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Lion One Announces Record Gold Production at Tuvatu, Increases Plant Expansion, Expands Surface Footprint South of Tuvatu, Updates Technical Report

Post author By admin
Post date June 27, 2024

North Vancouver, British Columbia–(Newsfile Corp. – June 26, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report record preliminary gold production at Tuvatu for the month of June and significantly expands the surface gold-in-soil anomaly to the south of Tuvatu. The company also announces an increase in the planned mill expansion to 600-700 TPD, and files an updated NI43-101 compliant Technical Report with an effective date of June 24, 2024.

Gold production at Tuvatu has steadily increased since the completion of mill commissioning in December 2023/January 2024. A step change in production occurred in June following the commencement of mechanized production. The total gold recovered for the month of June up to and including June 24^th is approximately 1370 oz of gold, with projected gold recovered of approximately 1700 oz for the month.

Soil sampling to the south of Tuvatu has revealed a 650 m extension of anomalous gold at surface. High-grade gold in soil results were recovered along a north-south corridor directly south of and along strike from the known deposit at Tuvatu. The gold anomaly is coincident with wider arsenic, lead, and zinc anomalies, which are known pathfinders for gold, thereby widening the potential footprint of the gold mineralization. The Tuvatu deposit has a north-south strike length of approximately 950 m. The southern soil extension therefore represents a potential 70% increase in the overall strike length of Tuvatu. These soil results are a significant discovery at Tuvatu and represent a prime target for near-mine exploration and resource expansion. They highlight the potential for more discovery both near-mine at Tuvatu and regionally throughout the Navilawa Caldera.

The planned mill expansion has been increased to 600-700 TPD. The current pilot plant operation has a name plate capacity of 300 TPD, and the originally planned expansion was to 500 TPD. The expansion has now been increased to 600-700 TPD, which represents a doubling of the name plate capacity at Tuvatu. The expansion is expected to be complete in mid-2025.

Highlights:

Record gold production for the month of June
Consistent month-over-month increase in gold production since January 2024
650 m high-grade gold-in-soil anomaly extension to the south of Tuvatu
Coincident arsenic-, lead-, and zinc-in-soil anomalies
Potential 70% increase in strike length of Tuvatu
Increased planned mill expansion to 600-700 TPD

Figure 1. Gold Dore Bars Poured at Tuvatu. Gold doré bars poured for the June 25^th, 2024 gold sale.

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Gold Production

Figure 2. Tuvatu Monthly Gold Production. Gold recovery and production has increased steadily at Tuvatu as mining and processing activities have ramped up during the pilot plant phase of operations. Projected gold recovery for June is approximately 1700 oz with approximately 1370 oz recovered as of June 24^th.

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Gold production at Tuvatu has steadily increased since the first gold pour in October 2023 and the completion of mill commissioning in December 2023/January 2024. Record gold production of approximately 1700 oz is projected for June 2024, with 1370 oz of gold already recovered as of June 24^th, 2024. This is a step change increase in production from previous months and is a result of the onset of mechanized production mining at Tuvatu.

During the period from October 2023 to May 2024, the majority of the material mined at Tuvatu was development material, with limited production material resulting from handheld mining methods. Mechanized production mining commenced in mid-May with the first long hole stope blast occurring on May 18^th, as reported in the June 5, 2024 news release. The proportion of production material being processed at Tuvatu has therefore increased in May and June, with further increases expected as the mine continues to develop.

Long hole stoping is ongoing both in Zone 2 and in Zone 5. In Zone 2, where the deposit is characterized by a large stockwork zone of mineralization, the mining widths are 10 m to 12 m wide. In Zone 5, where the deposit is characterized by high grade narrow vein mineralization, the mining widths are 0.9 m to 1.2 m wide.

Plant Expansion

Mill throughput at Tuvatu has also increased steadily from January to June 2024. The current name plate capacity of the Tuvatu processing plant is 300 TPD. As a result of improved efficiency initiatives, the plant is now capable of operating sustainably at over 400 TPD. This has resulted in steadily increased tonnage from February to May with a record throughput of over 11,000 tonnes in May. Mill throughput in June is projected to be over 10,000 tonnes (Figure 3).

The Tuvatu processing plant is a modular processing plant that was originally planned for a staged expansion up to 500 TPD. As a result of the successful mining operations and the increased throughput achieved at the 300 TPD capacity, the company is now planning to expand plant operations from 300 TPD directly to 600-700 TPD. This is expected to double mill throughput and production at Tuvatu. The plant expansion is anticipated to be complete in mid-2025.

Figure 3. Tuvatu Monthly Mill Throughput. Mill throughput at Tuvatu has steadily increased since the first gold pour in October 2023. A significant increase in production was achieved from February to May as a result of the successful implementation of debottlenecking and efficiency improvement initiatives at the plant.

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Soil Sampling and Gold Extension

As part of Lion One’s regional exploration program, a near-mine soil sampling program has been completed. The soil program is divided into two halves: the West Grid and the East Grid (Figure 4). The West Grid encompasses the area immediately to the West of Tuvatu, including the West Zone, as well as the area immediately to the south of Tuvatu. The East Grid encompasses the area immediately to the east of Tuvatu.

Figure 4. Tuvatu Soil Sample Locations. The 2024 near-mine soil sample program is divided into two sections – a West Grid and an East Grid.

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The soil sampling program consisted of 25 m spacing between samples and 100 m spacing between sample lines. Samples were collected from the B or C horizon of the soil profile by means of hand auger with extension rod. A total of 549 samples were collected across 14 lines in the West Grid, with a total of 521 samples collected across 17 lines in the East Grid, for a total of 1070 samples across both grids. Assay results from the West Grid have been received whereas those from the East Grid are still outstanding. Peak gold assay results returned from the West Grid are 1.66 g/t, 0.65 g/t, 0.57 g/t, and 0.51 g/t gold, which are significantly above background values and are considered very high-grade for soil samples. A total of 19 samples returned gold assays above 0.1 g/t gold. This compares favourably to the Tuvatu deposit itself, which is associated with a 0.05 g/t surface gold-in-soil anomaly from historic auger soil surveys. Soil assay results above 0.1 g/t gold are available in Table 3 in the appendix.

Assay results from the West Grid indicate a clear 650 m long north-south gold anomaly immediately to the south of and along strike from the known mineralization at Tuvatu. The Tuvatu deposit has a known strike length of 950 m and therefore these results indicate a potential 70% increase in the strike length of Tuvatu. The gold-in-soil anomaly is coincident with wider arsenic, lead, and zinc anomalies, all of which are known pathfinders for gold, thereby increasing the strength of the anomaly. These soil results are a new discovery at Tuvatu and represent a prime target for near-mine exploration and resource expansion. Making such a significant discovery in close proximity to Tuvatu highlights the potential for more discovery both near-mine at Tuvatu and throughout the Navilawa Caldera. Strong gold soil assay results were also observed in the West Zone.

In 2023 Lion One upgraded the multi-element assay capacity at its Nadi laboratory. This increase in capacity has enabled Lion One to incorporate widespread soil sampling into its exploration program. Throughout 2024 and 2025 further soil sampling campaigns will be completed targeting extensions of Tuvatu, as well as gold only and copper-gold targets throughout the Navilawa caldera.

Figure 5. Gold Soil Assay Results, West Grid. The gold assay results from the West Grid soil sampling program reveal a clear 650 m long north-south anomaly directly south of and along strike from the Tuvatu deposit. This represents a potential 70% increase in the strike length of Tuvatu and is a prime target for near-mine exploration and resource expansion. Strong gold results are also observed in the West Zone.

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Figure 6. Arsenic, Lead, and Zinc Soil Assay Results, West Grid. The arsenic, lead, and zinc assay results from the West Grid soil sampling program also reveal a strong north-south anomaly directly south of and along strike from the know deposit at Tuvatu.

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It is important to note that the gold assays reported here exhibit a binary grade distribution whereas a bell curve distribution would be expected to result from a soil sample grid. Low grade gold assay results appear to be under-represented in the soil survey and an investigation is underway to determine if this is due to higher than expected detection limits in the lab. The under-representation of gold assays has been highlighted by the failed detection of low grade QAQC Samples (0.016 and 0.049 g/t Certified Reference Material). Higher grade QAQC samples performed successfully with respect to accuracy and precision indicating that the high gold in soil values are valid. Duplicate samples will be sent to ALS Australia to determine the low-grade gold results. With a bell curve distribution of gold assay results it would be expected that the gold anomalies presented in Figure 5 would broaden out with low grade results, similar to the arsenic, lead, and zinc anomalies seen in Figure 6.

NI 43-101 Technical Report

Lion One Metals has SEDAR-filed an updated NI 43-101 Technical Report for Tuvatu with an effective date of June 24, 2024. An independent mineral resource estimate (MRE) has been carried out for gold contained in the portion of the Tuvatu Property that is currently being developed and mined. The effective date of the MRE is March 25, 2024, and is based on a drillhole dataset in csv format, 69 wireframes representing mineralized veins and zones in the Tuvatu deposit, as well as underground development as of March 24, 2024, all in dxf format and all provided by Lion One. Two wireframes representing satellite mineralization around Zones Two and Five that were not captured by the wireframes for those zones were provided by Lion One on April 05, 2024.

The drillhole database, including pre-Lion One drilling, contained 7,592 collar locations and 240,002 assays for gold. Some samples fall outside the limits of the MRE, and their exclusion resulted in a useable data set of 233,703 assays. Assays for sludge (69) and face (channel) samples (6,205) were removed from the data set. The sludge samples were removed because the source location of their assay values cannot be established with sufficient accuracy for use in an MRE. The face samples were removed because attempts to reconcile estimated resources against mined resources within Zone Two resulted in an overestimation of gold present when face samples were included in the dataset. A further 30 samples were removed because they had anomalously long lengths and were either of unidentified source or had not been sampled. The resultant imported dataset included 1,288 collars and 233,703 gold assays. All sample data used for the MRE was obtained from drill core samples (85%) and reverse circulation cuttings (15%).

The estimated tonnes and ounces of gold represented by the Underground Development were subtracted from the estimated tonnes and ounces of gold estimated for the 69 Domains and the net (depleted) resource within the 69 Domains is reported as the current MRE. The resource within the Outside Domains is reported separately. Blocks were classified as Indicated or Inferred. For the 69 Domains, classification was carried out using all composites for all 69 domains. Classification of the Underground Development was carried out using composites for only that domain. In both cases, interpolation was by ID². The Outside Domains were classified as Inferred. The search ellipse for the Indicated class is of the same dimensions as that used for the first interpolation pass for most domains. The Inferred classification was designed to capture all blocks in each domain that fall outside the Indicated category.

Table 1 summarizes the Tuvatu MRE for the 69 Domains by Class. The left-hand columns of the table show the gross tonnes and ounces within the 69 Domains, the central columns show the tonnes and ounces in the Underground Development, and the right-hand columns show the resources in the 69 Domains net of the tonnes and ounces in the Underground Development. The base case is taken as 3 g/t and is highlighted. Table 2 shows the resource in the Outside Domains. The 3 g/t base case is highlighted.

Table 1. Tuvatu 69 Domains Mineral Resource Estimate Summary Net of Underground Development

CutOff Au g/t	Classification	69 Domains Gross			Underground Development			69 Domains Net
		Au g/t	Tonnes	Ounces	Au g/t	Tonnes	Ounces	Au g/t	Net Tonnes	Net Ounces
4	Indicated	9.95	500,000	160,000	5.00	8,000	1,300	10.05	492,000	159,000
4	Inferred	9.47	958,000	292,000	5.22	2,000	300	9.50	956,000	292,000
3	Indicated	8.41	655,000	177,000	4.44	14,000	2,000	8.48	642,000	175,000
3	Inferred	7.61	1,388,000	340,000	4.43	3,000	500	7.62	1,384,000	339,000
2	Indicated	6.89	880,000	195,000	3.84	19,000	2,300	6.97	861,000	193,000
2	Inferred	5.99	2,023,000	389,000	4.23	4,000	500	5.99	2,019,000	389,000

Table 2. Tuvatu Mineral Resource Summary for Outside Domains

CutOff Au g/t	Classification	Aug/t	Tonnes	Ounces Au
4	Inferred	11.72	8,000	3,000
3	Inferred	9.32	11,000	3,000
2	Inferred	7.47	15,000	4,000
a) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. b) There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. c) Mineral Resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding. d) The base case is based on a 3 g/t Au cutoff and cost estimates for mining of US$56/tonne, processing of US$56/tonne and G&A of US$25/tonne; gold recovery of 80%; and a three-year trailing gold price of US$1,973/ounce. e) Mineral Resource tonnage and grades are reported as undiluted. f) The effective date of the mineral resource estimate is March 25, 2024

The MRE in the NI 43-101 Technical Report was prepared independently by Gregory Z. Mosher, P. Geo. with cooperation and information from Lion One geologists. Other portions of the Technical Report were prepared by Darren Holden, Ph.D., FAusIMM and William J. Witte, P.Eng. Messrs. Mosher, Holden and Witte have read and approved this news release, and consent to the inclusion in this news release of the matters based on form and context of the June 24, 2024 “NI 43-101 Technical Report and Mineral Estimate Tuvatu Gold Project.”

The Technical Report is available for download from SEDAR and from the company’s website.

Competent Persons Statement

The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Alex Nichol, who is the company’s Vice President of Geology and Exploration. Mr Nichol is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC code). Mr Nichol has read and approved this news release and consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged and split by Lion One personnel on site and delivered to the Lion One Laboratory for preparation and analysis. All drill samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

For soil samples, 2 samples (A & B) of 2 kg each are taken using a hand auger at each sampling site. The A- sample is then dried and sieved using -80 stainless steel mesh at the Lion One Laboratory and assayed for gold and multi-element. Each batch of 50 samples will have one specific low-grade CRM, one blank and one duplicate. The B duplicate sample is retained for further testing.

Due to the elevated gold detection limits observed at the Lion One laboratory (not suitable for less than 100 part per billion analysis), a sub-set of the soil campaign will be sent to ALS in Australia. The sub-set will be based on the area defined by the multi-element soil anomaly as defined by the associated pathfinder elements (As, Cu, Pb, Te and Zn). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Soil Survey Results

Table 3. Soil Survey Results and Sample Coordinates.
Assay results >0.01 ppm Au, listed in descending gold grade. Coordinates are in Fiji map grid.

Campaign	Sample ID	Easting	Northing	Elevation	Au (ppm)	As (ppm)	Cu (ppm)	Pb (ppm)	Zn (ppm)
West Grid	TUS042758	1875872	3920795	158	1.66	85.87	356.88	15.73	68.52
West Grid	TUS042992	1876426	3919800	513	0.65	44.54	107.33	185.56	448.61
West Grid	TUS029726	1876200	3920502	251	0.57	38.32	291.54	39.55	128.75
West Grid	TUS042757	1875898	3920801	153	0.51	38.28	430.55	19.55	95.53
West Grid	TUS042760	1875827	3920804	141	0.46	60.54	723.80	17.17	77.05
West Grid	TUS043419	1876475	3919899	490	0.32	27.55	45.14	157.49	531.85
West Grid	TUS043473	1876476	3919699	565	0.32	14.41	145.29	1026.32	625.58
West Grid	TUS043040	1876450	3919600	566	0.30	-2.00	200.42	418.29	1004.67
West Grid	TUS042994	1876374	3919799	484	0.25	30.01	100.61	113.63	406.11
West Grid	TUS042990	1876475	3919801	551	0.21	18.51	115.49	203.49	421.93
West Grid	TUS042991	1876451	3919800	533	0.20	35.83	52.98	125.98	259.39
West Grid	TUS043418	1876499	3919899	499	0.16	49.00	41.27	188.75	368.49
West Grid	TUS043051	1876150	3919600	525	0.14	15.58	137.55	36.04	51.03
West Grid	TUS043361	1876450	3920100	424	0.13	89.51	48.90	17.55	112.42
West Grid	TUS042763	1875747	3920803	131	0.12	30.72	268.30	19.86	69.08
West Grid	TUS043372	1876199	3920099	375	0.12	6.04	396.43	22.94	141.70
West Grid	TUS043427	1876272	3919903	419	0.12	28.69	783.24	28.20	116.41
West Grid	TUS042914	1875424	3920199	235	0.11	-2.00	134.17	28.84	73.74
West Grid	TUS043022	1875650	3919800	365	0.11	23.85	347.85	28.16	64.32
West Grid	TUS042932	1876425	3920000	451	0.09	81.77	94.32	59.56	90.20
West Grid	TUS043475	1876402	3919705	518	0.09	-2.00	170.74	100.30	288.02
West Grid	TUS029715	1875850	3920700	197	0.08	20.04	818.54	23.83	67.94
West Grid	TUS042935	1876349	3920000	412	0.08	31.13	126.37	110.99	290.18
West Grid	TUS042830	1876200	3920200	395	0.07	24.15	763.27	31.47	194.71
West Grid	TUS042995	1876351	3919800	472	0.07	7.89	119.15	70.05	269.94
West Grid	TUS042828	1876249	3920201	412	0.06	5.77	225.06	7.17	77.48
West Grid	TUS042841	1875952	3920199	429	0.06	14.74	335.24	38.75	83.08
West Grid	TUS042915	1875400	3920200	216	0.06	-2.00	94.37	37.65	159.21
West Grid	TUS042934	1876375	3920000	424	0.06	49.60	139.55	21.79	63.75
West Grid	TUS043311	1876201	3920299	295	0.06	4.97	220.44	26.12	87.26
West Grid	TUS043472	1876549	3919700	603	0.06	-2.00	158.47	216.27	625.89
West Grid	TUS043474	1876451	3919700	551	0.06	7.76	93.72	164.40	735.42
West Grid	TUS043610	1877225	3921000	308	0.06	9.18	150.51	22.62	52.68
West Grid	TUS042832	1876174	3920201	392	0.05	2.61	1328.20	84.90	460.19
West Grid	TUS043602	1875570	3919501	395	0.05	7.93	175.16	28.39	60.61
West Grid	TUS043639	1876749	3920999	230	0.05	5.12	196.58	6.42	77.58
West Grid	TUS042933	1876401	3920000	435	0.04	7.09	92.96	14.78	46.70
West Grid	TUS042929	1876476	3920000	476	0.03	59.58	113.89	98.82	119.73
West Grid	TUS042997	1876300	3919800	466	0.03	2.36	124.99	29.54	143.92
West Grid	TUS043009	1875975	3919800	450	0.03	14.16	349.91	18.73	26.58
West Grid	TUS043023	1875625	3919800	353	0.03	20.95	289.63	23.01	91.65
West Grid	TUS043067	1875650	3919600	336	0.03	27.25	235.12	51.27	451.76
West Grid	TUS043360	1876477	3920100	433	0.03	33.05	88.13	24.02	593.92
West Grid	TUS042922	1876651	3920001	502	0.02	25.63	43.99	14.76	115.16
West Grid	TUS043052	1876125	3919600	512	0.02	13.94	107.52	38.23	53.83
West Grid	TUS043060	1875950	3919600	438	0.02	12.78	127.97	19.67	46.91
West Grid	TUS043643	1876675	3921000	205	0.02	3.04	111.90	10.98	46.16
West Grid	TUS042928	1876501	3920000	488	0.01	8.67	168.25	123.02	297.71
West Grid	TUS043055	1876075	3919600	490	0.01	24.33	263.76	25.69	177.13
West Grid	TUS043062	1875900	3919600	425	0.01	14.14	188.67	24.05	58.63
West Grid	TUS043603	1875550	3919500	386	0.01	5.20	115.93	29.26	83.84
West Grid	TUS043642	1876695	3921005	206	0.01	11.61	387.47	4.15	116.82
West Grid	TUS043645	1877550	3920900	351	0.01	-2.00	92.61	4.31	40.56

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214384

Energy Junior Mining Precious Metals

Gold79 Saddened by Passing of Director James M. Franklin

Post author By admin
Post date June 27, 2024

Ottawa, Ontario–(Newsfile Corp. – June 27, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces with great sadness the passing last week of the Company’s longest standing Director, Dr. James M. Franklin.

Dr. Franklin, or Jim to his many colleagues across academia and the minerals industry, served as a Director of Gold79 and its predecessor Aura Resources, from its inception in 2003. In 1996, Jim was elected a Fellow of the Royal Society of Canada’s Academy of Science and in 2019 he was inducted into the Canadian Mining Hall of Fame which are just two examples of Jim’s significant achievements among numerous additional awards and recognition across the geoscience world. His contributions to the understanding of the Canadian Shield and associated mineral deposits gained Jim global acclaim. His sharp and inquisitive scientific mind was always on display and contributed to the learning of students and executives alike. Jim was always instrumental in assuring that exploration was based upon solid field work, keen observations and good science.

Derek Macpherson, President and CEO stated, “Jim was a valued colleague and a fountain of knowledge on numerous subjects. His contributions, positive attitude and encyclopedic knowledge of geology and projects will be missed by the entire team at Gold79. We extend our deepest condolences to his family.“

To more fully understand the significance of Jim’s career and lifetime achievements we encourage readers to view the Jim Franklin Tribute Video developed by the Canadian Mining Hall of Fame at this link:

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About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.

For further information regarding this press release contact:

Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214496

Base Metals Energy Junior Mining Precious Metals

Grizzly Targets the Motherlode Crown Grants in the Greenwood District Precious and Battery Metals Project, BC

Post author By admin
Post date June 27, 2024

Edmonton, Alberta–(Newsfile Corp. – June 25, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to provide some highlights of historical information on the Motherlode Crown Grants for which the Company entered a purchase agreement with First Majestic Silver Corp on June 12, 2024, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that, at various times during the early and middle 1900’s, produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 & 2). The Motherlode Crown Grants comprise 13 Crown Grants for a total of 300 acres (121.4 ha) that all retain the subsurface mineral rights and date back to the late 1800’s when they were granted. The Crown Grants take precedence over normal mineral titles mineral claims. The Crown Grants cover a number of historical mines, including the Motherlode that produced 76,975,111 pounds of Cu, 173,319 ounces (oz) of Au and 688,203 oz of Ag during the active periods of mining from 1900 to 1920 and from 1957 to 1962. The Motherlode skarn mineralization is developed in Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible approximately 2.5 km northwest of the town of Greenwood (Figure 1).

Highlights

Drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the pit in the vicinity of the historical underground workings (Figures 2 and 3).
Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 grams per tonne (g/t) Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 3).
The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 oz per ton [opt]) over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 2).
The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorites along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
A drillhole completed on the Great Hopes Crown Grant in 1993 by Orvana Minerals intersected 3.30 g/t (0.096 opt) Au over 25 ft (7.62 m) near surface in faulted sediments beside the Greyhound fault zone with a core zone of 6.69 g/t (0.195 opt) Au over 10 ft (3.05 m) (Figure 2).
Follow-up drilling in 1996 was focused on IP chargeability anomalies and struggled with core recovery in the fault zone – so the zone intersected has not been properly follow-up tested.

Brian Testo, President and CEO of Grizzly Discoveries, stated, “We are excited to complete the acquisition of the historical Motherlode Crown Grants and the targets that they provide. We look forward to aggressive 2024 drilling at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District.“

Figure 1: Land position and targets of interest for future exploration, Greenwood Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_002full.jpg

Figure 2: Motherlode Crown Grants, Historical Drilling and AeroTEM Survey Greenwood Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_003full.jpg

Figure 3: Motherlode Historical Drillhole ML96-8 Greenwood Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_004full.jpg

Summary of the Motherlode Crown Grant Purchase Terms

The Company will cover all costs related to the transfer of the Crown Grants from First Majestic to the Company.
As consideration, Grizzly will issue First Majestic 250,000 common shares of the Company (the “Compensation Shares”) upon closing of the transaction.
At closing, the Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic and retains an option to purchase the NSR Royalty for $250,000 at any time.

The issuance of the Compensation Shares is subject to the acceptance of the TSX Venture Exchange.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available under the Company’s SEDAR+ profile at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214278

Base Metals Emx Royalty Junior Mining Oil & Gas

EMX Royalty Announces the Appointment of Two New Members to the Board of Directors

Post author By admin
Post date April 29, 2024

Vancouver, British Columbia–(Newsfile Corp. – April 29, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce the appointment of Mr. Dawson Brisco and Mr. Chris Wright as independent directors to the Board effective immediately.

Dawson Brisco

Mr. Brisco is a Professional Geologist with 20 years of mining industry and business development experience in a variety of roles in the bulk commodity, metals and energy sectors. Mr. Brisco is currently the President and CEO of Morien Resources Corp., a Canadian mining royalty company specialized in bulk commodities, a position he has held since 2018. Prior to joining Morien, Mr. Brisco held numerous senior business development and technical roles including senior manager of an exploration alliance with Xstrata in Asia from 2005 to 2010. Mr. Brisco is an independent Director of the Mining Association of Nova Scotia and holds an Honours Bachelor of Science degree in Geology from Saint Mary’s University in Halifax, Nova Scotia.

Chris Wright

Mr. Wright serves as Chief Executive Officer and Chairman of the Board of Liberty Energy. Mr. Wright is a dedicated humanitarian with a passion for bringing the benefits of energy to every community in the world. This passion has inspired a career in energy working not only in oil and gas but nuclear, solar, and geothermal. Mr. Wright embraces all sources of energy if they are abundant, affordable, and reliable.

Mr. Wright completed an undergraduate degree in Mechanical Engineering at MIT and graduate work in Electrical Engineering at both UC Berkeley and MIT. Mr. Wright founded Pinnacle Technologies and served as CEO from 1992 to 2006. Pinnacle created the hydraulic fracture mapping industry and its innovations helped launch commercial shale gas production in the late 1990s. Mr. Wright was Chairman of Stroud Energy, an early shale gas producer, before its sale to Range Resources in 2006. Additionally, Mr. Wright founded and served as Executive Chairman of Liberty Resources and Liberty Midstream Solutions until its sale in 2024. He also sits on the Board of Directors for Urban Solutions Group, and the Federal Reserve Bank, Denver Branch. In addition to his role at Liberty Energy, Mr. Wright serves on the board of numerous organizations and nonprofits, including a founding board member of the Bettering Human Lives Foundation.

About EMX – EMX is a precious, and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@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 EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, 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 the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, 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 year ended December 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206843

Base Metals Dolly Varden Silver Energy Exclusive Interviews Precious Metals

Dolly Varden Silver – 2024 Gold, Silver Drill Program

Post author By admin
Post date April 27, 2024

Joining us for a conversation is Rob Van Egmond, Vice-President of Exploration for Dolly Varden Silver, which has just announced another ambitious discovery and exploration drill program on the high-grade gold/silver Kitsault Valley Project located in the prolific Golden Triangle of British Columbia. Find out why Rick Rule, Eric Sprott, Fidelity, Fury Gold Mines, Hecla Mining, Sprott USA, Delbrook and high-net worth investors are long-term shareholders in Dolly Varden Silver!

Website: https://provenandprobable.com/
Share this interview: https://youtu.be/SEV6TZHzzDQ
Website: https://dollyvardensilver.com/
Corporate Deck: https://dollyvardensilver.com/presentation/

Youtube

Rumble

Junior Mining Precious Metals

Emperor Announces Private Placement

Post author By admin
Post date April 27, 2024

Vancouver, British Columbia–(Newsfile Corp. – April 27, 2024) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to announce that it has arranged a non-brokered private placement (the “Offering“) of 5,240,000 flow-through shares (the “FT Shares” and each an “FT Share“) at a price of $0.267 per FT Share for gross proceeds of $1,399,080. Each FT Share will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the issuance of the FT Shares will be used to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures,” as such terms are defined in the Income Tax Act (Canada), and in addition, with respect to Quebec resident subscribers who purchase FT Shares who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the “exploration base relating to certain Quebec exploration expenses” within the meaning of Section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the “exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses” within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec) (the “Qualifying Expenditures“). Further information on the Company’s Duquesne West Gold Project in Quebec, and the 2023 exploration results is provided in the Company’s recent news release dated April 10, 2024 available on SEDAR+, and on the Company’s website (www.emperormetals.com). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2024.

All FT Shares issued will be subject to a four-month hold period. The Offering is subject to the acceptance of the Canadian Securities Exchange.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Alexander Horsley”
Alexander Horsley, Director

For further information, please contact:
Alexander Horsley
Phone: 778-323-3058
Email: info@emperormetals.com
Website: www.emperormetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.

FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207129

Energy Junior Mining Lion One Metals Precious Metals

Lion One Drills 448.98 g/t, 202.34 g/t, and 108.5 g/t Gold at Tuvatu, Provides Operations Update

Post author By admin
Post date April 25, 2024

North Vancouver, British Columbia–(Newsfile Corp. – April 25, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji and provides an update to mining operations at Tuvatu.

Assay results are presented here for infill and grade control drilling completed in the Zone 2 area of Tuvatu and include multiple bonanza grade gold results such as 448.98 g/t, 202.34 g/t, 108.5 g/t, 92.89 g/t, and 82.35 g/t. These drill intercepts are all located in the near surface portion of Tuvatu and are scheduled for mining in the short term. The results included in this news release are from drill holes that targeted the URW1 and Murau lode systems proximal to underground development. Previous results from Zone 2 drilling are available in the news releases dated October 19, 2023 and September 14, 2023.

Mining operations are also advancing in Zone 2 and in Zone 5. A total of 2,630 m of sludge hole drilling has been completed in advance of longhole mining in Zone 2. In Zone 5, airleg stoping on the UR2 lode is ongoing, with two leadings stopes underway and sublevels being driven for a gallery stope. Longhole production drilling is expected to commence in both Zone 2 and Zone 5 in late April, generating production tonnes in mid-May.

Highlights of Zone 2 drill results (3.0 g/t cutoff):

226.55 g/t Au over 0.6 m (including 448.98 g/t Au over 0.3 m) (TGC-0113, from 84.6 m depth)
18.35 g/t Au over 4.8 m (including 40.99 g/t Au over 0.6 m) (TUDDH-686A, from 128.9 m depth)
9.99 g/t Au over 8.1 m (including 30.34 g/t Au over 0.3 m) (TGC-0121, from 65.0 m depth)
82.35 g/t Au over 0.9 m (including 82.35 g/t Au over 0.9 m) (TGC-0110, from 65.1 m depth)
7.48 g/t Au over 9 m (including 20.78 g/t Au over 0.9 m) (TGC-0118, from 86.3 m depth)
105.86 g/t Au over 0.6 m (including 202.34 g/t Au over 0.3 m) (TGC-0121, from 83.3 m depth)
14.9 g/t Au over 4.2 m (including 21.44 g/t Au over 2.4 m) (TUDDH-698, from 146.3 m depth)
8.27 g/t Au over 7.2 m (including 25.58 g/t Au over 0.3 m) (TGC-0127, from 66.0 m depth)
27.94 g/t Au over 2.1 m (including 54.65 g/t Au over 0.9 m) (TGC-0118, from 66.2 m depth)
15.72 g/t Au over 3.6 m (including 25.53 g/t Au over 1.2 m) (TUDDH-682, from 74.3 m depth)
16.29 g/t Au over 3.3 m (including 46.63 g/t Au over 0.6 m) (TGC-0130, from 107.8 m depth)
33.92 g/t Au over 1.5 m (including 92.89 g/t Au over 0.3 m) (TGC-0134, from 113.8 m depth)
20.86 g/t Au over 2.4 m (including 23.67 g/t Au over 1.2 m) (TGC-0125, from 14.4 m depth)
11.08 g/t Au over 4.5 m (including 46.77 g/t Au over 0.6 m) (TGC-0102, from 41.4 m depth)
13.18 g/t Au over 3.3 m (including 22.4 g/t Au over 0.9 m) (TGC-0125, from 100.2 m depth)

Highlights of operations update:

2,630 m of sludge hole drilling complete in the URW1 and Murau lodes in Zone 2.
Airleg mining of the UR2 leading stopes ongoing in Zone 5.
Two longhole drill rigs successfully commissioned.
Two remote capable loaders to be commissioned by early May.
Upgrades to CIL circuit advancing, two new blowers to be installed in late April and early May.

Figure 1. Location of Zone 2 infill and grade control drillholes. Left image: Plan view of Tuvatu showing Zone 2 infill and grade control drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Right image: Oblique view of Zone 2 infill and grade control drilling looking approximately northeast.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/206800_93e3f6c7e4916a2f_001full.jpg

Table 1. Highlights of composited infill and grade control drill results in the Zone 2 area, 3.0 g/t Au cutoff. For full results see Table 3 in the appendix.

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0113		84.6	85.2	0.6	226.55
	including	84.6	84.9	0.3	448.98
TUDDH-686A		128.9	133.7	4.8	18.35
	including	128.9	129.5	0.6	20.80
	and	129.5	130.1	0.6	40.99
	and	130.7	131.3	0.6	9.97
	and	131.9	132.8	0.9	30.02
	and	132.8	133.4	0.6	18.88
	and	133.4	133.7	0.3	13.23
TGC-0121		65.0	73.1	8.1	9.99
	including	65.0	65.3	0.3	30.34
	and	68.3	69.2	0.9	11.96
	and	70.1	71.3	1.2	22.51
	and	71.3	72.2	0.9	12.22
	and	72.2	73.1	0.9	15.63
TGC-0110		65.1	66.0	0.9	82.35
TGC-0118		86.3	95.3	9.0	7.48
	including	87.2	88.1	0.9	20.27
	and	91.1	92.3	1.2	8.33
	and	93.2	94.1	0.9	20.78
TGC-0121		83.3	83.9	0.6	105.86
	including	83.3	83.6	0.3	9.38
	and	83.6	83.9	0.3	202.34
TUDDH-698		146.3	150.5	4.2	14.90
	including	146.3	146.9	0.6	20.45
	and	146.9	147.5	0.6	28.43
	and	147.5	148.1	0.6	20.89
	and	148.1	148.7	0.6	15.99
	and	149.3	150.5	1.2	8.96
TGC-0127		66.0	73.2	7.2	8.27
	including	66.0	66.6	0.6	25.25
	and	67.2	67.8	0.6	8.10
	and	69.9	70.2	0.3	15.57
	and	70.2	70.5	0.3	13.03
	and	70.5	71.1	0.6	7.91
	and	71.1	71.4	0.3	6.29
	and	71.4	71.7	0.3	19.87
	and	71.7	72.0	0.3	25.58
TGC-0118		66.2	68.3	2.1	27.94
	including	66.2	67.1	0.9	54.65
	and	67.1	68.3	1.2	7.91
TUDDH-682		74.3	77.9	3.6	15.72
	including	74.3	75.5	1.2	25.53
	and	76.4	77.3	0.9	11.87
	and	77.3	77.9	0.6	25.25
TGC-0130		107.8	111.1	3.3	16.29
	including	107.8	108.4	0.6	8.66
	and	108.4	109.0	0.6	46.63
	and	109.0	109.6	0.6	17.82
	and	110.2	111.1	0.9	8.16
TGC-0134		113.8	115.3	1.5	33.92
	including	113.8	114.1	0.3	58.96
	and	114.1	114.4	0.3	92.89
	and	114.4	114.7	0.3	9.39
TGC-0125		14.4	16.8	2.4	20.86
	including	14.4	14.7	0.3	8.60
	and	14.7	15.9	1.2	23.67
	and	15.9	16.8	0.9	21.22
TGC-0102		41.4	45.9	4.5	11.08
	including	41.4	42	0.6	15.02
	and	42.9	43.5	0.6	46.77
	and	43.5	43.8	0.3	11.96
	and	44.7	45.3	0.6	7.21
TGC-0125		100.2	103.5	3.3	13.18
	including	100.2	100.8	0.6	25.65
	and	100.8	101.1	0.3	15.69
	and	101.1	101.4	0.3	10.76
	and	102.3	102.6	0.3	15.92
	and	102.9	103.2	0.3	21.22
	and	103.2	103.5	0.3	30.11

Zone 2 Drilling

The Zone 2 area of Tuvatu is located in the northwest part of the deposit, near the main portal. The URW1 and Murau lode systems are the primary mineralized systems in Zone 2, with production mining starting first in URW1 and then in Murau. A total of 38 drill holes are reported in this news release, including 18 targeting the URW1 lodes and 20 targeting the Murau system.

The URW1 drilling reported here was designed to provide grade control results between the 1161 and 1101 levels in Zone 2, and to provide infill and down-dip extension results in the URW1 system below the 1101 level. Leading edge airleg stoping has been completed on the 1141 level, and a 5 m wide access drive on the 1161 level has also been completed. The 1161 access drive will provide longhole drill and underground loader access to the upper part of the URW1 lode system for mechanized production.

Figure 2. Zone 2 URW1 drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Drilling below the 1101 level is targeting URW1 down-dip extension, drilling above the 1101 level is grade control drilling.

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The Murau drilling reported here was designed to provide infill and grade control results in the upper portion of the Murau lode system, which will be the first part of the system to be mined and is scheduled for production in Q3 2024. The Murau lode system dips moderately to the SSW and is open down dip and at depth. The upper portion of the system that is targeted for near-term mining has a strike length of 80m and extends down dip for a length of 100 m.

Figure 3. Zone 2 Murau drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. The Murau lode system will be the second area to enter production in Zone 2 after the URW1 lode system. The drilling shown here is infill and grade control drilling in the upper portion of the system. View is to the southeast, looking approximately down the decline from the entrance portal. The intersections on the bottom left of the image represent newly discovered mineralized lodes to be followed up with near-mine exploration drilling.

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Operations Update

The URW1 lodes will be the first at Tuvatu to undergo mechanized production mining. Development has been ongoing across the 1101, 1121, 1141, and 1161 levels in advance of production. A leading airleg stope has been completed on the 1141 level, and the 1141 A and B vein drives are undergoing stripping to facilitate larger equipment, in preparation for bulk stoping. An access drive has been completed on the 1161 level and will provide access for the longhole drills and larger loaders.

The URW1 lodes consist of primary subvertical veins with a halo of stockwork mineralization. Sludge drilling is being conducted in advance of mining to confirm the extent of stockwork mineralization beyond the primary vein as well as to inform the final stope design. A total of 1,930 m of sludge hole drilling has been completed in the URW1 lode system. Sludge hole drilling on the 1101 level is complete (1,200 m) and is ongoing on the 1121 and 1141 levels (730 m complete to date). Longhole drilling will commence in the URW1 lode system in late April with production mining of the 1101 level starting in May. Sludge drilling has also commenced on the Murau lode system with 700 m complete to date.

Figure 4. Zone 2 mine development and sludge drilling. Sludge drilling on the 1101 level is complete and is ongoing on the 1121 and 1141 levels. Longhole drilling is scheduled to begin on the 1101 level in late April.

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In Zone 5, airleg stoping on the UR2 lode is underway on the 1130 North level and on the 1120 South level. Airleg development is ongoing on the URW3 lode with airleg rises planned above the 1126 Sublevel. Mineralization in the UR2 and URW3 lodes is predominantly subvertical high-grade narrow-vein gold with minimal stockwork veining. Longhole mining is scheduled to take place in Zone 5 on the 1120 North UR2 drive, beginning in May.

Figure 5. Oblique view of Zone 5 development. Airleg stoping of the UR2 lode is ongoing on the 1130 North and 1120 South levels. Airleg development on the URW3 lode is ongoing on the 1126 Sublevel. The first area scheduled for longhole mining in Zone 5 will be the 1120 North drive on the UR2 lode.

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Two remote-capable loaders required to facilitate the extraction of material from longhole stopes have been acquired. A CAT 1700 loader fitted with remote technology will be commissioned in May for bogging of the 1101 bulk stope at the URW1 lodes, and a CAT 1300 remote loader from Australia is now on site and will also be commissioned in early May. These loaders will enable increased production from the mine.

The first of two blowers ordered to upgrade the CIL circuit and improve aeration within the tanks has arrived on site and will be installed by April 30, 2024. The second blower is scheduled to arrive by the end of April and will be installed in early May. Air sparger installation in the CIL tanks was completed in April resulting in improved aeration and gold recovery in the CIL circuit, with gold recoveries of over 80% achieved. Installation of the new blowers is anticipated to further improve aeration and recoveries in the CIL circuit.

Qualified Person (NI43-101)
In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43- 101”), Alex Nichol, MAIG, VP Geology and Exploration, is the Qualified Person for the Company, and has reviewed, validated, and approved the technical and scientific content of this news release.

Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of 7 diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged and split by Lion One personnel on site and delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

Contact Information
Investor inquiries: info@liononemetals.com
Phone:1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

Appendix 1: Full Drill Results and Collar Information

Table 2. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0102	1876266	3920768	152	24.7	-60.3	65.6
TGC-0103	1876266	3920768	152	26.6	-45.6	71.8
TGC-0104	1876267	3920763	152	52.9	-45.6	62.6
TGC-0105	1876268	3920762	152	56.5	-38.6	200.7
TGC-0108	1876267	3920762	151	56.4	-72.4	66.7
TGC-0110	1876268	3920763	153	50.6	-17.6	80.2
TGC-0111	1876268	3920763	153	54.3	-10.8	80.4
TGC-0113	1876269	3920758	153	85.0	-2.0	115.9
TGC-0115	1876269	3920758	153	76.8	3.9	107.0
TGC-0117	1876375	3920628	128	355.2	-19.0	135.0
TGC-0118	1876269	3920758	152	76.3	-14.2	107.3
TGC-0119	1876375	3920628	127	348.7	-29.2	120.7
TGC-0120	1876374	3920628	128	327.3	-18.6	150.0
TGC-0121	1876269	3920758	152	82.9	-12.8	107.3
TGC-0122	1876269	3920757	152	88.0	-16.6	113.3
TGC-0123	1876375	3920628	128	347.3	-18.8	11.5
TGC-0124	1876375	3920628	128	341.3	-19.4	125.2
TGC-0125	1876268	3920757	152	92.7	-36.5	125.7
TGC-0126	1876375	3920628	127	341.0	-26.1	120.8
TGC-0127	1876268	3920757	151	98.6	-70.0	83.5
TGC-0128	1876375	3920628	128	330.3	-19.7	120.4
TGC-0129	1876267	3920756	151	135.1	-79.6	26.2
TGC-0130	1876375	3920628	128	338.6	-8.3	130.3
TGC-0131	1876267	3920757	151	127.4	-78.7	95.8
TGC-0132	1876375	3920628	128	350.0	-19.5	11.5
TGC-0133	1876375	3920628	128	348.8	-19.8	135.3
TGC-0134	1876375	3920628	128	337.7	-18.5	125.0
TGC-0136	1876375	3920628	127	337.4	-26.6	120.7
TUDDH-682	1876259	3920803	203	63.8	-71.1	101.4
TUDDH-683	1876225	3920709	218	27.2	-65.2	170.5
TUDDH-684	1876260	3920802	203	75.0	-61.1	100.0
TUDDH-686	1876225	3920709	218	36.9	-58.2	25.0
TUDDH-686A	1876225	3920709	218	36.5	-58.1	160.1
TUDDH-689	1876260	3920801	203	79.2	-67.3	105.1
TUDDH-694	1876259	3920803	203	44.4	-81.1	99.8
TUDDH-697	1876259	3920804	203	36.6	-69.2	96.2
TUDDH-698	1876224	3920708	218	37.6	-66.3	180.0
TUDDH-700	1876254	3920802	203	18.6	-72.3	95.4

Table 3. Composited results from infill and grade control drillholes in the Zone 2 area (grade >3.0 g/t Au)

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0102		7.5	8.1	0.6	7.23
TGC-0102		18.3	18.6	0.3	5.56
TGC-0102		41.4	45.9	4.5	11.08
	including	41.4	42	0.6	15.02
	and	42.9	43.5	0.6	46.77
	and	43.5	43.8	0.3	11.96
	and	44.7	45.3	0.6	7.21
	and	45.3	45.9	0.6	4.29
TGC-0102		48.3	48.6	0.3	6.56
TGC-0103		22.2	22.5	0.3	9.70
TGC-0103		25.8	26.1	0.3	11.26
TGC-0103		38.7	40.5	1.8	3.99
	including	38.7	39.6	0.9	3.84
	and	39.6	40.5	0.9	4.15
TGC-0103		41.7	43.5	1.8	10.38
	including	41.7	42.6	0.9	5.15
	and	42.6	42.9	0.3	27.32
	and	42.9	43.5	0.6	9.76
TGC-0103		50.7	52.8	2.1	5.29
	including	50.7	51.6	0.9	3.52
	and	52.2	52.5	0.3	10.85
	and	52.5	52.8	0.3	9.80
TGC-0104		19.2	19.5	0.3	15.22
TGC-0104		45.6	47.4	1.8	4.06
	including	45.6	46.2	0.6	9.88
	and	47.1	47.4	0.3	4.62
TGC-0104		49.8	50.4	0.6	3.46
TGC-0104		52.2	53.4	1.2	5.01
	including	52.2	52.5	0.3	3.08
	and	52.5	52.8	0.3	8.36
	and	52.8	53.4	0.6	4.31
TGC-0105		22.5	22.8	0.3	8.86
TGC-0105		46.5	47.7	1.2	10.88
TGC-0105		52.5	54.0	1.5	3.99
	including	52.5	52.8	0.3	3.79
	and	53.7	54.0	0.3	14.85
TGC-0105		135.3	136.2	0.9	4.32
TGC-0105		181.2	182.1	0.9	25.59
TGC-0108		13.2	13.5	0.3	5.25
TGC-0108		47.1	47.4	0.3	3.98
TGC-0108		48.9	50.1	1.2	5.43
TGC-0110		30.9	32.1	1.2	6.14
TGC-0110		39.9	40.2	0.3	108.50
TGC-0110		60.9	61.2	0.3	3.60
TGC-0110		65.1	66.0	0.9	82.35
TGC-0110		68.1	69.0	0.9	4.83
TGC-0110		74.1	74.4	0.3	7.02
TGC-0111		43.2	43.8	0.6	3.24
TGC-0111		51.6	52.2	0.6	4.27
TGC-0111		56.1	56.7	0.6	9.85
TGC-0111		59.1	64.2	5.1	4.90
	including	59.1	59.7	0.6	3.51
	and	60.6	61.2	0.6	7.28
	and	61.8	62.4	0.6	7.06
	and	62.4	63.0	0.6	10.23
	and	63.0	63.6	0.6	6.67
	and	63.6	64.2	0.6	6.97
TGC-0111		68.4	69.0	0.6	12.07
TGC-0111		75.6	76.5	0.9	3.07
TGC-0111		78.6	79.2	0.6	4.36
TGC-0113		48.0	48.6	0.6	4.76
TGC-0113		66.6	66.9	0.3	4.87
TGC-0113		68.7	69.0	0.3	5.26
TGC-0113		70.8	72.3	1.5	5.53
	including	70.8	71.7	0.9	7.00
	and	71.7	72.3	0.6	3.33
TGC-0113		77.4	78.0	0.6	4.38
TGC-0113		82.5	82.8	0.3	6.77
TGC-0113		84.6	85.2	0.6	226.55
	including	84.6	84.9	0.3	448.98
	and	84.9	85.2	0.3	4.12
TGC-0115		15.0	15.3	0.3	5.18
TGC-0115		74.4	75.0	0.6	26.70
	including	74.4	74.7	0.3	4.44
	and	74.7	75.0	0.3	48.96
TGC-0115		79.2	79.8	0.6	7.43
TGC-0115		94.5	94.8	0.3	5.84
TGC-0117		81.9	82.2	0.3	9.30
TGC-0118		15.2	16.1	0.9	10.45
TGC-0118		66.2	68.3	2.1	27.94
	including	66.2	67.1	0.9	54.65
	and	67.1	68.3	1.2	7.91
TGC-0118		72.2	76.1	3.9	6.92
	including	72.2	73.1	0.9	6.79
	and	73.1	74.3	1.2	7.55
	and	74.3	75.2	0.9	6.79
	and	75.2	76.1	0.9	6.37
TGC-0118		82.1	84.2	2.1	4.10
	including	82.1	83.3	1.2	3.41
	and	83.3	84.2	0.9	5.02
TGC-0118		86.3	95.3	9.0	7.48
	including	86.3	87.2	0.9	5.20
	and	87.2	88.1	0.9	20.27
	and	88.1	89.3	1.2	5.46
	and	90.2	91.1	0.9	4.03
	and	91.1	92.3	1.2	8.33
	and	93.2	94.1	0.9	20.78
	and	94.1	95.3	1.2	4.00
TGC-0119		82.6	82.9	0.3	23.21
TGC-0121		15.8	16.4	0.6	7.17
	including	15.8	16.1	0.3	4.30
	and	16.1	16.4	0.3	10.05
TGC-0121		36.8	37.7	0.9	9.87
	including	36.8	37.1	0.3	5.95
	and	37.1	37.4	0.3	12.68
	and	37.4	37.7	0.3	10.99
TGC-0121		65.0	73.1	8.1	9.99
	including	65.0	65.3	0.3	30.34
	and	65.3	66.2	0.9	3.71
	and	67.1	68.3	1.2	3.92
	and	68.3	69.2	0.9	11.96
	and	70.1	71.3	1.2	22.51
	and	71.3	72.2	0.9	12.22
	and	72.2	73.1	0.9	15.63
TGC-0121		83.3	83.9	0.6	105.86
	including	83.3	83.6	0.3	9.38
	and	83.6	83.9	0.3	202.34
TGC-0121		90.2	91.1	0.9	6.28
TGC-0121		99.2	100.1	0.9	6.46
TGC-0122		14.7	15.3	0.6	3.47
TGC-0122		22.5	23.4	0.9	13.80
	including	22.5	23.1	0.6	7.89
	and	23.1	23.4	0.3	25.64
TGC-0122		64.2	66.3	2.1	4.62
	including	64.2	64.8	0.6	9.79
	and	64.8	65.1	0.3	6.38
	and	65.7	66.3	0.6	3.22
TGC-0122		111.6	113.3	1.7	5.37
	including	111.6	112.2	0.6	9.99
	and	112.8	113.3	0.5	3.69
TGC-0124		103.5	103.8	0.3	13.87
TGC-0125		14.4	16.8	2.4	20.86
	including	14.4	14.7	0.3	8.60
	and	14.7	15.9	1.2	23.67
	and	15.9	16.8	0.9	21.22
TGC-0125		85.8	87.0	1.2	5.42
	including	85.8	86.1	0.3	5.16
	and	86.7	87.0	0.3	10.58
TGC-0125		100.2	103.5	3.3	13.18
	including	100.2	100.8	0.6	25.65
	and	100.8	101.1	0.3	15.69
	and	101.1	101.4	0.3	10.76
	and	102.3	102.6	0.3	15.92
	and	102.9	103.2	0.3	21.22
	and	103.2	103.5	0.3	30.11
TGC-0126		88.7	89.0	0.3	4.81
TGC-0127		10.2	10.5	0.3	3.38
TGC-0127		52.5	52.8	0.3	7.86
TGC-0127		66.0	73.2	7.2	8.27
	including	66.0	66.6	0.6	25.25
	and	67.2	67.8	0.6	8.10
	and	67.8	68.4	0.6	4.49
	and	68.4	69.3	0.9	4.33
	and	69.9	70.2	0.3	15.57
	and	70.2	70.5	0.3	13.03
	and	70.5	71.1	0.6	7.91
	and	71.1	71.4	0.3	6.29
	and	71.4	71.7	0.3	19.87
	and	71.7	72.0	0.3	25.58
	and	72.6	72.9	0.3	3.82
	and	72.9	73.2	0.3	4.43
TGC-0129		9.3	10.2	0.9	11.03
	including	9.3	9.6	0.3	18.79
	and	9.6	10.2	0.6	7.16
TGC-0130		106.0	106.6	0.6	4.11
TGC-0130		107.8	111.1	3.3	16.29
	including	107.8	108.4	0.6	8.66
	and	108.4	109.0	0.6	46.63
	and	109.0	109.6	0.6	17.82
	and	109.6	110.2	0.6	4.27
	and	110.2	111.1	0.9	8.16
TGC-0131		65.8	66.7	0.9	10.99
TGC-0133		82.2	82.8	0.6	43.89
TGC-0134		95.5	96.4	0.9	3.62
TGC-0134		110.8	111.4	0.6	4.90
TGC-0134		113.8	115.3	1.5	33.92
	including	113.8	114.1	0.3	58.96
	and	114.1	114.4	0.3	92.89
	and	114.4	114.7	0.3	9.39
	and	114.7	115.3	0.6	4.18
TGC-0135		120.3	121.2	0.9	4.71
TGC-0136		90.0	90.9	0.9	29.78
TGC-0136		92.1	93.0	0.9	3.43
TGC-0136		100.2	100.5	0.3	3.27
TUDDH-682		24.5	24.8	0.3	3.55
TUDDH-682		63.8	64.4	0.6	7.01
TUDDH-682		68.6	69.8	1.2	8.16
	including	68.6	69.2	0.6	9.79
	and	69.2	69.8	0.6	6.53
TUDDH-682		74.3	77.9	3.6	15.72
	including	74.3	75.5	1.2	25.53
	and	76.4	77.3	0.9	11.87
	and	77.3	77.9	0.6	25.25
TUDDH-684		59.5	60.1	0.6	3.45
TUDDH-684		73.0	75.7	2.7	5.29
	including	73.0	74.2	1.2	9.06
	and	74.8	75.7	0.9	3.79
TUDDH-684		77.5	77.8	0.3	10.35
TUDDH-684		78.7	79.0	0.3	3.54
TUDDH-686A		86.3	87.5	1.2	5.78
TUDDH-686A		116.0	116.6	0.6	3.79
TUDDH-686A		128.9	133.7	4.8	18.35
	including	128.9	129.5	0.6	20.80
	and	129.5	130.1	0.6	40.99
	and	130.1	130.7	0.6	4.38
	and	130.7	131.3	0.6	9.97
	and	131.9	132.8	0.9	30.02
	and	132.8	133.4	0.6	18.88
	and	133.4	133.7	0.3	13.23
TUDDH-686A		136.7	137.0	0.3	5.04
TUDDH-686A		139.4	140.6	1.2	3.24
TUDDH-689		63.3	63.9	0.6	13.42
TUDDH-689		73.8	75.0	1.2	4.80
TUDDH-689		81.0	81.3	0.3	9.24
TUDDH-694		28.9	29.5	0.6	8.03
	including	28.9	29.2	0.3	4.29
	and	29.2	29.5	0.3	11.78
TUDDH-694		68.2	68.5	0.3	3.34
TUDDH-694		72.4	75.4	3.0	6.09
	including	72.4	73.0	0.6	12.02
	and	73.6	74.8	1.2	3.65
	and	74.8	75.4	0.6	9.78
TUDDH-694		76.6	77.8	1.2	9.54
	including	76.6	77.2	0.6	3.60
	and	77.2	77.8	0.6	15.48
TUDDH-697		62.5	63.1	0.6	3.90
TUDDH-697		66.7	67.3	0.6	3.76
TUDDH-698		146.3	150.5	4.2	14.90
	including	146.3	146.9	0.6	20.45
	and	146.9	147.5	0.6	28.43
	and	147.5	148.1	0.6	20.89
	and	148.1	148.7	0.6	15.99
	and	149.3	150.5	1.2	8.96
TUDDH-698		152.3	152.6	0.3	63.56
TUDDH-698		153.8	155.6	1.8	3.67
	including	153.8	154.4	0.6	4.94
	and	154.4	154.7	0.3	7.02
	and	155.3	155.6	0.3	3.81
TUDDH-698		156.8	159.5	2.7	16.10
	including	156.8	157.4	0.6	5.81
	and	157.4	158.6	1.2	25.47
	and	158.6	159.2	0.6	12.86
	and	159.2	159.5	0.3	5.76
TUDDH-700		68.7	69.3	0.6	9.29
TUDDH-700		73.5	73.8	0.3	3.25

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206800

Energy Junior Mining Precious Metals Uncategorized

Gold’s record-setting rally may have its roots in Chinese frenzy

Post author By admin
Post date April 24, 2024

Bloomberg News | April 23, 2024 | 5:11 pm Intelligence Markets China Gold

Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

After weeks of debate about whether a mystery buyer was stoking the rally, several prominent figures in the global gold market are coming to the conclusion that the major new driving force is a legion of fleet-footed retail investors on the Shanghai Futures Exchange.

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In a matter of weeks, the SHFE has gone from a sedate futures venue to a nexus of the global gold market. While rival centers such as London and New York have also seen activity rise, the fact that SHFE volumes have spiked from a low base offers a compelling sign that a newly arrived cohort of Chinese investors has helped drive prices sharply higher.

Gold has soared this year, topping $2,000 an ounce from early March in the face of major pressures that, in ordinary times, would have capped gains. Driven by fading expectations for a pivot to lower interest rates from the Federal Reserve, these included higher Treasury yields and a rallying US dollar. On top of that, there was a virtual buyers’ strike in India, the second-largest consumer, disinterest from western funds, and net sales by exchange-traded funds. Yet SHFE volumes started to spike, and prices powered higher.

“The only thing that drives it in a Bitcoin-esque kind of way is massive speculative plays,” according to Ross Norman, a former trader at Credit Suisse Group AG and Rothschilds & Sons., who now helms the Metals Daily journal.

Given elevated rates and the dollar’s strength, that’s unlikely to have come from hot-money in the US, so the most likely buyers would be highly leveraged Chinese investors, he said.

Gold has a longstanding history in China as a savings tool, and the country is the top consumer and leading producer. That traditional interest has been given a new lease of life by turmoil in the local property and stock markets, with imports surging in 2022 and 2023 despite being tightly controlled.

Buying spree

For months, consumers and institutional investors in China have been snapping up physical bullion, while the People’s Bank of China has been on a 17-month buying spree. Those two forces, which helped buoy international prices, have now been augmented by surging speculative demand.

Numbers back up the theory. Trading on the SHFE has exploded, with average daily volume almost tripling in April compared with the preceding 12 months. It peaked at about 1,200 tons on April 15, the highest since 2019, before prices started to sag this week.

https://www.mining.com/web/china-is-front-and-center-of-golds-record-breaking-rally/embed/#?secret=Jbq5B8gBXH#?secret=BWK5nFgia4

“It’s another sign of emerging markets, and particularly Chinese traders, wresting price discovery away from Western markets,” said John Reade, chief market strategist at the World Gold Council. “We know from other commodity markets, that from time-to-time, Shanghai traders become the most dominant players. That’s never really been the case in gold, but I think now that this might have changed.”

For long-haul gold bulls, that could be a worry if gains prove brittle. State media recently urged caution in chasing the rally, while the SHFE raised margin requirements to snuff out excessive risk-taking.

It’s notable that while SHFE volumes have soared, the number of outstanding contracts has hardly moved. That indicates participants day-trading, not taking a long-term view. Bullion fell 2.7% on Monday and losses deepened Tuesday, in a move that Reade attributed to profit-taking by short-term investors on the exchange.

‘Extreme example’

“It’s a bit of a feature of onshore Chinese markets, albeit a relatively extreme example,” said Marcus Garvey, head of commodity strategy at Macquarie Group Ltd. There’s “much more short-term speculative turnover,” he said.

Not everyone thinks Chinese investors are the major driver behind gold’s ascent. “It’s not just mom-and-pop traders and it’s not just China,” said Jeff Christian, managing director at CPM Group. “It’s really a broad-based thing. There isn’t all that much difference now in the trading behavior of large institutions compared to mom-and-pop people.”

Gold may be in favor as higher-for-longer US interest rates to tame inflation may tip the economy into recession, according to Christian. “They’re all becoming convinced that interest rates aren’t going to fall too soon,” he said. “That could be negative for other assets more than it would be for gold.”

Samson Li, a Hong Kong-based analyst at Commodity Discovery Fund, sees a more nuanced picture. Rather than being a direct driver of prices, the frenzied demand in China has encouraged western speculators to ramp up bets on gains in New York, he said.

The debate about how long Chinese investors will stick around is tied to the question of what brought them to SHFE in the first place. Institutional and retail traders on SHFE may be buying gold to bet on short-term fluctuations in the yuan. This year, the exchange’s night session has been the most active, just when a raft of hot US economic data has driven the dollar higher.

Daniel Ghali, a senior commodity strategist at TD Securities, has also been on the hunt to identify gold’s mystery buyer, and he still thinks that the dominant force is likely to be a deep-pocketed buyer in the so-called official sector, which covers state-linked institutions such as central banks and sovereign wealth funds. But he says buying activity there has also been closely correlated with weakness in the yuan, and investors on SHFE may be acting with the same underlying motivations.

“The trading activity on the SHFE, it does point to retail speculation and that could be associated with the currency pressures,” said Ghali. “It’s not just an issue for the central banks out there – it’s an issue for everyday participants who see that their currency is depreciating and want to hedge against it.”

(By Mark Burton, Sybilla Gross and Yvonne Yue Li)

Original Source: https://www.mining.com/web/golds-record-setting-rally-may-have-its-roots-in-chinese-frenzy/

Base Metals Energy Junior Mining

Ranked: The Top 10 EV Battery Manufacturers in 2023

Post author By admin
Post date April 24, 2024

The Top 10 EV Battery Manufacturers in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Despite efforts from the U.S. and EU to secure local domestic supply, all major EV battery manufacturers remain based in Asia.

In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes.

Chinese Dominance

Contemporary Amperex Technology Co. Limited (CATL) has swiftly risen in less than a decade to claim the title of the largest global battery group.

The Chinese company now has a 34% share of the market and supplies batteries to a range of made-in-China vehicles, including the Tesla Model Y, SAIC’s MG4/Mulan, and Li Auto models.

Company	Country	2023 Production (megawatt-hour)	Share of Total Production
CATL	China	242,700	34%
BYD	China	115,917	16%
LG Energy Solution	Korea	108,487	15%
Panasonic	Japan	56,560	8%
SK On	Korea	40,711	6%
Samsung SDI	Korea	35,703	5%
CALB	China	23,493	3%
Farasis Energy	China	16,527	2%
Envision AESC	China	8,342	1%
Sunwoda	China	6,979	1%
Other	–	56,040	8%

In 2023, BYD surpassed LG Energy Solution to claim second place. This was driven by demand from its own models and growth in third-party deals, including providing batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models.

The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.

Once a leader in the EV battery business, Panasonic now holds the fourth position with an 8% market share, down from 9% last year. With its main client, Tesla, now effectively sourcing batteries from multiple suppliers, the Japanese battery maker seems to be losing its competitive edge in the industry.

Overall, the global EV battery market size is projected to grow from $49 billion in 2022 to $98 billion by 2029, according to Fortune Business Insights.

Source: https://elements.visualcapitalist.com/ranked-the-top-10-ev-battery-manufacturers-in-2023/

Base Metals Energy Junior Mining

F3 Uranium to Present at the OTC Metals & Mining Virtual Investor Conference on April 30th

Post author By admin
Post date April 24, 2024

KELOWNA, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) — F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company”) is pleased to announce that Mr. Raymond Ashley, President, P.Geo. will be presenting at the OTC virtual conference on April 30, 2024 @ 11:00AM EST. Ray will be discussing the new targets that the PLN winter drilling has generated for the upcoming summer drill program along the A1 and B1 shear zones, as well as the planned F4 spin-out. F3 wishes to invite individual and institutional investors, as well as advisors and analysts, to attend online at VirtualInvestorConferences.com.

DATE: April 30, 2024
TIME: 11:00 AM EST
LINK: https://bit.ly/3ISIVUN

Available for 1×1 meetings: May 2

Learn more about the event at www.virtualinvestorconferences.com.

About F3 Uranium Corp.

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 20 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

About Patterson Lake North:

The Company’s 4,074-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

Forward Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

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Author: admin

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Buying spree

‘Extreme example’

Ranked: The Top 10 EV Battery Manufacturers in 2023

The Top 10 EV Battery Manufacturers in 2023

Chinese Dominance

F3 Uranium to Present at the OTC Metals & Mining Virtual Investor Conference on April 30th