Category: Junior Mining

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Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver’s Step-Out Intersects 1,091 g/t Silver over 9.38 Meters at Wolf Vein

Vancouver, British Columbia–(Newsfile Corp. – August 12, 2024) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (FSE: DVQ1) (the “Company” or “Dolly Varden“) is pleased to announce the first results from the Wolf Vein step-out directional drilling. High grade silver mineralization was intersected in a 40 meter southwest step-out, grading 1,091 g/t Ag over 9.38 meters, with significant base metal grades. Approximately 8,000 meters of an ongoing 25,000m drill program at the Company’s 100% owned Kitsault Valley Silver and Gold Project is being drilled at the Wolf Vein to expand and infill the plunge of high-grade silver mineralization.

Wolf Vein Step-out

  • DV24-404: 1,091 g/t Ag, 1.35% Pb and 1.40% Zn over 9.38 meters, including 2,505 g/t Ag, 3.42% Pb and 2.88% Zn over 1.63 meters.

* intervals shown are core length. Estimated true widths vary depending on intersection angles and range from 60% to 70% of core lengths, further modelling of the new intersections is needed before true widths can be estimated.

“We are encouraged with an increase in silver plus base metal grades over potential bulk underground mining widths at the Wolf Vein and eagerly anticipate more assays soon from this area. We are impressed with the consistency of mineralization, including strong native silver, within the intersection from drill hole DV24-404. Additional drilling to the southwest is being prioritized during the remainder of the 2024 drill season,” said Shawn Khunkhun, CEO of Dolly Varden Silver.

The Company is using directional drilling technology to precisely target areas for step-out and infill work. Drillhole DV24-404 is the initial “mother” hole on a step-out collared at surface from which three additional holes were directed off at depths near the base of the sedimentary cap (DV24-409, 412 and 414). Assays are pending for the three “daughter” holes (Fig 1). The directional drilling steered the holes to intersect the Wolf Vein at specific points that were a minimum of 30 meters apart. The drill hole was collared within the Surprise target area to the west of the Wolf Vein and intersected gold mineralization near the top of hole (Table 1).

Drill holes DV24-396 and DV24-402 targeted the upper, northeast portion of the recently discovered Wolf Vein Extension. These holes tested for mineralization below the projected plunge of high-grade silver first discovered in previously released drill hole DV21-273 (December 20, 2021 release). Both holes intersected alteration and the Wolf structure where elevated base metal values are typical.

Figure 1. Plan of Wolf Vein mineralized zone (in red) with all drilling to date. Lithology shown on drill trace- grey: sedimentary rock , green: volcanic rock , pink/red: mineralization. Step-out hole DV24-404 is the initial hole of the Wolf directional drilling program.

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Figure 2. Longitudinal Section of Wolf Vein with mineralization envelope in red. Plunge of high-grade silver mineralization extended 40m by Drill hole DV24-404. Section looking northwest, 30m wide window.

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Wolf Vein

The Wolf Vein is hosted in Jurassic-age Hazelton Formation volcanic rocks and is interpreted as a structurally controlled, multi phased, epithermal vein and vein breccias that occur along a southwest plunging zone of wider, higher grade silver mineralization. Native silver, parargerite, argentite and argentiferous galena are hosted in multiple phases of silica and iron carbonate veins and breccias. The extention of the mineralization discovered underneath the sedimentary rock cap and the initial Wolf deposit that comes to surface has a plunge extent of ver 950 meters at -45 to the southwest.

Figure 3. Core sample and microscope view of Wolf Silver mineralization in DV24-404 @ 772.20m consisting of, native silver, argentite and argentiferous galena in silica and iron carbonate vein and vein breccia.

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Table 1: Completed Drill Hole Assays from Wolf Vein

TargetHole IDFrom (m)To
(m)		Length (m)*Ag
(g/t)		Pb
(%)		Zn
(%)		Au
(g/t)
WolfDV24-396414.00414.500.5020.351.77NSV
And431.45432.000.5550.064.01NSV
WolfDV24-402420.90424.003.10185.122.450.19
and427.66428.180.5230.252.15NSV
SurpriseDV24-40424.2425.241.0023NSV1.191.05
WolfDV24-404760.45762.692.243521.762.75NSV
and766.82776.209.3810911.351.400.06
Including766.82768.451.6325053.422.880.20
including768.95770.001.0511300.420.56NSV
including772.05772.580.5323801.050.890.17

 
*All intervals shown are core length. Estimated true widths vary depending on intersection angles and range from 60% to 70% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.

Table 2: Drill hole data for Wolf Vein holes reported in this release

Hole IDEasting
UTM83 (m)		Northing UTM83 (m)Elev.
(m)		AzimuthDipLength (m)
DV24-3964670536173650380098-59531
DV24-4024670536173650380113-60450
DV24-4044667466173588489131-60816

Investor Relations

Dolly Varden Silver Corporation announces it has entered into an agreement with Winning Media LLC (“Winning Media”) to provide strategic digital media and consulting services to the Company. Winning Media is a Houston, Texas based marketing agency that delivers services to a diverse group of clients across North America, providing strategic digital media services, marketing, advertising and data analytic services. The Company and Winning Media act at arm’s length and neither Winning Media nor any of its principals currently own any interest, directly or indirectly, in the Company. Under the terms of the agreement, Winning Media will provide strategic digital media services including marketing services, news dissemination, data analytics services, content development, media buying and distribution, and campaign reporting and optimization. The Company has agreed to pay Winning Media an upfront fee of USD $100,000 and the services are expected to take place between the date hereof and August 31, 2024.

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

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

Forward Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) dated March 27, 2024, and management information circular dated May 28, 2024 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219558

Categories
Base Metals Energy Junior Mining

F3 Shareholders to Receive a Free Dividend F4 Share

Kelowna, British Columbia–(Newsfile Corp. – August 12, 2024) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce the distribution of common shares of F4 Uranium Corp. to F3 shareholders of record as of August 14, 2024, based on one F4 common share for each common share of F3 held. The F4 shares will then be rolled back at a rate of 10 to 1.
The distribution will be considered a dividend for tax purposes.

The Arrangement remains subject to final approval of the Supreme Court of British Columbia (the “Court”) scheduled for August 13, 2024, and acceptance from the TSX Venture Exchange, and is expected to be completed on or about August 15, 2024. F4 will apply to list its common shares on the TSX Venture Exchange and the OTC.

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 discoveries. F3 Uranium currently has 20 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane. F3 has announced a transaction pursuant to which it will transfer 17 of its prospective uranium exploration properties to F4 in exchange for common shares of F4 which will be distributed to F3 shareholders based on one F4 Share for every common share of F3 held; the F4 shares will then be rolled back at a rate of 10 to 1. F3 will retain the PLN Project consisting of the PLN, Misto and Broach properties. The Broach property incorporates the PW property which it obtained from CanAlaska as the result of a property swap.

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 the 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/219549

Categories
Base Metals Breaking Junior Mining

F3 Shareholders Approve F4 Spin Out

Kelowna, British Columbia–(Newsfile Corp. – August 9, 2024) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce the outcome of the Special Meeting of F3 Securityholders held on Thursday August 8, 2024, at 10am PT in Kelowna BC at 750 1620 Dickson Avenue, V1Y 9Y2. At the meeting, shareholders voted in favor of the spin-out of F4 Uranium Corp. (‘F4”) pursuant to the statutory plan of arrangement (the “Arrangement”) under Section 192 of the Canada Business Corporations Act.

The total number of eligible votes was 493,352,709 and the total number voted was 177,908,715 being 36.06% of the total number of eligible votes. Three resolutions were voted upon by F3 Securityholders. The Arrangement Resolution involves, among other things, the distribution of common shares of F4 Uranium Corp. to shareholders of F3 Uranium Corp. based on one F4 common share for each common share of F3 held on the effective date of the Arrangement.  The F4 shares will then be rolled back at a rate of 10 to 1. The Arrangement Resolution was approved without variation with 79.81% voting FOR. The F4 Option Plan Resolution was not approved with 53.64% voting AGAINST, and the F4 Equity Incentive Plan was approved with 78.41% voting FOR.

The Arrangement remains subject to final approval of the Supreme Court of British Columbia (the “Court”) scheduled for August 13, 2024, and acceptance from the TSX Venture Exchange, and is expected to be completed on or about August 15, 2024. F4 has applied to list its common shares on the TSX Venture Exchange.

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 discoveries. F3 Uranium currently has 20 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane. F3 has announced a transaction pursuant to which it will transfer 17 of its prospective uranium exploration properties to F4 in exchange for common shares of F4 which will be distributed to F3 shareholders based on one F4 Share for every common share of F3 held; the F4 shares will then be rolled back at a rate of 10 to 1. F3 will retain the PLN Project consisting of the PLN, Misto and Broach properties. The Broach property incorporates the PW property which it obtained from CanAlaska as the result of a property swap.

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 the 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/219283

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

EMX Executes Agreement to Sell Its Sulitjelma Project to Alpha Future Funds

Vancouver, British Columbia–(Newsfile Corp. – August 8, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce the execution of an exploration and option agreement for its Sulitjelma Project in Norway to Alpha Future Funds S.C.S, a private Luxembourg based company (“Alpha”). The agreement provides EMX with a cash payment and work commitments during a one-year option period, and upon exercise of the option, EMX will receive additional deferred option payments, advance royalty payments, milestone payments and a 2% NSR royalty.

The Sulitjelma project is a past producer of copper-rich polymetallic mineralization from a cluster of volcanogenic massive sulfide (“VMS”) style deposits in the greater Sulitjelma district of north-central Norway. Alpha is a well-capitalized investment fund with its own technical team that seeks to revitalize the Sulitjelma district through additional investment and exploration. Alpha is also reviewing other EMX projects throughout the region for additional acquisition opportunities.

Commercial Terms Overview. EMX will receive US$50,000 upon execution of the agreement, and Alpha can acquire a 100% interest in the project by satisfying specified work commitments by the end of the first anniversary of the agreement. Upon exercising the option Alpha will:

  • Make additional cash payments to EMX as deferred option payments.
  • Spend a cumulative of $4,000,000 on the project by the 5th anniversary of the agreement.
  • Pay annual advance royalty payments commencing after the deferred option payments are complete.
  • Grant EMX an uncapped 2% NSR royalty on the project.
  • Deliver certain milestone payments tied to anniversary dates and the commencement of commercial production.

Overviews of the project. The Sulitjelma polymetallic project in Norway is located in the early Paleozoic VMS belt in north-central Norway, which saw numerous districts and mines in operation from the 1600’s through the 1990’s.

Sulitjelma District, Central Norway: The Sulitjelma VMS district was discovered in 1858 and was mined continuously from 1891-1991. The Sulitjelma mines were some of the last operating base metal mines in Norway and one of its most significant historic mining areas. VMS style mineralization occurs along a trend that extends for over 20 kilometers and is developed along multiple stratigraphic horizons and structurally repeated sections. The district produced over 25 million tonnes averaging 1.84% copper, 0.86% zinc, 10 grams per tonne silver and 0.25 grams per tonne gold1. Significant historical resources were left unmined at the time of closure in the early 1990’s.

The district has seen very little work since the mines closed. Reinterpretation of airborne geophysical surveys, including a Versatile Time Domain Electromagnetics (VTEM) survey collected in 2014, highlighted multiple conductive anomalies along the main trend of mineralization that have not yet been drill tested, and EMX geologists have found outcropping expressions of VMS style mineralization, also along trend, that have not been developed or drill tested.

Over the past few years EMX has compiled and digitized the available historical data to create 3D models of the historical mine workings on the property. EMX also conducted extensive soil sampling campaigns and identified drill targets for the next phase of exploration. These targets include projections of mineralization down dip and along strike of the historic mine workings as well as newly identified electromagnetic (“EM”) anomalies. Additionally, EMX recognized that the VMS horizon appears to be repeated in fold limbs to the west of the original property position, which has since been expanded.

This transaction is another example of the execution of EMX’s business model in providing turn-key and drill ready exploration projects to its partner companies in exchange for royalty interests.

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

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

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

About EMX – EMX is a precious, 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

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location map

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Figure 2. Mines and Trends of Mineralization

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1Historical production data from the Geological Survey of Norway (NGU) Ore Database, Deposit Area 1841-024, updated Dec 18, 2017.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219173

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Completes Acquisition and Interpretation of Aeromagnetic Drone Survey at the Cecilia Project in Sonora, Mexico

Upcoming exploration to focus on new magnetic anomaly.

Vancouver, British Columbia–(Newsfile Corp. – August 7, 2024) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to update progress on the Cecilia project where Riverside is working with Fortuna Mining Corp (TSX: FVI) (see March 13, 2024 press release). The Company has completed detailed magnetic susceptibility data acquisition for the entire project area and identified a new magnetic anomaly area of 6 x 2 km² in the southwest part of the project. The company believes this area displays many classic structural controls similar to the mineralization found at the main Cerro Magallanes target area of the project and can become an additional focus of the upcoming exploration activities as well as the already permitted and planned upcoming drill program that is fully funded and scheduled to start in early Q4, 2024.

The current technical work program is completing now as the project moves next to drill testing. The work that has been completed for evaluating and improving drill targets includes geophysics, geochemistry and geology being integrated. The Cecilia Project has good road access with the project located 40 km southwest of Agua Prieta (Mexico-USA border) and 250 km northeast of the capital city of Hermosillo. The project is a titled and 100% Riverside-owned, with drill permits and the ability to progress the drilling in the coming months. The property is a district-scale gold and silver, low-sulfidation epithermal system and is currently optioned with Fortuna Mining earning an initial ownership position through a series of payments and work commitments where Riverside remains as the operator of the exploration program as disclosed in March. The project covers over 60 km² and has over 10 different exploration targets, with at least two nested dome complexes similar to those in Peru at the Yanacocha Mining District and in Bolivia at the Korri Kollo Mine, which have produced well over 25M and 5M oz of gold respectively. The use of aeromagnetics helps further distinguish these targets.

John-Mark Staude, CEO of Riverside, states, “We are delighted to receive this excellent and detailed aeromagnetic survey for the entire 60 km² area from our work with Fortuna Mining on the Cecilia district exploration. We had full access to the surface for conducting field follow-up allowing the project to progress significantly over the past 6 months. Further, the discovery of a new anomaly is an exciting development and we look forward to undertaking additional exploration work on this discovery over the coming months as well as the fully funded drilling. Having the drill permit, mineral title and funding with a partner aligned in our exploration creates the platform for potential success with drilling activities proceeding in the near term. We look forward to the drill turning and having results from this project as well as updates on other activities that are underway into the fourth quarter of 2024.”

Riverside has completed the acquisition of aeromagnetic data expanding on an earlier and more focused survey where Riverside drilled and intersected gold mineralization. The new UAV magnetic data now covers the entire Cecilia project area of 60 km² with Riverside having full access to the entire property featuring a total flying of 658 line kilometers. Using this new, higher resolution magnetic data aids in interpreting and refining previous targets identified by Riverside. The results identified strong NW-trending magnetic lineaments in the southwestern corner of the project area (Figure 1). This data was not available in earlier results whereby the Company now has access to this region for the first time. This new magnetic anomalous area reflects a strong NW-trend which is similar to the main previously mined and drilled Au-mineralization structural trends like the San Jose Structural trend and Mesa Target (Figure 1A). Additionally, these lineaments bound the Magallancito dome and may be related to sharp contacts or fault-related contacts of intrusions around this target. Such strong structural features are typical of other major mining dome districts including Yanacocha, Peru and Mulatos, Sonora.

Some perpendicular magnetic lineaments in the project appear to define NE-trending zones along strike that generally serve as the main mineralization controls in the district and at surface have associated occurrences of Au-Ag mineralization (e.g. Agua Prieta Trend, Figure 1B). The new areas provide additional future focuses further expanding the planned program and continuing to grow the targeting of the project. Structural intersections in the mineralized dome districts of Mexico and other countries such as in Peru, Bolivia and USA often define focused locations of geologic faults which can provide fluid pathways for higher grade hydrothermal breccias and mineralization.

The acquisition and processing of the magnetic data were completed by Zonge International, Inc. This resulted in the merging and leveling of the historic UAV databases acquired recently by Riverside in the Magallanes Target, producing various merged data interpretations including; total magnetic intensity, reduction to the pole, 1st vertical derivative, and tilt derivative of the reduction to the pole processing’s. The updated 3D inversion model helps delineate the targets at depth and is being used for modeling drill collars and plans for upcoming drilling. This drilling is expected to start in the fourth quarter of 2024, with Fortuna Mining as the funding partner.

Figure 1.
A. Updated 1:10.000 geological map of the Cecilia project.
B. New target area at Magallancito over Total Magnetic Intensity (TMI) Reduced to North Pole map. The target areas dashed with scales of multiple kilometers.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/219104_17c80cf5a451ea58_002full.jpg

About the Cecilia Project:

Riverside Resources owns the project and 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 24.2 meters at 1.51 grams per ton of gold (April 15, 2021 press release) within the rhyodacite dome, showcasing the property’s gold at shallow depths which also has been mined in over a dozen locations including some substantial small scale underground prospect mining. The project has potential to follow these intercepts and go for larger targets at depth is the next planned drilling activity.

One distinguishing aspect of this project is the potential to preserve a fertile dome system. The Magallanes Target, situated at the central part of the project, exhibits interaction within extensive NE and NW structures, presenting a compelling opportunity for the discovery of epithermal gold-silver style mineralization. This geological scheme of the Cecilia Project resembles the Tertiary-age rhyolite systems, like the La Pitarrilla Ag-Pb-Zn project (~800M oz AgEq*) and Fresnillo’s San Julian Ag-Au Mine (~350M oz AgEq**), both situated in Durango, Mexico in the similar Sierra Madre Volcanic Province to Cecilia.

*Mineral Resource estimate for the Pitarrilla Ag Pb Zn Project, Durango, Mexico, SSR Mining, March, 2023.

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

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and approved by Julian Manco, P.Geo, a non-independent qualified person to Riverside Resources focusing on the work in Sonora, Mexico, who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219104

Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Grizzly Announces Closing of Initial Tranche of Private Placement

Edmonton, Alberta–(Newsfile Corp. – July 31, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces that it has closed on an initial tranche of the private placement (the “Offering”) of Units and Flow-Through Units originally announced on June 20, 2024 and extended on July 19, 2024.

The Company issued a total of 6,157,668 Units and 700,000 FT Units, each at a price of $0.03, for aggregate gross proceeds of $205,730.

Each Unit consists of one common share of the Company (“Common Share”) and one non-transferrable common share purchase warrant (“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. Each Flow-Through Unit consists 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 proceeds of $184,730 from the sale of Units in this tranche are intended to be used for general working capital and corporate overhead, including the payment of management fees to officers of the Company, and the proceeds of $21,000 from the sale of FT Units will be reserved for mineral property exploration.

No commissions or finder’s fees were paid with respect to this tranche of the Offering.

The Offering remains open, with 10,509,000 Units and 16,966,668 FT Units remaining under the maximum Offering, until August 18, 2024.

The Offering is subject to final approval from the TSX Venture Exchange.

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 base metals properties in southeastern British Columbia. Grizzly is run by a 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

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 under the Company’s SEDAR+ profile 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. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218450View Comments

Categories
Base Metals Energy Junior Mining

US must expand nuclear arsenal in face of Russia and China threat, warns top Obama defense adviser

Security officials are sounding the alarm that the U.S.’s post-Cold War approach to countering a nuclear Russia is no longer enough as China, North Korea and Iran look to bolster their nuclear capabilities. 

Related to this article is our interview regarding Nuclear/Uranium.

“For far too long, the United States has ignored revitalizing its nuclear arsenal. China and Russia have expanded their nuclear arsenals to achieve nuclear parity – if not advantage – over the United States by the 2030s,” Robert Peters, former special adviser for countering weapons of mass destruction within the Obama administration’s Office of the Secretary of Defense told Fox News Digital.

“Inaction is not an option. A world where the United States suffers nuclear disadvantage, while our adversaries enjoy nuclear advantage, is a world where nuclear war is more likely.”

In the Heritage Foundation report titled “Building the Nuclear Arsenal of the 21st Century,” first obtained by Fox News Digital before its release Tuesday, Peters highlights the dangers the U.S. faces in the wake of failed nuclear agreements and the increasingly tense geopolitical reality that Washington and its Western allies must confront.

Putin Biden nuclear

Peace activists wearing masks of Russian President Vladimir Putin and President Biden pose with mock nuclear missiles in front of Berlin’s Brandenburg Gate on Jan. 29, 2021.  (John MacDougall/AFP via Getty Images)

RARE DISPUTE REVEALS CHINA AND NORTH KOREA’S ONGOING DISCORD OVER NUCLEAR WEAPONS

Peters, now a research fellow for nuclear deterrence with Heritage, argued the U.S. needs to abandon its long sought after policy of global nuclear disarmament, and instead Washington needs to “expand and diversify” its strategic arsenal.

The nuclear expert said expansions to the U.S.’s nuclear force posture should include creating a larger ballistic missile submarine force and increasing warheads on ground-based strategic deterrents.

Peters also said Washington should immediately “upload non-strategic nuclear warheads” from its ready reserve stockpiles for “existing theater capabilities.”

The U.S. has over 1,300 “retired” warheads that have been removed from the active stockpile, but which have not yet been dismantled, according to the Arms Control Association. Russia has 1,200 “retired” warheads. 

“These immediate steps are stopgap measures until the nuclear enterprise is able to produce plutonium pits and nuclear warheads at scale – at a rate of 80 per year by 2030 and 200 per year by 2035 – for the next generation of non-strategic nuclear weapons that are fit to purpose and meet military requirements,” Peters detailed in his report

Nuclear mushroom cloud

A mushroom cloud rises during a nuclear weapons test on Bikini Atoll, Marshall Islands, in 1946. (U.S. Library of Congress/Handout via Reuters)

The report also encouraged updates to U.S. force posture by “potentially” stationing additional U.S. nuclear weapons across Europe, as well as introducing them to the Western Pacific. 

Concerns over nuclear security have been mounting for more than a year after Moscow pulled out of the 2010 New START treaty signed by President Obama and Russian President Vladimir Putin in 2023.

The 2010 treaty expanded the original Strategic Arms Reduction Treaty (START) signed in 1991 by President George H. W. Bush and Soviet Union leader Mikhail Gorbachev – which began clearing out nuclear stockpiles.

The treaty signed in 2010 limited the number of warheads the U.S. and Russia could have deployed on delivery systems like intercontinental ballistic missiles, submarine-launched ballistic missiles or heavy bombers to no more than 1,550. 

Putin’s decision to pull out of the nuclear agreement came after security officials had been flagging Moscow’s failure to adhere to the deal and coincided with a visit from Chinese President Xi Jinping, who has repeatedly refused to engage in any nuclear negotiations with the U.S.

RUSSIA’S KREMLIN URGES ‘IN-DEPTH DIALOGUE’ TO EASE RISING NUCLEAR TENSIONS WITH THE WEST

Russian missile test

This photo taken from video provided by the Russian Defense Ministry Press Service on Feb. 19, 2022, shows a Yars intercontinental ballistic missile being launched from an air field during military drills in Russia.

The U.S. and Russia still account for 90% of the world’s nuclear stockpiles, with Washington accounting for 5,044 warheads while Russia has 5,580. 

China’s unchecked nuclear expansion has been drawing concern for years, though for now Beijing is still believed to have just 500 warheads in its stockpiles.

North Korea is reported to have 50 nuclear warheads.

France, the U.K., India, Pakistan and Israel all reportedly contribute to the more than 12,100 warheads worldwide. 

The strategy of deterrence was established during the Cold War between Washington and Moscow due to the threat of mutually assured destruction should there ever be a nuclear conflict.

This strategy still persists today, but thanks to technological advances of low-yield nuclear weapons, other strategic factors now affect nuclear force posture. 

“Deterrence through threats of punishment is necessary, but not sufficient for the threats the United States faces,” the report said, arguing a new approach will strengthen U.S. deterrence by also eliminating potential “escalation pathways” for Washington’s adversaries. 

Since the end of the Cold War, American leaders on both sides of the political spectrum have sought nuclear disarmament with Russia and other nations as the safest path forward in preventing a catastrophic nuclear event. 

But Peters argued this strategy is no longer viable given an increasingly hostile international reality. 

Vladimir Putin and Kim Jong Un

Russia’s President Vladimir Putin and North Korea’s leader Kim Jong Un visit the Vostochny Сosmodrome in the far eastern Amur region, Russia, Sept. 13, 2023. (Sputnik/Mikhail Metzel/Kremlin via Reuters/File Photo)

“The United States will not abandon arms control or nonproliferation goals – but it must recognize that for the time being, the global security environment does not lend itself to treaty-based arms control or other non-treaty-based risk reduction or confidence building measures,” the report said. 

The report, which is intended to be shared with the incoming administration following the November election no matter who is the victor, acknowledges that nuclear deterrence is an expensive aspect of U.S. national security, but one that is far more affordable than countering a nuclear war. 

CLICK HERE TO GET THE FOX NEWS APP 

“None of this will be inexpensive. Nuclear weapons currently account for between 5 and 6% of the Department of Defense budget,” the report said, detailing that the proposed changes would likely add another 1% to 2% to total defense budget.

“Ultimately, deterring great power war – particularly nuclear war – is far less expensive than actually fighting one.,” the report said. “To prevent a war and ultimately prevent strategic attack… the United States must build and field a nuclear arsenal that is credible.”

Original Source: https://www.foxnews.com/world/us-must-expand-nuclear-arsenal-face-russia-china-warns-obama-wmd-advisor

Categories
Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Announces Early Exercise of Warrants for $4.9 Million Gross Proceeds

Vancouver, British Columbia–(Newsfile Corp. – July 30, 2024) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce that it has secured funding of CAD $4,875,000 through the 100% early exercise of 37,500,000 common share purchase warrants. These warrants were issued at an exercise price of CAD $0.13 per share, with a 36 month term, in connection with the Company’s non-brokered private placement, which closed on November 17, 2023.

Michael Henrichsen, CEO of Goldshore commented, “The exercise of these warrants provides a significant boost to our treasury, securing funding through the completion of the Preliminary Economic Assessment (“PEA”) expected in Q1 2025 and supporting the acceleration of our strategic plan to unlock the full value and potential of the Moss Gold Deposit. I would like to extend my sincere thanks to members of the SAF Group, insiders, and all close associates that participated in this warrant exercise for their continued support.”

Issuance of RSUs

The Company has also issued 150,000 restricted share units (“RSUs“) to Shawn Khunkhun, a director of the Company. The RSUs will fully vest on July 29, 2025, one year from the date of grant. Once vested, each RSU represents the right to receive one Common Share, the equivalent cash value thereof, or a combination of the two, at the Company’s discretion. The issuance of RSUs have been made in accordance with the Company’s Omnibus Incentive Plan (the “Plan“) that was approved by the Company’s shareholders on January 23, 2024.

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 fast track through this development cycle. 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 timing of completion and release of an updated preliminary economic assessment, the timing and completion of a strategic permitting plan 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; 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; and the impact of COVID-19.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218197

Categories
Base Metals Energy Junior Mining Precious Metals

Nations Royalty Provides Update on Royalty Interest: The KSM Deposit Receives “Substantially Started” Designation

VANCOUVER, BC, July 30, 2024 /CNW/ – Nations Royalty Corp. (“Nations Royalty” or the “Company“) (TSXV: NRC) is pleased to be informed that the British Columbia Provincial Government has granted ‘Substantially Started’ designation for Seabridge Gold Inc.’s (“Seabridge“) KSM Project, located in the Golden Triangle of northwest British Columbia.

The Substantially Started designation allows for the KSM Project’s Provincial Environmental Assessment Certificate (“EAC“) to be valid in perpetuity over the life of the KSM Project and is no longer subject to expiry. With this designation, KSM is the largest, permitted copper-gold development project in the world. The deposit hosts 47.3M ounces of Au and 7.3B pounds of Cu in Proven and Probable Reserves1. According to Seabridge’s news release dated July 26, 2024, Seabridge has spent over $800 million to advance the KSM Project since the EAC was issued. Development completed to date includes significant work such as road and power infrastructure, as well as camp construction.

Nations Royalty holds the right to receive an annual benefit payment entitlement on the KSM Project that is calculated by reference to the amount of tax payable by the project operator under the Mineral Tax Act (British Columbia) for the life of the KSM Project (the “KSM Payment Entitlement“). The KSM Payment Entitlement was negotiated by the Nisga’a Nation and recently contributed to Nations Royalty as part of a royalty portfolio (see the Company’s news release dated June 20, 2024). The Nisga’a Nation is a founder and the major shareholder of Nations Royalty.

“Nations Royalty wishes to congratulate Seabridge and acknowledge the work completed by the Government of British Columbia, as well as the thorough consultation with Indigenous Groups and nearby communities, including Nisga’a and Tahltan,” said Kody Penner, Vice President of Corporate Development for Nations Royalty. “We look forward to all groups continuing to work together to advance the KSM Project and fruitful outcomes to Seabridge’s joint venture discussions. Our Payment Entitlement, on the large, long-life copper-gold-silver-molybdenum Deposit, is a core piece of the foundation for the future success of Nations Royalty.”

KSM Project Proven and Probable Mineral Reserves as of May 26, 20221

Diluted GradesContained Metal
Ore
(Mt)		Au(g/t)Cu
(%)		Ag
(g/t)		Mo
(ppm)		Au
(Moz)		Cu
(Mlb)		Ag
(Moz)		Mo
(Mlb)
Proven1,2970.710.152.47529.64,20398215
Probable9950.550.141.97717.73,11662170
Total Proven & Probable2,2920.640.142.27647.37,320160385
1.Source KSM (Kerr-Sulphurets-Mitchell) Prefeasibility Study and Preliminary Economic Assessment, Prepared for Seabridge Gold Inc. August 8, 2022. The Mineral Reserve Estimates were reviewed by Jim Gray, P.Eng. (who is also the Independent Qualified Person for these Mineral Reserve Estimates) reported using the 2014 CIM Definition Standards and 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and have an effective date of May 26, 2022.


About Nations Royalty Corp.

The Company’s vision is to unite First Nations and Indigenous groups across Canada, welcoming external investors to join the Company as shareholders. Together, they will combine royalties, income and commodity streams and annual benefit payment entitlements from resource projects, tapping into the growth, diversification and value potential typical of publicly traded royalty companies. As a leader in the spirit of economic reconciliation, Nations Royalty’s mission includes capacity building of Indigenous People in public companies and capital markets.

Nations Royalty’s foundation begins with the right to receive five annual payment entitlements in place in respect of the following properties in Canada:

  • The high-grade Brucejack gold mine operated by Pretium Resources Inc., a wholly-owned indirect subsidiary of Newmont Corporation, a large underground gold mine;
  • The KSM Copper-Gold-Silver-Molybdenum deposit, currently in development by Seabridge Gold Inc.;
  • The Premier Gold Project, currently being commissioned by Ascot Resources Ltd. with first gold pour completed in April 2024;
  • The Red Mountain Gold Deposit, owned by Ascot Resources Ltd.; and
  • The Kitsault Molybdenum Deposit, a large, fully permitted brownfield site owned and being actively advanced by New Moly LLC, majority-owned by Resource Capital Fund VI L.P.

Qualified Person

Andrew Hamilton, P.Geo, a “qualified person” within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the technical disclosure in this press release.

On behalf of the Board of Directors of Nations Royalty Corp.

“Robert McLeod”
Chief Executive Officer

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.

Technical and Third-Party Information

Except where otherwise stated, the disclosure in this news release relating to the KSM Project is based on information publicly disclosed by the owners or operators of this property and information/data available in the public domain as at the date hereof and none of this information has been independently verified by Nations Royalty or its qualified person. Specifically, as the holder of the KSM Payment Entitlement, Nations Royalty has limited, if any, access to the KSM Project. Although Nations Royalty does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate.

Cautionary Statement Regarding Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words, or variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this news release include information relating to: the business plans, mineral reserves, objectives and expected outcomes of Nations Royalty and the projects in which Nations’ Royalty holds an interest, including the advancement of the KSM Project. Such forward-looking information is based on the Company’s expectations, estimates and projections as at the date of this news release.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern, risks associated with potential governmental and/or regulatory action with respect to the Company’s operations and the potential inability of the Company to implement its business plan going forward, risks of mineral reserve estimates not being accurate, risks related to the absence of control over mining operations from which Nations Royalty will receive annual benefit payments and risks related to those mining operations, with respect to the KSM Project, the risk that the opportunities for the advancement of the KSM Project may not materialize, the KSM Project does not ultimately go into production, and potential joint venture partners not favourably concluding joint venture discussions, and the other risks and uncertainties applicable to the Company’s business as set forth in the Company’s management discussion and analysis and its Filing Statement dated June 14, 2024, both of which are available for viewing under the Company’s profile at www.sedarplus.ca. Such statements and information reflect the current view of the Company and are based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the advancement of the KSM Project and receipt of the annual benefit payment. The Company has also assumed that no significant events will occur outside the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

SOURCE Nations Royalty Corp.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/July2024/30/c8230.html

Categories
Base Metals Energy Junior Mining

F3 Hits 2.5m of 18.6% U3O8 within 3.2% over 15.0m at JR Zone

Kelowna, British Columbia–(Newsfile Corp. – July 30, 2024) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce final assay results from the winter 2024 drill program, including PLN24-137 which was cored in the JR Zone (see NR April 16, 2024) and which returned 15.0m of 3.2% U3O8, including a high grade 2.5m interval averaging 18.6% U3O8, further including the ultra-high grade core with 1.5m of 30.3% U3O8.

Exploration geochemistry for the continuing summer drill program has also been received up to hole PLN24-152 which focused on drill testing both the A1 main shear, as well as a related fault splay termed the “North Horse” grid south of the cross-cutting Harrison Fault, a significant structure corresponding to a vertical offset of approximately 130m. Two radioactive intervals (see NR June 12, 2024) corresponding to the main A1 and North Horse structures respectively yielded the strongest exploration geochemistry results outside of JR Zone to date, with the main A1 intersect assaying 0.045% U3O8, and the North Horse intersect assaying 0.014% U3O8 over 7 meters including 0.051% U3O8 over 0.5m (see Photo 1).

A series of shorter exploration drill holes have been completed on the main A1 shear infilling gaps, and although there are multiple areas warranting follow up, exploration drilling in the near term will focus on the areas near Harrison Fault, and to the southeast.

Sam Hartmann, Vice President Exploration, commented:

“We are very pleased with these ongoing results. Drillhole PLN24-152 stands out with the strongest geochemistry signatures to date outside of the JR Zone and represents one of the highest priority exploration targets for follow up. This hole targeted the intersect of the Harrison Fault and the A1 Main shear zone just south of the Harrison Fault. Targeting in this area now includes the Harrison Fault itself, and the areas of shear intersections with it. We are persistent in our efforts to hone in on potential high-grade mineralization indicated by encouraging results from our systematic drilling in this area.”

Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/218187_f3jul302024figure1full.jpg

Winter 2024 JR Zone Assay Highlight:

PLN24-137 (line 040S):

  • 15.0m @ 3.2% U3O8 (202.5m to 217.5m), including:
    • 2.5m @ 18.6% U3O8 (214.0 to 216.5m), further including:
    • 1.5m @ 30.3% U3O8 (214.5 to 216.0m)

Summer 2024 Exploration Geochemistry Highlights:

PLN24-152 (line 2850S) A1 Exploration, south of Harrison Fault:

  • 2.0m @216 ppm U, 0.024% U3O8 (351.0m to 353.0m), including
    • 0.5m@ 409 ppm U, 0.045% U3O8 (352.0m to 352.5m), and
  • 7.0m @ 107 ppm U, 0.014% U3O8 (434.5m to 441.5m), including
    • 0.5m @ 412 ppm U, 0.051% U3O8 (440.5m to 441.0m)

Photo 1. PLN24-152 Mineralized Intervals

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Table 1. Drill Hole Summary and Uranium Assay Results

Collar InformationAssay Results
Hole IDGrid LineEastingNorthingElevationAzDipFrom
(m)		To
 (m)		Interval
(m)		U3O8 weight %
PLN24-132090S587708.06410637.5545.655.0-58.1no mineralization >0.05
PLN24-1332850S589506.96408515.5529.355.0-71.7B1 Exploration; no mineralization >0.05
PLN24-134435S587868.16410326.1530.753.6-64.6B1 Exploration; no mineralization >0.05
PLN24-1353240S589630.46408142.8535.452.1-70.3B1 Exploration; no mineralization >0.05
PLN24-136630S588165.66410302.3536.354.4-58.7A1 Exploration; no mineralization >0.05
PLN24-137040S587780.26410753.3545.655.4-75.0202.50214.0011.500.13
214.00216.502.5018.61
incl214.50216.001.5030.27
216.50217.501.500.26
PLN24-1382850S589493.86408505.0530.151.8-76B1 Exploration; no mineralization >0.05
PLN24-139795S588289.36410186.5532.654-59A1 Exploration; no mineralization >0.05
PLN24-1402325S589060.26408857.6543.955.7-60A1 Exploration; no mineralization >0.05
PLN24-1413240S589622.46408136.8535.557.7-73B1 Exploration; no mineralization >0.05
PLN24-1422850S589560.66408554.7530.553.5-76B1 Exploration; no mineralization >0.05
PLN24-1432325S589059.06408856.8543.954.7-67B1 Exploration; no mineralization >0.05
PLN24-1442820S589485.36408554.4529.654.1-75B1 Exploration; no mineralization >0.05
PLN24-1452325S589095.36408883.2543.952.9-66A1 Exploration; no mineralization >0.05
PLN24-1462850S589424.56408454.7533.350.7-78B1 Exploration; no mineralization >0.05
PLN24-1472370S589105.96408835.4543.756.9-70A1 Exploration; no mineralization >0.05
PLN24-1482280S589072.16408921.7543.955.5-74A1 Exploration; no mineralization >0.05
PLN24-149795S588316.16410208.7530.853.9-59A1 Exploration; no mineralization >0.05
PLN24-1501125S588460.16409904.8533.358.1-70A1 Exploration; no mineralization >0.05
PLN24-1511530S588676.06409561.0544.554.1-70A1 Exploration; no mineralization >0.05
PLN24-1522850S589259.26408356.8537.253.1-68440.54410.50.051

Assay composite parameters:

1: Minimum Thickness of 0.5 m
2: Assay Grade Cut-Off: 0.05% U3O8 (weight %)
3. Maximum Internal Dilution: 2.0 m

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.

Composited weight % U3O8 mineralized intervals are summarized in Table 1. 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 thickness are yet to be determined.

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare 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 discoveries. F3 Uranium currently has 20 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane. F3 has announced a transaction pursuant to which it will transfer 17 of its prospective uranium exploration properties to F4 in exchange for common shares of F4 which will be distributed to F3 shareholders on the basis of one F4 Share for every common share of F3 held; the F4 shares will then be rolled back at a rate of 10 to 1. F3 will retain the PLN Project consisting of the PLN, Misto and Broach properties. The Broach property incorporates the PW property which it obtained from CanAlaska as the result of a property swap.

Figure 2

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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

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