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Elemental Altus and EMX to Merge to Create New Mid-Tier Gold Focused Royalty Company Elemental Royalty Corp.

Vancouver, British Columbia–(Newsfile Corp. – September 4, 2025) – Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (“Elemental Altus“) and EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (“EMX“, and together with Elemental Altus, the “Companies“) are pleased to announce that the Companies have entered into a definitive arrangement agreement dated September 4, 2025 (the “Arrangement Agreement“) whereby Elemental Altus will acquire all of the issued and outstanding common shares of EMX (the “EMX Shares“) pursuant to a court-approved plan of arrangement (the “Transaction“). The Merged Company (the “Merged Company“) will continue under the new name Elemental Royalty Corp.

Concurrently with and in support of the Transaction, Tether Investments S.A. de C.V. (“Tether“) and Elemental Altus have entered into a subscription agreement dated September 4, 2025 (the “Tether Subscription Agreement“) pursuant to which, among other things, Tether has agreed to purchase approximately 75 million Elemental Altus Shares at a price of C$1.84 per share for aggregate gross proceeds of US$1001 million (the “Tether Concurrent Financing“).

The Merged Company will have 16 producing royalties contributing to a projected approximate adjusted revenue2 of US$80 million in 2026, positioning the Merged Company as a new mid-tier streaming and royalty company.

Transaction Highlights and Strategic Rationale:

  • Top Quality, Globally Diversified Portfolio:
    • Creation of peer-leading revenue generating royalty company: combined revenue guidance of US$70 million in 2025 and analyst consensus revenue of US$80 million in 20263, underpinned by strong growth visibility;
    • Gold focused portfolio: adjusted revenue relating to a commodity split of 67% precious metals and 33% base metals on a latest quarter revenue basis providing exposure to record gold prices;
    • Strengthened asset portfolio: anchored by four cornerstone royalties with world-class operators;
    • Enhanced portfolio diversification: exposure to 16 paying royalties and 200 total royalties providing a balanced foundation of immediate cash flow and long-term upside;
  • Meaningful scale:
    • Larger, well capitalized entity: with lower cost of capital, positioned to pursue further accretive royalty opportunities in the market;
    • Graduating to the mid-tier: materially higher combined revenue than the junior royalty companies, filling a gap in the market left by recent industry consolidation;
    • Increased trading liquidity: combined trading liquidity and expected indexation demand to help close valuation gap with peers;
  • Poised for Future Growth:
    • Complementary management expertise: unites Elemental Altus’ proven track record of accretive royalty acquisitions with EMX’s disciplined royalty generation and acquisition capabilities to create a best-in-class leadership team;
    • Royalty generation business: a unique differentiator offering low cost, organic growth;
    • Demonstrated shareholder support: Certain shareholders of EMX (including management) who hold approximately 23% of the outstanding EMX Shares have entered into voting support agreements and the Tether Concurrent Financing emphasizes strong confidence in the strategy and long-term vision of the Merged Company, and provides significant financial capacity to the Merged Company; and
    • Clear path forward: the Merged Company will be listed on the TSX Venture Exchange (“TSX-V“) under the ticker “ELE” with plans to pursue a US listing prior to the closing of the Transaction.

Elemental Altus and EMX will hold a joint conference call and webcast for investors and analysts on September 5, 2025, at 8am PT/11 am ET to discuss the Transaction. Details are provided at the end of this press release.

Frederick Bell, CEO of Elemental Altus, commented:
“This transaction establishes one of the world’s premier gold focused emerging streaming and royalty companies, bringing together two complementary portfolios in a compelling combination. Elemental Altus’ portfolio, with a strategic emphasis on royalty acquisition, and with more than 75% of revenue associated with gold producing mines, is complemented by EMX’s revenue generating portfolio paired with their royalty generation business. The combination of two business that have each delivered over 17% compound annual growth rates in share price since their inception creates an enlarged company that is exceptionally well-placed to continue to grow in an accretive manner for shareholders. The support from Tether in the form of a US$100 million placement as well as the existing cashflow generation, provides the ability to pursue further valuable growth through acquisitions of the best opportunities in the sector. Both Elemental Altus’ and EMX’s shareholders will benefit from our cornerstone assets, greater scale, diversification, growth profile and trading liquidity.”

David Cole, CEO of EMX, commented:
“The merger of Elemental Altus and EMX represents a superb opportunity to combine two royalty companies with accelerating revenue streams and a shared mindset of financial discipline in the pursuit of growth. The ethos of EMX from the founding of the company has been to expose shareholders to the ever increasing value of mineral rights around the world. We believe that growing a diverse portfolio of royalties is the most effective way to accomplish this goal. Royalties are phenomenal financial instruments that leverage commodity price exposure and the asymmetric upside of exploration success. The integration of EMX and Elemental’s portfolios are expected to greatly enhance shareholder value through increased liquidity, capital availability and importantly, discovery optionality across an expanded portfolio.”

Juan Sartori, Executive Chairman of Elemental Altus, commented:
“Tether’s recent investment in Elemental Altus was based on its strategy of increasing gold exposure. We believed Elemental Altus was the ideal vehicle to execute on this strategy due to the company’s strong foundation of assets and disciplined approach to investments. We are even more excited about the Merged Company’s future following the combination with EMX, creating a platform for growth that is unmatched in the junior royalty space and allowing us to accelerate into the mid-tier royalty space. The Merged Company will have the cashflow generation and expertise to deploy capital on royalties and streams that continue to add value for all shareholders.”

Concurrently with the Transaction, Elemental Altus will complete the previously-approved consolidation of all of the issued and outstanding common shares of Elemental Altus (the “Elemental Altus Shares“) at a ratio of one (1) post-consolidation Elemental Altus Share for every 10 pre-consolidation Elemental Altus Shares (the “Consolidation“). Additional details of the timing for the Consolidation will be provided by Elemental Altus in a subsequent press release.

Under the terms of the Arrangement Agreement, shareholders of EMX will receive (a) 0.2822 Elemental Altus Shares for each EMX Share held immediately prior to the effective time of the Transaction (the “Effective Time“) if the Consolidation is completed prior to the Effective Time; or (b) 2.822 Elemental Altus Shares for each EMX Share, if the Consolidation is not completed prior to the Effective Time (the “Consideration“). Upon completion of the Transaction, including the Tether Concurrent Financing, existing Elemental Altus shareholders and former EMX shareholders will own approximately 51% and 49% of the outstanding common shares of the Merged Company, respectively, on a fully diluted basis. The implied market capitalization of the Merged Company is estimated at US$933m4.

Benefits for EMX Shareholders

  • Immediate upfront premium to near all-time high closing share price of 21.5% based on 20-day volume-weighted average prices and 9.8% based on spot prices5
  • Accretive to near term cash flow per share
  • Offers material ownership in combined larger cash flowing company with near term cash contributions from Elemental Altus’ portfolio
  • Diversification to Tier-1 Australian gold producing and near-producing assets
  • Exposure to gold focused royalty revenue from cornerstone assets, including Karlawinda
  • Optionality through Elemental Altus’ development royalty portfolio
  • Continued financial support of Tether for further acquisitions

Benefits for Elemental Altus Shareholders

  • Immediately accretive to net asset value (NAV) on a per share basis6
  • Provides exposure to unique long-life Timok royalty
  • Triples ownership of flagship Caserones royalty
  • Diversifies risk profile adding cornerstone assets in North America, South America and Europe
  • Combination with high-quality technical team will improve deal sourcing and organic origination of new royalties for low cost
  • Enhanced trading liquidity and capital markets exposure through size and planned US listing, providing access to new investors including index inclusion

Transaction Details

Pursuant to the terms and conditions of the Arrangement Agreement, EMX shareholders will receive (a) 0.2822 Elemental Altus Shares for each EMX Share held immediately prior to the Effective Time if the Consolidation is completed prior to the Effective Time; or (b) 2.822 Elemental Altus Shares for each EMX Share, if the Consolidation is not completed prior to the Effective Time as the Consideration.

The Consideration implies a premium of 9.8% based on the closing prices of the Elemental Altus Shares and EMX Shares, respectively, on the TSX-V on September 4, 2025, and a premium of 21.5% based on the 20-day volume-weighted average price of the Elemental Altus Shares and EMX Shares, respectively, on the TSX-V and US Exchanges as of September 4, 2025. The Consideration implies a total equity value for EMX of US$4567 million on a basic basis.

The Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The Transaction will require the approval of at least (i) 66 2/3% of the votes cast at a special meeting of shareholders of EMX (the “EMX Special Meeting“); and (ii) if, and to the extent, required under applicable Canadian securities laws, a majority of the votes cast at a the EMX Special Meeting, excluding the votes attached to EMX Shares held by persons required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holder in Special Transactions (“MI 61-101“).

Upon completion of the Transaction, including the Tether Concurrent Financing, existing Elemental Altus and former EMX shareholders are expected to own approximately 51% and 49% of the Merged Company, respectively, on a basic basis.

Certain officers and directors and shareholders of EMX who hold approximately 23% of the outstanding EMX Shares have entered into voting support agreements pursuant to which they have agreed, among other things, to vote their EMX Shares in favour of the Transaction.

Upon completion of the Transaction, the Merged Company will be renamed Elemental Royalty Corp. and remain headquartered in Vancouver, British Columbia. The Board of Directors will be comprised of three representatives from Elemental Altus and two representatives from EMX. Juan Sartori will continue as Executive Chairman and David Cole will serve as CEO of the Merged Company, while Frederick Bell will assume the role of President and COO.

In addition to approval of the EMX shareholders, completion of the Transaction is subject to approval of the Elemental Altus shareholders for the Tether Concurrent Financing (as described below), TSX-V, regulatory and court approvals and other customary closing conditions for Transactions of this nature. Further, the completion of the Transaction is subject to the conditional approval of the listing of the Elemental Altus Shares on a US stock exchange and the completion of the Tether Concurrent Financing. Any such US listing of the common shares of the Merged Company is subject to the Merged Company meeting the quantitative and qualitative requirements to list on a US stock exchange. The Arrangement Agreement includes customary deal protection provisions, including reciprocal non-solicitation and right to match provisions, and an approximately C$15.8 million termination fee, payable under certain circumstances.

None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act or other available exemptions and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The full details of the Transaction will be described in the Companies’ respective management information circulars to be prepared in accordance with applicable securities legislation and made available in connection with the special meetings.

Tether Concurrent Financing

Concurrently with and in support of the Transaction, Elemental Altus has entered into the Tether Subscription Agreement, pursuant to which, among other things, Elemental Altus and Tether have agreed to complete the Tether Concurrent Financing. Proceeds from the Tether Concurrent Financing will be used to repay EMX’s credit facility, fund royalty acquisitions (including to pay the purchase price for Elemental Altus’ two recently announced royalty acquisitions, or to repay its credit facility to the extent drawn for that purpose) and provide capital for the Merged Company so that it is fully unlevered post-completion.

Tether is an insider and control person of the Company, and therefore the Tether Concurrent Financing constitutes a related party transaction as defined under MI 61‐101. The shareholders of Elemental Altus must approve each of (a) the Tether Concurrent Financing pursuant to the requirements of MI 61-101 (the “Elemental Altus Financing Resolution“), (b) Tether as a “Control Person” of Elemental Altus pursuant to policies of the TSX-V (the “Elemental Altus Control Person Resolution“); and (c) the change of Elemental Altus’ name to Elemental Royalty Corp. (the “Elemental Altus Name Change Resolution” and collectively, the “Elemental Altus Resolutions“).

The Elemental Altus Financing Resolution will require the approval of at least a simple majority of the votes cast at a special meeting of shareholders of Elemental Altus (the “Elemental Altus Special Meeting“), excluding the votes attached to Elemental Altus Shares held by Tether and any other persons required to be excluded pursuant to MI 61-101. The Elemental Altus Control Person Resolution will require the approval of at least a simple majority of the votes cast at the Elemental Altus Special Meeting, excluding votes attached to Elemental Altus Shares held by the Tether and its associates and affiliates. The formal valuation requirement under MI 61-101 does not apply to the Tether Concurrent Financing as Elemental Altus has relied on the exemption therefrom contained at section 5.5(b) of MI 61-101.

Certain officers and directors and shareholders of Elemental Altus who hold approximately 40% of the outstanding Elemental Altus Shares have entered into voting support agreements pursuant to which they have agreed, among other things, to vote their Elemental Altus Shares in favour of the Elemental Altus Resolutions.

The Tether Concurrent Financing is conditional on the approval of the Transaction at the EMX Special Meeting. The Tether Concurrent Financing is also subject to approval of the TSX-V, including Elemental Altus fulfilling the requirements of the TSX-V. The Elemental Altus Shares issued under the Tether Concurrent Financing will be subject to a four month and one day hold period, pursuant to securities laws in Canada, and have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable securities laws of any state of the United States and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Elemental Altus, nor shall there be any offer or sale of any securities of Elemental Altus in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The Tether Concurrent Financing will close concurrently with the closing of the Transaction, and such concurrent closing is a condition to the completion of closing the Transaction.

The full details of the Tether Concurrent Financing will be described in Elemental Altus’ management information circular to be prepared in accordance with applicable securities legislation and made available in connection with the special meeting.

The Elemental Altus Name Change Resolution will require the approval of at least 66 2/3% of the votes cast at the Elemental Altus Special Meeting. The Elemental Altus Name Change Resolution is not a condition to close the Transaction.

Timing

Subject to receiving the requisite court, regulatory and shareholder approvals as described above, the Transaction and the Tether Concurrent Financing are expected to close in the fourth quarter of 2025. In connection with and subject to closing of the Transaction and the Tether Concurrent Financing, it is expected that the EMX Shares will be delisted from the TSX-V and NYSE American, and that EMX will cease to be a reporting issuer under Canadian and U.S. securities laws.

Board of Directors Recommendations

The Board of Directors of Elemental Altus has unanimously approved the Transaction and (subject to the abstention of any conflicted director) the Tether Concurrent Financing and recommends that the shareholders of Elemental Altus vote in favour of the Elemental Altus Resolutions.

The Board of Directors of EMX (subject to the abstention of any conflicted director) and a special committee comprised solely of independent directors of EMX (the “EMX Special Committee“) have each unanimously determined that the Transaction is in the best interests of EMX and have approved the Transaction and recommend that the shareholders of EMX vote in favour of the Transaction.

Financial Advisors and Legal Counsel

National Bank Financial is acting as financial advisor to Elemental Altus. Fasken Martineau DuMoulin LLP is acting as legal advisor to Elemental Altus. Greenberg Traurig, LLP is acting as U.S. legal counsel to Elemental Altus. Bennett Jones LLP is acting as legal advisor to Tether.

GenCap Mining Advisory Ltd. has provided a fairness opinion to the Elemental Altus Board of Directors, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the Consideration to be paid is fair, from a financial point of view, to Elemental Altus shareholders excluding Tether.

CIBC World Markets Inc. is acting as financial advisor to EMX. CIBC World Markets Inc. has provided a fairness opinion to the EMX Board of Directors, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the Consideration under the Transaction is fair, from a financial point of view, to the shareholders of EMX.

Haywood Securities Inc. is acting as financial advisor to the EMX Special Committee. Haywood Securities Inc. has provided a fairness opinion to the EMX Special Committee, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the Consideration to be received is fair, from a financial point of view, to the shareholders of EMX.

Cassels Brock & Blackwell LLP is acting as Canadian legal advisor to EMX. Crowell & Moring LLP is acting as U.S. legal advisor to EMX. Blake, Cassels & Graydon LLP is acting as legal advisor to the EMX Special Committee.

Conference Call and Webcast

Elemental Altus and EMX will hold a joint conference call and webcast for investors and analysts on September 5, 2025, at 8am PT/11 am ET to discuss the Transaction. Questions can be asked through a chat function.

Participants may join using the webcast link:

The webcast will be archived on both the Elemental Altus and EMX websites until the Transaction closes.

On Behalf of Elemental Altus,
Frederick Bell
CEO

Corporate & Media Inquiries:
Tel: +1 604 646 4527
info@elementalaltus.com
www.elementalaltus.com

TSX-V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109

On Behalf of EMX,
David Cole
CEO

For further information, contact:

David M. Cole
President and CEO
Phone: (303) 973-8585 Dave@EMXroyalty.com		Stefan Wenger
Chief Financial Officer
Phone: (303) 973-8585 SWenger@EMXroyalty.com		Isabel Belger
Investor Relations
Phone: +49 178 4909039 IBelger@EMXroyalty.com

About Elemental Altus

Elemental Altus is an income generating precious metals royalty company with 10 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties. The vision of Elemental Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile. The Elemental Altus Shares are listed on the TSX-V and OTCXQ under the symbol “ELE” and “ELEMF”, respectively. Please see www.elementalaltus.com for more information.

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 EMX Shares are listed on the NYSE American Exchange and TSX-V under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

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

Cautionary note regarding forward-looking statements

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, (collectively, “forward-looking statements”) that reflect the Companies’ current expectations and projections about their future results. These forward-looking statements may include statements regarding guidance and long-term outlook, including future revenue, which are based on public forecasts and other disclosure by the third-party owners and operators of our assets or on the ‘Elemental Altus’ or EMX’s assessments thereof, including certain estimates based on such information; expectations regarding financial strength, trading liquidity, and capital markets profile of the Merged Company; the completion of the Tether Concurrent Financing; the completion of the Transaction and the timing thereof; the realization of synergies and expected premiums in connection with the Transaction, the identification of future accretive opportunities, permitting requirements and timelines; the value the Transaction will add for shareholders of the Companies; the future price of the common shares of the Merged Company; the receipt of required approvals for the Transaction and the Tether Concurrent Financing; the completion of the name change of Elemental Altus; the completion of the Consolidation and the timing thereof; the benefits of the Transaction to shareholders of Elemental Altus; the benefits of the Transaction to shareholders of EMX; the availability of the exemption under Section 3(a)(10) of the U.S. Securities Act to the securities issuable pursuant to the Transaction; the listing of the Merged Company on a US stock exchange and the timing thereof; the timing and amount of estimated future royalty guidance; and the future price of gold. 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 that no material disruption to production at any of the mineral properties in which the Companies’ have a royalty or other interest; that the Companies will receive all required approvals for the Transaction and the Tether Concurrent Financing in a timely manner; that synergies are realizable as between the Companies; estimated capital costs, operating costs, production and economic returns; estimated metal pricing; metallurgy, mineability, marketability and operating and capital costs; the expected ability of any of the properties in which the Companies hold a royalty, or other interest to develop adequate infrastructure at a reasonable cost; assumptions that all necessary permits and governmental approvals will remain in effect or be obtained as required to operate, develop or explore the various properties in which the Companies hold an interest; and the activities on any on the properties in which the Companies hold 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 obtain any required regulatory and shareholder approvals with respect to the Transaction and the Tether Concurrent Financing; the inability to satisfy the conditions to closing the Transaction and the Tether Concurrent Financing; the inability to satisfy the listing requirements to be listed on a US stock exchange; volatility in the price of gold or other minerals or metals, discrepancies between anticipated and actual production with respect to portfolio assets; the accuracy of the mineral reserves, mineral resources and recoveries set out in the technical data published by the owners of portfolio assets; the absence of control over mining operations from which the Companies receive royalties, 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, activities by governmental authorities (including changes in taxation); currency fluctuations; the global economic climate; dilution; share price volatility and competition.

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 Companies 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 Companies will 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 (A) the Elemental Altus’ Annual Information Form dated August 18, 2025, filed under the Elemental Altus’ profile on SEDAR+ at www.sedarplus.ca; and (B) the EMX risk factors listed in EMX’s Management’s Discussion and Analysis for the six months ended June 30, 2025 and its Annual Information Form dated March 12, 2025 filed under EMX’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Although the Companies have attempted to identify important factors that could cause actual results to differ materially from those Companies 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 Companies do not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.

Cautionary Statements to U.S. Securityholders

The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles (“US GAAP”) in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP.

This press release and the documents incorporated by reference herein, as applicable, have been prepared in accordance with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current standards of the United States securities laws. In particular, and without limiting the generality of the foregoing, the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “inferred mineral resources,”, “indicated mineral resources,” “measured mineral resources” and “mineral resources” used or referenced herein and the documents incorporated by reference herein, as applicable, are Canadian mineral disclosure terms as defined in accordance with Canadian National Instrument 43-101 — Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Definition Standards”).

The definitions of these terms, and other mining terms and disclosures, differ from the definitions of such terms, if any, for purposes of the United States Securities and Exchange Commission (“SEC”) disclosure rules for domestic United States Issuers (the “SEC Rules”), including the requirements of the SEC in Regulation S-K Subpart 1300 under the United States Securities Exchange Act of 1934, as amended. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, EMX is not required to provide disclosure on its mineral properties under the SEC Rules and provides disclosure under NI 43-101 and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information and other technical information contained or incorporated by reference herein or documents incorporated by reference may not be comparable to similar information disclosed by United States companies subject to the SEC’s reporting and disclosure requirements for domestic United States issuers. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Under Canadian rules, estimates of inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them to enable them to be categorized as mineral reserves and, accordingly, may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a preliminary economic assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable. In addition, United States investors are cautioned not to assume that any part or all of the EMX’s measured, indicated or inferred mineral resources constitute or will be converted into mineral reserves or are or will be economically or legally mineable.

The Elemental Altus shares to be issued to EMX shareholders pursuant to the Transaction have not been or will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and such securities are anticipated to be issued in reliance upon the exemption from such registration requirements provided by Section 3(a)(10) of the U.S. Securities Act and similar exemptions under applicable U.S. state securities laws.

Non-IFRS Measures

Adjusted Revenue
Adjusted revenue is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental Altus’ and EMX’s effective royalty on the Caserones copper mine. Management uses adjusted revenue to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS such as revenue, investors may use adjusted revenue to evaluate the results of the underlying business, particularly as the adjusted revenue may not typically be included in operating results. Management believes that adjusted revenue is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company’s core operating results from period to period. Adjusted revenue is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. It does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.

1 Exchange rate of C$1.00 = US$0.7231 (the “Exchange Rate“), being the indicative exchange rate for Canadian dollars in terms of the United States dollar, as quoted by the Bank of Canada on September 4, 2025.
2 Adjusted revenue is a non-IFRS measure. Please refer to the “Non-IFRS Measures” section of this press release and Elemental Altus’ discussion of non-IFRS performance measures in its Management’s Discussion and Analysis for the quarter ended June 30, 2025
3 Based on figures (i) with respect to EMX from National Bank Financial Inc. and as of August 12, 2025, and (ii) with respect to Elemental Altus from each of Raymond James Ltd. And National Bank Financial Inc. as of August 19, 2025 and from Canaccord Genuity Corp. as of May 26, 2025.
4 Assuming approximately 629.4 million outstanding common shares of the Merged Company on the completion of the Transaction and the Tether Concurrent Financing, and based on the closing price of the Elemental Altus Shares on September 4. 2025 of C$2.05 per share, converted to US$ at the Exchange Rate
5 As at September 4, 2025
6 Average of available consensus NAV estimates as of September 4, 2025.
7 Assuming approximately 108.9 million outstanding EMX Shares as of the Effective Time and based on the closing price of the Elemental Shares on September 4. 2025 of C$2.05 per share, converted to US$ at the Exchange Rate.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265192

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

Scout Discoveries Executes US $30.0 Million Earn-In Agreement with Centerra Gold for the Lehman Butte Epithermal Au-Ag Project, Idaho

Key Take-AwaysCenterra can earn up to 70% of the Lehman Butte project by investing US $30.0 million over eight (8) years in two stages, with committed US $2.0 million in expenditures within the first two (2) years.Scout will be operator with its internal teams at cost plus 20%; the Lehman Butte project is drill-ready with permits in hand.This agreement is the crystallization of Scout’s vertically integrated approach, which allows the Company to be paid to advance its own projects using in-house drill rigs and geologic team.Coeur d’Alene, Idaho – August 27, 2025 – Scout Discoveries Corp. (“Scout” or the “Company”) is pleased to announce the execution of a definitive agreement with Centerra Gold Inc. (“Centerra”). Under this agreement, Centerra has the right to earn up to a 70% interest in Scout’s Lehman Butte epithermal Au-Ag project (the “Project”), located in Custer County, Idaho, through a two-stage Earn-In structure, summarized below and in Table 1. All amounts referenced are in U.S. dollars.Earn-In Agreement HighlightsExecution Payment:Centerra will pay Scout $75,800 (2025 BLM Claim fees and underlying royalty) within thirty (30) business days following execution of the Agreement (August 8, 2025).Initial Stage 1 Earn-In Option: Centerra may earn an initial 51% interest in the Project by incurring a minimum of $15.0 million in qualifying work expenditures over the initial five (5) year period (the “First Option”), which includes:Funding of $500,000 and $1.5 million (a total of $2.0 million) in exploration expenditures on or before each of the first and second anniversaries of the agreement, respectively, as a firm commitment.An additional $13.0 million in qualifying exploration expenditures must be funded by the fifth anniversary of the agreement, bringing the total to $15.0 million.During the First Option, Scout will continue as the exploration and drilling operator for the Project, operating at cost plus 20% for the first $10.0 million and cost plus 15% thereafter.Centerra and Scout will each elect two representatives to a technical steering committee, which will meet quarterly to review budgets and monitor exploration progress.If Centerra does not complete the expenditure requirements of the First Option within five (5) years, 100% ownership of the project will revert back to Scout.Stage 2 Earn-In Option: Subject to Centerra having exercised the First Option, Centerra shall retain the sole right and option to earn an additional 19% ownership interest in the Project, for a total aggregate of 70% ownership interest (the “Second Option”), by:Sole-funding an additional $15.0 million in qualifying work expenditures over a three (3) year period following the First Option.Centerra has the option to assume operatorship of the Project and pay Scout a 10% fee on all expenditures or continue with Scout as operator at cost plus 20% for the first $10.0 million spent under the Section Option and cost plus 15% thereafter.Continued Advancement, Dilution of Ownership:To ensure the project continues to advance if either party elects to do so,following the completion of either the First Option or in the Second Option, if no exploration or development program is undertaken by Centerra within twelve (12) months, Scout maintains the right to propose such a program.If Centerra declines to fund the program, Scout may elect to fund it independently, and Centerra’s ownership will be diluted on a pro rata basis.If either party’s interest drops below 10%, its interest will be converted to a 2% NSR royalty, with 1% buyable upon commencement of commercial production at the net present value (5% discount rate) as defined by the feasibility study.Either party may convert its interest to a 2% NSR royalty at any time during the agreement or joint venture.
Table 1: Structure of Earn-In Agreement
Curtis Johnson, Scout’s President and CEO commented, “This agreement with Centerra is the core of our business model. We generate the project, advance it through drill targeting, then partner with a strong group to aggressively drill the targets while staying directly engaged as operator through our vertically integrated platform. By drilling with our internal rigs and leveraging our geologic team, we move faster, drill more meters per dollar for ourselves and partners, and keep momentum and positive cash flow working for shareholders. This is a sustainable exploration model that will allow Scout to test more targets to overcome the low odds of making a tier one discovery.”
About the Lehman Butte ProjectThe Lehman Butte project, located in central Idaho (Figure 1), features extensive low-sulfidation epithermal veining and quartz-clay-adularia alteration within intermediate volcanic rocks, as well as jasperoid replacement in underlying Mississippian limestone. Exploration by the Scout team, during their tenure at EMX Royalty Corp. and with prior partners, has outlined a cohesive 1.5 x 3 km gold-in-soil anomaly. Rock chip samples have returned values up to 3.1 g/t Au and 19.8 g/t Ag (n=214, avg. 0.145 g/t Au and 4.8 g/t Ag). These results indicate bulk-tonnage style mineralization, centered around a zone of banded quartz-adularia feeder veins up to 2.5 m wide, mapped across 3 km of strike. Coincident magnetic, chargeability, and resistivity anomalies support the targets identified through surface sampling and mapping. The project is permitted for drilling, with primary targets including a bulk-tonnage Au-Ag deposit hosted in volcanics, as well as high-grade bonanza-style epithermal veins at depth.


Figure 1: Lehman Butte Epithermal Au-Ag Project Area Showing Surface Geochemistry
Next Steps – Work ProgramIn fall 2025, the Scout team will collaborate with Centerra to design and execute an advanced-stage exploration program, funded by Centerra. This will include additional geologic mapping, surface rock sampling, soil sampling, and drone magnetics across the southern portion of the land position that has not yet been covered by these methods. These efforts will lead to a planned Phase I core drilling program in spring-summer 2026, targeting up to 5,000 meters within the primary target zone as outlined in Figure 2.
Figure 2: Lehman Butte Bulk Tonnage and High-Grade Low Sulfidation Epithermal Au-Ag Target Area
Execution of Additional Drilling ContractIn addition to the above, Scout has executed an all-in-drilling contract with Mammoth Minerals Limited to carry out an initial 1,500-meter core drilling program in Nevada, including core drilling, rig management, core logging and cutting, as well as TerraCore hyperspectral imaging. The Company has used funds from the advance payment for this program to acquire its fifth surface core drilling rig; an excellent condition, used Boart Longyear track-mounted LF-70.
Our Discovery‑to‑Partnership ModelDiscovery generator + vertical integration: Scout’s strategy combines the breadth of a prospect generator with the execution discipline of a major mining company. We advance projects internally, from mapping and geophysics through internal core drilling, with these costs offset by external contracts, then partner when scale and capital intensity increase on the project, preserving upside and accelerating timelines (Figure 3).Lower cost, more meters, aligned structure: Because we manage the full exploration stack in‑house (including drilling), we can reduce exploration costs by ~50–75% versus third‑party contractors. That efficiency lets us drill more meters per dollar and iterate targets faster, supporting rapid decision‑making across the portfolio. This structure is fully aligned with partners earning in on our projects, as Scout’s primary goal is to maximize exploration work done per dollar.Maintaining momentum through partnerships: When a project reaches the right inflection point, we partner with strong groups, such as Centerra at Lehman Butte, to scale work programs while staying directly engaged as operator. Under the Option Agreement, Scout is the initial Project Planner and Operator, enabling continuity of planning, permitting, and drilling cadence as capital ramps, and helping keep momentum squarely on advancing the asset.
Figure 3: Scout Discoveries, Discovery-to-Partnership, Vertically Integrated Business Model
About Centerra Gold Inc.Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange under the symbol CG and on the New York Stock Exchange under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
About Scout Discoveries Corp.Scout Discoveries Corp., headquartered in Coeur d’Alene, Idaho, is a private U.S. mineral exploration company with rights to twelve separate precious and base metal projects in the western U.S.A., comprising one of the largest unpatented claim holdings in the region, totaling over 50,000 acres. Scout’s vision is to bring the full discovery process in-house from idea generation through resource drilling, lowering costs and increasing efficiency. With this model, the Company can rapidly advance its project portfolio through discovery by leveraging its five internal core drill rigs and experienced technical teams. For further information visit: https://www.scoutdiscoveries.com/
Forward-looking StatementsCertain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to those risks set out in the Company’s public documents filed on EDGAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators Uncategorized

EMX Sells its Moroccan Portfolio and Forms Exploration Alliance with Avesoro

Dear Friend and Investor,

We’re pleased to share that EMX has sold its Moroccan portfolio and entered into a strategic exploration alliance with Avesoro Holdings. This partnership allows EMX to retain long-term upside through royalties, while Avesoro fully funds the advancement of projects in one of North Africa’s most prospective mineral regions.

Here is the link to the German Translation: 
EMX-NR Morocco Alliance-Ff-FINAL (clean)_DE.pdf
Please feel free to reach out if you have any questions.

NEWS RELEASE

EMX Sells its Moroccan Portfolio and Forms Exploration Alliance with Avesoro

Vancouver, British Columbia, July 8, 2025 (NYSE American: EMX; TSX Venture: EMX) – EMX Royalty Corporation (“EMX”) is pleased to announce the execution of an exploration alliance agreement (the “Agreement”) in the country of Morocco with Avesoro Morocco LTD (“Avesoro”), a wholly owned subsidiary of Avesoro Holdings LTD, a privately owned, West Africa-focused mid-tier gold producer. The Effective date of the Agreement is March 19, 2025, and key conditions precedent for closing have now been completed. Avesoro Holdings, through its subsidiaries, operates gold mines in the country of Liberia and is looking to expand its operations elsewhere in the region. As such, Avesoro brings high levels of operational and exploration experience in western Africa to the alliance. In Morocco, EMX and Avesoro will work together to advance a portfolio of exploration projects that EMX has assembled and to cooperatively explore for new opportunities. 

Avesoro will fully fund the alliance activities, which will include the advancement of certain projects in the EMX Moroccan portfolio, as well as new projects identified by the alliance for acquisition. Under the Agreement, Avesoro will acquire EMX’s operating entity in Morocco (“EMX Corp Morocco”, a wholly owned subsidiary of EMX) that currently domiciles EMX’s exploration projects and its Moroccan exploration staff. Projects slated for advancement under the alliance will be initially designated as Alliance Exploration Projects (“AEP’s”). These will be funded from an annual budget agreed upon by Avesoro and EMX. Once a project reaches an appropriate stage of advancement, it can be converted to a Designated Project (“DP”) and advanced from an independent pool of funding provided by Avesoro. 

The initial term of the alliance will be two years but can be extended by mutual agreement. At the end of the alliance term, any AEP’s that have not become DP’s will revert to EMX. 

Strategic rationale. The sale of EMX’s Moroccan business unit is the latest example of efficient execution of our Royalty Generation business.  The exploration alliance with Avesoro will perpetuate EMX’s upside royalty exposure across a large portfolio of exploration assets in a highly prospective region, while reducing ongoing operational expenses. 

Commercial Terms Overview. (all terms in USD)

Alliance stage:

  • Avesoro has made an execution payment to EMX of $650,000.
  • Avesoro will provide an initial pool of capital of at least $1.5 million/year to advance the alliance projects and to make new acquisitions within the country of Morocco. The initial term of the alliance will be two years.
  • Avesoro has agreed to provide the necessary funding to keep the projects in good standing during the term of the alliance.
  • At any time, Avesoro can elect to deem any of the projects a Designated Project (DP).
  • Any project that has not been converted to a DP by the end of the alliance term will be returned to EMX.

Designated project stage:

  • Avesoro will retain a 100% ownership in each of the DPs, with EMX retaining a 2% NSR royalty that is uncapped and cannot be repurchased or reduced. 
  • Each DP will have a minimum $2,500,000 work commitment for the first five years and each DP will be funded from an independent pool of capital. 
  • Commencing on the first anniversary of the nomination of the first DP, EMX will receive a $50,000 advance royalty payment, escalating by 15% per year until the advance royalty payment reaches $100,000. 
  • EMX will also receive additional advance royalty payments for each subsequent project for which a positive feasibility study is delivered. These will begin at $50,000, escalating by 15% per year until the project reaches production or the advance royalty payment reaches $100,000.
  • EMX will also receive milestone payments of $500,000 for each project for which a feasibility study is delivered, and $1,000,000 for each project that reaches production.

Overview of EMX’s Moroccan Portfolio. EMX has been active in Morocco since 2021, conducting reconnaissance exploration programs that have resulted in the acquisition of 18 exploration projects in Morocco, comprising 860 square kilometers (see Figure 1). These include a combination of gold, copper and other base metal projects that are strategically located in several of Morocco’s key mineral belts, with three projects in the highly underexplored Moroccan Sahara region, 14 projects in the well-endowed Anti-Atlas belt, home to several of Morocco’s most significant mineral deposits, and one project in the High-Atlas belt.

Morocco is emerging as an attractive jurisdiction for mineral exploration and mineral resource development, benefiting from a stable regulatory framework, well-developed infrastructure, and highly prospective geological settings. The country hosts significant precious and base metal mines yet remains underexplored compared to other mining regions. 

In advance of signing the Alliance, EMX and Avesoro have agreed upon extensive follow-up programs to continue to advance the projects. Nine of the existing EMX projects will be designated as AEP’s at the onset of alliance activities.

More information on the Projects can be found at www.EMXroyalty.com.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

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.

About Avesoro. Avesoro Resources Inc. is a leading West Africa-focused, privately owned mid-tier gold producer. Deeply committed to sustainable and responsible mining practices, Avesoro strives to create a diverse and inclusive workforce that adheres to strict environmental, social, and governance standards. Avesoro is recognized for its exceptional technical expertise and broad commercial and financial capabilities that span exploration, engineering, construction, and mine operations. Please see www.avesoro.com for more information.

For further information contact:

David M. ColePresident and CEOPhone: (303) 973-8585Dave@EMXroyalty.comStefan WengerChief Financial OfficerPhone: (303) 973-8585SWenger@EMXroyalty.comIsabel BelgerInvestor Relations  Phone: +49 178 4909039IBelger@EMXroyalty.com

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this 

news release or as of the date otherwise specifically indicated herein.  Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2025 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2024, 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.

Figure 1: location map for EMX exploration projects in Morocco

Kind regards,

Isabel Belger

Investor Relations Manager

Email: ibelger@emxroyalty.com

Mobile: +49 178 4909039

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Energy Junior Mining Lion One Metals Precious Metals Uncategorized

Lion One Announces Construction of Flotation Circuit at Tuvatu Gold Mine in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – March 20, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to announce the start of engineering and construction of the flotation circuit at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

The Tuvatu gold mine is currently operating at the 300 TPD pilot plant level. The Company plans to double plant design capacity to 600 TPD with the expansion occurring in stages. The first stage of expansion is the addition of a flotation circuit that includes a regrind mill for processing flotation concentrate to approximately P80 20 microns prior to feeding the pre-treatment and CIL circuits.

Metallurgical testing conducted by the Lion One metallurgical lab in Fiji indicates that the addition of a flotation circuit will increase gold recoveries at Tuvatu by up to 10%. Gold recoveries at Tuvatu currently average between 80-83%. With a flotation circuit in place gold recoveries are anticipated to increase to over 90%.

Engineering of the concrete foundations of the flotation circuit has completed and construction preparation has begun. The steel and flotation plant equipment has also been ordered. Construction is anticipated to be complete in Q4 CY2025.

Lion One Chairman and President Walter Berukoff stated: “Construction of the flotation circuit is a priority for Lion One. Upon completion of construction the flotation circuit will provide immediate payback for the Company by increasing recoveries to over 90%. This is a significant increase in gold recoveries and further enhances the economics of the project.”

Competent Person’s Statement

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & President

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or 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 labor 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 Junior Mining Uncategorized

Ken Griffin, Amazon Invest in Next-Generation Nuclear Energy

(Bloomberg) — Amazon.com Inc. and billionaire financier Ken Griffin are among the backers anchoring a $500 million investment in small nuclear reactors, a burgeoning technology heralded as the next era for atomic energy.

Most Read from Bloomberg

The Seattle-based company has signed agreements to develop the new breed of reactors — dubbed small modular reactors, or SMRs — in both Washington and Virginia, investing in in X-Energy, a privately-held advanced nuclear reactor developer.

The financing will help pay for the development of more than 5 gigawatts of new power projects coming online across the US by 2039, X-Energy said in a statement Wednesday.

F3 Uranium, Proven and Probable

“It’s going to allow us to build smaller, self-contained power generation near data centers, near where we want in a completely safe and scalable way,” Matt Garman, chief executive officer of Amazon Web Services, said during remarks at the company’s offices in Arlington, Virginia.

Amazon’s announcement comes as technology companies are searching for new energy supplies to power massive data centers needed to run artificial intelligence systems. Alphabet Inc.’s Google announced Monday it was backing the nuclear power and signed an agreement with Kairos Power to construct a series of SMRs that use molten-salt cooling technology.

Data center expansion and other factors are expected to drive electricity demand up 15% to 20% over the next decade, according to the US Energy Department. Data centers could consume as much as 9% of the nation’s electricity generation annually by 2030, up from 4% in 2023, according to a report in May by the nonprofit Electric Power Research Institute.

Strathmore Plus Uranium, Proven and Probable

Amazon has also signed agreements with Washington State-based utility Energy Northwest and Virginia’s Dominion Energy, Inc. to develop SMR projects. Amazon said the reactors — which will be constructed, owned and operated by Energy Northwest — were expected to generate roughly 320 megawatts, with the option to expand to 960 megawatts total.

In Virginia, Amazon said it had signed an agreement with Dominion to explore the development of an SMR project at the utility’s existing North Anna nuclear power station that could bring at least 300 megawatts of power to the region.

Unlike traditional nuclear reactors, which are enormous facilities that take years to build, SMRs can be built at factories, delivered by truck or train, and then assembled on-site, saving time and money. Utilities can install just one or bundle several together, expanding the potential market by including countries that don’t need a big conventional nuclear plant.

Still, the technology hasn’t yet been deployed at scale, commercially.

And SMR’s have their critics, including those who say the economics of nuclear power is flawed no matter what the size of the reactors. NuScale Power Corp. announced in November it was canceling plans to build a series of SMRs in Utah amid surging costs.

Meanwhile, surging demand for power is prompting utilities to build more natural gas-fired plants, undermining lofty environmental goals for both the industry and tech firms.

“Artificial intelligence may be new, but claims that the next revolutionary nuclear technology will solve our energy problems have been around since we first split the atom,” Johanna Neumann, an official with Environment America, said in a statement. “It’s time for Big Tech to recommit to solutions that work and pose less risk to our environment and health, including making data centers as energy efficient as possible and committing them to be powered by new renewable energy sources.”

(Adds comment from Amazon executive in fourth paragraph)

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

Original Source: https://finance.yahoo.com/news/ken-griffin-amazon-invest-next-125000817.html

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Junior Mining Precious Metals Uncategorized

Why gold is outperforming nearly everything so far this year

Gold futures (GC=F) have been surfing record highs, with Monday’s prices hitting $2,555.2 per ounce, sending the value of a 400 troy ounce gold bar to $1,022,080.

The yellow metal has forged meteoric gains this year, emerging as the world’s second-best-performing asset next to crypto. Its 23% year-to-date gain edges out the megacap-loaded Nasdaq Composite (^IXIC) — itself up a healthy 18%. (A proxy for the crypto market writ large, the Bitwise 10 Crypto Index Fund (BITW), is up 47% this year.)

According to BofA Global Research, gold funds just absorbed the largest inflows in four weeks, attracting $1.1 billion. Yet, the broader trend has actually seen $2.5 billion in outflows year to date, suggesting that underlying strength is coming from outside traditional fund flows.

Central banks — especially those of developing countries — have been buying the barbarous relic at a record clip. According to the World Gold Council, central banks have purchased 290 tonnes in the first quarter alone, beating out the prior Q1 record from 2023 and setting CBs on a path to record gold purchases in 2024 that are estimated to easily eclipse 1,000 tonnes.

“Not only is the long-standing trend in central bank gold buying firmly intact, it also continues to be dominated by banks from emerging markets,” wrote the Gold Council.

In that regard, Turkey tops the buy list this year with 30 tonnes purchased in the first quarter — lifting its gold reserves to 570 tonnes. China bought 27 tonnes in Q1, making it the 17th consecutive quarter of purchases and also bringing its holdings to 2,262 tonnes. Other notable purchasers include India, Kazakhstan, the Czech Republic, Oman, and Singapore.

The central bank buying spree has solidified gold’s status as a reserve asset. According to BofA, gold has now surpassed the euro to become the world’s largest reserve asset second only to the US dollar, representing 16% of the reserve pool.

The precious metal’s performance can be attributed to its unique position as a real asset with one of the lowest correlations to stocks across asset classes, making it a safe haven from market swings and inflation.

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According to Tom Bruni, head of market research at StockTwits, in a recent episode of Stocks in Translation, “We’re seeing gold being used as an uncertainty hedge.”

Bruni also emphasized gold’s appeal to traders due to its price action. “With gold breaking out above its 2011 highs, it’s drawing significant attention from trend followers and technical analysts alike.”

Investors looking for deep, liquid gold markets have a robust choice of futures markets, ETFs, and gold miner stocks and ETFs, which tend to be even more volatile than the underlying metal.

“The volatility in gold prices has made it a prime trading vehicle, whether through gold ETFs or mining stocks,” said Bruni.

BofA separately highlighted how this latest gold rally isn’t like the other advances this century, offering a tantalizing glimpse of future bullish potential.

The bank noted this is the third major gold advance in two decades, yet “households have missed this rally.” The first two rallies — from 2004 to 2011, and from 2015 to 2020 — attracted big fund flows into gold ETFs. But over the last year, gold bullion and gold miner ETFs have shed $6.4 billion in assets, according to Bloomberg data and Yahoo Finance calculations.

But if last week’s large gold inflows were to gain momentum, that trend could signal a perfect storm of retail, institutional, and central bank gold buying is brewing. Why?

Bruni said it best: “Gold is kind of one of these things that operates on vibes.”

Original Source: https://finance.yahoo.com/news/why-gold-is-outperforming-nearly-everything-so-far-this-year-100022695.html?.tsrc=fin-notif

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Base Metals Energy Junior Mining Uncategorized

F3 Uranium and F4 Uranium Announce Completion of Arrangement

Kelowna, British Columbia–(Newsfile Corp. – August 16, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3“) and F4 Uranium Corp. (“F4“) are pleased to announce that they have completed the previously announced plan of arrangement under the Canada Business Corporations Act (the “Arrangement“), effective as at 12:01 a.m. (Vancouver time) on August 15, 2024 (the “Effective Date“). F3 obtained a final order from the Supreme Court of British Columbia dated August 13, 2024 approving the Arrangement. The Arrangement was previously approved by shareholders of F3 at a special meeting on August 8, 2024.

Pursuant to the Arrangement, the holders of common shares of F3 were entitled to receive at the Effective Date, in exchange for each common share of F3 held at the close of business the day before the Effective Date (i) one new common share of F3; and (ii) one-tenth of a F4 share. All outstanding options, warrants and restricted share units of F3 were adjusted in accordance with the terms of the plan of arrangement as set forth in greater detail in F3’s management information circular dated June 28, 2024.

About F3 Uranium Corp.:

F3 is a uranium exploration company advancing its newly discovered high-grade JR Zone and exploring for additional mineralized zones on its 100%-owned Patterson Lake North (PLN) Project in the southwest Athabasca Basin. PLN is accessed by Provincial Highway 955, which transects the project, and the new JR Zone discovery is located ~25km northwest of Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits. This area is poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN project is comprised of the PLN, Minto and Broach properties. The Broach property incorporates the PW property which F3 obtained from CanAlaska as the result of a property swap.

About F4 Uranium Corp.:

F4 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 discoveries. F4 Uranium currently has 17 projects in the Athabasca Basin, several of which are near large uranium discoveries including Triple R, Arrow and Hurricane. F4 has entered into option agreements on several of the properties which call for the incoming parties to make cash payments and issue shares to F4 as well as to incur exploration expenditures on the properties in which they have been granted the option to earn an interest.

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, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of F3 and F4 based on information currently available to them. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by F3 and F4 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 F3 and F4 undertake 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 has not reviewed, approved or disapproved the contents of this news release, and does not accept responsibility for the adequacy or accuracy of this news release.

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

F4 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: info@f4uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
F3 Uranium Corp.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220180View comments

Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Grizzly Announces Closing of Initial Tranche of Private Placement

Edmonton, Alberta–(Newsfile Corp. – July 31, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces that it has closed on an initial tranche of the private placement (the “Offering”) of Units and Flow-Through Units originally announced on June 20, 2024 and extended on July 19, 2024.

The Company issued a total of 6,157,668 Units and 700,000 FT Units, each at a price of $0.03, for aggregate gross proceeds of $205,730.

Each Unit consists of one common share of the Company (“Common Share”) and one non-transferrable common share purchase warrant (“Warrant”) entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance. Each Flow-Through Unit consists of one Common Share and one half of one Warrant, each of which shall be issued as a “flow through share” for the purposes of the Income Tax Act (Canada). The Offering is being offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.

The proceeds of $184,730 from the sale of Units in this tranche are intended to be used for general working capital and corporate overhead, including the payment of management fees to officers of the Company, and the proceeds of $21,000 from the sale of FT Units will be reserved for mineral property exploration.

No commissions or finder’s fees were paid with respect to this tranche of the Offering.

The Offering remains open, with 10,509,000 Units and 16,966,668 FT Units remaining under the maximum Offering, until August 18, 2024.

The Offering is subject to final approval from the TSX Venture Exchange.

ABOUT GRIZZLY DISCOVERIES INC.

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

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

Caution concerning forward-looking information

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218450View Comments

Categories
Base Metals Energy Junior Mining Uncategorized

Strathmore Triples Length of Mineralized Trend at Agate

Kelowna, British Columbia–(Newsfile Corp. – July 9, 2024) – Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) (“Strathmore” or “the Company“) is pleased to announce it has extended the mineralization from the Phase 1 drilling for the 2024 exploration season at the Agate project in Wyoming. The Company completed 100 exploration holes across the project area, resulting in the extension of the Lower sand’s northern trend to 3,700 feet in length.

Highlights for the drilling along this trend included holes:

*AG-175-24 (7.5 feet of 0.128% eU3O8 from 103.5-110.0 feet)
*AG-200-24 (15 feet of 0.116% eU3O8 from 82.5-97.5 feet).
*AG-162-24 (16 feet of 0.067% eU3O8 from 87.5-103.5 feet)

In addition, five piezometer wells were completed for groundwater testing and five holes were prepared for core recovery this summer.

Phase 1 of the 2024 drilling explored the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity and permeability, and high groundwater transmissivity. In addition to continued exploration of the Lower sand, the recent drilling discovered shallow mineralization within the overlying Middle sand, which is thicker than the Lower sand, and historically produced most of the uranium in the Shirley Basin district.

Dev Randhawa, CEO commented:

The BOD and I, along with our new Director, Mr. Marion Loomis, and technical advisors Ray Ashley and Sam Hartmann, toured both our Agate and Beaver Rim properties on June 26 & 27th.

We are excited to see the higher-grade intercepts as we move further SW. at Agate. The drill results are validating our prediction of the Wyoming roll front model as applied to our Agate property. With continued exploration by our field team and geophysical modeling by the University of Wyoming personnel, I expect Strathmore to further define the east side of the mineralized tongue at Agate and move towards a draft ISR resource assessment.

Agate Exploration:

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3282/215737_ae406299f46f3955_002full.jpg

Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-101-2442.30469(106.29538)12080.586.05.50.0170.094
AG-102-2442.30502(106.29534)12084.598.013.50.0260.351
AG-103-2442.30474(106.29495)12074.582.58.00.0350.280
AG-104-2442.30447(106.29533)10081.087.06.00.0190.114
AG-105-2442.30500(106.29573)12086.598.512.00.0140.168
AG-106-2442.30472(106.29573)10079.083.04.00.0370.148
86.589.02.50.0460.115
AG-107-2442.30446(106.29579)12080.583.53.00.0340.102
88.592.54.00.0440.176
AG-108-2442.30529(106.29531)12088.090.02.00.0230.046
AG-109-2442.30558(106.29533)12084.587.02.50.0310.078
89.599.510.00.0320.320
AG-110-2442.30531(106.29493)12082.592.510.00.0190.190
AG-111-2442.30477(106.29610)12083.092.09.00.0260.231
AG-112-2442.30505(106.29608)12081.585.03.50.0230.081
AG-113-2442.30505(106.29493)12083.093.010.00.0220.219
AG-114-2442.30528(106.29573)12084.595.511.00.0140.154
AG-115-2442.30566(106.29493)12088.089.51.50.0310.047
AG-116-2442.30561(106.29456)12083.087.54.50.0270.122
AG-117-2442.30590(106.29494)12075.087.512.50.0150.188
AG-118-2442.30589(106.29459)12087.0100.513.50.0240.324
AG-119-2442.30553(106.29558)12087.5105.518.00.0330.594
AG-120-2442.30293(106.29702)140BARREN
AG-121-2442.30318(106.29700)120BARREN
AG-122-2442.30346(106.29699)12089.594.55.00.0220.110
AG-123-2442.30322(106.29739)14090.092.02.00.0240.048
94.0101.07.00.0140.098
AG-124-2442.30349(106.29736)14090.095.05.00.0170.085
AG-125-2442.30373(106.29697)12091.094.03.00.0270.081
AG-126-2442.30319(106.29662)12084.088.54.50.0190.086
AG-127-2442.30374(106.29738)14097.099.02.00.0150.030
AG-128-2442.30320(106.29744)14092.098.06.00.0130.078
AG-129-2442.30370(106.29668)12086.588.52.00.0130.026
AG-130-2442.30402(106.29697)12090.094.54.50.0590.266
AG-131-2442.30360(106.27836)13019.027.08.00.0300.242
31.534.02.50.0220.055
41.043.02.00.0280.056
AG-132-2442.30414(106.27911)10037.542.04.50.0290.131
48.550.52.00.0120.024
63.565.52.00.0120.024
AG-133-2442.30417(106.27866)10037.539.52.00.0130.026
41.563.522.00.0130.288
68.071.03.00.0150.045
AG-134-2442.30387(106.27872)12042.550.58.00.0130.105
56.058.52.50.0130.033
62.564.52.00.0110.022
AG-135-2442.30389(106.27831)12016.032.516.50.0350.578
34.036.52.50.0130.033
44.048.54.50.0250.113
AG-136-2442.30335(106.27836)1009.513.03.50.0130.046
20.024.04.00.0120.048
35.542.57.00.0140.095
45.049.04.00.0140.056
AG-137-2442.30365(106.27874)14017.528.010.50.0320.336
32.536.03.50.0270.095
AG-138-2442.30446(106.27828)12036.540.54.00.0620.248
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-139-2442.30417(106.27832)12043.549.05.50.0180.099
AG-140-2442.30387(106.27802)12033.536.53.00.0160.048
40.044.04.00.0130.052
AG-141-2442.30445(106.27869)12035.041.56.50.0130.085
67.069.02.00.0120.024
AG-142-2442.30469(106.27872)12034.036.02.00.0350.070
62.565.02.50.0150.038
70.072.02.00.0140.028
AG-143-2442.30500(106.27869)12030.544.514.00.0460.644
51.056.05.00.0100.052
64.571.06.50.0120.076
AG-144-2442.30503(106.27821)12016.023.07.00.0130.094
30.532.52.00.0410.082
36.540.54.00.0380.152
AG-145-2442.30559(106.27820)12018.020.02.00.0120.024
23.028.05.00.0110.055
33.536.02.50.0120.030
44.048.54.50.0140.063
53.057.04.00.0140.056
61.064.53.50.0130.044
71.073.52.50.0120.030
AG-146-2442.30535(106.27869)12020.523.53.00.0130.038
25.548.022.50.0140.304
AG-147-2442.30580(106.27865)12029.044.515.50.0510.791
57.068.011.00.0130.143
AG-148-2442.30610(106.27818)12028.031.53.50.0110.037
35.048.013.00.0130.165
54.056.52.50.0110.027
AG-149-2442.31234(106.29066)140101.0104.53.50.0460.161
110.5116.56.00.0110.068
AG-150-2442.31252(106.29057)140103.5107.54.00.0100.042
AG-151-2442.31322(106.29053)14095.0106.011.00.0790.869
AG-152-2442.31321(106.29016)160101.0105.54.50.0490.221
AG-153-2442.31352(106.29048)140BARREN
AG-154-2442.31353(106.29015)14093.095.52.50.0270.068
AG-155-2442.31353(106.28978)14090.593.02.50.0390.098
94.5100.05.50.0600.330
AG-156-2442.31321(106.28978)16098.5108.09.50.0560.532
AG-157-2442.31293(106.29090)140100.5103.02.50.0370.093
104.5106.52.00.0250.050
AG-158-2442.31321(106.29090)14092.597.04.50.0120.054
AG-159-2442.31321(106.28945)160107.0109.02.00.0280.056
AG-160-2442.31351(106.28942)14095.099.54.50.0440.198
AG-161-2442.31364(106.28944)14091.5102.511.00.0210.231
AG-162-2442.31295(106.29128)14077.579.52.00.0360.072
87.5103.516.00.0671.072
AG-163-2442.31269(106.29129)140107.0108.51.50.0130.020
AG-164-2442.31266(106.29090)14099.5105.05.50.0330.182
AG-165-2442.31266(106.29168)140105.0107.52.50.0130.033
AG-166-2442.31298(106.29164)14083.586.02.50.0370.093
AG-167-2442.31295(106.29201)14080.583.02.50.0290.073
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
85.587.52.00.0400.080
89.591.52.00.0270.054
AG-168-2442.31251(106.29198)14078.580.52.00.0680.136
91.594.02.50.0110.028
97.5104.06.50.0140.088
AG-169-2442.31230(106.29179)14096.0100.54.50.0140.063
102.0107.05.00.0140.070
AG-170-2442.31241(106.29229)140101.0104.53.50.0130.046
AG-171-2442.31270(106.29229)14090.092.52.50.0150.038
94.5101.06.50.0130.085
105.5107.52.00.0110.021
AG-172-2442.31216(106.29212)14097.0107.010.00.0140.138
AG-173-2442.31213(106.29257)140101.5107.05.50.0680.374
AG-174-2442.31246(106.29262)140BARREN
AG-175-2442.31191(106.29215)140103.5111.07.50.1280.960
AG-176-2442.31196(106.29282)140BELOW CUTOFF
AG-177-2442.31175(106.29253)14059.563.03.50.0120.042
108.5112.03.50.0200.070
AG-178-2442.31162(106.29217)14051.053.02.00.0110.022
69.572.53.00.0130.040
109.5113.54.00.0100.041
AG-179-2442.31186(106.29178)140109.0112.03.00.0450.135
AG-180-2442.31231(106.29144)14085.091.56.50.1220.793
95.099.04.00.0380.152
AG-181-2442.31135(106.29262)14080.586.05.50.0230.127
101.5113.011.50.0150.172
AG-182-2442.31129(106.29219)140100.0112.012.00.0140.168
AG-183-2442.31209(106.29182)140100.0102.52.50.0370.093
105.0108.53.50.0140.050
112.0114.02.00.0120.024
AG-184-2442.31204(106.29146)14096.099.53.50.0550.193
100.0110.510.50.0140.147
AG-185-2442.31220(106.29104)14084.586.52.00.0120.024
93.596.02.50.0150.038
98.0103.05.00.0180.090
105.0107.02.00.0100.020
AG-186-2442.31108(106.29362)140112.0121.09.00.0620.558
AG-187-2442.31076(106.29367)140115.0117.02.00.0330.066
117.0129.012.00.0120.141
AG-188-2442.31065(106.29429)140110.5129.018.50.0120.221
AG-189-2442.31040(106.29429)140109.0111.52.50.0230.058
116.5121.55.00.0120.062
AG-190-2442.31080(106.29329)140108.5113.55.00.0930.465
AG-191-2442.31046(106.29470)160124.5132.07.50.0150.113
AG-192-2442.31022(106.29472)140111.0116.05.00.0120.062
117.5127.09.50.0170.162
AG-193-2442.31029(106.29502)14096.0101.05.00.0120.058
113.5122.59.00.0140.122
124.0130.06.00.0160.096
AG-194-2442.31015(106.29529)140112.5120.58.00.0160.128
AG-195-2442.31095(106.29429)160130.0133.53.50.0160.056
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-196-2442.31353(106.28906)14096.0100.04.00.0290.116
AG-197-2442.31352(106.28869)14097.0103.06.00.0130.078
AG-198-2442.31373(106.28866)14097.0105.08.00.0330.266
AG-199-24-MW42.31395(106.28670)125NOT LOGGED
AG-200-24-MW42.31502(106.28512)13082.597.515.00.1161.740

Note: The geophysical results are based on equivalent uranium (eU3O8) of the gamma-ray probes calibrated at the Department of Energy’s Test Facility in Casper, Wyoming. A series E Century Geophysical logging tool with gamma-ray, spontaneous potential, resistivity, and drift detectors was utilized. The reader is cautioned that the reported uranium grades may not reflect actual concentrations due to the potential for disequilibrium between uranium and its gamma emitting daughter products.

  • Mineralized holes with thicker, higher-grade intercepts are interpreted to be in the Near Interface, Nose (main front), or Near Seepage ground located within the projected roll front system.
  • Mineralized holes with thinner, below cutoff grade intercepts are interpreted to be in the Limb/Tails or Remote Seepage ground located behind (altered) or ahead (reduced) of the projected roll front system, respectively.
  • Non-mineralized holes are interpreted to be in the Barren Exterior ground located ahead of the projected roll front system in reduced ground.
  • The drill results were determined using thickness and grade % cutoffs of 2-feet and 0.01% eU3O8.

The 2024 drilling was completed by Single Water Services utilizing a mud-rotary rig and the geophysical logging was completed by Hawkins CBM Logging, both of Wyoming with extensive experience in the uranium industry. Mr. Terrence Osier, PG, VP Exploration for Strathmore, was the supervising Geologist and oversaw the drilling activities and lithologic descriptions of the drilled cuttings which were sampled at 5-foot intervals. The drilling was completed on budget (US$275,000) and in a timely manner over a month’s time. The results of the exploration will be analyzed and assist in the layout of additional drill sites proposed for the Phase 2 drilling in autumn 2024.

New Claims Staked

In addition to exploration, the Company has expanded the project area by staking 18 new mining claims continuous to the current claim group, bringing the project total to 85 mining claims. The new claims cover ground where mineralization is anticipated to be on trend with recent and historical drilling. Strathmore plans to amend the drill permit following the Phase 1 drilling to include the new mining claims and anticipates exploration of the acquired ground in Phase 2 drilling later this year.

About the Agate Property

The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization.

About Strathmore Plus Uranium Corp. Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects 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 as 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.

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The World is sitting on a $91 trillion problem. ‘Hard Choices’ are coming

LondonCNN — 

Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exact a heavy toll on their populations.

Debt burdens have grown so large — in part because of the cost of the pandemic — that they now pose a growing threat to living standards even in rich economies, including the United States.

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In some cases, they’re even making profligate promises that could at the very least jack up inflation again and could even trigger a new financial crisis.

The International Monetary Fund last week reiterated its warning that “chronic fiscal deficits” in the US must be “urgently addressed.” Investors have long shared that disquiet about the long-term trajectory of the US government’s finances.

“(But) continuing deficits and a rising debt burden have (now) made that more of a medium-term concern,” Roger Hallam, global head of rates at Vanguard, one of the world’s largest asset managers, told CNN.

As debt burdens mount around the world, investors are growing anxious. In France, political turmoil has exacerbated concerns about the country’s debt, sending bond yields, or returns demanded by investors, soaring.

The first round of snap elections Sunday suggested that some of the market’s worst fears might not come to pass. But even without the specter of an immediate financial crisis, investors are demanding higher yields to buy the debt of many governments as shortfalls between spending and taxes balloon.

Mandatory Credit: Photo by JIM LO SCALZO/EPA-EFE/Shutterstock (11728221g) The Federal Reserve building in Washington, DC, USA, 27 January 2021. The Federal Reserve meets on 27 January, and is expected to leave interest rates near zero. Federal Reserve meets in Washington, DC, USA - 27 Jan 2021

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Higher debt servicing costs mean less money available for crucial public services or for responding to crises such as financial meltdowns, pandemics or wars.

Since government bond yields are used to price other debt, such as mortgages, rising yields also mean higher borrowing costs for households and businesses, which hurt economic growth.

As interest rates rise, private investment falls and governments are less able to borrow to respond to economic downturns.

Tackling America’s debt problem will require either tax hikes or cuts to benefits, such as social security and health insurance programs, said Karen Dynan, former chief economist at the US Treasury and now professor at the Harvard Kennedy School. “Many (politicians) are not willing to talk about the hard choices that are going to need to be made. These are very serious decisions… and they could be very consequential for people’s lives.”

Kenneth Rogoff, an economics professor at Harvard University, agrees that the US and other countries will have to make painful adjustments.

Debt is “not free anymore,” he told CNN.

“In the 2010s, a lot of academics, policymakers and central bankers came to the view that interest rates were just going to be near zero forever and then they started thinking debt was a free lunch,” he said.

“That was always wrong-headed because you can think of government debt as holding a flexible-rate mortgage and, if the interest rates go up sharply, your interest payments go up a lot. And that’s exactly what’s happened all over the world.”

‘Conspiracy of silence’

In the United States, the federal government will spend $892 billion in the current fiscal year on interest payments — more than it has earmarked for defense and approaching the budget for Medicare, health insurance for older people and those with disabilities.

Next year, interest payments will top $1 trillion on national debt of more than $30 trillion, itself a sum roughly equal to the size of the US economy, according to the Congressional Budget Office, Congress’s fiscal watchdog.

The CBO sees US debt reaching 122% of GDP a mere 10 years from now. And in 2054, debt is forecast to hit 166% of GDP, slowing economic growth.

So how much debt is too much? Economists don’t think there is a “predetermined level at which bad things happen in markets,” but most reckon that if debt hits 150% or 180% of gross domestic product, that means “very serious costs for the economy and society more broadly,” said Dynan.

A statue of Alexander Hamilton is seen outside the U.S. Department of Treasury building as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC. U.S.

Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election.

During the first televised presidential debate last week, hosted by CNN, each candidate accused the other of making America’s debt situation worse, either through tax cuts by Trump or additional spending by Biden.

British politicians have also buried their heads in the sand ahead of a general election Thursday. The Institute for Fiscal Studies, an influential think tank, has decried a “conspiracy of silence” between the country’s two main political parties, over the poor state of public finances.

“Regardless of who takes office following the general election, they will — unless they get lucky — soon face a stark choice,” IFS director Paul Johnson said last week. “Raise taxes by more than they have told us in their manifestos, or implement cuts to some areas of spending, or borrow more and be content for debt to rise for longer.”

Countries trying to tackle the debt issue are struggling. In Germany, ongoing infighting over debt limits has put the country’s three-way governing coalition under enormous strain. The political standoff could come to a head this month.

In Kenya, blowback over attempts to address the country’s $80 billion debt burden has been much worse. Proposed tax hikes have sparked nationwide protests, which have claimed 39 lives, prompting President William Ruto to announce last week that he would not sign the proposals into law.

Enter the scary bond market

But the problem with putting off efforts to rein in debt is that it leaves governments vulnerable to far more painful disciplining by financial markets. The United Kingdom offers the most recent example in a major economy. Former Prime Minister Liz Truss triggered a collapse in the pound in 2022 when she tried to force through big tax cuts funded by increased borrowing.

This aerial view shows the La Defense business district and the Aillaud Towers of the Pablo Picasso area of Nanterre, north-west of Paris on July 11, 2023.

And the threat hasn’t gone away. Take France. The risk of a financial crisis there became a serious concern virtually overnight after President Emmanuel Macron called a snap election last month.

Investors were worried voters would elect a parliament of populists bent on spending more and cutting taxes, further swelling the country’s already-high debt and budget deficit.

Even though this worst-case scenario now looks less likely, what happens after next Sunday’s second round of voting is far from certain. Yields on French government bonds have continued creeping up, reaching their highest level in eight months Tuesday.

Dynan at the Harvard Kennedy School says financial markets can quickly become unnerved by “political dysfunction” that causes investors to doubt a government’s willingness to make good on its debt.

“We tend to have a lack of imagination about the scope for things going wrong. If there’s a big event in which the market freaks out about (US) debt, it’s not going to be something that was on our radar,” she said.

source: https://www.cnn.com/2024/07/02/economy/global-debt-crisis/index.html

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