Vancouver, British Columbia–(Newsfile Corp. – September 7, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or "Company"), is pleased to announced today the appointment of Endeavour Financial to provide financial advisory services with respect to GoviEx's mine permitted Madaouela uranium project in the Republic of Niger (the "Madaouela Project").

Daniel Major, Chief Executive Officer, commented, "We look forward to working with the Endeavour Financial in developing the optimum financing solution for the Madaouela Project. Endeavour Financial provides a full service approach towards the financial advisory role including support on debt advisory, offtake finance and technical and environmental guidance. Endeavour Financial's track record in mine financing and especially in developing jurisdictions including Africa speaks for itself and their decision to work with GoviEx I believe underlines the quality of the Madaouela Project. We expect that ultimately production financing will be some combination of debt, royalties or streaming, and equity, with a focus on keeping the equity portion as low as possible."

David Rhodes, Managing Director of Endeavour Financial, commented, "Endeavour Financial is delighted to be able to work with the GoviEx team to evaluate and execute financing for the development of this high class asset in Niger, a country that since the 1970's has been a recognised and reliable major uranium producer."

About Endeavour Financial Limited (Cayman)

Endeavour Financial, with offices in London, UK, George Town, Cayman Islands and Vancouver, British Columbia, is one of the top mining financial advisory firms, with a record of success in the mining industry, specializing in arranging multi-sourced funding solutions for development-stage companies. Founded in 1988, Endeavour Financial has a well-established reputation of achieving success with over US$500 million in royalty and stream finance, US$4 billion in debt finance and US$28 billion in mergers and acquisitions. The Endeavour Financial team has diverse experience in both natural resources and finance, including investment bankers, geologists, mining engineers, cash flow modelers and financiers.

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

About GoviEx Uranium Inc.

GoviEx (TSXV: GXU) (OTCQB: GVXXF), is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Contact Information

Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those in relation to, (i) Endeavour Financial in developing the optimum financing solution for the Madaouela Project; and (ii) the nature and extent of project financing, if any, that Endeavour Financial will be able to develop for Goviex.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be able to secure acceptable project financing for the Madaouela Project; (ii) that the current uranium upcycle will continue and expand; (iii) that the integration of nuclear power into power grids world-wide will continue as a clean energy alternative and increase as dirty carbon baseload is taken off-line; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) Endeavour Financial not being able to develop project financing acceptable to GoviEx for the Madaouela Project; (ii) a regression in the uranium market price; (iii) inability or unwillingness to include or increase nuclear power generation by major markets; (iv) potential delays due to COVID-19 restrictions; (v) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (vi) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (vii) an increase in the Company's operating costs above what is necessary to sustain its operations; (viii) accidents, labour disputes, or the materialization of similar risks; (ix) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (x) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2020, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Cautionary Note to United States Persons: The disclosure contained herein does not constitute an offer to sell or the solicitation of an offer to buy securities of GoviEx.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95695

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

Additional highlights include 82.5m of continuous mineralization with 8.74m composite +10,000 cps

KELOWNA, BC, Sept. 7, 2021 /CNW/ – FISSION URANIUM CORP. ("Fission" or "the Company") is pleased to announce scintilometer results from the summer 2021 "metallurgical & geotechnical testwork" drilling on the R840W zone at its' PLS project, in the Athabasca Basin region of Saskatchewan, Canada. Four metallurgical holes and three geotechnical holes were completed as part of the Phase 1 feasibility study field work (see News Release June 10, 2021). All seven holes intersected mineralization with all four metallurgical and two geotechnical holes intersecting wide intervals of strong mineralization. They follow the recently announced, highly successful resource expansion drilling on the zone that hit high-grade mineralization in nineteen holes (see news release dated August 31, 2021). Of particular note, hole PLS21-MET-004 (line 615W) intersected 50.3m of continuous mineralization, including 28.5m of total composite radioactivity >10,000 cps (with a peak of 65,500 cps). Assays are pending. The metallurgical and geotechnical testwork drilling at the R840W is part of the data collection in anticipation that the R840W zone will be included in the Feasibility Study.

Ross McElroy, President and CEO for Fission, commented, "The metallurgical and geotechnical testwork holes on the R840W zone serve a dual purpose. They not only provide material and information necessary for uranium extraction, processing and to support mine design, they also provide assay data. These new drill results highlight the impressive potential of the shallow, high-grade R840W zone. In particular, PLS21-MET-004 is extremely well mineralized over a significant width and is drilled near the western extent of the R840W zone. The results also increase our confidence in reaching our goal of upgrading the zone for inclusion in the upcoming feasibility study."

Drilling Highlights

Highlight intersections from the drill program include:

• Hole PLS21-MET-004 (line 615W)

• Hole PLS21-MET-002 (line 765W)

• Hole PLS21-RM-001 (line 870W)

R840W Zone Metallurgical Holes
Four large diameter HQ holes were collared and drilled vertically spaced over 180m of strike length to collect representative mineralized rock samples to be used for metallurgical testwork. The testwork is to verify the process required to extract U₃O₈ efficiently and economically, and understand the grade variability and mineralogy impact on processing factors such as recovery of the R840W zone compared to the R780E zone.

R840W Geotechnical Testwork Holes
Three holes were collared as angle holes to collect rock samples to be used for geotechnical testwork. The testwork will verify the rock strength and ground conditions likely to be encountered, and provide data to be used in the design of ground support, tunnel and stope dimensions and mining sequencing. Additionally, samples were collected from the crown pillar area to analyse overall mining stability at the overburden/bedrock interface, to optimize ore recovery while maintaining overall mine stability.

Table 1: Drill Hole Summary – Metallurgical Holes

Table 2: Drill Hole Summary – Geotechnical Testwork Holes

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using either a hand-held RS-230, RS-125 or RS-121 Scintillometer, all manufactured by Radiation Solutions, which are capable of discriminating readings up to 65,535 cps. In each hole, natural gamma radiation is also recorded in a down-hole survey measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high-grade mineralization. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness. The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.

Samples from the drill core will be split in half sections on site and where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U₃O₈ (wt %) and fire assay for gold, and includes a 63 element ICP-OES analysis and boron. The other half of the split core remains on site for reference.

PLS Mineralized Trend & Triple R Deposit Summary

Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55 m to 100 m. R1515W is the western-most of the zones and is drill defined to ~90 m in strike-length, ~68 m across strike and ~220 m vertical and where mineralization remains open in several directions. R840W is located ~515 m to the east along strike of R1515W and has a drill defined strike length of ~430 m. R00E is located ~485 m to the east along strike of R840W and is drill defined to ~115 m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50 m. R780E is located ~225 m to the east of R00E and has a drill defined strike length of ~945 m. R1620E is located ~210 m along strike to the east of R780E, and is drill defined to ~185 m in strike length.

The Company completed and filed a prefeasibility "PFS" study on November 07, 2019 titled "Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada". The report summarizes the Pre-Feasibility Study ("UG PFS"), which outlines an underground-only mining scenario for PLS which to date has only considered the R00E and R780E zones. Further work, including additional drilling may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the Feasibility Study mine plan.

Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.

Patterson Lake South Property

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes the nearby Nexgen Arrow deposit located 3km to the east and UEX-Areva Shea Creek discoveries located 50km to the north.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., President and CEO for Fission Uranium Corp., a qualified person.

About Fission Uranium Corp.

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."

ON BEHALF OF THE BOARD

"Ross McElroy"

Ross McElroy, President and CEO

Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements 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", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: risks related to the Offering, risks related to Fission's limited business history, risks related to the nature of mineral exploration and development, discrepancies between actual and estimated mineral resources, risks related to uranium market price volatility, risks related to the market value of the common shares of Fission, risks related to market conditions, risks related to the novel coronavirus (COVID-19) pandemic, including disruptions to the Company's business and operational plans, risks related to the global economic uncertainty as a result of the novel coronavirus (COVID-19) pandemic and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/07/c0297.html

CORPUS CHRISTI, Texas, Sept. 7, 2021 /CNW/ – enCore Energy Corp. ("enCore") (TSXV: EU) (OTCQB: ENCUF) and Azarga Uranium Corp. ("Azarga") (TSX: AZZ) (OTCQB: AZZUF) (FRA: P8AA) are pleased to announce that they have entered into a definitive arrangement agreement (the "Agreement") whereby enCore will acquire all of the issued and outstanding common shares of Azarga pursuant to a court-approved plan of arrangement (the "Transaction"). The Transaction consolidates an industry leading pipeline of exploration and development staged in-situ recovery ("ISR") focused uranium projects located in the United States, including the licensed Rosita & Kingsville Dome past producing uranium production facilities in South Texas, the advanced stage Dewey Burdock development project in South Dakota, which has been issued its key federal permits, the PEA-staged Gas Hills Project located in Wyoming, and a portfolio of resource staged projects throughout the United States. The combined company will possess a uranium resource base of 90.0 million pounds in the measured & indicated category, 9.9 million pounds in the inferred category, as well as 68.4 million pounds in the historic category*.

Under the terms of the Agreement, Azarga shareholders will receive 0.375 common shares of enCore for each Azarga common share held (the "Exchange Ratio"). The Exchange Ratio implies consideration of $0.71 per Azarga common share based on the closing price of the enCore common shares on the TSX Venture Exchange on September 3rd, 2021.

Additionally, the Exchange Ratio will be subject to an adjustment mechanism at the closing of the Transaction (the "Closing Exchange Ratio"). The Closing Exchange Ratio shall be equal to the greater of: (i) the Exchange Ratio; or (ii) an exchange ratio calculated as $0.54 divided by enCore's 15-day volume-weighted average price prior to the closing of the Transaction, subject to a maximum Closing Exchange Ratio of 0.49 common shares of enCore for each share of Azarga outstanding.

Transaction Highlights

• Creation of a top-tier American uranium ISR mining company with multiple assets at various stages of development;

• Two licensed ISR production facilities and multiple potential satellite exploration and development projects in South Texas;

• Advanced stage Dewey Burdock development project in South Dakota with key federal permits issued;

• Recently published preliminary economic assessment for the Gas Hills project in Wyoming;

• Large uranium resource endowment in New Mexico including the Marquez-Juan Tafoya project, for which a recent preliminary economic assessment was published and the Crownpoint and Hosta Butte project;

• Well positioned to benefit from America's nuclear renaissance, which boasts bi-partisan political support; and

• Management team and board with unrivaled experience in the permitting, development, and mining of ISR uranium deposits in the USA.

Paul Goranson, CEO of enCore, commented: "enCore is delighted to combine our assets with those of Azarga. Dewey Burdock is an excellent ISR uranium project and we look forward to building upon Azarga's successes to create additional value through development progress and eventually production. In addition to the execution of plans for near term production in Texas and a dominant mineral position in New Mexico, this combination will see enCore take another leap forward towards realizing the goal of becoming a larger and more diversified uranium development company during a time of positive sentiment for nuclear energy."

Blake Steele, President & CEO of Azarga, further added: "We are pleased to partner with enCore as a result of this transaction, while realizing a material premium for shareholders in the process. Scale is important in the natural resource sector and this transaction will position the new company among the top uranium miners based in the USA. enCore possesses a great depth of uranium development and mining experience within its management team and board of directors. As such, we are confident that the combined portfolio will be in good hands for the benefit of both sets of shareholders."

William Sheriff, Executive Chairman of enCore, stated: "This strategic acquisition fills the gap in enCore's pipeline of projects with key intermediate development opportunities in Wyoming and South Dakota, in between initial production in Texas and longer-term opportunities in New Mexico. This second major acquisition for enCore within the last 12 months is in keeping with our announced aggressive M&A strategy which was successfully employed at Energy Metals Corp, which was sold for $1.6 billion during the last cycle. Consolidation in conjunction with an elite operational team are the keys to success in building a leading US ISR company."

Transaction Details

Pursuant to the terms of the Agreement, all of the issued and outstanding common shares of Azarga will be exchanged for common shares of enCore at the Closing Exchange Ratio. Outstanding and unexercised warrants and stock options to purchase common shares of Azarga will be adjusted in accordance with their terms based on the Closing Exchange Ratio.

The Agreement includes standard deal protection provisions, including non-solicitation, right-to-match, and fiduciary out provisions, as well as certain representations, covenants and conditions that are customary for a transaction of this nature, along with a termination fee of $4 million payable to enCore in certain circumstances.

The proposed Transaction will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia). The Transaction will require approval by at least 66 2/3% of the votes cast by Azarga shareholders and, if required by Multilateral Instrument 61-101, a simple majority of the votes cast by Azarga shareholders excluding certain interested or related parties, in each case by shareholders present in person or represented by proxy at a special meeting of the shareholders of Azarga to be called in connection with the Transaction (the "Azarga Special Meeting").

The Azarga Special Meeting is expected to be held in October or November 2021. An information circular detailing the terms and conditions of the Transaction will be mailed to the shareholders of Azarga in connection with the Azarga Special Meeting. All shareholders are urged to read the information circular once available, as it will contain important additional information concerning the Transaction.

Closing of the Transaction is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature, including, without limitation, court and stock exchange approval. Closing of the Transaction is anticipated to occur in November 2021.

None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Management and Board of Directors

The combined company will be managed by the current enCore executive team, led by Paul Goranson as CEO & Director, William Sheriff as Executive Chairman, Carrie Mierkey as Chief Financial Officer, and Dennis Stover, as Chief Technical Officer. Blake Steele, current President & CEO of Azarga, will continue as a Strategic Advisor to the combined company and John Mays, current COO of Azarga, will continue as Chief Operating Officer of the Azarga subsidiary, with a core focus to manage the continued advancement of the Dewey Burdock and Gas Hills projects.

Upon closing of the Transaction, Sandra MacKay, a current director of Azarga, will be appointed to the board of enCore.

In connection with the closing of the Transaction, enCore intends to seek the listing of its shares on the NYSE-AMEX or NASDAQ exchange which may include a share consolidation in order to meet initial listing requirements.

Board Recommendations and Voting Support

The Agreement has been unanimously approved by the boards of directors of both enCore and Azarga, and Azarga's board unanimously recommends that its shareholders vote in favour of the Transaction.

Officers and Directors of Azarga holding approximately 7% of the outstanding shares of Azarga have entered into customary voting support agreements pursuant to which they have agreed, among other things, to vote their Azarga common shares in favour of the Transaction.

Clarus Securities Inc. has provided a fairness opinion to the Board of Directors of enCore, to the effect that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications set out in such opinion, the consideration to be paid by enCore pursuant to the Transaction is fair, from a financial point of view, to enCore.

Each of Haywood Securities Inc. and Evans & Evans, Inc. have provided fairness opinions to the Board of Directors of Azarga, to the effect that, as of the date of such opinion, and based upon and subject to the respective assumptions, limitations and qualifications set out in such opinion, the consideration to be received by Azarga shareholders pursuant to the Transaction is fair, from a financial point of view, to Azarga shareholders.

Advisors and Counsel

PowerOne Capital Markets Ltd. is acting as financial advisor to enCore. Morton Law LLP is acting as legal counsel to enCore.

Haywood Securities Inc. is acting as financial advisor to Azarga. Blake, Cassels & Graydon LLP is acting as legal counsel to Azarga.

Conference Call & Webcast

enCore and Azarga will be hosting a joint online investor webinar on Thursday, September 9, 2021 at 10:00 AM EDT / 7:00 AM PDT to discuss the Transaction.

To register and attend the webinar please visit: https://attendee.gotowebinar.com/register/1027177374309475597

Additionally, Mr. Goranson and Mr. Sheriff will join Smith Weekly Research in discussing the Transaction that will be available at this link:

Smith Weekly Research – enCore Energy & Azarga Uranium Business Combination

enCore Resource Summary

*A Qualified Person (as defined in NI43-101) has not done sufficient work to classify the historical estimates as current mineral resources. Additional work will be required to verify and update historical estimates, including a review of assumptions, parameters, methods and testing. Historical estimates do not use the current mineral resource categories prescribed under NI43-101. enCore is not treating the historical estimates as current mineral resources and they should not be relied upon.

Azarga Resource Summary

Qualified Persons

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of enCore by Douglas H. Underhill, PhD, CPG, and on behalf of Azarga by John Mays, P.E. and Chief Operating Officer of Azarga, each of whom are a "Qualified Person" as defined by NI 43-101.

About enCore

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy's opportunities are created from the company's transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

About Azarga

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the company's initial development priority, has received its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "indicate", "scheduled", "target", "goal", "potential", "subject", "efforts", "option" and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements in this press release include, but are not limited to, statements related to the anticipated completion of the Transaction, the terms of the Transaction, the benefits of the Transaction, the combined company, the directors and officers of the combined company, the merits of the properties of enCore and Azarga, the potential share consolidation and listing of the shares of the combined company on a U.S. stock exchange and all statements related to the business plans, expectations and objectives of enCore and Azarga.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of enCore and/or Azarga to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; receipt of necessary stock exchange, court and shareholder approvals; the ability of enCore and Azarga to achieve their stated goals and objectives; the costs associated with the companies' objectives; risks and uncertainties related to the COVID-19 pandemic and measures taken to attempt to reduce the spread of COVID-19; and the risks and uncertainties identified in enCore's Management's Discussion and Analysis for the six months ended June 30, 2021 and Azarga's Annual Information Form for the year ended December 31, 2020, each filed on SEDAR at www.sedar.com. Although management of each of enCore and Azarga has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

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. The distribution of the enCore common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") and the enCore common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the enCore common shares, nor shall there be any offer or sale of the enCore common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/encore-energy-and-azarga-uranium-to-combine-to-create-leading-american-uranium-isr-company-301370315.html

SOURCE enCore Energy Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/07/c8311.html

VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd.’s (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) partner company Azincourt Energy (“Azincourt”) is pleased to report the completion of the airborne radiometric survey and provide an update on preparations for the remaining 2021-2022 program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.

Project Location – Western Athabasca Basin, Saskatchewan, Canada
https://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf

The primary target area for the 2021-2022 program continues to be the conductive corridor from the A-Zone through to the G-Zone (Figures 1 and 2). The selection of this trend is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2021 drill programs. The 2020 HLEM survey completed in December indicates multiple prospective conductors and structural complexity along the eastern edge of this corridor.

Figure 1: Target corridors at the East Preston Uranium Project
https://skyharbourltd.com/_resources/maps/nr-20210118-figure1.png

Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
https://www.skyharbourltd.com/_resources/maps/nr-20210209-figure1.png

Airborne Radiometric Survey Complete:

Terralogic Exploration Inc. was contracted to facilitate an airborne radiometric survey over the previously unsurveyed southern portion of the property and conduct field investigations of resulting anomalies. Special Project Inc. (SPI) of Calgary, Alberta conducted the survey using a fixed wing aircraft to complete the airborne radiometric survey, which consisted of 2,514 km of survey lines flown at a low minimum altitude and 50 m line spacing to ensure good data collection and a high survey resolution. Preliminary results have been received (Figure 3) and ground-based follow-up of identified anomalies is currently underway.

Figure 3: 2021 Radiometric Survey Coverage at the East Preston Uranium Project
https://www.skyharbourltd.com/_resources/maps/20210903-RadiometricSurveyCoverage.png

An airborne radiometric survey uses a gamma ray scintillometer mounted on an airborne platform to measure and map the natural radiation emitted by the rocks and soil the aircraft is flying over. Gamma radiation occurs from the natural decay of elements such as uranium, thorium, and potassium. Locations that have a higher radiation signature (anomalies) than the normal values for the surrounding area (background) would then be examined by crews on the ground for the potential presence of radioactive bedrock if there is not much glacial till cover, or boulders in the till that could be traced back to a source. Many uranium deposits in the Athabasca Basin, including the nearby Triple-R deposit, have been found by following trails of radioactive boulders in the glacial till back to their source.

“The radiometric survey coverage has further highlighted the G-zone and the Q-zone to the east, reinforcing our decision to focus on these conductive packages at this stage of the project. I’m eager to see what boots on the ground may yet show based on these results,” said Azincourt’s VP, Exploration, Trevor Perkins.

Updated Exploration Plans:

The planned early fall diamond drilling program to complete approximately 1,000 meters of drilling remaining from the shortened winter 2021 program has been rescheduled after consultation with local communities and contractors. As a result, this meterage will be used to further expand the upcoming extensive winter drill program. This program will now consist of approximately 7,000 meters in 30-35 drill holes. Preparations are set to begin in early December. Target selection is ongoing and will be refined based on the ground-based follow-up of anomalies identified from the recently completed airborne survey. Permits and funding are in place to complete all the planned work through the winter of 2022, and consultations and information sessions with local communities will continue throughout.

About East Preston:

Skyharbour and Dixie Gold entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned their interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing a total of 9.5 million common shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a 15% interest in the East Preston Project.

Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.

The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

So, the natural question for Marmota (ASX:MEU) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

See our latest analysis for Marmota

Does Marmota Have A Long Cash Runway?

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. When Marmota last reported its balance sheet in December 2020, it had zero debt and cash worth AU$7.2m. Looking at the last year, the company burnt through AU$2.0m. Therefore, from December 2020 it had 3.7 years of cash runway. There's no doubt that this is a reassuringly long runway. You can see how its cash balance has changed over time in the image below.

How Is Marmota's Cash Burn Changing Over Time?

Although Marmota reported revenue of AU$37k last year, it didn't actually have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. Over the last year its cash burn actually increased by 49%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Marmota 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 Marmota Raise Cash?

While Marmota does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$44m, Marmota's AU$2.0m in cash burn equates to about 4.5% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Marmota's Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Marmota is burning through its cash. 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. On another note, we conducted an in-depth investigation of the company, and identified 3 warning signs for Marmota (2 are potentially serious!) that you should be aware of before investing here.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

If you want to know who really controls Paladin Energy Limited (ASX:PDN), then you'll have to look at the makeup of its share registry. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that have been privatized tend to have low insider ownership.

With a market capitalization of AU$2.1b, Paladin Energy is a decent size, so it is probably on the radar of institutional investors. In the chart below, we can see that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Paladin Energy.

See our latest analysis for Paladin Energy

What Does The Institutional Ownership Tell Us About Paladin Energy?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

Paladin Energy already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Paladin Energy's historic earnings and revenue below, but keep in mind there's always more to the story.

Paladin Energy is not owned by hedge funds. Tembo Capital Management Limited is currently the company's largest shareholder with 9.8% of shares outstanding. In comparison, the second and third largest shareholders hold about 7.2% and 4.5% of the stock.

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.

Insider Ownership Of Paladin Energy

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our most recent data indicates that insiders own less than 1% of Paladin Energy Limited. It's a big company, so even a small proportional interest can create alignment between the board and shareholders. In this case insiders own AU$11m worth of shares. Arguably, recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling.

General Public Ownership

The general public holds a 49% stake in Paladin Energy. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Equity Ownership

With an ownership of 9.8%, private equity firms are in a position to play a role in shaping corporate strategy with a focus on value creation. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Take risks for example – Paladin Energy has 4 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

Just because a business does not make any money, does not mean that the stock will go down. By way of example, Azincourt Energy (CVE:AAZ) has seen its share price rise 150% over the last year, delighting many shareholders. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So notwithstanding the buoyant share price, we think it's well worth asking whether Azincourt Energy's cash burn is too risky. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

Check out our latest analysis for Azincourt Energy

When Might Azincourt Energy 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 June 2021, Azincourt Energy had CA$4.1m in cash, and was debt-free. Looking at the last year, the company burnt through CA$3.2m. That means it had a cash runway of around 15 months as of June 2021. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

How Is Azincourt Energy's Cash Burn Changing Over Time?

Because Azincourt Energy 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. With the cash burn rate up 19% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Azincourt Energy due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Azincourt Energy Raise More Cash Easily?

Given its cash burn trajectory, Azincourt Energy 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. Many companies end up issuing new shares to fund future 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.

Azincourt Energy has a market capitalisation of CA$26m and burnt through CA$3.2m last year, which is 12% of the company's market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.

Is Azincourt Energy's Cash Burn A Worry?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Azincourt Energy's cash burn relative to its market cap was relatively promising. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. On another note, we conducted an in-depth investigation of the company, and identified 5 warning signs for Azincourt Energy (3 shouldn't be ignored!) that you should be aware of before investing here.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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. – September 2, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or "Company") announces that it has appointed Isabel Vilela as Head of Investor Relations and Corporate Communications, effective immediately.

Ms. Vilela brings with her over ten years of experience in investor relations, having previously worked as head of Investor Relations for Hochschild Mining plc and Cookson Group plc, as well as a wealth of experience in ESG, corporate communications and public relations.

Ms. Vilela will build on GoviEx's current Investor Relations program to grow and diversify the Company's shareholder base as well as to enhance its communications with shareholders and stakeholders, and will be actively engaged in the ongoing development of GoviEx's ESG management programs. Isabel will work closely with the management team to further develop the company's internal and external communications with a focus on strategy, branding, social media presence and investor communications.

Ms. Vilela will report to Daniel Major, CEO, and will be based in the UK. In conjunction with her appointment and pursuant to the Company's stock option plan, Ms. Vilela is eligible to be granted a total of 500,000 stock options after completion of a standard three month probationary period. The options will be priced once granted and will be subject to vesting provisions.

Commenting on the appointment, Daniel Major, CEO, said: "We are extremely pleased to welcome Isabel to the GoviEx Team. Her experience and insights make her ideally suited to support the continued development of our investor relations program and goals. As we advance our uranium projects in a strengthening uranium market, it is a great time to bolster our investor relations program and ensure best practice to drive shareholder value."

Ms. Vilela added, "I'm delighted to be joining GoviEx at this unique and exciting time. I look forward to assisting GoviEx to communicate the Company's strategic initiatives and performance drivers to the financial community and its key stakeholders."

Ms. Vilela has no direct or indirect interest in GoviEx other than as an employee of the Company.

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

About GoviEx Uranium

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its other uranium properties elsewhere in Africa.

Information Contacts

Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
info@goviex.com
www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those in relation to, (i) that Ms. Vilela will build on GoviEx's current Investor Relations program to grow and diversify the Company's shareholder base as well as to enhance its communications with shareholders and stakeholders.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the current uranium upcycle will continue and expand; (ii) that the integration of nuclear power into power grids world-wide will continue as a clean energy alternative and increase as dirty carbon baseload is taken off-line; and (iii) that the price of uranium will remain sufficiently high and the costs of advancing the Company's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) a regression in the uranium market price; (ii) inability or unwillingness to include or increase nuclear power generation by major markets; (iii) potential delays due to COVID-19 restrictions; (iv) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (v) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (vi) an increase in the Company's operating costs above what is necessary to sustain its operations; (vii) accidents, labour disputes, or the materialization of similar risks; (viii) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (ix) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2020, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95493

SASKATOON, SK, Sept. 3, 2021 /CNW/ – IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX: ISENF) is pleased to announce that following the completion of drilling at its Geiger property, drilling has commenced at its 100% owned Larocque East project, home to the Hurricane zone high-grade uranium deposit.

Tim Gabruch, President and Chief Executive Officer commented: "IsoEnergy's summer exploration program has been progressing well. We recently completed our 12-hole drill program at Geiger and the team has moved over to our Larocque East project where drilling has now begun. The work at Geiger was completed successfully, and safely, and marks IsoEnergy's first drill program outside of the Larocque East property since the Hurricane zone was discovered during the summer program in 2018. Work now transitions back to our flagship Larocque East site, home of the Hurricane zone. We are excited to get back on the ground there, having delayed our return because of COVID-19.

Andy Carmichael, Vice President of Exploration commented: "Drilling in 2020 was the most successful to date at Hurricane with intersections of strong mineralization over significant widths leading to the identification of a high-grade domain. The team is excited to resume growing the Hurricane zone as well as drill testing high-priority exploration targets, particularly along the fertile Larocque Lake conductive trend."

As announced on July 26^th, 2021, diamond drilling at Larocque East will comprise 30 drill holes totalling 12,000 metres and will have three objectives: Expansion; Infill; and Exploration. Twelve drill holes are planned to expand the footprint of the Hurricane zone and will include drilling at both the western and the eastern sides of the zone. Four infill drill holes are planned between existing drill fences to provide valuable information on the continuity of the higher-grade portions of the zone. Figure 2 shows the Expansion and Infill target areas in plan view. Fourteen exploration drill holes are planned in two target areas. The main target area is a three-kilometre-long section of the Larocque Lake trend where DC-resistivity signatures similar to that of Hurricane are present and historical drilling has intersected alteration, structures, graphitic basement, and anomalous geochemistry. The second target area includes trends of decreased resistivity in the sandstone and basement and is located southeast of and subparallel to the Hurricane zone stratigraphy. Figure 3 shows the exploration target areas in plan view.

Geiger Drilling Complete

Diamond drilling at Geiger concluded in August. Twelve diamond drill holes totalling 4,428 metres were completed to evaluate an area where historical drill holes intersected anomalous results. Geological interpretation is underway and geochemical assay results are expected in a few weeks. While several drill holes intersected positive features, the most noteworthy result is the discovery of a zone of significant sandstone alteration associated with the 3B electromagnetic (EM) conductor. The 3B conductor was identified by IsoEnergy in July, during a reinterpretation of historical airborne geophysical survey data (Figure 4).

The newly discovered alteration zone was first intersected by drill hole GG21-21 while following-up anomalous historical drill hole Q3-006 by evaluating the 3A conductor (Figure 4). GG21-21 intersected wide intervals of moderately to strongly bleached sandstone cored by a 50-metre-long interval hosting structurally controlled clay enrichment, desilicified zones, and local hydrothermal hematite centred 100 metres south of the 3A conductor (Figure 5). GG21-27 followed-up GG21-21 by evaluating the sub-parallel 3B conductor and locating inferred basement structures controlling the alteration in the overlying sandstone. GG21-27 intersected moderately to strongly bleached intervals in the sandstone as well as a zone of graphitic faulting in the basement 155 metres below the unconformity which correlates to the centre of the 50-metre zone of increased alteration and structure in GG21-21. Importantly, the 3B conductor associated with this sandstone alteration and graphitic basement has been tested only indirectly by the two 2021 drill holes and is completely untested along its remaining 4.5 kilometres of strike length (Figure 4).

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 33 mineral claims totaling 16,780ha. Two of the project's claims distal to the Hurricane zone are subject to a 2% Net Smelter Returns Royalty of which 1% may be bought back for $1Million at IsoEnergy's discretion. Larocque East is immediately adjacent to the north end of IsoEnergy's Geiger property and is 35km northwest of Orano Canada's McClean Lake uranium mine and mill.

Along with other target areas, the Larocque East Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.'s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July 2018 and was followed up with 29 drill holes in 2019 and an additional 48 drill holes in 2020. Dimensions are currently 575m along-strike, up to 75m wide, and up to 11m thick. The zone is open for expansion along-strike to the east and to the north and south on some sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 38.8% U₃O₈ over 7.5m in drill hole LE20-76. Drilling at Cameco Corp.'s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U₃O₈ over 7.0m in drill hole Q22-040. Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin. Importantly, the sandstone cover on the Property is thin, ranging between 140m and 450m in previous drilling.

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy's Vice President, Exploration, who is a "Qualified Person" (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. As mineralized drill holes at the Hurricane zone are oriented very steeply (-70 to -90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90% of the core lengths. This news release refers to properties other than those in which the Company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Company's properties. For additional information regarding the Company's Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019, on the Company's profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada. The Company recently discovered the high-grade Hurricane Zone of uranium mineralization on its 100% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development, and operations. The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Neither the TSX Venture Exchange nor its Regulations 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 shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE IsoEnergy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/03/c5717.html

LAKEWOOD, Colo., Sept. 2, 2021 /PRNewswire/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reminds holders of its outstanding common share purchase warrants (CUSIP: 292671179 / ISIN: CA2926711797) (the "Warrants") that the Warrants will expire at 5:00 p.m. Toronto time on Monday, September 20, 2021 ("Time of Expiry"). The corresponding Warrant Indenture dated as of September 20, 2016 (the "Indenture") by and among Energy Fuels, CST Trust Company (the "Canadian Warrant Agent" or "AST") and American Stock Transfer & Trust Company, LLC (the "U.S. Warrant Agent") may be viewed on the U.S. Securities and Exchange Commission's Electronic Document Gathering and Retrieval System ("EDGAR") at https://www.sec.gov/Archives/edgar/data/1385849/000106299316011518/exhibit4-1.htm, as summarized in a Form 51-102F3 Material Change Report filed September 20, 2016 with the System for Electronic Document Analysis and Retrieval ("SEDAR"), which may be viewed at www.sedar.com.

Any Warrants not exercised prior to 5:00 p.m. Toronto time on September 20, 2021 will expire and become void, and the holder will no longer be able to exercise such voided Warrants. As the Warrants are currently "in-the-money," the Company recommends that Warrant holders take appropriate steps to protect their investment.

All capitalized terms used herein that are not otherwise defined shall have the meanings set forth in the Indenture.

The Warrants trade on the NYSE American (the "NYSE") under the symbol UUUU-WT and on the Toronto Stock Exchange (the "TSX") under the symbol EFR.WT. The NYSE notified Energy Fuels that it will suspend trading in the Warrants after the close of trading on September 15, 2021 so that trades can be timely settled by September 20, 2021. The TSX, however, will not suspend trading in the Warrants until market close on September 20, 2021.

As of August 31, 2021, there were 2,107,004 Warrants outstanding. Each whole Warrant represents the right to purchase one (1) common share in the capital stock of Energy Fuels (a "Common Share") at an exercise price of USD$2.45 per Common Share.

Further information on the Warrants may be requested from, and further questions may be directed to, the Company at investorinfo@energyfuels.com. Answers to commonly asked questions are as follows:

• How many Warrants were issued pursuant to the Indenture?
  4,168,750 Warrants as of the date of the Indenture.

• Where do I send my Warrants in order to exercise them?
  All required documentation must be sent to AST's Corporate Actions Department per the following instructions:

• What documentation is required in order to exercise my Warrants?
  1. Original warrant certificate with the Subscription Form on the back filled out completely; and

  2. Payment to the AST Corporate Actions Department.
  *Certified cheques should be made payable to AST TRUST COMPANY (CANADA).

In addition, if the Warrants are held in the name of a corporate/business entity rather than an individual:

3. A corporate resolution from the entity designating an authorized official to sign on its behalf; and
*Must submit an original, dated within the last six (6) months
*Subscription Form must be signed exactly as authorized in the resolution

4. If the entity has a single director, either a medallion stamp affixed to the Subscription Form or a notary stamp at the bottom of the corporate resolution.

• May I wire funds to AST to cover the cost of my exercise rather than by way of a certified cheque?
  Yes. Please contact the Company for the relevant wiring instructions.

• Where may I direct questions about my Warrants or the status of a previously submitted exercise?
  Questions should be directed to AST at 1-800-387-0825 (in North America) or (416) 682-3860 (outside North America) or by sending an e-mail to inquiries@astfinancial.com.

• How long will it take to receive my Common Shares following an exercise of Warrants?
  As a part of a warrant holder's exercise process, AST's Corporate Actions Department sends a requisition to the U.S. Warrant Agent to issue the Common Shares, and simultaneously sends the exercise funds to Energy Fuels as compensation so that the Common Shares are fully paid and non-assessable as of the issuance date. Receipt of such requisition, confirmation of the Company's receipt of funds, and the resulting Common Share issuance typically takes up to 2-3 weeks in total. However, this timeframe is provided for reference only and in no way represents a commitment or obligation of Energy Fuels, AST or the U.S. Warrant Agent.

• Can I exercise my Warrants electronically?
  No, there is no way to do so.

• Can I exercise my Warrants directly through Energy Fuels rather than sending my exercise and payment to AST?
  No, all documentation must go through AST and in accordance with the terms of the Indenture.

• Is there a process at AST to expedite my exercise?
  No, there is no way to do so. Exercises are processed in the order in which they are received, and a significant number of exercises are currently being processed and are expected to come in prior to the Time of Expiry.

• Are the Common Shares that result from my exercise of Warrants free-trading?
  Yes.

• Do the Warrants use an American-style exercise (i.e., can they be exercised at any time at the warrant holder's option)?
  Yes, up to the Time of Expiry, except as limited by Article 4.9(b) of the Indenture (setting a Beneficial Ownership Limitation of 4.99%).

The above responses are meant to provide general clarification only. It remains the sole obligation of the warrant holder to ensure that all relevant terms in the Indenture are followed in exercising any Warrants held.

As noted, above, any Warrants not exercised prior to 5:00 p.m. Toronto time on September 20, 2021, will expire and become void, and the holder will no longer be able to exercise such voided Warrants.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U₃O₈ to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of RE Carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U₃O₈ per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U₃O₈ per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/energy-fuels-issues-reminder-regarding-expiration-of-warrants-301367990.html

SOURCE Energy Fuels Inc.

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it seems the smart money knows that debt – which is usually involved in bankruptcies – is a very important factor, when you assess how risky a company is. As with many other companies Fission Uranium Corp. (TSE:FCU) makes use of debt. But the real question is whether this debt is making the company risky.

What Risk Does Debt Bring?

Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. The first step when considering a company's debt levels is to consider its cash and debt together.

See our latest analysis for Fission Uranium

What Is Fission Uranium's Net Debt?

You can click the graphic below for the historical numbers, but it shows that Fission Uranium had CA$7.13m of debt in June 2021, down from CA$10.7m, one year before. However, its balance sheet shows it holds CA$55.9m in cash, so it actually has CA$48.7m net cash.

How Healthy Is Fission Uranium's Balance Sheet?

Zooming in on the latest balance sheet data, we can see that Fission Uranium had liabilities of CA$2.77m due within 12 months and liabilities of CA$9.16m due beyond that. Offsetting these obligations, it had cash of CA$55.9m as well as receivables valued at CA$397.9k due within 12 months. So it can boast CA$44.3m more liquid assets than total liabilities.

This surplus suggests that Fission Uranium has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Succinctly put, Fission Uranium boasts net cash, so it's fair to say it does not have a heavy debt load! There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Fission Uranium's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.

Given its lack of meaningful operating revenue, Fission Uranium shareholders no doubt hope it can fund itself until it can sell some combustibles.

So How Risky Is Fission Uranium?

We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Fission Uranium had an earnings before interest and tax (EBIT) loss, over the last year. Indeed, in that time it burnt through CA$13m of cash and made a loss of CA$11m. Given it only has net cash of CA$48.7m, the company may need to raise more capital if it doesn't reach break-even soon. Overall, its balance sheet doesn't seem overly risky, at the moment, but we're always cautious until we see the positive free cash flow. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. These risks can be hard to spot. Every company has them, and we've spotted 4 warning signs for Fission Uranium (of which 1 doesn't sit too well with us!) you should know about.

If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

Significant drill-confirmed strike length extensions of PGE-mineralization for Trapia 1 and Trapia 2 resource zones

Trapia 1

Figure 2: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 1, Compared with 2019 Resource

Trapia 2

Figure 3: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 2, Compared with 2019 Resource

VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) — ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on resource expansion drilling at the Trapia 1 and Trapia 2 target areas (“Trapia”), of ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“PGE assay results from ValOre’s 2020 and 2021 Trapia drill programs illustrate the significant potential for resource expansion. We have now tripled the strike length of known PGE mineralization at Trapia 1 and increased Trapia 2 strike length by a factor of five,” stated ValOre’s VP of Exploration, Colin Smith. “We eagerly await the recalculation of Trapia’s resource estimates, which we expect to initiate in Q4, 2021.”

Highlights of 2020 and 2021 Resource Expansion Drilling at Trapia 1 and Trapia 2:

• Tripled known strike length of drill-confirmed PGE mineralization at Trapia 1, from 155 metres (“m”) to 470 m, and increased strike length by a factor of over five at Trapia 2, from 90 m to 490 m;

• Established a new PGE zone 400 metres (“m”) to the northeast and along trend from current Trapia 2 resource area;

• Confirmed and broadened up-dip surface PGE mineralization outside of the currently defined Trapia 1 resource;

• Intercepted thickened, high-grade PGE mineralization down-dip and outside of currently defined resources at both Trapia 1 and Trapia 2.

Table 1: Summary of 2019 Trapia Inferred Mineral Resources and 2020-2021 Drill Upside

Resource Expansion Drilling at Trapia

ValOre’s 2020 and 2021 drill programs have successfully extended PGE mineralization outside of the inferred resources at both the Trapia 1 and Trapia 2 deposits. Figures 1a and 1b show the location of the 2020 and 2021 core drill holes within the Trapia 1 (5,280 m in 23 holes) and Trapia 2 (2,240 m drilled in 14 holes) target areas.

Table 1 (above) summarizes the Trapia 2019 pit-constrained NI 43-101 inferred resource and illustrates the PGE resource expansion potential from ValOre’s 2020 and 2021 drill core assay results. A 10 “gram x metre” 2PGE+Au threshold was applied, based on the two lowest gram x metre assay intervals of resource holes, drill hole DD09TD03 (7.53 gram x metre hole in Trapia 2 resource) and drill hole DD09TU08 (9.61 gram x metre hole in Trapia 1 resource).

At Trapia 1, the strike length of drill-confirmed PGE mineralization has tripled from 155 m to 470 m, as corroborated by 14 drill intercepts of PGE mineralization in 15 drill holes (2020 and 2021) south of the 2019 inferred resource, including:

• Drill hole DD20TU20: 76.74 m at 1.25 g/t 2PGE+Au from 176.81 m

• Drill hole DD21TU22: 59.20 m at 1.09 g/t 2PGE+Au from 172.80 m

• Drill hole DD21TU25: 57.35 m at 1.00 g/t 2PGE+Au from 238.15 m

• Drill hole DD20TU13: 61.85 m at 0.81 g/t 2PGE+Au from 217.15 m

The strike length extension was accomplished after ValOre’s geologists reinterpreted the structural and geological model at Trapia 1 and established that the PGE-mineralized intrusion was not truncated by a fault along the southern resource margin, as previously interpreted by past operators, but remained fully intact and stepped down by 40 to 50 m. As such, historical resource expansion holes to the south of the stepdown were stopped short of the PGE-bearing ultramafic (“UM”) intrusion. Strike potential of the mineralized UM target remains open in both directions (north-northeast and south-southwest). See Figure 2 below for a plan map of 2020 and 2021 core drill holes at Trapia 1, compared with the 2019 inferred resource holes.

ValOre drilling has also confirmed and broadened the up- and down-dip high-grade PGE mineralization outside of the currently defined resource area, including the up-dip, surface PGE intercept in drill hole DD20TU10, which graded 52.37 m at 1.24 g/t 2PGE+Au from 0.45 m; and down-dip drill holes DD20TU12, with 100.42 m grading 0.76 g/t 2PGE+Au from 93.15 m, and DD21TU21 which graded 1.29 g/t 2PGE+Au over 71.90 m from 134.95 m depth.

Figure 2: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 1, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/532f32f4-ff70-4a16-9ffa-62251f131219

At Trapia 2, ValOre’s 2020 and 2021 core drilling has increased the drill-confirmed PGE-mineralized strike length by a factor of greater than five times, from 90 m to 490 m. This includes a new PGE zone situated 400 m to the northeast and along trend from current resource area, supported by six PGE drill intercepts in seven core holes from 2020 and 2021. In addition, geological continuity of the UM host rocks was established for over 800 m of geological trend, which remains open in both directions. See Figure 3 below for a plan map of 2020 and 2021 core drill holes at Trapia 2, compared with the 2019 inferred resource holes.

ValOre’s 2020 and 2021 drilling produced the top two core holes to date from a 2PGE+Au gram x metre interval perspective at Trapia 2, and five of the top six, including:

• Drill hole DD21TD14: 11.27 m at 2.10 g/t 2PGE+Au from 152.48 m (released today)

• Drill hole DD21TD16: 45.45 m at 0.61 g/t 2PGE+Au from 178.55 m (released today)

• Drill hole DD21TD17: 21.60 m at 0.49 g/t 2PGE+Au from 43.80 m (released today)

• Drill hole DD20TD13: 45.62 m at 0.54 g/t 2PGE+Au from 9.10 m

• Drill hole DD20TD07: 52.15 m at 0.49 g/t 2PGE+Au from 4.85 m

Figure 3: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 2, Compared with 2019 Resource is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10b10828-330d-4656-9ffc-5a22747c7139

Table 2 summarizes significant PGE assay results from 2020 and 2021 Trapia 1 and Trapia 2 core drilling.

Trapia Target Areas and the 2019 Mineral Resource Domain

Trapia is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

The Trapia mineral resource comprises three separate UM intrusive areas within a 2-kilometre radius: Trapia 1, Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia inferred resources of 219,000 ounces at 1.10 g/t 2PGE+Au (6.2 Mt), and Trapia 2 represents 62,000 ounces of the aggregate Trapia inferred resource.

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (“QP”)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

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

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

Shares of uranium mining companies are red-hot Thursday. As of 12:40 p.m. EDT, both Energy Fuels (NYSEMKT: UUUU) and Uranium Energy (NYSEMKT: UEC) stocks are up 6.9% apiece, while Ur-Energy (NYSEMKT: URG) is leading the pack higher with a 9.1% gain. In a short note posted on Twitter yesterday, you see, GLJ raised its price target on yet another uranium mining company.

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So should Berkeley Energia (ASX:BKY) shareholders be worried about its 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'.

See our latest analysis for Berkeley Energia

When Might Berkeley Energia 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 June 2021, Berkeley Energia had AU$79m in cash, and was debt-free. Looking at the last year, the company burnt through AU$5.7m. So it had a very long cash runway of many years from June 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 Berkeley Energia's Cash Burn Changing Over Time?

While Berkeley Energia did record statutory revenue of AU$23k over the last year, it didn't have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. While it hardly paints a picture of imminent growth, the fact that it has reduced its cash burn by 23% over the last year suggests some degree of prudence. Admittedly, we're a bit cautious of Berkeley Energia due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Berkeley Energia Raise More Cash Easily?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Berkeley Energia to raise more cash in the future. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Berkeley Energia's cash burn of AU$5.7m is about 7.4% of its AU$76m market capitalisation. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About Berkeley Energia's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way Berkeley Energia is burning through its cash. For example, we think its cash runway suggests that the company is on a good path. And even though its cash burn reduction wasn't quite as impressive, it was still a positive. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. Taking a deeper dive, we've spotted 5 warning signs for Berkeley Energia you should be aware of, and 3 of them don't sit too well with us.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.

The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.

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There are several stocks that passed through the screen and Centrus Energy Corp. (LEU) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.

A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. LEU is quite a good fit in this regard, gaining 12.4% over this period.

However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 27.3% over the past four weeks ensures that the trend is still in place for the stock of this company.

Moreover, LEU is currently trading at 91% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.

Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises — the key factors that impact a stock's near-term price movements.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.

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Toronto, Ontario–(Newsfile Corp. – September 1, 2021) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced that it has received trading approval from OTC Markets and is now actively trading on the OTCQB Venture Market under the new ticker symbol PTUUF. You can visit the company profile at https://www.otcmarkets.com/stock/PTUUF/overview.

"As our U.S. investor base grows, we felt it important to upgrade to the OTCQB Market," said Chris Frostad, President & CEO at Purepoint. "This listing will allow for increased accessibility to U.S.-based retail and institutional investors."

To view this week's interview with Chris Frostad by Matthew Gordon at Crux Investor, please visit: https://youtu.be/j9hDoeLBCr0.

The OTC Venture Market (OTCQB) offers Canadian companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. To be eligible, Canadian companies must be current in their SEDAR reporting and undergo an annual verification and management certification process.

As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. As a result, more Canadian companies are traded on OTC Markets than on NYSE, NYSE MKT and NASDAQ combined. The key benefits of trading on the OTC Markets includes efficient market standards, transparency, and visibility. Companies may leverage their SEDAR disclosure (SEC Exchange Act Rule 12g3-2(b)). There are no Sarbanes-Oxley and SEC Reporting requirements to trade on OTCQB, bypassing burdensome, costly and duplicative NYSE and NASDAQ listing requirements.

OTCQB is recognized by the SEC as an established public market. OTCQB companies provide current company information and meet financial standards that enable brokers to more easily quote and trade a security. Companies engage a far greater network of U.S. investors, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Canada, but through U.S. platforms and portals to conduct research.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 185,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

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

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95053

Toronto, Ontario–(Newsfile Corp. – August 31, 2021) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today provided the final assay results from its 2021 drill programs at the 100%-owned Red Willow and Umfreville projects, both located within the eastern uranium mine district of the Athabasca Basin, Saskatchewan, Canada. The 2021 Red Willow drill program conducted follow-up testing of the Osprey Zone and Geneva Shear while the 2021 Umfreville drill program tested a strong gravity low response coincident with a uranium-in-soil anomaly.

"Our Spring drill season tested three independent targets across our Red Willow and Umfreville projects and we're pleased to report that uranium intercepts returned from both these projects necessitate follow-up drilling," said Scott Frostad, VP Exploration at Purepoint.

"The most surprising results came from Purepoint's inaugural drilling of a gravity low response at Umfreville where 0.04% U₃O₈ was returned over 0.8 metres from granitic gneiss and pelitic gneiss basement rocks," said Frostad. "The precipitation of secondary uranium in the basement rocks appears to explain the source of the uranium-in-soil anomalies and suggests a significant mineralization event in the vicinity. Our next obvious drill targets at Umfreville are towards the east where strong north-south trending structures, interpreted from the airborne magnetics, crosscut our gravity low response."

Highlights:

• Umfreville diamond drill hole UMF21-01 returned 3.1 metres of anomalous uranium (0.013% U₃O₈) including 0.8 metres at 0.04% U₃O₈

• Red Willow's Geneva shear returned 0.012% U₃O₈ over 5.5 metres and an additional 0.06% U₃O₈ over 0.4 metres from drill hole GEN21-05

• Next step targets are now being developed and prioritized for follow up

• Initial drilling at Purepoint's Henday Lake Project is scheduled for early Fall

Umfreville – 2021 Drill Results
The initial hole by Purepoint at the Umfreville project, UMF21-01, tested an east-west trending gravity low response that is coincident with both a magnetic low response and a uranium-in-soil anomaly. The unconformity was intersected 223 metres downhole and the basement rocks consisted of granitic gneiss and pelitic gneiss. Elevated radioactivity was intersected near the base of the paleoweathering returning 36 ppm U over 17.4 metres between 239.1 and 256.5 metres. A second radioactive intercept, starting at 273 metres downhole, returned 107 ppm U over 3.1 metres and included 304 ppm U over 0.8 metres.

Based on the results, a follow-up hole has been proposed east of UMF21-01 where interpreted north-south trending structures appear to be cross-cutting our strong elongate gravity/magnetic low response.

Red Willow – Geneva Zone 2021 Drill Results
Three drill holes tested the Geneva Shear from the same drill pad and were between 190 and 300 metres in total length. The initial 2021 hole, GEN21-03, intersected the Geneva Shear at a downhole depth of 135.5 metres and returned 31 ppm U over 3.4 metres. The follow-up hole, GEN21-04, intersected the shear much deeper at 274 metres and returned 29 ppm U over 4.6 metres.

The third hole, GEN21-05, intersected the Geneva shear further northeast and just below the basement paleoweathering zone starting at a depth of 157 metres. The graphitic/pyritic shear zone was within Pelitic Gneiss that displayed strong hydrothermal alteration, including hematite and local silicification. The zone returned 98 ppm U over 5.5 metres and an additional 527 ppm U over 0.4 metres.

The radioactive Geneva Shear is now determined as having a strike of 155 degrees and a dip towards the northwest at -70 degrees. The projection of the shear towards the northeast now suggests that previous vertical drillholes completed by Eldorado in 1984, searching for Unconformity-style mineralization, would not have drilled deep enough to test this basement-hosted structure.

Based on the 2021 drill results, follow-up drilling of the Geneva shear is now recommended along strike towards the northeast at a depth just below the paleoweathering.

Red Willow – Osprey Zone 2021 Drill Results
Three drill holes, drilled from the same drill pad and each averaging 200 metres in length, targeted the Hinge fault north of previous drilling. Two initial drill holes were completed on the same section, OSP21-01 and 02, and both successfully intersected the fault at 70 and 140 metres below surface, respectively. The structure was determined to have a strike of 5 degrees NE and was still associated with strong alteration; however, the radioactivity was weaker (10 ppm U over 15.3 m) than previous drilling.

Hole OSP21-03 targeted the projection of the Hinge Fault where it meets the east-west trending electromagnetic (EM) conductor that hosts the known Osprey uranium mineralization. The fault was intersected from 60 to 75 metres downhole with the host rock comprised of weakly chlorite and hematite altered pyritic graphitic pelitic gneiss. The fault at this location included intervals of strong silicification and again returned weak radioactivity (23 ppm U over 1.7m).

The next exploration priority within the Osprey Zone is considered to be the Osprey Conductor North. The EM conductor continues for an additional 2 kilometres north of previous Purepoint drilling and has only been tested by two historic (1993) drill holes.

Spring 2021 Results from Umfreville and Red Willow Drill Programs:

The next planned drill program will be at the 100%-owned Henday Lake Project, located 9 km northwest of Orano's Midwest Lake deposit (41mm lbs U3O8) and 10km west of Rio Tinto's Roughrider deposit (57mm lbs U3O8). The project is fully permitted, drilling crew has been secured to start drilling in early Fall 2021.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 185,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

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

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94959

VANCOUVER, British Columbia, Aug. 31, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has provided an update on results from the recently completed on-ground field program at the Hook Lake Project. A total of 57 samples were taken from across the Hook Lake Project with assay results now having been received. The results are highlighted by the assays from the Hook Lake (or Zone S) prospect which confirmed the reported historical high-grade uranium mineralization. A total of seven rock chip samples were taken from a historical trench located at the Hook Lake prospect, with four of these samples returning high-grade uranium assays (>6% U₃O₈) as well as highly elevated rare earth (>0.5% TREO*), silver (>50ppm) and lead (> 1.8%) assays. The samples are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.

*TREO = Total Rare Earth Oxides = La₂O₃, CeO₂, Pr₆O₁₁, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃, Ho₂O₃, Er₂O₃, Yb₂O₃, Y₂O₃

Hook Lake (Formally North Falcon Point) Project:
https://skyharbourltd.com/_resources/projects/Falcon-Point-Project.jpg

The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.

Highlights:

• Sampling results from the Hook Lake (Zone S) prospect returns:

  • 59.2% U₃O₈, 499g/t Ag, 5.05% TREO (11,797ppm Nd₂O₃ + Pr₆O₁₁ and 1,825ppm Dy₂O₃), 14.4% Pb (Float sample)

  • 57.4% U₃0₈, 507g/t Ag, 3.68% TREO (8,562ppm Nd₂O₃ + Pr₆O₁₁ and 1,676ppm Dy₂O₃), 14.5% Pb (Rock chip sample)

  • 46.1% U₃O₈, 435g/t Ag, 2.88% TREO (7,054ppm Nd₂O₃ + Pr₆O₁₁ and 1,139ppm Dy₂O₃), 8.8% Pb (Rock chip sample)

  • 6.92% U₃O₈, 0.81% TREO, 2% Pb (Rock chip sample)

  • 6.42% U₃O₈, 1.17% TREO, 1.8% Pb (Rock chip sample)

• Anomalous rock chip sample results from West Way prospect with up to 0.64% U₃O₈ and molybdenum assays of 3.4% and 1.9%

• Project wide review of rare earth and molybdenum potential currently being undertaken

• Follow up field program planned to finalize and prioritize targets ready for drill testing

Sample results across the Hook Lake Property:

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

The program was conducted by Dahrouge Geological Consulting Limited, and focused on validating and developing the geological understanding of the historic uranium occurrences, such as the Hook Lake (or Zone S) and West Way prospects. The fieldwork was also designed to follow-up on the new targets generated from the magnetic/VLF-EM survey completed in April and the priority anomalies identified from the detailed airborne radiometric survey completed in July.

Hook Lake (Zone S) Prospect:

A total of seven rock chip samples were taken from a historical trench located at the Hook Lake prospect, with four of these samples returning high-grade uranium assays (>6% U₃O₈) as well as highly elevated rare earths (>0.5% TREO), silver (>50ppm) and lead (>1.8%) assays. These samples were taken from in-situ uraninite mineralization within a biotite or psammitic gneiss. A boulder sample located approximately 300m east of the Hook Lake trench also returned high-grade uranium and rare earths with 59.2% U₃O₈ and 5.05% TREO.

The Hook Lake high-grade uranium (and rare earth) mineralization is interpreted to be located at a dilational trap/jog which has formed at the intersection of a northeast-southwest trending shear zone and a possible north-south trending structure (potentially a reactivated Tabbernor fault structure). This interpretation highlights the potential significance of the north-south trending Tabbernor fault system structures, several of which are interpreted to transect the project area. Besides the down-dip/down-plunge potential of the immediate Hook Lake target, there is potential for further structural targets of this nature along strike to the northeast and southwest from the Hook Lake prospect. This will be further investigated during on-ground follow-up work programs.

West Way Prospect:

At the West Way prospect, located approximately 6.5km north of the Hook Lake prospect, five grab samples of outcrop or subcrop were taken with three of the samples returning anomalous uranium assay results including 0.64% U₃O₈ from a quartz vein. Two of these three samples returned high-grade molybdenum with assays of 3.4% and 1.9% Mo.

The controls on mineralization at West Way are currently uncertain and more field work is required to improve the geological understanding and develop drill targets. However, the airborne magnetics suggest a spatial association with a N-S structural feature, and there are potential repeats of this structural setting along strike to the northeast and southwest of West Way. This will be further investigated during on-ground follow-up work programs, in addition to following-up on the elevated Mo assays.

Another 44 samples were taken from across the project area, including 9 samples from the Nob Hill prospect. Results from Nob Hill ranged from no meaningful mineralization to one grab sample of pegmatite that returned an assay of 280ppm U and 1.01% TREO.

A follow-up field program is currently being planned prior to finalize and prioritize drill targets. The field program is expected to take place in October, with drilling planned during the winter 2021/22.

About Hook Lake (previously North Falcon Point) Project:

Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralization including:

• Hook Lake / Zone S – High-grade surface outcrop with reported grades in grab samples up to 68% U₃O₈; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast

• Nob Hill – Fracture-controlled vein-type uranium mineralization on surface outcrop with up to 0.130% – 0.141% U₃O₈ in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m

• West Way – Vein type U mineralization within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U₃O₈ and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb

• Grid T – Fracture-hosted secondary uranium mineralization in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U

• Alexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively

• Thompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder

• NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Valor Resources Ltd:

Valor Resources Limited (ASX: VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
_________________________
Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, British Columbia–(Newsfile Corp. – August 30, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (the "Company" or "GoviEx") today announced that its CEO, Daniel Major, will present at the Power Players Investor Forum to be held (virtually) August 31, 2021 – the Company's presentation will be at 9:00 AM (EST) and consist of a 20-minute formal description of the Company and its financial position, followed by a 20-minute Q&A session moderated by Noble Capital Markets senior equity research analyst, Michael Heim.

The presentation can be accessed by registering (at no cost) for the Investor Forum at www.channelchek.com; the investor portal created by Noble. The video webcast will be later archived on Channelchek as part of its C-Suite Series www.channelchek.com/c-suite, and on its YouTube channel: www.youtube.com/channelchek.

Registration for the live event may be limited but access to the replay after the event will be on the Company's website www.goviex.com.

About GoviEx Uranium Inc.

GoviEx (TSXV: GXU) (OTCQB: GVXXF) is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Information Contacts

Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Note to United States Persons: The disclosure contained herein does not constitute an offer to sell or the solicitation of an offer to buy securities of GoviEx Uranium Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94968

The board of Anglo Pacific Group plc (LON:APF) has announced that it will pay a dividend of UK£0.018 per share on the 10th of November. Including this payment, the dividend yield on the stock will be 5.7%, which is a modest boost for shareholders' returns.

See our latest analysis for Anglo Pacific Group

Anglo Pacific Group's Distributions May Be Difficult To Sustain

The dividend yield is a little bit low, but sustainability of the payments is also an important part of evaluating an income stock. Even though Anglo Pacific Group is not generating a profit, it is still paying a dividend. Along with this, it is also not generating free cash flows, which raises concerns about the sustainability of the dividend.

Recent, EPS has fallen by 18.8%, so this could continue over the next year. This will push the company into unprofitability, which means the managers will have to choose between suspending the dividend, or paying it out of cash reserves.

Dividend Volatility

Although the company has a long dividend history, it has been cut at least once in the last 10 years. Since 2011, the first annual payment was US$0.13, compared to the most recent full-year payment of US$0.12. The dividend has shrunk at a rate of less than 1% a year over this period. Generally, we don't like to see a dividend that has been declining over time as this can degrade shareholders' returns and indicate that the company may be running into problems.

The Dividend Has Limited Growth Potential

With a relatively unstable dividend, it's even more important to see if earnings per share is growing. Over the past five years, it looks as though Anglo Pacific Group's EPS has declined at around 19% a year. A sharp decline in earnings per share is not great from from a dividend perspective. Even conservative payout ratios can come under pressure if earnings fall far enough.

We'd also point out that Anglo Pacific Group has issued stock equal to 18% of shares outstanding. Regularly doing this can be detrimental – it's hard to grow dividends per share when new shares are regularly being created.

Anglo Pacific Group's Dividend Doesn't Look Great

Overall, this isn't a great candidate as an income investment, even though the dividend was stable this year. The company seems to be stretching itself a bit to make such big payments, but it doesn't appear they can be consistent over time. Overall, the dividend is not reliable enough to make this a good income stock.

Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. For instance, we've picked out 3 warning signs for Anglo Pacific Group that investors should take into consideration. If you are a dividend investor, you might also want to look at our curated list of high performing dividend stock.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

• UUUU, RadTran to study the recovery of thorium, radium, from existing rare earth carbonate and uranium process streams

• The alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain

• The partnership aims to alleviate the major bottleneck in the targeted alpha therapy market

Due to its highly unique licenses, capabilities, and expertise, Energy Fuels (NYSE: UUUU) (TSX: EFR) is able to supply critical minerals and materials that no other company in the U.S. – or possibly outside of China – is able to do. Energy Fuels’ business revolves around its ability to recover and properly manage uranium and radionuclides in one-of-a-kind ways in the U.S. Energy Fuels is the leading U.S. uranium producer. The company just began producing rare earth by unlocking the value of a mineral called monazite, because this mineral contains radioactive elements, uranium, and thorium. And, UUUU’s most recent strategic partnership takes the company into an entirely new realm: the world of medicine.

Last month Energy Fuels entered into a strategic alliance with RadTran LLC to evaluate the recovery of thorium, as well as possibly radium, from the company’s existing rare earth carbonate and uranium process streams (https://ibn.fm/cT29O). RadTran is a Colorado-based technology development company focused on…

Read More>>

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU

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In this article we are going to estimate the intrinsic value of Anglo Pacific Group plc (LON:APF) by projecting its future cash flows and then discounting them to today's value. This will be done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

View our latest analysis for Anglo Pacific Group

The method

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$274m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 0.9%. We discount the terminal cash flows to today's value at a cost of equity of 7.5%.

Terminal Value (TV)= FCF₂₀₃₁ × (1 + g) ÷ (r – g) = US$33m× (1 + 0.9%) ÷ (7.5%– 0.9%) = US$515m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$515m÷ ( 1 + 7.5%)¹⁰= US$251m

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$525m. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of UK£1.3, the company appears a touch undervalued at a 29% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

Important assumptions

We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Anglo Pacific Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 1.231. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Next Steps:

Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Can we work out why the company is trading at a discount to intrinsic value? For Anglo Pacific Group, we've put together three important aspects you should assess:

1. Risks: For example, we've discovered 3 warning signs for Anglo Pacific Group that you should be aware of before investing here.

2. Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for APF's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.

3. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the LSE every day. If you want to find the calculation for other stocks just search here.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

Here are five stocks added to the Zacks Rank #5 (Strong Sell) List today:

Cardlytics, Inc. CDLX operates an advertising platform within financial institutions digital channels. The Zacks Consensus Estimate for its current year earnings has been revised 57.9% downward over the last 30 days.

Energy Fuels Inc. UUUU engages in the extraction, recovery, exploration, and sale of conventional and in situ uranium recovery. The Zacks Consensus Estimate for its current year earnings has been revised 23.5% downward over the last 30 days.

Invacare Corporation IVC designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets. The Zacks Consensus Estimate for its current year earnings has been revised 11.5% downward over the last 30 days.

Poseida Therapeutics, Inc. PSTX is a clinical-stage biopharmaceutical company, focuses on developing therapeutics for patients with high unmet medical needs. The Zacks Consensus Estimate for its current year earnings has been revised 9.8% downward over the last 30 days.

Cytokinetics, Incorporated CYTK is a late-stage biopharmaceutical company. The Zacks Consensus Estimate for its current year earnings has been revised 15.7% downward over the last 30 days.

View the entire Zacks Rank #5 List.

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/NOT FOR DISSEMINATION IN THE U.S. NOR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN/

VANCOUVER, BC, Aug. 26, 2021 /CNW/ – Virginia Energy Resources Inc. (TSXV: VUI) ("Virginia Energy" or the "Company") is pleased to announce a proposed non-brokered private placement of up to 6.5 million common shares of the Company at a price of $0.20 per common share for gross proceeds of up to $1.3 million ("Private Placement").

The Private Placement is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four-month hold period, in accordance with applicable securities laws. Finder's fees of up to 3% may be paid to certain finders.

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

Results of Annual General Meeting

The Company is also pleased to announce the voting results from the Annual General Meeting held on August 11^th in Vancouver, B.C. (the "Meeting"). A total of 16,939,305 common shares of the 57,405,614 common shares outstanding at the record date were voted at the Meeting, representing 29.5% of the issued and outstanding common shares of the Company at the record date.

Each of the following nominees set forth in the Company's management information circular dated July 12, 2021, was elected as a Director of the Company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed: Walter Coles, Sr., Neal Keesee, Harold R. Roberts, and Joseph M. Kiely. Shareholders indicated overwhelming support for the nominees, with each nominee receiving greater than 99.5% votes "for" and less than 0.5% of votes "withheld". Similarly the other matters placed before shareholders at the meeting received near unanimous support as well: setting the number of directors at four, approving the reappointment of Smythe LLP, Chartered Professional Accountants, as the auditors of the Company, authorizing the Company's Board of Directors to fix the auditors' remuneration as well as ratifying and approving the Company's 10% rolling Stock Option Plan. Each of these other matters received 99.99% or more of votes cast "for" and 0.01% or fewer of votes cast "against."

About Virginia Energy

Virginia Energy Resources Inc. is a uranium development and exploration company. The Company holds a 100% controlling interest in the advanced stage Coles Hill uranium project located in south central Virginia, USA.

On Behalf of the Board of Directors of

VIRGINIA ENERGY RESOURCES INC.

Walter Coles, Sr.
President & CEO

Certain of the statements in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, implications regarding the successful or unsuccessful closing of a private placement financing, or statements relating to filing of a lawsuit in federal court against the Commonwealth of Virginia. Forward-looking statements and forward-looking information generally express predictions, expectations, beliefs, plans, projections, or assumptions regarding future events or performance, they do not constitute historical fact and they are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those anticipated or implied in such information or statements. Forward-looking statements and information contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements or information will prove to be accurate. Actual results may differ materially from those anticipated or projected.

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.

The securities referred to in this news release have not been, nor will they be, 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, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

SOURCE Virginia Energy Resources Inc.

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c7346.html

PERTH, Australia, Aug. 26, 2021 /CNW Telbec/ – Galaxy Resources Limited (ASX: GXY) (Company) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company's platform (ASX):

• Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

SOURCE Galaxy Resources Limited

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c8739.html

LONDON, UK / ACCESSWIRE / August 26, 2021 / Anglo Pacific Group PLC (the 'Company' or 'Anglo Pacific') (LSE:APF)(TSX:APY) announces clarification of the dividend timetable. Following the move to reporting results in US dollars rather than in pound sterling the Company reconfirm that the Q1 2021 interim dividend of 1.75p, will be paid on 10 November to shareholders on the register at 8 October 2021.

Full Dividend Timetable
The timetable shown below, reiterates the interim dividend dates for 2021.

The final dividend for 2021 will be determined based on the results for the year and growth opportunities executed or being progressed, and will be subject to shareholder approval at the 2022 AGM.

For further information:

Notes to Editors

About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

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

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:
https://www.accesswire.com/661440/Anglo-Pacific-Group-PLC-Announces-Clarification-of-Dividend-Timetable

Massapê Discovery: 13.96 g/t 2PGE+Au and 6.77 g/t 2PGE+Au from in-situ chromitite reef outcrop samples and 15 m at 1.65 g/t 2PGE+Au from trench channel sample

VANCOUVER, British Columbia, Aug. 26, 2021 (GLOBE NEWSWIRE) — ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for two chromitite reef outcrop samples, 25 Trado^® auger holes and five trenches from the Massapê target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. The high-grade Massapê discovery is situated approximately four kilometres (“km”) along trend to the north of the Trapia deposit area, which is included in ValOre’s global 2019 NI 43-101 Pedra Branca inferred resource of 1,067,000 ounces (“oz”) 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. CLICK HERE for a regional map of the Massapê target and Pedra Branca project (Figure 1).

“2021 exploration at Massapê indicates the presence of a near-surface PGE zone extending to the south of historical drilling, where palladium and platinum mineralization was encountered in 3 of 5 historical holes,” stated ValOre’s VP of Exploration, Colin Smith. “The discovery of correlative high-grade and chromitite reef outcrops within three broadly mineralized trenches south of historical drilling warrants 500 m of follow-up core drilling for Massapê as part of a 1000 metre expansion to the on-going program.”

Massapê Discovery Trenching, Trado^® Auger Drilling and Rock Sampling Highlights:

• High-grade PGE assay results from two chromitite reef outcrop samples:

  • 13.96 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), and

  • 6.77 g/t 2PGE+Au;

• These two high-grade PGE samples extend known PGE mineralization an additional 200 metres (“m”), creating a total Massapê target strike length of >800 m (remains open to south);

• All 5 trenches* completed along the Massapê target trend in 2021 returned significant intervals of PGE mineralization, including:

  • 15 m at 1.65 g/t 2PGE+Au, incl. 6 m at 3.40 g/t 2PGE+Au

  • 54 m at 0.39 g/t 2PGE+Au, incl. 2 m at 1.14 g/t 2PGE+Au, and 9 m at 1.2 g/t 2PGE+Au

  • 28 m at 0.44 g/t 2PGE+Au;

• Trado^® auger drilling returned surface PGE assay results in 15 of 25 holes, with assay highlights including:

  • 3.5 m at 0.87 g/t 2PGE+Au from surface, including 1.5 m at 1.3 g/t 2PGE+Au from 2 m

  • 4 m at 0.59 g/t 2PGE+Au from surface, including 1 m at 1.84 g/t 2PGE+Au from 1 m

  • 11 m at 0.34 g/t 2PGE+Au from surface

  • 8 m at 0.36 g/t 2PGE+Au from surface;

• Excellent exploration upside remains, with the currently defined >800-metre-long mineralized ultramafic (“UM”) trend fully open to the south, in the direction of improving in-situ PGE grades and strong magnetic signature;

• Massapê target is drill-ready, with 500 m of core drilling planned for September as part of the planned 1000 metre expansion to the previously announced DDH program.

*Reported trench assay interval lengths are channel samples and estimated to represent 80-90% true width

Massapê Target 2021 Exploration: Trenching, Trado^® Auger Drilling and Rock Sampling

Compilation and review of historical data from Massapê revealed considerable geochemical, geophysical, and geological similarities to the PGE deposits which comprise ValOre’s current NI 43-101 inferred resource, and consequently designated the target as high priority. The application of ValOre’s proven and effective systematic exploration methodology was deployed and served to rapidly advance Massapê to drill-ready stage (CLICK HERE for news release dated March 23, 2021; CLICK HERE for news release dated April 26, 2021; CLICK HERE for news release dated July 12, 2021; and CLICK HERE for news release dated August 23, 2021). Given the continued success of ValOre’s sequential exploration methodology, district-wide target generation and assessment has been being accelerated.

The Massapê target area is characterized by strong historical PGE-in-soil anomalies, high-grade historical and ValOre surface grab samples (including 13 samples >10 g/t 2PGE+Au over 800 m of geological trend), a compelling >1-km-long magnetic anomaly, strong local WorldView spectral signatures (CLICK HERE for additional information on WorldView spectral data), and PGE mineralization in 3 of 5 historical core drill holes.

ValOre conducted detailed geological mapping and prospecting of the 1 km-long trend and followed-up with 25 Trado^® auger holes (122 m total, equating to 129 samples) and 5 trenches (216 m total). At-surface, PGE-bearing UM or UM-derived rocks were intercepted in 15 of 25 Trado^® holes, and in all 5 trenches, confirming the presence of in-situ surface PGE mineralization along a geological trend of approximately 800 m. CLICK HERE for a plan map of the Massape target (Figure 2).

Trench channel sample assay highlights include multiple high-grade PGE results from the three southernmost trenches, including:

• TR21MS05: 15 m at 1.65 g/t 2PGE+Au, including 6 m at 3.4 g/t 2PGE+Au;

• TR21MS03: 54 m at 0.39 g/t 2PGE+Au, including 2 m at 1.14 g/t 2PGE+Au and 9 m at 1.2 g/t 2PGE+Au;

• TR21MS04 : 28 m at 0.44 g/t 2PGE+Au.

CLICK HERE for detailed trench cross sections (Figures 3a, 3b, 3c) and see Table 1 below for a summary of significant assay results for all 5 trenches.

High-grade PGE assays (13.96 g/t 2PGE+Au and 6.77 g/t 2PGE+Au) were returned from two samples collected from correlative chromitite reefs exposed in trenches TR21MS04 and TR21MS05, extending known PGE mineralization for an additional 200 m to the south of the existing historical core drilling area. CLICK HERE for detailed sample photographs (Figure 4).

Trado^® auger assay highlights include holes AD21MS19, which returned 3.5 m at 0.87 g/t 2PGE+Au from surface, including 1.5 m at 1.3 g/t 2PGE+Au from 2 m, and hole AD21MS14 which returned 11 m at 0.34 g/t 2PGE+Au from surface. See Table 1 below for a summary of significant Trado^® assay results.

Table 1: Trado^® Auger Drilling and Trenching Highlights

*Reported trench assay interval lengths are channel samples and estimated to represent 80-90% true width

About Trado^® Auger Drilling and Trenching Methodology

Please CLICK HERE to view ValOre’s news release of March 23, 2021 for detailed information regarding Trado^® auger drilling and trenching methodologies.

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (QP)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

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

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce it has appointed C. Trevor Perkins as Vice President, Exploration. Mr. Perkins is a Professional Geologist with wide-ranging experience in planning and executing mineral exploration programs and managing exploration teams. He brings a proven track record of discovery and results from a successful 26-year career in mineral exploration in some of the world’s most prolific mining regions.

Mr. Perkins has been Exploration Manager at Azincourt since October of 2020. He’s been responsible for leading exploration efforts at the Company’s East Preston uranium project, located in the Western Athabasca Basin, Saskatchewan.

Prior to joining Azincourt, Mr. Perkins held the title of Exploration Manager for UEX Corporation, responsible for overseeing exploration in the Athabasca Basin, Saskatchewan. As a Qualified Person for UEX’s uranium and cobalt projects, he was responsible for several 43-101 technical reports and resource estimates for both the Christie Lake and West Bear Projects. In addition, he managed the team that made the Ōrora Uranium Deposit discovery 2017.

Mr. Perkins was also Senior Geoscientist with Rio Tinto and spent a decade with Cameco Corporation. At Cameco he served as Vice President, Exploration for Cameco Mongolia, District Geologist for Europe and Asia, Senior Project Geologist for Arnhem Land in Australia, and a Project Geologist for Cameco’s Athabasca projects. As Project Geologist for the McArthur River project, he led the team that discovered the McArthur River North Extension zones (110Mlb U3O8) and as Senior Project Geologist based in Darwin, Australia, he led the team that discovered the Angulari Uranium Deposit (20Mlb U3O8).

“We’re very pleased to elevate Trevor’s role with the Company, which is now more reflective of his growing role and increased responsibilities,” said CEO, Alex Klenman. “Since coming on board last year he has brought both a high degree of professionalism and a real hunger and enthusiasm for discovery. He has been directly involved in several significant uranium discoveries in the past and has the proven ability to direct large scale exploration programs. It’s a great fit and we’re happy to bring him on as VP of Exploration,” continued Mr. Klenman.

“I am very excited to move into this new role and take on the added responsibility that comes with it,” commented Trevor Perkins, Vice President, Exploration. “This is an exciting time in the Uranium space, as it looks like we are poised for positive movement. I am eager to move forward with larger programs to evaluate our East Preston Project and look for opportunities to expand our exploration portfolio,” continued Mr. Perkins.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, 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.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

LONDON, UK / ACCESSWIRE / August 25, 2021 / Anglo Pacific Group PLC ('Anglo Pacific', the 'Company', the 'Group') (LSE:APF)(TSX:APY) is pleased to announce interim results for the six months ended 30 June 2021 which are available on both the Group's website at www.anglopacificgroup.com and on SEDAR at www.SEDAR.com.

Following the transformational $205m Voisey's Bay cobalt stream acquisition in March 2021 and the associated financing, the Company has determined that it is now appropriate to commence reporting results in US dollars rather than in British pounds. With four of the Group's nine royalties being received in US dollars, the majority of Anglo Pacific's revenue, and the remaining ones largely being based on US dollar prices but then converted to local currency, the Company feels now is the right time to transition its presentation currency to one that more appropriately reflects the underlying performance of the business and is in line with its peers.

The change in presentation currency does not impact the underlying business nor dividends, in particular the previously announced interim dividends of 1.75p per share to be paid in November 2021, December 2021 and February 2022.

Results

* Following the application of IFRS 9, the royalties received from EVBC are reflected in the fair value movement of the underlying royalty rather than recorded as royalty income.

Click on, or paste the following link into your web browser, to view the full announcement.

http://www.rns-pdf.londonstockexchange.com/rns/6832J_1-2021-8-25.pdf

For further information:

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

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:
https://www.accesswire.com/661262/Anglo-Pacific-Group-PLC-Announces-Interim-Results-for-6-Months-Ended-30-June-2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

LONDON, UK / ACCESSWIRE / August 25, 2021 / Anglo Pacific Group PLC ('Anglo Pacific' or the 'Group') (LSE:APF)(TSX:APY) announces that Julian Treger has indicated that he wishes to step down from his role as Chief Executive Officer ('CEO') in due course after eight years in the role. Mr Treger will remain as CEO, leading the team and the Group's strategic objectives as normal until 31 March 2022, thus ensuring a smooth transition to new leadership for Anglo Pacific.

Mr Treger joined Anglo Pacific in October 2013 and has been instrumental in leading the transition of the business away from coal and towards 21^st century commodities aligned to the decarbonisation of energy which will be required to meet climate change goals.

He has led the Group's US$450m investments over the last eight years, including the transformative US$205m Voisey's Bay cobalt stream acquisition, which was completed in March 2021. These acquisitions now mean that over 60% of the Group's asset base by value are in base and battery metals.

Equally important, Mr Treger has built a strong team with considerable experience of originating, executing, and financing acquisitions, thereby ensuring that the business will continue to grow in the future.

In the meantime, the Nomination Committee has, in accordance with its succession planning framework, commenced a comprehensive search process to choose a new CEO and will update the market on progress in due course.

Commenting on his decision, Julian Treger, outgoing CEO:
"2021 has been truly transformational for Anglo Pacific, as we completed our largest ever acquisition in March of the Voisey's Bay cobalt stream. The Company has been transformed from predominantly a single producing royalty holder in 2013, which is when I took over, to a business with a stable revenue profile and exposure to commodities which should be key towards the transition away from fossil fuels and into cleaner energy and technology.

With an experienced management team in place, it now feels like the right time to hand over to somebody new and for me to pursue other business interests in due course. During the transition period, I will remain committed to all of our stakeholders and will give the Board and management all possible support during the succession process so we can find a suitable, new CEO to steer Anglo Pacific through its next phase of growth.

I have thoroughly enjoyed my time at Anglo Pacific, and I would like to thank my Board colleagues both past and present and the talented and dedicated team which I will leave behind. I strongly believe they will continue to grow the business into one of the leading royalties and streaming businesses globally."

Patrick Meier, Chairman, commented:
"I would like to thank Julian for his success in transforming the fortunes of Anglo Pacific. The business today is barely recognisable from that which he took over, and he had the vision and leadership to pivot towards commodities which will be vital to achieving climate change goals with sustainability firmly at the forefront. His commitment and astute investment skills have been key to our success.

On behalf of the Board, I would like to give our appreciation for all Julian has done in creating the Company which we are today. He will leave after the transition period with our very best wishes, and we have no doubt that he will continue to be successful in whatever he does next."

Enquiries:

Notes to Editors
About the Company
Anglo Pacific PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

Important Information
This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of the UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

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

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:
https://www.accesswire.com/661244/Anglo-Pacific-Group-PLC-Announces-Chief-Executive-Officer-Transition