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Base Metals Breaking Energy Junior Mining Precious Metals

Group Ten Reports Highest Grade and Widest Mineralized Intercepts to Date at the Stillwater West Battery Metals and Platinum Group Elements Project in Montana, USA, Including 63.7 Meters of 0.92% Nickel Equivalent Mineralization (2.46 g/t Palladium Equivalent)

VANCOUVER, BC / ACCESSWIRE / December 20, 2021 / Group Ten Metals Inc. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “Group Ten”) today reports partial results from the first two drill holes of the 14-hole resource expansion campaign completed in 2021 at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. Results are expected to form the basis of an updated resource estimate in 2022.

2021 Drill Highlights:

  • CZ2021-01 returned the widest high-grade intercept to date on the project being 63.7 meters of 0.92% Nickel Equivalent (“NiEq”), equal to 2.46 g/t Palladium Equivalent (“PdEq”), with 0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and 0.04% Co as well as significant Pt and Au values, within 367.6 meters of continuous mineralization at 0.31% NiEq (or 0.83 g/t PdEq). See Table 1 for details.
  • CM2021-01 returned the longest mineralized intercept ever recorded in the Stillwater district with 728 meters of continuous sulphide mineralization at 0.27% NiEq, or 0.73 g/t PdEq, including contained intervals of successively higher grades:
    • 352.9 meters of 0.39% NiEq (or 1.04 g/t PdEq) with 0.52 g/t 3E (Pd, Pt, and Au), and 0.17% Ni, plus significant Cu and Co values;
    • 159.2 meters of 0.48% NiEq (or 1.29 g/t PdEq) with 0.77 g/t 3E, 0.18% Ni, plus significant Cu and Co values;
    • 50.2 meters of 0.54% NiEq (or 1.45 g/t PdEq) with 1.0 g/t 3E, 0.19% Ni, plus significant Cu and Co values; and
    • Shorter intervals of high-grade mineralization including 7.2 meters of 1.33 g/t Pd, 0.93 g/t Pt, and 0.24% Ni, plus significant Au, Cu, and Co values, for 1.02% NiEq (or 2.72 g/t PdEq).
  • Both holes are step-outs completed with the objective of expanding deposits delineated by the 2021 Mineral Resource Estimate announced on October 21, 2021:
    • CM2021-01 was one of six holes drilled in 2021 in the area between the DR and Hybrid deposits to step out from high-grade nickel sulphide-PGE mineralization identified in hole CM2020-04;
    • CZ2021-01 is one of two holes drilled in 2021 to step-out on the CZ deposit in the area of wide, high-grade mineralization returned in hole CZ2019-01.
  • Mineralization starts at or near surface in both holes.
  • Assay results are pending from the lowest portion of CZ2021-01, and from the remaining 12 holes drilled in 2021. Rhodium results are also pending on all holes.

Michael Rowley, President and CEO, commented, “These initial results from the first two holes of our 2021 resource expansion drill campaign provide the strongest demonstration to date of our ability to target highly mineralized zones at Stillwater West, with significant wide intervals reaching more than five times the cut-off grade used in our recent resource estimate. This is very clear evidence that our predictive geologic model, utilizing tools like deep penetrating induced polarization geophysics, is accurately and effectively guiding us to drill wide zones of higher-grade nickel-copper-cobalt sulphide mineralization (battery metals), enriched in palladium, platinum, rhodium (platinum group elements), and gold. In addition to driving increased size and grade in our planned resource update, our ability to target effectively as we step-out from known mineralization in a large magmatic system is delivering incredibly low discovery costs as we advance the project.”

“Our work to date has demonstrated the exceptional scale and potential of the mineralized system in the lower Stillwater Complex. These results confirm and refine that understanding with Chrome Mountain hole CM2021-01 returning nearly three-quarters of a kilometer of continuous mineralization from a site that is over seven kilometers west of the HGR deposit in the Iron Mountain area, where hole IM2019-03 previously held the record for highest grade-thickness. Both areas have additional very high grade-thickness intervals in drill results, as does the CZ deposit located between the two. All of this confirms our observation that the lower Stillwater Complex has an immense endowment of contained metal and yet is surprisingly underexplored, despite its location in a famously productive and well-mineralized American mining district. Our systematic approach to exploration has quickly delineated five resource-stage deposits that are open for expansion across the nine-kilometer core of the Stillwater West project and we will continue to focus on their expansion while also advancing earlier stage targets that continue across the 32 kilometers of prospective magmatic stratigraphy covered by the property. We look forward to announcing results from the remaining drill holes along with results of our 2021 IP expansion survey in the near term as they become available.”

Table 1 – Highlight Results from 2021 Expansion Drill Campaigns at the DR, Hybrid, and CZ Deposit Areas

Assays pending for rhodium and certain intervals denoted by *. Highlighted significant intercepts with grade-thickness values over 20 gram-meter PdEq are presented above. Grade thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using metals prices as follows (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.20% nickel equates to a copper value of 0.40%, or a palladium value of 0.53 g/t, using the above metal values. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.

Grade-Thickness

Grade-thickness values of the mineralized intervals continue to demonstrate the remarkable metal endowment of the lower Stillwater Complex, with both holes reported here being well above 100 gram-meter (“g-m”) palladium equivalent grade-thickness. CM2021-01 returned 530 g-m PdEq grade-thickness, which is a record high for the Stillwater Complex. For comparison, this equates to 596 g-m gold equivalent, 954 g-m platinum equivalent, or 199 %-meter nickel equivalent. Grade-thickness values are an exploration tool used for comparing the intensity of mineralization across different mineralized widths. A grade-thickness value of 10 gram-meter Pd is equivalent to 1 g/t Pd over 10 meters, or 10 g/t Pd over 1 meter and is considered economically significant. The adjacent J-M Reef deposit now mined by Sibanye-Stillwater averages approximately 34 gram-meter Pd and Pt1,2. Values over 100 g-m PdEq are considered exceptional, highlighting the strength of the mineralized system, and values of more than 250 g-m PdEq (or 281 g-m AuEq) are rare across the industry. To date, the Stillwater West project has returned 31 drill holes with over 50 g-m PdEq grade-thickness, including five with more than 250 g-m PdEq.

Upcoming News and Events

Group Ten is pleased to confirm that it will participate in the upcoming Vancouver Resource Investment, AME Roundup, and Prospectors and Developers Association conferences in Q1 2022.

About Stillwater West

Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 9.2-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Group Ten Metals Inc.

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

About the Metallic Group of Companies

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

Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: info@grouptenmetals.com Phone: (604) 357 4790

Web: http://grouptenmetals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

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

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

Figure 1 – 2021 Resource Expansion Drill Holes with Deposit Outlines over Drill Data and Geophysics (Conductivity)

Figure 2 – 2021 Resource Expansion Drill Holes with Deposit Outlines and Drill Data over Precious and Base Metals in Soils

Figure 3 – 2021 Mineral Resource Estimate over 9 KM Core Project Area with 3d Model of Ip Survey Results

SOURCE: Group Ten Metals Inc.



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Junior Mining Precious Metals

Dolly Varden Silver Intersects 1,532 g/t Silver over 1.22 Meters at Wolf Vein, 94 Meters Down Dip

VANCOUVER, BC, Dec. 20, 2021 /PRNewswire/ – Dolly Varden Silver Corporation (“Dolly Varden” or the “Company“) (TSXV: DV) (OTC: DOLLF), is pleased to announce drill results from regional exploration and reconnaissance drilling at its 100%-owned Dolly Varden Project located near tidewater in northwestern British Columbia, with particularly encouraging results from the Wolf Vein, as well as the identification of large, new porphyry related copper-gold system.

At the Wolf Deposit, drill hole DV21-273 tested the southwest projection of the Wolf Vein, 94m down plunge from the current Mineral Resources, intersecting 1,532 g/t Ag, 0.44 g/t Au, 2.11 % Pb and 1.07% Zn over 1.22m core length within a brecciated sulphide-rich quartz vein hosted within a broader pyrite stockwork breccia zone of 17.50m averaging 214 g/t Ag and 0.47% Pb. The current NI 43-101 Mineral Resource Estimate hosts 3.83 million ounces of silver at 296 g/t in the Indicated category at Wolf. It is located approximately two kilometers northwest of the 25.0 million ounces of silver in the Indicated Category and additional 10.5 million ounces of silver in the Inferred category at Dolly Varden’s Torbrit Deposit.

In other regional exploration drilling, Dolly Varden’s technical team is highly encouraged by long intervals of stockwork quartz with strongly anomalous gold (>100 ppb) over wide intervals (up to 303 meters) along with silver and copper at the Western Gold Belt Area. Hosted within early Jurassic volcanic rocks, this style of stockwork and alteration is analogous to numerous alkalic gold-copper deposits and mines in British Columbia. The Company plans appropriate geophysical surveys for porphyry-style mineralization and subsequent follow-up drilling in this area.

“This high-grade silver intercept at Wolf demonstrates the excellent exploration and resource expansion potential on the Property. The next phase of exploration drilling will prioritize connecting our historic mines and current deposits of the Dolly Varden Trend with the deposits at Homestake 5.4km to the northwest along the Kitsault Valley Trend that comprise the recently announced proposed acquisition from Fury Gold Mines,” said Shawn Khunkhun, CEO of Dolly Varden Silver. “Additionally, the strong indicator of porphyry related gold-copper-silver style indicators potentially the most significant exploration breakthrough on the Property in years”.

A total of 10,506m in 31 diamond drill holes were completed at Dolly Varden during the 2021 field season. Results have been received for 10 holes that tested five regional exploration targets on the Property including the Wolf Vein extension and Western Gold-Copper Belt. Assays will be announced in the near future for the 21 holes completed at the high-grade Torbrit and Kitsol Silver Deposits. The 21 near-Resource holes were drilled as part of a two phase program with the objective of expanding Resources as well as upgrading current Inferred Resources to Measured and Indicated Classification.

The 2021 drilling at Dolly Varden initiated the Company’s two-year strategy to aggressively expand and upgrade the Torbrit Silver Deposit and multiple satellite zones with the objective of advancing Dolly Varden to be the next high-grade silver mine in British Columbia.

Hole IDFrom
(m)		To
(m)		Length
(m)		Ag (g/t)Au (g/t)Pb (%)Zn (%)
DV21-273302.00319.5017.502140.470.06
including303.18304.401.2215320.442.111.07
including311.85315.803.953280.120.520.83
*true width is estimated at 85% of core length, using angle to core from oriented core data.

Table 1: Wolf Extension Exploration drilling results

Hole DV21-273 is also significant as it tested the prospective Hazelton volcanic rock that underlies the sedimentary units of the Upper Hazelton for the Wolf Vein extension. Discovering that the strong potassic alteration associated with silver mineralization within the volcanogenic Torbrit Deposit continues beneath the sediment suggests that the mineralizing system continues to the west of the 4.5 km long surface alteration anomaly. This opens up exploration potential of the entire bottom of the Kitsault valley north of Wolf towards the Property boundary and onto Homestake Ridge.

Figure 1: Wolf Vein DV21-273 section, looking northeast (CNW Group/Dolly Varden Silver Corp.)
Figure 1: Wolf Vein DV21-273 section, looking northeast (CNW Group/Dolly Varden Silver Corp.)

“Intercepting silver mineralization associated with potassic alteration in the older volcanic rocks underneath the sediment package within the fold axis of a regional syncline gives our team further reason to drill test several geophysical anomalies identified along the northerly trend towards the deposits at Homestake Ridge”, explained Rob van Egmond, Chief Geologist for Dolly Varden Silver.

Wolf is the northernmost deposit that comprises the current Mineral Resources at the Dolly Varden Project. Modelling of the epithermal vein style deposit indicates a stepped vein system, offset by steep faults. The hanging wall of the deposit has strong barium signature and the veins contain barite and quartz. There are historic underground drifts at Wolf but no historic production was reported.

Figure 2: Wolf Vein Core from DV21-273 at 312m depth showing pyrite matrix breccia within quartz breccia (CNW Group/Dolly Varden Silver Corp.)
Figure 2: Wolf Vein Core from DV21-273 at 312m depth showing pyrite matrix breccia within quartz breccia (CNW Group/Dolly Varden Silver Corp.)
Figure 3: Location Map (CNW Group/Dolly Varden Silver Corp.)
Figure 3: Location Map (CNW Group/Dolly Varden Silver Corp.)

Western Gold-Copper Belt

On the Western side of the Kitsault Valley, three holes (DV21-267, 268 and 269) tested the Red Point target with structures related to a gold in soil anomaly within the southern end of the Western Gold belt quartz, sericite, pyrite (QSP) alteration zone. Drilling intercepted wide zones of stockwork veins with strongly anomalous gold, silver and copper mineralization within Hazelton volcanic rocks. Proximal to intrusive rocks, this wide zone mineralization is analogous to other alkalic copper-gold porphyry related systems in British Columbia. In the Golden Triangle, these deposits include KSM, Treaty Creek, Saddle (GT Gold), Red Chris and Snowfield.

This Western Gold Belt is located on the west side of the Kitsault valley and trends from near the Dolly Varden Mine northward for several kilometers towards Homestake Ridge. Intrusive-related QSP alteration is associated with zones of increased silica stockwork and multi-phased breccias with pyritic matrix. This style of alteration, mineralization and brecciation is also common at other higher grade deposits in the Golden Triangle, including Homestake Ridge and Ascot’s past-producing Premier and Big Missouri mines, as well as Goliath Resource’s recent discoveries west of Dolly Varden. Results are as follows:

Hole IDFrom
(m)		To
(m)		Length
(m)		Au
(g/t)		Ag
(g/t)		Cu
(%)
DV21-2671.55170.10168.550.13
DV21-26726.0026.650.650.3513
including79.0080.001.001.1524
including81.8083.001.200.9550.07
including168.00170.102.100.33100.41
DV21-2682.36186.80184.440.17
including66.0072.006.000.576
and192.06192.560.501280.94
DV21-2692.6585.0082.350.17
DV21-269127.00430.00303.000.15
including289.00290.121.121.1
including316.00317.001.001.12
*true width has not been determined as there is insufficient drilling to model the orientation of the broad mineralization and alteration zone

Table 2: Red Point – Combination, Western Gold Belt results

Figure 4: DV21-267, 268 and 269 section looking north (CNW Group/Dolly Varden Silver Corp.)
Figure 4: DV21-267, 268 and 269 section looking north (CNW Group/Dolly Varden Silver Corp.)
Figure 5: DV21-267 Gold bearing quartz stockwork and breccia veins (CNW Group/Dolly Varden Silver Corp.)
Figure 5: DV21-267 Gold bearing quartz stockwork and breccia veins (CNW Group/Dolly Varden Silver Corp.)

Medallion

Three holes were completed at the Medallion Prospect (DV21-264, 265 and 266) located at the southern end of the Project. Historic trenches and small adits explored narrow zones of veining within weakly altered volcanic rocks hosting silver, copper lead and zinc mineralization. No significant results were returned.

Syndicate

Diamond drill holes DV21-270 and 271 were drilled from the same setup as Medallion to test the Syndicate Target. A near-surface vein in DV21-270 returned 126 g/t Ag and 1.31 g/t Au over a core length of 1.10m.

TargetHole IDFromToCore Length
(m)		Ag (g/t)Au (g/t)
SyndicateDV21-27052.453.51.101261.31
SyndicateDV21-271No significant results
*true width has been estimated at between 80% to 90% of core length based on limited drilling for geometry modelling

Table 3: Syndicate results

Silver Horde

One drill hole tested the potassic alteration zone at Silver Horde, approximately 900m north of Wolf. It was collared in sediment cap rocks to test the volcanic units down plunge of previously encouraging drill results. Hole DV21-272 intersected two zones where diffuse sheeted veinlets were found carrying dark silver sulphosalts. The structure returned 9.0 meters core length averaging 126.7 g/t Ag within the volcanic host, plunging towards the axis of the valley syncline.

TargetHole IDFromToCore Length (m)Ag (g/t)
Silver HordeDV21-27241509.0126.75
including4142.51.5256
Silver HordeDV21-272202.52030.5249
*true width has not been determined as there is insufficient drilling to model the orientation of the diffuse sheeted veins

Table 4: Silver Horde results

Hole IDAreaEasting
NAD 83		Northing
NAD 83		Elevation
(m)		AzimuthDipDepth
DV21-264Medallion4671816168686514210-50203
DV21-265Medallion4671996168813457193-46341
DV21-266Medallion4672206169100444193-50501
DV21-267Red Point466637617247673556-50356
DV21-268Red Point466637617247673556-75425
DV21-269Red Point4666376172476735236-50430
DV21-270Syndicate466196617672145380-47493
DV21-271Syndicate466196617672145380-80107
DV21-272Silver Horde466760617456237755-50365
DV21-273Wolf4670936173630387120-55449

Table 5: Exploration portion of 2021 program: drill hole location data

Quality Assurance and Quality Control

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

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

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed and a 500 gram split is pulverized to minus 200mesh. Multi-element analyses were determined by Inductively–Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.

Qualified Person

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

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on exploration in northwestern British Columbia. The Dolly Varden Project consists of the namesake Dolly Varden silver property that hosts a unique pure silver mineral resource as well as the nearby Big Bulk copper-gold porphyry property. The Dolly Varden Project is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other high-grade deposits (Eskay Creek, Brucejack).

Dolly Varden has recently entered into an agreement with Fury Gold Mines to acquire the Homestake Ridge Project adjacent to the current Dolly Varden property to consolidate the Kitsault Valley Gold-Silver mineralization trend into one large, high-grade precious metals project with further exploration upside potential. The Big Bulk property 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 relates to, among other things, completion of the Offering, 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, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our beliefs about the unexplored portion of the property. These forward-looking statements are based on management’s current expectations and beliefs 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”), which is available on SEDAR at www.sedar.com. The risk factors identified in the MD&A 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.

Dolly Varden Silver Corp. Logo (CNW Group/Dolly Varden Silver Corp.)
Dolly Varden Silver Corp. Logo (CNW Group/Dolly Varden Silver Corp.)
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SOURCE Dolly Varden Silver Corp.

Categories
Emx Royalty Energy Junior Mining

Update on EMX’s Balya North Royalty Property

Vancouver, British Columbia–(Newsfile Corp. – December 20, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update on its Balya North lead-zinc-silver royalty property in northwestern Turkey. EMX retains an uncapped 4% NSR royalty on the Balya North development project. EMX representatives recently visited the Balya North operations to tour the project area and meet with operator Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”).

Esan has informed EMX that the development ramps to be used for production at Balya North are nearly complete with the first ramp having reached a length of 520 meters at an 8% grade to access the uppermost bodies of mineralization in the Balya North deposit (approximately 50 meters depth below the surface). A ventilation shaft that will also serve as a secondary escapeway (for safety purposes) has also been completed and initial production is underway.

During ramp development, approximately 18,000 tonnes of lead-zinc-silver mineralized material were intersected by the workings and have been stockpiled on site. This material is now being processed at Esan’s nearby mill facility.

In addition, Esan has multiple drill rigs on site, testing the down-plunge extensions of the Balya North deposit and infill drilling the mineralized zones to improve their level of confidence. Esan has informed EMX that approximately 35,000 meters of exploration drilling have been completed thus far in 2021, and an additional 5,000 meters are planned to be completed in the current campaign. The new drilling is materially expanding the zones of known mineralization along trend and at depths in the system(s) (see Drilling Update below).

In addition to the development work and ongoing drill programs, Esan is also reconfiguring portions of the processing lines at its nearby milling and concentrating facilities to accommodate the feed of new material from the EMX royalty property. This includes modifications to the lines that feed the fine material stockpiles and the addition of an automated sampler to collect representative samples of the Balya North materials as they are fed to the processing systems. It is expected that this work will be completed in early 2022.

Drilling Update. Highlights from recent drilling completed by Esan are shown in Table 1 below. These include several notable intercepts from deep levels in the system (depths of greater than 700 meters), which show that mineralization at Balya North continues to be robust at depth and remains open in multiple directions. Intercepts from these depths have not yet been included in the in-house resource models, as more drilling will be needed to define the extents and limits of mineralization at deep levels.

Also evident were multiple thick intervals of mineralization at shallower levels in the Balya North deposit. Like other parts of the system(s), silver tends to be highly enriched in lead-rich (galena) zones of mineralization, and this is nicely demonstrated by the recent drill results. Esan has informed EMX that it intends to continue its aggressive drill program in 2022.

Table 1: Highlights from recent Balya North drilling

Drill HoleFromToLength (meters)*Pb %Zn %Ag ppm
BKS-005830.68376.48.610.1696.82
BKS-020388.5408.620.18.053.61101.15
BKS-031783.5787.43.910.305.08342.00
BKS-057313.6330.6175.834.9361.28
BKS-057343.4366.923.516.245.24243.08
BKS-066570.7596.225.52.803.51163.91

*as measured in drill core; true widths not reported and remain unknown

Balya North Royalty Property Overview. EMX retains a 4% net smelter return (“NSR”) royalty on its Balya North royalty property, which is situated in the historic Balya mining district of northwestern Turkey. Mining at Balya has taken place since antiquity, with several generations of historical operations. The district contains extensive zones of shear-zone hosted and carbonate replacement style (“CRD”) lead-zinc-silver mineralization in addition to skarn and more copper-rich styles of mineralization developed at depth.

Esan acquired the EMX royalty property at the end of 2019 (See EMX news release dated January 7, 2020) and is a private Turkish company that operates 40 mines and eight processing plants. Most importantly, Esan operates a lead-zinc mine and flotation mill on the property immediately adjacent to EMX’s Balya North royalty property.

EMX congratulates Esan on its ongoing development progress at Balya North and looks forward to additional updates as production progresses.

Comments on Sampling, Assaying, and QA/QC. ESAN’s drill samples were collected in accordance with industry standard best practices. The samples were submitted to ALS laboratories in Izmir, Turkey and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for sample preparation and analysis. Silver and base metal analyses are determined by four acid digestion and ICP MS/AES techniques. Over-limit analyses are performed by atomic absorption, and in some cases (>30% Pb and >30% Zn) by volumetric titration techniques. ESAN performs routine QA/QC analyses on their assay results, including the utilization of certified reference materials, blanks, and duplicate samples.

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

About EMX. EMX is a precious, 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, as well as 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 Chief Executive Officer
Phone: (303) 973-8585
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
(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”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s 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 September 30, 2021 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108010

Categories
Base Metals Energy Junior Mining

Nevada Copper Provides Operational Activity Update

YERINGTON, Nev., Dec. 09, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today provided an operations update and overview of the H2 2021 milestones achieved at its underground mine at the Company’s Pumpkin Hollow Project (the “Underground Mine”).

The Company has experienced a significant reset and demonstrated significant operational and corporate improvements in H2 2021. These milestones provide a foundation for an accelerating pace of operational ramp-up.

“I am very pleased with the progress the Company has made in H2 of this year,” stated Randy Buffington, President and Chief Executive Officer. “Our mining rates, a key metric for ramp-up production advancement, have been increasing month over month. We are now seeing the efficiencies generated from the advanced management systems implemented in Q3 of this year. The building blocks are in place for increased mining rates and production as we move into H1 of next year.”

Operations

  • Equipment availabilities materially improved: 14% improvement from 65% to 74% in total fleet availability since the beginning of Q4, 2021. Additional equipment expected to be added in Q4, 2021.
  • Contractor performance improved: Productivity increased by 31% from 1.75 to 2.29ft per person shift between October and November resulting in substantial improvement in operating efficiency as well as cost reductions.
  • Increased mining development rates: Sequential monthly increases in development rates, a key leading indicator of production ramp-up, delivered since management changes in August 2021. Rates achieved in December are currently 50% higher than August. Commissioning of additional bolters planned to deliver a further 50% increase in development rates in the coming weeks.
  • Consistent mill performance: Milling operations have performed well throughout 2021, with batch processing reaching 4700tpd, recoveries over 90% and concentrate quality performing in-line with design specifications.
  • Dike crossing completion: First crossing of the water bearing dike was completed in August 2021, and the second crossing is anticipated to occur later this year. No further crossings are required during the ramp up to 3ktpd expected in H1, 2022.
  • Ventilation infrastructure in place: All underground ventilation infrastructure was completed in H1 2021. Final addition of surface ventilation fans remains on schedule, with commissioning planned to be completed in January, 2022, with ventilation no longer expected to be a constraint to production rates thereafter.

Corporate

  • Transformational financing completed:
    • Closed C$125m public equity offering in November 2021, with a significant portion of the funds provided by select mining sector corporates. This was further complemented by broad participation from other new and existing institutional investors.
    • The upsized financing provides additional liquidity to fund exploration and expansion studies at the Company’s open pit project (the “Open Pit Project”) in addition to the ramp-up of Underground Mine.
  • Significantly enhanced balance sheet flexibility:
    • Long term debt reduced by approximately 30% during Q4, 2021.
    • First debt repayment under the Company’s senior credit facility with KfW-IPEX Bank deferred by 2 years to July 2024.
  • Hiring of key management positions:
    • Joining as Chief Executive Officer on October 6, 2021, Randy Buffington brings substantial operational and development experience in both underground and open pit mines in Nevada and internationally.
    • 8 key operational management positions added in H2 2021, resulting in operational improvement and enhanced planning and execution systems.
  • Development
    • Developed program for Open Pit Project resource extension and feasibility study: The budget and execution plan have been defined and the Company expects that drilling to support the updated open pit feasibility study will commence in Q2 2022, potentially sooner depending on drill rig availability.
    • Open Pit Project Decarbonization Program Advanced:
      • Solar power studies were completed in 2021, which show:
        • Pumpkin Hollow benefits from ample sun and land to support a large solar project with the capacity to meet a significant portion of the Open Pit Project’s power requirements;
        • The solar potential at the site is up to 200MW;
        • The already low grid power costs in Nevada could be further reduced through an on-site solar plant; and
        • A third-party solar project provides an option to remove upfront power infrastructure costs from the Open Pit Project.
      • Electric fleet study for mobile mining equipment fleet electrification at the Open Pit Project was completed by US-based energy and sustainability consultant Sprout Energy, which concluded:
        • Scope 1 carbon emissions over the life of mine could be reduced by approximately 10% of total estimated emissions; and
        • Fuel and maintenance costs could be reduced by up to approximately US$200m over the life of mine.
  • Exploration
    • Undertook further property reconnaissance on the Copper Ridge Area, which is located to the northeast of the Open Pit.
    • Defined target exploration plan: Initiated further refinement and interpretation of the newer geophysics in key areas such as Tedeboy, Tedeboy porphyry and Copper Ridge.
    • Initial grab sampling and mapping of these areas have resulted in areas with high grade copper samples. Surface mapping and sampling are planned for Q1 of 2022, supporting the commencement of drilling in Q2 2022.

Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to 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.

NEVADA COPPER CORP.
www.nevadacopper.com

Randy Buffington, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute forward-looking information 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 statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up objectives, exploration activities, equipment installation and the completion of a new feasibility study.

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 the COVID-19 pandemic 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; labor 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; 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, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information or statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. 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 statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.

Nevada Copper 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.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Repatriates Its Portfolio in the Geraldton Gold Belt in Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – December 1, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the repatriation of its 3 projects in the Beardmore-Geraldton Greenstone Belt (“BGGB”) in Ontario, Canada. In February 2021, Riverside offered the sale of its portfolio to iMetal Resources Inc. (“iMetal”). The Purchase Agreement was contingent upon a series of conditions which were not completed. At this time both parties have mutually agreed to dissolve the transaction and Riverside has now retained 100% ownership of the project portfolio of: Oakes, Longrose and Pichette located in the well-endowed and prolific BGGB. The recovery of these projects occurs at an opportune time for Riverside, particularly since the region is experiencing a renaissance in mining activity. Specifically, the recent launch of construction at the Greenstone Mine (an Equinox Gold / Orion Joint Venture) near the town of Geraldton, which bodes extremely well for Riverside’s own projects which are located along the trans-Canada highway and in close proximity to the Greenstone Mine.

During the past 7 months Riverside acted as exploration operator completing a summer field program. During the agreement with iMetal, Riverside more than doubled the induced polarization survey (IP) grid as well as conducted a focused sampling and mapping program along the survey grid at the Oakes Gold Project.

Highlights of the BGGB portfolio can be found in the press release dated February 10, 2021, which summarizes the previous work done at Oakes and also Riverside’s work on the three properties (see Figure 1).



Figure 1: Riverside’s 3 projects in the Geraldton-Beardmore gold belt shown in red along 90 km trend

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_002full.jpg

Riverside’s President and CEO, John-Mark Staude: “Regaining control of this three-project portfolio of further de-risked gold properties near the developing Greenstone Gold Mine provides Riverside with a unique opportunity to advance exploration ourselves. Drill target generation progressed this summer, we have a drill permit in hand and will start with further exploration work at Oakes with a view towards drilling initial targets there during 2022.”

Oakes Project:

Riverside acquired the BGGB portfolio in 2019, through a staking program with the opportunity to secure open ground in a prolific gold belt in northwestern Ontario adjacent to the Greenstone Gold Mine, a large gold resource and near-term future mining operation. Since 2019, Riverside’s technical teams have progressed and defined a large undrilled exploration target through the compilation of historical work including high grade gold drill and trench results, and an IP survey. Riverside controls a total of 55 km2 (5,544 hectares) at the Oakes Project, which is defined as being the most advanced project within the recovered BGGB portfolio. The latest exploration work included defining drill targets over a 2.3 km long IP anomaly corresponding to approximately 30% of the property explored as presented below.

The 2021 IP survey included a total of 12 line-km with the intention to identifying continuity to the east and west of the known mineralized system. These new geophysical results show an increased anomaly from 600 m length to a total of 2.2 km with continuity of the anomaly from the 2010 IP1 grid to the 2021 grid extension. Recent field work from Riverside’s team aimed to verify the IP anomalies on the ground looking for any potential associated evidence of mineralization and collect samples (pending).

At least three targets have been described as presented below, all of them drill-ready:

  • High Grade (“HG”) target reporting up to 31.9 g/t Au at surface (see press release July 29, 2019)
  • Brinklow target reporting a sample of 0.8 g/t Au
  • Crib target with sample assays pending

The high chargeability anomalies are not restricted along strike, neither to the west nor the east side, leaving the possibility for extension beyond the 2.2 km three parallel chargeable corridors. This will allow for additional exploration follow up in 2022 heading toward drilling.



Figure 2: Normalized chargeability (IP) combined 2010 (Golden Chalice, 2010) and Riverside 2021 covering about 30% of the Oakes Project. Anomalies presented as targets are understood to be related to geological features/variations, all of interest potentially related to mineralization. Overall, IP anomalies strike at Az100. Assay results are from Riverside’s field work in 2019.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_003full.jpg

Moving forward, Riverside wishes to advance the project with a drill program. De-risking has allowed the company to build confidence for additional project investment. The company is also very pleased to have the projects back into its current portfolio, setting up new opportunities to move ahead in a belt that sees substantial mining investment now with the Equinox Gold / Orion Mine Finance partnership on building a large new gold mine operation at Greenstone near the Company’s property holdings.

Options Grant

On November 16, 2021 the Company granted 1,000,000 incentive stock options (the “Options”) to Directors, Officers and Consultants of the Company. The Options are exercisable at $0.16 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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.

All data represented here from historical reporting, including but not limited to, drill results and resource estimates are historical in nature and require caution readers as the vintage work.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 72M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

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

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

1 Golden Chalice, 2010

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106007

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Executes Option Agreement to Sell Five Battery Metals Assets in Sweden

Vancouver, British Columbia–(Newsfile Corp. – August 30, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement (the “Agreement“) to sell five battery metals projects in Sweden (the “Projects“) to Swedish Nickel Pty. Ltd. (“Swedish Nickel“), a wholly owned subsidiary of Bayrock Resources Limited (“Bayrock“). Bayrock is an Australian unlisted public company and has a pre-existing nickel mining asset in Sweden. In return for the Projects, the Agreement provides EMX with up to a 6% equity interest in Bayrock, annual advance royalty payments, 3% Net Smelter Return (“NSR“) royalty interests, work commitments and other considerations.

The nickel-copper Projects are located in northeastern Sweden in the Fennoscandian Shield (see Figure 1), which is host to numerous nickel deposits in Sweden, Finland and western Russia. The Projects each contain drill-defined zones of nickel-copper sulfide mineralization developed in and around mafic to ultramafic intrusions (magmatic sulfide-style mineralization). These zones of mineralization are also variably enriched in cobalt and platinum-group-elements (PGE), key metals used in current battery technologies. Most of the Projects’ occurrences and deposits were discovered in the 1970’s and 1980’s, with only limited and incomplete histories of follow-up exploration. See www.EMXroyalty.com for further information.

The Agreement with Swedish Nickel/Bayrock represents another example of EMX’s execution of the royalty generation aspect of its business model. EMX began exploration programs for nickel-copper-cobalt-PGE deposits in the Nordic countries in 2016, at a time of lower battery metal prices and when there was little commercial interest in these types of projects. Improvements in the battery metals markets in recent years have led to a resurgence in interest in battery metals projects, especially in stable political jurisdictions such as the Nordic countries.

Commercial Terms Overview. In accordance with the Agreement, Swedish Nickel can acquire 100% interests in any or all of the Projects through the issuance of cash or shares to EMX and performance of work on individual projects during a 36 month (3 year) option period, subject to the following terms (all dollar amounts in AUD):

  • Upon execution of the Agreement, EMX will receive $62,184 in cash.
  • Bayrock will raise a minimum of $6 million by the first anniversary of the Agreement and issue EMX between 5 and 6% of Bayrock shares on a fully diluted basis, subject to certain conditions. Alternatively, Swedish Nickel can make a one-time cash payment of $600,000 in lieu of the obligation for issuance of Bayrock shares to EMX.
  • Swedish Nickel will expend a minimum of $250,000 per project in the first 18 months of the Agreement, and another $250,000 per project in the second 18 months of the Agreement; for a total of $500,000 per project by the 3rd anniversary of the Agreement.

After satisfying the work commitments and exercising the option on any or all of the Projects, Swedish Nickel will grant EMX royalty interests with annual advance royalty (“AAR“) payments and other considerations on each of the Projects for which an option is exercised:

  • EMX will receive a 3% NSR royalty interest in each optioned project. On or before the earlier of the sixth anniversary of the Agreement or delivery of a Feasibility Study, Swedish Nickel has the option to repurchase 1% of the EMX NSR royalty on any Project by paying EMX $1,500,000.
  • EMX will receive AAR payments of $25,000 on each optioned project commencing on the third anniversary of the Agreement, with the AAR payment increasing by 10% each year.
  • Payments of $600,000 payable in cash or shares, will be made to EMX upon the delivery of a Feasibility Study on any of the Projects.
  • Closing is subject to approval by the ASX Stock Exchange.

Overview of the Projects. The Projects are situated within a belt of mafic-ultramafic intrusive complexes that straddle the Sweden-Finland border. This belt of intrusions is host to multiple nickel-sulfide deposits such as the Kevitsa and Sakatti deposits in Finland. Each of the EMX Projects included in the Agreement contain historical drill defined zones of nickel copper mineralization that also show variable enrichments in cobalt and PGE.

Kukasjarvi Project. Kukasjarvi has a geologic setting typical of many magmatic sulfide deposits, where sill-like mafic to ultramafic rocks have intruded graphitic and sulfide bearing sedimentary rocks. Magmatic sulfides at Kukasjarvi were discovered by Boliden AB in the 1970’s while tracing mineralized boulders found in the area. Twelve historical diamond holes were drilled for a total of 2,400 meters, and a historical mineral resource for Kukasjarvi was defined[1]. The deposit is believed to be hosted within a metamorphosed ultramafic cumulate rock related to larger volumes of mafic gabbros mapped in the area. The deposit remains poorly delineated (i.e. incompletely drilled), and high Cu:Ni ratios suggest that the currently defined mineralization is distal in the system(s).

Notträsk Project. Notträsk is a layered mafic intrusion of gabbro-norite-peridotite with nickel copper mineralization that was discovered in the 1970’s when road construction exposed an 80 meter thick section of sulfide rich breccias and massive sulfide accumulations. The sulfide mineralization occurs near the base of the intrusive complex, but subsequent exploration programs focussed on mineralization at higher levels within the intrusive complex. Only a few of the historical holes penetrated the basal contact, which represents the primary exploration target and remains largely untested. EMX also sees considerable exploration upside in the apophyses and offshoots of the main intrusive complex which could contain “conduit” type sulfide targets.

Vuostok Project. The Vuostok project is the westernmost of the Projects, located in the Skelleftea mining region of Sweden. Nickel-copper mineralization at Vuostok was discovered in the 1940’s after prospectors followed a trail of mineralized boulders that were carried by glaciers up to 55 kilometers to the southeast[2]. Mineralization at Vuostok mainly occurs along the basal contact of a gabbro sill intruded into granitic country rocks. After discovery, several campaigns of drilling delineated shallow bodies of nickel-copper sulfide mineralization. Many step-out drill holes also intersected masses of nickel-rich sulfide mineralization which appears to be widespread in the gabbroic intrusive complexes. Multiple conductive geophysical anomalies remain untested.

Fiskelträsk Project. Similar to Kukasjarvi, Fiskelträsk is a gabrroic to gabbronorite intrusion emplaced into sulfide-bearing sedimentary rocks. The Fiskelträsk deposit was discovered by Boliden AB during the 1970’s, which drilled eleven holes for a total of 1,600 meters. The drill data were utilized by Wiking Minerals AB to estimate a historical resource in 2014 that has been cited in multiple publications on nickel-copper deposits in the region. The mineralization at Fiskelträsk is enriched in cobalt, and although not analyzed during the 1970’s exploration programs, subsequent studies showed anomalous PGE values which need follow-up work.

Skogträsk Project. Nickel-copper mineralization at Skogträsk was identified and drilled by the Swedish Geological Survey (“SGU“) in 1969-1973. Eleven shallow diamond drill holes by the SGU intersected disseminated and “net-textured” styles of sulfide mineralization at the basal contact of a gabbro-norite-pyroxenite-peridotite intrusion. As was the case at Kukasjarvi and Fiskelträsk, the mafic-ultramafic intrusions at Skogträsk were emplaced into graphitic and sulfide-rich sediments. In 2014 Boss Resources Ltd. conducted electromagnetic geophysical surveys at Skogträsk and drilled two holes totalling 491 meters. One of the holes intersected a significant thickness (~20 meters) of nickel-copper-bearing sulfide mineralization at the basal contact of the intrusive complex, and electromagnetic geophysical data show that the mineralization may extend for several hundred meters along strike. There was no follow-up to the 2014 drill program and multiple geophysical anomalies remain untested on the property.

Comments on References to Historical Drill Results and Resource Estimates, and Nearby Mines and Deposits. EMX has not performed sufficient work to verify the Projects’ historical drill results or the published historical resource estimates. The Company is not treating the historical estimates as current mineral resources but considers them as reliable and relevant based upon independent field reviews, including inspections of historical drill core. Additional work to verify or upgrade the historical estimates as current mineral resources would include a) check assaying of historical assay results, b) confirmation drilling, and c) review/updating of the geologic interpretations under the supervision of a Qualified Person. However, there is no guarantee that the historical resource estimates will be updated as current mineral resources with further work.

The nearby mines and deposits discussed in this news release provide context for EMX’s Projects, which occur in similar geologic settings, but this is not necessarily indicative that the Projects host similar tonnages or grades of mineralization.

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

About EMX. EMX is a precious, 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 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 Chief Executive Officer
Phone: (303) 979-6666
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”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s 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 year ended June 30, 2021 (the “MD&A”), and the most recently filed Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.



Figure 1. Location map for the Projects and Prospective Mineral Belts.

To view an enhanced version of Figure 1, please visit: 
https://orders.newsfilecorp.com/files/1508/94715_0e07756a04bf084c_002full.jpg

[1] Papunen, Heikki, and Gorbunov, eds., 1985, Nickel-Copper Deposits of the Baltic Shield and Scandinavian Caledonides, Geological Survey of Finland, Bulletin 333.

[2] Grip, E., 1955, Tracing of glacial boulders as an aid to ore prospecting in Sweden, Economic Geology, v. 48, p. 715-725.info

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Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Royalty Grants Incentive Stock Options

Vancouver, British Columbia–(Newsfile Corp. – August 19, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) announces that pursuant to the Company’s Stock Option Plan, incentive stock options (the “Options”) to purchase an aggregate of 500,000 common shares, exercisable at a price of $3.66 per share for a period of five years, has been granted to certain directors, and a consultant of the Company.

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 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 Chief Executive Officer
Phone: (303) 979-6666
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93798

Categories
Breaking Junior Mining Precious Metals Uncategorized

Labrador Gold Intersects 44.08 g/t Gold Over 4.28 Metres at Big Vein, Kingsway Project


TORONTO, Aug. 18, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Four holes K-21-26, -33, -36 and -39 all contained intervals grading more than 15g/t Au. Hole K-21-39 intersected 44.08 g/t Au over 4.28m from 49 metres which represents a “metal factor” (grade x width) of 188.7 g/t Au x m*, the highest value yet on the Kingsway Property. This intersection included 1.02m grading 81.64 g/t Au and 1.03m grading 96.47 g/t Au and contained 91 grains of visible gold. Hole K-21-36 intersected 15.02 g/t Au over 0.74m from 8.84m. Hole K-21-33 intersected 40.85 g/t Au over 0.4m from 56.15 metres and hole K-21-26 intersected 15.55 g/t Au over 0.5m from 235 metres. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below. *The width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.

Table 1. Assay highlights

HoleFrom (m)To (m)Length
(m)		Au (g/t)Zone
K-21-3949.0053.284.2844.08HTC
including50.3651.381.0281.64
including52.2553.281.0396.47
K-21-367.7912.004.213.64Big Vein
including8.849.580.7415.02
K-21-337.008.001.001.00Big Vein
and50.5051.000.501.04HTC
and53.5054.000.501.55
and56.1556.550.4040.85
K-21-329.0510.121.071.03Big Vein
and62.0067.505.502.21HTC
K-21-2857.5058.501.001.12Big Vein
and175.00176.001.003.17HTC
K-21-2726.0033.007.001.27Big Vein

and46.0051.005.001.31
and70.0071.001.001.14
and105.00106.001.001.28
and115.00117.002.007.43
and121.00122.001.002.65
and128.00129.001.005.07
K-21-2671.0072.001.001.12Big Vein
and235.00235.500.5015.55HTC
K-21-2513.3014.401.101.01Big Vein
and18.0020.002.001.65
and43.0044.001.001.19
K-21-2212.0013.001.001.70Big Vein
K-21-2133.0036.003.002.46Big Vein
and43.0044.001.001.73

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

“The intersection of the near surface high grade gold mineralization in Hole K-21-39 has the highest-grade x width value of 188.66g/t Au x m obtained so far from our drilling at Kingsway. This is significantly better than the previous high of 138.28 g/t Au x m returned from Hole-21-31 and continues to demonstrate the potential for high-grade intercepts at the Big Vein target,” said Roger Moss, President and CEO of the Company. “Three drills continue to explore Big Vein with step out drilling along strike to the southwest and drilling of the high-grade HTC Zone at depth.”

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a0e36f71-b136-4fe3-bfa6-0afa6bfc41c9

https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad000b6-616d-4947-9fa0-8afb6876c7a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/18dc2fe4-4bd2-4214-8270-ca69f8358004

Table 2. Drill hole Collar details

Hole IDEastingNorthingAzimuthDipTotal depth
K-21-3966159654352189048122
K-21-36661596543521812049119
K-21-33661596543521810552157
K-21-32661596543521810557170
K-21-28661562543524413060284
K-21-26661562543524416060266
K-21-25661442543509713045248
K-21-24661562543524432845269
K-21-23661562543524414860233
K-21-22661596543521813045212
K-21-21661603543524912045212.5

Big Vein target

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

The ongoing 50,000 metre drill program has tested Big Vein over approximately 200 metres of strike length of the 400m surface exposure and to vertical depths of 175 metres. Drilling has produced visible gold in 11 drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

QA/QC

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

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

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

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $35 million in working capital and is well funded to carry out the planned program.

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

The Company has 151,472,206 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

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

Or visit our website at: www.labradorgold.com

Twitter @LabGoldCorp

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

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

Categories
Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Acquires Royalty on Caserones Copper-Molybdenum Mine in Northern Chile

To purchase the Caserones Royalty, EMX has formed a 50%-50% partnership with Altus Strategies Plc (“Altus” (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) to acquire an effective 0.836% NSR royalty for US$68.2 million (see below for additional acquisition details). EMX and Altus will each control an effective 0.418% royalty interest and will each be responsible for $34.1 million of the purchase price.

Vancouver, British Columbia–(Newsfile Corp. – August 17, 2021) –  EMX Royalty Corporation (NYSE American: EMX) (TSX: EMX) (FSE: 6E9) (the “Company“, or “EMX“) is pleased to announce that it has entered into an agreement dated August 16th, 2021 to acquire an effective 0.418% Net Smelter Return (“NSR“) royalty on the operating Caserones Copper-Molybdenum Mine (the “Caserones Royalty“) located in northern Chile for US$34.1 million in cash. Closing is anticipated to take place in two phases with both closings being completed by September 1st, 2021. In completing this transaction, EMX expects immediate and long term cash flow from a large porphyry copper-molybdenum deposit in a top tier mining jurisdiction.

To finance its US$34.1 million portion of the US$68.2 million purchase price, the Company has entered into a Credit Agreement (the “Credit Agreement“) with Sprott Private Resource Lending II (Collector), LP (“Sprott“). The Credit Agreement will increase the Company’s current proposed US$10 million credit facility with Sprott, in connection with the Company’s recently announced transaction with SSR Mining (see Company News Release dated July 29, 2021), to US$44 million (the “Credit Facility“) to include financing for the Caserones Royalty acquisition. Further details of the Credit Agreement are provided below.

The acquisition of the Caserones Royalty represents an important strategic development for EMX, by further enhancing the Company’s royalty cash flow and long-term exposure to copper as a key metal for the global economy. Recognition of the opportunity directly resulted from EMX’s ongoing assessment work in the region and serves as another example of how the Company leverages its regional expertise in various jurisdictions around the world to identify value enhancing business opportunities.

Caserones Mine Overview. The Caserones open pit mine is developed upon a significant porphyry copper-molybdenum deposit in the Atacama Region of the northern Chilean Andean Cordillera, 162 kilometers southeast of the city of Copiapó, at an approximate elevation of 4,300 meters above sea level. The Mine is operated by SCM Minera Lumina Copper Chile SpA, which is indirectly 100% owned by JX Nippon Mining & Metals Corporation (“JX Nippon“).

Caserones is located at the southern end of the well documented Maricunga mineral belt and comprises an Early-Miocene porphyry system associated with a cluster of dacite porphyries and breccias intruding Palaeozoic granitic, volcanic, and metamorphic rocks. Caserones has a well-developed supergene enrichment profile of oxide copper and secondary chalcocite that overlies hypogene sulfide (chalcopyrite-molybdenite) mineralization.

Caserones produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant. In 2020 the mine produced 104,917 tonnes of fine copper in concentrate, 2,453 tonnes of fine molybdenum in concentrate, and 22,056 tonnes of fine copper in cathodes. The Caserones open pit has operated with an average waste: ore strip ratio of 0.47, has 17 years remaining in its current mine plan, along with excellent exploration potential. In a news release dated November 9, 2020, JX Nippon announced plans for “stepping up exploration efforts in areas around the mine” in an effort to expand production and extend the mine life.

Acquisition Details. The Caserones Mine is subject to a 2.88% NSR royalty provided for in a 2009 agreement between Minera Lumina Copper Chile S.A. as purchaser, and Compañía Minera Caserones (“CMC“) and Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California“) as vendors. CMC and SLM California originally staked the mineral claims that overlie the Caserones deposit, and ownership of the 2.88% NSR royalty is currently divided between CMC (32.5%) and SLM California (67.5%). EMX and Altus will each be indirectly purchasing a portion of the SLM California royalty. Under the 2009 agreement, the NSR interest will be reduced to 2% and 1% if the London Metal Exchange (“LME“) quoted copper price falls below US$1.25 and US$1.00 per pound respectively.‎

EMX and Altus have formed a Chilean company, Minera Tercero, Spa (“Tercero“), of which the EMX and Altus each own 50%. Tercero will purchase 43% of the issued and outstanding shares of SLM California through a Share Purchase Agreement with 16 shareholders of SLM California (represented by Leonel Polgatti Goycoolea, a shareholder) for US$68.2 million. Tercero will enter into a shareholder’s agreement with the selling shareholders of SLM California, that together with Tercero hold approximately 89% of SLM Californa’s issued and outstanding shares, to govern SLM California. SLM California’s sole purpose is to administer the company, pay Chilean taxes and distribute its royalty proceeds to the shareholders, including Tercero.

Sprott Credit Agreement. In order to finance its US$34.1 million portion of the US$68.2 million purchase price under the Share Purchase Agreement, the Company has entered into the Credit Agreement, which encompasses the previously proposed financing related to EMX’s recent transaction to acquire the SSR Royalty Portfolio. The senior secured Credit Facility is in the principal amount of US$44 million, which includes up to US $10 million which will be used to finance a portion of the purchase price of the SSR Royalty Portfolio.

Under the Credit Agreement, the Credit Facility matures on July 31, 2022, bears ‎interest at a rate of 7% per annum, and is secured by general security ‎agreements over the assets of the ‎Company and certain of its subsidiaries, and pledges of the shares of ‎certain of the Company’s ‎subsidiaries, who will, at Sprott’s election, also be guarantors of the loan. In addition to interest ‎payable, ‎the US$44,000,000 advanced under the Credit Facility was subject to an ‎original issue ‎discount equal to 4.61364% of the amount of the advance. Under the Credit Agreement, the ‎Company will be required to maintain minimum unrestricted cash of USD ‎‎$1,500,000. ‎

In conjunction with the Credit Agreement, Sprott ‎subscribed for ‎US$1,235,000 of common shares of the Company (“Common Shares“) at a deemed ‎price equal to a 10% ‎discount to the 5-day VWAP of the Common Shares on the NYSE American exchange immediately prior to July 12, ‎‎‎2021 of $US 3.0450, which resulted in the issuance of 450,730 Common Shares.

Summary. The acquisition of the Caserones Royalty provides immediate enhancement to EMX’s royalty cash flow and secures long-term proceeds from copper and molybdenum production in one of the world’s top mining regions. This transaction nicely compliments the Company’s growing portfolio of royalty interests in South America, which has become a recent emphasis in the Company’s growth strategy.

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

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

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
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-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. 

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s 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. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.