Category: Precious Metals

EMX Royalty Announces Q1 2025 Results; Significant Increases in Royalty Revenue, Adjusted Royalty Revenue and Adjusted EBITDA

Post author By admin
Post date May 12, 2025

Vancouver, British Columbia–(Newsfile Corp. – May 12, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to report results for the three months ended March 31, 2025 (in U.S. dollars unless otherwise noted). EMX delivered revenue and other income of $8.4 million, adjusted royalty revenue¹ of $10.8 million and adjusted EBITDA¹ of $7.1 million.

Dave Cole, EMX CEO, commented, “For the first quarter of 2025 we achieved exceptional growth in adjusted royalty revenue and adjusted EBITDA, completed the acquisition of an additional royalty interest in the Chapi Mine, and strengthened our financial position through disciplined capital management, and opportunistic share buybacks. With rising commodity prices, growing revenue and a strong balance sheet, including a $10.0 million debt repayment made subsequent to the end of the quarter, we have great momentum as we continue into the second quarter of 2025.”

Q1 2025 Financial Highlights

Adjusted royalty revenue¹ of $10.8 million, up 40% over comparative quarter;
Adjusted EBITDA¹ of $7.1 million, up 120% over comparative quarter, demonstrating strong cash flow conversion; and
Cash and cash equivalents as of March 31, 2025 of $19.2 million and a working capital¹ surplus of $36.1 million, demonstrating financial flexibility for growth.

		Three months ended March 31,
(In thousands)		2025			2024
Statement of Income (Loss)
Revenue and other income	$	8,422		$	6,240
General and administrative costs		(2,170	)		(2,148	)
Royalty generation and project evaluation costs, net		(2,502	)		(2,934	)
Net income (loss)	$	1,260		$	(2,227	)
Statement of Cash Flows
Cash flows from operating activities	$	1,289		$	1,027
Non-IFRS Financial Measures¹
Adjusted revenue and other income	$	11,428		$	8,293
Adjusted royalty revenue	$	10,751		$	7,657
Adjusted cash flows from operating activities	$	2,906		$	2,661
EBITDA	$	4,892		$	1,249
Adjusted EBITDA	$	7,101		$	3,223
GEOs sold		3,756			3,696

Summary of Financial Highlights for the Quarter Ended March 31, 2025 and 2024:

Key Strategic Developments

During the three months ended March 31, 2025, and the period subsequent to quarter end, EMX has completed several key transactions that demonstrate our strategy of incremental revenue growth and disciplined capital management as we move into 2025. These key developments include:

Completed the acquisition of an additional 1% NSR royalty on the Chapi Copper Mine in Peru for a purchase price of $7.0 million, totaling a 2% NSR for $10.0 million, which we expect will begin contributing revenue to EMX in 2026;
Completed the acquisition of a 0.625% NSR royalty interest covering all minerals produced from the Urasar gold-copper project being advanced by Hayasa Metals Inc.;
In April 2025, the Company received an early Diablillos property payment from AbraSilver Resource Corp. totaling $6.9 million;
In April 2025, the Company made a $10.0 million early repayment towards the Franco-Nevada credit facility, decreasing the principal outstanding from $35.0 million to $25.0 million; and
We repurchased and cancelled 1,479,792 shares during the quarter, totaling 5,000,000 common shares repurchased and cancelled, completing the original Normal Course Issuer Bid (“NCIB”) program. The Company commenced a new NCIB program during the quarter which allows the repurchase and cancellation of an additional 5,440,027 common shares over a 12-month period. Subsequent to the end of the period, the Company repurchased 1,201,892 common shares under the new NCIB for a total cost of $2,493,000.

Outlook

The Company is maintaining its 2025 guidance² of GEOs sales of 10,000 to 12,000, adjusted royalty revenue of $26,000,000 to $32,000,000 and option and other property income of $1,000,000 to $2,000,000.

Capital Management

For 2025, EMX has established the following capital allocation goals for 2025:

Approximately 20% decrease in operating expenditures when compared to 2024, primarily resulting from a decrease in generative expenditures, weighted toward the second half of 2025;
Continued return of capital through our renewed Normal-Course Issuer Bid program in 2025;
Implementation of a measured and consistent debt repayment strategy; and
Evaluation of a potential revolving credit facility available to EMX to fund royalty acquisitions.

Portfolio Growth

The drivers for near and long term growth in cash flow will come from the material producing assets at Caserones in Chile and Timok in Serbia. At Caserones, Lundin Mining Corporation (“Lundin”) has initiated an exploration program which is intended to expand mineral resources and mineral reserves while at the same time looking to increase throughput at the plant. At Timok, Zijin Mining Group Co. (“Zijin”) continues to develop the Lower Zone copper porphyry block cave project while continuing to produce from the high-grade Upper Zone. Zijin also announced the recently discovered high-grade Malka Golaja Copper-Gold Deposit south of the Cukaru Peki mine and within EMX’s royalty footprint. Analysis of recent satellite imagery over the Brestovac license, which contains the Cukaru Peki Mine and is covered by EMX’s royalty, shows substantial development of new drill pads with numerous drill rigs visible in the images in the southeast corner of the license where Malka Golaja is located.

We anticipate the recently announced $10,000,000 acquisition of a royalty on the Chapi Copper Mine property in Peru will begin contributing to royalty revenue in 2026. We are excited by the addition of a high-quality copper royalty to the portfolio that has excellent upside development and exploration potential located in the prolific Paleocene-Eocene copper-molybdenum porphyry belt of Southern Peru.

In Türkiye, at Gediktepe, ACG Metals announced that the Sulphide Expansion Project remains on schedule for commissioning in Q1 2026, with no delays or cost overruns, reinforcing Gediktepe’s transition into a long-life, low-cost copper producer.

AbraSilver Resource Corp. continues to advance Diablillos in Argentina and announced that it expects to complete its definitive feasibility study by Q1 2026 and make a construction decision in the second half of 2026. At the Viscaria copper-iron-silver development project in Sweden, the Supreme Court of Sweden announced in April 2025 it will not grant leave to appeal Viscaria’s environmental permit. This decision means that Viscaria’s environmental permit can no longer be appealed and thus gains legal force. Viscaria now has all permits in place to start the construction of the industrial area including the enrichment plant, and to start operations in the mine. These developments are all examples of the upside optionality that exists throughout EMX’s global royalty portfolio.

EMX is well positioned to identify and pursue new royalty and investment opportunities, while continuing to grow a pipeline of royalty generation properties for partnership. As the Company continues to generate revenues from its producing royalty assets as well as from other option, advance royalty and pre-production payments across its global asset portfolio, various opportunities for capital redeployment will be evaluated. Such opportunities may include the direct acquisition of royalties, continued organic generation of royalties through partner funded projects and select strategic investments.

First Quarter Results for 2025

In Q1 2025, the Company recognized $11.4 million and $10.8 million in adjusted revenue and other income³ and adjusted royalty revenue³, respectively, which represented a 38% and 40% increase, respectively, compared to Q1 2024. The increase is largely due to a $1.3 million increase in royalty revenue from Gediktepe and a $1.0 million increase in royalty revenue from Caserones when compared to Q1 2024.

The following table is a summary of GEOs³ sold and adjusted royalty revenue³ for the three months ended March 31, 2025 and 2024:

	2025			2024
(In thousands)	GEOs Sold		Revenue (in thousands)	GEOs Sold		Revenue (in thousands)

Gediktepe	1,504		4,305	1,443		2,990
Caserones	1,050	$	3,006	991	$	2,053
Timok	553		1,583	612		1,267
Leeville	318		910	417		864
Other Producing Assets	290		830	131		272
Advanced royalty payments	41		117	102		211
Adjusted royalty revenue	3,756	$	10,751	3,696	$	7,657

Shareholder Information – The Company’s filings for the year are available on SEDAR+ at www.sedarplus.ca, on the U.S. Securities and Exchange Commission’s EDGAR website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

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

For further information contact:

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

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

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

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

Forward-Looking Statements

This news release may contain “forward looking information” or “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 mineral resources, realization of mineral reserve estimates, the timing and amount of estimated future production, the Company’s growth strategy and expectations regarding the guidance for 2025 and future outlook, including revenue and GEO estimates, anticipated reductions in operating expenditures, repayment of outstanding debt and the timing thereof, the acquisition of additional royalty and royalty generation interests and other investment opportunities, the purchase of securities pursuant to the Company’s NCIB, exploration and development plans at the Company’s royalty properties and the expected timing thereof 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 (including the estimates from the CIBC Global Mining Group’s Consensus Commodity Price Forecasts published on March 3, 2025), 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 remain in effect or be obtained as required to operate, develop or explore the various properties in which the Company holds an interest; 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 maintain or 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.

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 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 March 31, 2025, and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov. 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.

Future-Oriented Financial Information

This news release may contain future-oriented financial information (“FOFI”) within the meaning of Canadian securities legislation, about prospective results of operations, financial position, GEOs and anticipated royalty payments based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement. The FOFI has been prepared by management to provide an outlook of the Company’s activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the headings above entitled “Outlook” and “Forward-Looking Statements” and assumptions with respect to the future metal prices, the estimation of mineral reserves and resources, realization of mineral reserve estimates and the timing and amount of estimated future production. Management does not have, or may not have had at the relevant date, or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects are not, or may not have been at the relevant date of the FOFI, objectively determinable.

Importantly, the FOFI contained in this news release are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including, but not limited to, assumptions about: (i) the future pricing of metals, (ii) the future market demand and trends within the jurisdictions in which the Company or the mining operators operate, and (iii) the operating cost and effect on the production of the Company’s royalty partners. The FOFI or financial outlook contained in this news release do not purport to present the Company’s financial condition in accordance with IFRS, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled “Forward-Looking Statements” and under the heading “Risk Factors” in the Company’s public disclosures, FOFI or financial outlook within this news release should not be relied on as necessarily indicative of future results.

Non-IFRS Financial Measures

The Company has included certain non-IFRS financial measures in this press release, as discussed below. EMX believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company. These non-IFRS financial 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. These financial measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.

Non-IFRS financial measures are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”) as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation. A non-IFRS ratio is defined by NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements.

The following table outlines the non-IFRS financial measures, their definitions, the most directly comparable IFRS measures and why the Company use these measures.

Non-IFRS financial measure	Definition	Most directly comparable IFRS measure	Why we use the measure and why it is useful to investors
Adjusted revenue and other income	Defined as revenue and other income including the Company’s share of royalty revenue related to the Company’s effective royalty on Caserones.	Revenue and other income	The Company believes these measures more accurately depict the Company’s revenue related to operations as the adjustment is to account for revenue from a material asset
Adjusted royalty revenue	Defined as royalty revenue including the Company’s share of royalty revenue related to the Company’s effective royalty on Caserones.	Royalty revenue
Adjusted cash flows from operating activities	Defined as cash flows from operating activities plus the cash distributions related to the Company’s effective royalty on Caserones.	Cash flows from operating activities	The Company believes this measure more accurately depicts the Company’s cash flows from operations as the adjustment is to account for cash flows from a material asset.
Gold equivalent ounces (GEOs)	GEOs is a non-IFRS measure that is based on royalty interests and calculated on a quarterly basis by dividing adjusted royalty revenue by the average gold price during such quarter. The gold price is determined based on the LBMA PM fix. For periods longer than one quarter, GEOs are summed for each quarter in the period.	Royalty revenue	The Company uses this measure internally to evaluate our underlying operating performance across the royalty portfolio for the reporting periods presented and to assist with the planning and forecasting of future operating results.
Earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA	EBITDA represents net earnings or loss for the period before income tax expense or recovery, depreciation and amortization, finance costs. Adjusted EBITDA adds all revenue from the Caserones Royalty less any equity income from the equity investment in SLM California (Caserones Royalty holder). Additionally, it removes the effects of items that do not reflect our underlying operating performance and are not necessarily indicative of future operating results. These may include: share based payments expense; unrealized and realized gains and losses on investments; write-downs of assets; impairments or reversals of impairments; foreign exchange gains or losses; and other non-cash or non-recurring expenses or recoveries.	Earnings or loss before income tax	The Company believes EBITDA and adjusted EBITDA are widely used by investors and analysts as useful indicators of our operating performance, our ability to invest in capital expenditures, our ability to incur and service debt and also as a valuation metric.
Working capital	Defined as current assets less current liabilities. Working capital does not include assets held for sale and liabilities associated with assets held for sale	Current assets, current liabilities	The Company believes that working capital is a useful indicator of the Company’s liquidity.

Reconciliation of Adjusted Revenue and Other Income and Adjusted Royalty Revenue:

During the three months ended March 31, 2025 and 2024, the Company had the following sources of revenue and other income:

(In thousands of dollars)		Three months ended March 31,
(In thousands of dollars)		2025		2024
Royalty revenue	$	7,745	$	5,604
Option and other property income		303		188
Interest income		374		448
Total revenue and other income	$	8,422	$	6,240

The following is the reconciliation of adjusted revenue and other income and adjusted royalty revenue:

		Three months ended March 31,
(In thousands of dollars)		2025		2024
Revenue and other income	$	8,422	$	6,240
SLM California royalty revenue	$	7,035	$	4,805
The Company’s ownership %		42.7		42.7
The Company’s share of royalty revenue	$	3,006	$	2,053
Adjusted revenue and other income	$	11,428	$	8,293

Royalty revenue	$	7,745	$	5,604
The Company’s share of royalty revenue		3,006		2,053
Adjusted royalty revenue	$	10,751	$	7,657

Reconciliation of Adjusted Cash Flows from Operating Activities:

		Three months ended March 31,
(In thousands of dollars)		2025		2024
Cash provided by operating activities	$	1,289	$	1,027
Caserones royalty distributions		1,617		1,634
Adjusted cash flows from operating activities	$	2,906	$	2,661

Reconciliation of EBITDA and Adjusted EBITDA:

		Three months ended March 31,
(In thousands of dollars)		2025			2024
Income (loss) before income taxes	$	1,882		$	(2,235	)
Finance expense		681			1,065
Depletion, depreciation, and direct royalty taxes		2,329			2,419
EBITDA	$	4,892		$	1,249

Attributable revenue from Caserones royalty		3,006			2,053
Equity income from investment in SLM California		(1,680	)		(797	)
Share-based payments		1,227			189
Gain on revaluation of investments		(746	)		(84	)
Loss on sale of marketable securities		346			411
Foreign exchange (gain) loss		(207	)		116
Loss on revaluation of derivative liabilities		162			41
Impairment charges		101			45
Adjusted EBITDA	$	7,101		$	3,223

Reconciliation of GEOs:

		Three months ended March 31,
(In thousands of dollars)		2025		2024
Adjusted royalty revenue	$	10,751	$	7,657
Average gold price per ounce	$	2,863	$	2,072
Total GEOs		3,756		3,696

¹ Refer to the “Non-IFRS financial measures” section below and on page 23 of the Q1 2025 MD&A for more information on each non-IFRS financial measure. These non-IFRS measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements to which the measures relates and might not be comparable to similar financial measures disclosed by other issuers.

² Assumed commodity prices of $2,668/oz gold and $4.26/lb copper based on CIBC Global Mining Group’s Consensus Commodity Price Forecasts (“Consensus Pricing”) published on March 3, 2025, which the Company believes to be reliable for the purposes of guidance.

³ Refer to the “Non-IFRS financial measures” section below and on page 23 of the Q1 2025 MD&A for more information on each non-IFRS financial measure.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251664

Base Metals Energy Junior Mining Lion One Metals Precious Metals

Lion One Drills 54.16 g/t Gold over 1.9 m, Including 156.55 g/t Gold over 0.6 m at Tuvatu Gold Mine in Fiji

Post author By admin
Post date May 12, 2025

North Vancouver, British Columbia–(Newsfile Corp. – May 12, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 2,701.4 meters of underground infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji (“Tuvatu“). The drilling is focused on the Ura lode system which is currently being mined. The Company intersected high-grade mineralized structures in 21 holes, most of which did not exceed 150 m in length.

There are two primary targets for the Ura drilling reported in this release: the planned Ura shrinkage stope in development at the top of the Ura system, and the down-dip extension of the Ura lodes below current underground workings (Figure 1).

The Ura lode system is currently being mined from both the 1095 and 1116 levels of the mine. A shrinkage stope is being developed between the 1116 and 1156 levels of the mine. This shrinkage stope is scheduled for mining within the next three months and will be mined over a strike length of approximately 80 m, with narrow mining widths of approximately 1.5 m. This stope encompasses numerous very high-grade gold drill results, such as 54.16 g/t gold over 1.9 m, which includes 156.55 g/t gold over 0.6 m. Previous drilling in the shrinkage stope has returned similarly strong results over narrow widths, such as 168.95 g/t gold over 0.5 m (see press release dated March 25, 2025).

The Ura lode system remains open at depth and is largely untested below the currently modeled lodes. The second target for the drilling reported in this release is the down-dip extension of the Ura lodes. High-grade gold drill results were returned up to 90 m below the current underground workings, indicating the potential for at least 4 to 5 additional levels of mining below the current underground workings, most of which is outside the current resource. The system is a prime target for resource expansion and upgrade.

Highlights of New Drill Results:

54.16 g/t Au over 1.9 m (including 156.55 g/t Au over 0.6 m) (TGC-0398, from 90.2 m depth)
16.64 g/t Au over 3.2 m (including 39.87 g/t Au over 1.2 m) (TGC-0403, from 74.0 m depth)
23.78 g/t Au over 1.8 m (including 39.73 g/t Au over 0.4 m) (TGC-0398, from 93.7 m depth)
20.02 g/t Au over 1.6 m (including 61.45 g/t Au over 0.4 m) (TGC-0395, from 13.0 m depth)
7.81 g/t Au over 3.6 m (including 21.55 g/t Au over 0.4 m) (TGC-0425, from 33.4 m depth)
38.43 g/t Au over 0.6 m (including 62.99 g/t Au over 0.3 m) (TGC-0394, from 16.0 m depth)
10.85 g/t Au over 2.1 m (including 37.62 g/t Au over 0.4 m) (TGC-0413, from 64.8 m depth)
11.21 g/t Au over 2.0 m (including 34.38 g/t Au over 0.4 m) (TGC-0395, from 55.4 m depth)
49.12 g/t Au over 0.5 m (TGC-0402, from 25.0 m depth)
63.98 g/t Au over 0.3 m (TGC-0425, from 0.9 m depth)
18.91 g/t Au over 1.0 m (including 29.08 g/t Au over 0.5 m) (TGC-0398, from 45.6 m depth)
17.02 g/t Au over 1.1 m (including 33.12 g/t Au over 0.5 m) (TGC-0400, from 14.3 m depth)

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

Figure 1. Location of the Ura drilling reported in this news release. Left image: Plan view of the Ura drilling in relation to the Ura lodes shown in purple and other mineralized lodes shown in grey, with Tuvatu underground development shown in red. Right image: Section view of the Ura drilling looking NNE, approximately along strike of the Ura 1 and Ura 3 lodes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/251591_d9bb7bcb24465b3a_001full.jpg

Ura Lode System

The Ura lode system was first discovered during the initial development of the mine decline in late 2022 and was initially modelled as a single lode. It is now understood to be a system of lodes, with at least three separate lodes already identified: Ura 1, Ura 2, and Ura 3. The Ura system remains largely untested outside of current mining areas. The system extends to surface and is open at depth.

The Ura 1, Ura 2, and Ura 3 lodes all consist of narrow high-grade structures with high grade gold intersections. The Ura 1 and Ura 3 lodes dip subvertically to the west and strike approximately 200° to the SSW. The Ura 2 lode strikes approximately 205° to the SSW and dips at approximately 45° to the west, toward the West Zone. The Ura 2 lode intersects the Ura 1 lode slightly below the 1116 level while the Ura 3 lode is located between the Ura 2 and Ura 1 lodes. All three lodes have current total strike lengths of approximately 220 m each and remain open both at depth and to the south. The west extent of the Ura 2 lode remains entirely untested.

The drilling reported in this news release was conducted from three underground drill stations; the 1095, 1116, and 1116.SP drill stations. The drilling targeted two areas: the Ura 1 shrinkage stope area in development between the 1116 and 1156 levels, and the Ura 1, Ura 2, and Ura 3 lodes down-dip of the current underground workings.

Drilling in the Ura shrinkage stope is being conducted on a 12.5 m grid to provide a detailed understanding of the structure and mineralization of the lode in advance of mining. The shrinkage stope is already under development and the first rise is complete. The stope is anticipated to be approximately 80 m long, 35 m tall, and 1.5 m wide. It is scheduled for mining over the next three months, with the bulk of production coming in July.

Figure 2. Ura shrinkage stope drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff, plan view. Plan view looking down. The drill holes shown here primarily targeted areas of the Ura lode within the planned Ura 1 shrinkage stope. Ura lodes show in purple, underground workings in grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/251591_d9bb7bcb24465b3a_002full.jpg

Figure 3. Location of the Ura 1 shrinkage stope, section view. Section view looking east. The Ura 1 shrinkage stope is anticipated to be approximately 80 m long by 35 m tall and is located between the 1116 and the 1156 levels of the mine. The location of the shrinkage stope is approximated by the yellow dashed square, with Ura lodes shown in purple and underground workings in grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/251591_d9bb7bcb24465b3a_003full.jpg

The Ura down-dip drilling reported in this release primarily targeted areas outside the current resource. The Ura system is largely untested below and to the west of the currently modeled lodes, and the system is a prime target for resource expansion. Limited drilling has been conducted below the current underground workings. High grade drill results were returned approximately 90 m below the current underground workings, and 55 m below the currently modeled lodes. This represents an additional four to five levels of mineralization below the current mine levels, with strong potential for mineralization to continue further at depth. The Ura down-dip drill program is targeting a 12.5 m drill hole density to bring these additional levels of mineralization into the resource and into the mine plan this year.

Figure 4. Ura down-dip drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Left image: Section view looking east perpendicular to the Ura lodes with select high-grade intercepts highlighted. Right image: Section vier looking NNE approximately along srike of the Ura 1 and Ura 3 lodes. High grade gold mineralization has been intersected in the Ura lodes 90 m down-dip of the current underground workings, and 55 m down-dip of the currently modeled lodes. The system remains open at depth. Ura lodes shown in light purple, underground workings in grey.

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Competent Person’s Statement

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

Lion One Laboratories / QAQC

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

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

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

About Lion One Metals Limited

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

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

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

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

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

Appendix 1: Full Drill Results and Collar Information

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

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0393	1876182	3920778	98	98.3	-55.3	85.4
TGC-0394	1876181	3920780	99	42.5	-43.3	144.5
TGC-0395	1876182	3920780	99	53.4	-47.3	111.0
TGC-0397	1876181	3920779	99	52.2	-57.3	131.1
TGC-0398	1876283	3920810	121	234.5	14.2	120.3
TGC-0399	1876182	3920779	98	63.3	-67.1	146.4
TGC-0400	1876181	3920780	99	40.7	-48.7	165.5
TGC-0401	1876283	3920814	119	290.7	-29.5	83.3
TGC-0402	1876181	3920780	99	42.1	-59.4	191.3
TGC-0403	1876283	3920814	119	279.5	-40.3	150.0
TGC-0404	1876181	3920778	98	97.9	-82.2	250.3
TGC-0405	1876283	3920816	119	319.4	-32.0	121.5
TGC-0407	1876283	3920815	119	311.5	-41.7	166.6
TGC-0408	1876181	3920779	100	276.5	-79.0	5.0
TGC-0410	1876181	3920779	100	276.5	-79.0	7.8
TGC-0411	1876181	3920779	100	276.5	-79.0	11.1
TGC-0412	1876177	3920778	98	278.2	-79.9	181.9
TGC-0413	1876279	3920767	120	272.6	11.3	86.0
TGC-0415	1876178	3920779	98	339.6	-83.3	130.5
TGC-0417	1876281	3920768	121	317.0	21.0	82.9
TGC-0418	1876280	3920768	121	299.3	21.2	80.0
TGC-0420	1876182	3920772	98	186.0	-80.6	135.8
TGC-0422	1876178	3920779	98	129.0	-20.0	33.2
TGC-0425	1876279	3920767	121	282.9	20.4	80.0

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

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0393		68.4	68.8	0.4	5.90
		71.7	72.4	0.7	6.28
		75.5	76.6	1.1	3.85
	including	75.5	76.2	0.7	3.57
	and	76.2	76.6	0.4	4.35
TGC-0394		16.0	16.6	0.6	38.43
	including	16.0	16.3	0.3	13.87
	and	16.3	16.6	0.3	62.99
		54.2	55.0	0.8	13.76
		120.2	120.8	0.6	3.09
		130.7	131.4	0.7	3.00
		138.6	139.1	0.5	3.00
TGC-0395		13.0	14.6	1.6	20.02
	including	13.0	13.4	0.4	61.45
	and	13.4	14.6	1.2	6.21
		24.7	25.5	0.8	14.43
	including	24.7	25.1	0.5	12.01
	and	25.1	25.5	0.4	17.54
		27.1	27.5	0.4	3.33
		55.4	57.4	2.0	11.21
	including	55.4	56.0	0.6	5.11
	and	56.0	57.0	1.0	5.60
	and	57.0	57.4	0.4	34.38
		105.8	106.3	0.5	7.73
		108.1	108.5	0.4	16.53
TGC-0397		22.5	22.8	0.3	3.33
		118.7	119.0	0.3	6.54
		130.5	130.8	0.3	3.55
TGC-0398		0.5	1.2	0.8	11.02
	including	0.5	0.8	0.3	4.04
	and	0.8	1.2	0.5	15.67
		4.1	4.7	0.6	3.32
		6.5	7.7	1.2	3.02
		41.4	42.0	0.7	7.66
		45.6	46.6	1.0	18.91
	including	45.6	46.1	0.5	29.08
	and	46.1	46.6	0.5	8.73
		48.9	49.2	0.3	49.56
		90.2	92.1	1.9	54.16
	including	90.2	90.8	0.6	156.55
	and	90.8	91.4	0.6	6.19
	and	91.4	92.1	0.7	7.50
		93.7	95.5	1.8	23.78
	including	93.7	94.3	0.6	14.98
	and	94.3	94.7	0.4	39.73
	and	94.7	95.5	0.8	22.40
		96.9	97.5	0.6	3.85
		104.8	105.4	0.6	3.98
TGC-0399		115.9	117.2	1.3	4.33
	including	115.9	116.2	0.3	5.23
	and	116.2	116.5	0.3	2.40
	and	116.5	116.8	0.3	0.07
	and	116.8	117.2	0.3	9.22
TGC-0400		14.3	15.4	1.1	17.02
	including	14.3	14.6	0.4	4.32
	and	14.6	15.1	0.5	33.12
	and	15.1	15.4	0.3	7.68
		26.3	26.6	0.3	42.39
		47.6	47.9	0.3	3.11
TGC-0401		61.0	61.6	0.6	3.37
		71.3	72.0	0.7	3.41
TGC-0402		11.2	11.5	0.3	5.65
		23.5	23.9	0.4	21.78
		25.0	25.5	0.5	49.12
TGC-0403		0.6	1.1	0.5	23.65
		74.0	77.2	3.2	16.64
	including	74.0	75.0	1.0	3.39
	and	75.0	76.0	1.0	3.18
	and	76.0	77.2	1.2	39.87
TGC-0404		25.4	26.0	0.6	9.18
TGC-0405		0.0	1.1	1.1	5.57
	including	0.0	0.5	0.5	4.09
	and	0.5	1.1	0.7	6.60
		77.1	77.6	0.5	3.86
		92.5	93.1	0.6	6.66
		101.4	102.6	1.2	3.88
TGC-0407		77.0	77.6	0.6	6.11
		85.5	85.8	0.3	10.89
		90.0	90.3	0.3	21.56
		93.2	93.6	0.4	3.33
		97.7	98.1	0.4	8.37
TGC-0412		60.4	60.7	0.3	24.56
TGC-0413		34.2	34.8	0.6	3.16
		35.7	36.3	0.6	4.03
		64.8	66.9	2.1	10.85
	including	64.8	65.2	0.4	37.62
	and	65.2	65.8	0.6	9.47
	and	65.8	66.6	0.8	0.08
	and	66.6	66.9	0.3	6.62
TGC-0415		26.5	26.9	0.4	35.78
TGC-0417		29.7	30.1	0.3	5.80
		42.7	43.9	1.2	6.83
TGC-0418		35.1	36.0	0.9	3.05
		57.2	59.0	1.8	4.81
	including	57.2	58.0	0.8	3.51
	and	58.0	58.4	0.4	NS
	and	58.4	59.0	0.6	9.74
		60.3	60.6	0.3	3.82
		66.8	67.4	0.6	8.73
TGC-0420		31.1	32.6	1.5	6.45
	including	31.1	31.4	0.3	15.68
	and	31.4	31.8	0.4	0.14
	and	31.8	32.3	0.5	4.66
	and	32.3	32.6	0.3	8.21
		34.8	35.2	0.4	4.53
		36.3	36.8	0.5	5.35
		41.9	42.2	0.3	5.55
TGC-0422		17.5	18.8	1.3	8.67
	including	17.5	17.8	0.3	21.62
	and	17.8	18.5	0.7	4.57
	and	18.5	18.8	0.3	5.40
TGC-0425		0.9	1.2	0.3	63.98
		30.8	32.3	1.5	4.31
	including	30.8	31.3	0.5	5.49
	and	31.3	31.6	0.3	5.85
	and	31.6	31.9	0.3	0.96
	and	31.9	32.3	0.4	4.19
		33.4	36.9	3.6	7.81
	including	33.4	34.0	0.7	5.81
	and	34.0	34.9	0.9	10.01
	and	34.9	35.2	0.3	3.32
	and	35.2	35.5	0.3	<0.01
	and	35.5	35.8	0.3	17.66
	and	35.8	36.5	0.7	0.06
	and	36.5	36.9	0.4	21.55
		38.5	38.9	0.4	8.28
		65.6	66.1	0.5	10.12

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251591

Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Sets Date to Receive Spinout Shares of Blue Jay Gold Corp

Post author By admin
Post date May 12, 2025

Vancouver, British Columbia–(Newsfile Corp. – May 12, 2025) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company“), is excited to announce the date and steps to effect the previously announced spin-out of its subsidiary, Blue Jay Gold Corp. (“Blue Jay“), on May 22, 2025. Shareholders of Riverside as of 12:01 a.m. on such date (the “Effective Time“) will be entitled to receive one (1) new common share of Riverside (the “New Riverside Shares“) and one (1) common share of Blue Jay (the “Blue Jay Spinout Shares“) for every five (5) common shares of Riverside (“Riverside Shares“) held at the Effective Time. To receive Blue Jay Spinout Shares, investors must purchase Riverside Shares no later than the close of trading on May 21, 2025. Shareholders who purchase Riverside Shares on or after May 22, 2025, will not be entitled to participate in the share distribution. Blue Jay is expected to make an application to list its shares on the TSXV. This share reorganization follows a structure similar to Riverside’s previous transaction with Capitan Silver. In that prior case, the shares saw positive appreciation, and both Riverside and Capitan advanced their respective business strategies.

“We are excited to move forward with the planned next step in Blue Jay Gold Corp.’s growth, with the spin-out of the Blue Jay shares held by Riverside going 100% to existing shareholders, and we appreciate the continued support of our shareholders as we deliver this value directly to them,” stated John-Mark Staude, President and CEO of Riverside Resources. “This corporate action is consistent with our project generator business model, which we have successfully executed for over 18 years. It allows Riverside to maintain upside exposure through asset royalties while enabling Blue Jay to pursue its own focused growth strategy and existing shareholders to receive the benefits from the years of work the Company has put in building this Ontario asset portfolio. We believe this spin-out presents an exciting new opportunity for investors as Blue Jay moves toward becoming a publicly listed exploration company. I remain fully invested, holding shares, and am enthusiastic about the future of both Blue Jay and Riverside.”

“Blue Jay will initially remain as a private reporting company as it prepares for its public listing, offering Blue Jay and Riverside shareholders a rare early-stage position typically reserved for pre-IPO investors. This structure allows for the alignment of strategic milestones and investor visibility ahead of listing on the TSX Venture Exchange,” stated CEO of Blue Jay, Geordie Mark. “Having taken on the helm and now leading Blue Jay is a great opportunity as the portfolio is strong, team keen and we look forward to building a great Canadian gold company starting from this initial pre-listing state with the capital we have already raised and moving ahead with the Riverside shareholder base.”

For more context on the strategic rationale and shareholder benefits of the Blue Jay Gold Corp. spin-out, we invite investors to watch a recent video interview featuring Geordie Mark and Riverside Resources CEO John-Mark Staude. In the discussion, they outline the structure of the transaction, the vision for Blue Jay Gold as a standalone exploration company, and how Riverside shareholders will continue to benefit through retained royalties and equity exposure. The full video is available here: https://youtu.be/PrYeRon0cj0

Riverside and Blue Jay consider it in their respective best interests, and in the interests of their shareholders and other stakeholders, to proceed with effecting the Arrangement to enable each company to pursue their respective and distinct growth strategies as separate entities.. Blue Jay is actively engaged with the TSX Venture Exchange to complete the listing of the Blue Jay Shares in the second half of 2025, subject to meeting the TSXV’s initial listing requirements and aligning with the Company’s ongoing strategic and accretive growth initiatives.

The 14,956,693 Blue Jay Spinout Shares currently held by Riverside will be distributed to Riverside’s shareholders in connection with Riverside’s previously announced plan of arrangement under section 288 of the Business Corporation Act (British Columbia) (the “Arrangement“) The Arrangement will be effected pursuant to the arrangement agreement dated January 27, 2025 between Blue Jay and Riverside (the “Arrangement Agreement“), and approved by shareholders at the annual general and special shareholders meeting held March 31, 2025.

At the effective time of the Arrangement on May 22, 2025, each existing Riverside Share will be exchanged for one new New Riverside Share and 1/5^th of a Blue Jay Spinout Share, subject to adjustment in accordance with the Arrangement Agreement. Holders of Riverside options are entitled to receive the same number of New Riverside Shares and 1/5th of that number of Blue Jay Shares. On completion of the Arrangement, Riverside shareholders and holders of Riverside options will maintain their interest in Riverside and will obtain a proportionate interest in Blue Jay. There are no share warrants in either Riverside or Blue Jay.

Following the completion of the Arrangement, Blue Jay will be a reporting issuer in Alberta, British Columbia and Ontario and will meet and comply with all of its timely and continuous disclosure requirements, as required under applicable Canadian securities laws. Blue Jay’s public disclosure documents will be made available and filed on Blue Jay’s profile on SEDAR+ at www.sedarplus.ca following the Arrangement.

Riverside will retain a 2% net smelter return (NSR) royalty on each of Blue Jay’s three properties, ensuring continued exposure to the success and upside of these assets.

How to Receive the New Riverside Shares and Blue Jay Shares

To receive the New Riverside Shares and the Blue Jay Shares to which they are entitled, registered shareholders of Riverside who hold their Riverside common shares (the “Riverside Shares“) in certificated form are required to submit a Letter of Transmittal (which is available on the Company’s SEDAR+ profile at www.sedarplus.ca to Endeavor Trust Corporation (“Endeavor“), as depositary, to exchange their Riverside Shares for certificates or direct registration system (“DRS“) statements representing the New Riverside Shares and the Blue Jay Shares to which they are entitled under the Arrangement. Registered shareholders who hold their Riverside Shares through DRS statements will automatically receive DRS statements for the New Riverside Shares and Blue Jay Shares at the registered address maintained by Endeavor and are not required to submit a Letter of Transmittal to Endeavor.

Beneficial shareholders of Riverside who hold their Riverside Shares through an intermediary, broker or other agent will automatically receive their New Riverside Shares and Blue Jay Spinout Shares to which they are entitled pursuant to the Arrangement and should contact such intermediary, broker or other agent with questions on their New Riverside Shares and Blue Jay Shares.

The Arrangement Agreement and additional details about the Arrangement are included in the Company’s management information circular dated February 18, 2025, copies of which are each available on Riverside’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.rivres.com.

About Blue Jay Gold Corp

Blue Jay Gold Corp. is a Canadian gold exploration company focused on high-grade discovery in Ontario’s prolific Beardmore-Geraldton and Wawa Greenstone Belts, regions known for hosting numerous past-producing and active gold mines. The Company’s flagship asset, the Pichette Project, features extensive banded iron formation (BIF) trends and high-grade historical gold intercepts, offering near-surface discovery potential. With three strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold is advancing a disciplined, modern exploration strategy in one of Canada’s most prospective and mining-friendly jurisdictions.

About Riverside Resources Inc.

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M 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.

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, that the Arrangement may not occur within the timelines contemplated or at all, that the listing of the Blue Jays on the TSXV is subject to the approval of the TSXV which may not be obtained on terms acceptable to Blue Jay or at all, the ability of Blue Jay to raise sufficient capital to pursue its growth strategy and meet the listing requirements of the TSXV and , 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/251659

Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

Is This The Next Big Gold Discovery?

Post author By admin
Post date May 9, 2025

Act Now! Spin-Out is 21 May 2025

Riverside Resources: TSX.V: RRI | OTCQB: RVSDF
Website: https://rivres.com/
Communications Team 778-327-6671
Email info@rivres.com

Register for the Rule Symposium Here: https://registration.allintheloop.net/register/event/rick-rule-symposium-2025-ccha?via=ProvenAndProbable

Rumble

Tags #BlueJayGoldCorp, #GeorgieMark, #JohnMarkStaude, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #RickRule, #RiversideResources, #RRI

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

Invitation to EMX Royalty Corp Webinar with John Tumazos Very Independent Research

Post author By admin
Post date May 8, 2025

Dear Friend and Investor,

We are pleased to invite you to an upcoming webinar hosted by John Tumazos Very Independent Research, featuring a presentation and Q&A with Dave Cole, President and CEO of EMX Royalty Corporation.

Mr. Cole will provide an update on the Company’s recent developments, portfolio performance, and strategic outlook, while addressing investor questions in conversation with John Tumazos.

Event Details:
Date: Thursday, May 15, 2025
Time: 11:00 AM EDT
Location: Online Webinar
Registration Link: https://attendee.gotowebinar.com/register/2949394207632879964

We encourage you to register in advance and mark your calendar. This is an excellent opportunity to stay informed about EMX’s progress and plans for the remainder of 2025.

Should you have any questions ahead of the webinar, please don’t hesitate to reach out.

Kind regards,

Isabel Belger

Investor Relations Manager

Email: ibelger@emxroyalty.com

Mobile: +49 178 4909039

Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources’ Blue Jay Gold Corp. Completes Non-Brokered Private Placement Financing

Post author By admin
Post date May 7, 2025

Vancouver, British Columbia–(Newsfile Corp. – May 7, 2025) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company“), is pleased to announce that, it’s subsidiary, Blue Jay Gold Corp. (“Blue Jay“) issued 2,305,000 common shares (the “Blue Jay Shares“) at an issue price of $0.40 per share for total gross proceeds of $922,000 as part of a previously announced non-brokered private placement of the Blue Jay Shares. Riverside now holds 74.80% of the issued and outstanding Blue Jay Shares.

“We’re very pleased with the strong investor interest that led to the upsizing and successful close of the Blue Jay Gold seed round,” stated John-Mark Staude, CEO of Riverside Resources. “This outcome reinforces the value we’ve built in the Ontario portfolio and reflects confidence in Blue Jay’s leadership and exploration potential. As Riverside shareholders, we continue to benefit through our retained equity and royalty exposure, while Blue Jay moves forward as a focused, well-capitalized company.”

“The successful closing of our seed round provides Blue Jay Gold with a solid foundation to advance exploration across our Ontario portfolio,” said Geordie Mark, CEO of Blue Jay Gold. “We’re grateful for the strong support from our shareholders and look forward to executing a disciplined, data-driven exploration program to unlock the potential of our assets.”

Certain directors and officers of Riverside and Blue Jay participated in the private placement, subscribing for 268,750 Blue Jay Shares in the aggregate; each such director or officer is a “related party” and each such subscription is a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements under section 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of such insider participation, in each case, as the fair market value of the private placement, insofar as it involves related parties does not exceed 25% of the Company’s market capitalization.

The balance of the Blue Jay Shares held by Riverside will be distributed to Riverside’s shareholders in connection with Riverside’s previously announced plan of arrangement under section 288 of the Business Corporation Act (British Columbia) (the “Arrangement“), which will be effected pursuant to the arrangement agreement dated January 27, 2025 between Blue Jay and Riverside (the “Arrangement Agreement“). The Arrangement received Riverside shareholder approval on March 31, 2025 and the final approval of the Supreme Court of British Columbia on April 3, 2025.

The Arrangement Agreement and additional details about the Arrangement are included in the Company’s management information circular dated February 18, 2025 which are each available on Riverside’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.rivres.com.

About Blue Jay Gold

About Riverside Resources Inc.

About Blue Jay Gold Corp.

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, that the Arrangement may not occur within the timelines contemplated or at all, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251027

Tags #BlueJayGoldCorp, #InvestingInCopper, #JohnMarkStaude, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #RickRule, #RiversideResources, #RRI

Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Questcorp Mining Execute Definitive Option Agreement for La Union Project, Sonora, Mexico

Post author By admin
Post date May 6, 2025

Vancouver, British Columbia–(Newsfile Corp. – May 6, 2025) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that further to its press release dated September 6, 2024, Riverside’s wholly-owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. (the “Vendor“) has entered into a definitive option agreement (the “Option Agreement“) with Questcorp Mining Inc. (“Questcorp“) dated May 5, 2025, for the 2,520.2 hectare La Union carbonate replacement gold- polymetallic project (the “Project” or “La Union“) located in Sonora, Mexico (the “Transaction“).

“We are thrilled to finalize this agreement for the La Union Project, which is a strong asset in Riverside’s portfolio. Securing up to C$5,500,000 in exploration funding from Questcorp is an excellent step forward in advancing this larger Carbonate Replacement Deposit (“CRD“) project,” said John-Mark Staude, CEO of Riverside Resources. “Riverside is pleased to have the updated NI 43-101 Technical Report completed and we see an active exploration program launching in the coming weeks with Riverside as the Operator of the exploration program. Riverside is expected to become a shareholder of Questcorp with an initial 9.9% equity interest, subject to final approval by the Canadian Securities Exchange or confirmation that such approval is not required. The first-year work program of C$1,000,000 in exploration expenditures will launch the first round of exploration at the project.”

The La Union Project

The Project is summarized on the Riverside website and is a project that Riverside acquired and further consolidated additional inlier mineral claims. The Project initially identified from Riverside’s work in the western Sonora gold belt through work with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochshild Mining Plc, among others as partners and funding relationships for gold exploration. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, identified this region as highly prospective. At the Project, historical mining by the Penoles Mining Company focused on chimney and manto replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones present immediate drill targets for further exploration.

Riverside has spent the past five years consolidating this highly prospective land package, which totals over 22 square kilometers. The Project features favorable limestone host rocks, an extensive alteration footprint, and multiple small-scale historical workings, providing more than eight drill-ready target areas. Key immediate targets include the central Union Mine and the nearby Famosa Mine. With drive-up access, private ranch surface rights, and strong geologic similarities to other major CRDs in Arizona and eastern Mexico, La Union is well positioned for near-term exploration success targeting both oxide and deeper sulfide mineralization.

The Option Agreement

In accordance with the terms of the Transaction, Questcorp can acquire a one-hundred percent (100%) interest in the Project in consideration for completion of a series of cash payments totaling $100,000 CAD, making staged issuances of common shares of Questcorp totaling 19.9%, and incurring $5,500,000 CAD of exploration expenditures on the Project as outlined immediately below:

Deadline	Cash Payment	Share Issuance	Exploration Expenditures
Within two (2) business days of the date of the Option Agreement	$25,000	N/A	N/A
On the Effective Date⁽¹⁾	N/A	9.9%⁽²⁾	N/A
On or before the first anniversary of the Effective Date	N/A	14.9%⁽²⁾⁽³⁾	$1,000,000
On or before the second anniversary of the Effective Date	$25,000	19.9%⁽²⁾⁽³⁾	$1,250,000
On or before the third anniversary of the Effective Date	$25,000	19.9%⁽²⁾⁽³⁾	$1,500,000
On or before the fourth anniversary of the Effective Date	$25,000	19.9%⁽²⁾⁽³⁾	$1,750,000
Total	$100,000	19.9%⁽²⁾⁽³⁾	$5,500,000
Notes:”Effective Date” means the date on which Questcorp delivers to the Vendor a copy of the written approval of the Canadian Securities Exchange in respect of the transactions contemplated by the Option Agreement.Issuable within the fifth business day after the applicable date.Expressed as a cumulative total percentage of the undiluted issued and outstanding common shares of Questcorp as of the applicable payment date, and assuming Riverside has not previously disposed of any common shares.

During the term of the Option Agreement, Riverside, through the Vendor, will remain the program operator for the Project using its local team based in Hermosillo, Sonora. Following exercise of the option under the Option Agreement, Questcorp will grant Riverside a two-and-one half percent (2.5%) net smelter return royalty on commercial production from the Project.

Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. Riverside now controls all mineral tenures on this map.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_002full.jpg

Figure 2. Cross section looking west with proposed drill sites and drillhole traces. Assays from Riverside’s sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_003full.jpg

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Freeman Smith, P.Geo, VP Exploration, a non-independent qualified person to Riverside Resources Inc., 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.

Rock samples from previous exploration programs discussed above at the Project were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis using 4-acid digestion methods. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M 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. 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
Corporate Communications
Riverside Resources Inc.
Eric@rivres.com
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 risk that the Transaction will not be completed as contemplates, or at all, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250896

Energy Junior Mining Precious Metals

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

Post author By admin
Post date May 1, 2025

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

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

Highlights:

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

19.75m of 0.45 g/t Au from 123.1m in MQD-25-151, including
- 0.3m of 8.87 g/t Au from 126.5m
6.0m of 1.34 g/t Au from 131.0m in MQD-25-152
11.85m of 0.36 g/t from 148.15m in MQD-25-158

Technical Overview

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 1: Significant intercepts

HOLE ID	FROM	TO	LENGTH (m)	TRUE WIDTH (m)	CUT GRADE (g/t Au)	UNCUT GRADE (g/t Au)
MQD-25-151	67.85	73.00	5.15	3.7	0.40	0.40
	86.00	90.00	4.00	2.8	0.58	0.58
	123.10	142.85	19.75	14.2	0.45	0.45
incl	126.50	126.80	0.30	0.2	8.87	8.87

MQD-25-152	61.00	66.10	5.10	3.7	0.55	0.55
	88.00	104.15	16.15	11.9	0.48	0.48
	131.00	137.00	6.00	4.5	1.34	1.34

MQD-25-158	135.00	137.00	2.00	1.6	0.43	0.43
	148.15	160.00	11.85	9.5	0.36	0.36
	170.40	173.65	3.25	2.6	0.53	0.53
	229.20	233.00	3.80	3.1	0.50	0.50
	254.45	270.85	16.40	13.5	0.38	0.38
	261.45	265.85	4.40	3.3	0.55	0.55
	293.10	297.55	4.45	3.3	0.43	0.43

MQD-25-160	107.20	132.20	25.00	18.7	1.10	1.10
incl	111.10	113.15	2.05	1.5	1.69	1.69
and	117.55	125.20	7.65	5.7	2.62	2.62
incl	119.95	120.30	0.35	0.3	30.0	30.1
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Table 2: Drill Collars

HOLE	EAST	NORTH	RL	AZIMUTH	DIP	EOH
MQD-25-151	670,138	5,379,811	428	155.0	-45.0	150.00
MQD-25-152	670,209	5,379,849	428	155.6	-45.7	150.00
MQD-25-158	670,483	5,380,136	428	153.5	-45.2	300.00
MQD-25-160	670,412	5,380,044	428	156.5	-45.1	150.00

Analytical and QA/QC Procedures

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

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

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

Qualified Person

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

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

About Goldshore

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

For More Information – Please Contact:

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

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

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

Cautionary Note Regarding Forward-Looking Statements

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

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

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

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

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

Base Metals Breaking Junior Mining Lion One Metals Precious Metals

Lion One Drills 236.00 g/t Gold over 0.4 m Near Mine Underground at Tuvatu Gold Mine in Fiji

Post author By admin
Post date May 1, 2025

North Vancouver, British Columbia–(Newsfile Corp. – May 1, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from 4,123.8 meters of underground infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji (“Tuvatu“). The drilling is focused on the Zone 5 area of the deposit, which is currently being mined.

Drilling was conducted from two near surface underground drill stations. The Company intersected high-grade mineralized structures in 29 drill holes targeting the UR2 lode down-dip of current underground developments. Most of the drill holes did not exceed 150 m in length and most of the high-grade drill intercepts are located within 50 m of current underground workings. Drill results include multiple bonanza grade gold intercepts over narrow widths, such as 236.00 g/t over 0.4 m, 101.58 g/t over 0.5 m, 102.35 g/t over 0.3 m, 94.23 g/t over 0.3 m, and 89.63 g/t over 0.4 m. Due to the proximity of drill results to existing workings there is a strong probability that these intercepts can be incorporated into the mine plan in the next six to twelve months.

Tuvatu is a high-grade narrow vein alkaline gold deposit and bonanza grade drill results are not uncommon on the project. In January the Company released the highest grade assay ever returned from Zone 5 drilling; 2,749.86 g/t over 0.3 m (see press release dated January 23, 2025). Previous high-grade drill results from Zone 5 include 1,517.79 g/t gold over 0.3 m (see press release dated December 17, 2024), 1,568.55 g/t over 0.3 metres (see press release dated June 5, 2024), and 1,986.23 g/t gold over 0.6 m (see press release dated December 13, 2023).

Highlights of New Drill Results:

236.00 g/t Au over 0.4 m (TGC-0345, from 109.42 m depth)
25.89 g/t Au over 3.0 m (including 101.58 g/t Au over 0.5 m g/t) (TGC-0359, from 110.7 m depth)
16.85 g/t Au over 3.0 m (including 38.27 g/t Au over 0.9 m) (TGC-0339, from 104.7 m depth)
18.26 g/t Au over 2.5 m (including 89.63 g/t Au over 0.4 m) (TGC-0332, from 67.14 m depth)
15.36 g/t Au over 2.7 m (including 47.25 g/t Au over 0.3 m) (TGC-0343, from 75.3 m depth)
27.08 g/t Au over 1.5 m (including 94.23 g/t over 0.3 m) (TGC-0343, from 61.7 m depth)
16.34 g/t Au over 2.3 m (including 23.57 g/t over 0.6 m) (TGC-0335, from 102.1 m depth)
29.44 g/t Au over 1.3 m (including 102.35 g/t Au over 0.3 m) (TGC-0347, from 108.96 m depth)
25.96 g/t Au over 1.4 m (including 43.58 g/t Au over 0.6 m) (TGC-0343, from 68.9 m depth)
14.23 g/t Au over 2.4 m (including 23.37 g/t Au over 0.4 m) (TGC-0327, from 101.9 m depth)

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

Figure 1. Location of the UR2 drilling reported in this news release. Left image: Plan view of the UR2 drilling in relation to the UR2 lode shown in green and other mineralized lodes shown in grey, with Tuvatu underground development shown in red. Yellow dashed square represents the area shown in the right image. Right image: Section view of the UR2 drilling looking West.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/250404_792a212d848f0816_001full.jpg

Zone 5

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south and northeast-southwest oriented lodes at Tuvatu, as well as several western lodes. These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be a major feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.

The drilling reported in this news release targeted the near-surface portion of the UR2 lode down-dip of current underground developments. The UR2 lode is one of the main north-south oriented lodes at Tuvatu. It has a strike length of approximately 600 m and dips steeply to the east. Mine development is currently taking place along the UR2 lode at the 1100 and 1102 levels of the mine, which are the deepest levels in Zone 5, as well as at the 1134 level of the mine. The drilling reported here was conducted from two underground drill stations; the 1090 drill station and the 1135 drill station. Drilling from the 1090 drill station targeted a 60 m wide section of the UR2 lode between 30 m and 50 m below the 1100 level at the south end of the lode. Drilling from the 1135 drill station targeted a 100 m wide section of the UR2 lode approximately 10 m above and 10 m below the 1102 level in the middle portion of the lode.

The UR2 drill program consists of infill and grade control drilling with the purpose of providing a detailed understanding of the geometry and mineralization of the UR2 lode in advance of mining. Drilling is being conducted on 10 m centers. 29 out of the 32 drill holes reported in this news release intersected high-grade mineralization. Most of the high-grade intervals reported in this release are located within 50 m of underground developments and are anticipated to be included in the mine plan in the next 6 to 12 months. One additional hole (TGC-0311) was drilled to test a deeper portion of the UR2 lode and returned several high-grade intercepts approximately 80 m below the 1102 level. Highlights of the Zone 5 drilling reported here are shown in Figure 2.

Figure 2. UR2 drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Oblique view looking down to the NW. The drill holes shown here primarily targeted areas of the UR2 lode scheduled for near-term mining below current underground developments.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/250404_792a212d848f0816_002full.jpg

Note on Composite Grades

The drill holes reported in this news release are oriented approximately perpendicular to mineralization. The reported intercepts therefore approximate the true width of mineralization. Tuvatu consists of high-grade narrow vein mineralization. The headline intercept of 236.00 g/t gold over 0.4 m therefore has an approximate true width of 0.4 m, as reported. The minimum mining width at Tuvatu is approximately 1.5 m. In reporting drillhole intercepts Lion One uses a grade composite cut-off of 3 g/t gold with <1 m internal dilution at <3 g/t. Drill hole intervals that are <3 g/t are below cutoff and are not included in Table 2.

Competent Person’s Statement

Lion One Laboratories / QAQC

About Lion One Metals Limited

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

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

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

Appendix 1: Full Drill Results and Collar Information

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

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0311	1876383	3920627	128	79.2	-48.5	165.3
TGC-0313	1876384	3920429	94	107.5	-28.3	135.1
TGC-0315	1876384	3920625	128	111.7	-15.9	130.9
TGC-0316	1876384	3920429	94	96.5	-27.8	121.5
TGC-0318	1876383	3920626	128	111.3	-20.2	131.3
TGC-0319	1876384	3920429	94	99.9	-19.8	141.4
TGC-0321	1876384	3920626	128	100.8	-16.4	125.7
TGC-0323	1876384	3920428	94	114.9	-21.0	122.6
TGC-0325	1876384	3920626	128	103.4	-21.9	130.3
TGC-0326	1876384	3920427	94	129.7	-19.9	133.4
TGC-0327	1876384	3920626	128	92.0	-17.0	126.6
TGC-0330	1876384	3920426	94	143.5	-19.9	122.7
TGC-0331	1876384	3920626	128	93.4	-23.0	125.4
TGC-0332	1876384	3920428	94	122.0	-27.7	121.0
TGC-0333	1876384	3920627	128	88.1	-20.9	122.6
TGC-0335	1876384	3920627	128	157.4	0.8	131.6
TGC-0336	1876384	3920429	94	94.9	-22.5	109.7
TGC-0338	1876384	3920429	94	106.3	-22.8	95.8
TGC-0339	1876384	3920627	128	78.4	-19.9	120.0
TGC-0341	1876384	3920428	94	113.4	-25.2	95.6
TGC-0342	1876384	3920627	128	76.0	-14.5	121.3
TGC-0343	1876384	3920429	94	101.1	-25.8	105.0
TGC-0345	1876384	3920627	128	73.9	-22.0	125.7
TGC-0347	1876384	3920627	128	68.7	-20.7	111.5
TGC-0351	1876383	3920628	128	64.0	-18.1	130.0
TGC-0355	1876383	3920628	128	59.4	-17.4	135.0
TGC-0359	1876383	3920628	128	60.8	-9.3	135.0
TGC-0360	1876383	3920628	128	57.0	-11.3	139.0
TGC-0363	1876383	3920628	128	54.7	-16.1	143.3
TGC-0365	1876383	3920628	128	52.9	-11.1	148.0
TGC-0367	1876383	3920628	128	51.3	-17.8	155.6
TGC-0370	1876383	3920628	128	49.5	-13.0	165.9

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

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0311		140.1	140.4	0.3	14.59
		150.2	151.3	1.1	7.11
	including	150.2	150.7	0.5	11.83
	and	150.7	151.0	0.3	0.93
	and	151.0	151.3	0.3	4.96
TGC-0313		57.3	57.8	0.5	4.92
		65.8	66.3	0.5	4.65
		74.0	75.6	1.6	5.15
	including	74.0	74.4	0.4	5.68
	and	74.4	74.9	0.5	0.07
	and	74.9	75.2	0.3	2.96
	and	75.2	75.6	0.3	13.46
		83.2	84.4	1.2	5.16
TGC-0315		95.8	96.2	0.4	3.54
TGC-0316		56.6	58.2	1.6	8.48
	including	56.6	56.9	0.3	19.58
	and	56.9	57.2	0.3	12.37
	and	57.2	57.6	0.4	4.95
	and	57.6	58.2	0.6	3.33
		60.9	61.2	0.3	9.30
		64.2	64.5	0.3	4.96
		79.6	80.6	1.0	5.98
	including	79.6	79.9	0.3	6.46
	and	79.9	80.3	0.4	3.38
	and	80.3	80.6	0.3	8.98
TGC-0318		103.6	104.9	1.3	18.03
	including	103.6	104.3	0.7	8.71
	and	104.3	104.9	0.6	28.90
		120.4	120.7	0.3	3.71
TGC-0319		51.8	52.3	0.5	3.51
		61.5	61.9	0.4	8.08
		66.7	69.0	2.3	4.43
	including	66.7	67.1	0.3	3.12
	and	67.1	67.4	0.3	0.94
	and	67.4	68.0	0.6	0.03
	and	68.0	68.5	0.5	11.28
	and	68.5	69.0	0.5	5.56
		70.3	70.6	0.3	37.50
		71.8	73.9	2.1	4.61
	including	71.8	72.2	0.4	3.96
	and	72.2	72.6	0.4	5.09
	and	72.6	73.5	1.0	1.62
	and	73.5	73.9	0.3	13.87
		90.0	90.3	0.3	4.58
TGC-0321		103.1	103.5	0.4	5.22
		106.2	108.1	1.9	4.74
	including	106.2	106.6	0.4	4.53
	and	106.6	106.9	0.3	6.99
	and	106.9	107.2	0.3	1.45
	and	107.2	107.8	0.6	5.36
	and	107.8	108.1	0.3	4.84
TGC-0323		57.9	59.8	1.9	10.42
	including	57.9	58.2	0.3	13.68
	and	58.2	58.5	0.3	1.37
	and	58.5	58.8	0.3	4.45
	and	58.8	59.1	0.3	14.99
	and	59.1	59.5	0.4	14.28
	and	59.5	59.8	0.3	12.43
		64.4	64.7	0.3	4.60
		100.5	100.8	0.3	5.98
TGC-0325		110.3	113.5	3.2	3.55
	including	110.3	110.9	0.6	4.70
	and	110.9	111.5	0.6	0.72
	and	111.5	111.8	0.3	3.02
	and	111.8	112.1	0.3	7.40
	and	112.1	112.5	0.4	5.69
	and	112.5	112.9	0.4	0.14
	and	112.9	113.2	0.3	0.23
	and	113.2	113.5	0.3	8.56
TGC-0326		62.4	62.7	0.3	3.15
		64.4	64.8	0.3	3.85
		65.5	65.8	0.3	3.58
TGC-0327		101.9	104.3	2.4	14.23
	including	101.9	102.2	0.3	3.24
	and	102.2	102.7	0.5	2.86
	and	102.7	103.0	0.3	8.35
	and	103.0	103.3	0.3	20.58
	and	103.3	103.7	0.4	23.37
	and	103.7	104.3	0.6	22.86
TGC-0330		75.0	75.3	0.3	6.02
TGC-0331		108.2	108.8	0.6	4.17
	including	108.2	108.5	0.3	3.15
	and	108.5	108.8	0.3	5.19
TGC-0332		67.1	69.6	2.5	18.26
	including	67.1	67.4	0.3	12.37
	and	67.4	67.8	0.3	<0.01
	and	67.8	68.2	0.4	<0.01
	and	68.2	68.6	0.4	89.63
	and	68.6	68.9	0.3	14.51
	and	68.9	69.2	0.3	3.73
	and	69.2	69.6	0.4	4.66
TGC-0333		103.5	106.1	2.6	9.22
	including	103.5	103.8	0.3	13.88
	and	103.8	104.2	0.4	5.02
	and	104.2	104.6	0.4	35.43
	and	104.6	104.9	0.3	4.41
	and	104.9	105.8	0.9	0.58
	and	105.8	106.1	0.3	5.96
TGC-0335		102.1	104.4	2.3	16.34
	including	102.1	102.6	0.5	21.78
	and	102.6	103.2	0.6	23.57
	and	103.2	103.8	0.6	17.20
	and	103.8	104.4	0.6	3.71
TGC-0336		52.2	52.7	0.6	7.64
		56.2	56.9	0.7	11.29
	including	56.2	56.6	0.4	3.00
	and	56.6	56.9	0.3	21.78
		65.0	65.4	0.4	9.40
		71.8	72.8	1.0	3.99
	including	71.8	72.3	0.5	3.15
	and	72.3	72.8	0.5	4.87
		76.9	77.8	0.9	8.32
	including	76.9	77.2	0.3	15.86
	and	77.2	77.8	0.6	4.20
		102.0	103.0	1.0	17.90
TGC-0338		54.9	55.5	0.6	3.82
		69.1	69.7	0.6	25.89
		71.7	72.3	0.6	20.54
TGC-0339		104.7	107.7	3.0	16.85
	including	104.7	105.6	0.9	38.27
	and	105.6	105.9	0.3	8.93
	and	105.9	106.5	0.6	0.16
	and	106.5	106.8	0.3	3.92
	and	106.8	107.7	0.9	13.49
TGC-0341		63.0	64.0	1.0	5.23
	including	63.0	63.3	0.3	3.44
	and	63.3	64.0	0.7	6.00
		68.5	69.1	0.6	22.78
TGC-0342		104.3	105.0	0.7	13.87
TGC-0343		58.1	58.8	0.7	3.81
	including	58.1	58.4	0.3	4.58
	and	58.4	58.8	0.4	3.23
		60.2	60.5	0.3	4.32
		61.7	63.2	1.5	27.08
	including	61.7	62.2	0.5	6.69
	and	62.2	62.5	0.3	94.23
	and	62.5	62.8	0.3	9.85
	and	62.8	63.2	0.4	15.14
		68.9	70.3	1.4	25.96
	including	68.9	69.2	0.3	28.99
	and	69.2	69.7	0.5	3.01
	and	69.7	70.3	0.6	43.58
		75.3	78.0	2.7	15.36
	including	75.3	75.6	0.3	47.25
	and	75.6	75.9	0.3	13.93
	and	75.9	76.2	0.3	2.49
	and	76.2	76.7	0.5	0.30
	and	76.7	77.0	0.3	6.02
	and	77.0	77.3	0.3	13.46
	and	77.3	77.7	0.4	14.67
	and	77.7	78.0	0.3	35.07
TGC-0345		109.4	109.8	0.4	236.00
TGC-0347		109.0	110.2	1.3	29.44
	including	109.0	109.3	0.3	3.65
	and	109.3	109.9	0.6	3.95
	and	109.9	110.2	0.3	102.35
TGC-0351		111.2	113.0	1.8	4.84
	including	111.2	112.4	1.2	5.07
	and	112.4	113.0	0.6	4.39
TGC-0359		106.7	107.2	0.5	3.80
		110.7	113.7	3.0	25.89
	including	110.7	111.0	0.3	3.07
	and	111.0	111.5	0.5	26.50
	and	111.5	112.0	0.5	101.58
	and	112.0	112.5	0.5	5.43
	and	112.5	112.9	0.4	6.09
	and	112.9	113.2	0.3	10.42
	and	113.2	113.7	0.5	8.89
TGC-0360		115.6	116.2	0.6	34.99
TGC-0363		116.8	117.6	0.8	17.46
	including	116.8	117.2	0.4	27.33
	and	117.2	117.6	0.4	7.58
TGC-0370		109.2	109.5	0.3	3.23

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250404

Base Metals Energy Precious Metals

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

Post author By admin
Post date April 29, 2025

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

Private Placement Offering

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

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

Mineral Property Exploration			$ 750,000
Mineral Rights and Exploration Permits			80,000

Working capital	Outstanding management fees to Officers	$ 12,000
	Other accounts payable	65,000	$ 77,000

Corporate Overhead	Management fees to Officers	$ 18,000
(3 months)	Other Corporate Overhead	75,000	$ 93,000

Maximum proceeds			$ 1,000,000

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

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

Debt Settlement Agreement

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

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

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

Corporate Update – Greenwood Precious and Critical Minerals Project

Figure 1: Grizzly Mineral Claims, Targets and Drill Permits

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/250140_4814aeeae41c3aca_002full.jpg

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

Highlights

Motherlode Mine Area

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

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

Figure 2: Motherlode Historical Drillhole ML96-8 Greenwood Project

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Midway

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

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

Quality Assurance and Control

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

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

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

ABOUT GRIZZLY DISCOVERIES INC.

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

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

Caution concerning forward-looking information

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

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

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

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