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Precious Metals

JUNIOR MINING | Minera Alamos Provides Year-End Development Update for Santana Gold Project, Sonora, Mexico

Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – December 4, 2018) – Minera Alamos Inc. (TSXV: MAI) (“Minera Alamos” or the “Company”) is pleased to provide an update of its 2018 development activities at the Santana gold project located in Sonora, Mexico. Since the project was acquired as part of the merger completed in April this year with Corex Gold, the Company has aggressively advanced the Santana project.

“As the year draws to a close the Minera Alamos team has made excellent progress at Santana in anticipation of what we expect to be our first commercial mine in 2019. The consistent recovered grade from the bulk test work at Nicho Norte coupled with low cyanide consumption suggests the potential for a robust open-pit, heap-leach operation. As a result, discussions with mining contractors have been initiated in anticipation of approval of our commercial permit applications and making a final construction decision,” stated Minera Alamos President Doug Ramshaw. “The recent approvals of the Company’s permit applications at the La Fortuna gold project exemplify a core competency of our team and its experience of working within the permitting environment in Mexico. We expect that these efforts will be equally successful at the Company’s Santana project and look forward to providing our shareholders with the news of those permits in near future.”

Test Mining and Mine Development Activities

  • Over 50,000 t of mineralized material was mined from Nicho Norte and heap leach tested to evaluate grades, recoveries, reagent consumptions and the impact of crush size.
  • Cumulative overall gold production from the test mining now totals 1,040 oz and represents a recoverable gold grade approaching 0.65 g/t Au.
  • Crush sizes for the various leach test phases varied from coarse crushing (<3″) to fine crushing (<1.2-5/8′) and agglomeration. Ultimate gold recoveries from all tests were excellent and consistent with the overall cumulative average. Crush size will ultimately be fine tuned to maximize future profitability at a proposed commercial scale.
  • While the use of fine crushing/agglomeration appears to improve the gold leach kinetics, ultimate recoveries remained similar to those achieved leaching coarse material.
  • Cumulative reagent consumptions for the bulk test are low amounting to <0.20 kg/t for both cyanide and lime.
  • The application for commercial-scale operating permits was submitted (see news release dated July 26th 2018), and the Company anticipates positive notification in the near future.

Leaching from the test pad is winding down; however, the Company is still recovering residual gold and has recently shipped additional gold in concentrate totaling approximately 150 oz. One final shipment is anticipated as this residual leaching draws to a close.

Exploration Successes

  • A successful Phase 1 drill program yielded positive results from the Nicho Main area including 127.0 m of 0.81 g/t Au, 80.4 m of 1.05 g/t Au and 93.5 m of 0.65 g/t Au with mineralization extending from/near surface (see news releases dated October 11th2018, October 17th 2018 and October 25th 2018).
  • The Phase 1 drill program resulted in the discovery of the Divisadero porphyry target located approximately 200 m north of the Nicho Norte zone, returning 95.7 m of 0.85 g/t Au, 9.8 g/t Ag and 0.33% Cu. Mapping and sampling has outlined a mineralized surface expression in excess of 200m x 300m (see news releases dated October 25th2018 and November 15th 2018).
  • The Phase 2 drilling program will commence shortly to follow up on new discoveries made at Santana.

Ongoing Activities

As the Company awaits notification of its commercial-scale operation permit it has been active in developing strategy for a rapid shift to development and construction of a new mine including:

  • Contract negotiations with mining contractors
  • Water well drilling planning
  • Updating of the geological models based on results from Phase 1 drilling
  • Phase 2 drill program to follow up on recent discoveries

All these activities will contribute to a formal construction decision the Company anticipates making in the first quarter of 2019.

Figure 1 – Santana proposed gold heap leach operations site arrangement

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Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/4adba83cfd60b71b45192f8664e2bf18

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/41438_86a843ece4fc7926_002full.jpg

Note: The Company is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Minera Alamos acknowledges and advises there is increased uncertainty and that there are specific economic and technical risks of failure associated with any production decision. The Company believes the historic experience and track record of senior management with gold heap leaching and by advancing in careful prudent steps helps ameliorate possible technical risks.

For Further Information Please Contact:

Minera Alamos Inc.

Doug Ramshaw, President

Tel: 604-600-4423

Email: dramshaw@mineraalamos.com

Website: www.mineraalamos.com

About Minera Alamos

Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress. The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.

The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.

Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’ financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.

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

Categories
Base Metals

JUNIOR MINING | Miramont Receives Drilling Permit for Cerro Hermoso

Vancouver, British Columbia–(Newsfile Corp. – December 4, 2018) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has received the required drilling permit for its Cerro Hermoso project in southern Peru. The Company anticipates drilling to begin early in the New Year.

Bill Pincus, Miramont’s President and CEO said, “We are very happy to begin our drill program at this exciting prospect. Our geologists have worked long and hard to advance this project and surface exploration continues to yield more and more evidence of widespread mineralization. It’s now time to test it with the drill rig.”

“Miramont also knows that working with the local community is vital. Our team makes a substantial effort in this area and is fortunate to have a positive working relationship with all local parties. We are glad to have their support and will work hard to maintain it.”

Cerro Hermoso is a large diatreme-hosted system with various styles of copper, gold and silver mineralization found in a four square kilometer area. It has many similar characteristics to other diatreme systems that are known to host large bulk-tonnage polymetallic deposits. Three priority drill targets have been identified by a combination of geologic mapping, geochemical sampling and geophysical prospecting. These are known as the Central Breccia Zone (Gold), the Stockwork Zone (Copper/Silver) and the Carbonate Replacement Zone (Copper/Silver). All three targets will be tested in the upcoming program. Further information can be found on the Company’s website.

Miramont has contracted AK Drilling International to conduct the first-phase diamond-core drilling program and is now coordinating mobilization of the drill rig. The Company has also completed construction of a core-shack and related infrastructure.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.

About Miramont Resources Corp.

Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold – polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.

On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.

“William Pincus”

William Pincus, President and CEO

For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontrresources.com
www.miramontresources.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

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

Categories
Oil & Gas

Oil & GAS | Jericho Oil’s First Osage Formation STACK Well Continues to Deliver Strong Results

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Jericho Oil’s First Osage Formation STACK Well Continues to Deliver Strong Results

GlobeNewswire

Best-in-Class Well Productivity and Low Decline Rate Further Validates Company’s Northern STACK Acreage

TULSA, Okla. and VANCOUVER, British Columbia, Dec. 03, 2018 (GLOBE NEWSWIRE) — Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC PINK: JROOF) is pleased to provide an update regarding its ongoing participation in its Oklahoma STACK Joint Venture (“STACK JV”).  The Swordspear 15-23N-10W #1H, the STACK JV’s first Osage formation well, has now been on production, since running an electrical submersible pump (capable of handling high fluid volumes), for 160 days and has produced, on average, 330 BOE per day (50% oil).   The strength and, more importantly, the longevity of the Swordspear well’s production profile has given the Company great confidence in its northern STACK acreage position.

Well positioned around significant activity from ExxonMobil and Alta Mesa Resources, the STACK JV’s northern STACK acreage, has pushed the boundary for where the Osage formation has been successfully proven with modern horizontal hydraulic stimulation.  To achieve a strong well, it takes significant investment in actively drilling new wells in the same oil field, studying the geology where these wells exist and honing in on a repeatable completion technique.  The Swordspear well, in addition to our non-operated positions in nearby peer wells, will provide a continual flow of data which will inform and improve our deep inventory of future multi-zone developments and the overall value of our coveted STACK resource.

The Company’s 2018 development plan within the STACK continues to focus on defining and proving up its acreage position for the Meramec and Osage formations through horizontal drilling.  Currently, the STACK JV now has an interest in four Osage formation wells and two Meramec formation wells.

Brian Williamson, CEO of Jericho Oil, stated, “The Company, as evidenced by the Swordspear well production, continues to provide operational excellence by delivering best-in-class well productivity in this world-class play.  Our current well results, 2019 planned development, coupled with surrounding marque peer wells planned for Q4-2018 and Q1-2019 will provide a springboard of net asset value for our STACK JV.  While extremely satisfied with the result of this first Osage formation well, we will look to improve even further upon our future development as we continuously integrate real-time drilling, completion and production data into our geology and engineering models.”

About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK Play of Oklahoma.  Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves.  Jericho has assembled an interest in 55,000 net acres across Oklahoma, including an interest in ~16,000 net acres in the STACK Play. Jericho owns a 26.5% interest in STACK JV.
Jericho’s current operations are focused on the oil-prone Meramec and Osage formations in the STACK.  The Jericho team applies advanced engineering analyses and enhanced geological techniques to under-developed resource areas.
Based in Vancouver, British Columbia, with operational headquarters in Tulsa, Oklahoma, Jericho trades publicly on the TSX-Venture (JCO) and OTC (JROOF). Jericho owns its net acre position in Oklahoma through, and participates in the STACK JV through, one or more wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho’s expectations include risks related to the exploration stage of Jericho’s project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

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

CONTACT:
Adam Rabiner
Director, Investor Relations
1.800.750.3520
investorrelations@jerichooil.com

Categories
Precious Metals

JUNIOR MINING | Gold Resource Corporation Expands Arista Mine Drilling 16.95 Meters of 6.21 g/t Gold and Discovers New Mineralized Southwest Veins

COLORADO SPRINGS, Colo., Dec. 03, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the continued expansion of the Arista Mine’s Switchback vein system with intercepts including 16.95 meters of 6.21 grams per tonne (g/t) gold, 80 g/t silver and 4.50% zinc.  These new results extend the strike length by approximately 100 meters to the northwest while expanding the Switchback vein system’s vertical extent in depth and height in this area.  In addition, newly discovered mineralized veins were intercepted in two drill holes testing an exploration target called “Andesite Hill”, located southwest of the Arista Mine’s Arista vein system.  Both holes intercepted mineralized veins, including 2.29 meters of 4.01 g/t gold, 580 g/t silver and 5.07% zinc.  Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A.  The Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Arista Mine :Arista Mine Exploration Update
Arista Mine :Arista Mine Exploration Update

From an underground exploration drill pad located on level 10 of the Arista Mine’s Arista vein system, drill holes 518010 and 518011 tested the “Andesite Hill” exploration target southwest of the Arista vein system.  Two individual mineralized veins were discovered in both drill holes located approximately 200 to 400 meters from the Arista vein system’s Splay 5 (see map).  These newly discovered veins represent an expansion to the Arista Vein System, or the discovery of a third vein system to the southwest of both the Switchback and Arista vein systems.

“Andesite Hill” target drill highlights include (m=meters, g/t=gram per tonne; full drill table below):

Hole# 518010:

  • 1.13m of   0.46 g/t gold,     77 g/t silver,  0.35% copper,  2.16% lead,   4.11% zinc
  • 0.48m of   1.42 g/t gold,   342 g/t silver,  0.11% copper,  0.29% lead,   0.27% zinc

Hole# 518011:

  • 0.30m of   5.47 g/t gold, 2,510 g/t silver,  0.58% copper,  0.76% lead,   1.55% zinc
  • 2.29m of   4.01 g/t gold,    580 g/t silver,  0.36% copper,  3.84% lead,   5.07% zinc

incl. 0.72m of    5.89 g/t gold,    739 g/t silver, 0.32% copper,   1.72% lead,   7.07% zinc

Five holes were drilled from an exploration drill pad located east of the Switchback vein system on level 24.  These five drill holes confirmed up-dip and down-dip continuity of known veins and extended the vertical mineralization within the Switchback vein system.

Switchback vein system up-dip and down-dip drill highlights include (full drill table below):

Hole# 518013:

  • 4.17m of   4.17 g/t gold,    63 g/t silver,  0.68% copper,  0.81% lead,   1.55% zinc

incl. 1.25m of   7.45 g/t gold,  102 g/t silver,  0.63% copper ,  1.12% lead,   1.87% zinc             

Hole# 518020: 

  • 16.95m of   6.21 g/t gold,   80 g/t silver,  0.52% copper,  1.76% lead,    4.50% zinc

incl.   2.20m of   9.28 g/t gold,   81 g/t silver,  0.87% copper,   2.00% lead,    8.93% zinc
incl.   1.30m of 25.10 g/t gold, 244 g/t silver,  0.91% copper,   2.41% lead,    5.10% zinc       

Hole 518024 was drilled from an underground drill station constructed at the end of a 200-meter long decline ramp driven from level 3 of the Arista Mine’s Arista vein system, to test the northwest extension of the Switchback mineralization by approximately 100 meters.

Northwest Switchback vein system 100-meter step-out:

Hole# 518024:

  •   1.33m of   1.33 g/t gold, 190 g/t silver,  0.09% copper,  0.48% lead,   0.80% zinc

incl.   0.82m of   1.03 g/t gold, 312 g/t silver,  0.03% copper,   0.06% lead,   0.16% zinc       

“We are very excited with the exploration drilling at the Arista Mine’s Switchback vein system as it continues to deliver impressive results,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation.  “Our exploration efforts extended the strike length and vertical extent of Switchback.  In addition, the discovery of new, mineralized veins to the southwest of the Arista vein system speak to the expansion potential of this large epithermal vein system.  It is too early to tell if these newly discovered veins are an extension of the Arista Vein system or if this a new parallel system to the southwest mirroring the Switchback and Arista Vein system.  Either way this deposit continues to grow.”

“Our Oaxaca Mining Unit’s exploration team has again done an excellent job expanding the Arista Mine during 2018,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation.  “It is also very positive that we are seeing higher grade gold such as the 6.21 grams per tonne over 16 meters in an up-dip drill hole into higher Switchback elevations.  Unlike the Arista Vein system where we mined down over time, at the Switchback Vein system we are mining up and expect to see increased grades over the long run in this area of the Arista Mine.  We also look forward to the completion of the annual reserve update reflecting the totality of this year’s exploration drill programs.”

ARISTA MINE DRILL RESULTS
December 2018
Hole # Angle Vein   From Interval Au Ag Cu Pb Zn
deg   Meters Meters g/t g/t % % %
 “ANDESITE HILL” TARGET – NEWLY DISCOVERED VEINS
518010 -11 Vein   321.69 1.13  0.46  77  0.35  2.16  4.11 
Vein   373.07 0.48  1.42  342  0.11  0.29  0.27 
518011 -1.5 Vein   150.22 0.30  5.47  2,510  0.58  0.76  1.55 
Vein   355.88 2.29  4.01  580  0.36  3.84  5.07 
Incl. 355.88 0.72  5.89  739  0.32  1.72  7.07 
 SWITCHBACK
518012 21.5 Susana N   149.15 0.75  3.16  29  0.20  1.15  3.07 
518013 -40.5 Soledad HW   101.90 3.58  1.77  29  0.63  1.62  5.96 
Incl. 104.46 1.02  4.73  21  0.45  0.76  4.82 
Soledad   115.97 4.17  4.17  63  0.68  0.81  1.55 
Incl. 117.00 1.25  7.45  102  0.63  1.12  1.87 
518014 -51.5 Soledad HW2   118.52 3.78  0.69  102  0.44  2.94  5.63 
Incl. 120.80 1.50  1.56  83  0.94  4.18  9.18 
Soledad   133.62 3.70  0.05  177  0.82  1.08  5.21 
Incl. 135.00 1.20  0.10  329  0.97  1.91  10.60 
518017 29 Soledad HW2   134.85 0.53  2.58  43  1.09  0.75  3.71 
Soledad HW1   138.93 1.89  3.09  23  0.42  0.65  2.84 
Soledad   144.57 6.60  2.87  16  0.25  0.23  1.43 
Incl. 145.76 0.54  4.71  14  0.22  0.19  3.17 
Incl. 150.07 1.10  4.42  36  0.29  0.39  2.18 
518020 20.5 Soledad   143.65 16.95  6.21  80  0.52  1.76  4.50 
Incl. 145.00 2.20  9.28  81  0.87  2.00  8.93 
Incl. 147.20 1.30  25.10  244  0.91  2.41  5.10 
518024 -8 SB North   209.88 1.46  1.33  190  0.09  0.48  0.80 
Incl. 210.52 0.82  1.03  312  0.03  0.06  0.16 
 Assays by ALS, Vancouver, BC Canada.  Meters Down Hole, Not true width.  “HW” = Hanging Wall. 

About GRC:

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.  The Company targets low capital expenditure projects with potential for generating high returns on capital.  The Company has returned $111 million back to its shareholders since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.  For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

Cautionary Statements:

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate.  Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company’s 10-K filed with the SEC.
Contacts:
Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/66a748ea-dcd0-43b3-b2f7-53f34fc60a32

Categories
Blog

TOM WHEELWRIGHT | This Is Why Depreciation Is Like Magic

I think depreciation is like magic.

When done properly, it can take rental real estate with positive cash flow and turn it into a loss for tax purposes.

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You’re invited to The CPA-Revolution Masterclass with me.

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Dec 6-8, 2018

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It’s common to break out land and building in a rental property for depreciation purposes, but there are many more components to consider. These additional components may include appliances, parking structures, landscaping, furniture, fixtures, and much more. Most importantly, these additional components can be depreciated much faster than land and building.

The result is accelerated depreciation which means more depreciation can be taken sooner.

Keep this in mind: Accelerated depreciation is a long term strategy

The decision to accelerate depreciation should be part of a long term tax strategy. While the tax benefits can come immediately, there needs to be a focus on the future to truly maximize the benefits.

Accelerated depreciation often results in more gain when the property is sold.

On top of that, the depreciation taken may be recaptured when the property is sold which means a portion of the gain (the portion attributable to the depreciation) may be taxed at ordinary tax rates.

So how is any of this good news for accelerated depreciation?

Here’s how. The worst case scenario with accelerated depreciation is that the tax is deferred to a later year. You take the bigger deductions now, enjoy the tax savings now and then pay tax on it later in the form of more gain.

If you’ve heard me speak, then you probably know deferral is my least favorite type of tax planning, so you may be wondering why I think accelerated depreciation is so important in a tax strategy.

The reason is that deferral is the worst case outcome, and as far as tax planning goes, while deferral isn’t my favorite, it can still help minimize taxes. So even the worst case scenario is still good for tax planning.

But even better, there are other possible outcomes that can reduce or eliminate the future tax impact of accelerated depreciation.

A long term strategy is the solution to minimizing or eliminating the future tax impact of accelerated depreciation.

Here are a few examples:

Strategy #1

Not all depreciation recapture is taxed as ordinary income. Some depreciation recapture has a lower tax rate. This means you take the deduction at a higher rate and report the income at a lower rate – this results in permanent tax savings.

The key is making sure you are in the right tax brackets now and in the future.

Strategy #2

Another example is using like-kind exchanges in your long term tax strategy. With like-kind exchanges, it is possible to avoid depreciation recapture entirely.

Strategy #3

If your long term strategy is to hold the property and pass it to your heirs, then that can work to avoid depreciation recapture.

Strategy #4

A plan to regularly buy rental property can provide a steady source of accelerated depreciation and compensate for lower depreciation on properties entering the older stages of their depreciable lives.

While there can be many traps with accelerated depreciation, there are also many ways to plan around them with a long term strategy.

Dec 6-8, 2018

If you already have a trusted tax advisor…

..be sure to tell them about my FREE, 3 Day event just for CPAs, the CPA-Revolution Masterclass. Just forward this email, and click here to learn more about the event.

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Precious Metals

JUNIOR MINING | Rise Gold Issues Stock Options

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2018) – Rise Gold Corp. (CSE: RISE) (OTCQB: RYES) (“Rise Gold” or the “Company“) announces the grant of 2,900,000 stock options to employees and directors of the Company pursuant to the terms of the Company’s Stock Option Plan. The options are exercisable at $0.10 per share for a period of five (5) years and expire on November 29, 2023.

About Rise Gold Corp

Rise Gold is an exploration-stage mining company. The Company’s principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA. The Idaho-Maryland Gold Mine is a past producing gold mine with total past production of 2,414,000 oz of gold at an average mill head grade of 17 gpt gold from 1866-1955. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com. Rise Gold is incorporated in Nevada, USA and maintains its head office in Vancouver, British Columbia, Canada.

On behalf of the Board of Directors:

Benjamin Mossman
President, CEO and Director
Rise Gold Corp.

For further information, please contact:

RISE GOLD CORP.
Suite 650, 669 Howe Street
Vancouver, BC V6C 0B4
T: 604.260.4577
info@risegoldcorp.com
www.risegoldcorp.com

The CSE has not reviewed, approved or disapproved the contents of this news release.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks, uncertainties and assumptions related to certain factors including, without limitation, obtaining all necessary approvals, meeting expenditure and financing requirements, compliance with environmental regulations, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. Rise undertakes no obligation to update forward-looking statements or information except as required by law.

Categories
Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Provides Additional Disclosure on Discretionary Bonuses

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2018) –  EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”)provides additional disclosure regarding the US$3.8 million in bonuses announced in its asset portfolio and corporate update on November 28, 2018. This additional disclosure includes a summary of the rationale, approval process, recipients, and allocations related to the bonus.

Bonus Rationale

The Board awarded the bonuses to EMX’s management and staff in respect of their seven years of effort to monetize the Company’s investment in IG Copper LLC (“IGC”). Their efforts included:

(1) identification of the investment opportunity;
(2) providing significant technical oversight towards the discovery of a world class copper deposit at Malmyzh;
(3) raising the capital necessary to advance Malmyzh despite challenging markets and jurisdictional risks;
(4) coordinating the sales effort for Malmyzh over a period of several years;
(5) managing an exit with Freeport, including arranging an US$18.5 million bridge loan, which led to a greater return for all of IGC’s shareholders, not the least of which was EMX 40% shareholding; and
(6) assisting IGC with the successful sale of Malmyzh to a wholly owned subsidiary of Russian Copper Company (“RCC”) in October for US$200 million.

The transaction with RCC took 10 months to complete and required numerous complicated steps, including obtaining approval from the Russian Federal Anti-Monopoly Service. The successful outcome was due, in large part, to the significant efforts of EMX’s team, IGC’s team, and IGC’s advisors, Scotia Bank Europe plc and the London office of Norton Rose Fulbright LLP. In the opinion of EMX’s Board of Directors, this was sound and proper rationale for the bonuses paid.

Bonus Approval Process

Prior to the Malmyzh sales transaction, EMX’s management had developed a bonus plan for strategic investments whereby 7.5% of the after-tax profits of an individual investment could be paid as a bonus to EMX’s management and staff. As part of the bonus calculation, the Company’s cost basis was increased annually by 10% to reflect the time value of the investment.

The strategic investment bonus calculation, along with management’s recommended allocation of bonuses, was then submitted to the Compensation Committee of EMX’s Board for its review. The Compensation Committee is comprised of three independent directors. The Committee met several times over the past four months, both with management and independently of management, as part of the approval process. The Committee recommended the US$3.8 million bonus pool and allocation to the Company’s Board. The independent members of the Board unanimously approved the bonus pool and allocation with Dave Cole and Michael Winn abstaining from voting.

Bonus Allocation

The Board has awarded the bonuses to EMX’s Chairman and all of EMX’s management and staff (which includes support staff in Vancouver provided by Seabord Services Corp). Bonuses were not paid outside the Company.

The two largest awards were paid to David Cole and Michael Winn as they actively managed the Company’s investment in IGC for the past seven years. The Compensation Committee also felt it was important to award significant bonuses to senior management regardless of time spent on the investment as a win of this type is a team effort. The bonus allocations are as follows:

Name Position
Amount
(US$)
David M. Cole1 President & CEO 1,100,000
Michael Winn1 Chairman of the Board 1,000,000
Eric Jensen1 General Manager – Exploration 400,000
Dave Johnson1 Chief Geologist 400,000
Christina Cepeliauskas Chief Financial Officer 175,000
Jan Steiert Chief Legal Officer 175,000
Other EMX Staff 560,000
TOTAL 3,810,000

1 A portion of the bonuses to be paid to Dave Cole, Michael Winn, Eric Jensen,and Dave Johnson will be paid once the Company receives the final distribution by IGC related to escrowed funds.


About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements“ that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,“ “anticipate,“ “will“, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the“MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Categories
Precious Metals

MILES FRANKLIN | Will Silver Shorts End Up Like ShortSellers.com?

Chris Marcus-Contributing Writer For Miles Franklin
Will Silver Shorts End Up Like ShortSellers.com?
Written by Chris Marcus of Miles Franklin
Last week a fund called OptionSellers.com blew up. Primarily because they aggressively shorted an asset and left themselves with virtually unlimited risk. Which when the market moved against them, not only wiped out all of their capital. But left some customers actually even owing additional money.
Which is worthwhile to take note of for those involved in the silver market. Where there is an unbacked paper short position that cannot be covered with physical metal. And has left many exposed to an outcome potentially quite similar to what the investors of the OptionSellers.com fund just experienced.
For a long time it was the bullion banks that owned the majority of the short position. Although in recent years that has amazingly been unwound, and passed off to the technical hedge funds that now own it. Which means that the investors of these funds are short an asset with virtually unlimited upside whenever the paper vs. physical imbalance is resolved.
Will Silver Shorts End Up Like ShortSellers com
Now being short silver at $14 simply because the 50 or 200 day moving average moved lower never really struck me as a significant enough reason to be short. Especially when the supply and demand fundamentals indicating an eventual move to the upside remain so pronounced. Now even more so following the recent news that J.P. Morgan traders have indeed been manipulating the market, with further attention being placed on the case.
As a result, the conditions for the short squeeze of a lifetime are in place. Which means that at the same time silver is rising, these funds are going to have to buy back their position. But from who? Certainly after the banks have gone to all of the effort of unwinding their short position and now getting long, it’s hard to imagine them letting the hedge funds off the hook easily.
And this is one of the dangers of being short any asset. Because every night you go to sleep with virtually unlimited risk. Which in this case I’m guessing most of the investors in these funds don’t even realize they are exposed to.
As a former equity options market maker on the New York Stock Exchange, I’m well familiar with the risks of being short. Especially being short options. Which is not to say that there are not appropriate times to short an asset, but rather that it’s darn well worth being aware of the risk. Especially now as the investors of the OptionSellers.com fund found out that they can lose even more than their original investment.
While investing in precious metals, and silver in particular over the past decade has not been the easiest and most rewarding experience, it has been one of the more fascinating financial events to follow along.
Especially now as the rumors of manipulation are being increasingly documented and supported by legal confessions and guilty pleas. Indicating that those who have explained the pricing as being distorted by manipulation have turned out to be correct. And with those who were correct on that matter also continuing to reiterate that prices at some point are simply going to have to rise.
If you are invested in one of these funds that is short silver, I would highly recommend taking a look at this report that explains why the price of silver is set to explode. Because outside of the technical funds reacting to the moving averages, I haven’t even heard of anyone attempting to make a case for why silver would go much lower from here (if you have, or if you have any questions about this article or the market, please email me here).
So given all of the factors indicating why at some point the price will almost necessarily have to rise, pulling your money out of a fund that is short silver and getting long yourself (much like the banks controlling the action have done) remains a timely way of avoiding Wall Street’s latest upcoming debacle.
While also keeping your money safe and taking advantage of the eventual resolution of this glaring market imbalance.
-To buy or sell gold and silver call Miles Franklin today at (1-800-822-8080).
-Or get Miles Franklin’s detailed report on why the price of silver is set to explode.
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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.
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Categories
Precious Metals

JUNIOR MINING | Great Bear Reports Continuity of Gold from Surface to 365 m Depth in Dixie Limb Zone, Dixie Project, Red Lake District

Vancouver, British Columbia–(Newsfile Corp. – November 29, 2018) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”, TSX-V: GBR) today reported results from drilling of the Dixie Limb Zone (“DLZ”) completed during the Company’s summer 2018 drill program, and designed to test continuity of gold mineralization to depth. The DLZ is a multi-kilometre gold-mineralized contact that is located north of Great Bear’s recent high grade gold discoveries at the Hinge and South Limb Zones, and was the target of most historical drilling.

Great Bear also reports that 15 additional drill holes have now been completed in the Hinge and South Limb Zones (“SLZ”). Results are expected in one to two weeks and are not included in this news release.

Great Bear has systematically surveyed 108 historical drill collars and completed gyroscopic downhole surveys of 66 historical drill holes within the DLZ to-date. Results indicate many historical holes were mis-located, with maximum deviations approaching 100 metres, and historical drill directions deviated significantly from plan due to magnetic host rocks. These errors led to incorrect historical interpretations including that gold mineralization in the DLZ occurred in en-echelon lens-like zones lacking vertical continuity.

The Company tested vertical continuity of the DLZ’s gold mineralization with a series of 9 drill holes from 26 metres to 365 metres depth. All holes tested areas previously interpreted as unmineralized and cited as lacking geological continuity. All holes successfully intersected gold mineralization.

Highlights of the latest 9 drill holes testing the DLZ include:

  • Intercepts of 6.71 g/t gold over 3.10 metres and 6.16 g/t gold over 2.30 metres, establishing continuity of gold mineralization into areas previously deemed to be unmineralized
  • DLZ mineralization generally increases in thickness and gold grade with depth
  • Intervals of higher grades (>6 g/t gold) were intersected in 5 of the 9 holes
  • A newly identified parallel mineralized zone was intersected in one of the two deepest holes at 307 metres vertical depth in drill hole DL-031

Chris Taylor, President and CEO of Great Bear said, “While much of the past exploration work at Dixie was high quality, later interpretations of zone geometries were hampered by incorrect data. Using oriented drill core and gyroscopic surveys, we have cut through the effects of the magnetic background rocks which skewed past drilling and observe a consistent mineralized zone at the DLZ structure, including several steeply-plunging high-grade zones. This mineralization is open along strike and at depth. While more than 360 metres of continuity is a strong start, gold deposits in Red Lake often extend to kilometres of depth, and from that perspective we are only just scratching the surface of this zone’s potential.”

The most recent drill results are provided in Table 1. Highlighted results from the 2.3 kilometres of strike length of the DLZ drilled to-date are provided in Table 2. A summary of results of ongoing historical drill hole surveying is provided in Table 3. An updated long section of the DLZ including names and locations of various high-grade zones that will be targeted during the current drill program are provided in Figure 1. A map of current drill collars is provided in Figure 2.

Table 1: New drill results from the DLZ, showing vertical depth of intercepts. Drilling targeted previously interpreted unmineralized areas. Drilling is insufficient to determine true widths.

Drill Hole From (m) To (m) Width (m) Gold (g/t) Vert. Depth (m)
DL-028 34.60 39.70 5.10 4.34 26
DL-028 including 35.60 38.70 3.10 6.71
DL-028 and including 36.10 38.20 2.10 8.10
DL-032 61.95 67.35 5.40 1.06 40
DL-029 46.70 50.70 4.00 3.23 41
DL-029 including 47.70 49.60 1.90 4.44
DL-029 and 76.00 78.00 2.00 3.33 69
DL-026 81.55 84.00 2.45 2.48 69
DL-026 83.40 84.00 0.60 4.59
DL-030 74.20 76.50 2.30 2.64 69
DL-027 382.70 403.50 20.80 1.60 304
DL-027 and including 387.30 388.30 1.00 6.09
DL-027 and including 387.30 387.80 0.50 10.70
DL-027 and including 397.50 399.00 1.50 4.46
DL-031 Zone 1 335.20 337.50 2.30 6.16 257
DL-031 including 336.30 337.50 1.20 9.27
DL-031 Zone 2 423.25 433.85 10.60 1.39 324
DL-031 including 432.00 433.85 1.85 3.84
DL-031 and including 432.00 432.60 0.60 6.03
DL-037 334.70 349.60 14.90 1.85 321
DL-037 including 335.30 335.85 0.55 7.74
DL-037 and 344.90 346.85 1.95 6.32
DL-036a 358.50 362.10 3.60 2.50 346
DL-036a including 360.50 362.10 1.60 5.12
DL-036a and including 361.60 362.10 0.50 10.17
DL-036a and 368.45 377.90 9.45 2.38
DL-036a and including 369.60 371.25 1.65 4.07
DL-036a and including 377.40 377.90 0.50 15.67 365

Table 2: Highlighted results from previous DLZ drilling to-date

Drill Hole From(m) To(m) Width(m) Gold(g/t) Vertical Depth (m)
DL-04-04 228.15 232.77 4.62 9.75 190
DL-04-06 333.3 345.67 12.34 7.54 323
including 335.42 342.49 7.07 12.26
and incl. 335.42 336.88 1.46 40.27
DL-11-05 132.2 138.5 6.30 10.78 116
including 134.7 138.5 3.80 14.76
and incl. 135.8 137 1.20 30.48
DL-005 162.6 173 10.40 16.84 128
including 164.6 172.45 7.85 21.53
and including 171.4 172.45 1.05 130.10
DNW-001 52.6 58.2 5.60 3.52 38
including 56.8 58.2 1.40 12.74
DL-013 47.7 88 40.30 1.73 40
including 47.7 50 2.30 6.01
including 58 70.3 12.30 3.13

Table 3: Surveying results to-date showing deviations in historical results

Type
Number of Holes 
Completed To-Date
 Results
Differential GPS
survey of drill
collar locations		 225
(104 historic)		 Average horizontal shift of 4.39 m. Maximum horizontal shift of +/- 83.0 m E and +/- 51.72 m N. Average vertical shift of 4.03 m. Maximum vertical shift of +/- 51.67 m.
Non-magnetic
(gyroscopic)
downhole survey		 66 Average deviation change of 7.95 m at the end of each drill hole. Maximum shift of 148 m at end of drill hole. Significant errors were also observed by Great Bear geologists when using a compass at surface.
Re-logging and
sampling of
historic core		 35 Identified key lithological units and collected 1,566 samples for gold and ICP analysis

Figure 1: Long section through the DLZ as drilled to-date showing currently reported drill results and locations of planned drill holes. The “88-4”, “5”, “Gap” and “88-4 Extension” zones are shown. All drill holes that intersect the DLZ contact in this area are shown. Areas without pierce points or composite intervals have not yet been drilled. Zone is open along strike and at depth.

Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/0a3ee59eb2f7784731541703b3919009
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/0a3ee59eb2f7784731541703b3919009

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_002full.jpg

The Company is now conducting a 30,000 metre, 150 drill hole drill program that is expected to continue through 2018 and 2019. Targets to be drilled include the Hinge Zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project. Results will continue to be released in batches as received.

Highlights of all of Great Bear’s drill results can be viewed at the Company’s web site at www.greatbearresources.ca

Figure 2: Plan map showing updated collar locations of current and pending drill results

Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/80a39ba4918c35e40bdb91bc77c7d941
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/80a39ba4918c35e40bdb91bc77c7d941

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_003full.jpg

About Great Bear

The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s Madsen property. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

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

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor