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Base Metals Exclusive Interviews Junior Mining Precious Metals Project Generators

Riverside Resources | $3.75M Earn-In Option Fortuna Silver

Register Here for the Rule Symposium:

Ladies and Gentlemen, welcome to Proven and Probable, I’m Maurice Jackson, we are delighted to have you here today, as we plan to have an action-packed interview highlighting Riverside Resources. If you are interested in a company that has a robust portfolio that involves: Joint Ventures, Royalties, Spin-Outs, Rare Earth Metals, and high-grade gold and copper, then you’re in the right place. In this interview with sit down with Dr. John-Mark Staude the CEO of Riverside Resources, which exemplifies the Project Generator business model, which just completed an Earn-In Option Agreement with Mid-Tier Producer Fortuna Silver for $3,750.000.00! Riverside Resources has polymetallic project throughout Canada and Mexico.

Riverside Resources | TSX.V: RRI | OTCQB: RVSDF
Website: https://rivres.com/

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Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Fortuna Silver Sign Exploration Earn-In Option Agreement for the Cecilia Project Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – March 13, 2024) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has signed an option agreement on March 8, 2024 with Fortuna Silver’s subsidiary Compania Minera Cuzcatlan (CMC) on Riverside’s Cecilia Gold Silver Project in Sonora, Mexico where through a series of payments and work commitments, Fortuna may earn a majority interest. Riverside will remain the program operator using its local team based in Hermosillo, Sonora and adding strength to its international geoscience staff. The Cecilia Project is a titled and 100% Riverside owned district scale gold and silver, low sulfidation epithermal system, located 40 KM southwest of the Mexico-U.S.A. border city of Agua Prieta and is directly accessible by a well-maintained paved and then dirt road. The project is over 60 KM sq and has over 10 different exploration targets, with at least two nested dome complexes like the domes in Peru at the Yanacocha Mining District and in Bolivia at the Korri Kollo Mine, which have produced well over 25M and 5M oz gold respectively. This new Agreement enables the Project to immediately move ahead with a robust exploration program and reflects the belief, by both parties, of the potential for rapid discovery of new precious metal deposits.

Highlights of the Agreement are summarized below:

  • Fortuna Silver Option of Riverside’s Cecilia project with commitment of work, including an initial planned minimum 1000 meters drilling campaign.
  • Work expenditures of 500k/yr for the first 4 years and 1.75M in final year.
  • An initial payment of $50,000 to Riverside upon signing and then $25,000 each year for a total of $150,000.
  • A total work spends of US$3,750,000 for an initial 51% interest and second option total spending of US$6,000,000 to earn 80% interest.

Option agreement terms:

  • First Option:
    • 5 years to earn 51% by spending US$3.75M in work and paying US$150,000 in cash payments to Riverside with required work of at least $500,000 in the first year for the Option and Riverside has the drill permits in hand. Fortuna has paid Riverside the initial $25,000 on signing and pays $25,000 more on filing the agreement in Mexico. Then pays Riverside $25,000 each year plus Riverside acts as operator for the program with a 10% management fee on top of the work spending commitments each year.
  • Second Option:
    • Upon completion of First Option, Fortuna may elect to progress with a second option to earn to 80% by spending an additional $2.25M in work over 3 additional years.
  • Third Option:
    • After completing Second Option, Fortuna may elect within 120 days to pay Riverside $5M cash and grant Riverside a 2% NSR where 1% NSR may be purchased before commercial production for $3M thereby Fortuna earning 100% interest in the project.

Riverside’s President and CEO, John-Mark Staude, stated: “We are delighted to partner with Fortuna Silver as we have had a productive and respectful relationship having worked in parallel in Mexico for over 15 years. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of deep and thorough exploration attention that this agreement provides.”

Riverside will be reimbursed for all annual concession maintenance fees, property taxes, access fees, and any other payments required to maintain the Project. As Operator, Riverside will manage the exploration programs and be entitled to collect administration fees of 10% on the work programs. Riverside Ceclia project is a high-quality project, and we are excited to see it now moving ahead with mid-Tier Mexico producer as our partner and the project fully fundable this way.

Riverside has the right to sell interest in the joint venture or royalty through a first right of offer (ROFO). Similarly, Fortuna can do the same providing Riverside with first right of offer.

Cecilia Project:

Riverside Resources has undertaken comprehensive exploration efforts at the property, including drilling activities that have yielded significant gold intercepts. Notably, drill results have intersected near surface promising intercepts such as 37 meters at 1.5 grams per ton of gold (>50 gram meter) within the rhyodacite dome, showcasing the property’s substantial potential at shallow depths. The project has high potential to follow these intercepts and go for larger intersections and big potential targets at depth.

What distinguishes this project is the potential of a preserved fertile dome system. The Magallanes Target, situated at the central part of the project, exhibits interaction within extensive NE-NW structures, presenting a compelling opportunity for the discovery of high-grade ore shoots and/or bulk-mineable epithermal gold-silver deposits. Moreover, the geological framework of the project, notably its host rock and stratigraphy as evidenced in the surrounding targets (e.g. in the Casa de Piedra Target), suggest the presence of mantos containing disseminated and/or replacement Au-Ag enriched polymetallic mineralization at depth. This geological scheme of the Cecilia Project resembles the Tertiary-age rhyolite systems, like the La Pitarrilla Ag-Pb-Zn project that has a total In-pit and Underground (Oxide, Transition and Sulphide) of about 844M AgEq*, and Fresnillo’s San Julian Ag-Au Mine (~350M AgEq**), both situated in Durango, Mexico and also located in the Sierra Madre Volcanic Province.

* See Endeavour Silver press release date December 8, 2022

** Obtained from Fresnillo public presentation, Hermosillo, Oct 2016

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201529

Categories
Base Metals Energy Junior Mining Project Generators

F3 and Traction Begin Drilling to Locate Source of Radioactive Boulders

A sonic drill has arrived on site to complete a 2,000-metre program, searching for the source of the Isle Brochet radioactive boulders, grading up to 8.23% U3O8.

Kelowna, British Columbia–(Newsfile Corp. – March 8, 2024) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that the 2024 winter drill program at the Hearty Bay project is underway with the arrival of the Boart Longyear drill crew on site. The program is designed to find the source of glacially dispersed uraniferous boulders and anomalous till geochemistry samples on Isle Brochet. The glacially dispersed material in combination with the recently completed gravity survey provides new, reliable targets for the program that were not tested in previous and historic drill programs.

A total of approximately 2,000 metres of drilling is planned using a Boart Longyear sonic drill that can recover and sample both overburden and bedrock. This is anticipated to trace anomalous overburden under the lake to the proposed source areas, which may be defined by one of the gravity low targets defined by this winter’s survey (see Figure 1). The program should be completed by the end of March, dependant on ice conditions.


 
Figure 1 Map Showing New Targets Up-Ice of the Isle Brochet Uranium Boulder Trains
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/200930_4c52026134f7b967_002full.jpg

Boart Longyear is the drill contractor, geomorphology experts are provided by Palmer Geotechnical Consultants Inc., while F3 Uranium Corp is the program operator; technical guidance will be given by Rock U Consulting (Ken Wheatley), Technical Advisor to Traction Uranium.

About Hearty Bay:

The Hearty Bay property comprising 7 contiguous mineral claims with an area of 11,173 ha. is located on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac uranium deposit and 60 km east of the Beaver Lodge uranium district. The property surrounds the historic Isle Brochet high grade boulder field, consisting of the Wolfe and Jackfish 1km long dispersal trains trending in a down-ice direction and containing reported historic assay values up to 3.54% uranium. Approximately 600m to the northeast of the lake bottom a group of radioactive boulders were discovered reported to contain up to 1.4% U3O8. These boulders were both sandstone and altered basement rocks which was interpreted to indicate that the mineralized source was at or near the unconformity. The source of the boulders remains undetermined.

Prospecting work conducted by Fission 3 in 2019 on the historic Wolfe and Jackfish boulder fields at Isle Brochet identified and sampled 45 new occurrences of mineralized sandstone and basal conglomerate boulders, returning assay values of up to 8.23% U3O8 with over 24% of them >1% U3O8. The sandstone and conglomerate lithologies suggests the source originates at or near the Athabasca Sandstone – Basement unconformity, and likely nearby. This suggests that the Athabasca Basin margin represents a high-priority focus for exploration for the source.

Traction Uranium Corp. will sole fund the drill program for its exploration expenditures on the property to reach $3 million and thereby earning a 50% interest in the property. Traction has the option to acquire up to a 70% interest in the Hearty Bay Project by completing an additional $3 million in exploration work on the Hearty Bay Property by the end of 2025.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 17 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200930

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Record Preliminary Revenue for Year End 2023

Vancouver, British Columbia–(Newsfile Corp. – February 29, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce preliminary, unaudited, fourth quarter and annual revenue for the year ended December 31, 2023 (all figures in U.S. dollars).

Annual Results

The Company earned preliminary revenue and other income and adjusted revenue and other incomeof $26,621,000 and $37,028,000, respectively, for the year ended December 31, 2023 (2022 – $18,277,000 and $25,397,000, respectively), which represented a 46% and 46% increase, respectively, in comparison to the prior year. The significant increase is due to the commencement of royalty payments from the Timok Royalty Property, which resulted in $8,632,000 in royalty revenue in 2023, as well as an 80% increase in royalty revenue from Gediktepe and 46% increase in attributed royalty revenue from Caserones. In 2023, the Company recognized revenue from the Timok Royalty Property that was partially related to 2021 and 2022 sales. The portion attributed to Timok production in 2021 and 2022 amounted to $4,790,000.

Fourth Quarter Results

The Company earned preliminary revenue and other income and adjusted revenue and other incomeof $7,546,000 and $10,921,000, respectively, for the three months ended December 31, 2023 (2022 – $2,288,000 and $3,535,000, respectively), which represented a 230% and 209% increase, respectively, in comparison to Q4 2022.

“2023 was an unprecedented year for EMX. We achieved record revenues with the commencement of royalty payments from our flagship Timok Royalty Property combined with solid growth from our stable of quality cash flowing royalties,” commented Dave Cole, CEO. “We expect to continue to grow the Company in 2024 and continue to deliver shareholder value through our royalty generation business model.”

2024 Guidance

The Company is expected to file financial statements for the year ended December 31, 2023 before the end of Q1 2024. As part of this filing the Company anticipates providing revenue guidance for 2024.

Caserones Update

In January 2024, EMX acquired an additional 2.737% ownership in the underlying Caserones royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California”), for cash consideration of $4,742,000 pursuant to an agreement with Franco Nevada Corporation. The acquisition provides EMX with a further 0.0531% (effective) net smelter royalty (“NSR”) interest in the Caserones property, increasing the Company’s NSR royalty interest to 0.8306%.

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

For further information contact:

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

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.

Note 1

Reconciliation of Non-IFRS Measures

This news release contains certain financial performance measures that are not recognized or defined under IFRS (termed “non-IFRS measures”). As a result, this data may not be comparable to data presented by other issuers. For an explanation of these measures to related comparable financial information presented in the Financial Statements of the Company prepared in accordance with IFRS, refer to the discussion below. The Company believes that these non-IFRS measures are useful indicators of operating performance and are specifically used by management to assess the financial and operational performance of the Company. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Adjusted Revenue and Other Income

“Adjusted revenue and other income” is a non-IFRS financial measure, which is defined by EMX by taking total revenue and adding the Company’s share of royalty revenue related to the Company’s interest in SLM California. SLM California is the royalty holder of Caserones. The Company presents this non-IFRS measure as it believes that certain investors use this information to evaluate the Company’s performance and ability to generate cash flow in comparison to other royalty companies in the precious metals mining industry.

The following table reconciles “adjusted revenue and other income” to revenue and other income, the most directly comparable IFRS measure:

For the three months ended
December 31,
For the year ended
December 31,
 
(In thousands of US dollars)2023202220232022 
Total revenue and other income$7,546$2,288$26,621$18,277 
SLM California royalty revenue8,4383,30826,02418,887
The Company’s ownership %40.037.740.037.7 
The Company’s share of royalty revenue in Caserones$3,375$1,247$10,407$7,120 
     
Adjusted revenue and other income$10,921$3,535$37,028$25,397

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 the future price of copper, gold and other metals, the estimation of mineral reserves and resources, realization of mineral reserve estimates, the timing and amount of estimated future production, the Company’s growth strategy and expectations regarding the inclusion of revenue guidance for 2024 as part of the Company’s filing of its financial statements for the year ended December 31, 2023, or other statements that are not statements of fact. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “expects,” “anticipates,” “believes,” “plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,” “goals,” “objectives,” “potential,” “possible” or variations thereof or stating that certain actions, events, conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are based on a number of material assumptions, including those listed below, which could prove to be significantly incorrect, including disruption to production at any of the mineral properties in which the Company has a royalty, or other interest; estimated capital costs, operating costs, production and economic returns; estimated metal pricing, metallurgy, mineability, marketability and operating and capital costs, together with other assumptions underlying the Company’s resource and reserve estimates; the expected ability of any of the properties in which the Company holds a royalty, or other interest to develop adequate infrastructure at a reasonable cost; assumptions that all necessary permits and governmental approvals will be obtained; and the activities on any on the properties in which the Company holds a royalty, or other interest will not be adversely disrupted or impeded by development, operating or regulatory risks or any other government actions.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, failure to receive necessary approvals, changes in business plans and strategies, market conditions, share price, best use of available cash, copper, gold and other commodity price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks relating to the parties which produce the gold or other commodity the Company will purchase, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution, share price volatility and competition. Readers are cautioned that the figures presented herein have not been audited and are subject to change. As the Company has not yet finished its quarter-end close procedures, the anticipated financial information presented in this press release is preliminary, subject to final quarter and year-end closing adjustments, and may change materially.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which the Company will purchase gold, other commodities or receive royalties from, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold and other commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the Company’s MD&A for the quarter ended September 30, 2023, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199768

Categories
Base Metals Junior Mining Precious Metals Project Generators Uncategorized

Riverside Samples 21 g/t Gold at PAT Target on the Pichette Gold Project, NW Ontario

Vancouver, British Columbia–(Newsfile Corp. – February 29, 2024) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has located and sampled the PAT Vein showings inside its Pichette Project west of Geraldton, Ontario. As previously reported, P.A.T Mines drilled extensively a series of veins near the southern boundary in the 1950s. The company was also able to locate what it believes to be the PAT Veins where they outcrop on surface. Several samples were taken from the vein along a 50m exposed section that returned 1m chip samples of 13g/t and 21 g/t gold within banded iron formation units. These high-grade veins are similar to those mined at the Leitch and Sand River mines where the average grade was around 1 ounce/ton gold with silver.

The Pichette Project has excellent road access and infrastructure being located immediately south of the Trans-Canada Highway. The project is underlain by an east-west trending panel of Archean-aged metavolcanic and metasedimentary rocks intruded by gabbros and latter porphyries. Metamorphism and tectonics have in most cases upgraded the tenor of gold mineralization in the belt between Beardmore and Geraldton.

In addition to the surface sampling Riverside completed a geological interpretation of the project to evaluate the timing and relationships of structural events and gold mineralization. As at the Greenstone Mine gold mineralization largely occurred in the first deformational events and was later remobilized or deformed by subsequent deformational events. The Greenstone Gold Mine has been studied by many experts and a complicated evolution of events has been documented as is common in Archean gold belts. The Greenstone Gold Mine will produce over 200,000 ounces of gold per year beginning this year.

“Riverside is very excited to have found high grade gold on surface at the PAT Veins. While the veins are mostly covered by the forest organics, the banded iron formations associated with the veins and mineralized shears are easy to locate using the magnetic survey completed in 2022. The BIF unit extends across the project outlining a multi-kilometer” states Riverside’s President and CEO, John-Mark Staude.

Figure 1: Location of the Pichette Project within the Beardmore-Geraldton Greenstone Belt.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_003full.jpg

This fall the Company completed a structural analysis of the geology and timing of mineralization at Pichette in order provide some context of the structures within the property and how they relate to the evolution of larger greenstone belt and nearby past producers and known gold occurrences. This analysis interprets the first phase of deformation resulted in folding of the Banded Iron Formations and north-south shortening of intrusions with most of the vein mineralization occurring during a second sinistral shearing event. These rocks were again subjected to a third dextral shearing event which resulted in some remobilization in metals.

Table 1: Selected prospecting samples from Riverside most recent field programs.

Sample #Au ppbSample typeComments
11922861,500grabCherty, Banded Iron Formation, weakly magnetic
1192287200grabRusty orange, quartz vein, with <1% pyrite in fractures
P2023-113,400chipRusty, quartz carbonate vein striking east-west, 1m continuous sampling across
P2023-213chipIron oxide-stained quartz vein material in road cut
47270321,900chip1.75m shear zone with rusty quartz-carbonate veins striking at 070, dipping at 80 N
47270422chipMetasediments, shear zone, 1.5m continuous sampling across.
47270522chipNarrow Quartz-carbonate vein, 12cm wide, no sulfides, following the structure
472706553chipFine grained Metaseds, sheared, siliceous, west of the 13 g/t sample

Figure 2: Riverside bedrock sampling sites from recent site visits on Aeromagnetic map.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_004full.jpg

On surface the mineralized zone consists of sugary and banded quartz with massive pyrrhotite and lesser arsenopyrite and pyrite with chlorite The average width of the altered and mineralized zone is 30m consisting primarily of pyritized and silicified mafic metavolcanics and BIF. Historical drill logs suggest a sharp contact between geological units that include mafic metavolcanics, metasediments, gabbros and quartz porphyries.

Gold is commonly enriched in intensely altered rocks adjacent to or within quartz-carbonate veins and veinlets as is found in orogenic deposits. Several of the historical drill logs document high grade intercepts similar to those documented at the Leitch Gold Mine to the west at Beardmore.

The alteration comprises a sequence of well fractured greenstone containing occasional small stringers of hard, reddish, siliceous material, with slight pyritization. The rock changes northward into a light green or tanned rock described in logs as “carbonate”. On surface more siliceous phases are noted with hard, black cherty material often found with the quartz veins. Moving further away from the zone a sericitic phase dominates.

Figure 3: Riverside Surface samples in relation to mineralized zones as defined by historical drilling.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/199836_14c8ecfa84682bac_007full.jpg

Rock samples from the exploration program discussed above at Pichette were driven from site to Activation Laboratories in Thunder Bay for analysis. Analysis was completed using total digestion and Multi-Element Analysis (40 element) via Inductively Coupled Plasma Atomic Emission Spectrometry and fire assay for gold. The QA/QC program implemented as part of the sampling procedures included inserting one standard and one blank inserted by Riverside every 20 batch of samples. Activation Laboratories is an ISO/IEC accredited laboratory.

Bonus Share Issuance:

On January 17, 2024, the Company issued 335,000 common shares to certain individuals in recognition of their contribution to the Company over the past year. The shares were issued pursuant to the Company’s shareholder-approved bonus share plan and are subject to the policies of the TSX Venture Exchange and will include a hold period expiring May 18th 2024.

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199836

Categories
Base Metals Energy Junior Mining Project Generators Uncategorized

Canadian GoldCamps to Earn 50% of Murphy Lake for $10M Exploration Spend

Kelowna, British Columbia–(Newsfile Corp. – February 20, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company“) is pleased to announce that it has entered into a non-binding Letter of Intent (“LOI”) with Canadian GoldCamps Corp. (“Canadian GoldCamps“) wherein Canadian GoldCamps will enter into a definitive option agreement with F3’s newly incorporated wholly-owned subsidiary F4 Uranium Corp. (“F4”). The staged option will allow Canadian Goldcamps to earn up to a 70% interest in the Murphy Lake Property (the “Property”) in the Athabasca Basin, Saskatchewan. The Property is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano’s McLean Lake deposits, 5 km south of ISOEnergy’s Hurricane Uranium Deposit and covers approximately 6.1 square kilometers of land.

Dev Randhawa, CEO of F3 and incoming Executive Chairman of F4 commented:

“With this transaction, we have immediately demonstrated the successful unlocking of value within F4’s portfolio of fourteen Athabasca Basin projects. The partnership highlights the prospectivity of the Murphy Lake property with Canadian GoldCamps sole-funding exploration for three years, minimizing share dilution to F4 shareholders. F4 will be the operator during the earn-in period utilizing the management and technical team responsible for three major uranium discoveries in the Athabasca Basin. Through this LOI, F4 will receive cash (up to $1.4 million, with $600,000 in the first year) and shares (9.9% ownership in Canadian Goldcamps post financing), and benefit from up to $18 million in work expenditures. This transaction exemplifies F4’s approach of maximizing our opportunities through the use property options, joint ventures and directly funded exploration.”

Initial 50% interest in the Property:

  1. Cash payable:
  1. $100,000 within 7 calendar days of signing the LOI
  2. $200,000 upon entering into of a definitive agreement.
  3. $150,000 on or before the six-month anniversary of the definitive agreement
  4. $150,000 on or before the 12-month anniversary of the definitive agreement
  5. $150,000 on or before the 18-month anniversary of the definitive agreement
  6. $150,000 on or before the 24-month anniversary of the definitive agreement
  7. Canadian GoldCamps common shares:
  8. following the next equity financing of Canadian GoldCamps (for gross proceeds of not less than $6 million), 9.9% of the issued and outstanding common shares of Canadian GoldCamps will be issued to F4.
  9. Property expenditures:
  1. $5M on or before the 1-year anniversary of the signing of the definitive agreement
  2. $5M on or before the 2-year anniversary of the signing of the definitive agreement

Additional 20% Interest in the Property for a total of 70%:

  1. Cash payable:
  1. $250,000 on or before the 30-month anniversary of the definitive agreement
  2. $250,000 on or before the 36-month anniversary of the definitive agreement
  3. Property expenditures:
  4. $8M on or before the 3-year anniversary of the signing of the definitive agreement

Net Smelter Returns Royalty (“NSR Royalty”):

  1. The percentage of a 2% NSR Royalty to F4 equal to Canadian GoldCamps percentage interest in the Property.

About the Murphy Lake Property

F4’s 609-hectare Murphy Lake Project is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano’s McLean Lake deposits, 5 km south of ISOEnergy’s Hurricane Uranium Deposit, and 4 km east of Cameco’s La Rocque Lake Uranium Zone where drill hole Q22-040 intersected 27.9% U O over 7.0 m.

The maiden drill program at Murphy Lake was concluded in late September of 2022, and consisted of 14 completed drillholes totaling 6,850m. The scintillometer results from hole ML22-006 intersected up to 2,300 cps (see NR August 10, 2022), which resulted in assay results of 0.065% U3O8 over 2.5m from 322.5m to 324.5m, including 0.242% U3O8 over 0.5m on the E1 EM conductor. Unconformity associated, basement hosted uranium mineralization was encountered along a strike length of 330m on the E1 conductor between ML22-011 and ML22-013 (See Assay Results Map below) and was associated with graphitic and sulphide rich shear zones in an area overlain by approximately 260m of Athabasca Sandstone.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the Company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp:

F3 Uranium is advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 properties across the Athabasca Basin including the Murphy Lake Property. F3 has initiated steps to spin-out by way of a plan of arrangement 14 of its prospective properties, including Murphy Lake, into the newly incorporated wholly-owned subsidiary F4 Uranium Corp. (“F4”). The PLN Property along with the Broach (which includes the PW claims) and Minto Properties (collectively, the “PLN Project”) will remain with F3. F3 will transfer the remaining 14 properties to F4 in exchange for F4 shares that will be distributed to F3 shareholders (see NR dated Jan 16, 2024). There will be no change in shareholder holdings of F3 as a result of the plan of arrangement.

Contact Information

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

See plan map below and additional plan maps and cross sections at PLN JR Zone|F3 Uranium Corp. under “Sections”



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/198452_75037859940e9a3b_002full.jpg

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, the intention to spin out the Properties; the creation of F4; the Arrangement, including timing thereof; the transfer of the Properties and the distribution of shares pursuant to the Arrangement; the intention to list the shares of F4 on the TSXV; F3’s proposed strategic investment into F4; the Arrangement being subject to court, TSXV and shareholder approvals; the preparation and delivery of a management information circular setting forth details of the Arrangement; the completion of the Spin-Out and the Listing; the potential benefits to shareholders and other matters relating to the Arrangement. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198452

Categories
Base Metals Energy Junior Mining Project Generators

University of Wyoming Break-Through Geophysics Pinpoints Roll Front Targets at Agate

Kelowna, British Columbia–(Newsfile Corp. – February 20, 2024) – Strathmore Plus Uranium Corporation (TSXV: SUU) (OTC: SUUFF) (“Strathmore” or “the Company“) is pleased to update the results of the on-going geophysical study completed by the University of Wyoming (UW) at the Agate project. The UW’s research will give Strathmore specific targets for their 200-hole drilling program this spring and provide opportunities to locate roll fronts, the “noses” of which are anticipated to host thicker intervals and higher grades of mineralization. Agate is envisaged as an ISR project located in the Shirley Basin Uranium District in Wyoming.

Sam Hartmann, P. Geo., Strathmore’s technical advisor commented:
“Strathmore is successfully demonstrating the viability of using the unique approach of ground geophysics in a roll front environment, with resistivity emerging as a tool to potentially map alteration systems associated with mineralization. If we can continue to identify these typically sinuous roll front bodies on a larger scale as demonstrated with this case study, it stands to provide discrete targeting for the upcoming spring drill program. The current resistivity inversion in profile represents first order targeting on section and will complement our ongoing efforts to digitize and incorporate the significant amount of historical drill hole data by Kerr-McGee into the property model.”

The research by Dr. Bradley Carr, Director of UW’s Near-surface Geophysical Center (UWNSG), consists of ground and borehole geophysics applied across the project to detect and image a uranium roll front and possibly monitor the movement of the roll front’s position during future in-situ mining development. Strathmore looks forward to working with Dr. Carr to provide potential targets for the 2024 exploration season based on the geophysical study completed in 2023 and UW’s more extensive research study slated for 2024.

Dr. Carr reported:
“Since early 2023, the University of Wyoming’s Dept. of Geology and Geophysics (G&G) was funded by the State of Wyoming and the UW School of Energy Resources to conduct research into geophysical characterization tools of sedimentary deposits of uranium. In this project, Dr. Carr and two UW G&G graduate students partnered with Strathmore Plus Uranium to study the shallow, near-surface uranium roll front at their Agate Prospect in Wyoming’s Shirley Basin. The goal is to study and determine which geophysical tools provide the best delineation methods for sedimentary uranium roll fronts which are found within the sedimentary geologic layers in Wyoming, Colorado, New Mexico, Texas, and Utah.

The preliminary results of the study illustrate how a combined geophysical method study including both surface and borehole geophysical methods highlight the roll front location, unaltered areas ahead of the roll front, and altered areas behind the roll front. In this research, the borehole and surface geophysical methods include seismic reflection, seismic refraction, DC resistivity (ERT), Induced Polarization (IP), Electromagnetics (TEM), Self-Potential (SP), and Nuclear Magnetic Resonance (NMR).

In traditional uranium exploration and characterization, radiometric surveys followed by drilling and borehole gamma logging are the standard approaches. Although fine, additional geophysical methods can provide more detail on the location, quantity and background groundwater condition allowing more advanced extractive planning and engineering prior to production.

To date in this geophysical study for sedimentary uranium deposits, we have collected preliminary surface data for TEM, ERT and IP, SP, and borehole datasets of Spectral Gamma, Normal resistivity/IP/SP, and NMR. The methodology utilized in 2023 during the preliminary phase of this research is displayed in Figure 1 below. In 2024, we will continue to collect additional TEM, seismic reflection/refraction, and ERT/IP profiles at the site to further delineate the geophysical response of the uranium roll front and potential channel sand where it is hosted. 2023 data analyses (e.g., ERT in Figure 2) and field planning for summer 2024 is continuing currently. Additionally, we will collect NMR datasets to study the mobile groundwater and porosity/permeability state of the target sands. Finally, we will collect and analyze ‘full-waveform’ Induced Polarization (IP) data to determine how viable IP is for identifying not only the location of the active roll-front but if it can tell us about the material state in-front (unreacted) and behind (reacted) parts of the system surrounding the active roll-front. We are encouraged about the use of IP data generally from preliminary, traditional IP surface and borehole data collected in 2023. However, the addition of ‘full waveform’ analyses of the IP decay should provide even greater insights into the in-situ state of the uranium roll front which will hopefully aid development and production planning.”

Figure 1. Preliminary geophysical data acquisition during 2023 at the Strathmore Plus Uranium – Agate Site in Shirley Basin, WY. Pre-drilling geophysical research tests: Red line represents an ERT profile (Line 1). White dots represent TEM sounding locations centered on planned drill locations.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/3282/198437_dd2d5511f437ba1d_002full.jpg

Figure 2. Inverted Resistivity Profile from A-A’. ERT data from 2023 at the Agate Site. Resistors (red/yellow) colors represent the sandstone interval hosting the uranium roll front deposit. AG-16-23 is interpreted to be near the nose of the uranium roll front. ERT assists with identifying the roll front sand unit but gives less direct information about the chemical reactivity of the redox condition at the roll-front. This research is encouraged by initial Induced Polarization (IP) testing near and within these boreholes to provide information about the chemical reactivity of the roll front.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/3282/198437_dd2d5511f437ba1d_003full.jpg

Strathmore Plus Uranium Corp. Strathmore has three uranium projects with approved exploration plans in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

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

Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198437

Categories
Base Metals Energy Junior Mining Project Generators

F3 Hits 66.8% U3O8 over 0.5m within 42.4% over 2.0m at JR

Kelowna, British Columbia–(Newsfile Corp. – February 12, 2024) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce final assay results from the fall 2023 drill program, including PLN23-110 (see NR dated December 18, 2023) which returned 2.0m of 42.4% U3O8 from 226.0m to 228.0m, including 1.5m averaging 55.4% U3O8 with a highest grade of 66.8% U3O8 in a single 0.5m sample. PLN23-112, drilled from line 060S returned 11.5m averaging 2.00% U3O8 from 229.0m to 240.5m including 3.5m averaging 4.24% U3O8.

Sam Hartmann, VP Exploration, commented:

“PLN23-110 returned ultra-high grade assays, including the highest assay to date – 66.8% U3O8 on section 015S, which remains open in the up-dip direction. At the B1 area, where we initially targeted the B1 EM conductor, significant alteration in sandstone and basement rocks was encountered (see NR dated December 18, 2023) and we are pleased to receive final geochemistry supporting our decision to drill a wide fence with 4 drill holes across approximately 250m of geology. Anomalous basement uranium values were intersected, notably in PLN23-105 with up to 137 ppm uranium; values of greater than 100 ppm uranium have previously only been encountered in PLN14-019 and immediately surrounding holes, as well as within the JR Zone itself.”

The Company is also pleased to announce that it has completed a technical report for its Patterson Lake North (PLN) Project, including the PLN, Broach and Minto properties, pursuant to National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”). The report was completed by lead consultant SLR International Corporation (“SLR”) with an effective date of November 20, 2023, prepared for F3 Uranium Corp. and dated January 25, 2024. The report will be filed on SEDAR within 45 days.

Assay Highlight:

PLN23-110 (line 015S): mineralized intervals

  • 2.5m @ 0.23% U3O8 (217.0m to 219.5m), and
  • 2.0m @ 42.4% U3O8 (226.0m to 228.0m), including
  • 1.5m @ 55.4% U3O8 (226.0m to 227.5m), further including
  • 0.5m @ 66.8% U3O8 (227.0m to 227.5m)

Main JR Zone Intercepts:

PLN23-101 (line 015S): mineralized intervals

  • 11.5m @ 0.39% U3O8 (218.5m to 230.5m), including
  • 1.5m @ 1.77% U3O8 (222.5m to 224.0m), and
  • 1.5m @ 2.64% U3O8 (227.5m to 229.0m)

PLN23-106 (line 120S): mineralized interval

  • 0.5m @ 0.07% U3O8 (240.5m to 241.0m)

PLN23-108 (line 030S): mineralized intervals

  • 0.5m @ 0.24% U3O8 (256.5m to 257.0m), and
  • 0.5m @ 0.67% U3O8 (260.5m to 261.0m)

PLN23-109 (line 015S): mineralized interval

  • 2.5m @ 0.33% U3O8 (221.0m to 223.5m)

PLN23-112 (line 060S): mineralized intervals

  • 8.0m @ 1.03% U3O8 (229.0m to 237.0m), including
    0.5m @ 13.2% U3O8 (232.0m to 232.5m), and
  • 3.5m @ 4.24% U3O8 (237.0m to 240.5m), including
  • 0.5m @ 20.0% U3O8 (238.0m to 238.5m)

PLN23-114 (line 030S): mineralized intervals

  • 3.0m @ 0.05% U3O8 (219.5m to 222.5m), and
  • 1.5m @ 0.64% U3O8 (230.5m to 232.0m), and
  • 0.5m @ 0.11% U3O8 (235.5m to 236.0m)

Exploration Drilling Highlights:

PLN23-102 (line 3450S), B1 Area:

  • 0.5m @ 79 ppm uranium (411.5m to 412.0m) in basement

PLN23-105 (line 3450S), B1 Area:

  • 7.5m @ 48 ppm uranium (528.5m to 535.0m) in basement, including
  • 0.5m @ 137 ppm uranium (531.5m to 532.0m)

PLN23-111 (line 3450S), B1 Area:

  • 3.5m @ 1,198 ppm boron (357.5m to 361.0m) in sandstone, including
  • 0.5m @ 2,770 ppm boron (357.5m to 358.0m)

Table 1. Drill Hole Summary and Uranium Assay Results

Collar InformationAssay Results
Hole IDGrid
Line
EastingNorthingElevationAzDipFrom
(m)
To
(m)
Interval
(m)
U3O8 weight
%
PLN23-101015S587732.56410748.2545.354.6-64.9218.50222.504.000.22
       222.50224.001.501.77
       224.00227.503.500.28
       227.50229.001.502.64
       229.00230.001.000.26
PLN23-1023450S589712.26407939.1540.053.1-65.6B1 exploration; no mineralization >0.05
PLN23-103045S587780.76410746.1545.754.5-60.3no mineralization >0.05
PLN23-104105S587729.06410634.5545.254.4-60.6no mineralization >0.05
PLN23-1053450S589764.96407978.1540.453.3-65.0B1 exploration; no mineralization >0.05
PLN23-106120S587761.46410639.4544.454.3-64.1240.50241.000.500.07
PLN23-1073450S589673.76407913.1539.955.0-65.2B1 exploration; no mineralization >0.05
PLN23-108030S587682.16410692.8545.153.6-60.3256.50257.000.500.24
       260.50261.000.500.67
PLN23-109015S587739.06410762.5545.554.7-74.9221.00223.502.500.33
PLN23-110015S587733.46410749.2545.553.3-61.8217.00219.502.500.23
       226.00228.002.0042.4
      incl226.00227.501.5055.4
PLN23-1113240S589638.66408148.6535.555.2-65.2B1 exploration; no mineralization >0.05
PLN23-112060S587748.76410702.1545.753.3-65.5229.00232.003.000.33
       232.00232.500.5013.2
       232.50237.004.500.14
       237.00240.503.504.24
      incl238.00238.500.5020.0
       244.50245.000.500.05
PLN23-113930S588352.96410068.3532.952.8-65.0A1 exploration; no mineralization >0.05
PLN23-114030S587736.86410733.3545.554.8-58.1219.50222.503.000.05
       230.50232.001.500.64
       235.50236.000.500.11
PLN23-1152955S589548.16408433.1530.842.9-67.9B1 exploration; no mineralization >0.05

Assay composite parameters:

  1. Minimum Thickness of 0.5 m
  2. Assay Grade Cut-Off: 0.05% U3O8 (weight %)
  3. Maximum Internal Dilution: 2.0 m

Composited weight % U3O8 mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.

All depth measurements reported are down-hole and true thickness are yet to be determined.

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

Forward Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

See plan maps below and cross sections at PLN JR Zone| F3 Uranium Corp. under Sections.



Figure 1 – Patterson Lake North Fall 2023 Drill Program Update: Assay Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/197577_f8732418c479aa79_003full.jpg



Figure 2 – Patterson Lake North Fall 2023 Drill Program Update: JR Zone Assay Results

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Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Commencement of Normal Course Issuer Bid

Vancouver, British Columbia, February 7, 2024 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) — EMX Royalty Corporation (the “Company” or “EMX”) is pleased to announce that it has received approval from the TSX Venture Exchange (“TSXV”) of its Notice of Intention to Make a Normal Course Issuer Bid (the “NCIB”).

Under the NCIB, the Company may purchase for cancellation up to 5,000,000 common shares (the “Shares”) (representing approximately 4.45% of its issued and outstanding Shares, being 112,234,040 Shares, as of January 24, 2024) over a twelve-month period commencing on February 13, 2024. The NCIB will expire no later than February 12, 2025.

EMX believes that from time to time, the market price of its Shares may not reflect their underlying value and that the purchase of its Shares will enhance shareholder value and increase liquidity of the Shares. The Company intends to fund the purchases out of available cash.

All purchases made pursuant to the NCIB will be made through the facilities of the TSXV, NYSE American Stock Exchange (“NYSE American”), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. The NCIB will be made in accordance with the applicable rules and policies of the TSXV, NYSE American and applicable Canadian and United States securities laws. The price that EMX will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that are purchased under the NCIB will be cancelled. The actual number of Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. The Company is not obligated to purchase any particular number of Shares under the NCIB and the NCIB may be modified or suspended at the Company’s discretion.

EMX has appointed National Bank Financial Inc. to make purchases under the NCIB on its own behalf.

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 TSXV and the NYSE American 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 the policies of the TSX Venture Exchange) accepts responsibility of 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 EMX’s proposed normal course issuer bid and the timing, number and price of Shares that may be purchased under the normal course issuer bid, 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 the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2023 (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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov

Categories
Base Metals Energy Junior Mining Project Generators

F3 Hits 2.05m Off Scale >65,535 CPS in First Hole of Winter Program at JR Zone

Kelowna, British Columbia–(Newsfile Corp. – January 30, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company“) is pleased to announce initial scintillometer results from the first completed drill hole of the current winter drill program on the Patterson Lake North (“PLN”) Property, which includes two high-grade intercepts. Drill hole PLN24-116 tested for mineralization between PLN23-061 (see NR dated May 15, 2023) and PLN23-074 (see NR dated November 13, 2023) on section line 075S and intersected mineralization within a 16.5m interval including 2.05m of off scale radioactivity (>65,535 cps), 1.80m of which is continuousA thin, lower mineralized zone up to 23,600 cps starting at 272.00m was also intersected and marks the first intersection of strong radioactivity below the JR Zone.

A second diamond drill has also begun coring on the JR Zone before moving approximately 3km grid south to start exploration in the B1 area where drill holes from last year provided strongly encouraging results including significant alteration, structures and highly anomalous geochemistry.

As the Dias 3D resistivity survey is days away from being completed, preparations are underway at site for the next phase of ground geophysics. A stepwise moving loop time domain electromagnetics (SWML) survey totaling approximately 60 line-km will be conducted over the B1 area, with ideal loop size parameters to properly resolve the basement hosted B1 conductor. This new survey will update and refine the Company’s electromagnetic plate model, which will then be integrated with the resistivity data to provide additional drill targets.

Drilling Highlight:

PLN24-116 (line 075S):

  • 16.5m mineralization from 224.0m – 240.5m, including
    • 6.05m composite high-grade radioactivity (> 10,000 cps) between 224.85 and 232.40m, including
    • 2.05 composite off-scale radioactivity (> 65,535 cps) between 227.00 and 231.25m, and
    • 0.5m mineralization from 272.00m – 272.5m with up to 23,600 cps

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information* Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum)Athabasca Unconformity Depth (m)Total Drillhole Depth (m)
Hole IDSection LineEastingNorthingElevationAzDipFrom
(m)
To
(m)
Interval (m)Max CPS
PLN24-116075S587757.96410697.1546.054.6-64.9224.00224.500.503100196.0311
       224.50224.850.354200  
       224.85225.000.1514600  
       225.00225.500.504600  
       225.50226.000.5024100  
       226.00226.500.5020200  
       226.50227.000.5022200  
       227.00227.500.50>65535  
       227.50228.000.50>65535  
       228.00228.500.50>65535  
       228.50228.800.30>65535  
       228.80229.000.2063500  
       229.00229.500.5037800  
       229.50230.000.503000  
       230.00230.500.508600  
       230.50231.000.5051800  
       231.00231.250.25>65535  
       231.25231.500.2561000  
       231.50232.000.5058700  
       232.00232.400.4031200  
       232.40232.500.104100  
       232.50233.000.502500  
       233.00233.500.505800  
       233.50234.000.501800  
       234.00234.500.50530  
       234.50235.000.50450  
       235.00235.500.50310  
       235.50236.000.501100  
       236.00236.500.5690  
       236.50237.000.5500  
       237.00238.501.5<300  
       238.50239.000.5670  
       239.00239.500.5<300  
       239.50240.000.5300  
       240.00240.500.5350  
       272.00272.250.2523600  
       272.25272.500.252900  

Handheld spectrometer composite parameters:

1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp:

F3 Uranium is advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.

Contact Information

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

See cross section at PLN JR Zone|F3 Uranium Corp. under “Sections”

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, the intention to spin out the Properties; the creation of F4; the Arrangement, including timing thereof; the transfer of the Properties and the distribution of shares pursuant to the Arrangement; the intention to list the shares of F4 on the TSXV; F3’s proposed strategic investment into F4; the Arrangement being subject to court, TSXV and shareholder approvals; the preparation and delivery of a management information circular setting forth details of the Arrangement; the completion of the Spin-Out and the Listing; the potential benefits to shareholders and other matters relating to the Arrangement. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196151