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

EMX Executes Agreement to Acquire Royalty Portfolio from SSR Mining

Figure 1: Locations of assets in the Royalty Portfolio

EMX Executes Agreement to Acquire Royalty Portfolio from SSR Mining

Vancouver, British Columbia, July 29, 2021 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) – EMX Royalty Corporation (the “Company”, or “EMX”) is pleased to announce that it has entered into an agreement (the “Royalty Purchase Agreement”) dated July 29, 2021 with SSR Mining Inc. and certain of its subsidiaries (“SSR Mining”) to purchase a portfolio of royalty interests and deferred payments (the “Royalty Portfolio”). The Royalty Portfolio consists of 18 geographically diverse royalties, with four royalty assets at advanced stages of project development, and also includes U.S. $18 million in future cash payments to be made to the owner of the Royalty Portfolio (see Figure 1 and Table 1). Upon closing of the transaction EMX will pay to SSR Mining U.S. $33 million in cash and U.S. $33 million in common shares of EMX. EMX will also make deferred and contingent payments to SSR Mining of up to U.S. $34 million if certain project advancement milestones are achieved. Further details of the commercial terms are provided below. Completion of the transaction is subject to customary closing conditions, including acceptance by the TSX Venture Exchange (the “TSX-V”).

The portfolio is highlighted by the Gediktepe royalties, which cover assets currently being developed by Lidya Madencilik (“Lidya”), a private Turkish company that expects initial production from Gediktepe in late 2021. These include a 10% NSR royalty on production from an oxide gold-silver deposit and a 2% NSR royalty on underlying polymetallic volcanogenic massive sulfide (“VMS”) mineralization. Yenipazar (Turkey) and Diablillos (Argentina) are additional royalties on advanced stage projects (see summaries below) and the other 14 royalty interests cover both precious metal and base metal assets in South America, Mexico, the United States (Nevada) and Canada.

This transaction will leverage EMX’s experience base in Turkey, is expected to provide significant near-term cash flow to the Company, and establishes a pipeline of quality royalty assets in numerous well-recognized mineral belts around the world. EMX has been working in Turkey for nearly 20 years and looks forward to building its relationship with both SSR Mining and Lidya. In Lidya, EMX sees a well funded and highly capable operator that is developing both the Gediktepe and Hod Maden mines in Turkey. The Gediktepe and Yenipazar royalty interests will bolster EMX’s existing royalty portfolio in Turkey, which includes an uncapped 4% NSR royalty on the Balya North polymetallic deposit and other royalty interests in Turkey. Balya North is being developed by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”) and remains on schedule to commence commercial production in 2021.

This Royalty Portfolio acquisition is well aligned with EMX’s corporate growth strategy, whereby the Company leverages its in-region expertise in identifying opportunities in jurisdictions where EMX already has a strategic presence. Through the years this approach has led to continuous value creation for the Company and synergies with existing EMX initiatives around the world. Further, securing near term positive cash flow will represent an important step in the Company’s evolution.

Rodney Antal, President and Chief Executive Officer of SSR Mining, commented “We are very excited to become a shareholder of EMX where our investors will have the opportunity to participate in the value creation associated with an established, growth-oriented company with an attractive portfolio of precious, base and battery metals royalties”.

Commercial Terms Overview. As stated above, upon closing of the transaction EMX will pay to SSR Mining U.S. $33 million in cash and U.S. $33 million in common shares of EMX. The number of common shares to be issued by EMX to SSR Mining will be based on the volume-weighted average price (“VWAP”) of the shares on the NYSE American stock exchange for the 20 days prior to the date of completion of the transaction (the “Closing Date”). All such shares will be subject to a hold period of 4 months and a day from the Closing Date. Upon closing, SSR Mining will own an approximate 12% undiluted equity interest in EMX, subject to final calculation at closing.

Additional deferred payments of up to U.S. $34 million will be made by EMX to SSR Mining in consideration for the Net Profits Interest (“NPI”) royalty on the Yenipazar property in Turkey. These will be payable as follows: (i) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of construction of a mill on the Yenipazar property; (ii) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of commercial production; (iii) U.S. $15,000,000 in cash, payable when EMX has received U.S. $10,000,000 in net profits interest payments under the Yenipazar NPI; and (iv) U.S. $15,000,000 in cash, payable when EMX has received a second U.S. $10,000,000 in net profits interest payments. All such shares will be subject to a hold period of 4 months and a day from the date of issue.

EMX intends to pay up to U.S. $10,000,000 of the cash payable at closing with the proceeds of a U.S. $10,000,000 senior secured credit facility (the “Credit Facility”) provided for in a non-binding term sheet EMX has entered into with Sprott Private Resource Lending II (Collector), LP (“Sprott”). The Credit Facility is to mature one year from the Closing Date, bear interest at a rate of 7% per annum, and be secured by general security agreements over the assets of EMX and certain of its subsidiaries, and pledges of the shares of certain of EMX’s subsidiaries, who will, at Sprott’s election, also be guarantors of the loan. In addition to interest payable, the U.S. $10,000,000 to be advanced under the Credit Facility will also be subject to an original issue discount equal to 5% of the amount of the advance. Under the term sheet, Sprott will subscribe for U.S. $300,000 of EMX common shares at closing, at a deemed price equal to U.S. $2.74 per share. All such shares will be subject to a hold period of 4 months and a day from the Closing Date.

If the Credit Facility is not ultimately entered into, the Royalty Purchase Agreement provides for vendor takeback financing by SSR Mining of up to U.S. $5,000,000 (the “VTB Note”), and EMX will pay the balance of the cash payable at closing from available working capital. The VTB Note will bear interest at 14% per annum and will mature 60 days from the Closing Date. If unpaid within such 60 day period, the VTB Note ‎will bear additional interest at a rate of 2% per annum for each 60 day period past due‎.

Royalty Portfolio Overview. As summarized in Figure 1 and Table 1, the Royalty Portfolio spans over 69,000 hectares across seven countries on three continents. Summaries for Gediktepe, Yenipazar and Diablillos are provided here, and further information on the Royalty Portfolio and other EMX assets can be found at www.emxroyalty.com. Upon completion of the transaction, of the royalties purchased, only the royalty over the Gediktepe property in Turkey will be material to EMX at the present time. EMX is currently preparing a technical report on the Gediktepe property to be filed on SEDAR.

Gediktepe VMS Deposit, Western Turkey: The Gediktepe VMS deposit was discovered by a Joint Venture (“JV”) initiative between Alacer Gold Corp. (“Alacer”) and Lidya in 2012-2013 and was quickly advanced to PEA (2014) and Prefeasibility stages (2016). The deposit is comprised of a polymetallic VMS system with precious metal, copper, and zinc rich domains. The upper portion of the deposit is oxidized, forming a precious metal-enriched gossanous cap that will be mined first, followed by production from the underlying polymetallic sulfide deposit. Operator Lidya has commenced development and construction of the project and is anticipating initial production in late 2021.

Alacer, the previous owner of the Gediktepe royalties, completed a merger with SSR Mining in September of 2020. The Gediktepe Royalties consist of: (i) a perpetual 10% NSR royalty over metals produced from the oxide zone (predominantly gold and silver) after cumulative production of 10,000 gold-equivalent oxide ounces; and (ii) a perpetual 2% NSR royalty over metals produced from the sulfide zone (predominantly copper, zinc, lead, silver and gold), payable after cumulative production of 25,000 gold-equivalent sulfide ounces.

The Gediktepe property is the subject of an NI 43-101 Prefeasibility study entitled “Gediktepe 2019 Prefeasibility Study” prepared by OreWin Pty Ltd. on behalf of Alacer with an effective date of Mar. 26, 2019 (the “Gediktepe Report”). The 2019 Gediktepe Report is filed on SEDAR and contains historical mining reserve and resource estimates (summarized in Tables 2.1 and 2.2).

Yenipazar VMS Deposit, Central Turkey: The Yenipazar polymetallic VMS deposit was discovered in the late 1990’s by YAMAS, a predecessor of Alacer and SSR Mining. Aldridge Minerals Inc. (“Aldridge”), a public Canadian corporation formerly listed on the TSX-V, formed a JV with Alacer in 2004 with the right to earn a majority interest in the project. Later modifications to the JV agreement in 2006 led to Aldridge acquiring a 100% project equity interest, with Alacer retaining an NPI royalty that is set at 6% until U.S. $165 million in revenues are received by the royalty holder, after which the NPI converts to a 10% interest.

Aldridge delivered a feasibility study in 2013 that was updated in 2014 before Aldridge encountered financial difficulties. Ultimately, Aldridge (and Yenipazar) were sold to a new private company (Virtus Madencilik) headed by Aldridge’s major shareholder, Ahmet Taçyildiz. Trafigura Ventures V B.V. also owns a 30% interest in Virtus. Virtus recently updated the feasibility study for Yenipazar and is currently seeking project financing for development of the project.

Diablillos Gold-Silver Epithermal deposit, Argentina. Diablillos is an extensive 7,900 hectare property located in the mining friendly Province of Salta in the Argentine Puna region. There are currently seven known mineralized zones on the Diablillos property, with the Oculto zone being the most important and the most explored. Oculto is a deeply oxidized, high-sulfidation epithermal silver-gold deposit.

Operator AbraSilver Resource Corp. (TSX-V: ABRA, “AbraSilver”) has an option to acquire 100% of the Diablillos property, with one outstanding payment due on the earlier of the date on which commercial production occurs at Diablillos or July 31, 2025. A 2018 PEA reported historical Indicated Resources at Oculto of 26.85 million tonnes grading 93g/t silver and 0.85g/t gold, for 80.3 million ounces of contained silver and 732 thousand ounces of contained gold[1]. Preliminary metallurgical tests indicate high recoveries from a crushing, grinding and agitated leach plant with a Merrill-Crowe circuit. High-grade copper intercepts have been discovered at depth and may suggest deeper porphyry-style potential.

AbraSilver continues to drill Oculto as well as advancing other targets on the property. An updated PEA is expected in Q3 2021, with a feasibility study slated for 2022.


Note: A qualified person has not performed sufficient work to classify the historical resource estimate for Diablillos as current, and EMX is not treating the historical estimate as current mineral resources. Significant data compilation, confirmation drilling, re-sampling and data verification by a qualified person may be required before the historical estimates can be classified as current mineral resources. The historical estimate is considered by EMX to be reliable and relevant, and is presented for the purpose of describing the extent and nature of mineralization as presently understood. The historical estimate should not be relied upon until verified.

Summary: By agreeing to acquire the Royalty Portfolio, EMX seeks to secure near term and sustained cash flow from a diverse collection of royalty interests and deferred consideration payments. Further, EMX welcomes SSR Mining as a strategic shareholder in EMX. EMX views this transaction as wholly accretive to its overall business, where royalties over multiple advanced and resource stage assets add significant value and diversity to EMX’s global portfolio.

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

[1] As reported in Technical Report on the Diablillos Project, Salta Province, Argentina, prepared by Roscoe Postle Associates (RPA) and filed on SEDAR by AbraPlata Resource Corporation with an effective date of April 16, 2018. Mineral Resources were reported to CIM guidelines and definitions. The resources were estimated using Ordinary Kriging within grade shell domains and reported within an optimized pit based upon metal prices of $1500/oz gold and $23/oz silver and variably calculated recoveries (refer to the technical report for details).

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

About SSR Mining. SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.
For further information contact:
David M. ColePresident and Chief Executive OfficerPhone: (303) 979-6666Dave@EMXroyalty.com
Scott CloseDirector of Investor RelationsPhone: (303) 973-8585SClose@EMXroyalty.com
Isabel BelgerInvestor Relations (Europe)Phone: +49 178 4909039Ibelger@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 completion of the transaction, perceived merits 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”, “upside” 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 actualresults, 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. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

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, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Categories
Base Metals Junior Mining Precious Metals Project Generators Uncategorized

Riverside Resources Drills New Gold Vein System Developing an Updated Exploration Model at the Cuarentas Project in Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – July 29, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to present the new exploration model for the Cuarentas Project in Sonora, Mexico. This new model results from the compilation of the updated geochemistry processing from an external expert geochemist consultant, combined with the new proof of concept drill results from hole LC20-010. This is the first drill hole testing the Santa Rosalia Sur target by Riverside.

Highlights from the hole LC20-010 discovering a new drilled vein system:

  • 3.15 m at 0.36 g/t Au including 0.7 m at 0.88 g/t Au
  • 1.55 m at 0.58 g/t Au including 0.65 m at 1.05 g/t Au

Riverside’s President and CEO, John-Mark Staude: “We are excited to receive the new and first ever drill assay results from the Santa Rosalia Sur target area which begins to outline a strong drill target area at the Cuarentas Project. We are optimistic that with just one initial hole the campaign has encountered two vein areas wide open at strike and depth to continue seemingly above a degassing Laramide porphyry Cu-Au center.“https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

The Cuarentas epithermal vein drilled mineralized area intersected at surface and appears to be the upper part of a copper-gold porphyry system that is potentially responsible for the extensive >6 km2 area including sericite and pyrophyllite alteration. Some of the key features include:

  • A major NW oriented fault corridor, linked with a 2.5 km continuous strong (>0.3 g/t Au) gold anomaly along trend.
  • Detailed and regional mapping by Riverside defines post-mineral cover boundary which was previously interpreted as the limit of the system and is now clearly seen as younger cover with the system being significantly larger and only a fraction exposed at the surface. Channel rock-sampling highlighting up to 3.4m @ 9.1 g/t Au at the surface of the single drill hole demonstrates potential for more gold in further drilling of this Santa Rosalia Sur target.
  • Strong geophysical texture with airborne and ground magnetic features defines the continuity of main shear zones which control veins and then downward into a porphyry Cu-Au targeting at depth. Further drilling is warranted to test the magnetic features.
  • Extensive pyritic halo across the entire property with zones of white micas and pyrophyllite indicate higher temperature vectors toward an undrilled porphyry system.
  • Extensive database from work done by Paget, Millrock, Centerra, Hochschild and Riverside gives abundant data now compiled.
  • Historical production reporting more than ten old adits and up to 100,000 tonnes mined from the 1950s.
  • A total of 14 historical and recent drill holes, which are evidence for mineralization, alteration useful for vectoring and targeting for future work.

And recently:

  • Defined Intermediate Sulfidation system at Santa Rosalia Sur which is vectoring toward a potential feeder zone; Geochemistry analysis are showing zoning of higher ratios which compiled with mapping and drilling is leading to a potential feeder zone (see Figure 1 below).
  • Single drill hole at the Santa Rosalia Sur target by Riverside has intersected wide pyritic zones, similar to the upper parts of known porphyry systems and vein halos in this Arizpe Sonora District including like portions of Las Chispas Mine and also Mercedes Mine which are nearby neighbors to the east and west respectively. Drilling here at Santa Rosalia Sur cut a gold rich mineralized quartz vein zone beneath post-mineral cover (see Figure 3 below – core pictures). Geologically, this hole is important for interpretation and vectoring purposes.



Figure 1: Two maps of the Cuarentas Project highlighting above the geochemistry ratio distributing spatial (top map), and Interpretation for targeting next drill program (bottom map of same area as top map).

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_002full.jpg

To conclude, after taking into consideration, Riverside is highlighting the possibility of a feeder system of intermediate sulfidation along the Testerazo fault corridor. The latter is known to be involved as a deep-seated structure within the Arizpe district, and regionally associated with porphyry feeder further to the south. Distribution of evidence is showing an opportunity for more geophysics within the southern block, near the Sombrerito target, which then will lead to test drilling (see Figure 2 below).



Figure 2: Interpretative SW-NE Cross Section of the Cuarentas Project, indicating prospective target at depth for drill testing of feeder zone (based on current drill and surface data).

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_003full.jpg

Overall, the Cuarentas district is particularly prolific, with extensive alteration and can be seen at surface with extensive jarosite, limonite and pyrite non-oxidized in drill holes (see Figure 3 below). This pyritic halo extends for multiple km2. Zones of higher temperature clays are an important vector for the feeder zone, which are defined in Figure 1 above.



Figure 3: Core pictures of the hole LC20-010. Left picture: sheeted vein zone – and gold interval upper part of the core hole; Right picture: Example of pyritic halo intersected in drill hole.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_004full.jpg

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Cuarentas Project 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Riverside completed a QA/QC program as part of the drilling program with about 10% of the samples assayed being control samples. Standards and blanks were inserted approximately every 20 samples and duplicates every 30 samples. Drill samples were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

Rock samples from the previous exploration programs discussed above at Cuarentas were taken to remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 72M 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.

Categories
Junior Mining Precious Metals Uncategorized

Lakewood Exploration Appoints Ron Burk as Technical Advisor

VANCOUVER, British Columbia, July 28, 2021 (GLOBE NEWSWIRE) — Lakewood Exploration (CSE: LWD / OTC: LWDEF) (“Lakewood” or the “Company”) is pleased to welcome Ron Burk as a Technical Advisor to the Company.

Mr. Burk is an exploration geologist with over 30 years of experience in the minerals industry, primarily focused on identifying and evaluating exploration properties. He has held numerous senior roles, including Vice President Exploration at Centerra Gold Inc. and Vice President of Exploration and Chief Geologist at Silver Standard Resources Inc. (now SSR Mining), where he contributed to discoveries that resulted in the definition of a world-class silver resource at the Pitarrilla project in Durango, Mexico and major gold resources forming the Snowfield and Brucejack deposits in northern British Columbia, Canada. Prior to joining Silver Standard in 2004, Ron had worked since 1989 as an exploration geologist for Teck Resources Ltd. and its predecessors, focused on target generation and property evaluations in the Americas.

“The addition of Ron Burk as an advisor brings even more depth to our technical team as we advance the Company’s recently acquired past-producing Silver Stand mine towards an initial drill program later this year,” said Lakewood President, Morgan Lekstrom. “Mr. Burk’s extensive experience, including nearly a decade in senior roles for a silver-focused mining company (Silver Standard), will be invaluable as we advance Silver Strand and evaluate new acquisition targets as part of our growth strategy.”https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

About Lakewood Exploration

Lakewood Exploration is a junior resource company that controls the Lacy Gold Project in British Columbia, Canada, and the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA. The Company is rapidly advancing towards an initial drill program at Silver Strand with the aim of defining a large silver resource within a belt that has produced more than 1.2 billion ounces of silver to-date. Geologic studies indicate that the Silver Strand Mine is hosted by the Revett formation, suggesting the potential for significant down dip extensions as demonstrated by other major mines in the district. Previous operators were solely interested in developing the known shallow mineralization, with the mine’s lowest level extending only 90 metres below surface. Lakewood strives to become a multi-mine silver producer.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

On Behalf of the Board of Lakewood Exploration Inc.

Morgan Lekstrom

President

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / investors@silverhammermining.com

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.htmlhttps://jac.yahoosandbox.com/0.7.0/safeframe.html

Categories
Base Metals Breaking Energy Exclusive Interviews Metallic Group Metallic Minerals

Metallic Minerals – 2 Drill Programs, La Plata and Keno Silver projects, Plus Royalties

Joining us for a conversation is Greg Johnson, the CEO of Metallic Minerals (TSX.V: MMG | OTCQB: MMNGF). Sir, we are thrilled to have you back as Metallic Minerals has several exciting developments to provide shareholders. Before we begin, Mr. Johnson, please introduce us to Metallic Minerals and the opportunity the company presents to shareholders.

Greg Johnson:

Metallic Minerals is a silver-focused exploration and development stage company. We are a member of the Metallic Group of Companies. Many of us were part of the original founding of NovaGold. The group is backed by renowned resource investors, such as Eric Sprott. We started putting together the Metallic Group at the bottom of the metal price cycle. Our focus was on brownfields, past-producing, high-potential districts with MMG being focused on silver. Over the past five years, we’ve acquired and explored three exceptional assets, including our flagship Keno Silver Project, the La Plata Project, and our Klondike Royalty Portfolio.

Maurice Jackson:

Speaking of Colorado, sir, take us onsite to the La Plata Silver-Gold-Copper Project located just outside of Durango, as Metallic Minerals has just announced the commencement of its initial drill campaign on the La Plata, which is the first significant exploration in over 50 years in the historic high-grade La Plata Mining District. Before we get into the press release, Mr. Johnson, please acquaint us more with the La Plata Project and the value proposition before us.

Greg Johnson:

So we’re pretty excited about this. We see this as an amazing opportunity. The La Plata Project is a high-grade silver and gold district originally discovered in the 1700s with over 90 different mines and prospects that were developed from the 1800s to about the 1940s, all of these producing bonanza-grade silver and gold. Major miners such as, Rio Tinto and Freeport, have come into the district in the 1950s, recognizing the bulk-tonnage potential in the central part of this precious metals-rich porphyry system. This system is a lot like the Galore Creek Project that was operated by NovaGold and our team was part of driving the success, that was recently sold to Teck and Newmont. Our team is particularly excited about applying our new modern toolkit to this opportunity in this historic high-grade district.

Maurice Jackson:

Metallic Minerals is embarking on Phase One of your 2021 drill program on the La Plata, which will be 2,000 meters of diamond drilling on the central porphyry, which hosts the historic resource. What is the goal for this campaign? And can you talk about the historical resource and what it looks like?

Greg Johnson:

This is the first drill campaign on this project in, as you said, in nearly 50 years. It’s designed to confirm the historic drill work on the project, which is only in the central porphyry system and particularly the precious metal values, which were historically under-sample. With 54 historic drill holes comprising nearly 15,000 meters of drilling, we see the potential here at La Plata to rapidly advance the system to a modern 43-101 resource. That historic resource indicates that we have the potential for a multi-billion-pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

How will Metallic Minerals measure success for this drill program and when can the market expect results?

Greg Johnson:

What we’re looking for here is to confirm the past work, which was done by really high-quality players like Rio Tinto and Freeport, with the potential to be able to not only show what they did, but to build on that and show significant expansion. We should start to see results coming out over the next couple of months with continued 3D modeling going into the fall with an objective, ultimately, of delivering an inaugural 43-101 resource on this project.

Maurice Jackson:

Leaving Colorado, let’s visit Metallic Minerals’ flagship Keno Silver Project, which is adjacent to Alexco Resources, located in the historic silver-rich Keno Silver District of the Yukon in Canada. Back in April, Metallic Minerals announced a high-grade silver intersect with 4.1 meters resulting in 2,536 grams per tonnes silver equivalent. That has now been followed up with a 10,000-meter drill program. How are things coming along and are there any updates that you can pass along to us?

Greg Johnson:

This is an exciting program. Our exploration program kicked off this year in June with the first drill. We’re looking to add a second here. This is going to be one of our largest programs to date on the Keno Silver Project with 10,000 meters planned on multiple targets and following up on the success from last year. In addition, we’re running a deep IP geophysical survey across the large targets on the eastern part of the district, which could start to give us a sense of scale and potential on those discoveries from last year’s program.

That historic resource indicates that we have the potential for a multi-billion pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

When can we expect results from the drill program and what will determine success?

Greg Johnson:

Results should start coming out any time and continue over the next several months and well into the fall. What we’re hoping to do here is to build and expand on the areas we’ve already identified mineralization, both in terms of the high-grade systems and the bulk tonnage, and to continue to build towards that inaugural resource estimate for the project.

Maurice Jackson:

Finally, let’s discuss the highly innovative Klondike alluvial gold properties in the Yukon. Do you have any updates there?

Greg Johnson:

We were pleased actually to see significant progress on the Alluvial Gold Portfolio. This is in the historic Klondike Gold Fields, which produced over 20 million ounces historically. And today that production is from these large-scale, modern open-pit operations. We’ve had major drill campaigns completed by a couple of our operators this spring and going into the summer. The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Maurice Jackson:

Oh, that sounds exciting. All right. Leaving the project sites, what is the next significant milestone for Metallic Minerals?

Greg Johnson:

With three active programs, we’ve got a lot of activity that I would expect to see strong news flow coming from each of the projects. Each one of them has kind of its milestones, but drilling, geophysical results, and then, ultimately, culminating in initial resource estimates and potentially gold production from the Alluvial Portfolio.

Maurice Jackson:

Let’s look at some numbers. Sir, please provide us the capital structure for Metallic Minerals.

Greg Johnson:

The company is well structured. 126 million shares outstanding. No debt. Got about 6 million in cash and significant in-the-money warrants that could bring in as much as another $12 million for the next year. We’re well-positioned to carry out this year’s program and we’re well-positioned into 2022 for follow-up programs.

Maurice Jackson:

In closing, Mr. Johnson, what would you like to say to shareholders?

Greg Johnson:

I think it’s worth talking about the current markets for precious metals and particularly how it fits in with the historic seasonality for the sector. We believe that a major bottom in the commodity and precious metal sector was put in, in that 2016 to 2020 period and that we’re now in the very early stages of a multi-year commodity cycle. I believe it has the potential to eclipse the last cycle that ran from 2001 to 2011. Typically, during these decade-long cycles, we’re going to get extended, healthy consolidations that can take significant periods to resolve. Gold and silver equities have been consolidating since August of last year. On top of that, we’re currently in what’s typically the weakest seasonal period for silver and gold with the strongest period generally starting in the fall.

The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Greg Johnson:

I think this presents an opportunity for astute investors to be picking up shares of high-quality, precious-metal companies at terrific values. With such long recent consolidations, but such very bullish fundamentals, I think we’re winding the spring here for a very bullish period ahead with likely another five to ten years of bull markets still to come. I should mention that with over 30,000 meters of drilling underway in the three Metallic Group of Companies, this gives investors exceptional exposure to silver, battery metals, and copper in what is looking to be an exceptional time in the marketplace for people to be picking up value in our group.

Maurice Jackson:

Mr. Johnson, last question and that is, what did I forget to ask?

Greg Johnson:

I think this has been an amazingly comprehensive coverage and interview. I would recommend that if investors have questions that they go to our website, which is mmgsilver.com, or give us a call and the numbers listed on that website. We’re happy always to talk with investors and to answer questions.

Maurice Jackson:

Mr. Johnson, it has been a pleasure speaking with you. Wishing you and Metallic Minerals the absolute best, sir.

Greg Johnson:

Thanks a lot. Been a pleasure to be back with you.

Maurice Jackson:

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Categories
Base Metals Energy Oil & Gas

Jericho Energy Ventures Co-Leads Investment into Hydrogen Catalyst Discovery Platform

Thu, July 22, 2021, 6:30 AMIn this article:

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  • H2U has developed a high throughput screening process for discovering electrocatalysts
  • Millions of elemental compositions screened and tested daily for their catalytic value
  • Low-cost catalysts enable the Hydrogen Economy
  • H2U to develop its own proprietary electrolyser technology

NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / July 22, 2021 /Jericho Energy Ventures (TSXV:JEV)(Frankfurt:JLM0)(OTC PINK:JROOF) (“Jericho” or “JEV” or the “Company”) is pleased to announce it has led a Series A financing for H2U Technologies, Inc. (“H2U”), a Company focused on developing its proprietary ultrahigh throughput, AI-driven, electrocatalyst discovery process for electrolyser and fuel cell applications.

Jericho’s USD$1.5 million Co-Lead investment is joined by Dolby Family Ventures, Hess Corporation (NYSE: HES) and Motus Ventures – with a total Series A raise of approximately USD$7 million. Each of the Co-Leads, including Jericho, will have board representation. The Board of H2U will also be joined by independent director, Tom Werner, former CEO (2003-2021) and current Chairman of SunPower (NASDAQ: SPWR).

H2U intends to use this funding to support the start-up and development of its proprietary electrocatalyst discovery process and machinery. H2U will also develop its own PEM electrolyser technology utilizing its proprietary catalysts, breakthrough sub-component innovations and manufacturing processes.

H2U’s low-cost electrolyser is being developed in partnership with Southern California Gas Co. (“SoCalGas”) – the cost target of which is half that of current PEM electrolysers. SoCalGas, who recently announced its commitment to reach Net Zero carbon emissions in its operations and delivery by 2045, will conduct demonstration testing of the new low-cost electrolyser, as well as validation testing on the performance of new non-precious metal catalysts, materials used in small quantities to initiate and accelerate the chemical process of splitting water into hydrogen and oxygen.

Disruptive Solution and Background

H2U is a commercialization of technology, exclusively licensed to H2U by Caltech, developed under a $122 million Joint Center for Artificial Photosynthesis (“JCAP”) program established by the Department of Energy and a group of universities including the California Institute of Technology, University of California, Berkley, Stanford University, UC Irvine, and UC San Diego. The mission of JCAP was to find cost-effective methods to produce fuels using only sunlight, water, and CO2. This program produced over 30 patents to which H2U has the exclusive worldwide IP-rights.

H2U’s disruptive solution to replace precious metal catalysts with cheap, stable, and effective electrocatalysts will be a required step in the adoption of green hydrogen, globally. The resulting electrocatalyst discovery pipeline is an unprecedented, proprietary, end-to-end, ultra-high throughput data-driven process focused on the discovery of new catalysts for hydrogen electrolysis, fuel cells and batteries. The process is capable of preparing, characterizing, and quantifying the catalytic activity of over 1 million compositions per day, which is orders of magnitude beyond the current state-of-the-art. Critically, the Company has already developed, lab tested and has patents pending on two potential catalysts that will be the focal point of commercialization efforts in the near-term.

H2U will initially be led by some of the leading scientists in the field of photo-and-electrocatalysis, many of whom led and directed the JCAP program at the California Institute of Technology including H2U’s Chief Scientific Advisor, Dr. Nathan Lewis (Scientific Director, Principal Investigator for JCAP and Professor of Chemistry at Caltech).

Ryan Breen, Head of Corporate Strategy at JEV, states, “Critical to any pathway towards Net Zero targets will be the low-cost, efficient and stable electrocatalysts developed by H2U for the rapidly growing Hydrogen Economy. H2U’s catalyst discovery process is a distinct advantage over traditional catalyst companies looking to serve the hydrogen market. Driving down the cost of green hydrogen is of vital importance to its adoption and JEV seeks to play a market-leading role in that pursuit. Moreover, we are thrilled to be joined by like-minded investors in recognizing the value of H2U’s proprietary technology and world-class Caltech team.”

Hydrogen Generation and Utilization: Electrolysers, Fuel Cells and Catalysts

The market to produce and utilize green hydrogen as a fuel, feedstock and means of energy storage is slated to reach a total addressable market size of $2.5 trillion per annum by 2050. Today, electrolysers and fuel cells rely on expensive and supply-constrained precious metals for electrocatalysts, particularly, platinum and iridium whose prices have risen 25% and 240%, respectively over the last twelve months.

According to the Renewable Energy Agency (IRENA) and Bloomberg New Energy Finance (BNEF), required electrolyser capacity needs to reach 270GW and 1700GW by 2030 and 2050 respectively to meet global decarbonization targets. The current global pipeline is 3GW. The growth prospects of green hydrogen and its electrolysis production process will produce an inevitable supply pull on currently utilized precious metal catalysts. In fact, the Henry Royce Institute (UK) identified the reduction of precious metals in PEM electrolyser and fuel cells as one of its top five priorities for materials research enabling the hydrogen economy.

Jericho’s Hydrogen Platform

Jericho Energy Ventures investment in H2U follows on its hydrogen-based boiler acquisition of HTI earlier in 2021. JEV’s hydrogen investment platform offers shareholders full spectrum exposure to critical parts enabling the hydrogen economy.

About Jericho Energy Ventures

Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U’s electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.

Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures

CONTACT:

Adam Rabiner
Director of IR
Jericho Energy Ventures
604.343.4534
adam@jerichoenergyventures.com

This news release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute ‘forward-looking statements’ within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Generally, such forward-looking information or 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 may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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

SOURCE: Jericho Energy Ventures Inc.

Categories
Junior Mining Labrador Gold Precious Metals Uncategorized

Labrador Gold Intersects 276.56 g/t Gold Over 0.5 Metres at Big Vein, Kingsway Project

Labrador Gold Corp.Wed, July 21, 2021, 8:00 AMIn this article:

Figure 1

Big Vein Plan Map.
Big Vein Plan Map.
Big Vein Plan Map.

Figure 2

High-grade gold intercept in Hole K-21-31. Note photo is not intended to be representative of gold mineralization in Hole K-21-31.
High-grade gold intercept in Hole K-21-31. Note photo is not intended to be representative of gold mineralization in Hole K-21-31.
High-grade gold intercept in Hole K-21-31. Note photo is not intended to be representative of gold mineralization in Hole K-21-31.

Figure 3

Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection. Note that this photo is not intended to be representative of mineralization in hole K-21-31.
Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection. Note that this photo is not intended to be representative of mineralization in hole K-21-31.
Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection. Note that this photo is not intended to be representative of mineralization in hole K-21-31.

TORONTO, July 21, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

The high-grade intersections are from holes K-21-29 and -31 that contain fine particles of visible gold in quartz vein that is typically vuggy, locally contains stylolites, and is similar to quartz veins containing high grade gold intersections reported previously (see news release dated June 3, 2021). Hole K-21-31 intersected 276.56 g/t Au over 0.5 metres which represents a “metal factor” (grade x width) of 138.28 g/t Au x m*, the highest value yet on the Kingsway Property. A second intersection in hole K-21-31 intersected 13.14g/t Au over 0.65m from 54.5m. Hole K-21-29 intersected two mineralized zones a near surface zone grading 16.44g/t over 0.5m and a deeper zone starting at 49.35m downhole grading 37.72g/t over 0.21m. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below.
*width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.

Table 1. Assay highlights

HoleFrom (m)To (m)Length (m)Au (g/t)
K-21-31**10.5110.5276.56
And**54.555.150.6513.14
K-21-29**88.50.516.44
And**49.3549.560.2137.72
K-21-20202111.03
K-21-19819111.03
and46.5492.51.09
and12413061.87
including125.5128.533.83
K-21-18111211.14
and138.231423.772.03
K-21-175555.60.61.51
K-21-1610.516.560.98
and106.5107.511.2
K-21-156.5169.50.95
and242840.69
and364041.93
and51.555.64.10.75
and10210311.08
K-21-132559.534.50.97
inc.4355121.46
incl.48.5512.52.05

**Interval contains visible gold. All intersections are downhole length as
there is insufficient Information to calculate true width.

“The Big Vein target continues to deliver near surface high grade gold mineralization shown by the grade x width value of 138.28 g/t Au x m in Hole-21-31, the highest value obtained so far from the Kingsway drilling,” said Roger Moss, President and CEO of the Company. “In addition to the drilling at Big Vein, our field crews continue to develop targets along the entire 12km strike length of Appleton Fault Zone covered by the property, including within the quartz vein corridor.”

Figure 1. Big Vein Plan Map.
https://www.globenewswire.com/NewsRoom/AttachmentNg/42ce11ce-b9a1-44b3-bfa0-e704c90e0168

Figure 2. High-grade gold intercept in Hole K-21-31.
Note photo is not intended to be representative of gold mineralization in Hole K-21-31.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7adc67f0-8e1c-4057-90d4-be53a29a96fc

Figure 3. Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection.
Note that this photo is not intended to be representative of mineralization in hole K-21-31.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8790761f-97a6-4c33-bb55-9798161c94db

Table 2. Drill hole Collar details

Hole IDEastingNorthingAzimuthInclinationTotal Depth
K-21-31661596543521810557140
K-21-29661596543521810545110
K-21-20661596543521814052179
K-21-19661603543524914858200.7
K-21-18661596543521815645201
K-21-17661603.3543524914845251
K-21-16661596543521814858191
K-21-15661551543518014854191
K-21-13661551543518014845189

Big Vein target

The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes six occurrences of visible gold, assays of samples from which range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.

The current drill program, recently increased to 50,000 metres, has only tested Big Vein over approximately 100 metres of strike length of the 400m surface exposure and to vertical depths of 50 metres. However, drilling has already produced visible gold in six drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

bGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration

Roger Moss, PhD., P.Geo., President and CEO of La company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $36 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.

The Company has 150,577,206 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

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.

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Categories
Base Metals Energy Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

Group Ten Metals Announces Arrival of Second Drill Rig, Provides Update on 10,000 Meter Drill Program at Stillwater West PGE-Ni-Cu-Co + Au Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / July 20, 2021 / Group Ten Metals Inc. (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “Group Ten”) announces the arrival of the second drill rig at the Company’s flagship Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA, and provides an update on progress of the planned 10,000 meter 2021 drill campaign. Drilling is now underway in the Chrome Mountain target area (see Figure 1), and a second rig will be installed in the Camp target area this week.

Picture 1
Picture 1

Figure 1 – Drilling in progress in the Chrome Mountain target area, Stillwater West PGE-Ni-Cu-Co + Au project

The primary objective of the 2021 program is: 1) the expansion of existing drill-defined kilometer-scale nickel and copper sulphide mineralization, enriched in palladium, platinum, rhodium, gold and cobalt, at the advanced Chrome Mountain, Camp and Iron Mountain target areas; and 2) step-out testing of adjacent priority targets identified in the 2020 Induced Polarization (“IP”) survey (see Figure 2 and April 19, 2021 news release). In addition, an expanded IP geophysical survey, mapping and prospecting programs are planned as part of this season’s program, with the aim of advancing earlier-stage targets to drill-ready status across Stillwater West’s 32-kilometer strike length.

Michael Rowley, President and CEO, commented, “We are very pleased to have initiated our most extensive drill campaign to date at Stillwater West, and to be accelerating advancement of the project towards its potential to become a major source of low-carbon battery, green, and precious metals in a premier US mining district. The 2021 campaign will focus on the most advanced target areas with the objective of expanding the initial resource estimates that are now in progress with release targeted for this summer. Our work to date, combined with the large, productive, and metal-rich nature of the district, highlights the terrific scale and expansion potential of the Stillwater West project. We look forward to further announcements in the near term.”

Figure 2 – Drilling in progress in the Chrome Mountain target area, Stillwater West PGE-Ni-Cu-Co + Au project

About Stillwater West

Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, are driving 3D models of Platreef-style mineralization in the five most advanced target areas, three of which are expected to become formal mineral resources by mid-2021. Multiple earlier-stage Platreef-style and reef-type targets are being advanced across the rest of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com
Web: http://grouptenmetals.com
Phone: (604) 357 4790
Phone: (604) 357 4790

Forward-Looking Statements

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

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

SOURCE: Group Ten Metals Inc.

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Base Metals Energy Exclusive Interviews Junior Mining

Copper Bullet Mines – Copper is the New Oil

Maurice Jackson: Joining us for a conversation is Dan Weir, the CEO of Copper Bullet Mines.

It is a pleasure to be speaking with you today to discuss the opportunity before us in Copper Bullet Mines. Before we delve into company specifics, Mr. Weir, please introduce Copper Bullet Mines and the opportunity the company presents to shareholders.

Dan Weir: Copper Bullet Mines is a new company we plan to take it public in the next 12 months. It’s run by a bunch of experienced mining guys. We have currently three geologists involved in the company. We have multiple engineers, mining engineers, metallurgical engineers, process engineers, guys that know how to mine. We have decided to focus on the Western United States.

Maurice Jackson: This may very well be the “Golden Age for Copper,” as many believe that copper is the new oil. Mr. Weir, please provide us with an overview of the supply and demand of copper.

Dan Weir: Yes, it’s very interesting. You’ve got Goldman Sachs and several companies have come out; Goldman Sachs uses the term “copper is the new oil.” If you look at a comparison, a combustible gasoline or diesel-burning vehicle has about 48 pounds of copper in it, but a Tesla or an electric vehicle has 183 pounds of copper in it. So, you can see here that it can be four, five times as much copper in an electric vehicle. So that’s just one aspect of it. Let alone the fact that we have to go across all over around the world building stations to recharge our electric vehicles, and our houses are all wired with copper wiring. More and more people are putting solar panels on their house. That means more wires, more copper is needed for that. Again, I look at Africa and only about 50% of Africa has electricity to people’s homes. That’s being built out as we move along. Other people call this is the “golden age for copper,” and I agree 100%.

Maurice Jackson: The value proposition of copper is quite compelling. Now, it’s early days for Copper Bullet Mines as the company’s currently private looking to go public. How does Copper Bullet Mines plan to meet the global demand for copper?

Dan Weir: We plan to focus on the western region of the United States. Currently, we are in what we call the copper triangle, which is in Arizona. Last month we purchased our first project the Copper Springs Project, which took about six months to put it all together. And that first project has historical resources, but we’re also looking for other assets. We are currently right now bidding on some producing assets. I can’t get into any details on those right now because we’re under confidentiality agreements, but we are looking for those types of assets, near-term type producing assets or producing assets, or something that has historical resources that we can bring up to a new resource by twinning holes. So, our focus and what we really would want to do is buy producing assets.

Maurice Jackson: Let’s go on site and find out more. Sir, take us to the “Copper Triangle” of Arizona and get us acquainted with the Copper Springs Project along with some of your neighbors.

Dan Weir: The Copper Springs Project is in the Copper Triangle, which is about one hour east of Phoenix. Some our neighbors in the Copper Triangle are the largest mining companies in the world, such as Rio Tinto, BHP, KGHM, Capstone and Asarco, which is owned by Grupo Mexico, and Freeport-McMoRan. We are surrounded by some of the largest mining companies in the world with mines in this area or are building a mine. And what I mean by building a mine, as an example, Rio Tinto and BHP, are spending billions of dollars to build the Resolution Mine. It will be one of the largest copper mines in North America when it’s completed. The Copper Springs Project is less than 12 kilometers away from the Resolution Mine.

Just to the north of us is Freeport-McMoRan. It has a copper smelter. There are only currently three, well, sort of three large copper smelters in the United States and one smaller one. Two of them just happened to be in the Copper Triangle, one with Freeport, just north of us, and the second at the bottom of the triangle owned by Asarco, and it’s called the Hayden Smelter. That smelter is being shut down. In the near future, the United States, is only going to have two full-sized copper smelters. One here, one up at Bingham Canyon in Utah, and then a small one in the Texas area. The Copper Triangle is probably the premier place in all of North America where you’re seeing copper production. And guess what? We’re right in the heart of the Copper Triangle.

Maurice Jackson: The Copper Springs is a shallow enrichment mineralization project with the historical resource, which is currently non-compliant to 43-101 standards. Provide us with some context and what is the plan moving forward to become 43-101 compliant?

Dan Weir: Over the last 50 to 60 years, there have been many different groups who have owned this project or optioned this project and have gone in and drilled at calculated resources on the Copper Springs Project. Companies like Kerr-McGee, Humble, American Copper, and most recently in around 2010, there was a small junior company called Toro Resources that had the project. And I must add to that, they had parts of the project. It wasn’t until I was able to come in here and put all of the claims together in this area. There were three groups that I had to work with. The groups had the claims. They had a package of eight claims that sat right in the middle of the claim block, and they have owned these claims since 1924. Their great grandfather had staked them, owned them in the family all that time. And this is the first time since the ’50s that this project has all been put together with all these claim packages under one option.

I’m not trying to pat myself on the back too much, but it was a lot of work, and it’s been a great experience putting this whole package together. Thus we now have a claim package of 126 claims over 2,600 acres. Our claim package that has had worked done over the years by some very large companies. Anglo-America recently visited the project in the last number of years. They say that this thing has huge potential, that we could be looking at similar to some of the others in the Copper Triangle, like Pinto Valley.

I’m not saying that that’s what we’re going to get. I believe from the data that we’ve looked at that we have a historical resource now, with 40 million tonnes grading around the 0.4% range. I’ve read several reports. Again, I can’t guarantee this, that there is potential here to be sort of 100 to 200 million tons. Let’s put that in some perspective. Even if we have 40 million tonnes and we have success twinning the historical holes, 40 million tonnes grading 0.4% is about 320 million pounds of copper.

The price of copper recently went up to the $4.60, $4.70 range. It’s pulled back in a little bit, but let’s use $4. It’s currently trading I think today at $4.25. Let’s call it $4. Multiply $4 times 320 million pounds of copper, you’re somewhere around $1.2 to $1.3 billion worth of copper sitting on this property right now. Now, again, there’s a lot of work to do. We’ll have to figure out recovery rates. We’ll have to figure out all sorts of things that go along with that. But I’m just throwing some big numbers out here because it does have some historical resources on here, and we believe that those historical resources are good. Again, until we do the drilling on here and twinned a bunch of these holes and bring it up to 43-101 standards, and do wish to be responsible with my words, these are just hypotheticals at the present.

Maurice Jackson: Sticking with the historical resource, please walk us through some of the historical drill locations.

Dan Weir: As I mentioned, several different groups drilled over time, including Kerr-McGee, Phelps Dodge, some different groups have kind of come in and out of this project. Some people will look at a project and go, “Well, these guys drilled and they didn’t find anything.” Well, they did find a lot. You talk to certain geologists or people that had been around the mining industry for a long time and one discovers that to put a project into production, there may have been about five or six junior companies, maybe a couple of larger companies that have done all of the resource studies and looked at it at so many different ways, and then you’re likely going to have one or two guys before it goes into production.

It’s very typical of these types of projects that you have multiple different people over time that will pick up claims. They’ll do some drilling, maybe they ran out of money, maybe the copper price dropped, all sorts of things. But I can tell you that in this area, as I mentioned, I’m the first one since the 1950s that’s been able to put this whole package together, and we have a lot of the old data that we can go on model, go back and drill and build a resource on the back of that.

Maurice Jackson: What can you tell us about the genetic and the exploration model?

Dan Weir: Another great thing is around 2011, several people went out and mapped the Copper Springs Project. We have talked to the geologists and some of them are PhD-type geologists who have gone out and done a lot of mapping on this project. Most of the work has been done in one area. There’s a massive area sort of on the east side of the deposit that has huge potential. And these guys have gone out and done a bunch of the mapping and again agree that there’s massive potential. And there has been very little activity on the east side of the deposit. The non-compliant historical was produced mainly from the west region of the deposit of 40 million tonnes grading about 0.4%, but there’s been very little work done on three-quarters of the project. We are confident that these is a much larger potential before on the Copper Spring Project. And again, I can’t guarantee this. I do believe that we can get too much higher numbers than 40 million tonnes.

Maurice Jackson: To coincide with mapping, I see that a geophysics study was completed in 2007. Now, will this suffice for a drill targeting, or is there a plan to conduct another survey, or do you plan to twin the historical holes?

Dan Weir: Yes we will twin some of the holes. We will do a lot more geophysics over the property. You can see from some of the maps, it was only done in the one area where they did most of the drilling. We do want to go back in here and want to do a lot more geophysics over that. Geophysics is a cheap way to do exploration. Remember that drilling is very expensive, so anything that you can do to pinpoint where you want to put those drills helps the geologists pinpoint exactly where we want to put the drill in the ground.

Maurice Jackson: Let’s discuss some important topics germane to your project. Are you fully permitted?

Dan Weir: The simple answer is no. There’s a lot of work to do over the next couple of years on here. We have to go out and get permits from the BLM [Bureau of Land Management] and the Forest Service to begin our drill program of twinning the holes. That should take to get the drill permits about six months. But as we’re applying for those permits, we can be doing a lot of the mapping work, IP work, as we decide exactly where we want to drill those holes. There’s lots of work to do here.

One thing I’m going to add here, Maurice, I mentioned earlier that we’re looking at buying some other properties, producing mines, one of them in Arizona. If we’re able to buy one of those mines, it’s close enough that we think we can just truck the ore from this property over to the operating mine, and utilize a lot of the infrastructure there. And it’s fully permitted and is in production. If we can take some of the ore from here and move it over to a producing mine, it should expedite the permitting process from the Forest Service to start mining because you’re not having to worry so much about leach pads and other things. Again, I can’t guarantee that that’s exactly what’s going to happen, but it is one model that we’ve been looking at.

Maurice Jackson: Is the Copper Springs Project 100% owned?

Dan Weir: We have optioned the project. It is an eight-year option process in which we have annual full cash payments, which most of the financing is backend loaded. So, from the first number of years, they are not onerous. And we have to do a certain amount of exploration work on the project. It is a great deal for us to move forward on this.

Maurice Jackson: What are the company’s goals and what strategy will the company use to accomplish its stated goals?

Dan Weir: I used to work for a brokerage firm on Bay Street or Wall Street for several years. I spent 12 years working at one of the top brokerage firms in all of Canada. When I left that firm, I spent another three years running the institutional sales desk for another firm. I have experience working on Bay Street or Wall Street and have been involved in financing mining companies.

One of the companies that we did a lot of work with, and I can remember doing the IPO for it in 2004, was a company called Quadra. When Quadra started, they bought one mine in Nevada called the Robinson Mine. They then took some of the cash flow that they were doing from that mine and then expanded out and started buying all sorts of other mines, not only the U.S. and into Chile. Then they went and bought another full company called FNX Mining. Maybe many of the people that will read this will remember Quadra or FNX. Ultimately, they sold it to a Polish company called KGHM for $2.5 billion. I’m not saying that we can do that, but that’s the type of model that we want to work on for this company.

I would love to be able to buy an operating mine. Again, as I said, we are bidding on several assets that are currently in operations, or that mines are in operation. If we can take that cash flow and everything else from that and start to build a company out, that’s really what I want to do. My chairman of the board is a gentleman named Daryl Hodges. He is a geologist. He worked all over the world for Falconbridge, including places like Norilsk in Russia looking for nickel, copper. He understands and gets that he and I are aligned; that’s what we want to build in this company. We want to buy assets that are in production or close to production. We also want to have some exploration plays like Copper Springs, the first one that we bought here, and grow and build a company. That is exactly what we want to do.

Maurice Jackson: We’ve discussed the good. Let’s address the bad. What can go wrong and what are your action plans to mitigate that wrong?

Dan Weir: We all know, anybody in the mining business, that mining is very cyclical. There can be ups and downs. I believe that the copper cycle here is going to be here for quite a while. Number one, because as we start to electrify more and more of the world, you’re going to see the demand for copper continue to increase. As we buy and drive more and more electric vehicles, you’re going to see big copper demand increase. In a lot of places in the world, Chile, as well as others, the copper grades continue to fall off at most of the mines around the world. Us focusing on places like Arizona to mitigate some of the risks, even Chile that produces most of the copper in the world is considering increasing some of its royalty rates. You’ve got Peru. They’re going through an election cycle here right now. We don’t know exactly what’s going to happen.

Peru and Chile produce the majority of the world’s copper. Therefore, we are focusing on places like Nevada and Arizona. Now, could things change in the United States? Could it get more difficult to get permits? That is always a risk. But I believe, and even if you look at the Fraser Institute, they rate the top two jurisdictions in the world to look at mining are Nevada and Arizona. And that is exactly where we want to focus, right in the heart of the Copper Triangle in Arizona. One hour outside Phoenix with infrastructure, with people that know mining, understand mining, and we can work and get highly skilled people. It’s a huge opportunity for us. But again, you’ve got to look at cycles, and mining can be very cyclical so that can cause big problems.

Maurice Jackson: Speaking of high-skilled people, Mr. Weir, please introduce us to your board of directors and management team, and what skill sets do they bring to Copper Bullet Mines?

Dan Weir: I mentioned earlier, Mr. Daryl Hodges. I mentioned earlier, too, that we have three geologists working with us; Daryl, we have another advisor to us, a gentleman named Herb Deurr. Herb is involved in some other junior publicly traded companies here in Canada. He lives in Reno. He is a prospector and a geologist and a brilliant guy. He has claims all over the United States, and even Puerto Rico. He’s been developing a project there as well. I’ve got engineers, like Keith Minty is a guy that built up North American Palladium, which now has been bought by Impala. We have Rich Warner as an advisor. He lives in Zurich. He’s Canadian, but lives in Zurich, works for some very high-end companies over in the Zurich area, and knows the mining industry, has worked in the mining industry all his life.

And again, our board right now, we have Doug Harris. He’s an accountant. He’s also the CFO of three other junior mining companies. So, we have the people. We also recently picked up another geologist who was the chief geologist of a mine in the Globe Miami area, right in the heart of the Copper Triangle. We have been talking to several permit experts that will likely come on board with this as we move forward here, too. We have been able to put together an absolutely amazing team who understand copper, who know copper, who have built mines, who have built processing plants, are PhD-type guys in metallurgy and metallurgical engineering. We have an amazing group of people that know how to do this.

Maurice Jackson: Who is Dan Weir and what makes them qualified for the task at hand?

Dan Weir: Again, as I mentioned, I spent several years working on Bay Street/Wall Street. I’ve spent the last 10 years working for mining companies. I’ve been on the board of directors of zinc and copper companies. I’ve been around the mining industry. I know the mining industry, but I also know that I’ve got to bring the right people with me. So, I see myself more of as a conductor of an orchestra in bringing all the right people together. I’m not a geologist, but I know a little bit about geology. But I know that I’ve got to bring the right people around me, the engineers, and everybody else to put this all together. So, we have a bunch of guys that are very hardworking, willing to roll up their sleeves, and have a lot of experience in the mining industry. And I consider myself one of those people as well.

It’s going to be interesting over the next couple of months as we go through the bidding process on some of these production assets, but right now we want to raise a million dollars as the seed round and then we will likely raise money at much higher prices.

Maurice Jackson: Mr. Weir, for readers who want to get more information on Copper Bullet Mines, please share the contact details.

Dan Weir: I may be reached at 416-720-0754. Or you can email me anytime at danweir@bulletmines.com.

Maurice Jackson: Last question, sir, what did I forget to ask?

Dan Weir: Well, Maurice, in some of the last projects that you and I have worked on together, you’ve traveled down to see some of the deposits. I think the next thing for you to do is come on down to Arizona and let’s go see the property because I’m sure you’re going to be very, very impressed with the property and the area inside the Copper Triangle. Seeing some of those smelters and some of the producing mines in the area, I think you’ll be very, very impressed. So, you know what? Ask me to get you on an airplane and get you down there, and over the next month or so, we will do that.

Maurice Jackson: Mr. Weir, it’s been a pleasure speaking with you today. Wishing you and Copper Bullet Mines the absolute best, sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com. Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Junior Mining Precious Metals Rover Metals

Rover Metas | Recap: Early Results – Summer 2021 Phase 2 Exploration at Cabin Gold Project

Vancouver, British Columbia – (July 13, 2021) – Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) Rover has now received its first batch of rush assays for its first diamond drill hole CL-21-10 from its summer campaign. Rover is reporting an average grade of 5.71 g/t Au over 3.4 meters (true width). The Company is still waiting on assays for over 10 meters of hole CL-21-10. The reported grades are 90% higher than historic hole DDH-88-61 that was drilled at a similar location in the Beaver Zone in the 1980s. New hole CL-21-10 is a 400 meter step-out to the previously defined Arrow Zone that reported 32 meters of 13.6 g/t Au in Q4-2020.

Judson Culter, CEO of Rover Metals states, “the Phase 2 Exploration Drill Program was planned to target historic zones on the Cabin Gold property that carried sulfide rich historic results. We’re very pleased that the preliminary results of our program at the historic Beaver Zone are proving that high-sulfides continue to be associated with high-grade gold. The fact that we continue to increase the average gold grades across the property shows the exploration potential of the Cabin Gold Project. Additionally, we’re reporting true width intercepts of 3.4 meters at hole CL-21-10 due to the angle of the sulfide intercepts. It’s still early in the program, and we remain very optimistic on defining an additional zone comparable to the Arrow Zone. The historic Andrew South Zone is also being targeted in this summer’s drill program.”

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements be prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.