Category: Precious Metals

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Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Announces New Strategic Partner and Non-Brokered Private Placement of $3.75 Million to Fully Fund Development Through 2025

Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce a non-brokered private placement (the “Private Placement“), for aggregate gross proceeds of $3,750,000. In connection with Private Placement, the Company will issue the following securities (the “Offered 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 thirty-six (36) months from the date of closing.

Fully Funded Through 2025

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 (“MRE“); 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 (“PEA“). With 80,000 meters of drilling completed and $48 million spent directly in the ground defining the current MRE; Goldshore is well positioned to achieve meaningful project milestones over the next 24 months with minimal cash expenditures and within the net proceeds and current cash balances of the Company.

Strategic Partnership

The Company announces that it has engaged with a strategic natural resources private capital group (the “Strategic Advisor“) participating, in aggregate, in the Private Placement for $3,000,000 or 30,000,000 Units, with a long-term financial commitment to unlocking the value of the Moss Gold Project and delivering increased return to all stakeholders.

Board Changes

The Company also announces that Michael Michaud has stepped down from the Board as an appointee of Wesdome Gold Mines Ltd. (“Wesdome“). Wesdome has advised that it does not intend to nominate a replacement at this time. Kyle Hickey will be appointed to the Goldshore Board of Directors upon closing of the Private Placement. Mr. Hickey has been a professional advisor to boards of directors, executive management teams, and private and public capital on a wide range of capital structure solutions including equity, debt, and hybrid financial instruments, as well as merger and acquisition transactions.

President and CEO Brett Richards stated: “We welcome this partnership with our new strategic shareholders, who are committed to advancing the project through its next stages of development. On behalf of the Goldshore directors, we would like to thank Mike for his tenure on the Board, as his technical and commercial approach has helped guide the Company since inception. We would also like to welcome Kyle to the Goldshore board. Kyle has extensive experience in the commodity and resource capital markets, financing assets through all stages of development from resource definition to construction and project finance, and long-term operating capital structures. This financing and partnership represents a new phase for Goldshore and is key to unlocking long-term value and driving success.”

PEA and Resource Update

As a result of the new financial and strategic commitment in Goldshore, the Company is reviewing the current PEA in an effort to rescope and optimize the Moss Gold Project under multiple operational and economic parameters. To that end, the Company has engaged APEX Geoscience to prepare a new resource model and a new MRE. The Company has also engaged the expertise of Kappes Cassiday & Associates, leaders in heap leach engineering and technology, to conduct detailed metallurgical test work to determine the efficacy of heap leaching the lower grade material contained in the Moss Gold deposit. Once the results from these activities are received, the Company will determine its next course of development.

Vice President, Exploration, Pete Flindell: “We welcome our new strategic partners, as this commitment allows us to recalibrate the scope of the future project we want to take to feasibility study. We have a significant portion of high-grade mineralization in the shear zones (3.35M oz Au or 55% of the current mineral resource) with an average head grade of 1.84 g/t Au. This creates the opportunity for a hybrid process with a small flotation, regrind and carbon in leach plant for the high-grade mineralization, and a large heap leach operation for the low-grade material.”

Additional Financing Details

Eventus Capital Corp. has been appointed as a finder in connection with the Private Placement. The Company may pay a finder’s fee of 6% in either cash or in Units of the gross proceeds received by the Company from the Private Placement. The securities issued pursuant to the Private Placement will be subject to a four-month and one day hold period under applicable securities laws in Canada. Closing of the Financing is expected to occur on or about November 14, 2023 and is subject to approval by the TSX Venture Exchange.

Qualified Person

Mr. Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101, has approved the scientific and technical information contained in this news 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

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

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THE OFFERING IN QUESTION HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND THE SECURITIES SOLD IN SUCH OFFERING MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-Looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-Looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, the release of an updated mineral resource estimate and preliminary economic assessment, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

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

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/186095

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Potential Third Revenue Stream from Gold Processing

Burlington, Ontario–(Newsfile Corp. – November 1, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces a third potential revenue stream. This potential revenue stream flows from SBMI’s relationship with a lender announced earlier this year.

Earlier this year SBMI announced it had entered into an agreement with an arm’s length third party (the “Investor/Client”) for the amount of USD$350,000. This investment was structured as a loan having a five year term and a zero per cent interest rate. Following extensive due diligence of SBMI’s operations, the Investor/Client asked SBMI to work with it to advance other projects in which the Investor/Client is involved. The first two such projects under consideration were in Arizona and Colorado.

The Investor/Client and SBMI have entered into a verbal agreement whereby the Investor/Client will ship approximately 900 pounds of what it advises to be high grade gold concentrate to SBMI’s mill in Globe, Arizona from an Investor/Client mine in Colorado, to be processed through SBMI’s modular processing facility. SBMI expects to receive the material in early November, following which it intends to run the material through its system to determine recovery, develop a process flowsheet, and ultimately pour gold dore bars.

The design of SBMI’s 100% owned mill affords the flexibility to process many different types of material and optimize the resulting output with its state of the art gravity circuit. The Investor/Client has indicated the facility that produced the concentrate is not capable of processing the material to a purity desired by the Investor/Client. This concentrate may be well suited for SBMI’s circuit to yield a higher purity gold product than the other facility could provide.

Remuneration for this work being done for the Investor/Client will be determined after SBMI’s receipt of the material and initial evaluation.

The Investor/Client has advised it has a substantial stockpile of similar material to be processed by SBMI’s mill, assuming this test run is successful.

If this run is successful, processing material for the Investor/Client is a third potential near-term revenue stream for SBMI, with the other two being silver production out of the Buckeye Silver Mine and silver / gold production from the Washington Mine in Idaho. Production at Idaho will not commence until stable production is achieved in Arizona. The delivery of this material shows the Investor/Client strongly believes SBMI has the capacity and ability to provide the necessary services and achieve the Investor/Client’s desired results.

The Company will continue to update as this project moves forward.

SBMI is in discussions with other parties whereby SBMI will process third party material, and the Company will advise as such discussions progress.

At the Buckeye Mine, the team continues to drift in Zone1 towards what management believes is a volume of higher grade silver mineralization.

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/185886

Categories
Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver Announces $10M Strategic Investment by Hecla

Vancouver, British Columbia–(Newsfile Corp. – October 30, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that the Company has today entered into an agreement (“Subscription Agreement“) for a further strategic investment by Hecla Canada Ltd. (“Hecla“) whereby Hecla has agreed to subscribe for 15,384,616 common shares of the Company (“Common Shares“) at a price of $0.65 per Common Share for gross proceeds of $10 million (“Offering“). Upon completion of the Offering, Hecla will increase its shareholding in the Company to 15.7% from 10.6%, calculated on an undiluted basis.

Closing of the Offering is anticipated to occur on or about November 1, 2023. Closing of the Offering remains subject to customary closing conditions, including the approval of the TSX Venture Exchange (the “TSXV“).

Shawn Khunkhun, Chief Executive Officer of Dolly Varden Silver remarked, “Hecla’s support for Dolly Varden Silver’s high-grade Kitsault Valley Project in BC’s prolific Golden Triangle is validated with today’s financing news. Hecla is the world’s fastest growing established silver producer, the largest in the US and soon to be in Canada. We celebrate Hecla agreeing to increase their stake in Dolly from 10% to 15% and want to extend our gratitude for their financial and technical support of the Company and the project.”

In connection with the Offering, Dolly Varden has agreed with Hecla that the Company will not complete any further debt or equity financings for the remainder of 2023. Additionally, Dolly Varden has agreed that between January 1, 2024 and September 1, 2024, without the prior consent of Hecla, it will not complete any debt or equity financings other than equity financings for net proceeds to the Company of up to $15 million and provided that the issue price under such financing is greater than $0.65 per security. These restrictions do not capture customary exceptions such as the issuances of securities related to the Company’s equity based incentive compensation, the exercise of existing convertible securities and strategic transactions for non-cash consideration.

$6 million of the net proceeds from the Offering will be used for exploration expenditures, mineral resource expansion and related costs in the Kitsault Valley project, located in northwestern British Columbia, Canada, with the balanced to be used for working capital and G&A costs.

No bonuses, finder’s fee or commissions were paid in connection with the Offering. The Common Shares issued pursuant to the Offering will be subject to a four-month hold period from the closing of the Offering in addition to any other restrictions under applicable law.

Hecla is considered a related party of the Company under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of its ownership of more than 10% of the currently issued and outstanding Common Shares. As a result, the issuance of Common Shares to Hecla pursuant to the Offerings would be considered a related party transaction. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by Hecla does not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time. Further details will be provided in a material change report to be filed by the Company subsequent to the dissemination of this news release.

The Common Shares to be acquired by Hecla will be acquired for investment purposes by Hecla. Hecla does not have any present intention to acquire ownership of, or control over, additional securities of Dolly Varden. It is the intention of Hecla to evaluate its investment in Dolly Varden on a continuing basis and such holdings may be increased or decreased in the future.

On October 30, 2023, Hecla entered into the Subscription Agreement. The 15,384,616 Common Shares to be acquired by Hecla represent approximately 6.04% of the 254,681,283 Common Shares outstanding immediately prior to when the Subscription Agreement was entered into (calculated on an undiluted basis). Prior to entering into the Subscription Agreement, Hecla held 27,040,880 Common Shares representing 10.62% of the outstanding Common Shares. Hecla does not hold any securities convertible into Common Shares. After completion of the subscription, Hecla will hold 42,425,496 Common Shares, representing 15.71% of the then outstanding 270,065,899 Common Shares (calculated on an undiluted basis). The change in Hecla’s percentage ownership is therefore an increase of 5.09% on an undiluted basis.

Pursuant to the investor rights agreement between Fury Gold Mines Ltd. (“Fury“) and the Company dated February 25, 2022, Fury has waived its anti-dilution right in respect of the Offering.

About Dolly Varden Silver Corporation

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

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, the intended use of proceeds from the Offering, the intended release of drilling information, the anticipated closing of the Offering and other statements that are not historical facts. These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the receipt of approval of the Offering from the TSXV, use of proceeds of the Offering, the adequacy of the Company’s current financial position, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company on desirable and permitted terms, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information.

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 risk that the Company may not be able to complete the Offering on the terms described herein or at all; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance. The risk factors identified herein are not intended to represent a complete list of factors that could affect the Company. For additional information on risks and uncertainties, see the Company’s annual information form dated April 11, 2023 for the year ended December 31, 2022 and the Company’s base-shelf prospectus dated April 25, 2023, both available on SEDAR+ at www.sedarplus.ca.

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185561

Categories
Junior Mining Precious Metals

Check Out Emperor Metals – New Corporate Deck

ABOUT EMPEROR

Emperor Metals Inc. is a gold exploration company focused on proving and developing the substantial resource potential of the Duquesne West Gold project, located in Rouyn-Noranda, Québec, Canada. The project hosts a 727,000 oz Au historical resource.

A phase I, ~8,000m drill campaign is underway, which includes resource confirmation and exploration drilling, focusing on delineating and growing the resource towards development.

The company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value.

The flagship Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt and is a high-grade Archean Lode Gold Deposit.

The property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold in 4.17 million tonnes of material grading 5.42 g/t gold with an average thickness of 5.7 meters. The resource is distributed across eight zones, with the majority occurring in two zones, Fox and Liz. The resource is a greenstone-hosted mesothermal vein system, which occurs throughout the Abitibi gold belt.

Emperor Metals is part of the Metals Group.

Investor Relations

Alex Horsley
Director – Corporate Development
Mobile 778.323.3058
Email alexh@emperormetals.com

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces High Grade Silver Results from the Treasure Room, and a Financing

Burlington, Ontario–(Newsfile Corp. – October 25, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces:

  1. two sets of high grade assay results from the Treasure Room
  2. initial assay results from the targeted mineralized zone at the Buckeye Mine in Arizona (Zone1),
  3. a financing, and
  4. the re-pricing of warrants.

The Treasure Room is located roughly 310 feet from the portal, or roughly halfway to Zone1 along the vein structure. On March 1, 2022 SBMI reported assay results from grab samples from the Treasure Room as follows:

GRAB SAMPLES
SAMPLE I.DSilverSilver
[oz/ton][ppm]
114.0480.2
215.2521.4
312.2418.5
413.6466.5
513.8473.3
635.21207.4
7125.04287.5
820.2692.9
921.2727.2

Additional selected grab samples were recently taken from the Treasure Room area, whose assay results were 8.6, 90.3, 90.6, and 229.7 ounces per ton silver. Paper thin plates of native silver, analyzed with a hand held XRF, were also observed along certain fractures.

Historically mining was carried out in the Treasure Room, resulting in stopes and drifts. A third set of selected grab samples from various stopes in the Treasure Room were assayed on October 23, 2023 and returned as follows:

  1. from stope 25 – 74.0 Ozs./Ton silver
  2. from stope 32 – 11.6 Ozs./Ton silver
  3. from stope 33 – 212.2 Ozs./Ton silver
  4. from stope 34 – 101.8 Ozs./Ton silver

Readers are cautioned that such samples may not be representative of the Treasure Room or the Buckeye Mine as a whole.

SBMI intends to stabilize the Treasure Room and provide other safety measures to allow access to the higher grade material located within the Treasure Room’s continuation of the vein. This will provide an additional supply of mineralized material for the mill and will also assist in refining a plan to mine that section of vein material. The Company believes the Treasure Room likely hosts more higher grade material at depth.

Zone1 begins roughly 700 feet from the portal. Twelve samples were assayed from the body of Zone1, with assay results from these preliminary samples averaging 2 oz per ton silver. Earlier assay results from the contact right edge with Zone1 over an initial width of 4 feet averaged 1 oz silver/t. Both of these averages are in line with management’s expectations. From past observations and past assays, the Company anticipates the silver grade to increase with further penetration into Zone1. Mineralized material will be shipped from Zone1 to the Company’s mill in Globe, Arizona when the grade is high enough to justify the cost of transportation.

Historically gold and copper values were also reported in Zone1. Current visual inspection of the vein material shows materials other than silver, for which SBMI cannot assay at its own onsite assay facility. SBMI has sent multiple samples of such material to an independent ISO 9001 certified lab for multielement analysis including gold and PGM.

The Company suffered through aberrant extremely hot weather in Arizona throughout most of August, 2023. For example, the temperature on the concrete ball mill pad during this period on occasion exceeded 150 degrees Fahrenheit. A wildfire proximate to the Buckeye Mine during that period caused by lightning further impeded SBMI’s efforts. The Company was unable to carry out work at the mill or at the Buckeye Mine during that period, and as a result was not able to generate cash flow. The Company now intends to bolster its financial position as it continues with operations.

SBMI intends to carry out a non-brokered financing (the “Financing”) of $500,000.00 by way of a private placement of units (each, a “Unit”) priced at $0.12 cents per Unit, resulting in the issuance of 4,166,666 shares. Each Unit will consist of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants.

The Company also announces its intention to re-price previously issued warrants. SBMI intends to re-price all previously issued $0.60 warrants to $0.24, all previously issued $.50 warrants to $0.20, and all previously issued $0.30 warrants to $0.13. Regulatory approval is required for the Financing and to re-price warrants.

The Financing and the re-pricing of warrants are subject to regulatory approval.

QA/QC

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.

The SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

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.

Categories
Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals Uncategorized

Metallic Minerals Completes 2023 Expansion Drill Program at Keno Silver Project in Yukon, Canada

VANCOUVER, BC / ACCESSWIRE / October 19, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce the completion of field activities at the Company’s 100%-owned, 166 square kilometer Keno Silver project, adjacent to Hecla Mining in the high-grade Keno Hill silver district of Canada’s Yukon Territory. The 2023 exploration program included 1,112 meters in four diamond drill holes focused on resource expansion at the Formo target, the highest-grade and largest target area to be included in an inaugural NI 43-101 mineral resource estimate for the property expected in Q4 2023. The Company also conducted additional soil geochemical sampling on open-ended earlier-stage targets for future drill campaigns.

Metallic Minerals holds the second largest land position in the Keno district with claims covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits. Hecla Mining holds the western portion of the Keno district and has recently started production from its Keno Hill mining operations, with full production expected by year-end.

Metallic Minerals President, Scott Petsel, stated: “We were very pleased to return to our Keno Silver project and complete this important new phase of exploration which focused on drilling mineralized extensions of our “resource-ready” target at Formo. With the key milestone of an inaugural resource estimate for Keno Silver on the near-term horizon, the team is already looking ahead to working from those initial deposit models to continue to add additional ounces with this and subsequent future programs. One of the major advantages the upcoming resources will have are their shallow depth which makes them amenable to low-cost bulk tonnage mining methods. The blueprint for rapid and dramatic resource growth in the Keno district, as demonstrated by prior operators, is to first identify the dominant mineralized vein structures and their orientations, then vector along trend and depth with successive drill campaigns. This tried-and-true methodology is being employed by Metallic Minerals to expand the Keno Silver project which is located within one of the world’s highest grade silver producing districts.”

Mr. Petsel continued, “In addition to our work at the Keno Silver project, drilling continues at our La Plata copper-silver-gold-PGE project in Colorado, where we have just passed 3,000 meters of a targeted 5,000-meter drill program. The first two drill holes reached 909 meters and 1,350 meters depth, respectively, and intersected continuous porphyry style mineralization. Our target is to complete two to three more step-out, expansion drill holes from the discovery hole announced in February 2023. Core is being processed and sent to the lab for assaying with initial results expected to come in through the fall of this year. The results of this drilling will be used to calculate a new mineral resource estimate for La Plata in 2024.”

About the Keno Silver Project

Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla Mining announced the acquisition of Alexco Resource Corp, which held the western portion of the district. Hecla Mining has started production at Keno Hill, which is now their highest-grade silver operation, and is expecting to be at full production by year end with a stated goal of producing 4-5 Moz of silver per year3. Metallic Minerals’ Keno Silver project is adjacent and contiguous with Hecla Mining ground, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced four targets in the district from discovery to resource definition stage with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company focused on copper, silver, gold, and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

The Company’s 100%-owned La Plata project in southwestern Colorado hosts a porphyry copper-silver resource consisting of 1.21 billion pounds of copper and 17.6 Moz of silver4. Drilling in 2022 provided the basis for the expanded 2023 resource estimate, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited (acquired by Newmont Mining in Q4 2023) to fund the current 2023 drill campaign and accelerate the overall advancement of the project. Colorado ranked 5th globally for investment attractiveness and 2nd in the USA in the Fraser Institute’s 2023 Annual Survey of Mining Companies.

Metallic Minerals has consolidated a 176 square kilometer land position directly adjacent to Hecla Mining’s operations in the historic high-grade Keno Hill silver district of Canada’s Yukon Territory, a region which has more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla Mining, the largest primary silver producer in the USA and third largest in the world, is anticipating full production at its Keno Hill operations by the end of 2023. Metallic Minerals is targeting release of an inaugural mineral resource estimate on the Keno Silver project in Q4 2023, with an expansion drill program completed in September.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the Discovery Channel television show, Gold Rush.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. The Company is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Email: cackerman@mmgsilver.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420
Footnotes:

  1. Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.
  2. Alexco Resource Corp Technical Report, titled “NI 43-101 Technical Report on Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District” with an effective date of April 1, 2021 and issue date of May 26, 2021.
  3. See news release dated August 8, 2023: Hecla Mining Company – Hecla Reports Second Quarter 2023 Results
  4. See news release dated July 31, 2023: https://mmgsilver.com/news/2023/metallic-minerals-expands-resource-at-la-plata-copper-silver-gold-pge-project-in-southwestern-colorado-usa/

Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.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.

SOURCE: Metallic Minerals Corp.

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Engages Matthews Investments Ltd

Edmonton, Alberta–(Newsfile Corp. – October 23, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that it has engaged Matthews Investments Ltd. to provide capital market consulting services to the Company.

The Company has entered into an agreement (the “Agreement”) with Matthews Investments Ltd. (“Matthews”) whereby Matthews will provide capital market consulting services to the Company for consideration including the issuance of 250,000 stock options under the Company’s Stock Option Plan with a strike price of $0.09 per option and expiring no later than five years from the date of issuance. In addition, Matthews will be compensated for a) any completed merger or acquisition transaction with a party introduced by Matthews within 2 years from the commencement of the Agreement and b) for any successful financing transaction with parties introduced to the Company by Matthews, at a rate of 5% of the total transaction value. The stock options to be granted to Matthews and transaction referral fees are subject to approval or acceptance by the TSX Venture Exchange.

Matthews Investments Ltd. is a consulting firm with a history of advising private and public companies through their growth initiatives. With a focus on extractable commodities and energy, Matthews engages its’ vast network of industry professionals to help companies establish an effective blueprint for corporate success.

Rich Matthews, principal of Matthews Investments Ltd., is a highly experienced capital markets advisor with a strong background in the resource sector, serving at the executive and board levels. His experience includes business development and capital markets expertise across multiple countries. Rich has worked for public companies, including award-winning Fission Uranium Corp, advising CEO’s and Board of Director members, while liaising directly with investors and stakeholders. Mr. Matthews is currently Director of Matthews Investments Ltd, Vancouver, BC, and Managing Partner at Integrous Communications LLC, Austin, Texas.

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 72,000 ha (approximately 178,500 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

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.sedarplus.ca. 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/184814

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Reports High-Grade Gold Results from Zone 2 at Tuvatu

North Vancouver, British Columbia–(Newsfile Corp. – October 19, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for infill and grade control drilling completed in the Zone 2 area of Tuvatu, focusing primarily on the Murau lode system. Mining of the Murau lode system has commenced and grade control drilling is being conducted in advance of further mining in this area. Infill drilling is being conducted to target the up-dip and down-dip extensions of the Murau lodes. The results reported here represent material that is scheduled to be mined in Q4 2023 and throughout 2024.

Lion One Chairman and CEO Walter Berukoff commented: “After celebrating our first gold pour at Tuvatu on October 10th, we now turn our focus back to grade control and infill drilling. These drill programs continue to yield positive results and to strengthen our understanding of the mineralization at Tuvatu. We are pleased to present yet another batch of high-grade results from the Zone 2 area of Tuvatu, an area which will serve to feed our brand-new mill in the mid-to-near term future.”

Highlights of Zone 2 drilling (3.0 g/t cutoff):

  • 84.96 g/t Au over 1.2 m (TGC-0092, from 4.5 m depth)
  • 20.69 g/t Au over 4.2 m (including 40.22 g/t Au over 0.9 m) (TUDDH-677, from 76.5 m depth)
  • 13.60 g/t Au over 5.1 m (including 98.87 g/t Au over 0.3 m) TUDDH-663, from 89.1 m depth)
  • 13.22 g/t Au over 5.1 m (including 50.54 g/t Au over 0.3 m) (TGC-0085, from 56.5 m depth)
  • 15.64 g/t Au over 3.9 m (including 23.48 g/t Au over 1.2 m) (TUDDH-680, from 140.9 m depth)
  • 38.26 g/t Au over 1.5 m (including 41.99 g/t Au over 0.6 m) (TUDDH-663, from 177.3 m depth)
  • 34.77 g/t Au over 0.9 m (including 35.67 g/t Au over 0.3 m) (TUDDH-680, from 146.6 m depth)
  • 31.25 g/t Au over 1.2 m (TUDDH-680, from 148.7 m depth)
  • 15.12 g/t Au over 2.1 m (including 22.42 g/t Au over 1.2 m) (TUDDH-678, from 135.3 m depth)
  • 13.61 g/t Au over 2.1 m (including 42.48 g/t Au over 0.6 m) (TUDDH-666, from 184.6 m depth)
  • 11.19 g/t Au over 2.4 m (including 30.75 g/t Au over 0.6 m) (TGC-0090, from 45.3 m depth)
  • 9.26 g/t Au over 2.7 m (including 13.11 g/t Au over 0.9 m) (TGC-0089, from 48.8 m depth)
  • 82.33 g/t Au over 0.3 m (TGC-0092, from 28.2 m depth)



Figure 1. Location of Zone 2 Grade Control and Infill Drillholes. Plan view of Tuvatu showing the Zone 2 grade control and infill drillholes included in this news release in relation to the mineralized lodes at Tuvatu. Drillholes are shown in black, mineralized lodes in grey, and underground developments in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/184530_7a7b2314041049c6_001full.jpg

Table 1. Highlights of composited grade control and infill drill results in the Zone 2 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 2 in the appendix.

Hole IDFromToInterval (m)Au (g/t)
TGC-00924.55.71.284.96
TUDDH-67776.580.74.220.69
including78.380.72.432.81
which includes78.379.20.940.22
and79.279.80.613.08
and79.880.70.938.56
TUDDH-66389.194.25.113.6
including89.190.61.535.51
which includes89.189.40.313.99
and89.489.70.340.56
and89.7900.312.09
and9090.30.312.03
and90.390.60.398.87
and also including93.694.20.615.25
TGC-008556.561.65.113.22
including57.157.70.635.68
and58.659.50.920.89
and60.160.40.350.54
TUDDH-680140.9144.83.915.64
including140.9142.11.221.38
and143.6144.81.223.48
TUDDH-663177.3178.81.538.26
including177.3178.20.935.78
and178.2178.80.641.99
TUDDH-680146.6147.50.934.77
including146.6147.20.634.33
and147.2147.50.335.67
TUDDH-680148.7149.91.231.25
TUDDH-678135.3137.42.115.12
including136.2137.41.224.63
TUDDH-666184.6186.72.113.61
including186.1186.70.642.48
TGC-009045.347.72.411.19
including47.147.70.630.75
which includes47.147.40.325.52
and47.447.70.335.89
TGC-008948.851.52.79.26
including48.849.70.913.11
and50.651.50.910.21
TGC-009228.228.50.382.33
TUDDH-663169.2171.62.47.96
including170.1171.31.211.92
which includes170.7171.30.615.55
TGC-009560.360.60.362.38

Murau Lodes

The Murau lodes are located within the Zone 2 area of Tuvatu, along the upper portion of the western decline in the northwest part of the deposit. The Zone 2 area encompasses a number of distinct lode systems, including the URW1, URA1, and Murau lode systems. The Zone 2 area was the first to commence mining at Tuvatu and mining is ongoing in all three of these lode systems.

The current round of infill and grade control drilling in the Zone 2 area is focused on the Murau lode system, which is modelled as a series of stacked relatively flat lying lodes that strike approximately east-west and dip moderately to the south. The portion of the Murau lode system that is currently targeted for mining consists of a vertical extent of 55 m, an east-west strike length of 110 m, and a down-dip extension of 100 m.



Figure 2. Murau Lode System. Oblique section of the Murau lode system in relation to the infill and grade control drillholes reported here. View is to the ESE and slightly down dip along the Murau lodes. The stacked nature of the Murau lodes is visible in the image. Grade control drilling is focused on near-term mining whereas infill drilling is focused on the up-dip and down-dip extensions of the lodes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/184530_7a7b2314041049c6_002full.jpg

A total of 10 infill and 11 grade control drillholes are included in this release. The infill drill program was conducted from surface and was designed to target the up-dip and down-dip extension of the Murau lodes on approximately 20 m centers. The goal of the program is to provide an increased understanding of the system’s mineralization and geometry in these areas. The grade control drill program was conducted from underground on 5-10 m centers and was designed to provide much higher resolution of the Murau lode system in advance of mine development and extraction. The location of high-grade intercepts is shown in Figure 3 while examples of Murau lode mineralization are shown in Figure 4. The Zone 2 infill and grade control drill programs are ongoing. Previous drill results from the Zone 2 area can be seen in the news releases dated September 14, 2023, June 14, 2023, and April 25, 2023.



Figure 3. Location of High-Grade Intercepts from Zone 2 Infill and Grade Control Drilling, 3.0 g/t Au cutoff. Oblique section view of the Murau lode system highlighting the high-grade intercepts from the Zone 2 infill and grade control drill program in the Murau system. View is to the ESE and slightly down dip along the Murau lodes. Downhole composite intervals with grades between 3 and 10 g/t Au are shown in orange, intervals with grades between 10 and 30 g/t Au are shown in red, and intervals over 30 g/t Au are shown in purple. Select high-grade intervals are identified. Grades shown are gold grades in g/t.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/184530_7a7b2314041049c6_003full.jpg



Figure 4. Example Mineralization from Zone 2 Infill and Grade Control Drilling. Top left: Monzonite-hosted quartz vein with coarse grained pyrite and honey-sphalerite (TUDDH-678, 136.3 m). Top right: Vuggy chalcedony-pyrite veinlet with well-developed alteration selvage (TUDDH-667, 156.3 m). Bottom left: Vuggy quartz vein with coarse-grained pyrite and honey sphalerite within a 5.1 m zone of 13.22 g/t Au (TGC-0085, 60.2 m). Bottom right: Monzonite-hosted quartz-pyrite-sphalerite vein (TUDDH-661, 131.7 m). Core diameter is 4.76 cm in each photo.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/184530_7a7b2314041049c6_004full.jpg

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“, Chairman and CEO

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 Service Provider accepts responsibility for the adequacy or accuracy of this release

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

Appendix 1: Full Drill Results and Collar Information

Table 2. Composited results from grade control and infill drillholes in the Zone 2 area (grade >3.0 g/t Au)

Hole IDFromToInterval (m)Au (g/t)
TGC-008545.746.60.93.3
TGC-008547.548.71.24.69
TGC-008550.551.71.24.7
TGC-008554.454.70.315.23
TGC-008556.561.65.113.22
including57.157.70.635.68
and58.659.50.920.89
and60.160.40.350.54
TGC-008723.4240.610.82
including23.7240.314.44
TGC-008739.640.81.23.12
TGC-008749.850.10.33.72
TGC-008938.739.60.93.49
TGC-008941.641.90.312.45
TGC-008944.645.50.96.26
TGC-008948.851.52.79.26
including48.849.70.913.11
and50.651.50.910.21
TGC-009000.90.93.86
TGC-009034.835.40.66.74
TGC-009045.347.72.411.19
including47.147.70.630.75
which includes47.147.40.325.52
and47.447.70.335.89
TGC-00912727.30.37.94
TGC-009133.634.20.65.59
TGC-009144.144.40.314.89
TGC-00924.55.71.284.96
TGC-009228.228.50.382.33
TGC-00923939.60.611.7
including39.339.60.315.64
TGC-009242.643.50.95.18
TGC-009412.213.10.95.11
TGC-009449.150.31.215.29
TGC-00953940.21.213.7
including39.339.60.320.22
and39.940.20.330.52
TGC-009542.643.50.915.49
TGC-009554.955.20.36.72
TGC-009560.360.60.362.38
TGC-01008.49.30.93.64
TGC-010048.648.90.335.93
TGC-010060.961.20.39.85
TGC-010068.468.70.315.02
TGC-010072.973.50.65.3
TUDDH-661118.9120.11.23.03
TUDDH-661131.5132.10.67.09
including131.5131.80.310.38
TUDDH-66350.751.30.64.01
TUDDH-66389.194.25.113.6
including89.190.61.535.51
which includes89.189.40.313.99
and89.489.70.340.56
and89.7900.312.09
and9090.30.312.03
and90.390.60.398.87
and also including93.694.20.615.25
TUDDH-663101.11020.910.98
TUDDH-663154.5154.80.316.89
TUDDH-663159.9160.20.33.43
TUDDH-663162162.30.38.37
TUDDH-663164.71650.315.64
TUDDH-663169.2171.62.47.96
including170.1171.31.211.92
which includes170.7171.30.615.55
TUDDH-663173.1175.52.43.87
TUDDH-663177.3178.81.538.26
including177.3178.20.935.78
and178.2178.80.641.99
TUDDH-66473.774.30.63.07
TUDDH-66476.777.30.620.79
TUDDH-664121.8122.70.918.99
TUDDH-664124.51261.58.17
including125.41260.611.44
TUDDH-666101.8102.10.33.55
TUDDH-666167.5170.22.76.65
including169.3170.20.913.33
which includes169.3169.60.327.99
TUDDH-666184.6186.72.113.61
including186.1186.70.642.48
TUDDH-666193.3193.90.64.73
TUDDH-667153.1154.91.89.99
including153.7154.91.211.87
which includes153.71540.329.47
TUDDH-667156.1156.40.315.89
TUDDH-67069.4700.625.68
TUDDH-67074.575.40.94.37
TUDDH-67387.287.80.620.26
TUDDH-673150.8151.70.915.73
TUDDH-673157.7158.60.93.4
TUDDH-673162.2162.80.612.27
TUDDH-67769.670.50.94.41
TUDDH-67776.580.74.220.69
including78.380.72.432.81
which includes78.379.20.940.22
and79.279.80.613.08
and79.880.70.938.56
TUDDH-67782.282.80.64.35
TUDDH-67867.467.70.34.14
TUDDH-67883.4840.619.71
including83.7840.335.99
TUDDH-678135.3137.42.115.12
including136.2137.41.224.63
TUDDH-678144.6144.90.33.13
TUDDH-680135.5136.71.23.6
TUDDH-680138.8139.70.95.91
TUDDH-680140.9144.83.915.64
including140.9142.11.221.38
and143.6144.81.223.48
TUDDH-680146.6147.50.934.77
including146.6147.20.634.33
and147.2147.50.335.67
TUDDH-680148.7149.91.231.25

Table 3. Collar coordinates for grade control drillholes reported in this release. Coordinates are in Fiji map grid.

Hole IDEastingNorthingElevationAzimuthDipDepth
TGC-00851876267392075915177.3-62.081.7
TGC-008718762643920768152353.3-52.365.6
TGC-008918762643920768152356.2-67.465.5
TGC-009018762643920768153357.2-38.665.7
TGC-0091187626439207681528.1-46.171.7
TGC-00921876265392076815217.4-37.171.6
TGC-00941876266392076715148.0-79.660.8
TGC-00951876266392076815242.1-27.677.1
TGC-00971876267392076815342.1-8.280.6
TGC-00991876267392076815348.1-12.480.2
TGC-01001876267392076815346.6-19.276.4

Table 4. Collar coordinates for infill drillholes reported in this release. Coordinates are in Fiji map grid.

Hole IDEastingNorthingElevationAzimuthDipDepth
TUDDH-6611876179392073119963.1-51.2173.7
TUDDH-6631876178392073019961.1-73.4197.3
TUDDH-6641876177392073119952.4-59.3185.7
TUDDH-6661876177392072919974.1-77.1201.3
TUDDH-6671876177392072819983.2-57.8185.9
TUDDH-6701876259392080320354.3-55.398.6
TUDDH-6731876177392072819988.3-64.3194.7
TUDDH-6771876259392080320360.3-63.6101.9
TUDDH-6781876225392070921830.5-61.0151.4
TUDDH-6801876225392070921834.1-64.1165.0

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184530

Categories
Junior Mining Precious Metals

Emperor Metals Intersects 10.8 Metres of 15.8 g/t Au (including 3.4 m of 27.24 g/t Au); Identifies Overlooked Bulk Tonnage Open Pit Potential at Duquesne West Gold Project in Quebec

Vancouver, British Columbia–(Newsfile Corp. – October 17, 2023) – Emperor Metals Inc. (CSE: AUOZ) (OTC Pink: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to announce additional assay results from the ongoing summer 2023 drilling campaign at the Duquesne West Gold Project. Drilling continues at the property and, with the recent completion of hole DQ23-13, drilling has reached 8,239 metres of a planned +8,000 metres program.

Highlights

  • 10.8 metres (m) of 15.8 grams per tonne (g/t) gold (Au), including 3.4 m of 27.24 g/t Au in DQ23-05 (see Image 1, 2 and 3),
  • Drilling confirms open-pit potential with bulk tonnage grades in traditionally unsampled intervals, distinct from known underground potential (see Image 4 and 5).
  • Intersections are predicted to expand the Historical Resource of 727,000 ounces of gold at a grade of 5.42 g/t Au.1,2,
  • Drilling confirms the reliability of strategic AI Model, for example, DQ23-05 exceeds the average thickness and grade of the deposit and extends the mineralization along plunge as predicted.

CEO John Florek commented:

What is so impressive is the robustness of mineralization we are encountering. Our findings suggest a shift from a sole focus on high-grade gold to also include an open-pit potential knowing that these thick mineralized zones probably extend to the surface. Previous explorers were only focused on high-grade gold and ignored bulk tonnage opportunities. An approximate estimate of 70% of the historical core near surface has not been sampled.

Our strategic direction now encompasses the development of both pit-constrained and underground resources, which has the potential to substantially elevate the project’s prospects. The appeal of this property grows weekly as the assay results return from the lab.

The application of our AI Geological Model has been pivotal in facilitating a deeper understanding and potential expansion of the deposit. We are committed to the continued growth of this deposit in collaboration with our investors, employing targeted drilling and innovative approaches. We are clearly envisioning the ability to develop a multimillion-ounce potential with the addition of multiple mining scenarios on the property.

The proximity to multiple mills and infrastructure in a Tier 1 mining district makes this project highly valuable compared to its competitors.”

Summary of Drill Results:

DQ23-05 intersection (10.8 m of 15.8 g/t Au) was designed to extend mineralization +100 meters westward down plunge of high-grade mineralization. It intersected higher grade and thickness than predicted by the model, which will help to increase the grade and add ounces laterally to the mineralized stopes model (Images 1, 2 and 3).

Due to multiple zones of mineralization of both high-grade and lower grade bulk tonnage we have focused our remaining drilling towards the open pit concept that has been envisioned over the 2023 summer drilling program (Image 4). This is a significant milestone after examining the results of the 2023 drilling program, coupled with the lack of sampling in the near-surface historical drilling (Image 5). The partial results and the visuals from our 2023 campaign suggest broader mineralized zones potentially amenable for open pit mining (See Table 1 and previous press release dated Sept 12, 2023).

The open pit concept in images 4 and 5 show an ultimate pit with a depth extent to 400 meters; the footprint is 1.8 km by 0.8 km. Initial exploration will strategically focus on a phase 1 pit design. This will allow us to determine the economics as we progress through the phases having the necessary assay results for resource evaluation. Currently Emperor is sampling available, near-surface, core that was not assayed by previous explorers located in the historical core library. Up to 70% of this core has not been assayed.

Partial assays for these reported drillhole results continue to increase confidence to consider an open pit potential to the Duquesne West deposit. Lab results for other mineralized zones intersected in holes DQ23-02, 03, 04, and 05 are in progress.

Samples were sent to SGS Laboratories in Lakefield, ON.

Hole No.From (m)To (m)Interval (m)Au (g/t Au)
1DQ23-01659.7661.82.10.88
661.86631.20.47
663663.850.8510.7
Wt. Avg.4.152.77
794.481722.60.62
Wt. Avg.22.60.62
914.15942.9528.80.33
Wt. Avg.28.80.33
1DQ23-02517.2518.213.29
518.2519.210.69
Wt. Avg.21.99
677.1679.62.52.69
1DQ23-03417.75418.851.15.09
941.2942.2111.68
942.2943.210.59
Wt. Avg.26.14
1DQ23-04318.533617.50.45
Wt. Avg.17.50.45
433.7434.20.50.78
434.24350.81.81
435435.70.712.24
435.7436.450.758.98
Wt. Avg.2.756.23
44945012.59
45045110.22
45145219.92
Wt. Avg.34.24
548.3549.51.219.01
571.360634.70.45
Wt. Avg.34.70.45
651.35651.950.60.58
651.95652.60.655.14
Wt. Avg.1.252.95
2DQ23-05133135.52.55.01
257.2281.624.40.50
Wt. Avg.24.40.50
391.93931.13.25
393393.850.850.42
393.853951.151.98
Wt. Avg.3.12.00
556556.60.62.51
556.6557.30.71.53
557.35580.712.08
558558.650.6512.58
558.65559.350.722.54
559.35560.150.81.29
560.15560.90.750.02
560.9561.70.80.06
561.7562.711.47
562.7563.40.73.67
563.4563.90.5110
563.9564.550.6532.15
564.55565.10.5523.07
565.1565.80.70.05
565.8566.30.50.45
566.3566.80.584.42
Wt. Avg.10.815.85
Including:3.427.24
575.6559418.350.52
Wt. Avg.18.350.52
1Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.
2Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 80-90%.



Image 1: Figure showing DQ23-05 intercept-expanding ounces +100 meters along plunge of deposit. This intercept should continue building mineable stopes along this trend.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/184284_25cbe5e024e24b87_001full.jpg



Image 2: Representation of mineralized and altered core from DQ23-05 (10.8 m of 15.8 g/t Au (includes 3.4 m of 27.24 g/t Au)). Highly altered breccia zone containing quartz veinlets, sericite, and ankerite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/184284_25cbe5e024e24b87_003full.jpg



Image 3: Cross Section of DQ23-05 (Looking West) 10.8 m of 15.8 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/184284_25cbe5e024e24b87_004full.jpg



Image 4: Open Pit Concept. Showing both Phase 1 and Ultimate Pit Scenario.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/184284_25cbe5e024e24b87_005full.jpg



Image 5: Historical Drillholes (DDH) in Open Pit, showing lack of sufficient sampling for proper resource characterization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/184284_

Quality Assurance and Control

The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.

Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Lakefield laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QA/QC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda.

The third-party laboratory, SGS prep laboratory in Lakefield Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.

Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au – ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million (ppm). High grade gold analysis based on the presence of visible gold or a Fire assay result exceeding 100 ppm, are analyzed by Au – metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.

About the Duquesne West Gold Project

The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Under an Option Agreement, Emperor agreed to acquire a one hundred percent (100%) interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. (GMX-TSX). For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated October 12, 2022, available on SEDAR.

The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.1,2 The mineral resource estimate predates modern CIM guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

Reinterpretation of the existing geological model was created using Artificial Intelligence (A.I) and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

1 Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada for XMet Inc.

2 Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent Canadian Institute of Mining and Metallurgy (CIM) standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.

QP Disclosure

The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.

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.sedar.com), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Florek”

John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.

For further information, please contact:

Mr. Alex Horsley, Director
Phone: 778-323-3058
Email: alexh@emperormetals.com
Website: www.emperormetals.com

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.

FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184284