through March 2019, Mirasol with a JV partner drilled 2,529 meters in 12 holes at Claudia. Drilling completed to July 2018 focused mostly at the Curahue prospect, with 10 DDH holes totaling 2,270 m completed, to test targets on the Europa, IO, Themisto and Callisto segments, along the extension of the Curahue trend.

Drill results from the Curahue prospect, Europa and IO vein trends include 0.6 m at 0.08 g/t gold and 610.0 g/t silver, 0.55 m at 1.15 g/t gold and 22.9 g/t silver; and 0.9 m at 1.95 g/t gold and 5.7 g/t silver from the Cilene prospect (see news release September 17, 2018).

Following termination of that JV, Mirasol completed additional surface exploration work resulting in the definition of new drill targets that remain to be tested. A total of 249 new rock chip samples were collected from the Curahue trend, with results up to 7.99 g/t gold and 69 g/t silver. In addition, two new IP geophysical surveys, focused on the Curahue and Themisto prospects, were completed extending existing survey coverage at Claudia (see news release May 8, 2019).

Rubi Copper Project in Chile

Mirasol today also announces that the option agreement on the Rubi Copper Porphyry Project in Chile (“Rubi”) with Mine Discovery Fund Pty Ltd. (“MDF”), a private Australian company, has been terminated. MDF exceeded its contractual minimum commitment by spending US$890,000 on exploration during the term of the option agreement (see news release dated October 15, 2020). The exploration program included field mapping, surface sampling, geophysics and 1,887 meters of drilling at the Lithocap and Zafiro targets. Having recovered an undivided 100% interest in Rubi, Mirasol is evaluating options to refine remaining drill targets at Rubi and is currently in discussions with potential alternative partners to drill test these targets.

About Mirasol Resources Ltd

Mirasol is a well-funded exploration company with 18 years of operating, permitting and community relations experience in the mineral rich regions of Chile and Argentina. Mirasol controls 100% of the high-grade Virginia Silver Deposit in Argentina and is currently self-funding exploration at two flagship projects, Sobek and Inca Gold, both located in Chile. Mirasol also continues to advance a strong pipeline of highly prospective early and mid-stage projects.

For further information, contact:

Tim Heenan, President
or
Troy Shultz, Vice President Investor Relations
Tel: +1 (604) 602-9989
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.mirasolresources.com

Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been reviewed and approved by Tim Heenan (MAIG), the President for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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May 23, 2023

Antler Gold Announces Option Agreement with Prospect Resources Limited to Sell 51% Interest of Highly Prospective Kesya Rare Earth Project in Zambia

2023-05-12 06:06:15

Halifax, Nova Scotia–(Newsfile Corp. – May 12, 2023) – Antler Gold Inc. (TSXV: ANTL) (“Antler” or the “Company“) is pleased to announce that Antler and its subsidiary Antler Exploration Zambia Limited (“Antler Exploration“) have entered into an option agreement (the “Option Agreement“) with Prospect Resources Limited (ASX: PSC) (FSE: 5E8) (“Prospect” or the “Partner“) pursuant to which Prospect has an option to acquire 51% interest in Antler Exploration, which holds the Kesya Rare Earth Project (“Project“) located in southern Zambia.

Deal Highlights:

Prospect has up to two years to acquire a 51% interest in Antler Exploration which holds the Kesya Rare Earth Project via a total combined counterparty consideration and project expenditure payments amounting to US$3.05 million.

Phase 1 commitment by Prospect is two cash payments of an aggregate of US$150,000 and US$350,000 in exploration expenditures as well as an issuance of US$500,000 worth of Prospect common shares within 30 days of the completion of Phase 1.

Phase 2 option commitment by Prospect is a cash payment of US$150,000 and US$750,000 in exploration expenditures as well as an issuance of US$500,000 worth of Prospect common shares within 30 days of electing to proceed to Phase 2.

The final phase commitment by Prospect is a cash payment of US$150,000 as well as an issuance of US$500,000 worth of Prospect common shares at the end of the 2 year option period which will then earn Prospect 51% of Antler Exploration.

Project Highlights:

The Project covers a Large-Scale Exploration License Application where geological mapping and surface sampling conducted by Antler Exploration has identified a large, rare earth-element enriched carbonatite.

Rock chip samples assayed by Antler Exploration outline very encouraging total rare earth element oxide (TREO) mineralisation contained within monazite and bastnaesite with low levels of uranium and thorium.

The Kesya rock chip results provide highly anomalous surface values in rare earth elements with the highest grab sample to date assaying 6559 ppm (0.66%) TREO.

The grab samples are enriched in neodymium (Nd) and praseodymium (Pr) oxides which average 29% of the TREO content and makes this a very encouraging basket distribution.

Keysa’s large amount of carbonatite outcrop allows for easy drill targeting offering prospectivity to rapidly delineate a mineral resource and make a significant new rare earth element discovery in Zambia.

Antler Exploration along with its partner Prospect are preparing for an initial 1,500m diamond drilling program to test the subsurface expression and depth extent of the mapped and sampled rare earth element enriched carbonatite.

Christopher Drysdale, CEO of Antler commented:

“We are extremely excited to announce this agreement with Prospect. It’s a testament to our commitment to strategic partnerships with highly credible organizations that share our vision for value creation. Prospect has an outstanding track record, which is demonstrated by their successful advancement of the Arcadia lithium project in Zimbabwe. This agreement represents a significant milestone for Antler Gold as it underscores our ability to identify promising mineral prospects across Africa and align ourselves with top-tier companies. Not only does this partnership enable us to leverage Prospect’s industry-leading expertise, but it also establishes a solid foundation for potential future collaborations, while maintaining significant exposure to the highly promising Kesya REE project.”

Prospect’s Managing Director and CEO, Sam Hosack, commented:

“The Option Agreement we have struck in relation to the highly prospective Kesya REE Project in Zambia is another significant milestone, which extends our reach further into the battery and electrification mineral sector in Africa, in line with our strategic objectives. Kesya has all the ingredients of a world-class, rare earth enriched, carbonatite-hosted system, having also returned significant values of the high-value REEs, neodymium and praseodymium, over a broad surface area of the Project. Zambia is a leading jurisdiction to explore and develop mining operations in subSaharan Africa, having a long-standing history in the resources sector, particularly for copper. This includes excellent infrastructure and strong support from both the government and community, with major companies like Barrick Gold and First Quantum Minerals already calling it home. We are delighted to have reached this agreement with Antler, which is an established and respected Canadian exploration and development company focussed on its flagship Erongo and Onkoshi Gold Projects, located in central Namibia. The Kesya REE Project offers excellent potential to deliver a significant new, highvalue rare earths discovery, with defined existing drilling targets and a well-established operating environment. Subject to the satisfaction of all relevant conditions precedent, this is a high-quality greenfield exploration play for Prospect.”

Introduction and deal terms:

The Kesya carbonatite was first identified in 1961 by Bailey in the Kafue district in southern Zambia. An initial mapping campaign by Antler demonstrated that it is enriched with rare earth elements and warrants further exploration and drilling.

The Option Agreement is among Prospect, Antler and a subsidiary of Antler, Antler Exploration. Subject to satisfaction of certain conditions precedent, Prospect will have the right to earn a 51% interest in Antler Exploration over a two-phased earn-in arrangement over two years for total consideration of US$3.05 million, which includes consideration payments to Antler and in-ground project expenditure.

Prospect will pay an initial non-refundable cash payment to Antler of US$50,000 on signing. Following satisfaction of the conditions precedent under Phase 1, Prospect will pay Antler a further US$100,000 in cash, and commit to spend US$350,000 on the Project within one year (subject to certain extensions permitted under the Option Agreement). Prospect will also issue to Antler US$500,000 worth of Prospect common shares at the completion of Phase 1 (the value of the common shares will be set at the price of Prospect shares at the time of signing, based on previous 10-day VWAP).

After completion of Phase 1, Prospect can elect to proceed to Phase 2 or terminate the Option Agreement (and in this case Prospect will hold no interest in Antler Exploration).

If Prospect proceeds to Phase 2, it is required to pay Antler a further US$150,000 in cash and issue US$500,000 worth of Prospect common shares (the value of the common shares will be set at the price of Prospect shares as at the time of election to proceed to Phase 2, based on previous 10-day VWAP), and it will have the right, but not the obligation, to spend a further US$750,000 on the Project within one year from completion of Phase 1 (subject to certain extensions permitted under the Option Agreement).

If Phase 2 is completed, Prospect will be entitled to exercise a call option to acquire 51% of the issued and outstanding shares of Antler Exploration. To exercise the option, Prospect must make a final payment to Antler of US$150,000 cash and issue US$500,000 worth of Prospect common shares (the value of the common shares will be set at the price of Prospect shares as at the time of the exercise of the call option, based on previous 10-day VWAP).

Prospect will consult with Antler in relation to the work program and budget but will ultimately determine and manage all exploration activities in relation to the Project.

Upon completion of the acquisition, Antler Exploration will be governed by a shareholders agreement (“Shareholders Agreement”) among its shareholders. Prospect and Antler Exploration have agreed on the key terms of the Shareholder Agreement, with a full form Shareholder Agreement to be entered into in due course. Development funds for the Project are to be contributed by shareholders of Antler Exploration on a pro-rata basis. If a party does not contribute its pro rata share, its shareholding will be diluted via a prescribed formula. Neither party can be diluted below a 15% interest, from which point such interest shall be free-carried through to the completion of a JORC-Code reportable or NI 43-101 compliant Feasibility Study. The shareholder can then elect to convert its free carried interest to a 2% NSR or equivalent (“Royalty“) and the other shareholder has a right but not the obligation to purchase one half of the Royalty for US$5,000,000.

Proposed Exploration Programme

There has been no historic drilling done on the Kesya carbonatite and the subsurface beneath the extent of the mapped carbonatite complex and the depth extension is yet to be tested. Antler along with Prospect is designing a preliminary 1,500 metre diamond drilling programme at the project. (Figure.1) The aim is to evaluate the continuity of the identified surface REE mineralisation to depth. The initial exploration plan will be to drill twenty (20) 75m deep holes along the carbonatite as well as its contacts with the country rock by using a heli-man portable drill rig and pending all environmental and statutory approvals.

Project Location and Background

Figure 1.) Proposed Diamond Drill hole location plan for initial 1500m drilling.

The Kesya REE Project, comprises a single, large-scale exploration license (LEL) application covering 1053.13 hectares and is located near the town of Kafue in southern Zambia in the Kafue Gorge. This license is located approximately 90 km via a tarred road traveling south of the capital city of Lusaka and has water and power infrastructure nearby. Once the LEL is granted, Antler’s wholly owned Zambian subsidiary, Antler Exploration Zambia Limited will own 95% of the Kesya REE Project. The remaining 5% of the Project has local ownership.

Figure 2.) Map of the location of the Kesya carbonatite located south of the capital city Lusaka.

Project Geology

The Kesya Carbonatite intruded into gneisses of the Paleoproterozoic Basement Complex rock sequences near the intersection of the mid-Zambezi-Luangwa Rift Valley and the Kesya Rift.

The Kesya Carbonatite is divided into two major rock types: Firstly, a coarse-grained carbonatite with scattered country rock xenoliths: This carbonatite is mostly composed of coarse sövite with small amounts of chlorite. The second rock type is a carbonatite breccia, which surrounds the main intrusion.

The major minerals identified are magnetite, quartz, apatite, Fe-rich phlogopite, monazite, thorite, Ti-oxides, Fe-sulphides, calcite, ilmenite, and the REE-bearing mineral bastnaesite. Dating of apatite in samples from the carbonatite indicate that it is of Neoproterozoic age (Kesya is ca. 535±16 Ma).

Figure 3.) Map of the grab sample locations with associated TREO assay values.

The carbonatite forms a central topographic high surrounded by deeply incised valleys along its margins where weathering processes are more intense.

Field investigations by Antler, and petrological (Scanning Electron Microscope (SEM)) studies completed during 2021 demonstrated that the rare earth mineralisation at Kesya is hosted mainly in monazite (a REE phosphate mineral) and bastnaesite (a REE fluoro-carbonate mineral).

Junior Mining Network Figure 4.) View of the Kesya carbonatite (Looking towards the East from the Western edge of the Kafue Gorge)

Rare Earth Element Mineralisation

Antler Gold has completed mapping and sampling campaigns at Kesya in 2021, which involved reconnaissance work across the carbonatite complex and the collection of 51 rock chip grab samples taken on the license.

Figure 6; below shows a small selection of these rock chip grab samples along with their sample ID’s O6530 (A), O6537 (B), O6514 (C) and O6551 (D).

The rock chip samples collected by Antler at Kesya proved to be strongly and consistently mineralised with REE, with an average of 1280 ppm (0.13%) Total Rare Earth Oxide (TREO) content, peaking at 6559 ppm (0.66%) TREO.

Encouragingly, these samples also show consistently high contents of neodymium- and praseodymium oxide – key primary materials in the manufacture of strong permanent magnets for powerful motors, used in such devices as large, wind turbines, increasingly utilised in the global renewable energy sector.

Neodymium and praseodymium oxides average 29% of the Total Rare Earth Oxide (TREO) content of the rock chip samples collected from Kesya (Figure 5).

Junior Mining Network Figure 5.) Pie Chart showing average grades of Individual REO’s from the Kesya sampling campaign.

Junior Mining Network Figure 6.) Images of rock chip grab samples from field mapping at Kesya.

Summary of most recent grab assay results

				Y2O3	La2O3	Ce2O3	Pr2O3	Nd2O3	Sm2O3	Eu2O3	Gd2O3	Tb2O3	Dy2O3	Ho2O3	Er2O3	Tm2O3	Yb2O3	Lu2O3	TREO
Grab Sample	TREO %	X	Y	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
ZED001	0.146	654528	8243994	99	199	423	83	428	95	20	61	7	27	4	8	1	5	1	1459
ZED003	0.03	654528	8243994	19	44	117	17	78	16	3	10	1	5	1	2	0	1	0	315
ZED004	0.117	654453	8243961	53	181	457	63	296	53	10	28	3	13	2	5	1	4	1	1169
ZED005	0.125	654603	8243960	66	186	477	67	322	57	11	31	3	15	2	6	1	4	1	1249
ZED006	0.122	654528	8243938	62	186	463	66	311	58	12	33	4	15	2	5	1	4	1	1223
O6501	0.127	655936	8242155	130	186	454	62	285	50	9	35	4	23	4	12	2	12	2	1272
O6503	0.097	655859	8242297	48	147	370	52	247	43	8	26	3	12	2	4	1	3	1	968
O6504	0.202	655543	8242438	94	335	805	109	488	81	15	50	6	23	3	8	1	5	1	2025
O6505	0.089	655536	8242197	42	149	341	46	213	39	9	26	3	11	2	4	0	3	0	888
O6506	0.168	655642	8241806	75	251	657	92	435	75	15	44	5	19	3	6	1	4	1	1683
O6510	0.103	655936	8242316	98	133	358	51	248	50	9	37	4	20	3	8	1	6	1	1029
O6511	0.132	655805	8242525	63	198	506	72	343	59	12	35	4	16	2	5	1	4	1	1320
O6512	0.125	655779	8242562	57	204	491	67	304	54	10	32	3	15	2	5	1	4	1	1251
O6513	0.100	655738	8242593	56	158	388	53	244	42	9	26	3	13	2	5	1	3	1	1003
O6514	0.143	655734	8242626	91	195	522	76	374	72	12	47	5	22	3	7	1	4	1	1432
O6515	0.083	655864	8242675	56	127	313	43	197	35	7	22	3	12	2	4	1	3	0	825
O6520	0.077	655916	8243505	42	118	299	41	191	32	7	20	2	9	1	3	0	3	0	771
O6521	0.097	655865	8243435	47	145	374	53	252	43	10	26	3	11	2	4	0	2	0	971
O6522	0.076	655805	8243283	46	111	285	41	194	36	7	22	2	10	2	4	0	3	0	762
O6523	0.061	655832	8243239	48	83	219	31	149	29	7	20	2	10	1	3	0	2	0	606
O6524	0.094	655748	8243220	46	151	369	51	234	39	8	23	3	10	2	4	0	3	0	944
O6525	0.119	655611	8243079	52	184	463	65	307	50	10	30	3	13	2	5	1	4	1	1188
O6526	0.250	655013	8242769	75	551	1059	125	513	76	16	43	4	17	3	6	1	5	1	2495
O6527	0.105	655125	8242566	52	162	403	56	260	50	10	30	3	14	2	5	1	3	1	1051
O6528	0.089	655446	8242604	44	137	347	48	220	39	7	24	3	11	2	4	0	3	0	891
O6529	0.088	655449	8242692	50	142	340	46	211	35	8	24	3	12	2	4	0	3	0	879
O6530	0.656	655533	8242712	179	1048	2624	372	1750	283	64	156	14	46	6	11	1	5	1	6559
O6531	0.109	655601	8242698	72	143	394	58	282	55	11	39	4	18	3	7	1	4	1	1092
O6532	0.095	655691	8242655	43	151	374	51	232	40	7	24	3	11	2	4	0	3	0	945
O6533	0.148	655143	8242801	67	284	620	77	318	48	10	29	3	13	2	5	1	4	1	1482
O6534	0.138	655216	8242642	66	289	577	67	273	42	9	26	3	13	2	6	1	5	1	1379
O6535	0.107	655234	8243119	60	160	409	57	268	46	9	30	3	14	2	5	1	4	1	1068
O6536	0.129	655080	8242895	70	197	486	69	323	58	13	37	4	18	3	6	1	4	1	1287
O6537	0.467	655062	8242800	74	1105	2085	235	925	122	23	65	6	19	2	5	1	3	1	4670
O6538	0.106	654502	8244494	75	157	397	56	253	48	9	31	3	16	3	6	1	4	1	1060
O6539	0.129	654520	8244485	135	155	426	67	318	69	12	52	6	28	4	11	1	7	1	1294
O6540	0.056	654498	8243994	32	77	206	31	147	29	6	18	2	7	1	2	0	2	0	560
O6541	0.050	654431	8244012	53	68	182	25	110	21	4	15	2	10	2	4	1	3	1	500
O6542	0.070	654338	8243916	41	107	275	38	169	31	6	18	2	9	1	3	0	3	0	704
O6543	0.086	654521	8243704	42	136	341	48	212	36	7	21	2	9	1	3	0	3	0	863
O6544	0.068	654482	8243699	43	102	255	37	169	30	6	19	2	9	1	3	0	2	0	681
O6545	0.118	654427	8243732	51	182	465	66	296	52	9	31	3	12	2	4	0	3	0	1177
O6546	0.061	654427	8243868	32	93	240	33	148	27	5	16	2	7	1	3	0	2	0	609
O6547	0.081	654499	8243866	63	116	298	42	192	38	8	25	3	13	2	5	1	4	1	812
O6548	0.074	654520	8243772	44	111	283	40	180	33	6	21	2	10	1	4	0	3	0	739
O6549	0.080	654580	8243745	50	120	303	43	198	37	7	23	2	11	2	4	1	3	0	804
O6550	0.074	654892	8243002	50	120	287	38	168	31	7	20	2	10	2	4	0	3	0	742
O6551	0.264	654977	8242880	53	585	1195	139	516	70	16	35	3	13	2	4	1	3	0	2636
O6553	0.189	654238	8243786	56	291	751	110	503	88	18	48	4	13	2	4	0	2	0	1890
O6554	0.139	654101	8243771	44	220	558	78	355	61	12	33	3	12	2	4	0	2	0	1386
O6555	0.069	654095	8243877	34	111	269	38	164	29	5	18	2	8	1	3	0	3	0	686

During the mapping campaign undertaken by Antler Gold, 51 rock chip grab samples were taken from in-situ outcrop at the Kesya REE Project. Sample sizes were 1-3 kg and taken to fairly represent the lithology recorded at each sample site.

In addition to the rock chip samples, an extra 15% of QAQC materials (2 x blanks, 2 x each of CRM AMIS0185, AMIS0304, AMIS0356 and 2 x duplicate field samples) were added to the batch of samples dispatched for assaying to comply with QAQC regulations.

All samples were shipped to Namibia and prepared by crushing and milling at Activation Laboratories Ltd (ACTLABS) in Windhoek.

Pulped samples were then exported to ACTLABS in Ancaster, ON, Canada, for Code 8 – REE analysis, which is a lithium metaborate/tetraborate fusion with subsequent analysis by ICP-OES and ICP-MS.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors, B.Sc (Hons)., Exploration Manager of the Company, who is registered Professional Natural Scientist with the (SACNASP) South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 120660) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on the acquisition and exploration of mineral projects in Africa’s Top-Ranked Jurisdictions, with exposure to both gold and REE. Antler’s total license position now comprises 6 projects for a total landholding of approximately 584,347 ha. The Company continues to assess new regional opportunities with the aim of building a risk diversified business model, which allows the company to generate short and long- term income whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

About Prospect Resources Limited (ASX: PSC) (FSE: 5E8)

Prospect Resources Limited (ASX: PSC) (FSE:5E8) is an ASX listed company focused on the exploration and development of mining projects, specifically battery and electrification metals, in Zimbabwe and the broader sub-Saharan African region.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the transactions subject to the Option Agreement and future plans and objectives of Antler and its subsidiary, Antler Exploration in relation to the Project. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the applicable company as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of the transactions contemplated by the Option Agreement. Actual results may differ materially from results suggested in any forward-looking information. Antler assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by Antler with Canadian securities regulators, copies of which are available at www.sedar.com.

For further information, please contact Chris Drysdale, CEO of Antler Gold Inc at +264 81 220 2439 or Daniel Whittaker, Executive Chairman of Antler Gold Inc., at (902) 488-4700.

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May 12, 2023

Austral Gold Obtains Takeover Option at Rawhide Mine
2023-05-08 05:22:00
AGREEMENT HIGHLIGHTS
- Austral Gold’s subsidiary Austral Gold North America Corp (“AGNA”) to provide US$555,000 bridge funding to the Rawhide Mine in Nevada, a fully permitted operation that produces gold and silver through an open pit heap leaching operation.
- AGNA to perform a due diligence on the mine, in which it already owns a 24.74% interest.
- AGNA has an option to take an approximate 99.98% stake in the mine and assume controlling ownership upon completion of due diligence by 29 May 2023.
- Rawhide’s existing financial debt of approximately US$18.5 million to be restructured.
- AGNA has invested a total of US$6.4 million in Rawhide since 2019 as part of its corporate strategy to expand its footprint in North America through equity investments.
Sydney, Australia–(Newsfile Corp. – May 8, 2023) – Established gold producer Austral Gold Limited’s (ASX: AGD) (TSXV: AGLD) (“Austral” or the “Company”) subsidiary, AGNA, has agreed to provide US$555,000 bridge funding to the Rawhide Mine in Nevada, and acquired a takeover option under an agreement with Rawhide Acquisition Holding LLC (“RAH”), the RAH unit owners and the Rawhide lenders (the “Lenders”).

Agreement Overview

AGNA currently owns 24.74% of RAH. RAH is a privately held Delaware limited liability company that owns Rawhide Mining LLC (“Rawhide”), a Nevada limited liability company that owns the Rawhide Mine in the state of Nevada, USA. AGNA has entered into an agreement (the “Agreement”) with Rawhide, RAH, all of the RAH limited partnership unit owners and the Lenders, pursuant to which:
- AGNA has an exclusive period to perform due diligence on RAH and Rawhide during a 21-day period expiring on 29 May, 2023;
- AGNA has agreed to provide Rawhide with bridge funding (“Bridge”) in the amount of US$555,000, for the purpose of helping Rawhide fund its current operations while AGNA performs due diligence;
- AGNA has acquired an option to purchase all of the limited partnership units of the other unit owners, other than management of Rawhide who collectively own 0.15% of RAH, for a total of one hundred dollars; and
- The Lenders have agreed to restructure the existing Rawhide financial debt, in the amount of approximately US$18.5 million, on the following terms (i) up-front payment of US$1.5M cash; (ii) a senior loan of U$S 7.5M with a fixed interest rate of 7.5% per year, payable in 13 equal semi-annual instalments of principal and interest, with the first payment due on 31 December 2023; (iii) the Lenders will keep their guarantees under the existing Loan Agreement; and (iv) Lenders will provide AGNA with a one-year call option, exercisable after 31 December 2024, to cancel Lender’s remaining loan and security for a lump sum payment of US$ 4.5M, while during the same period the Lenders will have a 1-year put option to have the outstanding loan and security precancelled for a lump sum payment of US$3M, with a 6 month prior notice and the amount cancelled on or June 30, 2025 (the “Loan Restructuring“).
The transaction is subject to and conditioned upon: (i) satisfactory Due Diligence by AGNA to review, determine and/or confirm, among other things, the current operational status, that there are no other liabilities than those disclosed in the financial statements of Rawhide (except for those incurred in the ordinary course of business), and current agreements with the insurance company and the State of Nevada; (ii) the execution of definitive agreements and documents (“Definitive Agreements”) in form and substance satisfactory to the parties; (iii) mutually satisfactory amendment of the Loan Agreement and/or any other agreements to implement the Loan Restructuring, as applicable; (iv) obtaining Rawhide Mining and Rawhide’s Management Committee and regulatory authorities, including ASX and TSXV, approvals for closing the transaction.

Key Transaction Terms
- AGNA to provide short term Bridge of US$555,000.
- AGNA acquires each option in consideration of providing the Bridge, with the right to exercise all options for a total of one hundred dollars.
- Exclusivity period to implement the Loan Restructuring during due diligence.
- Break-up fee of US$0.5 million if the Lenders, RAH or Rawhide receive and accept an alternative strategic sale offer within a 30-day period from the expiration of the exclusivity period.
About Rawhide

Rawhide is a fully permitted operation that produces gold and silver through an open pit heap leaching operation. In 2019, Rawhide received a mine expansion permit associated with the Regent open pit. Rawhide is a historical mining operation that started in the early 1900s located in the Walker Lane structural zone, one of the most prolific gold mining districts in the world, and is located 50 miles from Fallon, Nevada, USA. It is surrounded by multiple 1.0 million+ gold oz deposits. Rawhide was formerly operated as a subsidiary of Kennecott Corp. prior to Coral Reef Capital partnering with the Rawhide mine management team to acquire the property from Rio Tinto Plc in 2010.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For more information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
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+61 466 892 307

Gareth Quinn
Media and Investor Relations
Republic PR
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+61 417 711 108

Forward Looking Statements

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as “expects”, “intends”, “plans”, “may”, “could”, “potential”, “should”, “anticipates”, “likely”, “believes” and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include those concerning the proposed transaction and the parties intent to negotiate and enter into definitive agreements and obtain regulatory and stock exchange approval, the results of the proposed due diligence investigation and Austral and AGNA’s desire to proceed with the transaction and the timing for all of these events.

All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, regulatory approval, approval by the current Rawhide lenders, business integration risks; uncertainty of production, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus, uncertainty in the measurement of mineral reserves and resource estimates, Austral’s ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond the Company’s control, the availability of capital to fund all of the Company’s projects and other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. Austral’s forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.

OPERATIONS
- Guanaco and Amancaya mines, Antofagasta Province, Chile (100% interest)
  Open pit and underground.
  2023 Forecast: 34,000-38,000 gold equivalent ounces
- Casposo/Manantiales Mine Complex, San Juan Province, Argentina (100% interest)
  Gold and silver mine currently in care and maintenance. Strategy is to restart profitable mining operations.
EXPLORATION
CHILE ARGENTINA

Paleocene Belt, Chile

Guanaco District

Amancaya District

Las Pampa District

Triassic Choiyoi Belt

Indio Belt

Deseado Massif
EQUITY INVESTMENTS
- Unico Silver Limited, an ASX listed company
- Pampa Metals Corp, a CSE listed company
- Ensign Minerals Inc., private vehicle, Utah, USA
- Rawhide Mine, private vehicle, Fallon, Nevada, USA
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May 8, 2023
CDN MAVERICK TO OPTION NEVASCA PROPERTY TO NOAL AND EQUITY PARTNERSHIP
2023-05-07 21:21:49
CSE: CDN
OTCQB: AXVEF
Frankfurt: 338B

VANCOUVER, BC, May 8, 2023 /CNW/ – CDN Maverick Capital Corp. (“Maverick” or the “Company”) (CSE: CDN) (OTCPINK: AXVEF) (Frankfurt: A117RU) is pleased to announce that the Company has entered into a mining properties purchase agreement (the “Purchase Agreement“), dated effective May 8, 2023, with a subsidiary of NOA Lithium Brines Inc. (TSXV: NOAL) (“NOAL“) pursuant to which NOAL has been granted the right to acquire the Nevasca Property.

The Nevasca Property, located in the Arizaro Salar in the Province of Salta, Argentina, spans over 2,842 hectares and boasts promising geology for lithium exploration and mining in one of the largest underexplored Salars of the Lithium Triangle. The option of the Nevasca Property to NOAL represents a strategic move for Maverick, as it allows the Company to maintain exposure to the asset through an equity position in NOAL. In addition, NOAL boasts a large and diversified portfolio of additional projects, encompassing nearly 100,000 hectares of lithium exploration projects including the Rio Grande Salar and the Arizaro Salar with proven lithium occurrences and lithium resources within Argentina’s most prolific lithium-producing region.

The terms of the Purchase Agreement allow NOAL to acquire the Property in consideration for the following cash payments and share issuances (cash payments and share issuances are in USD):
- $50,000 in cash upon signing
- 40 days (“Effective Date”) after due diligence period: $150,000 of NOAL shares
- 6 months from Effective Date: $150,000 in cash and issuance of $150,000 of NOAL shares
- 12 months from Effective Date: $250,000 in cash and issuance of $250,000 of NOAL shares
- 18 months from Effective Date: $500,000 in cash and issuance of $500,000 of NOAL shares
All share payments owing to Maverick pursuant to the Purchase Agreement will be calculated based upon most recent closing price of NOAL shares on the TSX Venture Exchange immediately prior to issuance, subject to a minimum issue price of $0.30 per share.

A 3% NSR on the Property will be retained by Maverick that can be purchased by NOAL for an additional $1,000,000 in cash or shares, at Maverick’s election, within 24 months from Effective Date.

Within 18 (eighteen) months as from the Effective Date, NOAL assumes the commitment to perform exploration works and investments in the amount of US$500,000 (Five Hundred Thousand United States Dollars).

The Purchase Agreement will enable both companies to leverage each other’s expertise and resources to accelerate exploration efforts and unlock the potential value of their combined assets. CDN will benefit from NOAL’s ongoing exploration activities at the Rio Grande Project and the potential for resource expansion across NOAL’s extensive landholdings in the Arizaro Salar through its equity position in NOAL.

This transaction will strengthen and diversify the Company’s portfolio and enhance the Company’s current cash position. Maverick intends to continue to expand its exposure to lithium exploration by diversifying its asset base and capturing potential upside across multiple projects.

Adam Cegielski, CEO of Maverick, commented, “This transaction is a testament to our commitment to creating shareholder value through innovative growth strategies. By partnering with NOAL, we are maximizing the potential of our assets, gaining exposure to their exploration package and further positioning our Company for long-term success. This transaction exemplifies CDN’s mission to aggressively enhance shareholder value by identifying and developing a diverse strong portfolio of investments and projects within the critical minerals exploration sector.”

The Company is at arms-length from NOAL. No finders’ fees or commissions are payable in connection with the entering into of the Purchase Agreement. Completion of the transaction contemplated by the Purchase Agreement remains subject to the receipt of any required regulatory approvals.

About CDN Maverick Capital Corp:

CDN Maverick Capital Corp. is a Vancouver-based diversified natural resource investment and junior exploration company whose focus is the development of mineral projects. The Company owns a 100% interest in the Nevasca Lithium Project located in the Arizaro Salar in Salta, Argentina, and has more than 1.6M shares of Noram Lithium Corp. (TSX-V: NRM) which is developing the Zeus Lithium Deposit in Clayton Valley Nevada, adjacent to Albemarle’s Silver Peak Lithium mine and production facility. CDN Maverick also has a 100% interest in the Rainbow Canyon Gold Project in the Olinghouse Mining District, in the Washoe County Nevada. The company is actively seeking to expand its ESG friendly exploration, development, and investment asset portfolio in Canada and other prime investing and mining jurisdictions in North and South America.

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Founder, Chairman and Director
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C: 778.999.2159

Adam Cegielski
CEO
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C: 905.510.8890

This news release contains projections and forward – looking information that involve various risks and uncertainties regarding future events. Such forward – looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.

Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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May 7, 2023
Denarius Metals Announces Stock Option Grants

2023-05-03 15:36:43

Toronto, Ontario–(Newsfile Corp. – May 3, 2023) – Denarius Metals Corp. (TSXV: DSLV) (OTCQB: DNRSF) (“Denarius” or “the Company”) announced today that it has granted a total of 4,200,000 stock options to its executive officers, directors and management of the Company, including 750,000 stock options granted to Mr. Serafino Iacono, Executive Chairman and CEO. Each stock option is exercisable at $0.52 per common share until May 3, 2028 with the stock options vesting on the first anniversary of the grant date. The closing price of the Company’s common shares on May 2, 2023, the date prior to the grant of the stock options, was $0.48 per share.

As of the date hereof, including the current stock option grant and recent open market purchases, Mr. Iacono beneficially owns and controls 3,558,528 common shares (representing approximately 5.9% of the Company’s issued and outstanding common shares), 900,000 stock options and 2,819,014 warrants. If Mr. Iacono were to exercise all of his stock options and warrants, assuming no other security holders exercised any convertible securities, Mr. Iacono would beneficially control 7,277,542 common shares, representing approximately 11.4% of the common shares issued and outstanding at that time.

In addition, Aton Ventures Fund Limited (“Aton Ventures”), a private company to which Mr. Iacono provides investment advice/recommendations, owns 5,726,385 common shares (representing approximately 9.5% of the Company’s issued and outstanding common shares) and 7,157,981 warrants. If Aton Ventures were to exercise all of its warrants, assuming no other security holders exercised any convertible securities, Aton Ventures would beneficially control 12,884,366 common shares, representing approximately 19.1% of the common shares issued and outstanding at that time.

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts, with its principal focus on the Lomero Project in Spain. The Company signed a definitive option agreement with Europa Metals Ltd. in November 2022 pursuant to which Europa has granted Denarius Metals two options to acquire up to an 80% ownership interest in the Toral Zn-Pb-Ag Project, Leon Province, Northern Spain. The Company’s 100%-owned Zancudo Project in Colombia provides an opportunity to develop near-term production and cash flow through local contract miners and long-term growth through exploration.

Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated April 21, 2023 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Denarius disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:

Michael Davies
Chief Financial Officer
(416) 360-4653
This email address is being protected from spambots. You need JavaScript enabled to view it.

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May 3, 2023
Angus Gold Completes $6.45 Million Private Placement Including Full Exercise of Overallotment Option

2023-04-27 14:00:22

TORONTO, April 27, 2023 (GLOBE NEWSWIRE) — Angus Gold Inc. (TSX-V: GUS) (“Angus” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement for total gross proceeds of $6,455,000 to the Company (the “Offering”). The Offering was comprised of 1,500,000 hard dollar shares (“Hard Shares”) at a price of $0.72 per Hard Share and of 5,375,000 flow-through shares of the Company (“FT Shares”) at a price of $1.00 per FT Share.

In connection with the Offering, funds managed by Delbrook Capital Advisors Inc. (“Delbrook”), acquired 1,396,000 common shares of the Company (“Common Shares”) and now owns a total of 8,102,300 Common Shares representing 16.5% of the issued and outstanding Common Shares. New Gold Inc. (“New Gold”) exercised its participation right to maintain its pro-rata interest in the Company and purchased 750,000 Common Shares and now owns a total of 4,850,000 Common Shares representing 9.9% of the issued and outstanding Common Shares.

Steve Burleton, Chief Executive Officer of Angus, states: “We are very pleased with this oversubscribed equity financing. In addition to the strong support from existing shareholders, we are also welcoming new institutional shareholders to the Company. The financing will allow us to move forward with an aggressive drilling program that will see two drills following up on the multiple discoveries in the Banded Iron Formation gold zones, expanding the historical gold resource at Dorset and testing new gold targets we have been developing through our regional exploration program. 2023 will be the most active year, to-date, for the Golden Sky project and we are looking forward to unlocking value for our shareholders.”

The gross proceeds of the Offering will be used to fund the Company’s exploration programs at the Golden Sky project in Ontario and for working capital purposes. The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Tax Act (the “Qualifying Expenditures”). The Company will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2023.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (“TSXV”) and the securities regulatory authorities. All securities issued in connection with the Offering are subject to a four-month and one-day hold period.

In addition to Delbrook, certain other insiders, including directors and officers of the Company (together, the “Insiders”) subscribed to the Offering for an aggregate of 680,000 Common Shares, bringing the total insider participation in the Offering to 2,076,000 Common Shares. The participation of the Insiders in the Offering constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a), as the fair market value of the Insiders’ participation is not more than 25% of the Company’s market capitalization.

The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state security laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Angus Gold:

Angus Gold is a Canadian gold exploration company with a 234-square-kilometres land package located in north-central Ontario approximately 50 kilometres west of the town of Wawa and lies between Wesdome Gold Mines’ two producing mines.

ON BEHALF OF THE BOARD OF DIRECTORS
Steve Burleton
Chief Executive Officer and Director

INQUIRIES:
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Company Website: www.angusgold.com

TSXV: GUS | USOTC: ANGVF

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the completion of the Offering on the disclosed terms or at all, the exercise of the over-allotment option for the Offering, receipt of requisite regulatory and stock exchange approvals, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the Offering, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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April 27, 2023
Rome Resources Announces Stock Option Grant

2023-04-27 06:06:02

Vancouver, British Columbia–(Newsfile Corp. – April 27, 2023) – Rome Resources Ltd. (TSXV: RMR) (FSE: 33R) (“Rome” or the “Company“) is pleased to announce that it has granted 500,000 incentive stock options (“Options”) to a director pursuant to its stock option plan. The Options have a three-year term and an exercise price of $0.26 per common share, and vest immediately.

About Rome Resources

Rome Resources Ltd. is a mineral exploration company that has entered into two option agreements to acquire 51% direct and indirect interests in two contiguous properties situated in the Walikale District of the North Kivu Province in eastern DRC, which are collectively referred to as the “Bisie North Tin Project”. Rome intends to fund exploration on the project up to the completion of a definitive feasibility study.

Contacts

Investors / Shareholders
Mark Gasson
President, CEO & Director
P: (604) 687-6140

Media
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Rome Resources Ltd believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rome Resources Ltd disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to United States newswire services or for dissemination in the United States.

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April 27, 2023

E3 Lithium Announces Filing of 2022 Annual Information Form and Option Grant

2023-04-27 00:09:04

CALGARY, AB, April 27, 2023 /CNW/ – E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3” or the “Company,” Alberta’s leading lithium developer and extraction technology innovator, confirms the filing of its Annual Information Form (“AIF”) for the year ended December 31, 2022 on the System for Electronic Analysis and retrieval (“SEDAR”). An electronic copy of the AIF may be obtained on the Company’s website at www.e3lithium.ca or on the Company’s SEDAR profile at www.sedar.com.

Additionally, the Company has granted incentive stock options (“the options”) to purchase a total of 225,000 common shares to Kevin Carroll, Chief Development Officer of the Company, in accordance with the provisions of its stock option plan. The options have an exercise price of $2.59 per share which was the close price on April 10, 2023. The options vest 25% each year over a period of four years with a five-year expiry date.

ON BEHALF OF THE BOARD OF DIRECTORS

Chris Doornbos, President & CEO
E3 Lithium Ltd.

About E3 Lithium

E3 Lithium is a development company with a total of 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources¹ in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax¹. E3 Lithium’s goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended Sept 17, 2021. The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com).

Forward-Looking and Cautionary Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

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April 27, 2023

Nine Mile Continues California Lake and Canoe Landing Lake East Option with First Anniversary Payments

2023-04-25 20:44:00

VANCOUVER, British Columbia, April 25, 2023 (GLOBE NEWSWIRE) — NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces that it has made payments under its option to Purchase 100% of California Lake and Canoe Landing Lake East mineral projects, dated April 25, 2022 (the “Option.”) The Option and payments were previously announced on April 26, 2022.

The Company has issued 333,334 common shares (“Common Shares”) at a deemed price of $0.2025 per share and paid $20,000 to the vendors, in accordance with the Option.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and the new Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

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ON BEHALF OF NINE MILE METALS LTD.

“Patrick J Cruickshank, MBA”
CEO and Director
T: +1.506-804-6117
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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April 25, 2023

Prosper Gold Enters Into Option Agreement to Acquire 100% of Mohave Gold Project, Mohave County, Arizona, USA

2023-04-24 05:04:28

VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) — Prosper Gold Corp. (“Prosper Gold” or the “Company“) (TSXV:PGX) is pleased to announce that Prosper Gold USA LLC, a wholly-owned subsidiary of the Company, has entered into a definitive option agreement (the “Option Agreement”) with DDS Resources LLC and Mohave Mine Partnership LLC (collectively, the “Optionors”), whereby the Optionors have granted the Company the option to acquire a 100% interest in the Mohave Project (the “Property”).

Project Highlights:

Large, robust low-sulphidation epithermal gold-silver system covering a 4 x 1.5 km area
Project is permitted for up to 600 drill sites and up to 27 kilometers of access roads
619 historical drill holes totaling 23,244 metres – shallow holes averaging 37.5 metres depth with many bottoming in gold mineralization
Over 40 abandoned mine workings (adits, shafts and declines)
Large areas of anomalous rock and soil geochemistry and historical mine workings which have not seen any drilling

“The opportunity to acquire the Mohave Gold Project was one we could not pass up,” commented Peter Bernier, CEO. “The exploration potential for high-grade gold on this project is clear and we look forward to drilling the multitude of mineralized zones, many of which have never been drilled. The Mohave Gold Project will complement Prosper Gold’s Golden Sidewalk project in Red Lake allowing for year-round exploration on two highly prospective land packages in low-risk jurisdictions.”

Mohave Gold Project

The Mohave Gold Project has a long history of exploration and small-scale mining dating back to 1865. Gold was discovered at the Dixie Queen Mine (Figure 1) in 1894. The Project is a low-sulphidation epithermal gold-silver prospect considered to be in the advanced exploration stage. The Project comprises 160 contiguous mining claims covering 1,176 hectares in the Mohave County, northwestern Arizona. It is road-accessible with a well-developed network of access roads to historical workings and drill sites. The Project is permitted for construction of up to 600 drill sites and approximately 27 kilometres of access roads.

Exploration to date by historical operators has outlined several mineralized zones through relatively shallow drilling (refer to Table 1) along with additional targets outlined through geochemical and geophysical surveys which have not been drill tested. Extensive alteration and widespread gold mineralization outlines three mineralized trends: the Golden Door, the Klondyke and the Dixie trends. The Dixie trend has seen no drilling to date, despite the presence of highly anomalous rock and soil geochemistry and the presence of numerous historical workings.

Table 1 – Select historical drill intercepts.

Hole ID	From (m)	To (m)	Interval (m)	Gold (gpt)	Prospect
M80R-028	15.3	30.5	15.2	3.97	Klondyke
M87A-117	15.2	25.9	10.7	5.63	Klondyke
M88A-158	7.64	18.74	11.1	4.76	Klondyke
M90R-313	10.7	13.7	3.0	10.3	Klondyke
M81R-035	21.4	29.0	7.6	6.75	Golden Ram
M80R-144	32	47.2	15.2	2.82	Scout
M80R-149	0	35.1	35.1	1.39	Scout
M87A-073	7.6	15.2	7.6	3.9	Golden Door
M87A-083	13.7	18.3	4.6	8.1	Golden Door
M85A-017	3.1	6.1	3.0	8.4	Jim & Jerry
M85A-025A	0	15.2	15.2	2.35	Jim & Jerry
M81R-027	36.6	42.7	6.1	3.0	Epidote Ridge
M89A-244	9.1	13.7	4.6	4.27	Apex

^{* True thicknesses are not known}

The first production in the district was from the Klondyke and North Klondyke mines in 1898, with documented production of approximately 4,500 tons averaging 19.3 gpt gold. The Red Gap mine was discovered in 1904. There is no known record of production at the Red Gap mine, though a one ton “test shipment” from the No. 2 tunnel in 1926 assayed 85.8 gpt gold and 497.7 gpt silver. The Golden Door open pit mine is reported to have produced about 20,000 tons averaging 7.46 gpt gold over a thickness ranging from 0.61 metres to 2.45 metres. This mine was closed during World War II. The Dixie Queen Mine is reported to have produced some 4,000 tons at an average gold grade of 23.3 gpt. Other mines with unknown past production include the Scout, Jim and Jerry, Apex, Middle Dixie and Dixie Gold mines.

Modern exploration, predominantly Reverse Circulation (“RC”) and Rotary Air Blast (“RAB”) with only 9 diamond drill holes, began in 1975 and continued intermittently to 1995. Various geophysical and geochemical surveys have been completed by several operators in recent years, though the last time drilling activities were completed on the Project was 1995. Select historical drilling results, along with mapped geology and soil geochemistry results are illustrated in Figure 2.

Table 2 – Collar information for select historical drill holes (coordinates are in Datum WGS 84, zone 11N).

Hole ID	Easting (m)	Northing (m)	Azi (°)	Dip (°)	Depth (m)	Hole Type	Prospect
M80R-028	723266	3933932	0	-90	48.158	RC	Klondyke
M87A-117	723260	3933934	0	-90	28.346	Air Rotary	Klondyke
M88A-158	723259	3934002	0	-90	18.745	Air Rotary	Klondyke
M90R-313	723474	3934088	0	-90	59.436	RC	Klondyke
M81R-035	723642	3935500	0	-90	45.72	RC	Golden Ram
M80R-144	723286	3935151	0	-90	54.254	RC	Scout
M80R-149	723293	3935146	0	-90	54.254	RC	Scout
M87A-073	722858	3935278	0	-90	18.288	Air Rotary	Golden Door
M87A-083	722884	3935276	0	-90	32.004	Air Rotary	Golden Door
M85A-017	723749	3935203	0	-90	18.288	Air Rotary	Jim & Jerry
M85A-025A	723721	3935142	0	-90	18.288	Air Rotary	Jim & Jerry
M81R-027	723862	3934687	0	-90	53.34	Air Rotary	Epidote Ridge
M89A-244	723411	3934379	0	-90	25.908	Air Rotary	Apex

Key Terms of Option Agreement

The Option Agreement on the Property calls for the Company to pay US$3,350,000 cash (the “Cash Payments”) and for work expenditures totaling US$1,700,000 (the “Expenditures”) over 5 years in order for the Company to earn a 100% interest in the Property (the “Option”). The Company may, in its sole and absolute discretion, accelerate payment of the Cash Payments. In the event that the Company accelerates the Cash Payments in full, the Option will be deemed to be exercised whether or not all the Expenditures have been incurred. Upon full payment of the Cash Payments, the Company will grant a 1.5% net smelter royalty to the Optionors and Desert Ventures Inc. (the “Royalty”).

Details of the Option Agreement will be available on the Company’s SEDAR profile at www.sedar.com.

Qualified Person

The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., Vice-President of Exploration for Prosper Gold and a Qualified Person under National Instrument 43-101. The results contained in this release were completed by previous operators of the Property. Although the Company was not involved in the original work in respect of these results, proper industry data verification procedures appear to have been followed.

For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Per: “Peter Bernier”
Peter Bernier
President & CEO

For further information, please contact:

Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Option Agreement, exploration potential of the Property, the planned exploration of the Property and granting the Royalty are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; the Company’s ability to satisfy conditions precedent under the Option Agreement; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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April 24, 2023

Reyna Silver Amends Terms of Medicine Springs Option Agreement

2023-04-24 03:03:52

VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / April 24, 2023 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) (“Reyna” or the “Company“) is pleased to announce that it has reached an agreement to amend the terms of the option agreement dated August 20, 2017, as amended by agreements dated July 29, 2020, September 28, 2020, July 14, 2021, and November 21, 2022 (collectively, the “Option Agreement“), with Messrs. Stephen Sutherland and Herb Duerr (collectively, the “Optionors“), pursuant to which Reyna has the option to acquire a 100% interest in the Optionors’ Medicine Springs Project located in Nevada, USA (the “Property“). The Option Agreement was previously between the Optionors and Northern Lights Resources Corp. (“NLR“), and Reyna acquired and assumed NLR’s interest in and to the Option Agreement and the underlying Property pursuant to an option interest acquisition agreement dated December 14, 2022 (the “Acquisition Agreement“), between NLR and Reyna. Further details of the Acquisition Agreement are disclosed in the Company’s news releases of December 15, 2022, and January 5, 2023. The amendments to the Option Agreement were effected by way of an amendment dated March 30, 2023 between Reyna and the Optionors (the “Amendment“).

“We are pleased that Herb Duerr and Stephen Sutherland believe in Medicine Springs enough to amend the option agreement terms by reconfiguring the obligations so that more money can go into the ground, and taking some equity in lieu of cash,” said Jorge Ramiro Monroy, CEO of Reyna Silver. “Herb and Stephen have almost 100 years of combined experience and involvement with success stories in Nevada and Arizona – including Alligator Ridge and Sunnyside. We are gratified our focus on high-grade, district-scale projects aligned with their focus on identifying extensive systems with big alteration. This is why both parties look forward to drilling at Medicine Springs in 2023, building upon the reconnaissance drilling in 2022.”

Under the Option Agreement, in order to exercise the option, NLR was required to make cash payments in the aggregate of US$950,000 to the Optionors, issue common shares of NLR to the Optionors having a total aggregate value of US$100,000, make an additional cash payment of US$150,000 to the Optionors in lieu of the issuance of common shares of NLR having an aggregate value of US$150,000 to the Optionors, and make a total aggregate minimum expenditure on the development of the Property of US$2,700,000. NLR was also required to make a payment of US$24,800 to maintain the mineral claims included in the Property.

The Amendment amends these obligations as follows:

	Option Agreement	Amendment
Cash Consideration ($)	US$25,000 within 30 days of approval by the Canadian Stock Exchange US$50,000 on or before December 31, 2020 US$100,000 on or before December 31, 2021 US$150,000 within 30 days of Phase 4 start date US$200,000 within 30 days of Phase 5 start date US$425,000 within 30 days of Phase 6 start date US$150,000 (in lieu of equity consideration) on or before December 31, 2023	US$150,000 mandatory cash payment within 3 days of execution of Amendment (paid on February 28, 2023) US$200,000 mandatory cash payment on or before September 15, 2023 US$400,000 on or before February 1, 2024 US$125,000 on or before February 1, 2025
Equity Consideration ($)	US$50,000 within Phase 2 period US$50,000 on or before December 31, 2021	US$100,000 on or before February 1, 2024 (the “Consideration Shares“)
Minimum Work Commitment on Property ($)	US$950,000 on or before December 31, 2022 US$500,000 within 12 months of Phase 4 start date US$500,000 within 12 months of Phase 5 start date US$750,000 on or before December 31, 2023	Make such additional expenditures on the development of the Property such that the total aggregate expenditures on the Property is not less than US$2,700,000 on or before December 31, 2023
Mineral Claim Fees	US$24,800 on execution of Option Agreement US$25,503 on or before August 1, 2020	Such amount as is required to maintain the mineral claims included in the Property in good standing on or before July 15, 2023

The Amendment and the issuance of the Consideration Shares remain subject to the approval of the TSX Venture Exchange.

On Behalf of the Board of Directors of Reyna Silver Corp.

Jorge Ramiro Monroy
Chief Executive Officer

For Further Information, Please Contact:

Jorge Ramiro Monroy, Chief Executive Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.reynasilver.com

About Reyna Silver Corp.

Reyna Silver Corp. (TSXV: RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.

Reyna’s principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico. Guigui covers the interpreted source area for the Santa Eulalia Carbonate Replacement District (CRD) and Batopilas covers most of Mexico’s historically highest-grade silver system. The Company also has an option to acquire 100% of the Medicine Springs property in Nevada, USA, as well as the early-stage La Durazno and Matilde and La Reyna mineral properties in Mexico.

Cautionary Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to the TSX Venture Exchange’s approval of the [Amendment] and the issuance of the Consideration Shares.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the TSX Venture Exchange will approve of [the Amendment] and the issuance of the Consideration Shares. Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) the failure of the Company to obtain approval of the TSX Venture Exchange to [the Amendment] and the issuance of the Consideration Shares, and (b) unanticipated costs.

Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.

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April 24, 2023

Gold Terra Announces Additional Drilling Results Including 3.06 g/t Gold over 6 Metres on Yellorex North Zone, Con Mine Option Property

2023-04-21 05:05:53

VANCOUVER, BC / ACCESSWIRE / April 21, 2023 / Gold Terra Resource Corp. (TSX-V:YGT; Frankfurt:TX0; OTCQX:YGTFF) (“Gold Terra” or the “Company”) is pleased to announce additional assay results from drill holes GTCM23-043 to 48, drilled on the Yellorex North zone during the Phase 1 winter drilling program on the Con Mine Option (“CMO”) Property in Yellowknife, NWT. The drilling program was designed to expand the Yellorex North gold zone between surface and 300 metres below surface (see February 24, 2023 press release). The CMO property is under option from subsidiaries of Newmont Corporation and is acquirable by the Company upon fulfillment of certain conditions set out in the CMO agreement, as reported in the Company’s news release dated November 22, 2021.

Chairman and CEO, Gerald Panneton, commented, “The drilling results indicate a well-developed gold system in the Yellorex North zone and the expansion of the zone at depth which is open in all directions. The zone will require additional drilling and will be part of our next drill program. All ten completed holes on Yellorex North hit the targeted Campbell Shear and the results are highly encouraging and supporting additional drilling. The Campbell Shear structure is our highest priority target as the Con Mine produced historically more than 5 million ounces of high-grade gold (16 g/t Au). “

Highlights

Alteration, veining, and mineralization suggest a well-developed gold system in each drilled hole with an indication of both an upper zone (in hole GTCM23-045) and a deeper zone (in holes GTCM22-039 and GTCM23-048) of mineralization.

Hole GTCM23-045 intersected: 1.7 g/t Au over 4.34 metres from 172-176.34 metres including 3.96 g/t Au over 1.36 metres from 173.5-174.86 metres. GTCM23-045 showed smoky quartz veining with strong sericite alteration, significant pyrite and needle-like arsenopyrite mineralization, and successfully expanded the shallower portion of Yellorex North zone.

GTCM23-048 intersected 4.31 g/t Au over 2 metres from 383-385 metres and 3.06 g/t Au over 6 metres from 392-398 metres. GTCM23-048 contained abundant quartz veining and exhibited strong mineralization consisting of pyrite, arsenopyrite, stibnite and trace sphalerite. This hole successfully expanded the deeper portion of Yellorex North to depth and shows that the strong mineralization system continues at depth and remains open in three (3) directions.

Holes GTCM23-045 and 048 represent distinct lenses of mineralization within the Campbell Shear at Yellorex North. As it appears that the southern extend of Yellorex North is truncated by the oblique-angled Pud Fault, it is evident that an additional exploration target exists ~300 metres to the south-southeast along the primarily strike-slip fault, where it is postulated that the southern portion of Yellorex North has been off-set to. It means that the zone is open on the other side and will be tested again in the near future. A long section showing 2023 drilling is presented in Figure 1. A cross-section showing holes GTCM23-045 and 048 is shown in Figure 2.

Three holes, GTCM23-043, 046 and 047 intersected zones of anomalous gold mineralization. Hole GTCM23-043 intersected anomalous gold such as 0.51 g/t Au over 9 metres from 256-265 metres and 1.65 g/t Au over 1.0 metre from 277-278 metres indicating the hole represents a narrow gap between the two mineralized horizons within the Campbell Shear. GTCM23-046 and 047 were designed to explore the northern extents of Yellorex North in an area that has seen little historical drilling. Both holes successfully encountered the Campbell Shear and returned 17.5 metres and 20 metres respectively of anomalous low-grade gold. These broad anomalous zones are interpreted to be the marginal, low-grade halos of high-grade zones.

GTCM23-044 was “faulted” and intersected the footwall zone of the Campbell Shear as the hole was targeting the Yellorex North zone nearby the Pud Fault. The upper portion of the Campbell Shear was offset some 300 metres to the east along the Pud Fault.

The Pud Fault is a post-mineralization feature and was intersected as a 15-centimetre-wide fault gouge at 318 metres. As this program has defined high-grade gold adjacent to the Pud Fault, the faulted-offset of the Yellorex North zone nearby to the east has emerged as a strong target for future exploration. This target is notably located in an area that has seen little historical drilling.

In addition, GTCM23-042 intersected 5.3 g/t Au over 6.43 metres and was designed to verify and add depth extension to historical high-grade mineralization encountered in the Yellorex North zone of the Campbell Shear. See March 3, 2023 press release).

Ten near surface drill holes have been completed on Yellorex North. The zone is only 1 kilometer south of existing infrastructure, the C1 shaft, and above the level 2300. It was previously tested only by one hole in 2022, GTCM22-039, (see August 3, 2022 press release) which returned two mineralized zones returning 3.31 g/t Au over 6.00 metres from 306.0 to 312.0 metres and including 5.39 g/t Au over 2.0 metres from 309.00 to 311.00 metres, and 2.18 g/t Au over 5.0 metres from 324.00 metres to 329.00 metres.

Figure 1 – Long section showing 2023 drilling and historic drilling.
Figure 2 – Cross-section showing holes GTCM23-045 and 048
The focus of the winter drilling program is to expand the September 2022 initial Mineral Resource Estimate (“MRE”) (see September 7, 2022 press release) along the Campbell Shear immediately south of the Con Mine. The initial mineral resource estimate from drilling in 2022 is 109,000 Indicated ounces @ 7.55 g/t Au of contained gold and 432,000 Inferred ounces @ 6.74 g/t Au of contained gold between surface and to a depth of 400m below surface along a 2 km corridor. Please see the October 21, 2022 technical report, titled “Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada” with an effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological Services, which can be found on the Company’s website at https://www.goldterracorp.com and on SEDAR at www.sedar.com.

Qualified Persons

Joe Campbell, P. Geo., Senior Technical Advisor for Gold Terra is a Qualified Person within the meaning of NI 43-101 and has reviewed and approved the technical information contained in this news release.

About Gold Terra

The YCG project encompasses 800 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometers of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell Shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option claims immediately south of the past producing Con Mine (1938-2003).

The YCG and CMO property lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometers of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Chairman & CEO

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Mara Strazdins, Manager of Investor Relations

Phone: 1-778-897-1590 | 604-689-1749 ext 102

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information Concerning Estimates of Mineral Resources

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of “Measured Mineral Resources,” “Indicated Mineral Resources,” or “Inferred Mineral Resources” will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

Cautionary Note to United States Investors

The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended (“CIM Standards”). The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments effective February 25, 2019 (the “SEC Modernization Rules”) to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”, which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to the corresponding CIM Standards.

U.S. investors are cautioned that while the foregoing terms are “substantially similar” to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources” under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of “Inferred Mineral Resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.

Cautionary Note Regarding Forward-Looking Information

Certain statements made and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities legislation (“forward-looking information“). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events, conditions or results “will”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear, potentially adding ounces to the Company’s current YCG mineral resource, and the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section in the Company’s most recent MD&A and annual information form available under the Company’s profile at www.sedar.com.

Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

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April 21, 2023
Silver Dollar Resources Signs Option and Exclusivity Agreements with Canasil Resources

2023-04-20 05:35:25

Vancouver, British Columbia–(Newsfile Corp. – April 20, 2023) – Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) (“Silver Dollar” or the “Company”) is pleased to announce the signing of an Option Agreement and Exclusivity Agreement with Canasil Resources Inc. (“Canasil”).

Pursuant to the agreements, Silver Dollar will provide Canasil with a $200,000 non-interest-bearing loan (the “Loan”) in return for a two-month exclusivity period to conduct due diligence on the assets of Canasil (the “Exclusivity Period”) and an option to earn a 100% interest in Canasil’s Nora property (the “Nora Option”).

The purpose of the Exclusivity Period is to give Silver Dollar the opportunity to review Canasil’s assets and consider a corporate merger (the “Transaction”). The Exclusivity Period can be extended for an additional 30 days if requested by Silver Dollar at no cost. Should Silver Dollar decline to propose a Transaction or the parties find the terms of a proposed Transaction unacceptable, then the Exclusivity Period will terminate, and Canasil will have 60 days to repay the Loan. Completion of a proposed Transaction will be subject to the support of key stakeholders, shareholder approval and regulatory approvals.

Canasil owns a 100% interest in the Nora property that is located in the State of Durango, Mexico (the “Property”). Under the terms of the Nora Option, Silver Dollar can earn a 100% interest in the Property by incurring total exploration expenditures of $3,000,000 and making cash payments totalling $375,000 over five years. Upon earning a 100% interest in the Property, Silver Dollar will grant Canasil a 3% net smelter returns royalty (the “Royalty”), with Silver Dollar having the right to buy back 1% of the Royalty for $3,000,000. After granting the Royalty, Silver Dollar will also pay an annual royalty of $25,000 which will be offset against the 1% Royalty buyback.

About the Nora Property

The Property is located approximately 200 kilometres (km) northwest of the City of Durango, with good access and infrastructure. The geological setting is a Tertiary-aged volcanic flow-dome complex. Gold-silver mineralization is hosted within two structurally-controlled epithermal veins, Candy and Nora. Mineralization is typical of that found at many mines in the region, with gold and silver associated with galena, sulfosalt minerals, and lesser pyrite, sphalerite, and chalcopyrite. There is evidence of some historical mining activity on the Candy vein, which is exposed in discontinuous outcrops for over 900 metres. The fault structure hosting the Candy vein has been traced for over 3 km. Samples of vein outcrop and mineral dumps from the Candy vein returned significant gold, silver, copper, zinc and lead values. The second vein, Nora, is found 600 metres northeast of the Candy vein and can be traced for 230 metres with widths of over 9 metres. Surface samples from this vein returned anomalous silver values associated with trace sulphides, with a geochemical signature typical of the higher levels of epithermal vein systems in the region. Drilling programs completed by Canasil in 2020 and 2021 were the first on the Property and consistently returned encouraging intercepts with high gold, silver, and copper values from the Candy vein.

Historical systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and their projected extensions showed elevated silver, base metal (copper, lead, and zinc), and pathfinder (antimony and arsenic) values. The combination of the vein outcrops with large areas of anomalous silver and base metal values in soil samples may indicate additional concealed mineral systems. Major deposits in the region include La Pitarrilla, located 50 km east of the Property.

A follow-up news release will be issued highlighting the target areas and Silver Dollar’s exploration plans.

Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora Property, particularly regarding historical exploration, neighbouring companies, and government geological work.

About Silver Dollar Resources Inc.

Silver Dollar is a mineral exploration company that completed its initial public offering in May 2020 and is fully funded with approximately $5.7 million in the treasury. The Company’s projects are located in two of the most prolific mining jurisdictions in the world. They include the advanced exploration and development stage La Joya Silver Project in the state of Durango, Mexico, and the discovery-stage Pakwash Lake and Longlegged Lake properties in the Red Lake Mining District of Ontario, Canada. The Company has an aggressive growth strategy and is actively reviewing potentially accretive acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.

For additional information, you can download our latest presentation by clicking here and you can follow us on Twitter by clicking here.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
179 – 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements

This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company’s properties, the availability of financing on suitable terms, and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including possible acquisitions, the Company’s options to acquire mineral properties, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals, permits or financing, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, and environmental issues and liabilities.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.

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April 20, 2023
Red Lake Gold Resolves $120 Million Statement of Claim Over 70% Earn-In Option at Whirlwind Jack Gold Project

2023-04-18 10:59:52

Vancouver, British Columbia – TheNewswire – April 18, 2023 – Red Lake Gold Inc. (CSE:RGLD) (“Red Lake Gold” or the “Corporation“) is pleased to report that it has successfully resolved all legal matters relating to the statement of claim filed by Barrick Gold Inc. (“Barrick”) in the Toronto Superior Court of Justice on June 30, 2022 (Court File No: CV-22-00683409-0000)(the “Claim”) and further resolved Barrick’s assertions to an interest in the Whirlwind Jack Gold Project (“Whirlwind Jack”)(see the Corporation’s news release dated July 5, 2022).

Under a termination and mutual release agreement dated April 17, 2023 (the “Agreement”), Red Lake Gold can now confirm its full original project ownership, inclusive of operatorship, and that Barrick holds no interest in Whirlwind Jack. No provision of the original earn-in option agreement dated November 1, 2021 between Red Lake Gold and Barrick survives. Among other terms, neither party made any cash payments towards the other under the Agreement and neither party assumed legal expenses related to the other.

Formal procedural dismissal of the Claim will be filed in the coming weeks, at Barrick’s expense.

Barrick did not perform any ground-based exploration at Whirlwind Jack.

As Red Lake Gold now considers the Claim to be resolved with positive outcome for shareholders, the Corporation does not intend to make any further public statements on the settled matter.

Red Lake Gold is excited about the exploration potential for gold and other commodities at Whirlwind Jack and looks forward to updating its shareholders regarding future plans.

On Behalf of the Board of Directors

Ryan Kalt

Chairman & Chief Executive Officer

T: 604.687.2038

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions, including but not limited to matters and outcomes related to the Claim, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

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April 18, 2023
Dixie Gold Resolves $120 Million Statement of Claim Over 70% Earn-In Option at Red Lake Gold Project

2023-04-18 10:59:52

Vancouver, British Columbia – TheNewswire – April 18, 2023 – Dixie Gold Inc. (TSXV:DG) (“Dixie Gold” or the “Corporation”) is pleased to report that it has successfully resolved all legal matters relating to the statement of claim filed by Barrick Gold Inc. (“Barrick”) in the Toronto Superior Court of Justice on June 30, 2022 (Court File No: CV-22-00683409-0000)(the “Claim”) and further resolved Barrick’s assertions to an interest in the Red Lake Gold Project (the “Red Lake Project”)(see the Corporation’s news release dated July 5, 2022).

Under a termination and mutual release agreement dated April 17, 2023 (the “Agreement”), Dixie Gold can now confirm its full original project ownership, inclusive of operatorship, and that Barrick holds no interest in the Red Lake Project. No provision of the original earn-in option agreement dated November 1, 2021 between Dixie Gold and Barrick survives. Among other terms, neither party made any cash payments towards the other under the Agreement and neither party assumed legal expenses related to the other.

Formal procedural dismissal of the Claim will be filed in the coming weeks, at Barrick’s expense.

As Dixie Gold now considers the Claim to be resolved with positive outcome for shareholders, the Corporation does not intend to make any further public statements on the settled matter.

Dixie Gold is excited about the exploration potential for gold and other commodities at its Red Lake Project and looks forward to updating its shareholders regarding future plans.

About Dixie Gold Inc.

Dixie Gold Inc. (TSXV: DG) is a publicly traded exploration company holding a portfolio of exploration projects in Canada.

The Company has 25,737,188 common shares issued, with no warrants outstanding.

For more information, please visit www.dixiegold.ca

Signed,

Ryan Kalt

Chief Executive Officer

Dixie Gold Inc.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions, including but not limited to matters and outcomes related to the Claim, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Info:

Ryan Kalt

Chief Executive Officer

Dixie Gold Inc.

T: 604.687.2038

E. This email address is being protected from spambots. You need JavaScript enabled to view it.

W. www.dixiegold.ca

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April 18, 2023
Delta Accelerates Option Agreement to Acquire 100% Interest in the Delta-1 Project in Thunder Bay, Ontario
2023-04-18 04:03:00
Kingston, Ontario–(Newsfile Corp. – April 18, 2023) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to announce that it has accelerated the completion of an Option Agreement dated October 02, 2019 to acquire a 100% undivided interest in the Delta-1 Gold property located 50 km west of Thunder-Bay, Ontario.

Delta paid $150,000 to the optionors, therefore accelerating the completion of the acquisition in the 245 claims that were subject to an Option Agreement dated October 02, 2019. The claims are subject to a 1.75% Net Smelter Return Royalty to the Optionor. Delta has the right to buy back 0.75% of the Royalty for the sum of $500,000 until October 02, 2026. Thereafter, Delta will have the right to purchase the remaining 1% Royalty for $4,000,000 at any time.

Delta-1 Project Update

At the end of March 2023, Delta completed 13 drill holes for a total of 3,506 metres at the Delta-1 project. The drilling tested a 600 metres extension of the gold zone towards the east, extending the total strike length of the mineralized zone to 1.5 kilometres. Assays are pending from seven (7) of these drill holes and results should be available within a few weeks. Delta is currently planning an additional 5000 metre drill campaign and expects to announce a resumption of drilling shortly.

The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone.

Mines and Money Mining Conference – London, UK

Delta is pleased to announce that Andre Tessier, President and CEO, and Frank Candido, Chairman, will be participating at Mines and Money London Connect Conference. Please meet us on April 25 and 26, 2023 for Europe’s premier mining investment event. The event is being held at County Hall in London, UK.

About Delta Resources Limited

Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
- DELTA-1 covers 58.3 square kilometres located 50 kilometres west of Thunder Bay, Ontario where a gold mineralized zone 950 metres long was outlined through drilling in a multi-kilometre-scale intense alteration halo. Best grades to date include a drill intercept of 14.8 g/t Au over 11.9 metres, within a broader interval of 5.92 g/t Au over 31 m. The zone is open in all directions.
- DELTA-2 VMS and DELTA-2 GOLD covers 194 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

Andre C. Tessier
President, CEO and Director
www.deltaresources.ca

We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.

For Further Information:

Delta Resources Limited

Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
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or
Andre Tessier, CEO and President
Tel: 613-328-1581
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Cautionary Note Regarding Forward-Looking Information

Some statements contained in this news release are “forward-looking information” within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.
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April 18, 2023
Andean Precious Metals Announces RSU and Option Grants
2023-04-14 14:33:48
(All amounts are in Canadian dollars unless otherwise stated)

Toronto, Ontario–(Newsfile Corp. – April 14, 2023) – Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) (“Andean” or the “Company”) announced that on April 14, 2023, it granted restricted share units (“RSUs”) and stock options (“Options”) to certain executive officers, employees and consultants of the Company (each, a “Plan Participant” and collectively “Plan Participants”), pursuant to Andean’s Omnibus Long-Term Incentive Plan (the “Plan”).

RSUs

The board of directors approved the grant of an aggregate of 2,157,216 RSUs as follows:
- 168,267 RSUs are being granted to certain employees in recognition of past performance and shall vest as follows: (i) two-thirds on the date that is 12 months from the date of grant, and (ii) one-third on the date that is 24 months from the date of grant. Upon vesting, each RSU will be settled by the issuance of one common share of Andean or, if mutually agreed by the Plan Participant and Andean, by a cash payment.
- 600,000 RSUs are being granted and shall vest on the achievement of certain stock price milestones: (i) 50% shall vest if the 5-day volume weighted average price (“VWAP”) of the Company’s shares meets or exceeds $1.50 on or before October 14, 2024; and (ii) 50% of the RSUs shall vest if the 5-day VWAP of the Company’s shares meets or exceeds $2.25 on or before April 14, 2026. Upon vesting, the RSUs will be settled in cash.
- 1,388,949 RSUs are being granted and shall vest based on time and the satisfaction of the Company’s and the Plan Participant’s objectives. Such RSUs shall vest as follows: (i) one-third on the date that is 12 months from the date of grant, (ii) one-third on the date that is 24 months from the date of grant, and (iii) one-third on the date that is 36 months from the date of grant. Upon vesting, each RSU will be settled by the issuance of one common share of Andean or, if mutually agreed by the Plan Participant and Andean, by a cash payment.
Options

In addition, the board of directors approved the grant of an aggregate of 73,636 Options with an exercise price of $0.88 (based on 5-day VWAP) to certain Plan Participants that will vest based on time and the satisfaction of certain of the Company’s and the Participant’s objectives and shall vest as follows: (i) one-third on the date that is 12 months from the date of grant, (ii) one-third that is 24 months from the date of grant, and (iii) one-third that is 36 months from the date of grant.

About Andean Precious Metals Corp.

Andean is a growth-focused precious metals producer that owns and operates the San Bartolomé project located in the department of Potosí, Bolivia. San Bartolomé has been operating continuously since 2008, producing an average of 5 million ounces of silver equivalent per year. The Company is seeking accretive growth opportunities in Bolivia and the wider Americas. Andean is committed to fostering safe, sustainable, and responsible operations.

For more information, please contact:

Trish Moran
VP Investor Relations
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T: +1 416 564 4290

Anna Speyer
NATIONAL Capital Markets
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T: +1 416 848 1376

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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April 14, 2023

ValOre Metals Files Technical Report for Angilak Property, Nunavut Territory, Canada and Applies for Option and Warrant Repricing

2023-04-12 16:59:20

VANCOUVER, British Columbia, April 12, 2023 (GLOBE NEWSWIRE) — ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the filing a technical report, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), for the Company’s Angilak Property (“Angilak”), titled “NI 43-101 Technical Report for the Angilak Property, Kivalliq Region, Nunavut, Canada” (the “Technical Report”) and dated March 31, 2023 (with an effective date of March 1, 2023).

The Technical Report was prepared and compiled for ValOre Metals Corp. and Labrador Uranium by independent representatives of APEX Geoscience Ltd., Michael B. Dufresne, and Philo Schoeman, each of whom is a “qualified person” (within the meaning of NI 43-101). The Technical Report supersedes the prior technical report on the Project dated March 1, 2013, and was completed as a part of the March 14, 2023 Definitive Agreement to sell 100% interest in Angilak to Labrador Uranium. CLICK HERE for ValOre’s news release dated March 14, 2023.

The Technical Report can be found on SEDAR (www.sedar.com).

Option and Warrant Repricing

ValOre has submitted an application for TSX Venture Exchange approval for the repricing of 11,550,000 options and 11,700,000 warrants granted and up to 8,750,000 warrants to be issued upon closing of the current ValOre private placement. See schedule of the proposed number of options and warrants and respective exercise prices and expiration dates below.

Options proposed for repricing

Number of Options	Current Exercise Price	Expiry Date
3,525,000	$0.25	September 6, 2024
1,425,000	$0.30	August 10, 2023
6,600,000	$0.45	December 9, 2024

Warrants proposed for repricing

Number of Warrants	Current Exercise Price	Expiry Date
3,525,000	$0.25	September 6, 2024
1,575,000	$0.30	August 10, 2023
6,600,000	$0.45	December 9, 2024
8,750,000	$0.30	Will be dated upon close of current private placement

The repricing of the options and warrants would only be completed subsequent to the closing of ValOre’s previously announced disposition of the Angilak Property to Labrador Uranium Inc. (CSE: LUR). In order to reflect the new value of ValOre’s equity after completion of the transaction, the Company intends to re-price the exercise price of the options and warrants to equal the ten (10) day volume-weighted average price of the Company’s common shares on the TSX-V commencing on the first full trading day after the closing of the disposition of Angilak.

The Company intends to seek the requisite disinterested shareholder approval for the option and warrant repricing required under Exchange policies at its upcoming shareholder meeting to be held on May 12, 2023. There is no assurance that ValOre will receive Exchange and / or disinterested shareholder approval to reprice the options and warrants. Certain options and warrants are held by insiders and related parties, and as such, would constitute a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. However, such actions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the options and / or warrants, exceeds 25 per cent of the company’s market capitalization.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

The Pedra Branca Platinum Group Elements (PGE) Project comprises 52 exploration licenses covering a total area of 56,852 hectares (140,484 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t 2PGE+Au (CLICK HERE for news release dated March 24, 2022). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

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April 12, 2023

Payment Date	Cash	Convertible Shares¹
November 24^th, 2023	$250,000	$500,000
May 24^th, 2024	$500,000	$750,000
Total	$1,000,000	$1,500,000

CHILE	ARGENTINA
Paleocene Belt, Chile Guanaco District Amancaya District Las Pampa District	Triassic Choiyoi Belt Indio Belt Deseado Massif