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Lion One Commences Mining on Second Lode System at Tuvatu

North Vancouver, British Columbia–(Newsfile Corp. – May 18, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce that it has commenced mining on the URW1 lode at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Strike driving has reached the URW1 Lode and the first underground images of the lode have been received (Figure 1). The initial intersection of the lode revealed one primary vein and numerous stockwork style veins. Visible gold was observed in multiple locations on the face of the lode and within four different fracture orientations (Figure 2). Three of these fracture orientations are sub-parallel to the grade control drill axis and would therefore be difficult to identify given their orientation relative to the grade control drilling (Figure 3). A sample line was completed perpendicular to the main vein, and a grab sample was collected from the foot of the face.

Highlights of the initial face sampling on URW1 are as follows:

  • 51.2 g/t Au over 0.56 m
  • 117.48 g/t Au over 0.19 m
  • 37.99 g/t Au over 0.19 m
  • 58.68 g/t Au (grab sample)



Figure 1. URW1 face and select samples. Face of URW1. Red lines indicate the approximate locations and widths of select chip samples collected from the sample line, dashed red circle indicates the approximate location of the grab sample, and small red circles indicate the locations of visible gold on the face. Gold grades in g/t are indicated in yellow.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/166597_5744e25494303b1b_001full.jpg.



Figure 2. Visible gold. A), B), C) Close-ups of visible gold highlighted in Figure 1, with gold circled in red. Width of each image is approximately 10-15cm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/166597_5744e25494303b1b_002full.jpg.



Figure 3. Fracture orientations vs orientation of grade control drilling. Grade control drilling (red arrow) is oriented perpendicular to the URW1 lode (blue rectangle). Shapes A, B, C, and D represent the approximate orientations of the gold bearing fractures within the URW1 lode. Orientations B, C, and D are sub-parallel to the axis of the bulk of the grade control drilling and are therefore difficult to identify. The approximate orientations of these fractures are as follows: A) sub-parallel to the main lode, B) striking E-W and dipping steeply to the south, C) striking E-W and subvertical dip, and D) sub-horizontal with variable dip directions.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/166597_5744e25494303b1b_003full.jpg.

Lion One Chairman and CEO Walter Berukoff commented: “We are excited to have started mining our second lode at the Tuvatu gold mine, especially so soon after we started mining our first lode. Without the diligence and hard work performed by our geology and engineering teams in Fiji we could not have located the lode as successfully and as accurately as we did.”

“We are extremely pleased with the amount of coarse-grained gold visible on the face of the lode, which is even more than was anticipated. Following our initial sampling of the face, and due to the presence of visible gold in multiple fracture orientations, we are optimistic that the overall grade of the URW1 lode could end up being even higher than what the grade control drilling has suggested. We continue to learn more about the Tuvatu system as we open the system up underground, and we are beginning to see how well-endowed the Tuvatu system truly is. Just like the discovery of the URA1 lode on our initial drive underground, the system continues to provide surprises to the upside as our underground developments progress.”



Figure 4. Location of URW1 Lode within Tuvatu. Plan view of the Tuvatu Main and West Zone deposits, with the URW1 Lode highlighted in blue. Underground developments are shown in red, and the other lodes within the Tuvatu Main and West Zones are shown in grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/166597_5744e25494303b1b_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.sedar.com.

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.

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Base Metals Energy Exclusive Interviews Junior Mining Precious Metals

Dolly Varden – Announces 5 Drill Rigs, 45,000 Meter Gold, Silver Exploration Program

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25kms by road to deep tide water.

The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The 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).

Press Release: https://bit.ly/456H2xx

Dolly Varden Silver Corp: (TSX.V: DV | OTCQX: DOLLF)
Website: https://www.dollyvardensilver.com/
Fact Sheet: https://bit.ly/3RKRTa3
Corporate Presentation: https://bit.ly/3x1BEfq
Email: info@dollyvardensilver.com
Phone: 604-602-1440

The Best Video on Why and When to Buy and Sell Physical Precious Metals:

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Website| www.provenandprobable.com
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Base Metals Breaking Collective Mining Energy Exclusive Interviews Junior Mining Precious Metals

COLLECTIVE MINING EXPANDS THE HIGH-GRADE SHALLOW ZONE AT APOLLO

Press Release: https://bit.ly/3o53OFe

Collective Mining: Rapidly advancing, large scale gold-copper-silver-moly porphyry and breccia targets with related high-grade vein systems in the mining-friendly department of Caldas in Colombia Collective Mining’s two projects the Guayabales (Flagship) and the San Antonio (Secondary) are situated in Marmato, an underexplored yet multi-million ounce, high-grade gold and silver district located in the Middle Cauca belt in Colombia. With six out of eleven targets drilled, the Company has made three promising grassroot discoveries to date and is awaiting assay results on a potential fourth discovery. Drilling activity continues at a brisk pace with a 20,000+ metre drill program in 2022.

COLLECTIVE MINING:
Listing:(TSX.V: CNL | OTCQX: CNLMF)
Website: https://www.collectivemining.com/
Corporate Presentation: https://bit.ly/3IiUrsB
Facebook: https://www.facebook.com/CollectiveMiningCol
Twitter: https://twitter.com/CollectiveMini1
LinkedIn: https://www.linkedin.com/company/collectivemining/?originalSubdomain=co
Instagram: https://www.instagram.com/collectivemining/
Youtube: https://www.youtube.com/channel/UC0J8zpCq0TNhJQePKdCrJag

The Best Video on Why and When to Buy and Sell Physical Precious Metals:

I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded Period! Where we provide unlimited options to expand your precious metals portfolio, from:

Physical Delivery
BRINKS depository accounts
Precious Metals IRA’s

Website| www.provenandprobable.com
Call Me |855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

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Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Expands the Dimensions of the High-Grade Shallow Zone of Mineralization at the Apollo Porphyry System and Intersects Significant Visual Mineralization Along the Newly Discovered Contact Zone

  • Hole APC-46 was drilled westward from Pad 6 and intersected a long and continuous interval of gold-silver-copper mineralization beginning at surface in oxide mineralization and bottoming in mineralization with results as follows:
  • APC-46 extended the strike length of the shallow mineralization to the west with the dimensions now measuring 160 metres x 130 metres (previously 150 metres x 130 metres).
  • APC-46 bottomed in mineralization in quartz diorite porphyry with the final 7.1 metres averaging 0.88 g/t AuEq.
  • APC-44 was drilled to the northwest from Pad 6 and intercepted a long and continuous zone of gold-silver-copper mineralization beginning at surface in oxide material and bottoming in mineralization with results as follows:
  • Detailed visual logging of drill hole APC-53, which was drilled to the northeast from Pad 10, indicates that two potentially significant zones of mineralization were encountered along the hole. APC-53 was designed to step-out along the recently announced “Contact Zone” where drill hole APC-42 cut 104.8 metres from surface at 5.56 g/t AuEq (see press release dated April 25, 2023). The reader should take caution until assay results are received from a third-party laboratory as visual results are inherently unreliable in nature.
  • Eight additional holes have been completed at the Apollo system with assay results for APC-45, APC-47 and APC-48 expected in the near term. All eight holes intersected cumulative mineralization over varying yet significant downhole drill lengths. Three drill rigs are operating on site with a fourth rig expected to begin operating prior to the end of Q2, 2023. Once onsite, the fourth rig will focus on testing the six new exploration targets directly surrounding the Apollo system (see press release dated April 18, 2023 for further details).

Ari Sussman, Executive Chairman commented: “The first part of our 2023 drilling program, which was focused on outlining the near surface portion of the Apollo system is nearing completion. The next phase of the program is already underway and will focus on growth by looking to expand the Apollo system with step-out drilling and by testing satellite targets surrounding Apollo and other targets on the greater Guayabales property. The visual observations from APC-53 are very exciting as the Contact Zone hosts an intensity of sheeted CBM veins not observed yet elsewhere at the project. We look forward to continuing drilling this new area as we look to unlock its high-grade potential.”

TORONTO, May 16, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further two drill holes completed within the Apollo porphyry system (“Apollo”) as well as visuals from a new exploratory drill hole at the Guayabales project located in Caldas, Colombia.  Apollo is a high-grade, bulk tonnage copper-silver-gold system, which owes its excellent metal endowment to an older copper-silver and gold porphyry system being overprinted by younger precious metal rich, carbonate base metal vein systems (intermediate sulphidation porphyry veins) within a magmatic, hydrothermal inter-mineral breccia body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

APC-44 and APC-46 Details (See Table 1 and Figures 1-4)

The Phase II drilling program of 2023 is advancing on schedule with fifteen holes completed and results announced. A further eight holes have been drilled and await assay results from the lab. The objectives of the 2023 program are to define the high-grade mineralization and dimensions of the Apollo porphyry system near surface, expand the size of the system through step-out and directional drilling and drill test multiple new targets generated through grassroots exploration. Since the announcement of the discovery hole at Apollo in June 2022, a total of 46 drill holes (approximately 20,700 metres) have been completed and assayed.

This press release outlines results from two exploratory holes drilled in westerly directions from Pad 6 and designed to understand and expand upon the shallow mineralization and the morphology of the system on its western side. Assay results and geological observations for both holes are summarized below:

APC-44 was drilled steeply to the northwest from surface at Pad 6 to a maximum downhole depth of 430.2 metres. The mineralized interval of oxidation commenced from surface to 37.55 metres and consists of saprolite from 2 to 21.95 metres followed by a transition zone down to 39.55 metres. The transition zone hosts iron oxides formed from the oxidation of the original sulphides hosted within the matrix of the breccia and within veins. Below the zone of oxidation, the intercept passed into fresh rock hosting mineralized breccia with a sulphide composition of 0.4% chalcopyrite, 1.0% pyrite and some pyrrhotite (up to 0.3%). Mineralization continued until 430.2 metres (420 metres vertical) when drilling was stopped while still in mineralization. At 148.25 metres downhole for approximately 18.5 metres, a zone of sheeted carbonate and base metal vein (CBM) material flooding the breccia matrix was encountered, containing 0.2% to 0.5% sphalerite and chalcopyrite associated with higher gold grades. The following assay results are highlighted:

  • 428.2 metres @ 1.41 g/t gold equivalent from 2 metres downhole (consisting of 0.61 g/t gold, 29 g/t silver and 0.24% copper) and including:

APC-46 was drilled to the west from Pad 6 to a maximum downhole depth of 428.20 metres and was targeted to test the westward extension of the Apollo system from surface. The drill hole intercepted porphyry and breccia impregnated mineralization before bottoming while still in mineralization at the end of the hole (400 metres vertical). The mineralized interval commenced directly below cover material from 5.75 metres depth with saprolite followed by saprock and then continued into transition material (oxidized sulphides) until a downhole depth of 28.25 metres. Below the oxide transition zone, the intercept passed into fresh rock consisting of quartz diorite breccia with a matrix of chalcopyrite (0.4%), pyrite (0.8%) and pyrrhotite (0.4%) before entering a post mineral dyke at 363.8 metres. At 418.45 metres, the hole exited the post mineral dyke and entered into quartz diorite porphyry until being terminated within mineralization at 425.6 metres. Assay results for this hole are as follows:

  • 358.0 metres @ 1.52 g/t gold equivalent from 5.75 metres downhole (consisting of 0.55 g/t gold, 31 g/t silver and 0.32% copper) including:
  • APC-46 is notable for the fact it expanded the near surface mineralization to the west and as a result, the overall dimensions have grown to 160 metres x 130 metres (previously 150 metres x 130 metres).

APC-53 Details (see Figure 3)

Detailed visual inspection of recently completed drill hole APC-53 has intersected two distinct zones of mineralization. APC-53 was drilled to the northeast from Pad 10 and was expected to remain above the known mineralized system until 230 metres downhole when it would enter mineralized breccia. However, an intense zone of multiple sheeted CBM veins overprinting mineralized quartz diorite was intersected from surface to a downhole depth of up to 150 metres. This newly discovered zone hosts continuous sheeted CBM veinlets containing sphalerite, galena, chalcopyrite and pyrite which overprint quartz diorite porphyry mineralization consisting of quartz vein stockwork hosting pyrite and minor chalcopyrite. As the hole progressed, typical mineralized angular breccia was intercepted downhole at 233 metres and continued for approximately 285 metres in length.  Multiple zones of sheeted CBM zones flooding the matrix were observed within the breccia. In particular, a zone extremely enriched in CBM vein fluid was observed from 277 metres downhole to 334 metres downhole with the breccia matrix hosting abundant sphalerite (0.2% to 3%) and galena (0.1% to 3%) as well as chalcopyrite (0.3% to 2.0%).  Assay results for APC-53 are expected in June 2023 and additional drilling in this area is planned in the short term.

Apollo Drill Program

Eight additional holes have been completed at the Apollo system with assay results expected in the near term. All holes intersected bulk tonnage mineralization over significant core lengths.

The Company presently has three diamond drill rigs operating at the Apollo project. A fourth drill rig is being mobilized to the project and is expected to initiate testing of the new exploration targets identified around Apollo (see press release dated April 18, 2023) in June 2023.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area, and represents a large and unusually high-grade Cu-Ag-Au porphyry system. Mineralization styles include early-stage porphyry veins, inter-mineral breccia mineralization and multiple zones of porphyry related late stage, sheeted, carbonate-base metal veins with high gold and silver grades. The Apollo target area is still expanding as the Company’s geologists have found multiple additional outcrop areas (see Collective press release dated April 18, 2023) with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins.

Table 1: Assay Results APC-44 and APC-46

Hole #FromToInterceptAuAgCuMoAuEqCuEqZone
(m)(m)Interval (m)(g/t)(g/t)%%(g/t)*(%)*
APC-442.00430.20428.200.61290.240.0021.410.75
Incl**2.0039.5537.551.81140.100.0012.13Oxidation +
Transition Zone 
Incl2.0021.9519.952.84130.070.0013.07Oxidation Zone
and148.25166.5018.253.02830.650.0025.21 CBM zone
APC-465.75363.75358.000.55310.320.0021.520.81
Incl**5.7534.0028.252.06220.100.0012.48Oxidation Zone +
Transition Zone
incl5.7525.0019.252.65240.050.0013.01Oxidation Zone
and153.05213.660.551.13480.530.0022.69
and418.45425.67.100.8040.020.0020.88Porphyry Phase
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag g/t x 0.016 x 0.88) + (Cu (%) x 1.87 x 0.90)+ (Mo (%)*11.43 x 0.85) and CuEq (%) is calculated as follows: (Cu (%) x 0.90) + (Au (g/t) x 0.51 x 0.97) + (Ag (g/t) x 0.009 x 0.88)+ (Mo(%)x 6.10 x 0.85) utilizing metal prices of Cu – US$4.10/lb, Ag – $24/oz Mo – US$25.00/lb and Au – US$1,500/oz and recovery rates of 97% for Au, 88% for Ag, 85% for Mo, and 90% for Cu. Recovery rate assumptions are speculative as limited metallurgical work has been completed to date. A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut. 
(**) Zone of Oxidation + Transition Zone
Figure 1: Plan View of Drilling Highlighting Assay Results of APC-44 and APC-46 and the location of new hole APC-53 (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of Drilling Highlighting Assay Results of APC-44 and APC-46 and the location of new hole APC-53 (CNW Group/Collective Mining Ltd.)More
Figure 2: SW - NE Cross section Highlighting APC-33, APC-43, APC-44 and APC-46 (CNW Group/Collective Mining Ltd.)
Figure 2: SW – NE Cross section Highlighting APC-33, APC-43, APC-44 and APC-46 (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights of APC-53 Highlighting the Upper Zone of Sheeted CBM Veins Overprinting Quartz Diorite Porphyry and the Lower Zone of Intermineral Breccia Mineralization with Intense CBM Veining Overprinting Porphyry Mineralization (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights of APC-53 Highlighting the Upper Zone of Sheeted CBM Veins Overprinting Quartz Diorite Porphyry and the Lower Zone of Intermineral Breccia Mineralization with Intense CBM Veining Overprinting Porphyry Mineralization (CNW Group/Collective Mining Ltd.)More
Figure 3.1: Core Photo Highlights of APC-53 Highlighting the Upper Zone of Sheeted CBM Veins Overprinting Quartz Diorite Porphyry and the Lower Zone of Intermineral Breccia Mineralization with Intense CBM Veining Overprinting Porphyry Mineralization (CNW Group/Collective Mining Ltd.)
Figure 3.1: Core Photo Highlights of APC-53 Highlighting the Upper Zone of Sheeted CBM Veins Overprinting Quartz Diorite Porphyry and the Lower Zone of Intermineral Breccia Mineralization with Intense CBM Veining Overprinting Porphyry Mineralization (CNW Group/Collective Mining Ltd.)More
Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)
Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver, and gold exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portion of the porphyry system while continuing to expand the overall dimensions of the system, which remains open in most directions.

Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock, soils and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski73) and Collective Mining (@CollectiveMini1) on Twitter.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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 news release.

Collective Mining Logo (CNW Group/Collective Mining Ltd.)
Collective Mining Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

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Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Royalty Announces First Quarter 2023 Results

Vancouver, British Columbia–(Newsfile Corp. – May 15, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended March 31, 2023 (“Q1-2023”). The Company’s filings for the quarter are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board. All dollar amounts in this news release are in USD unless otherwise noted.

HIGHLIGHTS

Financial Updates for the Three Months Ended March 31, 2023

  • Revenue and other income for the three months ended March 31, 2023 was $2,742,000 (Q1-2022 – $1,749,000). Adjusted revenue and other income[1] of $4,968,000 (Q1-2022 – $3,209,000) included $2,226,000 (Q1-2022 – $1,460,000) in income for the Company’s share of royalty revenue from the Caserones Mine (effective) royalty interest in Chile.
  • Net loss for the three months ended March 31, 2023 was $3,726,000 (Q1-2022 – income of $18,592,000). The prior year comparative quarter included a net settlement paid by Barrick Gold Corporation of $18,825,000.
  • Cash used in operating activities for the three months ended March 31, 2023 was $2,832,000 (Q1-2022 – cash provided by operating activities of $16,270,000). Adjusted cash1 used in operating activities for the three months ended March 31, 2023 was $1,935,000 (Q1-2022 – adjusted cash provided by operating activities of $17,172,000).
  • As at March 31, 2023, EMX had cash and cash equivalents of $9,089,000 (December 31, 2022 – $15,508,000), $3,517,000 in cash held in trust to acquire an additional 2.263% ownership in SLM California SpA, investments, long-term investments and loans receivable valued at $15,116,000 (December 31, 2022 – $14,561,000) and loans payable of $40,949,000 (December 31, 2022 – $40,489,000).

Corporate Updates

Timok Dispute Update
On January 27, 2022 the Company announced that it had suspended the filing of a Notice of Arbitration to Zijin Mining Group Ltd (“Zijin”) regarding its royalty agreement covering the Timok project in Serbia, which includes the producing Cukaru Peki copper and gold mine. This suspension followed EMX’s previous announcement of its intention to file the Notice of Arbitration to formally dispute the royalty rate as defined under the Royalty Agreement (see EMX news release dated December 17, 2021). Discussions with Zijin have since proved amicable and productive and continued through Q1 2023. Both companies are expecting to execute a modified royalty agreement in 2023.

Acquisition of Additional Royalty Interest on Caserones
Subsequent to March 31, 2023, EMX acquired an additional 2.263% ownership in the underlying Caserones royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM”), for cash consideration of $3,517,000 pursuant to agreements with existing shareholders of SLM. The acquisition provides EMX with a further 0.044% (effective) net smelter royalty (“NSR”) interest in the Caserones property, increasing the Company’s NSR royalty interest to 0.7775%.

Royalty and Royalty Generation Updates

During Q1 2023, the Company’s royalty generation business was active in North America, South America, Europe, Turkey, Australia and Morocco. The Company spent $5,730,000 (Q1-2022 – $4,262,000) on royalty generation costs and recovered $2,884,000 (Q1-2022 – $2,128,000) from partners. Royalty generation costs include exploration related activities, technical services, project marketing, land and legal costs, as well as third party due diligence for acquisitions. During Q1 2023, the Company also completed four partnerships across the portfolio while continuing to replace partnered properties with new royalty generation projects.

Producing Royalties6
Advanced Royalties11
Exploration Royalties153
Royalty Generation Properties98



Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/166176_fig1emx.jpg.

Highlights from Q1 2023 include the following:

  • In the US, the Company’s royalty portfolio advanced with more than 10 partner-funded work programs, including 2 drill projects, and the expansion of several properties through the staking of new claims. The Company continued to advance projects retained by South32 Limited, including the ongoing drill program at the Copper Springs project in Arizona’s Globe-Miami district.
  • EMX executed definitive agreements to sell the Company’s a) portfolio of 14 early stage precious and base metal projects in Idaho (i.e., ranging from grassroot to historical resource properties) and b) wholly-owned core drilling subsidiary, Scout Drilling LLC, to Scout Discoveries Corp. (see EMX news release dated March 8, 2023). The terms of the definitive agreements provide EMX with an equity interest, retained 3.25% NSR royalty interests, AAR payments, and certain milestone payments as the portfolio is advanced. The portfolio represents the largest unpatented claim holdings in Idaho.
  • In Canada, EMX programs advanced available properties in the portfolio as partners conducted multiple field programs, including drill programs on EMX royalty properties. EMX received C$16,000 in cash payments and C$Nil in share equity payments during the quarter.
  • EMX’s Latin American royalty portfolio advanced with work programs that included drilling at the Diablillos project’s JAC Zone silver-gold discovery by AbraSilver Resource Corp., the commencement of a drill program at Pampa Metals Corporation’s Block 4 Buenavista target, as well as updated resource estimates at Aftermath Silver Ltd.’s Berenguela polymetallic CRD project and GR Silver Mining Ltd’s San Marcial epithermal silver project.
  • Lundin Mining Corporation (“Lundin”) entered into a binding purchase agreement with JX Nippon to acquire fifty-one percent (51%) of the issued and outstanding equity of MLCC, the Caserones mine operator (see Lundin news release dated March 27, 2023). Lundin will also have the right to acquire up to an additional 19% interest in Caserones.
  • In Northern Europe the Company continued to develop its portfolio of projects, acquiring new gold and battery metals (nickel, copper and cobalt) royalty generation projects totaling 15,456 hectares, and partnered four available properties. Partner funded drill programs were completed by Capella Minerals Ltd at EMX’s Kjoli royalty property in Norway and by Kendirck Resources PLC at EMX’s Espedalen royalty property in Norway. Results from those programs are pending. Drilling also commenced at the Mo-I-Rana royalty property in Norway at the end of Q1 (operated by Mahvie Minerals AB, a private Swedish corporation).
  • Royalty generation programs proceeded in the Balkans and in Morocco, where multiple exploration license applications have been filed by the Company. New target areas are being assessed for further acquisitions.

Investment Updates

As at March 31, 2023, the Company had marketable securities of $9,421,000 (December 31, 2022 – $9,966,000), and $4,678,000 (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. During the three months ended March 31, 2023 EMX generated $776,000 (Q1-2022 – $662,000) from the sale of investments. Much of the investment portfolio was derived from strategic investments including Premium Nickel Resources Ltd., and royalty deals completed as part of our organic royalty generation business.

OUTLOOK

The 2023 year will continue to see revenue and other income coming from our cash flowing royalties, including Leeville in Nevada, Gediktepe in Turkey, potentially Timok in Serbia (pending conclusion of discussions with Zijin), 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. As a royalty holder, the Company has limited, if any, access to information on properties for which it holds royalties. Additionally, the Company may receive information from the owners and operators of the properties, which the Company is not permitted to disclose to the public pursuant to the underlying agreement or the information is not NI 43-101 compliant. Accordingly, the Company has not, and does not anticipate that it will have the ability to, provide guidance or outlook as to future production.

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.

Qualified Person. 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 and Latin America. 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 year ended December 31, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

[1] Adjusted revenue and other income and adjusted cash provided by (used in) 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 23 of the Q1 2023 MD&A for more information on each non-IFRS financial measure.

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Base Metals Energy Junior Mining Precious Metals

Terra Balcanica Appoints Business Development Officer

Terra Balcanica Resources Corp.
Terra Balcanica Resources Corp.

Vancouver, British Columbia, May 15, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the appointment of Rodney Stevens as its Business Development Officer.

Mr. Stevens is a CFA Charterholder with over a decade of experience in the capital markets, first as an investment analyst with Salman Partners Inc., and subsequently as a merchant and investment banker. While at Salman Partners, he was proclaimed the 2007 top-rated analyst for the metals and mining industry by StarMine. Mr. Stevens was also a portfolio manager registered with Wolverton Securities Ltd. and over the course of his career, he has been instrumental in assisting financings, mergers and acquisitions worth over C$1 billion in transactional value.

In consideration of his business development efforts, the Company will grant Mr. Stevens options and other compensation at a future date as appropriate, at the discretion of the Board of Directors.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “Terra continues to add high quality personnel to its senior management team. Mr. Stevens is superbly knowledgeable about the North American precious metal commodity space and in particular, silver-focused, mineral exploration industry. He shares the common vision of Terra as a prime European silver discovery explorer and his capital markets insight will be crucial as we progress up the inflection point of our corporate development. I welcome Rod to the roster and look forward to working with him in anticipation of exciting 2023 drill results.”

About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.

Aleksandar (Alex) Mišković
President and CEO

For further information, please contact amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Base Metals Exclusive Interviews Junior Mining Precious Metals

GOLD79 MINES – 3 WALKER LANE GOLD PROJECTS

FINANCE OPPORTUNITY – https://bit.ly/3W1RtOT

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com

I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded Period! Where we provide unlimited options to expand your precious metals portfolio, from:

Physical Delivery
BRINKS depository accounts
Precious Metals IRA’s

Website| www.provenandprobable.com
Call Me |855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

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Base Metals Capitalism Morality Junior Mining Precious Metals

Wokes aren’t Leftis – Gold79 Mines – Jayant Bhandari

Musings on Investing

POSTED BY: JAYANT BHANDARI MARCH 1, 2023

Many people consider wokeism to consist of harmless, left-wing talking points. Darcy Gerow and I discussed that these people should not be regarded as leftists, certainly not communists:

On Investments

Gold79 Mines (AUU; $0.035) has released some exciting results from their Gold Chain project, with one hole (GC23-28) grading 51 g/t over 9 m. This hole is at the junction of the Tyro mine vein and White Spar fault, opening up a possibility of a so-far unexplored higher grade zone. Here are briefly their projects:

  • The drilling at the Gold Chain project is giving them approximately 30 m of 1.5 g/t Au over a structure that is 100m deep. They have, in my view, shown a 500 m strike length at the Tyro mine vein. This would equate to about 200,000 oz. This rock should be oxidized. This, even without the higher-grade hit, should justify the market capitalization. Moreover, in its news release, the company believes that the strike could exceed 2,000 m, giving it the potential to contain 800,000 oz. If further drilling proves this potential, the upside from this project is substantial.
  • The Jeffrey Canyon project has been optioned to Kinross. To earn 70% of the project, Kinross must pay US$5 million in cash and spend US$0.6 million. Assuming this agreement continues, AUU will have earned US$5 million in cash and retained 30% of the project, whose attributed value based on money spent by Kinross would be US$2.4 million. This would be a total value of US$7.4 million or $10 million for AUU.
  • AUU bought the Tip Top project for a consideration of over $1.5 million in 2020.
  • The Greyhound project is being operated by Agnico Eagle, which has spent $3 million to earn about two-thirds of the project. The attributed value for AUU is $1.5 million.

Based on the above, I see the market capitalization of AUU well-underpinned by the Gold Chain project. The recent higher grade hit, the potential at Gold Chain to prove a much longer strike length, and the other three projects give me a free upside.

AUU is short of cash. They also have 27 million warrants with an exercise price of $0.05 (expiry, November 2025). Twenty-seven million shares from the last financing will be free-trading on the 19th of March, 2023. They have 174 million shares, most of which are with retail investors. While I see a terrific upside, these technical reasons could limit the move up for the next few weeks, particularly when AUU has increased by 60%. I am happy to bid at C$0.035.

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence, or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

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Base Metals Energy Junior Mining MillRock Resources Precious Metals

Alaska Energy Metals Announces Financing

Alaska Energy Metals Corporation
Alaska Energy Metals Corporation

Not for Distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) — Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: MLRKF) (“Alaska Energy Metals” or the “Company”) announces that it plans to raise funds through two concurrent equity private placements. One financing will use the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 Prospectus Exemptions (the “LIFE PP Offering”) and the second financing will use other prospectus exemptions (the “Standard Equity Offering”).

LIFE PP Offering

Under the LIFE PP Offering, minimum gross proceeds of CAD$1,799,000 and maximum gross proceeds of CAD$2,142,000 are to be raised through a non-brokered private placement. Under the LIFE PP Offering, a minimum of 6,425,000 common shares and maximum of 7,650,000 common shares will be issued at a price of CAD$0.28 per share. The proceeds of the LIFE PP Offering are intended to be used primarily for exploration on the Canwell block of claims on the Company’s Nikolai project where very high grade nickel – copper – gold – platinum group element mineralization is exposed at surface. There is an offering document related to the LIFE PP Offering that can be accessed under the Company’s profile at www.sedar.com and at www.alaskaenergymetals.com. Prospective investors should read this offering document before making an investment decision. The LIFE PP Offering is subject to receipt of TSX Venture Exchange acceptance.

Finder’s fees of up to 8% cash (which may instead be payable in common shares of the Company) and 8% finder’s warrants (the “LIFE PP Offering Finder’s Warrants”) may be paid in connection with the Life PP Offering. The LIFE PP Offering Finder’s Warrants will entitle the holder to purchase one Alaska Energy Metals common share at a price of $0.28 for a period of twelve months and will be non-transferable. A CAD$30,000 due diligence fee is also payable.

Standard Equity Offering

Under the Standard Equity Offering, the Company intends to raise gross proceeds of CAD$450,000 through a non-brokered private placement. If the full amount is raised, 1,607,143 common shares would be issued. Common shares of the Company will be sold at CAD$0.28 per share. The gross proceeds from the Standard Equity Offering will be used primarily to do metallurgical studies on drill samples (approximately CAD$300,000) collected from the Eureka zone of nickel – copper – cobalt – chrome – iron – platinum – palladium mineralization at the Company’s Nikolai project in Alaska. Most of the remainder of the gross proceeds raised will be used for road upgrade and extension permitting, wetlands studies, resource calculation preparation, marketing and general corporate purposes.

Finder’s fees of 6% cash and 6% finder’s warrants (the “Standard Equity Offering Finder’s Warrants”) may be paid in connection with the Standard Equity Offering. The Standard Equity Offering Finder’s Warrants will entitle the holder to purchase one Alaska Energy Metals common share at a price of $0.28 for a period of twelve months and will be non-transferable. Shares issued under the Standard Equity Offering will be subject to a four-month hold period. The Standard Equity Offering is subject to receipt of TSX Venture Exchange acceptance. Gregory Beischer, the Company’s president and chief executive officer, is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release.

About Alaska Energy Metals
Alaska Energy Metals Corporation is focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, and palladium. Located in development-friendly central Alaska near existing transportation and power infrastructure, the project is well-situated to become a significant, domestic source of critical and strategic energy-related metals.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the completion of the LIFE PP Offering and Standard Equity Offering, the Company’s successful realization of adequate financing to explore and develop the Nikolai project and to achieve milestones successfully. The potential quantity and grade of mineralized rock targeted by Alaska Energy Metals is conceptual in nature. There has been insufficient exploration drilling to estimate a mineral resource, and it is uncertain if further exploration will result in the estimation of a mineral resource. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

This news release does not constitute an offer for sale, or a solicitation of an offer to buy, in the United States or to any “U.S Person” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any equity or other securities of the Company. The securities of the Company have not been, and will not be, registered under the 1933 Act or under any state securities laws and may not be offered or sold in the United States or to a U.S. Person absent registration under the 1933 Act and applicable state securities laws or an applicable exemption therefrom.

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Provides Update on Warrant Listing

North Vancouver, British Columbia–(Newsfile Corp. – May 11, 2023) – Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQX: LOMLF) (“Lion One” or the “Company”) announces that the share purchase warrants (the “Warrants“) issued on May 11, 2023 pursuant to its bought deal offering (the “Offering“) of 29,350,000 units of the Company at a price of $0.92 per Unit for aggregate gross proceeds of $27,002,000 will be listed on the TSX Venture Exchange under the trading symbol “LIO.WT”. The Warrants are expected to commence trading on May 15, 2023.

Each Warrant is exercisable to acquire one common share of the Company at a price of C$1.25 until 5:00 pm (Vancouver time) on November 11, 2025. The Warrants are not subject to any accelerator provision that would enable the Company to accelerate the expiry date.

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 7 km 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

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

Neither the TSX Venture Exchange nor its Regulation 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165812