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Canada’s Mountain Province Diamonds says worker dies at Gahcho Kue mine

Sept 2 (Reuters) – Mountain Province Diamonds Inc said on Friday that an employee from a contractor died due to injuries sustained in an incident at Gahcho Kue mine in Canada’s Northwest Territories.

The cause of the incident, which happened on Thursday, was unclear and all non-essential work at the mine has been stopped.

The mine is a joint venture between Canada’s Mountain Province Diamonds and De Beers Group, which owns 51%.

“The circumstances around what happened are under investigation by the appropriate authorities,” the companies said. (Reporting by Ankit Kumar; Editing by Maju Samuel)

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Forced Diversity: A Social Disaster

Maritime Resources

Over the last couple of years, public companies have been arm-twisted into promoting certain people to meet diversity criteria. Of course, this has come at the cost of meritocracy and has become a rationality trap. Forced diversity does tremendous social harm, although when accepted as a necessity, individual companies lose out if they don’t have a diversity program. Fund Managers are hesitant to invest in companies that do not have at least a woman on the board of Directors. Big companies and even junior mining companies have been forced into implementing diversity. Here are my thoughts:

On Investments

I have written about Maritime Resources (MAE; $0.045) several times. I pay close attention, for I am likely the largest non-institutional shareholder. MAE recently released a news release about the completion of a feasibility report. The report is yet to be filed, but it meets most of my expectations.

MAE is trading for its lowest ever. It had a working capital of $0.5 million on 30th June 2022. The quarterly corporate expenses are more than $0.6 million. This means that MAE likely has a working capital deficit today and must be desperate to raise money.

If they raise one-third of the capital requirement in equity, MAE will get diluted by >100%, even if they issue no warrants, destroying any upside. Investors knowing fully well that the company needs cash, have no reason to buy at $0.05, which is also the lowest price at which the stock exchange allows companies to raise money. So, I cannot see why investors would give a bid higher than $0.045 and not sell at $0.05.

MAE share price is stuck in a $0.04 and $0.05 range. And there is no significant news awaited to lift the share price. I don’t envy the management, and I certainly don’t envy my position as a shareholder.

A few years back, Signal Gold made a hostile bid for MAE for half of their share. If the same offer came again, it would be worth $0.20. I don’t see such an offer coming. Still, a merger with Signal would remove the corporate expenses related to MAE, a saving of $2.5 million per year, a significant value for a small company. Operationally, it would be a massive win-win. MAE has $25 per tonne ore as trucking costs. This should fall significantly if the mill of Signal is used. With lower operating costs, they can perhaps even reduce the grade delivered to the mill and increase the total resources. Signal would benefit from a higher-grade ore for their hungry mill.

What would Signal pay for MAE? I see enough value in MAE to get an offer between $0.075 and $0.14. Moreover, a three-way merger of MAE, Signal Resources, and Rambler Metals & Mining would significantly reduce the corporate expenses of these three small companies and provide several other operational synergies than what I have explained above.

What would I do now? I would buy MAE at $0.04, hoping that a corporate transaction would happen. And I do hope that they do not raise money at the current share price.

Jayant Bhandari

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

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Base Metals Energy Junior Mining Precious Metals

Collective Mining to Present at Precious Metals Summit Beaver Creek

Collective Mining Ltd.
Collective Mining Ltd.

TORONTO, Sept. 01, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that Executive Chairman Ari Sussman will be participating at the upcoming 2022 Precious Metals Summit in Beaver Creek, Colorado taking place September 13-16, 2022.

The Company will be presenting on Tuesday, September 13th at 1:45pm in Room 1 and is also available for one-on-one meetings.

Management will be discussing its new Apollo discovery at its Guayabales project, which Executive Chairman Ari Sussman stated on August 29, 2022; “… the Apollo Main Breccia has all the right markers to evolve into a large-scale discovery.” Notable intercepts include:

  • APC-2: 207.15 metres @ 2.68 g/t AuEq.
  • APC-3: 180.6 metres @ 2.43 g/t AuEq.
  • APC-5: 268.0 metres @ 1.50 g/t AuEq.

The Company will further update investors on its ongoing 20,000 metre drill program where management expects to release new assay results over the short-term.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company has made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq, 89.4 metres at 2.46 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Contact Information

Collective Mining Ltd.
Steven Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Categories
Base Metals Energy Junior Mining Precious Metals

Silver Bullet Mines Corp. Begins Processing of Higher Grade Ore

Burlington, Ontario–(Newsfile Corp. – September 1, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce two major achievements. It has begun processing higher grade ore at its 100%-owned mill, and it has signed its first contract for the delivery of silver dore bars.

“These are major milestones in the Company’s growth,” said A. John Carter, SBMI’s CEO. “In less than a year after starting construction of our mill, we are processing the higher grade material extracted from our Buckeye Silver Mine and we have signed our first contract to deliver silver out of that mine. This is outstanding work from everyone on the team.”



First run of higher grade material at the mill

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/135625_6aaaddfe043ffb8f_001full.jpghttps://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Company%253BProcessing_(programming_language)%253BSilver_mining%253BHigher_(Scottish)%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25228c42cb15-a414-3839-976b-78db104ac8a6%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

The bars for the order will be poured at the Company’s mill site near Globe, Arizona, using a mixture of the lower and the higher grade ores taken from the Company’s Buckeye Silver Mine. Several of the bars have already been poured and are ready for shipping and it is intended that the others will be poured in the immediate future.

This first order is a sample run of 50 kilograms of dore silver. The identity of the counter-party to the agreement is confidential. That counter-party has expressed an intention after this sample run to purchase all available uncommitted silver product produced at the Company’s mill.

SBMI recently received a technical report (not NI43-101) from its third-party engineering firm with minor recommendations to increase efficiencies at the mill. SBMI has implemented such recommendations while running the lower grade material stockpiled at the mill. The successful processing of this ore has led to the decision to start processing the higher grade material. In management’s opinion the mill is now running at near-optimal efficiencies.

The grade of the ore and the dore bars will be disclosed in the normal course, as the ore is processed.

Please visit the Company’s website for videos of the higher grade material being processed.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135625

Categories
Base Metals Junior Mining Precious Metals

Stillwater Critical Minerals Congratulates Heritage Mining on their Initial Public Offering

VANCOUVER, BC / ACCESSWIRE / August 30, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) congratulates Heritage Mining Ltd. (“Heritage”) for completion of their Initial Public Offering (“IPO”) and commencement of trading on the Canadian Securities Exchange under the symbol HML.

Under an earn-in agreement with SWCM announced November 29, 2021 (“the Agreement”), Heritage can acquire up to a 90% interest in the Drayton-Black Lake gold project in Ontario by completing cash and share payments totaling $320,000 and 7,200,000, respectively, and completing exploration and development work totaling $5,000,000 by the fourth anniversary of the Agreement.

The Agreement also provides SWCM with a 10% carried interest through completion of a feasibility study and includes potential success-based discovery payments of $1.00 per ounce of gold or gold equivalent on mineral resource estimates as filed from time-to-time on Drayton-Black Lake. Success-based payments are capped at a maximum of $10,000,000 and may be paid in cash or shares at Heritage’s discretion. At SWCM’s discretion, Heritage may own 100% of the project, with SWCM retaining an NSR royalty interest. Heritage has confirmed that issuance of 2,800,000 shares, required as a first tranche per the Agreement, is in progress and acknowledges the requirement for a cash payment of $150,000 within 10 days of the one-year anniversary of the Agreement.

Michael Rowley, SWCM’s President and CEO, commented, “Our heartiest congratulations to Heritage Mining for completing their IPO. This achievement is not only an important milestone in our agreement with them but is also one that sets the stage for our mutual success as they advance the Drayton-Black Lake project as their flagship asset. Heritage is off to a great start with a large and highly prospective land package in a producing yet underexplored high-grade district and a team with strong local expertise. gold belt. We expect our agreement with Heritage to be the first in a series of deals whereby we realize significant value for our non-core assets as part of our focus on battery and precious metals at Stillwater West, in Montana’s Stillwater Igneous Complex.”

Heritage Mining’s CEO, Peter Schloo stated, “Completing the IPO is a pivotal moment for Heritage. District-scale exploration assets are very rare, and the project’s location in Ontario’s producing Rainy River district adjacent to Treasury Metals’ Goliath Gold Complex makes it even more compelling. We are well-capitalized and excited about the potential of the Drayton-Black Lake project, and we look forward to reporting on our progress and the targets we have developed there.”

About the Drayton-Black Lake Gold Project

The Drayton-Black Lake project consists of over 142 square kilometers in the Abrams‐Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province in Ontario, Canada. This emerging gold belt has already produced over one million ounces gold1 and currently hosts 6.6 million ounces of gold in Reserves and Measured and Indicated resources in total among New Gold’s Rainy River Mine, Treasury Metals’ Goliath Gold Complex, and First Mining’s Cameron gold project2. Drayton-Black Lake has significant exploration potential with demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ development-stage Goliath Gold Complex project. Access and infrastructure are excellent on the project, which features direct road access and proximity to rail and power. The project features well-defined, near-term drill targets over four zones, based on over 100 years of exploration data from 176 diamond drill holes totaling approximately 20km that had never been compiled until 2022.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Mining_engineering%253BCanadian_Securities_Exchange%253BNatural_resource%253BExploration%253BInitial_public_offering%253BPrecious_metal%253BMineral%253BNew_Gold%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522f7bb1360-0dab-3a4d-8e1e-8e30f01e3037%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well-positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected in 2022.

Stillwater Critical Minerals also holds the high-grade Drayton-Black Lake gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company’s district-scale Kluane PGE-Ni-Cu-Co project is on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s high-grade Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: info@criticalminerals.com
Phone: (604) 357 4790
Toll Free: (888) 432 0075
Web: http://criticalminerals.com

Footnotes: 1 – New Gold company reports; 2 – Totals include Rainy River Mineral Reserves and Mineral Resources https://newgold.com/assets/reserves-and-resources/default.aspx, Goliath Gold Complex Mineral Resources Treasury Metals https://treasurymetals.com/site/assets/files/4272/goliath_gold_complex_ni_43-101_resource_estimate_f.pdf and First Mining’s Cameron project Mineral Resources https://www.firstmininggold.com/assets/other-wholly-owned/cameron-project/

References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the projects. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is currently insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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.

SOURCE: Stillwater Critical Minerals



View source version on accesswire.com:
https://www.accesswire.com/713962/Stillwater-Critical-Minerals-Congratulates-Heritage-Mining-on-their-Initial-Public-Offering

Categories
Base Metals Energy Junior Mining Project Generators

Millrock Adds to Treasury From Royalty Sale

VANCOUVER, British Columbia, Aug. 29, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that it has sold a portfolio of royalties on exploration projects in British Columbia, Canada and Sonora State, Mexico to Osisko Gold Royalties Ltd (“Osisko”). Gross proceeds from the sale are $1.2 million.

Millrock President & CEO, Gregory Beischer, commented: “Prevailing market challenges make an equity financing difficult and raising capital in this manner would be highly dilutive to shareholders. Sale of non-core assets is the best way to bolster Millrock’s treasury for continued project generation activities, while we wait for assay results to roll out from two major Alaska gold drilling projects in which Millrock holds an interest.”

PROJECT NAMENSR%
Mexico Royalties 
Santa Rosalia0.5%
El Valle0.5%
El Pima0.5%
Violeta0.5%
Guadalcazar0.5%
  
British Columbia Royalties 
Todd Creek1.5% to 2.0%
Oweegee Dome1.5% to 2.0%
Willoughby1.5% to 2.0%

Table 1. Royalties sold to Osisko for $1.2 million.

The right to any proceeds stemming from the exercise of any royalty buy backs pertaining to the British Columbia royalty properties has been assigned to Osisko. Additionally, Millrock has granted certain rights to Osisko in relation to royalties currently held, or that may be created, by Millrock during the next five years.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including but not limited to the receipt of drill results from Alaska drilling projects. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Categories
Uncategorized

Taking Apart an EV Battery Illustrates Why ‘Made in America’ Will Be Tough

President Biden’s Inflation Reduction Act calls for at least 50% of an electric vehicle’s battery to be made in the U.S. to qualify for a federal discount. WSJ’s George Downs breaks down a battery to explain why that’s going to be a challenge. Illustration: George DownsGeorge Downs

https://www.wsj.com/video/series/george-downs/taking-apart-an-ev-battery-illustrates-why-made-in-america-will-be-tough/3D672BDF-2C6C-4EBB-A8FC-BFE423A920BA?mod=e2tw

George Downs explores the evolution of transportation, from electric vehicles to commercial aviation and the future of spaceflight.

Up Next in George Downs

  • E34The Climate Bill Unlocks New EV Discounts, but Not Everyone’s a WinnerThe climate bill recently passed by the senate could knock thousands of dollars off the sticker price of electric vehicles, but it’s also redefining which cars are eligible. WSJ’s George Downs breaks down the new rules and what it means for the EV industry. Illustration: George Downs
  • E33Over 1,000 Aircraft Orders Behind: How Can Boeing Catch Up to Airbus?Boeing is typically nearly tied for orders with rival Airbus entering the annual Farnborough Airshow, but this year it’s well behind. WSJ’s George Downs reports from the show on how Boeing is trying to catch up and what it will take to restore balance to the aviation duopoly. Illustration: Rami Abukalam
  • E32eVTOL Startups Wisk, Vertical and Others Descend on Farnborough Air ShowA whole fleet of eVTOL startups turned up at Farnborough Airshow this year with mockups, scale models and even functioning aircraft. WSJ’s George Downs reports from on the ground to see which ones look set for takeoff. Illustration: George Downs
Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Collective Mining Drills 180.6 Metres Grading 2.43 g/t Gold Equivalent in the Newly Discovered Main Breccia at the Apollo Target

Collective Mining Ltd.
Collective Mining Ltd.

Figure 1

Plan View of the Guayabales Project Highlighting the Apollo Target
Plan View of the Guayabales Project Highlighting the Apollo Target

Figure 2

Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway

Figure 3

Plan View with Traces of drill holes completed to date in the Main Breccia Discovery at Apollo
Plan View with Traces of drill holes completed to date in the Main Breccia Discovery at Apollo

Figure 4

Apollo Target Cross Section N-S with Core Photo Highlights for APC-5
Apollo Target Cross Section N-S with Core Photo Highlights for APC-5
  • APC-3 intersected a broad, high-grade zone of breccia mineralization with multiple, overprinting carbonate base metal veins beginning at 200 metres below surface and returned:
    • 180.6 metres @ 2.43 g/t gold equivalent.
  • APC-5 also intersected the main breccia structure with some overprinting carbonate base metal veining beginning at 135 metres below surface and yielded:
    • 268.00 metres @ 1.50 g/t gold equivalent.
  • Three rigs continue to actively drill at Apollo with four additional completed holes awaiting assay results in the near term.
    • APC-6 and APC-8 were designed to test the main breccia target at Apollo and both holes intersected more than 265 metres of potentially favourable mineralization.
    • APC-4 and APC-7 were NOT designed to test the main breccia target but rather two grassroot concept targets at Apollo. Both holes intersected potentially favorable mineralization with APC-4 cutting a 10-20-metre-thick zone of carbonate base metal veins with visible gold observed in one vein and APC-7 cutting 3 mineralized zones of favorable angular breccia down-hole between 20-40 metres thick.
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TORONTO, Aug. 29, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from two additional holes completed at the Apollo target (“Apollo”) at the Company’s Guayabales project located in Caldas, Colombia. Apollo is a newly discovered high-grade copper-gold-silver porphyry-related breccia and is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target with an additional rig drilling from underground at the Olympus target.

“These latest drill intercepts demonstrate the remarkably continuous nature of this mineralized breccia and overprinting CBM vein system which is now expanding with every drill hole that we complete. With multiple overprinting events depositing mineralization into the system, the Apollo main breccia has all the right markers to evolve into a large-scale discovery. We will remain aggressive with drilling for the balance of 2022,” commented Ari Sussman, Executive Chairman.

A short video presented by David Reading discussing the results can be seen by clicking here.

Details (See Table 1 and Figures 1 – 4)

Five diamond drill holes with accompanying assay results have now been announced at Apollo and resulted in expansion of this main breccia and overprinting vein system with dimensions of up to 300 metres along strike by 100 metres across by 400 metres vertical. The target remains open in all directions and has the potential to evolve into a significant high-grade, bulk tonnage mineralized system.

Drill holes APC-3 and APC-5 were drilled in opposite directions from two separate drill pads (Pads 2 and 3) to the northeast and southwest respectively to test continuity of the mineralized breccia previously intersected in holes APC-1, APC-1W and APC-2 and to test the early working model of the geometry of the main breccia (see press releases dated April 27, 2022, June 22 and July 6, 2022). The following results are highlighted:

  • APC-3:
    180.60 metres @ 2.43 g/t AuEq from 303.40 metres down hole (200 metres vertical) including:
    21.10 metres @ 3.47g/t AuEq from 304.9 metres down hole, and
    46.60 metres @ 5.13 g/t AuEq from 363.1 metres down hole.

APC-3 is the first hole drilled from a newly constructed pad (Pad 3) located approximately 400 metres to the south of Pad 1 (Holes APC-1 and 1W) and 300 metres to the southwest of Pad 2 (Hole APC-2 and APC-5).

  • APC-5:
    268.00 metres @ 1.50 g/t AuEq from 210.5 metres down hole (135 metres vertical) including:
    16.35 metres @ 2.55 g/t AuEq from 210.3 metres down hole,
    19.20 metres @ 3.03 g/t AuEq from 252.6 metres down hole, and
    22.25 metres @ 2.92 g/t AuEq from 456.6 metres down hole.

APC-5 was drilled from Pad 2 to the SW with a steeper inclination and a 200-metre vertical difference from the previous intercept reported in APC-2.

  • Mineralization is remarkably continuous along the axis of both intercepts and is hosted within an angular breccia with a sulphide matrix consisting of chalcopyrite (Cu), pyrite and pyrrhotite. Additionally, overprinting carbonate base metal porphyry veins flood the breccia matrix in various locations along the mineralized interval yielding the higher-grade intercepts in both holes. The breccia clasts are all quartz diorite and diorite in composition and this hydrothermal system is clearly linked to a porphyry system.
  • A further four holes (APC-4, APC-6, APC-7 and APC-8) have now been completed with APC-9, APC-10 and APC-11 now being drilled.
    • APC-6 and APC-8 were designed to test the main breccia target at Apollo and both holes intersected more than 265 metres of potentially favourable mineralization.
    • APC-4 and APC-7 were NOT designed to test the main breccia target but rather two grassroot concept targets at Apollo. Both holes intersected potentially favorable mineralization with APC-4 cutting a 10-20-metre-thick zone of carbonate base metal veins with visible gold observed in one vein and APC-7 cutting 3 mineralized zones of favorable angular breccia down-hole between 20-40 metres thick.
  • The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metre X 700 metre area. The Apollo target area hosts the Company’s new grassroots main breccia discovery plus additional yet untested breccia, porphyry and vein targets. The Apollo target area also remains open for further expansion.

Table 1: Assays Results

HoleIDFrom
(m)		To
(m)		Intercept
(m)		Au (g/t)Ag (g/t)Cu %Zn %Pb %Mo %AuEq (g/t)*
APC-3303.40484.00180.601.52390.160.130.110.0012.43
Incl304.90326.0021.102.86240.040.280.280.0013.47
 363.10409.7046.603.78580.200.330.270.0015.13
APC-5210.25478.25268.000.89220.130.110.070.0021.50
Incl210.25226.6016.351.95200.040.3080.230.0012.55
 252.60271.8019.202.61140.040.2710.130.0003.03
 456.00478.2522.252.30210.040.3320.240.0022.92
and496.80510.6513.850.7190.020.1440.110.0011.00

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95) + (Cu (%) x 1.96 x 0.95) + (Mo (%) x 7.35 x 0.95)+(Zn(%)x 0.86 x 0.95)+ (Pb(%)x 0.44 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Mo – US$15.00/lb, Zn – US$1.75/lb, Pb – US$0.9/lb, Ag – $20/oz and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Cu, Mo, Zn and Mo. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/eeb9e76f-a937-4682-a99b-ac6ab09f0c51

Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
https://www.globenewswire.com/NewsRoom/AttachmentNg/7eca55ae-f68b-48d2-a2a9-cac7f26df452

Figure 3: Plan View with Traces of drill holes completed to date in the Main Breccia Discovery at Apollo
https://www.globenewswire.com/NewsRoom/AttachmentNg/b56c6abe-3941-438c-8374-c39142a568c3

Figure 4: Apollo Target Cross Section N-S with Core Photo Highlights for APC-5
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb5d25f0-7fdc-4103-9370-fefd14b96872

Marketing Services Agreement

The Company is pleased to announce an agreement with Proven and Probable (“PP”) to provide investor relations services to the Company, subject to approval by the TSX Venture Exchange (the “TSX-V”).  PP will provide investor relations services to increase exposure to and awareness of Collective.  Services include, but not limited to:

  • Displaying Collective on its sponsor webpage.
  • Conduct interviews with management and advisors and publish them on their website and other virtual channels.
  • Publish third party media regarding Collective on their website and other virtual channels.

The agreement with PP has a term of one year, for which they will be paid an annual fee of USD $72,000.  PP currently owns 3,250 common shares of Collective.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company has made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq, 89.4 metres at 2.46 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Contact Information

Collective Mining Ltd. 
Steven Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Categories
Junior Mining Precious Metals

Lion One Announces New Regional Gold Discovery 2km Northeast of Tuvatu

Batiri Creek Vein: Surface Channel Sample Returns 13.27 g/t Au over 4.0m

North Vancouver, British Columbia–(Newsfile Corp. – August 29, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce a new regional high grade gold discovery, the Batiri Creek Vein, located in the Navilawa Caldera 2 km northeast of the Company’s 100% owned, fully permitted Tuvatu Alkaline Gold Project in Fiji.

The Batiri Vein discovery is credited to the Lion One Fiji exploration team’s regional benching and surface sampling program targeting new gold bearing systems in under-explored regions peripheral to Tuvatu in the surrounding Navilawa Caldera.

The new structure is characterized by an intense zone of veining on a lithological contact between monzonite and andesite, with two significant N-S and NE-SW oriented structural intersections. The lithological contact and structural intersections observed in the Batiri Vein are comparable to the lithological contact and structural intersections observed from deep extensional drilling in the 500 Zone below the Tuvatu resource where Lion One recently reported the longest and highest-grade intercepts yet recovered at Tuvatu, including 20.86 g/t Au over 75.90m from TUG 141 (see NR dated June 6, 2022) and 12.22 g/t Au over 54.90m including 20.10m @ 23.03 g/t Au from TUDDH 601 (see NR dated Aug. 15, 2022).

Highlight intercepts from surface benching/channel sampling program include:

Surface Channel: Batiri Vein (CH3047-CH3048)

  • 13.27g/t Au over 4.0m at surface including:
    • 36.10 g/t Au over 1.0m and
    • 17.91 g/t Au over 0.80m
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Other results from the Batiri Vein include:

  • Channel CH2765 with 2.63g/t Au over 1.0m
  • Channel CH2834 with 3.32g/t Au over 0.3m
  • Channel CH2789 with 3.54g/t Au over 0.3m
  • Channel CH2946 with 3.42g/t Au over 0.4m
  • Channel CH3073 with 3.32g/t Au over 1.0m

Lion One is planning a regional drill program for the Batiri Vein target. The Company now has eight drill rigs, with the pending delivery of the latest two rigs expected around mid-September. The Company currently has two drilling programs underway, including Zone 5 infill drilling on the Tuvatu resource, and deep extensional drilling in Zone 500 below the Tuvatu resource. The Company has now drilled approximately 6,100 meters, about 75% of the planned infill drilling on Zone 5 and expects to announce the results from previously unreleased holes in the near future.

Lion One technical advisor Quinton Hennigh stated, “Tuvatu and the wider Navilawa Caldera are part of a classic alkaline gold system. As we know, from geologically comparable world class systems, such as Porgera in PNG or Cripple Creek in Colorado, these kinds of deposits are not isolated and there is potential for multiple zones of mineralisation within the gold camp. The new discovery on the Batiri Vein presents the potential for such a new discovery.”

Lion One CEO Walter Berukoff further stated, “The new discovery at surface on the Batiri Vein is very encouraging and I congratulate the regional exploration team for their persistence. While the Tuvatu Gold Project is the core of our development, any new discoveries in the immediate vicinity potentially play a part in the development of a high-grade gold mine. We look forward to following this up with drilling in the near future.”

Figure 1. Photograph and channel sampling results of Batiri Vein (channel CH3047-3048)

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2178/135128_0f43ecec44429b03_001full.jpg

Channel IDSample IDNorthEastAzimuthDipInterval (m)Gold (g/t)
CH2765TUS018561392219818773709001.002.63
CH2789TUS0187183922222187750427500.303.54
CH2834TUS01908939219561877605160300.303.32
CH3073TUS0206383922347187812415001.003.32
CH2946TUS0197413921886187773113000.403.42
CH3047/30483922281187807812004.0013.67
includingTUS0204443922281187807812001.0036.10
TUS02044611500.801.14
TUS02044711500.8017.91
TUS02044811500.802.05

Table 1: Batiri Bench Channel Samples (Grid = Fiji Map Grid WGS72) Survey handheld GPS with accuracy +-8m. Pending survey pick up with differential GPS.

Figure 2. Map showing surface channel sampling at Batiri Vein relative to the Tuvatu Gold Deposit

To view an enhanced version of Table 2, please visit:
https://images.newsfilecorp.com/files/2178/135128_0f43ecec44429b03_002full.jpg

Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its channel sampling, drilling, testing, and analyses. For Channel Sampling, Company geologists first map the bench, and then measure and mark-up sample intervals based on geological structure. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited

Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135128

Categories
Uncategorized

EMX Royalty Options the Mesa Well Copper Project in Arizona to Intrepid Metals

Vancouver, British Columbia–(Newsfile Corp. – August 26, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”), is pleased to announce the execution, by its wholly-owned subsidiary Bronco Creek Exploration Inc., of an option to purchase agreement (the “Agreement”) for the Mesa Well property (the “Project”) to Intrepid Metals Corp. (“Intrepid”). The Agreement provides EMX with cash and share payments during Intrepid’s earn-in period, and upon earn-in, a retained 2% net smelter return (“NSR”) royalty interest, annual advance royalty payments, and certain milestone payments.

The Mesa Well Project is located in south-central Arizona’s porphyry copper belt, approximately 100 kilometers northeast of Tucson. The principal target is a structurally dismembered and rotated porphyry copper-molybdenum system concealed beneath strongly tilted, post-mineral cover rocks. There are additional targets of skarn/replacement mineralization, also beneath cover rocks.

The Agreement with Intrepid is an example of EMX’s execution of the royalty generation aspect of its business model. The Company acquired Mesa Well at minimal cost in a premier porphyry copper belt, and has now partnered the Project for further in-the-ground exploration investment, pre-production payments, and a retained NSR royalty interest, all at no additional cost to EMX.

Commercial Terms Overview. Intrepid can earn 100% interest in the Project before the fifth anniversary of the Agreement by: (a) making execution and staged option payments totaling $350,000, (b) delivering 600,000 common shares of Intrepid, and (c) incurring $2,000,000 in exploration expenditures. After earn-in, EMX will retain a 2% NSR royalty interest on the Project and will receive certain annual advance royalty (“AAR”) payments.

Additionally, Intrepid has agreed to make payments to EMX at certain Project milestones: (a) $200,000 upon completion of a Preliminary Economic Assessment; (b) $500,000 upon completion of a Prefeasibility Study; and (c) $1,000,000 upon completion of a Feasibility Study.

All dollar amounts are in USD unless otherwise noted.

Mesa Well Overview. The Mesa Well Project is covered by State of Arizona exploration leases that were acquired as a result of EMX’s southwestern U.S. porphyry copper royalty generation program. The original target concept was derived from the coincidence of locally anomalous water well geochemisty and an unexplored porphyry dike swarm striking toward those anomalies, with several water wells reporting high molybdenum values and notable “multiparameter” anomalies1.

The Mesa Well target area is covered by highly tilted, post-mineral, Tertiary gravels. Field work to the east of the principal target area identified: 1) a variety of porphyry dikes and associated weak, but broadly-developed biotitic and sodic-calcic alteration with sparse chalcopyrite mineralization and 2) exotic, secondary copper mineralization along a low angle fault zone that spans from the dike swarm to the geochemically anomalous water wells. The dikes, alteration, and mineralization are characteristic of the deeper flanks of a porphyry system. The remobilized copper mineralization is interpreted to be sourced from the porphyry target beneath the post-mineral cover.

Exploration by a previous partner included five holes totaling 2,701 meters of reverse circulation and 981 meters of core drilling which intersected distal porphyry copper alteration and mineralization. These drill intercepts increase in alteration intensity and mineralization (pyrite-chalcopyrite-molybdenite-bearing quartz veins with sericitic alteration) and vector toward the target area. Permitting was completed for a planned follow-up drill program that was never executed. As a result, the Mesa Well Project presents “walk-up” drill targets for Intrepid’s upcoming work programs. Intrepid advises it has plans to complete geophysical surveys on the Project prior to year-end, followed by a drill program in Q1 2023.

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 EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

1 Bolm, K. S., Hayes, T. S., and Brown, J. G., 2008, Using alluvial basin ground-water chemistry to explore for concealed porphyry copper deposits in Arizona, in: Ores and Orogenesis: Circum-Pacific Tectonics, Geologic Evolution, and Ore Deposits, Arizona Geological Society Digest 22, Spencer, J. E., and Titley, S. R., eds. p. 137-149.

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