Category: Precious Metals

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Junior Mining Precious Metals

Barton Gold Offers Cheap Gold in Australia

Bob Moriarty
Archives
Jul 29, 2024

I think we are in a perfectly normal correction after a shot higher to a new record high for gold a week ago. Gold has come down about four percent while silver dropped about ten percent. Markets go up. Markets go down. We are still in the most favorable time of the year for resource stocks into September.

That makes this an appropriate time to be looking around for the next good cheap stock. Someone contacted me about a company a few weeks ago and I think I have found what looks like a potential winner.

The company named Barton Gold (BGD-ASX and BGDFF-OTCQB) calls South Australia home. I’ve visited Australia a number of times and often the Aussies grouse about how little their fellow countrymen are willing to spring for gold in the ground.

Barton Gold is a perfect example. The company shows an existing 1.6-million-ounce gold JORC resource with a market cap of $52 million in Australian pesos. Given the approximately $10 million in cash it means local punters are only willing to pay about $21 an ounce for gold in the ground from a company with permits and an existing mill. If you multiply the $21 Aussie by a conversion of .66 for USD you come up with $14 an ounce in USD. That’s absurdly cheap and if Barton Gold was in Nevada or Quebec at this stage they would probably be getting more like $50-$60 an ounce at a minimum.

Barton’s solution proved to be simple. Get an OTCQB listing and sell those cheap ounces to American and Canadian investors. But even there is a problem that I am going to be 100% up front about.

WHEN BUYING OR SELLING OTC LISTED STOCKS, DO NOT EVER, EVER, EVER PUT IN A MARKET ORDER.

SHOULD YOU DO THAT, THE BROKER WILL BEND YOU OVER A BARREL AND DO TERRIBLE THINGS TO YOU THAT YOU WILL NOT ENJOY. IT WILL BE THE MOST EXPENSIVE SEX YOU HAVE EVER SUFFERED.

(Click on images to enlarge)

That’s a six-month chart taken from HotCopper showing the price in Australian dollars. It shows shares trading at about $.25 six months ago rising to $.35 and dropping gradually and steadily to $.24 today.

That’s what happens when investors put in market orders. Those buying through the OTCQB were paying up to $.50 in USD for shares that were only worth a tiny fraction of that. The brokers screwed them.

But the chart of BGD does indicate what I have said, at current prices Barton Gold seems pretty cheap. Let’s go into the particulars.

Barton Gold indicates over 5,000 square km of tenements in the center of South Australia with various properties containing 1.6 million ounces of gold in a JORC report.

A recent scoping study released only two weeks ago shows a 6.4 year mine life for the existing 1.5 million ounce resource at the Tunkillia project producing 130,000 ounces of gold yearly and 311,000 ounces of silver. The Tunkillia mine would require $374 million initial capex with a NPV at 7.5% of $512 million and a 40% IRR with a 1.9-year payback of initial capital. The average LOM AISC would be $1,917 and compares favorably with the current price for gold of $3615.

At the nearby Tarcoola Gold mine and mill, Barton recently completed a 9,000-meter RC drill program with a nine-hole 900 meters drill program just finished in the Perseverance open pit. Tarcoola has the advantage of being within trucking distance of the Challenger 650 TPD CIL plant. Results from the almost 10,000-meter program will be released soon.

Managing Director and CEO Alex Scanlon takes a very aggressive approach to building the next mid-tier gold company in Australia. He is young, frankly that is a good thing, we need new young thinking in the industry. He has a plan and is busy executing it.

In June of 2021 he came up with a plan for asset monetization that has generated A$ 10 million sufficient non-dilutive cash to pay 100% of the corporate overhead. One brilliant move was in December of 2022 to do a thorough mill cleanup that generated 1,400 ounces of gold. That was sold in June of 2024 near the all-time high for gold to generate a payment of $4.25 million AUD.

Alex is an excellent communicator and a glance at the timing of recent ASX announcements show a constant flow of valuable information. I highly recommend all potential investors go over their excellent presentation and work out the numbers. For a company with 1.6 million ounces of gold with a 650 TPD and is permitted, this is some of the cheapest gold you will ever find.

Barton Gold is an advertiser so that makes me biased. Do your own due diligence.

Barton Gold Holdings Limited
BGD-ASX $.24 Aussie (Jul 26, 2024)
BGDFF-OTCQB $.17 USD
219 million shares 
Barton Gold website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Junior Mining Precious Metals

Tom DiLorenzo: The American tradition of abolishing central banks

In discussing the Mises Institute’s June 24th full-page Wall Street Journal ad entitled “Who Needs the Fed?” on talk radio recently most of the interviewers naturally expressed skepticism over whether the Fed could ever actually be abolished and a gold-and-silver standard reinstituted. It reminded me of something Murray Rothbard said about this. If the government had monopolized say, shoe production a hundred years ago and someone suggested the privatization of shoe production, there would be cries of: “Who will make shoes? The government has always made shoes!”

Well, America has not always had a central bank and in fact, the three precursors of the Fed — the Bank of North America, the First Bank of the United States, and the Second Bank of the United States — were all abolished in the eighteenth and nineteenth centuries. It happened then, and it can happen again.

In The Mystery of Banking Murray Rothbard explained how the Bank of North America (1782-1783) was “driven through Congress” by Rep. Robert Morris, a Philadelphia financier and a leader of the Federalist party. The agenda of the Federalists, said Rothbard, was “to reimpose in the new United States a system of mercantilism and big government similar to that in Great Britain, against which the colonists had rebelled.” That would have included a powerful central government with a king or “permanent president,” as Alexander Hamilton said, that would “be built up by high taxes and heavy public debt . . . high tariffs . . . a big navy to open up and subsidize foreign markets for American exports, and launch a massive system of internal public works” (aka pork barrel spending). The United States was to have “a British System without Great Britain.”

A key component of what Rothbard called “the Morris scheme” was “to organize a central bank [modeled after the Bank of England] to provide cheap credit and expanded money for himself an his allies.” The Bank was given a monopoly privilege of its notes being receivable in all tax payments to state governments and the federal government, and no other banks were permitted to exist in the country! Despite these monopolistic privileges a lack of public confidence in the bank’s notes led to their severe depreciation, so much so that the bank was privatized after about a year and a half.

Former Fed Chairman Ben Bernanke once proudly announced that Alexander Hamilton was the founding father of central banking in America and indeed he was. He was what Rothbard called “Morris’s youthful disciple” and, as Treasury Secretary, he helped Morris and his business associates re-established a central bank by championing the First Bank of the United States (1791-1811), created after a historic a debate with Thomas Jefferson over the constitutionality of a national bank run by politicians.

Jefferson correctly argued that such an institution was not among the delegated powers of the federal government and that the constitutional convention debated the issue and decided against it. Hamilton responded by inventing his theory of “implied powers” of the constitution which, to this day, has the effect of allowing politicians to say that just about anything and everything the federal government does is “constitutional.”

Created in 1791, “The Bank of the United States promptly fulfilled its inflationary potential,” Murray Rothbard wrote in History of Money and Banking in the United States. It issued millions of dollars in paper money and demand deposits, on top of $2 million in gold and silver. It invested heavily in loans to the U.S. government. “The result of the outpouring of credit and paper money,” Rothbard wrote, was “in increase [in prices] of 72 percent” from 1791 to 1796.

Northern merchants and bond speculators supported the Bank, but the growing tax burden imposed by the Federalists to support the rapidly-growing public debt led to a political backlash that ended in Congress allowing its charter to lapse in 1811.

The War of 1812 was then used as an excuse to bring back the bank to monetize the war debt. It went back into business in January of 1817 and quickly inflated the currency, causing the Panic of 1819, which Murray Rothbard called the first depression in the “new country.”

In his book The Sovereign States James J. Kilpatrick devotes a chapter to the effects of the Second Bank on various states. He wrote of mismanagement, speculation, and fraud that was so pervasive that it created “a wave of hostility toward the Bank of the United States all throughout the country. Indiana and Illinois amended their constitutions to prohibit the Bank of the United States (BUS) from operating there. North Carolina, Georgia, Maryland, Tennessee, and Kentucky imposed heavy taxes on BUS branches that popped up in those states ($60,000 per year in Kentucky). The obvious purpose of these taxes was to drive the BUS out of the state. When the BUS refused to pay the $50,000 per year tax on each of two branches to the state of Ohio the Ohio legislature sent an armed marshal to the bank who walked into the vault and retrieved $100,000. Connecticut, South Carolina, New York, and New Hampshire then followed Ohio’s lead.

By the 1820s the BUS had become a bureaucratic behemoth with twenty-nine branches; its main headquarters in Philadelphia “looked like a Greek temple,” wrote historian Robert Remini, and “had earned widespread hatred and fear throughout a substantial part of the nation.”

Upon taking office in March of 1829 President Andrew Jackson condemned the BUS as “a monster, a hydra-headed monster . . . equipped with horns, hoofs, and a tail so dangerous that it impaired the morals of our people, corrupted our statesmen, and threatened our liberty. It bought up members of Congress by the dozen . . . subverted the electoral process, and sought to destroy our republican institutions.”

The BUS’s supporters were the corrupt remnants of the old Hamiltonian/Federalist political machine, primarily from the ranks of the “one percenters” of the day. Its opponents were by contrast “men from all classes,” and “from all sections of the country,” wrote Remini in Andrew Jackson and the Bank War.

On July 10, 1832 President Andrew Jackson vetoed the bill to recharter the BUS and his veto was not overridden. The BUS eventually went out of business over the next several years. Jackson’s veto statement roundly condemned the institutionalized political cronyism of the BUS, which of course was always Hamilton’s (and Morris’s) main objective. “It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes,” said Jackson. Government grants of “titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful” are illegitimate, he said. “The humble members of society . . . who have neither the time nor the means of securing like favors . . . have a right to complain of the injustice of their Government.” He then vetoed the bill.

The statist court historians of the American academic history profession have long slandered this classic, libertarian declaration as “beneath contempt,” wrote Robert Remini. Of course they have. Court historians are always rewarded in myriad ways for being the apologists, propagandists, and mouthpieces of corrupt political establishments.

So there are three examples in American history of central banks being abolished. It took the political descendants of the old Hamilton/Federalist coalition another seventy five years to re-establish another central bank that has, for the past 111 years, caused the worst boom-and-bust cycles in American history, the worst price inflation in American history, bailed out crooked and incompetent banks with untold billions of dollars, and fostered the exact same kind of cronyism and corruption that so incensed the Jacksonian libertarians. The Fed cannot be reformed. It is time that it went the way of the Bank of North America and the BUS.

Credit: https://dollarcollapse.com/tom-dilorenzo-the-american-tradition-of-abolishing-central-banks/

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Junior Mining Lion One Metals Precious Metals

Lion One Announces Closing of Financings

North Vancouver, British Columbia–(Newsfile Corp. – July 26, 2024) – Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQX: LOMLF) (“Lion One” or the “Company“), is pleased to announce that the Company has closed the fully-subscribed upsized brokered private placement financing (the “LIFE Offering“) previously announced on July 18, 2024 and July 19, 2024 by issuing 27,027,027 units of the Company (the “Units“) at a price of C$0.37 per Unit (the “Offering Price“) for aggregate gross proceeds of C$10,000,000, pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “LIFE Exemption“) in each of the Provinces of Canada other than Quebec, pursuant to the terms of the agency agreement (the “Agency Agreement“) dated as of July 26, 2024, among the Company, Eight Capital, and Canaccord Genuity Corp. (collectively, the “Agents“).

Each Unit consists of one common share (a “Common Share“) in the capital of the Company and one common share purchase warrant (a “Warrant“) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price per Warrant Share of C$0.50 for a period of 36 months from the closing date of the LIFE Offering.

Concurrently with the LIFE Offering, the Company completed, a non-brokered private placement of 4,458,352 Units on the same terms as the LIFE Offering, for gross proceeds of C$1,649,590.24 (the “Sidecar Private Placement“, and together with the LIFE Offering, the “Offering“) pursuant to applicable exemptions under NI 45-106 other than the listed issuer financing exemption. In aggregate, under the Offering the Company issued 31,485,379 Units for gross proceeds of C$11,649,590.24.

In connection with the LIFE Offering, the Company (i) paid to the Agents a cash commission of C$700,000, which was equal to 7.0% of the gross proceeds from the LIFE Offering; and (ii) issued an aggregate of 1,891,891 compensation warrants (“Compensation Warrants“), equal to 7.0% of the number of Units sold pursuant to the LIFE Offering. Each Compensation Warrant is exercisable for one Common Share at a price of C$0.37 for a period of 24 months from the closing date of the LIFE Offering.

In connection with the Sidecar Private Placement, the Company (i) paid a cash commission to a finder (the “Finder“) in the aggregate of C$38,850, which was equal to 5% of the gross proceeds in respect of subscribers introduced to the Company by the Finder; and (ii) issued an aggregate of 105,000 Compensation Warrants, equal to 5% of the number of Units sold to subscribers introduced to the Company pursuant to the Sidecar Private Placement. Each Compensation Warrant is exercisable for one Common Share at a price of C$0.37 for a period of 24 months from the closing date of the Sidecar Private Placement.

The net proceeds received by the Company from the sale of the Units will be used for development and ramp up expenses at the Tuvatu Gold project located in Fiji, as well as for general corporate expenses & purposes.

The LIFE Offering was completed pursuant to the LIFE Exemption, and accordingly, the securities issued in the LIFE Offering are not subject to a hold period in accordance with applicable Canadian securities laws. The securities issued under the Sidecar Private Placement are subject to a hold period expiring on November 27, 2024 pursuant to applicable Canadian securities laws.

Certain subscribers under the Sidecar Private Placement are directors and management of the Company. The issuance of Units to directors and management of the Company constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101“). The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward-looking statements or information. Forward-Looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-Looking statements made in this news release include statements regarding anticipated completion of the Offering and debt settlement, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-Looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Offering Document. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217822

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Junior Mining Precious Metals Project Generators

Silver Crown Royalties Goes Public on Cboe Canada

TORONTO, July 25, 2024–(BUSINESS WIRE)–Cboe Canada Inc. (“Cboe Canada”) is excited to announce the public markets debut of Silver Crown Royalties Inc. (“Silver Crown” or “SCRI”), a revenue-generating silver-only royalty company headquartered in Toronto. The company is now trading on Cboe Canada under the symbol SCRI.

Silver Crown unlocks previously unrecognized value by offering existing mining companies an up-front payment in exchange for the rights to revenues generated from the byproduct silver they mine. Silver Crown currently receives royalties from two mines, with another projected to begin producing revenues for Silver Crown in 2025, pending successful closing of the definitive agreement.

“We are excited to begin trading on the Cboe Canada stock exchange,” said Peter Bures, CEO of Silver Crown. “We believe Cboe’s exposure will help our objective of lowering our cost of capital, and creating both customer awareness and liquidity for investors, ultimately unlocking shareholder value.”

Investors can trade shares of Cboe-Listed SCRI through their usual investment channels, including discount brokerage platforms and full-service dealers.

“Silver Crown is helping mining companies propel their operations forward by offering real, useable capital in exchange for the revenue generated from a byproduct of their operations,” noted Joacim Wiklander, Head of Global Listings at Cboe Global Markets. “Congratulations to Silver Crown on taking this critical step forward in their capital markets journey. We are honoured to be selected as their exchange of choice during this pivotal time and look forward to providing superior liquidity, enhanced investor exposure, and world-class support and service. Welcome to Cboe!”

Cboe Canada is home to over 300 unique listings, including some of the most innovative Canadian and international growth companies, ETFs from Canada’s largest ETF issuers, and Canadian Depositary Receipts (CDRs). Cboe consistently facilitates 15% of all volume traded in Canadian listed securities. For a complete view of all securities listed on Cboe Canada, click here.

About Cboe Canada

Cboe Canada is Canada’s Tier 1 stock exchange providing a best-in-class listing experience for issuers that are shaping the economies of tomorrow. Fully operational since 2015, Cboe Canada lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Cboe Canada is part of the Cboe Global Markets network, leveraging deep international expertise, industry-leading market intelligence and technology, and unparalleled service to deliver what stakeholders and the world need now, and for the future.

Connect with Cboe Canada: Website | LinkedIn | X | Instagram | Facebook

About Silver Crown Royalties

Founded by industry veterans, SCRi is a revenue-generating silver-only royalty company focusing on silver as byproduct credits. SCRi aims to minimize the economic impact on mining projects while maximizing returns for shareholders. SCRi presently has two sources of revenues and continues to build on this foundation, targeting additional operational silver-producing projects.

Connect with Silver Crown Royalties: Website | LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20240725240925/en/

Contacts

Cboe Canada Media Contact:
media@cboe.ca

Categories
Junior Mining Precious Metals

Gold79 Announces Gold Chain Share Payment

Ottawa, Ontario–(Newsfile Corp. – July 23, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces that the Company intends to issue 306,396 common shares of the Company in connection with a US$48,000 (CAD$66,024) share payment due under the option agreement covering a portion of the Company’s landholdings for the Gold Chain project in Arizona.

The common shares issued will have a statutory hold period of four months and one day from the date of issuance. This shares-for-debt transaction remains subject to TSX-V approval.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.

For further information regarding this press release contact:

Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedarplus.ca. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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/217504

Categories
Junior Mining Precious Metals

Lion One Announces $2 Million Sidecar Private Placement

North Vancouver, British Columbia–(Newsfile Corp. – July 22, 2024) – Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQB: LOMLF) (“Lion One” or the “Company”), is pleased to announce that in response to market demand, it has arranged, subject to the approval of the TSX Venture Exchange (“TSX-V“), a non-brokered private placement (the “Sidecar Private Placement“) of up to 5,405,405 units (the “Units“) at a price of $0.37 per Unit for total gross proceeds of up to $2,000,000. Each Unit consists of one common share (the “Common Shares“) and one Common Share purchase warrant (the “Warrants“), each such Warrant exercisable at a price of $0.50 per share and expiring 36 months from the date of issue.

The Sidecar Private Placement reflects the same terms as the previously announced $10 million private placement led by Eight Capital as lead agent (the “Agent“) pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “LIFE Offering“). However, the Sidecar Private Placement will be settled directly with the Company and not through the Agent. The Company may pay a finder’s fee on the Sidecar Private Placement in accordance with the policies of the TSX-V. The net proceeds of the Sidecar Private Placement will be used for working capital and general corporate purposes. All securities issuable pursuant to the Sidecar Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities laws.

The Sidecar Private Placement is expected to complete concurrently with the LIFE Offering. In aggregate, under the LIFE Offering and the Sidecar Private Placement the Company expects to issue 32,432,432 Units for gross proceeds of $11,999,999.80.

Certain subscribers under the Sidecar Private Placement are expected to be directors and management of the Company. The issuance of Units to directors and management of the Company will constitute a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61- 101“). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

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

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Sidecar Private Placement and the Offering, and the proposed use of proceeds of the Sidecar Private Placement and the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Sidecar Private Placement and the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Sidecar Private Placement and the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217406

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Announces Extension to Private Placement

Edmonton, Alberta–(Newsfile Corp. – July 19, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces an extension to the private placement (the “Offering”) of Units and Flow-Through Units originally announced on June 20, 2024. The Offering is for aggregate gross proceeds of $1,000,000 if fully subscribed. The Offering consists of up to 16,666,668 Units and up to an additional 16,666,668 in any combination of Units or Flow-Through Units, at a price of $0.03 per Unit and Flow-Through Unit (each as defined below).

Each Unit shall consist of one common share of the Company (“Common Share”) and one non-transferrable common share purchase warrant (“Warrant”) entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance. Each Flow-Through Unit 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, as follows:

Mineral Property ExplorationDrill Exploration Program$ 500,000
Other$ 100,000$ 600,000
Mineral Rights and Permits$ 105,000
Corporate OverheadManagement fees to Officers$ 72,000
(6 months)Other Corporate Overhead$ 213,000$ 285,000
General working capital$ 10,000
$ 1,000,000

There is no minimum to the Offering. If the Company closes on less than the maximum proceeds, the use of proceeds will be adjusted. In the case that the Offering is over-subscribed, the Company may increase the size of the Offering by an additional 10%, with any remaining over-subscribed amount allocated pro-rata to all subscribers.

In connection with the Offering, the Company may pay finders fees payable in any combination of cash and warrants with terms equivalent to the 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. The Offering is subject to acceptance by the Exchange.

ABOUT GRIZZLY DISCOVERIES INC.

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

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

Caution concerning forward-looking information

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

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217202

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Announces Upsize of Brokered Private Placement to $10 Million

Lion One Metals Ltd.
Lion One Metals Ltd.

NORTH VANCOUVER, British Columbia, July 19, 2024 (GLOBE NEWSWIRE) — Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce that it has entered into an amended agreement with Eight Capital as lead agent (the “Agent”), to upsize the previously announced private placement. In connection with the upsized offering, the Company will issue up to 27,027,027 units of the Company (the “Units”) at a price of $0.37 per Unit (the “Issue Price”) for aggregate gross proceeds of up to $10,000,000 pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “Offering”), in each of the Provinces of Canada other than Quebec. Each Unit will consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.50 for a period of three years from the date of issuance.

The Company will make available an offering document relating to the Offering (the “Offering Document”) which will be accessible under the Company’s profile at www.sedarplus.ca and at https://liononemetals.com. Prospective investors in the Offering should read the Offering Document before making an investment decision.

The Offering is expected to close on or around July 26, 2024 (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any Shares in the United States. The securities to be sold in the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 of
Lion One Metals Limited
“Walter Berukoff”
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

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

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Offering and debt settlement, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering and debt settlement, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Offering Document. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Categories
Base Metals Breaking Energy Precious Metals

The US debt is about to hit $35 trillion. It’s barely come up at the GOP convention.

Ben Werschkul·Washington Correspondent

Thu, Jul 18, 2024

The national debt is on the cusp of a grim milestone, but it’s one of the least discussed topics at the Republican National Convention this week.

President Joe Biden hasn’t mentioned it much either as he has campaigned across the country.

Outstanding government debt stood at $34.9 trillion ($34,940,154,000,000 to be somewhat more precise) as of Tuesday, according to the latest data from the Treasury Department.

That’s a debt load that now represents over 120% of GDP. Earlier this year, the cost of interest payments alone passed the cost of defense spending.

The psychologically important $35 trillion milestone will likely be crossed sometime between this week’s Republican National Convention and when the Democrats gather in a few weeks’ time in Chicago — if debt continues to grow by an average of about $8 billion a day.

All told, the debt could represent 166% of America’s GDP by 2054.

https://flo.uri.sh/visualisation/15552562/embed?auto=1

Yet a Yahoo Finance review of this week’s flood of political commentary — both Republicans in Milwaukee and Biden on the campaign trail — underlines a political reality of this election season: This historic debt is simply not a front-burner issue.

“We stand for fiscal sanity, for low taxes, and for reduced debt,” said Florida Gov. Ron DeSantis as he endorsed Republican nominee Donald Trump on Tuesday night.

What the line contained in snappiness it perhaps lacked in internal consistency. Lowering taxes is likely to increase deficits and debt.

“Our government sold us a false bill of goods with the Iraq war and the 2008 financial crisis loading up our national debt that falls on our generation’s shoulders,” added former presidential candidate Vivek Ramaswamy during his speech.

He overlooked how 2017 tax cuts and other policies enacted by Trump as president have contributed mightily to the current total.

The debt rose by nearly $8 trillion during Trump’s time in office. Biden is on pace to oversee a similar rise. In total, the national debt has ballooned by more than 70% over the last 7.5 years, fueled by a flood of new spending as well as these obligations stretching back decades.

TOPSHOT - Former US President and 2024 Republican presidential candidate Donald Trump is displayed on a screen as he arrives during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024. Days after he survived an assassination attempt Donald Trump won formal nomination as the Republican presidential candidate and picked right-wing loyalist J.D. Vance for running mate, kicking off a triumphalist party convention in the wake of last weekend's failed assassination attempt. (Photo by Pedro UGARTE / AFP) (Photo by PEDRO UGARTE/AFP via Getty Images)
Former President Donald Trump is displayed on a screen during the second day of the 2024 Republican National Convention in Milwaukee. (PEDRO UGARTE/AFP via Getty Images) (PEDRO UGARTE via Getty Images)

All told, the vast majority of the major convention speeches so far this week haven’t brought up debt or deficits at all, according to a review of transcripts and videos. The Republican platform offers promises to cut “wasteful government spending” but doesn’t discuss debt or deficits directly.

It’s a notable shift for the Republicans who in years past campaigned on ideas like a balanced budget amendment and fielded major candidates who rose through the ranks as members of the deficit hawk wing of the party.

That wing of the party still exists but was far from prominent this week.

“The fiscal warning signs are really just so bright, so loud, and it’s as though nobody who’s running for office is paying attention,” said Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, in a recent Yahoo Finance interview.

Few mentions from Biden as well

The same has been true to a certain extent on the other side of the aisle this week.

The debt didn’t come up when Biden sat down with NBC’s Lester Holt on Monday.

The president did talk about the issue Tuesday at an economic summit in North Las Vegas.

Before cutting his trip short after a positive COVID test, he said that his plan to make billionaires have to pay a minimum tax of 25% will generate $500 billion over the next decade, “allowing us to do more for childcare, eldercare, bring down the federal deficit, and so much more.”

But it’s a plan unlikely to pass Congress, even if Biden wins a second term.

Gallup recently found that federal spending and the budget deficit are collectively something 51% of respondents worry “a great deal” about, the sixth highest issue on the list.

But that issue hasn’t translated into a campaign focus for either side.

President Joe Biden walks from Air Force One as he arrives at Harry Reid International Airport in Las Vegas, Monday, July 15, 2024. (AP Photo/Susan Walsh)
President Joe Biden arrives at Harry Reid International Airport in Las Vegas for a campaign swing this week. (AP Photo/Susan Walsh) (ASSOCIATED PRESS)

Biden has overseen mounds of new red ink but has also overseen decreasing deficits, with the US running a $1.7 trillion deficit in fiscal year 2023 and on pace for a slightly better result this year.

Another positive trend is that debt as a percentage of GDP has stabilized and even declined slightly in recent years.

Tax cuts that could make it worse

The lack of focus on debt also comes as there is massive focus on another issue that could make the problem worse: taxes.

These rates will be a top-tier issue in 2025, with major individual provisions of the 2017 Trump tax cuts set to expire at the end of the year. That means taxpayers could face a significant effective tax hike if Washington doesn’t act.

The plans from both sides at the moment could add trillions more red ink in the years ahead.

Trump has repeatedly promised to extend the tax cuts across the board. That could add between $4 trillion and $5 trillion if not offset, estimates the Committee for a Responsible Federal Budget.

https://flo.uri.sh/visualisation/16706129/embed?auto=1

Some Republicans this week are even talking about a tax plan from the “Project 2025” effort led by Trump allies that could lead to even deeper cuts.

Biden’s plan is to extend the cuts for those making under $400,000 a year. That could still cost over $2 trillion.

Biden has offered detailed plans to offset at least some of these costs with tax increases elsewhere, like his effort to put a minimum tax of 25% on billionaires.

Trump has offered far less detail when confronted with questions about the national debt and said he could take care of it with drilling for oil — which he calls “liquid gold” — without elaborating on exactly how that would work.

“There is literally a pit in my stomach,” MacGuineas said, discussing the potential trillions of dollars in costs of these cuts. “There’s a pit in my stomach right now just talking about it with you.”

Ben Werschkul is Washington correspondent for Yahoo Finance. Akiko Fujita contributed reporting.

Original Source: https://finance.yahoo.com/news/the-us-debt-is-about-to-hit-35-trillion-its-barely-come-up-at-the-gop-convention-134447204.html?.tsrc=fin-notif

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Announces $7.5M Brokered Private Placement

Lion One Metals Ltd.
Lion One Metals Ltd.

NORTH VANCOUVER, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) — Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce that it has entered into an agreement with Eight Capital as lead agent (the “Agent”) and sole bookrunner in connection with a “best efforts” private placement of up to 20,271,000 units of the Company (the “Units”) at a price of $0.37 per Unit (the “Issue Price”) for aggregate gross proceeds of up to $7,500,270, pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “Offering”), in each of the Provinces of Canada other than Quebec. Each Unit will consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.50 for a period of three years from the date of issuance.

The Company will make available an offering document relating to the Offering (the “Offering Document”) which will be accessible under the Company’s profile at www.sedarplus.ca and at https://liononemetals.com. Prospective investors in the Offering should read the Offering Document before making an investment decision.

The Offering is expected to close on or around July 26, 2024 (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange. The Company has granted the Agent an option to offer for sale up to an additional 15% of the Units, at the Issue Price, exercisable in whole or in part at any time for a period of up to 48 hours prior to the Closing Date. The Units issued pursuant to the Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any Shares in the United States. The securities to be sold in the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 of
Lion One Metals Limited
“Walter Berukoff”
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

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

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Offering and debt settlement, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering and debt settlement, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Offering Document. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.