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Base Metals Energy Junior Mining

First Atlantic Nickel Featured in Article Highlighting Hydrogen Potential of Newfoundland and Labrador Nickel Deposits

First Atlantic Nickel Corp.
First Atlantic Nickel Corp.

VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Company”) a Canadian mineral exploration company focused on developing its 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in central Newfoundland, Canada, is pleased to be featured in a recent article published by the Telegram, which explores the province’s emerging role in the global hydrogen economy.

The article, titled “Two-pronged cache: Mining company excited about hydrogen potential in NL nickel deposits”, published on April 30, 2025, explores how Newfoundland and Labrador’s rich nickel resources could contribute meaningfully to the global transition to clean energy, particularly through the production of green hydrogen.

Nickel plays a vital role in hydrogen production technology, and Newfoundland and Labrador’s nickel-rich geology positions the province as a natural contributor to global decarbonization goals.

Additionally, the article notes that ophiolites are globally recognized as prime sources of geologic hydrogen, created through natural processes as minerals within them interact. “Some of the most significant geologic hydrogen discoveries in the world occur in ophiolites,” the article states. Dr. Yaoguo Li of the Colorado School of Mines further explains, “Geologic hydrogen systems are a combination of mineral systems and natural gas systems,” emphasizing the complex and promising nature of this resource.

“Nickel is not just for batteries anymore, it may be the key to unlocking cleaner, more scalable hydrogen technologies,” the article notes, referencing the growing momentum behind hydrogen and nickel synergy.

The full article can be accessed here: https://www.saltwire.com/newfoundland-labrador/hydrogen-potential-in-nl-nickel-deposits

“We are proud to see Newfoundland and Labrador’s mineral potential gaining international attention, particularly in the context of hydrogen and clean energy,” said Adrian Smith, CEO of First Atlantic. “This recognition reinforces the long-term strategic value of our nickel exploration and development efforts.”

Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America’s domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act’s (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite’s smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA’s stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite’s potential, stating, “The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel”3. Awaruite’s unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite’s simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.

Quote from USGS on Awaruite Deposits in Canada
Quote from USGS on Awaruite Deposits in Canada

Figure 1: Quote from USGS on Awaruite Deposits in Canada

The development of awaruite resources is crucial, given China’s control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world’s nickel4 and control an estimated 84% of Indonesia’s nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America’s stainless steel and electric vehicle industries.

Investor Information

The Company’s common shares trade on the TSX Venture Exchange under the symbol “FAN“, the American OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P21“.

Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com. Stay connected and learn more by following us on these social media platforms:

https://x.com/FirstAtlanticNi
https://www.facebook.com/firstatlanticnickel
https://www.linkedin.com/company/firstatlanticnickel/

FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com

Disclosure

Adrian Smith, P.Geo., is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

Analytical Method & QAQC

Samples were split in half on site with one half remaining in the core box for future reference and one half packaged in secure bags. QAQC method included the use of blanks, duplicates and certified reference material (standards) with one being inserted once in every 20 samples in order to test the precision and accuracy of the lab. All results passed the QA/QC screening at the lab, and all Company inserted standards and blanks returned results that were within acceptable limits.

Samples were sent to Activation Laboratories Ltd. (“Actlabs”) in Fredericton, NB. Actlabs is an ISO 17025 certified lab, accredited and acting independently from First Atlantic. Each sample was crushed, with a 250 g sub-sample pulverized to 95% – 200 mesh. A portion of the sample is fused with a lithium metaborate/tetraborate flux and analyzed by ICP-OES for major oxides and elements including cobalt, chromium and nickel.

A magnetic separate is then generated by running the pulverized sub-sample through a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This involves running a 30 g split of the pulp through a Davis Tube magnetic separator as a slurry using a constant flow rate, a magnetic field strength of 3,300 Gauss, and a tube angle of 45 degrees to produce magnetic and non-magnetic fractions.

The magnetic fractions are collected, dried, weighed and the magnetic fraction is fused with a lithium metaborate/tetraborate flux and lithium bromide releasing agent and then analyzed on a wavelength dispersive XRF for multiple elements including nickel, cobalt, iron and chromium. The magnetically recovered nickel grade was then calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction and dividing by the total recorded feed weight or magnetic mass pulled from the sample.

True widths are currently unknown. However the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long.

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project’s nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite’s properties allow for smelter-free magnetic separation and concentration, which could strengthen North America’s critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6.

First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry’s future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

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 include “forward-looking information” under applicable Canadian securities legislation. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, expectations regarding the timing, scope, and results from the Phase 1 work and drilling program; results from the Phase 2 work and drilling program, future project developments, the Company’s objectives, goals or future plans, statements, and estimates of market conditions. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. Additional factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. 

________________________________________________________

1 https://fpxnickel.com/projects-overview/what-is-awaruite/
2 https://home.treasury.gov/news/press-releases/jy1939
3 https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
4 https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
5 https://www.airuniversity.af.edu/JIPA/Display/Article/3703867/the-rise-of-great-mineral-powers/
6 https://home.treasury.gov/news/press-releases/jy1939

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3d32d2b9-81aa-4577-ad50-962550ef847e

Categories
Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Expands Near Surface Mineralized Shears with 25.0m of 1.10 g/t Au at the Moss Deposit

Vancouver, British Columbia–(Newsfile Corp. – May 1, 2025) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce its latest assay results from its ongoing 20,000-meter drill program and the second batch of results from the QES Up program, targeting the near surface extension of the most northern QES shears at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“).

Michael Henrichsen, CEO of Goldshore commented, “We are pleased with the ongoing positive results from our winter drill program, which has allowed us to test the previously undrilled upper central part of the Moss Gold Deposit. Historically undrilled areas had been modelled as waste, but these new drill results will enable us to model mineralized shears toward the surface, enhancing the deposit’s economic potential. We look forward to continuing our aggressive drilling to create value.”

Highlights:

  • Results from hole MQD-25-160, along the eastern end in the QES Up program, intersected a widening of the near surface extension of the deeper shears yielding increased mineralization with best intercepts of:
  • 25.0m of 1.10 g/t Au from 107.2m in MQD-25-160, including
    • 2.05m of 1.69g/t from 111.1m and
    • 7.65m of 2.62 g/t Au from 117.55m
  • Results from three additional QES Up holes confirmed near surface extension of the deeper marginal shears representing further opportunities to convert modelled waste to mineral resource within the current conceptual open pit with best intercepts of:
  • 19.75m of 0.45 g/t Au from 123.1m in MQD-25-151, including
    • 0.3m of 8.87 g/t Au from 126.5m
  • 6.0m of 1.34 g/t Au from 131.0m in MQD-25-152
  • 11.85m of 0.36 g/t from 148.15m in MQD-25-158

Technical Overview

Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 2 illustrates a cross section through drill hole MQD-25-160. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.

Figure 1: Summarizes the ongoing winter 2025 drill program targeting resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/250403_c9173f5a7476ab9d_002full.jpg

Figure 2: Cross section through MQD-25-160 illustrating the extension of marginal shears toward surface on the northern flank of the QES Zone (QES Up).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/250403_c9173f5a7476ab9d_003full.jpg

Drill results are from the eastern portion of the QES Up program, which aims to prove the surface extension of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. This area lies entirely within the conceptual open pit, with all mineralized intersections representing opportunities to convert currently modelled waste to mineral resource.

MQD-25-160 was drilled between holes MQD-25-152 and MQD-25-158 targeting both the near-surface extension of deeper modelled shears and the potential northern deflection of the QES mineralization. The hole collared into a similar weakly deformed and chlorite-epidote altered diorite with a more consistent zone of sericite-silica-hematite altered shearing, like that seen in the core of the QES zone (Figure 3). The sericite-silica-hematite shears are strongly mineralized with intercepts of 25.0m of 1.10 g/t Au from 107.2m, including 2.05m of 1.69 g/t from 111.1m and 7.65m of 2.62 g/t Au from 117.55m (Table 1). The increasing grade towards the northeast is being interpreted as a sinistral drag structure similar to that observed between the Main and Southwest Zones.

The hole was terminated within the mineralized QES envelope, as the deeper sections of the Zone have been sufficiently tested by previous drilling.

Figure 3: High-grade portion of sheared and mineralized granodiorite in MQD-25-160 returning 25.0m of 1.10 g/t Au from 107.2m along the northern edge of the QES Zone at QES Up

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/250403_c9173f5a7476ab9d_004full.jpg

Holes MQD-25-151 and MQD-25-152 were drilled on 100m sections, targeting surface extensions of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. Both holes collared into a weakly deformed and chlorite-epidote altered diorite with intermittent sericite-silica-hematite altered shear zones increasing in intensity at depth. The sericite-silica-hematite shears are moderately mineralized with intercepts including 19.75m of 0.45 g/t Au from 123.1m in MQD-25-153, including 0.3m of 8.87 g/t Au from 126.5m; 16.15m of 0.48 g/t Au from 88.0m, and 6.0m of 1.34 g/t Au from 131.0m in MQD-25-152 (Table 1).

Both holes were terminated within the mineralized QES envelope, as the deeper sections of the Zone have been sufficiently tested by previous drilling.

MQD-25-158 was drilled 400m further east than MQD-25-151 and MQD-25-152 targeting similar surface extensions of deeper modelled shears and confirming the eastern extension of the QES system. The hole collared into similar a weakly deformed and chlorite-epidote altered diorite with intermittent sericite-silica-hematite altered shear zones increasing with intensity at depth with intercepts of 11.85m of 0.36 g/t from 148.15m. The hole was extended to intercept the typical QES granodiorite at 262m confirming the orientation of the main QES host lithology with results of 13.5m of 0.38 g/t Au from 254.45m (Table 1). The hole was terminated prior to drilling through the entirety of the QES zone.

Table 1: Significant intercepts

HOLE IDFROMTOLENGTH (m)TRUE WIDTH (m)CUT GRADE 
(g/t Au)		UNCUT GRADE 
(g/t Au)
MQD-25-15167.8573.005.153.70.400.40
86.0090.004.002.80.580.58
123.10142.8519.7514.20.450.45
incl126.50126.800.300.28.878.87
MQD-25-15261.0066.105.103.70.550.55
88.00104.1516.1511.90.480.48
131.00137.006.004.51.341.34
MQD-25-158135.00137.002.001.60.430.43
148.15160.0011.859.50.360.36
170.40173.653.252.60.530.53
229.20233.003.803.10.500.50
254.45270.8516.4013.50.380.38
261.45265.854.403.30.550.55
293.10297.554.453.30.430.43
MQD-25-160107.20132.2025.0018.71.101.10
incl111.10113.152.051.51.691.69
and117.55125.207.655.72.622.62
incl119.95120.300.350.330.030.1
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Table 2: Drill Collars

HOLEEASTNORTHRLAZIMUTHDIPEOH
MQD-25-151670,1385,379,811428155.0-45.0150.00
MQD-25-152670,2095,379,849428155.6-45.7150.00
MQD-25-158670,4835,380,136428153.5-45.2300.00
MQD-25-160670,4125,380,044428156.5-45.1150.00

Analytical and QA/QC Procedures

The HQ diameter drill core has been oriented using ACTIII or equivalent tools and validated in the core shack. All core has been sawn in half cut just off the core orientation line (bottom of hole) with the right half (looking downhole) of the core bagged and sent to a third-party analytical laboratory. The left half of the core was returned to core boxes and is stored at Goldshore’s Kashabowie core yard facility.

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analysed for gold via fire assay with an AA finish (“Au-AA23“) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61“). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21“).

In addition to ALS quality assurance / quality control (“QA/QC“) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company’s health and safety policies in the field to ensure full compliance, and consulted with the Project’s host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company’s remediation protocols.

About Goldshore

Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate (“MRE“) has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: “Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada,” dated March 20, 2024 with an effective date of January 31, 2024 available under the Company’s SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).

For More Information – Please Contact:

Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.

E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com

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 release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company’s future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; and other statements that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management’s expectations; the Company’s exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company’s limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the Superion target may not add to the current mineral resource; and other risks associated with executing the Company’s objectives and strategies as well as those risk factors discussed in the Company’s continuous disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca.

The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company’s ability to fund its programs; the Company’s ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company’s mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company’s ability to operate in a safe, efficient, and effective manner; the Company’s ability to obtain financing as and when required and on reasonable terms; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that the Superion target will add to the current mineral resource; that the Company’s exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250403

Categories
Base Metals Energy Precious Metals

Grizzly Announces Private Placement, Debt Settlement, and Provides Update on The Greenwood Precious and Critical Minerals Project

Edmonton, Alberta–(Newsfile Corp. – April 29, 2025) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce a private placement (the “Offering”) of Units and FT Units for aggregate gross proceeds of up to $1,000,000 if fully subscribed. The Offering is concurrent with an agreement to settle $500,000 in outstanding accounts payable debt to APEX Geoscience Ltd. (“APEX”), the Company’s primary geological contractor.

Private Placement Offering

The Offering consists of up to 8,333,333 Units and up to 25,000,000 of any combination of Units and FT Units, with the Units and FT Units each priced at $0.03 per Unit and FT Unit. Each Unit shall consist of one common share of the Company (“Common Share”) and one Common Share purchase warrant entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance (“Warrant”). Each FT Unit shall consist of one Common Share and one half of one Warrant, each of which shall be issued as a “flow through share” for the purposes of the Income Tax Act (Canada). The Offering is being offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.

The Company intends to use the proceeds of the Offering, if fully subscribed with the maximum of 25,000,000 in FT Units and 8,333,333 Units, as follows:

Mineral Property Exploration $ 750,000
Mineral Rights and Exploration Permits 80,000
 
Working capitalOutstanding management fees to Officers $ 12,000
Other accounts payable 65,000$ 77,000
 
Corporate OverheadManagement fees to Officers $ 18,000
(3 months)Other Corporate Overhead 75,000$ 93,000
 
Maximum proceeds $ 1,000,000
 

There is no minimum to the Offering. If the Company closes on less than the maximum proceeds, or if the proportion of Units and FT Units differs from the above, the use of proceeds will be adjusted.

In connection with the Offering, the Company may pay finders fees payable in any combination of cash, Units, and Warrants to registered broker dealers, limited market dealers or arm’s length persons in accordance with the policies of the TSX Venture Exchange (the “Exchange”) and applicable securities legislation and regulations. The Common Shares and any Common Shares issued on exercise of the Warrants are subject to restrictions on trading until four months and one day from the date of issuance in accordance with the policies of the Exchange.

Debt Settlement Agreement

Concurrent with the Offering, the Company has entered into an agreement (the “Agreement”) with APEX Geoscience Ltd., the Company’s primary geological contractor, to settle $500,000 in outstanding accounts payable, incurred for prior exploration of the Company’s mineral properties. The Agreement contemplates the extinguishment of $500,000 in accounts payable owing by the Company to APEX by the issuance of 8,333,334 Units of the Company to APEX (the “APEX Units”) at a deemed price of $0.03 per Unit, and the issuance of a promissory note to a private corporation controlled by a principal of APEX with a principal amount of $250,000, bearing simple interest at 5% per annum, payable semi-annually, and maturing two years from the date of issuance (the “Note”).

The Warrants included in the APEX Units will expire 24 months from the date of issuance, but otherwise are on the same terms as the Units included in the Offering. The interest on the Note, payable semi-annually, shall be calculated on the principal amount only (simple interest) and, under the terms of the Agreement, may be paid by the Company, at the Company’s option, in Common Shares to the Holder at the Discounted Market Price (as defined by the policies of the TSX Venture Exchange) on the interest payment date.

The Offering, the Agreement, and each interest payment to be made in Common Shares, are subject to acceptance of the TSX Venture Exchange.

Corporate Update – Greenwood Precious and Critical Minerals Project

Figure 1: Grizzly Mineral Claims, Targets and Drill Permits

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The Company is pleased to announce that it has received four (4) new five-year drilling permits from the BC Ministry of Mining and Critical Minerals to complete drill testing along with access in the target areas of Midway, Imperial, Sappho and Copper Mountain (Figure 1). These four (4) new drill permits are in addition to existing drill permits for the Motherlode Mines area, along with the Ket 28 and Dayton target areas. Subject to financing, the Company is making plans to drill test the Motherlode Mines area, including copper (Cu) – gold (Au) – silver (Ag) mineralization at the Motherlode, Sunset and Greyhound historical mines, along with the high-grade polymetallic Au-Ag mineralization identified at the historical Midway Mine area.

Highlights

Motherlode Mine Area

The Motherlode Mine produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).

  • The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the newly acquired Crown Grants.
  • Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from 1.16% Cu up to 4.88% Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and 8 samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag.
  • Of the 10 samples collected from the Sunset Pit area, a total of 8 samples yielded from 1.44% Cu up to 3.66% Cu, 9 samples yielded from 1.7% Cu up to 4.88 g/t Au and 7 samples yielded from 14.5 g/t Ag up to 55 g/t Ag.
  • Various other targets including the Greyhound Pit, the Butte City Target, the Margerite Target and the Great Hopes Target have yielded a number of samples with >1% Cu and >10 g/t Au and warrant additional exploration.
  • Various historical Mineral Resource Estimates (MREs) produced both prior to the last period of mining 1957 – 1962 (Fredericks, 19611) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available BC Property Files.
  • In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold) intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the Motherlode pit in the vicinity of the historical underground workings.
  • Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 g/t Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 2).
  • The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 ounces per ton [opt]) along with significant Cu over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly.
  • The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorite along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
  • The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.

Figure 2: Motherlode Historical Drillhole ML96-8 Greenwood Project

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Midway

  • Two new showings identified in 2023 near the historical Midway Mine including up 5.64 g/t Au (0.165 opt) from a showing 400 m to the north of Midway and up to 4.19 g/t Au (0.122 opt) from a grab sample collected about 375 m to the west of the Midway Mine.
  • At least 6 new areas with anomalous gold (> 100 ppb), copper (>200 ppm) and silver in soils have been identified at Midway.
  • The Midway area is being targeted for copper-gold skarn and epithermal gold-silver.
  • At Midway, selective rock grab and composite rock grab samples collected during 2022 from outcrop at the Midway Mine-Picturestone area, yielded a range of 12.05 g/t (or 0.351 opt) Au up to 70.8 g/t (2.065 opt) Au (See Company news release dated October17, 2022).
  • Three (3) of the 7 selective rock grab samples from the Midway Mine yielded from 1,360 g/t Ag (39.7 opt) up to 2,140 g/t Ag (62.4 opt) (see the Company news release dated October 17, 2022).
  • All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature.
  • A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 opt) and 1,530 g/t Ag (44.6 opt), illustrating that there is potential for additional high-grade mineralization in the area.

Brian Testo, President and CEO of Grizzly Discoveries stated: “We are excited with the acquisition of our new drill permits along with the historical Motherlode Crown Grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2025 drilling at the Motherlode Mine area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District.“

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and critical minerals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.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.

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250140

Categories
Energy Junior Mining Precious Metals

Gold’s record run gains further traction; market conquers $3,500/oz

FILE PHOTO: Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh · Reuters

By Ashitha Shivaprasad and Anjana Anil

(Reuters) -Gold’s remarkable run higher is reaching new heights, with the market touching $3,500 per ounce as confidence in the U.S. economy further erodes after President Donald Trump’s renewed attack on the Federal Reserve chair.

Spot gold was trading around $3,428 per ounce by 1417 GMT, after hitting a record $3,500.05 earlier in the session.

Trump said on Monday the U.S. economy could slow down unless interest rates are lowered immediately, repeating his criticism of Fed Chair Jerome Powell as being slow to act and calling him a “major loser”.

That was followed by a furious flight from U.S. assets which undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries. [USD/] [MKTS/GLOB]

“Gold is recalibrating to reflect what can only be described as epic changes in the global financial system. And those changes are a widespread and fundamental shift in confidence in the world’s reserve currency and its bond markets,” said independent analyst Ross Norman.

Bullion, renowned as a hedge against uncertainties and a highly liquid asset, has surged more than $800 since the start of the year. It surpassed $3,300 last Wednesday, and its strong momentum pushed it up by nearly $200 in just a few days.

CENTRAL BANK DEMAND

Adrian Ash, director of research at BullionVault, said central bank demand “is very likely chasing gold’s move higher, because Trump 2.0’s chaos only hardens gold’s appeal as a geopolitical asset”.

In the final quarter of 2024, when Trump won the U.S. election, central bank purchases accelerated 54% year-on-year to 333 tons, according to an estimate from the World Gold Council.

Data showed that China’s central bank added gold to its reserves in March for the fifth straight month. China is considering setting up overseas warehouses to aid international settlement of specific products on the Shanghai Gold Exchange, its central bank said.

CORRECTION – LIKELY TO BE SHORT-LIVED

Earlier this month, Goldman Sachs increased its year-end gold forecast to $3,700. It added that if central bank buying averages 100 tonnes/month, it estimates gold could reach $3,810 by end-2025.

ANZ last week also raised its year-end gold price forecast to $3,600.

Asked about a pause in the rally, analysts and experts said any correction is likely to be short-lived, and greater gains are most likely on the horizon if instability persists.

“It is hard just now to see a scenario where gold could correct sharply lower as a physical floor of Johnny-come-lately buyers would support or cushion the decline,” said Norman.

Julius Baer analyst Carsten Menke said a major road block for gold “would be a less confrontative President Trump, either on the side of trade or on the side of monetary policy – both of which seem rather unlikely at the moment”.

Spot gold has hit 28 record highs so far in 2025, of which 16 are above the $3,000/oz milestone. Prices are up 31% so far this year, after ending 2024 with a 27% annual rise.

(Reporting by Ashitha Shivaprasad and Anjana Anil in Bengaluru. Editing by Veronica Brown and Jan Harvey)

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Announces Mine Ventilation Upgrade, Reports Preliminary Gold Results

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

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.

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

Categories
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

  • 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-D671.65335.50263.852.52370.090.153.10
Incl.82.00196.50114.504.19530.150.155.00
& Incl-303.75335.5031.752.24580.060.333.10
and373.55395.5021.952.96100.030.113.08
and444.80461.9517.152.29220.060.042.60
APC104-D7A160.90298.60137.701.87610.220.142.94
Incl.172.15202.4030.254.28500.140.325.10
APC-106D353.20354.851.6519.781220.030.0620.81
and388.30390.201.908.666000.050.4416.29
and732.95751.2018.251.92120.030.132.10
Incl.732.95738.805.854.50270.040.354.88
*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 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 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 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 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.)
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.)
Collective Mining Ltd. Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

Cision
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Categories
Base Metals Energy Junior Mining Project Generators

F3 – NEW Discovery – 33.0m Radioactivity with 0.56m >10,000 cps at Broach Lake

On New Trend – 12km South of JR Zone

Kelowna, British Columbia–(Newsfile Corp. – April 15, 2025) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce a new discovery with drillhole PLN25-205 which intersected radioactivity over a total of 33.0m including 0.56m of high radioactivity (>10,000 cps) with a peak of 37,700 cps at 398.34m. The drillhole is still currently in progress, however additional mineralization is not expected.

2025 Handheld Spectrometer Highlights:

Broach Lake: PW Area
PLN25-205 (line 11310S):

  • 0.5m interval with radioactivity of 340 cps between 340.0 and 340.5m, and
  • 0.5m interval with radioactivity of 440 cps between 347.5 and 348.0m, and
  • 0.5m interval with radioactivity of 370 cps between 366.0 and 366.5m, and
  • 8.0m interval with radioactivity peaking 2,500 cps between 373.0m and 381.0m, and
  • 23.5m interval with radioactivity peaking 37,700 cps between 384.0m and 407.5m, including
    • 0.56m composite mineralization >10,000 cps between 389.75m and 398.56m

Sam Hartmann, Vice President Exploration, commented:

“On March 18th we announced anomalous radioactivity at a newly emerging area 12km south of the JR Zone, showing great initial potential with drillhole PLN25-202, peaking at 720cps. This was followed up with an aggressive step back with PLN25-203, which aimed to locate a MLTDEM ground conductor. Encouraging alteration was encountered at depth corresponding with the approximate down-dip projection of the radioactive intervals in PLN25-202, but no anomalous radioactivity was noted. PLN25-204 then tested 60m up-dip of PLN25-202, successfully intersecting the targeted rock units but again with no anomalous radioactivity. Despite these results we decided on one more follow-up to PLN25-202 targeting approximately 50m down-dip (see Image 1 for cross section), this time successfully intersecting high-grade pitchblende mineralization hosted within competent but strongly chloritic and clay altered orthogneisses (see Image 2), in the hanging wall of an unmineralized fault with mineralization starting at a vertical depth of 325 meters from surface. This discovery is particularly meaningful as it is within the Clearwater Domain – a geological package predominantly thought to consist of intrusive rocks and historically considered less prospective for uranium mineralization. These drillholes contain significant intercepts of dioritic rocks – but also the strained and structurally disturbed orthogneisses we target. This strong initial intercept in PLN25-205 is the perfect analog to the approach of the technical team at F3 Uranium; to think out of the box and be persistent. After we finish drilling this hole, we plan to continue drilling on section to improve our understanding of the controls on the mineralization, before moving laterally along strike, which is open in both directions”.

Map 1. Broach Lake -2025 Scintillometer Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/248437_6a4027ce64d2ca31_002full.jpg

Image 1: Cross Section: Line 11310S

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/248437_6a4027ce64d2ca31_004full.jpg

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information *Planned Collar, azi/dip. Final surveys outstanding* Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum)Athabasca Unconformity Depth (m)Total Drillhole Depth (m)
Hole IDSection LineEastingNorthingElevationAzDipFrom
(m)		To
 (m)		Interval (m)Max CPS
PLN25-203lost in overburden
PLN25-203Alost in overburden
PLN25-203B11340S589233639784558648-63160.00160.500.50420160.7722
PLN25-20411295S589389639800358347-63168.50168.900.40310168.88401
PLN25-205*11310S589326639794058646-65340.00340.500.50340168.8TBD
347.50348.000.50440
366.00366.500.50370
373.00373.500.50470
373.50374.000.50370
374.00374.500.50<300
374.50375.000.50540
375.00377.002.00<300
377.00377.500.50510
377.50378.000.50780
378.00378.500.502100
378.50379.000.502500
379.00379.500.50660
379.50380.000.502400
380.00380.500.501400
380.50381.000.502100
384.00384.500.50800
384.50385.000.50770
385.00386.501.50<300
386.50387.000.501900
387.00387.500.503100
387.50388.000.502800
388.00388.500.501600
388.50389.000.50340
389.00389.500.50990
389.50389.750.259300
389.75390.000.2527200
390.00390.500.501700
390.50391.000.50480
391.00391.500.50900
391.50392.000.50670
392.00392.500.501300
392.50393.000.504400
393.00393.500.50590
393.50394.000.50380
394.00394.500.50640
394.50395.000.50420
395.00395.500.50420
395.50396.000.50640
396.00396.500.501400
396.50397.000.50940
397.00397.500.50<300
397.50398.000.50300
398.00398.340.349800
398.34398.500.1637700
398.50398.650.1510400
398.65399.000.358900
399.00399.500.504600
399.50400.000.50760
400.00400.500.50330
400.50401.000.50360
401.00401.500.50910
401.50402.000.501900
402.00402.500.503400
402.50403.000.501900
403.00403.500.501300
403.50404.000.50360
404.00404.500.506200
404.50405.000.50700
405.00405.500.504900
405.50406.000.502200
406.00406.500.502300
406.50407.000.501200
407.00407.500.50430

Handheld spectrometer composite parameters:
1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m

Image 2: Uranium Mineralization in PLN25-205

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/248437_6a4027ce64d2ca31_003full.jpg

The natural gamma radiation detected in the drill core, as detailed in this news release, was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 spectrometer which has been calibrated by Radiation Solutions Inc. The Company designates readings exceeding 300 cps on the handheld spectrometer (occasionally referred to as a scintillometer in industry parlance; this colloquial usage stems from historical naming conventions and the shared functionality of detecting gamma radiation a scintillometer)—as “anomalous”, readings above 10,000 cps as “highly radioactive”, and readings surpassing 65,535 cps as “off-scale”. However, readers are cautioned that spectrometer or scintillometer measurements often do not directly or consistently correlate with the uranium grades of the rock samples and should be regarded solely as a preliminary indicator of the presence of radioactive materials.

Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.

All depth measurements reported are down-hole and true thicknesses are yet to be determined.

About the Patterson Lake North Project:

The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Paladin’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Paladin’s Triple R and Nexgen’s Arrow.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248437

Categories
Base Metals Energy Junior Mining Oil & Gas

AT&T to Provide Fiber Connectivity for Jericho Energy Ventures’ Inaugural AI Modular Data Center Site

TULSA, OK / ACCESS Newswire / April 9, 2025 / Further to its news release dated March 31, 2025, Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that it has partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma. This deployment leverages the latest technology and data transfer protocols and is designed to scale beyond 100Gbps to meet anticipated demand growth.

On March 31, 2025, JEV unveiled its innovative Modular Data center venture, harnessing its natural gas assets and infrastructure to drive the development of advanced, technology-driven, AI-focused computing solutions tailored for the AI era.

Brian Williamson, CEO of Jericho Energy Ventures, commented: “We are moving full steam ahead in building out our AI modular data centers, and partnering with industry-leader AT&T along with others to deploy high-speed fiber connectivity on-site is a critical step in developing a next-generation modular AI computing infrastructure. By leveraging our natural gas assets and strategic locations, we are uniquely positioned to provide scalable, reliable, and cost-effective power solutions to meet the growing demands of the AI age.”

A March 30, 2025, Wall Street Journal article, “The AI Data-Center Boom Is Coming to America’s Heartland,” highlights how Meta and other tech giants are scouring rural America for land, transmission lines and natural gas to power AI operations, drawing them into the heart of the nation’s oil and gas region.

Jericho also announces that it has granted 1,000,000 incentive stock options (the “Options”) under its stock option plan (the “Plan”) to McKenna & Associates, a boutique advisory and investment firm and a 10% security holder of JEV. The firm’s principal is Andrew J. McKenna. The Options are exercisable at a price of C$0.20 for a period of up to 3 years.

Expressing McKenna & Associates’ continued support for JEV, Brian Schafer, President, stated: “Jericho’s launch of its natural gas-powered modular AI data center in Oklahoma is a smart, forward-thinking response to rising U.S. data storage demand. It reflects bold vision and strong execution to merge resilient and deployable data centers that capitalize on the plethora of small natural gas repositories across America’s heartland. I have full confidence in the management team and their strategy, and I remain fully committed to supporting Jericho’s next growth phase — including exploring a U.S. listing — as the Company works to deliver greater shareholder value at this pivotal stage.”

About Jericho Energy Ventures
Jericho is an energy company positioned to meet today’s energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.

Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures

CONTACT:
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: investorrelations@jerichoenergyventures.com

This news release contains certain “forward-looking information” and “forward-looking ‎statements” (collectively, “forward-looking statements“) within the meaning of applicable ‎securities laws. Such forward-looking statements are not representative of historical facts or ‎information or current condition, but instead represent only Jericho’s beliefs regarding future ‎events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of ‎Jericho’s control. Forward-looking statements are frequently characterized by words such as ‎‎”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, ‎or statements that certain events or conditions “may”, “will” or “may not” occur.‎ Specifically, this ‎news release contains forward-looking statements relating to, among others, the completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.

Forward-looking statements are subject to a variety of risks and uncertainties and other factors ‎that could cause actual events or results to differ materially from those anticipated in the forward-‎looking statements, which include, but are not limited to: regulatory changes; changes to the ‎definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other ‎infectious diseases; general economic conditions; industry conditions; current and future ‎commodity prices and price volatility; significant and ongoing stock market volatility; currency and ‎interest rate fluctuation; governmental regulation of the energy industry, including environmental ‎regulation; geological, technical and drilling problems; unanticipated operating events; the ‎availability of capital on acceptable terms; the need to obtain required approvals from regulatory ‎authorities; liabilities and risks inherent in oil and gas exploration, development and production ‎operations; liabilities and risks inherent in early stage hydrogen technology projects, energy ‎storage, carbon capture and new energy systems; changes in government environmental ‎objectives or plans; and the other factors described in Jericho’s public filings available at ‎www.sedarplus.ca.

The forward-looking statements contained herein are based on certain key expectations and ‎‎assumptions ‎of Jericho ‎concerning anticipated financial performance, business prospects, ‎strategies, ‎regulatory regimes, the ‎‎sufficiency of budgeted capital expenditures in carrying out ‎planned activities, the ability to obtain financing on ‎acceptable terms, expansion of consumer ‎adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are ‎subject to change based on ‎market conditions, ‎potential timing delays ‎and other risk factors. Although Jericho believes that these assumptions and the expectations ‎are ‎reasonable based on information currently available to management, such ‎statements are not ‎guarantees of future performance and actual results or developments may differ materially from ‎‎those in the forward-looking statements. Investors should not place undue reliance on forward-‎looking ‎statements.‎

Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements ‎contained in this news release are made as of the date of this news release, and Jericho does not ‎undertake to update any forward-looking statements that are contained or referenced herein, ‎except as required by applicable securities laws‎.

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: Jericho Energy Ventures, Inc.



View the original press release on ACCESS Newswire