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   Gold/Mining/EnergyMining News of Note

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To: LoneClone who wrote (162647)1/7/2022 5:11:43 PM
From: LoneClone
   of 167608
Atalaya to Start Construction of an E-LIX Plant

Thursday, January 6, 2022 2:00 AM

NICOSIA, CYPRUS / ACCESSWIRE / January 6, 2022 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM) is pleased to announce that it has approved the construction of the first phase of an industrial-scale plant ("Phase I") that utilises the E-LIX System ("E-LIX"), which will produce high value copper and zinc metals from the complex sulphide concentrates sourced from Proyecto Riotinto.


  • Expected to unlock significant value from Atalaya's portfolio of polymetallic resources in the Riotinto District by materially increasing the recoveries of copper, zinc, lead and precious metals from complex sulphide ores.
  • Producing high-purity metals on-site will reduce transportation costs, treatment charges and penalties associated with producing and delivering conventional concentrates.
  • Expected to reduce Atalaya's carbon footprint through a reduction in land and sea freight and by utilising power from Proyecto Riotinto's planned solar plant.
Following its announcement on 28 October 2020, Atalaya has concluded a feasibility study that evaluated the technical and economic viability of producing cathodes from complex sulphide concentrates by applying E-LIX, a new electrochemical extraction process developed and owned by Lain Technologies Ltd ("Lain Tech") with the financial support of Atalaya. E-LIX is patented by Lain Tech.

Relative to conventional flotation techniques, the value creation potential of E-LIX offers a unique opportunity for Atalaya. As a result, as disclosed in the 28 October 2020 announcement, the Company has secured certain terms of exclusivity with Lain Tech for the use of E-LIX within the Iberian Pyrite Belt.

The E-LIX plant will dissolve the valuable metals contained within the concentrates. The testwork and system design allows for the dissolution of chalcopyrite while avoiding the passivation of particles. After copper or other metals are brought into solution, they can be recovered by conventional precipitation or solvent extraction followed by electrowinning ("SX-EW").

Phase I plant capacity has been designed to produce between 3,000 to 10,000 tonnes of copper or zinc metal per year depending on the ratio of copper to zinc in the concentrate feed.

The estimated capex for Phase I is €12 million and the design allows for unlimited capacity expansion through the addition of multiple lines in parallel. Atalaya will start the construction of the plant in the coming weeks and it is expected that the plant will be operational in 2022, including commissioning.

The decision to approve and construct the Phase I industrial-sized plant follows over six years of evaluation and de-risking work including continuous tests at the laboratory, a small pilot plant and finally a semi-industrial pilot plant.

A semi-industrial E-LIX pilot plant was constructed in late 2019 and has operated during 2020 and 2021 despite the challenges of the COVID-19 outbreak. The results of the pilot tests were included in the feasibility study and successive optimisation work. The long run continuous tests demonstrated the feasibility of leaching complex polymetallic concentrates with global recoveries of over 95% for copper and zinc while producing clean metal precipitates and/or high purity metals.

The use of the E-LIX System has shown the potential to unlock the significant value from the polymetallic sulphides contained within Atalaya's mineral resources, including:

  • The polymetallic deposits of San Dionisio, San Antonio, Masa Valverde and Majadales, all of which are located in the Iberian Pyrite Belt and within trucking distance of Proyecto Riotinto's modern 15 Mtpa processing facility.
  • The significant contained metal within these historical drilled resources from San Dionisio and Masa Valverde contain over 1.1 million tonnes of copper, 2.4 million tonnes of zinc, 1.7 million ounces of gold, over 110 million ounces of silver as well as additional lead resources. These figures are in addition to the over 1 million tonnes of copper reserve at Proyecto Riotinto's Cerro Colorado orebody and at Proyecto Touro.
  • Historical applications of differential flotation within the Iberian Pyrite Belt in Spain and Portugal have typically resulted in recoveries of 60 - 80% into concentrates for complex copper-zinc polymetallic sulphides, with even lower recoveries historically reported for lead, silver and gold. The use of hydrometallurgical systems, such as E-LIX, has demonstrated that base metal recoveries of over 90% can be achieved.
E-LIX is also expected to reduce Atalaya's carbon footprint. By producing high-purity metals on-site, Atalaya can reduce the transportation costs associated with delivering concentrates to smelters, avoid treatment and refining charges associated with converting concentrates into metal, and eliminate penalties associated with deleterious elements often contained within concentrates produced in the Iberian Pyrite Belt and elsewhere. The E-LIX plant is also expected to utilise the renewable energy that will be produced by Proyecto Riotinto's planned solar plant.

Alberto Lavandeira, CEO commented:

"The E-LIX System offers Atalaya a unique opportunity to unlock significant value from its portfolio of deposits that contain complex polymetallic mineralisation. Atalaya has worked together with Lain Technologies for many years in order to test, refine and demonstrate the E-LIX process, providing the Company with confidence in its potential. In addition to enhancing recoveries, E-LIX will eliminate penalties associated with deleterious elements and reduce the costs of transportation and energy, thereby improving the Company's carbon footprint."


SEC Newgate UKElisabeth Cowell / Tom Carnegie+ 44 20 3757 6880

4C CommunicationsCarina Corbett+44 20 3170 7973

Canaccord Genuity

(NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor / James Asensio+44 20 7523 8000

BMO Capital Markets

(Joint Broker)

Tom Rider / Andrew Cameron+44 20 7236 1010

Peel Hunt LLP

(Joint Broker)

Ross Allister / David McKeown+44 20 7418 8900

About Atalaya Mining Plc

Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. Atalaya's current operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a centralised processing hub for ore sourced from its wholly owned regional projects around Riotinto that include Proyecto Masa Valverde and Proyecto Riotinto East. In addition, the Group has a phased, earn-in agreement for up to 80% ownership of Proyecto Touro, a brownfield copper project in the northwest of Spain. For further information, visit

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

SOURCE: Atalaya Mining PLC

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To: LoneClone who wrote (162648)1/7/2022 5:13:02 PM
From: LoneClone
   of 167608
CMC Metals Identifies High Grade Silver-Lead-Zinc-Stibnite Samples at its Amy Property, British Columbia

Thursday, January 6, 2022 9:30 AM

VANCOUVER, BC / ACCESSWIRE / January 6, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCZF) ("CMC" or the "Company") is pleased to announce that recent exploration has identified high grade polymetallic samples at its Amy property in northern British Columbia. During a brief reconnaissance of the property at the end of the 2021 exploration season. The Amy Property is road accessible and located only 8 kilometers west of the Silvertip mine and mill owned by Coeur Mining Limited in the southern part of the Rancheria Silver District. The property was subjected to considerable exploration in the 1960-1985 period that included adit development, the discovery of the Amy prospect, exploration drilling, numerous mineralized areas, and an anomalous area in excess of 4 kilometers in strike length with widths from 300-1,300 meters.

Five grab samples were collected from various surface trenches and the adit dump on the Amy Property and resulted in the following assays:





































*Samples were also elevated in concentrations of copper, iron and manganese

Mr. Kevin Brewer, President and CEO noted, "We are very excited about the potential of the Amy Property, and we now intend to advance the project to the drill-ready stage. Historical work demonstrated that Amy has the potential to host a high-grade carbonate replacement deposit ("CRD"). The presence of stibnite in the sampling has pleasantly surprised us and we will be studying that closely. Our limited reconnaissance efforts confirmed that extensive mineralization exists at the surface and from material that came out of the adits. We are now intending to initiate a detailed compilation of the data relating to the property from extensive prospecting, geological mapping, geochemical sampling and geophysical surveys to prepare for advanced exploration efforts on the property in 2022. Permits will be filed with the Government of British Columbia for upgrading of the access roads to the site, trenching, and drilling.

Mr. John Bossio, Chairperson noted, "Being in such close geographic proximity to a silver-lead-zinc mill Amy has become a very attractive target for CMC. This project has the right geology, the right geophysics, and is in the right place. It has great exploration potential to host a significant high-grade silver-base metal deposit in the Rancheria Silver District. Our focus at Amy will be resource definition and medium- term development. Once we take the project to drill-ready stage we will entertain a possible joint venture as our main focus remains the flagship Silver Hart project."

Qualified Person

Kevin Brewer, a registered professional geoscientist in BC, Yukon and Newfoundland, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43101). He has approved the technical information reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities high graded polymetallic deposits in Yukon, British Columbia and Newfoundland and Labrador. Our silver-lead-zinc prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") in Yukon, and Rancheria South, Amy and Silverknife claims (the "Rancheria South Project") in British Columbia. Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).

On behalf of the Board:

"John Bossio"
John Bossio, Chairman

For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (604) 670-0019
Suite 615-800 West Pender St.
Vancouver, BC
V6C 2V6

To be added to CMC's news distribution list, please send an email to or contact Mr. Kevin Brewer at 604-670-0019.

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.

"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE: CMC Metals Ltd.

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To: LoneClone who wrote (162649)1/7/2022 5:14:22 PM
From: LoneClone
   of 167608
Thesis Gold Drills 27.00 Metres of 8.80 g/t AuEq at the Ridge Zone

Vancouver, British Columbia--(Newsfile Corp. - January 6, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis") or the "Company") is pleased to announce initial drill results from the Ridge Zone, completed during the Company's inaugural drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada.


  • Drill hole 21RDGDD009 returned 27.00 metres (m) core length of 6.78 g/t gold (Au) and 161.74 g/t silver (Ag), or 8.80 g/t gold equivalent (AuEq) at the Ridge Zone, including 10.00 m of 16.28 g/t Au and 179.96 g/t Ag or 18.53 g/t AuEq (Table 1).
  • Strong mineralization was initially identified from thirteen partially sampled 1980's exploration holes at the Ridge Zone.
  • Twelve 2021 holes were designed to test the Ridge Zone's gold and silver potential. Initial results from the first six holes demonstrate strong continuity of high-grade gold and silver mineralization from very near-surface to a vertical depth of 160 metres. The Zone remains open at depth (Figure 2).
  • Shallower Ridge Zone intercepts contain significant silver content (21RDGDD009, 27.00 metres of 161.74 g/t Ag - Table 1), potentially representing a higher level or more distal part of the overall epithermal system compared to Bonanza and other zones on the property.
  • The Ridge Zone gold and silver mineralization appears to coincide with an extensive silica alteration footprint, which spans over 600 metres along strike with locally outcropping silica ridges.

  • Table 1: Assay results from the Ridge Zone

    From (m)To (m)Interval (m)*Au (g/t)Ag (g/t)AuEq (g/t)**Zone
    21RDGDD004no significant results

    IP Geophysical Target
    21RDGDD005no significant results

    IP Geophysical Target
    incl. 147.00148.001.0040.30379.0045.04

    *Intervals are core-length. True width is estimated between 70-90% of core length.
    ** Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.

    Figure 1: Plan map of historical and 2021 drilling at the Ridge zone, including its proximity to Bonanza.

    To view an enhanced version of Figure 1, please visit:

    Figure 2: Cross-section showing logged alteration with gold and silver assay histograms.

    To view an enhanced version of Figure 2, please visit:

    Ewan Webster, President, and CEO commented, "These strong results from Ridge continue to show the significant potential of this sparsely drilled Zone. Our drilling has confirmed excellent continuity in the mineralization from near surface to over 160 vertical metres and the system remains open both at depth and along strike. The remainder of the pending holes from Ridge also intersected strong zones of alteration, typical of this Zone and others like the adjacent Bonanza Zone."

    Mineralization at Ridge remains open along-strike and to depth, and most of the mapped alteration zone remains to be drill-tested. Exploration holes 21RDGDD004 and 21RDGDD005 were planned to test geophysical anomalies and observed alteration at the surface. Although the holes didn't return significant results, they did encounter broad zones of alteration as expected. The massive silica encountered in holes 004 and 005 supports the interpretation of Ridge as a large hydrothermal alteration system and combined with other datasets, will help target more productive parts of the system. Elsewhere within the Ranch property unmineralized massive silica often flanks gold-bearing vuggy silica and leached zones. The Company anticipates additional strong results from the balance of the Ridge Zone's 2021 drilling and is continually improving its understanding of the mineralization at Ridge and elsewhere within the Ranch project area.

    Quality Assurance and Control

    Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

    The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

    On behalf of the Board of Directors
    Thesis Gold Inc.

    "Ewan Webster"

    Ewan Webster Ph.D., P.Geo.
    President, CEO, and Director

    About Thesis Gold Inc.

    Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project -

    For further information or investor relations inquiries, please contact:

    Dave Burwell
    Vice President
    The Howard Group Inc.
    Tel: 403-410-7907
    Toll Free: 1-888-221-0915

    Nick Stajduhar
    Thesis Gold

    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 press release.

    Cautionary Statement Regarding Forward-Looking Information

    This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR at The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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    To: LoneClone who wrote (162650)1/7/2022 5:16:34 PM
    From: LoneClone
       of 167608
    Kuya Silver Announces Initial Mineral Resource Estimate at Bethania Silver Project

  • Resource Drilling Focused on Shallow Mineralization Proximal to Bethania Mine Workings
  • 63% of Indicated Silver Equivalent* Resource Estimate Located Above Historical Production Adit (4670 Level)


    Vancouver, British Columbia--(Newsfile Corp. - January 6, 2022) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce its first-ever mineral resource estimate on the Bethania Silver Project (the "Project"), focused on the historical mine area where most of the Company's shallow diamond drilling took place during the 2021 Phase 1 exploration program. The resource estimate consists of 18 different veins all located within the original mine area and includes data collected from the 2021 ("Phase One") 5,000 metre diamond drilling program as well as previously collected underground rock chip samples. The mineral resource estimate is reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition ?Standards (2014) incorporated by reference in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The mineral resource estimate is solely focused on the main Bethania Mine area, with no mineral resource estimates for the newly identified and proximal Hilltop Zone.

    Highlights of the initial mineral resource estimate include:

  • Indicated resources of 5,858,521 oz silver equivalent* at an average grade of 451 g/t silver equivalent contained in 404,000 tonnes.
  • Inferred resources of 8,006,431 oz silver equivalent* at an average grade of 356 g/t silver equivalent contained in 700,000 tonnes.
  • Silver represents 74% of the gross metal value* in the Indicated resource and 70% of the gross metal value* in the Inferred resource.
  • Approximately 63% of the Indicated silver equivalent ounces are located above the main historical production adit level (4670 Level).
  • Significant resources contained above the 4670 Level, including approximately 56% of the Indicated tonnes and 34% of the Inferred tonnes.
  • Identified three main mineralized structures that control the 18 veins included in the mineral resource estimate.
  • The resource model extends to a maximum depth of 230 m from surface in the 12 de Mayo vein, 200 m in the Española vein and 180 m in the Victoria vein. All three vein systems appear to be similarly important in controlling silver mineralization and remain open along strike and at depth.
  • Average diamond drill hole length in the 2021 drilling program was approximately 140 metres.

  • *for AgEq or silver equivalent calculations and other critical assumptions see "Mineral Resource Estimation Methodology" section.

    David Stein, President and CEO of Kuya Silver stated, "We are very excited to have our first-ever mineral resource estimate which has exceeded our expectations for the initial Phase One drilling program. The data collected to date will help guide the exploration strategy as well as the design for the underground development of Bethania. This is a great start to our growing silver project. The quality of our understanding of the Bethania resource potential has increased considerably as we have now identified numerous other veins and their spatial relationship to one another. This understanding will be hugely important as we continue to explore these veins at depth and along strike towards the northeast."

    Christian Aramayo, Kuya Silver's COO added, "The amount of mineralized material estimated to be above the current mine workings is a pleasant surprise. While this initial mineral resource estimate confirmed our understanding of the mine geology, our drilling to date has been relatively shallow and we look forward to exploring the Bethania vein system at depth in the next campaign while ramping up development in preparation for planned future production."

    Table 1: Initial Mineral Resource Estimate Statement, Bethania Silver Project, Peru

    Table 1

    To view an enhanced version of Table 1, please visit:

    Mineral Resource Estimate Methodology

  • The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Simon Mortimer (FAIG #7795) of Atticus Geoscience Peru. The effective date of the Mineral Resource Estimate is December 10, 2021.
  • Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. The quantity and grade of reported Inferred and Indicated Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred and Indicated Resources as Measured, however it is reasonably expected that the majority of Inferred and Indicated Mineral Resources could be upgraded to Measured Mineral Resources with continued exploration.
  • A cut-off grade of 100 g/t silver equivalent ("AgEq") was applied in the reporting of the resource model, which used a minimum block size of 0.60 metres to reflect the minimum mining width applied at this deposit. The cut-off was determined as an approximate break-even cost calculated from known historical mining and recovery costs.
  • Geological and block models for the Mineral Resource Estimate used data from a total of 33 surface drill holes, completed by the Company, and historical underground sampling collected by previous operators. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by Kuya.
  • Mineral resource estimates in Table 1, Table 2, and Table 3 have been rounded to two significant figures.
  • The Mineral Resource Estimate was calculated on the basis of 18 modelled veins which were grouped into three vein systems based on the current understanding of the major structures controlling silver mineralization. The Mineral Resource Estimate statement excludes material that has been mined out and the material in the upper levels of the mine that may not be extracted based on expected requirements for mine safety.
  • Silver equivalent (AgEq) was calculated using the following commodity prices: Au (USD/oz) $1,849.78, Ag (USD/oz) $25.44, Pb (USD/t) $1,981.79, Zn (USD/t) $2,658.62, and Cu (USD/t) $7,971.
  • The recovery factors (%) used in the calculation of the Mineral Resource Estimate were: Au at 0.4439; Ag at 0.9324; Pb at 0.9449; Zn at 0.9265; Cu at 0.8829.
  • The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019).
  • The development of the Mineral Resources that are the subject of the Mineral Resource Estimate may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, and other relevant risks. For additional information on risks and uncertainties that could affect the Company and the development of its mineral projects, please refer to the "Risk Factors" section in the Company's Amended and Restated Annual Information Form dated October 15, 2021 for the year ended December 31, 2020 ("AIF"), which is available on SEDAR at The risk factors identified in the AIF are not intended to represent a complete list of factors that could affect the Company or the development of its mineral projects.

  • Eighteen veins were modelled in the mineral resource estimate ("MRE"), which have been grouped into three vein systems based on the current understanding of the major structures controlling mineralization (Table 2).

    Table 2: Mineral Resource by Vein System

    Table 2

    To view an enhanced version of Table 2, please visit:

    The three vein systems, which comprise 18 resource-hosting veins and 2 vein structures, appear to have strong structural controls along the broadly NE-SW trend of the concession, with various veins locally branching off the main structures. The Española Vein system includes eight veins: Española, Española Footwall Branch (RFW), Carolina, Carolina II, Betsaida, Maria, Maria Footwall Branch (RFW), and Maria Footwall Branch 1 (RFW1), as well as the Carolina Footwall Branch (RFW) which is identified as a structure but currently contains no resources. The 12 de Mayo Vein system includes eight veins: 12 de Mayo, 12 de Mayo South, 12 de Mayo Footwall Branch (RFW), 12 de Mayo Footwall Branch 1 (RFW1), 12 de Mayo Hangingwall Branch (RHW), 12 de Mayo South Footwall Branch (RFW), 12 de Mayo South Hangingwall Branch (RHW), and New Vein, as well as the New Vein Footwall Branch (RFW) which is identified as a structure but currently contains no resources. The Victoria Vein system includes two veins: Victoria and Yolanda.

    By analyzing the current MRE by elevation, approximately 56% of the indicated tonnes and approximately 63% of the Indicated silver equivalent ounces are located above the mine's 4670 Level (Table 3). Approximately 66% of the Inferred tonnes and 65% of the Inferred silver equivalent ounces are located below the mine's 4670 Level. The 4670 Level was the main production adit level prior to the mine suspending operations in 2016, with minimal development and production occurring below that level. A significant portion of the current MRE is located in the upper levels of the historical mine (above the 4670 Level) while the mineral resources remain open at depth.

    Table 3: Mineral Resources Above/Below the 4670 Mine Level

    Table 3

    To view an enhanced version of Table 3, please visit:

    Figure 1: Española Vein long section showing historical workings, 2021 estimated block model grades (Indicated/Inferred only), and 2021 drill hole traces.

    To view an enhanced version of Figure 1, please visit:

    Figure 2: 12 de Mayo Vein long section showing historical workings, 2021 estimated block model grades (Indicated/Inferred only), and 2021 drill hole traces.

    To view an enhanced version of Figure 2, please visit:

    Figure 3: Victoria Vein long section showing historical workings, 2021 estimated block model grades (Indicated/Inferred only), and 2021 drill hole traces.

    To view an enhanced version of Figure 3, please visit:

    Data Verification

    Dr. Scott Jobin-Bevans (P.Geo., APGO #1083), Principal Author, visited the Bethania Silver Project on 15 June 2019. The purpose of the site visit was to observe mine and general Property conditions, surficial geology, underground geology and mining procedures, proposed sites for the processing plant and related equipment, and sites for any exploration work including historical surface trenching and excavation (past mining), inclusive of associated quality assurance/quality control. During the 2019 site visit by Dr. Jobin-Bevans, a total of five rock samples were collected from five of the main veins, either from surface exposures or from underground workings.

    Mr. Simon Mortimer (MAusIMM, FAIG), consulting geologist (Atticus Consulting S.A.C.) visited the Bethania Silver Project from the 24 to 27 May 2021. The purpose of the site visit was to observe the processes and protocols in place for the collection of geological data - the geological logging, the capture of data in digital format, the selection, taking, and registering of samples, the associated quality assurance/quality control and the transport and storage of the samples; to visit the drill pads and observe the procedures in place for the extraction of the core and delivery to the logging shed; and to review the drill core, the surface geology and map some of the principal structures, contacts and outcropping veins.

    The QPs have reviewed the historical data and information regarding past exploration, development work, and historical mining on the Property as provided by Kuya. Kuya was entirely cooperative in supplying the QPs with all the information and data requested and there were no limitations or failures to conduct the verification and so it was concluded that information in the database is suitable for mineral resource estimation.

    Past mine production data as reported to the Ministry of Energy and Mines during the period 2013-2016 is evidence that the mine was worked to accepted standards, and although it should be recognised that geological data relating this last period of mine working lacks QA/QC support, mine mapping and sampling is noted to be of a high standard, and the QPs are confident that this data can be used for guidance in the planning of future work programs and for the purposes of geological modelling and inclusion in the current MRE.

    The sampling of, and assay data from, the drill core was monitored through the implementation of a quality assurance/quality control ("QA/QC") program designed to follow industry best practice. See the technical report titled, "Independent Technical Report on the Bethania Silver Project, Department of Huancavelica, Province of Huancavelica, District of Acobambilla, Peru", dated 29 September 2021, for additional information on the QA/QC program and results.

    National Instrument 43-101 Disclosure

    Mr. Simon Mortimer (FAIG #7795) of Atticus Geoscience Peru, has reviewed and approved the contents of this news release pertaining to the Bethania Silver Project mineral resource estimate. The scientific and technical content of this news release has been reviewed and approved by Scott Jobin-Bevans, PhD, PMP, P.Geo. Both persons are independent Qualified Persons as defined by National Instrument 43-101.

    About Kuya Silver Corporation

    Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.

    For more information, please contact the Company at:

    Kuya Silver Corporation
    Telephone: (604) 398-4493

    Reader Advisory

    This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "potential," "progress," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

    Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)

    To: LoneClone who wrote (162651)1/8/2022 3:37:32 PM
    From: LoneClone
    1 Recommendation   of 167608
    Corvus Gold Securityholders Approve Acquisition By AngloGold Ashanti

    January 06, 2022 17:00 ET | Source: Corvus Gold

    VANCOUVER, British Columbia, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, NASDAQ: KOR) is pleased to announce that, at the special meeting (the “Meeting”) of shareholders and optionholders of Corvus (collectively, the “Securityholders”) today, Securityholders voted overwhelmingly in favour of the resolution (the “Arrangement Resolution”) approving the previously announced plan of arrangement (the “Arrangement”) between Corvus, 1323606 B.C. Unlimited Liability Company (the “Purchaser”), and AngloGold Ashanti Holdings plc. Pursuant to the Arrangement, the Purchaser will, among other things, acquire the remaining 80.5% of the outstanding common shares of Corvus (the “Common Shares”), not already owned by AngloGold Ashanti Limited and its affiliates (collectively, the “AGA Group”).

    81,896,879 Common Shares, representing approximately 64.48% of the issued and outstanding Common Shares as at the record date of November 22, 2021 (the “Record Date”), and 11,948,500 options of Corvus (the “Options”), representing approximately 99.53% of the issued and outstanding Options as at the Record Date, were voted at the Meeting either in person or represented by proxy. The Arrangement Resolution was approved by (i) approximately 99.45% of the Common Shares voted at the Meeting (including those held by the AGA Group); (ii) approximately 99.52% of the Common Shares and Options voted at the Meeting, voting together as a class (including those held by the AGA Group); and (iii) approximately 99.12% of the Common Shares voted at the Meeting, after excluding votes from certain shareholders, including the AGA Group, as required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Details of the voting results from the Meeting will be filed under the Company's profile on SEDAR and under cover of a current report on Form 8-K under the Company’s profile on EDGAR.

    Corvus will apply for a final order of the Supreme Court of British Columbia for approval of the Arrangement on January 11, 2022. Closing of the Arrangement remains subject to certain customary closing conditions, including obtaining the final order from the Supreme Court of British Columbia. Assuming the satisfaction of these closing conditions, the Arrangement is expected to close on or around January 18, 2022. Following completion of the Arrangement, the Company expects the Common Shares to be delisted from the Toronto Stock Exchange and Nasdaq Capital Markets. The Company will also be applying to the relevant securities regulatory authorities in Canada and the United States to cease to be a reporting issuer.

    Shareholders who have questions or require assistance with submitting their Common Shares in exchange for the consideration pursuant to the Arrangement may direct their questions to Computershare Investor Services Inc., which is acting as the depositary under the Arrangement. Further information regarding the Arrangement is available in the proxy statement/management information circular (the “Circular”) of the Company dated November 25, 2021, which is available under Corvus’ profile on both SEDAR and EDGAR.

    About Corvus Gold Inc.

    Corvus Gold Inc. is a North American gold exploration and development company, focused on its near term gold-silver mining project at the North Bullfrog and Mother Lode Districts in Nevada. Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.

    On behalf of
    Corvus Gold Inc.

    (signed) Jeffrey A. Pontius
    Jeffrey A. Pontius,
    President & Chief Executive Officer

    Contact Information: Ryan Ko
    Investor Relations
    Phone: 1-844-638-3246 (toll free) or (604) 638-3246

    Forward-Looking Statements

    Certain statements and information contained herein are not based on historical facts and constitute “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws (collectively, “forward looking information”). Such forward-looking information includes the anticipated timing for Corvus applying to the Supreme Court of British Columbia for the final order, the anticipated timing for the closing and the anticipated timing for delisting from the TSX and the NASDAQ and ceasing to be a reporting issuer in Canada and the United States. Forward-looking information is provided to help readers understand Corvus’ views of its short and longer term prospects, and can typically be identified by words and phrases about the future such as “outlook”, “may”, “estimates”, “intends”, “believes”, “plans”, “anticipates” and “expects”. Forward-looking information is not a promise or guarantee of future performance; it represents Corvus’ current views and actual results may differ materially from those in forward-looking information. Readers are cautioned that forward-looking information may not be appropriate for other purposes. Corvus assumes no obligation to update or revise forward-looking information contained herein, unless required to do so by securities laws. The forward-looking information contained herein is based on a number of assumptions which could prove to be significantly incorrect. Such assumptions include: assumptions regarding the ability of Corvus to receive, in a timely manner and on satisfactory terms, the necessary court and regulatory approvals; and the ability of the parties to satisfy in a timely manner the conditions to the closing of the Arrangement. Although the Company’s management believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that forward-looking information herein will prove to be accurate. Actual results and developments may differ materially from those expressed or implied by the forward-looking information contained herein and even if such actual results and developments are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects. Factors which could cause actual results to differ materially from current expectations include: changes in the price of gold and silver; general business, economic, competitive, political, regulatory and social uncertainties; risks relating to increases in operating costs and related inflationary pressures; the risk factors otherwise described in the Circular; and the risks set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended May 31, 2021 and the Quarterly Report on Form 10-Q for the period ended August 31, 2021. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

  • Share RecommendKeepReplyMark as Last ReadRead Replies (1)

    To: LoneClone who wrote (162652)1/8/2022 3:43:16 PM
    From: LoneClone
       of 167608

    Minto Metals Corp. Jan 07, 2022, 06:30 ET

    WHITEHORSE, YT, Jan. 7, 2022 /CNW/ - MINTO METALS CORP. ("Minto" or the "Company") (TSXV: MNTO) today announced production results for the 12-month period ended December 31st, 2021, a purchase price deferral and operational guidance for the Calendar Year 2022.

    Minto completed 2021 with consolidated production totaling 26 million pounds of payable copper, a 46% increase versus the prior year. The full-year results were highlighted with a strong finish in November and December during which the Company delivered an average of 3,000 tonnes per day of ore processed through the mill and 6.1 million pounds of payable copper.

    Twelve months ended


    Dec. 31, 2021

    Dec. 31, 2020

    % Change

    Payable Copper (million pounds)




    Gold (oz)




    Silver (oz)




    Calendar 2021




    Payable Copper (million pounds)




    Calendar 2020




    Payable Copper (million pounds)




    % Increase 2021 vs 2020




    "Our operation is showing positive momentum thanks to the efforts of our employees and contractors at our Minto mine located in the central Yukon. The 2021 copper production is up 46% compared to a year ago. The improved performance is encouraging and a testament to the drive and passion to win shown by everyone who works here at Minto" said Chris Stewart, President & Chief Executive Officer of Minto.

    "From the mine's performance to the enhancements we have seen in our milling operation, we are pleased with the production growth in 2021. I joined Minto in mid-January of 2021, and we are now starting to see the benefits of the many changes we have made which will benefit our employees as well as all our stakeholders. I am optimistic about the future at Minto and look forward to building stronger relationships with the Selkirk First Nation and the various Yukon regulatory agencies.", Mr. Stewart added. "Our goal is to carry the momentum from 2021 into 2022. All indicators are giving us reasons to be encouraged about the bright future ahead."

    Outlook Guidance -2022

    Minto is pleased to announce guidance for 2022 as we continue to ramp up our ore production throughout the year. We are committed to a cost control strategy while improving our mine and milling operations. Capital investment is required for the development of our assets and we are working closely with our partners at the Selkirk First Nation and the Yukon Government to facilitate the permits needed for this. Our goal is to deliver a high-quality product while protecting the Selkirk First Nation's land that we operate on.

    The following table summarises the production, cost and capital expenditure outlook for 2022. The plan is to operate the mill at an average throughput of 3,000 tonnes/day for H1/2022 and 3,250 tonnes/day for H2/2022 as the ore production continues to ramp up towards our mill's ultimate permitted capacity of 4,200 tonnes/day.

    Production and Cash Costs

    Minto Yukon

    Copper Production (million pounds)

    28.0 - 31.0

    C1 cash cost (USD /lb)1

    $2.70 - $2.90

    Capital Expenditure (CAD millions, rounded)

    Mine Development (new areas)


    Vehicle Lease




    Exploration (CAD millions, rounded)

    $6M - $9M

    Note: Foreign Exchange used CDN:USD = 0.81

    1)This is a non-GAAP measure. Please see "Non GAAP" at the end of this release


    Our previously communicated ore production ramp-up target of 4,000 tonnes/day in 2022 has been delayed as we await the necessary permits to expand our underground mine operations. As a result, our production rate has been adjusted down as outlined above in this release. Executing our "Fill the Mill" strategy is now expected to occur in 2023.

    Other Highlights:

    Investment in People

    Minto is proud to announce the transition from contractor mining to Minto-managed mining. On January 1, 2022, for the first time in the history of the Minto mine, the Company began operating its underground mine operations with Minto employees. "This change signals a significant investment in our people and continues our cultural shift to delivering consistent, improved performance across the business and we believe our new employees, along with our current employees, are motivated to safely deliver on our targets for 2022. It is an exciting time for our company, and I am pleased with the team we have put in place to share in this great journey," said Mr. Stewart.

    Purchase Price Deferral

    Minto is also pleased to announce it has reached an agreement with Capstone Mining Corp ("Capstone") to defer paying part of Minto's purchase price obligation. In accordance with the Future Expenditures Agreement between Pembridge and Minto announced on December 1st, 2021, payments to Capstone of the purchase price are to be made by Minto. Of the total purchase price of USD $20 million, USD $5 million was paid by Minto on March 30th, 2021 and the remaining USD $15 million (with the contingent requirements having been met) was due in December 2021. Under a new agreement reached with Capstone, the amount to be paid in December 2021 was adjusted to USD $10 million which was paid to Capstone before December 31st, 2021. The remaining USD $5 million is now payable on January 15th, 2023.

    Qualified Person

    The technical contents of this news release have been reviewed and approved by Chris Stewart, P.Eng., President & CEO of Minto and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

    Non-GAAP Financial Measure

    C1 Cash Costs

    C1 cash costs consist of production and selling costs net of by-product credits and is provided in this news release as it is a key measure that management uses to monitor and evaluate the performance of the Company's mining operation. This measure does not have a standard meaning within GAAP and, therefore amounts presented may not be comparable to similar data presented by other mining companies. This performance measure should not be considered in isolation as a substitute for measures of performance in accordance with GAAP.

    Cash Cost Calculation

    Production Costs (Cost of Production)

    Less: Exploration costs

    Less: Corporate Costs

    Less: By-product credits

    Total Cash Costs

    Cash Costs CAD/lbs

    Cash Costs USD/lbs (CAD/USD FX RATE)

    About Minto Metals Corp.

    Minto owns and operates the producing Minto mine located in the Minto Copper Belt of the Yukon, Canada. The Minto mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine. Capstone Mining (previous owners) put the Minto mine into care & maintenance in 2018 and the mine operations were shut down. In mid-2019 Minto (formerly Minto Explorations Ltd.) purchased the Minto mine operation and restarted the mine. The current Minto mine includes underground mining operations, a processing plant that produces a high-grade copper, gold and silver concentrate, and all supporting infrastructure associated with operating a remote mine located in Yukon. The Minto mine property is located on the Selkirk First Nation's Territory, sitting about 20 km WNW of Minto Landing on the west side of the Yukon River. Minto Landing is located on the east side of the Yukon River approximately 250 road-km north of the City of Whitehorse, the capital city of the Yukon.

    Forward-Looking Information

    This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"), within the meaning of applicable Canadian securities laws and "forward-looking information" within the meaning of applicable U.S. securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions, or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements or assumptions in this press release include, but are not limited to: statements of production volume, cash costs, capital expenditures, exploration expenditures, permitting timelines, mill production, and investment in people.

    Such forward looking statements are based on a number of material factors and assumptions, including, but not limited to: the accuracy of mineral reserves and mineral resources, grade, mine life, cash cost, net present value, internal rate of return and production and processing estimates, and other assumptions, projections and estimates made, such as the successful completion of development and exploration projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; that mineral resources can be developed as planned; interest and exchange rates; that required financing and permits will be obtained; general economic conditions; that labour disputes or disruptions, flooding, ground instability, geotechnical failure, fire, failure of plant, equipment or processes to operate are as anticipated and other risks of the mining industry will not be encountered; that contracted parties provide goods or services in a timely manner; that there is no material adverse change in the price of copper, gold or other metals; competitive conditions in the mining industry; title to mineral properties; costs; taxes; the retention of the Company's key personnel; and changes in laws, risks related to the direct and indirect impact of COVID-19 including rules and regulations applicable to Minto.

    Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: mineral reserve and mineral resource estimates may change and may prove to be inaccurate; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; Minto has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of copper, gold and silver; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; the Company's exploration programs may not successfully expand its current mineral reserves or replace them with new reserves; the Company's common shares may experience price and trading volume volatility; the Company's revenues are dependent on the market prices for copper, which have experienced significant recent fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; Company shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; changes to taxation laws applicable to the Company may affect the Company's profitability; the risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; and risks related to information systems security threats; and those risk factors set out in the Company's listing application dated November 12, 2021 as filed on SEDAR.

    Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, including those risk factors, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in or incorporated by reference in, this news release if these beliefs, estimates, and opinions or other circumstances should change, except as otherwise required by applicable law.

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

    SOURCE Minto Metals Corp.

    For further information: Chris Stewart, President & Chief Executive Officer, (647) 523-6618, David J. Birch, Chief Financial Officer, (416) 895-4824, E-mail:

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    To: LoneClone who wrote (162653)1/8/2022 3:44:58 PM
    From: LoneClone
       of 167608
    Ameriwest Lithium Nevada Exploration Update

    January 07, 2022 09:00 ET | Source: Ameriwest Lithium Inc.

    VANCOUVER, British Columbia, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to provide the following exploration update on its Nevada Properties.

    Railroad Valley (“RRV”)
    As announced by press release dated November 3, 2021, Ameriwest acquired seismic data for its 9,097-acre RRV property. A total of 26.7 line-miles of data was acquired from Seismic Exchange Inc. and Ameriwest retained Castillo Geophysical Limited and Legg Geophysical Inc. to reprocess and analyze the data. Results from the re-interpretation of the historic seismic data exceeded expectations. The interpretation showed the valley floor, sedimentary strata, faults, and, in combination with recently acquired MT data, the location and geologic explanation of potential brine on the claim block. The data indicates a potential brine reservoir at a depth of approximately 2,000 ft to 4,000 ft below surface.

    On October 27, 2021, Ameriwest also announced results from a MT survey conducted at Railroad Valley. Based on results the seismic analysis and the results from the initial MT survey, Ameriwest plans to conduct further MT work at Railroad Valley in early 2022. Zonge International Inc. has been contracted to add two additional MT lines to the north and south of the initial two MT lines they completed in 2021. This work is being scheduled in early 2022, subject to weather and ground conditions.

    Tom Carpenter, consulting geophysicist is also being retained to conduct a gravity study at RRV. Based on these combined geophysical studies (gravity, MT, and seismic), Ameriwest expects to be able to move forward with a drilling program at RRV in 2022, subject to permitting.

    Edwards Creek Valley (“ECV”)
    As announced by press release dated November 16, 2021, Ameriwest initiated a two-phase geophysical program at ECV. Phase 1 consisted of a gravity survey of approximately 272 stations on an 800 m by 800 m grid over the entire claim block, an area of 15,735 acres. Stations were also located along roads using an 800 m by 1,600 m spacing to get coverage on the exposed bedrock of the surrounding mountain ranges.

    Field work was conducted over the period of November 11th to 19th, 2021. Field work and subsequent analysis were completed by Tom Carpenter, consulting geophysicist. Results show a large gravity low on the northeast half of the claim block and a second less pronounced gravity low on the southeastern section of the claims block. The gravity lows are interpreted to be deeper sections of the valley that have potential to host brine deposits.

    Phase 2 was to consist of a Magnetotelluric (MT) survey conducted by Zonge International Inc. The survey was to consist of four profiles for a total of 22.4 km of MT lines. However, due to inclement weather and associated flooding of the playa, Zonge was able to only complete one of the four profiles in 2021. However, that single MT line showed a resistivity low at a depth of about 400 m to 1,000 m below surface. The resistivity low indicates the potential for the valley to host a brine deposit.

    Based on the large gravity low identified in the northeast section of the claim block in Phase 1 and the preliminary results from the single MT line in Phase 2, Ameriwest now plans to expand the Phase 2 study to include two additional MT lines to the northeast of the four initially planned lines. Zonge plans to schedule this work in early 2022, dependent on weather and ground conditions in the valley.

    Deer Musk East (“DME”)

    On August 24, 2021, Ameriwest announced filing of a National Instrument 43-101 (“NI 43-101) Technical Report on its DME property. The report, titled, “Ni 43-101 Technical Report for the Deer Musk East Property, Clayton Valley, Esmeralda Property, Nevada, USA,” dated August 23, 2021, was prepared on behalf of Ameriwest Lithium by Raymond P. Spanjers, M.S. P.G.

    As announced by press release on September 15, 2021, Ameriwest outlined results from geophysical studies at DME from a report, titled “Geophysical Exploration for Deer Musk East Claim Area” prepared by Advanced Geoscience Inc. (“AGI”). The report concluded that the results from the geophysics program “…demonstrate a strong likelihood for the occurrence of lithium brine deposits beneath the claim area.” The report recommended additional geophysics studies to further improve the definition of the brine targets. It also recommends drilling to assess the lithium content of the brine targets with the goal of ultimately generating mineral resources.

    In related news, Ameriwest was advised in December 2021 of a complaint from Authium LLC related to a claim dispute at DME. The potential for this claim dispute is discussed in the Technical Report. Ameriwest staked certain placer claims that make up part of the DME property over Authium’s existing lode claims. Ameriwest’s position is that the deposit where it staked its claims is clearly a placer deposit, not a lode deposit, and Authium’s lode claims are therefore invalid. If necessary, Ameriwest plans to defend the validity of its placer claims through litigation.

    Note that no mineral resources or reserves have yet been defined on the RRV, ECV, or DME properties.

    Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates of ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.

    On Behalf of the Board of Directors,

    David Watkinson
    President and Chief Executive Officer

    For further information, please contact:
    Invictus Investor Relations
    Tel: +1 (604) 343-8661

    About Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
    Ameriwest Lithium Inc. is a Canadian-based exploration company with a focus on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring Nevada’s Deer Musk East property, located in the prolific Clayton Valley, totalling 5,600 acres, the Railroad Valley property, totalling 9,097 acres, the Edwards Creek Valley totalling 16,940 acres and Arizona’s Thompson Valley totalling 2,859 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest.

    For more information visit:

    Caution Regarding Forward-Looking Information
    Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

    The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

  • Share RecommendKeepReplyMark as Last ReadRead Replies (1)

    To: LoneClone who wrote (162654)1/8/2022 3:51:35 PM
    From: LoneClone
    1 Recommendation   of 167608
    Reyna Gold To Commence Trading On TSX Venture Exchange

    Friday, January 7, 2022 3:15 PM

    VANCOUVER, BC / ACCESSWIRE / January 7, 2022 / Reyna Gold Corp. ("Reyna" or the "Company") (TSXV:REYG) is pleased to announce that its common shares (the "Common Shares") have been approved for listing on the TSX Venture Exchange (the "TSXV"). The Common Shares are expected to commence trading under the ticker symbol "REYG" as of market open on or about January 11, 2022.

    The Exchange will issue a bulletin confirming the date on which trading will commence. Upon listing, the Company will be listed as a Tier 2 Mining Issuer on the TSXV. The Company is currently focused on the exploration of the La Gloria Project, located within the Mojave-Sonora Megashear in Mexico.

    About the Company

    Reyna Gold Corp. is a gold exploration company focused on district-scale exploration on two major gold belts in Mexico. The company has a portfolio of assets on the Mojave-Sonora Megashear and the Sierra Madre Gold and Silver Belt consisting of over 57,000 hectares/ 570 sq km. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement and monetization.

    On behalf of the board of directors of Reyna Gold Corp.,

    "Michael Wood"

    Michael Wood
    President, Chief Executive Officer and Director

    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 news release.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to future events or future performance of the Company, the anticipated timing of listing, the Company's plans regarding future exploration activities and benefits arising from the listing of the Company's common shares on the TSXV. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated December 6, 2021 available for review on the Company's profile at Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

    SOURCE: Reyna Gold Corp.

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    To: LoneClone who wrote (162655)1/10/2022 12:22:26 PM
    From: LoneClone
       of 167608
    Verde announces 2022 guidance and two year outlook

    Verde AgriTech PLC
    Mon., January 10, 2022, 3:00 a.m.·2 min read

    BELO HORIZONTE, Brazil, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”) (“Verde” or the “Company”) is pleased to announce its 2022 guidance of 700,000 tonnes production, with sales of $72.3 million, EBITDA of $28.4 million, net earnings per share (“EPS”) of $0.50; and a 2023 guidance of 1.4 million tonnes.

    2022 Guidance

    The Company’s target is detailed on a quarterly basis, reflecting the market demand's seasonality, as follows:


    Q1 2022

    Q2 2022

    Q3 2022

    Q4 2022

    FY 2022

    Sales target (tonnes)






    Revenue ($’000)






    EBITDA ($’000)






    EPS ($)






    The 2022 guidance is underpinned by the following assumptions:

  • Grant of mining concession

  • Average Brazilian Real (“R$”) to Canadian dollar exchange rate: C$1.00 = R$4.40

  • Average KCl CFR Brazil of US$500, compared to current price of US$760 per tonne (as per the market intelligence firm Acerto Limited weekly price as of December 3, 2021).

  • Sales Incoterms: 50% CIF and 50% FOB

  • Sales channels: 50% direct sales and 50% indirect sales

  • “Over the previous years, seeing that we were producing and selling a new product, our guidance was limited to volume and revenue. From 2022 onwards we are pleased to add EBITDA and EPS to Verde's guidance,” said Cristiano Veloso, Verde’s Founder and CEO.

    2023 Guidance

    For 2023, Verde’s sales volume target is 1.4 million tonnes. This target represents a potential 100% growth Year-on-Year (“YoY”).

    Investors Newsletter

    Subscribe to receive the Company’s monthly updates at:
    The last edition of the newsletter can be accessed at:

    About Verde AgriTech
    Verde is an agricultural technology company that develops and produces fertilizers. Rooting our solutions in nature, we make agriculture healthier, more productive, and profitable for farmers. We work to improve the health of all people and the planet.

    Cautionary Language and Forward-Looking Statements
    This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. The Cautionary Language and Forward-Looking Statements can be accessed at this link.

    For additional information please contact:

    Cristiano Veloso, President, Founder & Chief Executive Officer

    Tel: +55 (31) 3245 0205; Email: | |

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    To: LoneClone who wrote (162656)1/10/2022 3:05:07 PM
    From: LoneClone
       of 167608
    Wallbridge Announces 2022 Exploration Program at Flagship Properties on Detour-Fenelon Gold Trend

    January 10, 2022

    View PDF

    Toronto, Ontario – January 10, 2022 – Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that it has approved a $70 million exploration program for 2022 that will focus on growing the gold mineral resources at the Company’s flagship Fenelon and Martiniere properties, located on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.

    “We see excellent potential to build on our track record of exploration success over the past years to further grow mineral resources at both Fenelon and Martiniere in 2022, with most known mineralized gold trends remaining open for expansion, and additional opportunities within the existing resource footprints,” said Marz Kord, President & CEO of Wallbridge. “After validating the multi-million-ounce potential of this emerging gold camp with a significant mineral resource estimate in 2021, we plan to maintain a similar pace of exploration work this year, with 8 to10 active drills. We expect this program to deliver a number of catalysts for our shareholders over the course of 2022, as we update our mineral resource estimates for Fenelon and Martiniere and will lay the groundwork for an economic study that will incorporate our properties across the Detour-Fenelon Gold Trend.”

    The Detour-Fenelon Gold Trend (see Figure 1) has a demonstrated potential to host world-class gold deposits yet remains highly underexplored in comparison to other prolific gold belts in the southern portion of the Abitibi, such as the Timmins-Porcupine, Kirkland Lake and Val d’Or camps. Regional exploration on this trend is expected to account for approximately 10% of the Company’s 2022 exploration budget.

    “The goal of our regional exploration program in 2022 will be to add new discoveries to our growing inventory of ‘drill bit successes’ on the Company’s largely underexplored yet highly prospective land package of roughly 910 km2, located just east of the 30+ million-ounce Detour Lake deposit,” said Attila Péntek, Wallbridge’s Vice President, Exploration. “Our 2022 program makes Wallbridge one of the most active gold explorers in Quebec and we intend to build on our track record of delivering shareholder value through exploration success once again this year.”

    2022 Exploration Program

    Wallbridge finished 2021 with approximately $40 million of cash on hand and expects to receive approximately $10 million in 2020 refundable tax credits from the province of Quebec. The balance of the 2022 exploration budget of $70 million is expected to be funded from other sources.

    Approximately 60-65% of the Company’s planned drilling in 2022 will be targeted at Fenelon, 25-30% will be targeted at Martiniere, and the remaining 10% will be allocated to regional exploration (see details in table below). These results will be supplemented by approximately 60,000+ metres of drilling completed in 2021 after the cut-off date for the Company’s November 2021 Mineral Resource Estimate. In addition, funding has been allocated for preparation work for economic studies and underground maintenance.

    2022 Drill Program Highlights: Fenelon & Martiniere

    In November 2021, less than three years from the discovery of the Area 51 and Tabasco/Cayenne Zones, Wallbridge announced a maiden Mineral Resource Estimate for Fenelon Gold and an updated Mineral Resource Estimate for the Martiniere Gold Property totalling 2.67 million ounces of indicated gold resources and 1.72 million ounces of inferred gold resources (for details see Wallbridge press release dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).

    The Fenelon deposit remains open laterally in most directions, and at depth below the current extent of drilling at approximately 1,000 metres. Expansion drilling in 2022 will focus on adding resources within the 2021 resource open pit shell and within the known footprint of the gold system where drill spacing was not sufficient to include mineralization in the 2021 Mineral Resource Estimate. Drilling will also aim to extend known gold zones and test extensions of the main host rocks (Jeremie Diorite, Main Gabbro), as well as structures important in controlling gold mineralization (Sunday Lake Deformation Zone, Jeremie Fault, and other secondary fault zones).

    At Martiniere, the deposit is currently separated into multiple isolated zones with very little drilling in between, resulting in several smaller open pits in the 2021 Mineral Resource Estimate. Drilling in 2022 will focus on connecting these zones to form a more continuous orebody that can support a more optimal open pit configuration. In addition, both the Martiniere West and the Bug Lake Trends are open along strike and drilling is limited below 400 metres of vertical depth. Lateral and depth extensions of the known zones will also be targeted in the 2022 drill program.

    Regional Exploration

    Wallbridge intends to allocate approximately 10% of the 2022 budget to pursue further grassroots discoveries on its extensive land package. Spanning 97 kilometres in an east-west direction along the Detour-Fenelon Gold Trend, (roughly equivalent to the distance between Rouyn-Noranda and Val d’Or), Wallbridge’s 910 km2 Detour-Fenelon land package offers excellent potential for new gold discoveries.

    As reported on October 21, 2021, the Company has completed an initial 5,300 metre drill program on the Casault Gold Property, discovering new gold mineralization in the first drill hole. Full assay results are pending, and the Company is reviewing plans to continue exploration on this property in 2022.

    At Grasset, within 10 kilometres of the Fenelon deposit, the Company has been drilling since November to follow-up on the Grasset Gold showings, where historic intersections include 1.66 grams per tonne (g/t) of gold over 33 metres, and 6.15 g/t of gold over 4.04 metres.

    Assay results of completed holes along with further details on planned regional exploration activities in 2022 will be reported when available.

    Figure 1. Wallbridge’s Detour-Fenelon Gold Trend land package

    About Wallbridge Mining

    Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold and Martiniere properties, located along the highly prospective Detour-Fenelon Gold Trend, an emerging gold camp in northwestern Québec. Both properties are located on the Company’s 910 km2 land package, with significant potential for further discoveries over a 97-kilometre strike length of this underexplored belt. Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately?held company with a portfolio of nickel, copper, and platinum?group metals (PGM) projects in Ontario's Sudbury Basin.

    This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

    For further information please visit the Company's website at or contact:

    Wallbridge Mining Company Limited

    Marz Kord, P. Eng., M. Sc., MBA
    President & CEO
    Tel: (705) 682?9297 ext. 251

    Victoria Vargas, B.Sc. (Hon.) Economics, MBA
    Investor Relations Advisor

    Cautionary Note Regarding Forward-Looking Information

    This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this press release.

    All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

    FLI herein includes, but is not limited to: future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the mineral resource estimates (each an “MRE”) at the Fenelon Gold and Martiniere properties (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

    FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein.

    Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

    Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about Wallbridge's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at

    Covid?19 ? Given the rapidly evolving nature of the Coronavirus (COVID?19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

    Information Concerning Estimates of Mineral Resources

    The disclosure in this press release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this press release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained in this press release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.

    Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.

    Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or referenced in this press release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.

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