Categories
Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals Uncategorized

Dolly Varden Silver Outlines 2024 Resource Expansion and Discovery-Focused Exploration Drill Program

Vancouver, British Columbia–(Newsfile Corp. – April 23, 2024) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce plans for the 2024 exploration drilling program at its 100% owned Kitsault Valley Project. An initial 25,000 meters of diamond drilling is planned, starting with three drills. The focus will be on following up on new discoveries as well as stepping out from wide, higher-grade intercepts from the 2023 drilling, particularly at the Homestake Silver and Wolf deposits. Mobilization will be in the first week of May, allowing for an earlier start on exploration than previous years due to a low snowpacks.

The drill program will be split approximately 50/50 between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of 1/3 to Homestake Silver deposit area, 1/3 to Wolf deposit area and 1/3 to project wide exploration targets with new discovery potential.

“Our drill results from Homestake Silver were among the highest-grade gold and silver intercepts anywhere in the Golden Triangle in 2023; our priority with this early start is to continue with step-outs as well as infill drilling to confirm continuity of the potentially bulk-mineable mineralization. Further south, silver mineralization at Wolf remains wide open for expansion and this seasons’ introduction of directional drilling technology will allow for highly accurate placement of drill intercepts,” said Shawn Khunkhun, CEO of Dolly Varden Silver.


Figure 1. Targets for the 2024 Exploration program along Dolly Varden’s Kitsault Valley Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_002full.jpg

Wolf Vein

At the Wolf Vein, drilling is planned to delineate the width and extent of the southerly plunge of wider and higher-grade silver mineralization. Step out holes that define the trace of the plunge are spaced so that any new mineralization can be included in a future resource update. The Company will implement directional drilling technology with the objective of more cost effective and accurate exploration at Wolf, particularly for deep holes.

Wolf Vein remains open to depth where results from 2023 drilling indicate an increase in base metal (lead and zinc) content as well as wider epithermal breccia vein silver mineralization, such as previous released step-out drill hole DV23-375, that intersected 296 g/t silver, 1.68% Pb and 3.01%Zn (461 g/t AgEq*) over 26.99 meters, including 1,475g/t Ag, 10.65% Pb and 12% Zn (2,260 g/t AgEq*) over 0.50 meter from an 81-metre step-out (from previous release: November 6, 2023).

Figure 2. Previously released result highlights (2022 and 2023) on Wolf Vein long section looking northwest showing open zones for follow up and trace of wider, higher-grade plunge as black line.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_003full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn. Assays are not capped and 100% recovery used for Ag and Au and base metals.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.

Homestake Silver

The program planned for Homestake Silver will start with follow up drilling on the newly discovered gold zone at the northern extent of deposit, where coarse-grained native gold in late-stage quartz-carbonate veins (Figure 3.) returned grades of 1,335 g/t Au and 781 g/t Ag over 0.68 meters within a wider interval of stockwork grading 79.49 g/t Au and 60 g/t Ag over 12.45 meters in drill hole HR23-389 (from previous release: February 12, 2024). Data from oriented core drilling indicates these quartz-carbonate veins are geologically younger and crosscut the Homestake trend at a low angle.

Figure 3. Visible Gold in quartz carbonate vein from drillhole HR23-389 at 410.00m depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_004full.jpg

The second part of Homestake Silver drilling will be resource expansion and upgrade holes that target the low angle, north dipping plunge of wide and high-grade gold and silver mineralization encountered in 2023 (Figure 4.). The mineralized plunge orientation at Homestake Silver was initially recognized in 2023 with results such as previously reported drill hole HR23-416, that intercepted the newly defined mineralized envelope returned a 93.95 meter wide zone grading 1.74 g/t Au and 213 g/t Ag (357 g/t AgEq) which included several distinct breccia vein intervals grading 11.80 g/t Au and 1,824 g/t Ag (2,802 g/t AgEq) over 9.16 meters length, 13.16 g/t Au and 3,085 g/t Ag (4,176 g/t AgEq) over 2.26 meters and 55.40 g/t Au and 4,830 g/t Ag (9,422 g/t AgEq) over 1.02 meters (previous release: January 16, 2024).

Figure 4. Homestake Ridge Long section looking southwest showing previous results of wide, highr grade plunge and new gold zone at Homestake Silver with 2024 target areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_005full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, Assays are not capped and 100% recovery used for Ag and Au.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated

Exploration Targets including Moose Vein

The Moose Vein is located 1.5 km up north of the Wolf Vein and is interpreted to be hosted within a similar cross cutting structure as Wolf. In 2023, drill hole DV23-371 from the Moose vein intercepted veining and mineralization similar to that seen at Wolf that graded 712 g/t Ag over 1.00 meter within a 7.55-metre-length interval averaging 269 g/t Ag (from previous release: November 6, 2024). This mineralization will be followed up by targeting down the same plunge trend as defined at Wolf.

Other Exploration targets on both the Homestake Ridge and Dolly Varden properties include targets within the 5.4 km long area between the southern end of Homestake Silver and Wolf Vein, under the mid-valley sedimentary cap rocks. Additionally, geophysical targets west of the Homestake Main deposit will be tested, within a parallel basin bounding structures similar to those hosting the Homestake Main and Homestake Silver deposits.

Other studies on road access, advanced metallurgy, wildlife, and baseline environmental monitoring as well as field mapping in underexplored areas of the property will be completed.

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

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

Forward Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206500

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Royalty Enters into Automatic Share Purchase Plan

Vancouver, British Columbia–(Newsfile Corp. – April 15, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce that it has entered into an automatic share purchase plan (“ASPP“) with its broker in order to facilitate repurchases of EMX’s common shares (the “Shares“) under the Company’s previously announced normal course issuer bid (the “NCIB“).

The Company previously announced that it had received approval from the TSX Venture Exchange (“TSXV“) to purchase up to 5,000,000 Shares for cancellation over a twelve-month period that commenced on February 13, 2024 and terminates no later than February 12, 2025. All purchases made pursuant to the NCIB will be made through the facilities of the TSXV, NYSE American Stock Exchange (“NYSE American“), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. The price that EMX will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that are purchased under the NCIB will be cancelled. Since the commencement of the NCIB on February 13, 2024, the Company has purchased 17,700 Shares on the TSXV and alternative Canadian trading systems at a weighted average price per Share of $2.62 for an aggregate value of approximately $46,000, and 58,302 Shares on the NYSE American and alternative U.S. trading systems at a weighted average price per Share of US$1.93 for an aggregate value of approximately US$112,000.

EMX believes that from time to time, the market price of its Shares may not reflect their underlying value and that the purchase of its Shares will enhance shareholder value and increase liquidity of the Shares. The Company intends to fund the purchases out of available cash. The ASPP will facilitate purchases under the NCIB as it will allow for purchases of Shares to be made at times when the Company would ordinarily not be permitted to make purchases, whether due to regulatory restriction or customary self-imposed blackout periods.

Under the ASPP, the Company’s broker may purchase Shares from the effective date of the ASPP until the end of the NCIB. The ASPP will facilitate purchases of Shares under the NCIB by authorizing the Company’s broker to make purchases at its sole discretion based on parameters set by the Company in accordance with the rules of the TSXV and NYSE American, applicable law and the terms of the ASPP. Outside of periods that the Company is restricted from purchasing Shares pursuant to insider trading rules or its own internal trading blackout policies, Shares may also be purchased at the Company’s discretion, in compliance with the rules of the TSXV and NYSE American and applicable law.

All purchases of Shares made under the ASPP will be included in determining the number of Shares purchased under the NCIB. Any Shares purchased by the Company pursuant to the ASPP will be cancelled. The Company is not currently in possession of any material undisclosed information in relation to the Company, the Shares or any of the Company’s other securities. The ASPP constitutes a “written automatic purchase plan” for purposes of applicable Canadian securities legislation and the ASPP has been pre-cleared by the TSXV and will be effective on April 12, 2024.

The ASPP will terminate on the earliest of the date on which: (a) the maximum purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) the ASPP otherwise terminates in accordance with its terms.

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

For further information contact:

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

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

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

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205388

Categories
Base Metals Diamcor Mining Energy Precious Metals Uncategorized

Diamcor Presenting at the LD Micro Invitational XIV

Kelowna, British Columbia–(Newsfile Corp. – April 5, 2024) – Diamcor Mining Inc. (TSXV: DMI) (OTCQB: DMIFF) (FSE: DC3A), (“Diamcor” or the “Company”), an established diamond mining company focused on building a supply of ethically sourced, non-conflict, natural rough diamonds to select diamantaires and luxury retailers, announces today it will be presenting at the 14th Annual LD Micro Invitational at the Sofitel Hotel, New York City on Tuesday, April 9th, at 5;30 PM ET and will be available for private 1 vs 1 meetings.

Diamcor’s CEO, Mr. Dean Taylor will be providing an overview of the significant changes in the diamond industry in 2024, an update on the Company’s Krone-Endora at Venetia Project, and the Company’s strategy for growth moving forward. “The new sanctions imposed on over 30% of the world’s rough diamond supply in 2024 will have a major impact on the supply of high-end natural diamonds, and companies with the ability to adapt to these changes will be very well positioned for the long-term,” noted Diamcor’s CEO, Mr. Dean Taylor, “The future direction of the diamond industry and growing complexities of securing supplies of non-conflict natural rough diamonds for many of the Luxury Retailers allows us to now expand on our existing key relationships and position ourselves as an important source of rough diamonds to select, reputable diamantaires and luxury retailers for the long-term,” added Mr. Taylor.

Event: LD Micro Invitational XIV, Sofitel Hotel, New York

Date: Tuesday, April 9th Time: 5:30 PM ET

We invite interested parties to register to watch the presentation virtually here

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded diamond mining company with a proven history, which is focused on building a growing supply of ethically sourced, non-conflict, natural rough diamonds to some of the world’s most reputable diamantaire’s and luxury retailers. The Company has a long-term strategic alliance with world famous Tiffany & Co, and currently, its primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly related to De Beers’ flagship Venetia Diamond Mine in South Africa. The Venetia diamond mine is long recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Company’s Krone-Endora Project have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company is also focused on the acquisition and development of additional mid-tier projects with near-term production capabilities to allow the Company to position itself as a growing supplier of ethically and responsibly mined non-conflict natural rough diamonds to reputable diamantaires and select luxury retailers. The Company has a strong commitment to junior mining, social responsibility, women in mining, supporting local communities, and to protecting the environment.

About the Tiffany & Co. Alliance

The Company has an established long-term strategic alliance with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About LD Micro

LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies.

For more information on LD Micro, visit www.ldmicro.com.

Please reach out to the company representative below or Dean Summers (dean@ldmicro.com) to register for the event and schedule a meeting with the company.

To learn more about Freedom US Markets, visit www.freedomusmkts.com

On behalf of the Board of Directors:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

For Investor Relations contact:
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204488

Categories
Base Metals Energy Junior Mining Uncategorized

Terra Balcanica Executes Letter of Intent For Option Agreement To Acquire 100% Interest In Advanced Saskatchewan Uranium Portfolio

Vancouver, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional exploration company focused on supporting the global transition to clean energy, is pleased to announce that it has entered into a non-binding Letter of Intent (the “Agreement”) with a wholly owned subsidiary of Fulcrum Metals Plc., (“Fulcrum”, AIM:FMET). Pursuant to the Agreement, Terra will have an option (the “Option Agreement”) to acquire a 100% interest in Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird and South Pendleton uranium licences (the “Licences”) located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective ground for a uranium discovery.

Highlights

  • Proximal to northern and southeastern edges of the Athabasca Basin (“Basin”) in northern Saskatchewan, a premium mining district and leading global source of high-grade uranium;
  • Charlot-Neely is located within the emerging Uranium City district on the northwestern margin of the Basin
  • Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;
  • Future exploration requires the undertaking of a modern systematic geologic fieldwork to determine the uranium potential.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “In our pursuit of high-quality assets worldwide, Terra Balcanica has secured an option to acquire a Canadian uranium portfolio covering close to 600 km2 with tremendous potential for discovery. In a world transitioning to green energy solutions, the acquisition of these assets provides a more robust and diverse exploration portfolio for Terra. Although there has been an increase in activity in the uranium sector, we are at the early stages of a commodity super-cycle and being able to acquire such a large, advanced uranium portfolio on favourable terms was a clear opportunity for our shareholders. It is the right time, jurisdiction, and commodity to augment our advanced Balkan portfolio and to further participate in the changing energy landscape. We look forward to working with Fulcrum to apply their technical and jurisdictional expertise to advance these Saskatchewan uranium projects, and we are excited by the addition of a strategic commodity to Terra’s existing polymetallic portfolio.” 

Portfolio Overview and Discovery Opportunity

The licence portfolio totals 596.71 km2 targeting major NE-SW trending structures along strike from historic uranium mines and projects that have attracted significant investment. Discoveries such as the Arrow (4.3Mt at 0.83% U3O8; https://www.nexgenenergy.ca/exploration/overview) and Triple R (2.7Mt at 1.94% U3O8 https://fissionuranium.com/projects/triple-r-deposit/project-overview/) have proved the concept of exploring along structures outside of the Athabasca basin.


Figure 1. Regional map of northern Saskatchewan, Canada which is one of the world’s leading sources of high-grade uranium and supplies about 20% of the world’s uranium. The blue symbols illustrate locations of the four optioned exploration properties totalling 596 km2 in the context of the world-famous Athabasca Basin, a Paleoproterozoic siliciclastic depo-centre (click here to view image).

Key Terms of Agreement

On closing of the transaction, Terra will have a four-year option to acquire 100% of Fulcrum’s owned uranium licences.

In consideration for the four-year option and at the time a definitive agreement is announced by way of news release and subject to a CSE approval, Terra shall pay Fulcrum C$7,500 for exclusivity on execution of signing of the Letter and pay Fulcrum C$25,000 less the C$7,500 exclusivity payment on execution of closing of the Option Agreement.

Additionally, Terra shall pay Fulcrum cash according to the schedule below:

  • C$50,000 on the first anniversary of closing of the Option Agreement;
  • C$75,000 on the second anniversary of closing of the Option Agreement;
  • C$75,000 on the third anniversary of closing of the Option Agreement;
  • C$75,000 on the fourth anniversary of closing of the Option Agreement;

and issue Fulcrum shares of TERA at the 10-Day Volume Weighted Average Price (“VWAP”) prior to the date of issuance as per the following schedule:

  • C$250,000 on closing of the Option Agreement with the initial share payments capped at C$0.065/share, pre-consolidation;
  • C$350,000 on the first anniversary of closing of the Option Agreement;
  • C$500,000 on the second anniversary of closing of the Option Agreement;
  • C$650,000 on the third anniversary of closing of the Option Agreement;
  • C$1,250,000 on the fourth anniversary of closing of the Option Agreement;

Terra will also complete minimum work expenditures totalling $3,250,000 prior to the fourth anniversary of the Option Agreement and grant Fulcrum a 1.0% Net Smelter Return (“NSR”) on all claims with buydown option of 0.5% NSR for C$1,000,000.

As part of the Option Agreement and for terminating the existing prior agreement (the “Prior Agreement”) between Fulcrum and Global Energy Metals Corp. (“Global Energy”), Global Energy will be compensated with C$150,000 in shares in TERA on closing of the Option Agreement and a 0.5% NSR on all claims.

The transaction contemplated above is an “Arms’ Length” in accordance with applicable securities legislation. The CSE has not passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Restructuring Board of Directors

Mr. Steven Latimer, ICD.D, CFA, MBA, has stepped down as a director of the Company to focus on his other business interests but he will continue to act as a Strategic Advisor to the Company. Giulio T. Bonifacio, Terra’s Non-Executive Chairman of the Board commented: “We are very thankful for Steve’s involvement to date while looking forward to his future role and contributions as key strategic advisor and shareholder of the Company.”

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Mišković has reviewed and validated the information contained in this news release as factual and accurate.

About the Company

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

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.

“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For the complete information on this news release, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

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

Categories
Base Metals Energy Exclusive Interviews Junior Mining Uncategorized

John Dejoia – Wyoming’s has Untapped Uranium Reserves

Joining us for a conversation is John Dejoia of Strathmore Plus Uranium, a man with over 50 year experience in the Uranium Sector, and is responsible for almost 10% of all the Uranium ever produced in the United States, sharing his insights on opportunities that are being overlooked by Uranium speculators.

Website: https://www.strathmoreplus.com/
TSX.V: SUU | OTC: SUUFF
Corporate Presentation: https://wp-strathmoreplus-2023.s3.ca-central-1.amazonaws.com/media/2024/02/SUU-Presentation-FEB-10-2024.pdf

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Energy Junior Mining Precious Metals Uncategorized

Naked Short Sellers Beware! Brokers Now Responsible For Clients’ Illegal Actions

Hello Everyone,

It’s been a while since our last post, but we’ve never forgotten the cause or stopped working on solutions to the crime of predatory naked short-selling. In this post, we want to share some encouraging news that could mark a turning point in the fight against this harmful practice.

Power Nickel’s Innovative Efforts
Before we dive into the exciting development, we’d like to mention our ongoing journey at Power Nickel and our flagship Nisk Nickel PGM deposit in Quebec. Like many junior mining companies, we’ve faced significant challenges due to predatory short sellers. We’ll share more about Power Nickel’s innovative efforts to combat naked shorts in a future article.

A Ray of Hope
In today’s challenging capital markets, hope can be scarcer than capital itself. However, we’ve come across a significant development that should give us all a reason to be hopeful. The USA brokers are now being held responsible for the actions of their clients. If clients engage in illegal naked short selling or spoofing and cause damage to the companies being targeted, brokers can be held liable.

You can read the full article here. This ruling has the potential to send shockwaves through brokers in the USA who have been linked to illegal naked short-selling schemes. It should also serve as a wake-up call to Canadian regulators who have allowed similar activities to persist.

The Road Ahead
We believe that litigation against brokers by affected companies will increase, and US brokers may become increasingly cautious about exposing themselves to such risks. While it’s still early days, and the naked short-selling industry is well-funded and influential, this ruling is a significant step in the right direction.

Judgment day just got a lot closer for those complicit in naked short-selling. The big question now is, what will Canada do?

Time for Canadian Regulators to Act
It’s high time for IIROC and the Securities Commission to wake up and do their job. An article by NIALL MCGEE highlights the challenges faced by the Canadian mining sector (Read Here). We are in a top-quartile commodity price market, and the world needs Canadian minerals. The capital markets need fixing, and we can no longer accept excuses from regulators who claim not to see anything wrong.

If regulators continue to refuse to act, then it’s time for a change. Perhaps the entire self-regulatory system should be reconsidered. It’s time for governments, both provincially and federally, to demand changes from our regulators or impose a new regulatory regime. The Canadian capital markets are broken and are failing to serve the needs of the majority of Canadians.

In closing, let’s take this recent positive ruling in the USA as a sign of hope. We are moving one step closer to eradicating the damages caused by predatory naked short-selling and ushering in the greatest commodities-driven boom in history.

Stay tuned for more updates on this important issue. Together, we can make a difference and ensure fair and transparent financial markets for all.

Sincerely,

Terry Lynch
Founder, Save Canadian Mining

Source: https://savecanadianmining.com/naked-short-sellers-beware-brokers-now-responsible-for-clients-illegal-actions/

Categories
Base Metals Junior Mining Precious Metals Project Generators Uncategorized

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Bonus Share Issuance:

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

Qualified Person:

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

About Riverside Resources Inc.:

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

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

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

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

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

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

Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Newmont Went Down 7% One Day a Week Ago. Here is Why

Bob Moriarty
Archives
Feb 27, 2024

Newmont went down 7% for the same reason a dog walks into the middle of the road to lick its dick.

Because it can.

A number of other writers including John Hathaway are commenting on the disconnect between the cost of gold and silver compared to the price of resource stocks. While gold has pretty much held its own and silver is down but a tiny bit lately, the resource stocks have been hammered to all time lows lately seemingly without reason.

There is a reason.

Actually, there are two reasons.

It’s common for investors to focus on the price and action of the shares they own and what they might be interested in buying. But right now, those numbers are meaningless. Newmont didn’t have a pit collapse in Turkey. They didn’t have a copper mine seized in Panama or any abysmal drill results from an important project.

Newmont shares got sold because they could.

In the past six weeks as Bitcon soared higher, over four billion dollars of new money flowed into the speculation. The money had to come from somewhere. It came from gold and silver ETFs and it plunged out of resource funds at a historic rate. While four billion shot into Bitcon, two billion came out of gold and silver ETFs.

The money didn’t come out of the cheapest and worst resource stocks. They are the least liquid. It came out of the biggest and the best, the most liquid.

Because it could.

So, a lot of money left the tiny world of gold and silver stocks to enter the far bigger speculation we call Bitcon. But there was another giant factor pretty much ignored by everyone.

On April 25, 2011 I predicted silver was at a top. As a result, I was bombarded with hundreds of emails telling me I was a fool and a fraud. Here is what I said.

1. Silver is going parabolic.

According to Jim Rogers all parabolic moves end badly. I have seen similar charts in all kinds of commodities and they always correct. Parabolic charts mark tops. So, when silver bugs start suggesting, “This time it’s different” I know better.

Study the chart below. Ignore the commodity. When charts go parabolic, it ends badly. I was an investor in the 1970s in both gold and silver. I started buying gold at $35 and silver around $5 an ounce. I sold out all my silver in January of 1980 a week too early at $35 as it rocketed to $50.25 an ounce at the open on January 21, 1980. It went parabolic and basically that’s all you need to know.

Nvidia reported earnings last week and the shares continued their rocket launch. Here is a chart of the stock.

Compare the two charts. What I said in my piece from April 25th of 2011 is just as true today. All parabolic moves end badly. Nvidia shares are about to crash.

All those weak hands who were eager to see if they could sell at the very bottom of the gold/silver resource cycle are going to regret being part of the thundering herd.

When Nvidia crashes and Bitcon returns to earth, the direction of money flow will reverse. Bitcon is up 30% in just six weeks. There is nothing in economics that justifies that any more than Newmont dropping 7% in a day.

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Base Metals Energy Junior Mining Project Generators Uncategorized

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

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

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

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

Initial 50% interest in the Property:

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

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

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

Net Smelter Returns Royalty (“NSR Royalty”):

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

About the Murphy Lake Property

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

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

Qualified Person:

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

About F3 Uranium Corp:

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

Contact Information

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

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

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



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

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

Forward Looking Statements

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

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

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