Category: Precious Metals

Gold’s surge signals rally to new all-time high underway, strategist says

Post author By admin
Post date November 28, 2023

Gold’s (GC=F) upward trend above $2,000 per ounce is prompting calls for a rally to a new all-time high.

Futures were 0.5% higher on Monday, just north of $2,013 per ounce. Prices are at six-month highs and up two weeks in a row.

That has boosted hopes that the precious metal could top its all-time high of $2,074.88 reached in August 2020.

“Gold [is] showing additional proof that a rally back to new all-time Highs is underway,” Mark Newton, head of technical strategy at Fundstrat, wrote in a recent note to clients.

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Most traders consider $2,050 as the breakout level for momentum to send prices to that level.

“My technical target for gold is $2500/oz, and it looks appealing to be long precious metals given falling real rates, rising cycles and ongoing geopolitical conflict,” said Newton.

3D illustration of two gold bars laying on regular stacked layer of 1kg 999,9 fine gold bar ingots. — Gold, seen as a safe-haven asset, has rallied in recent weeks. (Getty Images) (OsakaWayne Studios via Getty Images)

Michele Schneider, partner and director of trading education and research at MarketGauge.com, told Yahoo Finance last month that she thought gold could hit $3,000, noting that gold has held up “in the face of a stable dollar and higher rates.”

Gold is seen as a safe-haven asset during times of uncertainty. Its rise in price comes amid escalating geopolitical tensions in the Middle East following the surprise attack by Hamas on Israel last month.

Anticipation of an end to the Fed’s tightening cycle is also attracting buyers. The market’s speculation that the Federal Reserve is done raising interest rates has sent longer-term Treasury rates lower.

A declining 10-year Treasury yield makes gold more attractive to investors than bonds.

Central banks have been among the biggest gold buyers in the last couple of years, with a record-breaking first half of 2023.

Global official gold reserves are 120% higher quarter over quarter and the second highest third quarter total following the same period last year, according to industry group World Gold Council.

China is the largest buyer, followed by Poland and Singapore.

Silver Bullet Announces Assay Results of up to 24.2 oz/ton Silver from Zone1 and the Commencement of Milling

Post author By admin
Post date November 27, 2023

Burlington, Ontario–(Newsfile Corp. – November 27, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce high grade silver results as it moves to the next stage in the development of the new Zone1, as outlined in previous press releases.

In its press release of November 1, 2023, SBMI advised it was continuing to blast and muck in Zone1 towards what management believed to be a volume of higher grade silver mineralization. Since then, in the last three blasts the vein width significantly increased to over 19 feet wide, with current assays of up to 24.2 oz/ton silver from the new muck piles and directly from the vein (see chart below). This is significant as the Company believes it is very close to the 1969 historical drill holes, and expects the grade to increase in future blasts. It also provides strong support for management’s theory of the grade increasing as blasting penetrates further into Zone1.

Sample1	Oz/t silver	g/tonne silver
1A	17.6	603.4
1B	17.4	596.6
1C	18.0	617.1
Sample2
2A	11.0	377.1
2B	12.8	438.9
2C	12.8	438.9
Sample3
3A	20.2	692.6
3B	18.8	644.6
3C	20.2	692.6
Sample4
4A	24.2	829.7
4B	24.2	829.7
4C	24.2	829.7

“These results validate our interpretation of the historical and current data,” said A. John Carter, SBMI’s CEO. “The grades are increasing the further we blast into Zone1, as we expected. After battling through Covid, severe supply chain challenges, Mother Nature and unexpected price increases, it is rewarding to be hitting our targetted area, almost exactly where we expected it to be.”

As a result of these grades, management believes the recently blasted material to be economically viable and therefore is being prepared for transportation to the mill for processing. Upon receipt of the material the Company will restart the mill. SBMI is working with a transport company to arrange transportation to the mill.

The Company believes that due to the nugget effect nature of the host rock, milling could increase or decrease the overall grade.

Vein face as of Nov 17/23

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Close up on vein face as of Nov 17/23

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SBMI believes Zone1 to be the zone outlined in the historical data, including the 1969 drill results, and could contain a significant quantity of silver and other metals. The Company intends to continue to drill and blast in Zone1.

As described in the November 1, 2023 press release, a third party has advised it intends to soon send 900 pounds of gold concentrate to SBMI’s mill for processing into a higher purity product. SBMI and the third party will agree upon commercial terms once SBMI has had an opportunity to inspect the gold concentrate. Only minor changes will be made to the mill to enable the processing of the concentrate.

QA/QC

Channel samples and grab samples are taken after each blast, to be processed at the Company’s production assay lab located at the mill. In accordance with best practices, multiple assays have been and should continue to be sent to third party ISO-accredited labs for multielement analysis including precious metals and PGMs. Readers are cautioned that these samples may not be representative of the Buckeye Mine as a whole.

Samples 1, 2 and 3 were processed on November 17, 2023. Sample 4 was processed on November 22, 2023. All samples were run in triplicate.

All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188697

Junior Mining Precious Metals

Emperor Closes $1.5 Million Private Placement

Post author By admin
Post date November 24, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 24, 2023) – Emperor Metals Inc. (CSE: AUOZ) (OTC Pink: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to announce that it has completed a non-brokered private placement financing previously announced on November 17, 2023.

The Company issued 15,419,400 units (“Units“) at a price of $0.10 per Unit for gross proceeds of up to $1,541,940. Each Unit consists of one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.20 until November 24, 2025.

In connection with the sale of the Units, the Company paid a total of $41,575.80 in cash, and issued 415,758 finder’s warrants (the “Finder’s Warrants“) to eligible finders for certain of the Units sold. Each Finders’ Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.20 per share until November 24, 2025.

All securities issued are subject to a hold period until March 25, 2024.

The gross proceeds from the sale of the Units will be utilized to fund exploration and development of the Company’s Duquesne West Gold Project, and for general working capital.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Alexander Horsley”
Alexander Horsley, Director

For further information, please contact:
Alexander Horsley
Phone: 778-323-3058
Email: info@emperormetals.com
Website: www.emperormetals.com

THIS NEWS RELEASE MAY CONTAIN CERTAIN “FORWARD LOOKING STATEMENTS”. FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, ASSUMPTIONS AND OTHER FACTORS THAT MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING STATEMENTS. ANY FORWARD-LOOKING STATEMENT SPEAKS ONLY AS OF THE DATE OF THIS NEWS RELEASE AND, EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS, THE COMPANY DISCLAIMS ANY INTENT OR OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR RESULTS OR OTHERWISE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188666

Tags #JuniorMining, #MauriceJackson, #ProvenAndProbable, emperormetals

Base Metals Energy Junior Mining Precious Metals

Grizzly Reports the First Sample Results for the Newly Acquired Ground in the Marshall Lake Area of the Greenwood, BC Precious and Battery Metals Project

Post author By admin
Post date November 22, 2023

Edmonton, Alberta–(Newsfile Corp. – November 22, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce the first assay results for rock samples collected from the newly staked mineral claims in the Marshall Lake to Eholt area of Greenwood. These are some of the first geochemical results from several batches of samples, that the Company expects to receive additional results for over the coming months, for work conducted at the Marshall Lake area, Midway, Sappho-Lexington, Imperial and Beaverdell target areas within the Greenwood Precious and Battery Metals Project.

In addition, results will also be forthcoming from prospecting and sampling that have been conducted at the Robocop Property following up on copper-cobalt anomalous soils identified in work over the last two years.

Highlights:

A total of 92 rock grab samples were collected from outcrop and mineralized dump material across the new claims staked in August (highlighted in blue in Figures 1 and 2) yielding 21 samples with >0.5 grams per tonne (g/t) gold (Au) up to 154.5 g/t Au, along with high silver (Ag) up to 205 g/t Ag and high copper (Cu) up to 8.44 percent (%) Cu (Figures 1 and 2).
Rock grab samples from showings and mineralized dumps in the Marshall Lake area returned 11 samples with >0.5 g/t Au up to 154.5 g/t Au including 4 samples with >8.95 g/t Au up to 154.5 g/t Au. The high Au values are often accompanied by high Cu in the 0.1 to 0.6% range. The anomalous values are associated with high sulphide material in what appears to be gossanous skarnified sedimentary rocks (Figure 3).
Rock grab samples from the exploration areas of the Great Laxey showing and west of the Emma showings returned significant Cu values with up to 1.235% Cu and 8.44% Cu respectively. The area west of the Emma showings and old workings has also provided grab samples with high Au and Ag values including 4 samples with 2.13 g/t Au up to 17.55 g/t Au, 107 g/t Ag up to 205 g/t Ag and 0.98% Cu up to 8.44% Cu (Figures 1 and 2).
Sulphide mineralization at Great Laxey and west of the Emma historical workings is associated with skarnified sedimentary rocks and intrusions. The west Emma area may also show alteration patterns consistent with intermediate to high sulphidation epithermal mineralization.

Brian Testo, President and CEO of Grizzly Discoveries stated “We are excited with the new results to date from the new mineral claims and we are planning follow-up exploration including extensive soil and rock sampling programs along with ground geophysical surveys. Much of newly staked ground has seen little exploration and evaluation since the 1990’s. We also are looking forward to pursuing a number of high grade gold – silver – copper showings and historical mines with drilling in the New Year along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!“

Figure 1: Initial Gold Results Rock Sampling 2023 – New Mineral Claims.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/188469_adeba71f44d88bb7_002full.jpg

Figure 2: Initial Copper Results Rock Sampling 2023 – New Mineral Claims.

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Figure 3. Sulphide mineralization in disturbed outcrop and dump material Marshall Lake.

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As the Company awaits drilling permits from the BC Government, significant ground based prospecting and sampling programs have been executed at the newly staked Marshall Lake claims as well as at a number of other exploration target areas including Midway, Imperial, Sappho-West Lexington and Beaverdell areas (Figure 4). A total of more than 800 rock samples and 3,800 soil samples have been collected during the 2023 field season. Results will be announced as they are received and interpreted over the coming weeks.

Update on Drilling:

Drilling will initially be focused at the historical Midway Mine (Figure 4) but the intent is that eventually the Company will complete new drilling in 2024 at Midway, Imperial, Copper Mountain (Mable Jenny, Coronation and Prince of Wales targets), and potentially the Sappho areas, depending upon the timing of the receipt of drill permits, additional funding and weather permitting. We eagerly await drilling permits from the BC Ministry of Energy Mines and Petroleum Resources. The permit applications were submitted initially in January-February of this year and the Company is now awaiting final comments and any required conditions or changes resulting from the recently completed 30 day notification periods. Archaeological and biological surveys are being conducted where required.

Summary of 2023 Exploration at Greenwood:

An extensive rock and soil sampling program along with new geological mapping during 2023 has been conducted in preparation for drilling. The work has yielded two new showings identified near the historical Midway Mine including up 5.64 g/t Au from a showing 400 m to the north of the Midway Mine and a second showing along an apparent fault structure with 4.19 g/t Au 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 Au), silver or copper in soils have been identified across the Midway Mine Property with the results from follow up exploration in progress (See Company News Release Dated October 12, 2023). A summary of all the Midway results will be provided once all the results are received.

Figure 4: Grizzly active exploration target areas 2023.

To view an enhanced version of this graphic, please visit:
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To date, gold-silver-base metal mineralization appears to be related to veins and stockworks at contacts between altered ultramafic-carbonate rocks (listwanites) in contact with diorite intrusions in a complex structural setting, with the intersections of structures playing a key role in the localization of alteration.

At the historical Imperial Mine area, a total of 50 new rock grab and rock chip samples were collected from the Imperial showing area, with 6 samples returning greater than 1 (g/t) gold (Au) up to 12.1 g/t Au and 8 samples retuning greater than 40 g/t silver (Ag) up to 469 g/t Ag (Figure 4). The samples define a targeted north – south strike length of over 170 m for future drilling. The samples show significant amounts of lead (Pb), zinc (Zn) and Cu with several samples yielding greater than 2% combined base metals (See Company News Release Dated October 12, 2023). Geological mapping is in progress and ground geophysical surveys are planned prior to conducting drilling at this target.

The Copper Mountain area continues to yield excellent results from a number of showings including the Coronation and Prince of Wales historical mines along with the Mabel Jenny area (Figure 4). A total of 9 of 14 rock grab and chip samples collected this year from a new zone discovered late in 2022 has yielded greater than 1 g/t Au up to 13.75 g/t Au (along with up to 61.9 g/t Ag) and up to 0.475% Cu and 2.93% Zn (See Company News Release Dated October 12, 2023). The discovery was made along a new logging road cut late in 2022 and appears to demonstrate quartz vein stockwork mineralization in an altered diorite over a strike length of more than 400 m when combined with anomalous samples from 2022.

Geological and prospecting crews have concluded prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and have conducted an initial pass at the new mineral claim area staked August 1, 2023 (See Company News Release dated September 7, 2023). A number of existing showings and parts or extensions to known showings have been acquired with the staking of the new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine. Results from the initial sampling programs on these new claims will be released as they are received.

The geological and prospecting crew has made several discoveries of sulphide, quartz vein zones and skarn on the new claims (Figures 1 and 2). Sulphide showings associated with skarn at Marshall Lake hosted in Triassic Brooklyn Formation sedimentary rocks including limestone that has been intruded by diorite. The showings have been trenched and bulk sampled in the past (1960’s to 1970’s) yielding significant copper, silver and gold. Little to no modern exploration has been performed at the Marshall Lake target as well as a number of other showings in the Brooklyn sequence such as the Great Laxey.

The goal is to have a pipeline of high priority precious metal and battery metal targets that are all permitted and ready for a long 2024 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood – Republic region.

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 base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

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

Caution concerning forward-looking information

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188469

Junior Mining Precious Metals

Ridgeline Minerals Completes 2,000 Meter Drill Program at the Selena Project, Nevada

Post author By admin
Post date November 22, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 22, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (“Ridgeline” or the “Company“) is pleased to announce the completion of its 2023 diamond core drill program totaling 2,034 meters (“m”) at its Selena silver (“Ag”) – lead (“Pb”) – zinc (“Zn”) – gold (“Au”) carbonate replacement (“CRD”) exploration project in Nevada.

The program totaled five drill holes ranging from 125 m to 690 m depth and targeted shallow-oxide CRD mineralization in the Upper Chinchilla Zone as well as testing for the first time beneath Chinchilla for stacked mineralization at depth (Figure 1 & Table 1). Drill samples have been regularly submitted to the lab for analysis over the past six weeks with assay results expected to be released in December 2023.

Mike Harp, Ridgeline’s Vice President, Exploration commented, “This year’s program had two primary objectives, upgrade the known Upper Chinchilla Zone and test prospective carbonate host horizons at depth for new discoveries. Results so far have confirmed the high-grade nature of the Upper Chinchilla Zone, and we are encouraged by the level of alteration observed in new potential host horizons at depth. We look forward to updating shareholders as assays are received over the coming weeks.”

Summary of SE23-049 & SE23-050 (assays pending)

Drillhole SE23-049 intersected the Upper Chinchilla Zone horizon over a roughly 9 m thick interval at depths consistent with nearby drillhole SE21-024 (Figure 2).
- 2.7m of total core loss was encountered in the middle of the aforementioned 9 m interval which is interpreted as a collapse breccia zone or cave resulting in no core recovery.
Drilling beneath the upper zone intersected multiple stacked zones of CRD style alteration ranging from 1-5m thickness extending down to 665 meters downhole. (see core photo in Picture 1)

Picture 1: Core photos of CRD alteration and corresponding shortwave UV “BBQ Rock” at depth in SE23-049. Tracking of fugitive calcite is a proven vectoring technique and indicator of proximity to a CRD system

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_002full.jpg

Drillhole SE23-050 intersected the Upper Chinchilla Zone horizon over a roughly 25 m thick interval at depths consistent with nearby drillholes SE21-025 and SE22-045 (Picture 2 & Figure 2).
Drilling beneath the Upper Chinchilla Zone intersected intervals of CRD style alteration ranging from 1-3m thickness down to 400 meters downhole as well as UV fluorescing “BBQ Rock” (fugitive calcite) vein breccia intervals down to 600m depth. (see core photo in Picture 3)

Picture 2: Representative core and shortwave UV photo of the Upper Chinchilla Zone SE23-050. Note the lack of “BBQ Rock” fugitive calcite veins, which typically occur on the margins of the CRD system

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Picture 3: Core and Shortwave UV photo of “BBQ Rock” (fugitive calcite veins) at depth in SE23-050.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_004full.jpg

Previously Announced 2023 Drill Results

SE23-048: 0.9 m grading 720.3 g/t Ag, 12.0% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t Silver Equivalent “AgEq”) within 10.9 m grading 94.1 g/t Ag, 1.3% Pb, 0.7% Zn, 0.2 g/t Au (or 182.9 g/t AgEq) starting at 85.3m true vertical depth (“TVD”) (Figure 2)
- And: 0.6 m grading 3.6 g/t Ag, 2.4% Sb, 0.1 g/t Au starting at 240 m TVD
- And: 3.6 m grading 0.5 g/t Ag, 1.2% Sb, NA g/t Au starting at 247 m TVD
- See October 12, 2023 Press Release HERE
SE23-047: 4.6 m grading 55.2 g/t Ag, 1.2% Pb, 7.2% Zn, 0.2 g/t Au (or 421.1 g/t AgEq) and 2.8 m grading 205.8 g/t Ag, 1.4% Pb, 0.3% Zn, 1.4 g/t Au (or 386.1.1 g/t AgEq) within 60.7 m grading 69.8 g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq) starting at 93.8 m TVD (Figure 2)
- See October 12, 2023 Press Release HERE
SE23-046: 7.3 m grading 64.2 grams per tonne (“g/t”) Ag, 0.8% Pb, 2.9% Zn and 0.1 g/t Au (or 219.4 g/t AgEq”)
- Assays in SE23-046 are from the top of the Upper Chinchilla Zone prior to the hole being abandoned due to bad ground conditions in a mineralized breccia zone.
- See October 12, 2023 Press Release HERE

Silver Equivalent Calculation: Metal Prices ($20 Ag, $0.90 Pb, $1.25 Zn, 1800 Au, no recovery factor applied) Silver g/t + (Gold g/t * (Gold Price/ Silver Price)) + ((22.0462* Lead Price)/ ((1/31.1035) * (Ag Price)) * Lead %) + ((22.0462* Zinc Price)/ ((1/31.1035) * (Ag Price)) * Zinc %)

Table 1: Collar table of all 2023 drill holes

Drillhole ID	Azimuth	Dip	Total Depth (m)
SE23-046	266	-51	127.0
SE23-047	270	-49	200.0
SE23-048	269	-86	332.0
SE23-049	026	-63	689.0
SE23-050	010	-75	686.0

Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers (“km”) north of the town of Ely, NV. The Project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline’s shallow-oxide 2020 Ag-Au ± Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)

Figure 1: Plan view map showing locations of SE23-046 to SE23-050 as well as previous highlight drill results at the Chinchilla Zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_005full.jpg

Figure 2: Long-Section C-C’ showing 2023 drilling. Assays pending on SE23-049 and SE23-050

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_006full.jpg

QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are analysed by Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company’s Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company’s Vice President, Exploration, who is Ridgeline’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 204 km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
“Chad Peters”
President & CEO

Further Information:
Chad Peters, P.Geo.
President, CEO & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com

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

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words “potential”, “anticipate”, “meaningful”, “discovery”, “forecast”, “believe”, “estimate”, “expect”, “may”, “will”, “project”, “plan”, “historical”, “historic” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline’s public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188360

Precious Metals

World’s largest cryptocurrency exchange Binance to pay $4B, founder to plead guilty to breaking US law

Post author By admin
Post date November 21, 2023

Binance, the world’s largest cryptocurrency exchange, will pay more than $4 billion in a plea agreement with the U.S. government, FOX Business has confirmed.

Prosecutors said CEO Changpeng Zhao will plead guilty in Seattle federal court Tuesday to violating U.S. law in a settlement that resolves a years-long criminal investigation, the Wall Street Journal first reported.

Binance faces three criminal charges for violating U.S. anti-money laundering law, a conspiracy charge and violating the International Emergency Economic Powers Act, court records show.

Zhao, who founded Binance in 2017 and guided it to a dominant position in cryptocurrency markets, will step down from the company and plead guilty to causing a financial institution to violate the Bank Secrecy Act. He has agreed to pay a $50 million fine, which will be credited against sums paid to the Commodity Futures Trading Commission (CFTC), prosecutors said.

GOP HOPEFUL VIVEK RAMASWAMY OUTLINES CRYPTO PLAN

Changpeng Zhao, chief executive officer of Binance, speaks during an interview in Tokyo, Japan, on Thursday, Jan. 11, 2018. (Akio Kon/Bloomberg via Getty Images / Getty Images)

The plea agreement calls for Zhao’s resignation as CEO and bars him from any present or future involvement in operating or managing the cryptocurrency exchange.

Binance agreed to pay a $1.81 billion criminal fine within 15 months of sentencing. Prosecutors said the company also consented to a $2.51 billion order of forfeiture.

FORMER NYSE PRESIDENT IN TALKS TO REBOOT FTX EXCHANGE

The firm’s former chief compliance officer Samuel Lim will also be charged as part of the settlement, Reuters reported.

Changpeng Zhao, founder and chief executive officer of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 16, 2022. (REUTERS/Benoit Tessier/File Photo / Reuters Photos)

Attorney General Merrick Garland and Treasury Secretary Janet Yellen are scheduled to appear at a Justice Department press conference at 3 p.m. ET to announce “cryptocurrency enforcement actions.”

WINNER OF $1.35B MEGA MILLIONS JACKPOT SUING DAUGHTER’S MOTHER FOR ALLEGEDLY TELLING HIS FAMILY ABOUT THE WIN

The SEC in June filed a civil complaint against Binance and its founder, Zhao, accusing them of creating Binance.US as part of a “web of deception” to evade securities laws aimed at protecting U.S. investors. That same month, Binance.US laid off around 50 employees, a source told Reuters at the time.

DOJ prosecutors asked the company in December 2020 to provide internal records about its anti-money laundering efforts, along with communications involving Zhao, who founded the company in 2017.

The Binance Exchange website on a laptop computer arranged in Dobbs Ferry, New York, on Saturday, Feb. 20, 2021. (Getty / Getty Images)

The CFTC in March filed civil charges against Binance, alleging it failed to implement an effective anti-money laundering program to detect and prevent terrorist financing. Citing internal communications, CFTC alleged that Binance officers and employees acknowledged the platform had facilitated “potentially illegal activities.”

In February 2019, Binance’s former Chief Compliance Officer Lim received information on transactions by the militant Palestinian group Hamas on Binance, the CFTC wrote.

CLICK HERE TO READ MORE ON FOX BUSINESS

Binance has also seen a number of recent executive exits. Its global head of product, Mayur Kamat, resigned in September and its chief strategy officer, Patrick Hillmann, left in July.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The crypto giant and the industry at large have fallen under greater scrutiny from regulators after the collapse of Binance’s one-time chief rival, FTX, last November.

FOX Business’ Susan Li, Breck Dumas and Reuters contributed to this report.

Original Source: https://www.foxbusiness.com/markets/worlds-largest-cryptocurrency-exchange-binance-pay-4b-founder-plead-guilty-breaking-us-law

Precious Metals

World Platinum Investment Council | Quarterly Covering Q3 2023, An Updated Estimate For FY 2023 and a First Forecast for 2024

Post author By admin
Post date November 21, 2023

https://platinuminvestment.com/

Gold Shore Resources Junior Mining Precious Metals

Goldshore Closes Non-Brokered Private Placement of $3.75 Million

Post author By admin
Post date November 20, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 20, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce that it has closed its previously announced private placement (the “Private Placement“), for aggregate gross proceeds of $3.75 million. The Company issued the following securities:

(i) 37,500,000 units of the Company (“Units“) at a price of $0.10 per Unit. Each Unit consists of one common share (each, a “Common Share“) and one common share purchase warrant (each whole warrant, a “Warrant“); and

(ii) Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share“) at an exercise price of $0.13 per Warrant Share for the next thirty-six (36) months until November 17, 2026.

The net proceeds from the Private Placement will be used to continue to advance the Moss Gold Project through development of a new resource model and a new mineral resource estimation; in addition to continuing the engineering and metallurgical studies being done on various leach methodologies (including heap leach) and ultimately factoring this new information into a preliminary economic assessment, along with working capital and general corporate purposes.

In connection with the Private Placement, the Company paid a finder’s fee of 1,008,000 Units to Eventus Capital Corp. There were no cash finder’s fees paid in connection with the Private Placement.

The securities issued pursuant to the Private Placement, and any Common Shares issued on exercise of Warrants, are subject to a four-month and one day hold period under applicable securities laws in Canada and TSX Venture Exchange (“TSXV“) hold period, as applicable, expiring on March 18, 2024.

Certain directors and officers of the Company have participated in the Private Placement. Brett A. Richards, a director and officer of the Company, subscribed for 900,000 Units; Marlis Yassin, an officer of the Company, subscribed for 100,000 Units; Victor Cantore, a director of the Company, subscribed for 750,000 Units; Shawn Khunkhun, a director of the Company, subscribed indirectly for 250,000 Units; Joanna Pearson, a director of the Company, subscribed for 100,000 Units; and Peter Flindell, an officer of the Company, subscribed for 300,000 Units (collectively, the “Related Party Participation“). The Related Party Participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Pursuant to sections 5.5(a) and 5.7(1)(a), the Company is exempt from obtaining a formal valuation and minority approval of the Company’s shareholders in respect of the Related Party Participation due the fair market value of the Related Party Participation being below 25% of the Company’s market capitalization for the purposes of MI 61-101.

The Company will file a material change report in respect of closing of the Private Placement. However, the material change report will be filed less than 21 days prior to the closing of the Private Placement, which is consistent with market practice and the Company deems reasonable in the circumstances.

Issuance of RSUs

The Company has also issued 600,000 restricted share units (“RSUs“) to Kyle Hickey, a director of the Company. The RSUs will fully vest on November 17, 2024, one year from the date of grant. Once vested, each RSU represents the right to receive one Common Share, the equivalent cash value thereof, or a combination of the two, at the Company’s discretion. The issuance of RSUs have been made in accordance with the Company’s Omnibus Incentive Plan (the “Plan“) that was approved by the Company’s directors on November 8, 2022. The Plan remains subject to the approval of the shareholders of the Company at its next Annual General and Special Meeting. Any grants of share-based compensation made under the Plan prior to approval of the Plan by shareholders, including the aforementioned grant of the RSUs and the grant of RSUs noted below, will be subject to the approval of disinterested shareholders at the next Annual General and Special Meeting of the Company. The Company anticipates holding its next Annual General and Special Meeting of shareholders on January 23, 2024.

Early Warning Disclosure

The Company has been advised that following the: (i) acquisition as part of the Private Placement by Brian Paes-Braga (“Acquiror”) of 15,000,000 Units, issued for a price of $0.10 per Unit for total consideration paid by Acquiror of $1,500,000, and (ii) grant by the Company of 600,000 RSUs to Acquiror, the Acquiror has beneficial ownership, control or direction of 15,675,000 Common Shares representing 6.34% of the issued and outstanding Common Shares, and would have beneficial ownership, control or direction of 31,275,000 Common Shares representing 11.90% of the Common Shares on a partially diluted basis assuming the exercise of Warrants and settlement of RSUs. The Acquiror has beneficial ownership of 15,000,000 Warrants representing 17.73% of the issued and outstanding Warrants. The Acquiror has beneficial ownership of 600,000 RSUs representing 12.84% of the issued and outstanding RSUs. Prior to the Private Placement, the Acquiror had beneficial ownership, direction or control of 675,000 Common Shares, representing 0.27% of the issued and outstanding Common Shares. The Company has been advised that the Acquiror acquired these securities for investment purposes and their acquisition will be disclosed in an early warning report to be filed under the Company’s SEDAR+ profile. The Acquiror may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 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.

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.

About Goldshore

Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group, board of directors, and advisory board. Goldshore is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements” within the meaning of Canadian securities laws. 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, use of proceeds related to the Private Placement, filing of a material change report with respect to the Private Placement, shareholder meetings and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188017

Base Metals Junior Mining Precious Metals

Aya Gold & Silver Reports High-Grade Drill Exploration Results and Adds 4 Permits at Boumadine

Post author By admin
Post date November 20, 2023

MONTREAL, Nov. 20, 2023 /CNW/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.

The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers (“km²”).

Key Highlights¹

Definition of new high-grade mineralization from the infill drilling program:
- BOU-DD23-180 intersected 1,039 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 23.5 meters (“m”) (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
- BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.57 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
- BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
- BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
- BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
- BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.

“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”

__________________________________

¹ All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Figure 1: Location of New Boumadine Permits (CNW Group/Aya Gold & Silver Inc)

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)

2023 Exploration Results

To date, 159 diamond drill holes (“DDH”) for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).

Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).

Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.

Figure 3 – Longitudinal View of Boumadine Main Zone (CNW Group/Aya Gold & Silver Inc)

Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)

Next Steps

The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

Aya’s management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “confirm”, “potential”, “complete”, “expect” “extend”, “belief”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Boumadine and the advancement of and success of the exploration program at Boumadine , and timing for the release of the Company’s disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya’s 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

Appendix 1 – Full Drill Results from Boumadine (core lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-165	8125N	Para	280.1	282.1	4.69	84	2.0	0.3	0.1	0.3	47	589
BOU-DD23-165	8125N	Para	297.0	298.0	0.37	24	1.0	0.0	0.1	2.6	8	209
BOU-DD23-165	8125N	Para	333.0	333.5	0.26	42	0.5	0.0	1.3	4.1	7	327
BOU-DD23-165	8125N	Main	462.7	463.7	0.36	12	1.0	0.0	0.1	0.2	4	60
BOU-DD23-165	8125N	Para	546.2	546.9	0.60	25	0.7	0.0	0.5	0.6	4	127
BOU-DD23-166	8850N	Para	140.0	141.0	0.32	43	1.0	0.0	0.1	0.8	2	119
BOU-DD23-166	8850N	Para	141.7	142.5	0.09	48	0.8	0.0	0.3	0.6	9	99
BOU-DD23-167	8025N	NSR	0.0	163.4	0.00	0	163.4	0.0	0.0	0.0	0	0
BOU-DD23-168	8325N	Para	125.4	126.4	4.35	16	1.0	0.0	0.4	0.8	1	480
BOU-DD23-170	8025N	Para	67.3	68.9	0.36	23	1.6	0.0	0.2	0.3	85	84
BOU-DD23-170	8025N	Main	86.5	87.6	2.59	63	1.1	0.1	0.3	0.6	304	382
BOU-DD23-170	8025N	Para	124.3	126.5	0.48	4	2.2	0.0	0.1	0.5	8	84
BOU-DD23-172	8550N	Para	128.3	130.1	0.26	23	1.8	0.0	0.6	0.7	68	108
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-172	8550N	Para	244.8	245.6	1.29	41	0.8	0.0	0.2	0.4	3	194
BOU-DD23-173	8025N	Para	127.4	128.6	0.54	16	1.2	0.0	0.1	0.4	15	95
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
Including			209.3	214.1	2.67	32	4.8	0.1	0.2	2.0	8	407
BOU-DD23-174	8025N	Main	287.1	290.3	1.90	40	3.2	0.1	0.2	0.3	19	260
Including			288.1	289.3	4.04	80	1.2	0.3	0.3	0.3	27	530
BOU-DD23-174	8025N	Para	435.0	435.5	3.29	126	0.5	0.2	0.7	0.3	4	492
BOU-DD23-175	8025N	Para	108.1	108.8	0.28	21	0.7	0.1	0.5	2.4	12	205
BOU-DD23-175	8025N	Para	183.6	187.0	0.05	45	3.4	0.0	5.7	1.5	9	317
BOU-DD23-175	8025N	Main	269.3	270.3	0.16	16	1.0	0.0	1.5	2.1	22	195
BOU-DD23-176	8275N	Para	45.3	46.0	0.54	13	0.7	0.0	0.1	5.1	15	347
BOU-DD23-176	8275N	Para	49.5	50.6	0.47	8	1.1	0.0	0.1	0.3	6	73
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-177	8850N	Main	31.9	34.8	3.40	120	2.9	0.0	1.5	0.1	17	494
BOU-DD23-177	8850N	Para	43.0	44.0	0.76	29	1.0	0.0	0.7	0.7	24	160
BOU-DD23-178	8275N	Para	113.1	117.5	2.32	28	4.4	0.0	0.3	1.3	4	333
BOU-DD23-178	8275N	Para	132.1	132.8	0.39	40	0.7	0.0	1.6	2.2	2	251
BOU-DD23-178	8275N	Para	139.5	142.0	1.21	46	2.5	0.0	0.4	1.9	6	280
BOU-DD23-178	8275N	Para	151.8	152.7	0.76	12	0.9	0.0	0.2	0.3	2	107
BOU-DD23-178	8275N	Para	156.1	158.3	2.66	59	2.2	0.2	0.1	0.2	5	348
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Para	22.4	22.9	0.66	64	0.5	0.0	1.5	5.3	75	467
BOU-DD23-179	8225N	Para	24.5	25.0	0.73	33	0.5	0.1	0.5	2.8	16	271
BOU-DD23-179	8225N	Para	38.0	38.6	0.39	12	0.6	0.0	0.1	1.0	8	110
BOU-DD23-179	8225N	Para	44.0	47.4	1.17	28	3.4	0.0	0.1	1.1	17	203
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	104.7	105.6	0.40	24	0.9	0.0	0.9	2.3	1	217
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
Including			129.4	133.5	2.18	31	4.1	0.1	0.3	3.4	28	440
BOU-DD23-180	8375N	Para	144.6	148.2	0.69	18	3.6	0.0	0.3	0.8	5	141
BOU-DD23-180	8375N	Para	155.6	156.4	0.59	24	0.8	0.0	0.3	2.2	107	217
BOU-DD23-180	8375N	Para	157.3	157.9	0.49	12	0.6	0.0	0.2	1.8	11	161
BOU-DD23-180	8375N	Para	159.8	160.3	2.62	67	0.5	0.1	0.5	3.7	7	538
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-180	8375N	Para	296.0	297.0	0.64	8	1.0	0.0	0.0	0.1	11	73
BOU-DD23-180	8375N	Para	301.0	302.0	0.42	12	1.0	0.0	0.3	0.5	6	88
BOU-DD23-181	8025N	Main	345.1	345.9	0.99	48	0.8	0.1	2.4	2.6	3	376
BOU-DD23-181	8025N	Para	357.2	358.3	0.34	59	1.1	0.2	6.1	7.5	3	717
BOU-DD23-181	8025N	Para	480.2	480.7	0.35	33	0.5	0.0	1.3	0.9	34	159
BOU-DD23-181	8025N	Para	537.1	538.3	0.03	136	1.2	0.0	0.4	0.2	8	163
BOU-DD23-182	8275N	Para	145.3	145.9	0.74	24	0.6	0.0	0.9	1.4	45	202
BOU-DD23-182	8275N	Para	177.9	181.0	0.50	30	3.1	0.0	1.0	2.4	12	243
BOU-DD23-182	8275N	Main	189.2	192.0	0.82	23	2.8	0.1	2.0	1.2	31	248
BOU-DD23-182	8275N	Para	196.2	199.2	0.67	17	3.0	0.0	0.8	1.6	7	198
BOU-DD23-182	8275N	Para	201.2	205.4	0.43	16	4.2	0.0	0.6	2.1	4	190
BOU-DD23-183	8025N	Para	105.8	107.0	1.02	48	1.2	0.1	0.0	0.0	3	160
BOU-DD23-183	8025N	Para	287.7	288.7	0.64	7	1.0	0.0	0.3	0.1	6	85
BOU-DD23-183	8025N	Para	364.9	366.2	0.38	16	1.3	0.1	0.1	0.2	7	75
BOU-DD23-183	8025N	Main	507.6	514.0	0.80	23	6.4	0.0	0.4	0.6	10	146
Including			508.2	510.0	1.85	20	1.8	0.1	0.3	0.6	10	244
BOU-DD23-184	8225N	Para	59.7	60.2	0.52	33	0.5	0.0	0.6	4.6	40	358
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-184	8225N	Para	135.9	136.9	0.36	12	1.0	0.0	0.3	5.7	9	369
BOU-DD23-185	8375N	Para	143.4	145.4	0.56	24	2.0	0.0	0.5	1.0	11	148
BOU-DD23-185	8375N	Para	175.6	176.5	4.97	252	0.9	0.4	2.7	8.5	16	1314
BOU-DD23-185	8375N	Main	204.6	210.9	0.16	1	6.3	0.0	0.0	0.1	11	26
BOU-DD23-185	8375N	Para	244.3	244.8	0.14	46	0.5	0.0	1.1	1.6	11	182
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Para	62.4	62.9	0.25	102	0.5	0.0	1.1	2.2	9	285
BOU-DD23-187	8225N	Para	157.4	157.9	0.97	77	0.5	0.0	1.8	2.8	20	378
BOU-DD23-187	8225N	Para	165.2	167.2	0.23	29	2.0	0.0	0.3	0.8	6	104
BOU-DD23-187	8225N	Para	168.2	169.1	0.24	34	0.9	0.0	2.0	1.6	12	206
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
Including			188.9	192.3	2.19	44	3.4	0.1	0.2	3.6	61	462
BOU-DD23-187	8225N	Para	195.4	196.5	0.44	16	1.1	0.0	0.3	1.4	6	146
BOU-DD23-188	8275N	Para	9.0	10.0	0.03	56	1.0	0.0	9.8	0.7	9	407
BOU-DD23-188	8275N	Para	104.3	105.0	0.14	40	0.7	0.0	0.2	0.7	4	103
BOU-DD23-188	8275N	Para	179.2	180.2	0.32	36	1.0	0.0	0.4	1.6	9	168
BOU-DD23-188	8275N	Para	185.5	186.0	7.80	162	0.5	0.3	0.3	0.7	117	978
BOU-DD23-188	8275N	Para	190.9	191.4	0.47	41	0.5	0.0	1.0	3.1	8	289
BOU-DD23-188	8275N	Para	194.7	195.3	0.42	44	0.6	0.1	0.8	2.1	7	231
BOU-DD23-188	8275N	Main	216.8	218.8	1.37	26	2.0	0.0	0.3	0.3	5	188
BOU-DD23-188	8275N	Para	238.9	239.4	0.38	50	0.5	0.0	0.9	2.2	2	237
BOU-DD23-188	8275N	Para	280.6	283.4	0.39	36	2.8	0.0	0.2	1.2	27	149
BOU-DD23-189	8175N	Para	77.5	78.4	0.37	36	0.9	0.1	0.8	2.7	13	251
BOU-DD23-189	8175N	Para	89.3	90.4	0.38	24	1.1	0.0	0.3	0.7	6	110
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	100.2	101.2	0.35	20	1.0	0.0	0.0	0.1	12	61
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-190	8375N	Para	26.7	27.6	0.18	42	0.9	0.0	1.5	2.8	26	259
BOU-DD23-190	8375N	Main	249.1	250.9	0.14	79	1.8	0.0	0.7	1.2	56	183
BOU-DD23-191	8175N	Para	122.8	123.5	0.22	37	0.7	0.0	0.3	5.1	1	343
BOU-DD23-191	8175N	Para	140.9	142.0	1.08	12	1.1	0.0	0.2	0.6	1	154
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-192	8225N	Para	11.4	13.8	0.22	54	2.4	0.0	0.1	0.2	1	91
BOU-DD23-192	8225N	Para	127.2	127.7	0.64	63	0.5	0.0	1.3	3.2	4	343
BOU-DD23-192	8225N	Main	226.1	230.8	1.75	41	4.7	0.1	0.2	0.4	19	241
Including			228.1	230.8	2.31	58	2.7	0.1	0.3	0.5	12	323
BOU-DD23-192	8225N	Para	338.2	339.3	14.62	1	1.1	0.0	0.0	0.0	9	1371
BOU-DD23-194	8275N	Para	76.5	77.2	2.91	632	0.7	0.1	1.2	2.0	4	1063
BOU-DD23-194	8275N	Para	200.7	201.7	9.14	84	1.0	0.4	0.2	0.4	31	1024
BOU-DD23-194	8275N	Main	240.3	240.9	0.30	35	0.6	0.2	1.2	7.1	35	513
BOU-DD23-194	8275N	Para	277.6	278.7	0.41	19	1.1	0.0	1.2	1.5	20	179
BOU-DD23-195	8175N	Para	80.4	81.3	0.41	40	0.9	0.0	0.2	0.4	1	110
BOU-DD23-195	8175N	Para	84.6	85.4	0.51	36	0.8	0.0	1.2	2.3	4	245
BOU-DD23-195	8175N	Para	175.0	175.9	0.17	40	0.9	0.0	0.9	2.6	5	227
BOU-DD23-195	8175N	Main	185.0	185.5	0.75	44	0.5	0.0	1.5	3.9	1	376
BOU-DD23-195	8175N	Para	213.7	214.6	0.57	32	0.9	0.0	0.7	1.2	7	176
BOU-DD23-196	8225N	Para	15.3	16.3	0.56	16	1.0	0.0	0.1	0.2	19	82
BOU-DD23-196	8225N	Para	37.7	38.8	0.03	52	1.1	0.0	0.3	1.1	6	128
BOU-DD23-196	8225N	Para	85.6	86.4	4.83	112	0.8	0.0	0.4	0.7	1	614
BOU-DD23-196	8225N	Para	168.3	168.8	0.61	32	0.5	0.0	0.2	5.3	24	386
BOU-DD23-196	8225N	Para	215.2	216.4	1.75	19	1.2	0.1	2.6	1.4	25	351
BOU-DD23-196	8225N	Main	253.7	254.5	0.57	43	0.8	0.0	0.3	3.2	35	282
BOU-DD23-196	8225N	Para	407.9	408.5	0.52	79	0.6	0.0	0.2	1.6	5	224
BOU-DD23-198	8675N	Para	44.5	45.0	1.85	118	0.5	0.0	1.2	2.7	1	477
BOU-DD23-198	8675N	Para	71.0	73.1	1.66	41	2.1	0.0	1.0	2.9	44	392
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-198	8675N	Para	271.3	273.4	1.85	16	2.1	0.0	1.5	0.3	8	255
BOU-DD23-198	8675N	Para	310.3	311.6	1.67	139	1.3	0.0	1.0	0.3	28	345
BOU-DD23-198	8675N	Main	323.3	326.0	1.50	58	2.7	0.0	0.2	0.2	29	216
BOU-DD23-198	8675N	Para	370.2	371.2	0.22	40	1.0	0.0	0.2	0.3	2	85
BOU-DD23-198	8675N	Para	374.4	375.4	0.45	20	1.0	0.0	0.1	0.1	5	72
BOU-DD23-198	8675N	Para	378.6	381.1	2.11	48	2.5	0.0	0.9	2.5	83	415
BOU-DD23-200	8175N	Para	135.5	136.3	1.87	25	0.8	0.0	0.1	0.2	4	214
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
Including			244.3	246.3	5.37	124	2.0	0.5	0.1	0.6	18	736
BOU-DD23-200	8175N	Para	258.0	259.0	0.67	24	1.0	0.0	0.5	3.1	11	275
BOU-DD23-200	8175N	Para	295.2	295.7	0.63	55	0.5	0.0	0.3	4.1	53	349
BOU-DD23-201	8225N	Para	94.7	95.4	0.12	47	0.7	0.0	0.4	0.8	4	116
BOU-DD23-201	8225N	Para	209.1	210.0	0.49	28	0.9	0.0	1.4	1.5	5	201
BOU-DD23-201	8225N	Para	231.7	232.4	0.42	20	0.7	0.0	0.5	1.2	9	142
BOU-DD23-201	8225N	Para	242.4	246.6	2.59	39	4.2	0.1	0.2	0.7	9	341
Including			242.4	244.0	5.06	77	1.6	0.3	0.3	0.3	8	613
BOU-DD23-201	8225N	Main	315.0	316.0	0.30	32	1.0	0.1	0.8	4.7	19	357
BOU-DD23-202	8675N	Para	95.5	96.7	1.06	48	1.2	0.0	0.5	2.2	15	286
BOU-DD23-202	8675N	Para	104.9	105.4	1.59	110	0.5	0.0	3.0	7.9	5	786
BOU-DD23-202	8675N	Para	223.1	226.0	3.61	67	2.9	0.1	0.3	2.8	18	583
BOU-DD23-202	8675N	Para	227.8	229.2	0.58	11	1.4	0.0	0.1	0.3	19	85
BOU-DD23-202	8675N	Para	239.0	239.5	2.48	42	0.5	0.1	0.5	11.3	37	909
BOU-DD23-202	8675N	Para	242.6	243.2	0.72	24	0.6	0.0	0.6	2.3	21	238
BOU-DD23-202	8675N	Para	250.8	251.3	0.43	36	0.5	0.0	1.1	3.5	3	308
BOU-DD23-202	8675N	Para	266.6	267.4	0.22	35	0.8	0.0	2.8	2.4	15	277
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522
BOU-DD23-202	8675N	Para	418.8	422.2	1.56	39	3.4	0.0	0.5	0.7	2	240
BOU-DD23-203	8175N	Para	100.1	101.8	0.23	59	1.7	0.0	0.9	1.5	3	191
BOU-DD23-203	8175N	Para	207.4	207.9	0.46	91	0.5	0.1	1.9	4.3	6	435
BOU-DD23-203	8175N	Para	269.5	270.0	1.06	41	0.5	0.0	0.9	2.4	4	300
BOU-DD23-203	8175N	Para	280.7	281.7	0.32	20	1.0	0.0	0.4	0.5	9	92
BOU-DD23-203	8175N	Main	282.7	285.9	2.00	55	3.2	0.1	0.1	0.2	12	269
BOU-DD23-203	8175N	Para	289.5	290.6	0.42	12	1.1	0.0	0.3	1.2	10	124
BOU-DD23-203	8175N	Para	332.2	332.7	0.41	20	0.5	0.0	0.3	4.7	9	324
BOU-DD23-203	8175N	Para	373.2	374.3	0.03	89	1.1	0.2	0.8	1.2	7	201

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

DDH No.	Easting	Northing	Elevation	Azimuth	Dip	Length (m)
BOU-DD23-213	316 991	3 474 849	1 257	70	-50	600.0
BOU-DD23-214	317 026	3 477 177	1 216	250	-50	447.1
BOU-DD23-215	316 714	3 477 378	1 220	250	-50	330.1
BOU-DD23-216	317 077	3 474 268	1 258	70	-50	705.0
BOU-DD23-217	316 754	3 477 393	1 218	250	-50	363.8
BOU-DD23-218	317 101	3 477 207	1 208	250	-50	483.5
BOU-DD23-219	316 868	3 477 434	1 214	250	-50	465.4
BOU-DD23-220	317 079	3 474 775	1 274	70	-50	144.5
BOU-DD23-221	317 010	3 474 750	1 263	70	-50	369.0
BOU-DD23-222	316 483	3 477 496	1 222	250	-50	171.1
BOU-DD23-223	317 170	3 474 754	1 294	70	-50	299.4
BOU-DD23-224	317 234	3 474 537	1 283	70	-50	302.0
BOU-DD23-225	316 552	3 477 523	1 214	250	-50	206.0
BOU-DD23-226	316 626	3 477 547	1 211	250	-50	350.2
BOU-DD23-227	316 714	3 477 576	1 214	250	-50	356.1
BOU-DD23-228	317 161	3 474 514	1 273	70	-50	419.5
BOU-DD23-229	317 103	3 474 730	1 280	70	-50	332.3
BOU-DD23-230	317 046	3 474 763	1 270	70	-50	261.0
BOU-DD23-232	317 456	3 476 254	1 211	250	-50	532.1
BOU-DD23-233	317 067	3 474 717	1 274	70	-50	76.5
BOU-DD23-234	316 976	3 474 737	1 259	70	-50	501.0
BOU-DD23-235	317 036	3 474 706	1 266	70	-50	500.7
BOU-DD23-236	317 088	3 474 487	1 268	70	-50	606.2
BOU-DD23-237	317 378	3 476 226	1 209	250	-50	600.5
BOU-DD23-238	317 298	3 476 197	1 218	250	-50	510.0
BOU-DD23-239	316 937	3 474 723	1 258	70	-50	486.7
BOU-DD23-240	317 001	3 474 693	1 260	70	-50	466.4
BOU-DD23-242	317 227	3 476 171	1 228	250	-50	384.8
BOU-DD23-244	317 147	3 474 666	1 278	70	-50	236.6

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SOURCE Aya Gold & Silver Inc

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

Analyst Predict EMX Royalty has a lot of upside for shareholders

Post author By admin
Post date November 17, 2023

A respected analyst report has recently commented on the value proposition of EMX Royalty. The decision seems to have merit based on this week’s recent news announcement on the 3rd Quarter Results for 2023. A projected 12-month price point of C$5.75 was the target by the analyst. At the present EMX Royalty is trading at C$2.22. We highly regard EMX Royalty, we’ve been long-term shareholders since 2016/17. In our opinion EMX Royalty is a legacy company that you buy and pass along to your children. It’s the Goose that keeps laying the Golden Egg.

Highlights from Q3 2023 include the following:

EMX earned approximately $1,955,000 in royalty revenue from the Gediktepe Mine as production continued from the oxide gold deposit. Partner Lidya Madencilik Anayi ve Ticaret A.S. (“Lidya”) also notified EMX that it has completed an internal Feasibility Study for development of the underlying polymetallic sulfide deposit. A decision regarding financing and construction for the sulfide project is pending.
The Caserones (effective) royalty distribution for Q3 totaled approximately $1,741,000. Lundin Mining Corporation (“Lundin”), in connection with their acquisition of fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile SpA (see Lundin news release dated July 13, 2023), filed a technical report on SEDAR titled “NI 43-101 Technical Report on the Caserones Mining Operation, Atacama Region, Chile” that included current mineral resource and reserve estimates. Lundin also provided Caserones H1 production and H2 production guidance.
Leeville revenue earned by EMX totaled approximately $773,000 from royalty production that totaled 403 ounces of gold. Q3 2023 marked another strong quarter of Leeville royalty production along with robust gold prices.
EMX recognized $568,000 in royalty revenue from the Balya property in Q3 2023 which included $212,000 from Q2 production and $356,000 from Q3 production subsequently received. Production began to ramp up again in Q2 2023 with 99,185 tonnes of mineralized material produced from Balya North. Production continued to accelerate in Q3 2023, with 161,133 tonnes of mineralized material produced according to calculations provided by Esan at the end of Q3.
EMX received $134,000 from Gold Bar South for royalty revenue earned in Q1 2023 and Q2 2023, and earned royalty revenue of $59,000 from Q3 2023 production, which was subsequently received.
AbraSilver Resource Corp. (“AbraSilver”) reported final results from the Phase III drill program at the Diablillos silver-gold royalty property. Phase III drill holes will be incorporated into an updated mineral resource estimate to be included in the Diablillos PFS scheduled for completion in H2 of 2023. As part of its ongoing PFS work, AbraSilver also reported on positive results from metallurgical optimization test work conducted for the Oculto deposit.
Arizona Sonoran Copper continued to report infill drilling results from the Parks-Sayler porphyry copper royalty property. Subsequent to quarter-end, Arizona Sonoran announced updated mineral resource estimates for the Parks-Sayler deposit, which is partially covered by an EMX royalty, as well as other deposits that constitute its Cactus Project.
Exploration drilling by South32 at the Hermosa Project’s Peake prospect returned mineralized intercepts covered by EMX’s Hardshell royalty property that included the best copper intercept to date of 139 meters averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver (true width not reported).
EMX’s U.S. royalty generation portfolio progressed with 13 partner-funded work programs consisting of five drill programs, the expansion of properties through the staking of new claims, and the permitting of key projects in preparation for three additional drill programs to be conducted in Q4 2023 and early 2024. EMX has 39 projects in partnership in the western U.S and received various option, AAR, and management fee payments during the quarter.
Scout Discoveries Corp. (“Scout”) (a private Idaho company) and EMX closed on an amended transaction, originally announced in Q1 2023 (see EMX news release dated March 8, 2023) for the sale of EMX’s Erickson Ridge, South Orogrande, Lehman Butte, and Jackknife precious and base metal projects to Scout.
In Canada, EMX executed two new agreements to partner the Jean Lake property to Canada Nickel Company, and the Ear Falls property to Beyond Lithium. EMX and its partners conducted summer field programs to continue advancing the properties in the portfolio. EMX received $104,000 in cash payments during the quarter from partnered projects.
In Chile, Pampa Metals announced assay results from its initial three hole drill program totaling 1,957 meters at the Buena Vista target on the Block 4 property. Anomalous copper, molybdenum and precious metals were intercepted, indicative of shallow levels of a porphyry system. Elsewhere within the portfolio, EMX was notified by Pampa Metals that it was abandoning the Arrieros, Redondo-Veronica, Cerro Blanco, Cerro Buena Aries, and Block 3 properties, resulting in EMX gaining 100% control of each property. These properties are now available for partnership.
In Northern Europe the Company continued to develop and advance its portfolio of projects, with summer field programs continuing on numerous properties in Q3 2023. EMX has 37 projects in partnership with other companies in Northern Europe. New partnerships were established for the Bamble and Flåt battery metals projects in Norway (Londo Nickel plc) and the Njuggträskliden and Mjövattnet battery metals projects in Sweden (Kendrick Resources plc).
The Company optioned the Copperhole Creek project in Queensland, Australia to Lumira Energy LTD, a private Australian company. The agreement provides EMX with a 2.5% NSR royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with the transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) by mid-year 2024.
Also in Q3 2023 in Australia, partner companies executed drill programs comprising over 5,000 meters on three EMX royalty properties (Yarrol, Mt Steadman and Koonenberry) and field programs continued to advance the Queensland Gold and Copperhole Creek projects.
Royalty generation programs continued in the Balkans and in Morocco in Q3 2023, where multiple exploration license applications have been filed by the Company. Surface sampling programs commenced on several new exploration licenses awarded to EMX in Morocco targeting a variety of styles of mineralization. EMX also continued to assess projects and opportunities in the Balkans.

Investment Updates

As at September 30, 2023, the Company had marketable securities of $6,830,000 (December 31, 2022 – $9,966,000), and $5,313,000 (December 31, 2022 – $4,591,000) in private investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate.

OUTLOOK

The 2023 year will continue to see revenue and other income coming from our cash flowing royalties, including Leeville and Gold Bar South in Nevada, Gediktepe and Balya in Turkey, and Timok in Serbia, and our effective royalty interest on Caserones in Chile. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets, and the ongoing monetization of the Company’s marketable securities.

EMX is well positioned to identify and pursue new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

Marketing Consulting Services

The Company is also pleased to announce that it has entered into an agreement with LFG Equities Corp. (“LFG”), an independent contractor with a business address at 402-9140 Leslie St., Richmond Hill, ON, L4B 0A9. Commencing on September 10^th, 2023 for an initial term of six months, under the terms of the Agreement, LFG will provide marketing consulting services to the Company to communicate to the financial community information about EMX by way of newsletters and be paid US$50,000 plus applicable taxes.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

About EMX. EMX is a precious, base and battery 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”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, 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.

¹Adjusted revenue and other income and adjusted cash provided by operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 24 of the Q3-2023 MD&A for more information on each non-IFRS financial measure.

Be sure to perform your due diligence, we are biased.

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Analyst Predict EMX Royalty has a lot of upside for shareholders

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