British Columbia Mining

[Lone Clone]

Kingfisher Signs Definitive Agreement to Acquire the LGM Project in the Golden Triangle, British Columbia

https://www.accesswire.com/872200/kingfisher-signs-definitive-agreement-to-acquire-the-lgm-project-in-the-golden-triangle-british-columbia

Thursday, 06 June 2024 05:30 AM

VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce that it has entered into a definitive agreement (the "Agreement") to acquire the LGM Project from Origen Resources Inc. ("Origen"). The 26,771 Ha LGM Project is located immediately south and contiguous with Kingfisher's HWY 37 Project, in Northwest British Columbia within the Golden Triangle.

Highlights

Expansion of contiguous holdings in the Golden Triangle from 362 km2 to 630 km2including KSM-type targets in west, alkalic Galore Creek-type targets in central region (Grizzly and Lucifer) and unexplored Eskay Creek-type stratigraphy to the east.
Grizzly Target trench sampling from 2006 returned 0.74% Cu and 1.09 g/t Au over 38 m.
The LGM Project represents one of only three silica-undersaturated magmatic-volcanic complexes in the Golden Triangle with discovery potential for Galore Creek-type porphyry systems and has only seen 3,988 m of drilling.
Historical stream sampling at Lucifer outlined a 4 km-long trend of highly anomalous stream sediment samples grading up to 7.8 g/t Au - similar in strength and scale to the Hank epithermal deposit signature at HWY 37.
LGM Project is fully permitted for diamond drilling.

Dustin Perry, CEO states "Acquiring the LGM Project fits into Kingfisher's strategy to explore large district-scale opportunities and further increases our land holdings adjacent to Highway 37 in the prolific Golden Triangle. Historical results at LGM show very encouraging early-stage indications of porphyry Cu-Au mineralization with the Galore Creek potential."

Gayle Febbo, VP Exploration states "The Grizzly and Voigtberg showings represent the only known showings in the region with mineralization hosted in pseudoleucite bearing volcanic rocks without a significant discovery. My work at Galore Creek focused on the structural patterns of ore shoots, and I believe comparable unrecognized patterns and potential exist for the LGM Project."

The LGM Project Overview

The LGM Project lies directly south of the HWY 37 Project (Figure 1). It parallels Highway 37 and is bound to the south by the Galore Creek access road. The project comprises 26,771 Ha with underlying NSR royalties ranging from 1% to 2%.

LGM offers exposure to three district-scale exploration targets: 1) KSM-type porphyry showings (Texas Creek suite intrusions) in the western half of project, 2) Galore Creek-type showings in the southwest region of project (Galore Creek suite intrusions), and 3) Eskay-type prospective stratigraphy in the eastern project (Iskut River Formation). Despite the highly favourable location within the Golden Triangle and proximity to both the highway and the Galore Creek access road, the project has only seen 3,988 m of shallow reconnaissance diamond drilling. Historical exploration at the project has focused on the Grizzly and Lucifer targets with exploration dating back to the 1970s.

The LGM/Voigtberg, Galore Creek, and Newmont Lake projects represent the only three areas in the Golden Triangle where ~210-208 Ma silica-undersaturated, alkalic magmatic-volcanic complexes are identified. These rare and Cu-Au-rich systems are marked by the presence of pseudoleucite in both the intrusions and in the overlying volcanic rocks. Although many Galore Creek suite intrusions are identified in the region, only three reflect full vertical preservation that includes the pseudoleucite-bearing volcanic carapace. Galore Creek is the most advanced of these projects with a measured and indicated resource of 1,197 Mt at 0.46% Cu and 0.25 g/t Au, and the Newmont Lake Project is host to the Burgundy Ridge drill delineated Cu-Au porphyry deposit. The LGM/Voigtberg region represents rare exposure to a Galore Creek-type system, and the only magmatic-volcanic complex where a deposit has not yet been delineated. The Company notes that mineralization on nearby projects is not indicative of mineralization on the LGM Project.

Figure 1: Regional Overview Map

Figure 2: LGM Project - Grizzly-Voigtberg-Lucifer Trend

Grizzly Porphyry Target Area

The Grizzly target (Figure 2) is a silica-undersaturated alkalic Cu-Au porphyry with a comparable setting to Galore Creek. The target is centered on a surface trench of 0.74% Cu and 1.09 g/t Au over 38 m and lies within a 1 km by 1 km Cu-Au-Ag-Mo soil geochemical anomaly that grades up to 2916 ppm Cu, 1100 ppb Au, 5.4 ppm Ag, and 160 ppm Mo. Excellent rock sampling results up to 5.91% Cu and 13 g/t Au at Grizzly were the focus of a small drill program in 2008, with 1442.9 m of diamond drilling.

The small program failed to identify the geometry of the porphyry intrusion and drilled exclusively along an east-west azimuth into pseudoleucite-bearing rocks. The NNE axis of mineralization in moderately S-dipping gully defined by rocks was not crossed by the 2008 drill holes. Anomalous intercepts from 2008 include 0.16 g/t Au and 0.10% Cu over 66.6 m (hole GRZ08-11).

Follow-up geophysical surveys identified a moderate chargeability and magnetic anomaly directly below the Grizzly trench showing. The strongest chargeability anomaly remains untested and lies downslope from the Grizzly showing in a region where monzonite to syenite porphyry is mapped on surface. Three large untested magnetic anomalies were identified at depth below the Grizzly showing, the most westerly coincides with a moderate shallow chargeability anomaly.

The Grizzly showing appears to be a high-level, Galore Creek-type setting with several untested geophysical anomalies and excellent trench results that have not been crossed by drilling. The first-ever 3D modelling was completed by Kingfisher during the due diligence process, and it highlighted porphyry mineralization outlined by historical trenching occurs as a ~150 m wide panel that dips moderately to the south on the shoulder of a large magnetic anomaly. The region represents an opportunity to test higher-level, structurally controlled porphyry emplacement bodies from surface as well as deeper, bulk tonnage porphyry targets.

Lucifer Porphyry and Epithermal Target Area

Lucifer is an early-stage 4 by 5 km region defined by a Cu-Au-Ag-Mo soil geochemical anomaly grading up to 3383 ppb Au, 787 ppm Cu, 5.6 ppm Ag, and 216 ppm Mo; the strongest ASTER anomaly across the Grizzly-Voigtberg-Lucifer Trend; and a 2.5 km by 1 km area of silica-sericite-carbonate-pyrite alteration outlined by Noranda in 1991. The region is also defined by a large gossan continuous with the Grizzly and Voigtberg targets and is prospective for both porphyry and epithermal mineralization.

Widely spaced drilling at Lucifer amounts to 1,821.96 m. Airborne geophysical surveys were completed at Lucifer including magnetic susceptibility and VTEM.

The source of Cu-Au mineralization at Lucifer is not yet drill delineated and several gossans on surface to the east are unsampled.

Potential Continuation of Hank-Williams Trend

The northern LGM project lies to the southwest from the Hank-Williams Trend on the HWY 37 Project. Within this area are Texas Creek Suite intrusions mapped by the BC Geological Survey. Much of the prospective region lies in areas of extensive glaciation that have undergone significant recession since the last work was completed in the area by Skeena Resources in 1990.

Historical rock sampling of intrusive boulders at the toe of one glacier returned grades up to 0.90% Cu, 0.27 g/t Au, and 6.8 g/t Ag. That glacier has since receded by ~1,500 m and not been subsequently explored. Sampling of lateral moraines in the area returned up to 4.5 g/t Au and 74.6 g/t Ag from breccias.

Terms of the Agreement

Under the terms of the Agreement, the Company will issue 3,000,000 common shares in the capital of Kingfisher, to Origen and pay C$75,000 in cash to Origen in exchange for the transfer of the LGM Project claims on closing. In addition, the LGM Property is subject to underlying royalty agreements over different parts of the project that range from 1 to 2% with Triple Flag Precious Metals (1%), Ryan Kalt (2%), and Carl von Einsiedel (2%).

The transaction remains subject to various terms and conditions, including, but not limited to, the approval of the TSX-V and CSE.

Qualified Person

Dustin Perry, P.Geo., Kingfisher's CEO, is the Company's Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

Options Issuance

Kingfisher also announces the grant of 1,700,000 stock options that are exercisable for a period of five years at a price of C$0.25 per share to its directors, officers, various staff members, and an investor relations consultant (Adelaide Capital Markets Inc.).

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 40,219,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: [phone]
E-Mail: [e-mail]

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

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

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

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Kingfisher Metals Corp.

[Lone Clone]

Thesis Gold Receives Positive Metallurgical Tests Results for Lawyers-Ranch Project: Achieves Average Precious Metal Recovery of 95% for Gold and 92% for Silver

https://www.newsfilecorp.com/release/211757

June 05, 2024 6:30 AM EDT | Source: Thesis Gold Inc.

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF)

[Lone Clone]

Core Assets Identifies Numerous Drilling Targets Using 3D Inverted Magnetics & Commences Drilling This Week

https://www.accesswire.com/871487/core-assets-identifies-numerous-drilling-targets-using-3d-inverted-magnetics-commences-drilling-this-week

Wednesday, 05 June 2024 09:00 AM

CLICK HERE TO VIEW A VIDEO VERSION OF THIS RELEASE

VANCOUVER, BC / ACCESSWIRE / June 5, 2024 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTC.QB:CCOOF) is pleased to announce the results and interpretation of a 3-Dimensional Magnetic Vector Inversion Model collected over the 2024 drilling area at the Silver Lime CRD-Porphyry Project (the "Silver Lime Project" or "Silver Lime"), central Blue Property (the "Blue Property"), Atlin Mining District of NW British Columbia.

HIGHLIGHTS

1.) Source Intrusion Discovery: The 3D magnetic model indicates that the Sulphide City Mo-Cu Porphyry Stock extends deeper and connects to a larger magnetic body measuring ~3.7 kilometres wide, which feeds at least three additional porphyry stocks beneath the Pete's CRD and AMP targets, and south of the Gally CRD target (Figure 1).

2.) Drilling Confirmation: In 2022, drillhole SLM22-006 at Sulphide City reached a depth of 471 meters, showing significant porphyry-style alteration, veining, and increased molybdenum (Mo) and copper (Cu) grades at around 315 meters depth (Figures 1, 2). Grades near the EOH returned up to 2.50% CuEq.

3.) 2024 Drilling Plan: Core Assets is fully funded for up to 5,000m of diamond drilling as well as project-wide mapping and rock sampling campaigns. We will start by drill-testing the Sulphide City Mo-Cu Porphyry Stock (80 mV/V) (Figure 1), and the potential source intrusion. Drilling is on-track to begin this week at the Silver Lime CRD-Porphyry Project.

Supporting technical information is located below.

Figure 1: 3D modelled magnetic radial isosurfaces (pale pink) looking east-southeast through the Sulphide City Target obtained from the 2024 magnetics inversion completed on 2021 VTEM geophysical survey data overlapping with the high chargeability centres along the Pete's-Sulphide City-Gally mineralized trend. These radial magnetic isosurfaces are interpreted as prospective porphyry stocks and connect to a larger magnetic body below 1,100m depth, interpreted as the source intrusion.

Core Assets' President & CEO Nick Rodway commented, "Overlaps observed between our favourable magnetics, highly chargeable and conductive zones, Cu and Mo grade downhole, and the current drilled extent of the Sulphide City Mo-Cu Porphyry all point towards the continuation of the mineralized Sulphide City Porphyry to depths exceeding 1 kilometer. These overlapping datasets indicate the presence of a large, long-lived, and multi-stage, mineralized porphyry system feeding the high-grade Silver Lime skarn and CRM targets. This interpretation comes with an enhanced understanding of our 3D project geology and structures that acted as fluid pathways for the high-grade massive sulphide and epithermal mineralization observed outboard of the Sulphide City Target. Everything is on schedule, and we are excited to begin drilling this week. We'll start by testing the prospective overlap zones for porphyry Cu potential."



Figure 3: Spatial relationships between porphyry Cu stocks, underlying pluton, overlying comagmatic volcanic rocks, and the lithocap. The precursor pluton is multiphase, whereas the parental pluton is shown as a single body in which the concentric dotted lines mark its progressive inward consolidation. The early, intermineral, and late-mineral phases of the porphyry Cu stocks, which span the interval during which the porphyry Cu deposits formed, originate from increasingly greater depths in the progressively crystallizing parental chamber. Note that subvolcanic basement rocks host much of the porphyry Cu deposit on the left, whereas that on the right is mainly enclosed by two phases of the precursor pluton (Modified from Sillitoe, 2010 and references therein).

In early 2024, Core Assets contracted Fathom Geophysics to create a 3D magnetic inversion model utilizing the VTEM (Versatile Time Domain Electromagnetic) geophysical data collected over the Silver Lime CRD-Porphyry Project in 2021.

The 3D radial magnetic models at Silver Lime (isosurfaces; pale pink shapes in Figure 1) correlate well with highly chargeable zones below the Sulphide City, Pete's and Gally targets identified by the 2023 3D-IP (Three-Dimensional Induced Polarization) survey (high chargeability plotted as red and purple contours in Figure 1).

In 2022, SLM22-006 drill-tested the Sulphide City Mo-Cu Porphyry to a true depth of 471m and encountered strong porphyry-style alteration, veining and increased Mo and Cu grades upon intersecting the top of the highly chargeable core (80mV/V) near 320m true depth (See News Release dated December 14, 2023).

The 3D radial magnetic models (isosurface; pale pink shape in Figure 1) indicate a continuation of the Sulphide City Mo-Cu Porphyry Stock to depth where it connects to a larger magnetic body interpreted as the source intrusion (Figures 1, 3). This source intrusion measures 3.7-kilometres wide and appears to be feeding at least three additional interpreted porphyry stocks situated below the Pete's CRD and Amp targets, and 750m south of the Gally CRD Target.

Interpreted mineralized porphyry stocks (pale pink shapes) along the Pete's - Sulphide City - Gally Trend are associated with overlapping chargeable and conductive anomalies along their margins that are interpreted as probable zones of high-grade Zn-Fe-Cu massive sulphide skarn deposits.

All prospective porphyry targets presented in Figure 1, including the interpreted main source intrusion, are bound by major deep-seated faults within a 13.7km2 area (red lines in Figure 1). These structures are believed to have acted as the main pathways for the distal and widespread, high-grade massive sulphide Ag-Zn-Pb-Cu±Au carbonate replacement mineralization at the Silver Lime Project.

Figure 4: Anatomy of a telescoped porphyry Cu system showing spatial interrelationships of a centrally located porphyry Cu ± Au ± Mo deposit in a multiphase porphyry stock and its immediate host rocks; peripheral proximal and distal skarn, carbonate-replacement (chimney-manto), and sediment-hosted (distal-disseminated) deposits in a carbonate unit and sub epithermal veins in noncarbonate rocks; and overlying high- and intermediate-sulfidation epithermal deposits (Modified from Sillitoe, 2010 and references therein). The numbers represent the locations of each of the Silver Lime target areas within a typical porphyry Cu-Mo system: 1) Sulphide City Skarn-Porphyry Target; 2) Gally CRD Target; 3) Jackie CRD Target; 4) Grizzly CRD Target; 5) Pete's CRD Target; 6) Falcon Au-Ag-As-Sb Veins And Cu-Au-Ag High Sulphidation Epithermal Veins; 7) Amp Distal Base And Precious Metal Vein Target.

ADDITIONAL INFORMATION ABOUT THE 3D MAGNETIC VECTOR INVERSION (3D-MVI)

In the Winter of 2024, Fathom Geophysics Ltd. was contracted to carry out a 3D MVI on Versatile Time Domain Electromagnetic (VTEM) geophysical data obtained in 2021 for porphyry target generation and 2D and 3D structure detection. Current interpretations of the 3D amplitude, remnant magnetization, and radial symmetry inversions indicate a large, deep, buried intrusion underlying the majority of the main Silver Lime Project area. Several apparent stocks extending from the larger radial feature at depth are continuous to surface, inter-connecting each of the drilled Silver Lime targets, as well as the Amp Target, to a single large system at depth. Radially symmetrical isosurfaces from 180-720m in radius were used in this interpretation, and features are generally continuous across all relative values in the inversions.

The 3D MVI shows a possible continuation of the Sulphide City Mo-Cu Porphyry. This continuation is represented by the pale pink, magnetic radial stock (isosurface) in Figure 1 that correlates near perfectly with the boundaries of the newly modelled Mo-Cu Porphyry.

Mapped dykes and sills that are considered causative to the project-wide massive sulphide carbonate replacement and skarn mineralization show a perfect correlation to a magnetic isosurface/stock extending below the Pete's CRD Target, and proximal to the untested high chargeability anomaly (120 mV/V) located north of the 2023 drilling area. The dykes at Pete's Target are geochemically related to the Sulphide City Porphyry and may be connected to the rest of the system by narrow dykes that were not picked up by the resolution of the 3D MVI (60m resolution).

Amplitude isosurfaces, representing the overall strength of the magnetic response, correlate well with the proximal CRD and skarn skin surrounding the Sulphide City stock. Remanent magnetism isosurfaces, representing zones with a magnetic field of their own (i.e. different to that of the Earth - usually caused by magnetite or pyrrhotite) also overlie skarn and proximal CRD zones that have been mapped and cut with the drill bit at the Grizzly and Sulphide City targets. The geological model of the Sulphide City Stock, which was built without utilizing the 3D inversion data, and associated dykes correlate extremely well with the radial symmetry inversion data, bolstering the confidence of the team's interpretation of the magnetic inversion dataset. These coincident data will be used by Core Assets geologists for broader targeting across the Blue Property.

A newly discovered feature of note from this data is a radially symmetrical, anomalous, and tubular amplitude feature with a remnant magnetization halo - located approximately 750m to the south of the Gally Target. The southern end of the 2023 3D DC/IP survey covers a portion of this feature and has overlapping high chargeability and high conductivity anomalies. Marble beds with massive sulfide-bearing veinlets (see Figure 1 in News Release dated April 4, 2024) are also mapped overlying the otherwise overburden covered feature. This overlap of multiple features of note is tentatively interpreted as another intrusion related to the system at large with a surrounding massive sulphide skarn-CRD skin.

The 2D structure detection analysis applied to the 2021 VTEM data coincides strongly with mapped faults and dykes at Silver Lime. Mineralized structures and pebble dykes that were mapped and sampled in the Gally area and through the Gally-Sulphide City-Pete's Mineralized Trend over the 2023 field season and were traced for up to 225m along strike, have been traced through the structure detection filters applied by Fathom. Multiple un-sampled structures with similar strike lengths and apparent dips have also been traced via the structure detection analysis. Additional, larger-scale structures with a variety of strikes appear to encircle or bound the main mineralized areas and radially symmetrical isosurfaces at Silver Lime.

The filters and inversions were applied to the portion of the 2021 VTEM survey overlying the 9.5x10 km mineralized footprint of the SLM project, the entire VTEM survey was flown over approximately 15% of the entire Blue Property. The technical team has developed several robust theses based off incorporating the inversions with existing geochemical, structural, and diamond drilling data collected at Silver Lime, which will be tested over the 2024 field season. When additional data gathered over the upcoming season supports the interpretations developed, these targeting criteria will be able to be applied to the remainder of the property to support exploration further afield from the district-scale Silver Lime CRD-Porphyry Project.

THE 2024 EXPLORATION PROGRAM

The team is excited to continue building on several high priority targets for 2024 field season:

The Sulphide City Cu-Mo Porphyry Target
High-grade, near surface, structurally controlled CRD and skarn massive sulphide mineralization (Gally, Grizzly, Pete's, and Jackie)
Vein-Hosted Au+/-Cu+/-Ag (Falcon and Amp)
High-grade massive sulphide zinc skarn and mineralized porphyry potential (Willison West)
The newly interpreted porphyry stock south of Gally

Drilling over the 2024 field season will prioritize the deep extension of the Sulphide City Stock - utilizing the mag inversion data, geochemistry, and structural data to guide drilling. The intrusion south of the Gally target will be ground-truthed, and if boots on the ground data is supportive of the current interpretation this new target will be drill tested. Shallow CRD and skarn massive sulphide mineralization will also be opportunistically targeted with the diamond drill.

Figure 5 breaks down the highest priority generative targets for the 2024 field season. Early season ground-truthing and mapping will be conducted at the Willison West Target to follow up on sample 152231, which graded >30% Zn, 0.11 g/t Au, 38.2 g/t Ag, 0.31% Cu 0.09% Pb. The goal of the field work to be conducted at this target is to rapidly generate a new drill target for testing in the 2024 season. Mid- to late-season generative field work will be conducted at the Falcon and Amp targets to better understand the geological and structural controls on mineralization and expand the mineralized footprints of these zones. Grassroots targets (i.e. Willison North) have been identified through various methods and will also be targeted for mapping, prospecting, and initial interpretation using fly camps to reduce costs and provide mapping geologists with increased field time.

Figure 5: Plan map showcasing target areas to be focused on during the 2024 mapping and rock sampling field program.

NATIONAL INSTRUMENT 43-101 DISCLOSURE

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 100359) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

EQUIVALENCE CALCULATION

Assay results in this news release are presented as uncut weighted averages and assume 100% metal recovery. Interval widths represent drilled HQ core lengths and true width is unknown currently. Silver equivalent (AgEq) and Copper equivalent (CuEq) grades are calculated using metal prices of silver US$21.25/oz, gold US$1,850/oz, copper US$4.00/lb, lead US$1.00/lb, molybdenum at US$30.00/lb, and zinc US$1.40/lb. Silver equivalent grade is calculated as AgEq (g/t) = Ag (g/t) + (Cu (%) * 129.08) + (Pb (%) * 32.27) + (Zn (%) * 45.18) + (Au (g/t) * 87.06). Copper equivalent grade is calculated as CuEq (%) = Cu (%) + Ag*0.0077) + (Pb (%) * 0.25) + (Zn (%) * 0.35) + (Au (g/t) * 0.674 + (Mo (%) * 7.5). See News Release dated: Dec 14, 2023.

ABOUT CORE ASSETS CORP.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% ownership in the Blue Property, which covers a land area of114,074 hectares (~1,140 km²). The project lies within the Atlin Mining District, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue Property hosts a major structural feature known as The Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the Blue Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the Blue Property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in British Columbia's Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

On Behalf of the Board of Directors

CORE ASSETS CORP.

"Nicholas Rodway"
President & CEO
Tel: [phone]

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

FORWARD LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include, but are not limited to, expectations regarding the pending core assays, including speculative inferences about potential copper, molybdenum, gold, silver, zinc, and lead grades based on preliminary visual observations from results of diamond drilling at the Silver Lime Project and the Laverdiere Project, as applicable; the Company's plans to further investigate the geometry and extent of the skarn and carbonate replacement type mineralization continuum at the Silver Lime Project through additional field work and diamond drilling and any planned or proposed program related thereto; and any other general statement regarding the Company's planned or future exploration efforts at the Blue Property. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that expectations regarding pending core assays based on preliminary visual observations from diamond drilling results at the Silver Lime Project and the Laverdiere Project, as applicable, may be found to be inaccurate; that results may indicate further exploration efforts at the Silver Lime Project and the Laverdiere Project, as applicable, as not warranted; that the Company may be unable to implement its plans to further explore at the Silver Lime Project and the Laverdiere Project, as applicable; that certain exploration methods, including the Company's proposed exploration model for the Blue Property, may be ineffective or inadequate in the circumstances; that economic, competitive, governmental, geopolitical, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; that the Company may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out or complete our plans. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers 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. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, the Company will not update or revise these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

SOURCE: Core Assets Corp.

[Lone Clone]

Moon River Moly Has Completed the Acquisition of a 25% Interest in the Endako Molybdenum Mine

https://www.newsfilecorp.com/release/211194

May 30, 2024 5:03 PM EDT | Source: Moon River Moly Ltd.

Toronto, Ontario--(Newsfile Corp. - May 30, 2024) - Moon River Moly Ltd. (TSXV: MOO)

[Lone Clone]

Goliath Mobilizes For 15,000 Meter Drill Program To Test Surebet Feeder Source Plus Three New High-Grade Gold-Copper Targets Outcropping On Golddigger, Golden Triangle, B.C.

https://ca.finance.yahoo.com/news/goliath-mobilizes-15-000-meter-110800170.html

Goliath Resources Limited
Mon, June 3, 2024 at 4:08 a.m. PDT·13 min read

GOTRF
+0.42%

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The 2024 planned drill campaign at the Golddigger Property includes 62 holes from 22 drill pad locations with up to three diamond drill rigs for 15,000 meters.

The Surebet Discovery will see the vast bulk of meters planned with the balance testing three new highly mineralized gold-copper outcropping targets: Jackpot, Treasure Island and Full Contact that have the potential to provide additional upside catalysts for shareholders (see drill location map below).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4623943b-d843-44a9-a54e-a2f7f0e22b1f

Surebet Discovery

Surebet’s meters will be focused on testing its potential feeder source at depth below the valley floor, discovering new additional veins/shears, expansion of the known 10 vein footprint, and increased continuity (see image below).

Surebet highlights previously reported include:

44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size;

Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters;

11 holes to date are greater than 100 and up to 513 gm AuEq;

6 new vein horizons identified that could potentially increase economical tonnage that remain open;

The mineralized footprint of the Surebet discovery has been expanded to 1.8 km2, the equivalent in size to >336 NFL football fields;

Mineralization is exposed at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent with 700 meters of vertical relief;

Several lines of evidence, including metals and geochemical trace elements hot spots, zonation, type, origin of fluids and age of the mineralization strongly suggest vectoring in on possible Porphyry Feeder Source;

Goliath has diamond drilled 66,930 meters to date at the Golddigger property (2021 – 2023).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/352fc662-6261-4d73-bced-ba77959ec66d

Detailed surface mapping of the Surebet area also has played a major role in clearly defining the structural controls on the veins and consequently the gold and higher copper mineralization (see map below).

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a8622772-6a89-4ff4-90f8-cba55ea1c457

Three Maiden Drill Programs Of High-Grade Gold-Copper: Jackpot, Treasure Island and Full Contact

Treasure Island (Golddigger Cambria Icefields) drill target, highlights previously reported include:

Located on the Cambria Icefields, 36 km north of the Surebet Discovery;

Channel samples collected assayed up to 28.08 g/t AuEq (20.60 g/t Au, 63.60 g/t Ag and 5.04 % Cu) over 0.85 meters; and 3.54 g/t AuEq (0.13 g/t Au, 23.96 g/t Ag and 2.34 % Cu).

Widespread grab and chip samples collected assayed up to 11.08 g/t AuEq (0.04 g/t Au, 126.00 g/t Ag and 7.15 % Cu); and 8.00 g/t AuEq (5.85g/t Au, 20.70 g/t Ag and 1.43 % Cu);

A noteworthy 13 out of 19 grab and chip samples (68%) taken over a widespread area assayed >1.00 g/t AuEq and up to 8.4 % Cu;

An exceptional 15 out of 16 channel cuts (94%) assayed >1.00 g/t AuEq and up to 14.4 % Cu;

This high-grade copper-silver-gold discovery consists of multiple shear-hosted, polymetallic zones covering an outcropping area of approximately 550 by 450 meters and is NW-SE trending;

This new drill target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line” which has the most important discoveries and mines within a few thousand meters on either side of it.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/6acb690b-e4ec-4853-9d42-b2939d10a145

Jackpot (Surebet) drill target, highlights previously reported include:

Samples assayed 21.5 oz/ton AuEq or 667.40 g/t AuEq (636.00 g/t Au, 1,690.00 g/t Ag, 7.96 % Cu, 2.22 % Pb) and comes from a 30 cm wide quartz vein with 15 % chalcopyrite, 7 % pyrite, and 1 % galena;

Mineralization is hosted in a vein/shear comprised of strongly silicified Porphyritic Andesite within the Hazelton Volcanics;

This high-grade gold-copper discovery consists of at least 10 shear hosted quartz-sulphide veins within a 15 meter wide stockwork that extends for 50 meters along strike before being covered by overburden on either side, it remains open;

Multiple high-grade gold-copper samples have been collected within 150 meters of the new Jackpot outcrop believed to be related include Y607977 that assayed 44.40 g/t Au, 1,629.00 g/t Ag, 5.22 % Cu, 2.24% Pb, Y607989 that assayed 13.50 g/t Au, 32.10 g/t Ag, 0.09 % Cu, 0.42 % Pb and ST112903 that assayed 8.43 g/t Au, 694.00 g/t Ag, 0.39% Cu, 0.47 % Pb;

The outcropping stockwork of veins are near vertical and strike north-south hosted within a broader shear zone that can be traced for more than 500 meters with 400 meters of vertical relief and remains open;

The newly discovered Jackpot outcrop is believed to be connected to the Surebet Discovery as its proximal containing bonanza grades with similar textures, mineralogy, and geochemistry all within the volcanics.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/2db00582-8e84-4214-998f-76a93b336fdb

Full Contact (Golddigger Cambria Icefields) drill target, previously reported highlights include:

Located on the Cambria Icefields, 19 km northwest of the Surebet Discovery;

Samples assayed up to 101.13 g/t AuEq (3.25 oz/t) (101.00 g/t Au and 10 g/t Ag) and 1 % Cu, and it remains open;

This new discovery consists of a 1.4 km trend on the “Red Line” within which are multiple gossans;

A 70 meter zone of mineralized quartz veins and breccia that remains open in all directions has been identified in the immediate surroundings of the 101.13 g/t AuEq sample;

Mineralization consists primarily of pyrite, with lesser arsenopyrite and sphalerite disseminated within silicified zones, concentrating in veins and fractures;

Shares the same geological setting and alteration as the Bonanza Shear, part of the Surebet Discovery with mineralization forming around the volcanic-sedimentary units contact;

This new drill target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line” which has the most important discoveries and mines within a few thousand meters on either side of it.

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4a9b24cb-42bf-4d6c-a197-ff2cf5305834

Additional Highlights Previously Reported:

Exceptional metallurgical recoveries of 92.2% Gold from gravity & flotation, inclusive of 48.8% Free Gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.

Colorado School of Mines has confirmed an extensive porphyry feeder source at depth for the high-grade gold-silver mineralising fluids at Surebet providing excellent potential for additional upside drill discovery and expansion at depth.

Based on positive grass roots exploration and drill results, Goliath significantly increased its land package from 23,859 hectares to 66,608 hectares (164,592 acres), and now controls 56 kilometers of key terrain of the Red Line providing for additional upside discovery potential.

Goliath has completed a total of 66,930 meters of diamond drilling to date at the Golddigger Property (2021 – 2023).

The Golddigger Property sits on tidewater with barge access to Prince Rupert (190km south) and close to infrastructure.

TORONTO, June 03, 2024 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report it has mobilized for its 2024 exploration / drilling campaign and is planning on 15,000 meters of diamond drilling including three maiden drill programs at its 100% controlled Golddigger Project. This project is on tide water in a world class geological setting near Stewart, in the Golden Triangle of British Columbia. The Homestake Ridge Deposit & Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.

The maiden drill campaign in 2021 totaling 5,338 meters intercepted significant widths and gold mineralization in 100% of the holes drilled. To date there has been an aggregate of 66,930 meters drilled that include the follow up campaigns in 2022 and 2023 at the Golddigger Property. In 2023, there was a 97% success hit rate as 86 holes of 92 totaling intercepted significant widths of high-grade gold over a 1.8 square kilometer area at Surebet. This 1.8 square kilometer area also has mineralization exposed at surface for 1.0 kilometers of strike, 1.1 kilometers down-dip extent with 700 meters of vertical relief.

Mr. Roger Rosmus, Founder & CEO of Goliath states: “We are very pleased to have mobilized for another aggressive drill campaign after extensive analysis and updated modeling post our successful 2023 drill campaign at our 100% controlled Golddigger Property. We feel this additional data has significantly increased our understanding of the highly mineralized Surebet Discovery that will help us vector in on drilling into the feeder source of this large 1.8 sqkm area of mineralization. In addition, there will be three maiden drill campaigns at newly discovered high-grade targets exposed at surface. These new drill targets include Jackpot which is believed to be an extension/possible feeder source of Surebet, plus two VMS type targets far to the north on the Golddigger’s Cambria Icefields, Treasure Island and Full Contact. All of these new untested targets provide for additional blue-sky and material drill discovery potential for this year. The Golddigger Property is in a geo-political safe mining jurisdiction, a key geologic setting where many world-class deposits have been discovered to become mines and remains a key area of interest for many producers. We look forward to reporting our 2024 exploration and drilling results as they are received, compiled, and interpreted.”

Golddigger Property

The Golddigger Property is 100% controlled covering an area of 66,608 hectares (164,592 acres) and is in the world class geological setting of the Eskay Rift within the Golden Triangle of British Columbia and within 3 kilometers of the Red Line that is host to multiple world class deposits.

The Surebet discovery has exceptional metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date).

It is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the East of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport with supplies.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Other

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

Grab, channels, chip, and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

Option and RSU Grant

The Company has granted stock options to directors and officers to purchase an aggregate of 2,000,000 common shares of the Company. The stock options will be exercisable at a price of $0.96 per share with an expiry of five years from issuance. Goliath has also granted an aggregate of 2,566,000 restricted share units to officers and directors of the Company, which will vest equally over three years, with first vesting occurring after one year. The grant of options and restricted share units are subject to the Company's omnibus equity incentive plan.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath has key strategic cornerstone shareholders that include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: [phone]
[e-mail]
www.goliathresourcesltd.com

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: AuEq metal values are calculated using: Au 1924.79 USD/oz, Ag 22.76 USD/oz, Cu 3.75 USD/lbs, Pb 2128.75 USD/ton and Zn 2468.50 USD/ton on December 23, 2023. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated 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 laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

[Lone Clone]

CMC Metals Plans to Initiate Geophysical Studies to Help Define Potential Drill Targets at Its Silverknife and Amy Properties and Announces Discussions Progressing on Its Silverknife Property

https://www.accesswire.com/871169/cmc-metals-ltd-plans-to-initiate-geophysical-studies-to-help-define-potential-drill-targets-at-its-silverknife-and-amy-properties-and-announces-discussions-progressing-on-its-silverknife-property

Tuesday, 04 June 2024 08:00 AM

VANCOUVER, BC / ACCESSWIRE / June 4, 2024 / CMC Metals Ltd. (TSXV:CMB)(FRA:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce that the Company hopes to soon initiate geophysical studies (i.e. CSAMT and/or Induced Polarization) in areas on its Silverknife and Amy properties where airborne geophysics have identified significant high conductivity targets.

The current outcome of an airborne electromagnetic survey completed by SkyTEM in 2021 (see press releases April 20, 2021, May 11, 2022 and April 16, 2024), was the identification of several large areas with conductivity anomalies on the Silverknife and Amy properties in British Columbia, Canada (see Figures 1-3). The potential targets at Silverknife and Amy are high grade silver-lead-zinc carbonate replacement and skarn deposits.

The proposed studies would provide a measure of resistivity. Simply put, material with low resistivity allows electrons to move through it easily and it therefore tends to also be highly conductive. Silver is a very highly conductive elements that makes it suitable for a large number of industrial applications. Therefore, a target from a resistivity survey containing silver would be one characterized by low resistivity.

Resistivity studies may help to define specific contacts between units such as limestones and granites, with the target host being a limestone. Limestones, especially cracked or faulted ones, also typically have low resistivity values, while intrusions like granites will have a much higher resistivity. Resistivity studies can present a lot of information and help to define specific targets, contact relationships, and possible fault structures which are key known controls for mineralization in the Rancheria Silver District

Previous SkyTEM surveys have identified large conductivity anomalies in areas such as Tootsee North and the South-central Zones of the Silverknife Property. In the Tootsee North Zone the conductivity anomaly is coincident with a gravity anomaly (see press release dated August 10, 2022) and preliminary mapping has indicated the presence of limestones in outcrops all of which are positive features for exploration. However, the existing targets are still rather broad targets over an area characterized with a lot of overburden and therefore need more definition.

It is therefore the hope that additional ground geophysical studies and grid based geological mapping will serve to better define near term drill targets to depths of 250-300 meters or more.

The Silverknife and Amy properties are 100% owned by CMC Metals Ltd. They have been the subject of considerable historical exploration dating back to as early as the 1960's by several previous operators. There is a considerable database of geochemical and geological data from this previous work that has been compiled and will also be used.

In addition, CMC has been in active discussions over potential interest expressed in an earn-in agreement for the Silverknife Project. The Company is hopeful that an offer may be tabled on or before mid-June. Discussions to date have not discussed any project specifics or any financial and/or operational considerations. It is therefore not known if any terms when, and if presented, will be acceptable to the Company and therefore this information should not be considered for any possible investment purposes or be construed as a solicitation. This is presented merely to present a full scope of activities ongoing with respect to the Silverknife Project.

Mr. John Bossio, Chairman of the Company noted "We eagerly anticipate a potential offer for our Silverknife Project as it will help to advance the project and allow us to focus on our other emerging projects in the rancheria Silver District and elsewhere."

Mr. Kevin Brewer, P.Geo. and President and CEO of the Company noted that "We are eager to get back to exploring Silverknife this year and to advance permitting for our Amy project. Our post-season work for the Silverknife project resulted in several targets being identified that now merit further evaluation with the objective to establish near-term drill targets."

Qualified Person

Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining 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 for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silverknife and Amy projects (British Columbia) and the Silver Hart Deposit and Blue Heaven claims (Yukon). Our other polymetallic projects include Bridal Veil (Newfoundland) and Logjam (Yukon).

On behalf of the Board:
"John Bossio"
John Bossio, Chairman
CMC METALS LTD.

For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: [phone]
[e-mail]
Suite 1000-409 Granville St., Vancouver, BC
V6C 1T2

To be added to CMC's news distribution list, please send an email to [e-mail] or contact Mr. Kevin Brewer directly.

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 www.sedar.com. 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."

Figure 1: Conductivity plot at an elevation of ~950m (approximately 250-350 meters below the 1200-1300 meter surface elevation) in the Tootsee North and South-Central Zones at Silverknife. Both anomalies present potential drill targets given that are further supported by an anomalous mass in the 2022 and 2023 gravity surveys presented in Figure 2 (Source: Intelligent Exploration, 2022).



Figure 2: Gravity Bouguer anomalies in the Tootsee North and South Central Zones at Silverknife that are coincident with conductivity anomalies identified by the 2021 SkyTEM airborne EM survey (Source: Intelligent Exploration, 2023)



Figure 3: Looking northeastwards across the Silverknife Property, a conductivity anomaly extends across the entire property which is now called the South-central zone. This anomaly was originally identified from the 2021 SkyTEM airborne is now also known to be coincident with a gravity anomaly and geochemical anomalies. Also note the conductivity anomalies in the Tootsee North zone and the South Silverknife Zone where mapping has identified the presence of McDame limestones (Source: Intelligent Exploration, 2022).



SOURCE: CMC Metals Ltd.

[Lone Clone]

Trailbreaker Resources Completes Magnetic Survey at Eagle Lake Property

https://ca.finance.yahoo.com/news/trailbreaker-resources-completes-magnetic-survey-114500007.html

Trailbreaker Resources Ltd.
Mon, June 3, 2024 at 4:45 a.m. PDT·5 min read

APRAF
+3.01%

VANCOUVER, British Columbia, June 03, 2024 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has completed a high-resolution ground magnetic survey over the Moffat zone at the Eagle Lake property. The survey covers an area of approximately 4 km2 comprising overlapping multi-element mobile-metal ion (MMI) soil anomalies, induced-polarization (IP) chargeability high features, and historic drill results, including 3.52 g/t gold (Au) over 9.9 m in drillhole MOF-5. The Moffat zone is located directly south of, and in a similar geological setting associated with the Takomkane Batholith, to the Woodjam project held by Vizsla Copper Corp. (“Vizsla Copper”), which has an inferred resource of 1.71 billion pounds of copper (Cu) and 968,100 ounces of Au.

The ground magnetic survey has highlighted two sets of magnetic lineaments; one which trends northwest-southeast, and the other north-northwest (Figure 1). Historic mineralized drill results and multi-element MMI anomalies occur near the intersection of these lineaments. The magnetic survey results also highlight multiple intrusive phases with distinct concentrations of magnetite and corresponding alteration assemblages. Geological observations associated with strong magnetic high features indicate the presence of magnetite ± chalcopyrite ± malachite on northwest trending joint surfaces.

In addition, Vizsla Copper has informed Trailbreaker that they intend to exercise the terms of the first anniversary of the option agreement for four claim blocks north of the Moffat zone that are a part of the Eagle Lake property (see news release dated June 12, 2023). Vizsla Copper will issue 50,000 common shares to Trailbreaker to meet the first-year requirements of the option agreement.

Message from the President

“The ground magnetic survey has created a great value-add data set which highlights potential mineralization controls at the Moffat zone. It provides another layer of coincident data which reinforces our exploration model and will improve future targeting. We are also excited to continue being exposed to the exploration efforts of Vizsla Copper.” – Daithi Mac Gearailt

Moffat Zone Target Description

The Moffat zone is the primary target on the Eagle Lake property and is defined by an 850 x 700 m gold-copper-silver-molybdenum (Au-Cu-Ag-Mo) MMI soil anomaly. This anomaly extends east and north of historic drillhole MOF-5, which returned 3.52 g/t Au over 9.9 m from 253 m depth. Mineralization in MOF-5 is associated with quartz vein stockwork and hydrothermal breccia, interpreted to be associated with regional-scale structures cutting the host Takomkane Batholith. The ground magnetic survey highlights these structures and important structural intersections at the Moffat zone.



Total magnetic field (TMI) over the Moffat zone with magnetic lineaments and magnetic low features highlighted, showing potential controls on mineralization, such as 3.52 g/t Au over 9.9 m in MOF-05. Multi-element MMI soil anomalies are coincident with the intersection of the northwest and north-northwest lineaments and local magnetic lows.

Figure 1: Total magnetic field (TMI) over the Moffat zone with magnetic lineaments and magnetic low features highlighted, showing potential controls on mineralization, such as 3.52 g/t Au over 9.9 m in MOF-05. Multi-element MMI soil anomalies are coincident with the intersection of the northwest and north-northwest lineaments and local magnetic lows.

About the Eagle Lake Property

The Eagle Lake property covers over 11,100 hectares of ground across seven claim blocks prospective for porphyry copper-gold and mesothermal gold mineralization in the Cariboo Mining district. The property is located approximately 55 km east of Williams Lake, British Columbia (BC) and is fully accessible by an extensive network of forest service roads.

The four northern claim blocks, totaling ~6,500 hectares, are under an option agreement with Vizsla Copper (see news release dated June 12, 2023). The optioned claims are subject to a 2% NSR (Net Smelter Return royalty). Teck Resources Limited (“Teck”) holds an underlying 1% NSR on three of the four claim blocks, splitting the 2% NSR into 1% each for Teck and Trailbreaker on these three blocks. Trailbreaker retains the entirety of the 2% NSR on the fourth claim block. Half of the 1% NSR on three claim blocks may be bought from Trailbreaker for $500,000. Half of the 2% Trailbreaker royalty may be purchased for $1,000,000.

The remaining three claim blocks, covering the Moffat zone, are 100%-owned by Trailbreaker, with a portion subject to a 1% NSR retained by Teck. These claim blocks cover an area of ~4,700 hectares.

The Eagle Lake property is situated within the Quesnel terrane, which is host to several of BC’s large tonnage copper-gold porphyry deposits (e.g. Mount Polley and Gibraltar mines) and notable mesothermal deposits (e.g. Spanish Mountain Gold and the Cariboo Gold Project). The property is underlain by Late Triassic to Early Jurassic intrusive rocks of the Takomkane Batholith, with minor late Triassic volcanic rocks of the Nicola Group. This is a similar geological setting to the Woodjam project directly to the north, which has an inferred resource of 1.71 billion pounds of Cu and 968,100 ounces of Au.

Golden Sable Option Agreement

Trailbreaker has opted to decline the first anniversary payment and to terminate its option agreement to acquire the Golden Sable property. The property and data have been returned to the optionor. Following compilation of 2023 results, Trailbreaker determined that the project did not meet the company’s requirements for continued exploration moving forward.

About Trailbreaker Resources

Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.

ON BEHALF OF THE BOARD

Daithi Mac Gearailt
President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.

Other

For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at [phone] or at [e-mail].

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.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking 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. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/94317593-625f-448c-9fe6-54abc97a4a4b

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Taseko Announces that Operations at its Gibraltar Mine have been Suspended

https://www.prnewswire.com/news-releases/taseko-announces-that-operations-at-its-gibraltar-mine-have-been-suspended-302161143.html

Taseko Mines Limited Jun 01, 2024, 13:10 ET

VANCOUVER, BC, June 1, 2024 /PRNewswire/ - Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB) (LSE: TKO) ("Taseko" or the "Company") announced today that operations at the Company's Gibraltar Mine have been suspended.

Collective bargaining with Gibraltar's union representatives has been ongoing in recent weeks, and ended late yesterday without an agreement being reached. Gibraltar's unionized workforce informed the Company that they intended to take strike action as of midnight, May 31, 2024. The Company elected to systematically shut down mining and milling operations prior to the midnight deadline, and the mine is now on care and maintenance with only essential staff operating and maintaining critical systems.

The Company remains committed to the bargaining process and reaching a fair and equitable agreement.

For further information on Taseko, see the Company's website at www.tasekomines.com

Stuart McDonald
President and CEO

No regulatory authority has approved or disapproved of the information contained in this news release.


Caution Regarding Forward-Looking Information
This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:

uncertainties about the future market price of copper and the other metals that we produce or may seek to produce;
changes in general economic conditions, the financial markets, inflation and interest rates and in the demand and market price for our input costs, such as diesel fuel, reagents, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;
uncertainties resulting from the war in Ukraine, and the accompanying international response including economic sanctions levied against Russia, which has disrupted the global economy, created increased volatility in commodity markets (including oil and gas prices), and disrupted international trade and financial markets, all of which have an ongoing and uncertain effect on global economics, supply chains, availability of materials and equipment and execution timelines for project development;
uncertainties about the continuing impact of the novel coronavirus ("COVID-19") and the response of local, provincial, state, federal and international governments to the ongoing threat of COVID-19, on our operations (including our suppliers, customers, supply chains, employees and contractors) and economic conditions generally including rising inflation levels and in particular with respect to the demand for copper and other metals we produce;
inherent risks associated with mining operations, including our current mining operations at Gibraltar, and their potential impact on our ability to achieve our production estimates;
uncertainties as to our ability to control our operating costs, including inflationary cost pressures at Gibraltar without impacting our planned copper production;
the risk of inadequate insurance or inability to obtain insurance to cover material mining or operational risks;
uncertainties related to the feasibility study for Florence copper project (the "Florence Copper Project" or "Florence Copper") that provides estimates of expected or anticipated capital and operating costs, expenditures and economic returns from this mining project, including the impact of inflation on the estimated costs related to the construction of the Florence Copper Project and our other development projects;
the risk that the results from our operations of the Florence Copper production test facility ("PTF") and ongoing engineering work including updated capital and operating costs will negatively impact our estimates for current projected economics for commercial operations at Florence Copper;
uncertainties related to the accuracy of our estimates of Mineral Reserves (as defined below), Mineral Resources (as defined below), production rates and timing of production, future production and future cash and total costs of production and milling;
the risk that we may not be able to expand or replace reserves as our existing mineral reserves are mined;
the availability of, and uncertainties relating to the development of, additional financing and infrastructure necessary for the advancement of our development projects, including with respect to our ability to obtain any remaining construction financing potentially needed to move forward with commercial operations at Florence Copper;
our ability to comply with the extensive governmental regulation to which our business is subject;
uncertainties related to our ability to obtain necessary title, licenses and permits for our development projects and project delays due to third party opposition;
our ability to deploy strategic capital and award key contracts to assist with protecting the Florence Copper project execution plan, mitigating inflation risk and the potential impact of supply chain disruptions on our construction schedule and ensuring a smooth transition into construction;
uncertainties related to First Nations claims and consultation issues;
our reliance on rail transportation and port terminals for shipping our copper concentrate production from Gibraltar;
uncertainties related to unexpected judicial or regulatory proceedings;
changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations and mine closure and bonding requirements;
our dependence solely on our 87.5% interest in Gibraltar (as defined below) for revenues and operating cashflows;
our ability to collect payments from customers, extend existing concentrate off-take agreements or enter into new agreements;
environmental issues and liabilities associated with mining including processing and stock piling ore;
labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate our mine, industrial accidents, equipment failure or other events or occurrences, including third party interference that interrupt the production of minerals in our mine;
environmental hazards and risks associated with climate change, including the potential for damage to infrastructure and stoppages of operations due to forest fires, flooding, drought, or other natural events in the vicinity of our operations;
litigation risks and the inherent uncertainty of litigation, including litigation to which Florence Copper could be subject to;
our actual costs of reclamation and mine closure may exceed our current estimates of these liabilities;
our ability to meet the financial reclamation security requirements for the Gibraltar mine and Florence Project;
the capital intensive nature of our business both to sustain current mining operations and to develop any new projects, including Florence Copper;
our reliance upon key management and operating personnel;
the competitive environment in which we operate;
the effects of forward selling instruments to protect against fluctuations in copper prices, foreign exchange, interest rates or input costs such as fuel;
the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; and Management Discussion and Analysis ("MD&A"), quarterly reports and material change reports filed with and furnished to securities regulators, and those risks which are discussed under the heading "Risk Factors".

For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com, including the "Risk Factors" included in our Annual Information Form.

SOURCE Taseko Mines Limited

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Sun Summit Identifies Multiple Zones of High-Grade Gold and Silver Mineralization in Historical Trenching at the JD Project in B.C.

https://www.newsfilecorp.com/release/210727

May 28, 2024 7:00 AM EDT | Source: Sun Summit Minerals Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF)

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Surge Copper Announces Commences Berg PFS Metallurgical Test Program and Closing of $3.9M Strategic Placement

https://ca.finance.yahoo.com/news/surge-copper-announces-closing-3-131400568.html

Surge Copper Corp.
Fri, May 31, 2024 at 6:14 a.m. PDT·5 min read

SRGXF
-5.69%

Vancouver, British Columbia, May 31, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce that it has closed its previously announced strategic placement (the “Strategic Placement”) (see April 2, 2024 press release) for gross proceeds of approximately $3.9 million. In addition, the Company announces that it has completed sample selection and shipped the sample material to commence a pre-feasibility study (“PFS”) metallurgy program for the Berg Project.

Leif Nilsson, Chief Executive Officer, commented: “We are delighted to welcome ARM as a new strategic investor in Surge, and look forward to drawing on their project development and operational expertise as we advance the Berg Project. Between this strategic placement and the recently closed side-car private placement, Surge has now completed a $5 million funding package to deliver several technical work streams to advance the Berg Project toward PFS. We are excited to be commencing the metallurgical test work program and look forward to kicking off our field program in the coming weeks.”

Berg Metallurgical Test Work Program

Surge has engaged ALS Metallurgy Kamloops to complete a comprehensive metallurgical test work program for the Berg Project which will run for approximately 6 months and is designed to advance flow sheet design parameters and confirm metal recoveries acceptable for use in a PFS. Approximately 2,000 kilograms of material has been sampled from exploration drill core obtained during recent drilling campaigns, which has been kept in cold storage since it was originally drilled. The samples have been selected from various volumetric locations within the Berg deposit and provide a range of different grades, rock types, and weathering profiles. These samples will be used to form both variability and master composites that are representative of mill feed material throughout the mine plan outlined in the preliminary economic assessment. The test work regime will encompass standard comminution tests, QEMSCAN mineralogical analyses, sequential copper assays, open circuit and locked cycle bench flotation tests, and copper-molybdenum separation tests. Samples have been shipped to the laboratory and sample prep is expected to begin shortly.

Strategic Placement

Under the terms of the Strategic Placement, African Rainbow Minerals Limited (“ARM”) has subscribed for 41,373,414 common shares of Surge (the “Strategic Placement Common Shares”) at a price of $0.095 per Strategic Placement Common Share for gross proceeds of C$3,930,474, representing a 15.0% interest in Surge on a non-diluted basis.

Surge and ARM have entered into an investor rights agreement (the “IRA”) which grants ARM certain rights in the event it maintains minimum ownership thresholds in the Company, including the right to maintain its ownership position through future equity financings, and the right to appoint a member to a technical advisory committee to be formed following closing of the Strategic Placement. Additionally, the IRA includes a covenant from ARM, for a period of two years, to vote in favour of management’s recommendations on routine matters to be approved by the shareholders of the Company. Furthermore, ARM has agreed in the IRA to a two-year standstill with respect to the acquisition of ?additional securities of the Company which would result in ARM owning greater than 19.9% of ?the then issued and outstanding common shares of the Company on a non-diluted basis, subject ?to exceptions customary for a standstill of this nature. So long as ARM’s ownership interest is at ?least 19.9% of Surge’s issued and outstanding common shares on a non-diluted basis, ARM will ?have the right to nominate one director to the Company’s board of directors.?

The net proceeds from the Strategic Placement will be used to fund the advancement of the Berg Project, exploration, and for working capital and general corporate purposes. The Strategic ?Placement Common Shares are subject to a hold period of four months and one day ?from the date of issuance.? No finders fees were paid in connection with the Strategic Placement.

Qualified Person

Dr. Shane Ebert P.Geo., President of the Company, is the Qualified Person for the Berg Project and the Ootsa Property as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 41-101") and has approved the technical and scientific disclosure contained in this news release.

About Surge Copper Corp.

Surge Copper Corp. is a Canadian company that is advancing an emerging critical metals district in a well-developed region of British Columbia, Canada. The Company owns a large, contiguous mineral claim package that hosts multiple advanced porphyry deposits with pit-constrained NI 43-101 compliant resources of copper, molybdenum, gold, and silver – metals which are critical inputs to the low-carbon energy transition and associated electrification technologies.

The Company owns a 100% interest in the Berg Project, for which it announced a maiden PEA in June 2023 outlining a large-scale, long-life project with a simple design and high outputs of critical minerals located in a safe jurisdiction near world-class infrastructure. The PEA highlights base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and US$1,800/oz gold. The Berg deposit contains pit-constrained 43-101 compliant resources of copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories.1

The Company also owns a 100% interest in the Ootsa Property, an advanced-stage exploration project containing the Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit-constrained NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured, Indicated, and Inferred categories.

On Behalf of the Board of Directors

“Leif Nilsson”
Chief Executive Officer

For further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: [phone]
Email: [e-mail]
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://www.surgecopper.com

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

This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward-looking statements, including but not limited to: the use of proceeds from the Strategic Placement and side-car financing, including without limitation, to deliver several technical work streams to advance the Berg Project toward PFS, and the ability to do so, and commencement of the metallurgical test work program; ARM's exercise of its rights grants under the IRA, if at all; the planned technical work programs in support of a PFS for the Berg? Project, including timing and results thereof, along with the timing for announcing same; and the Company’s plans regarding the Berg Project and the Ootsa Property.

These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, including but not limited to, in connection with the work programs of the PFS, for example, not yielding results as anticipated, cost exceeding estimates, and timing concerns, delays in obtaining or failure to obtain required government or other regulatory approvals, the ability to obtain adequate financing to conduct its planned exploration programs, inability to procure labour, equipment, and supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus pandemic, and bad weather.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

1 For further details regarding the PEA and the mineral resource estimate, including, without limitation, the various assumptions and parameters, data verification, sampling and analysis, quality control and related matters, refer to the NI 43-101 technical report titled, "Berg Project: NI 43-101 Technical Report and Preliminary Economic Assessment, 2023" which can be found on SEDAR+ under the Company’s profile at www.sedarplus.ca.

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Torr Metals Adds Multiple New Exploration Targets with 75% Expansion of Kolos Copper-Gold Project

https://ca.finance.yahoo.com/news/torr-metals-adds-multiple-exploration-120000738.html

TORR Metals, Inc.
Wed, May 29, 2024 at 5:00 a.m. PDT·7 min read

TMET.V
0.00%

Figure 1. Kolos Project



Kolos Project location within the prolific porphyry belt of the Quesnel Terrane in south-central British Columbia. Figure including locations of Late Triassic Alkaline and Calc-Alkaline intrusions modified from Mitchinson et al. 20224. Note comparisons with regional porphyry deposits are not indicative of mineralization on the Kolos Project.

Figure 2. Project Claim Expansions



Location of the Project claim expansions with 2023 and historical soil sample results and target locations on the Kolos Project, overlying a regional RMI-VD geophysical survey.
Figure 3. Mineralized Outcrop at the Newly Defined Vik Zone



Photo of mineralized outcrop at the newly defined Vik Zone, consisting of strongly sheared and hornfelsed volcanics (Nicola Group). ZTEM geophysics indicates potential for the hydrothermal mineralization and alteration to be sourced from a proximal highly prospective intrusion to the north.
VANCOUVER, British Columbia, May 29, 2024 (GLOBE NEWSWIRE) -- via IBN – Torr Metals Inc. (“Torr” or the "Company") (TSX-V: TMET.V) is pleased to announce that through staking it has significantly increased the size of the Kolos Copper-Gold Project (the “Project”) by 75% from an approximate 140 km2 to 240 km2 (Figure 1, Figure 2). The new mineral claims (“the Claims”) focus on northern expansion, following an extension of the north-trending Fanta Fault, an orientation identified by the Company as a major structural control on copper (Cu) and gold (Au) mineralization in the area. Along with the project expansion, the Company has mobilized a field team in preparation for an upcoming 2024 field season to conduct early reconnaissance at multiple newly identified exploration targets, as well as a new mineralized outcrop discovery at the Vik Zone (Figure 2, Figure 3).

Located approximately 30 kilometers (km) southeast of Canada’s largest open-pit copper mine at Highland Valley, the 100% owned ~240 km2 Kolos Copper-Gold Project is located on Highway 5 just 23 kilometers (km) north-northeast of the city of Merritt, British Columbia.

Highlights:

Newly Discovered Vik Zone (Figure 2, Figure 3): Torr is the first to identify and sample a new mineralized rock outcrop exposure located within an area identified as a potential source to anomalous historical silt samples within the eastern portion of the Project area. A 2023 rock grab sample yielded 379 parts per million (ppm) Cu and 238 ppm molybdenum (Mo) and is identified as being peripheral to a nearby high resistivity ZTEM anomaly. This anomaly is interpreted as a potential source intrusion for the mineralization and will be one of the exploration targets for early reconnaissance in 2024.

New Highly Prospective Exploration Targets: The Claims cover multiple new exploration areas in the northern and eastern portions of the expanded Project, where historical exploration has been minimal to non-existent:

Within the new northern extension Torr has identified two large-scale low magnetic geophysical anomalies that exhibit the same signature coincident with the nearby historical Ram soil anomaly, which is defined by a footprint of >200 ppm Cu measuring 900 meters (m) by 500 m (Figure 2).

Multiple untested high resistivity ZTEM anomalies (see April 24, 2024 news release) have been identified within a low magnetic geophysical signature at the newly discovered Vik Zone, suggesting a high degree of prospectivity. This is comparable to a large, unexplored circular magnetic low surrounded by magnetic highs to the north, mapped as a Late Triassic to Early Jurassic diorite to granodiorite intrusion; interpreted as a potential source of anomalous historical silt samples that yielded up to 219 g/t silver (Ag) (Figure 2).

Accessibility and Exploration Upside: All new target areas are untested by drilling and road-accessible via Highway 5. Reconnaissance 2024 field sampling will provide further insights into the immense exploration potential of the largely underexplored Kolos Project.

Malcolm Dorsey, President and CEO, commented, "By securing these new claims at low cost, we've strategically expanded our footprint to include highly prospective ground to the east and north, incorporating the historical Ram soil anomaly as well as multiple new exploration targets. While our main focus remains on the more advanced drill-ready Lodi, Kirby, Ace, Rea, and Clapperton Zones, the new discovery of the Vik Zone demonstrates the effectiveness of our exploration model in finding highly anomalous mineralization in unexplored areas. As such this expansion further enhances our long-term growth potential and places us in a favourable position for potential new grassroots discoveries in the upcoming 2024 field season.”

1Highland Valley: 338,300,000 @0.31% Cu (P&P), 582,800,000 tonnes @ 0.30% Cu (Measured), 626,700,000 tonnes @ 0.26% Cu (Indicated) and 232,300,000 tonnes @ 0.22% Cu (Inferred). Teck Mineral Resources Annual Information For February 23, 2022 (Teck.com).

2New Afton: 34,087,000 @ 0.67 g/t Au, 1.69 g/t Ag, 0.73% Cu (P & P), 73,976,000 @0.57 g/t Au, 2.14 g/t Ag, 0.70% Cu (M & I), 10,219,000 @0.33 g/t Au, 1.36 g/t Ag, 0.45% Cu (inferred). New Afton Reserves and Resources Summary December 31, 2023 (Newgold.com).

3Copper Mountain: 367,000,000 tonnes of 0.12 g/t Au, 0.7 g/t Ag, 0.25% Cu (Proven and Probable), 138,000,000 tonnes @ 0.10 g/t Au, 0.7 g/t Ag, 0.21% Cu (M &I), 371,000,000 tonnes @0.13 g/t Au, 0.6 g/t Ag, 0.25% Cu. Copper Mountain January 1, 2024 Mineral Resources (hudbayminerals.com).

4Mitchinson, D.E., Fournier, D., Hart, C.J.R., Astic, T., Cowan, D.C., and Lee, R.G. (2022). Identification of New Porphyry Potential Under Cover in British Columbia. Geoscience BC Report 2022-07, MDRU Publication 457, 97 p.

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the “B” horizon soil samples underwent screening to 180 microns under the ALS code PREP-41. The samples were digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Kolos Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control (“QA/QC”) measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.

Qualified Person

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.

About Torr Metals

Torr Metals is a Vancouver-based mineral exploration company focused on defining and developing the substantial exploration potential of the ~240 km2 Kolos Copper-Gold Project, located within the prolific Quesnel Terrane in Central British Columbia. Year-round access is provided by Highway 5, with the project being favourably located 23 km north of the city of Merritt and 286 km by highway from Vancouver, British Columbia. For further details about the Latham Copper-Gold Project, please refer to the Company's website or current geological Technical Report (August 24, 2021) filed on November 25, 2021, under the Company's profile on SEDAR at www.sedar.com.

On behalf of the Board of Directors
Torr Metals Inc.

"Malcolm Dorsey"

Malcolm Dorsey
President, CEO and Director

For further information:
Malcolm Dorsey
Telephone: [phone]
Email: [e-mail]

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 www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Corporate Communications:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[e-mail]

Attachments

Figure 1. Kolos Project

Figure 2. Project Claim Expansions

Figure 3. Mineralized Outcrop at the Newly Defined Vik Zone

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NEW GOLD INTERSECTS WIDE, HIGH-GRADE COPPER-GOLD PORPHYRY MINERALIZATION AT NEW AFTON'S K-ZONE

https://www.newswire.ca/news-releases/new-gold-intersects-wide-high-grade-copper-gold-porphyry-mineralization-at-new-afton-s-k-zone-895797366.html

New Gold Inc. May 29, 2024, 17:00 ET

EXTENDS K-ZONE ABOVE THE ELEVATION OF THE C-ZONE EXTRACTION LEVEL

TORONTO, May 29, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD)

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Red Canyon Commences Drilling at its 100% Owned Peak Copper-Gold Project

https://thenewswire.com/press-releases/1k49FgyGX-red-canyon-commences-drilling-at-its-100-owned-peak-copper-gold-project.html

Vancouver, British Columbia – TheNewswire - May 30, 2024: Red Canyon Resources Ltd. (“Red Canyon” or the “Company”) (CSE: REDC | OTCQB: REDRF) is pleased to announce it has commenced diamond drilling on its 100% owned Peak Project in central British Columbia. The Company is focused on impactful, value-add exploration to make discoveries of copper and copper-gold deposits in established mineral belts in North America.

Company Highlights:

The Company’s Peak copper-gold project in central British Columbia has multiple copper- gold targets highlighted by magnetic features, coincident Induced Polarization (IP) anomalies and elevated copper geochemistry. Peak represents a 6,560-hectare, strategic land position situated in a coppergold district with active large scale mining operations nearby and excellent infrastructure.

This initial program, of up to 2,000m of diamond drilling, will consists of 2-6 drill holes to test a series of high priority copper-gold porphyry targets.

The Company’s main priority is to test Peak Central. A previous IP survey at Peak Central outlined a large chargeability zone and a deep resistive centre, west of outcropping copper bearing porphyritic rocks grading up to 2% copper.

The Peak project represents a series of complex magnetic highs and lows spanning approximately 15km of interpreted Quesnellia Island Arc Terrane. The Company has identified four additional priority targets, north of Peak Central with IP chargeability highs coincident with elevated copper geochemistry and interpreted intrusion related magnetic features.

The Company controls a portfolio of seven 100%-owned, internally generated copper and copper – gold projects in British Columbia and the Western US, four of which are drill ready.

Wendell Zerb, the Chairman and CEO of the Company, states: "We are excited for this first phase drill program largely targeting the Peak Central zone. This intriguing area has complex magnetic features in combination with widespread elevated copper soil geochemistry, copper in porphyritic outcrops, impressive IP chargeability and resistivity targets. These coincident features, in combination with outstanding infrastructure, make this an excellent, high-priority copper-gold porphyry target”.

Peak Project

The Peak property is located in the Cariboo region of south-central British Columbia, approximately 30 km NE of the City of Williams Lake. Peak is a large, 100% owned 6,560-hectare, strategic land position situated in a copper-gold district with active large scale mining operations and excellent infrastructure. The Project is located approximately 28 km southwest of the Mount Polley copper-gold mine and 20 km southeast of the Gibraltar copper-molybdenum mine.


Click Image To View Full Size

Figure 1: Location Map

A series of complex magnetic highs and lows spanning over approximately 15km of interpreted Quesnellia Island Arc Terrane have been identified using magnetic inversion modeling and are considered by the Company to potentially be intrusive related features. Project wide soil sample geochemistry has outlined anomalous areas of copper associated with magnetic features that further enhances the potential that these features and may reflect the presence of porphyry-type intrusions at depth. An IP geophysical survey, which focused on coincident magnetic features with elevated copper in soils, was completed by the Company in 2023. Four of the seven targets tested show IP chargeability highs coincident with elevated copper geochemistry and interpreted intrusion related magnetic features.


Click Image To View Full Size

Figure 2: Map showing Peak airborne magnetics RTP-VD geophysics with completed pole – dipole IP lines.

The Company’s primary drill-ready target is at Peak Central, which represents an area of complex magnetic highs and lows associated with altered and mineralized porphyritic rocks. A 2011 IP survey at Peak Central outlined a large chargeability zone west of outcropping copper bearing porphyritic rocks, which has not been drill tested.


Click Image To View Full Size

Figure 3: Peak Central IP cross section line 1000N.

The Company has initiated a 1,000m to 2,000m drill program, largely to test geophysical features outlined in the 2011 IP program and interpreted by Red Canyon to potentially represent the central causative intrusion related to peripheral copper mineralization found in outcrops to the east. This program is fully funded and designed as an initial test program to be potentially followed by subsequent drilling in H2/24.

About Red Canyon Resources

Red Canyon Resources Ltd. (CSE: REDC | OTCQB: REDRF) is a geoscience-driven, discovery-focused mineral exploration company focused on exploring North America’s top copper jurisdictions. The Company’s core goal is to make impactful copper discoveries to benefit all stakeholders and support the clean energy transition. Red Canyon has a portfolio of 100% owned copper and copper-gold porphyry exploration projects. The Company’s technical team consists of experienced geoscientists with diverse capital market, small cap and major mining company backgrounds and a track record of success.

For more information, please visit the Company's website at www.redcanyonresources.com.

Red Canyon is part of the NewQuest Capital Group which is a discovery-driven investment group that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website at www.nqcapitalgroup.com.

On Behalf of the Board of Directors

Wendell Zerb, P. Geol

Chairman and Chief Executive Officer

[phone]

[e-mail]

For further information, please contact:

Brennan Zerb

Investor Relations Manager

[phone]

[e-mail]

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Qualified Person - The technical information contained in this update has been reviewed and approved by Wendell Zerb, P. Geol, a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Forward-Looking Statements:

This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, exploration activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans and the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, the ability of the Company to obtain the required permits, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated October 12, 2023 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.

[Lone Clone]

Coast Copper Exercises Empire Mine Property Option Early

https://www.newswire.ca/news-releases/coast-copper-exercises-empire-mine-property-option-early-866102005.html

Coast Copper Corp. May 28, 2024, 13:30 ET

TSX.V: COCO

VANCOUVER, BC, May 28, 2024 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) is pleased to announce that it has earned a 100% interest in certain mineral claims ("Greater Empire Claims") which form part of the Empire Mine property ("Empire Mine" or the "Property") by making the fifth and final payment, consisting of a cash payment of $250,000 and the issuance of 1,000,000 common shares of Coast Copper to Mirva Properties Ltd. ("Mirva") pursuant to an option agreement that was signed on September 22, 2020 ("Empire Option Agreement"). Empire Mine also consists of certain crown grants ("Quatsino Crown Grants").

Adam Travis, Coast Copper CEO comments: "We are very encouraged by the increased attention that high-grade, critical mineral projects in safe jurisdictions like British Columbia are starting to attract. Benson Lake Mine ticks a number of these boxes having been a high-grade copper producing project for Cominco until 1972. One historical record indicates that when Cominco shut the mine down in December 1972, Benson Lake Mine underground had another 3.154 million tonnes of remaining reserves¹ ². Our review of the information also indicates that Cominco believed the copper mineralization remained open along strike as evidenced by underground development to facilitate future exploration.

With our new geological model, we believe that the Empire Mine Property has the potential to become something much bigger and more important than previously recognized. We have therefore decided to accelerate our acquisition of the Greater Empire Claims and we look forward to demonstrating the scale of opportunity in due course."

The 17,104-hectare Empire Mine Property is located on resource friendly northern Vancouver Island and has good road access to the towns of Port Hardy, Port McNeill and Port Alice. Due to its low elevation and mild coastal climate, it can be worked on all year round. The geology of the Upper Trend was historically mined for magnetite (Merry Widow Mine) and the Lower Trend was historically mined for copper ("Cu") (Benson Lake Mine). In the 2000s, the potential for high-grade, open-pit gold ("Au") deposits was identified within the Upper Trend and gold showings were identified over multi-kilometer ("km") strike lengths. These include the Merry Widow ("MW") and Raven Bluff areas where Coast Copper drilled both high-grade and broader, medium-grade intercepts in 2022 (news releases January 25, and February 01, 2022). Highlights of these drill programs included:

MW21-007 returned 18.00 grams per tonne ("g/t") Au and 1.55% Cu over 3.23 meters ("m") from 23 m depth at MW;
MW21-015 returned 7.18 g/t Au and 3.17% Cu over 16.3 m from 98 m depth at Raven Bluff;
MW21-008 returned 1.63 g/t Au and 0.46% Cu over 42.77 m from 21 m depth at MW.

Further fieldwork and studies completed in 2022 and 2023 resulted in Coast Copper's publication of the first geological model for the Empire Mine identifying the Upper and Lower Trends as stacked, thrust horizons over approximately 5 km of trend that represent good hosts for Au-Cu-Magnetite mineralization. This new geological understanding directly contributed to Coast Copper's "B3" discovery in August 2023 (B3 rock sample results up to 51.60 g/t Au, 30.66 g/t tellurium, 0.25% cobalt and 50.52 g/t silver). B3 is located between the Upper and Lower Trends approximately 700 m from the MW pit.

In May 2023, Coast Copper published a high-grade, starter mineral resource estimate for MW which Coast Copper believes can be expanded with further drilling.

Also in 2023, Coast Copper began recompilation of the historical archive for the Lower Trend, which includes the former Cominco Ltd. ("Cominco") copper-producing Benson Lake Mine. Modern geophysical studies were conducted including Controlled Source Audio-frequency Magnetotellurics ("CSAMT") with the results published on January 23, 2024.

Summary of Empire Option Agreement Terms

To earn its 100% interest in the Greater Empire Claims, Coast Copper made aggregate cash payments of $1,250,000, issued 3,000,000 common shares of the Company to Mirva and completed work commitments on the Property totaling $2,000,000 over a four (4) year period. Mirva retains a 2% net smelter return ("NSR") royalty on the Property of which 1% may be purchased for $1,000,000 at any time up to 120 days after commencement of commercial production. The Empire Option Agreement was structured such that this NSR royalty plus all other NSR royalties which may currently be payable on the Property may not exceed in aggregate 2.5% before buydowns.

To earn a 100% interest in the Quatsino Crown Grants, Coast Copper must pay Mirva the equivalent of $500,000 with either a cash payment or equivalent value in common shares of the Company, at the Company's election, on or before September 22, 2025. The Company has the option to extend the Quatsino Crown Grants payment by one year for a payment of $535,000, two years for a payment of $590,000 and three years for a payment of $665,000.

Corporate Update

On January 26, 2023, at Coast Copper's Annual General and Special Meeting of Shareholders, the Company's shareholders approved the replacement of the Company's existing 10% rolling long-term incentive plan ("Legacy Plan") with a new 20% fixed long-term incentive plan ("LTIP") that included the same categories of awards as the Legacy Plan, being stock options, deferred share units, performance share units, restricted share units and stock appreciation rights. Awards under the LTIP are available to directors, key employees and consultants of Coast Copper, as determined by the Board of Directors. The aggregate number of listed common shares issuable increased from 5,529,669 under the Legacy Plan to 12,800,338 under the LTIP. For more information on the details of the LTIP, please refer to the Company's Management Information Circular, dated December 12, 2022 and filed on SEDAR+.

Qualified Persons

The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper's geological consultant and a Qualified Person ("QP") within the context of the Canadian Securities Administrators' National Instrument ("NI") 43-101; Standards of Disclosure for Mineral Projects.

About Coast Copper Corp.

Coast Copper's exploration focus is the Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold, and silver. Coast Copper's other properties include its 100% owned Sully property located in southeastern BC, Knob Hill NW property located on northern Vancouver Island, its Home Brew property in central BC, and its Scottie West property located in the "Golden Triangle" of northern BC. Coast Copper's management team continues to review precious and base metals opportunities in western North America.

On Behalf of the Board of Directors:

"Adam Travis"

Adam Travis, Chief Executive Officer and Director

Cautionary Notes

1. Historical information, maps or figures contained in this release regarding Coast Copper's Empire Mine Property or adjacent properties cannot be relied upon as the Company's QP, as defined under NI-43-101 has not prepared nor verified the historical information.

2. Cominco Resources, Drill Section Maps "Plan of Cominco's Benson Lake Operations on Empire Claims Showing Ore Reserves & Proposed Exploration Program", 1970, Private Files. While Coast Copper notes that Cominco's historical results are not NI 43-101 compliant and have not been verified by the Company's QP, these combined historical resources total nearly 3.154 million tonnes and will help guide Coast Copper's exploration programs. Benson Lake Mine historical reserves recorded by Cominco Resources (1972) report a non NI 43-101 resource of 454,000 tonnes grading 0.59 g/t Au and 1.3% Cu and an Inferred resource of 2.7 million tonnes of 1.7% Cu with no Au grade calculated.

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.

SOURCE Coast Copper Corp.

For further information: Adam Travis, CEO, Coast Copper Corp., 409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: adamt @ihub_tutorial

[Lone Clone]

North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia

https://ca.finance.yahoo.com/news/north-bay-resources-reports-assays-130000955.html

North Bay Resources Inc.
Wed, May 29, 2024 at 6:00 a.m. PDT·4 min read

NBRI
-16.67%

BISHOP, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI)

[Lone Clone]

Sable Stakes Additional Ground Along the Perk Rocky Regional Trend in BC, Canada

https://ca.finance.yahoo.com/news/sable-stakes-additional-ground-along-110000846.html

Sable Resources Ltd.
Wed, May 29, 2024 at 4:00 a.m. PDT·6 min read

SBLRF
+5.81%

VANCOUVER, British Columbia, May 29, 2024 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable" or the "Company") (TSXV:SAE | OTCQB:SBLRF) is pleased to announce that it has staked 4,806 hectares of prospective ground in two properties located NW and SE of the Perk Rocky Project in British Columbia.

Dr. Ruben Padilla, President and CEO of Sable stated, “Following the Company’s entering into the option agreement for the Perk Rocky Project, Sable is pursuing additional opportunities along this and other underexplored porphyry belts. The Copper Queen and Rusty Peak properties show favorable geology with historically known evidence of porphyry mineralization. The acquisition of this is prospective ground building a copper portfolio in British Columbia represents a perfect combination for our already solid pipeline of porphyry projects in Argentina.”



Location of new properties (Copper Queen and Rusty Peak) with respect to the recently optioned Perk Rocky Project.

Figure 1. Location of new properties (Copper Queen and Rusty Peak)
with respect to the recently optioned Perk Rocky Project.

Copper Queen Property

The Copper Queen property (2,864 ha) is located 25km NW of the Perk Rocky land package and was previously explored by Anaconda American Brass (“Anaconda”), Rinto Tinto Group (“Rio Tinto”) and Seaborne Minerals Inc. (“Seaborne”). No exploration activity has been undertaken on the property since 2011 and no mapping since the late 60’s.

Exploration work conducted by Anaconda American Brass (“Anaconda”) between 1968 and 1969 shows the existence of quartz feldspar porphyries and at least five mineralized diatreme breccias within a porphyry system of approximately 4.5 x 2km.

Only rock results available come from work in 1982 at the Breccia 1 including several samples >0.5% Cu up to 0.75% Cu associated with chalcopyrite and bornite mineralization.

Anaconda reported drilling 182m in two holes in 1969 and reported grades from 0.2 to 0.3% Cu in 6 to 25 metres intervals however they did not file detailed information about the drilling.

Rio Tinto drilled two holes totaling 119m on the southern margin of McClinchy Lake following a chargeability anomaly with Cu mineralization observed but insignificant results.

Minor sampling visits were conducted in 1982 and 1994, and a 900km VLF-EM and radiometric survey was conducted by Seaborne in 2011.





Figure 2.

Figure 2. Left - Location of mineralized Cu bearing breccias located within Sable’s property (red polygon). Right - Detail of available historical sampling on the Breccia 1 showing higher copper values associated to chalcopyrite and bornite mineralization.

Rusty Peak Property

The Rusty Peak property comprises a large colour anomaly located on the southern margin of a Cretaceous stock which intrudes Cretaceous volcanic rocks.

A porphyry occurrence “the K showing” is located on the SW margin of the stock and work conducted by Cities Service Minerals Corp. in 1973 revealed quartz monzonite and granodiorite dykes with sericite, biotite, and epidote alteration, as well as quartz-magnetite stockwork.

ASTER and Sentinel spectral work conducted in 2022 shows the existence of sericite, illite, alunite, kaolinite, and iron oxides within the color anomaly. This combination of alteration minerals suggests advanced argillic alteration transitioning to sericitic within a porphyry environment.





Figure 3.
Figure 3. A - Color anomaly at Rusty Peak; B - Geological map of the Rusty Peak area;
C - Sericite extension extracted from ASTER/Sentinel products from 2022;
D - Alunite extension extracted from ASTER/Sentinel products from 2022.

Sable plans on conducting basic field work at Copper Queen to properly map and sample the mineralized breccias and to define the entire porphyry system present there. At Rusty Peak, the Company plans to review the alteration zone to confirm the assemblages suggested by the ASTER and to look for additional porphyry evidence such as veinlets, dykes, breccias, and Cu mineralization out of the K showing.

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.

The Company notes that the historical information about the Copper Queen and Rusty Peak properties comes from filed assessment reports and the QP has not completed enough work to verify this historical information.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favourable, established mining jurisdictions. Sable's focus is developing its large portfolio of Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Los Pumas Projects in San Juan Province, Argentina and the Perk Rocky Project (10,475 ha) in British Columbia.

For further information, please contact:

Ruben Padilla, President & CEO at ruben.padilla @ranro

Related link: sableresources.com

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

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated 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 laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa31d69e-7709-4031-8043-62a6b7753a5f

https://www.globenewswire.com/NewsRoom/AttachmentNg/1e62cbf2-6f54-484c-85d9-b5137a327954

https://www.globenewswire.com/NewsRoom/AttachmentNg/d59c3026-080f-4359-937a-6058b0a9052f

[Lone Clone]

Golden Cariboo Resources Expands Field Program to Gold Ridge Claims in Eastern Block of Quesnelle Gold Quartz Project

https://thenewswire.com/press-releases/1Bz4FMYVj-corrected-golden-cariboo-resources-expands-field-program-to-gold-ridge-claims-in-eastern-block-of-quesnelle-gold-quartz-project.html

May 28, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A042CQ) (FSE:3TZ) is pleased to announce that the Company has expanded its field activities to the Gold Ridge claims in the Eastern portion of the Company’s Quesnelle Gold Quartz property (see enclosed figure below). Initial work will consist of geological mapping, prospecting and stream sediment sampling to advance the claims which have seen minimal historical work.

The geology of the Gold Ridge claims includes portions of the Snowshoe Group, which are the host group to Osisko Development Corp.’s Cariboo Gold project in Wells, British Columbia, and will be targeted for geochemical sampling in the active program. The Gold Ridge claims are bordered by Osisko Development’s claims to the North, South and West.


Click Image To View Full Size

Figure: Golden Cariboo Mineral Claims showing the Hixon Gold Claims and the Gold Ridge Claims

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.

Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s.

For further information please contact:

GOLDEN CARIBOO RESOURCES LTD

“J. Frank Callaghan”

J. Frank Callaghan, President & CEO

Tel: [phone]







VISIT OUR WEBSITE FOR MORE DETAILS

www.goldencariboo.com



LIKE AND FOLLOW

Instagram, Facebook, X (Twitter), LinkedIn

Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements:

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. 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. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.

The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

[Lone Clone]

American Eagle Gold Commences 2024 NAK Drill Program

https://www.newsfilecorp.com/release/210649

May 27, 2024 6:00 AM EDT | Source: American Eagle Gold Corp.

Toronto, Ontario--(Newsfile Corp. - May 27, 2024) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce that drilling has begun on 2024's 15,000-metre drill program at its NAK copper-gold porphyry property in central British Columbia, Canada.

The initial holes will test favourable geological and geophysical signatures, including resistivity and chargeability anomalies identified by a 2024 deep-looking induced polarization survey. The program is starting with a single diamond drill rig, with a second rig arriving within two weeks.

Areas of focus for 2024's drill program include:

Testing the zone northwest of NAK23-17, which returned 302 metres of 1.09% Copper Equivalent within 606 metres of 0.74% Copper Equivalent from 98 metres downhole;

Expanding the high-grade near surface gold zone proximal to NAK22-01, which returned 126 metres of 1.05% Copper Equivalent (1.01g/t Au, 0.29% Cu, 1.47g/t Ag) from surface;

Connecting the 2022 and 2023 areas of drilling eastward to the area of hole NAK23-09, which returned 117 metres of 0.40% Copper Equivalent from surface.

Drilling will continue into late 2024, and American Eagle has approximately $15,000,000 in its treasury, allowing it to expand the program based on results.

Click Here to View the 2024 Drill Plan at NAK

Click Here to View 2024 Drill Plan Webinar Hosted by Geologists Charlie Greig and Neil Prowse

Details of NAK's 2024 Drill Program:

The 2024 drill program will integrate the Company's evolving understanding of the relationship between the emplacement of multi-phase Eocene dikes and sills with reactive and permeable host rocks to form the extensive Nak mineralized system. American Eagle is developing models for geology, mineralization, alteration, and structure for the system, which will form the basis for its ongoing planning. The expanded 2024 drill program, currently planned for 15,000 metres, will aim to link, better define, and expand upon the historical North and South zones, which the Company showed in its 2022 and 2023 drill programs to extend to considerable depths (close to 950 m below surface) along a strike length of at least 750 m and across a minimum width of 400 m. Intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone (Link to NAK23-12 News Release) and 302 metres of 1.09% within 606 m of 0.74% Copper Equivalent starting from 98 metres downhole in the South Zone (Link to NAK23-17 News Release).

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed in 2022 and 2023 by American Eagle has returned significant intervals of high-grade copper-gold mineralization that lie beyond the extent of historical drilling, indicating that several zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.

For the latest videos from American Eagle, Ore Group, and all things mining, subscribe to our YouTube Chanel: youtube.com/@theoregroup

About American Eagle Gold Corp.

American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada.

Anthony Moreau, Chief Executive Officer

416.644.1567

[e-mail]

www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to complete the Offering as anticipated, the receipt of regulatory approval, including the approval of the TSX Venture Exchange, to complete the Offering, the intended use of proceeds and intended drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the qualifying expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.

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

SOURCE: American Eagle Gold Corp.

[Lone Clone]

Trailbreaker Resources Commences Surface Exploration at Castle Rock Property, Northern Vancouver Island, BC

https://ca.finance.yahoo.com/news/trailbreaker-resources-commences-surface-exploration-114500307.html

Trailbreaker Resources Ltd.
Mon, May 27, 2024 at 4:45 a.m. PDT·4 min read

APRAF
+4.02%

VANCOUVER, British Columbia, May 27, 2024 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the commencement of the 2024 surficial exploration program at our Castle Rock property on northern Vancouver Island, British Columbia (BC).

The program will consist of follow-up exploration on the results obtained during 2023 (see Figure 1 below, and November 27th, 2023 news release) as well as reconnaissance exploration on unexplored ground.



Figure 1:
Figure 1: Areas of focus for the 2024 exploration program. Soil geochemical anomalies and highlighted rock samples from the 2023 surface sampling program are overlain on geological and structural interpretations of the regional airborne magnetic survey. Sampling defined a 3 km gold-in-soil trend which includes the Heart, Watchtower, and Kokummi zones. The 2024 exploration program will follow up on results at the newly discovered Watchtower and Kokummi zones, the historic Flan zone, and will investigate unexplored ground along trend to the northwest.

During 2023, a 3 km gold-in-soil geochemical anomaly was defined along a magnetic lineament. This anomaly includes the Heart zone (historic chip sample of 2.0 g/t Au [gold] over 30 metres1) as well as the newly discovered Kokummi and Watchtower zones. Interpretation of airborne magnetic data indicates that mineralization is associated with northwest-trending structures splaying off from the Kokummi granodioritic stock in the southwest property area. This interpretation suggests that much of the property with mineral potential has not yet been explored.

The 2024 exploration program will consist of approximately 400 soil geochemical samples combined with prospecting of the Watchtower and Kokummi zones, in an effort to expand and define the geochemical signature.

Reconnaissance exploration will also be conducted on unexplored ground along trend to the northwest, as well as on the Flan zone. The Flan zone includes a historic showing that has returned assays of up to 135 g/t Au in boulders2. Exploration in 2023 confirmed high-grade gold mineralization, with assays up to 42.1 g/t Au and 1.93% Cu (copper). As well, basalt-hosted semi-massive pyrite-chalcopyrite-pyrrhotite mineralization sampled in outcrop returned assays up to 3.1 g/t Au. It is believed that this outcrop-hosted mineralization is associated with the float samples, and that higher-grade material is likely not exposed due to vegetation and/or till cover.

Message from the President

“The Castle Rock property represents an exciting opportunity for new mineral discoveries in an area with little historic exploration. We are eager to follow-up on the 2023 results and to continue advancing the project. There’s a lot of unexplored ground here with high potential for new discoveries.”

– Daithi Mac Gearailt

About the Castle Rock property

The Castle Rock property covers 3,108 hectares of land on northern Vancouver Island, approximately 70 km northwest of Campbell River, BC. It was acquired by Trailbreaker in 2022 and consolidated through an option agreement (see August 8, 2023 news release). Trailbreaker conducted initial exploration assessment work in 2022 and followed up with a second surface exploration program in 2023.

The claims cover five BC Minfile occurrences located along a district-scale structure that is >5 km-long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences represent relatively new discoveries, mostly due to access created by recent logging activity.

Northern Vancouver Island is host to several large Cu-Au porphyry deposits including Northisle Copper and Gold’s Hushamu deposit (Inferred resource of 5.57 Moz AuEq)3, and BHP Billiton’s past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 3.

At the Castle Rock property, gold is dominantly hosted by Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.

About Trailbreaker Resources

Trailbreaker Resources is a project generator focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. We are committed to continuous exploration and research, allowing us to maintain a portfolio of quality mineral properties which in turn provides value for our shareholders. The company has an experienced management team with a proven track record as project generators and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.

ON BEHALF OF THE BOARD

Daithi Mac Gearailt
President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.

Other

For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at [phone] or at [e-mail].

References
1) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
3) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf

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.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking 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. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c58b6f3e-488f-4cfc-bd7d-30529e4867ba

[Lone Clone]

Sego Resources Engages SRK Consulting for 3D Model and Mineral Inventory at the Southern Gold Zone

https://www.newsfilecorp.com/release/210258

May 23, 2024 2:30 PM EDT | Source: Sego Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2024) - Sego Resources Inc., (TSXV: SGZ)

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Northisle Commences 2024 Phase I Exploration Program; 2023 Drill Results Confirm Thesis at Pemberton Hills

https://ca.finance.yahoo.com/news/northisle-commences-2024-phase-exploration-105700056.html

Business Wire
Thu, May 23, 2024 at 3:57 a.m. PDT·17 min read

NTCPF
-1.54%



Figure 1: Aerial View Looking East at West Goodspeed and Goodspeed targets (Photo: Business Wire)




Figure 8: Hushamu Feldspar Porphyry Quartz Stockwork Zone (Photo: Business Wire)



Figure 9: Section 580700 East Showing New Porphyry Source Target Area (Graphic: Business Wire)



Figure 7: Pemberton Hills Target Areas (Graphic: Business Wire)



Figure 6: Pemberton Hills Geology and Alteration (Graphic: Business Wire)



Figure 5: Porphyry Model Including Interpreted Location of Pemberton Hills Drilling (after Sillitoe) (Graphic: Business Wire)



Figure 4: Northwest Expo Block Model showing Inferred Resources > 0.4g/t Au Eq and Target for Potential Porphyry Mineralization at Depth (Graphic: Business Wire)



Figure 3: Section showing 2024 Drill targets with 2023 Discovery Drilling (Graphic: Business Wire)



Figure 2: 2024 Exploration Targets at West Goodspeed (Graphic: Business Wire)
Highlights:

Northisle 2024 Phase 1 drill program commencing

Extend near-surface drilling discovery at West Goodspeed through systematic step-out drilling into large, near-surface magnetic anomaly

Identify causative intrusion at Northwest Expo through targeted step-outs and high leverage infill holes which will also test potential for mineralized porphyry source at depth

In-fill Northwest Expo resource to upgrade to >90% Indicated Resources within resource estimate shell

Pemberton Hills 2023 drill results confirm overall thesis and demonstrate progress towards porphyry source of 6 kilometre (km) long by 1.5km thick lithocap

Surface mapping and additional geophysics to continue on high priority targets throughout the property

VANCOUVER, British Columbia, May 23, 2024--(BUSINESS WIRE)--Northisle Copper and Gold Inc. (TSX-V: NCX) ("Northisle" or the "Company") is pleased to announce that it has commenced its 2024 Phase I exploration program at the North Island Project. The 2024 Phase I exploration program will consist of approximately 10,000 metres (m) of drilling and is designed to systematically vector towards the core of several identified porphyry systems trending across Goodspeed and Northwest Expo. Surface mapping and additional geophysics will continue on high priority targets throughout Northisle’s district-scale North Island Project. In addition, the Company has released its Pemberton Hills 2023 drill results which confirms the overall exploration thesis and demonstrates progress towards the porphyry system’s potassic layer.

Sam Lee, President & CEO of Northisle stated "We are pleased to release the final results of our highly successful 2023 exploration program and announce that we’re immediately initiating our 2024 Phase I program. The 2023 exploration program produced our strongest results in Company history and the 2024 program seeks to do the same. Our 2024 program will also be bold in testing multiple porphyry systems at depth to potentially locate the source of the high-grade gold and copper mineralization reported in 2023."

A drill is currently being staged to the West Goodspeed target, with a second drill rig to be added to support helicopter-assisted drilling at Northwest Expo within the coming weeks.

Key Catalysts

In 2024, the Company will continue advancing the North Island Project, with development and exploration catalysts throughout the year leading to measurable impacts for shareholders, including the following:

COMPLETED - Geophysics results from Northwest Expo and West Goodspeed

COMPLETED - Final 2023 Pemberton Hills Drill Results

COMPLETED - Commencement of 2024 drilling program

Q2 2024 - Preliminary Project Trade-offs

Late Q2/Early Q3 2024 - Initial Exploration Results from 2024 Phase 1 drilling program

Q3 2024 - Commencement of advanced economic and technical studies

H2 2024 – Full Results from 2024 Phase 1 drilling program

Ongoing - Continued positive engagement with indigenous rightsholders and local stakeholders

Upcoming Investor Events

During 2024, the Company will continue to be active in investor outreach. Northisle will be attending several external investor events including the following events during Q2/Q3 2024:

Summer 2024: Broker and Institutional Site Visits

September 10 – 13, 2024: Precious Metals Summit, Beaver Creek, CO

September 15 – 18, 2024: Gold Forum Americas, Colorado Springs, CO

November 20 – 21, 2024: Swiss Mining Institute, Zurich, Switzerland

West Goodspeed Exploration

Drilling in 2024 will commence with the West Goodspeed target, the discovery of which was announced by Northisle in December 2023 (see December 6, 2023 press release). The West Goodspeed target was identified through a combination of a ground geophysical survey and a review of historical exploration activity including recent surface alteration mapping, examining 2017 drill logs adjacent to Red Dog and historical assessment reports.

Mineralization in GS23-04 and GS23-05, which starts immediately below 6 metres of overburden and includes 125m grading 0.49% copper equivalent (Cu Eq) in GS23-05 and 78m grading 0.48% Cu Eq. in GS23-04 is associated with quartz-sericite-pyrite (QSP) alteration which suggest the drill holes are proximal to the potential causative intrusion for this porphyry system. The initial follow-up drill program will systematically seek to vector towards the source intrusion with the goal of intercepting the potentially higher grade potassic zone commonly found in similar porphyry systems. At the previously producing Island Copper mine the potassic alteration consisted of biotite-magnetite. GS23-04 and GS23-05 are peripheral to and north of a large northerly trending magnetic anomaly which will be further explored by drilling. GS23-05 ended in mineralization proximal to this anomaly as shown in Figure 3.

The 2024 program at West Goodspeed will include approximately 3,600m of drilling in at least 7 step-out holes to the south and east of the two West Goodspeed discovery drill holes. Additional holes are proposed for a magnetic anomaly southeast of the original Goodspeed surface exposure of stockwork quartz-magnetite veinlets hosting chalcopyrite and bornite.

Figure 1 shows the proposed locations of the 2024 Phase 1 drill holes in the Goodspeed area.

Figure 2 shows 2024 drill targets in the Goodspeed area in the context of integrated 2021 and 2023 geophysical surveys.

Figure 3 shows a section including the 2023 discovery drill holes at West Goodspeed as well as the newly identified deep magnetic target which was not penetrated by 2023 drilling.

Northwest Expo Exploration

After drilling at Goodspeed concludes, Northisle will be systematically testing several targets at Northwest Expo for the source of the gold-enriched mineralization contained in the recently announced Northwest Expo Mineral Resource Estimate ("MRE"). In addition, the 2024 exploration program includes several in-fill holes designed to convert a significant portion of the inferred resource within the higher-grade southwest portion of the deposit, while also testing the potential for a porphyry source at depth, highlighted by an intercept in NW23-13 which included 130m grading 2.13 grams per tonne (g/t) gold equivalent (Au Eq). (see September 27, 2023 press release).

Within the deposit footprint, the Company has planned approximately 3,600m of drilling in 8 drill holes.

Three of the drill holes at the south of the resource shell are planned to test for the potential source of the higher-grade mineralization that was observed during 2023 drilling in stockwork covellite, chalcocite, and bornite veinlets in porphyry xenoliths, within a hydrothermal breccia encountered in drill hole NW23-13. This breccia was observed from 320m to 338m and graded 3.5g/t gold (Au) and 1.0% copper over 18 m. In addition, a review of Northisle drill core and from programs carried out by previous operators identified drill core which includes stockworked A and B style quartz veining at depth in drill hole EC-233 200m northwest of NW23-13. The mineralized material contains fluorine bearing topaz, which in upper parts of porphyry systems occurs above the hydrothermal up-flow zone, higher temperature, low pH clays including pyrophyllite and dickite which also occur in adjacent drill holes and suggest proximity to the potassic zone below this area, which is typical of porphyry systems.

Figure 4 shows the proposed location of drill holes within the Northwest Expo deposit as well as the location of identified porphyry-style veining relative to the existing resource model and the target area for potential causative intrusions at depth.

In addition, step-out drilling is planned, subject to receipt of all relevant approvals, to test several additional potential porphyry occurrences in the area between Northwest Expo and Goodspeed which is part of the larger trend on the northwest end of the North Island Project.

Pemberton Hills Results and Exploration

2023 drilling at Pemberton Hills was successful in confirming the overall exploration thesis regarding the southwest tilt of the 6.5 km long by 1.4km thick lithocap, and the orientation of the very large hydrothermal system at Pemberton Hills extending to the northeast of this. The underlying system is evidenced by a 1.5km wide by 2.5km long QSP alteration zone at surface. QSP alteration usually occurs peripherally to potassic alteration hosting copper mineralization. Drill holes PH23-12 and PH23-13 confirmed the extent and orientation of this hydrothermal system as shown in Figure 5 and shows where the drill holes are interpreted to have intersected the porphyry system.

Drill hole PH23-12 was drilled proximal to the lithocap and was oriented to pierce magnetic and induced polarization (IP) anomalies adjacent to a QSP altered quartz-diorite. The hole showed significant QSP alteration and minor chalcopyrite bearing quartz stockwork veining, which indicates progression towards the source of the system but did not contain economically significant mineralization. PH23-13 was drilled further from the lithocap to the northeast and targeted in the direction of a large magnetic anomaly. The drill hole intercepted QSP alteration which again indicates proximity to potassic alteration. Examining the drill results in association with magnetic survey data and historic surface sampling, which included copper and gold values within at least 200m long narrow quartz veins, the current interpretation is that the possible source occurs south of the 2023 drill holes and north of the historic surface samples. This interpretation is shown in Figure 6 in the context of surface geology and alteration.

The 2024 surface exploration at Pemberton Hills will include a detailed surface mapping program targeted at obtaining additional structural information, sericite speciation, chlorite proximitor analysis, quartz and gypsum vein density mapping and rock geochemistry information which will aid in future drill targeting. Figure 7 shows the target areas in the context of previous drilling and surface magnetics.

Hushamu Exploration

At Hushamu, the Company has reviewed drill core, logging, and surface exploration over the last several years, as well as results of drilling from other targets on the property. There are now multiple indicators that the Hushamu deposit, like Northwest Expo, is lithocap hosted. In addition, the orientation of the overall porphyry system has been reinterpreted which indicates that the causative intrusion may be to the south of the Hushamu resource, rather than to the north. Evidence for this reinterpretation includes:

the presence of zunyite, a fluorine bearing mineral like topaz occurring in the upflow zone of porphyry deposits

the discovery in a recent bulldozed area of sheeted and stockwork quartz veining over 600m, plus leached stockwork quartz veining with residual jarosite, goethite and hematite grading 0.1% to 0.5% copper on the south side of the Hushamu deposit; and

the observation of gusano texture, which commonly occurs in lithocaps above hydrothermal upflow zones of porphyry deposits in adjacent drill holes to the north

Northisle will be conducting a mapping program similar to that at Pemberton Hills, which will obtain additional structural and vectoring information in order to support drilling in this new target area. Figure 8 shows the planned target area for this mapping program as well as an example of a leached quartz stockwork boulder.

Figure 9 shows a cross-section of the Hushamu deposit with the new interpreted potential porphyry source target.

Additional Technical Details

Logging, Sampling and Assaying Procedures and QA/QC

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control (QA/QC) program using industry best practices. Drill intersections in this release are typically HQ to 100 m and NQ thereafter to the end of holes. After drilling, core was logged for geology, structure, and geotechnical characteristics utilizing Geospark© core logging software, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples 3 m or less in length. Drill core was cut lengthwise in half with a core saw. Half-core was sent for assays reported in this news release. Prior to cutting core for assay bulk density was also determined on site by taking 15 to 20 centimetres (cm) lengths of whole core of each lithology at 10 m intervals. The ends of these were then cut at right angle to the core axis, retaining all pieces to be returned to the core box for later sample cutting and analysis. The diameter of each core sampled for bulk density was measured at each end with digital calipers to 3 decimal places and recorded. The length of the core was measured on four sides at 90 degrees to each other, to 2 decimal places and recorded. The software averaged the lengths and diameters. The mass of the dry core was measured twice on an Ohaus© balance to 2 decimal places. If no discrepancy occurred the measurement was recorded. If there was a discrepancy the measuring was repeated until no discrepancy between 2 measurements occurred. The density was calculated using the formula Bulk Density = p times r² times h (where r is radius of core and h is length of core). Certified standard masses are used to calibrate the scale balance used for bulk density determinations. The balance in the core logging area was levelled on a large concrete block to avoid vibration, was leveled, and surrounded by a wooden partition to avoid wind affecting the balance. The measurements were recorded in Geospark© logging software and Bulk Density calculated to 2 decimal places.

A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards were obtained from WCM Minerals, Vancouver, CDN Minerals, Langley and OREAS, Canada. Blanks were obtained from unmineralized course bagged limestone landscaping rock. Standards and blanks in 2023 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the MSALABS in Langley, BC where the samples were dried, then crushed, split and a 250 gram (g) split was pulverized to 85% passing -200 mesh (-75 micrometres (µm)) size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed for gold by fire assay fusion of 50 g of the 250 g split. Total gold content was determined by digesting the silver doré bead from the fusion and then analysing by AA (MSA Code FAS-121). All samples were also analyzed for multiple elements by taking a 0.25 g of the 250g split which was heated in HNO3, HClO4 and HF to fuming and taken to dryness. The residue was dissolved in HCl and then analyzed utilizing ICP-MS (MSA Code IMS-230). Any sulphur analysis from this latter analysis with a value greater than 10% was reanalyzed utilizing a Leco sulfur analyzer. Iron and Tungsten accelerators are added to the sample and a stream of oxygen is passed over the sample in the induction furnace. As the sample is heated, sulfur dioxide released from the sample is measured by an IR detection system and the Total Sulphur content is determined. (MSA Code SPM-210). MSALABS (Langley) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Pulps and rejects of holes with significant assay intervals are stored at Western Mineral Storage. The remaining split core is indexed and stored at Northisle logging and office facility in Port Hardy, BC.

Drill Results in this news release are length weighted averages.

Qualified Persons and Data Verification

Robin Tolbert, P.Geo., Vice President Exploration of Northisle, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this news release.

About Northisle

Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada’s leading sustainable mineral resource company for the future. Northisle, through its 100% owned subsidiary North Island Mining Corp., owns the North Island Project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on continued advancement of the project while exploring within this highly prospective land package.

For more information on Northisle please visit the Company’s website at www.northisle.ca.

Cautionary Note Concerning Inferred Resources

Unless otherwise indicated, all technical information included in this news release, including references to inferred mineral resources, has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) classification system. The inferred mineral resources referred to in this news release are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is a risk that such inferred mineral resources may not be converted into measured or indicated mineral resources. While it is assumed that with continued exploration, most of the inferred mineral resources could be upgraded to an indicated resource category, due to the uncertainty that may attach to inferred mineral resources, there is no assurance that inferred mineral resources will be upgraded to resources with sufficient geological continuity to constitute proven and probable mineral reserves as a result of continued exploration.

Cautionary Note Regarding Adjacent and Historical Property Disclosure

This news release contains information regarding adjacent and historical properties and deposits. Investors are cautioned that adjacent mineral deposits or systems, or past-performance of historical mines, do not necessarily indicate and certainly do not prove the existence, nature or extent of mineral deposits on the North Island Project.

Cautionary Statements regarding Forward-Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the MRE; plans and expectations regarding the 2024 exploration program; plans and expectations regarding future project development; timing of key catalysts; planned activities, including further drilling, at the North Island Project; the Company’s anticipated exploration activities; and the Company’s plans for advancement of the North Island Project. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any 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 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 news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240523114719/en/

Contacts

On behalf of Northisle Copper and Gold Inc.

Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: [phone]
Email: [e-mail]
www.northisle.ca

[Lone Clone]

STAMPER PROVIDES REDONDA EXPLORATION SYNOPSIS

https://www.newsfilecorp.com/release/210192

May 23, 2024 6:04 AM EDT | Source: Stamper Oil & Gas Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2024) - Stamper Oil & Gas Corp. (TSXV: STMP) (FSE: TMP2)

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GSP Resource Advances Geological Modelling of Alwin Mine Copper-Silver-Gold Project in Preparation for 2024 Expansion Drilling

https://thenewswire.com/press-releases/1k98FaGg2-gsp-resource-advances-geological-modelling-of-alwin-mine-copper-silver-gold-project-in-preparation-for-2024-expansion-drilling.html

News Release - Vancouver, British Columbia – TheNewswire - May 22, 2024: GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD) (the “Company” or “GSP”) provides an update related to ongoing advancement of the Alwin Mine Copper-Silver-Gold Project (the “Alwin Property”). New modelling has, for the first-time, enabled 3D visualization of the shear vein system that hosts high-grade copper at Alwin and represents a significant leap in the Company’s ability to drive expansion and discover new zones of high-grade copper mineralization.

The APEX Geoscience Ltd. (“APEX”) resource modelling team has made significant progress in the geologic model development for the Alwin Project. To date, APEX has georeferenced in 3D space a total of 70 historic underground level plans and cross sections, digitally captured this data comprising detailed underground mapping completed during mining operations between 1968 and 1979. The modelling program has yielded over 18,000 mineralized polygons, 1,200 fault traces, and 300 structural strike and dip measurements (see Figure 1).

Anticipated workflow is progressing rapidly as follows:

• 3D georeferencing of historical geological plans and sections (COMPLETE)

• Digitization of mineralized polygons, fault traces and point structure (COMPLETE)

• Implicit 3D modelling of shear vein lodes, and fault planes (IN PROGRESS)

• Validation of 3D underground development and mined stope volumes (IN PROGRESS)

• Handoff of finalized geological, mineralization, and mine depletion models to APEX geostatistical and resource estimation team (PLANNED)

• Exploration block modelling, conceptual pit shell and stope optimization (PLANNED)

The APEX team has now progressed to the domaining phase of the 3D modelling exercise, by assigning individual mineralized lode codes to the underground mapping strings and mineralized drill intercepts leading to the development of a series of structurally informed implicit modelled wireframes. Refinement of the implicit model is currently underway, in parallel with analogous development of associated fault planes, and the development of a mined stope and development depletion model.

GSP reports that historic digital data capture and geological modelling completed to date has for the first-time enabled 3D visualization of a well-developed en-echelon shear vein system host to high-grade copper Alwin Mine. The current interpretation indicates the presence of a subvertical East-West trending parent shear zone, within which steeply south dipping tension veins have developed. The intersection of these features has produced steeply southeast plunging continuity of mineralization.

The APEX team is continuing to refine its interpretation of the geologic and structural model for the Alwin Mine, however the information currently available points to the prevalence of predictable shear-hosted vein geometries, which are expected to be readily targetable using structural geological principles. This information represents a significant leap in the Company’s ability to develop high-conviction drill targets with meaningful potential to drive expansion and discover new zones of high-grade copper mineralization.

This work will build on the recent drilling campaign executed by GSP in late 2023 which returned significant high-grade mineralization including drillhole AM23-01 intersected 2.42% copper (Cu), 47 g/t silver (Ag), and 0.57 g/t gold (Au) over 12.8 m (3.14% copper-equivalent, CuEq); including 5.7 m averaging 5.21% Cu, 103 g/t Ag and 1.22 g/t Au (6.77% CuEq) (see GSP Resource Corp. news release dated February 20, 2024).

Figure 1: Updated Alwin Mine Shear System Model Showing Historic Underground Mapping, Faults, and Diamond Drilling Copper Assays >1.5%


Click Image To View Full Size

Simon Dyakowski, President & CEO of GSP, commented:

“With the Copper price recently achieving all-time highs above US$5/pound, GSP is rapidly advancing geologic and structural modelling of decades of historic exploration data related to a compelling and underexplored brownfield high-grade Copper project. This important work underway prepares the project for resource modelling and expansion drilling to build on GSP’s recent drilling in the shallow high-grade copper-silver gold system.”

About the Alwin Mine Project

The Alwin Mie Copper-Silver-Gold property is approximately 575.72 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The historic underground mine was developed over 500 m long by 200 m wide by 300 m deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totaling 233,100 tonnes that milled 3,786 tonnes of copper, 2,729 kilograms of silver and 46.2 kilograms of gold. The average diluted head grade was 1.5% copper.

The Alwin Property is adjacent with the western boundary of Teck Corporation’s Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extends westward from the Highland Valley mine onto the Alwin property (see GSP’s news release dated January 30, 2020).

Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a consultant to the Company and a “qualified person” as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin property.

About GSP Resource Corp.

GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division, as well as an option to acquire 100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.

For more information, please contact:

Simon Dyakowski, Chief Executive Officer & Director

Tel: [phone]

Email: [e-mail]

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.

Forward-Looking Information

This news release contains “forward-looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work, develop new drill targets at the Alwin Property, carrying out future exploration work on the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

[Lone Clone]

Imperial Drilling Intersects 257.5 Metres Grading 0.71% Copper and 0.39 g/t Gold at Mount Polley

https://ca.finance.yahoo.com/news/imperial-drilling-intersects-257-5-001600701.html

Imperial Metals Corporation
Tue, May 21, 2024 at 5:16 p.m. PDT·6 min read

III.TO
-2.27%

IPMLF
0.00%

VANCOUVER, British Columbia, May 21, 2024 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III

[Lone Clone]

PROSPECT RIDGE RESOURCES DISCOVER NEW A HIGH-GRADE SHOWINGS ON THE HOLY GRAIL PROPERTY WEST OF THE COPPER RIDGE ZONE

https://www.prnewswire.com/news-releases/prospect-ridge-resources-discover-new-a-high-grade-showings-on-the-holy-grail-property-west-of-the-copper-ridge-zone-302152331.html

Prospect Ridge Resources Corp. May 22, 2024, 06:15 ET

VANCOUVER, BC, May 22, 2024 /PRNewswire/ - Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) i

[Lone Clone]

Bathurst Metals Discovers High_Grade Gold in First Drill Program at the Peerless Gold Project

https://thenewswire.com/press-releases/1kx7FRO1x-bathurst-metals-discovers-high-grade-gold-in-first-drill-program-at-the-peerless-gold-project.html

Vancouver, B.C. - TheNewswire - May 22, 2024 – Bathurst Metals Corp. (“Bathurst” or the “Company”) (BMV:TSX-V)

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Flow Metals Announces Induced Polarization Survey at New Brenda Porphyry Copper Target

May 21, 2024 8:59 AM EDT | Source: Flow Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") announces the initiation of a minimum 8km induced polarization ("IP") survey at its 100% owned New Brenda copper- silver - molybdenum project located in south-central British Columbia within the Quesnel Terrane.

Highlights include:

Planned Induced Polarization survey over the XP target
2 IP lines totaling a minimum of 8 Kilometres
First test for the 1100m X 1800m Cu-Ag-Mo anomaly at depth



Figure 1: Planned IP survey lines over Magnetic and geochemical anomalies

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7235/209824_c1a9f292f4a1781a_001full.jpg

Scott Sheldon, CEO of Flow Metals, commented: "The upcoming program aims to test the coincident geophysical and geochemical anomalies at XP. The IP survey will give the company the first look under the ground at the XP target. New Brenda is located in the Quesnel Terrane, 10 kilometres west of the Brenda mine in the heart of British Columbia's porphyry district."

The XP target represents a porphyry style geochemical and magnetic anomaly. XP is hosted in the Pennask batholith, also host to the neighboring Brenda mine to the east. Coincident geophysical magnetic low and overlapping geochemical anomalies (copper-molybdenum and silver-bismuth) helped define the target in 2023.

Survey details:
The in-house IP survey will be conducted with a team of 5 experienced crew members. The pole-dipole survey will have 50-meter stations and n-spacing of 8. The approximate maximum depth of penetration is 200-250m deep. The Company is expecting the survey take 10 days starting on the 21st of May and to cost under $50,000 all included. The Company is fully funded for the exploration program.

XP Target History
In 2018, a 10m wide outcrop with chalcopyrite mineralization was discovered and a grab sample was taken. The sample contained 0.67% Cu and 46.11 ppm Ag and elevated trace elements such as Bi, Te and U. The sample had pervasive potassic alteration in the form of biotite replacing hornblende. Note that rock grab samples are selective samples by nature and, as such, are not necessarily representative of the mineralization hosted across the property. An airborne magnetic survey was later conducted in 2021 that revealed a large ring-shaped magnetic low anomaly directly underneath the rock sample. A follow up geochemical soil survey was conducted in 2023 which highlighted a polymetallic, Cu, Mo, Ag, Bi anomaly coincident with the interpreted magnetite destruction zone. (see news dated July 24, 2023, November 22, 2022 and January 17, 2022 for further details as posted on the Company's website and SEDAR+)

Qualified Person
Robert Cameron, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.

About Flow Metals
Flow Metals is a mining exploration company focused on advancing two 100% owned road access projects in established mining districts. New Brenda is a copper-silver-molybdenum porphyry project in British Columbia's Quesnel terrane and Sixtymile is a Yukon gold project in the Sixtymile placer district.

For further information, please contact:

Scott Sheldon, President
604.725.1857
[e-mail]

Forward-Looking Information

This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties, future production, reserve potential, and events or developments that the Company expects. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance, they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether because of new information, future events or results, or otherwise) other than as required by applicable securities laws. There are several risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at SedarPlus.ca.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.

SOURCE: Flow Metals Corp.

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Goldstorm Metals Prepares for Upcoming 2024 Exploration Program at Electrum and Crown Properties, Located in Golden Triangle Region of British Columbia

https://www.newsfilecorp.com/release/209913

May 21, 2024 6:00 AM EDT | Source: Goldstorm Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Goldstorm Metals Corp. (TSXV: GSTM) (FSE: B2U) (OTC Pink: GSTMF)

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North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample

https://ca.finance.yahoo.com/news/north-bay-resources-announces-50-130000445.html

North Bay Resources Inc.
Tue, May 21, 2024 at 6:00 a.m. PDT·6 min read

NBRI
-33.33%

BISHOP, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI

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Dolly Varden Silver Commences 2024 Drilling Program with Discovery-Focused Exploration Targets

https://www.newsfilecorp.com/release/209883

May 21, 2024 8:00 AM EDT | Source: Dolly Varden Silver Corporation

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (FSE: DVQ1) (the "Company" or "Dolly Varden") is pleased to announce that the 2024 Exploration Drill Program has started at its 100% owned Kitsault Valley Project. Three drill rigs have been mobilized and are testing exploration targets at Moose Vein, Chance Vein and the North Star Deposit step out. Objectives of the initial targets include testing for new discoveries and following up from high-grade silver mineralization encountered in the 2023 drilling program.

Drill meterage in the 2024 drill program will be split approximately evenly between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of one third each to the Homestake Silver deposit, to the Wolf deposit area and to project wide exploration targets with discovery potential.

"With drilling already underway, our 25,000 meter program is the earliest startup for of any season for Dolly Varden Silver and we look forward to building on resource expansion and high-grade mineralization discovered during the 2023 program. We are excited to continue to grow the premier advanced silver project in Canada, backed by our strong corporate, institutional and strategic investors," said Shawn Khunkhun, CEO of Dolly Varden Silver.



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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/209883_e67e232fa40aeb27_002full.jpg



Figure 2. Dolly Varden Silver's Kitsault Valley Project and Big Bulk Project with location of deposits (blue) and exploration targets with new-discovery potential (white).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/209883_e67e232fa40aeb27_003full.jpg

Moose Vein**

The Moose Vein is situated 1.5 kilometers north of the Wolf vein on a similar crosscutting structure that projects under the mid valley sedimentary cap. Drilling in 2023 intersected mineralized vein and vein breccias similar to the Wolf vein, with previously reported results from drill hole DV23-371 of 712 g/t Ag over 1.00 meter within a wider vein interval grading 269 g/t Ag over 7.55 meters (from previous release; November 6, 2023). The 2024 drilling at Moose will target the down plunge mineralization projection, trending towards and below the mid-valley sedimentary cover rock. This target is a newly interpreted plunge orientation of the wide and high silver grade seen at similar cross-cutting veins located further south of the Moose Vein, such as Wolf and Kitsol.

Chance Vein**

The Chance Vein is located within the lower portion of the Hazelton Formation, just above the contact with the underlying Stuhini Formation (the contact known as "The Red Line" of the Golden Triangle). Drilling has commenced on a recently developed model of the plunge direction that is interpreted to trend through an area that has not been previously tested. The first hole at the Chance Vein will test the interpreted down plunge projection of previously released drill hole DV19-173, that intersected 488 g/t Ag over 26.50 meters including 1,044 g/t Ag over 5.60 meters (from previous release; August 7, 2019).



Figure 3. Drilling has started early at Dolly Varden Silver's Kitsault Valley Project due to low snow accumulation; pictured is one of three drills located at the North Star deposit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/209883_e67e232fa40aeb27_004full.jpg

North Star Deposit Step Out**

The third drill has commenced step-out drilling to the west of the North Star deposit, which is included in the current mineral resource estimate and is interpreted as the western extension of the Torbrit Exhalative Layer (the Torbrit Horizon). It is located across the Kitsault Valley from the Torbrit deposit which hosts the largest silver resource on the Dolly Varden portion of the Project. Drilling in 2023 tested down-dip and stepped out to the west along the projection of the Torbrit Horizon towards an area with the potential to host a continuation of the horizon. Follow-up drilling will target the extension of previously released drill hole DV23-358 from North Star that intersected 345 g/t Ag over 7.45m and included 1,510 g/t Ag over 0.58 meters (from previous release; February 12, 2024).

**All intervals shown are core length. Estimated true widths vary depending on intersection angles and range from 65% to 90% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.

Quality Assurance and Quality Control

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

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

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

Qualified Person

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

About Dolly Varden Silver Corporation

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

Forward Looking Statements

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

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

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

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

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

SOURCE: Dolly Varden Silver Corporation

[Lone Clone]

Brixton Metals Commences its Fully Funded 2024 Drill Season at its Thorn Copper-Gold Porphyry Project

https://ca.finance.yahoo.com/news/brixton-metals-commences-fully-funded-113000469.html

Brixton Metals Corporation
Tue, May 21, 2024 at 4:30 a.m. PDT·9 min read

BBBXF
-3.22%

Three New Copper Targets to Be Drill Tested

Figure 1



Thorn Project, Copper Geochem and 2024 Target Areas
Figure 3



Hole THN23-277 Photo of Mineralized Core
Figure 2



Drill Target, Previous Collar Locations and Copper Gold Geochem

VANCOUVER, British Columbia, May 21, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that its Thorn exploration camp is now open for the season and drilling has commenced. Brixton is fully funded for the 2024 exploration program with plans to drill test several new copper porphyry targets, including the Trifecta, Cirque, and North Copper Targets, in addition to further drilling at the Camp Creek Porphyry Target. The Thorn Project is situated within the traditional territory of the Tahltan and Taku River Tlingit First Nations.

2024 Thorn Exploration Plan Highlights:

The 2024 exploration plan consists of 12,000-17,000 meters of drilling across several target areas, collecting 2500 rock and soil samples, as well as a ~90 sq km ground MT Geophysics survey.

Drilling has begun at the Camp Creek Copper Porphyry Target to test for a high-grade copper core to the Camp Creek porphyry. This first hole THN24-286 is being drilled from the same pad as the 2023 hole, THN23-277, where copper abundance as chalcopyrite and quartz vein density are increasing downhole. The bottom 84 meters of hole 277 (957-1041m) returned 0.25% Copper, 0.09 g/t Gold, 3.78 g/t Silver and 142 g/t molybdenum, including 2m of 0.66% copper, 0.24 g/t gold, 12.0 g/t silver from 1032.88m. Hole 277 did not reach its target depth due to poor ground conditions.

The second Camp Creek hole is planned as a northwest step out from holes 184 and 201. Hole 184 ended at 1198m in strong copper mineralization with the bottom of the hole returning 318m of 0.42% copper, 0.17 g/t gold, 3.87 g/t silver, and 294 g/t molybdenum, and hole 201 intersected 150m of 0.60% copper, 0.19 g/t gold, 5.12 g/t silver and 391 g/t molybdenum. The objective is to test for a high-grade copper core to the Camp Creek porphyry.

The Trifecta Copper Target is located 1.5km southeast of Camp Creek and may be drill tested based on recent surface copper-in-rock and soil results and historical drilling, which returned encouraging copper-molybdenum results. The objective of this work is to search for a new porphyry copper center.

The Cirque Copper-Molybdenum Target is located 3km east of Camp Creek where drilling will test for a potential new porphyry center.

The North Copper Target area is located 15km northwest of Camp Creek, centered on a large surface copper anomaly. Drilling is planned upon completion of the MT survey and additional mapping and sampling with the objective of confirming a new copper porphyry center.

Watch Chairman and CEO, Gary Thompson, provide a summary of the 2024 drill program.

Chairman and CEO Gary R. Thompson stated: “The Brixton team is excited to kick off the 2024 season. The Company has $12.5 million budgeted for the Thorn Project in exploration expenditures with the focus on new copper-gold porphyry mineralization. The scale of surface copper-gold mineralization is remarkable and Brixton is well positioned to generate new discoveries.”

Figure 1. Thorn Project, Copper Geochemistry and 2024 Target Areas.



About Camp Creek Porphyry Target

The original discovery of the Camp Creek Corridor was made by Cominco geologists in 1952 who identified the intense acid sulphate alteration in the area. However, it was not until 2019 when chalcopyrite-molybdenum veined clasts were observed below 400m depth within drill hole 150 on the Oban diatreme breccia which cut 554.70m of 0.57 g/t Au, 0.24% Cu, 43.18 g/t Ag, 0.55% Zn, and 0.28% Pb from 97.00m depth, providing evidence for a porphyry at depth. In addition, A-type porphyry veins were identified from relogging hole 121. Drill hole THN13-121 at the Glenfiddich Zone (located one kilometer west from hole 150) cut 2.21m of 10.62% copper, 583.05 g/t silver, and 2.55 g/t gold from a massive enargite-tetrahedrite-pyrite vein. The copper porphyry at Camp Creek was a blind discovery confirmed in 2021 when holes 183 and 184 were drilled below 1000m. The Camp Creek porphyry-style mineralization generally starts 300-400 meters below the surface level and remains open in all directions including at depth. Hole THN23-261 ended in mineralization at 1650m depth.

Learn more about the Camp Creek Porphyry Target from Senior Project Geologist, Corey James.

Figure 2. Drill Targets, Previous Collar Locations, and Copper-Gold Geochemistry.



Figure 3. Hole THN23-277 photograph of mineralized core at 1032.88m depth from a 2.00m Interval that assayed 0.66% Cu, 112 ppm Mo, 12.0 g/t Ag, 0.24 g/t Au.



About the Trifecta Target

The Trifecta Target lies between the Camp Creek porphyry target, the Outlaw Sediment-hosted Gold Target, and the Chivas Porphyry Target. Surface mineralization is expressed as structurally controlled narrow quartz veining with pyrite and chalcopyrite. A massive magnetite-pyrite-chalcopyrite vein in outcrop with a sericitic halo surrounded by strong silicification was found during the 2023 field program that returned 2.46% Cu, 71.4 g/t Ag, and 0.36 g/t Au. The mineralization style at the Trifecta Target is thought to be related to a copper porphyry at depth.

About the Cirque Target

The Cirque Target area, located 3km northeast from the main Camp Creek drilling, was revisited in 2023, which identified a 1km by 2km northwest trending area of pyrite-chalcopyrite mineralization. Historic drilling in the Cirque area by Julian Mining in 1965 intercepted sporadic copper mineralization throughout thirteen holes. The best hole from the 1965 program returned 0.19% Cu and 710 ppm Mo over 10.67m. Quartz-chalcopyrite veins were sampled in the area to the northwest of this historic drilling returned 1.6% copper. Mineralization is hosted primarily in Windy-Table volcanics and associated intrusions. Silica-sericite-pyrite alteration throughout the target area and the widespread pyrite-chalcopyrite mineralization in conjunction with favorable magnetic signatures and anomalous porphyry-index indicators suggest that a potential Cu-Mo porphyry system at Cirque remains untested.

About the North Copper Target Area

In the northwest corner of the Thorn Project, the Copper Target comprises a 15km by 5km area located 15km northwest of Camp Creek. Mineralization consists of broad, pervasive zones of disseminated and vein-hosted pyrite with localized areas of chalcopyrite and molybdenite that may represent the periphery of a porphyry system, as well as higher-grade narrow polymetallic vein zones and skarn-style mineralization that are more representative of distal environments.

Widespread mineralization at the main gossan consists of a large area with abundant pyrite, locally up to 15%, and smaller areas of increased chalcopyrite, molybdenite, and magnetite coincident with a quartz-biotite-feldspar porphyry of undetermined age. Copper-molybdenite mineralization is found in quartz veins and as fracture-fill with samples in 2023 returning up to 0.7% Cu and 2,290 ppm Mo. The north gossan is comprised of extensive pyrite with lesser chalcopyrite and distal galena with up to 5% pyrite and trace molybdenite in a hornblende granodiorite directly east of the area. Mineralization at the south gossan is predominantly associated with trace pyrite, chalcopyrite, and magnetite mineralization within a potassium feldspar megacrystic porphyry.

Higher-grade polymetallic mineralization is generally concentrated along the margins of Late Cretaceous dykes with silicified vein breccias extending 5-10 meters into the surrounding Laberge Group country rocks. The breccias are composed of sandstone and conglomerate of the Jurassic Laberge Group with quartz-pyrite-galena-sphalerite and trace sulfosalt and chalcopyrite filling the matrix.

A ground magnetotelluric (MT) geophysical survey of approximately 90 square kilometer in area is planned prior to drilling the King Copper Target.

2024 Gold Targets

While the dominant focus for 2024 at the Thorn Project is to drill test copper porphyry targets for new discovery, the Company continues to review gold targets for drill testing in 2024. These may include selective drilling at the Trapper Epithermal Gold Target (best intercept to date: 64m of 5.7 g/t Au), the Outlaw Sediment-hosted Gold Target (best intercept to date: THN-14-128 returned 59.65 meters of 1.15 g/t Au and 5.64 g/t Ag from a depth of 76 meters) and/or the Metla Target where surface rock grab samples to date returned up to 62.7 g/t Au.
MDRU Collaboration
Brixton Metals is collaborating with the University of British Columbia’s Mineral Deposit Research Unit as part of the BC Porphyry Study. An M.Sc. research project has commenced on the Camp Creek Porphyry Target with the goal of establishing geochemical and alteration vectors towards blind porphyry mineralization. In addition, an alteration mapping project is underway to characterize and map the large 4.1km x 3.9km alteration footprint centered around Camp Creek. With porphyry deposits frequently found in clusters, the use of petrographic, geochemical, and mineral spectrometer analyses will aid with vectoring outside of the currently drilled areas in order to identify additional potential porphyry centers.
Qualified Person
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the Company who is a qualified person as defined by National Instrument 43-101. Mr. James has verified the referenced data disclosed in this press release and has approved the technical information presented herein.

Corporate Update

The Company announces that the Board of Directors, on receipt of a recommendation from the Compensation Committee, has granted an aggregate of 7,950,000 incentive stock options (the “Options”) to officers, directors, employees and consultants to the Company at a per share exercise price of $0.13 for a period of 10 years from the date of grant. The total number of optionees is 25. The Options will vest immediately with the exception of Options granted to investor relations personnel, which will vest in stages over 12 months from the date of grant with no more than one-quarter of the Options granted to investor relations personnel vesting in any three-month period in accordance with the policies of the TSX Venture Exchange. The Options represent 1.7% of the issued and outstanding shares in the capital of the Company. The total options granted to date including this new grant is 5.94% of the issued outstanding shares in the capital of the Company.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
Tel: [phone] or email: [e-mail]

Michael Rapsch, Senior Manager, Investor Relations
Tel: [phone], email: [e-mail]

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.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Links:

https://youtu.be/G_TRsfpZSyY

https://youtu.be/0hWWh30POJ8

https://brixtonmetals.com/wp-content/uploads/2024/05/Figure-1_20May2024.jpg

https://brixtonmetals.com/wp-content/uploads/2024/05/Figure-2_20May2024.png

https://brixtonmetals.com/wp-content/uploads/2024/05/Figure-3_20May2024.jpg

[Lone Clone]

Commerce Resources Enters into Agreement to Sell Its Blue River Property

https://www.accesswire.com/865032/commerce-resources-enters-into-agreement-to-sell-its-blue-river-property

Tuesday, 21 May 2024 03:05 AM

VANCOUVER, BC / ACCESSWIRE / May 21, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") has elected to dispose of the Blue River Assets (as defined below) by pursuing a sale of the property to a third party (the "Blue River Transaction").

Company President Chris Grove states "We believe that focusing exclusively on our claims in Quebec with the significant opportunities of both our Ashram REE/ Fluorspar Deposit and our highly prospective niobium claims - on which we plan to drill this year - makes the best sense for the Company. We also believe that the Blue River claims will be effectively stewarded by the management of Capacitor Metals."

The Company clarifies that, further to its news release dated June 22, 2023, it will no longer proceed with a spin out of its Blue River Assets (as defined below) pursuant to a proposed statutory plan of arrangement, as previously disclosed.

The Company has entered into a property purchase agreement (the "Purchase Agreement") with an arm's length private company (the "Purchaser") to sell its interest in certain mineral claims comprising the "Blue River" property (the "Blue River Claims") located near Blue River, British Columbia. As part of the transaction, the sale will also include certain real property owned by the Company also located in Blue River, B.C. (the "Blue River Land", and together with the Blue River Claims, the "Blue River Assets"). As consideration for the Blue River Assets, the Company will receive 20,000,000 common shares in the capital of the Purchaser at a deemed price of $0.05 per share (the "Blue River Shares"). Completion of the Blue River Transaction is subject to the conditions set forth in the Purchase Agreement, including, if required, acceptance by the TSX Venture Exchange.

It is the Company's current intention to distribute the Blue River Shares to its shareholders on a pro rata basis at a later date. Any disposition of the Blue River Shares will, if undertaken, be conducted in compliance with applicable corporate and securities laws, and the policies of the TSX Venture Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email [e-mail].

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"
Chris Grove
President and Director
Tel: [phone]
Email: [e-mail]
Web: http://www.commerceresources.com

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

Forward Looking Statements

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include that the sale of the Blue River Assets is subject to certain conditions, including acceptance by the TSX Venture Exchange, if required; that the Company may distribute the Blue River Shares to shareholders on a pro rata basis; that the Ashram Deposit has the potential to be a long-term supplier to the met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth producers globally. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include: that the TSX Venture Exchange may not accept the sale of the Blue River Assets; that the sale of the Blue River assets may not be completed as contemplated in the purchase agreement, or at all; that we may not be able to fully finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful and even if such tests are successful, the economic and other outcomes may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; the required permits to build and operate the envisaged open-pit shell may not be obtained in a timely or cost-effective manner, or at all; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

[Lone Clone]

Hanstone Gold Acquires Mineral Exploration Claims

https://thenewswire.com/press-releases/1AD4FlDQd-hanstone-gold-acquires-mineral-exploration-claims.html

Vancouver, BC, May 17, 2024 – TheNewswire – Hanstone Gold Corp. (TSX.V:HANS) (FRA:HGO) (the “Company” or “Hanstone”) is pleased to announce that it has closed its acquisition of three mineral exploration claims (the “Purchased Claims”) comprising approximately 355.37 hectares in the Province of British Columbia pursuant to an asset purchase agreement dated as of May 6, 2024 (the “APA”) with Richard Mill (“Mill”).

As consideration for the Purchased Claims the Company issued 650,000 common shares of the Company (each, a “Share”) to Mill at a deemed price of $0.05 per Share, representing an aggregate value of $32,500. The Shares were issued in accordance with applicable securities laws and are subject to a four month hold period that will expire on September 17, 2024. In addition, the Company granted to Mill a royalty equal to 2% of the net smelter returns on the Purchased Claims (the “NSR Royalty”), provided that the Company may purchase 1/2 of the NSR Royalty (so that a 1% royalty will remain) for total consideration of $500,000 at any time.

About Hanstone Gold Corp

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn-in option on the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

For Further Information Contact:

Ray Marks, President

[phone], [e-mail]

Or visit the Company’s website at www.hanstonegold.com

Forward Looking Statements Disclaimer

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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

[Lone Clone]

Grizzly Reports Exploration Results for the Midway Mine Area, Part of the Greenwood District Precious and Battery Metals Project, BC and Plans for 2024

https://www.newsfilecorp.com/release/208948

May 13, 2024 10:48 AM EDT | Source: Grizzly Discoveries Inc.

Edmonton, Alberta--(Newsfile Corp. - May 13, 2024) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to provide an update and plans for an initial drill and trenching program at the Company's Midway Mine Area within the Company's Greenwood District Precious and Battery Metals Project, British Columbia (BC). All assay results for the 2023 rock and soil samples, including the Midway Mine Area, collected from the Company's 172,000 acre Greenwood District have been received. Significant and important high grade results for gold (Au), silver (Ag), copper (Cu), lead (Pb) and zinc (Zn) have been received from a number of important areas and targets at the Midway Mine area, explored during 2023 and prior to that in 2022. The priority list of targets includes the Midway Mine, a faulted area west of the Midway Mine (Midway West Fault), to the northeast of the Midway Mine (Midway Northeast), the Picturestone Quarry area and the Lois – Burce area to the south of the Midway Mine area (Figures 1 to 4).

Brian Testo, President and CEO of Grizzly Discoveries, stated, "We are excited with the new results and discoveries to date from the Midway area and we are planning follow-up exploration including ground geophysical surveys to be followed by drilling and trenching. Our drilling and trenching permit for Midway is imminent. We also are looking forward to pursuing a number of other high grade gold – silver – copper showings and historical mines with drilling in 2024 along with additional exploration for significant battery metals in our current 170,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!"

The focus of the 2023 program was ground work for assessment and follow up work on a number of targets that returned excellent results during prior years including 2022. In addition, work was also conducted on a number of new targets acquired by staking and/or acquisition in the area while the Company waits for drilling and trenching permits. Highlights of the 2023 work are as follows:

Highlights:

The 2023 program saw the collection of a total of 755 rock grab or rock chip samples (with 347 from the Midway area) across the property (Figure 1) from May to November, 2023 along with a total of 4,065 soil samples (with 1,617 from the Midway area).
Land acquisition during 2023 included new mineral claims at Beaverdell, Westbridge and in the Greenwood area at Midway, north of Midway, east of the town of Greenwood in the Marshall Lake area adjacent to the historical Phoenix Mine (Figure 1).



Figure 1: Land position and targets of interest for future exploration, Greenwood Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/208948_57fb37bc94d8eab7_002full.jpg

Midway Mine Area

An extensive sampling program was conducted at the Midway area during 2023 with the discovery of several new showings in the immediate area around the Midway Mine and in the Lois – Bruce area.
At Midway Mine area, selective rock grab and composite rock grab samples collected during 2022 and 2023 from outcrop yielded a range of 12.05 grams per tonne (g/t) or 0.351 ounces per ton (opt) Au up to 70.8 g/t (2.065 opt) Au, along with 3 of 7 selective rock grab samples from the Midway Mine yielding from 1,360 g/t Ag (39.7 opt) up to 2,140 g/t Ag (62.4 opt) (See Company news release dated October17, 2022 and Figures 2 to 4).
A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 opt) and 1,530 g/t Ag (44.6 opt), illustrating that there is potential for additional high-grade mineralization in the area (Figure 4). This target has not been drilled.
Two new showings were identified in 2023 near the historical Midway Mine including up 5.64 g/t Au (0.165 opt) from a showing 400 m to the northeast of Midway (Midway Northeast) and up to 4.19 g/t Au (0.122 opt) from a grab sample collected about 375 m to the west of the Midway Mine (Midway West Fault on Figure 4). These targets have not been drilled.
All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature.
At least 6 new areas with anomalous gold (> 100 parts per billion [ppb]), copper (>200 parts per million [ppm]) and silver in soils have been identified at Midway (Figures 2 to 4).
A number of rock grab samples collected from the Lois – Bruce area have yielded from >1 g/t Au up to 3.56 g/t Au and from >1% Cu up to 5.92% Cu along with a number of soils with >100 ppb Au and >100 ppm Cu (Figures 2 and 3).
The Midway area is being targeted for copper-gold skarn, porphyry and epithermal gold-silver.
A number of drillholes and trenches in the area of the Midway Mine and associated showings are being permitted for work during 2024 with the permit expected shortly (Figure 4).



Figure 2: Midway Area Geology and Showings with Gold in Soils and Rocks.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/208948_57fb37bc94d8eab7_004full.jpg



Figure 3. Midway Vertical Derivative Magnetics and Showings with Gold in Soils and Rocks.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/208948_57fb37bc94d8eab7_005full.jpg



Figure 4. Midway Mine Geology and Showings with Gold in Soils and Rocks.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/208948_57fb37bc94d8eab7_006full.jpg

The Midway Mine and the Picturestone (aka Picture Rock) Quarry area have seen intermittent exploration and mining since the late 1800's through to as recent as 2012. In the case of the historical Midway Mine, limited underground and open pit development has occurred. The Midway Mine and the Picturestone Quarry are situated within the "Midway Window", a structural zone within the Toroda Graben exposing Late Paleozoic to Jurassic sediments, volcanics and intrusions, including the Knob Hill and Brooklyn formations, centered on an old thrust fault in a similar setting to the Golden Crown and Lexington Mine area near Greenwood, BC as displayed in Figures 2 and 3. The presence of serpentinite and listwanite in a thrust fault setting along with what is likely Jurassic aged quartz-feldspar porphyry and diorite has been noted.

Prior owners and operators describe significant epithermal mineralization in the form vertical polymetallic sulphide veins enriched in pyrite, arsenopyrite, galena, sphalerite and stibnite and significant alteration at the Midway Mine and Picturestone Quarry. The Midway Mine is spatially associated with a northeast trending gold (Au), silver (Ag), lead (Pb), zinc (Zn) and arsenic (As) soil geochemical anomaly that is approximately 300 m in length and 100 m in width in the area of the Midway Mine. Historical trench sampling yielded 2.8 g/t Au and 218 g/t Ag over a 4.5 m interval in chip/channel sampling at the Midway Mine. Limited drilling with some significant intercepts was carried out in the 1980's to 1990 at the Midway and Picturestone prospects.

Minnova Inc. conducted a 7 hole core drilling program for a total of 1,170 m 1990 in the Midway Mine area. No drilling has been conducted since. A total of 274 m of core was sampled and two holes tested the actual historical Midway Mine. Hole 90-1 drilled to a depth of 84.45 m intersected 23 m of altered quartz-feldspar porphyry with pyrite and some pyrite-galena veins. The best result obtained in sampling was 1.14 g/t Au (0.033 oz/t Au) and 208 g/t Ag (6.1 oz/t Ag) over 1.5 m core length. A 10.5 m interval of strongly altered quartz-feldspar porphyry returned an average grade of 0.33 g/t Au (0.001 oz/t Au) and 52.7 g/t Ag (1.54 oz/t Ag). A number of the drillholes completed intersected serpentinite, listwanite, diorite and then bottomed in Triassic Brooklyn Formation sharpstone conglomerate with pyrite and skarnified limestone clasts. A number of the other holes intersected similar geology, alteration and gold – silver values as hole 90-1. Additional trenching and drilling were recommended.

The most recent work in 2012 resulted in a recommendation of ground geophysical surveys, additional soil sampling and drilling. The work was never completed.

Plans For 2024 Exploration at Greenwood:

An extensive rock and soil sampling program along with new geological mapping during 2023 has been completed in preparation for drilling at a number of locations in the Greenwood Area in 2024. Drilling is warranted at Midway but also at a number of other targets.

The Company currently has active drilling permits for Ket 28, Dayton and the Motherlode target areas. The Company is awaiting permits for drilling +/- trenching at the Midway, Imperial, Sappho and the Copper Mountain target areas. Depending upon funding, the Company is planning for an aggressive drilling campaign for 2024 in order to take advantage of the outstanding metal prices.

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: [phone]
Email: [e-mail]

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.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

SOURCE: Grizzly Discoveries Inc.

[Lone Clone]

Neotech Metals Begins Field Work on its Foothills REE Project, British Columbia

https://www.newsfilecorp.com/release/209207

May 15, 2024 4:00 AM EDT | Source: Neotech Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2024) - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) ("Neotech" or the "Company"), a rare-earth mineral exploration company, is pleased to announce the start of its summer field program on its 100% wholly-owned Foothills project in British Columbia, Canada.

Ground-based geophysics, rock and stream sediment sampling, geochemical soil, and biogeochemical sampling focusing on the anomalous British Columbia Geological Survey ("BCGS") stream-sediment samples will be used to aid in targeting any potential discoveries. Using this methodology has led to significant discoveries in the past (e.g., Brummer et al. 1987).

Teamed up with Anomalous Exploration Ltd, Neotech employees, and contractors will focus on samples to be taken on a regional scale and sent into labs for assay to prepare for a mapping and prospecting program planned for later this year.

The ongoing BCGS survey, along with recent literature, ranks the region as highly prospective due to the elevated concentrations of rare-earth elements scoring in the 98th percentile across the survey, conducted across the entire province.

The recent BCGS publication (January 2024) can be found here.

Reagan Glazier, CEO of Neotech Metals, commented: "We're excited to commence work on this highly prospective ground and to be able to gain access to the property this early in the season due to the diminished snowpack, allowing us to systematically explore the region in multiple phases within a single year."

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Ike Osmani, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

For more Information please contact:
Reagan Glazier, Chief Executive Officer
E-mail: [e-mail]
Telephone:[phone]

About Neotech Metals Corp.

Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The Company is a dedicated rare-earth element mineral exploration company based in Vancouver, B.C., and owns 100% of it's TREO Rare Earth Element Property located 90km Northeast of Prince George, British Columbia and its Foothills Project which it also owns wholly 100%. The Company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on certain expectations and assumptions, including future plans and objectives of Neotech Metals Corp. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

SOURCE: Neotech Metals Corp.

[Lone Clone]

Starcore Reports Final 2023 Exploration Results at Its Ajax Property, Golden Triangle Area, British Columbia

https://www.newsfilecorp.com/release/207110

April 29, 2024 2:30 AM EDT | Source: Starcore International Mines Ltd.

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2024) - Starcore International Mines Ltd. (TSX: SAM) (FSE: V4JA

[Lone Clone]

Sable Options Perk-Rocky Copper-Gold Porphyry Project in BC Canada

https://ca.finance.yahoo.com/news/sable-options-perk-rocky-copper-110000231.html

Sable Resources Ltd.
Tue, May 14, 2024 at 4:00 a.m. PDT·5 min read

SBLRF
-7.45%

VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE | OTCQB: SBLRF) is pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Perk-Rocky Project located 225km west of Williams Lake, British Columbia, Canada (“Perk-Rocky” or the “Project”).

Perk-Rocky is a porphyry copper-gold exploration project comprising 10,475 Ha of mineral claims located at the suture between Stikine equivalent volcanic Terrane and younger coast range intrusives. The Project also lies within a regional structural belt that hosts the New Prosperity, IKE and Empress porphyry deposits and porphyry related projects as well as the historical high-grade Bralorne gold mine which collectively highlight the mineral endowment and prospectivity of this mineralized belt. Perk-Rocky is centered around a large porphyry style alteration zone of at least 8km by 5km that includes multiple mineral occurrences such as the Briton prospect (Fe), Rya, Perkins Peak, Chilco and neighbouring showings (Cu-Au). Despite the significant alteration and mineralization present, the Project has only seen very limited exploration including short campaigns of talus and rock sampling, an airborne VTEM and magnetic survey, and only 2,049 metres of drilling in 2021. Subsequent multi-band WorldView-3 satellite work has further enlarged the interpreted lithocap size.

Dr. Ruben Padilla, President and CEO of Sable commented, “Perk-Rocky’s metallogenic setting, large surface footprint, favourable erosional level and alteration style, and geochemical signature align with Sable’s objective of discovering large porphyry Cu-Au deposits. In addition to having at least three locations reporting outcropping Cu-Au porphyry mineralization and very good access, Perk-Rocky is also a good project from an operational point of view as we can advance it during the time of the South America winter when we reduce field activities in Argentina.”

Terms of Option Agreement

Sable can earn a 100% interest in the Perk-Rocky Project by completing the following payments to the vendors:

CAD$100,000 upon signing the option agreement; and issuance of 500,000 Sable common shares on receipt of TSX Venture Exchange approval;

CAD$150,000 on or before the first anniversary;

CAD$225,000 on or before the second anniversary;

CAD$250,000 on or before the third anniversary;

CAD$500,000 on or before the fourth anniversary; and

CAD$775,000 on or before the fifth anniversary.

Following earn-in to 100% ownership in the Project, milestone payments are payable as follows:

US$650,000 in the event Sable files a National Instrument 43-101 (“NI 43-101”) technical report that includes a mineral resource on the Project.

US$1,500,000 in the event Sable files a Preliminary Economic Assessment (as defined in NI 43-101) on the Project.

US$2,000,000 in the event Sable completes a Feasibility Study on the Project; and

US$5,000,000 in the event Sable proceeds with commercial production at the Project.

The vendors retain a 3.0% NSR, which Sable can buydown to 1.0%.

The Agreement is subject to the approval of the TSX Venture Exchange.

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favourable, established mining jurisdictions. Sable's focus is developing its large portfolio of new Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.6Mha in application, 26,373ha titled) incorporating the Vinata and El Escarpe projects.

For further information, please contact:

Ruben Padilla, President & CEO at ruben.padilla @ranro

Related link: sableresources.com

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

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated 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 laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

[Lone Clone]

Canadian Critical Minerals Provides Progress Report on Bull River Mine Project

https://www.newsfilecorp.com/release/209194

May 14, 2024 5:41 PM EDT | Source: Canadian Critical Minerals Inc.

Calgary, Alberta--(Newsfile Corp. - May 14, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) is pleased to report that it has received additional revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("BRM") project near Cranbrook, BC. During the month of April 2024, the Company trucked 362 wet metric tonnes ("wmt") of mineralized material to New Afton and the Company received a provisional payment of approximately US$72,445 for the April shipments. The mineralized material sent to New Afton graded 2.96% Cu, 0.62 g/t Au and 23.1 g/t Ag.

The Company is using a Steinert KSS 100 X-Ray Transmissive Ore Sorter ("Ore Sorter") to pre-concentrate coarse mineralized material from a large surface stockpile at the BRM prior to transporting to New Afton for processing under an Ore Purchase Agreement ("OPA") (see press release dated October 5, 2023, on Sedar+). Road restrictions, that were imposed by the Ministry of Transportation and Infrastructure of British Columbia on February 24, 2024, to 70% of normal loads in the Cranbrook area, were finally removed on April 24, 2024. The Company has now resumed trucking operations.

Ian Berzins, President and CEO commented, "With road restrictions now removed in the Cranbrook area, we expect to increase sending high-grade, pre-concentrated stockpile material to New Afton. The run of mine mineralized material from the surface stockpile grades 1.39% copper, 0.29 g/t gold and 11 g/t silver, so we are still seeing grade improvements of over 200% for all metals using the ore sorter. The stockpile is not totally homogeneous in terms of grade, so we expect to see some fluctuation in results in coming months."

Qualified person

CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Gary Low, P.Geo., who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.

About Canadian Critical Minerals Inc.

CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 34% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: [phone]
E: [e-mail]
Website: www.canadiancriticalmineralsinc.com

Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. 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 law.

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

SOURCE: Canadian Critical Minerals Inc.

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VIZSLA COPPER PROVIDES CORPORATE UPDATE AND POPLAR COPPER-GOLD PROJECT STRATEGY UPDATE

https://www.newswire.ca/news-releases/vizsla-copper-provides-corporate-update-and-poplar-copper-gold-project-strategy-update-818409377.html

Vizsla Copper Corp. May 16, 2024, 08:00 ET

VANCOUVER, BC, May 16, 2024 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)

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InZinc Announces Key Correlations to One of the World's Most Prolific Zinc-Lead-Silver Belts, the Selwyn Basin, at the Indy Project in Central BC

https://www.newsfilecorp.com/release/209469

May 16, 2024 11:24 AM EDT | Source: InZinc Mining Ltd.

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2024) - InZinc Mining Ltd. (TSXV: IZN)

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Evergold – CSAMT Survey Over DEM1 Prospect, B.C., Reveals Large Target Extending Across All Lines and to Depth Below Reconnaissance Drill Holes

https://ca.finance.yahoo.com/news/evergold-csamt-survey-over-dem1-110000168.html

Evergold Corp.
Mon, May 13, 2024 at 4:00 a.m. PDT·5 min read

EVGUF
0.00%

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to report, further to highly encouraging reconnaissance drill results released earlier this year (news January 15, 2024, recapped below), the completion of a 5 line-km CSAMT (Controlled Source Audio-frequency Magneto-tellurics) deeper-looking geophysical survey directly over the DEM1 target (Figure 1). The survey has revealed (Figures 2 to 6) a large-scale resistivity-low anomaly coincident with high Induced Polarization (IP) chargeability, suggestive of the presence of abundant sulphides, extending across all lines, a north-south distance of 500 metres, and to beyond the 400-metre depth limit of the survey. The anomaly approximates 400 metres in width, presenting a highly attractive target for follow-up drilling this season, details of which will be forthcoming.

“The DEM1 target below and lateral to where we first hit it in last fall’s short program, really looks terrific”, said Kevin Keough, President & Chief Executive Officer. “It is a large, deep-seated target within a considerably larger general target area and we already know, from the reconnaissance drill results, that the system is richly mineralized, having already delivered broad intercepts of low-grade gold and silver from surface and, within that broad envelope, local high grades of an impressive spectrum of high-value elements, including precious and strategic metals and a high-level porphyrytic intrusion hosting molybdenum and gold. Recall that our team’s massive Saddle discovery some years ago for GT Gold took more holes and considerably more metres to really get on to than just the 3 reconnaissance holes and 947 metres we have managed to put into the DEM prospect so far. We believe the DEM1 system is capable of delivering much better results than we’ve seen to date.”

January 15, 2024 News Recap: Highlight Intercepts, DEM1 Target, Fall 2023 Reconnaissance Drill Program. (Note: For cost-saving purposes the three holes were only partially sampled. Priority intervals were determined by visual and XRF analysis of mineralization intensity. Pads and casing were left in place with a view toward possible re-use for follow-up drilling):

Drill Pad 1: DEM23-01: Partially delineated system envelope – from surface

135 metres of 0.12 g/t Au and 2 g/t Ag from 6 to 141 metres

Including: high-grade tungsten and silver, with tellurium: 0.32% W, 155 g/t Ag, 5 ppm Te, from 131 to 132 metres

Drill Pad 1: DEM23-02: First intercept of high-grade veining within porphyritic intrusive

High-grade molybdenum (0.82%) with gold (1.2 g/t), silver (8 g/t), rhenium (3.7 g/t) from 299 to 300 metres

Drill Pad 2 located 450 metres from Pad 1: DEM23-03, deeper test, partially delineated system envelope:

48.2 metres of 0.58 g/t Au and 11 g/t Ag from 303 to 351.2 metres

Including: high-grade gold: 11.98 g/t Au and 24 g/t Ag from 339 to 340.5 metres

Including: high-grade cobalt, high-grade gold, high-grade tellurium: 0.11% Co, 29.5 g/t Au, 22 g/t Ag, 0.19% Cu, 42 ppm Te from 340 to 340.5 metres

About the DEM Project

The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central B.C.. The project area lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel terrane, the latter of which hosts large deposits and long-life mines including the Mount Milligan mine (50 kms to the northeast of DEM) and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the Highland Valley mines and deposits. Located central to the DEM property is the DEM1 prospect, a roughly 4km2 target area defined by alteration and mineralogy suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, by compelling high-relief magnetic, IP-chargeability and CSAMT resistivity anomalies, and by the presence of nearby regional scale structures. Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM1 prospect. All of these factors, combined with the results of a reconnaissance drilling program carried out in October and November, 2023, indicate excellent discovery potential for a precious and strategic metals-enriched epithermal vein system, or systems, associated with porphyry intrusions. Further details on the DEM prospect may be found on the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report dated August 30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.

Qualified Person

Charles J. Greig, M.Sc., P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

Figure 1: DEM1 Target – Controlled-Source Audio-frequency Magneto-tellurics (CSAMT) Survey Lines on Total Magnetic Intensity (TMI)



Figure 1 - CSAMT Survey Lines on TMI

Figure 2: DEM1 Target, Responses Compared: CSAMT vs. IP, Line 68000



Figure 2 - CSMAT vs IP - line 68000

Figure 3: DEM1 Target - CSAMT Resistivity Section, Line 67800



Figure 3 - CSAMT Section Line 67800

Figure 4: DEM1 Target - CSAMT Resistivity Section, Line 67900 with Reconnaissance Drill Hole DEM23-03. Note: hole partially sampled only. Unsampled intervals are highlighted in blue on the hole trace.



Figure 4 - Recon Drill Hole DEM23-03 on CSAMT Section Line 67900

Figure 5: DEM1 Target - Line 68000 CSAMT Resistivity Section



Figure 5 - CSAMT Section Line 68000

Figure 6: DEM1 Target - Line 68100 CSAMT Section with Reconnaissance Drill Holes DEM23-01 and DEM23-02. Note: holes partially sampled only. Unsampled intervals are highlighted in blue on the hole trace.



Figure 6 - Recon Drill Holes DEM23-01 & DEM23-02 on CSAMT Section Line 68100

About Evergold

Evergold Corp. is a TSX-V listed mineral exploration company with projects in B.C. and Nevada. The Evergold team has a track record of success in the junior exploration space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle epithermal vein and porphyry copper-gold deposits near Iskut B.C., sold to Newmont in 2021 for a fully diluted value of $456 million, representing a 1,136% (12.4 X) return on exploration outlays of $36.9 million.

For additional information, please contact:

Kevin M. Keough
President and CEO
Tel: [phone]
[e-mail]
www.evergoldcorp.ca

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 Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward- looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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, other than as required by law.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/375244b7-8e57-4794-ab2c-d3ef9bd28ef4

https://www.globenewswire.com/NewsRoom/AttachmentNg/adfbf3ce-7351-4a47-af9a-9f0f75cb7b41

https://www.globenewswire.com/NewsRoom/AttachmentNg/3144f77e-1356-48ce-9c95-5f7b13c51da0

https://www.globenewswire.com/NewsRoom/AttachmentNg/b0d88ca3-ea90-4aca-a195-e7fbc4da37ba

https://www.globenewswire.com/NewsRoom/AttachmentNg/1871a4ac-7d64-48ac-a465-3f61a0f0faf5

https://www.globenewswire.com/NewsRoom/AttachmentNg/2c61e504-b9e4-4394-9044-aa3034d43e37

[Lone Clone]

Rokmaster Resources signs LOI with Kootenay Resources for option to acquire the Nechako Project, a large copper-gold property package in central BC

https://www.newswire.ca/news-releases/rokmaster-resources-signs-loi-with-kootenay-resources-for-option-to-acquire-the-nechako-project-a-large-copper-gold-property-package-in-central-bc-890383806.html

Rokmaster Resources Corp. May 15, 2024, 03:00 ET

VANCOUVER, BC, May 15, 2024 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "RKR") and Kootenay Resources Inc. (TSXV: KTRI) ("Kootenay Resources" or "KTR") are pleased to announce the finalization of a letter of intent ("LOI") between the Companies for the road accessible Fox-Coconut and Mystery Properties, which are both located south of Highway 16 between Prince George and Smithers in west-central British Columbia (the "Nechako Project") (Figure 1).











Nechako Project (CNW Group/Rokmaster Resources Corp.)


Fox Coconut Property (CNW Group/Rokmaster Resources Corp.)


Fox Property Channel Sampling (CNW Group/Rokmaster Resources Corp.)


Mystery Property (CNW Group/Rokmaster Resources Corp.)


The Nechako Basin region in central British Columbia is host to several significant past producers and current development projects. The Fox-Coconut Property is south of Centerra Gold's Endako molybdenum porphyry deposit which was in production for nearly 50 years and has a current measured and indicated mineral resource ("M&I") of 169.3 Mt at 0.04% Mo1. The Equity Silver Mine was another past producer in the region which produced 71 Moz silver, 0.51 Moz gold, and 185 million lbs copper from 33.8 Mt mined between 1981 and 19942. The Blackwater Mine, located south of the Fox-Coconut Property, is currently being constructed by Artemis Gold to begin production on an M&I mineral resource of 11.7 Moz gold and 122.4 Moz of silver later this year3.



The Mystery Property is located northeast of Imperial Metal's Huckleberry Mine which produced over 1.0 billion lbs copper and associated molybdenum, silver, and gold from the 153 Mt mined between 1997 and 20164. Surrounding to the Huckleberry Mine, Surge Copper Corp. is advancing the Berg deposit (M&I 1,009 Mt containing 5.1 billion lbs of copper) and the Ox and Seel deposits (combined M&I 438.6 Mt containing 1.7 billion lbs of copper)5. Other explorers in the Mystery Property area include Vizsla Copper Corp., Equity Metals Corp., and Quartz Mountain Resources.

The 4,988 hectare Fox-Coconut Property (Figure 2) is underlain by Eocene Ootsa Lake volcanic rocks in the west where a topographic high exposes fractured and silicified rhyolite volcanics hosting quartz veins and breccias. The Fox Showing area was hand-trenched and channel sampled in 2014 with results up to 45.3 g/t Au and 7,342 g/t Ag over 1.0 m6 (Figure 3). The eastern portion of the Property is characterized as a complex assemblage of volcanic and sedimentary rocks which hosts several structurally controlled vein/dyke corridors hosting high-grade gold and silver and coincident base metals. The Coconut Showing area features a broad zone of propylitic alteration with more focused zones of quartz-barite+/-tourmaline, chlorite, magnetite related to northwest trending structures.

Riocanex was the first documented operator on the Fox-Coconut Property, collecting 2,369 soil samples west of Island Lake in 1983 to test a lake bottom sediment sample anomalous in Ag, Cu, Pb. Since 2011, the Property has been steadily explored by the team at Kootenay Resources, including the Kennedy family, resulting in the collection of 762 soil samples and 985 rock samples. The Fox Showing and immediate area recently received approval for a five year exploration permit allowing for up to 30 diamond drill sites and 30 trenches with associated exploration trails.

The 12,193 hectare Mystery Property is situated over the Shelford Hills, a circular uplifted volcanic block exposing Cretaceous Kasalka Group volcanic rocks intruded by a stock of porphyritic monzonite belonging to the Late Cretaceous Bulkley Plutonic Suite (Figure 4). The Bulkley Plutonic Suite hosts the calc-alkalic porphyry Cu-Mo mineralization at the nearby Huckleberry, Ox, and Seel deposits7.

Historic soil geochemical anomalies for copper, lead, zinc, silver associated with a coincident magnetic high were returned from work completed by previous operators such as Kennco Exploration (1970), BP-Selco (1980's), Canamax (1983), and Noranda Exploration (late 1980's). More recent airborne geophysical surveys were completed by Quartz Mountain Resources in 2012 and Copper Mountain Mining in 2017, but those did not control a key group of claims covering the central area hosting anomalous geochemistry at the time. In 2022, Kootenay Resources conducted a prospecting program collecting 89 rock samples to successfully verify historic results and also identified a brand new showing of breccia-hosted sulphide mineralization associated with a large pyrite±tourmaline alteration zone.

Field work planned to advance the Nechako Project in 2024 includes detailed geological and geochemical surveys with a possibility for advanced geophysical surveys to refine drill targets. Trenching is planned for the Fox Showing to further expose the 2014 hand trenches with the potential for drill testing shortly after.

John Mirko, President and CEO of Rokmaster, comments:

"Rokmaster is pleased to enter into this friendly option arrangement with Kootenay Resources to evaluate and advance the Fox-Coconut and Mystery properties. The northern Nechako Basin is home to many past producing deposits with associated infrastructure and is currently seeing a resurgence of development and exploration activity. Our technical team is experienced with the geology and mineralizing systems in this prolific district and eager to refine and test the multiple targets on the Fox-Coconut and Mystery properties."

Jim McDonald, President and CEO of Kootenay Resources, comments:

"The Kootenay team has worked hard over the years to build a highly prospective portfolio of exploration properties in this prolific yet under-explored region of British Columbia. We are excited to welcome the Rokmaster team onto Mystery and Coconut-Fox, both excellent early stage exploration projects. We look forward to watching the projects evolve as Rokmaster sets about their work."

The LOI outlines the terms to be set out in an option agreement (the "Option Agreement") for RKR to be granted an option to acquire a 60% in the Properties by:

Incurring $142,000 of exploration work on the Properties prior to September 18, 2024;
Commencing on the first anniversary date of the Option Agreement, issuing to KTR 500,000 common shares of RKR each year on or before each of the first, second, third and fourth anniversary dates of the Option Agreement; and
On or prior to the fourth anniversary date of the Option Agreement, RKR having completed a total of 10,000 metres of diamond drilling on any or all of the Properties.

Once Rokmaster has acquired the initial 60% interest, (the "Initial Interest"), KTR would grant RKR an exclusive option (the "Second Option") to acquire the remaining 40% interest in the Properties (the "Second Interest") by issuing an additional 5,000,000 common shares of RKR to KTR within 60 days of having acquired the Initial Interest.

Upon RKR acquiring the Second Interest, RKR would grant KTR a 1.5% net smelter returns royalty (the "Royalty") in respect of the Mystery and Coconut group of mining claims. The Fox group of mineral claims have an existing underlying 2% net smelter returns royalty (the "Underlying Royalty"), and KTR has the right to buy back the entirety of such Underlying Royalty at any time at a price of $500,000 per 0.5% (the "Buy Back Right"). Should KTR buy back the entirety of such Underlying Royalty within 90 days after the date of the commencement of commercial production on the Fox group of claims, then RKR would also grant KTR the Royalty on such claims. If KTR does not so exercise the Buy Back Right, then KTR would transfer it to RKR.

The LOI is subject to the execution by the parties of a definitive Option Agreement and receipt of all requisite regulatory approvals.

The scientific and technical information presented above has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Jim McDonald, P.Geo. President & CEO of Kootenay Resources Inc., who is independent of Rokmaster and who acts as the Qualified Person for the purpose of this news release. Mr. McDonald is not independent of Kootenay Resources.

On Behalf of the Board of Directors of

Rokmaster Resources Corp. Kootenay Resources Inc.
John Mirko, James McDonald,
President & Chief Executive Officer President & Chief Executive Officer.



Footnote 1: The information on the Endako Mine Complex is based on public disclosure by Centerra Gold Inc. included in its 2023 Annual Information Form dated March 28, 2024 and the resource estimate is dated as of December 31, 2023. The Endako Deposit is estimated to contain 47.1Mt at 0.05% Molybdenum in the Measured category and 122.2 Mt at 0.04% Molybdenum in the Indicated category. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 2: The information on the Equity Silver Mine is sourced from the British Columbia Minfile database (#093L 001). The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 3: The information on the Blackwater Deposit is based on public disclosure by Artemis Gold Inc. included in the Technical Report on 2024 Expansion Study on the Blackwater Gold Project with an effective date of February 21, 2024. The Blackwater Deposit is estimated to contain 8.9 Moz gold (0.65 g/t Au) and 75.8 Moz silver (5.5 g/t Ag) in 427 Mt in the Measured category and 2.8 Moz gold (0.56 g/t Au) and 46.6 Moz silver (8.5 g/t Ag) in 170 Mt in the Indicated category at a cut-off of 0.20 g/t AuEq. The effective date of the mineral resource estimate is May 5, 2020. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 4: The information on the Huckleberry Mine is sourced from the British Columbia Minfile database (#093E 037), which in turn is supported by Imperial Metals Annual Information Forms and Reports. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 5: The information on the Berg, Ox, and Seel deposits is sourced from public disclosure by Surge Copper Corp. included in the Technical Report and Preliminary Economic Assessment on the Berg Project with an effective date of June 12, 2023. The Berg Deposit is estimated to contain 230 Mlbs of copper in 34 Mt (0.31% Cu) in the Measured category and 4,859 Mlbs of copper in 976 Mt (0.23% Cu) in the Indicated category for all Zones at a C$8.50 NSR Cut-off. The Mineral Resource Estimate Update for the Seel and Ox Deposits – Ootsa Property with an effective date of February 18, 2022. The Seel and Ox Deposits are estimated to contain 597 Mlbs copper in 133.8 Mt (0.20% Cu) in the Measured category and 1,097 Mlbs copper in 304.8 Mt (0.16% Cu) in the Indicated category for both deposits combined at a CDN$8.27 NSR Cut-off. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 6: Information sourced from BC assessment report #35437. Kennedy, S. 2015. Report on Rock Geochemistry and Geology on Fox mineral claims.

Footnote 7: Ogryzlo, P. L. 2021. Huckleberry: Cauldron subsidence in a continental magmatic arc. And Ebert, S. W. 2021. Geology and mineralization of the Seel and Ox deposits, Ootsa property, north-central British Columbia. In Sharman, L., Lang, J.T. and Chapman, J. eds., 2021. Porphyry deposits of the northwestern Cordillera of North America: A 25-year update. CIM.




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

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's or Kootenay Resources operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.

SOURCE Rokmaster Resources Corp.

For further information: please contact Mr. John Mirko, President & CEO of Rokmaster Resources Corp., jmirko @greenehugh or by website: www.rokmaster.com; For shareholder information please contact: Mike Kordysz, mkordysz @kronod 4; James McDonald, CEO and President of Kootenay Resources Inc. at [phone]; or visit: www.kootenayresources.com

[Lone Clone]

Rokmaster Resources signs LOI with Kootenay Resources for option to acquire the Nechako Project, a large copper-gold property package in central BC

https://www.newswire.ca/news-releases/rokmaster-resources-signs-loi-with-kootenay-resources-for-option-to-acquire-the-nechako-project-a-large-copper-gold-property-package-in-central-bc-890383806.html

Rokmaster Resources Corp. May 15, 2024, 03:00 ET

VANCOUVER, BC, May 15, 2024 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "RKR") and Kootenay Resources Inc. (TSXV: KTRI) ("Kootenay Resources" or "KTR") are pleased to announce the finalization of a letter of intent ("LOI") between the Companies for the road accessible Fox-Coconut and Mystery Properties, which are both located south of Highway 16 between Prince George and Smithers in west-central British Columbia (the "Nechako Project") (Figure 1).











Nechako Project (CNW Group/Rokmaster Resources Corp.)


Fox Coconut Property (CNW Group/Rokmaster Resources Corp.)


Fox Property Channel Sampling (CNW Group/Rokmaster Resources Corp.)


Mystery Property (CNW Group/Rokmaster Resources Corp.)


The Nechako Basin region in central British Columbia is host to several significant past producers and current development projects. The Fox-Coconut Property is south of Centerra Gold's Endako molybdenum porphyry deposit which was in production for nearly 50 years and has a current measured and indicated mineral resource ("M&I") of 169.3 Mt at 0.04% Mo1. The Equity Silver Mine was another past producer in the region which produced 71 Moz silver, 0.51 Moz gold, and 185 million lbs copper from 33.8 Mt mined between 1981 and 19942. The Blackwater Mine, located south of the Fox-Coconut Property, is currently being constructed by Artemis Gold to begin production on an M&I mineral resource of 11.7 Moz gold and 122.4 Moz of silver later this year3.



The Mystery Property is located northeast of Imperial Metal's Huckleberry Mine which produced over 1.0 billion lbs copper and associated molybdenum, silver, and gold from the 153 Mt mined between 1997 and 20164. Surrounding to the Huckleberry Mine, Surge Copper Corp. is advancing the Berg deposit (M&I 1,009 Mt containing 5.1 billion lbs of copper) and the Ox and Seel deposits (combined M&I 438.6 Mt containing 1.7 billion lbs of copper)5. Other explorers in the Mystery Property area include Vizsla Copper Corp., Equity Metals Corp., and Quartz Mountain Resources.

The 4,988 hectare Fox-Coconut Property (Figure 2) is underlain by Eocene Ootsa Lake volcanic rocks in the west where a topographic high exposes fractured and silicified rhyolite volcanics hosting quartz veins and breccias. The Fox Showing area was hand-trenched and channel sampled in 2014 with results up to 45.3 g/t Au and 7,342 g/t Ag over 1.0 m6 (Figure 3). The eastern portion of the Property is characterized as a complex assemblage of volcanic and sedimentary rocks which hosts several structurally controlled vein/dyke corridors hosting high-grade gold and silver and coincident base metals. The Coconut Showing area features a broad zone of propylitic alteration with more focused zones of quartz-barite+/-tourmaline, chlorite, magnetite related to northwest trending structures.

Riocanex was the first documented operator on the Fox-Coconut Property, collecting 2,369 soil samples west of Island Lake in 1983 to test a lake bottom sediment sample anomalous in Ag, Cu, Pb. Since 2011, the Property has been steadily explored by the team at Kootenay Resources, including the Kennedy family, resulting in the collection of 762 soil samples and 985 rock samples. The Fox Showing and immediate area recently received approval for a five year exploration permit allowing for up to 30 diamond drill sites and 30 trenches with associated exploration trails.

The 12,193 hectare Mystery Property is situated over the Shelford Hills, a circular uplifted volcanic block exposing Cretaceous Kasalka Group volcanic rocks intruded by a stock of porphyritic monzonite belonging to the Late Cretaceous Bulkley Plutonic Suite (Figure 4). The Bulkley Plutonic Suite hosts the calc-alkalic porphyry Cu-Mo mineralization at the nearby Huckleberry, Ox, and Seel deposits7.

Historic soil geochemical anomalies for copper, lead, zinc, silver associated with a coincident magnetic high were returned from work completed by previous operators such as Kennco Exploration (1970), BP-Selco (1980's), Canamax (1983), and Noranda Exploration (late 1980's). More recent airborne geophysical surveys were completed by Quartz Mountain Resources in 2012 and Copper Mountain Mining in 2017, but those did not control a key group of claims covering the central area hosting anomalous geochemistry at the time. In 2022, Kootenay Resources conducted a prospecting program collecting 89 rock samples to successfully verify historic results and also identified a brand new showing of breccia-hosted sulphide mineralization associated with a large pyrite±tourmaline alteration zone.

Field work planned to advance the Nechako Project in 2024 includes detailed geological and geochemical surveys with a possibility for advanced geophysical surveys to refine drill targets. Trenching is planned for the Fox Showing to further expose the 2014 hand trenches with the potential for drill testing shortly after.

John Mirko, President and CEO of Rokmaster, comments:

"Rokmaster is pleased to enter into this friendly option arrangement with Kootenay Resources to evaluate and advance the Fox-Coconut and Mystery properties. The northern Nechako Basin is home to many past producing deposits with associated infrastructure and is currently seeing a resurgence of development and exploration activity. Our technical team is experienced with the geology and mineralizing systems in this prolific district and eager to refine and test the multiple targets on the Fox-Coconut and Mystery properties."

Jim McDonald, President and CEO of Kootenay Resources, comments:

"The Kootenay team has worked hard over the years to build a highly prospective portfolio of exploration properties in this prolific yet under-explored region of British Columbia. We are excited to welcome the Rokmaster team onto Mystery and Coconut-Fox, both excellent early stage exploration projects. We look forward to watching the projects evolve as Rokmaster sets about their work."

The LOI outlines the terms to be set out in an option agreement (the "Option Agreement") for RKR to be granted an option to acquire a 60% in the Properties by:

Incurring $142,000 of exploration work on the Properties prior to September 18, 2024;
Commencing on the first anniversary date of the Option Agreement, issuing to KTR 500,000 common shares of RKR each year on or before each of the first, second, third and fourth anniversary dates of the Option Agreement; and
On or prior to the fourth anniversary date of the Option Agreement, RKR having completed a total of 10,000 metres of diamond drilling on any or all of the Properties.

Once Rokmaster has acquired the initial 60% interest, (the "Initial Interest"), KTR would grant RKR an exclusive option (the "Second Option") to acquire the remaining 40% interest in the Properties (the "Second Interest") by issuing an additional 5,000,000 common shares of RKR to KTR within 60 days of having acquired the Initial Interest.

Upon RKR acquiring the Second Interest, RKR would grant KTR a 1.5% net smelter returns royalty (the "Royalty") in respect of the Mystery and Coconut group of mining claims. The Fox group of mineral claims have an existing underlying 2% net smelter returns royalty (the "Underlying Royalty"), and KTR has the right to buy back the entirety of such Underlying Royalty at any time at a price of $500,000 per 0.5% (the "Buy Back Right"). Should KTR buy back the entirety of such Underlying Royalty within 90 days after the date of the commencement of commercial production on the Fox group of claims, then RKR would also grant KTR the Royalty on such claims. If KTR does not so exercise the Buy Back Right, then KTR would transfer it to RKR.

The LOI is subject to the execution by the parties of a definitive Option Agreement and receipt of all requisite regulatory approvals.

The scientific and technical information presented above has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Jim McDonald, P.Geo. President & CEO of Kootenay Resources Inc., who is independent of Rokmaster and who acts as the Qualified Person for the purpose of this news release. Mr. McDonald is not independent of Kootenay Resources.

On Behalf of the Board of Directors of

Rokmaster Resources Corp. Kootenay Resources Inc.
John Mirko, James McDonald,
President & Chief Executive Officer President & Chief Executive Officer.



Footnote 1: The information on the Endako Mine Complex is based on public disclosure by Centerra Gold Inc. included in its 2023 Annual Information Form dated March 28, 2024 and the resource estimate is dated as of December 31, 2023. The Endako Deposit is estimated to contain 47.1Mt at 0.05% Molybdenum in the Measured category and 122.2 Mt at 0.04% Molybdenum in the Indicated category. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 2: The information on the Equity Silver Mine is sourced from the British Columbia Minfile database (#093L 001). The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 3: The information on the Blackwater Deposit is based on public disclosure by Artemis Gold Inc. included in the Technical Report on 2024 Expansion Study on the Blackwater Gold Project with an effective date of February 21, 2024. The Blackwater Deposit is estimated to contain 8.9 Moz gold (0.65 g/t Au) and 75.8 Moz silver (5.5 g/t Ag) in 427 Mt in the Measured category and 2.8 Moz gold (0.56 g/t Au) and 46.6 Moz silver (8.5 g/t Ag) in 170 Mt in the Indicated category at a cut-off of 0.20 g/t AuEq. The effective date of the mineral resource estimate is May 5, 2020. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 4: The information on the Huckleberry Mine is sourced from the British Columbia Minfile database (#093E 037), which in turn is supported by Imperial Metals Annual Information Forms and Reports. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 5: The information on the Berg, Ox, and Seel deposits is sourced from public disclosure by Surge Copper Corp. included in the Technical Report and Preliminary Economic Assessment on the Berg Project with an effective date of June 12, 2023. The Berg Deposit is estimated to contain 230 Mlbs of copper in 34 Mt (0.31% Cu) in the Measured category and 4,859 Mlbs of copper in 976 Mt (0.23% Cu) in the Indicated category for all Zones at a C$8.50 NSR Cut-off. The Mineral Resource Estimate Update for the Seel and Ox Deposits – Ootsa Property with an effective date of February 18, 2022. The Seel and Ox Deposits are estimated to contain 597 Mlbs copper in 133.8 Mt (0.20% Cu) in the Measured category and 1,097 Mlbs copper in 304.8 Mt (0.16% Cu) in the Indicated category for both deposits combined at a CDN$8.27 NSR Cut-off. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Qualified Person has been unable to verify the information and the information is not necessarily indicative to the mineralization on the property that is the subject of this news release.

Footnote 6: Information sourced from BC assessment report #35437. Kennedy, S. 2015. Report on Rock Geochemistry and Geology on Fox mineral claims.

Footnote 7: Ogryzlo, P. L. 2021. Huckleberry: Cauldron subsidence in a continental magmatic arc. And Ebert, S. W. 2021. Geology and mineralization of the Seel and Ox deposits, Ootsa property, north-central British Columbia. In Sharman, L., Lang, J.T. and Chapman, J. eds., 2021. Porphyry deposits of the northwestern Cordillera of North America: A 25-year update. CIM.




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

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's or Kootenay Resources operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.

SOURCE Rokmaster Resources Corp.

For further information: please contact Mr. John Mirko, President & CEO of Rokmaster Resources Corp., jmirko @greenehugh or by website: www.rokmaster.com; For shareholder information please contact: Mike Kordysz, mkordysz @kronod 4; James McDonald, CEO and President of Kootenay Resources Inc. at [phone]; or visit: www.kootenayresources.com

[Lone Clone]

Finlay Minerals outlines seven priority targets for the Silver Hope Property

https://www.newswire.ca/news-releases/finlay-minerals-outlines-seven-priority-targets-for-the-silver-hope-property-883961495.html

Finlay Minerals Ltd. May 14, 2024, 08:30 ET

VANCOUVER, BC, May 14, 2024 /CNW/ - Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") has conducted a comprehensive review of its Silver Hope Property near Houston, BC. This comprehensive review, which included the analysis of 179 drill holes, previous surveys, and the 2023 ALS GoldSpot Prospectivity Report, has led to the identification of seven robust priority targets.

Priority Targets:










Finlay Minerals outlines seven priority targets for the Silver Hope Property (CNW Group/Finlay Minerals Ltd.)





The possible extensions of the Main Trend and West Cu-Mo Porphyry mineralized zones to the southwest.
Identification of the East Trend 1 and East Trend 2 targets, which have similar geochemical and geophysical signatures as the Main Trend.
The Zest target now includes the former Equity Silver Mine and extends on to the Silver Hope Property.
The Equity East target has surface geochemical and geophysical characteristics similar to the Zest showing and target.
The Dina East target has overlapping polymetallic vein and porphyry targets generated by ALS Goldspot and has had little to no exploration work.

Robert F. Brown, President & CEO of Finlay Minerals, states:

"Subject to financing, the company is planning to drill on the East Trend 1 and the copper-silver Main Trend. The East Trend 1 target has the potential to reveal shallow Main Trend mineralization. Additionally, drilling along the Main Trend will bridge gaps in past drilling, connecting mineralization along its 2.5 km length, further enhancing this significant target.

The Main Trend contains copper-silver mineralization that is located within fractures and breccias along a NNE trending structural corridor, which could be linked to a deep copper porphyry source. The Main Trend hosts a multi-geochemical soil anomaly with Ag, As, Au, Cd, Cu, Mo, Pb, Sb, Te, Zn, and W. Biogeochemical sampling in 2023 pinpointed a smaller target area within the Main Trend with elevated Ag, As, Au, Cu, Pb, Sb, and Zn; the mineralization is within a tuffaceous horizon of the Skeena Group.

The Main Trend is considered a bulk tonnage target as it hosts a significant portion of the Company's historical drilling, totaling 41,041 meters. Past drilling has resulted in notable intersections such as SH21-08, which had 133.0 meters of 0.30% Cu, 7.6 g/t Ag, and 0.03 g/t Au (Gaul Zone), SH11-12 with 111.5 meters of 0.16% Cu, 23.1 g/t Ag, and 0.29 g/t Au (Superstition Zone), and SH11-07, which had 282.0 meters of 0.23% Cu, 6.4 g/t Ag, and 0.01 g/t Au (Hope Zone)."

In the East Trend, both East Trend 1 ("ET1") and East Trend 2 ("ET2") have biogeochemical and soil Hg anomalies similar to those found in the Main Trend. The ET1 target is directly east of the Main Trend and could represent the faulted-off portion of the Main Trend and the Gaul and Superstition Zones. ET1 was identified as a target based on ALS GoldSpot targeting, high chargeability, low resistivity, and past drilling.

The ET2 target is roughly 1,000-1,500m east of the Main Trend and occurs along a NNE trend similar to the Main Trend and ET1.

The Zest Target is an important prospect due to previous drilling intersecting comparable mineralization styles of copper, silver, and gold, along with Skeena Group lithology, like that of the former Equity Silver Mine.

The Equity East target is north of the Zest target. ALS GoldSpot has identified this zone as having the potential for hosting Equity-style mineralization, high chargeability, and moderate resistivity.

The Dina East target is untested and has seen little to no exploration activity due to its previous heavily forested nature. Recent logging activity has opened the area, providing easier access with logging roads. ALS GoldSpot identified overlapping polymetallic and porphyry targets along a NNE trending structure similar to the Main Trend.

For further information, CLICK HERE to view the Silver Hope Technical Presentation.

Qualified Person:

Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About Finlay Minerals Ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with three properties in northern British Columbia:

The Silver Hope Property covers 213.11 km2 and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2km Cu-Ag-Au mineralized trend with mineralization starting at surface. West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC.

The ATTY Property covers 33.93 km2 of sub-alpine terrain in the southern Toodoggone region. The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Property and the joint-ventured Joy Property held by Amarc and Freeport-McMoRan. The ATTY's KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

The PIL Property, which covers 170 km2 in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. The property is in Year 3 of a 5-year option to Cascadia Minerals Ltd., on completion of which Cascadia would acquire a 70% interest in the PIL. Following the exercise of the option, Cascadia and Finlay would hold interests in the Property of 70% and 30%, respectively, and a joint venture would be formed.

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown, P. Eng.
President, CEO & Director

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

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Silver Hope Property. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions, including, among other things, assumptions regarding general business and financial conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE Finlay Minerals Ltd.

For further information: Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations & Director, Tel: [phone], [e-mail]

[Lone Clone]

New Gold Increases Exposure in New Afton Copper/Gold Mine to 80% and Launches US$150 Million Bought Deal Financing

https://ca.finance.yahoo.com/news/gold-increases-exposure-afton-copper-201400659.html

New Gold Inc.
Mon, May 13, 2024 at 1:14 p.m. PDT·9 min read

NGD.TO
+0.20%

NGD
+1.37%

(All dollar figures are in US dollars unless otherwise indicated)

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) is pleased to announce that it has entered into an agreement relating to its strategic partnership with Ontario Teachers’ Pension Plan (“Ontario Teachers’”) at the New Afton Mine (“New Afton”), whereby New Gold will increase its effective free cash flow interest in New Afton to 80.1% (the “Transaction”).

On closing of the Transaction, Ontario Teachers’ free cash flow interest in New Afton will be reduced from 46.0% to 19.9% in exchange for an upfront cash payment of $255 million from New Gold. New Gold will fund the cash payment with cash on hand, borrowings from its existing revolving credit facility and net proceeds from a concurrent bought deal equity financing of common shares of New Gold (“Common Shares”) for approximately $150 million.

Anticipated Benefits to New Gold Shareholders

Increased free cash flow interest in an attractive copper/gold mine – With C-Zone on-track to achieve commercial production in the second half of 2024, New Afton is expected to enter a period of significant free cash flow growth driven by increasing production and improved costs.

Accretive and disciplined transaction – Expected to deliver a meaningful increase in attributable life-of-mine cash flow while maintaining New Gold’s balance sheet strength and financial liquidity.

Investment in an existing high-quality operation – Through many years of building and operating the New Afton mine, New Gold has developed extensive technical, operational, and social knowledge and expertise. The Transaction provides growth without requiring any increase in general and administrative expenses.

Increased upside exposure – New Gold’s renewed focus on exploration activities provides the New Afton mine with the potential to add value by improving the production profile and extending mine life.

“This is an excellent transaction where we are able to increase our free cash flow exposure in a copper and gold asset which we already own and operate. This transaction is expected to allow us to grow accretively with no diligence risk and increase our free cash flow interest at New Afton,” stated Patrick Godin, President and CEO. “With key C-Zone milestones set for completion later this year, New Afton is on the verge of attractive production growth and cost improvement that we believe will lead to increased free cash flow generation. Our goal is not only to maximize this free cash flow generation at the mine, but to also maximize benefits for our shareholders.”

Bought Deal Equity Financing

New Gold has entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 87,300,000 Common Shares at a price of $1.72 per Common Share (the “Offering Price”), for aggregate gross proceeds of approximately $150 million (the “Offering”).

The Company has granted the Underwriters an over-allotment option, exercisable in whole or in part at any time at the Offering Price up to 30 days after closing of the Offering, to purchase up to an additional 15% of the number of Common Shares issued pursuant to the Offering to cover over-allotments, if any.

The Company intends to use the net proceeds of the Offering to fund a portion of the cash payment to complete the Transaction.

Closing of the Offering is expected to occur on or about May 17, 2024, subject to customary closing conditions, including the receipt of all necessary approvals of the Toronto Stock Exchange and the NYSE American in accordance with their applicable listing requirements.

The Offering will be made in each of the provinces and territories of Canada, other than Quebec, by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 13, 2024 (the “Base Shelf Prospectus”). The Company has filed a registration statement on Form F-10 (the “Registration Statement”) (including the Base Shelf Prospectus) and the Prospectus Supplement for the Offering with the U.S. Securities and Exchange Commission (the “SEC”) in accordance with the multi-jurisdictional disclosure system established between Canada and the United States. The Offering may also be made on a private placement basis in other international jurisdictions in reliance on applicable private placement exemptions. Before investing, prospective investors should read the Base Shelf Prospectus, the Prospectus Supplement, when available, the documents incorporated by reference therein, the Registration Statement containing such documents and other documents the Company has filed with Canadian securities regulators and the SEC for more complete information about the Company and the Offering.

When available, these documents may be accessed for free on the System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca and on the SEC’s Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”) at www.sec.gov. Alternatively, copies may be obtained from: CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at [e-mail], and in the United States from: CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at [e-mail].

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

Other terms of the Transaction

Closing of the Transaction is subject to customary conditions and is expected to close by the end of May, following completion of the Offering. The Transaction does not require shareholder approval.

At closing, the parties will enter into an amended free cash flow royalty agreement with an affiliate of Ontario Teachers’ to reflect the reduction in Ontario Teachers’ free cash flow interest to 19.9%. The amended agreement will, among other things, also remove the advisory committee, and reduce certain of Ontario Teachers’ governance rights with respect to the operating and capital expenditures of the New Afton mine and eliminate the option to convert the royalty into a partnership. New Gold will have a right of first refusal on a sale of the royalty by Ontario Teachers’. On a change of control of New Gold announced prior to December 31, 2030, that is subsequently completed, Ontario Teachers’ will have the right to sell the royalty to New Gold or its successor at fair market value, for cash or share consideration. In addition, following a change of control within 20 months following completion of the Transaction, Ontario Teachers’ would also receive a one-time cash payment of $20 million.

About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility.

For further information, please contact:



Ankit Shah

Brandon Throop

Executive Vice President, Strategy & Business Development

Director, Investor Relations

Direct: [phone]

Direct: [phone]

Email: [e-mail]

Email: [e-mail]



Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this news release, including any information relating to New Gold’s future financial or operating performance are “forward-looking”. All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, “intends”, “anticipates”, “projects”, “potential”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation of such terms. Forward-looking statements in this news release include, among others, statements with respect to: the Company’s ability to successfully complete the Transaction and the timing thereof, including receipt of all required regulatory approvals; the proposed benefits of the Transaction to the Company’s business, strategic objectives, financial condition, cash flows and results of operations and to its shareholders being attained, including with respect to increased free cash flow and the timing thereof; maintenance of balance sheet strength and financial liquidity, and expectation of entering into a period of cash flow driven by increased production and improved costs; the completion of the C-Zone project and the timing and expected benefits thereof; the ability of ongoing resource conversion to add value by improving the production profile and extending mine life with minimal capital investment; the maximization of benefits to New Gold shareholders; the completion of the Offering, including the receipt of TSX and NYSE American approval; and the intended use of net proceeds from the Offering.

All forward-looking statements in this news release are based on the opinions and estimates of management that, while considered reasonable as at the date of this news release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to important risk factors and uncertainties, many of which are beyond New Gold’s ability to control or predict. Certain material assumptions regarding such forward-looking statements are discussed in this news release, New Gold’s latest annual management’s discussion and analysis (“MD&A”), its most recent annual information form and technical reports on the Rainy River Mine and New Afton Mine filed on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. In addition to, and subject to, such assumptions discussed in more detail elsewhere, the forward-looking statements in this news release are also subject to there being no significant disruptions affecting New Gold’s operations, including material disruptions to the Company’s supply chain, workforce or otherwise.

Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation, the “Risk Factors” included in New Gold’s most recent annual information form, MD&A and other disclosure documents filed on and available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Forward looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

[Lone Clone]

Kutcho Copper Outlines Compelling Value Opportunities at Its High-Grade Copper-Zinc Project

Engineering Optimizations and Exploration Targets Could Significantly Enhance Project

https://www.newsfilecorp.com/release/209161

May 15, 2024 8:00 AM EDT | Source: Kutcho Copper Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2024) - Kutcho Copper Corp. (TSXV: KC) (OTCQX: KCCFF) ("Kutcho Copper" or the "Company") is pleased to provide a review of its accomplishments in 2023, outline its most compelling value opportunities, and looks forward to the next steps planned for 2024 at its feasibility stage, high-grade copper-zinc development project located in north-western British Columbia.

Vince Sorace, President & CEO of Kutcho Copper stated: "Kutcho Copper finished 2023 with several fundamental accomplishments, and we anticipate that 2024 will be another year of progress for the Company. We are uniquely positioned with a feasibility-stage, high-grade, low-cost copper-zinc development project located in a Tier 1 jurisdiction that has potential for significant exploration upside. With Canada now focusing on critical minerals (including copper and zinc), copper prices firmly above U$4.00/lb (enhancing the project's potential economic performance), and copper supply struggling to keep up with increasing demand for electrification and decarbonization, we will continue to explore and expand on opportunities for the Kutcho project on our path towards a construction decision."

Corporate/Project highlights:

Feasibility study(2) showcasing a mine plan for a predominantly open-pit mining operation and a technically robust and capital-efficient project with a minimized footprint:
At US$3.50/lb for copper (base case), an after-tax Net Present Value (NPV 7%) of C$384 million and an Internal Rate of Return of 24.2%:
At US$4.00/lb for copper, an after-tax Net Present Value (NPV 7%) of C$536 million and an Internal Rate of Return of 30.5%:
At US$4.50/lb for copper, an after-tax Net Present Value (NPV 7%) of C$688 million and an Internal Rate of Return of 36.5%.
At US$5.00/lb for copper, an after-tax Net Present Value (NPV 7%) of C$839 million and an Internal Rate of Return of 42.3%.
Located in northwestern British Columbia, Canada, one of the safest mining jurisdictions globally with producing mines in the region including Brucejack (Newmont Mining) and Red Chris (Newmont/Imperial Metals) as well as several advanced projects.(1)
Strong financial support — Wheaton Precious Metals with an agreed precious metals stream in support of mine development and a strategic shareholding.
Existing infrastructure — on-site field camp and airstrip; 120 km of ground access to be upgraded to a haul road for concentrate transport; existing concentrate export facilities within 400 km on a paved highway.
The location has subdued terrain and relatively lower snowfall compared to mines and projects to the west, reducing construction and operating challenges.
Project designed to minimize, mitigate, and avoid environmental impacts, including minimising greenhouse gas emissions, backfilling the open pit, avoidance of fish-bearing streams, and treatment of contact mine water, among others.
Defined Permitting Process — a transparent and prescribed British Columbia Environmental Assessment process, supportive First Nations, local stakeholders and Government.
Exploration upside potential — including the potential to convert existing inferred mineral resources to indicated, potential expansion of the deposit beyond the limits of the current mineral resource, a compelling target immediately to the west of the Esso deposit, and identified blue-sky greenfields/regional exploration potential(3) within Kutcho's mineral claims.

Significant Milestones Achieved in 2023 Include:

Since completion of the 2021 Feasibility Study ("FS"), Kutcho Copper has been attending to improvement recommendations and risk reduction studies documented in the FS. Kutcho Copper is pleased to report a number of milestones from its optimization program, including:

Initial Capital Reduction

Kutcho Copper has completed an underground mining study to confirm that the underground mining portion of the mine plan can be deferred, compared to the FS plan, with almost no impact on NPV, IRR or payback. The new plan will have the underground operation commence in the first year of operation (as opposed to commencing at start of construction in the 2021 FS) and will operate at 930 tpd compared to the previous plan of 840 tpd. The benefit of this deferral would be to decrease the initial capital by approximately $57 million and to reduce operational startup complexity (note all data presented is based on the 2021 cost and price basis for fair comparison).

Metallurgical and Flotation Flowsheet Optimization and Improvements

Kutcho Copper, in partnership with PMC Laboratory (Maple Ridge, BC), has made significant progress in optimizing the flotation flowsheet that will enhance the economic efficiency of the feasibility flowsheet. This optimized flowsheet significantly reduces both the number and overall quantity of reagents required, which not only has the potential to lower operating costs but also further reduces environmental management costs and risks through having less quantity of residual reagents in the recycled process water and lower cost to purchase and transport of reagents.

The optimized rougher flowsheet employs conventional techniques to produce two distinct rougher copper concentrates. Each concentrate will be further refined using dedicated regrind circuits, specifically designed to achieve the optimal grind size required by each concentrate. This has the potential to reduce the overall regrinding requirements for the Kutcho ore. This tailored approach aims to ensure that our products meet the specifications of the global market while maintaining the high recovery rates established in our FS. The flowsheet incorporates sequential flotation, a method used at numerous other copper-zinc deposits treating massive sulphide ores, similar to those found at deposits like Prieska in South Africa and Lahanos in Turkey.

As we continue to finalize the cleaning circuit, preliminary results from the rougher flowsheet have already demonstrated recoveries on par with those outlined in the 2021 FS. This milestone marks a significant achievement in our strategy to optimize our mineral processing operations. We look forward to sharing more updates as we progress with the development of the cleaning circuit and move closer to realizing the full potential of our optimized flotation process.

Advancing Mine Closure Details

Kutcho Copper continues to advance and refine its understanding of the closure requirements for each of the materials expected to be produced at Kutcho. Comprehensive acid rock drainage ("ARD") testing of overburden materials recently confirmed that it is not potentially acid generating ("NPAG"), which simplifies infrastructure construction decisions. Further, confirmatory static testing of pit waste initiated in 2022 was concluded, helping to refine the mine materials placement schedule and adding more confidence to the materials management process.

Exploration Update

Alongside advances in engineering studies, the Kutcho Copper Project also hosts a number of compelling exploration targets generated from an initial round of remote sensing geophysical surveys and target reviews. An initial program is planned to (a) test two targets (Esso West and Mother) with 4,100 m of drilling and (b) collect soil and rock samples and other field geologic data on other, less advanced targets to better evaluate and prioritize their potential to host new deposits. Volcanogenic massive sulphide ("VMS") mineralizing systems like Kutcho commonly host multiple deposits, and Kutcho already hosts three — Main, Sumac and Esso. Advanced targeting methods are being employed to refine the initial targeting prior to the next field season and Kutcho Copper plans to release further information on that process in the coming weeks.



Figure 1: Overall Exploration Target Isometric View

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3735/209161_3bad80f784400b05_002full.jpg

Esso West Target

The Esso West target covers an area of 1,900 m strike by 500 m down dip and is defined by coincident ZTEM, VTEM, magnetic, and seismic anomalies that lie along strike and to the west of the high-grade Esso deposit. The target is bracketed by a total of five historic drillholes that intercepted a combination of (a) moderately to strongly sericite — pyrite altered quartz — crystals tuffs that correlate to the immediate hanging wall rocks to the Main, Sumac, and Esso deposits and (b) sericite — pyrite altered lapilli tuffs, which are indicative of the foot wall sequence below the three known deposits. However, none of these holes directly tested the Esso West target. In addition, a fence of historical drillholes that were testing for the west extension of Esso mineralization intersected the interpreted down dip eastern margin of the target and intersected semi-massive and massive sulphides in several holes, including 7.2m @ 2.0% Cu and 5.2% Zn in E094B3. Given that Esso is the highest grade of the three current deposits, the proximity of Esso West makes it a key focus of planned drill testing during 2024.



Figure 2: Esso West Target Plan View

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3735/209161_3bad80f784400b05_003full.jpg



Figure 3: Esso West Target Morphology Isometric View*

*See news release dated February 11, 2021 for details of the Esso mineral resource estimate ("MRE"), including important required disclosures under National Instrument 43-101, as well assumptions, qualifications and exclusions used in preparing the MRE, cautionary language in respect of the inferred mineral resources and details of the Qualified Person responsible for the MRE. Additional information can be found in the Feasibility Study Technical Report dated effective November 8, 2021, which is intended to be read in its entirety.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3735/209161_kutchofig3.jpg

Mother Target

Mother is a 7.5 km long, partially coincident ZTEM and VTEM target. A total of four historical drill holes have tested portions of the target and define a prospective geological environment for a potential VMS deposit(s). Two historical holes anchored on the western extents of the target intersected an interpreted felsic flow dome consisting of a combination of sericite altered quartz, quartz — feldspar and lapilli felsic tuffs, similar to the setting of the Main, Sumac, and Esso deposits. Silica exhalates with jasperoid development, and bands of magnetite and semi massive to massive sulphides occur between felsic units. These exhalates returned surface rock chip samples that ranged from 2.3% to greater than 10% Cu, 0.04% - 0.10% Zn, 15 g/t — 69 g/t Ag and 0.3 g/t — 6.2 g/t Au over widths of 2.5 to 5cm. Two drillholes located 2 km and 5 km to the east of these holes intersected more distal felsic tuffaceous volcanic rocks and mudstones. The 2 km target segment between the felsic dome and distal basin mudstones is a prime environment for hosting potential VMS-style mineralization. A preliminary ground-based geologic and sampling program is planned for 2024, prior to drill testing the target.



Figure 4: Mother exploration target

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3735/209161_3bad80f784400b05_005full.jpg

Looking ahead into 2024:

Kutcho Copper intends to showcase the Project's upside potential through:

Advancing both near-resource and greenfields (3) exploration targets.
Evaluating and, if warranted, executing on a number of accretive and strategic opportunities.
Continuing to evaluate project opportunities identified in the Feasibility Study through detailed engineering and executing on, or incorporating, accretive opportunities.
Continuing to de-risk and advance the Project towards a production decision.

Qualified Persons

The technical or scientific information in this press release has been reviewed and approved by Andrew Sharp, P.Eng BC (Lic. No. 47907), FAusIMM, Chief Operating Officer for Kutcho Copper, who serves as a qualified person under the definition of National Instrument 43-101.

About Kutcho Copper

Kutcho Copper Corp. is a Canadian resource development company focused on expanding and developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social responsibility and the highest environmental standards, the Company recently completed a feasibility study on the Kutcho project and is advancing permitting with the objective of getting to a positive construction decision.

Vince Sorace
President & CEO, Kutcho Copper Corp.

For further information regarding Kutcho Copper Corp., please email [e-mail] or visit our website at www.kutcho.ca.

Technical Disclosure

The material scientific and technical information in respect of the Kutcho Project in this news release is, unless otherwise indicated, based upon information contained in the technical report titled "NI 43-101 Feasibility Study Technical Report for the Kutcho Copper Project, British Columbia, Canada" dated effective November 8, 2021 and issued December 22, 2021 (the "FS" or "2021 Feasibility Study"). The 2021 Feasibility Study was prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the mining property disclosure rules specified in Subpart 1300 of Regulation S-K under the United States Securities Act of 1933 ("Subpart 1300") promulgated by the SEC. Accordingly, information concerning mineral deposits from the 2021 Feasibility Study set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Cautionary Note Regarding Forward-Looking Statements

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 contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "advance", "de-risk", "execute", "incorporate", "accretive", "plans", "compelling", "believes", "intends", "potential", "value opportunities", "upside", variations of these words and similar expressions, or that events or conditions "will", "may", "could", "should" or "would" occur. Although Kutcho Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, statements and information related to the Feasibility Study; the funding, timing and results of planned exploration programs; the ability of the Company to upgrade inferred mineral resources to higher categories and, subsequently, to mineral reserves; the outcome of potential optimizations and opportunities identified in the Feasibility Study and subsequently; the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho project and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects, including the environmental assessment process; the ability of the Company to conclude agreements with First Nations; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

(1) Reference to nearby producing mines and projects is for information purposes only, and there are no assurances that the Kutcho Project will receive similar results or that it will become an operating mine.

(2) Based on the 2021 Feasibility Study (FS) and incorporation of the amended Wheaton Precious Metals streaming arrangement. The FS is intended to be read as a whole and sections should not be read or relied upon out of context. The information in this news release is subject to the assumptions, exclusions and qualifications contained in the FS. See "Cautionary Note" at the end of this news release.

(3) The blue-sky greenfields and regional exploration potential are considered early-stage exploration projects which do not contain any mineral resources as defined by NI 43-101. There has been insufficient exploration to define a mineral resource for the targets disclosed. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.

SOURCE: Kutcho Copper Corp.

[Lone Clone]

Omineca Begins Placer Gold Recovery at Wingdam

https://www.newswire.ca/news-releases/omineca-begins-placer-gold-recovery-at-wingdam-858469224.html

Omineca Mining and Metals Ltd May 09, 2024, 05:30 ET

SASKATOON, SK, May 9, 2024 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (OTCBB: OMMSF) ("Omineca" or the "Company") is pleased to report that recovery and processing of gold bearing gravels has begun at the Wingdam Paleoplacer project located in the Cariboo Mining District in south central British Columbia. 10.25 ounces of placer gold with 90.9% Au purity (909 fineness) was recovered from the first ~2.5 meters of advance at the bedrock contact of the paleochannel in Crosscut #3. The initial thickness of the gravels exposed in the face overlying bedrock was approximately 0.5 - 1.0 meters which is expected to increase in thickness as the bedrock rim dips toward the center of the channel floor. These initial recoveries are still in large part at the bedrock interface and are comparable with recoveries in the similar peripheral area of the channel at the 2012 bulk sample ("Crosscut #1") location. Additional updates will be provided once the miners reach the anticipated highest gold grades across the central portion of the channel.

Omineca's joint venture partner, D&L Mining, has extended the haulage/access drift in bedrock approximately 70 meters downstream of the 2012 Crosscut #1 location with a slight downward slope to intersect the lower portions of the paleochannel floor. Crosscut #3 is being driven from the haulage/access drift approximately 30 meters downstream from Crosscut #1. In accordance with the engineered mine plan, D&L is implementing artificial ground support which includes a series of spilings (metal rods) encased in grout, which are being placed above the area to be mined within the paleochannel. Crosscut #3 is a 3.5 meter x 3.5 meter excavation that will span the entire width of the channel.

A second new crosscut heading, #4 has been driven from the haulage/access drift a further 20 meters downstream and is now near the bedrock/paleochannel contact ready for development in tandem with Crosscut #3. Once both crosscuts have reached the center of the paleochannel, mining activities will be initiated both up and downstream from each crosscut within the channel. In this type of paleochannel setting, the largest amount of placer gold tends to be in the lower points of the central portion of the paleochannel where through natural waterborne gravity sorting, the highest concentrations of heavier materials, like gold, settle. This feature was noted in the bulk sample crosscut where of the 173 ounces recovered from a 23.5 meter crosscut, approximately 75% of that amount was produced from a 5.5 meter section in the middle of the channel.

All material excavated from the contact forward is being run through the wash plant consisting of a simple trommel/sluice system with the concentrate this produces run over a shaker table in the assay lab for final gold recovery. Some important observations are as follows:

The gravel bearing paleochannel has been thoroughly dewatered.
The gravels and cobble within the paleochannel are dry with no visible flowing water.
The grouted spiling ground support above the excavation area is proving effective.
Initial material recovered from the channel contact consisting largely of bedrock, and some gravels higher up from the floor, has yielded over 10 ounces of placer gold from the first 2.5 meters of advance.
Recoveries of gold from the initial rounds in this crosscut are comparable with those noted at this phase of the upstream 2012 bulk sample crosscut.
Of special note, and consistent with the results of the initial bulk sample crosscut, the easily recovered gold is all very coarse (nuggety) with very little fine gold particles (<1.0 mm dia.) and exhibits characteristics of very low transport distance from lode source – estimated at less than 1 kilometer.
The price of gold in Canadian dollars has nearly doubled since the Wingdam Joint Venture was initiated for this operation.

Management notes that although the project has experienced substantial delays, the price of gold is now significantly higher than when activities at Wingdam were reinitiated. The immediacy of recovering and processing gold from the paleochannel has the Company delivering gold ounces into an extraordinarily strong market price. Omineca is grateful to D&L Mining and its very capable staff for achieving this milestone with professionalism and attention to detail.


Qualified Person
All scientific and technical information in this news release has been prepared by, or approved by Stephen Kocsis, P.Geo., Lead Geologist. Mr. Kocsis is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.


About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd.'s flagship Wingdam gold exploration and placer recovery projects are located along the Barkerville Highway 45 km east of the City of Quesnel. The Wingdam Property includes mineral tenures totaling over 61,392 hectares (613 square kms) and in excess of 15 linear kilometers of placer claims, both encompassing the Lightning Creek valley where topographic conditions created thick layers of overburden, which preserved a large portion of a buried paleochannel containing placer gold-bearing gravels. Omineca also has an exploration and diamond drill program currently underway exploring for the potential multiple hard rock sources of the placer gold at Wingdam.


Forward Looking Statements
This release includes forward-looking statements regarding Omineca and its business. Such statements are based on the current expectations and views of future events of Omineca's management. In some cases, the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the failure to secure TSX Venture Exchange of the grant of options and many other factors beyond the control of Omineca. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Forward-looking statements speak only as of the date on which they are made and Omineca undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

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

SOURCE Omineca Mining and Metals Ltd

For further information: please contact: Tom MacNeill, President and CEO, 306-653-2692

[Lone Clone]

Ascot Reports First Quarter 2024 Results

https://ca.finance.yahoo.com/news/ascot-reports-first-quarter-2024-211700432.html

Ascot Resources Ltd.
Mon, May 13, 2024 at 2:17 p.m. PDT·16 min read

AOTVF
+3.85%

VANCOUVER, British Columbia, May 13, 2024 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the Company’s unaudited financial results for the three months ended March 31, 2024 (“Q1 2024”), and also to provide a construction update on the Company’s Premier Gold Project (“PGP” or the “project”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three months ended March 31, 2024, please see the Company’s filings on SEDAR+ (www.sedarplus.ca).

All amounts herein are reported in $000s of Canadian dollars (“C$”) unless otherwise specified.

Q1 2024 AND RECENT HIGHLIGHTS

On May 7, 2024, the Company announced a $5,000 non-brokered flow through private placement (the “Offering”), the proceeds of which will be used to fund the 2024 exploration program at the PGP. The Offering will consist of 6,024,096 common shares of the Company, which qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the “FT Shares”), at a price of $0.83 per FT Share. The closing of the Offering is expected to occur in one or more tranches in or around late-May to mid-June 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the Toronto Stock Exchange.

Rock was introduced into the grinding circuit of the mill on March 31, 2024, and first gold-bearing ore was introduced to the mills on April 5, 2024. On April 20, 2024, first gold was poured as a part of the commissioning process. Commissioning of the processing plant at PGP is ongoing, with commercial production anticipated in Q3 2024. Two gold pours have been completed using gold recovered from the gravity circuit. Another pour from gold recovered from the carbon-in-leach (“CIL”) circuit is anticipated imminently.

On February 20, 2024, the Company closed its previously announced financing package for a total of US$50 million from Sprott Resource Streaming and Royalty Corp. and its affiliates (“SRSR”) and Nebari Credit Fund II, LP (“Nebari Credit Fund II”), as described in the Company’s news release dated January 22, 2024. $13,700 of the above proceeds were used to buy back two existing 5% NSR royalties on various PGP property claims on March 15, 2024.

On February 20, 2024, concurrently with the above-noted financing package, the Company closed its previously announced bought deal private placement financing, under which the Company issued a total of 65,343,000 common shares of the Company (the “Common Shares”) at a price of $0.44 per Common Share, for gross proceeds of $28,751.

At the end of Q1 2024, overall construction excluding mine development was 98% complete compared with 86% complete at the end of 2023. A few remaining commissioning activities in the mill are underway. The tailing storage facility was completed and signed off by the engineer of record at the end of March 2024.

The new water treatment plant began operations in February 2024. The high-density sludge plant has been successfully commissioned and water is being treated and discharged into the environment. The moving bed bio-reactor (“MBBR”) is complete and media have been loaded into the tanks.

As of April 30, 2024, underground development totaled approximately 2,710 metres at Big Missouri and 150 metres at Premier.

DEVELOPMENT OF THE PROJECT

Project financing
On February 20, 2024, the Company closed a bought deal private placement for gross proceeds of $28,751 and a financing package of US$50 million for the completion and ramp-up of PGP. The financing package consisted of a royalty restructuring and a cost overrun facility.

Construction progress key performance indicators
At the end of Q1 2024, overall construction was 98% complete, compared with 86% complete at the end of Q4 2023. With first gold having been poured on April 20, 2024 via gold recovered through the gravity circuit, the project construction is 100% complete on schedule and on the most recently provided budget of approximately C$339 million. Commissioning and ramp-up activities in the processing plant and in the mine continue towards achieving commercial production in Q3 of 2024.

Safety
The Project had no lost time injuries in Q1 2024. There was an increase in recordable injuries at the end of the quarter which in part, can be attributable to seasonal changes and the transition from construction to operations. As the Project continues its transition from construction into operations, focus has been placed on the ongoing development of standard operating procedures, in field job hazard analysis and worker training. There was a small increase in property damage reported in the quarter due in part to weather conditions and the onboarding of a significant number of new workers to the site. The re-enforcement of reporting to the operating team remains a key focus to ensure that all learnings are identified and applied to prevent re-occurrence and reflect in the future training plans. In Q2 2024, significant work will be placed to support the operational teams to begin to operate the newly constructed plant through the final stages of C4 and C5 commissioning.

Processing plant and site infrastructure
Mechanical and electrical work in the mill was substantially completed in Q1 2024 with minor associated systems and punch list items to complete. Focus has shifted to commissioning the process plant and ramp up as well as completing minor deficiencies.

Stage one of the tailings storage facility (“TSF”) raise was completed and accepted by the Engineer of Record for use. Earthworks activities in 2024 will focus on raising the spillway dam by three metres, producing material for the 2025 raise and advanced work on the Cascade Creek Diversion in preparation for the 2025 works and final completion of the diversion.

The new water treatment plant was substantially mechanically and electrically completed in Q4 2023 with some minor areas remaining. The high-density sludge circuit was commissioned in Q1 2024 and is advancing towards full ramp up. The MBBR circuit was substantially complete in Q1 2024 and will begin full commissioning as the process plant continues to deposit tailings into the TSF and feed nitrogen species into the MBBR circuit.

The site power reticulation was completed in Q1 2024. Sustaining capital works in 2024 will focus on reticulation to the Premier portal as well as the Big Missouri portal.

Mine development
Procon Mining & Tunnelling (“Procon”) a mine contractor with extensive experience in BC and the Golden Triangle continued to advance mine development at two portal areas: S1 about 9 kilometres north of the mill which accesses the Big Missouri and Silver Coin deposits, and the mill adjacent Premier Northern Light (“PNL”) portal which accesses the Premier and Northern Light orebodies. As of the end of Q1 2024, Procon had about 57 people on site, 40 of whom were miners and 10 were maintenance personnel.

At Big Missouri, Procon advanced development into several ore headings in the A zone, as well as reactivating the S1 ramp heading that goes to Silver Coin deposit. In Q1 Procon developed 936 metres at Big Missouri (258 metres in ore and 678 metres in waste, and by April 29, 2024, development advanced to 905 metres in waste and 507 metres in ore total in 2024. Including the development completed in late 2022 and late 2023, the total development to date is approximately 2,710 metres in both ore and waste. Productivities at Big Missouri have continued to improve, with availability of key equipment such as Maclean bolters being made a priority.

During Q1 2024, the geological team continued to encounter high grade material occurrences in both face sampling and probe hole drilling in multiple areas of the A zone. As previously reported, these occurrences are in or very near existing wireframes or logical extensions of wireframes. At the end of March 31, 2024, a total of approximately 30,000 tonnes of ore was mined from Big Missouri and stockpiled at Diego pit.

At PNL, Procon dealt with issues related to near surface structure and weak ground. These issues seem to have abated at the end of April, and Procon has started to make better progress as they move into the better ground conditions expected at Premier given what was seen historically. In Q1 2024 approximately 85 metres were advanced at PNL, and at the end of April this increased to approximately 150 metres as ground conditions improved.

Mining development is being advanced down into the Premier deposit for initial mining in the Prew Zone, with ore development now anticipated to begin in early Q3 2024, and initial longhole stope production following later in Q3 2024. The ramp has been strategically laid out to allow for underground drilling on the Sebakwe Zone in 2024 and will eventually connect a footwall ramp over to the 602 area at the southern end of the Premier deposit. Although progress has been slow, the quality of the resultant work with ground control and shotcrete arches has been excellent, allowing for a secure and stable ramp for the life-of-mine production to come from this area approximately 350 metres from the Premier Mill.

Recruitment
At the end of Q1 2024, total site recruitment has reached approximately 90% of the planned operational team. A key achievement was the successful recruitment for some challenging roles pertaining particularly to some of the maintenance roles, health and safety (specifically, mine rescue), and technical roles for the mine and processing area. Policies and procedures development have been ongoing throughout Q1 2024 and key documents will be rolled out in Q2 2024.

Permitting and Environmental Compliance
A Joint Permit Amendment Application (“JPAA”) was required to be re-aligned with the project completion dates and was submitted in October 2023. The JPAA underwent first round comments through February 2024 and second round comments were received in late April 2024, with our responses anticipated to be submitted in May 2024.

The air permit was received on March 25, 2024. The updated environmental permit PE-8044, including the sewage treatment facility discharge permit is anticipated to be received in late May 2024.

2024 EXPLORATION PROGRAM

Planning for the 2024 exploration program is in full swing with an anticipated start date in late June. There are several areas on the properties that will be targeted by new drilling. Near the Premier mill, several drill holes have been planned around the Prew and Sebakwe zones of the Premier deposit. The new holes will complement the existing drill pattern at Prew and test induced polarization geophysical anomalies from last year’s survey.

Additional drill holes have been planned for the Big Missouri deposit where underground development is rapidly providing access to different parts of the deposit. The new holes will be designed for resource conversion and mine plan addition at this deposit. Specific new drill targets have been identified at the Day Zone on the western edge of the deposit, where geophysical anomalies seem to outline previously untested mineralization along strike of known ore zones.

Additional exploration drill holes are targeting a large geophysical anomaly to the west of the Dilworth deposit that extends surface showings to the north onto Ascot’s PGP property. This target has a large strike extent and may require drilling over more than one exploration season.

The Company anticipates a drill program of between 15,000 and 20,000 metres distributed over the areas described above. The program will require utilization of two drill rigs into late September or early October 2024.

FINANCIAL RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2024

The Company reported a net loss of $6,208 for Q1 2024 compared to $7,589 for Q1 2023. The lower net loss for the current period is primarily attributable to a $2,170 decrease in the loss on extinguishment of debt and a $1,196 decrease in financing costs, partially offset by increases in other expense categories.

LIQUIDITY AND CAPITAL RESOURCES

As at March 31, 2024, the Company had cash & cash equivalents of $47,028 and working capital deficiency of $33,030. The working capital deficiency is caused by an estimated $23,024 as the current portion of the deferred revenue only to be settled with future production from the Project and the $25,180 value of the Convertible facility, which is classified as current due to the lender’s right to exercise the conversion option at any time at a variable exercise price. Excluding these non-cash current liabilities, working capital was $15,174. In Q1 2024, the Company issued 67,807,135 common shares, 10,164,528 warrants, and granted 110,000 stock options and 28,667 Deferred Share Units. Also, 100,766 stock options expired or were forfeited, 24,427 Restricted Share Units were forfeited, and 99,039 stock options, 137,533 Deferred Share Units and 158,726 Restricted Share Units were exercised in Q1 2024.

MANAGEMENT’S OUTLOOK FOR 2024

In 2024, the Company will transition from the construction of the mine and related infrastructure to the operation of the entire site and becoming a gold producer. Despite the challenges associated with this transition, there are many opportunities for the Company to grow and create value.

The key activities and priorities for 2024 include:

Making health and safety a priority in the commencement of operations

Completing the commissioning of the process plant

Completing the access ramp and starting the mine production at the Premier deposit

Continuing to expand the mine production and development at the Big Missouri deposit

Shipping and selling of gold doré

Advancing the exploration and infill drilling program on the numerous opportunities to increase resources

Compliance with the environmental requirements of the site and making sure water treatment and the tailings management facility operate as designed

Successfully transition from a mine developer to a mine operator

Qualified Person

John Kiernan, P.Eng., Chief Operating Officer of the Company is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.

On behalf of the Board of Directors of Ascot Resources Ltd.
“Derek C. White”
President & CEO, and Director

For further information contact:

David Stewart, P.Eng.
VP, Corporate Development & Shareholder Communications
[e-mail]
778-725-1060 ext. 1024

About Ascot Resources Ltd.

Ascot is a Canadian mining company focused on commissioning its 100%-owned Premier Gold Mine, which poured first gold in April 2024 and is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. Concurrent with commissioning Premier towards commercial production anticipated in Q3 of 2024, the Company continues to explore its properties for additional high-grade gold mineralization. Ascot’s corporate office is in Vancouver, and its shares trade on the TSX under the ticker AOT and on the OTCQX under the ticker AOTVF. Ascot is committed to the safe and responsible operation of the Premier Gold Mine in collaboration with Nisga’a Nation and the local communities of Stewart, BC and Hyder, Alaska.

For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeted", "outlook", "on track" and "intend" and statements that an event or result "may", "will", "should", "could", “would” or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the terms of the Offering, the closing of the Offering, the advancement and development of the PGP and the timing related thereto, the completion of the PGP mine, the production of gold and management’s outlook for the remainder of 2024 and beyond. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks associated with entering into definitive agreements for the transactions described herein; fulfilling the conditions to closing of the transactions described herein, including the receipt of TSX approvals; the business of Ascot; risks related to exploration and potential development of Ascot's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of Ascot’s properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR+ at www.sedarplus.ca including the Annual Information Form of the Company dated March 25, 2024 in the section entitled "Risk Factors". Forward-looking statements are based on assumptions made with regard to: the estimated costs associated with construction of the Project; the timing of the anticipated start of production at the Project; the ability to maintain throughput and production levels at the PGP mill; the tax rate applicable to the Company; future commodity prices; the grade of mineral resources and mineral reserves; the ability of the Company to convert inferred mineral resources to other categories; the ability of the Company to reduce mining dilution; the ability to reduce capital costs; and exploration plans. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Ascot can give no assurance that such expectations will prove to be correct. Ascot does not undertake any obligation to update forward-looking statements, other than as required by applicable laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

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Golden Cariboo Resources Announces Start of Field Mapping Activities on the Quesnelle Gold Quartz Project

https://thenewswire.com/press-releases/1BKRF8oM7-golden-cariboo-resources-announces-start-of-field-mapping-activities-on-the-quesnelle-gold-quartz-project.html

May 14, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (“GCC” or the “Company”) (CSE-GCC, OTC-GCCFF, WKN-A0RLEP) is pleased to announce it has mobilized field crews to map and prospect along the north-northwesterly trend of mineralized showings (MinFiles) on its Quesnelle Quartz Mine property. The trend of MinFiles extends at least 1.9 km through the Property and contains the historic Quesnelle Quartz and Pioneer Mines. Previous work by Golden Cariboo geologists has highlighted potential along this trend in the Halo zone which yielded surface results of up to 5.08 g/t Au from representative grab samples of rock, as well as the North Hixon zone with surface results of up to 9.87 g/t Au from float as reported in Company’s News Release dated May 18, 2023. The North Hixon zone is actively being drill tested in hole QGQ24-08.

Objectives of the field program are to expand upon the limited surface work in these areas, and to traverse beyond them to potentially identify further greenstone contacts and mineralization. Additionally, this will be the first program of this nature since the Company completed a property-wide LiDAR survey in 2018, which can assist in identifying bedrock exposure within glaciated terrain.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.

Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s.

For further information please contact:

GOLDEN CARIBOO RESOURCES LTD

“J. Frank Callaghan”

J. Frank Callaghan, President & CEO

Tel: [phone]







VISIT OUR WEBSITE FOR MORE DETAILS

www.goldencariboo.com



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Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements:

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. 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. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.

The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Talisker Signs Ore Hauling Agreement for Bralorne Gold Project

https://ca.finance.yahoo.com/news/talisker-signs-ore-hauling-agreement-110000570.html

Talisker Resources Ltd.
Mon, May 13, 2024 at 4:00 a.m. PDT·4 min read

TSKFF
+1.24%

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. (“Talisker” or the “Company”) (TSX: TSK, OTCQX: TSKFF) is pleased to announce that the Company, through its 100% owned subsidiary Bralorne Gold Mines Ltd. (“Bralorne”), has signed an Ore Hauling Agreement (the “Ore Hauling Agreement”) with Stromsten Enterprises in partnership with Bridge River Management Corporation to transport material from its 100% owned Mustang Mine at the Bralorne Gold Project located in British Columbia. Under the Ore Hauling Agreement, gold ore will be trucked to either of the New Afton (owned by New Gold Inc.) or Craigmont (owned by Nicola Mining inc.) milling facilities to be processed in conjunction with the previously announced ore purchase and milling agreements (see press releases of March 12 and April 9, 2024). Talisker is initiating the Ore Hauling Agreement with the transportation of previously stockpiled material comprising approximately 6,300 tonnes to be processed at the Craigmont milling facility. The first shipment is expected to occur on May 15th.

Terry Harbort, Talisker’s President, and CEO commented, “This Ore Hauling Agreement is a critical part of our operations and the partnership between Stromsten Enterprises and Bridge River Management Corporation, a wholly owned economic development corporation of the Bridge River Indian Band (Xwisten), provides for a direct participation of Bridge River Management in the Bralorne operations of Talisker. This Ore Hauling Agreement underscores Talisker’s commitment to building positive working relationships with Indigenous communities in the areas in which we work.”

Steve Hughes, CEO Bridge River Management LP commented, “By having Xwisten people drive the trucks for ore hauling, this initiative not only supports capacity building within the community but also creates a pathway for future opportunities and sustainable development. It’s encouraging to see partnerships like this that prioritize community involvement and empowerment.”

For further information, please contact:

Terry Harbort
President and CEO
[e-mail]
[phone]

Matt Filgate
Vice President, Corporate Development
[e-mail]
[phone]






About Talisker Resources Ltd.

Talisker (taliskerresources.com) is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker’s flagship asset is the high-grade, fully permitted Bralorne Gold Project where the Company is currently transitioning into underground production at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt, and several other early-stage Greenfields projects.

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker’s current belief or assumptions as to the outcome and timing of such future events. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.

The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated 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 laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.