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Base Metals Diamcor Mining Energy Junior Mining Precious Metals

Retired Tiffany & Co. Executive Mr. D. Wayne Howard Joins Diamcor Board of Directors

KELOWNA, BC / ACCESSWIRE / March 18, 2024 / Diamcor Mining Inc. (TSX-V:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), an established diamond mining company focused on building a supply of ethically sourced, non-conflict, natural rough diamonds to some of the world’s most reputable diamantaires and luxury retailers, announces today that recently retired Tiffany & Co. executive, Mr. D. Wayne Howard, has joined the Company’s Board as an Independent Director.

“I am very pleased to announce the addition of Mr. Howard to our Company’s board as an Independent Director”, noted Diamcor’s CEO, Mr. Dean Taylor, “Having collaborated with Wayne at Tiffany & Co. over the years on the current and future direction of the diamond industry, and the growing complexities of securing supplies of non-conflict natural rough diamonds, I could not think of a better person to assist our Company at a time when our desire is to grow our business and position ourselves as a key additional source of rough diamonds to reputable diamantaires and luxury retailers” added Mr. Taylor.

“I look forward to working with Mr. Taylor, and to providing him with the insight, experience, and knowledge I have gained over the years to successfully grow businesses into larger entities”, commented Mr. Howard, “Dean and I share many of the same visions on the past, present, and future direction of the diamond industry, and we both believe that the opportunity exists to now position Diamcor for the future”.

Mr. Howard is a leadership expert and results-oriented executive with a creative, entrepreneurial approach to business issues and extensive experience as an international board member, with global experience with several NYSE listed companies. He has a demonstrated ability to improve profitability for companies by developing new strategies for growing revenues, reducing costs and improving operations. Wayne has held various senior executive positions over his extensive career including VP Finance, Executive Vice President Global Operations, Director of Marketing and Sales and business owner. Mr. Howard has extensive knowledge of the diamond industry and well-established relationships with key industry players. Most recently and prior to his recent retirement, Mr. Howard held various executive level positions at Tiffany & Co., including Divisional Vice President Diamond Supply – Operations Officer, Divisional Vice President Jewelry Supply – Operations Officer, and Vice President of Manufacturing. He is also currently Managing Director for NY based Peale Davies, an independent advisory firm that provides strategic and financial advice on acquisitions, private capital solutions, restructurings, M&A, and growth initiatives. His extensive career has also included positions as Vice President of sourcing and logistics with Cerberus Capital Management Portfolio Company, Profit Improvement consultant with DWH Solutions, as well as Executive Vice President of Global Operations for New York based International Flavors & Fragrances where he successfully improved return on invested capital, lowered costs, and successfully integrated the operations of a $1.0B acquisition. He has also served as Vice President of other NYSE listed companies including luxury retailer Nordstrom, and Unilever – Lipton. Mr. Howard has an Honours degree in Business Administration from Ivey Business School at Western University and has completed PMD at Harvard Business School.

Diamcor has agreed to grant Mr. Howard options to purchase 3,000,000 shares to be priced at $0.10 per share. The options will vest in accordance with the TSX Venture Exchange vesting requirements. All options will expire five years from the date of issue, and all options exercised will be subject to the required hold periods pursuant to applicable securities laws and TSX Venture Exchange policies.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded diamond mining company with a proven history, which is focused on building a growing supply of ethically sourced, non-conflict, natural rough diamonds to some of the world’s most reputable diamantaire’s and luxury retailers. The Company has a long-term strategic alliance with world famous Tiffany & Co, and currently, its primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly related to De Beers’ flagship Venetia Diamond Mine in South Africa. The Venetia diamond mine is long recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Company’s Krone-Endora Project have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company is also focused on the acquisition and development of additional mid-tier projects with near-term production capabilities to allow the Company to position itself as a growing supplier of ethically and responsibly mined non-conflict natural rough diamonds to reputable diamantaires and select luxury retailers. The Company has a strong commitment to junior mining, social responsibility, women in mining, supporting local communities, and to protecting the environment.

About the Tiffany & Co. Alliance

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

About the Krone-Endora at Venetia Project

Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

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

On behalf of the Board of Directors:

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

For further information contact:

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

For Investor Relations contact:

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

Mr. Neil Simon
Investor Cubed Inc
nsimon@investor3.ca
+1 (647) 258-3310

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

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.



View the original press release on accesswire.com

Categories
Base Metals Junior Mining

Strathmore to Present at Red Cloud’s Virtual Webinar Series

Kelowna, British Columbia–(Newsfile Corp. – March 18, 2024) – Strathmore Plus Uranium. (TSXV: SUU) (OTCQB: SUUFF) is pleased to announce that Dev Randhawa, Chairman and CEO and Director John DeJoia will be providing a live virtual presentation to discuss Strathmore’s summer and fall drilling programs. The webinar is hosted by Red Cloud Financial Services on Monday March 18th, 2024, at 2:00 PM ET.

We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.
The replay will be emailed out to all webinar registrants proceeding the event and will also be available on the Red Cloud website.

For more information and to register: https://redcloudfs.com/events/rcwebinar-suu/.

About Strathmore Plus Uranium Corp.

Strathmore has three fully permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

About Red Cloud Securities Inc.

Red Cloud Securities Inc. is an IIROC-regulated investment dealer focused on providing a full range of brokerage services to all investor types focused in the junior resource sector. Our services include Investment Banking, Research, Institutional and Retail Trading, Institutional Sales, and Retail Investment Advisory services.

About Red Cloud Financial Services Inc.

Red Cloud Financial Services Inc. is a globally focused capital markets advisory firm that provides a full range of executive strategy, media, marketing, and corporate access services. Our breadth of services combines with our significant knowledge of the junior mining industry combine for unique product offering. The company was founded by capital markets professionals with extensive experience in the junior mining industry.

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

Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202044

Categories
Base Metals Exclusive Interviews Junior Mining Precious Metals Project Generators

Riverside Resources | $3.75M Earn-In Option Fortuna Silver

Register Here for the Rule Symposium:

Ladies and Gentlemen, welcome to Proven and Probable, I’m Maurice Jackson, we are delighted to have you here today, as we plan to have an action-packed interview highlighting Riverside Resources. If you are interested in a company that has a robust portfolio that involves: Joint Ventures, Royalties, Spin-Outs, Rare Earth Metals, and high-grade gold and copper, then you’re in the right place. In this interview with sit down with Dr. John-Mark Staude the CEO of Riverside Resources, which exemplifies the Project Generator business model, which just completed an Earn-In Option Agreement with Mid-Tier Producer Fortuna Silver for $3,750.000.00! Riverside Resources has polymetallic project throughout Canada and Mexico.

Riverside Resources | TSX.V: RRI | OTCQB: RVSDF
Website: https://rivres.com/

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Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Fortuna Silver Sign Exploration Earn-In Option Agreement for the Cecilia Project Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – March 13, 2024) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has signed an option agreement on March 8, 2024 with Fortuna Silver’s subsidiary Compania Minera Cuzcatlan (CMC) on Riverside’s Cecilia Gold Silver Project in Sonora, Mexico where through a series of payments and work commitments, Fortuna may earn a majority interest. Riverside will remain the program operator using its local team based in Hermosillo, Sonora and adding strength to its international geoscience staff. The Cecilia Project is a titled and 100% Riverside owned district scale gold and silver, low sulfidation epithermal system, located 40 KM southwest of the Mexico-U.S.A. border city of Agua Prieta and is directly accessible by a well-maintained paved and then dirt road. The project is over 60 KM sq and has over 10 different exploration targets, with at least two nested dome complexes like the domes in Peru at the Yanacocha Mining District and in Bolivia at the Korri Kollo Mine, which have produced well over 25M and 5M oz gold respectively. This new Agreement enables the Project to immediately move ahead with a robust exploration program and reflects the belief, by both parties, of the potential for rapid discovery of new precious metal deposits.

Highlights of the Agreement are summarized below:

  • Fortuna Silver Option of Riverside’s Cecilia project with commitment of work, including an initial planned minimum 1000 meters drilling campaign.
  • Work expenditures of 500k/yr for the first 4 years and 1.75M in final year.
  • An initial payment of $50,000 to Riverside upon signing and then $25,000 each year for a total of $150,000.
  • A total work spends of US$3,750,000 for an initial 51% interest and second option total spending of US$6,000,000 to earn 80% interest.

Option agreement terms:

  • First Option:
    • 5 years to earn 51% by spending US$3.75M in work and paying US$150,000 in cash payments to Riverside with required work of at least $500,000 in the first year for the Option and Riverside has the drill permits in hand. Fortuna has paid Riverside the initial $25,000 on signing and pays $25,000 more on filing the agreement in Mexico. Then pays Riverside $25,000 each year plus Riverside acts as operator for the program with a 10% management fee on top of the work spending commitments each year.
  • Second Option:
    • Upon completion of First Option, Fortuna may elect to progress with a second option to earn to 80% by spending an additional $2.25M in work over 3 additional years.
  • Third Option:
    • After completing Second Option, Fortuna may elect within 120 days to pay Riverside $5M cash and grant Riverside a 2% NSR where 1% NSR may be purchased before commercial production for $3M thereby Fortuna earning 100% interest in the project.

Riverside’s President and CEO, John-Mark Staude, stated: “We are delighted to partner with Fortuna Silver as we have had a productive and respectful relationship having worked in parallel in Mexico for over 15 years. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of deep and thorough exploration attention that this agreement provides.”

Riverside will be reimbursed for all annual concession maintenance fees, property taxes, access fees, and any other payments required to maintain the Project. As Operator, Riverside will manage the exploration programs and be entitled to collect administration fees of 10% on the work programs. Riverside Ceclia project is a high-quality project, and we are excited to see it now moving ahead with mid-Tier Mexico producer as our partner and the project fully fundable this way.

Riverside has the right to sell interest in the joint venture or royalty through a first right of offer (ROFO). Similarly, Fortuna can do the same providing Riverside with first right of offer.

Cecilia Project:

Riverside Resources has undertaken comprehensive exploration efforts at the property, including drilling activities that have yielded significant gold intercepts. Notably, drill results have intersected near surface promising intercepts such as 37 meters at 1.5 grams per ton of gold (>50 gram meter) within the rhyodacite dome, showcasing the property’s substantial potential at shallow depths. The project has high potential to follow these intercepts and go for larger intersections and big potential targets at depth.

What distinguishes this project is the potential of a preserved fertile dome system. The Magallanes Target, situated at the central part of the project, exhibits interaction within extensive NE-NW structures, presenting a compelling opportunity for the discovery of high-grade ore shoots and/or bulk-mineable epithermal gold-silver deposits. Moreover, the geological framework of the project, notably its host rock and stratigraphy as evidenced in the surrounding targets (e.g. in the Casa de Piedra Target), suggest the presence of mantos containing disseminated and/or replacement Au-Ag enriched polymetallic mineralization at depth. This geological scheme of the Cecilia Project resembles the Tertiary-age rhyolite systems, like the La Pitarrilla Ag-Pb-Zn project that has a total In-pit and Underground (Oxide, Transition and Sulphide) of about 844M AgEq*, and Fresnillo’s San Julian Ag-Au Mine (~350M AgEq**), both situated in Durango, Mexico and also located in the Sierra Madre Volcanic Province.

* See Endeavour Silver press release date December 8, 2022

** Obtained from Fresnillo public presentation, Hermosillo, Oct 2016

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201529

Categories
Base Metals Energy Junior Mining Project Generators

F3 and Traction Begin Drilling to Locate Source of Radioactive Boulders

A sonic drill has arrived on site to complete a 2,000-metre program, searching for the source of the Isle Brochet radioactive boulders, grading up to 8.23% U3O8.

Kelowna, British Columbia–(Newsfile Corp. – March 8, 2024) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that the 2024 winter drill program at the Hearty Bay project is underway with the arrival of the Boart Longyear drill crew on site. The program is designed to find the source of glacially dispersed uraniferous boulders and anomalous till geochemistry samples on Isle Brochet. The glacially dispersed material in combination with the recently completed gravity survey provides new, reliable targets for the program that were not tested in previous and historic drill programs.

A total of approximately 2,000 metres of drilling is planned using a Boart Longyear sonic drill that can recover and sample both overburden and bedrock. This is anticipated to trace anomalous overburden under the lake to the proposed source areas, which may be defined by one of the gravity low targets defined by this winter’s survey (see Figure 1). The program should be completed by the end of March, dependant on ice conditions.


 
Figure 1 Map Showing New Targets Up-Ice of the Isle Brochet Uranium Boulder Trains
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/200930_4c52026134f7b967_002full.jpg

Boart Longyear is the drill contractor, geomorphology experts are provided by Palmer Geotechnical Consultants Inc., while F3 Uranium Corp is the program operator; technical guidance will be given by Rock U Consulting (Ken Wheatley), Technical Advisor to Traction Uranium.

About Hearty Bay:

The Hearty Bay property comprising 7 contiguous mineral claims with an area of 11,173 ha. is located on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac uranium deposit and 60 km east of the Beaver Lodge uranium district. The property surrounds the historic Isle Brochet high grade boulder field, consisting of the Wolfe and Jackfish 1km long dispersal trains trending in a down-ice direction and containing reported historic assay values up to 3.54% uranium. Approximately 600m to the northeast of the lake bottom a group of radioactive boulders were discovered reported to contain up to 1.4% U3O8. These boulders were both sandstone and altered basement rocks which was interpreted to indicate that the mineralized source was at or near the unconformity. The source of the boulders remains undetermined.

Prospecting work conducted by Fission 3 in 2019 on the historic Wolfe and Jackfish boulder fields at Isle Brochet identified and sampled 45 new occurrences of mineralized sandstone and basal conglomerate boulders, returning assay values of up to 8.23% U3O8 with over 24% of them >1% U3O8. The sandstone and conglomerate lithologies suggests the source originates at or near the Athabasca Sandstone – Basement unconformity, and likely nearby. This suggests that the Athabasca Basin margin represents a high-priority focus for exploration for the source.

Traction Uranium Corp. will sole fund the drill program for its exploration expenditures on the property to reach $3 million and thereby earning a 50% interest in the property. Traction has the option to acquire up to a 70% interest in the Hearty Bay Project by completing an additional $3 million in exploration work on the Hearty Bay Property by the end of 2025.

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 project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 17 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

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/200930

Categories
Dolly Varden Silver Junior Mining Precious Metals

Dolly Varden Silver Announces $15 Million Bought-Deal Public Offering, With Participation by Eric Sprott

Dolly Varden Silver Corporation
Dolly Varden Silver Corporatio

VANCOUVER, British Columbia, March 04, 2024 (GLOBE NEWSWIRE) — Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden”) is pleased to announce that it has entered into an agreement with Research Capital Corporation, as the sole bookrunner and co-lead underwriter, and together with Haywood Securities Inc. as co-lead underwriters, on behalf of a syndicate of underwriters, including Raymond James Ltd. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 14,285,700 flow-through shares of the Company to be sold to charitable purchasers (each, a “Charity FT Share”) that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) at a price of $1.05 per Charity FT Share, for aggregate gross proceeds to the Company of $14,999,985 (the “Offering”). Mr. Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the transaction.

The gross proceeds from the sale of Charity FT Shares will be used for further exploration, mineral resource expansion and drilling in the combined Kitsault Valley project, located in northwestern British Columbia, Canada, as well as for working capital as permitted, as Canadian Exploration Expenses as defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1(6) of the Income Tax Act (Canada) and “flow through mining expenditures” as defined in subsection 127(9) of the Income Tax Act (Canada) that will qualify as “flow-through mining expenditures” and “BC flow-through mining expenditures” as defined in subsection 4.721(1) of the Income Tax Act (British Columbia), which will be renounced with an effective date no later than December 31, 2024 to the initial purchasers of Charity FT Shares.

The closing of the Offering is expected to occur on or about March 21, 2024 (the “Closing”), or on such date as may be determined by the Underwriters, and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”) to list, on the date of Closing, the Charity FT Shares.

In connection with the Offering, the Company intends to file a prospectus supplement (the “Supplement“) to the Company’s short form base shelf prospectus dated April 25, 2023 (the “Shelf Prospectus“), with the securities regulatory authorities in all provinces of Canada, except Quebec. Copies of the Shelf Prospectus and, the Supplement to be filed in due course in connection with the Offering, will be available on SEDAR+ at www.sedarplus.ca. The Shelf Prospectus contains, and the Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Supplement and the accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR+ at www.sedarplus.com before making an investment decision.

In connection with the Offering, the Underwriters will receive an aggregate cash fee equal to 5.0% of the gross proceeds of the Offering. Eventus Capital Corp. has been appointed as a special advisor to the Company.

Pursuant to existing agreements with the Company, Hecla Canada Ltd. (“Hecla“) and Fury Gold Mines Ltd. (“Fury”) will be entitled to acquire common shares of the Company (“Common Shares”) in connection with the Offering at a price of $0.80 per Common Share to maintain their pro rata equity interest in the Company. If Hecla or Fury exercise their pro rata rights, any Common Shares issued will be in addition to those issued as part of the Offering.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward-Looking Statements

This 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. These forwardlooking statements or information relate to, among other things: receipt of all approvals related to the Offering; the intended use of proceeds from the Offering; the potential subscription of Hecla and Fury in connection with the Offering and the expected Closing of the Offering.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, 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: 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; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and 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 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. 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.

Neither 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 news release.

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com.

Categories
Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver May Need to Change Its Name

Bob Moriarty
Archives
Mar 4, 2024

Last Friday’s sudden $38 move higher to a new closing peak has me a bit confused. I have been predicting a turn higher in resource shares for the last several weeks. This could be the start of something great. But it was a strange day and I’m feeling it is behaving like a market where someone knows something and is front running gold and silver.

Certainly, the US, NATO and Israel are all working very hard to start WW III. Last week showed that the CIA has had a dozen bases on the Russian border for almost ten years. And it was revealed that the US, France and the UK have had active-duty soldiers serving in Ukraine. That’s an act of war.

If World War III is about to start be prepared for the US, NATO and Israel to lose. The Russians have better weapons and certainly better leadership. The US has a president who can’t remember where or when his son died and a vice-president who worked as a hooker. The Air Force Space Command has a trans-gender colonel who lectures her/his troops on getting pronouns correct. What could possibly go wrong?

Old timers in the resource sector will be quite familiar with the name of Dolly Varden. Named after a heroine from a Charles Dickens book, the short-lived mine produced the highest-grade silver in Canada at the time between 1919 and 1921. Before he became President, even Herbert Hoover was associated with the mine. Located in the heart of the Golden Triangle in Northern British Colombia the silver deposit is near the Eskay Creek Mine and the Premier Gold mine.

While I was aware that for a time Eskay Creek proved to be Canada’s highest-grade gold mine producing over three million ounces of high-grade gold, I wasn’t aware that Eskay Creek also measured as the 5th largest silver mine in the world with production of over 160 million ounces of silver.

Dolly Varden Silver (DV-V) may need to change its name. For like the nearby Eskay Creek Mine, latest assay results demonstrate a high-grade gold potential.

Dolly drilled 350 meters between what they call the Homestake Main and Homestake Silver in hole 23-389. The Homestake Project of course was purchased from Fury Gold Mines in 2021 for $65 million in cash and shares. Dolly Varden/Torbrit has always been high-grade silver with some gold. Homestake was high-grade gold with good silver values. The drill results from hole 23-389 may cause Dolly to change its name to Dolly Varden Gold. Or Dolly Varden Gold/Lots of Silver.

Released on the 12th of February that hole showed a remarkable Eskay Creek kind of grade and length giving 79.49 g/t of gold across 12.45 meters with 60 g/t of silver. That was within 66.5 meters of 15.26 g/t gold with 20.05 g/t of silver. Nearby hole 23-399 reported 2.68 g/t Au and 20 g/t Ag over 57.70 meters.

The Dolly Varden/Homestake project looks more and more like an Eskay Creek analog every day. Eskay Creek of course is on the same trend and located only about 60 miles away. Should Dolly Varden poke a couple more similar grade holes in the 350-meter stretch between Homestake Main and Homestake Silver the shares are going to the moon.

Dolly Varden last released a 43-101 back in 2019. Since that time the company spent $40 million on exploration and drilling. The 2023 program alone consisted of just over 51,500 meters of drilling giving excellent results. Investors should be looking for an updated 43-101 after the 2024 drill program completes and has been reported.

Since there is an almost even split between silver value and gold value, on the excellent presentation the company shows both a combined resource in terms of silver equivalent and another in gold equivalent. For silver Eq the company shows about 140 million ounces of silver using a silver price of $20 in USD. For a gold Eq the presentation gives about a 1.5-million-ounce number at a gold price of $1650.

Dolly has a market cap today of about $189 million in Canadian pesos or $140 million in US rubles. The existing 43-101 is sufficient to provide support to that market cap. The 2024 drill program is fully funded by the $10 million in the bank.

The factor that could be of critical importance to the price of the shares is the lack of public participating. Basically, as in all commodity trading it is the general public or the speculators who provide liquidity.

With Dolly 22% of the shares are held by Fury Gold Mines as a result of the 2021 deal for Homestake. Hecla owns 15% and the latest news would tend to push them to go to the 19.9% number. Institutions own 47%. Eric Sprott owns 9%, he loves silver. So only 7% of the shares in total are available to the public. A slight change in attitude towards investing in resource stocks could drive the price of shares a lot higher.

Dolly Varden is an advertiser and I participated in the last private placement. Do your own due diligence, of course I am biased.

Dolly Varden Silver Corp
DV-V $.73 (Mar 01, 2024) 
DOLLF-OTCQX 270 million shares
Dolly Varden Silver website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Provides Update on Tuvatu Operations in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – March 4, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to provide an update on ongoing operations at the company’s 100% owned Tuvatu Alkaline Gold Project in Fiji.

Highlights:

  • Mechanized mining commencing on Zone 2 stopes in the URW1 stockwork vein system.
  • Airleg mining commencing on Zone 5 stopes at the UR2 and URW3 lode systems.
  • Limited mechanized mining in Zone 5 scheduled to commence in April.
  • Stope mining at Tuvatu scheduled to increase throughout March and April.
  • Continuous gravity concentrator is commissioned and in operation.
  • Intensive leach reactor is commissioned and in operation.
  • First long hole drill is in operation conducting sludge hole drilling.
  • Second long hole drill is on site undergoing commissioning.

Tuvatu Operations Update

The Tuvatu project is currently in the pilot plant stage of operations. The focus of mining operations to date has been on the development of underground access. Open stope mining is starting in March and is set to increase throughout April and May with the introduction of mechanized mining.

Mechanized mining at Tuvatu will consist of long hole open stoping. The first long hole drill is in operation on site and is conducting sludge hole drilling to confirm stope boundaries at the URW1 stockwork vein system in advance of blasting and extraction. The first stopes to be extracted through long hole open stoping will be at the URW1 stockwork vein system in Zone 2. The second long hole drill is undergoing commissioning on site at Tuvatu and will commence sludge hole drilling in the Murau stockwork vein system in Zone 2 once commissioning is complete.

Open stope mining in Zone 5 will initially consist of airleg stoping in March before the introduction of limited long hole open stoping in April. Airleg stoping has started in Zone 5 at the UR2 lode system and will be initiated at the URW3 lode system in late March. Limited long hole open stoping is scheduled to commence in Zone 5 in April before increasing throughout May and June.

The continuous gravity concentrator and intensive leach reactor were commissioned at the end of January and are in operation. New blowers have been ordered for the CIL tanks and are anticipated to be installed by mid-April. Mill throughput of approximately 26,000 tons is anticipated for the three-month period from March to May. Gold production is anticipated to increase during this period as a result of the commencement of open stope mining and full commissioning of the processing plant.

Qualified Person (NI43-101)

In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43- 101”), Alex Nichol, MAIG, VP Geology and Exploration, is the Qualified Person for the Company, and has reviewed, validated, and approved the technical and scientific content of this news release.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of 7 diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged and split by Lion One personnel on site and 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 0.50 g/t Au are re-assayed three times to get two assays within 10% of each other. 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 all samples with grades above 0.5 g/t Au are also 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 33 important pathfinder elements.

The Lion One lab has implemented the Laboratory Information Management System (LIMS) to automate workflows, integrate instruments, and effectively manage samples and associated data across all analyses conducted in the lab.

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.

As disclosed in its “Technical Report and PEA Update for the Tuvatu Gold Project” dated April 29, 2022, the 2018 Tuvatu resource estimate comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and under the Lion One profile on the SEDAR+ website at www.sedarplus.ca.

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

Contact Information
Investor inquiries: 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/200281

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Record Preliminary Revenue for Year End 2023

Vancouver, British Columbia–(Newsfile Corp. – February 29, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce preliminary, unaudited, fourth quarter and annual revenue for the year ended December 31, 2023 (all figures in U.S. dollars).

Annual Results

The Company earned preliminary revenue and other income and adjusted revenue and other incomeof $26,621,000 and $37,028,000, respectively, for the year ended December 31, 2023 (2022 – $18,277,000 and $25,397,000, respectively), which represented a 46% and 46% increase, respectively, in comparison to the prior year. The significant increase is due to the commencement of royalty payments from the Timok Royalty Property, which resulted in $8,632,000 in royalty revenue in 2023, as well as an 80% increase in royalty revenue from Gediktepe and 46% increase in attributed royalty revenue from Caserones. In 2023, the Company recognized revenue from the Timok Royalty Property that was partially related to 2021 and 2022 sales. The portion attributed to Timok production in 2021 and 2022 amounted to $4,790,000.

Fourth Quarter Results

The Company earned preliminary revenue and other income and adjusted revenue and other incomeof $7,546,000 and $10,921,000, respectively, for the three months ended December 31, 2023 (2022 – $2,288,000 and $3,535,000, respectively), which represented a 230% and 209% increase, respectively, in comparison to Q4 2022.

“2023 was an unprecedented year for EMX. We achieved record revenues with the commencement of royalty payments from our flagship Timok Royalty Property combined with solid growth from our stable of quality cash flowing royalties,” commented Dave Cole, CEO. “We expect to continue to grow the Company in 2024 and continue to deliver shareholder value through our royalty generation business model.”

2024 Guidance

The Company is expected to file financial statements for the year ended December 31, 2023 before the end of Q1 2024. As part of this filing the Company anticipates providing revenue guidance for 2024.

Caserones Update

In January 2024, EMX acquired an additional 2.737% ownership in the underlying Caserones royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California”), for cash consideration of $4,742,000 pursuant to an agreement with Franco Nevada Corporation. The acquisition provides EMX with a further 0.0531% (effective) net smelter royalty (“NSR”) interest in the Caserones property, increasing the Company’s NSR royalty interest to 0.8306%.

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

For further information contact:

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

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

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

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

Note 1

Reconciliation of Non-IFRS Measures

This news release contains certain financial performance measures that are not recognized or defined under IFRS (termed “non-IFRS measures”). As a result, this data may not be comparable to data presented by other issuers. For an explanation of these measures to related comparable financial information presented in the Financial Statements of the Company prepared in accordance with IFRS, refer to the discussion below. The Company believes that these non-IFRS measures are useful indicators of operating performance and are specifically used by management to assess the financial and operational performance of the Company. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Adjusted Revenue and Other Income

“Adjusted revenue and other income” is a non-IFRS financial measure, which is defined by EMX by taking total revenue and adding the Company’s share of royalty revenue related to the Company’s interest in SLM California. SLM California is the royalty holder of Caserones. The Company presents this non-IFRS measure as it believes that certain investors use this information to evaluate the Company’s performance and ability to generate cash flow in comparison to other royalty companies in the precious metals mining industry.

The following table reconciles “adjusted revenue and other income” to revenue and other income, the most directly comparable IFRS measure:

For the three months ended
December 31,
For the year ended
December 31,
 
(In thousands of US dollars)2023202220232022 
Total revenue and other income$7,546$2,288$26,621$18,277 
SLM California royalty revenue8,4383,30826,02418,887
The Company’s ownership %40.037.740.037.7 
The Company’s share of royalty revenue in Caserones$3,375$1,247$10,407$7,120 
     
Adjusted revenue and other income$10,921$3,535$37,028$25,397

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding the future price of copper, gold and other metals, the estimation of mineral reserves and resources, realization of mineral reserve estimates, the timing and amount of estimated future production, the Company’s growth strategy and expectations regarding the inclusion of revenue guidance for 2024 as part of the Company’s filing of its financial statements for the year ended December 31, 2023, or other statements that are not statements of fact. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “expects,” “anticipates,” “believes,” “plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,” “goals,” “objectives,” “potential,” “possible” or variations thereof or stating that certain actions, events, conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are based on a number of material assumptions, including those listed below, which could prove to be significantly incorrect, including disruption to production at any of the mineral properties in which the Company has a royalty, or other interest; estimated capital costs, operating costs, production and economic returns; estimated metal pricing, metallurgy, mineability, marketability and operating and capital costs, together with other assumptions underlying the Company’s resource and reserve estimates; the expected ability of any of the properties in which the Company holds a royalty, or other interest to develop adequate infrastructure at a reasonable cost; assumptions that all necessary permits and governmental approvals will be obtained; and the activities on any on the properties in which the Company holds a royalty, or other interest will not be adversely disrupted or impeded by development, operating or regulatory risks or any other government actions.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, failure to receive necessary approvals, changes in business plans and strategies, market conditions, share price, best use of available cash, copper, gold and other commodity price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks relating to the parties which produce the gold or other commodity the Company will purchase, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution, share price volatility and competition. Readers are cautioned that the figures presented herein have not been audited and are subject to change. As the Company has not yet finished its quarter-end close procedures, the anticipated financial information presented in this press release is preliminary, subject to final quarter and year-end closing adjustments, and may change materially.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which the Company will purchase gold, other commodities or receive royalties from, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold and other commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the Company’s MD&A for the quarter ended September 30, 2023, and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199768

Categories
Base Metals Junior Mining Precious Metals Project Generators Uncategorized

Riverside Samples 21 g/t Gold at PAT Target on the Pichette Gold Project, NW Ontario

Vancouver, British Columbia–(Newsfile Corp. – February 29, 2024) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has located and sampled the PAT Vein showings inside its Pichette Project west of Geraldton, Ontario. As previously reported, P.A.T Mines drilled extensively a series of veins near the southern boundary in the 1950s. The company was also able to locate what it believes to be the PAT Veins where they outcrop on surface. Several samples were taken from the vein along a 50m exposed section that returned 1m chip samples of 13g/t and 21 g/t gold within banded iron formation units. These high-grade veins are similar to those mined at the Leitch and Sand River mines where the average grade was around 1 ounce/ton gold with silver.

The Pichette Project has excellent road access and infrastructure being located immediately south of the Trans-Canada Highway. The project is underlain by an east-west trending panel of Archean-aged metavolcanic and metasedimentary rocks intruded by gabbros and latter porphyries. Metamorphism and tectonics have in most cases upgraded the tenor of gold mineralization in the belt between Beardmore and Geraldton.

In addition to the surface sampling Riverside completed a geological interpretation of the project to evaluate the timing and relationships of structural events and gold mineralization. As at the Greenstone Mine gold mineralization largely occurred in the first deformational events and was later remobilized or deformed by subsequent deformational events. The Greenstone Gold Mine has been studied by many experts and a complicated evolution of events has been documented as is common in Archean gold belts. The Greenstone Gold Mine will produce over 200,000 ounces of gold per year beginning this year.

“Riverside is very excited to have found high grade gold on surface at the PAT Veins. While the veins are mostly covered by the forest organics, the banded iron formations associated with the veins and mineralized shears are easy to locate using the magnetic survey completed in 2022. The BIF unit extends across the project outlining a multi-kilometer” states Riverside’s President and CEO, John-Mark Staude.

Figure 1: Location of the Pichette Project within the Beardmore-Geraldton Greenstone Belt.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_003full.jpg

This fall the Company completed a structural analysis of the geology and timing of mineralization at Pichette in order provide some context of the structures within the property and how they relate to the evolution of larger greenstone belt and nearby past producers and known gold occurrences. This analysis interprets the first phase of deformation resulted in folding of the Banded Iron Formations and north-south shortening of intrusions with most of the vein mineralization occurring during a second sinistral shearing event. These rocks were again subjected to a third dextral shearing event which resulted in some remobilization in metals.

Table 1: Selected prospecting samples from Riverside most recent field programs.

Sample #Au ppbSample typeComments
11922861,500grabCherty, Banded Iron Formation, weakly magnetic
1192287200grabRusty orange, quartz vein, with <1% pyrite in fractures
P2023-113,400chipRusty, quartz carbonate vein striking east-west, 1m continuous sampling across
P2023-213chipIron oxide-stained quartz vein material in road cut
47270321,900chip1.75m shear zone with rusty quartz-carbonate veins striking at 070, dipping at 80 N
47270422chipMetasediments, shear zone, 1.5m continuous sampling across.
47270522chipNarrow Quartz-carbonate vein, 12cm wide, no sulfides, following the structure
472706553chipFine grained Metaseds, sheared, siliceous, west of the 13 g/t sample

Figure 2: Riverside bedrock sampling sites from recent site visits on Aeromagnetic map.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_004full.jpg

On surface the mineralized zone consists of sugary and banded quartz with massive pyrrhotite and lesser arsenopyrite and pyrite with chlorite The average width of the altered and mineralized zone is 30m consisting primarily of pyritized and silicified mafic metavolcanics and BIF. Historical drill logs suggest a sharp contact between geological units that include mafic metavolcanics, metasediments, gabbros and quartz porphyries.

Gold is commonly enriched in intensely altered rocks adjacent to or within quartz-carbonate veins and veinlets as is found in orogenic deposits. Several of the historical drill logs document high grade intercepts similar to those documented at the Leitch Gold Mine to the west at Beardmore.

The alteration comprises a sequence of well fractured greenstone containing occasional small stringers of hard, reddish, siliceous material, with slight pyritization. The rock changes northward into a light green or tanned rock described in logs as “carbonate”. On surface more siliceous phases are noted with hard, black cherty material often found with the quartz veins. Moving further away from the zone a sericitic phase dominates.

Figure 3: Riverside Surface samples in relation to mineralized zones as defined by historical drilling.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_007full.jpg

Rock samples from the exploration program discussed above at Pichette were driven from site to Activation Laboratories in Thunder Bay for analysis. Analysis was completed using total digestion and Multi-Element Analysis (40 element) via Inductively Coupled Plasma Atomic Emission Spectrometry and fire assay for gold. The QA/QC program implemented as part of the sampling procedures included inserting one standard and one blank inserted by Riverside every 20 batch of samples. Activation Laboratories is an ISO/IEC accredited laboratory.

Bonus Share Issuance:

On January 17, 2024, the Company issued 335,000 common shares to certain individuals in recognition of their contribution to the Company over the past year. The shares were issued pursuant to the Company’s shareholder-approved bonus share plan and are subject to the policies of the TSX Venture Exchange and will include a hold period expiring May 18th 2024.

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199836