Categories
Base Metals Junior Mining Precious Metals Uncategorized

Your Crystal Ball for 2023

No one, has a crystal ball when it comes to the future. But, we wanted to share how you may want to position ourself for the future.

#1 PURCHASE PHYISCAL PRECIOUS METALS

  • Why: As a Savings/Financial Insurance/Protection from Government Stupidity.
  • Where to Buy: Maurice Jackson: https://www.milesfranklin.com/faq-maurice/
  • Frequency: Every 2 Weeks.
  • Percentage of Portfolio: Minimum 10%, but we hold approximately 35% in our portfolio.
Economics in One Lesson, Proven and Probable

GREAT FOUNDATIONAL READINGS:

  • Methodology: Using the Ratio’s.
  • Dow:Gold Ratio is indicating that Gold is on sale relative to the Dow. When the ratio is between 4-5, it is more favorable to be in general equities and real estate. At present the ratio is 1 share of the Dow = 18 oz of Gold.
  • Looking further, Silver and Platinum are on sale relative to Gold.
  • Gold:Silver Ratio At present 1 oz of Gold = 76.5 oz of Silver. When the ratio is between 45-54 trade your Silver in for Gold. Note: Silver Eagles have demanded a significant premium the past 8 months. Which actually reduced the Gold:Silver Ratio inside the 45-54 range.
  • Platinum:Gold Ratio: At present .59 oz of Platinum is = 1 oz of Gold. When the ratio is equal to and or greater than 1, trade your Platinum in for Gold.
  • A great resource on the power of Ratio’s and when to buy and sell is: Bob Moriarty’s: Nobody Knows Anything (Must Read)!
Nobody Knows Anything, Proven and Probable

#2 ROYALTY AND PROJECT GENERATORS

  • Royalty and Project Generators use a unique business model relative to their mining industry peers.
  • Why: They tend to outperform mining exploration companies accretively (Highlighted Below):

ROYALTY COMPANIES: https://www.visualcapitalist.com/sp/how-precious-metals-royalty-and-streaming-companies-create-value

PROJECT GENERATORS: https://www.visualcapitalist.com/project-generators-exploration-risk-lower-cost/

#3 JUNIOR MINING/EXPLORATION COMPANIES

  • These companies are most speculative and offer tremendous upside and conversely a lot of downside. We are biased and are active buyers of our partner/advertisers found (Here). For a deeper dive into the mining/exploration industry: (Must Reads):
  • What Became of the Crow by Bob Moriarty
  • Mineral Exploration and Mining Essentials by Robert Stevens
Mineral Exploration and Mining, Proven and Probable

EXPLORATION COMPANIES: https://www.visualcapitalist.com/mineral-exploration-roadmap/

#4 HOLD YOURSELF ACCOUNTABLE

  • Commit your future to paper. Not having a plan, is a plan. A foolish one, but is a plan. If you don’t have a plan for your savings and investments someone else does. SCHEDULE YOUR PATH.
  • Be willing to study each of the aforementioned. Don’t believe the hype! Don’t get mislead by fancy thumbnails, price predictions, and narratives on manipulation. Is there manipulation? Yes, in every market! Don’t complain about manipulation, learn to leverage manipulation in your favor by realizing you are being offered a discounted price!
  • Be pragmatic, and be patient. Your competition is never patient. They want to price to rise on their schedule, which was yesterday. They will be your best friends, because they have have fast hands and love to sell at the wrong time. If the price goes down, and nothing fundamental has changed with management, the project/s, and or results, there is your buying opportunity!!!
  • Very few investors/speculators are in this space, you don’t have much competition. The best way to beat your competition in this space, is not to follow the herd. Remember, no one get’s it right all the time, you just need to be better than your competition.
Categories
Base Metals Breaking Energy Junior Mining

Copper Is Heading For New Highs- A Bullish Trend In Nevada Copper (NEVDF)

  • Copper corrected from the May record high and made higher lows
  • Four reasons the copper bull will take the price to new highs
  • Impressive price action in the face of Chinese selling
  • Nevada Copper- Three reasons why NEVDF is could outperform percentage gains in the nonferrous metal
  • Bull markets rarely move in straight lines- The next leg for the copper bull has begun

When Goldman Sachs called copper “the new oil” in April 2021, the price was on its way to a new record high at nearly $4.90 on the nearby COMEX futures contract. The world’s most active and liquid copper market on the London Metals Exchange reached a peak at over $10,700 per ton in May. Copper blew through the 2011 $4.6495 previous all-time peak as a hot knife goes through butter.

Even the most aggressive bull markets rarely move in straight lines. Corrections can be brutal when prices accelerate on the upside, reaching unsustainable short-term peaks.

Copper ran out of upside steam before touching the $4.90 per pound level on futures and $10,750 per ton level on LME forwards. The price fell just below the $4 level in August, three months after reaching the high. Copper was still “the new oil” when the price dropped, and the world’s leading copper consumer was hoping it would continue to fall. China has done everything to push copper’s price lower, but the red metal has exhibited remarkable resilience.

Meanwhile, Nevada Copper Corporation (NEVDF) has been working day and night to ramp up production and transform its balance sheet. The market has rewarded the company as the share price has been steadily increasing since the beginning of October.

Mining companies provide investors with leveraged exposure to a commodity as they tend to outperform the price action on the upside and underperform during corrections. Junior mining companies can magnify the leverage. Copper’s recent explosive move suggests that new highs are on the horizon. NEVDF has the potential to do even better on a percentage basis as the company ramps up its production of the red industrial metal.  

Copper corrected from the May record high and made higher lows Copper futures ran out of steam at just below the $4.90 level, with the LME forwards moving the $10,747.50 per ton level for the first time. The May highs led to a substantial correction that briefly took COMEX futures below $4 per pound in August.

Source: CQG The chart shows the decline from $4.8985 in May to a low of $3.9615 in mid-August, a 19.1% correction. COMEX futures made higher lows of $4.0220, $4.0545, and $4.1140 in late September and early October before blasting off on the upside to over the $4.70 level as of October 15.

Source: Barchart

The chart illustrates the decline from $10,747.50 on May 10 to a low of $ 8,740 per ton on August 19 as copper forwards corrected by 18.7%. Copper then made higher lows at $8,810 on September 21 and $8,876.50 on October 1 before exploding higher to the $10,281 level on October 15.

Four reasons the copper bull will take the price to new highs

The four leading factors supporting a continuation of new and higher highs in the copper market are:

  • Rising inflation– CPI rose by 5.4% in September, once again exceeding expectations. While the Fed will likely begin tapering quantitative easing, tapering is not tightening. Moreover, fiscal stimulus continues as the multi-trillion budget will pump more inflationary stimulus into the economy.
  • Building demand– The infrastructure rebuilding package in the US will increase copper requirements for construction projects to rebuild the crumbling roads, bridges, tunnels, airports, schools, and government buildings over the coming years. Moreover, China’s copper requirements will continue to increase as the world’s most populous country builds infrastructure.
  • Decarbonization– Addressing climate change boosts copper demand. As Goldman Sachs said in April, decarbonization does not occur without copper, making the metal “the new oil.” Copper requirements for EVs, wind turbines, and other clean energy projects is a multi-decade affair for the red metal.
  • Supply shortages– Copper mining companies are scrambling to find new supply sources. Production can’t keep pace with demand- It takes eight to ten years to bring new copper mining projects on stream. BHP, a leading global mining company, is in talks with Ivanhoe Mines for participation in the Western Foreland exploration area in the politically dicey Democratic Republic of the Congo.  

Bull markets tend to experience severe selloffs. China has attempted to cool off the bullish copper and other nonferrous metals markets. The world’s leading copper consumer has the most to lose from runaway prices on the upside.

Impressive price action in the face of Chinese selling

On September 1, China auctioned 150,000 tons of copper, aluminum, and zinc from strategic stockpiles, which was the third auction sale since early July, attempting to temper the market’s bullish price action. The market had expected the sales. Copper rallied to the highest level since early August on September 13, with many other base metals following the red metal higher. The price then retreated, but copper made a higher low on September 21. The Chinese auction to cool off the rally put 80,000 tons of copper, 210,00 tons of aluminum, and 130,000 tons of zinc into the market since early July. Since the day of the first auction, copper, aluminum, and zinc prices all posted gains. Imagine where prices might be if China did not sell from its strategic stocks.

In early October, China auctioned the fourth round of base metals, lifting the total sales to 570,000 metric tons. Copper and all the base metals posted explosive gains after the latest auction. China is selling copper, aluminum, and zinc from its strategic stockpiles. The attempt to stem price appreciation makes the Chinese a buyer of the metals on price weakness to replace its stocks. However, the auctions have not had the desired impact on price. The price action has been more than impressive in the face of the sales.

While BHP looks towards the DRC and other regions for new copper supplies, Nevada Copper is making significant headway on its production project in a highly stable political and economic environment in the United States. Moreover, Nevada is a state that continues to encourage mining activity and is rich in red metal reserves.

Nevada Copper- Three reasons why NEVDF has the potential to outperform percentage gains in the nonferrous metal

Nevada Copper (NEVDF) has made great strides over the past weeks and months. A successful junior mining company is positioned best to profit during a bull market in the commodity it extracts from the earth’s crust. Three factors support the price of NEVDF shares as copper has taken off on the upside again:

Factor one: Turing the corner on operations in Q3- On October 6, NEVDF provided an update on operational performance at the company’s underground mine at its Pumpkin Hollow project, noting:

  • Copper in concentrate produced during September increased by 265% compared to August, driven by higher stope production. Approximately 30,386 tons of ore processing yielded 682 tons of copper concentrate at an average grade of 22%, reflecting 150 tons of copper output.
  • Stoping is the process of extracting the desired ore or mineral from an underground mine, leaving open space called a stope. Stoping at Pumpkin Hollow significantly accelerated since mid-August, with the second and third stope panels fully mined and a fourth stope panel currently being mined. Further stopes are planned for October and November, and the high-grade Sugar Cube zone to be mined during the final months of 2021.
  • NEVDF experienced the highest monthly development footage achieved since April 2021 in September, with a 12% increase over August. Approximately 750 lateral equivalent feet were advanced in September.

Outgoing Interim CEO Mike Brown said, “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on-site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”

Randy Buffington, a veteran mining executive with previous management experience at Barrick, Placer Dome, and Cominco, is taking over as President and CEO at Nevada Copper.

Factor two: On October 12, NEVDF announced it had agreed with its senior project lender and concluded a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. The move offers Nevada Copper greater balance sheet flexibility and support for the ramp-up of its underground mining operations and advancement of its open-pit project and broader property exploration targets. The highlights of the more flexible financing arrangement include:

  • Two-year deferral of first loan repayments scheduled to begin in July 2025.
  • Extension of loan amortization with the final maturity pushed to July 2029.
  • Deferral of the formal long stop date for the project as the completion test was deferred to June 2023.
  • All outstanding shareholder loans were consolidated under an amended existing shareholder credit facility.
  • A two-year extension to maturity data until 2026 with no scheduled payments before final maturity.
  • An increase of $41 million in additional liquidity under the amended credit facility.

Randy Buffington, NEVDF’s new CEO, said, “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base.”

Factor three: NEVDF’s value proposition is compelling when compared to peers. The chart shows NEVDF’s market cap versus its enterprise value compared to other diversified metals and mining companies with similar market caps:

Source: Seeking Alpha

As the chart highlights, the enterprise value is over 2.2 times the current $173.53 million market cap, leading to plenty of upside room for NEVDF shares. There is plenty of room for growth as the enterprise value will rise with output from the underground and open-pit mining operations over the coming months and years. According to data from Seeking Alpha, at 97 cents per share on October 15, NEVDF had a $173.53 million market cap. The average daily volume in the past 15 trading days from all exchanges stood at just over 2,500,000 shares.

Source: Barchart

The chart shows the rise from 38.78 cents on October 1 to a high of 99.2 cents per share on October 14. NEVDF shares closed not far from the high at 96.56 cents on Friday, October 15.

The trend in copper and NEVDF is bullish, and the trend is always your best friend in markets.

Bull markets rarely move in straight lines- The next leg for the copper bull has begun

Bull markets can be bucking broncos as corrections are often downdrafts in prices. Copper’s decline from nearly $4.90 to below $4 and recovery to over $4.70 on October 15 is a bullish sign for the red metal.

Copper’s strength, along with the other base metals in the face of Chinese stockpiling selling, has been more than impressive and is a testament to the bullish factors that are likely to push the price higher. Goldman Sachs expects LME copper forwards to reach the $15,000 per ton level by 2025, putting COMEX futures over $6.80 per pound. Other analysts see the price rising to as high as $20,000 per ton as decarbonization will keep demand outpacing supplies.

Bull markets often take prices far higher than analysts believe possible before they peak. As the world searches for more copper to meet the rising demand, Nevada Copper’s mines are in the most economically and politically stable region of the world. NEVDF shares may have just begun to rally as the price threatens to move over the $1 per share level.

Categories
Base Metals Blog Energy Junior Mining Top Bar

HOT CHILI | Releases Maiden Cortadera Resource Adds 451Mt grading 0.46%CuEq*


Mineral Resource


Corporate Presentation

 

Hot Chili Drilling

Building a copper super hub in Chile – ASX: HCH

Hot Chili is one of the top ASX listed copper developers with a Leading Global Copper Project with 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum – Costa Fuego

Hot Chili Limited (ASX.: HCH) ACN 130 955 725
First Floor, 768 Canning Highway, Applecross, Western Australia 6153
PO Box 1725, Applecross, Western Australia 6953
P: +61 8 9315 9009 F: +61 8 9315 5004
www.hotchili.net.au

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Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Top Bar

Find Out Why Rio Tinto just entered into a $45,000,000 Earn-in Agreement with this Explorer

Calibre Mining (TSX: CXB | OTC: CXBMF)


Transcript

In this exclusive interview, Ryan King the VP for Corporate Development and Investor Relations for Calibre Mining shares the value proposition the company presents to the Market. Calibre Mining is a multi-asset gold producer focused on execution and building sustainable value for our shareholders, communities we operate in, and all stakeholders. The company has completed a series of successive accretive transactions for their shareholders which we will address throughout the interview.
First, we will discuss the $45 Million Dollar Earn-In Agreement with Rio Tinto on Calibre’s Borosi Projects which host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets. Second, we will discuss B2Gold And Calibre Mining joininig forces in Nicaragua on the El Limon and La Libertad Gold Mines in addition to completed a CDN$100 Million Equity Financing. Finally, we discuss the expansive, ambitious 40,000 Metre diamond core drilling exploration program that Calibre will be embarking upon on the aforementioned El Limon and La Libertad gold mines. Discover why the value proposition of Calibre Mining is extremely compelling!


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Precious Metals Top Bar

Silver Canadian Maple Leaf Special


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Miles Franklin801 Twelve Oaks Center DriveSuite 834Wayzata, MN 553911-800-822-8080www.milesfranklin.com

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Junior Mining

Ethos Gold Corp. Announces Amended Terms & Increases Size of Flow-Through Financing to Raise $1.5 Million

Ethos Gold

(TSX.V: ECC | OTXQX: ETHOF)

*FOR ACCREDITED INVESTORS ONLY*

Vancouver, British Columbia–(Newsfile Corp. – October 28, 2019) – Ethos Gold Corp. (TSXV:ECC) (“Ethos” or the “Company“) announces that it has revised the terms and size of the non-brokered private placement announced September 20, 2019. Ethos is now proceeding with a flow-through offering to raise gross proceeds of up to $1,512,000 by the issuance of up to 5,600,000 units (each a “FT Unit”) at a price of $0.27 per FT Unit (the “FT Offering”). Each FT Unit will comprise one flow-through common share (a “FT Share”) and one half of one non flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

For more details click below. If you are qualified and want to participate please reference Proven & Probable and contact the following:

Sherman Dahl

Tel. 250.558.3340

dahl.sherman@pretiumgroup.ca 

Tom Martin
Corporate Communications
Tel: 1-250-516-2455
Email: tmartin@ethosgold.com


Finance Details


Categories
Base Metals Energy Exclusive Interviews Junior Mining

NEVADA COPPER Company on Target to U.S. Copper Production by Q4 2019

Matt Gili the CEO, President, and Director of Nevada Copper (TSX: NCU | OTC: NEVDF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Nevada Copper, which is on target for U.S. production in Q4 2019. Mr. Gili, provides updates on the flagship Pumpkin Hollow Project, which hosts both an underground and open-pit deposits. We provide an overview on the supply an demand fundamentals on Copper, where a prudent speculator may position themselves to take advantage of the copper supply deficit.

VIDEO

AUDIO

TRANSCRIPT

Source: Maurice Jackson for Streetwise Reports  (3/18/19)

Maurice JacksonMatt Gili, CEO of Nevada Copper, talks with Maurice Jackson of Proven and Probable about his company’s progress in beginning copper production by the end of the year.

Pumpkin Hollow

Pumpkin Hollow
Maurice Jackson: Joining us for a conversation is Matt Gili, president, CEO and director of Nevada Copper Corp. (NCU:TSX), which is on target to U.S. copper production by Q4 2019.
Nevada Copper has a number of successes to share with reader. But, before you share the unique value preposition of Nevada Copper, Mr. Gili, for readers who may not be familiar with the supply and demand fundamentals regarding copper, please provide us with a 10,000-foot overview.

Matt Gili: When you look at the copper fundamentals, we see a very steady and predictable increase in demand of copper, modest amount, 1.5% per year. We see the move towards electrification of vehicles consuming more copper. We see other things that are offsetting that, but overall, a steady predictable 1.5% increase in the global demand for copper. Where the story really gets exciting, from the Nevada Copper standpoint, is with regards to the supply for copper. What we’re seeing is a lot of restrictions in future supply. We’re seeing a lot of difficulties on bringing on a future supply and backed up by work done by Wood Mackenzie and others, we’re projecting that by 2025, the world will be in a supply deficit of upwards of 6 million tonnes of copper per year. This just really supports what we’re doing in Nevada Copper in setting up the next copper mine.
Maurice Jackson: Now that we have an overview of the supply and demand fundamentals for copper, Matt, let’s discuss how someone listening may position himself prudently as a beneficiary. For someone new to the story, can you give us a very quick overview of Nevada Copper?

Matt Gili: Certainly. Nevada Copper, who’s Nevada Copper? We have an asset in Nevada called Pumpkin Hollow. This is our chief asset. It consists of two deposits: an underground deposit and an open-pit deposit for copper. We’re currently in the construction phase for the underground project with production from that underground project coming online later this year. I think we’ll talk more about that later. Regarding the open pit, we’re currently in the process of wrapping up the prefeasibility study for the open pit. You’ll see that being published in April of this year. Then, we have a regional land package of well over 15,000 acres that we are looking at really understanding, really unlocking the full value from that land package. That’s really Nevada Copper, building a copper mine coming into production later this year, with a lot of expansion into an open-pit mine, as well as regional exploration.

Maurice Jackson: Let’s provide readers the latest updates on Nevada Copper, as the company has been very proactive on a number of fronts. Please provide us with an update on the construction progress. I would like to begin with the multi-million dollar question, are we on track to enter production in Q4 of this year?
Matt Gili: Yes, Maurice, we are on track to enter production in Q4 of this year. We are very proud of that. The team’s doing a fantastic job. We have construction activities both on surface with Sedgman building the process plants, as well as underground cementation, both sinking shaft and doing lateral development on our main shaft. All that’s coming together very nicely. We are absolutely on track for commissioning of the plant in the fourth quarter of this year.
Maurice Jackson: As Nevada Copper is preparing for production this year, have you increased your staffing to meet the growing demands?
Matt Gili: That’s a really good question and yes, we have. We’ve increased our staffing. It’s an operational readiness question that you’re asking. This is where I want to stress to you and readers that this concept of operational readiness is foremost in our thoughts and how we’re planning for really becoming, not just building a great mine, but operating a great mine. When you look at the staffing, so far, our staffing, by design, is quite modest. We’re looking at a total workforce of Nevada Copper employees of around 30. That is because this is our model, a very lean, efficient operation. We utilize high-quality, expert service providers as necessary, to make sure that we are operating very efficiently.
Maurice Jackson: Is Nevada Copper still actively recruiting and if so, what positions?
Matt Gili: Yes, we are actively recruiting. Most of our positions open are technical and specialist positions, and would be part of the management team. I absolutely encourage anyone interested in what we’re recruiting for to contact the Nevada Copper website. You’ll see the complete listing of opening jobs there, as well as information on how to apply for any of these positions if you’re interested.
Maurice Jackson: Pumpkin Hollow is unique in that you have both an underground and an open-pit mine. Let’s discuss exploration and expansion potential. What initiatives is Nevada Copper taking to optimize the full potential of the Pumpkin Hollow project?

Matt Gili: We are in the process of constructing the underground, which has a large amount of upside potential. We’ll really only explore that upside potential when we’re underground, after we’re in production. We really look forward to updates on that front in 2020, and the reason for that is very simple. It’s just much more efficient to drill out the prospective areas of the underground from the underground; the holes are shorter. It’s just much easier. That’s really where the underground sits right now, in a holding pattern as far as expansion potential. When you look at the open pit, that’s where a lot of great energy is going into expanding the open pit, understanding the open pit better, really getting that ore body knowledge to allow you to build a world-class operation. That is part of the PFS, which is coming out in April of this year.

That PFS will include the drilling campaign that we completed in 2018, the 26 hole drilling campaign. It will include those results in the resource model. That’s going to give you an even better idea of the full potential of the open pit. The real excitement that we have is with regards to the region itself, a large region, relatively unexplored, but with large amounts of historical copper production, as well as great physical outcroppings of copper mineralization. This is really where we’re going to focus our efforts during 2019, to really get a chance, now that we’ve tied up this land package, to understand what we have.
Maurice Jackson: Speaking of the region, there was a regional survey conducted that led you to staking more land. Can you share the results with us?

Matt Gili: We staked a section a land that we refer to as the Teddy Boy Claims. This is about 5,700 acres of land to our northeast. We are very glad to have this in our portfolio. The criteria for that selection was we brought together experts on this region and experts in copper mineralization. They identified that as a really prospective area and where we should be really focused on. We’ve staked that land, secured it for our ability to explore over the next several years.
Maurice Jackson: Does Nevada Copper plan to drill the new area at some point this year?
Matt Gili: We plan on drilling this year. I really haven’t put out the entire drill program for 2019. We’re still pulling that together and analyzing where to best spend the monies we have available for exploration. We would like to drill that this year. Some more prospective holes, really not an in-depth blanket campaign, but probe a few really interesting areas over there and get a better idea for the drill campaign.
Maurice Jackson: It’s one thing to have tonnage and grade, but you must equally have astute business acumen to make the numbers work. Now, Nevada Copper is in discussions regarding an ECA-backed project finance facility to further optimize the balance sheet, as well as lining up a working capital facility and further offtake agreements to improve the economics of Pumpkin Hollow. Please provide us with the details.
Matt Gili: You kind of said it all. I can’t really provide you with any more details, but I can surely stress what you’ve just said, Maurice. We are in discussions with this export, credit agency style backed project financing. This is going to provide us the opportunity to substantially reduce the cost of our debt service, as well as attract strong and robust financial partners for potential future open-pit developments. Something we’re very excited about and it’s part of really creating Nevada Copper as a world-class company.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Matt Gili: The capital structure is well defined. We have $8 million in long-term debt. We have $153 million of cash or cash equivalents. When you look at the financing package specifically for the underground, we’re fully financed, including the working capital facility to take us through operation ramp up. The inputs into that are an equity raise that we did in the middle of last year, as well as a streaming deposit with regards to a stream arrangement on the precious metals strictly from the underground deposit. We also have a $25-million subordinated debt package. Really a standby loan facility that we can use if necessary.
Maurice Jackson: In closing, I have a multilayered question. What is the next unanswered question for Nevada Copper? When can we expect a response? What determines success?
Matt Gili: I would not classify our successful completion of underground construction and bringing them in operation as an unanswered question. That is going to happen, and I’m very proud of the activities that have happened so far. The real unanswered question for the investors out there, is what is the true potential of the open pit? There’s been a lot of great work done, a lot of exploration done, last year. That’s all been incorporated. I’m really going to be excited when the PFS is released and we can share the details of the open pit potential with the public. They are going to be very impressed and they’re going to see the picture. They’re going to see what we see when we get so excited about Nevada Copper.
Maurice Jackson: Speaking of the prefeasibility study, give us a timeline on that, sir.
Matt Gili: We’ll release that in April. I’m being careful. I don’t want to be too specific. It will be in April of this year. Next month.
Maurice Jackson: Mr. Gili, last question. What did I forget to ask?
Matt Gili: Maurice, forget to ask? You’re always very thorough, so I wouldn’t say you forgot to ask anything. What I would say is I want to reiterate something that we at Nevada Copper have been thinking about over the last month. Unfortunately, for the world, the last month has been a month marred with tragedies, with risk and with unexpected events. What we’re really stressing, with Nevada Copper, is the risk management of Nevada Copper. We are an operation that is on private land. We’re not waiting for any permits. We’re not waiting for records of decision. We’re utilizing EPC contractors, who have that fixed price nature, reduced risks. We’re building a dry stack tailing facility. We’ll never have a wet tailing storage facility at Pumpkin Hollow.  We’re doing this all with a proven, experienced team of mine builders and operators. Really wrapping that up, that concept of low risk, risk mitigation. We are going to build and operate the next mine and there’s very little risk to that execution.
Maurice Jackson: Matt, if investors want to get more information about Nevada Copper, please share the website address.
Matt Gili: Absolutely, www.nevadacopper.com. We love to get your input. You’ll see our investor presentationsthere in our latest news. Let us know what you think.
Maurice Jackson: For our audience, we wish to remind you that Nevada Copper trades on the TSX symbol, NCU, and on the OTC symbol NEVDF. For additional inquiries, please contact Richard Matthews at (877) 648-8266 or you may email RMatthews@nevadacopper.com. Nevada Copper is a sponsor and we are proud shareholders for the virtues conveyed in today’s message.
Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Matt Gili of Nevada Copper, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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Base Metals Energy Exclusive Interviews Junior Mining Project Generators

(VIDEO) FISSION 3.0 Prospect Generator in Position for Uranium Turnaround

Ross McElroy the COO and Chief Geologist for Fission 3.0 (TSX.V: FUU | OTCQB: FISOF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Fission 3.0 and their Property Bank. In this interview Mr. McElroy provides the macro economics for uranium and how one may allocate their uranium holdings in a Uranium Project Generator with a Property Bank with projects located in high-grade uranium districts, with proven management and technical team that has a 20 year history of delivering success to shareholders.

VIDEO

AUDIO

TRANSCRIPT


Original Source: https://www.streetwisereports.com/article/2019/03/16/prospect-generator-in-position-for-uranium-turnaround.html
Maurice Jackson: Joining us for a conversation is Ross McElroy, the COO and chief geologist for Fission 3.0 Corp. (FUU:TSX.V; FISOF:OTC.MKTS): A Uranium Project Generator and Property Bank. Ross McElroy, glad to have you back on the program to share the value proposition of Fission 3.0. Before we begin, Ross, I’d like to begin with some basic fundamentals regarding uranium. For someone new to the uranium sector, what is uranium, and where is it used?
Ross McElroy: Uranium is really all about energy. The way we use uranium is for nuclear fuel. That’s basically the fuel that runs reactors.
Globally nuclear power constitutes between 15% and 20% of the electrical requirements. That’s really where the majority of the uranium is used. There is some uranium that’s used for strategic purposes on a country by country basis, more for the Department of Defense reasons. But really, the vast, vast majority of uranium is used to fuel nuclear reactors.
Maurice Jackson: Provide us with some metrics on how abundant uranium is in the Earth’s crust, and correlate that to the average grade that is found versus the grade that is needed to define an ore deposit in a future mine?
Ross McElroy: Well, uranium is actually one of the most abundant elements in the Earth. It’s kind of ubiquitous. You’ll see it throughout the Earth’s crust; there is trace amounts of uranium present primarily in volcanic and igneous rocks and sedimentary rocks.
On a deposit level, there’s actually a number of uranium deposits around the world, in every continent on the planet and in many countries. On a global basis, the average grade of a uranium deposit worldwide is around 0.1 to 0.15% U308.
Now, if you compare that to say, the deposits in Canada, they’re orders of magnitude higher grade in Canada. We’re talking orders of magnitude that are 10 to 20 times that of the global grade.
Although I’ve given you the average grade, most of those deposits at those lower grades, the average grades are really uneconomic deposits. We need grades that are generally much higher than the 0.1%–0.15% if it’s going to be an economic deposit. And that’s what Canada has. Canada has very high-grade deposits, so the economic metrics are just that much more attractive in Canada.
Maurice Jackson: Now that we’ve identified uranium’s utility, what can you share with us from a supply and demand perspective?

Ross McElroy: Well, it’s fairly simple to understand what the demand for nuclear energy is, in other words, uranium. We can just multiply the number of reactors around the world that are currently operating, and the known fuel consumption rate for a 1000 megawatt reactor is just under 500,000 pounds of uranium a year. If we look at the global reactors, there are around 450 reactors around the world. You can see that the need for uranium on an annual basis is around the realm of almost 200 million pounds of uranium.
Maurice Jackson: How does the nuclear plant in Fukushima, Japan, fit into this narrative?
Ross McElroy: Japan historically, up until the Fukushima event in 2011, was one of the main users on a country basis worldwide. Japan I think consumed almost 20% of the world’s nuclear power, in other words, 20% of the world’s annual production of uranium was used to run the Japanese reactors.
In 2011, of course, we had the magnitude 9 earthquake followed by a tsunami, and that’s what damaged the Fukushima facility. Interestingly enough, even with that magnitude of an earthquake and the soon-to-follow tsunami, the reactor still did not breach. The housing that surrounded the reactor was damaged, and this is where some of the radiation leaks came from, but the reactor itself actually held, and so the damage was actually very, very limited and manageable.
What happened is overnight, Japan shut down all of its nuclear reactors, in other words, all 52 reactors I think they had working at that time, went offline. That caused disruption to the supply/demand situation globally.
What’s happened since then is Japan is slowly coming back on. Japan’s alternatives for power are pretty limited as the country doesn’t have very much of its own resources, if any at all. It imports whatever energy that it needs, be it in natural gas now, in nuclear.
It’s important for Japan to be able to operate these factories that they’re running. I mean, it’s an exporting country around the world, so it does have high energy requirements. It also has the requirements for inexpensive power.
Japan is coming back on to the scene as far as nuclear power. There are eight reactors that are currently back up and operating, and 17 reactors that are in the near-term licensing for approval to get them restarted again.
I think the bottom line is, prior to Fukushima, Japan depended on nuclear energy for at least 25% of its electricity demands. I think by the time 2030 approaches, Japan is supposed to be right back up to those same levels. The country is coming back on, it has always been an important major consumer of nuclear power. I think we’ll see it right back to the equation again in the very near future.
Maurice Jackson: Uranium, next to gold, is known as the other yellow metal, and here’s why. Ross, let’s step back to the bull market in uranium. If one was selective with the uranium holdings, they would’ve had generational changes in their portfolio. What was the spot price during the last bull market?

Ross McElroy: Well, in 2002, uranium was around, I don’t know, about $15 a pound. This is on the spot market. That’s what uranium was trading for.
In 2003–2004, we really saw the lift off of the price of uranium. In fact, it peaked at 2007 to around $140 a pound. It went almost a 10-fold increase in the price of the commodity between 2003 and 2007. The peak at 140 didn’t last particularly long, but it had a slower decline until about 2008—2009, it stabilized, and then it peaked back up again.
Really, it was holding steady. I guess this is the point I would want to make, is that we were starting to see a steady state price of between $50 to $70 a pound, and then the Fukushima event hit that we talked about in 2011, and that really threw the whole pricing structure right out the window. We’ve been working on our recovery ever since.
Maurice Jackson: What is the spot price for uranium today?
Ross McElroy: Currently we’re about $28 a pound for uranium. It has recovered; we’re off the bottoms of $17, $18 a pound just a couple of years ago. Uranium is making its way back.
Maybe the important point here to note is we’re still at prices that the majority of mines around the world are not profitable. Even the lowest cost producers are really not operating in an environment where they can make money with uranium prices what they’re at right now.
What we’ve seen is that the supply is starting to be restricted as the producers are taking a lot of that uranium off market; they’re not supplying it to the utilities at this cheap price, because it’s not a working business model to lose money in the long run on the mining of the commodity.
We are seeing an improvement in the price of uranium, and it’s been about a year and a half in the making. It’s gone up from the $18 that I mentioned to about $28 a pound, but it certainly has a lot more room to move upwards even before we can start to get production back online to meaningful levels.
Maurice Jackson: What is that spot price that companies right now, uranium companies I should say, for them to earn their cost of capital? Is the number around $60 for a spot price of uranium?

Ross McElroy: I believe you are correct. We’re seeing prices that globally, they have to be in the $60 to $70 a pound really to bring on any meaningful production.
One of the clues that I look at when we look at the best uranium mines out there, the lowest cost producers, those would be McArthur River deposit in Canada’s Athabasca Basin in Northern Saskatchewan. That is one of the best uranium mines in the world, certainly the largest highest-grade operating mine. Cameco took that offline because of the prices of uranium where they were at, they weren’t making any money on the mining of this deposit.
There are some indications that Cameco won’t turn that mine back on into being a producer until the price of uranium is somewhat north of $40, maybe $45. Something in that realm.
I don’t have an exact number there, but it does tell you that if you’re going to even bring back the best of those deposits, you really need prices that are something of $40 to $45. As we mentioned earlier, the price for many of the other deposits around the world are probably closer to $60 or $70. You can see, there’s still lots of room for improvement.
Maurice Jackson: The current price of uranium does not support the fundamentals. What correlations do you see today that may exceed the returns from the last bull market?
Ross McElroy: Well, it’s sort of an elastic situation. I think that the longer that we keep depressed prices, yet the demand is still there and growing, reactors are being built, the need to fuel these reactors, that’s not stopping.
In fact, it’s growing. You have the primary suppliers of uranium, i.e., the mines that are not supplying it, the longer that the prices are low, the more rapid that climb will be in the price of uranium when it does correct.
I think there’s a possibility, as I’ve heard some analysts call it, a violent reaction upwards to the price of uranium. I think we’re going to see some substantial price increases within some short vision of time, maybe a year or two or three. Something in that realm that I think will be quite meaningful.
We’ll see what happens, but the longer it stays depressed, the more likely and quicker the rise will be when it does come.
Maurice Jackson: Ross, you’ve provided a compelling case on the fundamentals for uranium. I know readers may be asking, how will all of this demand for uranium be met? Mr. McElroy, please introduce us to Fission 3.0.
Ross McElroy: Fission 3.0 is a uranium explorer. This is a company that we spun out of Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE), our larger company, back in 2014 when we bought out our partner on the Patterson Lake project, and in so doing with that process from that arrangement, we spun out our non-core assets, the more grassroots exploration projects.
We’ve been able to build up an exploration portfolio, primarily focused in the Athabasca Basin. Remember, the Athabasca Basin is Canada’s only producing uranium field. That’s where the McArthur River deposit is, this is where Fission Uranium has the Triple R deposit. There’s some fantastic deposits out there.
That’s what we’re exploring for in Fission 3.0. We’re looking for the next high-grade uranium deposit in the Athabasca Basin.
Maurice Jackson: You referenced that you’re a project generator. There’s a lot of ambiguity regarding project generators. Please share the virtues and why Fission 3.0 took on the project generator business model?
Ross McElroy: Project generators are really all about sharing the risk. In our case, what we do very well is pick ground. We’ve been able to strategically stake ground in the Athabasca Basin, we’ve made discoveries on two of our properties, the first one in the company called Fission Energy that we made the discovery at our Waterbury Lake property, and later on in Fission Uranium Corp on our PLS property.
That have been situations where we’ve had joint-venture partners sharing the risks, sharing the costs with others. To use the model, what we do is we use our brands and other peoples’ money. That’s really what we’re good at, that’s basically the model that we have.
We have a very highly trained technical team that’s exceptional at picking out high-quality projects. We attract other people who are looking to get into the uranium business, looking to partner up with a team such as ours and join us for the ride to make a discovery.
It’s really all about sharing risk. That’s really what the project generator model does. It’s our land, and we partner with good quality people that can fund a project, and that’s how they earn into it as well.
Maurice Jackson: Do you currently have a joint-venture partner? If yes, who and what are the terms of the relationship?
Ross McElroy: We have had joint-venture partners in the past, and very successful ones. As I mentioned earlier on our Waterbury project, we had a partner with the Korean utility called KEPCO. It earned in by spending a certain amount of money on the property each year over the course of a three-year period.
What we did with that, we were able to make a discovery, using the money in that project, we made a discovery, built up the resource estimate on there, and eventually sold that asset. That was how our shareholders were able to take advantage of our monetizing on the property.
I guess we could say the same at the PLS project, which we now own 100% of it, but that was also a partnership. We shared in the risk early on and in the money early on with our partner. We eventually bought them out in 2014. That was another example of a successful joint venture partnership.
Each one of the deals would be a little bit different from each other. It is a model that we think works very well. I will note that in our property down in Peru as well, we have a partnership that we’re still looking to finalize the deal. This is one where another group has approached us, said it’s interested in the potential of a property down in Peru. It will spend a significant amount of money having us as the operator. Hopefully we’ll make a discovery down in Peru as well.
Maurice Jackson: Well, you’ve just alluded to my next question. Fission 3.0 has 18 projects in its project bank. Now, it is strategically located in premier, high-grade uranium districts in Canada and Peru. Mr. McElroy, introduce us to the Fission 3.0 Project Bank (click here).

Ross McElroy: We have 18 properties in the Athabasca Basin. Our properties, we think that everywhere in the Athabasca Basin has the potential to host high-grade uranium projects.
One of the keys that we seek to identify are deposits that will be shallow. In other words, the closer a deposit is to surface, the easier it is to build a case that this could be a project that could go into production. It’s an easier mine to develop the closer it is to the surface.

Really deep deposits are challenging. They still exist, but they’re challenging. Eventually they cost more money to find and cost more money to get out of the ground. They’re just another level of challenge.
If you look at our 18 properties, they’re all in and around the edge of the Athabasca Basin, where we’ve had a great deal of success finding near-surface mineralization.
Our PLS project that hosts the Triple R deposit in Fission Uranium is a great example of a near-surface deposit. The mineralization starts at 50 meters below the surface, so 150 feet below the present-day surface is where the high-grade mineralization starts. That makes it a potentially open-pit deposit, which is generally low cost and gives you a lot of flexibility.
This is the sort of thing that we’re looking for in Fission 3.0. We’ve got very good properties that are in known mining districts, conversely, we have a good portfolio of ground around the southwest side of the basin where our PLS project in Fission Uranium is hosted, and also NexGen’s Arrow deposit, it’s all in that same area. We have the significant land package that surrounds that area.

We also have a good strategic land package in and around the Key Lake area on the southeast side of the basin. This has been, and still currently is the hot bed of uranium mining in Canada right now. This is the side of the basin where the McArthur River and Cigar Lake deposits are located.

McArthur shut down for economic reasons waiting for higher uranium prices. It was an operating mine up until about a year ago, and Cigar still is in operation. You’ve also got the Key Lake mine.
It’s a strategic area to have a good land package. We think there’s lots of opportunities in and around land in that area to make a new discovery.

And probably third for us is the land package that’s up in the northwest side of the basin, in the old uranium city Beaverlodge district where uranium mining in Saskatchewan first got started back in the 1950s and was the going concern back in the ’50s and the ’60s, I think there were about 52 operating mines up in that area, pretty small scale most of them, but still lots of high-grade uranium. That’s an area where we think that there’s still plenty of exploration potential.
Between all those areas, we’re going to be active and we’re going to be looking for the next high-grade uranium deposit in Saskatchewan.
Maurice Jackson: Speaking of being active, is there active drilling going on right now in these projects?
Ross McElroy: There is active drilling. We did drill in the southwest side of the basin. We were drilling in January on our PLN project. That project is just immediately north of Fission Uranium’s PLS project.
You’re really talking about the same area where the latest discoveries have been found, where you’ve got the Triple R deposit, you’ve got NexGen’s Arrow deposit. These are two of the best new deposits that have been found in the Athabasca Basin in the last 15 years.
We have a package around there called PLN, and we did drill six holes in there earlier this year. It has the potential to host another one of these fantastic deposits, so we are going to continue looking there. We see all the signs present that tell us that this is where we’ll make that discovery.
As we’re speaking right now, we’re drilling over in the Key Lake area that I described earlier. This is over on the southeast side of the basin, about 200 kilometers to the east of the PLS drilling. That is a program where we’ll drill probably eight or nine holes, just south of the Key Lake Mill and the old historical Key Lake deposits. There’s areas of activity there. We’ll continue drilling throughout the rest of 2019 on a number of our projects.
Fission 3.0 is active. We were able to raise some significant money early in the year, in late 2018. We’re going to be active. This is how we’ve been successful in the past, is by being aggressive, looking in places where people probably haven’t looked for a while or never even thought to look, and putting our technical team to work. Yes, you’ll see pretty good news flow out of Fission 3 this year.
Maurice Jackson: Ross, let’s expand the narrative on the project bank portfolio and go south into Peru. What can you share with us there?

Ross McElroy: Peru is a really interesting area. Where our projects are is called the Macusani Plateau, located in southern Peru, near the Bolivian border. The Macusani Plateau has shown at least over 100 million pounds in near-surface uranium deposits.

There’s a company down there that’s quite dominant called Plateau Energy. Plateau has been able to stake a lot and consolidate a land package in the area, and consolidated all these old deposits. It has amassed around 100 million pounds of uranium in these uranium deposits.

However, even more significant, Plateau made a discovery of high-grade lithium in the same area, and in fact, that’s within five kilometers of our southern property boundary on our Macusani plains. Not only do we have the potential now to host near-surface uranium deposits, and we have shown in fact that we do have mineralization on our property for uranium, we’ve mapped it, we’ve drilled, we’ve trenched and found high-grade uranium, but now the potential’s there for hosting high-grade lithium.
This is really a new dimension that we have down in that area, that we wouldn’t have had say, two or three years ago when we were last down drilling. You’ve got uranium, and now we have lithium. It’s a very interesting up-and-coming area as well.
Maurice Jackson: Switching gears, Fission 3.0 has the right projects in the right place at the right time. But that’s only part of the story. Equally important are the people that are responsible for increasing shareholder value. Mr. McElroy, please introduce us to your board of directors.
Ross McElroy: Thank you, and I appreciate that. We do have a very successful team. Our founder of Fission 3.0 is also the same CEO and founder of Fission Uranium, and previously Fission Energy before that, and Strathmore.
Dev Randhawa has been involved in this company right from the get-go in its first iteration back in 1996, and also heading up Fission 3.0. Dev is the longest running CEO in the uranium sector.
Myself, I’ve been involved with Dev 12, 13 years now. We’ve had a great successful relationship. We’re able to raise money, raise attention, put that money to work, make discoveries, and basically build shareholder value right from the bottom up.
This is the group that I think, we’ve been able to deliver in the past, and we’re going to be able to deliver shareholder value as we move forward in this much improving uranium sector.
A lot of the same players that we’ve had all the way along, still keep also in the Fission 3 group.
Maurice Jackson: Who is on your management team?

Ross McElroy: The management team is composed of our CEO Dev Randhawa and chairman. I am the chief operating officer, and also the chief geologist. We have maintained the same structure that we have in Fission Uranium, is the same that we have in Fission 3.0. It’s a fairly lean team. Phil Morehouse is president of Fission 3.0. We kept a pretty lean mean machine in Fission 3.
Don’t forget, we’ve had up until just recently in the last six months, it’s been a very quiet company, there hasn’t been a lot of exploration activities in the uranium sector. I think as we start to ramp up, with our level of activity increasing, we’ll start to draw more and more people into roles and developing roles within the company as we begin to be active, get out and start marketing the story more, get on the ground and back that up with real results, we’re going to continue to build our team.
Maurice Jackson: Before we move on to your impressive technical team, in the natural resource basis, why is it wise to follow proven winners? Ross, you alluded to it earlier, you and CEO Dev Randhawa have a proven pedigree of success. How were shareholders rewarded as far as returns for their loyalty to sticking with your team?
Ross McElroy: Well, if you owned the original company at the beginning, which would’ve been Strathmore Minerals, and you’d held on it to all the way throughout, over the last 20 years since about 1996, 97, you’d probably own about five different companies right now.
What’s happened is we’ve moved on to a new phase, we’ve made discoveries, advanced projects, sold different projects to different groups. What we’ve been able to do is form new companies, split off new companies in what they call a butterfly transaction.
You have shares in the new company, still maintain your shares in the old company, so you would’ve received essentially what would look like dividends in the way of different shares for five different companies since that time. The shareholders that have been loyal and sticking with us would’ve succeeded quite handsomely all the way along.
Maurice Jackson: Your technical team is exceptional. I had an opportunity to meet them in the summer of 2016 at the site visit there. Please, introduce us to them.
Ross McElroy: We’re very, very proud of this group. This has been the team we’ve had, the same core group of people with us since 2010. With that same group, we were able to make our discovery on the Waterbury Lake project, and then followed up in 2012 with the discovery of PLS. It’s the same group that is very core and important to us in Fission 3.0.
I do head up the team and the technical group, so I would be the team leader or chief geologist for the technical team. My right hand guy is Raymond Ashley, he’s the VP of exploration. Ray is an excellent geoscientist who I’ve had the pleasure to work with for over 30 years in this sector, so we’ve been working pretty close together. Definitely a proven mine finder.
We’ve basically held the same group of people together on the project managers, all the structural scientists, geochemists. We’ve kept the same core group together over the last almost 10 years or so.
To me, that’s really the key. You want a team that works together well, good chemistry with each other, the ability and the environment to think outside of the box. Really, the goal for each and every one of us is to responsibly make world-class discoveries. That’s what we’re all about.
We’ve got an excellent team. All the key people are listed on the website. You’ll be able to go there and see the roles of the various groups there in the technical team, but there’s about seven or eight of us that have been able to be what I consider the core team for the last decade or so.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Ross McElroy: In Fission 3.0, we have 142 million shares outstanding. We were able to raise a significant amount. We have just under $7 million in the treasury right now, that’ll allow us to be active over the next two years or so.
Maurice Jackson: What is your burn rate?
Ross McElroy: The burn rate, because it’s exploration, it’s pretty discretionary spending. We have $7 million that we have in the treasury right now, that’ll certainly carry us over the next two to three years of pretty aggressive exploration spending on our key projects. We can dial that kind of number up, and we can dial it back as conditions warrant. That’s the benefit of being in exploration.
The burn rate is actually pretty minimal. In other words, we run a pretty lean shop as far as the number of management and corporate costs. Really, the majority of the costs are exploration spending, which is really entirely discretionary.
Maurice Jackson: How much debt do you have?
Ross McElroy: We have no debt. We’ve not taken on any debt. Basically, the money that we raise have been through equity share offerings. No debt in Fission 3.0.
Maurice Jackson: Who are your major shareholders? What is their level of commitment?
Ross McElroy: When we spun off Fission 3.0 back in December of 2014, it was the same shareholders that were shareholders of Fission Uranium, were the same shareholders in Fission 3.0. We would’ve had a lot of the same loyal, large shareholders, including JP Morgan, even investment from others that we’ve had along the way. It’s been the same loyal group.
We have significant new shareholders now with the financing that we did back in 2018, which was led by the Sprott Global Resources Group out of California. I think we have some new players back to the game, but we have a lot of shareholders that have been with us over the long haul.
These are people that have a good vision of the uranium sector. They know that the good times are around the corner. It’s a point that we believe really strongly, and we think that the sector is improving a great deal.
This is how our loyal shareholders are going to be rewarded, by being a much better market with an aggressive team like Fission 3.0, and the new shareholders will probably be long term loyal shareholders too if we’re successful and able to build value for them as well.
Maurice Jackson: What is the float?
Ross McElroy: Fully diluted, we have 227 million shares. We’ve got shares outstanding, we’ve got options and warrants that we’re a part of financing as well, so 227 million shares out in total. We trade around 240,000 shares a day, I think that’s our average volume.
Maurice Jackson: Multi-layered question. What is the next unanswered question for Fission 3.0? When can we expect a response? What determines success?
Ross McElroy: Well, we are going to be successful through work. We know that a better market should buoy the price up of everybody involved in the nuclear sector. They’re starting to get some life back in the exploration world.
Really, we’ve always built value by our success. We’ve been successful with making discoveries. We now have the money, we have the team, we’re putting them to work. I would look to us as being one of the most dynamic uranium explorers out there. That’s something that I think people can follow, they can see our news release cycle, they’ll see how we’re marketing our story, and just look at the results. I think they’ll speak for themselves.
We’re looking at our projects, we’ll be active throughout the calendar year. I think the news flow will be very strong and steady. People that are interested in following the company will always see that there’s a continuing narrative out there. We want to take advantage of this and improve the uranium market, the fact that we are well financed, and we have the properties that we want to explore. I think there’s a very good opportunity for readers to look at Fission 3.0 as a sector leader in the uranium exploration business.
Maurice Jackson: Mr. McElroy, last question. What did I forget to ask?
Ross McElroy: I think we’ve covered a lot of ground here, and a lot of important ground. One of the takeaways that I want readers to know is we really do believe in the nuclear sector. We think that we have turned the corner and that conditions are improving.
If people are looking to invest in the uranium sector, I think it’s important for them to look at a group that has done it before. Your track record is very indicative of what your future has the potential to look like. I always find myself, when I’m investing, I like to back teams with a proven track record.
We have that in our group. We’ve got an exceptional management team. We’ve done it before. We’ve been able to capitalize on our discoveries by selling assets. We have a unique technical team that has the ability to make discoveries.
So better sector, very good team. Strong management. Those are the ingredients we need to be successful.
Maurice Jackson: Ross, for someone listening that wants to get more information about Fission 3.0, please share the website address.
Ross McElroy: Our website address is www.fission3corp.com.
Maurice Jackson: For direct queries email ir@fission3corp.com, or you may call (778) 484-8030. Fission 3.0 trades on the TSX:V, symbol FUU, and on the OTC, symbol FISOF.
For audience, we’ve been proud shareholders of Fission 3.0 since 2014. Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Ross McElroy of Fission 3.0, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Fission 3.0. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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Junior Mining Precious Metals

ROVER METALS | Firm Advancing Gold Exploration in the Northwest Territories

 

Judson Culter the CEO and Director of Rover Metals (TSX.V: ROVR | OTCQB: ROVMF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of the Cabin Lake Property. In this interview Mr. Culter will provide important updates on the Uptown Gold Property, Cabin Lake Project, and Slemon Lake. Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold). In this interview we will discuss the recent accomplishments of Rover Metals. Ranging from IPO and the implementation of a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program.

VIDEO

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TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/03/10/firm-advancing-gold-exploration-in-the-northwest-territories.html

Firm Advancing Gold Exploration in the Northwest Territories Contributed Opinion

Source: Maurice Jackson for Streetwise Reports  (3/10/19)

Maurice Jackson

Judson Culter, CEO of Rover Metals, speaks with Maurice Jackson of Proven and Probable about historical exploration on his company’s properties, as well as current exploration plans.

Gold exploration
Maurice Jackson: Welcome to Proven and Probable. I’m your host, Maurice Jackson, and joining us for our conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB). Mr. Culter, welcome to the show.
Judson Culter: Thanks for having me, Maurice.
Maurice Jackson: Glad to have you back on the program. We last spoke in January of 2018, and since then Rover Metals has completed its IPO and implemented a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program. But before we begin, Mr. Culter, for first time listeners, who is Rover Metals?
Judson Culter: Rover Metals, we are a precious metal exploration company, specifically gold is our focus currently. We’re co-listed in the United States OTCQB: ROVMF, as well as Canada on the TSX.V ROVR. Our project portfolio is concentrated in and around Yellowknife’s Northwest Territories, one of the most mining friendly jurisdictions in Canada and for North America for that matter. I say that just because that’s where our (Canada’s) diamond mines are. That’s historically where several of our gold mines have been. It’s really the primary employer in the Northwest Territories. Outside of government, mining is it.
Maurice Jackson: Why has Rover Metals received so much interest here of lately?
Judson Culter: I think that’s a two pronged answer. First is just credibility. Going back to 2017 on call with you, Maurice, if one listens to that interview, we talked about how we were going to go public, and how we were going to drill our resources, and how we were going to look to add new resources in the similar area code of Yellowknife.
We’ve successfully accomplished all those tasks. I believe we have strong foundational base in our existing shareholders. We’ve got a lot of credibility with them. We get a lot of word of mouth. I think that goes a long way in a market that can be a little bit over saturated in the junior mining space with which projects or which management teams do you back. I think really that we’ve gotten recognition for that now, which is really helping to drive our current success.

The second prong answer speaks to the projects themselves. Rover has the Cabin Lake Project, which is really what the market is asking for, and that’s why we bought it. When we receive the results from our drilling, we believe we will a high-grade gold historical resource that will contain super high grades that the market wants to see as confirmation that this really could be the next gold mine in the Yellowknife, Northwest Territories.

Not to mention this project itself has all the merits a speculator wants. We have solid infrastructure, the Blue Fish Hydro Dam, roads, all the accessibility and proven area of past producers. The market is beginning to recognize the credibility of the management team and the assets. Also, the awareness that we are near drilling in the not-too-distant future has investors’ attention as well.
Maurice Jackson: Justin, what is the driving thesis for Rover Metals in regards to the Kevin Lake gold project?
Judson Culter: The driving thesis has not changed. It’s the same thesis as in the late 1980s. There’s a project called the Lupin Gold Mine that produced from 1983 to 2003 in the north, which is an iron formation, super high-grade gold. The thought at the time was to go and find another one, and that’s what they thought they had here. This is when Cominco and Freeport McMoRan and then Aber Resources, that’s what they thought they had here. They drove 7,500 meters of at or near-surface iron hosted high-grade gold. The only reason they stopped is because somebody found kimberlites a few years after, and the diamond boom in the Territories began.
This project just kind of sat on the back burner as a result of that. Aber Resources, the owner of the time, of course, went on to find the kimberlites. That’s some historical context on this project and why it’s just now coming back to life.
Maurice Jackson: Talk to us about the business acumen here. When and how was Rover Metals able to acquire the Cabin Lake gold project in such a highly contested and sought out district?
Judson Culter: It wasn’t easy; when we looked at the business case, we figured that with a little bit of just rolling up our sleeves, and getting up there, and meeting the right stakeholders, and just recognizing that this is an area that needs new mines and new projects.
I didn’t think it would be like other areas in British Columbia, for example where BC, trying to get First Nation endorsement can be very difficult. There’s so many competing industries that people can really make a way of life in a jurisdiction like British Columbia, whereas knowing a little bit about the Northwest Territories, mining is a big deal up there. People want to see projects succeed.
When we went into the Cabin Lake project, we knew we had to get a couple of things there to get permits. We knew we had to get our neighbors, Tlicho First Nations, on board. We also did our homework and knew that the Tlicho First Nations had previously worked with Fortune Minerals, as well as Nighthawk Gold. When we got to it, there was a framework in place. There was a government that had been formed.
The Tlicho government and the land use formal plan to work within, for application permits, and applications. So, once we got to it, it ended up only being four months to get it permitted. I think it seemed to keep getting easier for us, and it ended up being a decision that looks like it was the right one to make.
Maurice Jackson: Regarding mineral rights in your project portfolio, are there any reversionary interests?
Judson Culter: There’s a 1.5% NSR that we’ve got viable down to a half percentage point for CA$250,000 per quarter percentage.
Maurice Jackson: And does Rover Metals own the mineral rights outright 100%?
Judson Culter: That’s correct. Yes, not just at Cabin Lake, but at the Cabin Lake group of projects. The claims themselves are 10 kilometers apart; so there’s three of them. For the entire group of projects, yes, we have 100% mineral right interest.
Maurice Jackson: Let’s fast forward to 2018 and discuss your exploration program. What were the results from that program and how has that improved the confidence in the gold project?
Judson Culter: It helped us to better track the iron information. So what we did was we spent the six months from March, when we acquired the project, into October, really to digitize all the historical records. At the time in the 1980s, that was meticulously kept, and it was handwritten. We digitize seven banker boxes of data, as well as three map boxes. Then, we put that in a GPS, and tag the colors and everything else.
Then what we wanted to do to follow on with that data was to run a current, modern-day geophysical program. There were a lot of options to us to do it, but in a really economical manner, but also to do it in a very detailed type formation using a drone. Because the mineralization occurs at or near surface, as well as the iron information itself being at or near surface, it really showed up well on the magnetic survey that we flew over the property. So by interlaying the drill results, as well as the mag survey, our geologist was able to get a better interpretation of the iron formation throughout the project. Really, that really set the stage for where we are going to put the drill when we get to drilling this year in 2019.
Beyond just the iron information, what we also realized about the project is the outcropping on either side is quartz. Historically, the quartz had never been tested for mineralization. So we also did a geochemistry program in October. What that showed us is that the PPM and PPB reading of gold from the quartz outcrop area suggest that it’s also very likely to be a host for gold on this project. It’s never been tested historically. That’s the excitement of 2018 and what’s led into the 2019 drill program, which was always trying to be between March and the end of April. We’re still trying to hold on to that deadline.
We’ve got the collars is ready to go. Right now, we believe what we need to do to start drilling is conduct a small financing that we’ll probably release in the coming week or two here.
Maurice Jackson: So to review the value proposition we had before. This is potentially an open-pitable, early-stage brownfield exploration gold project with historical high-grade resource next to a new cobalt-gold mine, is that correct?
Judson Culter: Yes, and that’s one thing I didn’t touch on is the actual historical resource itself. That’s 85,000 ounces unconfirmed in terms of what our current standards allow us to document as a historical resource. What we’re allowed to document in press releases and everything else is 50,000 ounces of roughly 10 to 12 grams gold per ton. The rest of that 35,000 ounces was never signed off by a Qualified Person, but it is in the NORMIN database in the Northwest Territories. It’s in the areas of the Andrew zone, which we’ve documented. Rover will do the work we need to do under 43-101 standards to take that other 35,000 ounces and get it compliant.
From our side internally, we see it as an 85,000 ounce of resource of 12 grams per ton gold on average. When we talk about it publicly, we have to say, 50,000 from a historical resource perspective, but you’re absolutely right that we’re 20 kilometers away from what’s looking to be Canada’s first cobalt mine. The reason I say that is this project’s been 20 years in the making; it’s at the feasibility stage. I believe they’re really just looking to raise the capital to get to work. It’s an open-pitable cobalt mine. The good news is it’s actually a cobalt gold bismuth. So there is a gold processor that’s going to be built 20 kilometers from us. What better news can you possibly have when you’re developing an at-surface resource?
Maurice Jackson: The location in of itself makes the opportunity quite interesting, but to have open pit to me is icing on the cake. Is the goal to sell the project or develop into a commercial scale mine?
Judson Culter: Definitely the goal is to sell it within the next three years, and so I want to put $10 million in the ground, and let’s get this wrapped up and sold. End of story.
Maurice Jackson: What can you share with us regarding the infrastructure?
Judson Culter: So what you see in Yellowknife right now is what’s going to be coming in the pipeline in the next two to three years in the Pine Point Zinc mine is going back into production and that’s Osisko. Part of that is twining the costs in Taltson Hydro Dam and bringing that into Yellowknife itself, as well as Hay River. There’s going to be federal funding allocated, as well as territorial, to do an environmental study that should be announced through fairly short order this year.
After there is a federally funded environmental study to evaluate the twinning of the Taltson Hydro Dam, a successful outcome will lead into a hydro power upgrade to Yellowknife. When Yellowknife is upgraded, that will free up excess hydro power at the Snare and Strutt Lake hydro dams, located approximately 5km away from Camp Lake, one of our claims that’s part of the Cabin Lake group. That power becomes excess power. All of a sudden that frees up for the future the viability of really selling the project because now you’ve got excess power sitting right there, five kilometers away. How good is that?
Maurice Jackson: Switching gears. Rover Metals’ board of directors and advisors consists of the following people:

Maurice Jackson: Bios for the management time are below:

Maurice Jackson: Let’s discuss some numbers. Please share your capital structure.
Judson Culter: We’ve got 47 million shares out today. That’s our issued and outstanding common shares. There are warrants out there. We have 10 million warrants at $0.20 cents, and 10 million warrants at $0.25 cents.
Maurice Jackson: How much cash and cash equivalents do you have?
Judson Culter: Treasury is sitting today around CA$450,000. Then, there’s been some prepayments for upcoming work commitments regarding our exploration plans for this year, as well as I mentioned, we’re doing a lot of our growth in terms of our marketing and our shareholder base in the United States. I think our prepaid balance, if you were to look at that today, should be around CA$200,000, just in terms of for events, as well as I mentioned, exploration planning. If you add that back to our cash position, we’re around CA$650,000 in current assets.
Maurice Jackson: What is your burn rate?
Judson Culter: Our burn rate’s about CA$30,000 a month, and that just includes all in. We purposely don’t carry an office in this market. We’re a bootstrap company. We have home offices, and then we’re on the road a lot. We’ve got an exploration office that is free from our exploration partner, Aurora Geosciences. That’s really where a lot of the hard work gets done. Then, there’s just no corporate office. I don’t feel the need for that, so that helps.
Maurice Jackson: How much debt do you have?
Judson Culter: We have some trade payables of, I think it’s roughly CA$40,000 that we’re going to settle in shares. Outside of that, we’ve got CA$25,000 in payables on top of that, that we’re going to pay in cash. That’s just some exploration legacy from last year.
Maurice Jackson: Who is financing the project, and what is their level of commitment?
Judson Culter: Just sophisticated mining investors. It’s been high net worth, accredited investors to this point. That will continue until we become a $10 million market cap company plus, because we’re just still not able to access institutional funds, and that’s fine. If Rover does everything that we hope to accomplish in the next drilling phase, which we hope is in the next 60 to 90 day window here, we should be a $10 million market cap plus company; and well on our way to institutional money.
Maurice Jackson: Who are the major shareholders?
Judson Culter: I’m a major shareholder. I’ve been seeding Rover not just with time, but my own money; since really inception in 2014. Tookie Angus, who is an advisor, is currently our third largest shareholder. Then, it really starts to break down to smaller tranches, but there is a notable name on the list: Ashwath Mehra, the chairman of GT Gold; he’s a relatively large shareholder.
Management, including Ron Woo. Ron’s also seeded this company. I think Ron’s probably fourth largest shareholder. Keith Minty’s a large shareholder; 38% of our outstanding shares are owned by insiders, management, board. That’s a good thing because that means our shares are tied up for three years.
Maurice Jackson: Judson, based on the data available, what type of value proposition do we have in comparing?
Judson Culter: Well, the market price, let’s just say, I think it should be $8.5 million, just on what we set out today. That’s my personal opinion. I think later value that, that’s just the reality of reserve stocks in North America. We’re going to do what we need to do to take that historical resource and bring it up to current standards, as well as to just extend where they stopped drilling, and just show them this really is a multimillion ounce potential asset.
I think we can get there with the drill program that we’re planning. We’re planning roughly a thousand meter program. I think the value proposition is we’re in a $3.5 million market cap today. I think we’re going to take it to $10 to 15 million in the next six months. Hold me to that.
Maurice Jackson: I certainly will, sir. Multi-layered question here: what is the next unanswered question for Rover Metals? When can we expect the response? How much will the response cost? What determines success?
Judson Culter: That’s going to be our Q1 or Q2 exploration drill campaign. I was going to caveat that, that is subject to the future success of our financing effort (click here), which we hope to announce in roughly two weeks’ time.
That will lead into confirmation of the historical high-grade gold results, such as the open-pit economics, expand upon the known mineralization in the iron formation, as well as to prove up a larger area play and this is more Q2/Q3 work, for the Slemon Lake, and Camp Lake claims, which are located 10 kilometers northwest from Cabin Lake, and we’ll fly that with an aerial B10 survey. What that will show is that the drilling we’ve done at Cabin Lake in the iron formation really just, those other two claims, or districts, an extension of the same geology, which everything that we’ve read historically shows us it is.
Maurice Jackson: Mr. Culter, please share the contact details for Rover Metals.

Judson Culter: Please visit our website www.RoverMetals.com. On there, you’ll find our social media links, which are LinkedInTwitter, our Facebook page and CEO.ca.
Our social media channels really have daily content. We’re press releasing every couple of weeks, but a lot of our investors like really the daily updates on what’s going on in the Northwest Territory. That’s the best place to stay tuned.
You can also submit to our mailing list. We typically will do an email update every two weeks as well. If you go to the bottom of the homepage on the website, and just submit your email, that subscribes you to our email mailing list.
Maurice Jackson: And last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Judson Culter of Rover Metals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
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Blog

ROVER METALS Announces Private Placement Financing

VANCOUVER , March 4, 2019 /CNW/ – Rover Metals Corp. (ROVR.V) (ROVMF(“Rover Metals” or the “Company“) is pleased to announce its intention to complete a non-brokered private placement of units (the “Units“) at a purchase price of $0.08 per Unit, for aggregate gross proceeds of up to CAD$1,250,000 (the “Offering“). Each Unit shall consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“).  Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $0.15 per share for a period of 24 months following the date of issuance.

Rover Metals anticipates using 80% of the proceeds of the Offering to finance exploration activities at the Cabin Lake Gold Project and remaining use of proceeds for general and administrative expenses.

The Company may pay finder’s fees in accordance with the policies of the TSX Venture Exchange in connection with the Offering.

Rover Metals anticipates relying, in part, on the exemption from the prospectus requirements provided in BC Instrument 45-534 – Exemption From Prospectus Requirement For Certain Trades to Existing Security Holders (the “Existing Shareholder Exemption“).  The Company may also rely on other available prospectus exemptions.

Rover Metals has set March 1, 2019 as the record date for determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. If the Offering is over-subscribed, Units will be allotted on a first come first served basis. Qualifying investors who wish to participate in the Offering should contact the Company using the contact information set forth below. It is anticipated that the Offering will close in one or more tranches commencing on or about March 15, 2019 .

All securities issued under the Offering will be subject to a hold period of four months and a day from the distribution date, in accordance with applicable securities laws.  Completion of the Offering is subject to the receipt of all applicable approvals, including the approval of the TSX Venture Exchange.

About Rover Metals
Rover Metals is a natural resource exploration company specialized in gold that is currently focused on the Northwest Territories of Canada , one of the most mining friendly jurisdictions in North America . The Cabin Lake Group of High Grade Gold Projects are located within 20km of Fortune Minerals’ (FT.TO) planned NICO Project gold processor.

You can follow Rover Metals on its social media channels Twitter: https://twitter.com/rovermetals, LinkedIn: https://www.linkedin.com/company/rover-metals/, Facebook: https://www.facebook.com/RoverMetals/, and CEO.ca: https://ceo.ca/rovr for daily company updates and industry news.

ON BEHALF OF THE BOARD OF DIRECTORS OF ROVER METALS
“Judson Culter”
Chief Executive Officer and Director

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.  Forward-looking statements in this document include statements regarding Rover’s expectations regarding the issuance of Units and receipt of regulatory approval therefor and the use of proceeds from the Offering. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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

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

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Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

West Point Gold Strengthens Management Team with Industry Veteran

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2026) – West Point Gold Corp. (TSX.V: WPG) (OTCQB: WPGCF) (FSE: LRA0) (“West Point Gold” or the “Company”) is pleased to announce the appointment of Mr. Amandip Singh, an industry veteran with meaningful experience, as Vice President Corporate Development, and provides a marketing agreement update.

Mr. Singh is a veteran of the mining industry, whom I have had the privilege of working with indirectly several times over the years. I look forward to working directly with him. We plan to leverage his transactional experience, enthusiasm, hard work, and relationships to help us advance our existing portfolio of projects and improve our overall capital markets presence,” stated Derek Macpherson, CEO of West Point Gold Corp.

About Amandip Singh

Mr. Singh is a geologist and mining professional with over 15 years of experience in the mining industry, finance, and academia. As a finance professional, Mr. Singh was a sell-side mining analyst at a boutique mining-focused brokerage; his coverage ranged from developers to senior producers. He played a key role in Newmont’s US$311 million acquisition of GT Gold and, more recently, helped lead West Red Lake Gold Mines’ transformation, including the acquisition of the Madsen Mine. His background also includes senior roles at Outcrop Silver, Apollo Silver, and Magna Gold. Mr. Singh holds a Bachelor of Science degree from the University of Toronto.

Danayi Marketing Engagement

West Point Gold has engaged Danayi Capital Corp. (“Danayi”), an arm’s-length service provider, to provide the Company with certain investor relations and digital marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Vancouver, British Columbia, Danayi specializes in digital marketing within the mining and metals sector. Under a digital marketing agreement dated March 30, 2026, Danayi will provide communications, marketing, and advisory services to the Company for a three-month term for a one-time fee of US$250,000, plus applicable taxes, payable at the commencement of services. The Company will not issue any securities to Danayi as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, Danayi (including its directors and officers) does not own any securities of the Company. The marketing agreement with Danayi is subject to TSX Venture Exchange approval.

About West Point Gold Corp.

West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.

For further information regarding this press release, please contact:
Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email: info@westpointgold.com

Stay Connected with Us:
LinkedIn: linkedin.com/company/west-point-gold
X (Twitter): @westpointgoldUS
Facebook: facebook.com/Westpointgold/
Website: westpointgold.com/

FORWARD-LOOKING STATEMENTS:

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements in this press release include statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to West Point Gold’s ability to complete any payments or expenditures required under the Company’s various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company’s expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290756

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Questcorp Launch Phase 2 Exploration Program at La Union Project, Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2026) –  Riverside Resources Inc.  (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (“Riverside” or the “Company“), is pleased to announce the commencement of the Phase 2 exploration program at La Union Project in Sonora, Mexico. The program builds on the success of the 12-hole Phase 1 drill program announced January 22, 2026, which delivered a new sediment-hosted gold discovery at Luis Hill returning 42m grading 0.3 g/t gold. Funded by Questcorp, Phase 2 has mobilized teams to the field across four main target areas, where work will include geological mapping, geochemistry, geophysics, and a property-wide structural analysis.

“We are pleased to have a fully funded exploration program and have immediately activated our team in the field,” said John-Mark Staude, President and CEO, Riverside Resources Inc. “I have just returned from Sonora, where the Phase 2 program is progressing well, with the Riverside team conducting safe, high-quality work encompassing sampling, mapping, geological targeting, and geochemistry with the aeromagnetic geophysics expansion launching shortly. Building directly on our Phase 1 results, including the high-grade channel sampling at Union Mine and the new sediment-hosted gold discovery at Luis Hill, we have multiple well-defined targets to advance. Riverside is pleased to continue working with partner Questcorp, and as a shareholder in Questcorp, our interests in the success of the Union Project are well aligned.”

Planned exploration for this program includes:

  • Follow-up work on sediment-hosted gold (“SHGD”) targets identified during Phase 1 drilling, where gold was intersected in sedimentary rocks below the primary Carbonate Replacement Deposit (“CRD”) host units, consistent with districts known to host both CRD and SHGD deposit styles.
  • Underground follow-up sampling at the Union Mine, where the previously announced chip-channel interval on January 22, 2026, remains open on both ends and warrants further investigation.
  • CRD targeting at the Famosa North area, where lead and zinc anomalies have never been drill-tested; field studies in this area will support upcoming drill targeting. The Famosa mineral concessions were recently consolidated into Riverside’s land package, as announced on March 18, 2026.
  • Structural geology work in the northern portion of the property, where consulting structural experts are working alongside Riverside’s local field staff to refine drill targeting.
  • Follow up on sediment-hosted gold targets in the eastern portion of the Union Project district.
  • Follow-up exploration at Luis Hill, where Phase 1 drill hole UND25-9 returned 42m grading 0.3 g/t gold in sediment-hosted rocks representing a new style of Carlin-like gold mineralization for this part of Sonora. Phase 2 field work will expand upon this discovery to define additional drill targets.

Running concurrently with the field work described above is an expanded aeromagnetic drone survey that builds upon the Phase 1 geophysical dataset. The expanded survey will extend coverage in all directions of the mineral property, generating data that will support Phase 2 drill targeting in advance of a drilling program planned for early summer 2026.

Figure 1: Location of some of the targets at the Union project to be evaluated during the Phase 2 exploration program and locations of the initial Phase 1 drill holes which now can be further expanded during the Phase 2 program as well.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/290784_0141ee122467b832_002full.jpg

As announced on March 18, 2026, the Famosa area mineral concessions have been formally transferred and consolidated into Riverside’s land package. This strengthens the foundation for the Phase 2 work program, as the geology and mineralization trends within the Famosa area extend northward and eastward into the primary Phase 2 exploration focus zones.

The Union Project hosts multiple district-scale target areas, and the Phase 2 program is designed to systematically advance the most promising of these toward drill testing. The program will evaluate three distinct styles of mineralization identified during Phase 1: carbonate replacement deposit (CRD) mineralization, sediment-hosted gold in calcareous siltstones and carbonaceous sediments comparable to Nevada’s Carlin-style deposits, and structurally controlled gold mineralization within quartzite units. With permits in hand, site access secured, and both a drill contractor and geophysical service provider selected, all logistics are advancing toward a summer 2026 drilling program.

About the Union Project

The Union Project is a district-scale carbonate replacement deposit (CRD) exploration project located in Sonora, Mexico. The project hosts historical mining areas and multiple exploration targets associated with gold, silver, zinc, and lead mineralization within carbonate and structurally controlled settings. Riverside operates the project through its Mexican subsidiary while advancing exploration in partnership with Questcorp.

Qualified Person

The technical content of the news release has been reviewed and approved by Freeman Smith, P.Geo. (British Columbia), a qualified person under National Instrument 43-101 who is non-independent and the Vice President Exploration for the Company.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a strong balance sheet with over C$5,000,000 cash, no debt and tight share structure with a strong portfolio of gold-silver, copper, and REE assets and royalties in North America. Further information about Riverside is available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290784

Categories
Base Metals Energy Junior Mining Precious Metals

Apollo Reports Results of Annual General Meeting and Appointment of New Executive Chair and Lead Director

VANCOUVER, British Columbia, March 30, 2026 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF) is pleased to announce the voting results from its Annual General Meeting (“AGM”) of shareholders held on March 27, 2026. All matters submitted to shareholders for approval, as set out in the Company’s management information circular, were approved by a majority of the votes cast, including: setting the number of directors at seven; electing all seven directors standing for election; re-appointing Davidson and Company LLP as auditors of the Company; and re-approving the Company’s Omnibus Incentive Plan.

Detailed results of the total shares voted at the AGM are set out below.

NomineesTotal
Votes Cast
Total
Votes For
Total Votes
Withheld
%
For
%
Withheld
Andrew Bowering15,225,26415,040,924184,34098.791.21
Steven Thomas15,225,26415,212,92412,34099.920.08
Jocelyn Thompson15,225,26415,211,92413,34099.910.09
Ross McElroy15,225,26415,006,959218,30598.571.43
Alexander Tsakumis15,225,26415,192,42432,84099.780.22
Jacqueline Przybylowski15,225,26415,211,92413,34099.910.09
Thomas Peregoodoff15,225,26415,156,45968,80599.550.45
 
 Total
Votes Cast
Total
Votes For
Total Votes
Withheld
%
For
%
Withheld
Appointment of Auditors15,225,26415,214,31410,95099.930.07
 
 Total
Votes Cast
Total
Votes For
Total Votes
Against
%
For
%
Against
Omnibus Incentive Plan15,225,26415,193,91531,34999.790.21
      

In addition, Apollo is pleased to announce the appointment of Mr. Peregoodoff as Executive Chair of the Board and Mr. Thomas as Lead Independent Director, each effective immediately.

Mr. Peregoodoff brings extensive experience to the role, having previously served in senior leadership positions at Apollo, where he played a key role in shaping the Company’s strategic direction and advancing its growth initiatives. His deep understanding of Apollo’s operations, combined with his strong capital markets experience, positions him well to support the Company through its next phase of development.

Mr. Peregoodoff also previously worked alongside Apollo’s President and CEO, Ross McElroy, at BHP. This shared history and alignment are expected to further strengthen Apollo’s leadership as the Company continues to execute on its strategy.

Ross McElroy, President and CEO of Apollo, commented: “We are very pleased to welcome Mr. Peregoodoff as Executive Chair of the Board and Mr. Thomas as the Lead Independent Director. Having worked closely with Tom at BHP, I have seen firsthand his leadership, strategic thinking, and operational skills. His prior involvement with Apollo, combined with his deep understanding of our business, make him ideally suited to support management as we continue to advance our projects and deliver for our shareholders.”

The Company also notes that Andrew Bowering will continue to play an active role, serving as a Director, key advisor, and spokesperson for Apollo. As a significant shareholder, Mr. Bowering remains fully committed to working closely with the management team and the Board in guiding the Company’s strategy and driving long-term value creation for all shareholders.

Andrew Bowering, commented: “As the founder and one of the larger shareholders of Apollo, I am thrilled to see Tom take on this key role and I am excited to support the strong operational pairing of Tom and Ross going forward. In my opinion, the Company just got stronger.”

ABOUT APOLLO SILVER CORP.
Apollo is advancing the second largest undeveloped primary silver project in the U.S. The Calico Project hosts a large, bulk minable silver deposit with significant barite and zinc credits – recognized as critical minerals essential to the U.S. energy, industrial and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements regarding: the Company’s plans and objectives; the expected contributions of members of the Board of Directors and management; and the Company’s strategy and future growth initiatives. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and barite; the demand for silver, gold and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Categories
Base Metals Energy Junior Mining Oil & Gas Precious Metals

Why Gold Has Fallen: A Liquidity Story, Not a Broken Thesis

Key Takeaways

  • Liquidity Crunch, Not a Broken Thesis: Gold was sold as a source of liquidity during forced deleveraging, not because its underlying fundamentals had weakened.
  • Iran Shock Disrupted Reserve Flows: The conflict in Iran and the closure of the Strait of Hormuz (through which ~20% of global oil flows) halted energy revenues and stalled sovereign gold buying, removing a key pillar of demand.
  • A Familiar Stress Pattern: Like 2008 and 2020, gold is reacting to liquidity pressure, not failing as a hedge.
  • Setup for Gold’s Next Bull Phase: Structural pressures are building toward renewed monetary support—historically a powerful catalyst for gold.

Gold’s Dramatic Sell-Off

Since reaching an all-time high of $5,589.38 per ounce on January 28, 2026, gold has been a volatile ride. The major sell-off over the last three weeks in March has left gold in the $4,400 range. This dramatic pullback has surprised many investors. The decline has occurred against a backdrop that, under traditional frameworks, should have been supportive: elevated geopolitical risk, a major energy shock, rising volatility across asset classes and growing concerns about global growth. Yet gold has fallen sharply.

Gold is being sold in a liquidity-driven deleveraging.

We believe the move reflects a broad liquidity-driven selling event, driven by macro reserve-flow dynamics and forced deleveraging across investment portfolios. In short, gold is being sold because liquidity is being raised, not because its role as a strategic asset has diminished.

Figure 1. Gold Chart Highlighting Support Zone and 200-Day Moving Average
Figure 1. Gold Chart Highlighting Support Zone and 200-Day Moving Average

Source: Bloomberg. Data as of 3/24/2026. The spot gold price is measured by XAU Curncy. The 200‑day moving average is a technical indicator that represents the average closing price of an asset over the past 200 trading days. It is commonly used to assess an asset’s long‑term trend.

Gold Is Now Anchored to Reserve Flows

Since 2022, gold’s primary price anchor has shifted. Historically, Western investment flows dominated price action, with gold trading mostly as a function of market-related factors such as real rates, the dollar and risk sentiment. That regime has changed considerably. 

The freezing of Russia’s foreign exchange reserves in 2022 fundamentally altered global reserve behavior. Excess reserves that once flowed primarily into U.S. Treasuries increasingly moved into gold. As a result, gold has become more tightly linked to reserve accumulation by central banks, sovereigns and sovereign wealth funds than to traditional portfolio flows.

This matters because reserve accumulation is inherently cyclical. It depends on trade surpluses, export revenues, and, critically in the current environment, commodity income. When those flows slow or reverse, gold demand at the margin weakens.

Hormuz Energy Shock Hit Gold Through Reserves

The closure of the Strait of Hormuz—stemming from the conflict involving Iran, the U.S. and Israel—has had a direct, underappreciated impact on gold through reserve flows.

The Hormuz oil shock hit energy markets and quietly drained the reserve flows that had been supporting gold.

Gulf Cooperation Council (GCC) countries are among the world’s largest accumulators of reserves, funded overwhelmingly by oil exports. With energy flows disrupted, reserve accumulation has stalled. In some cases, reserves are being drawn down to meet fiscal obligations. Importantly, prices are set at the margin: gold does not require outright selling to fall; the loss of incremental buying pressure is sufficient. In other words, a buyer cohort that had been buying gold at scale has abruptly stepped away. When marginal demand falls from very strong to nonexistent, prices adjust sharply even in the absence of any forced selling.

The spillover effects extend beyond the Gulf. The energy shock is primarily affecting Asia, where about 80% of Persian Gulf energy flows. Higher oil prices represent a negative terms of trade shock for energy importers, reducing surplus reserves and, in turn, incremental gold demand. Together, these reserve flow dynamics have removed a key pillar of near-term support for gold prices. 

China is the world’s largest importer of oil, but is also the world’s largest gold buyer. While there is a risk that China could slow its gold purchases due to reduced surplus reserves, the evidence suggests the opposite. In Figure 2, the left chart shows China’s gold ETF holdings, which have just spiked into the gold price downturn (we use China’s gold ETF holdings as a proxy for the broader China gold trend). The right chart plots the Shanghai gold premium, which is +4.4% above the London spot quote. The 4.4% premium is about 3 standard deviations above the 10-year average, indicating an aggressive bid for gold. 

Figure 2. China Has Been Buying into the Gold Sell-Off

Two graphs: left shows China Gold ETFs in millions of ounces from 2024 to 2027; right displays Shanghai Gold Premium percentage over the same period.

Source: Bloomberg. Data as of March 20, 2026.

Gold’s Move Amplified by Investment Side Selling 

While reserve flows explain the macro backdrop, they do not fully account for the speed and magnitude of the decline. That acceleration came from the investment side.

Gold wasn’t sold on conviction; it became a source of cash.

The dominant driver here has been degrossing and deleveraging. Rising volatility across rates, foreign exchanges (FX), equities, and commodities triggered mechanical risk reduction across hedge funds, systematic strategies, commodity trading advisors (CTAs), and leveraged portfolios. In these environments, selling is rarely gradual. Positions are cut quickly, correlations rise and liquidity is raised as the primary objective.

Gold was a very popular holding and was widely held by funds. As portfolios were forced to shrink gross and net exposure, gold was sold alongside equities, credit, and other non-energy assets, not because investors suddenly became bearish on gold, but because it was a source of liquidity.

Additional factors reinforced the move:

  • The rapid unwind of short USD and de-dollarization trades also contributed to selling across precious metals.
  • Some systematic strategies responded to rising rates and a stronger dollar by mechanically reducing gold exposure.
  • Capital rotated aggressively into the energy complex, drawing flows away from metals.
  • Options-related positioning and volatility dynamics exacerbated short-term price moves.

Taken together, these forces created a classic liquidity-driven deleveraging, the same dynamic observed in prior stress episodes.

We’ve Been Here Before

History offers clear parallels. In both 2008 and 2020, gold initially sold off sharply during periods of acute financial stress. In each case, gold was sold not because it failed as a hedge but because it was one of the last remaining sources of liquidity. Once forced selling ran its course and policy responses followed, gold rallied strongly to all-time highs within months of market lows.

Today’s environment shares key features with those episodes: rising cross-asset volatility, tightening financial conditions and growing pressure on the global monetary system. The current drawdown fits that historical pattern.

Gold’s Longer-Term Setup Is Strengthening

Paradoxically, the same forces pressuring gold in the short term are improving its long-term outlook.

The global system is moving deeper into a regime defined by energy scarcity, fiscal strain and elevated inflation risk. Debt levels are high, deficits are widening and central banks face increasingly constrained policy choices. If the energy shock persists and growth deteriorates, the probability of renewed large-scale liquidity support (QE or quantitative easing) rises materially.

At that point, the debate shifts from theoretical to actual debasement. Historically, that transition has been powerful for gold.

The forces weighing on gold today are likely to drive its next bull run.

Moreover, the structural trends that underpin gold’s secular bull market remain intact: the erosion of the dollar-centric reserve system, the fragility of the petrodollar framework, and the remonetization of gold as a neutral reserve asset. None of these dynamics has reversed; if anything, they have accelerated.

Silver’s Volatility Is Being Driven by Derivatives

Silver, meanwhile, has behaved differently, with greater volatility. The price of silver set a record high above $121 per ounce in February 2026, and now sits at ~$65 as of this writing. While macro flows largely drove gold’s moves, silver’s price action has been heavily influenced by options positioning and market structure. In simple terms, derivatives activity, not underlying fundamentals, has been the dominant driver of short-term price movements. This has led to wider trading ranges and reduced visibility for directional investors. 

Figure 3. Silver’s Volatile Trading (2025-2026)

Figure 3. Silver’s Volatile Trading (2025-2026)

Source: Bloomberg. Data as of 3/24/2026. The spot silver price is measured by XAU Curncy.

The Bottom Line? 

Gold’s decline was triggered by liquidity-driven deleveraging, not by a change in fundamentals.
Rising cross-asset volatility forced investors to raise cash and reduce exposure, prompting the sale of gold as a liquid source of capital.
 

A sudden halt in reserve flow demand removed a critical price-support mechanism.
Central banks, sovereigns, and sovereign wealth funds, particularly in the Gulf Cooperation Council (GCC), shifted from aggressive accumulation to zero incremental buying as energy revenues stalled, mechanically pressuring prices at the margin.

The sell-off is setting up, not negating, the next bull phase.
Energy scarcity, fiscal strain, and constrained central banks increase the likelihood of future liquidity support and monetary debasement, conditions that have historically preceded major gold up moves.

Investment Risks and Important Disclosure

Relative to other sectors, precious metals and natural resources investments have higher headline risk and are more sensitive to changes in economic data, political or regulatory events, and underlying commodity price fluctuations. Risks related to extraction, storage and liquidity should also be considered.

Gold and precious metals are referred to with terms of art like “store of value,” “safe haven” and “safe asset.” These terms should not be construed to guarantee any form of investment safety. While “safe” assets like gold, Treasuries, money market funds and cash generally do not carry a high risk of loss relative to other asset classes, any asset may lose value, which may involve the complete loss of invested principal.

Past performance is no guarantee of future results. You cannot invest directly in an index. Investments, commentary and opinions are unique and may not be reflective of any other Sprott entity or affiliate. Forward-looking language should not be construed as predictive. While third-party sources are believed to be reliable, Sprott makes no guarantee as to their accuracy or timeliness. This information does not constitute an offer or solicitation and may not be relied upon or considered to be the rendering of tax, legal, accounting or professional advice. 

Categories
Base Metals Energy Junior Mining Oil & Gas Precious Metals Project Generators

Elemental Royalty Announces Record 128% Increase in Revenue, Exceeding Guidance for 2025, and Announces 2026 Guidance

Denver, Colorado–(Newsfile Corp. – March 24, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or the “Company“) is pleased to report results for the year ended December 31, 2025. For the year, Elemental delivered revenue of US$43.6 million, revenue plus attributable share of Caserones1 of US$49.2 million, and adjusted EBITDA1 of US$34.9 million.

2025 Financial Highlights

  • Record full year revenue plus attributable share of Caserones1 of US$49.2 million, up 128% over prior year, exceeding 2025 updated guidance of US$42 million;
  • Gold Equivalent Ounces (“GEOs”) of 14,285 for 2025 (8,987 in 2024), driven by contributions from Karlawinda, Bonikro, Korali Sud, and Caserones, and the completion of the merger with EMX Royalty Corporation;
  • Adjusted EBITDA1 of US$34.9 million, up 131% over prior year, demonstrating strong cash flow conversion;
  • Adjusted operating cash flow1 of US$33.9 million, up 288% over prior year; and
  • Cash and cash equivalents as of December 31, 2025 of US$53.1 million and a working capital1 of US$80.1 million, demonstrating financial flexibility for growth.

Q4 2025 Financial Highlights

  • Record Q4 revenue of US$16.0 million and record revenue plus attributable share of Caserones1 of US$17.2 million, up 153% on Q4 2024
  • Q4 attributable GEOs1 of 4,133 ounces (2,551 GEOs in Q4 2024)
  • US$52 million acquisition of uncapped 2% GRR on the Laverton Gold Project and an uncapped 2% GRR on Jasper Hills in Western Australia
  • Completion of merger with EMX Royalty Corporation

2026 Outlook and Guidance

  • Revenue guidance for 2026 US$76.5 to US$94.5 million based on a gold price of US$4,500/oz and a copper price of US$5.50/lb
  • GEO guidance for 2026 of 17,000 to 21,000 GEOs

David M. Cole, Elemental Chief Executive Officer, commented: “2025 was a landmark year for Elemental, underscored by our merger with EMX Royalty Corporation, which significantly expanded our revenue base and strengthened our platform for long-term growth. The combination creates a more broadly diversified royalty portfolio across commodities, jurisdictions, and development stages, enhancing resilience and scale, with key cash-flowing assets such as Caserones, Timok, Karlawinda, and Leeville. This broader portfolio provides greater optionality through exposure to an expanded pipeline of organic growth opportunities and future project advancements, including the Laverton Gold Project, which we expect to become a cornerstone asset. As we enter 2026, we are well positioned to benefit from the merger’s synergies and deliver continued value creation for shareholders.”

Investor Webinar

An investor webinar will be held on Wednesday March 25, 2026, starting at 11am Eastern Time, to discuss these results, followed by a question-and-answer session.

To register for the investor webcast, please click the link below:

https://app.webinar.net/XxJnNlbkAGY

A replay of the event will be available on the Elemental website following the presentation.

Financial Summary for the Three Months and Year Ended December 31, 2025:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Statement of Income 
Revenue$16,047$5,519 $43,643$16,323
General and administrative expense$9,842$2,149 $16,467$7,396
Royalty generation expense, net$1,058$ $1,058$
Net income (loss) from continuing operations$(3,209)$132 $1,772$(312)
     
Statement of Cash Flows     
Cash flows from operating activities$11,203$2,555 $30,811$4,816
     
Non-IFRS Financial Measures1     
Revenue plus attributable share of Caserones$17,226$6,827 $49,200$21,600
Adjusted cash flows from operating activities$11,203$3,315 $33,937$8,738
Adjusted EBITDA$8,456$4,769 $34,901$15,111
GEOs sold4,1332,551 14,2858,987

Key Strategic Developments

2025 was a transformative year for Elemental, defined by strategic initiatives that strengthened the Company’s scale, diversification, and long-term growth profile. Key developments during the year included:

  • Completion of the merger with EMX, creating a larger, combined royalty company with a materially expanded revenue base and enhanced capital markets presence.
  • Secured a strategic investment from Tether Investments S.A. de C.V (“Tether”), strengthening the share register, enhancing financial flexibility, and supporting the Company’s growth initiatives.
  • Acquired the uncapped 2% GRR royalty over the Laverton Gold Project in Western Australia for US$52 million, which is expected to become a cornerstone asset within the portfolio given its scale, development trajectory, and long-term upside.
  • Benefited from continued advancement and optimization across producing assets within the portfolio, supporting stable cash flow generation and near-term growth visibility.
  • Announced after year end, the Company advanced its capital allocation framework and financial capacity through the introduction of an inaugural annual dividend of US$0.12 per share (paid quarterly) and the establishment of a US$150 million revolving credit facility and US$50 million accordion feature, enhancing balance sheet flexibility to support future growth initiatives while delivering sustainable returns to shareholders.

2025 Performance to Guidance:

Please see our MD&A for the year ended December 31, 2025 for more details on our guidance and see “Forward-Looking Statements” and “Future-Oriented Financial Information” below.

The following is an evaluation of the Company’s performance compared to our 2025 Guidance:

2025 GuidanceA2025 Updated GuidanceB2025 Results
GEO Sales11,600 to 13,20011,600 to 13,20014,285
Revenue plus attributable share of Caserones1US$31.1 to US$34.3 millionUS$42.0 millionUS$49.2 million
Assumed commodity prices of US$2,600/oz gold and US$4.00/lb copper.
Assumed commodity price of US$4,000/oz gold and US$4.00/lb copper.

Excluding revenue attributable to assets acquired through the merger with EMX, Elemental’s assets recognized 12,459 GEO Sales1, placing results in the top half of the updated guidance range. Assets acquired through the EMX merger contributed an additional 1,826 GEOs following the date of the closing of the transaction, November 13, 2025. Had the merger taken place on January 1, 2025, the Company would have generated US$72.2 million in revenue and US$87.5 million in revenue plus attributable share of Caserones1, aligning with consensus combined revenue guidance of US$85 million.

2026 Guidance

In 2026, we expect royalty revenue of 17,000 to 21,000 GEOs. 2026 guidance is based on public forecasts and disclosures by the owners and operators of our assets, historical performance, and management’s understanding of the underlying producing assets.

 2026 GuidanceA 
 GEO Sales117,000 to 21,000 
 RevenueUS$76.5 to US$94.5 million 
 A Assumed commodity price of US$4,500/oz gold and US$5.50/lb copper. 

The noted increase in expected GEOs compared to 2025 is mainly due to the contribution of assets acquired through the merger with EMX in Q4 2025, offset by a decrease in production at Korali Sud.

The Company has assumed a commodity price of US$4,500/oz gold and US$5.50/lb copper. The increase in gold prices has outpaced the rise in copper prices, resulting in a negative impact on GEOs due to Elemental’s exposure to copper-linked assets, specifically Caserones and Timok.

Following an amendment to the SLM California shareholder agreement effective November 13, 2025, the Company reassessed its interest in SLM California, which holds the Caserones royalty. The revised arrangement was determined to constitute a joint operation under IFRS 11, resulting in the discontinuation of equity accounting under IAS 28 and the recognition of the Company’s proportionate share of assets, liabilities, revenues, and expenses. As a result, the contribution from Caserones in 2026 will be fully categorized as revenue and will no longer require an adjustment to revenue in future periods.

Portfolio Growth

Elemental continues to advance a disciplined growth strategy focused on building a globally diversified portfolio of high-quality royalty and streaming interests, with a core emphasis on gold and precious metals. The Company’s portfolio provides exposure to a range of assets throughout the development and production pipeline, including cornerstone interests such as Karlawinda, Laverton, and Leeville. This gold-focussed approach is complemented with selective exposure to large-scale base metals assets such as Caserones and Timok, with diversification across commodities, jurisdictions, and operators supporting stable cash flow generation, while preserving meaningful upside to exploration success and mine life extensions.

Near to medium-term portfolio growth is expected to be supported by continued development, optimization, and exploration activities at several key assets. At Timok, ongoing advancement of both the Upper and Lower Zone projects provides exposure to a world-class copper-gold system with significant scale potential. In addition, recent exploration success in the broader Timok district, including the Malka Golaja discovery, highlights the prospectivity of the regional land package and reinforces the long-term optionality of Elemental’s royalty interest. While the ultimate impact of such discoveries remains subject to further delineation and development by the operator, management views these results as encouraging indicators of the district’s geological potential.

Elemental’s exposure to precious metals growth is anchored by assets such as Karlawinda, a long-life gold operation in Western Australia. Ongoing mining activities and regional exploration at Karlawinda offer the potential to support stable production and incremental upside over time. The recently acquired Laverton royalty further enhances the Company’s exposure to a highly prospective gold district in Western Australia, in addition to the acquisition of the Dugbe royalty in Liberia, both of which support the near to medium-term pipeline of exploration-driven optionality and reinforce Elemental’s strategy of acquiring royalties over large land packages in established mining camps with Tier-one operators.

In addition to its core precious metals weighting, Elemental benefits from exposure to established and operating base metal assets such as Caserones, a large-scale copper mine where continued operational optimization and exploration efforts may contribute to sustained production and potential mine life extension. These base metal assets complement the gold-focussed portfolio, providing diversification and leverage to copper demand, which is increasingly supported by structural trends related to electrification, infrastructure investment, and the global energy transition.

Elemental remains well positioned to pursue additional accretive royalty and streaming opportunities across its targeted commodities. Management continues to evaluate a robust pipeline of potential transactions, reflecting sustained interest from mining companies seeking non-dilutive sources of capital. The Company’s strong balance sheet, recently amended US$150 million revolving credit facility, with a US$50 million accordion, and scalable business model provide enhanced financial flexibility to support disciplined capital deployment. The Company also benefits from supportive long-term shareholders, including Tether, whose investment reflects confidence in Elemental’s strategy and growth outlook.

Management believes Elemental’s gold-focussed, diversified asset base, strengthened liquidity position, and aligned shareholder support provide a solid foundation for long-term value creation.

Fourth Quarter and Full Year 2025 Performance by Asset

The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the fourth quarter of 2025 and 2024:

GEOs Sold Revenue (in thousands of US dollars)
20252024 20252024
 
Ballarat179151 $745$403
Bonikro692900 2,8862,407
Caserones2879 3,665
Gediktepe387 1,613
Karlawinda648556 2,6991,490
Korali-Sud74 307
Leeville286 1,192
Timok261 1,086
Wahgnion284 764
Other producing royalties337172 1,403455
Advanced royalty payments40 167
Total royalty revenue3,7822,063 $15,763$5,519
     
Option, property and other revenue68 284
Caserones (before reclassification)2283488 1,1791,308
Revenue plus attributable share of Caserones14,1332,551 $17,226$6,827

The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the year ended December 31, 2025 and 2024:

GEOs Sold Revenue (in thousands of US dollars)
20252024 20252024
 
Ballarat709323 $2,454$807
Bonikro3,1742,208 10,8865,430
Caserones2387 3,665
Gediktepe387 1,613
Karlawinda2,5632,171 8,8575,199
Korali-Sud3,446 10,515
Leeville286 1,192
Timok261 1,086
Wahgnion1,126 2,692
Other producing royalties812789 2,9241,865
Advanced royalty payments40 167
Total royalty revenue12,5566,617 $43,359$15,993
     
Option, property and other income68140 284330
Caserones (before reclassification)21,6612,230 5,5575,277
Revenue plus attributable share of Caserones14,2858,987 $49,200$21,600

Qualified Person

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure.

About Elemental Royalty Corporation.

Elemental is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 16 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.

Elemental trades on the Nasdaq and the TSX Venture Exchange under the ticker “ELE”.

For further information contact:
   
 David M. Coleinfo@elementalroyalty.com
 CEO
 
 Tara Vivian-Neal,investor@elementalroyalty.com
 Investor Relations
   
www.elementalroyalty.com
Phone: +1 (604) 688-6390
 
TSX.V: ELE | NASDAQ: ELE | ISIN: CA28620K1066 | CUSIP: 28620K

Cautionary note regarding forward-looking statements

This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology.

Forward-looking statements and information include, but are not limited to, statements with respect to the Company’s annual revenue and GEO guidance for 2026, future development and upside of the Laverton royalty, and the Company’s ability to support the future growth, and provide stable and sustainable returns. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V), or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.

Notes

Royalty revenue received carries no direct cash cost of sales: distributions from associates related to Elemental’s effective royalty on Caserones were received net of Chilean taxes and have no other costs.

  1. Refer to the “Non-IFRS financial measures” section below or on page 29 of the Q4 2025 MD&A for more information on each non-IFRS financial measure. These non-IFRS measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements to which the measures relates and might not be comparable to similar financial measures disclosed by other issuers.
  2. Effective November 13, 2025, the Company discontinued accounting for SLM California as an investment in associate and began recognizing its share of revenue from the Caserones royalty directly, rather than as a share of profit from associate.

Non-IFRS Financial Measures

The Company has included performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The non-IFRS measures do not have any standard meaning under IFRS Accounting Standards and other companies may calculate measures differently.

Caserones Reclassification

Effective November 13, 2025, the shareholders of SLM California executed an amendment to the entity’s shareholder agreement, resulting in the Company reassessing the classification of its interest in SLM California, which holds the Company’s Caserones royalty. As a result of the amendment to the shareholder agreement, the Company determined that the revised arrangement constituted a joint operation in accordance with IFRS 11 Joint Arrangements. Consequently, on November 13, 2025, the Company discontinued equity accounting under IAS 28 Investments in Associates and Joint Ventures and began recognizing its proportionate share of the assets, liabilities, revenues, and expenses of SLM California as a joint operation.

Reconciliation of Adjusted EBITDA:

The following is the reconciliation of adjusted EBITDA:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Net income (loss) for the year of continuing operations$(3,209)$132 $1,772$(312)
Project evaluation and transaction related expenses2,55591 3,623641
Interest Income(387)(65) (731)(198)
Interest and finance expenses140387 4782,028
Tax expense plus attributable share of Caserones2,160631 6,0082,746
Depletion plus attributable share of Caserones5,1322,775 17,7918,750
Depreciation23 23
Losses (gains) on revaluation of financial instruments(789)14 (769)5
Share-based compensation445368 2,4361,388
Losses (gains) on disposals369 2,253(373)
Impairment charges2,017436 2,017436
Adjusted EBITDA$8,456$4,769 $34,901$15,111

The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently.

Reconciliation of Revenue, Depletion and Tax expense plus Attributable Share of Caserones:

Revenue plus attributable share of Caserones is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental’s effective royalty on the Caserones copper mine. Management uses revenue plus attributable share of Caserones to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as revenue, investors may use revenue plus attributable share of Caserones to evaluate the results of the underlying business, particularly as the revenue plus attributable share of Caserones may not typically be included in operating results. Management believes that revenue plus attributable share of Caserones is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company’s core operating results from period to period. Revenue plus attributable share of Caserones is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers.

Depletion plus attributable share of Caserones and tax expense plus attributable share of Caserones are non-IFRS measures which include depletion and tax expense from the Caserones royalty asset respectively, consistent with the recognition of revenue plus attributable share of Caserones as described above.

The following is the reconciliation of revenue plus attributable share of Caserones:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Revenue$16,047$5,519 $43,643$16,323
The Company’s share of royalty revenue from Caserones$1,179$1,308 $5,557$5,277
Revenue plus attributable share of Caserones$17,226$6,827 $49,200$21,600

The following is the reconciliation of depletion plus attributable share of Caserones:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Depletion of royalties$(4,882)$(2,392) $(16,334)$(7,218)
Depletion of Caserones$(250)$(383) $(1,457)$(1,532)
Depletion plus attributable share of Caserones$(5,132)$(2,775) $(17,791)$(8,750)

The following is the reconciliation of tax expense plus attributable share of Caserones:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Tax expense$(1,842)$(304) $(4,508)$(1,321)
Tax expense related to Caserones$(318)$(327) $(1,500)$(1,425)
Tax expense plus attributable share of Caserones$(2,160)$(631) $(6,008)$(2,746)

Reconciliation of Adjusted Cash Flows from Operating Activities:

Adjusted cash flows from operating activities is a non-IFRS measure which includes dividends from the Caserones royalty asset.

The following is the reconciliation of adjusted cash flows from operating activities:

For the three months ended
December 31,
 For the year ended
December 31,
(In thousands of US dollars)20252024 20252024
 
Cash provided by operating activities$11,203$2,555 $30,811$4,816
Caserones royalty distributions760 3,1263,922
Adjusted cash flows from operating activities$11,203$3,315 $33,937$8,738

Reconciliation of Gold Equivalent Ounces Sold

Elemental’s revenue plus attributable share of Caserones is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS

Accounting Standards. Other companies may calculate these non-IFRS measures differently. The production forecast was derived using information that is available in the public domain as at the date hereof, which included guidance and estimates prepared and issued by management of the operators of the mining operations in which Elemental holds an interest. The production forecast is sensitive to the performance and operating status of the underlying mines. None of the information has been independently verified by Elemental and may be subject to uncertainty. There can be no assurance that such information is complete or accurate.

The following is the reconciliation of gold equivalent ounces sold:

For the three months ended
December 31,
 For the year ended
December 31,
(Revenue and gold price In US dollars)20252024 20252024
 
Revenue plus attributable share of Caserones (in $000s)$17,226$6,827 $49,200$21,600
Average gold price$4,168$2,676 $3,444$2,403
Total GEOs4,1332,551 14,2858,987

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289666

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Elemental Royalty to Release Q4 and Full Year 2025 Results on Tuesday, March 24, 2026

Denver, Colorado–(Newsfile Corp. – March 18, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or “the Company“) will release its Q4 and Full Year 2025 results after market close on Tuesday March 24, 2026.

An investor webinar will be held on Wednesday March 25, 2026, starting at 9am Mountain Time, 11am Eastern Time, to discuss these results, followed by a question-and-answer session.

To register for the investor webcast, please click the link below:
https://app.webinar.net/XxJnNlbkAGY

A replay of the event will be available on the Elemental website following the presentation.

For further information contact:
David M. Cole
CEO and Director

For more information, please contact:

David M. Cole
CEO
info@elementalroyalty.com

Tara Vivian-Neal
Investor Relations
investor@elementalroyalty.com

www.elementalroyalty.com
Phone: +1 (604) 688-6390

(TSXV: ELE) (NASDAQ: ELE) ISIN: CA28620K1066 CUSIP: 28620K

About Elemental Royalty Corporation.
Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.

Elemental Royalty trades on the TSX Venture Exchange and on NASDAQ under the ticker symbol “ELE”.

Cautionary note regarding forward-looking statements and financial outlook
This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable United States and Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology (including negative and grammatical variations thereof).

Forward-looking statements and information include, but are not limited to, statements regarding future royalties and future consideration payments or issuances of shares, or other statements that are not statements of fact. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2024. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represent management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V) or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289036

Categories
Base Metals Energy Junior Mining Precious Metals

Apollo Silver Initiates Preliminary Economic Assessment for the Calico Project

Vancouver, British Columbia, March 18, 2026 – Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF) is pleased to announce that it has engaged SLR Consulting (Canada) Ltd. (“SLR”), a globally recognized engineering and environmental consulting firm, to lead a Preliminary Economic Assessment (“PEA”) on the Company’s Calico Silver Project (“Calico” or the “Project”), located in San Bernardino County, California. The Project hosts one of the largest undeveloped primary silver deposits in the United States.

In parallel with the PEA, Apollo Silver will advance metallurgical and geotechnical programs designed to further refine the Company’s technical understanding of the Project as it progresses forward on the development path. The Company has engaged SLR as advisors to assist in managing the geotechnical and metallurgical investigations required to support the mine development plan.

Highlights

  • PEA Initiated: SLR engaged to conduct a PEA at Calico.
  • Additional Technical Support: SLR will also provide on-going metallurgical and geotechnical advisory support for additional development engineering analysis at Calico as the Company continues to advance the Project.
  • Exploration Work: Precision GeoSurveys US Inc. (“Precision”) has recently completed a high-resolution airborne magnetic and radiometric survey covering ~632-line km, designed to support geological interpretation, future exploration, and drill targeting.

Ross McElroy, President and CEO of Apollo Silver, commented, “The initiation of the PEA marks an important milestone in advancing the Calico Project on the development path. This study will evaluate potential mining and processing scenarios for the significant mineral resources identified at the Project. Engaging SLR to lead the PEA, while also supporting our on-going metallurgical and geotechnical programs, is expected to strengthen our technical understanding of the Project to support further project development on the path to Calico becoming a future producer.”

“At the same time, our exploration activities continue to ramp up, as highlighted by the recently completed airborne geophysical survey. We believe that the Calico Project has excellent potential for further significant discoveries, and that a systematic, multi-faceted exploration approach beginning with the surficial lithologic and structural mapping and complemented by the regional geophysics survey that are now completed, is key to unlocking that potential.

Geotechnical Analysis

SLR will provide geotechnical advisory services and technical oversight for our programs, including planning, analysis, and quality assurance of site investigations.

The geotechnical scope of work will include:

  • Site investigation planning and technical guidance for geotechnical logging and laboratory testing.
  • Desktop geotechnical gap analysis.
  • Supervision and QA/QC of third-party geotechnical work.

Metallurgical and Processing Test Work

SLR will also provide metallurgical advisory services to support test work and process evaluation at the Waterloo deposit. The metallurgical program is intended to advance the Company’s understanding of mineral recovery and support development of an optimized processing flowsheet for upcoming development studies.

Metallurgical work will include:

  • Test work recommendations and program design
  • Sample selection and laboratory test work planning
  • Monitoring and interpretation of metallurgical test work results
  • Processing flowsheet evaluation and recovery estimation

Previously collected metallurgical samples are being evaluated for further testing.

Exploration – Airborne Magnetic and Radiometric Survey

Apollo Silver engaged Precision to complete a high-resolution airborne magnetic and radiometric survey over portions of the Calico Project. The survey covered approximately 632-line km across the Waterloo and Mule properties and has now been completed. The survey was carried out at 50-meter line spacing, providing high-resolution geophysical coverage across the Project area.

The airborne program was designed to:

  • Collect high-resolution magnetic and radiometric data across priority exploration areas of the Calico Project.
  • Compare radiometric signatures observed at the Waterloo deposit with data collected over the Mule property.
  • Evaluate whether geological signatures associated with the known Waterloo mineralization can also be identified at Mule.
  • Generate and refine potential drill targets for future exploration programs.

About the Calico Project

The Calico Project is a large silver project located in San Bernardino County, California, approximately 9 miles northeast of the city of Barstow, in a region known as the historic Calico Silver Mining District. The Project is comprised of 525 mineral claims (2 unpatented mill site claims, 474 unpatented lode mining claims, 29 fee lands claims and 20 patented lode mining claims) in three separate properties (Langtry, Waterloo and Mule) totaling 8,419 acres. The majority of the mineral resources are located on private land with vested mining rights.

Apollo Silver’s Calico Project hosts one of the largest undeveloped primary silver resources in the United States. The 2025 mineral resource estimate for Calico contains 125 million ounces of silver in the Measured and Indicated category within 55 million tonnes grading 71 g/t silver, and 58 million ounces of silver in the Inferred category within 25 million tonnes grading 71 g/t silver.1

In addition, the Project contains significant critical mineral resources in barite and zinc, alongside its substantial silver resource, positioning Calico as a source of multiple minerals considered important to domestic supply chains. The deposit hosts an Indicated Resource of 2.7 million tonnes of barite and 354 million pounds of zinc within 36 million tonnes grading 7.4% barite and 0.45% zinc, and an Inferred Resource of 0.65 million tonnes of barite and 258 million pounds of zinc within 17 million tonnes grading 3.9% barite and 0.71% zinc.[1]

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not independent of the Company.

About Apollo Silver Corp.

Apollo Silver is advancing the second largest undeveloped primary silver project in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite and zinc credits – recognized as critical minerals essential to the U.S. energy, industrial and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo Silver is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy

President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements relating to the anticipated advancement of the Calico Project; the completion and results of metallurgical, geotechnical and exploration programs; the interpretation of geophysical survey results; the identification of new exploration targets; and the timing and potential completion of a preliminary economic assessment (“PEA”) and subsequent pre-feasibility study (“PFS”); the potential for additional mineral discoveries at the Project; the potential recovery of minerals and development of an optimized processing flowsheet. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. There is no certainty that the Project will advance to production or that ongoing exploration or technical studies, including the PEA, will demonstrate technical or economic viability or support future development of the Project.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and barite; the demand for silver, gold and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

1 For more information, please see the news release dated September 4 and October 16, 2025, and the N.I. 43-101 Technical Report titled “NI 43-101 Technical Report and Mineral Resource Estimate for the Calico Silver Project, San Bernardino County, California, USA,” dated October 16, 2025 (with an effective date of June 30, 2025). The Technical Report was prepared in accordance with National Instrument 43-101 (“NI 43-101”) Standards of Disclosure for Mineral Projects by Stantec Consulting Ltd. (“Stantec”) of Denver, Colorado. Mineral Resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into a mineral reserve.

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Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Discoveries Closes First Tranche of Private Placement

Edmonton, Alberta–(Newsfile Corp. – March 17, 2026) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces that, on March 17, 2026, it closed on the sale of 2,030,000 Units and 13,430,000 FT Units, at $0.035 per Unit and FT Unit, for gross proceeds of $541,100 as an initial tranche of a non-brokered private placement originally announced on February 27, 2026 (the “Offering”).

The Offering consists of up to 7,142,856 Units and up to 21,428,574 of any combination of Units and FT Units. Each Unit consists of one common share of the Company (“Common Share”) and one Common Share purchase warrant entitling the warrant holder to purchase an additional Common Share for $0.055 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 60 months (5 years) from the date of issuance (“Unit Warrant”). Each FT Unit consists of one Common Share and one half of one Common Share purchase warrant (“FT Unit Warrant”), each of which shall be issued as a “flow through share” for the purposes of the Income Tax Act (Canada). Each whole FT Unit Warrant shall entitle the holder to purchase an additional Common Share for $0.055 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 36 months (3 years) from the date of issuance.

The Offering remains open, with up to 5,112,856 Units and up to 7,998,574 of any combination of Units and FT Units, pursuant to closing of this first tranche. The Units and the FT Units are being offered at $0.035 per Unit or FT Unit. The Offering is being offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.In connection with the sale of an aggregate 2,030,000 Units and 12,430,000 FT Units, the Company paid cash finder’s fees of $29,463 and issued 841,800 non-transferable finder’s warrants, with equivalent terms to the FT Unit Warrants (“Finder Warrants”) as follows:

FinderFinder WarrantsCash Finder FeeVentum Financial Corp.36,000$1,260Hampton Securities Inc.60,000$2,100GloRes Securities Inc.685,800$24,003Raymond James Limited60,000$2,100 Following closing, the Company has 221,925,956 common shares issued and outstanding. The Common Shares and any Common Shares issued on exercise of the Unit Warrants, FT Unit Warrants, and Finder Warrants are subject to restrictions on trading until July 18, 2026. The Offering is subject to final acceptance of the TSX Venture Exchange.

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, PresidentSuite 363-9768 170 Street NWEdmonton, Alberta T5T 5L4Email: info@grizzlydiscoveries.comFor further information, please visit our website at www.grizzlydiscoveries.com or contact:

On behalf of the Board,GRIZZLY DISCOVERIES INC.Brian Testo, CEO, PresidentSuite 363-9768 170 Street NWEdmonton, Alberta T5T 5L4Email: info@grizzlydiscoveries.comFor further information, please visit our website at www.grizzlydiscoveries.com or contact:Nancy MassicotteCorporate DevelopmentTel: 604-507-3377Email: nancy@grizzlydiscoveries.comNeither 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.

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 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.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside and Questcorp Strengthen Union Project with Key Concession Consolidation🇲🇽

March 18, 2026 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (FSE: 5YY0), is pleased to announce the successful consolidation of the Famosa Area with three mineral concessions within the Union Project district in Sonora, Mexico, through the completion of the final payment and transfer of mineral title from Pacific Comox S.A. de C.V. to Riverside’s wholly owned Mexican subsidiary, RRM Exploración S.A.P.I. de C.V.. This provides the Company with clear ownership and the ability to advance exploration and, potentially, move toward mining based on future development results.
 
The transaction completes the acquisition of three mineral concessions: La Famosa, Dana 7, and Dana 7 which form an important portion of the southern part of the Union Project district. These concessions are mineral titles 199006, 220840, and 220841, with validity extending from 1994 through 2044 and 2003 through 2053, respectively. This long-term validity and fully titled status fit with the rest of the district mineral titles that the Company is advancing through its spring 2026 mineral exploration program.
 
The concessions were originally secured through an exploration agreement signed in August 2021 between RRM Exploración S.A.P.I. de C.V. and Pacific Comox S.A. de C.V., which provided Riverside with an option to purchase the claims within a five-year period (2021–2026). With the completion of the final payment of US$125,000, Riverside has now exercised the purchase option, and the titles have been formally transferred to Riverside. The total consideration for the acquisition amounts to US$175,000, and notably no net smelter royalty (“NSR”) or any other type of royalty is attached to this transaction.
 
“We are pleased to complete the consolidation of the Famosa area within the Union Project, securing full ownership with no royalty burden for the transaction on these key concessions,” said John-Mark Staude, President and CEO, Riverside Resources Inc. “This strengthens our district-scale land position and provides greater flexibility as we continue advancing exploration at Union with our partner Questcorp.”
 
The Famosa Area hosts carbonate replacement deposit (CRD) style mineralization and structurally controlled gold mineralization within dolomite and quartzite units, located in the southern portion of the broader Union Project district. The consolidation strengthens Riverside’s land position within the Union district and supports ongoing exploration efforts targeting CRD-style gold–silver–polymetallic mineralization.
 
This transaction represents another step in the systematic advancement of the Union Project, where Riverside has been working in partnership with Questcorp under an option agreement that provides for up to C$5.5 million in exploration expenditures funded by Questcorp while Riverside retains equity exposure and a 2.5% net smelter royalty on the project. Previous exploration programs at Union have included geological mapping, geophysics, diamond drilling, and high-grade rock chip channel sampling that have confirmed the presence of gold- and polymetallic-bearing CRD-style and sediment hosted gold-style mineralization across multiple targets within the district. By securing the Famosa concessions outright, Riverside further consolidates its district-scale land position and enhances the exploration potential across the southern portion of the Union Project. The expanded control of mineral titles provides increased flexibility for future exploration programs and supports the continued advancement of the project with partner-funded exploration.
 
Further technical updates related to exploration activities at the Union Project will be provided as programs progress.
 
About the Union Project
 
The Union Project is a district-scale carbonate replacement deposit (CRD) exploration project located in Sonora, Mexico. The project hosts historical mining areas and multiple exploration targets associated with gold, silver, zinc, and lead mineralization within carbonate and structurally controlled settings. Riverside operates the project through its Mexican subsidiary while advancing exploration in partnership with Questcorp.

Qualified Person

The technical content of the news release has been reviewed and approved by Freeman Smith, P.Geo. (British Columbia), a qualified person under National Instrument 43-101 who is non-independent and the Vice President Exploration for the Company.
 
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a strong balance sheet with over C$5,000,000 cash, no debt and tight share structure with a strong portfolio of gold-silver, copper, and REE assets and royalties in North America. Further information about Riverside is available on the Company’s website at www.rivres.com.
 
 

ON BEHALF OF THE BOARD OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO
 

 For additional information contacT:

John-Mark Staude
President, CEO
Riverside Resources Inc.info@rivres.comPhone:  (778) 327-6671
Fax:  (778) 327-6675
Web:  www.rivres.com
Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the risk that the Transaction will not be completed as contemplates, or at all, availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals

Game-Changer in Arizona: West Point Gold ($WPG) Drills Surface Gold!

Website https://westpointgold.com/
Press Release: https://westpointgold.com/west-point-gold-defines-new-gold-zone-at-gold-chain-black-dyke-drilling-returns-36-6m-of-1-04-g-t-au-from-surface/
Corporate Deck: https://westpointgold.com/investors/

This video features a deep-dive interview with Derek MacPherson, President and CEO of West Point Gold ($WPG), regarding the significant new gold discovery at the Black Dyke target within the Gold Chain Project in Arizona. Below is a detailed breakdown of the discussion with associated timestamps:

“Check out the timestamp links below to jump directly to the detailed technical analysis of the new Black Dyke discovery zone!”

0:00 – Introduction & Company Overview
1:30 – The Oatman District & Walker Lane Trend
3:15 – Black Dyke Target: 36.6m of Surface Gold Breakdown
5:45 – Validating a Potential Deeper System: Deeper Drill Hits
8:00 – 15,000m Program: Where are the Next 24 Drill Hole Assays Pending?
10:30 – Key Milestones defining a ‘Successful’ 2026
12:45 – Capital Structure & Financial Discipline
15:00 – CEO’s Closing Message & How to Invest

RUMBLE: https://rumble.com/v779o1s-game-changer-in-arizona-west-point-gold-wpg-drills-surface-gold.html