Tag: #MauriceJackson

Goldshore Resources Announces Innovative Technology Application for Moss Lake Project Exploration and Closing of Non-Brokered Financing

Post author By admin
Post date May 18, 2022

Vancouver, British Columbia–(Newsfile Corp. – May 18, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce that it is working with Dr. Russell Birrell of Globex on implementing his innovative ionic leach soil sampling technique that will enable the Company to detect bedrock anomalies beneath muskeg swamp and glacial till. Initial sampling will be conducted across known mineralization at the QES Zone to calibrate the geochemical response and enable a more accurate assessment of results in new areas.

Peter Flindell, Vice President Exploration, comments: “I have worked with Dr. Birrell and the ionic leach technique in Scotland where we successfully identified several mineralized targets. This technique is well suited to the type of cover at Moss Lake and I look forward to reviewing the first results over the QES Zone. The ionic leach program will continue throughout the 2022 summer field season and focus on the targets developed from last year’s VTEM/magnetics survey. This will help us to rank and rate all targets, and to prioritize the scout drilling program, outside the historical Moss Lake deposit.”

Dr. Birrell was part of the team that developed the Mobile Metal Ion (MMI) sampling technique at CSIRO. The MMI technique has been widely used in exploration programs for the past three decades. His work on ionic leach marks an order of magnitude increase in sensitivity that has mapped several concealed mineralized targets in similar terranes.

Closing of Non-Brokered Financing

The Company is also pleased to announce that it has closed a non-brokered private placement of 1,000,000 units (each, a “Unit“) at a price of $0.50 per Unit for gross proceeds of $500,000 (the “Financing“). Each Unit issued in connection with the Financing is comprised of one common share of the Company (each, a “Common Share“) and one-half common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $0.75, for a period of 24 months following the date hereof, subject to acceleration if the Common Shares trade above $1.10 on the TSX Venture Exchange (the “Exchange“) for twenty (20) consecutive days.

The Company intends to use the proceeds raised from the Financing for future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada and for general working capital purposes.

The securities issued pursuant to the Financing will be subject to a four-month and one day hold period under applicable securities laws in Canada. Closing of the Financing is subject to final approval by the Exchange.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a strategic shareholder of Goldshore with an approximate 22% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

About the Moss Lake Gold Project

The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.

Moss Lake hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 1), the historically producing North Coldstream Mine (Table 2), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment was completed on Moss Lake in 2013 and published by Moss Lake Gold¹. A historical mineral resource estimate was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc^2,3. In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“Wesdome“), which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.

The East Coldstream Deposit is a shear-hosted disseminated-style gold deposit which locally outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138 holes completed between 1988 and 2017. The deposit remains largely open at depth and may have the potential for expansion along strike. Historic drill hole highlights from the East Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.

The historically producing North Coldstream Mine is reported to have produced significant amounts of copper, gold and silver⁴ from mineralization with potential iron-oxide-copper-gold deposit style affinity. The exploration potential immediately surrounding the historic mining area is not currently well understood and historic data compilation is required.

The Hamlin Zone is a significant occurrence of copper and gold mineralization, and also of potential iron-oxide-copper-gold deposit style affinity. Between 2008 and 2011, Glencore tested Hamlin with 24 drill holes which successfully outlined a broad and intermittently mineralized zone over a strike length of 900 m. Historic drill hole highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu over 150.7 m in HAM-11-75.

The Moss Lake, East Coldstream and North Coldstream deposits sit on a mineral trend marked by a regionally significant deformation zone locally referred to as the Wawiag Fault Zone in the area of the Moss Lake Deposit. This deformation zone occurs over a length of approximately 20 km on the Moss Lake Gold Project and there is an area spanning approximately 7 km between the Moss Lake and East Coldstream deposits that is significantly underexplored.

Table 1: Historical Mineral Resources^1,2,3

	INDICATED	INFERRED
Deposit	Tonnes	Au g/t	Au oz	Tonnes	Au g/t	Au oz
Moss Lake Deposit¹ (2013 resource estimate)
Open Pit Potential	39,795,000	1.1	1,377,300	48,904,000	1.0	1,616,300
Underground Potential	–	–	–	1,461,100	2.9	135,400
Moss Lake Total	39,795,000	1.1	1,377,300	50,364,000	1.1	1,751,600

East Coldstream Deposit² (2011 resource estimate)
East Coldstream Total	3,516,700	0.85	96,400	30,533,000	0.78	763,276

Combined Total

43,311,700

1.08

1,473,700

80,897,000

0.98

2,514,876

Notes:

(1) Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J., 2013. Technical Report and Preliminary Economic Assessment for the Moss Lake Project, 43-101 technical report prepared for Moss Lake Gold Mines Ltd. Moss Lake Deposit resource estimate is based on 0.5 g/t Au cut-off grade for open pit and 2.0 g/t Au cut-off grade for underground resources.

(2) Source: McCracken, T., 2011. Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario, 43-101 technical report prepared for Foundation Resources Inc. and Alto Ventures Ltd. East Coldstream Deposit resource estimate is based on a 0.4 g/t Au cut-off grade.

(3) The reader is cautioned that the above referenced “historical mineral resource” estimates are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical estimates as current resources and Goldshore is not treating the historical estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Moss Lake Gold Project can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

Table 2: Reported Historical Production from the North Coldstream Deposit⁴

Deposit	Tonnes	Cu %	Au g/t	Ag	Cu lbs	Au oz	Ag oz
Historical Production	2,700,0000	1.89	0.56	5.59	102,000,000	44,000	440,000

Note:

(4) Source: Schlanka, R., 1969. Copper, Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources Circular No. 12, Ontario Geological Survey, pp. 314-316.

Peter Flindell, MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.

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

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

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 the Company’s actual results, performance or achievements, or developments 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.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project, the use of proceeds from the Financing, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

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. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Tags #BrettRichards, #GSHR, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Announces C$4 Million Flow-Through Private Placement Financing

Post author By admin
Post date May 18, 2022

VANCOUVER, BC / ACCESSWIRE / May 18, 2022 / Metallic Minerals Corp. (TSX-V:MMG) (OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce a non-brokered private placement offering of 9,600,000 flow-through units (“Units”) at a price of $0.42 per Unit for aggregate gross proceeds of $4,032,000 (the “Offering”), which represents a premium to the May 17^th closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”). The Units consist of a flow-through share and a half warrant and are being issued as part of a charity arrangement structured by Peartree Securities Inc.

All net proceeds from the Offering are planned to be used to incur Canadian Exploration Expenses (“CEE”) under the Income Tax Act (Canada) primarily at Metallic Minerals’ Keno Silver project in the historic, high-grade Keno Hill Silver District in Canada’s Yukon Territory.

Greg Johnson, CEO & Chairman, stated, “We are very pleased to add these new investors to our supportive shareholder base and are in a position to complete important follow-up programs at the Company’s Keno Silver and the La Plata projects, using a combination of existing funding and new flow-through funds. We remain positive on the underlying fundamentals for commodities as the current cycle continues to build and look forward to providing additional project updates as our exploration programs get underway.”

Each whole share purchase warrant is exercisable into one additional common share of the Company at a price of $0.50 per share for a period of 30 months from the date of closing. Subject to approval by the Exchange, if the closing share price five (5) trading days prior to the end of the 30-month warrant period is at or below $0.50, the Company shall, upon written request by a warrant holder, extend expiry of such warrants for an additional six (6) months.

Closing of the Offering is expected on or about June 8, 2022, subject to certain customary conditions, including, but not limited to, acceptance of the Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months plus a day following the date of closing.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. In addition, the Company recently announced the inaugural resource estimate for the La Plata silver-gold-copper project in southwestern Colorado. All of the districts in which the Company works have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields 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, Granite Creek Copper in the Yukon’s Minto copper district, and Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: mmgsilver.com
Phone: 604-629-7800
Email: cackerman@mmgsilver.com
Toll Free: 1-888-570-4420

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 the completion of the financing and the gross proceeds raised therefrom, the use of proceeds from the financing and their qualification as CEE, the date of closing of the financing, 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 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, title, trends in commodities prices and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals 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 Metallic Minerals 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: Metallic Minerals Corp.

Tags #CanadianMiningStocks, #GregJohnson, #MauriceJackson, #MetallicMinerals, #MMG, #PreciousMetals, #ProvenAndProbable, Metallic Group of Companies

Junior Mining Precious Metals Rover Metals

Rover Metals Raises $1,991,260 Under Non-Brokered Private Placement Financing

Post author By admin
Post date May 17, 2022

VANCOUVER, British Columbia, May 17, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that further to its March 21, 2022 release, and its April 26, 2022 release, the Company has now closed its $0.05 Unit Financing, raising gross proceeds of $1,991,260.

$0.05 Unit Financing
On March 21, 2022, Rover closed the first tranche of the financing for gross proceeds of $1,180,510 (the “First Closing”). The First Closing was comprised of $1,044,000 worth of $0.05 Units, and $136,510 worth of $0.055 flow-through common shares. Each Unit is comprised of one common share and one half (1/2) of a warrant to purchase common shares. The warrants have an exercise price of $0.075 and a life of three years. On April 26, 2022, Rover closed the second tranche of the financing for gross proceeds of $467,500 (the “Second Closing”). The Second Closing was comprised of $412,500 worth of $0.05 Units, and $55,000 worth of $0.055 flow-through common shares.

Today the Company is announcing the third and final closing of its financing for gross proceeds $343,250.00 (the “Third Closing”). The Third Closing is comprised of $332,250 of $0.05 Units and $11,000 of $0.055 flow-through common shares. The proceeds from the Third Closing will be used for exploration at the Company’s Cabin Gold Project, and future working capital, including general and administrative expenses.

A total of $1,991,260 has been raised under the $0.05 Unit Financing, from all three closings, resulting in the issuance of 35,775,000 common shares and 17,887,500 warrants (excluding finder’s fee warrants), from the sale of Units, and the issuance of 3,682,000 common shares from the sale of flow-through shares (or a total issuance of 39,457,000 common shares and 17,887,500 warrants).

Finders’ commissions are being paid in connection with the $0.05 Unit Financing in the amount of cash commissions of $88,695.70 and finders’ warrants of 1,748,840. The finder’s warrants have an exercise price of $0.075 and a useful life of three years. The shares and warrants issued under the $0.05 Unit Financing, including Finder’s warrants, bear the minimum four-month regulatory hold period from the date of issuance at each closing.

About Rover Metals
Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60^th parallel), and north-central Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60^th Parallel, NT, Canada, commenced in March 2022 and continues through to the date of this release. Phase 1 Exploration at its Tobin Gold Project commenced in May 2022 and continues through to the date of this release. Lastly, the Company, is also awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60^th parallel).

You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

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 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

Tags #MauriceJackson, #ProvenAndProbable, #RoverMetals, #ROVR, canadian gold mining stocks

Energy Junior Mining Precious Metals

Dolly Varden Silver Mobilizes Three Drill Rigs to Commence an Initial 30,000 Meters of Resource Expansion, Upgrade and Exploration Drilling

Post author By admin
Post date May 17, 2022

VANCOUVER, BC, May 17, 2022 /PRNewswire/ – Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce the initiation of field activities on its Kitsault Valley Project, located near tidewater in northwest British Columbia. Objectives of the 2022 Program include: upgrade current Inferred Mineral Resources to Measured and Indicated classification, expand known deposits and to discover new silver and gold mineralization along the Kitsault Valley trend of multiple deposits and historic mines.

Shawn Khunkhun, President and CEO comments, “With a robust $25 million treasury, a discovery-focused technical team and a target-rich environment, 2022 is setting up to be an historic year for Dolly Varden Silver. With strategic and technical input from our supportive corporate shareholder: Hecla Mining, it is our goal to make new silver and gold discoveries as well as to dramatically grow and upgrade resource at our current deposits, setting the Company up to be the next development Project in the Golden Triangle.”

Three diamond drill rigs are being mobilized by barge to the village of Alice Arm to complete an initial 99 drill holes Program totaling 30,000 meters along the Kitsault Valley Trend. Camp expansion and infrastructure upgrades are underway to accommodate our expanded exploration team, with a significant contingent of team members of the Nisga’a Nation.

Dolly Varden’s Kitsault Valley Project currently hosts Indicated Resources of 34.7 million ounces of silver and 166 thousand ounces of gold with additional Inferred Resources of 29.3 million ounces of silver and 817 thousand ounces of gold within multiple outcropping deposits in the 163 square kilometer Property. Resource upgrade and expansion drilling will begin at the Torbrit silver deposit, initially targeting step-outs at the Wolf Mine and between the Torbrit and North Star silver Deposits.

In late spring, drilling will commence at the Homestake Main and Homestake Silver deposits with the purpose of expanding mineralization along strike and down-dip as well upgrading current Inferred Resources.

Through integration of excellent detailed geological mapping integrated with innovative geochemical, geophysical and remote sensing methods, Dolly Varden’s strong technical team has identified new greenfield target areas along the Kitsault Valley trend. Additional surface mapping and sampling coupled with IP geophysical surveys will help refine drill targets to be tested during the 2022 Program. Twenty exploration targets have been initially identified, eight of which have been classified as Priority 1.

Figure 1 recently consolidated Kitsault Valley Project with Exploration potential between known deposits (CNW Group/Dolly Varden Silver Corp.)

Figure 2 Homestake Ridge Deposits long section with infill and resource expansion project pierce points (CNW Group/Dolly Varden Silver Corp.)

About Dolly Varden Silver Corporation

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

Forward Looking Statements

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

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

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

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/dolly-varden-silver-mobilizes-three-drill-rigs-to-commence-an-initial-30-000-meters-of-resource-expansion-upgrade-and-exploration-drilling-301548892.html

SOURCE Dolly Varden Silver Corp.

Tags #DollyVardenSilver, #DV, #InvestingInSilver, #MauriceJackson, #ProvenAndProbable, #ShawnKhunkhun

Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Hochschild Mining Sign Exploration Earn-in Option Agreement Valued at over US$31,000,000 for La Union Project Sonora, Mexico

Post author By admin
Post date May 17, 2022

Vancouver, British Columbia–(Newsfile Corp. – May 17, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that it has entered into a Exploration Earn-In Agreement (the “Agreement”) with Minera Hochschild Mexico, S.A. de C.V. (“Hochschild”), a wholly-owned subsidiary of Hochschild Mining PLC for Riverside’s 100% owned La Union Gold-Silver Project (the “Project”) in Sonora, Mexico. This new Agreement enables the Project to immediately move ahead with a robust exploration program and reflects the belief, by both parties, of the potential for rapid discovery of new gold-silver and base metal disseminated deposits on the 26 km² Project.

Highlights of the Agreement are summarized below:

Phase I Earn-in Option: Hochschild can earn an undivided 51% by incurring US$8,000,000 in exploration expenditures over five (5) years.

Upon completion of Phase I obligations, Hochschild can elect to form a 51:49 joint venture.
Phase II Earn-in Option: Hochschild can elect to earn an additional 24% by incurring a further $3,000,000 in exploration expenditures and delivering a completed Feasibility Study (FS) over three (3) years.
Upon Hochschild completing the Phase II Earn-in, Riverside will have the option to sell its interest in the Project to Hochschild for US$20,000,000, while retaining a 1% Net Smelter Royalty (NSR).

Please see the Transaction Details section below for more information on the Agreement. The intention for the program is to initially conduct property wide sampling, improved mapping, and then geophysical work to rapidly refine drill targets. This would lead to expected drill testing in early 2023 and build upon the initial reconnaissance targeting work that Riverside has completed over the past two years. La Union is well described on Riverside’s website.

Riverside’s President and CEO, John-Mark Staude, stated: “We are delighted to partner again with Hochschild Mining as we have had a productive and positive relationship working together on several past projects. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of exploration spending that this agreement provides.”

For as long as Riverside is the Operator, Hochschild will reimburse Riverside the amount of the annual concession maintenance fees, property taxes, and any other payments required to maintain the Project. As Operator, Riverside will manage the exploration programs and be entitled to collect administration fees of 10% on contracts of less than US$100,000 and 5% on contracts of more than $100,000. Over the next six months, Riverside will also be reimbursed a total amount of $250,000 for its past expenditures on the Project.

Figure 1: Location Map of La Union and Surrounding Mines

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/124298_a6d59cc9f4eabae3_002full.jpg

About La Union Gold-Silver Project:

La Union Project is located in western Sonora approximately 70 km southwest of the town of Caborca in the southern portion of the carbonate stratigraphic mountains of the Sierra El Viejo. The reactive limestone and dolomites formed a carbonate-hosted style of mineralization in the late PreCambrian stratigraphy. Large shear zones are present and potentially provide plumbing and a possible host for precious metals mineralization. La Union has seen small-scale production dating back to the 1950s by Peñoles and local families. The Project was largely unexplored until 2012, when Paget and Millrock Resources started exploration work. High-grade rock chip samples reported by Paget and Millrock attracted Riverside’s attention to La Union which was subsequently acquired by Riverside as part of a five-project portfolio acquisition (see press release June 26, 2019).

Riverside has since worked on expanding its current footprint at the La Union Project after evaluating the existing system of mineralization and its potential. Riverside sampling (see press release October 6, 2021) highlighted significant mineralization with up to 59.8 g/t gold (“Au”), 833 g/t silver (“Ag”), 5.8% lead (“Pb”) and 4.2% zinc (“Zn”).

After completing a claim consolidation in September 2021, Riverside conducted a follow up mapping and sampling program including 103 rock chip samples with the best sample returning 83.2 g/t (2.6 oz/t) Au and 4,816 g/t (150 oz/t) Ag (see press release January 5, 2022). The work further enhanced Riverside’s understanding of the structural and lithological controls by linking the small historical workings into a larger regional context. Although the Project is still in its initial stages, mineralization appears to be of manto-chimney and replacement type within Pre-Cambrian to Cambrian sedimentary rocks.

Following-up on the high-grade sample results, Riverside’s team returned and was able to further define the extent of surface mineralization. The highlights of this latest work defined high grade polymetallic samples up to 30% Zn, 83.2 g/t Au, 4,816 g/t Ag, and 10.3% Pb. Of the 103 samples assay values ranged from 83.3 g/t Au to non-detectable with about 30% of the samples returning significant gold, silver, lead and/or zinc values. Click here to see more detailed info at La Union project page.

Au – high: 83.2 g/t; low cut-off: 0.5 g/t
Ag – high: 4,816 g/t; low cut-off: 300 g/t
Pb – high: 10.3%; low cut-off: 0.1%
Zn – high: 30%*; low cut-off: 0.1%

*30% Zn is the upper detection limit in analysis method performed

Transaction Details:

Phase I Earn-In Option:

Hochschild will pay Riverside the sum of US$100,000 on signing the Agreement;
Hochschild will pay Riverside the sum of US$150,000 on the six-month anniversary of the Effective Date (November 5, 2022) for reimbursement of maintenance fees paid by Riverside through August 2022 in respect of the Concessions making for a total of $250,000;
Hochschild will reimburse Riverside for all periodic payments made pursuant to the underlying option agreements with respect to concessions comprising the Project;
Hochschild to incur expenditures as listed in the table below totaling at least US$8,000,000 of qualifying exploration expenditures before the fifth anniversary of the effective date of the executed Agreement.

Table 1: Phase I Earn-In Option (Qualifying Expenditures)

By May 5, 2023 1^st anniversary of the Effective Date	Expenditure of US$700,000
By May 5, 2024	Expenditure of US$1,000,000
By May 5, 2025	Expenditure of US$1,000,000
By May 5, 2026	Expenditure of US$2,300,000
By May 5, 2027	Expenditure of US$3,000,000

Phase II Earn-In Option:
In order to exercise the Phase II Earn-in Option, Hochschild shall pay for all Qualifying Expenditures incurred during the Phase 1 Earn-In periods and incur an additional US$3,000,000 plus costs necessary to prepare a Feasibility Study (FS) in accordance with CIM standards before the eighth anniversary of the Effective Date.

Table 2: Phase II Earn-In Option (Qualifying Expenditures)

May 2027 – May 2028	Expenditure of at least US$1,000,000
May 2028 – May 2029	Expenditure of at least US$1,000,000
May 2029 – May 2030	Expenditure of at least US$1,000,000
Feasibility Study (FS)	Undefined Expenditure Amount

The time within which the FS must be prepared can be extended for up to an additional 3 years subject to payment by Hochschild to Riverside of the following amounts:

Additional Period	Payment
1 year	US$50,000
2 years	US$250,000
3 years	US$500,000

Upon Hochschild’s completion of the Phase II Earn-In and Riverside’s acceptance, the parties can form a Joint Venture with Riverside having a 25% interest, and Hochschild having a 75% interest. Riverside will have the option to sell its interest in the Project to Hochschild for US$20,000,000, while retaining a 1% Net Smelter Royalty (NSR).

Hochschild can terminate the Agreement at any time on ninety (90) days’ notice to Riverside without any further obligation to incur exploration expenditure but will (a) remain subject to obligations accrued prior to termination (b) be required to reclaim disturbances caused by its activities and (c) pay federal annual concession maintenance fees and annual recording fees which fall due within sixty (60) days of the termination date.

Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

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.

Tags #InvestingInCopper, #John-Mark Staude, #LaUnion, #MauriceJackson, #ProvenAndProbable, #RiversideResources, #RRI

Uncategorized

Mountain Province Diamonds Announces Successful Exploration Update for Kennady North

Post author By admin
Post date May 17, 2022

TORONTO and NEW YORK, May 17, 2022 /CNW/ – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPVD) (OTC: MPVD) today announces interim exploration results for its 100%-held Kennady North Project. The Kennady North Project consists of over 107,000 hectares of claims and leases that completely surround the Gahcho Kué Diamond Mine. The 2022 exploration program is focussed on finding new kimberlites based on a detailed analysis of historical technical information including ground and airborne geophysics, kimberlite indicator minerals, and geological mapping. Approximately 3,000 of the ongoing 6,000 meter winter drill program have been completed.

Exploration Highlights for the Winter Program

Kimberlite intersected in 16 of 20 drill holes
3 of 4 target areas have returned Kimberlite Intersections
Winter geophysics completed

Mark Wall, the Company’s President and Chief Executive Officer, commented:

“We began 2022 with a plan to launch an aggressive winter exploration campaign over Kennady North, and we have achieved that plan. We have discovered kimberlite in three of four targets tested to date, and completed all of our scheduled airborne and ground geophysics. In the final weeks of our winter program, we will continue to drill-test as many priority anomalies as feasible with the intent to discover more kimberlite and add value to the Kennady North Project. As a pure Canadian diamond producer and explorer, we see this as an important time to aggressively explore for new Canadian diamond production”

Of the sixteen targets identified four have been tested by drilling so far. Drilling will continue through the rest of the winter 2022 program which is expected to culminate at the end of May. Summer exploration will start in Q3 with emphasis on follow-up sampling of indicator mineral results generated from the 2021 till sampling program, which are expected to be complete by the end of Q3. A review of all winter 2022 ground geophysical data continues through Q2 with the intent to drill areas of interest (“AOI”) with land-based anomalies in the summer program.

To date, 2,935 meters from 20 drillholes have been collected from the North Anomaly, South Anomaly, KS Anomaly and G6 Anomaly. These anomalies were defined using ARRT (a high-resolution ground resistivity system developed by Aurora Geoscience Ltd., Yellowknife), and by ground gravity. Both systems recognize the physical contrast between competent country rock and country rock adjacent to kimberlite that is broken and altered from emplacement of the kimberlite. Locations for these anomalies relative to the Kelvin and Faraday kimberlites are shown in the first set of images.

Locations for the anomalies relative to the Kelvin and Faraday kimberlites (CNW Group/Mountain Province Diamonds Inc.)

Seven drillholes completed at the North Anomaly have identified depth-extensive zones of highly altered country rock intermixed with intersects of hypabyssal kimberlite (‘HK’) ranging from 0.03 to 6.93 meters in thickness (average thickness 1.54m). Suspected volcaniclastic kimberlite (‘VK’) has been intersected in three drillholes and ranges from 0.16 to 2.13 meters in thickness (average 0.95m), with 3D modeling of the drilling indicating lateral continuity for the VK. For Kelvin and Faraday kimberlites at Kennady North, VK comprises the greatest volume and its presence in the exploration drilling is considered a good indication for volume potential at the North Anomaly.

At the South Anomaly all five drillholes have HK present with thicknesses ranging from 0.68 to 6.96 meters (average 3.23m). Country rock breccia consisting of highly comminuted gneiss mixed with kimberlite has also been observed, and is indicative of volume potential for the South Anomaly.

Four of six drillholes at the KS anomaly intersected HK kimberlite ranging from 0.22 to 1.49 meters in thickness. The present interpretation for the KS anomaly is that the system is lacking the kimberlitic fluids necessary to break up country rock and provide volume for VK to develop. A table of drill results for the North, South and KS Anomaly is provided below.

Drill Hole	Azimuth²	Inclination²	Kimberlite Intersect^1,2 (m)	End of Hole²(m)
From	To	Length¹
North Anomaly
KDI-22-008	128.5	-71.2	75.86	81.48	5.62	121.0
KDI-22-010	135.8	-49.4	83.27	86.59	3.32	127.4
KDI-22-012	47.9	-46.1	107.05	113.98	6.93	150.0
KDI-22-013	49.4	-60.7	81.56	81.75	0.19	121.0
		plus	82.61	82.98	0.37
		plus	83.68	83.88	0.20
		plus	85.07	85.45	0.38
		plus	86.10	86.13	0.03
		plus	86.30	86.52	0.22
		plus	87.72	88.75	1.03
KDI-22-015	45.0	-52.5	76.76	76.90	0.14
		plus	77.66	78.60	0.94
		plus	80.73	81.10	0.37
		plus	83.90	87.00	3.10
KDI-22-016	45.0	-62.0	69.50	72.40	2.90
		plus	73.15	73.70	0.55
KDI-22-019	223.7	-52.4	76.60	76.76	0.16
		plus	77.13	78.83	1.70
South Anomaly
KDI-22-001	307.4	-46.1	109.00	113.13	4.13	163.0
KDI-22-002	294.3	-65.0	84.19	90.06	5.87	114.7
KDI-22-003	48.6	-45.5	115.02	121.98	6.96	142.0
KDI-22-004	46.2	-69.4	98.57	99.25	0.68	139.0
KDI-22-007	182.0	-89.0	66.03	68.42	2.39	121.0
		plus	79.97	81.45	1.48
		plus	85.48	86.57	1.09
KS Anomaly
KDI-22-005	35.1	-46.1	217.08	218.57	1.49	163.0
KDI-22-006	31.3	-54.7	—	—	—	114.7
KDI-22-009	26.0	-67.7	63.51	63.76	0.25	93.2
KDI-22-011	24.9	-52.5	—	—	—	152.0
KDI-22-018	27.0	-50.0	35.50	35.65	0.15	160.0
		plus	37.00	37.25	0.25
		plus	40.20	40.50	0.30
		plus	46.46	47.71	1.25
		plus	65.14	66.00	0.86

¹Intersects are not true thicknesses. ²Initial measurements from field logs may change with further drillhole surveying and logging.

The target AOI were selected from recently-compiled studies of glacial geology and kimberlite indicator mineral (KIM) dispersions over the project area. Additional target AOI were selected after a review of historical geophysical data for Kennady North. These datasets were reviewed during several in-house workshops held in late 2021 and early 2022, with final ranking of sixteen AOI completed in a joint workshop held with De Beers in February 2022. The sixteen AOI were scheduled for ARRT and ground gravity surveys during the winter program, with a total of 188.8 line-km of ARRT and 3,139 gravity stations completed over the targets. A map image of the AOI that received ground geophysics for drill-targeting is shown in the third image.

A map image of the AOI that received ground geophysics for drill-targeting (CNW Group/Mountain Province Diamonds Inc.)

Drilling has started at the G6 anomaly, situated on the winter spur road to Gahcho Kué Mine. The G6 anomaly is the result of a 1997 DIGHEM airborne survey that delineated the Kelvin, Faraday and Gahcho Kué kimberlites. Recent drilling over follow-up coincident ARRT and ground gravity anomalies encountered no kimberlite. Assessment of the drill data is underway.

In addition to the ground geophysical surveys, a small airborne magnetic/electromagnetic survey was conducted over an unsurveyed area located one kilometer southeast of Gahcho Kué. A total of 1,291 line-km of data were collected over the area.

In 2021 over 600 till samples were collected over the project area, including the recently staked Kennady East claims. Preliminary results for 47 samples confirm the presence of pyrope, chromite and picroilmenite in esker samples from the southern portion of the Kennady East claims. The distribution of 2021 till samples and outline of the 2022 airborne geophysics program are shown in the fourth and final image.

The distribution of 2021 till samples and outline of the 2022 airborne geophysics program. (CNW Group/Mountain Province Diamonds Inc.)

About the Company

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 106,202 hectares of highly prospective mineral claims and leases that surround the Gahcho Kué Joint Venture property that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.

For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company’s website at www.mountainprovince.com.

Qualified Person

The disclosure in this news release of scientific and technical information regarding Mountain Province’s mineral properties has been reviewed and approved by Matthew MacPhail, P.Eng., MBA, and Tom E. McCandless, Ph.D., P.Geo., both employees of Mountain Province Diamonds and Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Caution Regarding Forward Looking Information
This news release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of Mountain Province Diamonds Inc. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to operational hazards, including possible disruption due to pandemic such as COVID-19, its impact on travel, self-isolation protocols and business and operations, estimated production and mine life of the project of Mountain Province; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of diamonds; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; and currency exchange rate fluctuations. Except for statements of historical fact relating to Mountain Province, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Mountain Province and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include the development of operation hazards which could arise in relation to COVID-19, including, but not limited to protocols which may be adopted to reduce the spread of COVID-19 and any impact of such protocols on Mountain Province’s business and operations, variations in ore grade or recovery rates, changes in market conditions, changes in project parametres, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, diamonds; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Mountain Province’s most recent Annual Information Form and in the most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. Mountain Province cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Mountain Province believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although Mountain Province has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Mountain Province undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed.

Further, Mountain Province may make changes to its business plans that could affect its results. The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator. Mountain Province is exposed to actions taken or omissions made by the operator within its prerogative and/or determinations made by the joint venture under its terms. Such actions or omissions may impact the future performance of Mountain Province. Under its current note and revolving credit facilities Mountain Province is subject to certain limitations on its ability to pay dividends on common stock. The declaration of dividends is at the discretion of Mountain Province’s Board of Directors, subject to the limitations under the Company’s debt facilities, and will depend on Mountain Province’s financial results, cash requirements, future prospects, and other factors deemed relevant by the Board

Tags #InvestingInBatteryMetals, #MauriceJackson, #MilesFranklin, #ProvenAndProbable

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces First Quarter 2022 Results

Post author By admin
Post date May 16, 2022

Vancouver, British Columbia–(Newsfile Corp. – May 16, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended March 31, 2022 (“Q1 2022”). The Company’s filings for the quarter are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q1-2022

Financial Update

All dollar amounts in this news release are Canadian dollars (CDN) unless otherwise noted.

Adjusted revenue and other income^[1] of $3,369,000 included $1,154,000 in income from the effective Caserones copper royalty interest in Chile.

https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Barrick_Gold%253BCompany%253BBullion%253BCash_and_cash_equivalents%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522e67ea9e1-8393-3a5f-a6f7-50b38d549b67%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Royalty generation costs of $5,397,000 of which the Company recovered $2,695,000 from partners.
General and administrative costs totaled $2,688,000. Impacting general and administrative costs, were higher professional fees, relating to the Barrick settlement of the Bullion Monarch litigation in the US, as well as the payment or accrual of annual compensation awards and adjustments.
Share-based payments totaled $626,000 compared to $542,000 in Q1 2021. The aggregate share-based payments relate mainly to the fair value of restricted share units (“RSUs”) vested during the period.
Finance expenses of $1,787,000 associated with the Sprott Credit Facility and the SSR VTB note. The Company also recognized a gain on modification of the Sprott Credit Facility of $5,008,000 resulting from an extension of the maturity date.
For the quarter, the Company had a loss from operations of $4,427,000 and net income of $23,547,000.
Adjusted cash provided by operating activities¹of $20,928,000.
Other significant items affecting income for the three months ended March 31, 2022 included $23,846,000 of net proceeds received (after settlement of legal fees) relating to the Barrick settlement with Bullion Monarch, unrealized fair value gains on investments of $6,329,000, deferred income tax expense of $5,339,000, and foreign exchange adjustments of $1,038,000.
As at March 31, 2022, the Company had cash and cash equivalents of $44,970,000, investments, long-term investments and loans receivable valued at $30,511,000, and loans payable of $59,226,000.

Corporate Updates

Suspension of Filing of Notice of Arbitration
EMX suspended the filing of its Notice of Arbitration to Zijin Mining Group Ltd (“Zijin”) and commenced discussions with Zijin with the goal of reaching a mutually acceptable resolution.

Settlement of the Bullion Litigation
The Company’s wholly-owned subsidiary, Bullion Monarch Mining, Inc., (“Bullion”) reached a settlement with Barrick Gold Corporation (“Barrick”) and Barrick affiliates and subsidiaries (“Barrick Entities”) with respect to Bullion’s claim of non-payment of royalties by the Barrick Entities to Bullion on production from properties in the Carlin Trend, Nevada. Bullion initiated litigation in 2008, before EMX acquired Bullion in 2012. Pursuant to the settlement, Barrick paid Bullion US$25 million. Of the US$25 million settlement, US$6.175 million was paid as a fee to Bullion’s Reno, Nevada lawyers. The settlement of the lawsuit does not affect our 1% gross smelter return royalty from portions of Nevada Gold Mine’s Leeville, Carlin East, Four Corners, and other northern Carlin Trend underground gold mining operations (the “Leeville Royalty”), which will continue to be paid.

Acquisition of Additional Royalty Interest on Caserones
Subsequent to Q1, EMX acquired an additional (effective) 0.3155% Net Smelter Return (“NSR”) royalty on the Caserones Copper-Molybdenum Mine located in northern Chile for US$25.74 million. When combined with EMX’s (effective) 0.418% NSR interest acquired in August 2021 (see EMX news release dated August 17, 2021), EMX now holds an effective 0.7335% NSR royalty.

Impact of Covid 19
EMX continues to monitor developments regarding the ongoing coronavirus pandemic (“COVID-19”), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates. EMX’s priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19 and assess and mitigate the risks to business continuity.

Royalty Generation Updates

EMX’s royalty and mineral property portfolio consists of over 272 properties in North America, Europe, Turkey, Latin America and Australia (See Figure 1). The Company’s portfolio is comprised of the following:

Producing Royalties	5
Advanced Royalties	9
Exploration Royalties	155
Royalty Generation Properties	103

Figure 1. EMX’s royalty and mineral property portfolio.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1508/124262_5dcddb2cd4039817_002full.jpg

During Q1 2022, the Company’s royalty generation business was active in North America, South America, Europe, Turkey, and Australia. The Company spent $5,397,000 and recovered $2,695,000 from partners. During the quarter the Company also completed 3 partnerships across the portfolio all the while continuing to replace partnered properties with new mineral properties.

Highlights from Q1 2022 include the following:

In the US the Company added to its growing royalty portfolio with the completion of two new royalty agreements, the advancement of eight partner-funded work programs, including ongoing drill projects, and new generative work leading to new acquisitions.
In Canada, partners continued to advance the portfolio with multiple field programs, including drill programs, while EMX received $89,000 in cash payments and $Nil share equity payments.
EMX continued to expand its asset portfolio in Fennoscandia with the generation of several additional exploration properties. Nickel and other battery metals continue to be a focus of the Fennoscandia operations.
EMX’s South American royalty portfolio advanced through drill programs conducted by AbraSilver Resource Corp. Aftermath Silver Ltd, Austral Gold Ltd., and Pampa Metals Corp.
In Australia, partner Many Peaks Gold achieved a public listing on the Australian Securities Exchange (“ASX”) and commenced drilling at the Company’s Queensland Gold project with results anticipated in Q2. As per the option agreement and in connection with the initial public offering, Many Peaks Gold Pty Ltd. issued to the Company 1,175,000 shares valued at $215,000 as an option fee.
At the end of Q1, 2022, technical reports were filed for EMX’s Caserones Copper-Molybdenum Mine Royalty in Chile, EMX’s Gediktepe Polymetallic Deposit Royalties in Turkey and for EMX’s Timok Royalty in Serbia that covers the newly commissioned Cukaru Peki Copper and Gold Mine.

Financing Updates

Sprott Credit Facility
The Company entered into a credit facility in Q3 2021 with Sprott Private Resource Lending II (Collector), LP (“Sprott”) totaling US$44 million (the “Credit Facility”). On January 24, 2022, the Company signed a credit agreement modification extending the maturity date to December 31, 2024. In connection with the extension, an additional 1.50% of the principal (US $660,000) was added to the principal balance as at January 24, 2022.

Private Placement with Franco-Nevada
Subsequent to Q1 2022, the Company completed a $12,580,000 (US$10,000,000) private placement with Franco-Nevada Corporation (“Franco-Nevada”). The proceeds were used to acquire the additional (effective) NSR on the Caserones open pit mine in northern Chile (see EMX’s news release dated April 14, 2022).

Franco-Nevada purchased 3,812,121 units at $3.30 per unit. Each unit consisted of one common share of EMX and one warrant to purchase one common share of EMX for $4.45 exercisable until April 14, 2027. The shares issued upon closing and the shares issuable upon the exercise of the warrants will be subject to a four-month restricted resale (hold) period expiring August 15, 2022. Franco-Nevada now owns approximately 3.5% of the issued and outstanding shares of EMX on an undiluted basis.

Investment Updates

As at March 31, 2022, the Company had investments totaling $28,010,000 which included $22,808,000 in various public and private entities, and $5,202,000 in non-current investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate. Much of the investment portfolio was derived from royalty deals completed as part of our organic royalty generation business.

Strategic Investment in Premium Nickel Resources
Subsequent to Q1 2022, the Company completed a strategic investment in Premium Nickel Resources Corporation (“PNR”), a private Canadian company advancing nickel-copper-cobalt and platinum group element (“PGE”) projects in Botswana. EMX now owns 5,412,702 shares or 6.3% of the issued and outstanding shares of PNR having purchased an additional one million shares in April 2022. This purchase was part of a recent financing completed by PNR at US$2.00 per share.

PNR recently acquired the Selebi and Selebi North nickel-copper-cobalt mines and signed an asset purchase agreement to acquire the Selkirk nickel-copper-cobalt-PGE mine, which are located in Botswana’s prolific Selebi-Phikwe and Tati nickel mining districts. In February 2022, PNR announced the signing of a non-binding letter of intent providing for a business combination with North American Nickel, which trades on the TSX-V (NAN), as a path to go public.

OUTLOOK

The year 2022 will see an increase in revenue and other income coming from our cash flowing royalties including Caserones in Chile, Leeville in Nevada, and potentially Timok in Serbia (pending conclusion of the royalty rate discussions with Zijin). Likewise, Gediktepe and Balya in Turkey have been commissioned and are scheduled to contribute to 2022 cash flows. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio. The Company plans to give production guidance for 2022 later this year.

Subsequent to Q1 2022, EMX acquired an additional (effective) 0.3155% royalty interest on Caserones and completed a $12,580,000 (US$10,000,000) private placement Franco-Nevada and a strategic investment in PNR.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets (including the filing of a shelf prospectus), and the ongoing monetization of the Company’s marketable securities.

EMX is well funded to identify new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

INVESTOR RELATIONS UPDATE

EMX is provided with investor relations services by Scott Close, who has provided his services from Colorado since June 1, 2007, initially as a consultant and, since Oct 1, 2010, as an employee, and by Isabel Belger, who has provided her services from Germany since January 1, 2018, as a consultant. Neither Scott nor Isabel provides their services on a fixed term basis, and EMX expects to continue to retain their services for the foreseeable future. Their services cover all aspects of liaising with shareholders and the financial investment community. The annual cost for investor relation services has been approximately US$130,000 per year over the past five years which is, has been and will continue to be paid from EMX’s cash on hand. Both have also been granted, from time to time, stock options to purchase EMX shares in accordance with EMX’s stock option plan and TSX Venture Exchange policy.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

^[1] Adjusted revenue and other income, and adjusted cash provided by (used in) operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 20 of the Company’s MD&A for the three months ended March 31, 2022 for more information on each non-IFRS financial measure.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124262

Tags #EMX, #EMXRoyalty, #MauriceJackson, #ProvenAndProbable

Base Metals Junior Mining Nevada Copper

Nevada Copper Achieves Key Development Milestones: Paste Plant Commissioning Underway, First Paste Filled Stope; Open Pit Resource Definition Drilling Program Commenced

Post author By admin
Post date May 16, 2022

YERINGTON, Nev., May 16, 2022 (GLOBE NEWSWIRE) — Nevada Copper (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today announced its first quarter 2022 financial and operating results as well as recent milestone achievements and updates on key development initiatives for its Pumpkin Hollow underground mine (the “Underground Mine”) and open pit project (the “Open Pit Project”). The Company has filed its interim financial statements and the related management’s discussion and analysis (“MD&A”) for the quarter ended March 31, 2022 with the Canadian securities regulatory authorities, which documents can be accessed under the Company’s profile on www.SEDAR.com.

Recent Developments

Underground Mine Ramp Up Continues: Underground production continues to ramp up with hoisting rates of a combination of stope ore and development material expected to increase to approximately 3,000 tons per day (“tpd”) in Q2 2022 and then further increasing to 4,000 to 4,500 tpd during Q3 2022.
Paste Plant Commissioning: The Underground Mine paste plant began wet commissioning and filling of the first stope with paste backfill in April 2022. Paste plant commissioning activities are ongoing with initial throughput capacity expected to be realized by the end of June 2022. It is expected that the implementation of paste backfilling will result in quicker stope turnover leading to improvements in hoisting and production rates going forward.
Surface Vent Installation and Third Ore Pass Construction: The dry commissioning of the surface ventilation fans was completed in early April. Initial excavation of the third ore pass is complete with construction activities scheduled for completion in Q3 2022.
Open Pit Drill Program Commenced: The 2022/23 drill program commenced with one drill arriving on site in late April and a second drill planned to arrive during the second quarter. The primary goals of the planned approximate 25,000-foot (“ft”) drill program are upgrading in-pit inferred mineral resources that are currently considered as waste in the 2019 Technical Report¹, to a minimum of an indicated resource, and expanding mineral resources previously inaccessible for drilling. Drilling will also be used to advance the geotechnical and metallurgical understanding of the deposit. Condemnation drilling will be completed in areas planned for major infrastructure. Several holes are also planned to follow up geophysical and surface work and test the nearby Tedeboy porphyry target.
Open Pit Project Prefeasibility Study (“PFS”) Update on Track: The Open Pit Project PFS update is progressing well and is expected to be completed in Q3 2022, as planned. The PFS will include updated mineral reserves and resources and economics based on current metals prices, costs, project development strategy and the contemplated solar project, which is expected to have a positive impact on the long-term price expectations for power. The results of the drill program currently underway will not be included in the PFS, however, they are expected to be included in an open pit feasibility study planned for the second half of 2023. The Open Pit Project has all the material permits required at this time for mine construction and operations and proven and probable mineral reserves, as estimated in the 2019 Technical Report, were 3,590 million pounds of copper (385.7 million tons grading 0.47% copper).
Key Team Additions: Continued strengthening of the team with the hiring of experienced individuals in the following roles: VP Technical Services; VP Human Resources; VP Finance; VP Investor Relations and Community Relations; Director Safety & Health; Director Supply Chain; Chief Reliability Engineer; Underground Production Manager; Process Manager; IT Manager; and several critical hires in Process Maintenance.

Randy Buffington, President & CEO stated, “I am very pleased with the progress we are making on several fronts at Pumpkin Hollow. We have completed a number of key projects at site that are aimed at improving productivity, stope availability and equipment reliability for the Underground Mine. The prefeasibility study update for the fully permitted Open Pit Project is well underway and will include important sustainable initiatives such as the solar project. In addition, the commencement of our exploration program is an important step towards our longer-term growth strategy. We are laying the groundwork necessary to demonstrate the potential for this significant copper operation and assembling the right team to execute on these plans for the long-term benefit of our stakeholders.”

Q1 2022 Highlights

Underground Mine Operations

Underground Mining Operations – During Q1 2022, the Company hoisted approximately 97,518 tons of material, a 66% improvement over Q4 2021. Included in the material hoisted was approximately 32,025 tons at an average grade of 1.3% copper mined from 3 stopes including ore mined from stopes in the Sugar Cube zone.
Lateral Development – Lateral development rates improved 31% in Q1 2022 compared with Q4 2021, with 3,126 ft developed. Two additional loaders were lowered underground in April 2022 further increasing mucking capacity and an additional haul truck is scheduled to be hoisted in May 2022. Ore tons mined from development during Q1 2022 were 65,493 tons, at an average grade of 0.7% copper. As previously disclosed, the Company continues to advance across a water-bearing dike structure with the first crossing being completed and grouting activities underway on the second crossing to be followed by advancing development under steel sets through the dike. While there have been some challenges due to highly variable ground and water conditions, the Company is advancing development from Ramp 01 on the other side of the dike to maintain the production schedule. The Company expects to complete the second crossing in Q2 2022.
Processing Plant – During Q1 2022, 96,414 tons of ore were processed, a 76% increase over Q4 2021. Processing plant recovery improved by 5% to 84% from Q4 2021. Copper concentrate sales increased by 50% to approximately 2,099 tons of concentrate at an average copper grade of 23%, compared to 1,403 tons of concentrate at an average copper grade of 23% in Q4 2021. The Company continued to batch process ore during Q1 2022, however the number of operating days improved by 112% from 17 days in Q4 2021 to 36 days in Q1 2022.

Q1 2022 Financial Statements and MD&A

The Company has filed on SEDAR its condensed consolidated interim financial statements and the related management’s discussion and analysis for the quarter ended March 31, 2022. These documents are available on the Company’s website at www.nevadacopper.com and the Company’s SEDAR profile at www.sedar.com.

Management Team Changes

In April 2022, Tracey Thom joined the Company as Vice President, Investor Relations and Community Relations. Tracey’s primary roles include implementing and managing the ongoing investor and community relations strategy that aligns all stakeholder engagement with the Company’s vision and goals.

Tracey brings over 25 years of senior management and investor relations experience in the mining industry and joins Nevada Copper from Hycroft Mining Holding Corporation where she was Vice President, Investor Relations and Corporate Communication for over 13 years. Prior to that she held senior executive roles in single and dually listed companies ranging from exploration and development to multi-national operations including Andina Minerals, Kinross Gold Corporation, and TVX Gold Inc.

Effective May 23, 2022, Kris Sims will assume the role of Interim Chief Financial Officer (“CFO”) following the departure of Andre van Niekerk as Executive Vice President and CFO, who is leaving for personal reasons. Kris is a seasoned financial professional with over 30 years of experience in the mining industry in executive leadership roles with large operating and development companies in the precious and base metals sectors including Phelps Dodge Mining Company, Freeport McMoRan Copper and Gold and Kinross Gold Corporation. He focuses on establishing fiscal transparency and accountability, operational excellence, profitability, and sustainability for the companies he works with. He has also been an advocate for mining in Nevada and led the Nevada Mining Association as Chairman in 2015. Kris was previously employed with Nevada Copper as Project Manager and has a strong base of institutional knowledge that will be key to moving forward and transitioning the CFO role.

“On behalf of the Board and Nevada Copper team, our sincere appreciation for the strong leadership and commitment Andre provided during his tenure,” said Randy Buffington. “He has been an incredible asset and we wish him well in his future endeavors. I am glad we are able to seamlessly integrate Kris into this leadership role as his experience and institutional knowledge will be valuable during our ongoing ramp up.”

Qualified Persons

The technical information and data in this news release has been reviewed by Greg French, C.P.G., Vice President, Exploration and Steven Newman, Registered Member – SME, Vice President, Technical Services for Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

Randy Buffington
President & CEO

For additional information, please see the Company’s website at www.nevadacopper.com, or contact:

Tracey Thom | Vice President, IR and Community Relations
tthom@nevadacopper.com
+1 775 391 9029

Rich Matthews | Integrous Communications
rmatthews@integcom.us
+1 604 757 7179

____________
¹Technical Report, entitled “NI 43-101 Technical Report: Nevada Copper Corp. Pumpkin Hollow Project, Open Pit and Underground Mine Prefeasibility Study”, with an effective date of January 21st, 2019.

Cautionary Language on Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such forward-looking information and forward-looking statements specifically include, but are not limited to, statements that relate to Underground Mine development, production and ramp-up expectations and objectives, future hoisting and production rates, equipment installation, expectations regarding the prefeasibility study update and the expected completion thereof and the other plans of the Company with respect to exploration, development, construction and commercial production.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labour disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; dependence on management information systems and cyber security risks; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2021 and the quarter ended March 31, 2022 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 31, 2022. The forward-looking statements and information contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: no adverse developments in respect of the property or operations at the project; no material changes to applicable laws; the ramp-up of operations at the underground mine in accordance with management’s plans and expectations; no worsening of the current COVID-19 related work restrictions; reduced impacts of COVID-19 going forward; the Company will be able to obtain sufficient additional funding to complete the ramp-up, no material adverse change to the price of copper from current levels; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended.

The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information and statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. Specific reference is made to “Risk Factors” in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2021 and the quarter ended March 31, 2022 and “Risk Factors” in the Company’s Annual Information Form dated March 31, 2022, for a discussion of factors that may affect forward-looking statements and information. Should one or more of these risks or uncertainties materialize, should other risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results and events may vary materially from those described in forward-looking statements and information. For more information on the Company and the risks and challenges of its business, investors should review the Company’s filings that are available at www.sedar.com.

The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Tags #InvestingInBatteryMetals, #MauriceJackson, #NCU, #NevadaCopper, #ProvenAndProbable, #RandyBuffington

Exclusive Interviews Precious Metals Rover Metals

Rover Metals Corporate Webinar Recording

Post author By admin
Post date May 16, 2022

VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide a recording of the Company’s CEO, Judson Culter, presenting Rover’s high-grade gold exploration story in northern Canada, including an overview of current operations and upcoming milestones, while sharing the most recent Investor Presentation. We invite all investors and other interested parties to watch the recorded webinar at the link below. The discussion also includes Rover’s plans for gold exploration at its new project in the Battle Mountain gold district of Nevada.

Recorded Webinarhttps://www.youtube.com/watch?v=eXEpbUBOYSQ

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

Tags #CanadianMiningStocks, #MauriceJackson, #ProvenAndProbable, #ROVR

Junior Mining Precious Metals Silver Hammer

Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners

Post author By admin
Post date May 16, 2022

VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) — (CSE: HAMR/OTCQB: HAMRF) Silver Hammer Mining Corp. (the “Company” or “Silver Hammer”) is pleased to announce its intention to complete a brokered private placement on a commercially reasonable efforts basis for gross proceeds of up to approximately C$3,000,000 (the “Offering”). The Offering will be led by Echelon Wealth Partners Inc. as lead agent and sole bookrunner (the “Agent”).

The Company will grant the Agent an option to increase the size of the Offering by up to 15% of the Units sold under the Offering exercisable, in whole or in part, by the Agent upon written notice to the Company at any time up to 48 hours prior to the final closing date of the Offering.

The Offering will consist of up to 7,894,800 units of the Company (each, a “Unit”, and collectively the “Units”) at a price of C$0.38 per Unit (the “Offering Price”). Each Unit consists of one Common Share (each, a “Common Share”, and collectively the “Common Shares”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant” and collectively the “Warrants”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.50 per Common Share for a period of 24 months from the closing date of the Offering. The Company will apply to list the Common Shares (including the Common Shares underlying the Warrants and the broker warrants (as described below)) on the Canadian Securities Exchange (“CSE”) upon closing of the Offering.

The net proceeds of the Offering will be used for the exploration of the Silver Strand Project in Idaho, the Eliza Silver Project in Nevada, the Silverton Silver-Gold Project in Nevada, and for general and working capital purposes.

The Company will pay a cash commission to the Agent equal to 8.0% of the aggregate gross proceeds of the Offering (4.0% from the sale of Units to purchasers identified on the Company’s president’s list) and will issue broker warrants equal to 8.0% of the number of Units sold under the Offering (4.0% of the number of Units from the sale of Units to purchasers identified on the Company’s president’s list), each exercisable to acquire one Common Share at $0.38 for a period of 24 months from the closing date of the Offering.

Closing of the Offering is expected to occur on or about June 2, 2022.

The Units will be offered and sold by private placement in Canada to “accredited investors” within the meaning of National Instrument 45-106 – Prospectus Exemptions and other exempt purchasers in each province of Canada and may be sold outside of Canada on a basis which does not require the qualification or registration of any of the Common Shares or the Warrants comprising the Units in the subscriber’s jurisdiction. The Company may also concurrently offer and sell Units outside of Canada on a non-brokered, unregistered private placement basis to a limited number of “accredited investors” (as defined in Regulation D under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) with whom the Company has substantive pre-existing relationships, in reliance on exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws or in other jurisdictions where permitted by law. The securities issued in the Offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of 4 months and one day from the date of issuance (the “Hold Period”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer’s primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold discoveries

Forward-Looking Information

This release may contain 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. Forward-looking statements may include, without limitation, statements relating to the Offering and the use of proceeds therefrom. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s public securities filings with the Canadian securities commissions, including the Company’s short form prospectus. Although the Company 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 may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

On Behalf of the Board of Silver Hammer Mining Corp.

Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For further information contact:
Kristina Pillon, President, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

For media inquiries, contact:
Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.com

The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

Tags #HAMR, #InvestingInBatteryMetals, #MauriceJackson, #MorganLekstrom, #ProvenAndProbable, #SilverHammerMining

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

Tag: #MauriceJackson

Goldshore Resources Announces Innovative Technology Application for Moss Lake Project Exploration and Closing of Non-Brokered Financing

Metallic Minerals Announces C$4 Million Flow-Through Private Placement Financing

Rover Metals Raises $1,991,260 Under Non-Brokered Private Placement Financing

Dolly Varden Silver Mobilizes Three Drill Rigs to Commence an Initial 30,000 Meters of Resource Expansion, Upgrade and Exploration Drilling

About Dolly Varden Silver Corporation

Forward Looking Statements

Riverside Resources and Hochschild Mining Sign Exploration Earn-in Option Agreement Valued at over US$31,000,000 for La Union Project Sonora, Mexico

Mountain Province Diamonds Announces Successful Exploration Update for Kennady North

EMX Royalty Announces First Quarter 2022 Results

Nevada Copper Achieves Key Development Milestones: Paste Plant Commissioning Underway, First Paste Filled Stope; Open Pit Resource Definition Drilling Program Commenced

Rover Metals Corporate Webinar Recording

Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners