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MARITIME Announces High Grade Results at Whisker Valley

Toronto, Ontario–(Newsfile Corp. – February 25, 2019) – Maritime Resources Corp. (TSXV: MAE) (Maritime” or the “Company”) is pleased to provide an update on its recent exploration program at the Whisker Valley gold project, a new exploration target located 10 kilometres north of the Company’s high-grade Hammerdown gold project in the Baie Verte Mining District, Newfoundland & Labrador.

Whisker Valley Assay Interval Highlights

Maritime’s initial 650m diamond drill program at Whisker Valley consisted of 4 wide-spaced holes completed in late 2018. The holes targeted a series of high-grade gold, sulphide-bearing quartz veins (Gary, Ben and Jackson) that were trenched and sampled over a 250 metre strike length (see press release dated January 22nd, 2018).

Highlights from the 2018 exploration program include (Refer to Table 1 for complete results):

  • 16.04 grams per tonne (“gpt”) gold (“Au”) over 0.97 m, including 36.6 gpt Au over 0.40 m in drill hole  WH-18-03 (Ben vein)
  • 24.06 gpt Au over 0.33 m in drill hole WH-18-04 (Gary vein)
  • 15.18 gpt Au over 0.29 m in drill hole WH-18-02 (Jackson vein)
  • 3.16 gpt Au over 3.19 m in drill hole WH-18-01 (Gary vein)

Maritime President & CEO, Garett Macdonald adds: “Our initial drilling program at Whisker Valley was very successful in identifying high-grade gold contained in sulphide mineralization below each of the three identified veins. Early indications are that the mineralization at Whisker Valley shares many similarities to our nearby Hammerdown deposit. Maritime will continue to evaluate Whisker’s potential over the coming months as it represents an exciting new target for exploration.”

Geological Description

Mineralization at Whisker Valley consists of a series of narrow high-grade sulfide-bearing quartz veins dipping between 60-70 degrees that occur along the contacts of a series of east-west trending mafic and felsic dykes intruding the host Burlington granodiorite. Alteration zones characterized by moderate to strong hematization, sericitization and chloritization form a 2-3m wide envelope around the mineralized quartz veins. Re-healed brecciated zones proximal to the veins are indicative of a brittle structural environment. Localized fault offsets of the veins have been identified in the Ben, Jackson and Gary trenches.

The gold-bearing quartz veins at Whisker Valley are epigenetic and of similar style and orientation to that seen at Hammerdown. Maritime is currently evaluating the historical exploration work to help inform the next phase of work at Whisker Valley.

In early 2018, a detailed Induced Polarization (IP) survey was completed by Maritime, which recognized the sulphide-bearing gold veins (see press release dated September 26, 2018). This survey extended the potential strike length of the vein system from the 250 m length exposed in the trenches to about 500 metres. The IP anomalies associated with the veins remain strong at the 50 m depth, the vertical limit of detection for this survey.

The drill hole traces are shown on the IP Anomaly map (Figure 1.), indicating the position of the three known vein systems at Whisker, shown as red lineaments in IP Anomaly “A”. The drill holes are also plotted on the Whisker Valley Trench map (Figure 2) and the major intersections are shown, along with some of the 2017 trench channel sample results (see press release dated February 13th, 2018).

Assay Results

Each diamond drill hole encountered a number of gold bearing veins with higher grade assay intervals detailed in Table 1 below. Significantly, drilling on each of the Jackson, Ben and Gary veins encountered high-grade gold zones. This included 15.2 gpt over 0.29 m in the Jackson vein (WH-18-02), 16.0 gpt over 0.97 m in the Ben vein which included a higher-grade interval of 36.6 gpt over 0.40 m (WH-18-03). Drilling on the Gary vein identified a high-grade interval of 24.1 gpt over 0.33 m (WH-18-04) and a separate, thicker interval grading 3.2 gpt over 3.19 m (WH-18-01) indicating that wider gold zones are also present at Whisker Valley.

Table 1. Significant Drill Hole Intersections – Whisker Valley December 2018 Drill Program

Vein/Zone Drill Hole From (m) To (m) Width (m) Au (gpt)
Gary WH-18-01 83.50 84.49 0.99 1.69
WH-18-01 93.45 96.64 3.19 3.16
WH-18-01 98.30 98.50 0.20 2.65
Jackson WH-18-02 82.80 83.60 0.80 4.08
WH-18-02 85.41 85.70 0.29 15.18
Ben WH-18-03 32.07 32.19 0.12 3.05
WH-18-03 33.89 34.09 0.20 1.52
WH-18-03 45.10 46.07 0.97 16.04
Including 45.67 46.07 0.40 36.61
Gary WH-18-04 42.30 42.55 0.25 5.54
WH-18-04 73.37 73.70 0.33 24.06

Next Steps

This first phase of diamond drilling at Whisker has returned highly encouraging results and was successful in identifying high-grade gold mineralization to vertical depths of between 50 to 100 metres. Additional drilling at Whisker will target the full extent of the 500 meter long IP Anomaly “A” and test other portions of the vein system. Some drill testing of IP Anomalies “B, C & D” is intended where gold soil geochemical anomalies are coincident. Maritime is currently evaluating these results and is planning for a follow up drill program in the Spring of 2019.

Analytical Procedures

All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (“EAL”) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL bears no relationship to Maritime Resources. Samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

Qualified Persons

Exploration activities are administered on site by the Company’s Manager of Exploration, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Bernard. H. Kahlert, P.Eng. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release.

About Maritime Resources Corp.

Maritime Resources holds a 100% interest in the Green Bay Property, including the former Hammerdown gold mine, located near the Baie Verte Mining District and Springdale, Newfoundland and Labrador. The Green Bay Property hosts a resource estimates on two deposits, the Hammerdown and the Orion deposits. Hammerdown contains measured and indicated resources of 925,670 tonnes grading 10.6 gpt for 315,535 ounces of gold and inferred resources of 1,557,000 tonnes grading 7.53 gpt for 377,000 ounces of gold. The Orion deposit contains measured and indicated resources of 1,096,500 tonnes grading 4.47 gpt for 157,600 ounces of gold and inferred resources of 1,288,000 tonnes grading 5.44 gpt for 225,300 ounces.

CIM definition standards were followed for the resource estimate. The resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids. A cut-off grade of 3.0 gpt gold over 1.2 meters was used for reporting resources with capping of gold grades at 125 gpt at Hammerdown and 50 gpt at Orion. A specific gravity of 2.84 was applied.

For additional information relating to the Hammerdown gold project, refer to the NI 43-101 technical report entitled “Pre-Feasibility Study Technical Report, Green Bay Property” with an effective date of March 2, 2017, which is available on the Company’s profile at www.sedar.com.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

On Behalf of the Board
MARITIME RESOURCES CORP.

Toronto Office
1900-110 Yonge St., Toronto, ON M5C 1T4

For further information, please contact:
Garett Macdonald, President & CEO
(416) 365-5321
info@maritimegold.com
www.maritimeresourcescorp.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied, uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied, estimates regarding timing of future capital expenditures and costs towards profitable commercial operations, estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward- looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.

Figure 1. Drill Hole Location Plan – Phase 1 Diamond Drill Program

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Figure 2. Whisker Valley 2017 Trench Sampling

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Precious Metals

GOLDMONEY The return to a gold exchange standard

This article makes the obvious point that a return to a gold standard is the only way nations can contain the interest cost of servicing debt, given the alternative is inflationist policies that can only lead to far higher interest rates and currency destruction. The topic is timely, given the self-harm of American economic and geopolitical policies, which are already leading America into a cyclical slump. Meanwhile, American fears of Asian domination of global economic, monetary and political outcomes have come true. The upcoming credit crisis is likely to kill off the welfare state model in the West by destroying their unbacked paper currencies, while China, Russia and their Asian allies have the means to prosper.

The fragility of state finances

In my last Goldmoney article I explained why the monetary policies of inflationist economists and policy makers would end up destroying fiat currencies. The destruction will come from ordinary people, who are forced by law to use the state’s money for settling their day-to-day transactions. Ordinary people, each one a trinity of production, consumption and saving, will eventually wake up to the fraud of monetary inflation and discard their government’s medium of exchange as intrinsically worthless.
They always have, eventually. This has been proved by experience and should be uncontroversial. For the issuer of a currency, the risk of this happening heightens when credit markets become destabilised and confidence in the full faith and credit, which is the only backing a fiat currency has, begins to be questioned either by its users or foreigners or both. And when it does, a currency starts to rapidly lose purchasing power and the whole interest rate structure moves higher.
The state’s finances are then ruined, because by that time the state will have accumulated a lethal combination of existing unrepayable debt and escalating welfare liabilities. Today, most governments, including the US, are already ensnared in this debt trap, only the public has yet to realise the consequences and the planners are not about to tell them. The difficulty for nearly all governments is the deterioration in their finances will eventually wipe out their currencies unless a solution is found.
There is a solution that if taken allows the state to survive. It could be modelled on Steve Hanke’s (of John Hopkins University) preferred solution of a currency board, that when strictly observed removes the state’s ability to create money out of thin air. He recommends this solution to currency debasement and the evils that come with it for Venezuela and the like, linking a distressed emerging market currency to the dollar. But here we are considering stabilising the dollar itself and all the other currencies linked to it. The currency board in this case can only be linked to gold, which has always been the peoples’ money, free of issuer risk. In former times this was the basis of a gold exchange standard.
Professor Hanke’s currency board is a rule-based system designed to achieve the same thing. Once the system is in place, every currency unit subsequently put into public circulation by the monetary authority must be physically backed by a defined weight of gold bullion. This was the method of the gold exchange standard adopted by the Bank of England under the terms of the Bank Charter Act of 1844. A modern currency board, consisting of digitised currency, effectively works the same way.
A currency board system is not the best mechanism whereby currency is made exchangeable for gold. Its weakness is it relies on the state fulfilling its obligations, so it would be better to use gold directly, either in physical or digitised form. America reneged on its gold exchange standard in 1933/34, when it first banned gold ownership and then devalued the dollar. That was simply theft by the state from its citizens. Therefore, other safeguards for a gold exchange standard must be in place.
A return to a credible gold exchange standard will then put a cap on interest rates and therefore government borrowing costs. Instead of nominal rates of 10% going on 20% and beyond, a gold exchange standard will probably cap long-term government borrowing rates in a two to five per cent range. It also allows businesses with viable investment plans to progress as well. Not only is it an obvious solution, but it is similar to that adopted in the UK following the Napoleonic wars.
Britain had government debt levels in 1815 greater than that of all advanced nations today relative to the size of her economy, with the single exception of Japan. She introduced the gold sovereign coin in 1816, comprised of 0.2354 ounces of gold, as circulating money with a face value of one pound. Over the following nine decades, not only did she pay down her government debt from over 200% of GDP to about 30%, but her economy became the most advanced and wealthy in the world. This was achieved with sound money, whose purchasing power rose significantly over those nine decades, while the quality of life for everyone improved. A sovereign was still one pound, only it bought much more.
Ordinary people were encouraged to work, spend and save. They aspired to make their families better off. The vast majority succeeded, and for those few unfortunates who fell by the wayside, charitable institutions were set up by successful philanthropists to provide both housing and employment. It was never the function of the state to support them. It would be too much to claim that it was a perfect world, or indeed that everyone behaved as gentlefolk with the best of Victorian values, but the difference between the successful laissez-faire economy in Britain with its relatively minor faults compared with the bureaucratic socialism that succeeded it is stark.
The key is in the creation and preservation of personal wealth, contrasting with socialist redistribution and wealth destruction, which has steadily undermined formerly successful economies. The future is coalescing towards an inflationary collapse for all Western governments, the manner of which is described in more detail in the following section. For prescient politicians, it creates the opportunity to reverse out of socialism, because the silent majority, which just wants commercial stability in preference to state handouts, if properly led will support a move away from destructive socialism. It is not a simple task, because all advice that a politician receives today is predicated on the creed of inflationism and socialist imperatives.

Why and how an inflationary collapse occurs

Monetarists are fully aware that if a government increases the quantity of money in circulation, its purchasing power declines. Their theory is based on the days when gold was money and describes the effect of imports and exports of monetary gold on the general price level.
Pure monetarists appear to assume the same is basically true of fiat currencies, unbacked by gold. But there is a fundamental difference. When gold is used as money for settling cross-border trade, an arbitrage takes place, correcting price differentials. When prices are generally low in one country, that country would achieve sales of commodities and goods in other countries where prices were higher. Gold then flows to the lower price centre, raising its prices towards those of other countries. With unbacked national currencies, this does not happen.
Instead, national currencies earned through cross-border trade are usually sold in the foreign exchanges, and the determinant of trade flows is no longer an arbitrage based on a common form of money. The pure link between money and trade has gone, and whether foreigners retain or sell currency earned by exports depends mostly on their confidence in it. That is a matter for speculation, not trade.
Domestic users of state-issued currency are divorced from these issues, because foreign currencies do not circulate domestically as a medium of exchange. Instead of being a form of money accepted beyond national boundaries, as gold was formerly, there is no value anchor for domestic use. For this reason, a national currency’s purchasing power becomes a matter of trust, and it is that trust that risks being undermined in a credit crisis. The less trustworthy a government, the more rapidly a currency is in risk of decline.
This is why monetarism, which was based on gold as ubiquitous money, is no longer the sole determinant of currency values. It is true that an increase in the quantity of circulating money devalues the existing stock, but if the population as a whole is prepared to increase its preference for money, usually expressed as a savings ratio, there need be no detrimental effect on its purchasing power.
With fiat currencies we enter a world where statistics reflect the quantity of money, and never the confidence people have in it. Additionally, we should observe that statistics can tell you everything and nothing, but never the truth. It is possible for an economy to collapse, but statistically appear healthy as the following example illustrates.
Imagine, for a moment, that modern statisticians and their methods existed at the time of the Weimar Republic. Government finances were covered by approximately ten per cent taxes and ninety per cent monetary inflation. It was a government whose finances were run on the lines recommended by today’s modern monetary theorists.[i]
There can be no doubt the low level of taxation was an encouragement to business and permitted the redeployment of earnings for investment. A falling exchange rate delivers excess profits for export businesses as well. Interest rates were attractive relative to the rate of price inflation, and the economy, statistically anyway, was expanding rapidly.
This was certainly true measured in nominal GDP, the basic measure of economic activity today. Official prices, which are always the latest gathered and indexed, lag monetary debasement by at least a month, possibly two or even three. To this we must also mention governments always under-record price inflation, which is the natural consequence of earlier debasement. Therefore, even after an official price deflator is applied to nominal GDP, “real” GDP growth in Germany between 1918 and early-1923 would be judged by today’s government economists to be booming.
Interestingly, Joseph Stiglitz and a raft of left-leaning economists and politicians believed Hugo Chavez’s socialist policies were successful in 2007, when statistics revealed a similar interpretation for Venezuela’s inflation-ridden economy. However, instead of Germany being deemed to be in an economic boom, in 1920 economists in the classical and Austrian traditions saw it for what it was. Even Keynes wrote about it in his Tract on Monetary Reform, published coincidentally in late-1923 when the papiermark finally collapsed.
Germany’s inflation may have been a statistical success, but it concealed crippling wealth destruction through the transfer of wealth and wages from private individuals to the state through monetary debasement. As Lenin is reputed to have said, “The way to crush the bourgeoisie is to grind them down between the millstones of taxation and inflation.”
In Germany, inflationary financing started before the First World War to finance a build-up of armaments. At the outbreak of war, gold convertibility was suspended, and the unbacked papiermarkbegan its inflationary drift. Exploiting the facility to issue valueless pieces of paper as currency and for the people to circulate them as legal tender became the principal source of government funds.
This trick worked until approximately May 1923. By then, the purchasing power of the mark had fallen consistently at a relatively even pace. It then took only seven months to lose all its purchasing power, when the public collectively realised what was happening, and manically dumped their marks for anything. It was the katastrophenhausse, or crack-up boom, the end of life for a state’s unbacked currency.
It was the pattern firmly established in all fiat currency collapses, which, besides the currencies in existence today, has happened to all of them throughout the history of post-barter trade, without any known exception. It is the familiar route along which the dollar and other paper currencies are travelling today. Now that we are entering a statistical slowdown in most major economies, Weimar-style financing is set to return to centre-stage. The fate for unbacked state currencies, unless somehow averted, will be the same.
The lesson from Weimar and today’s monetary inflation is that the period before the public cottons on to it can be prolonged. In Germany it was 1914-1923, followed by a swift seven-month collapse. Today it is from 1971 and still counting. But the final collapse could be as rapid as Germany’s between May and November 1923.
Doubtless, we will see rising price inflation later this year, but that statistic will continue to be suppressed. With the gap between the effect of accelerating monetary inflation and the official rate of price inflation widening, we could see for a brief period the statistical recovery in GDP that so badly misled Professor Stiglitz and others observing Venezuela’s economy twelve years ago.

A gold standard alone is insufficient

A major problem for governments when price inflation begins to rise is the notional cost of borrowing, because markets alive to the decline in the currency’s purchasing power will drive interest rates higher, despite official attempts to suppress them. So far, the problem has been successfully covered up by central banks rigging government debt markets, and by government statisticians masking the true rate of price inflation through statistical trickery. In future, efforts to keep a lid on reality will presumably intensify as a core feature of monetary and economic policy. In light of another wave of monetary debasement, the question then arises whether markets will permit this market rigging to continue. If not, the purchasing power of unbacked currencies will be visibly undermined by the erosion of public confidence in them.
We cannot know this outcome for sure until it is well on the way. The Lehman credit crisis led to a global explosion in the quantity of money as central banks worked in tandem to rescue the banks and the entire financial world. That injection still circulates in the global blood-stream. A second globally-coordinated monetary debasement is just starting, notably with China leading the way. A realistic assumption must be that this time the purchasing power of state currencies will be the victim of a severe monetary overdose.
This being the case, there is bound to be an upward adjustment in nominal interest rates forced on central banks by the markets. Government financing becomes overtly inflationary, embarking on a modern equivalent of the papiermark route. How else do you describe accelerated quantitative easing?
A loss of confidence in currencies is always reflected in the prices of gold and silver, which by then should be heading considerably higher. Crypto-currencies could compound the problem by becoming an alternative for people no longer content to retain bank deposits.
Governments and their central banks will be at a fork in the road. One direction towards monetary stability is rough, tough, suspension-breaking, but leads to a better place. The other towards accelerating monetary debasement is smoother, more familiar, but just out of sight leads to a cliff-edge of monetary destruction.
Which road will your government take?
Western governments are poorly equipped to make this decision. There are a few people in the political establishment who might understand the choice, but they will have to deliberately put the clock back, and reverse government policy away from socialism and state regulation towards free markets and sound money. They will be fighting the neo-Keynesian economic establishment, the inflationists who form the overwhelming majority of experts and advisers. These neo-Keynesians populate the central banks and government treasury departments almost to the exclusion of all other economic theorists. Spending ministers and secretaries of state will have to be told to reduce their power-bases, which goes against their personal ambitions and political instincts.
It will take an extraordinary feat of leadership to succeed.
In favour of a brave statesman will be the free-market instincts of the silent majority. It is only at times of crisis that a statesman can muster this support. In a different context, Churchill in 1940 comes to mind. The public will not know the solution, but with the right leadership they can be led along the path to economic and monetary salvation. The currency will have to be stabilised by making it convertible into gold bullion, and government spending will have to be slashed, by as much as a quarter or a third in most advanced economies. This means enacting legislation cancelling government responsibilities, something that could require a state of emergency. The message to the electorate must be the government owes you nothing. And so that you can look after yourself, the government must encourage individuals to accumulate personal wealth by removing taxation from savings.
Obviously, the most socialist welfare states will face the greatest challenge. There will be extreme tension between financial reality and entrenched interests. There can be no doubt that their currencies are most likely to fail.
The Eurozone poses a particular challenge, with one currency circulating between nineteen member states. Conventional opinion is that all the troubles visited on the PIGS (Portugal, Italy, Greece and Spain) are due to an inflexible currency. Here, there is likely to be a split, with Germany and perhaps a northern faction gravitating towards the protection of a gold standard, while the PIGS will press for more interest rate suppression and infinite supplies of easy money from the ECB.

The US is a pivot of disaster

The US has a different but more worrying problem. It refuses to accept its decline as the dominant super-power, retreating into trade protection and autarky. Consequently, the US Government is taking destructive decisions. Since President Trump was elected, he accelerated inflationary financing late in the credit cycle in the belief it would lead to greater tax income in due course. He has also replayed the Smoot-Hawley Tariff Act of 1930, in the belief that trade protectionism somehow makes America great again (MAGA). Instead, it has crashed global trade, just as it did in the 1930s. MAGA is a fateful combination of tax cuts and trade protectionism. It is a curious form of self-harm, which backfires badly on American consumers and corporations. And it does not help foster good relations with America’s creditors, who have allowed America to live beyond her means for decades.
Foreigners now own dollars in enormous amounts, for which interpret they are America’s reluctant bankers. They are now beginning to be net sellers as a consequence of a dollar glut in their hands, combined with America’s clumsy geopolitical manoeuvrings. TIC data for December showed foreigners sold a net $91.4bn[ii] – the largest monthly outflow during Trump’s presidency, and this only a few months after everyone believed foreigners were buying yet more dollars to service their own debts.
While ignoring its dependency on foreign finance, America is trying to strangle China’s economic and technical development, but that horse has already bolted. Washington surely knows the jig is up, and that the US, Japan and Britain are merely islands on the periphery of a vitalised Eurasian powerhouse. We were all warned this would happen in one form or another by Halford Mackinder over a hundred years ago.[iii] America, it appears, is prepared to destroy herself rather than see Mackinder’s prophecy come true.
Consequently, the whole world is being thrown into a trade-induced slump, and the American government is central to the problem. We can expect its economy, along with all the others, to decline significantly in the coming months. It will be an encouragement for yet more inflationism. The monetary expansion which is sure to follow is set to lead to an acceleration in the decline in the dollar’s purchasing power, as foreigners turn from dollar bankers to dollar sellers. This will lead to an increase in the value of time-preference set by markets, and unless the Fed counters this increase sufficiently by raising its rates, the dollar will simply slide.
Under current circumstances, the 1980-81 Volcker solution of raising interest rates to 20% to stabilise the currency does not appear to be available. Furthermore, to reverse the Nixon shock of 1971 and reinstate gold backing for the dollar as a means of limiting the rise in interest rates is simply not in the establishment’s DNA. America, which is very much the guilty party in destroying its own Bretton Woods monetary arrangements, will find it very difficult to change its tack with such economic cluelessness at the top.

The SCO bloc[iv]

Things are very different in Asia. The eight members of the Shanghai Cooperation Organisation, together with those seeking to join, represent roughly half the world’s population. It is led by gold-friendly China and Russia. A further two billion people can be said to be directly affected by the way the SCO develops, including the populous nations of South-East Asia, the Middle East, and Sub-Saharan Africa. That leaves America’s questionable sphere of influence reduced to roughly one and a half billion souls out of a global population of seven. It is proof of Halford Mackinder’s foresight.
China and Russia still have significant infrastructure plans, which will stimulate Eurasian economic activity for at least the next decade, perhaps two. If the formerly advanced national economies slump, of course Asia will be adversely affected, but not as much as even China-watchers fear. The upcoming credit crisis is likely to mainly affect America, UK, Western Europe and their military and economic allies. The SCO bloc could escape relatively lightly, if it takes the right avoiding action.
The threat to the SCO’s future is mainly from its current monetary policies, with China in particular using credit expansion to manage the economy. She has sought to control the consequences of domestic monetary policy through strict exchange controls, a strategy which has so far broadly succeeded.
The growing possibility of a dollar collapse will call for a radical change in China’s monetary policy. We know the direction this new policy will take from the actions of Russia, China and increasingly those of other SCO members, and that is to somehow incorporate gold into their paper monies. Furthermore, they are capable of doing it and making it stick.
While it is clear to us that China and Russia understand the importance of gold as true money, it is not clear whether they have a credible plan for its introduction into their monetary systems. The Russians seem to have a good grasp of the issues. China had a good grasp, but many of her economic advisors are now Western-trained in neo-Keynesian inflationary beliefs. Therefore, China is not wholly immune to the faults that are likely to destroy the dollar and other Western currencies. But the central message in China’s successful cornering of the physical gold market is a switch will be made to sound money when it is strategically sensible, despite the neo-Keynesians in it ranks.
Almost none of the SCO nations have significant welfare commitments to their populations. It is therefore possible for them to contain government spending in an economic downturn. Not only can Russia and China introduce a gold exchange standard and make it stick, but fellow SCO members and those nations tied to it can either introduce their own gold exchange standards, or alternatively use gold-backed roubles and yuan to anchor their currencies.
The economic and monetary direction taken by the SCO in the coming years could turn out to be relatively successful, at least compared with the difficulties faced by the welfare states. Such an outcome would be immensely positive for humanity as a whole and be a lifeline for those of us deluded into inflation-funded socialism. You never know, it might even force spendthrift Western governments to reform their ways and return to sound money policies.
The effect on the price of gold should be obvious. It is said that foreign students in Berlin in 1923 were able to buy houses with the spare change from their allowances, sent to them by their parents, usually in dollars or pounds. Dollars at that time were as good as gold. Today, a currency board or gold exchange standard would have to be fixed at a rate significantly higher than current fiat-currency prices. Gold is the ultimate protection from theft by currency debasement.

Categories
Precious Metals

SPROTT 2019 Top 10 List

Authored by Trey Reik, Senior Portfolio Manager, Sprott Asset Management USA, Inc.
During 2018, we started to sound a bit like a broken record. We felt the Fed’s dual policy agenda of simultaneous rate hikes and balance sheet reduction was too aggressive in the context of a global economy bloated with debt and addled far too long by salves of quantitative easing (QE) and zero interest rate policies (ZIRP). We even questioned whether the Keynesian academics at the Fed fully appreciated the direct and measurable impacts of QT on global money supply.
All the way through December’s unanimous decision by the Federal Open Market Committee (FOMC) to hike fed funds for the fourth time in 2018, our concerns gained very little traction in consensus circles. Because we have remained confident in our analysis, we found the second half of 2018 to be a frustrating investment environment.

Powell’s Pivot: The Fed’s Policy Reversal

How quickly things can change. In the four weeks following the December FOMC rate hike, the Fed executed one of its sharpest policy U-turns in memory. Indeed, the Fed’s tonal shift has been so profound, it is difficult to square recent comments from Fed Governors and Regional Bank Presidents with their stated positions just a few weeks prior. What could possibly account for such a dramatic about-face from such a characteristically deliberative body? Is the explanation as simple as the 19.6% decline in the S&P 500 Index (S&P 500)1 between Chairman Powell’s “long way from neutral” comment on 10/3/18 and Secretary Mnuchin’s convening of the President’s Working Group on Financial Markets on Christmas Eve?
In our experience, the contemporary Fed is always hyper vigilant about signs of financial stress with perceived potential to evolve into debt deflation. To us, S&P 500 air pockets are but a symptom of a far more troublesome underlying condition: insufficient credit creation to sustain inflated paper claims. Once equities complete their current Pavlovian bounce, consensus will need to confront the more sobering implications of the Fed’s policy reversal. The Fed is far too tight and has already tripped the switch on long overdue debt rationalization.
Of course, this is precisely the juncture for which we have long prepared.

Gold Coiling for Spirited Advance

Similar to early 2016, when global financial markets were destabilized by the Fed’s initial 12/16/15 rate hike, the gold price responded quickly to market fallout from Chairman Powell’s early October overreach, and has remained in steady uptrend ever since. Importantly, gold’s advance has not been derailed by the S&P 500’s 18.1% bounce from Christmas Eve through 2/15/19. To us, gold’s performance clearly signals Fed policy error, and we believe spot gold is coiling for spirited advance as global central banks pivot back toward easing. For gold investors, this is the mix of real-deal fundamentals on which spectacular gains are based.
Given the seminal nature of catalysts now in play for precious metals, we felt the timing appropriate for a comprehensive review of factors driving the gold price. In this report, we have compiled our Top 10 List of fundamentals supporting a portfolio allocation to gold in 2019. Because our gold investment thesis rests on epic global imbalances, our first few sections review underpinnings of our long-term gold thesis.

#1. Gold has been the Best Performing Global Asset for 18 Years

We often marvel at investor apathy towards gold’s investment merits. Especially in institutional circles, gold is generally viewed as an archaic asset offering negligible portfolio utility. To us, it is remarkable that gold could remain such an institutional outcast after posting the single best performance of any global asset for eighteen years running. Since 2000, not only has bullion outperformed traditional investment assets in cumulative total return, but gold’s ongoing bull market has also proved to be highly consistent in its annual progression. As shown in the rightmost column of Figure 1, the average of gold’s annual performance in nine prominent currencies has been positive in 16 of the past 18 years.
Figure 1: Annual Performance of Spot Gold in Prominent Global Currencies (2001-2018)
Performance of Spot Gold in Prominent Global Currencies
Source: Bloomberg.
Given gold’s fringe standing in much of the investment world, it is interesting to note that gold bullion’s cumulative performance since 2000 has trounced the S&P 500. As shown in Figure 2, gold’s cumulative gain from 12/31/00 through 2/15/19 totaled 385.42%, versus a 110.23% advance in the S&P 500 price level, and a 201.15% gain in S&P 500 total return.
Figure 2: Spot Gold2 vs. S&P 5001 (Price and Total Return Indices) (12/29/00-2/15/19)
Gold vs. S&P 500
Source: Bloomberg.
(Note to Reader: Items 2-9 have been condensed. The full 28-page Gold Report can be found here.)

#2. Paper Claims have Decoupled Completely from Productive Output

Synopsis: Greenspan, Bernanke and Yellen Feds have facilitated trillions of dollars of credit creation atop a fairly consistent GDP denominator. Why is debt-to-GDP analysis important and what does it have to do with gold’s portfolio merits? While timing is uncertain, it is inevitable that the U.S. financial system will eventually rebalance to the degree that GDP can productively support total debt levels. There are only two possible routes for the U.S. debt burden to be recalibrated to underlying GDP: default or debasement. Because gold can neither default nor be debased, it is an ideal portfolio component until such time as the U.S. financial system rebalances.

#3. Central Banks are Admitting Tightening is No Longer Possible

Synopsis: Since the Fed’s about-face on rates, the biggest riddle in financial markets is what could possibly have served as the underlying trigger. Was it the S&P 500 swoon, pressure from President Trump or some signal of financial stress not yet publically disseminated? We suspect it was a combination of all three. Whatever the true mix of catalysts, the message has been received, not only by the Fed, but by all global central banks, which have discarded in unison their collective resolve for policy tightening.

#4. The Return of Negative Interest Rates

Synopsis: In unison, global central banks are swinging quickly and hard back towards an easing posture. The world is quickly refocusing on the likelihood and utility of negative interest rates. The global total of negative yielding sovereign bonds has exploded 56% from $5.733 trillion on 10/3/18 to $8.944 trillion on 2/15/19. Already within $1 trillion of its September 2017 high, how large will the ultimate supply of negative-yielding sovereigns become in the unfolding cycle? While just one of many factors influencing the gold price, correlations confirm that gold is taking notice of the global pivot to negative rates.

#5. Fed Credibility Under Siege

Synopsis: While we recognize U.S. Fed power borders on the divine, we have always found the proposition that 19 individuals, no matter how capable and well-supported, might possibly price the world’s reserve currency more efficiently than free markets to be a fairly absurd notion. Sidestepping our perceptions of Fed Governors and Regional Bank Presidents, both individually and as a deliberative body, we have detected since early 2018 distinct erosion in the Fed’s factual credibility.

#6. Deteriorating U.S. Fiscal Position

Synopsis: One of the least kept secrets in global financial markets is the deteriorating fiscal position of the United States. Everyone knows the Trump Administration’s Office of Management and Budget (OMB) now forecasts $1 trillion-plus budget deficits in fiscal 2019, 2020 and 2021. Everyone knows OMB assumptions for GDP growth in those years are likely a bit optimistic (3.2%, 3.1% and 3.0%). And everyone knows post-tax-cut federal receipts are already lagging advertised projections.

#7. Gold Versus U.S. Dollar as Strategic Reserve

Synopsis: Central bank demand for gold soared to a multi-decade high in 2018, rising 74% YOY – the highest level of CB net purchases since the dissolution of Bretton Woods (1968-1973). There is no question that President Trump’s penchant for sanctions has energized longstanding rancor towards the dollar-standard system. As recently as 2000, 72.7% of global foreign-exchange (FX) reserves were denominated in U.S. dollars. By year-end 2018, the U.S. dollar had shrunk to 61.9%. We believe that the declining use of dollar-denominated assets by global central banks has less to do with direct supply/demand impacts in currency markets than with the symbolic impact on the U.S. dollar’s hegemonic status.

#8. Global Policy Uncertainty

Synopsis: Since 2016, the twin shocks of Brexit and the Trump Presidency have bookended near continuous political turmoil in global markets. Investors have become inured to the daily twists and turns of President Trump’s seemingly erratic decision-making and Prime Minister May’s Sisyphean negotiations with both the EU and her own Parliament. Indeed, investors’ increasingly thick skin to political headline risk may be leading to underestimation of potential black swans forming on the horizon.

#9. Dormant Volatility

Synopsis: Important components of our 2019 gold investment thesis are the lingering imbalances from eight years of QE (quantitative easing) and ZIRP (zero-interest-rate-policy). Artificially depressed interest rates always distort time preferences and foster malinvestment. In the instance of the post-GFC (Great Financial Crisis) Fed, these imbalances have become epic in size and scope. At Sprott, we adhere to the theory that volatility generally signals change. We believe isolated outbreaks of volatility during 2018 served as early signposts of profound change in financial markets (the unwinding of eight years of volatility-suppressing QE and ZIRP). What is being vastly underestimated by investor consensus is the stored force of volatility suppression during these past eight years.

#10. Gold as Non-Correlating Portfolio Asset

In documenting an objective record of gold’s portfolio utility, one logically begins with gold’s traditional profile as safe-harbor asset. It goes without saying that gold’s safe-haven reputation accrues from bullion’s established history of relative outperformance during periods of financial stress. As shown in Figure 18, gold has done a masterful job of insulating portfolio capital from sharp declines in U.S. equities during the past three decades of financial crises.
Figure 18: S&P 500 Index versus Spot Gold During “Crisis” Periods (1987-Present)
Gold Provides Proven Portfolio Protection
Source: World Gold Council. Dates used: Black Monday: 9/1987-11/1987; LTCM: 8/1998; Dot-Com: 3/2000-3/2001; September 11: 9/2001; 2002 Recession: 3/2002-7/2002; Great Recession: 10/2007-2/2009; Sovereign Debt Crisis I: 1/2010-6/2010; Sovereign Debt Crisis II: 2/2011-10/2011; Greek Default: 6/2015-9/2015.
Institutional focus on non-correlating assets has directed trillions-of-dollars of investment capital towards hedge funds and specialized investment partnerships in disciplines such as real estate, private equity and venture capital. A more recent trend, however, has been mounting investor backlash against elevated fees charged by alternative managers in the context of mediocre investment returns (not to mention onerous liquidity and lockup provisions). In short, a marquee consideration for today’s pension and endowment stewards has become whether the fees, lockups and obfuscation of alternative investments are truly worth their while.
Even more challenging to the industry status quo, gold bullion has rivaled the performance of alternative asset indices while simultaneously displaying far lower correlation to these vehicles than either stocks or bonds. As shown in Figure 23, the correlation between prominent alternative asset indices and the S&P 500 Index has averaged 80% over the decade through 2018. By way of comparison, the 10-year correlation between these same indices and spot gold has averaged just 9%. At an 80% correlation-rate with U.S. equities, high-priced and unwieldy alternative vehicles seem hardly worth their freight.
Figure 23: Correlations between Alternative Asset Indices and S&P 500 Index, U.S. Treasuries and Spot Gold (Monthly Data Trailing 10-years through 2018)
Gold Correlation to other Assets
Source: World Gold Council.
We thank you for your diligence in reviewing our fundamentals supporting a portfolio allocation to gold in 2019. We expect gold’s 2019 performance to more than justify the effort.
Download Report PDF – Short Version (7 pages)
Download Report PDF – Long Version (28 pages)
Trey Reik
Senior Portfolio Manager
Sprott Asset Management USA, Inc
203.656.2400

1 S&P 500® Index represents 505 stocks issued by 500 large companies with market capitalizations of at least $6.1 billion. This Index is viewed as a leading indicator of U.S. equities and a reflection of the performance of the large-cap universe. The SPX Index represents price only, and SPXT Index represents total return with dividends reinvested.
2 Spot gold is measured by the Bloomberg GOLDS Comdty sub-index.
Important Disclosure
This content is intended solely for the use of Sprott Asset Management USA Inc. for use with investors and interested parties. Investments, commentary and statements are unique and may not be reflective of investments and commentary in other strategies managed by Sprott Asset Management USA, Inc., Sprott Asset Management LP, Sprott Inc., or any other Sprott entity or affiliate. Opinions expressed in this presentation are those of the presenter and may vary widely from opinions of other Sprott affiliated Portfolio Managers or investment professionals.
This content may not be reproduced in any form, or referred to in any other publication, without acknowledgment that it was produced by Sprott Asset Management LP and a reference to www.sprott.com. The opinions, estimates and projections (“information”) contained within this content are solely those of Sprott Asset Management LP (“SAM LP”) and are subject to change without notice. SAM LP makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, SAM LP assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. SAM LP is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Please contact your own personal advisor on your particular circumstances. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Sprott Asset Management LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell. SAM LP and/or its affiliates may collectively beneficially own/control 1% or more of any class of the equity securities of the issuers mentioned in this report. SAM LP and/or its affiliates may hold short position in any class of the equity securities of the issuers mentioned in this report. During the preceding 12 months, SAM LP and/or its affiliates may have received remuneration other than normal course investment advisory or trade execution services from the issuers mentioned in this report.
SAM LP is the investment manager to the Sprott Physical Bullion Trusts (the “Trusts”). Important information about the Trusts, including the investment objectives and strategies, purchase options, applicable management fees, and expenses, is contained in the prospectus. Please read the document carefully before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Trusts.
The risks associated with investing in a Trust depend on the securities and assets in which the Trust invests, based upon the Trust’s particular objectives. There is no assurance that any Trust will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time with market conditions. There is no guarantee that the full amount of your original investment in a Trust will be returned to you. The Trusts are not insured by the Canada Deposit Insurance Corporation or any other government deposit insurer. Please read a Trust’s prospectus before investing.

The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada or the United States should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.

The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on the specific circumstances before taking any action.

Categories
Junior Mining

JAYANT BHANDARI The Future of America

Keras Resources (KRS), etc.

The frog in slowly boiling water fails to recognize the changes happening and eventually gets boiled. The end result of all democracies is communism. It is merely that this is a slow process of degradation—with many reversals on the way. The slowness also creates moral fogginess. Eventually a society must wake up to a thoroughly indoctrinated society, a kind similar to Huxley’s “Brave New World.” It eventually, must go to the next phase, that of Orwell’s “1984.”
In the US of 1950s, Alexandria Ocasio-Cortez would have been seen as a stand-up comedian. She is, unfortunately, a rising political star.
As time has passed, I have come to see Trump as a real leader. Moreover, he has made me seriously think about what makes someone intellectually superior. Perhaps those who operate out of instincts based on experience are better than those who have reached their conclusions using detailed reasoning, with the former displaying a more complex understanding of life.



On investments…
Last week, Cory Fleck and I discussed about several companies. The talk is linked here.
Keep track of Cory’s fabulous website for a lot information on mining and commodities.
Finally, next week at PDAC I will be speaking on why East Asia is the future of humanity.
Warm regards,

Jayant Bhandari

Associate: Rajni Bala

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

Categories
Exclusive Interviews Precious Metals

(VIDEO) NOVO RESOURCES Company’s Quest to Become an Established Gold Producer in Australia


Dr. Quinton Hennigh the President and Director of Novo Resources (TSX: NVO | OTCQX: NSRPF) sits down with Maurice Jackson of Proven and Probable to discuss the companies road to production. Current and prospective shareholders will be introduced to the thesis and unique value proposition that Novo Resources provides to the market. We shall address a number of fronts from expanding the project portfolio from 7,000 sq km to 12,000 sq km, bulk sample results, mechanical rock sorting with TOMRA, and DTC Eligibility for U.S. investors just to name a few. Dr. Hennigh shall provide a thorough comprehensive update on each project in the Novo portfolio.

VIDEO

AUDIO

TRANSCRIPT

Company’s Quest to Become an Established Gold Producer in Australia 
Contributed Opinion 

Source: Maurice Jackson for Streetwise Reports  (2/23/19): https://www.streetwisereports.com/article/2019/02/23/companys-quest-to-become-an-established-gold-producer-in-australia.html

Maurice JacksonDr. Quinton Hennigh, chairman and president of Novo Resources, sits down with Maurice Jackson of Proven and Probable to discuss how the road to production looks.

Maurice Jackson: Joining us for a conversation today is Dr. Quinton Hennigh, the president and chairman of Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX), which is focused on “A New Paradigm in Gold Exploration and Investing.” Dr. Hennigh, welcome to the show.
Quinton Hennigh: Thank you, Maurice.
Maurice Jackson: Last time we spoke, Novo Resources accomplished a major milestone and that was the inclusion into the GDXJ. Since then Novo Resources has been extremely busy on a number of fronts from expanding the project portfolio, providing bulk sample results, mechanical rock sorting and DTC Eligibility, just to name a few. But before we go into greater detail, Dr. Hennigh, for someone new to the story, who is Novo Resources?
Quinton Hennigh: Novo Resources is Canada listed company that is focused on exploring in Australia. I founded the company roughly nine years ago, and it was explicitly to explore for a certain type of gold deposit in northwest Australia in a region called the Pilbara, which is just in from the Indian Ocean along the northern coast. Our projects are close to two cities, Port Hedland and Karratha.

They’re major cities that give access to the interior where there’s a lot of active iron ore mining in the region. The Pilbara has had a long-standing reputation, over 50 years, for their iron mines around Newman and Tom Price. Coincidently, within this same region Novo recognized the potential for gold early on in actually in the same strata, believe it or not, as the iron ore sequence.
Novo had a hypothesis that the Pilbara was once connected with the Kaapvaal Craton in South Africa. Both of those cratons are very old rocks, they’re over three billion years old, they share a lot of geologic similarities, including the strata that’s been deposited on each block. In addition, we identified the stratigraphy can be correlated from one side of the ocean to the other.
In South Africa, as many people know, there are vast deposits of gold in conglomerates in a basin called the Witwatersrand Basin. These gold deposits have been mined since around 1886 when they were first discovered; they produced something like 35% of all the gold produced on earth, around 1.7 billion ounces. The Witwatersrand Basin is a remarkable deposit; it’s basically the Saudi Arabia of gold.
The logical conclusion for us was, if deposits like that are present in South Africa, maybe over here in the Pilbara Craton there are similar deposits in conglomerates and of similar age, that have yet been discovered. Therefore, we came to Australia on that premise. We first structured deals with a gentleman named Mark Creasy, a well-known prospector in Australia, and those deals were largely centered over in the eastern part of the Pilbara region.
The Pilbara region is quite vast from one side to the other, covering over six hundred kilometers, and from the coast up here down to Paraburdoo is something like 250 or 300 kilometers. This is an enormous target area. Our first exploration ever was at Beatons Creek.

In 2011, drilled up a small resource at Beatons Creek, but what we learned is that the conglomerate units were quite continuous, and the gold is indeed there. The gold is a coarser grain than the Witwatersrand, but it is indeed present and appears to be economic. During our time at Beatons Creek we also conducted a bit of exploration at Marble Bar.
Since that time, we have focused efforts more to the northwest and acquired this vast land package by Karratha. This was based on a discovery roughly two-and-a-half years ago of gold being found by prospectors in areas like Comet Well and Purdy’s Reward, as well as others around the marsh and the basin, including Egina and some other select locals.
The gold occurrences had been known by the locals for many years. When the news got out in late 2016, we strategically assembled a land package, including Comet Well and Egina. Novo staked a tremendous amount of ground, which is 100% owned by us. In addition, we also conducted a joint-venture agreement with Artemis Resource.
Maurice Jackson: Dr. Hennigh, you’ve already introduced us to the project portfolio, but introduce us in particular to the value proposition we have before us.
Quinton Hennigh: The conglomerate gold systems in our project portfolio are different gold deposits than most people are used to seeing. Our conglomerates are flat-sheet-like, and continuous over large areas. We’ve latched onto three systems in particular that we’re focused on right now, which are Beatons CreekComet Well and Purdy’s Reward, where we are actively exploring now.
In 2018, we assembled the land package at Egina, and we’re conducting advanced exploration there now including bulk sampling.
For current and prospective shareholders I believe it best to become familiar with our trajectory for each project, as they are separate and unique. At Beatons Creek we’ve now undertaken a couple rounds of drilling over the past few years and also large-scale sampling, so this would be trench sampling as well as bulk sampling, and our current resource stands at somewhere around 670,000 ounces Measured, Indicated and Inferred. We are looking to grow that and are working to get a resource put together at Beatons Creek north of 1 million ounces in the near future.
http://novoresources.com/_gallery/album-1/lg/laminated_quartz_pyrite_clast_in_core.jpg?v=0.557
Not only that, we’ve done a lot of work like test mining and other things to demonstrate the economics and continuity of this system. We are looking to advance our Beatons Creek project towards monetization over the coming year. Beatons Creek is our most advanced, it’s certainly a robust project. What you see there at Beatons Creek, you see conglomerate horizons, in some places it’s stacked six high, so we have a conglomerate bed with a bit of intervening material, another conglomerate bed, and so forth.
http://novoresources.com/_gallery/album-1/lg/selectively_mined_conglomerate_horizon.jpg?v=0.557
At Beatons Creek we have a robust deposit, easily accessible form surface. Those familiar with coal mines in West Virginia would identify these as tabletop mines. That’s the kind of setting we have at Beatons Creek, so it’s a really interesting deposit from that aspect, and the most exiting aspect is that Beatons Creek may be very inexpensive from a production standpoint. The gold is coarse and is easily recoverable; gravity recovery captures a lot but you know cyanide captures the rest so we expect very, very good recoveries out of that deposit in particular.
At Comet Well and Purdy’s Reward, we first evaluated the system, because it is a very coarse gold system, this is not your average gold deposit.
http://www.novoresources.com/_resources/images/comet-wells-img-3.jpg
The gold particles are often tenths of a gram up to multi-gram even tens of grams, and they’re distributed through the conglomerate somewhat randomly. Therefore, one can’t just walk up, grab a rock chip sample and expect to know through fire assay what’s in this rock. We’ve had to do some very hard yards in terms of bulk sampling and other means to begin to evaluate the grain here.
What we’ve shown at Comet Well and the Purdy’s Reward joint venture with Artemis is that the continuity appears to be good over several kilometers. We’ve done a lot of core drilling for geology and stepped out into the basin. Presently, we have enough data between the core drilling, three-dimensional modeling, as well as the grade data that we have from the bulk samples, to put together a mineralization report.
Map showing Novo’s 100% controlled mineral holdings, Novo-Artemis farm-in/joint venture holdings and Comet Well consolidated holdings in the Karratha region.
This is a big step for Novo. All of our tenements are currently exploration licenses. In order to advance a project towards a mining stage, we have to convert exploration licenses to mining licenses in Australia, and to do that we need a couple of things. One, we need a mineralization report, in this case we’re not necessarily going to produce a resource per se, we’ll demonstrate that we have a potentially economic body of rock here, through the data that we’ve collected that I just mentioned.
Novo Resources will submit a mineralization report within the next few weeks. The other aspect that’s needed is an agreement with the Aboriginal community, this would be the Ngarluma Community. The Ngarluma Community basically covers most of this project area here. We’ve been in negotiations with them, and developed a good relationship with the Ngarlumas, over the past year and a half.
We need to strike what’s called a “Native Title Agreement” that allows us rights to go mining, as well the Ngarlumas have commercial rights, such as royalty, as part of this project. But these are things that also have to be worked out for granting a mining lease.
We anticipate taking Comet Well and Purdy’s Reward through a development trajectory, probably first through trial mining. In fact, we might do a certain amount of trial mining this year. That will provide us more supporting data for developing a larger scale mine. But we are definitely moving Comet Well and Purdy’s Reward forward in a trajectory towards making a producing asset.
Novo Resources Tenement Holdings
Revisiting the map, one can see that Comet Well and Purdy’s Reward are really just a small component of a much larger land package. As I alluded to earlier, within the conglomerate horizons, people have found nuggets weathering out of these conglomerates over many kilometers through this region. We have a lot of greenfields work to do along strike (gold line).
http://www.novoresources.com/_resources/images/Egina_model.jpg
We also have some very interesting new ground at Egina that we’ve recently assembled. At Egina the conglomerates have weathered away over time. They used to cover a significant portion in the Pilbara. But as they have weathered away and receded back, they’ve left the gold that was in them behind across a terrace, or flat country through here in the Pilbara. If one drives across this country, it is absolutely flat as a pancake, very similar to West Texas.
If one were to look in either direction, it’s like a pool table. But the flat surface throughout this region has what is called a lag gravel horizon on it. The lag gravel horizon is about one to two meters thick. Novo was able to demonstrate last year through our trial bulk sampling at Egina that it contains gold and it’s fairly coarse-grain gold; we recovered something like 108 grams of gold out of a hundred cubic meters of bulk sample that we collected.
That’s pretty remarkable! A lot of alluvial deposits are less than 0.3 grams, and the grades we’re seeing at Egina are very enticing. Our hypothesis is that this terrace, of which we own about 400 sq km, could be a sizeable gold project in its own right.
Egina is basically another very large target we have. It is earlier stage, but the nice thing about Egina is that it’s soft rock, gravels at surface. Novo can advance this in a fairly orderly fashion.
We control 100% (of the blue on the map) at Egina. Thus, we are able to get out there and do a lot of test mining and stuff like that that we can’t quite undertake presently at Comet Well at the moment. So Egina is definitely going to be a focus for us this year. We’re going to tackle that terrace gravel, see what kind of economics that might have, including the size and potential that we might have.
Therefore, we are going to do sampling not only in the mining lease but hopefully in some more extensive areas to demonstrate the hypothesis that this region could hold a vast gold deposit could be true.
Maurice Jackson: Dr. Hennigh, allow be to interject here. This land package you have here, it looks quite massive, how many square kilometers are we looking at here?
Quinton Hennigh: Our land package is around 12,000 square kilometers at present.
Maurice Jackson: Let me ask you this, sir. I know Novo Resources has undergone a tedious and methodical process in attempting to figure out grade and tonnage. In the spring of 2018 the company released the first bulk-sample results from Comet Well, how have those been coming along?
Quinton Hennigh: The bulk samples from Comet Well that we released in May were the first two that we completed. To get these samples through the lab was a big exercise. It required several renditions of crushing and experimenting and assaying different streams. We also were battling a bit of wet weather down in Perth last year; it took a long time but we did get a pretty comprehensive set of assays out in late October that demonstrated the grade of these conglomerate horizons.
What we’ve identified are two conglomerate horizons at Comet Well and Purdy’s Reward. The lower one of which is say 2or 3 meters thick, the grades range from about a 1 to 6 grams, and it sits right on the basement, so it’s basically the lowermost bed of rock in this bigger sequence.
Twelve to fifteen meters above first horizon is a second horizon. We call it the Upper Cannonball conglomerate, the Upper Cannonball conglomerate is about 1 to 2 meters thick, and again the grades in that bed are in a range of 1 to 3, 4 grams, somewhere in that range. And it’s very continuous along strike; we can see good continuity from one trench to the other over three-and-a-half, four kilometers right now. We feel very compelled that it’s demonstrating similar continuity to the beds we see at Beatons Creek.
For those who have followed Novo Resources for the year are familiar with the challenges we had at Beatons Creek. Specifically, we had to develop sampling protocols to deal with the coarse grade, assay protocols that were unusual; it took some time to develop. But now, Beatons Creek is basically getting close to mine.
Comet Well and Purdy’s Reward area are going along the same trajectory as Beatons Creek. We’ve had to cut our teeth with different styles of bulk sampling and assaying but we’ve now got things under control. We are also experimenting with somewhat unconventional techniques of recovering the gold.
Novo has done test work with TOMRA, for example; this was starting in late last year in November. The results that came out are fantastic! We think there is potential to crush up the conglomerate, screen it, of course, but put it through an ore sorting machine, and actually let the ore sorter pick rock with the gold particles.
You know the downside of coarse gold is assaying. It’s a real challenge, but the upside is that the metallurgy might be very favorable for us. Novo is very excited about that ore sorter possibility.
Maurice Jackson: Dr. Hennigh, the following may be a bit premature to address at the moment but the two most frequent questions I receive from prospective shareholders are, “Is this a place for deposit?” and, “How do you intend to extract the gold?” What do you have to say to those two questions?
Quinton Hennigh: Sure, the first question is a very good one. I came to this region on the basis that there might be deposits like those in South Africa. Now let me give a little background there, in South Africa there are really two types of ore, there’s the conglomeratic ore and in that the gold occurs as particles distributed in the matrix of the conglomerate.
In effect those are alluvial deposits in the Witwatersrand Basin. There is also what they call “carbon leader ore.” Carbon leader ore is a very, very thin seam of carbon, almost like coal, and I’ve written several papers (click here to view paper) on this with other authors. We believe that that seam of carbon is basically the fossil remains of early cyanobacterial mats that formed or evolved in a time when Earth’s atmosphere was largely reduced. The idea is the sea water back at that time, under reduced conditions, would have been able to dissolve a fair bit of gold. Gold dissolves in reduced atmospheric conditions.
The cyanobacteria was the first photosynthetic life. During this time period the cyanobacteria starting to kick off oxygen. What we believe is that that oxygen, which causes gold to precipitate, actually pulled, or started pulling the gold out of sea water and created that little carbon seam type ore, that is very, very rich in gold. This is a very, very unusual style of gold mineralization. It’s a thin and very continuous and covers many square kilometers. A seam of carbonaceous gold ore.
I came here looking for similar carbonaceous ores. What have we found? Well, at Beatons Creek, in fact we’ve talked about this in the past, we’ve actually found particles, pieces of carbonaceous material in the conglomerates here. So to answer your question, at Beatons Creek, we see two types of gold, we see bonafide alluvial gold. These would be loose, somewhat rounded particles in the matrix of the conglomerate, but we also see a component of carbonaceous material at Beatons Creek that tells us that that same process that you see in the Witwatersrand was active over in this area.
At Comet Well and Purdy’s Reward, what we see in the conglomerates here are large, rounded; they appear to be water-worn nuggets of gold. The origin of that gold we still haven’t put our finger on, but it’s possible that that gold has been recycled from weathering of previously existing conglomerates or carbonaceous beds that no longer exist.
In their present form it’s alluvial gold, but it’s ultimate origin is still in question. In addition, we have gold that appears to have grown in the matrix around the nuggets. This is what we call “halo gold,” it’s a thin halo about two or three millimeters wide around the gold nuggets, the coarse nuggets, and we believe that gold is actually a precipitated type gold, probably in response to biogenic activity.
So once again I would say it’s a mixture of two types of gold that have brought the system together. We have alluvial particles for sure, we have secondary gold that appears to be perhaps biogenic in nature.
Maurice Jackson: Alright and the second question: “How do you intend to extract the gold?”
Quinton Hennigh: Like the coarse gold is a problem from the sense of assaying but in terms of recovery, it is quite favorable. Gold is dense. One of the easiest ways to treat coarse gold is, of course, gravity recovery, and that’s certainly a possibility, but one of the things we wanted to look at was a call it a somewhat portable style of processing, by using ore sorting machines.
These ore sorting devices are skid mounted or they’re mounted on a transportable platform. They can be moved from one location to the other. Now why is that important? Well, this is a flat deposit, so if you have something that’s long, you know rather than trucking ore from one place to another over kilometers, why not mine process, right on the spot, and then move as you mine the material.
We looked at TOMRA ore sorters starting late last year (click here). We tried ore sorting early in 2017, had mixed results with the Steinert, first looked like it worked great, second rendition didn’t work so well. When we went to TOMRA they showed us some reasons why they thought they could improve things dramatically and just recently we published the final data from that.

In fact, the two samples that were good coherent conglomerate material that we put through saw recoveries over 80% just by sorting. This is using a scanner device, X-ray transmission that literally picks out particles of rock off a conveyor belt that have gold embedded in them. It’s just remarkable! We essentially took gravel, put it on a conveyor belt, sent it across this machine, and it picks out the little particles of rock with gold. What you end up with is a concentrate that’s a very, very small fraction of the overall mass you put in that machine, and it has most of the gold in it.
There are a few additional steps we have got to take to test this further. One question is “What do we do with the fines?” At the present, we are considering to conglomerate them, and then put them through the ore sorter as they are. In other words, turn them back into little pellets or something, let the ore sorter pick them out. Or another option we could do is just put the fines through a gravity circuit on their own. These are options we are considering, which are essentially unconventional means of processing for this very unconventional deposit.
Maurice Jackson: Looking forward, what are the company’s goals and objectives for 2019?
Quinton Hennigh: First, at Beatons Creek, which I talked about as being the most advanced project. We have a resource remodel underway right now, this is work that’s ongoing and we are expecting some bulk samples back from the project. These are ones we collected late last year. Once we have all that data, which should be available by the end of the first quarter, we anticipate publishing a new, updated resource for Beatons Creek. We are targeting over a million ounces, we’ll see if we can get there, I feel pretty confident. Beatons Creek should be a robust deposit. This puts the project in a good path for monetization. Then we will take the next steps of looking at how we potentially develop that project.
Second, at Comet Well and Purdy’s Reward, we anticipate doing a level of trial mining this year. We are continuing to evaluate some of the test work around the TOMRA, for example, as a means of processing at Comet Well. I think once we get a full evaluation, and we do have a bit more data we got to get back on that, but once we have a full evaluation of that processing, we’ll look at that trajectory. Bear in mind, we also are shooting for that mineralization report and working on a Native Title agreement so that we can convert a lot of that country into mining leases. That’s the trajectory for Comet Well and Purdy’s Reward.
Third, at Egina, once the rainy season’s over in a few weeks, we anticipate getting out there and hitting the mining lease very hard. This is the mining lease where we took our bulk sample last year. We anticipate putting together on a test basis, a grid of samples across a target area, where we can see if we can put together a resource on the terrace gravels.
We also anticipate, because it’s a mining lease and we have permit to go up to 50,000 tons extractable, doing some small-scale test mining. We are seeking to help build our confidence around that project. The other aspect to Egina, very important, we anticipate taking some samples further afield in some more distant areas, and trying to get an idea how extensive that deposit may be. If Novo proves that that deposit covers a vast area, encompassing many tens of square kilometers, in that country, I think people will sit up and take note. I think that’s really a big add to the story we have in the Pilbara right now.
Maurice Jackson: Near term, what is the next unanswered question, when should we expect results, and what determines success?
Quinton Hennigh: Per each project, the factors that determine success are a bit different. We have data coming back from bulk samples from Beatons Creek that will help support a new resource model, again that’s going to be over the next few weeks. We anticipate getting that resource put together by the end of this quarter.
If we see a resource above a million ounces I think we now have critical mass that allows us to look at that project a bit differently and more aggressively in terms of advancing it.
As far as Comet Well goes, I think right now we feel comfortable with the grades and the continuities we’re seeing. I think we have a fairly decent understanding of what this deposit is. What we really need to do there is to go test mine it on a scale, maybe a few tens of thousands of tonnes, and from multiple locations alone the strike of the conglomerate.
We also have to do some ore sorting tests to see if we can use that as a means of processing. Those are the two factors if we can successfully process this material using ore sorter, and that includes capturing the gold that’s in the finer material, I think we have an exceptional means of treating this unusual mineralization.
Ore sorting and test mining at Comet Well are absolutely critical paths for us. At Egina, because it’s free-dig gravel at surface, we have the luxury, and because we have a mining lease, too, of going out there and being pretty aggressive. Right so we can go out and start digging some hundred cubic meter samples like we did late in 2018, and we can advance that project quickly.
Basically, it’s almost like doing an exploration program in parallel with test mining and test processing. So I really think even though the metrics are not fully defined yet, I think Egina is one where it’s an easier project that can be advanced much more quickly. Therefore, we believe going forward Egina is going to become more and more important to the company.
Maurice Jackson: Sir, what do you see as the biggest challenge for Novo Resources, and how would you mitigate that situation?
Quinton Hennigh: This is a good question. Australia’s a very good place to work and in particular in Western Australia. Every single project that’s been put up for permitting and advancement has become a mine. There are virtually no examples where a deposit wasn’t mined, but it takes time. That’s our determining factor.
We have to do things like permit, we have to get mining leases from exploration licenses. We have to do the proper steps. We have to work with social license, we can’t just go in and start mining. I think a lot of people, they look at our projects and they’re very exciting, it’s easy to see that these things could be developed, we literally go out and start mining some tomorrow if you had that luxury, but we have to do things right here.
We have to do things right, both in terms of permitting, social license and all of those aspects, but we also have to do the right technical work to make sure that we take the right steps. We don’t want to go and fall on our sword. I guess my comment to that question would be, time and patience is what we need.
Maurice Jackson: Switching gears, sir can you please share with us the current capital structure for Novo Resources?

Quinton Hennigh: We have a little over 163 million shares out. We have a few options in warrants out there bringing us to 204 million shares. Right now we have a little less cash than shown above, we’re around CA$45 million at the end of the year. We have a good treasury, which is great! Because these projects, as I just said, need time and patience to advance.
What we really are appreciative of is the shareholder base. We’ve got good shareholders, we have Kirkland Lake, we have Newmont Mining, Mark Creasy who I mentioned earlier, we have a lot of long-term shareholders who really understand the geology, and they understand the steps that we need to take to get these projects through to fruition.
Maurice Jackson: And at the recording of today’s interview, right now the share price is at CA$2.32. Sir, for our U.S. investors, what can you share with us regarding DTC Eligibility?
Quinton Hennigh: Novo Resources filed DTC Eligibility in October 2018. This will enable U.S. citizens’ shares to be traded electronically in much more user-friendly way to facilitate electronic trading. It allows U.S. shareholders to put those share certificates into a U.S. brokerage accounts and trade them. So we did that for the benefit of our shareholders and I haven’t heard any complaints since.
Maurice Jackson: Last question. What did I forget to ask?
Quinton Hennigh: What does Novo Resources want to become? People who really know us know the story. They know we want to become a gold producer. Novo has tackled a very unusual style of mineralization but we want to prove that these deposits are going to make good economic mines, and we have three very promising projects, each of which has huge potential! Beatons Creek, Karratha, as well as Egina, all have extremely good potential to be very large, and hopefully very high margin, deposits.
I think if I had one comment to say, that’s the path we’re going to take: “Novo would like to become an established Western Australian gold producer.”
Maurice Jackson: Dr. Hennigh, for someone who wants to get more information on Novo Resources, please share the contact details.
Quinton Hennigh: Please contact our Head of Investor Relations Leo Karabelas in Toronto. His telephone number 416.543.3120 or email leo@novoresources.com.
Maurice Jackson: And as a reminder, Novo Resources trades on the TSX.V symbol NVO and on the OTCQX symbol NSRPF. Novo Resources is a sponsor of Proven and Probable and we are proud shareholders of Novo Resources for the virtues conveyed in today’s message. And last but not least, please visit our website, provenandprobable.com, where we deliver mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Dr. Quentin Hennigh of Novo Resources, thank you for joining us today, on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure: 

1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Novo Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Novo Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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GSP RESOURCE CORP. Soil Sample Program Indicates Strong Copper Values and Establishes Drill Targets at Olivine Mountain

Vancouver, British Columbia – February 13, 2019: GSP Resource Corp. (TSX-V: GSPR) (the “Company”) is pleased to announce the results of the Fall 2018 soil sample program at the Olivine Mountain Project.  Assays have been received from an extensive geochemical soil survey program undertaken in Fall 2018 and have established the presence of strong Copper-in-soil anomalies coincident with interpreted geophysical anomalies.  Notably, the geochemical survey results have established several drill targets at the Olivine Mountain Project.  The recommended initial drill program is for up to 1,000 meters of NQ Core drilling directed at four main targets and is budgeted at approximately CAD$250,000 (including site preparation, supervision and analytical work).  GSP Resource Corp. President and CEO, Simon Dyakowski commented: “base metals values in the soil sample grid, in particular – Copper of up to 678ppm, are very encouraging.  The results are coincident with the interpreted geophysical anomalies identified in GSP’s Spring 2018 airborne and ground survey programs.  Four drill targets are considered of interest for the presence of related massive sulphide deposits and we expect to commence the permitting process shortly.”
Olivine Mountain Copper-in-soil Results Map:

Olivine Mountain Nickel-in-soil Results Map:

Fall 2018 Geochemical Survey Results Summary*
GSP crews constructed approximately 100 line kilometers of grid over the favourable geophysical anomalies, with lines oriented in an east-west direction, and spaced 100 meters apart. Sample stations were established at 50 meter intervals along all lines. In total, approximately 1850 soil samples were collected. All samples were submitted to the laboratories of MS Analytical in Langley, B.C. for analysis. Methods included a one acid, 41 element Ultra Trace level ICP analysis for 41 elements including Au, Co, Cu, Ni, Pd, Pt and V. Plots of each element were made, highlighting anomalous zones by colour and size. The following are elemental thresholds:

Au(ppb) Co(ppm) Cu(ppm) Ni(ppm Pd(ppb) Pt(ppb) V(ppm)
Possibly Anomalous 10 – 50 50 – 100 50 – 100 50 – 100 25 – 50 25 – 50 175 – 200
Probably Anomalous 50 – 100 100 – 200 100 –250 100 – 250 50 – 100 50 – 100 200 – 250
Definitely Anomalous 100 – 386 200 – 253 200 – 678 250 – 900 100 – 230 100 – 190 250 – 443

Copper values are considered very strong, believed to be indicative of significant mineralization in underlying bedrock. Cobalt, nickel, platinum and palladium values are moderate to strong and are also believed to be indicative of respective mineralization in underlying bedrock. There is a relatively close relationship of copper to cobalt and palladium and nickel to platinum and palladium. Gold is related to both copper and nickel. There is very little sympathy of copper to nickel. These relationships probably reflect the zoning nature of the metals in bedrock.
Olivine Mountain Compilation Plan Map:

Compilation of Results*:
Six significant geochemical anomalies are interpreted from the copper and nickel plots:

  1. Centered on L83700N@55600E – Strong copper values over an area 900 x 600 meters with associated palladium, weak nickel, weak gold and weak cobalt. The anomaly is at the north end of a strong magnetic/conductive geophysical body, with strong conductive picks having been interpreted from airborne data. The area is just south of the Asp Showing.
  2. Centered on L83300@56900E – Strong copper values over an area 600 x 400 meters with associated weak palladium and platinum. There are no associated geophysical anomalies. There are no mineral showing associated with this anomaly.
  3. Centered on L84600N@ 54800E – Moderate to strong copper values over an area 700 x 400 meters with associated vanadium and weak cobalt. There are no associated geophysical anomalies. The anomaly is just northwest of the RC Showing.
  4. Centered on L85100N@55300E – Strong copper values over an area 700 x 300 meters with weak nickel, palladium, vanadium and gold. There are no associated geophysical anomalies. The anomaly is just south of the ASP 14 showing.
  5. Centered on L82600@56500E – Moderate to strong nickel values over an area of 600 x 800 meters with associated palladium, platinum, weak gold, weak cobalt and weak copper. The anomaly is at the south end of a strong magnetic/conductive geophysical body, with strong conductive picks having been interpreted from airborne data. There are no mineral showings associated with this anomaly.
  6. Centered on L82700N@55200E – Strong nickel values over an area 700 x 700 meters with associated palladium, platinum and vanadium. The anomaly is associated with a strong magnetic and conductive geophysical body. There are no mineral showings associated with this anomaly.

Conclusions and Recommendations*:
Four of the anomalous targets are worthy of drilling and the following hole locations are recommended:
L83700N@55800E – vertical diamond drill hole to 200 meters.
L85100N@55300E – vertical diamond drill hole to 200 meters.
L82600@56500E – vertical diamond drill hole to 200 meters.
L82800N@55200E – vertical diamond drill hole to 200 meters.
The drill program should allow a contingency of 200 meters for an additional hole or deepening of initial holes, therefore the recommendation is for a total of 1000 meters. Core drilling should be NQ size. The cost estimate of 1000 meters includes roads, site preparation, supervision and analytical work should be approximately CAD$250,000.
*Sections quoted from a Summary Report – 2018 Work Programs on the Olivine Mountain Property, by John R. Kerr, P.Eng, dated February 12, 2019.
Quality Assurance / Quality Control:  Samples were sent to MS Analytical (an ISO 9001:2015 and ISO 17025:2005 accredited laboratory) in Langley, BC. Soils were dried and screened through an 80 mesh screen to remove rocks and other matter. A 20g aliquot from the minus fraction was weighed and digested using weak aqua regia and then analyzed by ICP-ES/MS (IMS-117). Analytical results were verified by the insertion of certified reference materials, blanks and duplicates.
Qualified Person:  The scientific and technical disclosure contained in this news release has been reviewed and approved by Christopher I. Dyakowski, P.Geo, a “Qualified Person” as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About GSP Resource Corp. GSP Resource Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The Company has an option to acquire a 100% interest and title to the Olivine Mountain Property located in the Similkameen Mining Division, 25 km northwest of Princeton, British Columbia.
Contact Information – For more information, please contact:
Simon Dyakowski, Chief Executive Officer
Tel: (604) 619-7469
Email: simon@gspresource.com
Cautionary Statement Regarding “Forward-Looking” Information.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the Olivine Mountain Project, obtaining drill permits, cost of potential drill program, comments regarding the timing and content of upcoming work programs, and other statements relating to the business prospects of the Company. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. 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. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such 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, anticipated costs and the ability to achieve goals, 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, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, platinum, palladium, copper and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) risks related to environmental regulation and liability; (xiii) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xiv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xv) risks related to the outcome of legal actions; (xvi) political and regulatory risks associated with mining and exploration; (xvii) and risks related to current global financial conditions. These risks, as well as others, could cause actual results and events to vary significantly. 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, the loss of key directors, employees, advisors or consultants, volatility in metals prices, adverse weather conditions, equipment failures, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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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Vancouver 2019 Keynote Speakers Confirmed

Fairmont Hotel Vancouver, British Columbia
July 30 – August 2, 2019

Dear Reader,
One of the biggest benefits of the Sprott Natural Resource Symposium is, of course, the presentations from our all-star lineup – the world’s smartest minds in finance, investment research, economics, and natural resources…
All handpicked by our returning host Rick Rule, President and CEO of Sprott U.S. Holdings Inc., and his experienced team.
When all of these experts come together, ideas happen – connections are made – and you, our valued attendee, will have a rare opportunity to learn about cutting-edge strategies with the potential to transform your financial future.
Today it’s my pleasure to introduce this year’s high-profile keynote speakers who are in unique positions to understand and interpret the state of the world’s economy.

  • James Rickards – Editor, Strategic Intelligence and a world famous consultant to the Pentagon and CIA. He helped the Federal Reserve avoid a complete financial meltdown, and even investigated market activity which predicted 9/11. He’ll combine his exceptional background as a government insider with his economic expertise and show you how to navigate today’s volatile markets.
  • Nomi Prins – Distinguished political-financial expert, journalist and best-selling author, she’s also a former member of Senator Bernie Sanders’ Federal Reserve Reform Advisory Council. On Wall Street, Nomi was a managing director at Goldman Sachs, she ran the international analytics group as a senior managing director at Bear Stearns in London, and worked as a strategist at Lehman Brothers and Chase Manhattan Bank.
  • Danielle DiMartino Booth – Author and former top adviser at the Federal Reserve Bank of Dallas, she utilizes her years of experience in central banking and Wall Street to help investors understand macroeconomics – how the movements of world markets and actions of regulators may affect their businesses in an ever-changing world economy.

Our Symposium Chairman, Rick Rule – who was recently recognized by The Mining Journal as one of the 10 most influential people in mining – will open the Symposium General Session at 8 a.m. sharp on July 30, at the historic Fairmont Hotel in downtown Vancouver.
Over four jam-packed days filled with activities and special events, Rick and his team will present experts you won’t find gathered together anywhere else on the planet.
And rest assured, we’ve allowed plenty of time for you to socialize and rub shoulders with these distinguished speakers and our panel of investors, analysts, strategists, millionaires, and even billionaires.
You see, Rick’s mission for the Symposium is much different than anything you’ve ever experienced.
His allegiance is to you, our attendee – not to a sponsor with a check in his hand.
In other words, our exhibitors aren’t simply advertisers. They’re content.
You’ll be closer to these experts and professionals than you ever imagined…
And they’ll be ready to share their best ideas about how you can profit from what may be the greatest opportunities of this decade.
There’s something else you should know…
Rick Rule and his team vet every exhibitor before they come to the Symposium. They’re invited on a performance basis – he knows the executives personally and Sprott has invested in every listed company.
Rick genuinely believes that they are among the best at what they do.


As the Symposium date draws closer, we’ll keep you updated on additional world-class speakers and exhibitors as they are confirmed. We’ll also make sure you get first crack at special events and optional tours.

Visit Our Website for Symposium Details

Or if you prefer, simply contact Opportunity Travel today by phone at +800 926 6575or +561 243 6276, or email us at info@opportunity-travel.com. We would be happy to assist you with your Symposium ticket, air travel, hotel stay or any questions and special requests.
Tickets at the door on July 30, 2019 will be $799.
But right now while we’re still confirming guests and exhibitors, and adding information on our website, you can cash in on our Early Registration Discountand you’ll pay only $449 per person!
That’s right. You’ll save $350 on your ticket. (Note: this rate is subject to change at any time.)
Act Now! Register today and you’ll get the lowest price possible.
I hope to hear from you soon and I look forward to greeting you at the Fairmont Hotel in downtown Vancouver, July 30 – August 2, 2019.
Cordially,

Barbara Perriello, Director
Opportunity Travel
P.S. One last but important item we’re so confident our 2019 Symposium will exceed your expectations, we’ll refund the full cost of your registration if you’re not satisfied. No questions asked.
P.P.S. Plan your 2019 vacation now – Vancouver is one of the world’s top cities and there’s almost no end to attractions, adventures and experiences. And did I mention? There’s nothing like a summer’s day in this outdoor wonderland. Let us help you get the most out of your Symposium experience! Contact Opportunity Travel today by phone at +800 926 6575 or +561 243 6276, or email us at info@opportunity-travel.com.
Where We’re Headed Next


Opportunity Travel’s
Southeast Asia Tour to Thailand & Malaysia
February 24-March 3, 2019

Post-Tour Following International Living’s
2019 Southeast Asia Fast Track Your Retirement Overseas Conference
Bangkok, Thailand – February 21-23

Since we’ll be right here in beautiful Bangkok for the IL conference, we’ve designed an exclusive, fun-filled post conference tour that’s a first class, luxurious journey. You’ll get a chance to see firsthand why travelers and expats alike simply love everything about Thailand and Malaysia. Get full details about this exclusive expedition and guarantee yourself a spot – but you’ll have to act fast, only 20 spaces are available. Call me at 800 926 6575 or +561 243 6276, or email atinfo@opportunity-travel.com.


The Oxford Club’s 21st Annual Investment U Conference
March 28-31, 2019 – The Vinoy Renaissance Resort


Every spring, The Oxford Club hosts its biggest event of the year –the Annual Investment U Conference. For this signature event, we spare no expense to bring you the latest and greatest from the investing world as well as a real no-nonsense look into the markets.
Throughout this event, you’ll discover dozens of profitable ideas from our team of expert analysts, as well as investment insights from more than two dozen of the industry’s top economists and investment minds.
Join us as we celebrate more than two decades of success and tremendous profit opportunities brought to life through this premier event. Year-after-year – we’ve seen the ideas shared here soar to great heights and we are thrilled to see what’s in store next.
For more information on this event, and to reserve your spot today, click hereIf you have any questions about the event, please email us at voyagerclub@oxfordclub.com or call us at +443.708.9411.


Money Map Press presents…

The Black Diamond Conference
Delray Beach Marriott – April 4-6, 2019

Now Accepting Registrations – Act Now & Save

Our next Money Map Press event will take place at one of the most beautiful oceanfront hotels in Florida… the Delray Beach Marriot. Escape with us to Florida’s sun-drenched beaches and take in all that this hip and happening town has to offer.
Money Map’s gurus will share all the tools, techniques and strategies that made them fortunes… and they’ll show you how to attain “the good life” for yourself. Right now for a very limited time, you have the opportunity to experience this exclusive event at a discounted rate.
Go here for full details and registration



June 19 – 30, 2019
Le Havre (Deauville) | Paris

Join our exciting Family & Friends trip to France cheering on the U.S. Women’s National Team as they compete for their fourth World Cup this summer. After a brilliant undefeated year in 2018, Team USA is sure to be a lethal opponent… and the team to beat. Get all the details here and call +800 926 6575/ +561 243 6276 or email Barbara Perriello to book.

Sprott Natural Resource Symposium 2019
Fairmont Hotel Vancouver – July 30-August 2, 2019

Plan your 2019 vacation now – we’ll be happy to help you!
Get the lowest price possible for this popular, long-running conference that just keeps getting better year after year!
Join our chairman and personal host, Rick Rule in the heart of downtown Vancouver for this sell-out event. It’s not too soon to claim your Advance Pricing discount!
Click here for details. You really can’t beat this offer!
For more information about any of these events or expeditions, simply give us a call right now at 800 926 6575 or 561 243 6276, OR send us an email atinfo@opportunity-travel.com


Uruguay & Argentina – November 2019
Opportunity Travel’s South America Expedition
Call now to get your name on the list!

One of our most popular tours! Come November 2019 and once again we’ll be heading south to Uruguay and Argentina where we’ll show you so much more than the wonders these countries are known for. We’d love to have you join us!
Tantalizing wines, fabulous farm to table dining and sensuous tango are just a small snippet of what we have in store. Add to that our unique brand of personal service, luxury hotels and “boots on the ground” experts. Find out for yourself why our past attendees return again and again.
Call now to get your name on the list – 1-800-926-6575 or +561-243-6276OR send us an email at info@opportunity-travel.com


For more information about our tours or conferences, please contact, Barbara Perriello or Michelle Sedita at Opportunity Travel by email atinfo@opportunity-travel.com or by phone at +561.243.6276 or toll-free at +800.926.6575.

Disclaimer: Nothing in this e-mail should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice. In the interest of full disclosure: Opportunity Travel may receive commissions from any property sales made during any of its trips. And, as a travel agency, we often receive a commission from hotels when we book rooms for our tours and conferences.
Copyright © 2019 Opportunity Travel, All rights reserved.
Our mailing address is:

Opportunity Travel

235 NE 4th Ave

Delray BeachFL 33483

Categories
Precious Metals

MILES FRANKLIN Some Holes In the Fed’s Story

Chris Marcus-Contributing Writer For Miles Franklin
Some Holes In the Fed’s Story
Written by Chris Marcus of Miles Franklin
While many in the financial markets often take what the Federal Reserve says as gospel, given everything that’s occurred over the past decade, it’s worth considering a few unanswered questions that the central bank has yet to explain.
Perhaps the most important of which is that if we are now a decade after the last financial crisis, and the economy is really as strong as the president and Federal Reserve continue to assert, exactly when will it be time to finally undo the unprecedented monetary easing?
If all of the stimulus actually worked, then wouldn’t it be reasonable to assume that by this point, what was long ago sold as temporary could finally be undone?
Yet here we are in 2019, and both the interest rate level and quantitative easing balance remain far from anything that could be considered “normal.”
Federal Reserve officials decided in late January to pause their steady campaign to raise interest rates as the global economic outlook became less certain and financial markets failed to appreciate the Fed’s willingness to shift if the economy weakened, according to the minutes of that meeting released on Wednesday.
Fed officials concluded that a pause posed “few risks” for a strong economy in which prices continued to increase at a subdued rate, the minutes show. The Fed did not see any immediate threats to America’s economic expansion, but officials indicated they were worried enough about potential risks — including slowing growth in China and Europe, trade tensions, a volatile stock market and a prolonged government shutdown — to postpone rate increases.
So which is it? Is the economy strong? Or are there significant risks facing the markets? Talk about covering both sides of the argument at once!
Additionally, how are prices rising at a subdued rate, when even the extremely generous CPI figures say that last month’s core inflation is already past the Fed’s 2% mandate?
The index for all items less food and energy rose 0.2 percent in January (SA); up 2.2 percent over the year.
In regards to the Fed’s balance sheet, I was stunned last year when I heard chairman Jerome Powell announce that his new definition of “normal” was now $2.5-3 trillion. As opposed to the $800 billion level where the balance sheet stood before QE began. When it was sold as “temporary”.
I also wrote last year that even as divergent as the $2.5-3 trillion estimate was from the original plan introduced in 2009, that it was incredibly unlikely to happen. And sure enough, here we are just a year later, in an economy that the government and Federal Reserve officials simultaneously claim is prosperous and strong, and once again the story has changed.
The Fed has slowly been winnowing that $4 trillion portfolio by allowing up to $50 billion in bonds to mature each month, but officials appeared to agree in January that the balance sheet runoff should end this year.
Officials agreed that “it would be desirable to announce before too long a plan to stop reducing the Federal Reserve’s asset holdings later this year” and said the announcement “would provide more certainty about the process for completing the normalization of the size of the Federal Reserve’s balance sheet.”
Consider me officially perplexed as to how announcing a cessation of balance sheet tightening provides more clarity in regards to the normalization process. Because as an investor, the idea that the Federal Reserve is once again unable to follow through on what it previously promised creates the exact opposite of certainty.
Which is why I continue to suggest that it’s a much more profitable and advisable strategy to pay attention to what the Fed does, rather than what it says. Because it’s not some mystical feat of clairvoyance that allowed me to forecast in advance that the Fed would run into significant issues if it tried to undo the past decade of policy.
But rather just a basic understanding of the Austrian economics ideology that allowed so many gold and silver advocates like Peter Schiff, Rick Rule, and Jim Rogers to see the previous bubble implosions well in advance.
Sometimes it’s incredible to see how so many market participants still take the Fed statements as indisputable fact. Especially given the Fed’s track record of missing all of the bubbles. In many cases even after they began to implode.
Yet for those who would like to be aware of what’s coming before it’s too late to do something about it, I’ll just reiterate what Rogers said to me during an interview when he mentioned how “when people lose confidence in government and money, they always buy gold and silver.”
I still have yet to find any reason why this time will be any different. And if you have any questions as to why, as always you’re welcome to email me here.
-To purchase physical precious metals including gold, silver, platinum, and palladium, call Miles Franklin today at 1-800-822-8080
-Or get Miles Franklin’s FREE report on why the price of silver is set to explode!
About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
For your protection, we are licensed, regulated, bonded and background checked per Minnesota State law.
Miles Franklin
801 Twelve Oaks Center Drive
Suite 834
Wayzata, MN 55391
1-800-822-8080
Categories
Junior Mining

ROVER METALS in Toronto for PDAC: February 26th-March 6th


Rover Metals (TSXV: $ROVR) (OTCQB: $ROVMF) will be in Toronto fromFebruary 26th to March 6th and available for meetings with existing shareholders and new investors.
Please contact me to set-up a one-on-one meeting to discuss the exploration work planned for the high-grade gold ‘iron formation’ Cabin Lake Group Project in the NWT, of Canada.
Rover Metals will have a booth (#2951) from March 3rd – March 6th on thePDAC trade show floor. Please come by and talk to myself, Keith Minty, and/or Raul Sanabria.
I would also like to invite you to visit the 321 Gold website to read upcoming featured articles on Rover Metals.

Categories
Base Metals Energy Junior Mining

NEVADA COPPER Construction and Financing Update – Pumpkin Hollow Remains On Schedule to Enter Production in Q4, 2019

VANCOUVER, British Columbia, Feb. 22, 2019 (GLOBE NEWSWIRE) — Nevada Copper Corp. (NCU.TO(“Nevada Copper” or the “Company’’) is pleased to confirm that its Pumpkin Hollow underground copper project (the “Underground Project”) remains on target to commence production in Q4 2019 and wishes to provide an update on recent operations progress, financing discussions and exploration activity.

HIGHLIGHTS

  • Operations update:
    • Underground project construction progressing on budget and on schedule for first production targeting Q4 2019
    • New technical report, including the open pit project pre-feasibility study, well-progressed with completion targeted for end of Q1 2019, and ongoing focus on capital efficiency and IRR maximization
  • Exploration update:
    • Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east
  • Financing update:
    • Discussions well underway regarding ECA-backed project finance facility to further optimize its balance sheet for the long-term
    • Working capital facility and offtake arrangements also in progress

Matt Gili, Chief Executive Officer of Nevada Copper, stated, “We are very pleased that construction at Pumpkin Hollow remains on target for entering production in the fourth quarter of this year.  As highlighted by our solid progress, our team is performing extremely well and we now have 250 employees, contractors and subcontractors active on site. In addition, we are continuing to execute on our longer-term development plans and have significantly expanded our mineral claims area to the east via staking.

OPERATIONS UPDATE

As at mid-February, with approximately 250 employees, contractors and subcontractors on site, the construction of the Pumpkin Hollow Underground Project is progressing on schedule, including:

Underground Works – consisting of the production shaft and shaft stations (east main shaft), the ventilation shaft (east north ventilation shaft) and lateral development.

  • East Main shaft utilities installation completed ahead of schedule
  • Lateral development on the 2850 level and 2770 level have advanced 322ft and 182ft respectively (exclusive of shaft station)
  • East North Ventilation Shaft surface infrastructure is complete and shaft sinking has advanced to 150ft

Surface Works – consisting of processing plant, dry stack storage and all other surface facilities.

  • Earthworks complete for the primary dry stack facilities
  • Concrete foundations for the grinding and cyclone areas are well underway

The previously announced new technical report, including the open pit project pre-feasibility study, is well progressed with targeted completion by the end of Q1 2019. The Company continues to apply its philosophy of focusing on capital efficiency and IRR-maximizing staged development.

EXPLORATION ACTIVITY UPDATE
Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east. The staked claims appear to have good porphyry-style alteration and copper mineralization at surface. The Company is currently mapping and sampling the newly-acquired claims area, in addition to following-up on additional areas of high-grade surface skarn mineralization on its property.

ENVIRONMENTAL & COMMUNITY ASSESSMENT UPDATE

As part of its ongoing commitment to community engagement the Company has recently prepared an updated Environmental and Community Assessment Summary which provides information on the studies that have been performed and the permits and authorizations in place to protect the environment and address any community-related issues. This report is available on the website at www.nevadacopper.com under the Community heading.

FINANCING UPDATE

The Company is continuing discussions with potential export credit agency-backed project finance lenders with the objective to further optimize its balance sheet for the long-term. Such discussions may provide the opportunity to substantially reduce the cost of the Company’s debt service and attract strong finance partners for potential future open pit development. Discussions are also ongoing relating to associated agreements to complement such a project finance facility, including a working capital facility, and should it be required or preferable, other financing, such as a standby/overrun facility, as well as offtake arrangements.


EN Ventilation Shaft Surface Infrastructure Completed and in Use

Sag/Ball/Verti Mills and Cyclone Foundations well Advanced

Caterpillar R1600 Loader being installed on the 2850 Shaft Station

January 15, Site Construction Progress including East Main Headframe

Qualified Persons

The information and data in this news release was reviewed by David Swisher, P. E., VP of Operations for Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper’s (NCU.TO) Pumpkin Hollow project is the only major, shovel-ready and fully-permitted copper project in North America that is currently under construction. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully-permitted projects include: the high-grade Pumpkin Hollow underground project which is in construction with a view to commencement of copper production in Q4, 2019; and the Pumpkin Hollow open pit project, a large-scale copper deposit.

Additional Information

For further information please visit the Nevada Copper corporate website
(www.nevadacopper.com).

NEVADA COPPER CORP.

Matthew Gili, President and CEO

For further information call: