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Base Metals Junior Mining

DNI Metals Update – Cassation (Supreme Court of Madagascar) Finds Mr. Steven Goertz Guilty of Fraud and of Forgery of Official Government Documents

Toronto, Ontario–(Newsfile Corp. – July 27, 2022) – DNI Metals Inc. (OTC: SMNKF) (“DNI” or the “Company”).

Decision of Madagascar Supreme Court

On February 15, 2022, the Cassation (Supreme Court, “the Court”) of Madagascar held a trial (see Background to the case below). Neither Mr. Goertz nor his lawyers attended the trial.

On March 15, 2022, the Court rendered its decision, which cannot be appealed according to our counsel in Madagascar. The Court upheld the original sentencing of two years in prison for Mr. Goertz and he will be banned from staying in Madagascar for a period of three years after he has served his sentence. The Court also ordered Mr. Goertz to pay DNI 65,000,000 Ariary (sixty five million Ariary) in damages. All charges against Mr. Weir, that Mr. Goertz had brought forward to the police in Madagascar, were dropped in their entirety.

Mr. Goertz had already been removed as Gerant of DNIM Holding No.1 Sarl and DNI has applied to remove him as Gerant of DNI Metals Madagascar Sarl. Now that Mr. Goertz has been criminally convicted, he cannot serve as a Gerant of any company in Madagascar. His continued claims of having control of the DNI assets are baseless. DNI has also filed a civil lawsuit against Mr. Goertz for U$2.5 Million in Madagascar representing some of the losses that he has caused DNI and its shareholders.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221996000%253B2051500%253B2054000%253B18857489%253B18858989%2522%252C%2522hashtag%2522%253A%25221996000%253B2051500%253B2054000%253B18857489%253B18858989%2522%252C%2522wiki_topics%2522%253A%2522Madagascar%253BPrime_Minister_of_Madagascar%253BMalagasy_ariary%253BSentence_(law)%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522bd2dae3b-c38a-35d5-88a8-b41b316962a8%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Background

Under Malagasy law, if a person becomes aware of a crime it must be reported to the police. Therefore, Mr. Daniel Weir, Chairman of DNI Metals Inc. reported the fraud to the police. The fraud being, that the former DNI Madagascar team led, by Mr. Steven Goertz, had apparently forged government documents and misappropriated funds.

On February 19, 2020, a trial was held. On March 5, 2020, the judgement and sentencing were released to us. The court found Mr. Goertz guilty of fraud and forgery of official government documents. He was sentenced to two years in prison and Mr. Goertz will be banned from staying in Madagascar for a period of three years after he has served his sentence. The same court also ordered Mr. Goertz to pay DNI, 60,000,000 Ariary (sixty million Ariary) in damages.

On October 6, 2020, an opposition trial was held for Mr. Goertz. Since Mr. Goertz nor his lawyers attended the original trial in February of 2020, he was entitled to oppose the length of the sentencing but not the fraud and forgery charges themselves. The court upheld the original sentencing of two years in prison and Mr. Goertz will be banned from staying in Madagascar for a period of three years after he has served his sentence. The same court also ordered Mr. Goertz to pay DNI, 60,000,000 Ariary (sixty million Ariary) in damages, plus court costs of 5,000,000 Ariary (five million Ariary)

On February 12, 2021, an appeal trial was held. The court upheld the original sentencing of two years in prison and Mr. Goertz will be banned from staying in Madagascar for a period of three years after he has served his sentence. The same court also ordered Mr. Goertz to pay DNI, 65,000,000 Ariary (sixty million Ariary) in damages.

Status of Mining Permits in Madagascar

According to Mining Review Africa, in an article dated November 4, 2020;

“Since assuming office in January 2019, President Andry Rajoelina has made reform of the mining sector one of his top priorities, yet his approach has drawn criticism from industry players.”

“Approval of a new mining code by the government council on 20 November 2019, after no prior consultation with stakeholders, sent shock waves through the industry.”

“Although the provisions were rejected at a subsequent cabinet meeting on 27 November 2019, the government’s approach served to fuel distrust between Rajoelina’s administration and mining operators.”

“At the time, there were mounting frustrations within the government that big asset operators such as Rio Tinto, which had accumulated significant debts at QIT Madagascar Minerals, were under-performing.”

“Pressure from the World Bank and the Chamber of Mines eventually led the Ministry of Mines to initiate a proper consultation process involving all stakeholders.”

“The COVID-19 pandemic has stalled this review process.”

The government of Madagascar continues to have the issuing of all licenses, permits and title cards on hold as they are still considering changes to some of the mining laws.

On August 15, 2021, a new Mines Minister was appointed in Madagascar, he then resigned 4 days later on August 19, 2021. The Prime Minister of Madagascar temporary held the position of Mines Minister.

On March 16, 2022, a new Mines Minister, Oliver Rakotomalala, was appointed. DNI has congratulated Mr. Rakotomalala on his appointment. Mr. Rakotomalala understands the Canadian public markets as he previously worked for a company that was listed on the TSX Venture Exchange.

Cougar Metals

On September 24, 2018, a Settlement Agreement (the “Agreement“) was reached between DNI and Cougar Metals NL (“Cougar“) with respect to the DNI Vohitsara Property in Madagascar.

On July 23, 2019, DNI issued Cougar a default notice claiming that Cougar had breached the non-disparagement provision in the Agreement. Cougar requested an arbitration to dispute the default. A hearing was held on November 18, 2019, in Toronto.

On December 2, 2019, a decision was handed down by the arbitrator in which it was decided that;

  1. Cougar had breached the non-disparagement provisions of the Agreement;
  2. The DNI notice of breach was justified and the Cougar claim was dismissed;
  3. DNI was unable to prove that it had incurred financial damages as a result of the Cougar breach;
  4. DNI’s request for a set off against, or cancellation of, the payment to be made by DNI to Cougar under the Agreement was dismissed; and
  5. The original payment that was due to Cougar on July 25, 2019, was now due two days after the date of the decision and the regular payment schedule under the Agreement was to commence thereafter.

However, on November 5, 2019 (prior to the arbitrator decision dated December 2nd) DNI was forced to issue Cougar a second default notice for continued failure to observe the non-disparagement and confidentiality obligations of the Agreement. As applicable with the first default notice, the Agreement provides that DNI is entitled to suspend payment of the balance of the amount owing under the Agreement pending determination of any dispute regarding Cougar’s breach by an arbitrator.

On December 10, 2019, DNI was forced to issue Cougar a third default notice, a fourth notice was issued to Cougar on May 4, 2020, a fifth and sixth notice on March 16, 2021, a seventh notice on July 30, 2021, an eighth notice on October 18, 2021, and a ninth notice was issued on March 28, 2022.

Again, under the Agreement, DNI is entitled to suspend payment of the balance of the amount owing under the Agreement pending determination of any dispute regarding Cougar’s breach by an arbitrator.

According to a news Bulletin from the ASX, dated Oct 5, 2021, Cougar Metals NL (‘CGM’) was removed from the Official List from the commencement of trading on Tuesday, 5 October 2021 in accordance with Listing Rule 17.12. The securities of CGM have been suspended from trading for a continuous period of 2 years. The removal has been undertaken in accordance with the policy set out in section 3.4 of ASX Listing Rules Guidance Note 33 Removal of Entities from the ASX Official List.

For further information, contact:
DNI Metals Inc. – Dan Weir 416-720-0754
DanWeir@dnimetals.com
Also visit www.dnimetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132102

Categories
Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals Uncategorized

Metallic Minerals Announces Start of Drilling at La Plata Silver-Gold-Copper Project in Southwest Colorado, USA, and Extends Warrant Expiry

VANCOUVER, BC / ACCESSWIRE / July 27, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the start of its 2022 exploration and drill campaign at the La Plata silver-gold-copper project, located in southwest Colorado. This is the Company’s second diamond core drill program at La Plata and follows the establishment of a new NI 43-101 compliant mineral resource estimate announced earlier this year (see news release dated April 26, 2022).

The initial focus of the 2022 drill program is to extend the limits of previously drill-identified mineralization in the Allard resource area, which is expected to form the basis for updated and expanded resource estimate in 2023. The Company is in the process of completing a follow-up ground-based induced polarization geophysical survey designed to support resource expansion drilling, as well as to help refine and prioritize additional copper-silver-gold porphyry targets developed from the Company’s systematic exploration and the application of new technologies on the project.

La Plata Project Highlights

  • Inaugural National Instrument 43-101 (“NI 43-101”) compliant inferred mineral resource issued April 2022 for the Allard deposit totals 889 million pounds of copper and 15 million ounces of silver in a constrained model, with 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade1.
  • Drilling highlights at the Allard porphyry system include 395 m grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag and 0.017 g/t Au) in LP-03, and 854 m at 0.26% Cu, including 254 m grading 0.41% Cu, in drill hole LP-01. Both drill holes started and ended in mineralization.
  • Exploration drilling in 2022 is designed to expand limits of known mineralization in the Allard resource area and to test newly developed targets representing potential new copper-silver-gold porphyry mineralization.

Project History

The road accessible La Plata project covers 33 km2 approximately 20 km northeast of Mancos, Colorado within the historic high-grade La Plata mining district located at the southwest end of the prolific Colorado Mineral Belt. Mineralization is related to a large-scale precious metals-rich porphyry copper system with associated high-grade silver and gold epithermal vein and replacement deposits.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522wiki_topics%2522%253A%2522La_Plata%253BColorado%253BPorphyry_copper_deposit%253BCompany%253BMancos%252C_Colorado%253BNatural_resource%253BMineral%253BExploration%253BNational_Instrument_43-101%253BBorehole%253BPhelps_Dodge%253BGold_and_Copper%253BCopper%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25226fd0f08e-c132-3ea8-ac39-5f9770e1768b%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

The La Plata district has a long and rich history of mining with the first silver deposits discovered in the 1700s by Spanish explorers. High-grade silver and gold production has been documented from the 1870s through the early 1940s from vein structures, replacement bodies and breccia zones at over 90 individual mines and prospects3. From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored the district focusing on the significant potential for bulk-tonnage disseminated and stockwork hosted mineralization2. Freeport-McMoRan retained ownership of claims in the district until 2002 when they sold their holdings to the current underlying vendors during the lows of the last metal price cycle.

A total of 56 drill holes totaling 15,200 m have been drilled on the property since the 1950s which confirm the presence of large multi-phase porphyry system with significant silver, gold and copper. This large-scale mineralized system is associated with a 10 km2 strongly magnetic signature with intense hydrothermal alteration. Surrounding the central porphyry system is an associated high-grade silver and gold-rich epithermal system measuring at least 8 km by 2 km that hosts 56 identified vein, replacement, and breccia structures. Historical production from some of these high-grade structures included bonanza grades for silver and gold2.

In addition to the development of the inaugural resource estimate, exploration completed by Metallic Minerals at La Plata to date has included confirmation drilling, resampling of historic drill core and underground sampling, surface mapping, and soil sampling. The Company has also completed comprehensive geophysical surveys over the project including airborne resistivity and magnetics, ground-based induced polarization surveys, and analysis of multi-spectral remote sensing data to establish mineralized anomalies and domains for the various styles of mineralization. This work has identified 16 untested potential porphyry centers outside of the main Allard resource area, as well as developed targets with potential for significant high-grade epithermal silver and gold.

Warrant Extension

Metallic further announces that the Company has applied to the TSX Venture Exchange for approval to extend the expiry date on 9,587,500 warrants that were due to expire August 13, 2022 (the “Warrants”) to February 13, 2023. The Warrants were originally issued as part of a financing completed in August 2020 (see news release dated August 13, 2020) led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters including Red Cloud Securities Inc. and Mackie Research Capital Corporation. The warrants entitle the holder to acquire one common share at an exercise price of $0.60.

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and fourth largest in the world, announced the acquisition of Alexco in July 2022. Metallic recently announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields 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 Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Phone: 604-629-7800
Email: cackerman@mmgsilver.com
Toll Free: 1-888-570-4420

Footnotes

1) See Technical Report on the Inaugural Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Colorado, USA with an effective date of April 3, 2022. The Mineral Resource has been estimated in conformity with CIM Estimation of Mineral Resource and Mineral Reserve Best Practices Guidelines (2019) and current CIM Definition Standards – For Mineral Resources and Mineral Reserves (2014). The constrained Mineral Resources are reported at a base case cut-off grade of 0.25% CuEq, based on metal prices of $3.60/lb Cu and $22.50/oz Ag, assumed metal recoveries of 90% for Cu and 65% for Ag, a mining cost of US$5.30/t rock and processing and G&A cost of US$11.50/t mineralized material. (1) Cu Eq* calculations are based on 100% recovery of all metals using the same metal prices used for the resource calculation. All figures are rounded to reflect the relative accuracy of the estimate. The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

2) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949;

3) Bear Creek Mining (now Rio Tinto), Humble Oil (now Exxon) and Phelps Dodge (now Freeport-McMoRan) company reports.

Qualified Persons

The La Plata copper-silver project 2022 mineral resource estimate was prepared by Allan Armitage, P. Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of October 7, 2021. Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.

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 Metallic 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 Group Ten 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: Metallic Minerals Corp.



View source version on accesswire.com:
https://www.accesswire.com/709928/Metallic-Minerals-Announces-Start-of-Drilling-at-La-Plata-Silver-Gold-Copper-Project-in-Southwest-Colorado-USA-and-Extends-Warrant-Expiry

Categories
Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Drills Two Additional Long Intercepts in Favorable Breccia at the Apollo Target; Assay Results are Expected Shortly

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 of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date
Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date

Figure 4

Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted
Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted

TORONTO, July 26, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from three 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 where the Company recently announced the assay results for the discovery hole APC-1, which intersected 87.8 metres @ 2.49 g/t AuEq (see press release dated June 22, 2022). Apollo 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 Guayabales 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 being mobilized to site to begin the Phase II program at the Olympus target in August 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%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BMultiview_orthographic_projection%253BBreccia%253BColombia%253BBorehole%253BApollo%253BDrill%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25222c496b5d-b8c5-3406-ba24-d9db912a88bf%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Highlights (See Figures 1 – 4)

  • Drill holes APC-3 and APC-5 were drilled in opposite directions from two separate drill pads to the northeast and southwest respectively in order to test continuity of the mineralized breccia previously intersected in holes APC-1, APC-1W and APC-2 (see press releases dated April 27, 2022, June 22 and July 6, 2022). Both holes intersected at least 200 metres of mineralized breccia, from 276 metres downhole (200 metres vertical) in APC-3 and from 252.6 metres downhole (135 metres vertical) in APC-5. Core from these holes have been sent to the lab as a batch and assay results are expected in the near future.
  • Drill hole APC-4 targeted a newly generated breccia target located closely to the east of the main breccia at Apollo where a small historical artisanal mine is located. After passing through weathered and unmineralized material, the hole intersected 10 to15 metres of favorable breccia with overprinting CBM veins. Core logging from this hole is being finalized and half core will be sent to the assay lab shortly for analysis.
  • Visual observations and results to date from the first five holes drilled into the Apollo target confirm that the main mineralized breccia has a minimum strike length of 300 metres in a NE-SW direction and extends to at least 400 metres vertically below surface. The target remains open in all directions.
  • Mineralization is remarkably continuous along the axis of both intercepts and is hosted within a breccia sulphide matrix consisting of chalcopyrite (Cu), pyrite and pyrrhotite. The breccia clasts are all quartz diorite in composition and this hydrothermal system is clearly linked to a porphyry system. Additionally, overprinting carbonate base metal (“CBM”) veins flood the breccia matrix in various locations along the mineralized intervals. In drill hole APC-3, zones of sheeted CBM veins were outlined over intervals of 10 to 25 metres with visible sphalerite (Zn) and Galena (Pb) observed.
  • The Apollo target, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metre X 700 metre area and further drilling is planned from various locations to continue to expand the mineralized zone.
  • Apollo is road accessible all year-round and is situated within an elevation range of 1,800 to 2,000 metres above sea level. Additionally, an electrical substation is located less than one kilometre from the target area.

“The Apollo target continues to expand in size as we complete further drilling. These two new holes outline the robust nature of this mineralized breccia, and we now have three intercepts measuring more than 200 metres in length which are beginning to point to the discovery of a potentially large bulk-style mineralized system. We will continue to be aggressive in drilling Apollo at various orientations and dips to learn the geometry of the system and unlock the potential of this very exciting new discovery,” commented Ari Sussman, Executive Chairman.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/89419a7c-4e06-40e9-befb-bfb1005c0def

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/6ce1abed-600a-4ab5-bcef-95cfff710ede

Figure 3: Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date
https://www.globenewswire.com/NewsRoom/AttachmentNg/123695b8-cbb2-4c65-a949-01832831e7e2

Figure 4: Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted
https://www.globenewswire.com/NewsRoom/AttachmentNg/787cff99-ef52-4d16-afdd-9f46f606957a

About Collective Mining Ltd.

Twitter: @CollectiveMini1
Instagram: CollectiveMining
LinkedIn: Collective Mining
Facebook: Collective Mining Colombia

To see our latest corporate presentation, 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. Collective Mining currently holds options 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 identified. The Company is fortuitous to have 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 87.8 metres at 2.49 g/t AuEq at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 g/t AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 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.
Steve 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 Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Executes Agreement to Sell Two Norwegian Projects to Minco Silver

Vancouver, British Columbia–(Newsfile Corp. – July 20, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an exploration and option agreement for two projects in Norway with Minco Silver Corporation (TSX: MSV) (“Minco”). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.

The two projects optioned to Minco are the Sagvoll and Sulitjelma polymetallic projects in Norway (See Figure 1). The Sagvoll project hosts both volcanogenic massive sulfide (“VMS”) styles of mineralization and magmatic sulfide nickel-copper mineralization, and the Sulitjelma project is past producer of VMS polymetallic mineralization. The combination of base, battery and precious metals make this an especially compelling portfolio of projects.

Minco is a well-capitalized, Canadian publicly traded company that will work closely with EMX to advance the projects through the option period.

Commercial Terms Overview. All terms in Canadian Dollars. Pursuant to the agreement, Minco can acquire a 100% interest in either of the projects by a) making a $60,000 cash payment to EMX upon execution, and b) spending a minimum of $100,000 on each of the projects during a 12 month option period. Upon exercise of an option on either project, Minco will:

  • pay EMX $35,000 in cash, and issue to EMX a 2.5% NSR royalty interest in each project retained1,
  • issue to EMX the amount of shares equal to 2% of the issued and outstanding shares of Minco,
  • upon the 6th month anniversary of exercise of an option for each retained project, issue additional shares equal to 0.5% of the issued and outstanding shares of Minco and expend an additional $200,000 per project,
  • by the third anniversary of the execution of the agreements, expend an additional $700,000 per project retained,
  • beginning on the third anniversary of the execution of the agreements, make annual advance royalty payments to EMX, which will start at $25,000 per project per year and increase by 15% each year thereafter (but capped at an annual payment of $75,000 per project)2,
  • by the fifth anniversary of the execution of the agreement, expend a cumulative total of $4 million on the projects.
https://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%2522Norway%253BRoyalty_payment%253BSulitjelma%253BShares_outstanding%253BPublic_housing%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25229e29ce36-ee94-30fd-9a58-e3b54b013b8a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

EMX will also receive milestone payments of $250,000 on each retained project upon completion of a preliminary economic assessment (or “PEA”) and upon completion of a positive feasibility study (“PFS”). These milestone payments can be made in cash or in shares of Minco. Minco can also purchase 0.5% of any NSR royalty for $1 million by the sixth anniversary of the agreements.

Overviews of the projects. The Sagvoll and Sulitjelma polymetallic projects in Norway are located in the early Paleozoic VMS belt in Norway, which saw numerous districts and mines in operation from the 1600’s through the 1990’s.

Sagvoll Project, Caledonian VMS Belt, Southern Norway: The Sagvoll project in southern Norway consists of both VMS and magmatic nickel-copper sulfide mineralization developed along the Caledonian orogenic trend. This metallogenic region represents a tectonically displaced continuation of the Cambrian-Ordovician VMS belts in northeastern North America, which includes the Buchans and Bathurst VMS camps in eastern Canada, and also the Avoca VMS district in Ireland. As such, this represents one of the more prolific VMS belts in the world in terms of total production from its various mining districts, albeit now tectonically displaced and occurring along opposite sides of the Atlantic Ocean.

At Sagvoll, mineralization and historic mining areas are positioned along a 13 kilometer trend. Although multiple historic mines are present in the area, only limited historical drilling has taken place, most of which were drilled over 100 years ago. Many prospects and mining areas remain untested. The most recent work conducted in the district took place in 2006, when Xstrata PLC (“Xstrata”) flew airborne geophysical surveys and identified five prioritized nickel-copper targets and 11 VMS targets for further exploration and drill testing3. However, the follow-up exploration work was never completed.

EMX has identified several “walk-up” style drill targets based upon the historical and more recent Xstrata data, and will work closely with Minco to systematically explore the area.

Sulitjelma District, Central Norway: The Sulitjelma VMS district was discovered in 1858 and was mined continuously from 1891-1991. Sulitjelma was one of the last operating base metal mines in Norway. VMS style mineralization occurs along a trend that extends for over 20 kilometers and is developed along multiple stratigraphic horizons and structurally repeated sections. Metamorphism and deformation have caused thickening and repetition of mineralized horizons in the area. The district produced over 25 million tonnes, averaging 1.84% copper, 0.86% zinc, 10 grams per tonne silver and 0.25 grams per tonne gold4. Significant historical resources were left unmined at the time of closure in the early 1990’s.

The district has seen very little work since the mines closed. Recent (2014) airborne geophysical surveys highlighted multiple conductive anomalies along the main trend of mineralization that have not yet been drill tested, and EMX geologists have found outcropping expressions of VMS style mineralization, also along trend, that have not been developed or drill tested.

More information on the Projects can be found at www.EMXroyalty.com.

Nearby Mines and Deposits. The nearby mines and deposits discussed in this news release provide context for EMX’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar tonnages or grades of mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

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 the 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 Chief Executive Officer
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 reserve 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 March 31, 2022 and the year ended December 31, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “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.



Figure 1. Location map

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/131338_d5e2fe13d47a5a32_002full.jpg

1 By the sixth anniversary of the agreement, Minco can purchase 0.5% of EMX’s NSR royalty by paying EMX $1 million, thereby reducing the royalty to 2.0%.
2 If Minco retains all three projects, Minco will only be responsible for paying two of the advance royalty payments.
3 Internal Xstrata PLC internal report by Beaudoin for A/S Sulfidmalm Project 206, “Report of field work in the Skjarkerdalen area, central Norway: Summer 2006”. On file at Geological Survey of Norway (NGU).
4 Historical production data from the Geological Survey of Norway (NGU) Ore Database, Deposit Area 1841-024, updated Dec 18, 2017.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131338

Categories
Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Discovers a Broad Mineralized Zone and More High-Grade Gold and Silver Veins from Sampling at the Olympus Target; Drilling to Commence in August

Collective Mining Ltd.
Collective Mining Ltd.

Figure 1

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

Figure 2

Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins
Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins

Figure 3

Photos of High-Grade CBM Veins Reported Herein
Photos of High-Grade CBM Veins Reported Herein

TORONTO, July 19, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce the discovery of a potentially significant broad mineralized zone as well as additional high-grade gold and silver assay results from channel samples taken at the Olympus target (“Olympus”) at the Company’s 100% owned Guayabales project in Caldas, Colombia. A noteworthy discovery drill hole from the northern area of Olympus was announced by the Company in March 2022, with OLC-3 yielding 302 metres @ 1.11 g/t AuEq from near surface. Olympus is one of the eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the Guayabales 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, which is located approximately 800 metres south-southeast of Olympus. Furthermore, additional rigs have been secured to begin the Phase II program at Olympus with the first hole anticipated to commence drilling from underground in August 2022.

Highlights (See Tables 1-2 and Figures 1-3)

  • Continuous channel sampling, where possible, were taken by the Company along a historical crosscut covering a 182.45 metre horizontal width and hosting multiple mineralized veins, veinlets and structures within intensely altered porphyry and country rocks. This sampling has outlined a broad mineralized zone (“BMZ”) with assay results as follows:
    • 182.45 metres @ 1.15 g/t gold equivalent (true horizontal width)

Sampling from the eastern half of the crosscut was in oxidized material, which the Company believes may be underrepresenting the actual grade because previously announced chip channel sample assay results within vein material at slightly lower elevations directly below this area of the crosscut yielded materially higher grades. (See press releases dated May 12, 2022 and June 1, 2022)

Table 1: Crosscut Channel Sampling Assay Results

Crosscut SamplingFrom
(m)		To
(m)		Width
(m)		Au
(g/t)		Ag
(g/t)		AuEq
(g/t)*
 0.00182.45182.450.89231.15
Incl.7.7013.205.502.62563.23
 113.70120.006.302.73292.98
 130.15132.152.001.831964.34
 162.15167.054.902.44583.10
 177.40182.455.058.03698.55

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken continuously along the walls of the underground crosscuts. Approximately 8% of the total horizontal length could not be sampled due to timber support. Assay results are uncapped, and no cut-off grade has been applied.

  • Assay results of chip channel samples taken from veins located within historical, shallow underground working faces at Olympus, directly west of the BMZ zone, continue to confirm the presence of multiple, high-grade carbonate base metal (“CBM”) sheeted vein systems with results as follows:

Table 2: Chip Channel Sample Assay Results from Olympus

Channel
Sample		Au
(g/t)		Ag
(g/t)		AuEq
(g/t)*		True Width
(metres)
1118.792,359144.230.25
224.6216025.523.00
33.311825.571.40
433.2332835.930.50
523.6146628.630.90
69.716610.101.30
79.15469.311.00
83.17904.201.55
96.53697.121.00
104.021455.761.70

* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken across the working faces of historical and current artisanal mining drifts. Assay results are uncapped, and no cut-off grade has been applied. Assay results for base metals are still pending for all channel samples listed above.

  • The high-grade CBM veins outlined above are located directly west of the BMZ and collectively both areas outline a target zone measuring greater than 300 metres of width which remains open in all directions. Historical workings along veins to the northwest and southeast of the crosscut indicate a potential strike length to the systems of at least 500 metres which is open for expansion.
  • Drilling, underground sampling and surface mapping to date have expanded Olympus to a target area measuring more than 1,400 metres by 900 metres, which hosts over 50 artisanal mines with over 25 veins mapped from available exposures. The results outlined in this press release cover only the southwest portion of this target area. Previous drilling in the northern portion of the target area returned broad intercepts of up to 301.9 metres @ 1.11 g/t gold equivalent (see press release dated March 15, 2022). The Company believes that the probability is high that additional veins and BMZ zones will be discovered as exploration ramps up. To date only small portions of the target area have been drill tested or sampled and the Olympus target remains open to the east, west, northwest, south and at depth.
  • A phase II underground drill program will commence in August 2022 and is expected to ramp up in scale for the balance of the year as new drill chambers are constructed and additional rigs are added.

“The presence of both broad mineralized zones and high grade CBM veins at Olympus is exciting and highlights the potential for a combination of both bulk and selective mining scenarios in the future. To date we have only covered with drilling and sampling a few small windows within this large mineralized system. We look forward to drilling the southwest portion of the system beginning in August as the highest-grade samples found to date are from within this area,” commented Ari Sussman, Executive Chairman.

“On another front, we are now drilling with three rigs at the Apollo target and continue to intercept potentially significant lengths of mineralized breccia with overprinting CBM veins. We will provide further details in the coming weeks once new holes are completed and logged. Assay results from holes APC-1W and APC-2 at Apollo are expected shortly and will be announced once results have been received, compiled are interpreted by the Company.”

Figure 1: Plan View of the Guayabales Project Highlighting the Olympus Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/2f58ea15-a41e-4bb9-82c4-fdd5692a5322

Figure 2: Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins
https://www.globenewswire.com/NewsRoom/AttachmentNg/22aa4689-7f30-49d6-997e-81b182606357

Figure 3: Photos of High-Grade CBM Veins Reported Herein
https://www.globenewswire.com/NewsRoom/AttachmentNg/00651ec9-46bd-4198-841f-e237644b06ef

About Collective Mining Ltd.

Twitter: @CollectiveMini1
Instagram: CollectiveMining
LinkedIn: Collective Mining
Facebook: Collective Mining

To see our latest corporate presentation, 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 identified. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.1 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 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.
Steve 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 Collective Mining Energy Junior Mining

Collective Mining Announces Trading on the OTCQX and DTC Eligibility of its Common Shares in the United States

Collective Mining Ltd.
Collective Mining Ltd.

TORONTO, July 18, 2022 (GLOBE NEWSWIRE) —  Collective Mining Ltd. (TSXV: CNL) (OTCQX:CNLMF) (“Collective” or the “Company”) is pleased to announce that its common shares are now trading on the OTCQX® Best Market under the symbol “CNLMF”. Collective upgraded to the OTCQX from the Pink® market and its common shares are eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States. Collective’s common shares will continue to trade on the TSX Venture Exchange under the symbol “CNL”.

Upgrading to the OTCQX Market enables Collective to provide transparent trading for U.S. investors. Streamlined market standards enable the Company to utilize its TSX listing to make information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be “DTC eligible”.   DTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers, enabling the Company’s common shares to be traded over a wider selection of brokerage firms.

Ari Sussman, Collective’s Executive Chairman, commented, “We are excited to graduate from the Pink® market and begin trading on the OTCQX Market. This achievement, along with our DTC eligibility, will give a greater number of investors the opportunity to invest in Collective and enable participation in our exciting growth story.”

Nauth LPC acted as OTCQX sponsor.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

About Collective Mining Ltd.

To see our latest corporate presentation, 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. Collective 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 is fortuitous to have 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 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations)

Contact Information

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

FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements. 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.

This press release contains forward-looking information in a number of places, such as in statements relating to the benefits to be derived by the Company’s securities trading on the OTCQX and the eligibility of the Company’s securities on DTC. There can be no assurance that such statements will prove to be accurate, as Collective’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section in Collective’s Annual Information Form, which is available at www.collectivemining.com or on SEDAR.

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 Junior Mining

Diamcor Reports Initial Tender and Sale Results for Quarter and The Recovery of Two Gem Quality Special Diamonds

Diamcor Mining, Proven and Probable

KELOWNA, BC / ACCESSWIRE / July 14, 2022 / Diamcor Mining Inc. (TSX-V.DMI), (OTCQB-DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announces today the results of its first tender and sale of rough diamonds recovered from the processing of quarry material from the Company’s Krone-Endora at Venetia Project (the “Project”) in the Company’s fiscal second quarter (“Fiscal Q2”) ending September 30, 2022. In this initial tender, the Company sold a total of 1,939.81 carats of rough diamonds, generating gross revenues of USD $478,391.90, resulting in an average price of USD $246.62 per carat.

The Company is also pleased to report the recovery of two gem quality rough diamonds in the specials category, a 59.25 carat and a 21.85 carat diamond, which have been delivered and are expected to be tendered in August of 2022.

We are very pleased with the results of this first tender and sale early in the current quarter and continue to see strong demand for our rough diamonds given their overall quality”, stated Mr. Dean Taylor, Diamcor CEO. “Our efforts continue to focus on increasing processing volumes, and the recovery of two large gem quality rough diamonds in the specials category from our recently upgraded facilities at this point is yet further confirmation of the Project’s potential for large high value gem quality rough diamonds”.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) -757-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither 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.

SOURCE: Diamcor Mining Inc.

Categories
Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

(VIDEO) Silver Bullet Mines Corp. Produces Silver

Silver Bullet Mines, Proven and Probable

Burlington, Ontario–(Newsfile Corp. – July 13, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) is both pleased and proud to announce it has successfully produced silver and copper at its wholly owned 125 metric ton per day mill near Globe, Arizona.

“This production is the result of years of hard work, planning and dedication, and the incredible talents of the Arizona team,” said A. John Carter, SBMI’s CEO. “Over the past ten months, despite COVID-19 and global supply chain issues, we have spent less than three million dollars building this fully functional mill, a staggering feat. This is to my mind a one-of-a-kind experience.”

The mill produced its first silver concentrate from lower grade ore on July 12, 2022 and plans to soon pour its first dore bars. The Company intends to continue to use lower grade ore to optimize recovery efficiency and fine tune the various mill components. Higher grade ore will be introduced into the system once the mill is operating at higher rates of recovery. To date there have been no major setbacks and all components are operating within expected parameters.

Below is a photo of the first band of silver coming off the shaker table. The silver is visible on the left side of the photo. The secondary concentrate line is a silver/copper blend which will be bagged and sold. The initial concentrate and dore should be sold to various refineries, whose apparent demand should account for SBMI’s entire silver and copper production over the coming weeks.



Silver on the shaker table

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/130715_1981e644e49d7819_001full.jpg

A video of the shaker table operating can be found at the Company’s website, www.silverbulletmines.com.

The Buckeye Silver Mine is the source of the bulk sample ore for the mill. Both the mill and the Buckeye Mine are 100% controlled by SBMI. At the Buckeye, the field team is currently extracting ore from a vein at a location where it is approximately 12 feet wide. SBMI’s target is to have at least one month (5,000 tonnes) of raw ore available to the mill at all times, meaning management expects ore to be continually shipped from the Buckeye to the mill on a regular schedule.

Over the coming weeks management expects a steady stream of announcements as material milestones are met.

Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.

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

Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.

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 availability of skilled and unskilled labour; the presence and recoverability of mineralization; ongoing availability of infrastructure such as electrical, diesel and road access; 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, permitting and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; price increases related to supply chain issues; 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/130715

Categories
Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

(VIDEO) Metallic Minerals Initiates 2022 Exploration Program at Keno Silver Project in Yukon, Canada

Metallic Minerals, Proven and Probable

VANCOUVER, BC / ACCESSWIRE / July 13, 2022 / Metallic Minerals (TSXV:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) announces the commencement of field activities at the Company’s 100% owned, 166 square kilometer Keno Silver project, located in the historic Keno Hill silver district of Canada’s Yukon Territory. In July 2022, Hecla Mining Company (“Hecla”), the largest silver producer in the United States and third largest in the world1, announced the acquisition of neighboring Alexco Resource Corp.(“Alexco”), which holds the western portion of the district and mining and milling operations. Metallic Minerals owns the second largest land position in the prolific district covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits.

The 2022 exploration program is expected to consist of at least 3,000 meters of diamond core drilling, focused on resource definition drilling at multiple advanced-stage targets including Formo and Caribou deposits in the West Keno and Central Keno areas and the recently discovered Fox target area in East Keno, as well as step out drilling at several new discoveries. Detailed geophysical and soil surveys will also be conducted to aid in refinement and prioritization of reconnaissance drill targets in several untested target areas. Additionally, for the first time, the district will be flown for a LIDAR survey, which will provide greater precision in survey and topographic control while aiding in lineament detection in the search for new Keno-style high-grade silver discoveries.

Metallic Minerals President, Scott Petsel, commented: “We are excited to be initiating our 2022 field campaign at the Keno Silver project, particularly in the wake of the recently announced acquisition of our neighbors at Alexco by Hecla. This is a re-energizing catalyst for the Keno Hill silver district and highlights the quality of the existing reserves and resources and the exploration potential in one of the world’s highest grade silver producing regions that has produced over 200 million ounces of ultra-high-grade silver. We have enjoyed a close and productive working relationship with the team at Alexco and are excited to see the mining operation reach its full potential.”

Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture

“Metallic Minerals is on the cusp of transforming our own story in the Keno silver district as this year’s drill program is focused on advancing existing mineral inventories to formal NI 43-101 resources at our most advanced targets. In addition, we expect to announce commencement of field activity at our La Plata silver-gold-copper project in Colorado shortly, as well as updates with regard to planned activities on our Klondike alluvial gold royalty portfolio.”

Private Placement

Metallic has completed and closed its second non-brokered private placement financing for total proceeds raised of $4,649,820. Proceeds from the two private placements will be used toward eligible Canadian exploration expenses, within the meaning of the Income Tax Act (Canada) and for general working capital.

The second private placement consisted of the issuance of 1,471,000 units at a price of $0.42 per unit for aggregate proceeds of $617,820. Each unit consisted of one common share and one-half purchase warrant where each whole warrant is exercisable into a common share for 30 months at a price of $0.50. A total of 846,000 units were sold on a flow-through basis with the common share comprising the units being issued as a flow-through common share.

The common shares comprising the units are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law. The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

An officer of the company participated in the private placement for a total of 25,000 units. The participation by the insider in the private placement is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued, nor the consideration being paid exceeds 25% of the Company’s market capitalization.

About the Keno Silver Project

Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla announced the acquisition of Alexco Resource Corp, which holds the western portion of the district and mining and milling operations. Metallic Minerals’ Keno Silver project is adjacent and contiguous, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced three targets in the district from discovery to expansion drilling with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 new priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.

Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture

2022 Drilling at Fox Target at East Keno

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and fourth largest in the world, announced the acquisition of Alexco in July 2022. Metallic recently announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields 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 Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Email: cackerman@mmgsilver.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420

  1. See Hecla news release dated July 5, 2022, entitled, “Hecla Acquires Alexco Resource” and Hecla Mining website disclosure: https://www.hecla.com/investors/why-hecla

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 Metallic 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 Group Ten 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: Metallic Minerals Corp.

Categories
Base Metals Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Announces Settlement of Debt

Burlington, Ontario–(Newsfile Corp. – July 12, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) announces it has settled a payable to a significant shareholder of the Company in the amount of $70,800 by the issuance of 236,000 common shares at $0.30 cents per share. This shareholder elected to settle the payable by taking equity rather than cash, a strong sign of confidence in SBMI’s business plan.

Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.

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

Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.

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 availability of skilled and unskilled labour; the presence and recoverability of mineralization; ongoing availability of infrastructure such as electrical, diesel and road access; 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, permitting and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; price increases related to supply chain issues; 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