Kelowna, British Columbia–(Newsfile Corp. – February 11, 2025) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that ground geophysical exploration programs have commenced on the Broach and Minto Properties. A total of 55 line km of Moving Loop TDEM ground EM will be undertaken on two grids of interest testing suspected conductive corridors previously identified by airborne surveys, and both parallel to the A1 conductor system which hosts the high grade JR Zone on the PLN property.
Minto Property: A4 Grid
14 line-km of MLTDEM ground geophysics testing an approximately 7,200m long conductive corridor identified by airborne MobileMT which was flown by F3 in 2023. F3 has one hole drilled on this grid in 2014; PLN14-021 intersected up to 44ppm uranium in basement, and 698ppm boron directly above the Athabasca Unconformity at 413m. Anomalous geochemistry and proximity to the Harrison fault in a corridor parallel to the A1 conductor make this grid a strong exploration target area.
Broach Property: PW Grid
41 line-km of MLTDEM ground geophysics covering a suspected conductive trend, approximately 12km south of, and parallel to the JR Zone. This particular area of the Broach property hosts thick discontinuous layers of conductive mudstones and these flat lying conductive units hampered the effectiveness of a previously flown airborne EM (VTEMmax) survey flown in 2014. Ground based geophysics is anticipated to effectively penetrate the conductive cover allowing for drill target generation. Due to its location near the interpreted Athabasca Basin boundary and the historic difficulty of exploring under conductive cover, this large area remains underexplored.
Sam Hartmann, Vice President Exploration, commented:
“We are excited with the prospect of upgrading the Broach and Minto properties to the drilling stage with this round of ground EM, which we anticipate assisting in reducing broader airborne conductivity responses to more precise conductor models for drill testing. At the A4 grid, where some historic ground EM coverage prompted us to drill a single hole in 2014, this new ground EM will give us an improved conductor model, in a strategic location near the projected confluence of the Harrison Fault with the A4 conductive corridor. At the PW grid, we are aiming to generate a conductivity model in an area where no previous airborne EM conductors have been clearly identified, near the margins of the Athabasca Basin in an area of very limited historical drilling. Identifying ground conductors near the present day margins of the basin is something that we are specifically interested in. Additionally, recent re-modelling of historic ground EM surveys south of Broach Lake has resulted in an additional target; the northeast trending BRS conductor. This suspected structure sits along favorable MT conductivity, and we look forward to upgrading the BRS conductor to the drilling stage as well with ground EM surveying.”
Map 1. Broach and Minto Properties, 2025 Exploration
The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Fission Uranium’s Triple R deposit.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2
Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO
ST. LOUIS, Feb. 6, 2025 /PRNewswire/ — Peabody (NYSE: BTU) announced today that its Board of Directors has declared a quarterly dividend on its common stock of $0.075 per share, payable on March 11, 2025 to stockholders of record on February 19, 2025.
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.
This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, dividends, share repurchases, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
In this episode of ‘Proven and Probable,’ we engage with Bob Moriarty, a distinguished commentator on geopolitical and economic affairs. Bob’s extensive experience includes serving as a Marine F-4B pilot during the Vietnam War, where he flew over 820 combat missions and became one of the most highly decorated pilots of the conflict.
We delve into the recent tragic collision between an American Airlines plane and a military helicopter near Washington, D.C., exploring Bob’s insights on the incident, the National Transportation Safety Board’s investigative approach, and media coverage.
The discussion also covers U.S. tariff policies, international responses, and the current state of gold and precious metals, providing a comprehensive analysis of these pressing issues.
Join us for an in-depth conversation that offers clarity and depth on these complex topics.
Vancouver, British Columbia–(Newsfile Corp. – February 5, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that the next stage of exploration is now progressing, following the successful completion of the joint Q4 2024 drilling program at the Cecilia Gold Project in Sonora, Mexico. The drill program was conducted in partnership with Fortuna Mining, which continues to advance their earn-in option on the project (See news release: March 13, 2024). Riverside, acting as the operator, completed an initial five-hole, 2,250-meter drilling campaign designed to test four distinct target areas generally with one geological evaluation drill hole per target to seek scale and evidence of a potentially strong hydrothermal system which would set up for a follow up 2025 exploration program which has now begun. The drilling in Q4 hit favorable indicators as outlined below and continued to develop the district scale targets both at Cerro Magallanes and on the broader >60 km sq property package with vast areas to expand.
The drill program announced in September (See press release: September 10, 2024), where Riverside outlined its goals to define and expand key targets at Cecilia. The latest program hit gold mineralization in each target area and broader epithermal alteration consistent with target styles like the nearby Mercedes Mine Sonora and Oatman Gold District Arizona. At Magallanes Hill, two holes were drilled at the San Jose target, followed by one hole on the eastern flank, referred to as the East Target. Additionally, two holes were drilled in the Mesa area to the south: one testing the Mayra Vein concept and the final hole drilled eastward to intersect the Mesa Fault, a significant structural target.
“We are encouraged by the results of the Q4 2024 drilling program, which focused on testing geological features with limited previous drilling, just one or two holes in each area, and yielded positive indicators while also uncovering some unexpected geologic surprises,” said John-Mark Staude, President and CEO of Riverside Resources. “This program not only confirmed earlier gold intercepts but also expanded the scale of exploration with significant step-outs and new target areas. The ongoing work underscores our commitment to unlocking new opportunities and delivering sustained value to our stakeholders.”
Highlights of the Drill Program:
San Jose Vein System (North Breccia): Two holes were drilled to extend testing of this structure, building upon results from previous drilling and assay work. The San Jose system has shown significant mineralization potential, as highlighted in prior programs including samples returning values of up to 48.3 g/t Au over 0.75 m at surface (See press release: January 28, 2021). Drilling to depths of 500 to 800 meters successfully intersected the San Jose structure in both holes, confirming the continuity of this extensive vein system. Notably, hole CED24-010 returned an intercept of 3.41 g/t Au over 4 meters, starting at a depth of 76 meters, with an additional lower intercept including 0.39 g/t Au over 5.25m starting at 319m identified along the projected extension of the San Jose vein which topographically is over 500m below the Magallanes peak and previous drill intercepts in the upper part of the San Jose vein system. These results are illustrated in the cross-section below.
East Target: A single hole was drilled perpendicular to known mineralization identified in surface samples and previous drilling by Cambior (1996). This hole crossed through thick zones of alteration, adding valuable geological data for this target and confirming that Cecilia has strong feeder zones for gold. The hole intersected at least 6 gold bearing intervals with one being 0.38 g/t Au over 1.75m starting from 149.25m. This hole was drilled eastward in order to constrain the dip as past drill holes had been drilled westward. The single new hole intercepted multiple veins for this part of the eastern Magallanes system as shown on the map below and on the Company website
Mesa Ranch Area (Mayra Vein): The 2024 program was the first time the Mayra Vein has been tested with this the first drill to be conducted on the broader Cecilia project, which encompasses over a dozen identified targets. This hole was intended to test the northwest trending epithermal veins related with felsic dikes that potentially feed toward and likely cut the Puma Dome. These district-scale targets from the Mesa Ranch area have potential along strike for further exploration. Core drill hole CED24-011 intersected multiple vein zones, including an interval of 0.21 g/t Au over 2 meters starting at 281 meters. The gold-bearing interval featured quartz veining and oxides whose projection aligns with surface-sampled veins that extend over 700 meters along strike, further highlighting the potential and continued interest in these vein systems.
South Mesa Fault Zone (Mesa South): The final hole of the program focused on the extensive South Mesa Fault; a 10 km-long structure comparable to fault-controlled gold systems like those in Nevada’s Midas District. Drill hole CED24-012 intersected the fault at 110m and comprises a 5m thick interval of sheared brecciated rock which can be projected to surface and followed along strike. Surface samples returned gold values of over 2 g/t gold along the surface projection of this fault. Plans are in place for additional exploration of the Mesa South region for the first half of 2025, which will include tracking the Mesa fault’s continuity along strike.
The table below summarizes the locations and depths for the five holes completed in this first drilling round with Fortuna Mining.
The drilling location map below shows the 5 holes (3 drill pads) which correlate with the drill hole descriptive table above. Drill hole CED24-008 at Magallanes was deeper than any previous drilling. Figure 1 shows the drill traces as they intersected the down dip projection of the veins.
Figure 1– Geology map and location of the five 2024 drill holes shown in red. The straight and thin black lines near Magallanes are drill holes from previous campaigns. This new program stepped out to test the East Target (CED24-009) and the Mayras and South Mesa with single holes.
The cross-section figure below highlights hole CED24-010 from the drill program, which demonstrates the intersections of multiple vein structures. These structures are now interpreted to potentially extend over 800 meters vertically, suggesting they could be part of a significant epithermal system. Further exploration is planned for 2025, including an MT (Magneto-telluric) geophysical survey to refine our targeting of the system. Based on the results of these surveys, additional drilling may be undertaken to further evaluate the system’s potential. The Project includes numerous untested targets throughout the 60 km sq land package.
Figure 2: Cross section of the Magallanes Dome showing the volcanic units and structures
This drill program advanced the understanding of the Cecilia system’s geology, confirming significant low-sulfidation epithermal features in the Cerro Magallanes area. Data from the drilling suggests the mineralization system is tilted southeast, supported by surface mapping, geochemical analysis, and structural modeling.
The Cecilia Gold Project continues to demonstrate significant potential. Fortuna Mining’s technical expertise and funding have enabled systematic exploration, with the partnership potentially targeting a larger follow-up program in 2025. The drilling positively demonstrated scale and alterations consistent with a mineralized system worthy of more advanced drilling in addition to continued target testing.
Stock Option Grant:
On February 4th, 2025, the Company granted 1,450,000 incentive stock options (the “Options”) to certain Directors, Officers and Consultants of the Company. The Options are exercisable at $0.13 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a director vest in 3 equal instalments over 18 months. Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Drill core samples were sealed with zip straps and picked up by Bureau Veritas at site who took custody and drove samples to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas’ laboratory under their custody to Vancouver, BC, Canada and analyzed for 45 elements using their ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards, duplicates and blanks were inserted into the sample stream prior to being sent to the laboratory. The QA/QC analysis was completed with results fitting well with standards, blanks and duplicates not varying beyond normal statistical variance.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information 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.
Vancouver, British Columbia–(Newsfile Corp. – February 4, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) congratulates EMX board member, Mr. Chris Wright, on his confirmation as U.S. Secretary of Energy under President Donald Trump. Mr. Wright was confirmed as Secretary on February 3, 2025 in a bipartisan vote in the U.S. Senate and will now join the Cabinet of the United States in Washington, D.C. Mr. Wright is known for his innovations and entrepreneurial contributions to the energy sector, but also for his focus on humanitarian efforts such as co-founding the Bettering Human Lives Foundation. He has been a spirited contributor at EMX board meetings and management discussions. As a consequence of his confirmation, Mr. Wright will step down from the board of EMX. The Company sincerely thanks Mr. Wright for his contributions at EMX and is excited to observe his future role in leading and shaping the energy policy of the United States.
About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from its 2024 program at the Homestake Silver deposit and exploration drilling at the Homestake Ridge Property in BC’s Golden Triangle. The twenty (20) drillholes reported in this release have successfully expanded and infilled multiple high-grade gold and silver-rich zones within the Homestake Silver Deposit. Three (3) drillholes reported in this release tested exploration targets across various prospects on the property. Dolly Varden’s 2024 drill program consisted of 69 drill holes for a total of 31,726m, with 41 holes totalling 15,546 meters drilled at the Dolly Varden area and 28 holes totalling 16,181 meters drilled at Homestake Ridge area. Planning for the fully funded 2025 drill program is underway to build on the expanded silver and gold zones drilled in 2024.
Highlights from the Homestake Silver Deposit Area (*intervals shown are core length):
HR24-431: Step out to north: 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92 g/t Au and 58 g/t Ag over 3.74meters and including 91.1 g/t Au and 114 g/t Ag over 0.51 meters
HR24-433: Step out on new eastern lens: 35.05 g/t Au and 114 g/t Ag over 2.32 meters, including 74.7 g/t Au and 297 g/t Ag over 0.72 meters within 29.50 meters of 3.48 g/t Au and 13 g/t Ag
HR24-437: South end infill: 5.54 g/t Au and 97 g/t Ag over 10.20 meters, including 21.34 g/t Au and 384 g/t Ag over 2.40 meters, including 42.10 g/t Au and 1,135 g/t Ag over 0.77 meters
HR24-438: South end infill: 4.48 g/t Au and 16 g/t Ag over 14.33 meters, including 29.17 g/t Au and 59 g/t Ag over 1.62 meters
HR24-439: Step out 170 meter down dip: 1.56 g/t Au and 5 g/t Ag over 28.9 meters including 9.55 g/t Au and 32 g/t Ag over 0.50 meters and 12.15 g/t Au and 14 g/t Ag over 1.00 meter
HR24-448: infill hole, 91.20 meters grading 1.88 g/t Au and 3 g/t Ag, including 13.90 g/t Au and 6 g/t Ag over 0.74 m, 21.70 g/t Au and 5 g/t Ag over 0.57 meters and 36.10 g/t Au and 12 g/t Ag over 1.00 meter as well as silver dominant intercepts including 1.10 g/t Au and 786 g/t Ag over 0.91 meters and 0.31g/t Au and 571 g/t Ag over 0.82 meters
*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated **Assay results reported are uncapped
“Homestake Silver was originally considered a primary silver-rich deposit, however our drilling has continued to identify multiple gold-rich zones and remains wide open for expansion. Fully funded drilling in 2025 will target continued growth and further infill-drilling as a high-priority amongst the many targets in the Kitsault Valley trend,” said Shawn Khunkhun, CEO of Dolly Varden Silver.
2024 drilling at Homestake Silver targeted infill of Inferred Resources and Resource expansion drilling along strike to the north and south, as well as the down-dip. Complete drill results are presented in Table 1.
Highlight drill hole HR24-431 intersected 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92g/t Au and 58 g/t Ag over 3.74 meters. This is one of five drill holes targeting the northern extension of Homestake Silver deposit by testing the projected extension of the shallow angle plunge of wider, higher grade gold mineralization (Figure 3). HR24-431 targeted 180 meters down plunge from previously released drill hole HR23-410, that intersected 10.17 g/t Au over 6.61 meters, including 50.70 g/t Au over 0.62 meters (February 12, 2024, news release).
The other four drill holes testing the extent of the northern gold-rich zone all intersected a broad alteration zone with internal areas of strong veining and vein breccias. Drill hole HR24-433 intersected the new gold-rich zone to the east of the main Homestake Silver trend, grading 3.48 g/t Au and 13 g/t Ag over 29.50 meters and included higher grade vein intervals of 35.05 g/t Au and 114 g/t Ag over 2.32 meters (Figure 5). HR24-433 stepped out from previously released hole HR23-399, that intersected the new east gold lens grading 2.68 g/t Au and 20 g/t Ag over 57.70 meters and included higher grade vein intervals of 43.10 g/t Au and 66 g/t Ag over 1.01 meters and 40.33 g/t Au and 418 g/t Ag over 1.75 meters. (February 12, 2024, new release).
Figure 2. Drill hole HR24-431 north end of Homestake Silver deposit. Mineralization is hosted in multi phase vein and vein breccias with strong pyrite, chalcopyrite, galena and sphalerite mineralization and visible gold.
Drill hole HR24-425 was drilled at an orientation to test the continuity of the new style of quartz-carbonate veining with abundant visible gold intersected in previously released drill hole HR23-389 (February 12, 2024, news release). HR24-425 intersected individual veins grading 8.86 g/t Au over 0.84 meters and 5.78 g/t Au over 2.00 meters.
Drill holes HR24-426 and HR24-449 tested the possible connection of Homestake Main and Homestake Silver deposits with a 250 meter step-out along the projected trend from Homestake Silver. Both drill holes intersected alteration associated with the continuation lower grade anomalous Au that indicate the structural corridor is continuous between the deposits.
Eight drill holes were drilled as infill holes to target larger gaps in drillhole spacing to aid in geological interpretation and increase resource confidence. These holes intersected wide mineralized envelopes with internal high-grade zones of strong veining and vein breccias. Wider zones include: 5.54 g/t Au and 97 g/t Ag over 10.20 meters in HR24-437 and 4.48 g/t Au and 16 g/t Ag over 14.33 meters in HR24-438. Drill holes HR24-437 and HR24-438 targeted a section located 32 meters south of previously released drill hole HR23-407 which intersected 8.94 g/t Au and 191 g/t Ag over 10.72 meters length (January 16, 2024, News Release). Holes HR24-446 and HR24-448 were drilled off the same pad but at different azimuths (Figure 3). Hole HR24-446 intersected 1.71 g/t Au and 287 g/t Ag over 2.91 meters including 7.06 g/t Au, 1,580 g/t Ag, 2.25% Pb and 2.54% Zn over 0.5 meters.
Drill holes HR24-436 and HR24-439 targeted the down-dip extension of the known mineralization and are separated by 110 meters along strike (Figure 4). Drill hole HR24-439 was a 170-meter down dip test from the main mineralized plunge and indicates that mineralization continues at depth and remains open for expansion. The alteration and veining intersected in holes HR24-436 graded 1.09 g/t Au over 31.75 meters, including 11.10 g/t Au over 0.55m and HR24-439 graded 1.56 g/t Au over 28.90 meters including 12.15 g/t Au over 1.00 meters.
Figure 3. Plan View of the Homestake Silver and Main Deposits; 2024 drilling in bold lithology and red outline of mineralized zones.
The Homestake Ridge deposits are interpreted as structurally controlled, multi-phase epithermal vein stockwork and vein breccia system hosted in Jurassic Hazelton volcanic rocks. Mineralization consists of pyrite, +/-galena and sphalerite with visible gold in a breccia matrix within a silica breccia vein system (see Figure 2). The northwest orientation of the main Homestake structural trend appears to have numerous subparallel internal structures that are interpreted to form the controls for higher grade gold and silver shoots within a broader mineralized envelope at the Homestake Silver deposit. The main structural corridor dips steeply to the northeast at Homestake Main and rolls to vertical or steeply southwest at Homestake Silver.
Figure 5. Homestake Silver Cross Section (A-A’) with 2024 and previous drill holes.
Table 1. Assays from the 2024 Homestake Silver Deposit Drilling
Hole ID
From (m)
To (m)
Length (m)
Au** (g/t)
Ag (g/t)
Base Metals (%)
HR24-425
395.7
396.5
0.8
1.17
10
and
410
426.07
16.07
0.5
8
From 421.85-422.35m 1.38%Pb
including
416
419
3
1.13
8
and
450.45
454.16
3.71
2.51
3
including
451.18
452.02
0.84
8.86
6
and
459.25
476
16.75
1.38
2
including
464.5
466.5
2
1.82
2
including
472.5
474.5
2
5.78
3
HR24-426
627
628
1
1.75
3
HR24-427
560.5
561
0.5
0.37
2
HR24-428
322.58
323.18
0.6
0.68
10
and
723
734.3
11.3
0.32
NSV
including
725
727
2
1.05
NSV
HR24-429
635.6
636.1
0.5
1.97
NSV
and
697.9
706
8.1
0.48
NSV
including
700.3
700.8
0.5
2.24
8
0.73% Pb and 1.30% Zn
HR24-431
480.5
481
0.5
3.3
6
and
530.5
533.18
2.68
1.06
NSV
and
656.35
665.07
8.72
21.55
27
0.22% Cu, 2.36% Pb and 1.64% Zn
including
658.26
662
3.74
47.92
58
0.49% Cu, 5.24% Pb and 3.80% Zn
including
659.77
660.28
0.51
91.1
114
1.15% Cu, 8.00% Pb and 9.80% Zn
HR24-433
397
426.5
29.5
3.48
13
including
400.7
403
2.3
1.18
4
including
410.25
412.57
2.32
35.05
114
including
411.85
412.57
0.72
74.7
297
0.24% Cu, 0.51% Pb and 0.17% Zn
including
422.49
424.94
2.45
1.65
6
and
445.25
448.25
3
2.14
NSV
including
446.25
446.75
0.5
11.55
15
and
476
479.9
3.9
1.16
NSV
and
510
525
15
0.91
NSV
including
523.35
523.9
0.55
15.65
7
and
536.62
537.12
0.5
4.61
11
and
562
563
1
1.11
1
HR24-436
645.75
677.5
31.75
1.09
3
including
669.7
673.44
3.74
4.2
7
including
670.75
671.3
0.55
11.1
15
1.54% Zn
and
692.5
695.6
3.1
2.44
3
including
694
694.5
0.5
14.3
13
1.34% Pb and 1.79% Zn
HR24-437
285.36
296.34
10.98
0.88
12
including
290
293.72
3.72
1.88
19
and
308.41
335
26.59
1
12
including
316.32
317.45
1.13
5.62
37
including
325
325.5
0.5
8.76
13
and
342.35
352.55
10.2
5.54
97
including
345
347.4
2.4
21.34
384
including
345
345.77
0.77
42.1
1,135
2.28% Pb and 2.27% Zn
and
360.58
378.7
18.12
1.85
165
including
360.58
367.51
6.93
4.15
425
including
360.58
364
3.42
6.69
484
and
384
399.82
15.82
0.58
3
including
390
393.51
3.51
1.2
2
HR24-438
384
387.15
3.15
1.09
16
including
385.05
386.26
1.21
2.01
8
and
389.17
403.5
14.33
4.48
16
including
389.17
390.79
1.62
29.17
59
1.79% Pb and 2.40% Zn
including
393.58
394.21
0.63
9.81
11
and
417
432
15
0.96
1
including
425.2
426
0.8
8.62
4
HR24-439
690.85
719.75
28.9
1.56
5
including
693
694
1
3.31
1
including
699.99
700.49
0.5
9.55
32
2.16% Pb and 6.30% Zn
including
705.7
706.41
0.71
3.29
5
including
718.75
719.75
1
12.15
14
HR24-440
177.18
177.89
0.71
0.51
106
and
179.8
180.3
0.5
0.17
123
and
219.04
223.03
3.99
1.14
50
including
222
223.03
1.03
3.25
89
HR24-441
325.29
366.34
41.05
0.54
30
including
338
340
2
4.26
55
including
355
357
2
0.65
112
including
363
364.75
1.75
0.19
182
HR24-443
245.12
254.73
9.61
0.5
221
and
270.21
273.99
3.78
0.98
92
including
273.23
273.99
0.76
4.19
315
HR24-444
340.1
340.69
0.59
0.01
149
HR24-446
281.64
284.55
2.91
1.71
287
including
282.24
282.74
0.5
7.06
1,580
2.25% Pb and 2.54% Zn
and
316.24
344.1
27.86
0.8
3
including
323.05
323.77
0.72
3.47
3
including
337.53
338.6
1.07
7.35
5
HR24-447
567.11
567.73
0.62
0.17
150
HR24-448
292.04
294.19
2.15
0.54
423
including
292.04
292.95
0.91
1.1
786
including
297
297.82
0.82
0.31
571
and
317.26
342.29
25.03
0.7
15
including
322.12
322.72
0.6
4.2
107
and
353.15
444.35
91.2
1.88
3
including
359.14
359.88
0.74
13.9
6
including
382.92
394.2
11.28
2.57
3
including
405.67
406.24
0.57
21.7
5
including
411
412
1
36.1
12
including
413
422.59
9.59
2.59
7
HR24-449
429.99
431
1.01
1.23
1
HR24-451
507
510
3
1.23
1
and
516
522.74
6.74
0.63
1
including
521.5
522.74
1.24
2.22
1
and
540.15
541.07
0.92
3.39
1
and
552.74
554.86
2.12
3.82
2
including
554.05
554.86
0.81
9.49
3
and
567.27
571.83
4.56
0.83
1
and
578.8
586.25
7.45
0.23
12
From 580.40-582.60m: 6.68%Pb
*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths **Assay results reported are uncapped
Table 2. Drill Hole Collar Data for 2024 Homestake Ridge Drilling Reported in this release
Hole ID
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
HR24425
463346
6179256
901
178
-53
501
HR24426
463430
6179428
841
228
-48
774
HR24427
463553
6179233
832
227
-54
669
HR24428
463539
6179288
828
229
-52
792
HR24429
463553
6179233
832
228
-52
720
HR24430
462402
6179054
1333
260
-48
438
HR24431
463539
6179288
828
225
-45
750
HR24433
463553
6179233
832
228
-46
636
HR24436
463716
6179084
792
224
-45
750
HR24437
463672
6178796
835
226
-54
447
HR24438
463672
6178796
835
222
-60
585
HR24439
463716
6179084
792
238
-46
756
HR24440
463717
6178701
830
224
-52
393
HR24441
463717
6178701
830
227
-62
501
HR24443
463772
6178667
801
224
-52
450
HR24444
463772
6178667
801
221
-57
495.9
HR24446
463490
6179012
879
213
-55
600
HR24447
464035
6178571
734
231
-45
671
HR24448
463490
6179012
879
229
-60
594
HR24449
463430
6179428
841
222
-45
711
HR24450
464642
6176803
973
60
-55
306
HR24451
463539
6179288
828
224
-45
691.4
HR24452
468232
6167663
267
250
-60
63
Exploration Drilling
Three (3) early-stage exploration drill holes were completed on three different targets across the property testing for possible mineralization at depth on mapped structures. Complete results are presented in Table 3.
Table 3. Assays from the 2024 Homestake Ridge Exploration Drilling
Target
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Blue Ribbon
HR24430
190.00
195.38
5.38
0.53
NSV
including
192.65
193.45
0.80
1.83
NSV
and
318.21
321.02
2.81
0.64
NSV
including
318.21
319.05
0.84
1.21
NSV
and
325.00
325.75
0.75
0.76
NSV
Homeguard
HR24452
NSV
Vanguard Copper
HR22450
NSV
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen assays may be completed on very high grade samples.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2024 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) dated August 22, 2024 and management information circular dated August 22, 2024 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that the Company has, pursuant to Royalty Agreement (“Agreement”) announced on January 6, 2025 with Minera Pampa de Cobre S.A.C. (“MPC”), acquired the additional 1% Net Smelter Returns (“NSR”) royalty interest on the Chapi Copper Mine Property for US$7,000,000. MPC is owned indirectly by a privately held Canadian company, Quilla Resources Inc.
EMX now holds a 2% NSR royalty on the Chapi Copper Mine Property, for a total consideration of US$10,000,000. The Agreement includes a 2% NSR royalty on minerals produced from the approximately 26,000 hectare property (“Property Royalty”) owned by MPC, as well as a 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Mine processing facilities. The Agreement also includes a two-kilometer area of interest (“AOI”) around the Property Royalty area, and any property acquired by MPC within this AOI will also be subject to a 2% NSR royalty.
For more information on the Royalty Agreement and the Chapi Copper Mine Property, please refer to the Company’s news release published on January 6, 2025.
About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Kelowna, British Columbia–(Newsfile Corp. – February 3, 2025) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that it has started drilling as part of the $6 million 2025 winter exploration program on the PLN Project, with the initial focus of JR Zone expansion drilling on the PLN Property on an area where drillhole PLN24-176 returned 7.5m of 30.9% U3O8 including 4.5m of 50.1%U3O8 (see NR December 3, 2024). Initially, exploration drilling for a new zone of mineralization will begin on the continuation of the A1 structure around PLN24-152 – an exploration hole with the best geochemistry to date – where a 7m mineralized interval assayed up to 0.051% U3O8 (see NR July 30, 2024), approximately 2,800m south of the JR Zone.
Sam Hartmann, Vice President Exploration, commented:
“We are excited to get back to work and continue drill exploration at the PLN property; this will consist of JR Zone drilling in high reward areas where we stand to add value, starting with the exceptional high grade cored in PLN24-176. Exploration drilling will start by following up on high priority areas defined during the 2024 program based on radioactivity and geochemistry results. Due to our unique methodology of drilling by pre-casing drill holes with a sonic rig and the diamond drill following, the drilling sequence will be variable and go back-and forth between zone drilling and exploration. Meanwhile we are still waiting for assay results from 25 drill holes from the 2024 season including both JR Zone and exploration holes and will release those as they come available. These results will also be used for the planning of further exploration drilling.”
Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.
The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.
All depth measurements reported are down-hole and true thicknesses are yet to be determined.
About the Patterson Lake North Property:
The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Paladin’s Triple R deposit.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2 Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO
Diamcor Mining has received an investment from a Dubai-based diamond manufacturer that will allow it to advance various projects at its South African operation.
The mining company, which operates the Krone-Endora at Venetia project, will use the funds to expedite the processing of previously stockpiled oversized material, increase processing volume, and develop work programs it currently has underway, it said Monday. It will also further its bulk sampling.
Diamcor did not provide the name of the Dubai-based company but did note it was a “manufacturer and supplier of bridal and anniversary diamonds to the global market.” The miner also said the manufacturer would not receive shares in Diamcor in return for the funding.
“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years and the mutual vision our companies share on the merits of building a growing supply of gem-quality non-conflict natural rough diamonds for the luxury-jewelry sector,” said Diamcor CEO Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well-positioned and ready for this anticipated recovery.”
Vancouver, British Columbia–(Newsfile Corp. – January 28, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the execution of a definitive arrangement agreement with Riverside’s subsidiary, Blue Jay Gold Corp. (“Blue Jay”) in respect of the spin-out of its Pichette, Oakes and Duc projects (the “Ontario Gold Projects”), located in Ontario, Canada, to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the “Arrangement”) pursuant to the arrangement provisions of the Business Corporations Act (British Columbia) (the “Act”). Under the Arrangement, Riverside will distribute the common shares (each, a “Blue Jay Share”) of Blue Jay to Riverside’s shareholders. Should the arrangement become effective, Riverside shareholders would own shares in two public companies: Blue Jay, which will focus on the development of the Ontario Gold Projects, and Riverside, which will continue to build its diverse portfolio of projects in Canada, Mexico, and its royalty interests, while also generating new prospective mineral properties, as it has successfully done for the past 17 years.
Under the Arrangement, Riverside’s current shareholders will receive Blue Jay Shares by way of a share exchange, pursuant to which each existing common share of Riverside will be exchanged for one new common share of Riverside (each, a “New Riverside Share”) and 1/5th of a Blue Jay Share. Holders of Riverside options will be entitled to receive the same number of New Riverside Shares and 1/5th of that number of Blue Jay Shares. On completion of the Arrangement, Riverside shareholders and holders of Riverside options will maintain their interest in Riverside and will obtain a proportionate interest in Blue Jay.
The reorganization will be effected pursuant to s. 289 of the Act, and must be approved by the Supreme Court of British Columbia and by the affirmative vote of 66 2/3% of Riverside’s shareholders in attendance at a shareholders’ meeting to be held on March 31, 2025 (the “Meeting”). Riverside will apply for a listing of the Blue Jay Shares on the TSX Venture Exchange (“TSX-V”). These steps mirror the process Riverside followed when creating, spinning out, distributing, and listing Capitan Silver Corp. (TSXV: CAPT). Similarly, Riverside shareholders received shares in the new company while retaining their full ownership of Riverside shares.
Riverside expects that the Arrangement will increase shareholder value by allowing capital markets to ascribe value to the Ontario Gold Projects through Blue Jay Gold independently of the royalties and other properties held by Riverside. The spin-out will provide new and existing shareholders with more flexibility as to their specific investment strategy and risk profile. Riverside also believes that having a separately funded early-exploration business will accelerate development of the Ontario portfolio. Riverside will retain a 2% NSR on each of Blue Jay Gold’s properties.
“We are thrilled to announce the spin-out of Blue Jay Gold Corp., which represents another exciting milestone in Riverside’s strategy to unlock value for our shareholders,” stated Riverside Founder and CEO, John-Mark Staude. “Through this share distribution, Riverside shareholders will directly own a stake in Blue Jay Gold and its promising Ontario gold assets, while we retain a 2% uncapped Net Smelter Return (NSR) royalty. This transaction provides shareholders with direct benefits by granting them ownership of Blue Jay’s common shares, allowing them to participate in Blue Jay’s exploration upside and further development potential, while Riverside retains long-term exposure to the success of these high-grade gold projects.”
“This spin-out is another example of our commitment to create shareholder value through strategic initiatives. Following the success of our previous spin-out, Capitan Silver, Blue Jay Gold is well-positioned to advance exploration under the leadership of Dr. Geordie Mark. We are enthusiastic about Blue Jay’s potential to deliver strong results and further growth opportunities as an independent exploration company, while Riverside continues to focus on building its own pipeline of high-quality assets and partnerships.”
“As the founding CEO and Director of Blue Jay Gold, I am thrilled to lead the company in unlocking the potential of our exceptional gold assets,” commented Dr. Geordie Mark. “Ontario, with its rich mining history and supportive environment, provides the perfect foundation for discovery and growth. I am confident that Blue Jay will deliver significant value to our shareholders and make a meaningful impact on gold exploration in Canada.”
Completion of the Arrangement is subject to a number of conditions, including the following:
(a) Riverside shareholder approval at the Meeting;
(b) the approval of the Supreme Court of British Columbia;
(c) TSX-V approval for the Arrangement by Riverside;
(d) TSX-V approval for the listing of the Blue Jay Shares upon completion of the Arrangement; and
(e) completion by Blue Jay of a private placement to raise gross proceeds of up to $4,000,000.
Upon completion of the Arrangement, it is intended that the senior management of Blue Jay will consist of Geordie Mark, as the Chief Executive Officer, Robert Scott, as the Chief Financial Officer, and Freeman Smith, as the Vice-President, Exploration. Blue Jay’s board of directors will consist of Geordie Mark, John-Mark Staude (Chairman) and one or more additional directors. Changes and additions to the management team and board will be made as needed as the Ontario Gold Projects progress.
Additional details of the spin-out transaction will be included in an information circular to be mailed to shareholders of Riverside in February 2025 in connection with the Meeting. The Arrangement is expected to close in the first half of 2025.
Effective December 18, 2024, Blue Jay completed a private placement of 2,735,000 Blue Jay Shares at an issue price of $0.20 per Blue Jay Share for gross proceeds of $527,000.00. Following the private placement, Riverside holds 85.02% of the issued and outstanding Blue Jay Shares.
Certain directors and officers of Riverside participated in the private placement, subscribing for 300,000 Blue Jay Shares in the aggregate; each such subscription for the Blue Jay Shares being a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
Riverside welcomes inquiries, signing up at the Riverside website for more information and contacting the Company at the information below.
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.
