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Lion One Announces Mine Ventilation Upgrade, Reports Preliminary Gold Results

Post author By admin
Post date April 17, 2025

North Vancouver, British Columbia–(Newsfile Corp. – April 17, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to provide an operations update and announce the completion of the raise bore project and mine ventilation upgrade at the Company’s 100% owned Tuvatu Gold Mine in Fiji, and reports preliminary quarterly gold production from the Tuvatu Gold Mine for Q1 CY2025.

The mine ventilation upgrade is a major milestone for the Company as it enables the Company to develop more levels underground and to put more mineralized headings into production. Airflow within the mine has improved dramatically and ventilation is now sufficient for development to proceed to the high-grade Zone 500 feeder zone, which is where the company drilled 75.9 m of 20.86 g/t gold and 54.9 m of 12.22 g/t gold. Together with the new mine equipment en route to Fiji and the development of the Company’s first shrinkage stope, the mine ventilation upgrade will increase mine development at Tuvatu in advance of the next stage of mill expansion to 600-700 TPD.

Operations Update

Summary:

Raise bore development and ventilation circuit upgrade complete
Ventilation is now sufficient for development to proceed to the high-grade Zone 500
New levels and mineral headings are now being developed as a result of improved ventilation
Record 13 active headings under development at Tuvatu with more to be added
New mine equipment en route to Fiji to further accelerate mine development
First shrinkage stope under development and advancing well

The Company is currently operating at the 300 TPD pilot plant phase with expansion to the 600-700 TPD phase of operations anticipated in 2026. In advance of expansion the Company is completing critical mine infrastructure projects, including the raise bore and primary ventilation upgrade project.

Development and commissioning of the raise bore and primary ventilation circuit is now complete. Airflow within the mine has improved dramatically. Windspeed measured at the main portal is now twice as fast as prior to the completion of the new circuit and mining operations can proceed more efficiently as a result. In recent months underground development has been restricted to near-surface levels due to lack of sufficient ventilation to advance deeper into the deposit. With the primary ventilation circuit now complete, the Tuvatu mine has sufficient ventilation for underground development to proceed down to the high-grade Zone 500 feeder zone, which is a major priority for the Company. New development and mineralized headings can now immediately be advanced to deeper levels of the mine and new sources of mineralized material can be developed and put into production. With the recent addition of new mining equipment and staff, a total of 13 active headings are now being advanced at Tuvatu, which is a new record for the Company. More headings will be added as additional mining equipment arrives on site in the coming weeks and months as mine development continues to accelerate.

A shrinkage stope is now actively being developed along the Ura1 lode at Tuvatu where bonanza grade gold results, such as 142.66 g/t gold over 2.2 m, have been returned from drilling. The shrinkage stope is anticipated to be approximately 100 m long, 30 m tall, and 1.5 m wide, and is designed to minimize dilution and maximize gold grades delivered to the mill. During development of the stope, the Ura1 lode has shown to be continuous, and sampling has returned consistent high grades across the structure. The Ura1 shrinkage stope is anticipated to come online in May and June 2025 and will be the first of a series of shrinkage stopes to be developed at Tuvatu.

Figure 1. Example Ura1 Shrinkage Stope Development. Example shrinkage stope development rise face showing the Ura1 lode at the center of the rise, with the Ura lode identified with red paint and sample markers identified in pink paint. Width of the image is approximately 1.6 m.

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Preliminary Quarterly Gold Results

Summary:

3,555 oz of gold recovered
27,841 tonnes milled
4.9 g/t gold average head grade
80.4% recovery

Lion One Metals recovered 3,555 oz of gold during the quarter ending March 31, 2025. This represents a 155% increase in production year-over-year from the same quarter in 2024, during which 1,394 oz of gold was produced while the processing plant was undergoing commissioning. This is a decrease in production quarter-over-quarter from the 4300 oz of gold produced during the prior quarter ending December 31, 2024.

The decrease in production from the prior quarter is due primarily to increased downtime related to both scheduled and unscheduled mill maintenance and repairs during January and February 2025. During this period there were 6 days of planned mill maintenance shutdown to complete a mill liner replacement, and a secondary mill pinion replacement, as well as unscheduled downtime and reduced mill throughput as a result of heavy rains. Mill throughput typically exceeds design levels and averages approximately 340 TPD but was reduced to an average of 280 TPD in January and February. Production returned to normal levels in March once both the scheduled and weather-related maintenance procedures were complete. Modifications to the mill are currently underway to minimize the impact of heavy rains and to improve water management within the pilot plant and reduce the seasonal effect of heavy rains.

Figure 2. Tuvatu Monthly Gold Production, October 2024 to March 2025. Gold production dipped in January and February 2025 due to scheduled mill maintenance shutdowns as well as to unscheduled maintenance and reduced mill throughput due to heavy rains. Production returned to baseline levels in March 2025.

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Qualified Persons Statement

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

Lion One Laboratories / QAQC

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

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

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

On behalf of the Board of Directors,
Walter Berukoff, President, Chairman of the Board

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248870

Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Expands the Initial High-Grade Sub-Zone at Apollo by Intersecting 114.50 Metres at 5.00 g/t AuEq Within 263.85 Metres at 3.10 g/t AuEq

Post author By admin
Post date April 15, 2025

Drill hole APC104-D6 extended the first high-grade sub-zone drill tested by the Company to date by up to 70 metres vertically by intersecting 114.50 metres @ 5.00 g/t gold equivalent within 263.85 metres at 3.10 g/t gold equivalent. Hole APC104-D6 was drilled below previously announced holes APC104-D2 and APC104-D5, which intercepted 181.35 metres @ 5.38 g/t AuEq** and 106.35 metres at 9.05 g/t AuEq**, respectively.
Drill hole APC104-D7A clipped the eastern edge of the same sub-zone, intercepting 30.25 metres @ 5.10 g/t gold equivalent within 137.70 metres @ 2.94 g/t gold equivalent. Results to date from the new orthogonal drilling program into the first high grade sub-zone have now outlined dimensions of 180 metres of strike, 70 metres in thickness and over 70 metres vertical and is still open in most directions for future expansion.
The Company has modeled eleven high-grade sub-zones target areas within the top 1,000 vertical metres of Apollo and plans to drill test each of them over the course of 2025. The high-grade sub-zones have the potential to boost the overall grade and mineral inventory of the Apollo system within the existing block model.
Mother hole APC-106D was drilled outside the Apollo system to the north and intersected multiple, shallow and high-grade gold-silver veins with results including 1.65 metres @ 20.81 g/t gold equivalent and 1.90 metres @ 16.29 g/t gold equivalent. Drilling of the Northern Gold-Silver Vein Zone to the north of Apollo has now outlined a 350-metre-long zone of high-grade porphyry related veins (“CBM veins”).

TORONTO, April 15, 2025 /CNW/ – Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) (“Collective” or the “Company”) is pleased to announce assay results for three holes drilled into the Apollo system (“Apollo”). Two of the holes were designed to test the potential extension of the recently discovered first high-grade sub-zone, while the third hole was drilled into the early-stage Northern Gold-Silver Vein Zone located above and to the north of the brecciated Apollo system. Apollo is the most advanced discovery made to date within the Company’s multi-target Guayabales Project in Caldas, Colombia.

The Company currently has eight drill rigs operating as part of its fully funded 70,000-metre drill program for 2025 with five rigs drilling at Apollo, one at the Tower target and two rigs at the San Antonio Project.

The 2025 objectives for the portion of the drilling program targeting the Apollo system are:

Drill test newly modeled high-grade sub-zone targets scattered throughout the top 1,000 vertical metres from surface to improve the grade profile (and size) of the system.
Grow the overall dimensions of the system by expanding vertically and laterally the recently discovered high-grade Ramp Zone.
Test the northern extension potential of Apollo at shallower elevations.
Expand and define the area of outcropping/shallow mineralization and test many drilling gaps within the internal block model from surface to a depth of 150 metres.

Approximately 115,000 metres of diamond drilling has been completed to date at the Guayabales Project, including 78,000 metres at Apollo. There are currently thirteen drill holes awaiting assays with results for most of these holes expected prior to the end of Q2 2025.

Ari Sussman, Executive Chairman commented: “Drilling continues to successfully intercept high-grade gold in the first of eleven potential high-grade sub-zones modelled by our technical team within the top 1,000 vertical metres of the Apollo system. The bonus of drilling the sub-zones is that if successful in finding more gold than previous modeled, then it should raise the overall grade of the system within the existing modelled envelope. If drilling continues to intersect high grades as new sub-zone targets are tested, the impact on the block model grade and inventory could be materially significant. Additionally, drilling at the poorly drilled Northern Gold-Silver Vein Zone has expanded the system to 350 metres in an east-west direction and it remains open in all directions for growth. Any metal defined in this zone is a bonus as it is additional to the main Apollo system.”

To watch a video of David Reading, Special Advisor to the Company and QP under NI43-101 explain today’s results please click on the link here.

Details (see Table 1 and Figures 1-5)

APC104-D6, collared from mother hole APC-104D, was drilled in a westerly direction below previously announced hole APC104-D2 and was designed to extend the first modelled, high-grade sub-zone by 70 metres vertically. The hole intercepted continuous mineralization over 263.85 metres which included the high-grade sub-zone and multiple zones of high-grade CBM veinlets with assay results as follows:
- 263.85 metres @ 3.10 g/t gold equivalent from 71.65 metres including:
  - 114.50 metres @ 5.00 g/t gold equivalent from 82.00 metres
  - 31.75 metres @ 3.10 g/t gold equivalent from 303.75 metres
- 21.95 metres @ 3.08 g/t gold equivalent from 373.55 metres
- 17.15 metres @ 2.60 g/t gold equivalent from 444.80 metres
APC104-D7A, which is the final hole collared from mother hole APC-104D, was also drilled in a southwest direction on the edge of the Apollo system and clipped the eastern margin of the high-grade sub-zone with assay results as follows:
- 137.70 metres @ 2.94 g/t gold equivalent from 160.90 metres including:
  - 30.25 metres @ 5.10 g/t gold equivalent from 172.15 metres

The pilot drilling program designed to test the first modelled sub-zone has now defined an area of 180 metres of strike, by 70 metres in thickness and by 70 metres vertical with continuous high-grade mineralization. This sub-zone is still open in almost all directions and will be expanded as part of the current ongoing drill program. The Company also plans to drill at least eleven additional potential sub-zone targets in 2025 identified throughout top 1,000 vertical metres of the Apollo system. As a reminder, at a depth below 1,000 metres from surface, Apollo transitions in the Ramp Zone, which is a different deposit and style of mineralization.

APC-106D was drilled to the south from newly constructed Pad19 located north and outside the Apollo system. At 350 metres downhole, the alteration began to markedly increase and then the hole cut a zone of east-west trending, high-grade CBM veins. These new intercepts are a material extension to the high-grade Northern Gold-Silver Vein Zone, which now measures approximately 350 metres in strike and remains open in all directions for expansion. Assay results for hole APC-106D are as follows:
- 1.65 metres @ 20.81 g/t gold equivalent from 353.20 metres
- 1.90 metres @ 16.29 g/t gold equivalent from 388.30 metres
- 18.25 metres @ 2.10 g/t gold equivalent from 732.95 metres including:
  - 5.85 metres @ 4.88 g/t gold equivalent from 732.95 metres

As a reminder, high-grade gold-silver veins intercepted previously in 2022 in the Northern Gold-Silver Vein Zone assayed as follows:

10.30 metres @ 10.83 g/t gold equivalent (OLCC-4)**
1.30 metres @ 74.91 g/t gold equivalent (OLCC-3)**
1.30 metres @ 42.31 g/t gold equivalent (OLCC-3)**

The intersection of shallow CBM veins in the northern portion of the Apollo system has positive implications for the presence of brecciated porphyry at depth as this zoning of mineralization is seen further south at Apollo. Following completion of the mother hole, directional drilling is currently in progress to test for a northern extension of the Apollo system at depth where the system remains open for expansion.

Table 1: Assays Results for Drill Holes APC104-D6, APC104-D7A and APC-106D

Hole #	From (m)	To (m)	Length (m)	Au g/t	Ag g/t	Cu %	Zn %	AuEq g/t*
APC104-D6	71.65	335.50	263.85	2.52	37	0.09	0.15	3.10
Incl.	82.00	196.50	114.50	4.19	53	0.15	0.15	5.00
& Incl-	303.75	335.50	31.75	2.24	58	0.06	0.33	3.10
and	373.55	395.50	21.95	2.96	10	0.03	0.11	3.08
and	444.80	461.95	17.15	2.29	22	0.06	0.04	2.60
APC104-D7A	160.90	298.60	137.70	1.87	61	0.22	0.14	2.94
Incl.	172.15	202.40	30.25	4.28	50	0.14	0.32	5.10
APC-106D	353.20	354.85	1.65	19.78	122	0.03	0.06	20.81
and	388.30	390.20	1.90	8.66	600	0.05	0.44	16.29
and	732.95	751.20	18.25	1.92	12	0.03	0.13	2.10
Incl.	732.95	738.80	5.85	4.50	27	0.04	0.35	4.88

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (Zn (%) x 0.43 x 0.85) utilizing metal prices of Ag – US$30/oz, Zn – US$1.25/lb, Cu – US$4.2/lb and Au – US$2,000/oz and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 85% for Zn. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. The recovery rate assumption for zinc is speculative as limited metallurgical work has been completed to date. True widths are unknown, and grades are uncut.

** See press release dated January 15, 2025, February 24, 2025, March 15, 2022 and May 9, 2022 for AuEq calculations.

Figure 1: Plan View of the Apollo System Highlighting Drill Holes in this Release (CNW Group/Collective Mining Ltd.)

Figure 2: Apollo System: High-Grade Over 1,200 Metres from Surface (CNW Group/Collective Mining Ltd.)

Figure 3: Section B – B’ Outlining the High-Grade Sub-Zone Intersected in Drill Hole APC104-D6 (CNW Group/Collective Mining Ltd.)

Figure 4: Drill Core Tray Photo Highlighting a Portion of APC104-D6 (CNW Group/Collective Mining Ltd.)

Figure 5: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company’s objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, expand the Trap system and drill a series of newly generated targets including Tower and X.

Management and insiders own approximately 33.4% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the NYSE American and TSX under the trading symbol “CNL” and on the FSE under the trading symbol “GG1”.

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

Samples were cut by Company personnel at Collective Mining’s core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole.

Core samples have been prepared and analyzed at ALS 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.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski73) on X

Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities legislation (collectively, “forward-looking statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: anticipated use of proceeds from the Offering and the exercise of Warrants; the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: planed use of proceeds from the Offering and the exercise of the Warrants; risks related to the speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

Collective Mining Ltd. Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

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Base Metals Blog Junior Mining Precious Metals

The Return of Exter’s Inverted Pyramid

Post author By admin
Post date April 14, 2025

Is Gold Still Underpriced?

We believe the next leg up for gold will be driven by a loss of confidence in mainstream positioning in equities, high-yield bonds and private equity. Concerns over tariffs may well have become a contributing factor to the gathering deflation of the financial asset bubble, but overanalyzing their possible impact obscures focus on market forces that were in motion long before “Liberation Day.”

The run to record gold bullion prices in 2024 and year-to-date 2025 has been mainly driven by official sector investment motivated in part by the gradual disintegration of the U.S. dollar-based system of international trade and the shakeup of the geopolitical landscape. Official sector demand has been augmented by record Asian and especially Chinese investment buying. These developments have been all but ignored by American and European retail and institutional investors captivated instead by overvalued technology and artificial intelligence (AI) stocks. We believe investor exposure to gold, by several measures, is at historic lows.

As capital flees overvalued assets, gold’s scarcity and safe-haven appeal could drive its price higher.

The essence of a bear market¹ is overvaluation and incorrect positioning. The shift in psychology that results from bear market losses may lead to a search for investment alternatives. We believe safe-haven assets, including gold, will capture resulting capital flows.

Gold’s capacity to absorb new inflows is limited by its tiny “float”² relative to the scale of financial markets denominated in U.S. dollars. Gold-backed exchange traded funds (ETFs) are likely recipients of the shift in capital flows we anticipate. Expanded flows into most gold ETFs must be accommodated by the purchase of physical metal. The migration of capital to gold and possibly other monetary metals could result in a price that is multiples of the current price of $3,000 per ounce.

We believe gold mining equities remain significantly undervalued and stand to benefit from further advances in metal prices. Mining profitability is leveraged to changes in gold prices, which move more quickly than costs. Therefore, in our view, mining shares offer significant torque potential relative to physical gold.

The Equity Bear Market is Not Caused by Tariffs Alone

Even as the Trump administration walks back its stance on tariffs, the contraction in equity market valuations likely has further to run. On April 6, 2025, veteran market analyst and technician Stan Weinstein stated:

“While many traders and investors incorrectly think that this devastating selloff is simply the result of ‘the tariffs,’ as we showed you in detail in last weekend’s update, ‘termites’ have been at work, weakening the market’s technical structure, for the past few months, even as several of the indexes (such as the S&P 500 Index³) were making new highs (and this was being ‘camouflaged’ by the narrow strength of the ‘Magnificent 7,’⁴just as was the case in late 1999-early 2000, before the internet bubble ‘popped,’ and in 1973 when the ‘Nifty Fifty’ ⁵of that era was ‘all the rage’ – but, in each and every case, the Advance-Decline Line⁶ had topped out well before the market reached those respective peaks). So what is really happening is that the upsetting fundamental ‘news’ is colliding with an already-weakened technical structure that was getting ready to collapse (so it most definitely couldn’t handle the added ‘worries’) – and, very simply, that ‘perfect storm’ combination has resulted in this ‘crash’!”

Market strategist Michael Belkin, who has correctly called major turning points in the stock market over many decades, noted in his report on March 24, 2025, that the fuel for a market decline could be seen in the record level of margin debt.

“The January margin debt level was $937 billion, equal to the Oct 2021 peak of $936 billion…. Margin debt is a great indication of animal spirits… It’s not what people think about the market (like the AAII Individual Investor Sentiment Index), it’s a measure of how much stock market risk they are willing to take on with leverage.”

You can access more insights from Michael Belkin by listening to our Sprott Radio podcast, The New Sector Rotation.

Carter Worth, a savvy market analyst and eponym of Worth Charting, noted in an April 6, 2025, commentary that the typical stock in the Russell 3000 Index, representing 98% of all investible capital in U.S. equity markets, peaked in October well before “tariffs” was on the tip of everyone’s tongue. Roughly 50% of the stocks in that Index are down 35% or more (as of March 31, 2025), giving the lie to Treasury Secretary Bessent’s recent comment that the market carnage was confined mainly to the “Magnificent 7” names. The bear market is pervasive throughout all market sectors based on Worth’s analysis.

In our opinion, the current generation of investors has never experienced a genuine bear market. The notion that a bear market is simply a decline of 20% or more from the trading peak is overly superficial. The bear market of the 1970s was a grinding multi-year affair whose duration was sufficient to suffocate speculative psychology well into the 1980s.

It remains to be seen whether the current bear market will resemble one of the 1970s or of the post-2000 variety, which were mostly ended by Federal Reserve bailouts. History demonstrates that either outcome will be positive for gold.

Gold Positioning by Western Investors is Minimal

As of year-end 2024, financial advisors recorded the lowest exposure to gold since 2019.

Figure 1: Financial Advisor Allocations to Gold

Source: BofA Global Research. Data as of 2/26/2024.

Since 2020, holdings of gold-backed ETFs have declined by 585 metric tonnes, or 17.51% of total assets at year-end 2020. In 2024, holdings rose by 159 tonnes, leaving aggregate AUM by weight nearly 20% below the 2020 peak.

Figure 2: Gold-Backed ETF Holdings Have Declined Since 2019 Peak

Source: Meridian Macro Research. Data as of 3/31/2025.

Figure 3. Total World Gold ETFs, Change in Total Holdings by Year

Source: Meridian Macro Research. Data as of 3/31/2025.

Gold is Still Contrarian

Gold, long a Wall Street pariah, has only recently become popular as major investment firms jump on the bandwagon to make gold price forecasts undreamed of only six months ago. Bullion’s newfound popularity may have resulted in a short-term overbought condition, but we believe it has been remedied by the market meltdown.

On Saturday, April 5, 2025, the Financial Times reported that hedge funds had been hit with the largest margin calls since the 2020 COVID crisis. Gold may be temporarily caught up in this “sell everything” scenario. We believe gold’s checkback will prove to be temporary and will serve to correct recent overbought sentiment readings.

A bullish outlook⁷ for gold is still contrarian. The longer-term consensus forecast among investment firms polled by Bloomberg is for gold prices to decline steeply to $2,100 in 2028 (see Figure 4). We regard this groupthink as a positive sign that strategists see no appeal for metal exposure other than a tactical one beyond the very short term. Another way to put this bearish gold forecast into perspective is the unanimity of bullish calls from leading brokerage firms for the stock market at the beginning of 2025. Example forecasts for the S&P 500 Index include Deutsche Bank (7100), BMO and HSBC (6700), and Goldman Sachs, Morgan Stanley, JP Morgan and Citi (all at 6500).

Figure 4. Consensus Forecasts on Gold Prices to 2028

Source: Bloomberg. Data as of March 31, 2025.

With Trump’s detonation of the “pax Americana” liberal world order in place since the end of World War II, “the U.S. dollar becomes a choice, not a necessity, and debt issuance on everything and everywhere — not just by the U.S. Treasury — becomes more risky and expensive” (from “Crashing the Car of Pax Americana Epsilon Theory”). The potential scope for reallocation to gold is suggested by the chart below:

Figure 5. Gold’s Share of Global Equity and Bond Securities

Source: BIS, ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Bank, World Federation of Exchanges, World Gold Council.

Gold is Scarce Relative to Financial Assets

Figure 6.

Source: Bloomberg and World Gold Council as of 2024.

The apocryphal tale that every molecule of gold ever mined remains above ground as potential supply (due to recycling, preservation in works of art, high-end jewelry, coins, hoarding and storage as a monetary reserve by central banks) is deeply flawed. As calculated and shown in the gold cube illustration in Figure 7, that quantity is 216,583 metric tonnes, which, for the sake of this exercise, equals $22 trillion at $3,000/oz.

However, only a small fraction of that quantity is potentially in play as “supply”. The gold cube illustration suggests the application of a 72% haircut to arrive at a number for physical gold that could be quasi-tradeable. That would include coins, low-end jewelry (think Middle Eastern souks) and assorted shapes and units not acceptable as good delivery by the London Bullion Market Association (LBMA), Commodity Exchange (COMEX) or Shanghai Gold Exchange (SGE). A tally of metal stored in London, COMEX or Shanghai Gold Exchange inventories results in a tradeable float of approximately $1 trillion.

Figure 7. Estimated Above-Ground Gold Holdings by Demand Categories

Source: Data as of 2/11/2025. Financial investment includes over-the-counter (OTC) and gold ETFs. World Gold Council, Metals Focus, Refinitiv GFMS.

This exercise leads to three conclusions:

First, the dollar amount of all gold is a small fraction of wealth denominated in U.S. dollars (USD), $100 trillion in global equities and $315 trillion of debt (Source: Institute of International Finance) as of year-end 2024. A small reallocation from liquid financial assets into gold, most easily accessed via gold-backed ETFs, could significantly increase the USD gold price.

Second, the recent scramble to relocate physical gold from London to New York ahead of tariffs illustrated the stark illiquidity of even the tradeable gold float. Following Trump’s victory, COMEX inventories rose 2.6x from approximately 17,000 to 40,000 ounces within a few months. The premium of New York versus London gold prices rose as high as $45 (1.5%) during that period as bullion banks and their clients hurried to withdraw London 400 ounce gold bars to be refined into 100 ounce COMEX good delivery, hardly the indication of a liquid market.

Third, the highly liquid paper gold trade rests on a shaky foundation, best imagined by John Exter*, as an inverted pyramid (see Figure 8). Paper gold includes all contracts traded between bullion banks and their clients in the form of swaps, options, futures and other derivatives. According to the LBMA, the daily trading volume of gold in 2024 was 33 million ounces or $80 billion compared to annual gold production of 120,000,000 ounces or $324 billion (2024 prices).

We reckon that the ratio of paper to physical trading is approximately 115 to 1 (based on LBMA and COMEX futures; see Figure 9). It is unclear, but unlikely, that the opaque LBMA market statistics include unreported over-the-counter derivative trades. The tariff scare illustrates the fragility of arrangements underlying the paper gold trade. In our opinion, the extension of credit among bullion banks and their clients will be more cautious following this episode. Our long-held belief (almost 30 years, as shown by my 1999 quote in the Appendix) is that any diminution of the paper gold trade will lead to improved price discovery for physical metal.

Figure 8. Exter’s Pyramid in the 21^st Century

A pyramid chart illustrating various investment types, from derivatives and stocks at the top to precious metals at the bottom.

Source: Antiquesage.com.

Figure 9.

Source: LMBA, COMEX and the World Gold Council.

Gold Miners: Potential for a Huge Catch-Up Ahead?

During Q1 2025, gold stocks (using GDX⁸ as a proxy) outperformed gold bullion with a gain of 35.56% compared to 19.02% for the metal. For many years, miners have underperformed the metal:

Figure 10. Gold Miners Offering Deep Value versus Gold Bullion

Figure 8. Gold Miners Offering Deep Value versus Gold Bullion

Source: Bloomberg as of 2/28/2025 (reflects past 37 years). Gold is measured by the GOLDS Comdty Spot Price and gold equities by the Philadelphia (PHLX) Stock Exchange Gold and Silver Sector Index (XAU). The Philadelphia (PHLX) Stock Exchange Gold and Silver Index (XAU) is used versus the Philadelphia (PHLX) Stock Exchange Gold and Silver Sector Total Return Index (XXAU) for its longer historical track record. You cannot invest directly in an index.

However, value investors and stock pickers, please take note: it would be ill-advised to take a jaundiced view of each and every gold stock. There are many success stories within the sector. A better perspective can be seen from the wide dispersion of returns:

Figure 11. Gold Miners: A Dispersion of Returns

Figure 9. Gold Miners: A Dispersion of Returns

Source: Bloomberg and FactSet as of 12/31/2024. Gold Miners (GDM) represents the NYSE Arca Gold Miners Index (GDMNTR INDEX) and the constituents of GDX US Equity, which tracks the GDMNTR Index. You cannot invest directly in an index.

While not universal, we see growing evidence of intelligent deployment of capital, resistance to the siren call of investment bankers that “bigger is better” and recognition of the need to return capital to shareholders during this period of prosperity for the industry. More enlightened management teams are beginning to think in terms of returns on invested capital (see Figure 12), accountability in terms of per-share metrics and judicious deal making.

Figure 12. Gold Mining Companies Returns to Shareholders, Ex Big 3 (US$M)

Figure 10. Gold Mining Companies Returns to Shareholders, Ex Big 3 (US$M)

Source: Mining Journal. Data as of 12/31/2024. “Ex Big 3” refers to Newmont, Barrick Gold and Agnico Eagle Mines. A Normal Course Issuer Bid (NCIB), also known as a stock repurchase program, is a company’s plan to buy back its own outstanding shares from the market, usually over an extended period, and is subject to regulatory approval.

While many investors trade mining stocks according to every twitch and jiggle in the daily price, we believe a better guide is the average gold price received on a quarterly basis.

Figure 13. Average Gold Price (2023-2025)

Figure 11. Average Gold Price (2023-2025)

Source: Bloomberg. Data as of March 31, 2025.

And for die-hard value investors, as we are, it is hard to find a more enticing sector in terms of EV/EBITDA⁹. What is especially appealing is that mining fundamentals, the main component of which is future gold prices, have fared relatively well in periods of recession and inflation.

Figure 14: Gold Miners Appear Undervalued Based on EV/EBITDA (2019-2025)

Figure 12: Gold Miners Appear Undervalued Based on EV/EBITDA (2019-2025)

Source: Bloomberg. Data as of March 31, 2025.

Trend Acceleration Ahead?

We concluded our 2024 commentary with the same heading as above. We hypothesized that the catalysts for a step change in the advance of gold prices would be: “a bear market; a steep, lengthy retreat in cryptocurrencies; bond market disruption with interest rate risk morphing into credit risk; and unwanted, persistent U.S. dollar strength that threatens economic instability.”

We are batting about 75% on those calls. The retreat in cryptocurrencies has been steep, but it is too early to call it lengthy. Treasuries have thus far failed to serve as a safe haven and credit risk seems to be furiously springing leaks. The U.S. dollar has weakened instead of strengthening as a corollary of the “Trump trade” that we envisioned. However, an entrenched bear market and spreading credit risk are enough, in our opinion, to drive the gold price substantially higher. Mining stocks, especially those well-managed and positioned, stand to benefit most from the step change in the rate of gold’s advance that we envision.

Appendix

From the dustbin.

For illustrative purposes only.

Footnotes

1	A bear market is often characterized by negative investor sentiment, leading to a downward trend in market performance over time.
2	The gold “float” is the amount of gold readily available for trading in the market.
3	The S&P 500 Index (Standard & Poor’s 500) is a stock market index that tracks the performance of 500 of the largest publicly traded companies in the United States.
4	The Magnificent 7 refers to a group of seven major tech companies known for their significant stock growth and market influence.
5	The term Nifty Fifty was an informal designation for a group of roughly fifty large-cap stocks on the New York Stock Exchange during the 1960s and 1970s, known for their consistent earnings, considered solid buy-and-hold growth stocks.
6	The advance-decline line (A/D line) is a technical indicator used in stock market analysis to measure market breadth. It tracks the difference between the number of stocks that are rising in price (advancing) and the number of stocks that are falling in price (declining) on a given day.
7	A bull market is characterized by rising prices and investor optimism.
8	VanEck Gold Miners ETF (GDX®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index (GDMNTR), which is intended to track the overall performance of companies involved in the gold mining industry.
9	EV/EBITDA, a popular valuation metric, compares a company’s enterprise value (EV) to its earnings before interest, taxes, depreciation, and amortization (EBITDA) to assess its value and profitability.

Source: https://sprott.com/insights/the-return-of-exter-s-inverted-pyramid/

Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Receives $6.85M Early Payment from AbraSilver and Repays $10M of Long-Term Debt

Post author By admin
Post date April 10, 2025

Vancouver, British Columbia–(Newsfile Corp. – April 10, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that it has received an early final property payment from AbraSilver Resource Corp. (“AbraSilver”) totaling US$6.85 million. This payment, originally due by July 31, 2025, was completed ahead of schedule in exchange for a reduced total obligation from the original US$7.0 million.

EMX retains a 1% NSR on AbraSilver’s Diablillos project, an advanced silver and gold project in Argentina. EMX congratulates AbraSilver on its recent C$58.5 million equity financing to accelerate advancement of Diablillos.

EMX will use the proceeds of the early property payment, together with cash on hand, to make a US$10 million principal payment toward its senior secured term loan facility due to Franco-Nevada Corporation. Following this early principal payment, EMX’s total long-term debt outstanding will be reduced from US$35 million to US$25 million.

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

For further information contact:

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

Stefan Wenger
Chief Financial Officer
Phone: (303) 973-8585
SWenger@EMXroyalty.com

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended December 31, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov. info

SOURCE: EMX Royalty Corp.

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Partner, Zijin Mining, Provides an Update on a New Copper and Gold Discovery in Serbia

Post author By admin
Post date March 27, 2025

Vancouver, British Columbia–(Newsfile Corp. – March 27, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that its royalty partner at Timok in Serbia, Zijin Mining Group Co., Ltd. (“Zijin”), released their “Annual Results Announcement for the Year Ended 31 December 2024” on March 23, 2025. This report showed a significant increase in copper and gold resources and reserves at Cukaru Peki in comparison to results published for 2023. The 2024 report also described a new exploration discovery at Timok called the Malka Golaja Copper-Gold Deposit (also referred to as “MG Area” in previous disclosures), which is located approximately seven kilometers to the southeast of the Cukaru Peki Mine. Zijin included this statement in their 2024 Annual Results Announcement:

“The preliminary exploration at the high-grade Malka Golaja Copper-Gold Deposit at the deep part of the metallogenic belt of Timok, Serbia was completed. According to the report under the JORC Code prepared by a team of competent persons, the cumulative identified copper resources amounted to 2.81 million tonnes with an average grade of 1.87%, and gold resources of 92 tonnes with an average grade of 0.61 g/t. In addition, the deposit remains open at the periphery, indicating significant potential for mineral exploration.”^[1]

The resource numbers reported by Zijin for copper and gold are for tonnes of contained metal, which equate to approximately 150 million tonnes of mineralized material averaging 1.87% copper and 0.61 g/t gold. Further, the Malka Golaja resource numbers published by Zijin were not categorized in their disclosure to National Instrument 43-101 or JORC, so EMX is assuming without access to the data that the resources are at the level of confidence and entirely classified as inferred resources, which represents the lowest level of confidence under CIM 2014 and JORC resource categories^[2].

Based upon EMX’s reviews of satellite imagery and the locations of drill sites as observed in the field, the Malka Golaja deposit appears to be covered by EMX’s Brestovac royalty interest. EMX senior management also recently completed a site visit to the Cukaru Peki mine and met with Zijin representatives for an update on Zijin’s mining activities at Timok. EMX congratulates Zijin on its outstanding work at Timok, including the rapid advancement of the Cukaru Peki operations and the novel discovery at Malka Golaja. The Malka Golaja discovery represents a significant development for both Zijin and EMX as a royalty holder.

EMX currently holds a 0.3625% NSR royalty over Zijin’s Brestovac exploration permit area (including the Cukaru Peki Mining Licenses), as well as portions of Zijin’s Jasikovo-Durlan Potak exploration license north of the currently active Bor Mine. EMX also owns a 2% NSR royalty on precious metals and a 1% NSR royalty on base metals on the Brestovac West License, which lies immediately adjacent and to the west of the Brestovac Mining License and the Cukaru Peki Mine. All of EMX’s Timok royalties are uncapped and cannot be repurchased or reduced. The Company is currently receiving quarterly royalty payments from Zijin for copper and gold production from the Cukaru Peki Mine.

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

For further information contact:

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

Stefan Wenger
Chief Financial Officer
Phone: (303) 973-8585
SWenger@EMXroyalty.com

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

Forward-Looking Statements

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

^[1] From page 32 of Zijin report: “Annual Results Announcement for the Year Ended 31 December 2024”, published on Zijin’s corporate website on March 23, 2025. Although Zijin meets the definition of a producing issuer under NI43-101 and has reported these results as being compliant with JORC protocols, an acceptable foreign code, EMX has not independently verified this information. However, EMX believes this information to be reliable and relevant.

^[2] EMX is treating the disclosed Malka Golaja resource estimate by Zijin as inferred resources only. As a requirement stated in Section 2.2 in NI43-101, inferred resources cannot be added to or reported with other resource categories. info

SOURCE: EMX Royalty Corp.

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Commencement of New Normal Course Issuer Bid

Post author By admin
Post date March 26, 2025

Vancouver, British Columbia–(Newsfile Corp. – March 26, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that, after its successful completion of its Normal Course Issuer Bid (the “Original NCIB”) on January 8, 2025, it has received approval from the TSX Venture Exchange (“TSX-V”) of its Notice of Intention to commence a new NCIB (the “New NCIB”) and a new automatic stock purchase program.

Under the Original NCIB, the Company repurchased and cancelled all of the 5,000,000 common shares (the “Shares”) allowed for a total amount of $8,255,000 or $1.65 per share, which represented approximately 4.45% of its issued and outstanding shares at the time of commencement.

Under the New NCIB, the Company may purchase for cancellation up to 5,440,027 Shares, representing approximately 5% of its issued and outstanding Shares as at April 1, 2025, over a twelve-month period commencing on April 1, 2025. The New NCIB will expire no later than March 31, 2026. In any event, EMX cannot purchase more than 2% of the issued and outstanding shares in any 30 day period.

In connection with the New NCIB, the Company is initiating an automatic stock purchase program with its designated broker in compliance with applicable securities law and the rules and policies of the TSX-V, in order to purchase all or a portion of the Shares under its NCIB at times when the Company would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading policies or otherwise.

EMX believes that from time to time, the market price of its Shares may not reflect their underlying value and that the purchase of its Shares will enhance shareholder value and increase liquidity of the Shares. The Company intends to fund the purchases out of available cash.

All purchases made pursuant to the New NCIB will be made through the facilities of the TSX-V, NYSE American Stock Exchange (“NYSE American”), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. The New NCIB will be made in accordance with the applicable rules and policies of the TSX-V, NYSE American and applicable Canadian and United States securities laws. The price that EMX will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that are purchased under the NCIB will be cancelled. The actual number of Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. The Company is not obligated to purchase any particular number of Shares under the New NCIB and the New NCIB may be modified or suspended at the Company’s discretion.

EMX has appointed National Bank Financial Inc. to make purchases under the NCIB on its own behalf.

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

For further information contact:

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

Stefan Wenger
Chief Financial Officer
Phone: (303) 973-8585
SWenger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246095

Energy Junior Mining Lion One Metals Precious Metals

Lion One Drills 142.66 g/t Gold over 2.2 m from Underground at Tuvatu Gold Mine in Fiji

Post author By admin
Post date March 25, 2025

North Vancouver, British Columbia–(Newsfile Corp. – March 25, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 2,194.70 meters of underground infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji (“Tuvatu“). The drilling is focused on the Ura lode system which is currently being mined.

All drilling was conducted from near surface underground workings. The Company intersected high-grade mineralized structures in 18 holes. Most of the drill holes did not exceed 130 m in length and most of the high-grade drill intercepts are located within 50 m of current underground workings. Drill results include multiple bonanza grade gold assays such as 142.66 g/t over 2.2 m, 489.52 g/t over 0.4 m, 168.95 g/t over 0.5 m, 189.15 g/t over 0.3 m, and 179.95 g/t over 0.3 m.

The Ura lode system is currently being mined from both the 1095 level and the 1116 level of the mine. The primary targets for the Ura drill program are the areas of the Ura system scheduled for near term mining up dip of the 1116 level and down dip of the 1095 level. Mining up dip of the 1116 level will be conducted through conventional shrinkage stoping. Work on this stope has already begun. The 1116 up-dip stope is steeply dipping and will be mined over a strike length of 100 m, with narrow mining widths of approximately 1.5 m. This stope encompasses numerous high-grade gold drill results, including the 168.95 g/t gold over 0.5 m intercept noted above, which is located 20 m above the 1116 level within the planned stope.

The Ura system remains open at depth and is largely untested below the currently modeled lodes. The system is a prime target for resource expansion and upgrade given the high-grade drill results, the underground access already in place, and the lack of drilling down-dip. The drilling reported here represents the first systematic drill program designed to target the Ura system. Much of this drilling is located outside the current resource. Drilling is ongoing and is being conducted from two underground drill stations: the 1095 drill station and the 1116 drill station.

Lion One Chairman Walter Berukoff commented: “We’re very pleased with the results from the Ura drill program. The Ura system is a developing target that represents an excellent opportunity both to expand our resource and to add tonnes to our immediate mine plan. The Ura lodes are high-grade structures, and we expect to be mining the areas targeted by this drill program in the next three to six months.”

Highlights of New Drill Results:

142.66 g/t Au over 2.2 m (including 328.50 g/t Au over 1.0 m) (TGC-0378, from 13.79 m depth)
489.52 g/t Au over 0.4 m (TGC-0389, from 31.1 m depth)
168.95 g/t Au over 0.5 m (TGC-0396, from 68.78 m depth)
25.87 g/t Au over 2.3 m (including 59.24 g/t Au over 0.8 m) (TGC-0396, from 55.7 m depth)
189.15 g/t Au over 0.3 m (TGC-0380, from 76.78 m depth)
179.95 g/t Au over 0.3 m (TGC-0391, from 149 m depth)
30.16 g/t Au over 1.5 m (including 81.27 g/t Au over 0.4 m) (TGC-0389, from 50.9 m depth)
31.74 g/t Au over 1.4 m (including 52.27 g/t Au over 0.6 m) (TGC-0392, from 41.1 m depth)
21.55 g/t Au over 1.9 m (including 67.05 g/t Au over 0.3 m) (TGC-0384, from 18.94 m depth)
41.57 g/t Au over 1.0 m (including 128.64 g/t Au over 0.3 m) (TGC-0384, from 38.64 m depth)
26.79 g/t Au over 1.5 m (including 69.27 g/t Au over 0.5 m) (TGC-0366, from 4.6 m depth)

*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.

Figure 1. Location of the Ura drilling reported in this news release. Left image: Plan view of the Ura drilling in relation to the Ura lodes shown in purple and other mineralized lodes shown in grey, with Tuvatu underground development shown in red. Right image: Section view of the Ura drilling looking NNE, approximately along strike of the Ura1 and Ura3 lodes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_001full.jpg

Ura Lode System

The Ura lode system was discovered during the initial development of the mine decline in late 2022 and was initially modelled as a single lode. It is now understood to be a system of lodes, with at least three separate lodes already identified (Ura1, Ura2, and Ura3). The Ura system remains largely untested. The system extends to surface and is open at depth. It is closed to the north by the Coreshed fault, while to the south it intersects and is likely offset slightly by the Cabex fault. The drilling reported here represents the first systematic drill program designed to target the Ura system.

Three separate lodes have so far been identified in the Ura system; the Ura1, Ura2, and Ura3 lodes, all three of which are narrow high-grade structures with bonanza-grade gold intersections frequently associated with chalcedonic silica and roscoelite – mineralization characteristic of high-grade alkaline gold systems. The Ura1 and Ura3 lodes dip subvertically to the west and strike approximately 200° to the SSW. The Ura2 lode strikes approximately 205° to the SSW and dips at approximately 45° to the west. The Ura2 lode intersects the Ura1 lode slightly below the 1116 level while the Ura3 lode is located between the Ura2 and Ura1 lodes, intersecting the Ura2 lode between the 1095 and 1116 levels. All three lodes have current total strike lengths of approximately 220 m each and remain open both at depth and to the South beyond the Cabex fault.

The drilling reported in this news release was conducted from two underground drill stations; the 1095 and 1116 drill stations. The drilling targeted areas of the Ura system directly up-dip and down-dip of the 1095 and 1116 levels, with particular focus on the Ura1 and Ura3 lodes. Drilling is being conducted on a 12.5 m grid to provide a detailed understanding of the geometry and mineralization in advance of mining. These areas are scheduled for mining in the near term and are anticipated to be added to the mine plan within the next two to six months.

The Ura system is largely untested and much of the drilling reported in this news release targeted areas outside the current resource. The Ura system is a prime target for resource expansion. Very limited drilling has been conducted below the current underground workings and initial analysis indicates that the system extends well below current levels. The deepest high grade intersect reported in this news release, 179.95 g/t gold over 0.3 m, is located approximately 90 m below current workings. This represents an additional four to five levels of mineralization below current mine levels, with strong potential for mineralization to continue further at depth (Figure 3).

Figure 2. Ura drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff, plan view. Plan view looking down. The drill holes shown here primarily targeted areas of the Ura lodes scheduled for near-term mining above and below the 1095 level. Ura lodes show in purple, underground workings in grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_002full.jpg

Figure 3. Ura drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff, section view. Section view looking NNE. Limited drilling has been conducted on the Ura system below the 1095 level. High grade gold mineralization has been intersected 90 m below the current underground workings and the system remains open at depth. Ura lodes shown in light purple, underground workings in grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_003full.jpg

Competent Person’s Statement

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Melvyn Levrel, MAIG, Senior Geologist for Lion One Metals, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods. The Lion One geochemical laboratory is accredited under the IANZ ISO/IEC 17025:2017 Standard – the international standard for testing and calibration of laboratories.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

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

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

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

Appendix 1: Full Drill Results and Collar Information

Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0364	1876283	3920814	120	304.3	-7.2	106.0
TGC-0366	1876284	3920812	121	266.2	18.2	85.0
TGC-0368	1876283	3920812	121	283.3	18.1	81.0
TGC-0369	1876283	3920814	121	313.2	14.7	86.3
TGC-0371	1876283	3920815	120	318.6	-6.7	94.0
TGC-0372	1876283	3920818	120	335.7	-10.2	180.4
TGC-0374	1876283	3920815	120	291.6	-38.3	174.6
TGC-0376	1876283	3920815	119	291.7	-44.5	112.0
TGC-0378	1876182	3920778	98	99.2	-40.0	80.2
TGC-0380	1876285	3920814	122	291.1	-49.4	121.2
TGC-0381	1876182	3920778	98	99.0	-81.0	16.1
TGC-0382	1876182	3920779	99	78.6	-14.8	62.3
TGC-0384	1876182	3920779	99	64.4	-17.3	74.4
TGC-0385	1876283	3920815	119	303.0	-37.4	105.0
TGC-0386	1876182	3920779	98	63.5	-46.8	110.7
TGC-0388	1876283	3920815	119	302.6	-43.9	113.1
TGC-0389	1876182	3920780	99	53.5	-13.2	101.2
TGC-0390	1876182	3920780	99	52.7	-35.9	111.0
TGC-0391	1876283	3920815	119	303.1	-50.1	231.5
TGC-0392	1876183	3920778	99	110.7	-19.2	58.2
TGC-0396	1876283	3920811	121	249.2	16.3	90.5

Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0364		0.0	0.7	0.7	3.05
		50.3	51.9	1.6	11.47
	including	50.3	50.9	0.6	25.78
	and	50.9	51.4	0.5	0.26
	and	51.4	51.9	0.5	5.52
TGC-0366		1.7	2.2	0.5	12.58
		4.6	6.1	1.5	26.79
	including	4.6	5.1	0.5	69.27
	and	5.1	5.8	0.7	4.45
	and	5.8	6.1	0.3	3.80
		7.3	9.0	1.7	5.05
	including	7.3	7.9	0.6	5.50
	and	7.9	9.0	1.1	4.81
		10.8	11.6	0.8	5.43
	including	10.8	11.1	0.3	3.63
	and	11.1	11.6	0.5	6.60
		20.2	22.0	1.8	12.27
	including	20.2	21.4	1.2	16.14
	and	21.4	22.0	0.6	4.54
		26.9	27.7	0.8	8.86
		34.2	34.7	0.5	5.32
		45.6	46.2	0.6	23.86
		54.7	55.0	0.3	3.07
		56.1	56.5	0.4	44.93
TGC-0368		20.7	21.0	0.3	8.43
		39.5	40.0	0.5	3.57
		44.8	45.4	0.6	6.86
		50.7	51.7	1.0	3.97
	including	50.7	51.2	0.5	3.97
	and	51.2	51.7	0.5	3.97
		75.7	76.4	0.7	3.11
TGC-0374		110.9	111.2	0.3	21.79
TGC-0376		77.9	79.3	1.5	5.47
	including	77.9	78.3	0.5	9.95
	and	78.3	79.3	1.0	3.46
		90.5	90.8	0.4	5.33
TGC-0378		12.1	12.4	0.3	3.49
		13.8	16.0	2.2	142.66
	including	13.8	14.3	0.5	5.77
	and	14.3	14.8	0.5	2.57
	and	14.8	15.1	0.3	0.17
	and	15.1	16.0	1.0	328.50
		23.3	24.8	1.5	8.46
	including	23.3	23.7	0.4	21.28
	and	23.7	24.1	0.4	0.39
	and	24.1	24.8	0.7	6.12
		29.4	29.7	0.3	10.02
TGC-0380		0.0	0.5	0.5	15.86
		72.8	73.2	0.4	21.05
		76.8	77.1	0.3	189.15
TGC-0381		14.2	15.4	1.2	7.47
TGC-0382		15.2	15.5	0.3	46.28
		18.1	18.5	0.4	9.98
		20.2	20.6	0.4	71.69
		31.0	31.8	0.8	33.39
	including	31.0	31.5	0.5	25.25
	and	31.5	31.8	0.3	48.03
		33.0	33.4	0.4	3.12
		34.6	36.1	1.5	5.99
	including	34.6	35.0	0.4	4.71
	and	35.0	35.3	0.3	13.71
	and	35.3	35.6	0.3	3.40
	and	35.6	36.1	0.5	4.07
TGC-0384		18.9	20.8	1.9	21.55
	including	18.9	19.3	0.3	29.99
	and	19.3	19.7	0.5	2.13
	and	19.7	20.0	0.3	67.05
	and	20.0	20.3	0.3	0.16
	and	20.3	20.8	0.5	19.84
		22.0	22.6	0.6	4.59
	including	22.0	22.3	0.3	4.09
	and	22.3	22.6	0.3	5.08
		38.6	39.6	1.0	41.57
	including	38.6	39.0	0.4	4.28
	and	39.0	39.3	0.3	0.60
	and	39.3	39.6	0.3	128.64
TGC-0385		71.4	72.4	1.0	18.55
	including	71.4	71.7	0.3	6.55
	and	71.7	72.1	0.4	0.05
	and	72.1	72.4	0.3	57.69
		78.3	80.0	1.7	4.88
	including	78.3	78.7	0.4	3.50
	and	78.7	79.4	0.7	0.05
	and	79.4	79.7	0.3	13.75
	and	79.7	80.0	0.3	8.74
		92.9	93.2	0.3	24.86
TGC-0386		10.0	14.3	4.4	4.73
	including	10.0	10.4	0.4	16.48
	and	10.4	11.0	0.7	<0.01
	and	11.0	11.3	0.3	1.52
	and	11.3	12.5	1.2	3.65
	and	12.5	12.8	0.3	<0.01
	and	12.8	13.1	0.3	1.09
	and	13.1	14.3	1.2	7.36
TGC-0388		0.0	0.6	0.6	3.48
TGC-0389		31.1	31.5	0.4	489.52
		50.9	52.4	1.5	30.16
	including	50.9	51.3	0.4	81.27
	and	51.3	52.0	0.7	2.91
	and	52.0	52.4	0.4	26.72
		85.9	86.2	0.3	4.04
TGC-0390		14.7	15.1	0.4	7.70
		59.1	59.6	0.5	6.76
		81.0	81.4	0.4	21.76
		84.5	85.1	0.6	3.00
		85.7	86.2	0.5	3.69
		99.1	99.4	0.3	4.43
		101.6	101.9	0.3	3.28
TGC-0391		0.0	0.6	0.6	3.61
		76.9	78.1	1.2	10.40
	including	76.9	77.5	0.6	7.91
	and	77.5	78.1	0.6	12.89
		96.9	97.3	0.4	39.15
		113.0	113.3	0.3	3.72
		149.0	149.3	0.3	179.95
TGC-0392		14.0	14.4	0.4	5.32
		24.6	27.8	3.2	11.99
	including	24.6	25.0	0.4	18.68
	and	25.0	25.6	0.6	5.97
	and	25.6	26.3	0.7	34.65
	and	26.3	27.2	0.9	0.05
	and	27.2	27.8	0.6	5.01
		41.1	42.5	1.4	31.74
	including	41.1	41.7	0.6	52.27
	and	41.7	42.5	0.8	16.34
TGC-0396		0.0	0.5	0.5	12.53
		5.2	8.0	2.8	7.13
	including	5.2	5.6	0.4	9.95
	and	5.6	6.2	0.7	13.67
	and	6.2	6.5	0.3	1.24
	and	6.5	7.4	0.9	4.67
	and	7.4	8.0	0.6	4.55
		10.9	11.6	0.6	3.64
		12.1	12.7	0.6	3.26
		14.0	16.8	2.8	5.48
	including	14.0	14.5	0.5	8.38
	and	14.5	15.0	0.5	3.61
	and	15.0	15.4	0.4	5.88
	and	15.4	15.7	0.3	9.27
	and	15.7	16.8	1.1	3.90
		34.7	35.0	0.3	21.78
		50.0	54.5	4.5	3.74
	including	50.0	50.3	0.3	4.50
	and	50.3	51.5	1.2	6.56
	and	51.5	52.3	0.8	0.04
	and	52.3	52.7	0.4	3.58
	and	52.7	53.0	0.3	2.48
	and	53.0	53.3	0.3	1.76
	and	53.3	54.5	1.2	4.07
		55.7	58.0	2.3	25.87
	including	55.7	56.5	0.8	59.24
	and	56.5	57.2	0.7	12.82
	and	57.2	58.0	0.8	3.05
		64.2	66.7	2.5	4.70
	including	64.2	64.5	0.3	5.08
	and	64.5	65.5	1.0	5.23
	and	65.5	66.7	1.2	4.16
		68.8	69.3	0.5	168.95

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245955

Base Metals Collective Mining Energy Junior Mining

Collective Mining Announces Closing of Investment and Early Exercise of Warrants for Gross Proceeds of C$63.4 Million

Post author By admin
Post date March 20, 2025

TORONTO, March 20, 2025 /PRNewswire/ – Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) (“Collective” or the “Company”) is pleased to announce the closing of Agnico Eagle Mines Limited’s (“Agnico Eagle”) investment in Collective pursuant to which Agnico Eagle subscribed for 4,741,984 common shares in the capital of the Company (the “Shares”) at a price of C$11.00 per Share for aggregate consideration of approximately C$52.1 million (the “Offering”). Concurrently with the closing of the Offering, Agnico Eagle exercised all of the common share purchase warrants of Collective (each, a “Warrant”) it held to acquire an additional 2,250,000 Shares at a price of C$5.01 per Share for aggregate consideration of C$11,272,500. On closing of the Offering and following exercise of the Warrants, Agnico Eagle’s ownership interest in the Shares increased to approximately 14.99%.

Collective Mining Ltd. Logo (CNW Group/Collective Mining Ltd.)

The proceeds from the Offering and exercise of the Warrants are expected to be used for exploration on the Company’s properties in Colombia and for general working capital purposes.

In connection with its initial investment in Collective on February 24, 2024, Agnico Eagle and Collective entered into an investor rights agreement (the “Investor Rights Agreement”), pursuant to which Agnico Eagle was granted certain rights, provided Agnico Eagle maintained certain ownership thresholds in Collective, including: (a) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Collective at the time of such financing or acquire up to a 9.99% ownership interest, on a partially-diluted basis, in Collective; and (b) the right to nominate one individual (and in the case of an increase in the size of the board of directors of Collective to eight or more directors, two individuals) to the board of directors of Collective. On closing of the Offering, the Investor Rights Agreement was amended and restated (the “A&R Investor Rights Agreement”) to increase the ownership interest ceiling in the participation right and top-up right described in (a) above from 9.99% to 14.99%, on a partially-diluted basis, to match Agnico Eagle’s ownership level at closing. The A&R Investor Rights Agreement is available under Collective’s issuer profile on SEDAR+ at www.sedarplus.ca.

PowerOne Capital Markets Limited acted as an advisor to Collective in connection with the Offering.

About Collective Mining Ltd.

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

Management insiders own approximately 33.4% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the NYSE American and TSX under the trading symbol “CNL” and on the FSE under the trading symbol “GG1”.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski73) on X

Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram

FORWARD-LOOKING STATEMENTS

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: planed use of proceeds from the Offering and the exercise of the Warrants; risks related to the speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 27, 2024. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/collective-mining-announces-closing-of-investment-and-early-exercise-of-warrants-for-gross-proceeds-of-c63-4-million-302407092.html

SOURCE Collective Mining Ltd.

Energy Junior Mining Lion One Metals Precious Metals Uncategorized

Lion One Announces Construction of Flotation Circuit at Tuvatu Gold Mine in Fiji

Post author By admin
Post date March 20, 2025

North Vancouver, British Columbia–(Newsfile Corp. – March 20, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to announce the start of engineering and construction of the flotation circuit at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

The Tuvatu gold mine is currently operating at the 300 TPD pilot plant level. The Company plans to double plant design capacity to 600 TPD with the expansion occurring in stages. The first stage of expansion is the addition of a flotation circuit that includes a regrind mill for processing flotation concentrate to approximately P80 20 microns prior to feeding the pre-treatment and CIL circuits.

Metallurgical testing conducted by the Lion One metallurgical lab in Fiji indicates that the addition of a flotation circuit will increase gold recoveries at Tuvatu by up to 10%. Gold recoveries at Tuvatu currently average between 80-83%. With a flotation circuit in place gold recoveries are anticipated to increase to over 90%.

Engineering of the concrete foundations of the flotation circuit has completed and construction preparation has begun. The steel and flotation plant equipment has also been ordered. Construction is anticipated to be complete in Q4 CY2025.

Lion One Chairman and President Walter Berukoff stated: “Construction of the flotation circuit is a priority for Lion One. Upon completion of construction the flotation circuit will provide immediate payback for the Company by increasing recoveries to over 90%. This is a significant increase in gold recoveries and further enhances the economics of the project.”

Competent Person’s Statement

About Lion One Metals Limited

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

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

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

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

Base Metals Energy Exclusive Interviews Lion One Metals Precious Metals

BOB MORIARTY | Geopolitics, Immigration, and Gold

Post author By admin
Post date March 16, 2025

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Category: Blog

Lion One Announces Mine Ventilation Upgrade, Reports Preliminary Gold Results

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The Return of Exter’s Inverted Pyramid

The Equity Bear Market is Not Caused by Tariffs Alone

Gold Positioning by Western Investors is Minimal

Gold is Still Contrarian

Gold is Scarce Relative to Financial Assets

This exercise leads to three conclusions:

Gold Miners: Potential for a Huge Catch-Up Ahead?

Trend Acceleration Ahead?

EMX Receives $6.85M Early Payment from AbraSilver and Repays $10M of Long-Term Debt

EMX Royalty Partner, Zijin Mining, Provides an Update on a New Copper and Gold Discovery in Serbia

EMX Royalty Announces Commencement of New Normal Course Issuer Bid

Lion One Drills 142.66 g/t Gold over 2.2 m from Underground at Tuvatu Gold Mine in Fiji

Collective Mining Announces Closing of Investment and Early Exercise of Warrants for Gross Proceeds of C$63.4 Million

Lion One Announces Construction of Flotation Circuit at Tuvatu Gold Mine in Fiji

BOB MORIARTY | Geopolitics, Immigration, and Gold

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

The Equity Bear Market is Not Caused by Tariffs Alone

Gold Positioning by Western Investors is Minimal

Gold is Still Contrarian

Gold is Scarce Relative to Financial Assets

This exercise leads to three conclusions:

Gold Miners: Potential for a Huge Catch-Up Ahead?

Trend Acceleration Ahead?

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