ROUYN-NORANDA, Quebec, May 26, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has received notice from Electric Royalties Ltd. (ELEC-TSXV) that it has entered into a revised letter of intent (LOI) with Sprott Resource Streaming and Royalty (Sprott) regarding Electric Royalties’ and Sprott’s engagement to purchase Globex’s Mid-Tennessee zinc royalty. In order to facilitate completion of the purchase, Globex has agreed to several changes to the terms of the purchase agreement as outlined below:

• Cash payment: Under the revised agreement, Globex will receive an additional $500,000 for a total of $13,750,000 of which $250,000 has already been paid.

• Share payment: Under the revised agreement, Globex will receive 9,000,000 Electric Royalty shares and 5,500,000 four-year warrants with an exercise price of $0.60 per share. Under an acceleration clause, after 2 years, should the Electric Royalties share price exceed $1.00 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share. Likewise, after 3 year, should the Electric Royalties share price exceed $1.50 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share.

Under the revised agreement, Globex will, excluding warrants to be exercised at a later date, have slightly less than a 20% shareholder stake in Electric Royalties and thus, shareholder approval will not be required for the transaction. The closing date of the transaction has been extended 21 days in order to get required approvals and final legal documents but it is expected that the sale of Globex’s Mid-Tennessee zinc royalty will be completed before that date as Sprott has now committed to the entire cash portion of the purchase price (see Electric Royalties/Sprott press release of today’s date).

Globex is pleased with Electric Royalties’ progress toward closing the purchase transaction. At closing, Globex expects to have over $27,500,000 in cash and shares of other listed companies as well as the 5,500,000 Electric Royalties warrants. In addition, Globex is working to complete several other transactions which, if finalized, will generate additional revenue for the company.

This press release was written by Jack Stoch, Geo., President and CEO of Globex.

• Despite multiple demands, Mr. Smith, to the detriment of all Fancamp shareholders, has illegally refused to provide critical technical and financial information belonging to the Corporation, forcing the Corporation to pursue additional legal action.

• Mr. Smith and his slate of nominees have also refused to confirm that, if elected, they will not use the Corporation’s funds to repay themselves for the costly proxy fight Mr. Smith started.

• The Smith Nominees have also refused to confirm they will maintain the integrity of the independent forensic investigation into Mr. Smith, effectively helping him hide his wrongdoings.

• Further to the May 12, 2021 announcement, KPMG has been retained to assist the Special Committee with its independent forensic investigation into Mr. Smith’s numerous misconducts.

Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced it will file an Application for a Safeguard Order (the "Application") with the Quebec Superior Court to obtain critical technical and financial information belonging to the Corporation from Mr. Peter H. Smith, a Director of Fancamp, and its former President and CEO.

Fancamp also notes that Mr. Smith’s May 25, 2021 press release is full of rhetoric and contains little substance. Mr. Smith’s argument is that he feels he is being treated unfairly – not that he hasn’t committed the actions outlined in the Corporation’s prior press releases – simply because the Board of Directors (the "Board") is holding him accountable for his actions.

Why the Application Was Needed

Despite multiple demands, Mr. Smith, to the detriment of all Fancamp shareholders, has ignored requests to preserve the information in his hands and has refused to return:

• Technical and financial information, including reports on Fancamp’s mining properties

• Banking information related to Fancamp or any of its subsidiaries

• Any correspondence and/or emails between Fancamp and its partners, third parties and shareholders

• Documents regarding contractual obligations and other agreements such as option agreements, access agreements, drilling or other exploration contracts and waivers

These critical items are needed for Fancamp to properly operate its business. Mr. Smith’s refusal is illegal and shows a complete disregard for the interests of Fancamp and its shareholders – the exact opposite of what one would expect from a director exercising their fiduciary duties.

Shareholders should be worried: for 30 years, Mr. Smith operated in secret – personally keeping all of the Corporation’s documents and taking personal possession of Fancamp’s office – in order to implement his self-serving agenda. Fancamp has started to uncover some of Mr. Smith’s misconduct, and believes his stonewalling is an attempt to conceal further damaging facts. This stonewalling, combined with the refusal of the directors nominated by Mr. Smith ("Smith Nominees") to confirm that they will not frustrate the investigation into his activities, raises a very real concern that a vote for Mr. Smith’ s nominees is a vote against accountability for Mr. Smith.

Mr. Smith’s History of Blatant Refusal and Obstruction

The Board has repeatedly tried to reason and work with Mr. Smith, but he has refused. While he was Director, President and CEO, the Board simply asked Mr. Smith:

• To be transparent about negotiations with third parties

• To use common governance and accountability practices, such as getting Board approval prior to spending shareholders’ money, initiating projects and providing budgets

• To comply with the securities laws that apply to him as a director, such as ensuring confidentiality and duty of loyalty

These are legal obligations and best practices, expected of all directors, yet Mr. Smith dismissed them entirely.

Mr. Smith’s Cover-Up Continues – Now With the Help of His Friends

Not only is Mr. Smith hiding information, the Smith Nominees are now helping him as well. Since Mr. Smith has refused to hand over the information in his possession, when his notice of nomination of directors was received, Fancamp was forced to ask the Smith Nominees to confirm they will:

• Not seek reimbursement from the Corporation for any costs they have incurred in their efforts to replace the Board

• Not hinder or cease the Corporation’s ability to complete the formal independent investigation into Mr. Smith

• Not interfere with or end the litigation brought by the Corporation against Mr. Smith

• Not interfere or dismiss any regulatory investigation involving Mr. Smith

The Smith Nominees have refused to respond to these simple requests. Their excuse is they do not want to "fetter their discretion with respect to future actions relating to the Company" if they are elected to the Board. They had no such concerns about the ScoZinc transaction, and have already announced that they will vote against it.

This double standard, selective application of excuses, and lack of commitment is clear evidence that the Smith Nominees plan to take shareholders’ money to reimburse themselves for the proxy fight Mr. Smith started and guard Mr. Smith from accountability. It is also a clear indicator about how they will behave – and whose interests they will look out for – if they are elected to the Board. It is in this context that the current Board is considering the validity of Mr. Smith’s advance notice nomination and the eligibility of the Smith Nominees themselves to serve on the Board as independent directors.

If Mr. Smith chose to behave the way he did with a Board who tried to hold him accountable for his destructive actions, imagine what he will do if his friends and associates become the Board. With no one to watch him, hold him accountable or put in place the appropriate checks and balances, Mr. Smith will have free reign to do as he pleases.

Mr. Smith has also complained about Fancamp’s Advance Notice Policy – a policy he created while he was in charge of the Corporation. Again, the double standard is clear: Mr. Smith believes policies and procedures do not apply to him or his friends.

Along with his notice of nomination of directors, Mr. Smith also submitted an unnecessary and redundant proposal of protocols for the AGM. The Corporation has reviewed the proposals and finds them needless and completely off-market. The Board fully recognizes the importance of a fair contested meeting. The Corporation’s AGM and the process leading up to it will be conducted with integrity and in a transparent manner, in accordance with the Corporation’s by-laws and all other legal requirements, recognized practice and with a view to the best interest of all shareholders.

What Else Is Mr. Smith Hiding?

Fancamp has strong reason to believe that a full investigation, with access to all of the relevant information, will uncover even more damning information about Mr. Smith. Further to the May 12, 2021 announcement, the Special Committee has hired KPMG International Limited ("KPMG") to assist with its independent forensic investigation into Mr. Smith. The Special Committee believes that retaining KPMG is in the best interest of the Corporation and its shareholders. It will ensure accurate information is presented so that shareholders can make a fully informed decision at Fancamp’s AGM.

The Corporation is disappointed that it is being forced to incur the expense of having had to file an Application, in addition to the civil claim, but Mr. Smith’s ongoing destructive actions has left it no choice. Fancamp continues to believe that Mr. Smith’s stonewalling is a blatant self-serving attempt to conceal damaging facts about his actions and derail the progress of the Corporation until the AGM.

Advisors

Lavery, de Billy, L.L.P. and Goodmans LLP are serving as legal advisor to Fancamp. Harris & Company LLP is serving as litigation counsel to Fancamp. Kingsdale Advisors is acting as strategic shareholder and communications advisor to Fancamp. Koffman Kalef LLP is serving as legal advisor to the Special Committee.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain forward-looking statements which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe both companies’ future plans, objectives or goals, including words to the effect that both companies or their respective 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", "foresees" or "plan". Since forward-looking statements are based on multiple factors, 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 Fancamp, Fancamp provides no assurance that actual results will meet the 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 or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Corporation’s annual general meeting, objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations, estimates of market conditions, future financial results or financing opportunities. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements.

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 news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005580/en/

Contacts

Rajesh Sharma, Chief Executive Officer
+1 (604) 434 8829
info@ fancamp.ca

Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
info@fancamp.ca

Media
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

Vancouver, British Columbia–(Newsfile Corp. – May 26, 2021) – Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that it has completed the acquisition (the "Acquisition") of SSR Mining Inc.'s ("SSR") 20% interest in Minera Cachinal S.A. ("Minera Cachinal"), the Chilean holding company for the Cachinal Ag-Au project (the "Cachinal Project"). The Acquisition was previously announced on May 27, 2020. Completion of the legal documentation in Chile, which was delayed by issues related to the COVID pandemic, has now taken place.

Aftermath and SSR previously signed a purchase agreement covering Aftermath's acquisition of SSR's 20% interest in the Cachinal Project for a total consideration of C$700,000. The final stage of the transaction was the recent completion of the relevant Chilean documentation and registration of Aftermath's ownership of Minera Cachinal – which owns the Cachinal Project- with the Chilean authorities. Aftermath Silver now owns 100% of the shares of Minera Cachinal, minus one share which will remain held by Aftermath's Chilean legal counsel, as per Chilean business law requirements.

Michael Williams, Executive Chairman of Aftermath said: "We're pleased to finalise this transaction and secure Aftermath's ownership of Cachinal. I'd like to thank our Chilean legal counsel for helping to expedite this transaction despite challenges poised by COVID protocols. We can now advance our exploration and development plans which we will be announcing shortly."

The Cachinal Project is located in Chile's Antofagasta region (Region II). The project is located about 40 kilometres east of the Pan American Highway, in a nearly flat plain at an elevation of around 2,700 m above sea level, 16 km north of Austral Gold's Guanaco gold-silver mine. On September 16, 2020, Aftermath announced a NI 43-101 compliant, current Mineral Resource estimate for the Cachinal Project which can be found on the Company's website (https://aftermathsilver.com/projects/technical-reports/) and on its SEDAR profile.

Qualified Person Statement

All scientific and technical information in the news release has been prepared by Peter Voulgaris, MAIG, MAusIMM, a consultant to the Company, a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris consents to the information provided in the form and context in which it appears.

About Aftermath Silver Ltd.

Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The Company's projects have been selected based on growth and development potential.

• Berenguela Silver-Copper project. The Company has an option to acquire a 100% interest through a binding agreement with SSR Mining Inc. The project is located in the Department of Puno, in southern central Peru. On February 25, 2021, the Company filed a NI 43-101 Technical Report (available on SEDAR and on the Company's web page) for the project.

• Challacollo Silver-Gold project. The Company has an option to acquire 100% interest in the Challacollo silver-gold project through a binding agreement with Mandalay Resources Corp., see the Company's news release dated June 27, 2019. A NI 43-101 Mineral Resource was released in 2020 and the Company filed a NI 43-101 Technical Report for the project on February 5, 2021.

• Cachinal Silver-Gold project. The Company owns a 100% interest, minus one share held by Chilean legal counsel, in the Cachinal project located 2.5 hours south of Antofagasta. On September 16, 2020, the company released a CIM compliant Mineral Resource and accompanying NI 43-101 Technical Report (available on SEDAR and on the Company's web page).

ON BEHALF OF THE BOARD OF DIRECTORS

"Ralph Rushton"

Ralph Rushton
CEO and Director
604-484-7855

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

Cautionary Note Regarding Forward-Looking Information

Certain of the statements and information in this news release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance, including without limitation, exploration plans at the Company's mineral projects (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

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. 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 or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver's profile at www.sedar.com.

There is no certainty that any forward‐looking statement will come to pass and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85238

TORONTO, May 26, 2021 /CNW/ – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the "Company") is pleased to announce the commencement of a 2,800 metre diamond drilling program at the Oakley Project, Idaho in collaboration with Centerra (U.S.) Inc. ("Centerra"), which has the option to earn up to a 70% interest in the project by, among other things, spending up to US$7 million in exploration expenditures on the project prior to May 2026. Centerra is the operator of the project and Excellon is the manager under the terms of the option agreement between the parties, with all expenditures currently being funded by Centerra.

"Oakley is a low sulphidation, epithermal gold project with the potential for Carlin-style mineralization at depth, a similar setting to Liberty Gold's Black Pine Project, 70 kilometres due east," stated Ben Pullinger, SVP Geology & Corporate Development. "Over the past year, we have been advancing the project with Centerra, collaboratively developing high quality targets as they earn into their option on the project. The current drill program promises to test a number of these targets over the coming months and complements our strong 2021 exploration pipeline."

The Cold Creek claims cover approximately 14 km², including a structurally complex north to south valley with bounding faults that has created at least three prospective geologic zones along the western and eastern margins. The current drill program will test targets within these zones, as follows:

Eastern Margin

A historically undrilled area of receptive units with gold in soil anomalies above shallow bedrock. Targets were generated by surface geochemistry and induced polarization surveys.

Bound Block

This area is bound by large structures on the east and west and has demonstrated surface and subsurface gold mineralization. Reverse circulation ("RC") drilling from the late 1980's returned anomalous grades that have not been followed up on. More recent work delivered anomalous gold in soil and rock samples, with basin wide resistivity and chargeability anomalies. The program is designed to test geophysical anomalies and follow-up on identified gold occurrences at surface.

Western Margin

A historically underexplored area of structural complexity with hydrothermal material at surface. RC drilling from the late 1980's intersected 18.3 metres grading 0.46 g/t gold from surface. More recent work has identified gold in soil anomalies corresponding with a chargeability anomaly from IP surveying.

About the Oakley Project

The Oakley project totals 2,833 hectares located 21 kilometres south of Oakley, Idaho. Cold Creek is at the northern end of the claim blocks, flanking the northeastern side of South Middle Mountain. The project hosts low-sulphidation, epithermal mineralization. The underlying Paleozoic Basin-and-Range sedimentary units have the potential to host Carlin-style epithermal mineralization.

Qualified Person

Mr. Ben Pullinger, PGeo., Senior Vice President Geology & Corporate Development, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information contained in this press release.

About Excellon

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The Company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

Additional details on Excellon's properties are available at www.excellonresources.com.

Forward-Looking Statements

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding mineral resources estimates, the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Cautionary Note to U.S. Investors: The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used on Excellon's website and in its press releases are Canadian mining terms that are defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms are not defined terms under United States Securities and Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws. U.S. investors are urged to consider closely the disclosure in the Company's Form 40-F which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

SOURCE Excellon Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c5693.html

– By Graham Griffin

GuruFocus had the pleasure of hosting a presentation with Benj Gallander, the co-editor of the Contra the Heard Investment Letter, which has amongst the highest returns in the world at 18.1% annualized over the past 20 years.

He is the author of three best-selling books, two in the stock market sector and The Canadian Small Business Survival Guide, which was first published in 1988 and is still in the stores today. There are also American, Chinese and Czech editions of this work.

• Warning! GuruFocus has detected 3 Warning Signs with TSXV:DM. Click here to check it out.

• TSXV:DM 15-Year Financial Data

• The intrinsic value of TSXV:DM

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He was a regular on BNN – Bloomberg's number one show for almost 20 years. In addition, he appeared every couple of weeks on CBC's On the Money with Peter Armstrong, talking about topics as diverse as marijuana, crypto currencies, AI and many others until, ironically, the show ran out of money. Benj is also on the Boards of Datametrex AI (TSXV:DM) and Char Technologies (TSXV:YES).

Six of his plays have seen the stage across Canada. He is a co-founder of one of Canada's largest performance festivals, SummerWorks, which recently celebrated its 30th anniversary.

Gallander has traveled to over 35 countries, working in many of them. This included a stint with the Centre for International Studies and Cooperation (CECI) doing anti-poverty work in Nepal; teaching in Czechoslovakia soon after the Velvet Revolution and working in the Middle East and France.

Watch the full presentation here.

Key takeaways

Gallander kicked off his presentation by diving into the governing philosophies that he follows alongside his small team at Contra. He explained that he believes they are all deep value investors and take a focus on stocks that are undervalued and unpopular.

He continued to explain that his screens start with stocks that are trading down 33%, if not 50% in many cases, and are usually approaching 10-year lows. At times, such as during the beginning of the pandemic last year, this strategy applies to the overall market when things have been driven down. This creates an ideal opportunity for great returns.

Within his own portfolio, Gallander focuses on stocks that have been around for at least 10 years. These well-established companies offer long-term financial statements and he generally avoids anything new to the market. For any of these companies to make it past the first round of his screen they must have the potential for a 50% upside, but Gallander continued to explain that he is regularly looking at businesses that can increase 200% to 300%.

Gallander also takes into account the ability of management to actually deliver on their stated goals. He does this by trying to keep an open line of communication with the leadership teams of the businesses he invests in. If at times a company continually provides a positive outlook, he will generally discount the management's statements.

Another key point Gallander made during his presentation was the practice of establishing firm sell targets. Once an investment reaches that target, he will sell a minimum of 50% of the holding and he regularly sells entirely out of holdings. This practice allows him to wade through the noise of the 24 hour news cycle and maintain a level head while avoiding selling holdings too early.

Stocks

Gallander used three different stocks to emphasize a few points of philosophy on investing. The first example he spent some time on was Banco Santander SA (NYSE:SAN). He explained that the bank is the largest in Spain and has operations in several other countries around the globe. He described it being run "beautifully" as the bank had not lost any money prior to this year despite its operations going back two centuries.

The second example Gallander to a brief look at was Gold Resource Corp. (AMEX:GORO). He started off saying that he wishes that he owned more gold companies but that Gold Resource Corp. is a well run company and a solid investment. The company has absolutely no debt and gold offers several unique opportunities moving into the future.

The last example Gallander described as a play on oil and gas. Black Diamond Group (TSX:BDI) has a high level of insider ownership and Gallander continued to explain that the company has been expanding and he could see share prices rise significantly. He admits the company has a high level of debt that he would like to see come down, but that he sees a good amount of upside.

Questions

Gallander made sure to leave ample time for audience questions and the first question he took asked him how much cash or liquidity he keeps in the portfolio he manages. He began with a quick explanation that the portfolio run by Contra's vice president currently has about 50% of its value in cash.

In his own portfolio they do not include cash in the overall value, but he continued to say that he always maintains lots of cash on the sidelines. Currently, he wishes that he had more of that money invested into stocks. However, at the beginning of the year he sold off many different holdings as those investments had seen tremendous gains.

Gallander also explained that he has been slow to invest money over the last year as many potential investments have maintained high share prices. He is reasonably confident that there will be a crash of some sort moving into the future so he has plenty of money ready to be invested should that time arise.

Another question asked Gallander how he decides to exit a position should he see it take a negative turn. He explained that he constantly monitors all of his investments so that he knows what is going on with them and if he needs to make a change. At times he is willing to accept tax losses and he continued to explain that he likes to do the majority of his buying at the end of the year when others are doing tax loss sell offs.

During these times he sees increased numbers of shares trading which in turn allows him to buy companies at a lower price. Gallander also added that he will average down at times, but that he believes stop-losses are a waste as he has watched companies fall below common stop-loss percentages before rising back up. In the end he believes that an investor should focus on having more money in their pocket that can be invested so every investor has to play the tax game at times.

Disclosure: Author owns no stocks mentioned.

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This article first appeared on GuruFocus.

* Tin producers unable to export as Goma government offices shut

* Congo accounts for 8% of world's tin-in-concentrate

* As much as 175 tonnes of tin could be delayed – ITA

* ITA sees build-up in stocks at mining operations (Adds ITA quote)

By Helen Reid and Pratima Desai

JOHANNESBURG/LONDON, May 27 (Reuters) – Earthquakes following a volcanic eruption in Goma, a city near Congo's border with Rwanda, are disrupting exports of tin concentrate from mineral-rich North Kivu province, the International Tin Association (ITA) said on Thursday.

The industry association confirmed what two sources with direct knowledge told Reuters on Wednesday.

The disruption to Congolese tin exports – which account for 8% of the world's tin-in-concentrate, according to the ITA – is likely to exacerbate shortages of the soldering metal, prices of which last week touched 10-year highs at $30,650 a tonne.

Tin ore producers have been unable to obtain the permits they need to export the material because government offices in Goma, North Kivu's capital city, are shut, the sources said.

"It is currently unclear when Goma will be declared safe again, and government offices will reopen," the ITA said.

Congolese authorities ordered the partial evacuation of Goma on Thursday, saying Mount Nyiragongo volcano could erupt a second time with little or no warning after more than 200 small and medium earthquakes shook the city following Saturday's eruption.

Some 200 to 250 tonnes of tin concentrate move through Goma every month, the ITA said, citing a source close to producers in the region.

Tin concentrates typically contain around 50%-70% metal, so around 100 to 175 tonnes of tin-in-concentrate could be disrupted, the ITA said.

The ITA said it expects producers in North Kivu to continue operating despite delays to export permits, and sees a short-term build-up in concentrate stocks at mining operations, followed by greater exports once licences can be renewed.

Tin was trading up 0.2% at $29,585 a tonne on Thursday.

The vast majority of North Kivu's tin exports come from Alphamin Resources' Bisie mine near Walikale, 230 kms (142 miles) west of Goma.

Alphamin, which produced 10,319 tonnes of tin-in-concentrate in 2020, said on Wednesday that government services relating to export documentation have been disrupted but are expected to return to normal next week "assuming no further volcanic eruptions".

Alphamin exports its tin via Beni over the border to Uganda, and ultimately to Kenya's port of Mombasa, from where it is shipped.

(Reporting by Pratima Desai and Helen Reid with additional reporting by Zandi Shabalala; Editing by Mark Heinrich, Alistair Bell and Emelia Sithole-Matarise)

Vancouver, British Columbia–(Newsfile Corp. – May 26, 2021) – Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the "Company" or "Contact Gold") is pleased to announce voting results from the Company's Annual and Special Meeting of Shareholders held on May 25, 2021 (the "Meeting").

A total of 160,368,117 common shares were voted, representing the votes attached to approximately 66.59% of all outstanding common shares. Shareholders voted in favour of the election of all director nominees.

Mark Wellings did not stand for re-election as a director of the Company due to other personal and business commitments. Mr. Wellings was a founding Board member of Contact Gold and an exceptional member of the Board and team since June 2017. The Board of Directors extends best wishes for his future endeavours.

Shareholders also voted in favour of (i) the reappointment of Ernst & Young LLP, Chartered Professional Accountants, as auditor of the Company; (ii) the plan of conversion from the State of Nevada to continue into the Province of British Columbia (the "Continuance"); and (iii) the plan of arrangement under the laws of British Columbia (the "Arrangement" and together with the Continuance, the "Repatriation Transaction").

Completion of the Arrangement is also subject to approval by the Supreme Court of British Columbia, and receipt of applicable regulatory approvals and consents as may be required to effect and complete the transaction, including approval of the TSX Venture Exchange (the "TSXV").

Assuming that all requisite approvals are received, the Company expects to close the proposed Repatriation Transaction during the first week of June 2021.

Reminder to Registered Securityholders

Registered Shareholders not holding their common shares in a brokerage account and Registered Warrantholders are reminded to complete, sign and remit the Letter of Transmittal along with the accompanying Common Share certificate(s) and/or Warrant certificate(s) as instructed in the relevant Letter of Transmittal in order to receive replacement securities of Contact Gold. Registered Warrantholders in the United States MUST also return the relevant U.S. tax forms attached thereto to the Company in order to comply with U.S. federal income tax provisions, including those related to withholding taxes.

About Contact Gold

Contact Gold is focused on advancing the Green Springs and Pony Creek gold projects in Nevada, both of which host extensive and robust Carlin Type gold systems.

Green Springs is located near the southern end of the Cortez Trend of Carlin-type gold deposits in Nevada, east of Fiore Gold's Pan Mine and Gold Rock Project, and south of Waterton's Mount Hamilton deposit. The Green Springs property is 18.5 km², encompassing 3 shallow past-producing open pits and numerous targets that were not mined.

Pony Creek is strategically located immediately south of Gold Standard Ventures' South Railroad Project, on the Southern Carlin Trend, and totals 81.7 km² underpinned by an extensive Carlin-type gold system.

Additional information about the Company is available at www.contactgold.com.

For more information, please contact (604) 449-3361 for either:
Matthew Lennox-King, President & Chief Executive Officer mlk@contactgold.com
John Wenger, Chief Financial Officer wenger@contactgold.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the anticipated completion of the Repatriation Transaction, the, associated receipt of all requisite corporate, court and applicable regulatory approvals, including approval of the TSXV and timing therefor.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as 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 materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: failure to obtain the requisite corporate, court and applicable regulatory approvals, impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85262

Vancouver, British Columbia–(Newsfile Corp. – May 26, 2021) – Pacific Ridge Exploration Ltd. (TSXV: PEX) ("Pacific Ridge" or the "Company") is pleased to announce that mining industry veteran Gary Baschuk will stand for election to the Company's board of directors at the annual general meeting to be held on June 24, 2021.

"Gary Baschuk is a well-known and well-respected member of the mining industry," said Blaine Monaghan, President and CEO of Pacific Ridge. "Attracting someone of Gary's calibre to Pacific Ridge's board speaks volumes about our team and our goal of becoming one of B.C.'s leading copper-gold exploration companies. With a drill program at the Kliyul copper-gold project around the corner, we look forward to Gary's valuable input."

"I graciously welcome the opportunity to work with the existing board and management team in the future development of Pacific Ridge," said Gary Baschuk. "The aggressive new direction of the company at a time of copper and gold appreciation creates a new and vibrant opportunity for shareholders which my experience would complement."

About Gary Baschuk

Gary is the Managing Director, Mining & Senior Geologist at PearTree Securities and has over 30 years of industry experience as a mining analyst/geologist. He has spent the past 16 years in capital markets and over 20 years in the mining industry. Gary's analytical focus has been on small to mid-sized exploration, development and production precious metals companies. Industrial experience, all with Barrick Gold, ranged from early-stage exploration across northern Ontario, Manitoba and Quebec plus development and production on two mines – Holt-McDermott in northern Ontario and Rodeo/Griffin (part of the Meikle Mine at the Goldstrike Mine Complex) in Nevada. In addition, on behalf of Barrick, Gary managed an exploration company in Spain. Gary holds a BSc, Geology Specialist Degree from the University of Toronto, is a Fellow of the Geological Association of Canada, and a member of the Prospectors and Developers Association of Canada.

About Pacific Ridge

Our goal is to become one of the leading copper-gold exploration companies in British Columbia. Pacific Ridge's flagship project is the advanced-stage Kliyul copper-gold project, located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold's Kemess project. Historic drilling at Kliyul encountered significant porphyry copper-gold mineralization, drill hole KL-15-34 returned 245 metres of 0.75% CuEQ¹ (see Pacific Ridge press release dated December 2, 2020). The Company plans to launch a drill program at Kliyul this summer.

On behalf of the Board of Directors,

"Blaine Monaghan"

Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.

Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX

Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email: ir@pacificridgeexploration.com

¹ Copper equivalent (CuEQ) is equal to ((Cu (per cent) multiplied by $2.25 multiplied by 22.0642) plus (Au (g/t) multiplied by $1,650 multiplied by 0.032151)) divided by ($2.25 multiplied by 22.0642).

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.

The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Executive Chairman of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding Gary Baschuk's appointment to the board and a drill program at Kliyul this summer. Although Pacific Ridge 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, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed 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. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85246

VANCOUVER, British Columbia, May 26, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to announce that it has entered into an option agreement to acquire up to 100% interest in the Canyon Creek copper project in northwestern British Columbia (“B.C.”), Canada.

B.C. hosts 13 districts of copper-rich deposits in the production and development stage within two major zones (Quesnel and Coastal/Stikine volcanic-plutonic arc – terranes). The most prominent deposits are the Red Chris, Galore Creek, Schaft Creek, Kemess North, Mount Milligan in the north; and Highland Valley and Copper Mountain in the south. Many of these deposits produce both copper and gold.

The Canyon Creek property is located in the northwestern end of the Quesnelia Zone (Terrane) approximately 160 kilometres (“km”) from the Red Chris Mine, 15 km from a main highway and 60 km from the town of Dease Lake.

Canyon Creek comprises 24 square kilometres covering a discrete bullseye copper-molybdenum-silver anomaly delineated by regional stream sediment survey. The property also covers large areas with anomalous levels of molybdenum (“Mo”) and copper (“Cu”) in soils extending over 5 km by 2 km and is open. Mo ranges from 10 to 270 parts per million (“ppm”) and Cu ranges from 40 to 780 ppm. Please see: https://www.candentecopper.com/projects/canyon-creek-bc-canada/ for maps.

Prospecting has identified two separate zones of Cu and Mo mineralization, in outcrops of quartz veining and stockwork zones containing chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide). These two areas cover 800 metres (“m”) by 300m and 400m by 400m, respectively. Mineralization, found on surface to date, grades up to 1.56% Cu; up to 0.1% Mo and up to 17.6 grams per tonne (“g/t”) silver (“Ag”).

The mineralization, soil anomalies and geophysical anomalies appear to be associated with an altered quartz monzonite porphyry which intrudes rocks of the Quesnel Terrane. Large granodiorite to quartz monzonite plutons are affiliated with the Quesnel Terrane of B.C. Overall, quartz-monzonite plutons form the largest world class deposits of Cu-Mo-Au and Cu-Mo. Examples are Edernet with 1.78 billion tonnes of 0.62% Cu and 0.025% Mo, Chuquicamata, 6.45 billion tonnes of 0.55% Cu and Bingham Canyon, 3.24 billion tonnes of 0.88% Cu, 0.02% Mo and 0.5 g/t Au.

The property is also situated adjacent to a major NNW striking fault (the Thibert Fault) and close to a 70 km long E-W striking lineament.

Previous Exploration

Over $1 million has been spent at Canyon Creek by previous explorers dating back as far as 1971 when Dolmage Campbell/UMEX conducted IP and ground Magnetics and apparently drilled 4 holes, although this has not been verified. Since then, Cassiar Asbestos Corp. (1971), Noranda (1978), Paget Resources (2008) and Sirius Resources (2012) have conducted stream sediment and soil sampling; geological mapping, prospecting and rock chip sampling; airborne Fugro MAG (1317 line km); ZTEM (200 line km). There is no evidence that any of these groups conducted any drilling.

Terms of the Agreement

The Company has entered into a legally binding Letter of Intent (“LOI”) with property owner Chris Baldys. The LOI provides for the following:

Acquire 100% Interest (subject to Royalty*) by:

1. Issuing a total of 1M shares over 5 years (by November 30, 2025)

2. Funding exploration activities to keep the claims in good standing until December 2027 (approximately Cdn$45,000 per year)

Of the above the following is a Firm Commitment:

• Issue 50,000 shares within 14 days of signing and receiving TSX approval

• Issue an additional 50,000 shares by November 30, 2021

• Funding exploration activities totalling a minimum of $42,000 by December 31, 2021

*Royalty:
The Vendor will be granted a royalty equal to 1.5% of net smelter returns. The Company has the right to buyback the first 0.5% for $500,000 and the second 0.5% for an additional $1.5M.

The owner advises that there are no legacy issues, no surface rights activity and no other issues that would limit orderly exploration work (Notice of Work) applications.

About Candente Copper

Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

Please see https://www.candentecopper.com/investors/presentations for details from previous resource and engineering studies which delineated 9B lbs copper, 2M oz gold and 54M oz silver in: Measured and Indicated Resources of 752.4 million tonnes grading 0.45% copper, 0.07 grams per tonne (“g/t”) gold and 1.9 g/t silver (0.52% Cu equivalent) containing 7.533 B lb Cu, 1.67 M oz Au and 45.24 M oz Ag and Inferred Resources of 157.7 million tonnes grading 0.44% copper, 0.06 g/t gold and 1.8 g/t silver containing 1.434 B lb Cu, 0.3M oz Au and 8.932 M oz Ag.

Details from the Cañariaco Norte Copper Project Pre-Feasibility Study Progress Report available at https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is in the lowest quartile of top 84 copper projects worldwide named by Goldman Sachs. Cash Costs are also in lowest quartile of the copper industry.

Joanne C. Freeze, P.Geo., CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

info@candentecopper.com
www.candentecopper.com

NR-131

VANCOUVER, British Columbia, May 26, 2021 (GLOBE NEWSWIRE) — Imperial Metals Corporation (the “Company”) (TSX:III) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated April 1, 2021 were elected as directors of the Company at the Annual General Meeting of Shareholders (the "Meeting").

Results of the vote for the election of directors held at the Meeting on May 26, 2021 in Vancouver, British Columbia are:

A total of 81,380,882 common shares were voted in connection with the Meeting, representing approximately 63.3% of the issued and outstanding common shares of the Company. The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on sedar.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658

VANCOUVER, BC, May 26, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX" or the "Company") is pleased to provide an overview of an expanded exploration program starting in June at the Company's Decar Nickel District ("Decar") in central British Columbia. In addition to the drill programs at the Baptiste Deposit and the Van Target (see the Company's May 10, 2021 news release), regional exploration will focus on prospective under- and un-explored areas within this 245 square kilometre ("km²") ophiolite complex.

Highlights

• FPX to conduct regional mapping and surface sampling within the Decar land package at the existing Sid and B targets and at five new prospective areas

• Work at Sid and B designed to potentially expand the footprint of known mineralization and investigate the ground located between the two targets, where previous drilling has generated positive results

• Reconnaissance exploration in five prospective new areas, which have been identified on the basis of high magnetic response from previous airborne surveys, limited previous sampling work and/or improved access to outcrop resulting from recent clear-cut logging activity

"With plans to conduct infill drilling at Baptiste and a maiden drill program at the Van Target this summer, we are excited to conduct additional exploration around the Sid and B targets, plus regional exploration at five other under-explored areas at Decar," commented Martin Turenne, FPX's President and CEO. "The exploration potential at the Decar Nickel District remains vast and offers a compelling opportunity to expand the nickel endowment beyond that already demonstrated at Baptiste, which is the world's third largest undeveloped nickel deposit.*"

Figure 1: Decar Nickel District with airborne magnetic survey results showing the location of the Baptiste Deposit, Van target and additional exploration areas

Sid and B Targets

Surface exploration will be conducted this summer to further refine and expand the areas within, surrounding and between the Sid and B Targets, located approximately 3 and 4.6 km, respectively, north-northwest of the Baptiste Deposit. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with nickel grades comparable to the Baptiste Deposit (see Tables 1 and 2, below).

Table 1 – Results of Previous Drilling at Sid Target

The holes at Sid were drilled to test the depth extent of mineralized ultramafic rock outcrops located west of the drill hole locations. Both holes were drilled to the southwest at an inclination of 60 degrees and were located 325 metres apart on the inferred northwestern boundary of the Sid target area.

Table 2 – Results of Previous Drilling at B Target

New Exploration Areas

The Company has identified five prospective new areas within the Decar claims group on the basis of high magnetic response from previous airborne surveys and, in certain areas, from limited previous sampling. In certain of these areas, recent logging activity by forestry companies has removed significant ground cover, and it is anticipated that additional areas of outcrop which have been previously inaccessible will now be uncovered. The regional exploration work will involve mapping and rock sampling, size estimations of awaruite (the nickel-iron alloy) and Davis Tube Recoverable ("DTR") nickel analysis.

Area 1 is located approximately 1 km north of the Baptiste Deposit. There is only one previous outcrop sample within this area, grading 0.08% DTR nickel. The possible trend extension of the B and Sid target into the northwest part of this area will also be investigated.

Areas 2 and 4 are located southeast of the Van target. Sampling of outcrop has not previously been conducted in these areas, but recent clear-cut logging activity has provided new access to determine if outcrop zones have been exposed in these portions of the Decar claim group.

Area 3 is located approximately 3 km northeast of Baptiste. Previous limited outcrop sampling completed over Area 3 has returned coarse-grained awaruite with DTR nickel grades ranging from 0.07% to 0.131%.

Area 5 is along an apparent northwest-southeast trend to the northwest of the Van Target. No surface sampling has previously been completed within this area but there is recent logging activity which may have exposed new outcrops.

*Note: The Baptiste Deposit ranks as the world's third largest undeveloped nickel deposit, according to Mining Intelligence (see https://www.mining.com/featured-article/ranked-worlds-top-10-nickel-projects)

Dr. Peter Bradshaw, P. Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km² of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. The District is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni₃Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, approximately US $24 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit. The Van target was not drill-tested at that time as rock exposure was very poor prior to more recent logging activity.

As reported in the current NI 43-101 resource estimate, having an effective date of September 9, 2020, the Baptiste Deposit contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, containing 2.4 million tonnes of nickel, plus 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, containing 0.7 million tonnes of nickel, both reported at a cut-off grade of 0.06% DTR nickel. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director

Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c0867.html

VANCOUVER, BC / ACCESSWIRE / May 26, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to report Phase 2 diamond drilling has begun at the Lone Star Zone Target area, part of a three phase drill program on the Company's wholly owned 586 square kilometer Klondike District Property near Dawson City, Yukon Territory. Also, the Company has received an early small gold royalty payment from Dulac Mining as the first gold ‘clean up' of 2021.

SUMMARY

• Phase 2 drilling begins at Lone Star Zone, maiden resource in focus.

• Visible gold is identified in the second 2021 drill hole testing the Phase 2 ‘Lone Star East' target area.

• Visible gold also is identified in two of three archived legacy drill cores from 2006, during re-logs. These are within the Phase 2 ‘Lone Star Deep' drill target area.

• Phase 1 drilling at Virgin and Lindow Targets complete (see details below).

• Dulac Mining has begun placer mining operations on the Company's Upper Eldorado Creek placer property. Klondike Gold has received the first royalty (10%) payment of 2021 comprised 0.5 ounces flake gold from a total 4.5 ounces gold recovered during start-up equipment testing.

Peter Tallman, Klondike Gold's CEO stated, "Visible gold in the second 2021 hole at Lone Star Zone is an excellent boost to the start of the season, as is identifying visible gold in two pertinent historic holes by previous management. The ‘behind the scenes' work by our team collecting and modelling structural, geochemical and geologic data is responsible for the Company's confidence in the Lone Star East and Lone Star Deep targets. It is a great start to a breakout season. Credit to the team as a steady and methodical exploration approach over this historic district begins to pay dividends."

PHASE 2 LONE STAR ZONE TARGETS

Phase 2 drilling begins with the focus on outlining a maiden resource within the 3,000+ meter length of Lone Star Zone. The Lone Star Zone footprint from 50-meter spaced drilling is currently 950 meters by 200 meters size (see Figure 1). The majority of 2021 drill meterage will be expended testing for expansions of Lone Star Zone mineralization in two informally named target areas: Lone Star Deep and Lone Star East. The Lone Star Deep target comprises a 600 meter by 200 meter panel the Company is simultaneously testing for near surface, across-strike mineralization as well as for down-dip continuation of the Lone Star Zone to 250 meters below surface. Recent examination of legacy 2006 holes within the Lone Star Deep target encouragingly identified visible gold near surface in two of the three holes (see Figure 1 for 2006 hole location).

The Lone Star East target is a 250 meter by 200 meter panel that tests for eastern continuation of Lone Star Zone gold mineralization. Drilling in 2021 has begun here and visible gold is noted in the second drill hole of the Phase 2 program, LS21-399, at 42.2 meters downhole within an interval typical of Lone Star Zone gold mineralization.

Figure 1: Lone Star Zone Target Areas

PHASE 1 VIRGIN AND LINDOW TARGETS UPDATE

Phase 1 drilling is complete with a total of 356 meters of core drilled in five holes; three at Virgin Mine and two at Lindow targets. Drill operations were difficult in steep terrain and core recoveries were poor and blocky, resulting in short holes. Logging and sampling of these holes is in progress. At least one of the Virgin target holes intersected alluvial white channel gravel perched on a side-hill bench above bedrock; not of economic interest to the Company, but a reminder of the link between gold rush era placer gold and modern exploration.

DULAC MINING ON UPPER ELDORADO CREEK PLACER

Dulac Mining has resumed placer mining operations on the Company's Upper Eldorado Creek placer property and has completed the first gold ‘clean up' of 2021. Klondike Gold has received 0.5 ounces of gold flakes from a total of 4.5 ounces gold recovered from material processed during start-up equipment testing as first royalty (10%) payment of 2021. In 2020 Dulac Mining recovered 500 ounces placer gold (as fines, coarse flakes, and nuggets) with the Company receiving 50 ounces placer gold in royalty payment.

Figure 2: Location of Planned 2021 Drilling Targets (red stars) including Phase 1: Virgin/Lindow Target, Phase 2: Lone Star Zone and Phase 3: Stander Zone.

QUALIFIED PERSONS REVIEW

The technical and scientific information contained within this news release has been reviewed and approved by Ian Perry, P.Geo., Vice-President Exploration of Klondike Gold Corp. and Qualified Person as defined by National Instrument 43-101 policy. Detailed technical information, specifications, analytical information and procedures can be found on the Company's website.

COVID-19 UPDATE

Klondike Gold continues to take proactive measures to protect the health and safety of our local host community, our contractors and our employees from COVID 19 and exploration activities in 2021 will have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer. Additionally, the Company has received Yukon government approval for our 2021 Alternate Isolation Plan ("AIP") which mandates protocols and stringent isolation safety measures permitting essential personnel to transit to/from Yukon. As of May 25, people who are fully vaccinated will no longer be required to self-isolate for 14 days upon entry to Yukon provided their vaccination status can be confirmed. Klondike Gold employees and contractors will reach 92% fully vaccinated in the coming days with objective of 100% as soon as practicable.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr'ondëk Hwëch'in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

President and CEO
(604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.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.

Disclaimer for 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 Klondike 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 Klondike'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. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

Follow the Company:

Twitter: @KlondikeGoldKG
Instagram: @KGKlondikeGold
LinkedIn: Klondike Gold Corp.
Facebook: Klondike Gold

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/649126/Klondike-Gold-Begins-Phase-2-Drilling-at-Lone-Star-Zone

Exploration Continues on Gold-Silver Targets Identified in Phase-1 Diamond Drilling

VANCOUVER, BC / ACCESSWIRE / May 26, 2021 / Brigadier Gold Limited (the "Company" or "Brigadier") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce the discovery of bulk tonnage type copper mineralization in trenching and further results from exploration of newly identified gold targets at its Picachos gold-silver-copper project Sinaloa, Mexico (the "Picachos Project," "Picachos" or the "Property"). Additional assays from phase-1 diamond drilling are anticipated to be received in June.

Pichachos, located approximately four hours' drive from the city of Mazatlan, covers 3,954 hectares and overlaps one of the largest high-amplitude contiguous anomalies for gold and base metals in the western Sierra Madre with values up to 6841 ppb Au in fine-fraction, active channel stream sediments.

Rob Birmingham, President and CEO, remarks, "We're proud of the team effort put into acquiring, financing, and driving exploration and development at Picachos. Exploration and diamond drilling efforts led by head geologist Michelle Robinson, have successfully identified an extensive mineralized vein system and numerous targets for follow up investigation, including a large, unexplored copper porphyry target situated in the northern part of the Property. We look forward to implementing a cost-effective approach aimed at further de-risking Picachos and building on the technical success achieved to date."

Copper Discovery

Brigadier has initiated trenching across historic anomalies considered prospective for bulk-tonnage style copper mineralization. Trench BRG-50250 was located approximately 2 kilometres south of a trench cut by Brigadier across several hundred metres of molybdenite in the winter of 2020. The first 50 metres of BRG-50250 have been sampled and analyzed using the field XRF and returned copper values between 0.05% and 1.34% and silver values between 20g/t and 284g/t. These samples will be sent to the lab when the trench is complete and mineralized intervals formally reported after that.

La Gloria Gold Target

Brigadier has completed mapping and sampling of the historic La Gloria underground gold mine in the central part of its Picachos Project. In 2020, Brigadier intercepted La Gloria in DH-BRG-028 between 140 and 141 metres depth where a value of 6.26 g/t gold across 1 metre was returned. This intercept was 112 metres below the historic workings. In the plane of the vein, the known underground workings are 60 to more than 130 metres below topography. Collectively, diamond drilling and the underground workings define the position of La Gloria Vein for more than 240 metres down-dip.

La Gloria stope is accessed by a 105 metre long cross-cut at the 950 metre elevation that trends easterly. The cross-cut and drill hole locations are now tightly controlled by a high-resolution airborne LiDAR survey recently completed by Eagle Mapping. From the portal, La Gloria cross-cut and stope was surveyed using a Brunton and tight chain.

From the mine portal to 71 metres, the host rocks consist of intermediate volcanics that are dark grey-green and contain amygdules that are filled with quartz, chlorite and calcite. The stope was mapped for approximately 35 metres northwest of the cross-cut and 65 metres to the southeast. La Gloria Vein strikes 155°-160° and dips 80°-65° southwesterly.

Samples were cut every metre along the cross-cut to identify any metal bearing veins or veinlets in the hanging wall to La Gloria and clean off the dust for geological mapping. In the stope, the historically worked faces form a honeycomb and samples were cut across the back or working faces where rock conditions were safe for sampling. Fifteen sample lines of one to three samples each were collected across the vein and these have been submitted today to SGS in Durango for gold and base metal analyses. Gold is apparent in panned concentrates of several samples.

Drill Results Pending

Assays are still pending for 518 metres of drilling completed in phase-one, most of which is from a 3-hole fence drilled across El Placer Norte where underground sampling returned grades of up to 12.79 g/t across the Huarache Vein. Perhaps more significantly, a surface trench across the El Placer trend returned values of 0.5 g/t gold across 65 metres in BRG-117154. This was followed by 8 metres of 2.14 g/t gold in adjacent trench BRG-117146.

National Instrument 43-101 Disclosure

The technical information in this press release has been reviewed by Michelle Robinson, MASc., P.Eng., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Drilling was completed using PQ and HQ tooling. Core and sample handling procedures are documented in the Company's press release dated October 22, 2020. Standard pulps, field duplicates, pulp duplicates and blanks are inserted into the sample stream. The samples were analyzed by SGS Laboratories in Durango using fire-assay methods for gold, and ICP methods with a 4-acid digestion for silver and base metals. SGS is an accredited laboratory. It is the Qualified Person's opinion that the technical information disclosed in this press release is reliable.

Please visit our website to learn more about Brigadier Gold.

About Brigadier Gold Limited

Brigadier was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement. Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.

For further information, please contact:

Brigadier Gold Limited
www.brigadiergold.ca
Robert Birmingham, Chief Executive Officer
rob@brigadiergold.ca
Leah Hodges, Corporate Secretary
(604) 377-0403

Reader Advisory

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

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

SOURCE: Brigadier Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/649068/Brigadier-Makes-Copper-Discovery-at-Picachos

VANCOUVER, BC, May 26, 2021 /CNW/ – South Star Mining Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF) is pleased to announce that it is changing its corporate name to South Star Battery Metals Corp. Effective at the opening of trading on Wednesday, May 26, 2021, the common shares of the Company will commence trading on the TSX Venture and OTC Exchanges under the new name. The stock symbols remain the same.

Shareholders holding South Star share certificates can request a replacement certificate with the new Company name, but new certificates are not required and will not be automatically issued. There is no change in the capitalization structure of the Company in connection with the change of the name.

The name change highlights the evolution of the target markets and growth strategies for the Company over the mid- to long-term. Richard Pearce, President and CEO of South Star, commented: "We are pleased to announce the name change, which we believe is more aligned with our vision of where we create the most value for clients, shareholders and stakeholders, as well as the Company's strategic growth initiatives for the coming years. Over the past few weeks, we released fantastic news regarding offtake agreements and excellent testing results for expandable and purified graphite products. The news highlights the high-quality, high-purity and low-contaminate nature of South Star's concentrates and purified graphite, as well as strong market demand for sourcing product. The superior testing results open a world of commercial opportunities for premium value-add products with strong margins.

We are in the process of transitioning from a development company to a producing mine with commercial operations planned for September 2022. Brazil is already a critical battery metals jurisdiction providing high-quality products and important supply-chain diversification. South Star will be a key player and part of the long-term solution with secure, high-quality industrial minerals and battery metals for the clean energy revolution. We are quickly building South Star into the first new graphite operation in continuous commercial production in the Americas in more than a decade."

About South Star Battery Metals Corp.

South Star Battery Metals Corp. is focused on the selective acquisition and development of near-term production projects in Brazil. South Star is driven to create fundamental value in the industrial minerals and battery metals sectors for clients and investors with real projects that have strong intrinsic financial and operating metrics, and that can be profitable throughout the resource cycles. South Star has an experienced executive team with a strong history of discovering, developing, building and operating profitable mines in Brazil.

The Santa Cruz Graphite Project, located in Southern Bahia, is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. The Project has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing.

The Santa Cruz project is being developed in a phased approach. Phase 1 operations for the 5,000 tpy pilot plant operations are fully licensed, and the Company is preparing to start construction in September 2021 with commercial production targeted for Q4 2022. Phase 2 operations will represent a larger-scale concentration plant currently planned to produce between 25,000 to 30,000 tpy of concentrate. The sizing of the Phase 2 plant could be increased depending on the successes of the Phase 1 operations, ongoing development of commercial relationships, and market conditions.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.

On behalf of the Board,

Mr. Richard Pearce
Chief Executive Officer

Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/

CAUTIONARY STATEMENT

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

This news release and the Updated Technical Report contain references to inferred resources. The Report is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

FORWARD-LOOKING INFORMATION

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

View original content to download multimedia:http://www.prnewswire.com/news-releases/south-star-mining-announces-name-change-to-south-star-battery-metals-corp-to-highlight-evolution-in-growth-strategy-301299396.html

SOURCE South Star Mining Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c5034.html

(Expressed in United States dollars except where otherwise indicated)

MONTREAL, May 25, 2021 (GLOBE NEWSWIRE) — (TSXV: GMN) GobiMin Inc. (“GobiMin” or the “Company”, together with its subsidiaries collectively the “Group”) reports its financial and operating results for the first quarter of 2021. The unaudited condensed interim consolidated financial statements along with quarterly highlights of management’s discussion and analysis have been filed with SEDAR (www.sedar.com) and are also available at the website of the Company (www.gobimin.com).

Financial Highlights

Business Summary and Development

1. Gold Project in Xinjiang

The Company owns a 70% equity interest in Xinjiang Tongyuan Minerals Limited which holds the Sawayaerdun Gold Project (the “Gold Project”) in Xinjiang. Its exploration licence had been renewed with expiry date on August 22, 2021. Its mining licence expired on December 23, 2019 and the renewal process involved multiple approval levels. The application procedures were delayed attributable to the work piled in government authorities during the COVID-19 pandemic and additional time required for finalizing the resources assessment on the Gold Project by an independent valuer. As at the date of this report, approvals from the Department of Natural Resources of all of the county, prefecture and region levels were confirmed. The renewed mining licence is expected to be issued after settlement of the mining royalties amounting to $1.46 million (equivalent to RMB9.56 million).

The on-site industrial test on applying bio-tech methodology on extraction of metals from large-scale samples of gold ores was running behind the schedule attributable to the pandemic in 2020. As suggested by the experts from the Research Institute, three-shift rotation schedule has been implemented to accelerate the test progress in the mine site. According to the analysis results on the ore samples and the immersion gold tests conducted by the Research Institute, arsenic and iron in the ore samples have been successfully removed by oxidation. After the pre-oxidation stage and subject to the analysis result of the samples, the industrial test would enter into the final stage of immersion gold process in late 2021.

For the three months ended March 31, 2021, there was no addition to exploration and evaluation assets. As at March 31, 2021, the Group had a contractual commitment of $1,628,000 for the future development of the Gold Project.

2. Financial Assets

(i) Listed Securities

As at March 31, 2021, the fair value of listed securities held by the Group amounted to $757,000 (December 31, 2020: $247,000) which include $664,000 (December 31, 2020: $127,000) investment in listed stock, futures and options trading through registered brokerage firms in Hong Kong and $93,000 (December 31, 2020: $120,000) for a listed stock in Canada. For the three months ended March 31, 2021, the loss on trading of listed stock, indexes, futures and options amounted to $114,000 (three months ended March 31, 2020: $39,000) and fair value loss was $52,000 (three months ended March 31, 2020: $80,000).

(ii) Unlisted Investments

The Group holds 670,000 shares of Dragon Silver Holdings Limited (“Dragon Silver”) representing 9.90% of its total issued capital at an investment cost of $1.1 million (equivalent to HK$8,710,000). Dragon Silver is a Hong Kong based company which mainly engaged in trading, production, processing and investment in precious metals and non-ferrous metals and related products.

In consideration of the continuous difficult market conditions and the impact of COVID-19, the Group agreed to waive the profit guarantee compensation further for the years ended June 30, 2021 and 2022 as requested by the guarantor who committed to continue the payment of the dividend guarantee compensation for the Relevant Years.

There is no material update on the operations of Dragon Silver for the current period under review other than those disclosed in Annual MD&A. The carrying value of the investment together with the Dividend Guarantee, the Profit Guarantee and the Put Option as at March 31, 2021 was $1,286,000 (December 31, 2020: $1,286,000). Management considered that there were no material fair value changes for the investment in Dragon Silver for the three months ended March 31, 2021 (three months ended March 31, 2020: nil).

As at March 31, 2021, unlisted investments held by the Group other than Dragon Silver amounted to $257,000 (December 31, 2020: $257,000). During the period under review, the fair value loss on other unlisted investments was $3,000 (three months ended March 31, 2020: $10,000).

(iii) Debentures and Certificate of Deposit

The Group would invest in debentures and certificate of deposit bearing low risks and reasonable interest return from various industries through the open market. Debentures are held to receive coupon interest payments as well as to realize potential gains. The Group may dispose of debentures through the open market when the Group requires funds for operational or other investment needs.

As at March 31, 2021, the Group held debentures of $2,748,000 (December 31, 2020: $2,741,000) with coupon rates ranged from 4.250% to 7.375% (December 31, 2020: 4.250% to 7.375%) per annum and maturities ranged between May 31, 2021 and perpetual (December 31, 2020: May 31, 2021 and perpetual).

3. Liquidity and Capital Resources

As at March 31, 2021, working capital of the Group was amounted to about $20,763,000 (December 31, 2020: $21,306,000), which is computed by netting off its current assets of $23,349,000 (December 31, 2020: $23,842,000) with its current liabilities of $2,586,000 (December 31, 2020: $2,536,000).

Taking into account of its financial position, management of the Group considered that its cash and cash equivalents will be more than sufficient to finance its operation, including the contractual commitments of the Gold Project of approximately $1,628,000 as at March, 31 2021 (December 31, 2020: $1,633,000).

For further information, please contact:

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management of GobiMin. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. Forward looking information includes without limitation, statements regarding the size and quality of the Company’s mineral resources, progress in development of mineral properties, the prospective mineralization of the properties, and planned exploration programs. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and GobiMin assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.

“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.”

To receive GobiMin press releases by email, send a message to info@gobimin.com and
specify “GobiMin press releases” on the subject line
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Just because a business does not make any money, does not mean that the stock will go down. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So, the natural question for Tinka Resources (CVE:TK) shareholders is whether they should be concerned by its rate of cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

View our latest analysis for Tinka Resources

When Might Tinka Resources Run Out Of Money?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In March 2021, Tinka Resources had CA$7.3m in cash, and was debt-free. Looking at the last year, the company burnt through CA$7.8m. So it had a cash runway of approximately 11 months from March 2021. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.

How Is Tinka Resources' Cash Burn Changing Over Time?

Because Tinka Resources isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With the cash burn rate up 15% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Tinka Resources makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Tinka Resources Raise Cash?

Since its cash burn is moving in the wrong direction, Tinka Resources shareholders may wish to think ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Tinka Resources has a market capitalisation of CA$77m and burnt through CA$7.8m last year, which is 10% of the company's market value. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.

Is Tinka Resources' Cash Burn A Worry?

On this analysis of Tinka Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Even though we don't think it has a problem with its cash burn, the analysis we've done in this article does suggest that shareholders should give some careful thought to the potential cost of raising more money in the future. On another note, Tinka Resources has 3 warning signs (and 1 which is potentially serious) we think you should know about.

Of course Tinka Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) a mineral exploration company with assets in Kazakhstan and Mexico, is pleased to announce its intent to distribute shares of Arras Minerals Corp. (“Arras Minerals”) to Silver Bull shareholders.

As announced on April 1, 2021, Silver Bull transferred its Kazakh interests, including the Beskauga Option Agreement and the Ekidos and Stepnoe mineral licences, to Arras Minerals, a newly formed British Columbia incorporated company and currently an approximately 88%-owned subsidiary of Silver Bull. In return, Silver Bull received 36 million shares of Arras Minerals.

Silver Bull intends to distribute approximately 34.2 million shares of Arras Minerals to Silver Bull shareholders, which will result in one Arras Minerals share to be distributed to Silver Bull shareholders for each share of Silver Bull held. Upon completion of the distribution, Silver Bull anticipates retaining approximately 1.8 million Arras Minerals shares as a strategic investment, expected to represent approximately 4% of the outstanding Arras Minerals shares at the time of distribution. The Arras Minerals shares are not expected to be listed or posted for trading on any stock exchange immediately following the distribution. Accordingly, the Arras Minerals shares distributed to Silver Bull shareholders, though freely transferable in the United States, may be illiquid until such time as the shares are listed or a trading market develops, if at all. In Canada, shareholders of Arras Minerals will be able to trade their shares only pursuant to an exemption from prospectus requirements.

The proposed distribution of Arras Minerals shares to Silver Bull shareholders does not require shareholder approval, but is subject to certain conditions, including the registration of the Arras Minerals shares under the U.S. Securities Exchange Act of 1934 and final approval by the Board of Directors of Silver Bull. Silver Bull intends to complete the proposed distribution of the shares before the end of the third quarter of 2021, however the actual timing is subject to receipt of regulatory approvals and the final approval by the Board of Directors of Silver Bull.

Silver Bull will provide an update on record and distribution dates for the proposed distribution of Arras Minerals shares if and when it receives requisite approvals, including regulatory and board approvals.

Summary of Arras Minerals’ Assets

The Beskauga deposit is Arras Minerals’ material property and is an open pittable gold-copper-silver deposit with a NI 43-101 compliant “Indicated” Mineral Resource of 207 million tonnes grading 0.35 g/t gold, 0.23% copper and 1.09 g/t silver for 2.33 million ounces of gold, 476.1 thousand tonnes of copper, and 7.25 million ounces of silver and an “Inferred” Mineral Resource of 147 million tonnes grading 0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million ounces of gold, 220.5 thousand tonnes of copper, and 4.82 million ounces of silver.

The constraining pit was optimised and calculated using a net smelter return cut-off based on a price of: $1,500/oz for gold, $2.80/lb for copper, $17.25/oz for silver, and with an average recovery of 81.7% for copper and 51.8% for both gold and silver. Mineralization remains open in all directions as well as at depth.

Table 1. Pit-constrained Mineral Resource estimate for the Beskauga copper-gold project

The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.

On behalf of the Board of Directors
"Tim Barry"

Tim Barry, CPAusIMM
Chief Executive Officer, President and Director

INVESTOR RELATIONS:
+1 604 687 5800 info@silverbullresources.com

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This news release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the "SEC") under SEC Industry Guide 7. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however under SEC Industry Guide 7 the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this news release may not be comparable to similar information made public by U.S. companies that report under SEC Industry Guide 7 and are not subject NI 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull's future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements in this news release include, among others, statements regarding the proposed distribution by Silver Bull of shares of Arras Minerals to Silver Bull shareholders and the timing of such distribution. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull's exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in Silver Bull's Annual Report on Form 10-K for the fiscal year ended October 31, 2020 and our Quarterly Report on Form 10-Q for the interim period ended January 31, 2021 and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investment will provide foundation for a sustainable company within the new era for mining and a global move towards green electrification

VANCOUVER, BC, May 25, 2021 /CNW/ – Foran Mining Corp. (TSXV: FOM) (OTCQX: FMCXF) ("Foran" or the "Company") is pleased to announce that it has entered into a letter agreement pursuant to which Fairfax Financial Holdings Limited, through certain of its subsidiaries (collectively, "Fairfax"), will make a strategic CAD$100 million investment in the Company in exchange for the issuance by the Company of common shares, non-voting common shares, and warrants.

Fairfax has agreed to subscribe, on a private placement basis, for CAD$100 million in equity securities of Foran in two tranches (collectively, the "Financing"):

• Tranche 1 – CAD$50 million gross proceeds, comprised of 27,777,778 voting common shares (the "Common Shares") at a price of CAD$1.80 per Common Share, along with warrants to purchase an aggregate of 8,000,000 million Common Shares (the "Warrants"). The Warrants have an exercise price of CAD$2.09 per Common Share and an exercise period of five years.

• Tranche 2 – CAD$50 million gross proceeds, comprised of 27,777,778 non-voting common shares (the "Non-Voting Shares") at CAD$1.80 per Non-Voting Share, along with 8,000,000 Warrants.

The net proceeds of the Financing will be used to rapidly advance the development of the McIlvenna Bay project and centralized mill for the Hanson Lake district as well as further exploration in the Hanson Lake district, enable further investment in key technological and operational research and equipment, and general corporate purposes.

Foran believes the investment by Fairfax represents a significant endorsement of Foran's business model, the quality of its 100% owned McIlvenna Bay deposit and its wider Hanson Lake District, and its vision to build the world's first carbon neutral copper mine. This transaction greatly de-risks the business financially and is expected to bring a multitude of substantive synergies and benefits to Foran shareholders. Foran's resulting cash position of approximately CAD$120M and strategic partnership with Fairfax will enable significantly accelerated development of the McIlvenna Bay project and its phase 1 centralized mill at the profound and prospective Hanson Lake district. Foran believes that Fairfax, like Foran, values integrity, honesty, doing meaningful work in an energetic way, and is proud to partner with Fairfax in addressing the need for carbon neutral materials extraction, and to grow Fairfax's investment in a meaningful, responsible, and disciplined manner.

Foran will continue to focus efforts on arranging the remaining debt component of its project financing, which efforts will be strengthened and supported by new access to Fairfax's global network of business partners. Foran will also continue working with its established banking partners with a focus on exploring potential ESG financial products that could enhance overall economics and investment returns for all stakeholders.

Prem Watsa, Chairman and Chief Executive Officer of Fairfax, said: "Fairfax is delighted to partner with Foran and to support its management team, led by Dan Myerson, in the creation of the world's first carbon neutral copper company. We are excited to invest alongside Pierre Lassonde and Darren Morcombe in a company with an excellent base of assets and a solid strategic plan for development, which we think represents an excellent opportunity for long-term growth and value-creation."

Pierre Lassonde, a key investor in Foran, also commented: "I cannot think of a better partner for any business than Prem and his Fairfax group. This is a wonderful development for Foran which is rewriting the textbook on how to create value in mining. We look forward to building this new age copper company together."

Dan Myerson, Executive Chairman of Foran said, "This investment and partnership is a pivotal moment in our company's short history and one that will shape our future for many years and decades to come, elevating us onto the world-stage. We are honored for this profound vote of confidence, in our vision and strategy, the Foran team, our stakeholders and the province of Saskatchewan and country of Canada.

About the Investment
Closing of the Financing is subject to the receipt of TSX Venture Exchange approval, the settlement of mutually agreeable definitive documentation (including the terms and conditions of the Non-Voting Shares), the receipt of all necessary Foran shareholder approvals, and other customary closing conditions. Further announcements will be made regarding details of the development of the mine at the McIlvenna Bay deposit and the expected closing date of each tranche of the Financing. Fairfax will not receive the right to appoint any members of the board of directors of Foran.

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

About Fairfax Financial Holdings Limited
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

About Foran Mining Corp.
Foran Mining is a copper-zinc-gold-silver exploration and development company, and we are planning to build the first mine in Canada designed to be carbon neutral from day one. We are in the feasibility stage of development for our flagship McIlvenna Bay project in eastern Saskatchewan. McIlvenna Bay is a copper-zinc-gold-silver rich VMS deposit intended to be the center of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km from Flin Flon, Manitoba and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran's ground in eastern Saskatchewan, a distance of over 225km.

McIlvenna Bay is the largest undeveloped VMS deposit in the region. The Company filed a NI 43-101 Technical Report for the PFS on the McIlvenna Bay Deposit on SEDAR on April 28, 2020.

Foran trades on the TSX.V under the symbol "FOM", and on the OTCQX under the symbol "FMCXF".

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative 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. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: about the closing of the Financing (if at all), the use of proceeds of the Financing, the approval of the TSX Venture Exchange relating to the Financing, receipt of any necessary shareholder approval and satisfaction of closing conditions; completion of the feasibility study in a timely manner, and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback period, process capacity, average annual metal production, average process recoveries, anticipated mining and processing methods, proposed PFS production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, future financial or operating performance of the Company, subsidiaries and its projects; estimation of mineral resources, exploration results, opportunities for exploration, development and expansion of the McIlvenna Bay Project, its potential mineralization; the future price of metals; the realization of mineral reserve estimates, costs and timing of future exploration, the timing of the development of new deposits; requirements for additional capital; foreign exchange risk; government regulation of mining and exploration operations, environmental risks, reclamation expenses; title disputes or claims; insurance coverage; and regulatory matters. In addition, these statements involve assumptions made with regard to the Company's ability to develop the McIlvenna Bay Project and to achieve the results outlined in the PFS, and the ability to raise capital to fund construction and development of the McIlvenna Bay Project.

These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: risks relating to the Financing, volatility in the trading price of common shares of the Company, risks relating to the ability of the Company to obtain required approvals, complete definitive documentation and complete the Financing on the terms announced; our mineral reserve and resource estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the PFS; success of the Company's projects, including the McIlvenna Bay Project; prices for zinc, copper, gold and silver remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the projected and actual effects of the COVID-19 coronavirus on the factors relevant to the business of the Corporation, including the effect on supply chains, labour market, currency and commodity prices and global and Canadian capital markets, fluctuations in zinc, copper, gold and silver prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Canada, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information.

These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information.

SOURCE Foran Mining Corporation

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Calgary, Alberta–(Newsfile Corp. – May 25, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, due to market conditions and other various factors, it will not pursue final approval from the TSX Venture Exchange (the "TSXV") in respect of its previously announced disposition of a contractual royalty by way of the issuance of Royalty units (the "Royalty Transaction").

The Company is currently in the midst of evaluating various business opportunities and it will continue to monitor market conditions while considering opportunistic transactions that maximize shareholder value, including a potential reapplication to the TSXV for conditional approval of the Royalty Transaction at a later date.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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 OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85231

• Field work to commence in June

• Follow-up diamond drill program to commence this summer

• Further testing of new Cu-Au Bench zone to take place

Vancouver, British Columbia–(Newsfile Corp. – May 25, 2021) – Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9U) ("Mountain Boy" or the "Company") announces that field work will soon commence on the American Creek Project and will include a fully funded drill program focused on the Company's namesake historic Mountain Boy silver mine.

The American Creek Project is a 2,600-hectare property located 20 kilometres north of Stewart. The project is road accessible and a high voltage transmission line passes 5 km to the south.

Initial fieldwork, set to commence mid-June, is intended to refine follow-up drill targets around the High-Grade zone at the Mountain Boy silver mine.

Drilling last year demonstrated that the shallow structures intersected in drill holes are base metal rich and likely represent one of several mineralizing pulses in the epithermal system. This season's drilling will target steeper cross structures and localized ore shoots and will be guided by additional mapping. A detailed structural mapping and 3D modelling initiative will take place before an initial phase I drill program of up to 1500 metres commences.

In 1999 and 2000, 51.6 tonnes of material were extracted from the High-Grade vein and sent to the Cominco smelter in Trail, BC. The documented grades of 13.6 tonnes of this material is 18.854 kilograms per tonne silver, 1.1% zinc and 2.5 % lead (Assessment Report 29066). The exceptional grades demonstrate why this is still such a compelling target.

The current program will include follow-up and channel sampling on the Wolfmoon zone. Bedrock sample 71545 was taken two-kilometers to the north-northwest of the Wolfmoon zone and returned 1,488 grams per tonne silver, 1.14% lead, 0.54% zinc and 3.05 grams per tonne gold, demonstrating the potential for considerable strike length to this style of mineralization (see February 24, 2021 news release).

The Bench zone will also be examined. Mapping and channel sampling of this zone will attempt to determine whether it is part of the epithermal mineralization or a separate mineralizing event. Last field season, surface samples returned gold and copper values including sample 71681 at 4.8 grams per tonne gold, 4.5% copper, and 32 grams per tonne silver (see February 24, 2021 news release).

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway.

3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a recent grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.

6. The Telegraph project has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle.

Mountain Boy is funded for the coming field season and plans to advance these projects, including drilling on select project(s).

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:
Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

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.

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release 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 events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84857

VANCOUVER, BC, May 25, 2021 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") is pleased to report that it has commenced its surface diamond drill program at the Revel Ridge Project. The program has been designed to explore the gold-silver-lead-zinc mineralization over an approximate length of seven kilometers of the Revel Ridge Structural Deformation Zone. The initial ~7,000 m first phase will target near surface resource immediately on-strike to both the Main and Yellowjacket Zones, as well as testing several additional high-grade occurrences four to five kilometers north and northwest of the 832 m Level Portal.

John Mirko, President and CEO and Rokmaster, commented: "We are at an exciting juncture as we expand from our very successful underground drill program to drilling from surface. The first phase of our underground drill program strongly confirmed and expanded on the exceptional continuity of the gold rich Main Zone mineralization and the silver-zinc rich Yellowjacket style mineralization. Our geological testing and prospecting team have traced promising surface showings from the 2020 sampling program which identified exposures of gold-silver-lead-zinc mineralization along a seven kilometer strike length, including the Zinc Creek, A&E, and Roseberry Zones. Historical rock and soil geochemical surveys, geological prospecting and limited diamond drill programs all strongly suggest that the probability of expanding both the gold rich Main Zone style mineralization and silver-zinc rich Yellowjacket style mineralization is high."

Final compilation of the assay results from the last nine diamond drillholes of the phase one 2021 underground drill program are currently underway and final results are expected to be available shortly.

The technical information contained in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Mark Rebagliati, P. Eng., FEC, who is independent of Rokmaster.

On behalf of the Board of Directors,

"John Mirko"

John Mirko, President and Chief Executive Officer.

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 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 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 events or results or otherwise.

SOURCE Rokmaster Resources Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/25/c9138.html

OTTAWA, May 25, 2021 (GLOBE NEWSWIRE) — Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN1) (Berlin:GWN1) (OTC:CTNXF) is pleased to announce the following drilling update on its Tandayama-America (TAM) porphyry copper-gold mineralized target located 3km north of the Alpala Deposit¹ at its Cascabel copper-gold porphyry joint venture project in northern Ecuador in which Cornerstone has a 15% interest² financed through to completion of a feasibility study plus 6.86% of the shares of joint venture partner and Project operator SolGold Plc, for a total direct and indirect interest in Cascabel of 20.8%.

Figures referenced in this news release can be viewed through the following link: https://cornerstoneresources.com/site/assets/files/5816/nr21-12figures.pdf.

Highlights

• Drilling at the Tandayama-America Porphyry Copper-Gold target at Cascabel has intersected significant copper and gold mineralization.

• Selected highlights of drill hole assays received from Holes 1 to 7 include:

  • Hole 1: 531m @ 0.30% copper equivalent (CuEq)³ (from 220m), including 272m @ 0.44% CuEq (from 350m)

  • Hole 3: 1,040m @ 0.33% CuEq (from 252m), including 350m @ 0.45% CuEq (from 632m)

  • Hole 5: 426m @ 0.37% CuEq (from 218m), including 342m @ 0.43% CuEq (from 230m)

  • Hole 7: 522m @ 0.38% CuEq (from 230m), including 230m @ 0.44% CuEq (from 276m)

• Assay results from drill holes 8-10 are pending, and drilling of Holes 9 and 10 is continuing.

• Mineralization at TAM forms a northwest trending corridor, occupying an area 750m long x 500m wide extending from surface to a depth of over 1,200m. Further drilling aims at defining the extent mineralization towards the northwest, the southeast and at depth where the mineralization remains open.

• Due to the significance of results achieved thus far at TAM, additional diamond drill rigs are to be mobilized to expedite drilling, ahead of a planned National Instrument 43-101 compliant Maiden Mineral Resource Estimate later in 2021.

SolGold Executive Board Member and ENSA President, Jason Ward, commented on the results at TAM:

“Significant copper and gold mineralization at the TAM target will add to the already impressive metal inventory at Alpala. The recent drilling results at TAM are indicative of a significant prospective resource that appears amenable to bulk surface mining methods. This seems likely to have a major beneficial impact on the development of the Cascabel property as a whole and the further upside of a potentially significant deep target beneath TAM is certainly adding excitement to the growing possibilities at Cascabel.”

* The reader is cautioned that there has been insufficient exploration to define a mineral resource at TAM and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Further Information

The TAM target lies approximately 3km north of the Alpala Deposit, located on the Cascabel concession within Imbabura Province in northern Ecuador. The project area lies approximately 100 km north of the capital city of Quito and approximately 50 km north-northwest of the provincial capital, Ibarra (Figure 1).

Selected highlights of drill hole assays received from Holes 1 to 7 include⁴:

Selected examples of mineralization encountered at TAM to date are provided in Figure 2.

Drilling at TAM continues with three diamond drill rigs and further expansion of the TAM drilling fleet is planned (Figure 3).

Cross sections through the centre of the target are provided in Figure 4.

The intersection of noteworthy porphyry stockwork mineralization encountered in Hole 9 in the deeper portions of the drilling area contains high abundance of B-type quartz-chalcopyrite veining (Figure 5). This intense mineralization hosted within a pre-mineral intrusive breccia host rock suggests that a fluid-rich source intrusion may be intersected through further drilling at depth, and indicates the potential for a deeper bulk underground target that may lie beneath the current drilling area. Further drilling is planned to test for the potential of a deep-rooted porphyry system.

Mineralization at TAM forms a northwest trending corridor, occupying and area 750m long x 500m wide extending from surface to a depth of over 1,200m. The TAM target lies open is several directions:

1. to the northwest and shallow

2. to the southeast from surface to unknown depth, and

3. at depth below the area of current drill testing

The 2021 proposed drilling program focuses on three main factors:

• drilling to define the northwest and southeast limits of mineralization amenable to bulk surface mining methods, and

• drilling to define the depth extent and character of mineralization with potential amenability to bulk underground mining methods, and

• resource infill drilling to increase drill density and geological confidence.

Qualified Person

Information in this report relating to the exploration results is based on data reviewed by Jason Ward ((CP) B.Sc. Geol.), the Chief Geologist of SolGold Plc, the Project operator. Mr. Ward is a Fellow of the Australasian Institute of Mining and Metallurgy, holds the designation FAusIMM (CP), and has in excess of 20 years’ experience in mineral exploration and is a Qualified Person for the purposes of National Instrument 43-101. Mr. Ward consents to the inclusion of the information in the form and context in which it appears.

Yvan Crepeau, MBA, P.Geo., Cornerstone's Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 20.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 6.86% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadoran company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact ir@cornerstoneresources.ca, or:

Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333

Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp

Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.

On Behalf of the Board,
Brooke Macdonald
President and CEO

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.

________________

¹ The Alpala deposit comprises 2,663 Mt at 0.53% CuEq in the Measured plus Indicated categories and contained metal content of 9.9 Mt Cu, 21.7 Moz Au and 92.2 Moz Ag. The deposit measures approximately 900m in height and 500m diameter. See “Cascabel Property NI 43-101 Technical Report, Alpala Porphyry Copper-Gold-Silver Deposit – Mineral Resource Estimation, January 2021” with an Effective date: 18 March 2020 and Amended Date: 15 January 2021 (the “Amended Technical Report”), filed at www.Sedar.com on January 29, 2021: https://cornerstoneresources.com/site/assets/files/5574/2101_cascabel_mre3.pdf.

² See “About Cornerstone” below.

³ Copper Equivalent is currently calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal copper price of US$3.30/lb and a gold price of US$1,700/oz.

⁴ Significant down-hole drill intercepts are reported using a data aggregation method based on copper equivalent (CuEq) cut-off grades with up to 10m internal dilution, excluding bridging to a single sample and with minimum intersection length of 50m.

True width of down-hole intersections reported are expected to be approximately 35-95% of the down-hole lengths, depending on the attitude of the drill hole.

Primary Target Is 1,800 Metre Long Gold Trend A

MIRAMICHI, New Brunswick, May 25, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has commenced the 2021 trenching program on its wholly-owned Menneval gold project located in the mineral-rich province of New Brunswick. Targets include numerous new gold veins discovered in 2020 and potential extensions associated with gold soil trends A to D.

Targets include three veins: No 2, No 18 and No 22 where the Company reported visible gold in 2020. Grab samples from the No 2 vein ranged up to grading 363.00 g/t and up to 11.30 g/t in vein No 22. Multiple sites of visible gold were supported by assay results grading 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick as reported December 03, 2020. These veins are part of a swarm of gold-bearing veins extending eastward over a strike-length of 1,100 m. This vein system has only been tested intermittently and is open eastward.

The initial trenching targets are gold soil trends A, B, C and D. Trend A is a 150 m wide by of 1,800 m long region of elevated gold ranging from 20 ppb to 206 ppb gold in soils reported on January 19, 2021. Trend B is a 600 m long parallel trend between the high grade Maisie vein and the new gold vein discoveries. Trend C is a 200 m long anomaly ranging from 46 ppb to 102 ppb gold. Trend D is a 700 m long cross-cutting trend. The intersection of gold trends A and D is a priority gold trenching target.

The Menneval Project: The Menneval Gold project is SLAM’s flagship project and the Company intends to focus on testing the strike and depth extent of the swarm of new gold veins discovered in 2020. The expanded property is comprised of 572 mineral claim units covering 12,390 hectares located in northwestern New Brunswick. The Company holds a 100% interest in these claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR.

Appalachian Gold Structure Model: The Menneval gold discoveries occur on the flank of a major Appalachian structure known as the Restigouche fault. Most other gold deposits in New Brunswick are associated with similar Appalachian structures such as the Millstream Break, Sawyer Brook and Wheaton Bay faults. Major Appalachian structures are associated with the Valentine, Moosehead, Queensway and many other gold deposits in Newfoundland, with the Haile gold mine in South Carolina and with the Dalradian gold project in Ireland. Other New Brunswick examples supporting this Appalachian gold structure model include gold discoveries by Puma Exploration Inc. (PUMA.V) near the Millstream Break and by Galway Metals Inc. (GWM.V) near the Sawyer Brook fault.

About SLAM Exploration Ltd:

SLAM is a project-generating resource company focused on is its flagship Menneval Gold project where the 2021 trenching program is underway. The Company intends to conduct preliminary prospecting and geochemistry on the Gold Brook, Birch Lake gold, Wilson gold and Ramsay gold projects in the vicinity of the Millstream Break in northern New Brunswick. SLAM also expects to conduct preliminary programs on the Jake Lee, Mount Victor and other gold properties on the flanks of the Sawyer Brook and Wheaton Bay faults in southern New Brunswick. SLAM owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario and the Mount Uniacke gold project in Nova Scotia. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject to an option agreement. SLAM holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the BMC.

The Company has generated cash from the sale of securities received from mineral property option agreements with other companies and has sufficient funds for the work currently in progress. The Company has applied for funding assistance up to $100,000 under the New Brunswick Junior Mining Assistance Program in support of a proposed 2021 drilling program. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

QA-QC Sampling Procedures
The trenching and soil geochemical results referenced above were previously reported as were the QA-QC Sampling Procedures.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company 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 the Company. There are a number of 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 www.sedar.com. 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.

CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca

SEDAR: 00012459E

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN) is pleased to announce that the Company has entered into a binding share purchase agreement (the "SPA") with Centaur Resources ("Centaur") to acquire its wholly owned subsidiary, Centaur Resources Holding Pty Ltd, which indirectly owns 100% of the Sal de la Puna lithium brine project ("Sal de la Puna", or the "Project"), covering 11,000 hectares of the Pastos Grandes basin in Argentina. The Company was previously assigned the right to acquire the Project pursuant to a binding memorandum of understanding (the "MOU") with LITH-ARG Acquisition LLC ("LITH-ARG"), as further described in the press release dated March 29, 2021.

The Sal de la Puna Project

The Sal de la Puna Project covers approximately 11,000 hectares of the Pastos Grandes basin located in the Puna region of Salta province at an average elevation of 4,000 metres above sea level. The project hosts a large portion of the Pastos Grandes salar adjacent and south of Millennial Lithium’s (TSX.V:ML) 12,700 hectare Pastos Grandes project and Litica’s Pozuelos-Pastos Grandes project which shares the northern portion of the same salar. Litica is a subsidiary of Latin American leading oil and gas producers PlusPetrol S.A., who acquired LSC Lithium in 2019 giving them ownership of their lithium assets in Argentina. The Sal de la Puna project is also located 50 km north of Lithium X Energy Corp.’s project, which was sold for $265 million in 2018, where Mr. Morales and Mr. Randall were senior executives.

Approximately $22 million has been invested in the property by the current private operators/owners, including approximately $13 million in work completed at Sal de la Puna over the last 5 years. Work included drilling of three wells including a pumping well to around 600 metres below surface, pumping tests, seismic & TEM geophysical surveys. The drilling was carried out on a portion of the Alma Fuerte, one of the nine 100% owned claims.

The SPA

Arena will acquire 100% of the shares on issue in Centaur Resources Holdings Pty Ltd for an approximate aggregate remaining purchase price of USD 14,500,000. The aggregate remaining purchase price takes in consideration a total purchase price of AUD 23,266,341 (approximately USD 17,995,000) (the "Price”) and discounting USD 3,500,000 paid to Centaur by LITH-ARG.

Arena has agreed to advance Centaur an loan of USD 1,000,000, secured by a first ranking charge over Centaur's assets, within 2 business days after the date of the SPA to assist Centaur in delivering the Project on a debt free basis (the "Loan"). The Loan is to be repaid at closing by being credited against the Price.

Closing of the transaction under the SPA is subject to receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange. It is also subject to, among other things, the shareholders of Centaur voting (by 51% majority) in favour of a resolution to approve the transaction, as well as Arena being satisfied with its ongoing due diligence investigations. Closing of the acquisition of the Project is expected to take place before July 20, 2021, and a further press release will be issued by the Company upon closing.

At closing, the Loan and a deposit of AUD 4,454,791.09 (USD 3,500,000), which was previously paid to Centaur by LITH-ARG, will be credited against the Price. AUD 2,000,000 of the Price will be held in escrow for a period of 12 months after closing to fund the costs of ongoing litigation affecting Centaur Resources PG S.A.S (Sociedad por Acciones Simplificada), being the Argentinian subsidiary entity that owns the Project.

The technical information contained in this news release has been reviewed and approved by William Randall, P.Geo, who is a Qualified Person as defined under NI 43-101. As President and Chief Executive Officer of the Company, Mr. Randall is not considered independent.

About Arena Minerals Inc.

Arena owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products.

Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district.

For more information regarding the Company, its management, expertise, and projects, please visit www.arenaminerals.com. An email registration allowing subscribers to directly receive news and updates is also available on the website.

For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com.

On behalf of the Board of Directors of: Arena Minerals Inc.

William Randall, President and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information

This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to private placement financings, the ability of the Company to complete private placement financings, results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project in Chile, the Antofalla, Hombre Muerto or Pocitos Projects in Argentina, and the Company's ability to obtain financing. 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". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the "Company") invites individuals, institutional investors, advisors and analysts to attend its real-time, interactive presentation at the Emerging Growth Conference.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210525005320/en/

Lomiko: Materials for a new economy (Graphic: Business Wire)

Lomiko will present at the Emerging Growth Conference on May 26^th, 2021 12 noon EST, 9 am PST, for 30 minutes. Please REGISTER here to ensure you are able to attend the conference and receive any updates that are released. This live interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s CEO A. Paul Gill in real time.

The focus of the presentation will be recent developments in the Battery Materials market, the pending Preliminary Economic Assessment (PEA) at the La Loutre Graphite Project and exploration at the new Bourier lithium project. On Monday May 24^th, 2021 Quebec graphite companies received welcome news that Nouveau Monde (NYSE: NMG) started trading on the New York Stock Exchange, bringing much needed attention to the graphite and lithium developers in Quebec.

Mr. Gill will perform a presentation and may subsequently open the floor for questions. Please ask your questions during the event, and try to get through as many of them as possible.

If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com. We will also release a link to that after the event.

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth. Its audience includes potentially tens of thousands of individual and Institutional investors, as well as Investment advisors and analysts.

All sessions will be conducted through video webcasts and will take place in the Eastern time zone.

About Lomiko Metals

Lomiko Metals holds a 100% interest in its La Loutre graphite development in southern Quebec. Located 117 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 42 minerals claims totalling 2,509 hectares (25.1km²). Lomiko also optioned The Bourier project consisting of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km²) in a region of Quebec that boasts other lithium deposits and known lithium mineralization, as shown in the maps and table below. The Bourier project is potentially a new lithium field in an established lithium district.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.

On Behalf of the Board,

"A. Paul Gill"
Chief Executive Officer

We Seek Safe Harbour. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210525005320/en/

Contacts

Lomiko Metals
A. Paul Gill
604-729-5312
info@lomiko.com

Vancouver, British Columbia–(Newsfile Corp. – May 25, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces a strategic investment in the form of a private placement (the "Placement") of up to 13,000,000 units (the "Units") at a price of $0.30 per Unit (the "Offering") for gross proceeds of up to $3,900,000. Each Unit will consist of one common share of the Company (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.45 per share.

The strategic investment comes from Acotango Resources B.V. Group (the "Group"). The Group has extensive knowledge of the European battery market.

Hendrik van Alphen, CEO of Wealth, commented: "This is part of Wealth`s strategy to advance our corporate development for the benefit of shareholders."

Finder's fees may be payable to arm's length parties that have introduced the Company to certain subscribers participating in the Offering. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. Closing of the Offering is subject to the approval of the TSX Venture Exchange.

The net proceeds from the Offering are intended for general corporate purposes.

This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial licenses package.

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors ofWEALTH MINERALS LTD.

"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer

For further information, please contact:

Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com

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 news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, 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. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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 in this news release or incorporated by reference herein, except as otherwise required by law.

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85041

LONDON and VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) — Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that it has released the Financial Statements and Management's Discussion and Analysis for the period ending March 31, 2021. The reports will be available under the Company's profile on SEDAR (www.sedar.com) and on the Company's website (https://mkango.ca/investors/financials/).

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

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Vancouver, British Columbia–(Newsfile Corp. – May 25, 2021) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") is pleased to announce initial drill results from Rio Tinto Exploration Canada's (RTEC) fourth drill target on Forum's 100% owned Janice Lake copper/silver project in Saskatchewan. RTEC plans to continue its drill program beginning in June to follow up on these results on the Rafuse target.

Assays from the first four holes on the Rafuse target are:

• JANL0022 – No intercept.

• JANL0023 – 0.325% copper and 2.04 g/t silver over 48 metres (19m to 67m) including 1.78% copper and 9.25 g/t silver over 3.15 metres (33m to 36.15m)

• JANL0024 – 0.28% copper and 2.00 g/t silver over 76.5 metres (71.5m to 148m) and 0.20% copper and 1.58 g/t silver over 18 metres (188m to 206m)

• JANL0025 – 0.16% copper and 1.74 g/t silver over 8 metres (21m to 29m)

Ken Wheatley, Forum's Vice President, Exploration stated, "We are encouraged that thick intervals of copper mineralization with a higher grade section of +1% copper have been intersected from surface to a depth of 200 metres. Rio Tinto plans to continue drilling along the remaining one and half kilometres of strike potential at Rafuse this summer. Thick intervals of copper mineralization have now been intersected by drilling for over 5 kilometres on the property on four different targets."

This is RTEC's second drill campaign on the 52 kilometre long Janice Lake property. RTEC drilled 5,209 metres in 21 holes in 2019 on three targets – Jansem, Janice and Kaz. Nine holes for a total of 2,330 metres were drilled in February and March 2021 on the Rafuse target, a 2.8 kilometre long priority target of surface copper mineralization. Three drill fences at 200 metre spacings for a total strike length of 650 metres have been tested (Figure 1). Further results from the remaining five holes are expected in the coming weeks.

Figure 2 is a cross section of the first drill fence which illustrates one copper interval ranging in thickness from 48 metres to 76.5 metres starting from surface to a depth of 150 metres and a second copper interval of 18 metres starting at 200 metres, both of which are open at depth.

Figure 1: Plan Map of the Rafuse Target. Background is from the airborne magnetic survey, with red colours indicating magnetic highs.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/85042_62c4ef8d349d8a43_003full.jpg

Figure 2: Cross Section JANL-22 to 25 with interpreted geology.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/85042_62c4ef8d349d8a43_004full.jpg

Quality Control/ Quality Assurance

Core samples were sawed in half, keeping the half with the reference line for orientated core in the box. Samples averaged 2 metres in length through the mineralized zone, 4 metres in length in the unmineralized zone, however these lengths varied depending on stratigraphy, alteration or mineralization. Standards were introduced after every 20^th sample, using a high grade, low grade or unmineralized, depending on the surrounding core. Duplicates were also introduced on every 20^th sample, quartering the core. Blanks were used for the first sample of the hole and at the beginning and end of a mineralized interval, using certified rose quartz. A 4-acid digestion was used on the samples at ALS lab in Vancouver, followed by analysis by ICP-MS (the ME-MS61L package).

Ken Wheatley, P.Geo., Forum's VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

CONFERENCE CALL INFORMATION

FORUM will host a conference call after market on May 25^th, 2021 at 1pm PST / 4pm EST with CEO Rick Mazur and VP Exploration Ken Wheatley to go over the drill results and a technical and market overview of the Janice Lake Copper Joint Venture with Rio Tinto.

A question and answer period will follow.

FMC Forum Energy Metals Results Technical Overview Discussions Chat
https://us02web.zoom.us/j/88529136791?pwd=VWVGNFo0QVlQK1U3cEM5bjA1bEVUdz09

Meeting ID: 885 2913 6791
Passcode: 659784
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Participant Dial-In Numbers are available as well (Toll-Free)
Canada (Vancouver) +1 778 907 2071
Canada (Toronto) +1 647 374 4685

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+1 929 436 2866 US (New York)
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About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) has three 100% owned energy metal projects being drilled in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

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.

For further information contact:

NORTH AMERICA

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 778-772-3100

UNITED KINGDOM

Burns Singh Tennent-Bhohi, Director
burnsstb@forumenergymetals.com
Tel: 074-0316-3185

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85042

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

So, the natural question for Rockhaven Resources (CVE:RK) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

View our latest analysis for Rockhaven Resources

How Long Is Rockhaven Resources' Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at March 2021, Rockhaven Resources had cash of CA$4.7m and no debt. Looking at the last year, the company burnt through CA$639k. That means it had a cash runway of about 7.4 years as of March 2021. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. You can see how its cash balance has changed over time in the image below.

How Is Rockhaven Resources' Cash Burn Changing Over Time?

Because Rockhaven Resources isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Over the last year its cash burn actually increased by 35%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Rockhaven Resources makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Rockhaven Resources Raise More Cash Easily?

Given its cash burn trajectory, Rockhaven Resources shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Rockhaven Resources' cash burn of CA$639k is about 2.3% of its CA$28m market capitalisation. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

Is Rockhaven Resources' Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Rockhaven Resources' cash burn. For example, we think its cash runway suggests that the company is on a good path. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Taking an in-depth view of risks, we've identified 2 warning signs for Rockhaven Resources that you should be aware of before investing.

Of course Rockhaven Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Vancouver, British Columbia–(Newsfile Corp. – May 25, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) (Santiago: SSVCL) ("Southern Silver" or the "Company") announces that it has entered into an agreement with Red Cloud Securities Inc. (the "Underwriter") to act as sole underwriter and bookrunner for the purchase for resale of 14,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit (the "Unit Price") on a "bought deal" basis under a private placement for gross proceeds of C$7,000,000 (the "Brokered Offering"). Each Unit shall be comprised of one common share in the capital of the Company (each a "Unit Share") and one half of one common transferable share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable into one common share of the Company (each, a "Warrant Share") at a price of C$0.75 at any time on or before the date which is 24 months after the closing date of the Brokered Offering.

In connection with the Brokered Offering, the Company will sell up to 4,000,000 Units at the Unit Price in a non-brokered private placement for additional gross proceeds of up to C$2,000,000 (the "Non-Brokered Private Placement", and collectively with the Brokered Offering, the "Offerings"). The Units sold under the Non-Brokered Private Placement will be identical to those sold under the Brokered Offering. Fort Capital Partners is acting as financial advisor to the Company in relation to the Offerings.

The Units will be offered by way of the "accredited investor" and "minimum amount investment" exemptions under National Instrument 45-106 – Prospectus Exemptions in all the Provinces of Canada. The Units may also be sold in offshore jurisdictions and in the United States to Qualified Institutional Buyers as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "1933 Act"), and to Accredited Investors as defined in Rule 501(a) of Regulation D under the 1933 Act, by way of a private placement basis pursuant to exemptions from the registration requirements of the 1933 Act.

The net proceeds from the Offerings will be used for exploration and advancement of the Company's Cerro Las Minitas silver-lead-zinc project located in Durango State, Mexico and for general working capital purposes. The closing of the Offerings are expected to occur on or about June 14, 2021 and is subject to receipt of all necessary regulatory and other approvals, including the listing of the Unit Shares and Warrant Shares on the TSX Venture Exchange. The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day from the date of closing of the Offerings in accordance with applicable Canadian securities laws and may be subject to resale restrictions in the jurisdiction of residents of non-Canadian purchasers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA.

On behalf of the Board of Directors

"Lawrence Page"
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.

For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.com.

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.

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. 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 the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85219