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FRANKLIN, Ind., June 10, 2021 (GLOBE NEWSWIRE) — IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that, further to the Company’s press release dated June 1, 2021, the Company’s non-brokered private placement has been increased to a maximum of up to 9,500,000 units of the Company (the "Units") at a price of C$0.20 per Unit (the "Issue Price") for gross proceeds to the Company of up to C$1,900,000 (the "Offering"). There is no minimum offering amount.

Each Unit will consist of one common share of IBC (each, a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.23 at any time prior to the date which is 2 years following completion of the Offering.

It is anticipated that the private placement will close on or before June 18, 2021 and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV”), and other customary conditions.

Proceeds of the private placement will be used for working capital and general corporate purposes.

The Offering will take place by way of a private placement to qualified investors in such provinces of Canada (except Quebec) as the Company may designate, and otherwise in those jurisdictions where the Offering can lawfully be made, including the United States under applicable private placement exemptions.

It is expected that certain directors and officers of the Company will participate in the Offering and therefore the proposed issuance of the Common Shares under the Offering constitutes a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of any securities issued to nor the consideration paid by such persons would exceed 25% of the Company’s market capitalization.

All of the securities sold pursuant to the Offering will be subject to a four month hold period, which will expire four months and one day from the date of closing.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark Smith”

Mark Smith P.E., Esq., Chairman

Contact:

Mark A. Smith, Chairman
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jsims@policycom.com

Website: www.ibcadvancedalloys.com

@IBCAdvanced $IB $IAALF #Beryllium #Beralcast

About IBC Advanced Alloys Corp.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast^® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, and Pennsylvania. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

Cautionary Statements

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.

Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the pricing and composition of the Units, the expected closing date and use of proceeds and the expected participation by certain directors and officers. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

Please see “Risks Factors” in our Annual Information Form available under the Company’s profile at www.sedar.com, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

BEDFORD, NS / ACCESSWIRE / June 10, 2021 / (TSXV:SSE)(FRA:S6Q1) – Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") is pleased to announce the commencement of its Phase 2 ground exploration program on the 1,130-hectare Jackie Au-Ag property ("Jackie" or the "Property").

The current program will concentrate around a pristine exploration target with promising Au-Ag assays from our Phase 1 prospecting and rock sampling program (see Figures 1 and 2). The work will be performed on a 100-hectare section of the Property with grid-controlled detailed geological mapping and rock sampling focused on a 25-hectare central block covering the core of the gold and silver discovery area with additional wider spaced grid mapping of the surrounding area.

"We are excited about the future prospects for Jackie given the lack of historical exploration and the intense silicate and oxide alteration with high-grade precious metal values ranging up to 9.65 g/t Au and 515 g/t Ag identified in the target area anomaly which will provide the main focus for the new program," said Greg Davison, Silver Spruce VP Exploration. "Our Hermosillo-based geological team, mobilizing on June 11^th, will focus on tightly-spaced 25-50 metre grid sampling and mapping around our discovery and on ASTER targets noted at higher elevations. The Phase 2 program will strive to characterize the size and quality of the anomaly with the goal being drill targets for Phase 3 exploration in Q3 2021 after the rainy season."

Figure 1. Jackie and Diamante 2 Concession Location Map. Access from Tepoca south on Highway #117 and local road to La Quema. Discovery area 3km north of La Quema is indicated by the white arrow.

Figure 2.3D topographic image showing location of principal exploration target on the Jackie property.

The Company, with a six-person team (two senior geologists, two junior geologist and two field assistants) and all necessary logistical support will undertake a Phase 2 exploration program, including rock sampling and geological mapping of known areas exhibiting significant alteration or mineralization, collection of structural data and alteration zoning to assist with vectoring toward potential Phase 3 drilling targets. The team also will investigate several known hyperspectral alteration targets identified from satellite imagery. All aspects of the exploration program will be conducted with strict adherence to COVID-19 protocols for personal safety.

Figure 3, identified as one of the early exploration targets from aerial photography and review of regional ASTER (Advanced Spaceborne Thermal Emission and Reflectance Radiometer) imagery, is at the centre of the target area for Phase 2 exploration. The preliminary prospecting identified a distinctive andesite ridge with intense oxidation, silicification and argillic alteration, and a notable paucity of vegetation located 35-50 metres vertical above the valley floor. Geochemical analyses of precious metals clearly identified a strong Au-Ag anomaly, commonly though not exclusively, associated with elevated Hg, Pb, Zn, Cd, As, Sb and Cu with spatial trends similar to the multi-element data recorded for the nearby El Mezquite property.

The extensive oxide and silicate alteration, verified by preliminary aiSIRIS results of hyperspectral analysis, and represented bleached and oxidized argillic zones with aluminous clay minerals and muscovite, and commonly low metal values. Samples collected from the northern area of the ridge displayed intense replacement by zeolite, kaolinite, alunite, montmorillonite, opaline silica and muscovite though contained the bulk of the anomalous gold and silver values.

Receipt of the final batch of assay samples was confirmed from ALS on June 7^th and interpretation of the hyperspectral mineral assemblages and potential epithermal alteration zones is underway. The data will be plotted with property-wide ASTER and newly acquired LiDAR imagery.

Figure 3. Ridge located 50 metres above the valley floor, showing intense oxidation and argillic alteration within large polymetallic anomaly as indicated in Figures 1 and 2.

Figure 4. Phase 2 grid sampling area on Phase 1 geochemistry (Au ppm only), Jackie property. Inset map with 50 metre grid location map illustrating multi-element anomaly displaying Au (ppm), Ag (ppm), Pb (ppm), Zn (ppm) and Cd (ppm).

Geochemical maps illustrating the Phase 1 geochemical anomalies, based on 75^th, 90^th, 95^th and 98^th percentiles, are provided in Figure 4 for gold with inset map for Au, Ag, Pb, Zn and Cd. The additional geochemistry and geological maps and images from the field program are provided on the recently updated Silver Spruce website (www.silverspruceresources.com).

Project Background

The Company recently signed a Definitive Agreement (Press release November 30, 2020) with Colibri Resource Corp. to acquire 50% interest in Jackie, an early-stage precious metal project located 175 km east of Hermosillo, Sonora, Mexico. The large grassroots property is located in a very productive region only one to two kilometres south from our El Mezquite and Diamante properties and adjacent to the west of Minera Alamos' Santana project, and approximately six kilometres northwest of their Nicho deposit currently under development.

The Jackie Project is located within the western portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the precious metals-rich Mojave-Sonora Megashear.

Other nearby large operating mines include Alamos Gold's Los Mulatos gold mine and Agnico Eagle's La India gold mine located 50-60 km to the northeast, Agnico Eagle's Pinos Altos Mine, 95 km southeast and Argonaut's La Colorada Mine, 100 km to the west. Exploration is very active with adjacent and nearby properties reported to be held by Minera Alamos, Newmont, Garibaldi, Evrim, Kootenay Silver and Peñoles.

The 1,130-hectare Property is easily accessible from Hermosillo to the Tepoca area and heading south from Mexican Highway #16 or west from Highway #117, or from Ciudad Obregón travelling northeast on Hwy. #117 and west to the pueblo of La Quema with vehicles and then pack teams along dry river beds, dirt roads and trails. High voltage power lines are located on Highway #16.

Geochemical Analysis, Quality Assurance and Quality Control

Rock samples will be delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

Pulps (50gram split) will be submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24) and Four Acid Digestion with Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m).

Splits of crushed rejects will be sent to ALS in Reno, NV for hyperspectral analysis (HYP-PKG) using the Terraspec 4 and aiSIRIS identification of the principal silicate, sulphate, carbonate and hydrous oxide species, namely the alteration minerals and their relative intensity.

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) will be inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples will be reviewed by the Company's QP and evaluated for acceptable tolerances. All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the Jackie Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is earning 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO
(902) 826-1579
mkinley@silverspruceresources.com

info@silverspruceresources.com
www.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/651264/Silver-Spruce-Targets-its-High-Grade-Discovery-in-Phase-2-Exploration-Startup-on-Jackie-Au-Ag-Property-Sonora-Mexico

TORONTO, June 10, 2021 (GLOBE NEWSWIRE) — Goodman & Company, Investment Counsel Inc. (the “Manager”) is pleased to announce Jonathan Goodman and Matthew Goodman as new co-lead Portfolio Managers to the following funds:

• CMP 2020 Resource Limited Partnership

• CMP 2021 Resource Limited Partnership

• Dundee Global Resource Class

Mr. Michael Costa, former Portfolio Manager, will continue in a consulting role as needed with the Manager. We would like to thank Michael for his dedication and contributions and wish him the best in his future endeavors.

Jonathan Goodman has over 30 years mining investment and operating experience and has built extensive relationships in the global mining resource and finance sectors over a distinguished career. He has worked as a geologist, senior analyst, portfolio manager and senior executive, operated a mining company, and led a mining-focused investment banking group. Jonathan held the role of Executive Chairman of Dundee Precious Metals (TSX:DPM) from April 2013 to September 2017, at which time he was appointed Chairman, and was its CEO from 1995 until 2013. Mr. Goodman is President and Chief Executive Officer of Dundee Corporation. Mr. Goodman graduated from the Colorado School of Mines as a Professional Engineer, holds a Master of Business Administration from the University of Toronto and is a CFA Charterholder.

Matthew Goodman joined the Manager in 2013 and was responsible for evaluating strategic resource investment opportunities. He was also previously part of the CMP funds management team. Matthew is currently the Portfolio Manager of New Venture Equities Fund LP, a private equity-style investment fund with a principal investment strategy to invest in a portfolio comprised of securities that conduct business within the mining sector. His background includes mineral exploration and equity capital markets experience. Matthew Goodman is a CFA Charterholder and holds an Honours Bachelor of Social Science degree, specializing in Microeconomic Analysis and Global Economics from York University.

About the Manager
The Manager is a subsidiary of Dundee Corporation (TSX:DC.A). The Manager is a registered portfolio manager and exempt market dealer across Canada, and a registered investment fund manager in the provinces of Ontario, Quebec and Newfoundland and Labrador.

About CMP
CMP™ is a pioneer in flow-through investing, with a history dating back to when flow-through shares were first introduced by the federal government. Since its creation in 1984, CMP has successfully raised and invested over $3.0 billion in companies active in exploration and development efforts across Canada. When combined with the flow-through limited partnerships of Canada Dominion, the two form the largest flow-through investing platform in Canada, raising a combined total of more than $4.3 billion in assets throughout their history.

For more information, contact our Customer Relations Centre at 1.866.694.5672 or visit www.goodmanandcompany.com.

VANCOUVER, BC, June 10, 2021 /CNW/ – Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") announces the results of matters voted upon at its Annual General Meeting (the "Meeting") of shareholders held earlier today.

A total of 70,374,901 votes were cast, representing 49.4% of the issued and outstanding common shares as of the record date for the Meeting. All nominated directors were elected with voting results tabulated as follows:

Shareholders also voted 74.0% in favour of the approval of all unallocated awards under the Corporation's restricted share unit plan and 99.5% in favour to set the number of directors at six. In addition, PricewaterhouseCoopers LLP, Chartered Professional Accountants, were re-appointed as auditors with 99.7% voting support.

About Alexco

Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory, one of the highest-grade silver deposits in the world. Alexco is currently advancing Keno Hill to production and started concentrate production and shipments in Q1 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation's mineral resources through successful exploration.

Some statements ("forward-looking statements") in this news release contain forward-looking information concerning the Company's anticipated results and developments in the Company's operations in future periods, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements with respect to the timing of activities and reports. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company expressly 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 otherwise required by applicable securities legislation.

View original content:http://www.prnewswire.com/news-releases/alexco-reports-voting-results-from-annual-general-meeting-301310519.html

SOURCE Alexco Resource Corp.

View original content: http://www.newswire.ca/en/releases/archive/June2021/10/c4843.html

VANCOUVER, June 10, 2021 /CNW/ – Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") is pleased to announce that it has closed the previously announced bought deal public offering (the "Offering") with a syndicate of underwriters (the "Underwriters") co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation and including R.F. Lafferty & Co., Inc., A.G.P./Alliance Global Partners and Roth Capital Partners, LLC (collectively the "Underwriters"). With full exercise of the Underwriters' over-allotment option, the Company has issued a total of 8,214,450 common shares (the "Shares") at a price of C$3.50 per Share (the "Offering Price") for gross proceeds of $28,750,575.

In connection with the Offering, the Company has paid the Underwriters a cash commission equal to 1.5% on approximately $2.875 million of the aggregate gross proceeds (representing the proceeds raised from sales to members of the President's List) and a cash commission equal to 5.0% on the remaining gross proceeds of approximately $25.875 million.

The net proceeds from the sale of the Shares will be used for development and site expenditures at Keno Hill and for general corporate and working capital purposes, as set out in more detail in the Prospectus (as defined below) as filed on the Company's profile on www.sedar.com.

The Offering was completed pursuant to a prospectus supplement dated June 7, 2021 to the short form base shelf prospectus of the Company dated November 2, 2020 (collectively, the "Prospectus") in the provinces of British Columbia, Ontario, Alberta, Saskatchewan, and Manitoba, in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable state securities laws and other jurisdictions outside of Canada and the United States on an exempt basis.

The securities offered have not been and will not be registered under the U.S. Securities Act, or under any securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, a U.S. person or person in the United States, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.

About Alexco

Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory, one of the highest-grade silver deposits in the world. Alexco is currently advancing Keno Hill to production and started concentrate production and shipments in Q1 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation's mineral resources through successful exploration.

Please visit the Alexco website at www.alexcoresource.com

Some statements ("forward-looking statements") in this news release contain forward-looking information concerning plans related to Alexco's business and other matters that may occur in the future, made as of the date of this news release including the intended use of proceeds. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to legislative and/or regulatory changes; risks and uncertainties relating to the COVID-19 pandemic including but not limited to business closures, travel restrictions, quarantines and a general reduction in consumer activity; actual results and timing of exploration and development, mining, environmental services and remediation and reclamation activities; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineral resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited to, that circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel, costs associated with implementation of health and safety protocols, increased labour and transportation costs, and other related impacts, will not change in a materially adverse manner; that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development activities will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Alexco expressly 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 otherwise required by applicable securities legislation.

View original content:http://www.prnewswire.com/news-releases/alexco-closes-c28-75-million-bought-deal-equity-financing-301310074.html

SOURCE Alexco Resource Corp.

View original content: http://www.newswire.ca/en/releases/archive/June2021/10/c9143.html

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

TORONTO, June 10, 2021 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Company”) is pleased to announce that further to its news release dated June 7, 2021, it has completed a non-brokered private placement for aggregate gross proceeds of $350,000 (the “Offering”). The Offering consisted of (i) 5,100,000 flow-through shares (“FT Shares”) at a price of $0.05 per FT Share for gross proceeds of up to $255,000; and (ii) 1,900,000 hard dollar units (“HD Units”) at a price of $0.05 per HD Unit for gross proceeds of $95,000.

Each HD Unit is composed of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share (a “Warrant Share”) at a price of $0.07 per Warrant Share until the date which is twenty-four (24) months following the closing date of the Offering, whereupon the Warrants will expire. Each FT Share is composed of one Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) (the “Tax Act”).

The proceeds raised from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) to pay for assay results on over 2,000 meters of drill core from the Company’s Good Hope Niobium Project near Marathon, Ontario and to fund the Company’s other properties in Ontario, Canada. The proceeds raised from the sale of the HD Units will be used for general working capital purposes and for exploration expenses on the Company’s properties.

Certain insiders of the Company subscribed, directly or indirectly for an aggregate of 2,200,000 FT Shares and 1,100,000 HD Units pursuant to the Offering. Such participation is considered a “related party transaction” as such terms are defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), requiring the Company, in the absence of exemptions, to obtain a formal valuation for and minority shareholder approval of the “related party transactions”. The Company is relying on an exemption from the requirement to obtain formal valuation and minority shareholder approval as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

In connection with the closing of the Offering, eligible finders who introduced investors to the Offering have been (i) paid an aggregate cash commission of $4,800; and (ii) issued an aggregate 96,000 finder units (the “Finder Unit”). Each Finder Unit is composed of one Common Share and one Common Share purchase warrant (a “Finder Warrant”). Each Finder Warrant will entitle the holder to purchase one Common Share (a “Finder Warrant Share”) at a price of $0.07 per Finder Warrant Share until the date which is twenty-four (24) months following the closing date of the Offering.

The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

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

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.

The Timmins, Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.

In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.

The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon, Ontario with the primary target being niobium.

The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake and Grain Township, near Marathon, Ontario of which 19 claims are contiguous to the western boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation Mining’s Sally deposit.

For additional company information, please visit: www.platogold.com.

For further information, please contact:

Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

Forward Looking Statements

This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, completion of the Offering, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals may offset operating costs and future plans and objectives. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained; and an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains. Although management of Plato 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, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Halifax, Nova Scotia–(Newsfile Corp. – June 9, 2021) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF)ⁱ ("Ucore" or the "Company") is pleased with recent developments in Washington D.C. that are poised to strengthen United States supply chains and spur the domestic production capacity of rare earth elements ("REEs") and other critical materials.

On Tuesday, June 8th, 2021, United States President Joe Biden released a review of US supply chain vulnerabilities pursuant to Executive Order 14017. The review shows that the US government will continue to invest in REE technologies and production capabilities, which could serve to benefit Ucore, its wholly owned subsidiary, Innovation Metals Corp. ("IMC"), and their proprietary RapidSX™ separation technology for the separation of both light REEs ("LREEs") and heavy REEs ("HREEs"). Key recommendations include:

• Encourage the development and adoption of 21^st century standards for the extraction and processing of critical minerals;

• US $50 billion to establish a Supply Chain Resilience Program to monitor and forecast vulnerabilities and promote industry partnerships;

• A "trade strike force" to identify and counter unfair foreign trade practices, the first action of which will be to investigate unfair trade practices surrounding neodymium (NdFeB) permanent magnets;

• Reducing the time, cost, and risk of permitting for critical mineral mining projects; and

• Using the US government's buying power and investment authorities to encourage the purchase of critical materials from secure and reliable domestic and allied sources. This includes:

  • Additional funding for the Defense Production Act ("DPA") Title III program to scale emerging technologies for critical materials and enable offtake agreements; and

  • Recapitalizing the National Defense Stockpile to better buffer against supply chain threats.

Ucore Chairman and CEO, Pat Ryan, P.Eng. said, "We are very pleased with the White House's concern for REEs and its efforts to spur the domestic production of critical materials. China has long dominated the REE supply chain, but with the US government's help, we can and will use our groundbreaking 21^st Century separation technology, RapidSX, to bring control back into the hands of Americans. Our ALASKA2023 business model is founded on this transformative technology and the development of a resilient US supply chain through the development of two REE separation plants and ultimately a HREE mine at Bokan Mountain Alaska – the very definition of US resiliency."

ⁱ Ucore has received questions from shareholders regarding recent brokerage industry notices warning investors who hold shares in companies that do not share publicly available information about the Securities and Exchange Commission (the "SEC") adopting amendments to Rule 15c2-11 (the "Rule") and its impact on the quoted market for over-the-counter ("OTC") securities categorized as Pink No Information.

The OTC Markets Group has informed Ucore that as an OTCQX company, Ucore already shows good corporate governance by actively demonstrating its compliance with securities laws and meeting OTCQX disclosure standards, including making current information publicly available. The OTCQX market standards exceed the requirements for continued quoting under Rule 15c2-11 and the proposed amendments will not affect shareholders of UURAF.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare-Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this vision includes disrupting the People's Republic of China's ("PRC") dominance of the US REE supply chain through the development of a heavy rare-earth processing facility – the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy rare-earth element mineral resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX^® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements" regarding, among other things, the Company's ALASKA2023 Business Plan as well as the upcoming online awareness campaign. All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, litigation outcomes, events, or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results and actual results or developments may differ materially from those in forward-looking statements. In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to IMC, as suppliers for Ucore's expected future Alaska Strategic Metals Complex ("Alaska SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer off-take agreements. Ucore has also assumed that sufficient external funding will be secured to develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; unexpected or adverse outcomes in the currently outstanding litigation matters between Ucore and IBC Advanced Technologies, Inc.; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

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

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
+1 902 482 5214
mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87090

(Adds union comment, detail)

By Fabian Cambero

SANTIAGO, June 9 (Reuters) – Workers at BHP Group's Spence copper mine in Chile said on Wednesday they would extend negotiations with the company for a few more days to try to reach agreement on a new contract and avoid a strike at the operation, the union told Reuters.

The union representing 1,100 workers at the mine in Chile's northern Atacama Desert said it hoped to reach an agreement by the end of Thursday.

"We´ll extend our talks by two more days," a union official told Reuters late on Tuesday evening.

BHP did not immediately respond to a request for comment.

BHP is also negotiating with the union representing workers at Chile's Escondida copper mine, the world's largest, which told Reuters it was keeping an open mind but also building a war chest for a potential strike.

At the same time, 200 remote workers from BHP's Integrated Operations Center in the Chilean capital Santiago, who run Spence and Escondida, the world's largest copper mine, remain on strike after walking off the job when they failed to reach a contract agreement on May 27.

The announcement of a settlement at Spence will reduce some of the pressure on BHP. It comes as global copper prices hover near record highs and amid rising political risk in the region, with political shifts bringing potential changes to miners' taxation and royalty regimes under way in both No. 1 copper producer Chile and neighboring Peru, the No. 2 producer.

Spence, in northern Chile, produced 146,700 tonnes of copper last year out of Chile's total 5.7 million tonnes.

BHP said this year that it hoped a new, $2.46 billion concentrator plant at the site would extend the useful life of facility by more than 50 years and see it producing 300,000 tonnes a year by February next year. (Reporting by Fabian Cambero. Additional reporting by Melanie Burton in MELBOURNE; Editing by Jacqueline Wong and Gerry Doyle)

As of late, it has definitely been a great time to be an investor in Intrepid Potash, Inc. IPI. The stock has moved higher by 15.4% in the past month, while it is also above its 20-day SMA too. This combination of strong price performance and favorable technical could suggest that the stock may be on the right path.

We certainly think that this might be the case, particularly if you consider IPI’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as IPI has earned itself a Zacks Rank #2 (Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company. You can see the complete list of today’s Zacks #1 Rank stocks here.

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Just because a business does not make any money, does not mean that the stock will go down. Indeed, Stellar Resources (ASX:SRZ) stock is up 278% in the last year, providing strong gains for shareholders. 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.

Given its strong share price performance, we think it's worthwhile for Stellar Resources shareholders to consider whether its cash burn is concerning. 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.

View our latest analysis for Stellar Resources

When Might Stellar Resources Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In December 2020, Stellar Resources had AU$2.3m in cash, and was debt-free. Importantly, its cash burn was AU$663k over the trailing twelve months. So it had a cash runway of about 3.5 years from December 2020. A runway of this length affords the company the time and space it needs to develop the business. Depicted below, you can see how its cash holdings have changed over time.

How Is Stellar Resources' Cash Burn Changing Over Time?

Because Stellar Resources isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With cash burn dropping by 11% it seems management feel the company is spending enough to advance its business plans at an appropriate pace. Stellar Resources makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Stellar Resources To Raise More Cash For Growth?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Stellar Resources to raise more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. 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.

Stellar Resources' cash burn of AU$663k is about 2.4% of its AU$28m market capitalisation. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Is Stellar Resources' Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Stellar Resources' cash burn. For example, we think its cash runway suggests that the company is on a good path. On this analysis its cash burn reduction was its weakest feature, but we are not concerned about it. Looking at all the measures in this article, together, we're not worried about its rate of cash burn, which seems to be under control. On another note, Stellar Resources has 4 warning signs (and 2 which are significant) we think you should know about.

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. 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.

FRIEDENS, Pa., June 9, 2021 /CNW/ – Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) ("Corsa" or the "Company"), announced today that Peter V. Merritts, as part of his future retirement planning process, has elected to step down as Chief Executive Officer ("CEO") of the Company and a member of the Board of Directors and be appointed Chief Operating Officer ("COO") effective June 9, 2021. Mr. Merritts' decision is not the result of any dispute or disagreement with the Company or any matter related to the Company's operations, policies, management, or board of directors, but strictly a decision to provide the best opportunity for succession planning of the CEO position and Mr. Merritts' future retirement plans.

The Board of Directors has appointed Mr. Robert (Bob) J. Schneid as President and CEO and a director effective June 9, 2021. Mr. Schneid has over 34 years of experience working in the coal and electric utility industries in various roles for companies such as: Prospect Mining and Development Company, Walter Energy, Patriot Coal, Oxbow Carbon, CONSOL Energy and Costain Coal. He has a Master of Science Degree in Mineral and Energy Resource Economics from West Virginia University and a Bachelor of Science Degree in Energy Management from West Liberty University.

"On behalf of the Board of Directors, I would like to thank Pete for his contributions to Corsa as CEO, in particular for the role he played in guiding the Company over the last two years amidst the COVID-19 pandemic. The Board greatly appreciates Pete working with members of the Board on succession planning for a smooth CEO transition as part of his future retirement plans and his willingness to serve as Chief Operating Officer during the CEO transition", stated Mr. Ronald G. Stovash, Chairman of the Corporate Governance, Nominating, and Compensation Committee of the Board of Directors. "The Board of Directors will be working closely with Mr. Schneid while the Company continues to focus on increasing shareholder value through improved operational, financial and other strategic opportunities."

In connection with the annual and special meeting of shareholders of the Company scheduled to be held on June 30, 2021, Mr. Merritts will no longer stand for election and the Board of Directors has therefore set its size at six for the purposes of such election. It is expected that only the remaining six nominees set forth in the Company's management information circular, dated May 31, 2021, will stand for election at the meeting and that Mr. Schneid will be re-appointed as a director of the Company immediately following the meeting.

Information about Corsa

Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Our core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets.

Forward-Looking Statements

Certain statements and other information included in this press release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). All statements in this press release, other than those relating to historical information or current conditions, are forward-looking statements, including, but not limited to Mr. Merritts' transition and the appointment of Robert J. Schneid as President and Chief Executive Officer and member of the Board of Directors, Corsa's strategic plans and the creation of value for shareholders.

Forward–looking statements in this press release are based on certain key expectations and assumptions made by Corsa. Although Corsa believes that the expectations and assumptions on which such forward–looking statements are based are reasonable, undue reliance should not be placed on the forward–looking statements because Corsa can give no assurance that they will prove to be correct.

Corsa disclaims any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information or future events, except as may be required under applicable securities laws.

The TSX Venture Exchange has in no way passed on the merits of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Corsa Coal Corp.

View original content: http://www.newswire.ca/en/releases/archive/June2021/09/c7826.html

ROUYN-NORANDA, Québec, June 09, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has sold the McNeely Lithium project consisting of 66 mining claims in La Corne, Landrienne and Figuery townships, Quebec to First Energy Metals Limited (FE-CSE). The claims have been sold for a single cash payment of $250,000 and 2,000,000 First Energy Metals shares (currently $0.30 a share). Globex will retain a 3% Gross Metal Royalty on all production from the claims.

Globex’s McNeely claims extend westward from the Quebec Lithium Mine property intermittently in several claim blocks over a strike length of approximately 18 kilometres, and includes several spodumene showings and historical mineralized drill holes. A large number of Globex’s claims surround and are in close proximity to the Augustus Lithium occurrence where First Energy Metals recently reported a drill hole grading 1.17% Li₂O over a core length of 19 metres (see First Energy Metals press release dated June 1, 2021).

Globex is pleased to vend the McNeely property to First Energy Metals Limited an active exploration neighbor and looks forward to future drill results from their ongoing exploration program.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

EUROPE MARKETS European stocks and U.S. equity futures traded flat on Wednesday, a day ahead of key consumer prices Stateside, while a sharp rise in Chinese factory prices sent shares of miners lower.

TORONTO, June 09, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront” or “the Company”) (TSX Venture: NOT) is pleased to report the voting results of the Annual and Special Meeting of Shareholders (the "Meeting") held today, June 9, 2021.

Shareholders voted in favour of all matters brought before the Meeting, including the election of all of the director nominees, comprising: Alan Coutts; Luca Giacovazzi; Jean Paul Gladu; Bo Liu; Paul Parisotto; and John Pollesel.

The results of the matters considered at the Meeting, including the appointment of auditors and re-approval of the Company's Stock Option Plan, are reported in the Report of Voting Results as filed on SEDAR on June 9, 2021.

A video presentation update from Mr. Alan Coutts, President and CEO of the Company, is available on the Company's YouTube page.

About Noront Resources
Noront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

For more information please contact:

Shareholders:

Greg Rieveley
greg.rieveley@norontresources.com
416-367-1444 ext. 117

Media:

Ian Hamilton
ihamilton@longviewcomms.ca
(905) 399-6591

Janice Mandel
janice.mandel@stringcom.com
(647) 300-3853

CAUTIONARY LANGUAGE AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed "forward-looking statements". Except for statements of historical fact relating to Noront, information contained herein constitutes forward-looking information, including any information related to Noront's strategy, plans or future financial or operating performance. Forward-looking information is characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will", "could" or "should" occur. In order to give such forward-looking information, the Company has made certain assumptions about its business, operations, the economy and the mineral exploration industry in general on each of the foregoing. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Noront's expected performance and Noront's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Company as at the date hereof. The Company undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.

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

Vancouver, British Columbia–(Newsfile Corp. – June 9, 2021) – Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that a total of 4,035,855 shares have been issued from the exercise of warrants and Agent Options resulting in the receipt of $390,694.30. The funds will support the Company's plans to restart the drill program in the Southern Gold Zone of the Miner Mountain Porphyry Copper-Gold project near Princeton, BC on June 15, 2021 (see NR June 2, 2021).

This program will be a continuation of the two drill-hole program initiated April 14, 2021 that returned 1.03 gpt Au over 59 meters and 1.08 gpt Au over 88 meters (See NR May 27, 2021).

About the Project

Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056 hectares in size and is located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory the Miner Mountain project is situated. Sego has received an Award of Excellence for its reclamation work at Miner Mountain.

For further information please contact:

J. Paul Stevenson, CEO (604) 682-2933
ceo@segoresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87021

SANTIAGO, June 9 (Reuters) – Workers at BHP Group's Spence copper mine in Chile said on Wednesday they will extend negotiations with the company for a few more days to try and reach agreement on a new contract and avoid a strike at the operation, the union told Reuters.

The union representing 1,100 workers at the mine in Chile's northern Atacama Desert said it hoped to reach agreement by the end of Thursday. (Reporting by Fabian Cambero; Editing by Jacqueline Wong)

If you want to know who really controls Capstone Mining Corp. (TSE:CS), then you'll have to look at the makeup of its share registry. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. We also tend to see lower insider ownership in companies that were previously publicly owned.

With a market capitalization of CA$2.1b, Capstone Mining is a decent size, so it is probably on the radar of institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholders can tell us about Capstone Mining.

Check out our latest analysis for Capstone Mining

What Does The Institutional Ownership Tell Us About Capstone Mining?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

We can see that Capstone Mining does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Capstone Mining, (below). Of course, keep in mind that there are other factors to consider, too.

Capstone Mining is not owned by hedge funds. Our data shows that Grm Investments Ltd. is the largest shareholder with 25% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 9.8% and 4.4%, of the shares outstanding, respectively. Additionally, the company's CEO Darren Pylot directly holds 0.5% of the total shares outstanding.

After doing some more digging, we found that the top 15 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Capstone Mining

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Shareholders would probably be interested to learn that insiders own shares in Capstone Mining Corp.. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around CA$47m worth of shares (at current prices). If you would like to explore the question of insider alignment, you can click here to see if insiders have been buying or selling.

General Public Ownership

With a 46% ownership, the general public have some degree of sway over Capstone Mining. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Company Ownership

Our data indicates that Private Companies hold 34%, of the company's shares. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Capstone Mining better, we need to consider many other factors. Be aware that Capstone Mining is showing 3 warning signs in our investment analysis , you should know about…

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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. 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, BC, June 9, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX" or the "Company") is pleased to report the results of expanded field tests which demonstrate the potential for significant direct air carbon capture in tailings at its Baptiste Project in the Decar Nickel District in central British Columbia. These field tests, from Phase 2 of a two-part program conducted by researchers from the University of British Columbia ("UBC") funded by FPX and the Government of Canada, continue to demonstrate that the Baptiste Project's tailings can sequester significant quantities of carbon dioxide ("CO₂") when exposed to air through a natural process of mineral carbonation.

Highlights

• The positive results of the 59-day Phase 2 field test (September to November 2020) described herein expand upon the 24-day Phase 1 results (August 2020) described in the Company's February 16, 2021 news release

• Significant rates of carbon sequestration were noted on a continuous basis throughout Phases 1 and 2 under all test conditions, with the highest rates of sequestration occurring in tailings subjected to churning at regular intervals to encourage greater exposure of the crushed material to air

• Measurements during the combined 83-day Phase 1 and 2 field programs indicate capture of a total of 5.8 grams of CO₂ for each kilogram of crushed Baptiste tailings exposed to air by churning on a regular basis to a depth of 12 cm

• Carbon sequestration rates observed during these Phases 1 and 2 (3.7 kg CO₂/m² year) are approximately 50% greater than the estimated average rates of capture under the dry conditions at BHP's Mount Keith nickel mine in Western Australia (2.5 kg CO₂/m² year; see Note 1)

Cautionary Statement: The test results described herein are preliminary in nature and may not be representative of conditions or results in an operating environment, particularly as it pertains to the representativeness of mineralization, moisture content, changes in weather conditions, process water chemistry and tailings emplacement configuration, including the rate at which tailings are covered with fresh material, among other para meters. There is no certainty that the results reported herein will be realized in an operating environment. Further studies are recommended to expand the scale of testing to better understand the potential for carbon sequestration to be realized in an operating environment.

"These positive results continue to demonstrate that Baptiste has unique potential to become the world's first large-scale, carbon-neutral nickel operation," commented Martin Turenne, FPX Nickel's President and CEO. "The competitive advantage for FPX is the elevated content in our Baptiste deposit of the key, highly carbon-reactive mineral brucite, which is present in higher concentrations at Baptiste than at typical intrusive-hosted ultramafic nickel sulphide deposits. The elevated brucite content of the Baptiste deposit therefore presents us with a unique opportunity to drive toward carbon neutrality at Baptiste, and we look forward to expanded testing in 2021 to deliver further evidence to investors and potential strategic partners alike."

The two-phase test program builds on more than a decade of research on technologies that maximize the reaction between CO₂ and brucite (mineral form of magnesium hydroxide) present in the Baptiste mine tailings. In a natural process called carbon mineralization, CO₂ reacts with brucite in the tailings, binding the CO₂ in a benign, solid magnesium carbonate which is stable on a geological time scale.

The test work summarized herein was completed on a representative Baptiste mineralized composite of approximately 300 kilograms comprised of core sample reject material crushed to 50-360 µm, consistent with the tailings size anticipated during mine operation. Analysis of the core material indicated 1-2 wt% content of brucite, a range consistent with the average brucite content of the Baptiste deposit. The Phase 1 field program was conducted at an outdoor site in Prince George from August 5-29, 2020. On completion of Phase 1 testing in August, the tailings were moved to Vancouver and a second stage was conducted outdoors from September 14 to November 12, 2020.

The tailings sample was divided into splits of 37 kilograms loaded to a depth of 12 centimeters into eight cells in two large containers, with local water added to achieve a moisture content of approximately 15 wt%. One container was exposed to local weather conditions (including precipitation and solar radiation), while the second was placed under a shade tent to control the water content of the tailings, which was maintained approximately constant by the manual addition of water from time to time. Large rainfall events had no noticeable impact on the rate of CO₂ capture, which is considered a positive finding given the precipitation rates in central British Columbia.

Two physical manipulations, churning and aeration, were each applied to four of the eight cells, with the four remaining cells left undisturbed as controls. In the churned cells, the tailings were manually overturned to a depth of 12 cm; churning occurred once per day during the Phase 1 test, and on an approximately weekly basis during Phase 2. In the aerated cells, narrow holes with a diameter of 1 cm were bored on a 5 cm grid from the surface to the bottom of the cell to encourage a greater exposure of air to the crushed material. Two methodologies were employed to confirm the amount of carbon sequestered during the test program, as described in the Company's February 16, 2021 news release.

In the cells churned to a depth of 12 cm at regular intervals, carbon absorption measurements demonstrate capture of 5.8 grams of CO₂ for each kilogram of crushed Baptiste tailings in the cell over the course of the combined 83-day Phase 1 and 2 programs, with no addition of new tailings. Based on this amount of carbon sequestration, it is estimated that only approximately 45% of the brucite reacted with carbon dioxide, leaving 55% of the brucite available for reaction and suggesting future opportunities to optimize the reaction between tailings and CO₂ in air to achieve even higher rates of carbon capture.

In the control and aerated cells, an average of 2.5 grams of CO₂ was captured for each kilogram of crushed Baptiste tailings in the cells over the course of combined Phase 1 and 2 trials, representing approximately 43% of the sequestration rate observed in the churned cells.

Carbon sequestration rates observed in the churned cells during Phases 1 and 2 (3.7 kg CO₂/m² year) are approximately 50% greater than the estimated average rates of capture at BHP's Mount Keith nickel mine in Western Australia (2.5 kg CO₂/m² year), where it is estimated that approximately 39,800 tonnes/year of atmospheric CO₂ are being trapped and stored in tailings (see Note 1).

Note 1: International Journal of Greenhouse Gas Control, "Offsetting of CO₂ Emissions by Air Capture in Mine Tailings at the Mount Keith Nickel Mine, Western Australia: Rates, Controls and Prospects for Carbon Neutral Mining", Wilson et al., 2014

Next Steps

In addition to the 2020 direct air capture test results described herein, UBC researchers have conducted additional testing to assess the rate and quantity of carbon capture from the injection of concentrated CO₂ gas into Baptiste tailings. The Company expects to report the findings of the concentrated injection test program in the coming weeks.

The Company is further expanding the size and scope of carbon sequestration testing, with two direct air capture experiments to commence in the third quarter of 2021:

1. Six-month experiment at a location in Vancouver on approximately 2.4 tonnes of tailings material, or approximately eight times the scale of the 2020 experiment

2. 1-year experiment at a location in central British Columbia on approximately 300 kg of tailings material, designed to better understanding the longer-term carbon sequestration potential of undisturbed tailings.

These two experiments will build off the 2020 experiment and address several conceptual operating parameters, including:

• Expanding the tonnage footprint to understand sequestration performance at varying depths of tailings deposition;

• Building an enhanced understanding of the impact of tailings water content and air temperature (including freezing temperature) on the rate of carbon sequestration;

• Improving the understanding of the effect of churning frequency on the rate of carbon capture.

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

About the Decar Nickel District

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

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

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

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

About FPX Nickel Corp.

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

On behalf of FPX Nickel Corp.

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

Forward-Looking Statements

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

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

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/09/c6268.html

Just because a business does not make any money, does not mean that the stock will go down. 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. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

Given this risk, we thought we'd take a look at whether Salazar Resources (CVE:SRL) shareholders should be worried about its 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.

Check out our latest analysis for Salazar Resources

When Might Salazar Resources Run Out Of Money?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Salazar Resources last reported its balance sheet in March 2021, it had zero debt and cash worth CA$6.1m. In the last year, its cash burn was CA$3.0m. Therefore, from March 2021 it had 2.0 years of cash runway. Arguably, that's a prudent and sensible length of runway to have. Depicted below, you can see how its cash holdings have changed over time.

How Is Salazar Resources' Cash Burn Changing Over Time?

Salazar Resources didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Over the last year its cash burn actually increased by 31%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Admittedly, we're a bit cautious of Salazar Resources due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For Salazar Resources To Raise More Cash For Growth?

Given its cash burn trajectory, Salazar Resources shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future 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).

Since it has a market capitalisation of CA$55m, Salazar Resources' CA$3.0m in cash burn equates to about 5.5% of its market value. 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 Salazar Resources' Cash Burn?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Salazar Resources' cash burn relative to its market cap was relatively promising. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted 3 warning signs for Salazar Resources that potential shareholders should take into account before putting money into a stock.

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. 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.

* Project has now received approval to export copper concentrate

* First-phase production to be around 200,000 T of copper per year (Adds detail on concentrate export approval)

By Tom Daly

June 9 (Reuters) – China's Zijin Mining said one of its subsidiaries and Citic Metal will each buy 50% of the copper output from the first phase of its Kamoa-Kakula mine in Democratic Republic of Congo (DRC), which has now won approval to export concentrate.

The deals will see wholly-owned Zijin unit Gold Mountains (H.K.) International Mining Co Ltd and trader Citic Metal, part of state-owned conglomerate Citic Group, split the initial offtake from what is expected to be the world's highest-grade major copper mine.

The agreements were done "on competitive arms-length commercial terms" and include treatment and refining charges based on the annual industry benchmark, Zijin said in a filing on Wednesday.

They are for both copper concentrate directly from Kamoa-Kakula, which started production on May 25, and blister copper processed at a nearby smelter, it added.

Canada-based Ivanhoe Mines, Zijin's main partner in the Kamoa Copper joint venture that operates the mine, also announced the deals, saying first-phase output is projected to be approximately 200,000 tonnes of copper per year.

"We have all necessary authorizations in place and will commence exports of (copper products) to meet the burgeoning international demand for electrification of the global economy," Ivanhoe President Marna Cloete said in a statement.

The company said in late May it had applied for a waiver that would allow it to ship concentrate to overseas markets despite a DRC ban on exports since 2013 to encourage domestic processing. The DRC has issued regular waivers to the ban.

The buyers will be responsible for arranging freight and shipment of the copper to its final destination, initially via the port of Durban, South Africa, Ivanhoe said.

Citic Metal and the Zijin unit will each provide an advance payment of up to $150 million, which can be drawn on by Kamoa Copper from June 10 this year until May 31, 2023.

"The facility will bear an annual interest rate of 8% and will be offset against provisional payments due to Kamoa Copper from product deliveries," Ivanhoe added. (Reporting by Tom Daly; Editing by Emelia Sithole-Matarise, Kirsten Donovan)

June 9 (Reuters) – China's Zijin Mining Group said on Wednesday one of its subsidiaries and trader Citic Metal would each buy 50% of the copper production from the recently-launched first phase of its Kamoa-Kakula mine in the Democratic Republic of Congo (DRC).

The deals will see wholly-owned Zijin unit Gold Mountains (H.K.) International Mining Co Ltd and Citic Metal, part of state-owned conglomerate Citic Group, split the initial offtake from what is expected to be the world's highest-grade major copper mine.

The agreements were done "on competitive arms-length commercial terms" and include treatment and refining charges based on the annual industry benchmark, Zijin said in a filing.

They are for both copper concentrate directly from Kamoa-Kakula, which started production on May 25, and blister copper processed at a nearby smelter, it added.

Canada-based Ivanhoe Mines, Zijin's main partner in the Kamoa Copper joint venture that operates the mine, also announced the deals on Wednesday, saying that first-phase output is projected to be approximately 200,000 tonnes of copper per year.

The buyers will be responsible for arranging freight and shipment of the copper to its final destination, initially via the port of Durban, South Africa, Ivanhoe said.

Citic Metal and the Zijin unit will each provide an advance payment of up to $150 million, which can be drawn on by Kamoa Copper from June 10 this year until May 31, 2023.

"The facility will bear an annual interest rate of 8% and will be offset against provisional payments due to Kamoa Copper from product deliveries," Ivanhoe added. (Reporting by Tom Daly; Editing by Emelia Sithole-Matarise)

Kamoa-Kakula fully authorized to commence exports of blister copper and copper concentrate to international markets

Kolwezi, Democratic Republic of Congo–(Newsfile Corp. – June 9, 2021) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng "Miles" Sun are pleased to announce that Kamoa Copper SA – the operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the Government of the Democratic Republic of Congo (DRC) – has signed copper concentrate and blister copper off-take agreements on competitive arm's-length commercial terms, for 100% of Kamoa-Kakula's Phase 1 copper output, which is projected to be approximately 200,000 tonnes of copper per year.

Kamoa Copper began producing copper concentrate on May 25, 2021, and made its first delivery of concentrates to the nearby Lualaba Copper Smelter, outside of Kolwezi, on June 1, 2021.

Watch a new video showcasing Kamoa-Kakula's milling, flotation and recovery processes involved in producing the ultra-high grade, clean copper concentrate: https://vimeo.com/560814916/6db2333083

Kamoa Copper has signed off-take agreements with CITIC Metal (HK) Limited (CITIC Metal) and Gold Mountains (H.K.) International Mining Company Limited, a subsidiary of Zijin, for 50% each of the copper products from Kamoa-Kakula's Phase 1 production. The off-take agreements are evergreen for the production volumes from Phase 1, including copper concentrate and blister copper resulting from processing of copper concentrates at the Lualaba Copper Smelter.

The off-take agreements contain standard, international commercial terms, including copper payables and treatment and refining charges based on the annual benchmark across the copper industry. The ultra-high-grade, clean concentrate produced by Kamoa-Kakula is expected to contain approximately 57% copper and very low levels of impurities.

CITIC Metal and Zijin will purchase the copper concentrate at the Kakula Mine and the blister copper at the Lualaba Copper Smelter on a free-carrier basis, meaning the buyers will be responsible for arranging freight and shipment to the final destination, initially via the port of Durban, South Africa.

CITIC Metal and Zijin each will provide an advance payment facility of up to US$150 million (US$300 million in total) to be drawn at the election of Kamoa Copper from June 10, 2021, until May 31, 2023. The facility will bear an annual interest rate of 8% and will be offset against provisional payments due to Kamoa Copper from product deliveries. Payment terms include an option to receive a provisional payment on a 100%-basis within three business days of invoicing, at the end of each delivery month.

Agreement signed with nearby Lualaba Copper Smelter to produce 99% blister copper in the Democratic Republic of Congo

On May 31, 2021, Kamoa Copper signed a 10-year agreement with the Lualaba Copper Smelter, located outside the town of Kolwezi, for the processing of a portion of Kamoa's copper concentrate production. Kamoa Copper delivered its first copper concentrates to the Lualaba smelter on June 1, and will receive first blister copper ingots within 30 days of delivery.

The Lualaba Copper Smelter is 60%-owned by China Nonferrous Metal Mining Group (CNMC) of Beijing, China. Yunnan Copper of Kunming, China, owns the remaining 40%.

The smelter, which began operations in early 2020, will treat up to 150,000 wet metric tonnes of copper concentrates from Kamoa-Kakula, in return for a treatment charge and market-based realization fee, and produce blister copper containing approximately 99% copper that will be returned to Kamoa Copper, and collected by CITIC Metal and Zijin from a dedicated storage area at the Lualaba Copper Smelter.

The Lualaba Copper Smelter is the first modern, large, pyro-metallurgical copper smelter built in the Democratic Republic of Congo, and is approximately 40 kilometres from Kamoa-Kakula via the recently-constructed, dedicated by-pass road.

Marna Cloete, Ivanhoe Mines President and CFO, commented: "We are very pleased to have reached agreements with our partners CITIC Metal and Zijin at internationally-competitive terms. The agreements reflect the great partnership we have with CITIC Metal and Zijin, and the advance payment facilities significantly reduce the mine's working capital requirements as Phase 1 production ramps up.

"We also are pleased to secure a long-term tolling agreement with the local Lualaba Copper Smelter, in keeping with our commitment to in-country beneficiation that includes Kamoa Copper's longer-term plan to construct its own direct-to-blister smelter.

"We have all necessary authorizations in place and will commence exports of clean, hydro-electricity-produced copper products from the Kamoa-Kakula mine to meet the burgeoning international demand for electrification of the global economy."

Copper production guidance for 2021

Ivanhoe's guidance for contained copper in concentrate expected to be produced by the Kamoa-Kakula Project for the balance of 2021 assumes a ramp-up from first production in line with published technical disclosures, and is as follows:

All figures are on a 100%-project basis. Metal reported in concentrate is prior to refining losses or deductions associated with smelter terms. Cost guidance is expected to be provided once the Kamoa-Kakula Project's Phase 1 plant has reached steady-state production.

Kakula is projected to be the world's highest-grade major copper mine, with an initial mining rate of 3.8 million tonnes per annum (Mtpa), ramping up to 7.6 Mtpa in Q3 2022. Phase 1 is expected to produce approximately 200,000 tonnes of copper per year, and Phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year. Based on independent benchmarking, the project's phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world's second-largest copper mining complex, with peak annual copper production of more than 800,000 tonnes.

Given the current copper price environment, Ivanhoe and its partner Zijin are exploring the acceleration of the Kamoa-Kakula Phase 3 concentrator expansion from 7.6 Mtpa to 11.4 Mtpa, which may be fed from expanded mining operations at Kansoko, or new mining areas at Kamoa North (including the Bonanza Zone) and Kakula West.

A 2020 independent audit of Kamoa-Kakula's greenhouse gas intensity metrics performed by Hatch Ltd. of Mississauga, Canada, confirmed that the project will be among the world's lowest greenhouse gas emitters per unit of copper produced.

The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%).

Loading copper concentrate for bulk transportation to the nearby Lualaba Copper Smelter, outside of Kolwezi.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3396/87076_f0f47cd5e4e68ab1_002full.jpg

Samples of Kamoa Copper's copper concentrate being collected before it is shipped to the Lualaba Copper Smelter.

To view an enhanced version of this graphic, please visit:
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Trucks transporting bulk copper concentrate from the Kamoa-Kakula Project to the Lualaba Copper Smelter via the recently-completed by-pass road connecting Kamoa-Kakula to Kolwezi. The new 220-kilovolt powerline carrying clean hydro-generated electrity to Kamoa-Kakula is on the right.

To view an enhanced version of this graphic, please visit:
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A blister copper ingot produced at the Lualaba Copper Smelter, containing approximately 99% copper, ready for export to international markets.

To view an enhanced version of this graphic, please visit:
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Qualified Persons

Disclosures of a scientific or technical nature regarding development scenarios at the Kamoa-Kakula Project in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Amos is not considered independent under NI 43-101 as he is the Head of the Kamoa Project. Mr. Amos has verified the technical data disclosed in this news release.

Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project, which is available on the company's website and under the company's SEDAR profile at www.sedar.com:

• Kamoa-Kakula Integrated Development Plan 2020 dated October 13, 2020, prepared by OreWin Pty Ltd., China Nerin Engineering Co., Ltd., DRA Global, Epoch Resources, Golder Associates Africa, KGHM Cuprum R&D Centre Ltd., Outotec Oyj, Paterson and Cooke, Stantec Consulting International LLC, SRK Consulting Inc., and Wood plc.

The technical report includes relevant information regarding the assumptions, parameters and methods of the mineral resource estimates on the Kamoa-Kakula Project cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC.

Kamoa-Kakula began producing copper in May2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine when large-scale electric, hydrogen and hybrid underground mining equipment become commercially available. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.

Information contacts

Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034

Forward-looking statements

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Such statements include without limitation, the timing and results of: (i) statements regarding the ultra-high-grade, clean concentrate produced by Kamoa-Kakula is expected to contain approximately 57% copper and very low levels of impurities; (ii) statements regarding Ivanhoe's guidance for contained copper in concentrate expected to be produced by the Kamoa-Kakula Project for the balance of 2021 of 80,000 to 95,000 tonnes; (iii) statements regarding Kakula is projected to be the world's highest-grade major copper mine, with an initial mining rate of 3.8 Mtpa, ramping up to 7.6 Mtpa in Q3 2022; (iv) statements regarding Kamoa-Kakula's Phase 1 is expected to produce approximately 200,000 tonnes of copper per year, and Phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year; (v) statements regarding that, based on independent benchmarking, the project's phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world's second-largest copper mining complex, with peak annual copper production of more than 800,000 tonnes; (vi) statements regarding that based on a 2020 independent audit of Kamoa-Kakula's greenhouse gas intensity metrics performed by Hatch Ltd., the Kamoa-Kakula Project will be among the world's lowest greenhouse gas emitters per unit of copper produced; and (vii) statements regarding Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world's lowest greenhouse gas emitters per unit of metal produced.

As well, all of the results of the Kakula definitive feasibility study, the Kakula-Kansoko pre-feasibility study and the Kamoa-Kakula preliminary economic assessment, constitute forward-looking statements or information, and include future estimates of internal rates of return, net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs and the size and timing of phased development of the projects. Furthermore, with respect to this specific forward-looking information concerning the development of the Kamoa-Kakula Project, the company has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include: (i) the adequacy of infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development; (vii) the cost of consumables and mining and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the compliance by joint venture partners with terms of agreements; (xiii) the availability and productivity of skilled labour; (xiv) the regulation of the mining industry by various governmental agencies; (xv) the ability to raise sufficient capital to develop such projects; (xvi) changes in project scope or design; and (xvii) political factors.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under "Risk Factors", and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the "Risk Factors" section in the company's 2021 Q1 MD&A and its current annual information form.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87076

Piedmont Lithium Inc., ("Piedmont" or the "Company") (NASDAQ: PLL; ASX: PLL) is pleased to report the results of the updated scoping study ("Scoping Study" or "Study") for its proposed integrated lithium hydroxide business ("Carolina Lithium" or the "Project") in Gaston County, North Carolina. The Study confirms that Carolina Lithium will be one of the world’s largest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to incumbent producers, all in an ideal location to supply the rapidly growing electric vehicle supply chain in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210609005267/en/

Figure 1 – Life cycle analysis of key carbon intensity, water usage, and land footprint of Piedmont Carolina Lithium (Graphic: Business Wire)

PROJECT HIGHLIGHTS

Sustainable Lithium Hydroxide Manufacturing

Piedmont Carolina Lithium is expected to have a superior sustainability profile relative to the current producers based in China and South America. Chinese lithium producers are highly reliant on coal-fired power and generally utilize a carbon-intensive sulfuric acid roasting process to convert raw materials shipped in from Australia, while South American producers tend to utilize vast tracts of land and large quantities of water, all in the driest desert in the world, the Atacama.

Metso Outotec process reduces emissions, eliminates sulfuric acid roasting, and reduces solid waste

Solar power generation, in-pit crushing, and electric conveying reduce reliance on carbon-based energy sources

Vastly diminished transportation distances for raw materials and finished product

Highly efficient land and water use compared with South American brine production

Far lower CO₂ intensity than incumbent China hydroxide production including Scope 1, 2, and 3 emissions

Independent preliminary Life-Cycle Analysis ("LCA") completed with Minviro

Exceptional Economics and Scale

The Study confirms that Piedmont will be a large and low-cost producer of lithium hydroxide, benefitting from its ideal location in Gaston County, North Carolina, with exceptional infrastructure, a deep local talent pool, low-cost energy, and proximity to local markets for the monetization of by-product industrial minerals. The Study results represent a substantial improvement over prior studies despite the use of more conservative assumptions related to mining dilution and metallurgical recoveries.

The competitive advantage of Piedmont’s unique location is depicted in the following lithium hydroxide cost curve, which was prepared by Roskill, a leading lithium industry consultancy.

Fully Integrated Manufacturing Campus

Piedmont Carolina Lithium contemplates a single, integrated site, comprising quarrying, spodumene concentration, by-products processing, and spodumene conversion to lithium hydroxide. There are currently no such integrated sites operating anywhere in the world, and the economic and environmental advantages of this strategy are compelling:

Premier location in Gaston County, North Carolina – "the cradle of the lithium business"

Elimination of SC6 transportation costs and related noise and emissions

On-site solar complex to power concentrate operations and reduce reliance on diesel fueled equipment

Potential to co-locate other downstream battery materials / Li-ion battery manufacturing

Creation of up to 500 manufacturing, engineering, and management jobs

Site offers potential to expand hydroxide capacity by adding additional manufacturing trains in the future

"We are exceedingly pleased with the results of our updated Scoping Study. The economics of our Project continue to impress, but I am particularly proud of the Project’s sustainability profile. Customers, investors, and neighbors are increasingly focused on businesses that are "doing things the right way." It is critical that raw material supply chains do not detract from the overall sustainability of the transition to electric vehicles. Our project will have a far lower environmental footprint than alternative suppliers, and we expect that to position Piedmont well with all stakeholders.

As we move forward to complete a Definitive Feasibility Study for Carolina Lithium later in 2021, Piedmont has engaged Evercore and JPMorgan as financial advisors to evaluate potential strategic partnering and financing options for its North Carolina Project. Given the Project’s unique position as the only American spodumene project, with world-class scale, economics, and sustainability, we expect strategic interest to be robust.

Keith D. Phillips, President and Chief Executive Officer

Click here to view the complete release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210609005267/en/

Contacts

Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com

Brian Risinger
VP – Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com

VANCOUVER, BC, June 9, 2021 /CNW/ – Trading resumes in:

Company: Neo Lithium Corp.

TSX-Venture Symbol: NLC

All Issues: Yes

Resumption (ET): 10:00 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/June2021/09/c9864.html

• Significant increase in northern high-grade mineral resource estimate at 800 mg/l lithium cut-off:

• Significant increase of central and southern medium-grade resource estimate at 400 mg/l Lithium cut-off:

• Average combined impurities for Magnesium/Lithium and Sulphate/Lithium continue to be lowest in industry

• Potential for resource expansion continues to exist at depth, and off strike on the eastern border of the 3Q Project under the alluvial cones.

TORONTO, June 9, 2021 /CNW/ – Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSXV: NLC) (OTCQX: NTTHF) (FSE: NE2) is pleased to announce an updated resource estimate for the Tres Quebradas lithium brine project in Catamarca Province, Argentina ("3Q Project"). This updated mineral resource estimate has been completed under the supervision of Canadian-based Groundwater Insight, Inc., which is independent of the Company.

Based on this updated mineral resource estimate, the 3Q Project deposit continues to improve, confirming that it is one of the largest and highest-grade lithium brine deposits in the world.

Since the completion of the previous mineral resource estimate in July 2018, the Company has continued drilling and has revised the statistical criteria to define measured, indicated, and inferred resources. Using the new drill holes (see news release dated May 27, 2021 for further information) and the revised statistical criteria, the measured and indicated mineral resource categories have increased by 125% at the 800 mg/l lithium cut-off, and by 33% at 400 mg/l lithium cut-off, when compared to the July 2018 estimate. Similar average grades and impurities were observed.

The updated lithium resource estimate is summarized in Tables 1 and 2, for the 800 and 400 mg/l cut-offs, respectively, with comparison to the July 2018 results.

Table 1 – in situ Lithium Resource at 800 mg/L Lithium cut-off

Table 2 – in situ Lithium Resource at 400 mg/l Lithium cut-off

Average density for the brine is 1.217. The low magnesium and sulfate content of the mineral resource is consistent with the previous mineral resource estimate. Table 3 summarizes the main impurities ratios for magnesium and sulfate.

Table 3 – 3Q Project Impurity Ratios at 800 mg/l Lithium Cut-off

"These updated results confirm that 3Q Project is one of the most significant lithium brine discoveries in recent history" said Dr. Perez, President and CEO of Neo Lithium. "We continue to add high quality resources to the 3Q Project and there is still incremental value and growth at this world-class high-grade resource."

Neo Lithium's wholly-owned 3Q Project is within an elongated salar, 28 km in length that contains a high-grade resource in the northern third of the salar, roughly defined by the 800 mg/l cut off, and a medium-grade resource in the southern two thirds of the salar, within the 400 mg/l cut off. The high-grade resource is strategically important because it requires smaller evaporation ponds to put the project into production. Since the pond size is geometrically related to grade, increases in grade have a significant impact in decreasing capital costs of pond construction. Ponds can represent up to 50% of the capital cost of an evaporative lithium brine project. Therefore, an important design goal of the project is to minimize pond size.

"We are very pleased with these updated results, which highlight further upside at the 3Q Project. However, this development does not take away focus from our ongoing work toward the completion of the Feasibility Study in Q3," said Gabriel Pindar, COO of Neo Lithium. "These results emphasize the potential for further expansion, even beyond what we originally thought."

Feasibility Study Update

The Company is working with Worley on the Feasibility Study for the 3Q Project. The current larger mineral resource estimate is not expected to negatively impact the new reserve estimation and mine plan that will be delivered as part of the Feasibility Study. The Company does not expect mineral extraction methods to change as a result of the increased mineral resource estimates, as the grade and location of the mineral resource remains substantially the same. Accordingly, the "Preliminary Feasibility Study ("PFS") – 3Q Project, NI 43-101 Technical Report Catamarca, Argentina" with an effective date of May 7, 2019 and amended as of May 8, 2019, and subsequently amended April 1, 2021 is still relevant and valid as a preliminary indication of the economic potential of the 3Q Project.

A new reserve estimate will be issued along with the Feasibility Study, to be completed by Worley at the end of Q3 – beginning of Q4 2021. We have completed all base engineering work and issued proposals to receive vendor budgetary quotes to start compiling the Feasibility Study Capex estimate. At this stage we remain within the parameters of the PFS Capex and we do not expect major changes or deviations from it beyond the accuracy of the PFS estimate.

Our expanded pilot ponds have been commissioned and are fully operational. We will be reconfiguring the pilot plant to reflect continuous operation as part of our operational testing procedure. Both systems have provided valuable information in support of the Feasibility Study and are serving as training grounds for our team in Argentina. We are proud to announce that we have now reached 20% of our future permanent staff, in full compliance with our Environmental, Social and Governance (ESG) goals, providing training and work opportunities to local people, and thus strengthening the relationship with our local community.

Resource Estimate Methodology

The mineral resource estimate was prepared in accordance with best practice methods specific to brine resources. The approach includes a reliance on drilling and sampling methods that yield depth-specific chemistry and drainable porosity measurements of the brine host rock.

The mineral resource calculation is based on four drilling and sampling campaigns, which included the following:

• Completion of 10,523.65m of drilling (6,145.75m of diamond drill and 4,377.90m of rotary holes) divided in 56 drill holes.

• The deepest hole was 647m.

• The rotary wells were completed with 8 or 10 inch PVC or iron piping. They were pumped for over 48 hours to ensure the brine flowed from the aquifer and that all remaining traces of drill mud was removed. Outflow was typically sampled at six-hour intervals. All samples were averaged (typically 6 to 10 samples were collected in each well) and the sample concentration was attributed to the gravel pack interval of the well.

• The diamond drill holes were cored with HQ triple tube.

• Of the 56 holes used for the mineral resource estimate, nine reached the basement at depths ranging from 50m (in the western boundary of the salar) to 647m in the eastern border of the salar. All others were terminated after reaching target depth or due to drill limitations.

• The total thickness of the basin exceeds 650m on the eastern side, and brine saturated sediments are present throughout the majority of the sequence; the exception is relatively fresher-water zones where surface inflows occur.

• A total of 230 brine samples plus 74 QA/QC samples were collected from the drill holes during drilling and from completed wells; and 45 surface samples were collected from the 3Q and Verde lagunas. Repeat samples were averaged resulting in 184 unique sample locations, that were used to calculate the resource estimate.

• Brine samples were collected from the diamond drill holes during drilling, using a standard packer technique (both single and double packer) to obtain samples from discrete levels of the formation. Fluorescein dye was used to ensure that the samples were representative of the collection interval. Sampling intervals range from 2m to 50m, depending on the hole.

• Brine was sampled (and bathymetry conducted) in Laguna 3Q and Laguna Verde, located at the north and south ends of the salar, respectively. Extensive sampling indicates that the brine composition in these lagunas is essentially continuous with the brine under the salar crust.

• Brine samples interpreted to reflect the influence of freshwater inflows (Rio Salado, Rio Nacimiento, and Rio 3Q) were removed from the data set prior to interpolation. Similarly, volumes of the subsurface associated with fresher water were also removed from the salar volume for resource estimation.

The previous (2018) mineral resource estimate used a search radius criteria technique to classify measured, indicated and inferred resources. In the current estimate the approach was revised to a borehole density method. Both methods are widely used in both brine and hard rock resource estimation. The borehole density method was considered more appropriate based on an increasing body of site data, which continue to support spatially predictable geology and brine trends.

Geology and Brine Model

Geology and brine models were assembled in the numerical modeling software FEFLOW. Geology was interpreted from surface mapping, diamond drilling core and rotary borehole logging. Eight primary geological units were identified:

• Brine lakes: standing bodies of surface brine at the north and south ends of the salar complex (Laguna 3Q and Laguna Verde, respectively);

• Hyper-Porous Halite: karstic, near surface halite (typically less than 50m depth);

• Upper Sediments: formed by sand, silt and conglomerates located at surface or near surface;

• Porous Halite: formed by halite with moderate porosity that is readily identified by visual methods;

• Massive Halite: this unit generally occurs as labelled, but often contains interbedded layers of clay, volcaniclastics, and halite with greater visible porosity. Consistent with this observation, a range of tests have indicated potentially important porosity in this unit.

• Lower Sediments: well rounded sand, silt and minor conglomerates hosted below the Massive Halite (typically 300m to 500 m deep);

• Fanglomerates: sedimentary polymictic angular breccia with sand matrix located below the Lower Sediments and above the Basement, typically below 500 m depth; and

• Hydrostratigraphic Basement: Permian andesites and dacites; generally considered to have negligible or low drainable porosity.

Core samples were packed in Lexan tubing and shipped to Daniel B. Stephens & Associates Inc. ("DBS"), Inc., a laboratory in the U.S., to measure Relative Brine Release Capacity (RBRC). This method of porosity determination is designed to estimate Specific Yield, which is the portion of the total porosity that can reasonably be expected to drain through pumping. General porosity trends were consistent with geology, with considerable variability also noted within geological units.

RBRC was measured in 307 core samples (across all drilling campaigns), to estimate the Specific Yield of each geological unit. Pumping tests were also completed in the Hyper-Porous Halite, Upper Sediments and Porous Halite.

A summary of the RBRC measurements and the percentage of the resource in each unit is provided in Table 4.

Table 4 – RBRC Results and the Distribution of the Resource between the Primary Geological Units

The Hyper-Porous Halite hosts 11% of the resource. A pumping test was completed in this unit that included the use of fluorescein dye, which enabled estimation of Effective Porosity, a parameter that is closely related to Specific Yield. The test provided an Effective Porosity value of 15%, which is consistent with the average RBRC value for the unit.

The Lower Sediments and Fanglomerates host a combined 35% of the total resource (almost entirely classified as inferred resource, due to depth and lower borehole density). Only 13 boreholes penetrate to these units, and only two completely penetrate the units. Further exploration is required at depth along the entire salar complex with the objective of converting these inferred resources into the measured and indicated categories.

The brine data were interpolated directly within FEFLOW, to minimize the potential for errors in transferring distributions between software packages. Mass calculations were conducted within FEFLOW, with consideration of the assigned drainable porosity and the interpolated grade in each model cell.

Further Drilling and Blue Sky

The expansion of the resource estimate in the high-grade zone is based on the discovery of high-grade brine at depth and to the east (and outside) of the previous mineral resource estimate. As a result, the company decided to continue the drilling campaign in the high-grade mineral resource in the next season (starting September 2021). This follow-up drilling campaign will focus on the high-grade mineral resource at depth. The deepest hole in the high-grade zone is currently 365 m, and it did not reach basement. This is taken as an indication of further discovery potential at depth and to the east of Laguna 3Q under a large flanking alluvial fan. The upcoming drilling campaign will not delay the company's work to initiate pond construction in the coming austral summer, since it is located some distance from the construction sites.

Qualified Person

Neo Lithium requested Groundwater Insight, Inc. based in Nova Scotia, Canada to supervise the preparation of an independent lithium brine resource estimate for the Company's 3Q Project brine deposit in Argentina. Dr. Mark King, Ph.D., P. Geo., Hydrogeologist with Groundwater Insight Inc., served as the Qualified Person (QP) for this work, as such terms are defined by NI 43-101. The mineral resource estimate was prepared by Engineer and Numerical Modeler Paul Martin (P. Eng., Aqua Insight Inc.) using the FEFLOW software.

The current increase of total resources (taking into account measured, indicated and inferred mineral resource categories) is approximately 9%. Therefore, the company is of the view that issuance of a new NI 43-101 Technical Report, to document the resource, is not required at this time.

The final Technical Report (including a resource and reserve estimate to be supervised by Groundwater Insight, Inc.) will be prepared in accordance with NI 43-101 and will be consistent with the standards and guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum. The report is now in preparation by Worley, and it will be issued as a Definitive Feasibility Study at the end of Q3 or beginning of Q4 2021.

Dr. King has read and approved the contents of this news release, concerning the preparation of the mineral resource estimate. Waldo Perez, Ph.D. and P.Geo., is the internal Qualified Person for the 3Q Project in accordance with NI 43-101.

Brine Sample Collection (QA/QC)

The brine samples collected in the field were delivered by the Company to Andesmar Transport Company ("Andesmar") in Catamarca city, in the province of Catamarca. Andesmar delivered the samples by truck to Alex Stewart Laboratories ("ASL"), an ISO 9001-2008-certified laboratory in Mendoza, Argentina.

ASL used the following analytical methodologies: ICP-OES (inductively-coupled plasma-optical (atomic) emission spectrometry) to quantify boron, barium, calcium, lithium, magnesium, manganese, and potassium; an argentometric method to assay for chloride; a gravimetric method to analyze for sulfate; a volumetric analysis (acid/base titration) for the evaluation of alkalinity (as CaCO3); a gravimetric method to determine density and total dissolved solids; and, a laboratory pH meter to determine pH.

All analytical work is subject to systematic and rigorous Quality Assurance-Quality Control procedures. A reference ("standard") sample was inserted into the sample stream at a frequency of approximately 1 in 15 samples; a field blank was inserted at a frequency of approximately 1 in 15 samples; and a field duplicate sample was inserted at a frequency of approximately 1 in 15 samples.

About Neo Lithium Corp.

Neo Lithium Corp. has quickly become a prominent new name in lithium brine development by virtue of its high quality 3Q Project and experienced team. Neo Lithium is rapidly advancing its 100% owned 3Q Project – a unique high-grade lithium brine lake and salar complex in Latin America's "Lithium Triangle".

The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha.

Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile and at its website at www.neolithium.ca, including various pictures of ongoing work at the project.

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

Cautionary Statements Regarding Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements concerning the Sidecar Placement and the Brokered Offering, the intended use of proceeds therefrom, the Closing Date and receipt of regulatory approvals, including the approval of the TSXV. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results and to mineral resource and reserve calculations, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.

SOURCE Neo Lithium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/09/c8932.html

VANCOUVER, BC, June 9, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Neo Lithium Corp.

TSX-Venture Symbol: NLC

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 8:53 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/June2021/09/c9244.html

The fertilizer industry is riding on solid market fundamentals underpinned by strong global demand and prices for crop nutrients. The underlying strength of the agricultural market, rising crop commodity prices and healthy farm economics are driving demand for fertilizers globally.

Demand for fertilizers is also backed by the need to grow the production of grains to address rising consumption. Moreover, the constant need of growers to nourish their crops, replenish nutrients in the soil following a harvest and boost yields to feed a growing population support the bullish case for fertilizers.

Strong farm profits and higher planted acreage are expected to drive demand for fertilizers in the United States this year. Strong grower economics are also likely to support demand in other major markets such as Brazil and India. A tight global supply-demand balance is also driving fertilizer prices.

Farm economics have strengthened in the United States on the back of a spike in crop commodity prices and government support. According to the U.S. Department of Agriculture (“USDA”), net farm income is projected to be $111.4 billion in 2021. While net farm income is forecast to dip 8.1% from the 2020 level due to lower federal payments to farmers, it would still be 21% higher than its 2000-19 average, based on USDA projections.

It is worth noting that farm profits shot up to their highest level in seven years in 2020 on the back of record levels of federal payments to growers in the wake of the pandemic. Notwithstanding the expected year-over-year decline, solid farm income backed by higher agricultural commodity prices is likely to incentivize farmers to spend on crop nutrients this year.

Meanwhile, phosphate markets are likely to remain robust in the near term on solid demand and pricing dynamics. Tight availability along with firm demand is driving up phosphate prices globally. Potash prices have also strengthened on the back of robust global demand, aided by strong grower economics, higher crop prices and low global inventory levels.

Demand for nitrogen fertilizer also remains healthy in major markets. Global nitrogen requirement is being driven by demand in North America, India and Brazil. Healthy corn acres in the United States are expected to spur nitrogen demand in North America in 2021. Moreover, demand for urea imports into Brazil and India remains favorable. Lower global supply availability stemming from reduced operating rates and a spike in energy prices are also likely to boost nitrogen prices.

Moreover, strong global demand coupled with supply constraints have provided a boost to crop commodity prices. Notably, prices of corn and soybean have rallied to multi-year highs. Higher agricultural commodity prices bode well for crop nutrient demand. Expectations of higher planted corn and soybean acres globally this year on the back of higher crop prices also suggest a pickup in fertilizer demand.

Favorable Zacks Industry Rank

The Zacks Fertilizers industry currently carries a Zacks Industry Rank #25, which places it in the top 10% of more than 250 Zacks industries. The favorable rank reflects the industry’s strength. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

Price Performance

The Zacks Fertilizers industry has outperformed the broader market in a year’s time. While the industry has rallied 73.1%, the S&P 500 has returned 34%.

Image Source: Zacks Investment Research

4 Stocks Worth a Bet

The companies in the fertilizers space are well placed to benefit from strong pricing and demand dynamics for crop nutrients. Factors like healthy farm income and expectations of increased planted acres are expected to drive demand globally. As such, the time is ripe for the investors to add some fertilizer stocks that offer significant growth prospects.

Below we highlight four stocks, with a solid Zacks rank, that are good options for investment right now. Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer good investment opportunities.

You can see the complete list of today’s Zacks #1 Rank stocks here.

CF Industries Holdings, Inc. CF: The Illinois-based company sports a Zacks Rank #1. The company should benefit from higher nitrogen fertilizer demand in major markets. Higher nitrogen prices are also expected to support the company’s bottom line. CF Industries also remains committed to boost shareholders’ value by leveraging strong cash flows.

The company has expected earnings growth rate of 121.8% for the current year. The Zacks Consensus Estimate for current-year earnings for the company has also moved up 55.2% in the past 60 days. The company’s shares have also rallied around 80% over the past year.

Nutrien Ltd. NTR: This Canada-based company carries a Zacks Rank #2. The company should benefit from solid demand and higher prices for fertilizers, especially potash. It is expected to gain from strong potash sales volumes this year on the back of solid domestic and overseas demand. Nutrien is also well placed to gain from acquisitions, cost efficiency and increased adoption of its digital platform. The company also continues to grow its footprint in Brazil through acquisitions, including Tec Agro.

Nutrien has expected earnings growth rate of 78.3% for the current year. The Zacks Consensus Estimate for earnings for the current year has also been revised 18.5% upward over the last 60 days. The stock has also shot up roughly 71% over the past year.

Yara International ASA YARIY: The Norway-based company has a Zacks Rank #2. It should benefit from the strength in the nitrogen fertilizer market. Rising nitrogen prices are expected to lend support to its margins. Yara should also gain from a recovery in its industrial business on the back of a rebound in demand.

The company has expected earnings growth rate of 27.3% for the current year. The consensus estimate for earnings for the current year has also been revised 1% upward over the last 60 days. The stock has also gained roughly 50% over the past year.

Sociedad Quimica y Minera de Chile S.A. SQM: The Chile-based company carries a Zacks Rank #2. The company should benefit from being the low-cost producer of potassium chloride, potassium sulfate and potassium nitrate. Moreover, higher demand is expected to boost sales volumes in its specialty plant nutrition business this year. Rising demand is also expected to drive prices of potassium chloride.

The company has expected earnings growth rate of 34.4% for the current year. The consensus estimate for the current year has also been revised 5.2% upward over the last 60 days. The stock has also rallied around 62% over a year.

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Vale is the IBD Stock Of The Day as the Brazilian miner is looking to exit the coal business. The stock is working on a new buy point.

European stock markets were mixed on Wednesday ahead of US president Joe Biden's visit to the UK later in the day for the G7 Summit, his first international trip since taking office. 

The FTSE 100 (^FTSE), which has been trading in the red all the day, closed down 0.2%, falling below the 7,100 mark to 7,082. 

Markets continued to be cautious about inflation as they reacted to Chinese inflation data. 

"Rising inflation in China – up from 0.9% in April to 1.3% in May – can shoulder some of the blame, causing a flurry of losses in the FTSE’s mining sector," said Connor Campbell, financial analyst at SpreadEx. 

Major mining stocks weighed heavy on the FTSE after falling on the news. Rio Tinto (RIO.L) declined 2%, Anglo American (AAL.L) dropped 3% and Antofagasta (ANTO.L) was down 1.8%. 

But travel and COVID vaccine stocks helped it make up for some lost ground. British Airways owner International Consolidated Airlines Group (IAG.L) closed up nearly 4%, while AstraZeneca (AZN.L) was up 3% and GlaxoSmithKline (GSK.L) gained over 2%. 

Meanwhile, the World Bank updated its growth forecast, with the global economy now set for the fastest recession recovery in more than 80 years. The Washington-based group expects the world economy to grow by 5.6% in 2021. The upgraded outlook beats previous expectations in January for growth of 4.1%.

Despite the recovery, the institution warned on Tuesday that global output will be about 2% below pre-pandemic projections by the end of this year.

Things on the continent are also moving in the right direction, with Europe’s COVID vaccinations accelerating after a slow start and most countries lifting lockdown restrictions, with inflation, consumer and business confidence rebounding strongly.

European stocks were mixed. France’s CAC (^FCHI) was up 0.3%, and the DAX (^GDAXI) ended the session 0.3% lower in Germany.

Investors await the key event this week, a meeting of the European Central Bank (ECB) on Thursday, to gauge how the upbeat economic outlook changes the policy plans of the president Christine Lagarde and the bank, as well as the latest inflation data from the US, also on Thursday.

Read more: UK property market hots up with homes under sale at decade high

Major indices have been on a knife edge amid fears the pandemic recovery will cause economies to overheat and prompt central banks to withdraw policy support sooner than expected.

Inflation concerns, supply-chain issues and staff shortages are also adding further pressure as investors look for direction.

Across the Atlantic, US stocks opened mixed following Europe's lead ahead of Thursday’s consumer-price data that could offer hints on how long the Federal Reserve holds off tapering stimulus.

Wall Street’s blue-chip S&P 500 (^GSPC) was up 0.1% at the time of London's close on Wednesday, after coming within inches of a fresh record on Tuesday. 

The Dow Jones (^DJI) was trading less than 0.1% higher, and the tech-heavy Nasdaq (^IXIC) continued its rally, gaining 73.86 points, or just over 0.5% after the opening bell, it declined to trade up 0.2% shortly after. 

Asian stocks were also mixed overnight. The Nikkei (^N225) fell 0.4% in Japan, while the Hang Seng (^HSI) was down 0.2% and the Shanghai Composite (000001.SS) closed just over 0.3% up.

It comes after the Chinese producer price index (PPI) jumped 9% from a year earlier, the highest in over 12 years, on surging commodity prices. The country’s consumer price index for the same month rose 1.3% from a year earlier.

China has been taking steps to curb the recent sharp increase in commodity prices. "While some of the rise can be attributed to base effects due to the huge slide in commodity prices that we saw in March and April last year, which saw PPI decline 3.7%, there is increasing evidence that various supply side issues are starting to create a situation where rather than being transitory, inflation pressures could become more persistent," said Michael Hewson, chief market analyst at CMC Markets. 

Crude oil (CL=F) fell 0.3% as the US dashed hopes of Iranian crude exports returning, it was trading up 0.4% to $70.30 (£50) earlier in the day. 

US Secretary of State Antony Blinken said that even if America reached a nuclear deal with Iran, hundreds of sanctions on Tehran would remain in place.

Brent (BZ=F) was also in the negative territory, down 0.2% to $72.11. Both benchmarks rallied last week, with crude hitting $70 a barrel for the first time since October 2018.

Watch: What are SPACs?

Edmonton, Alberta–(Newsfile Corp. – June 9, 2021) – Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) ("Grizzly" or the "Company") is pleased to announce that field crews have mobilized to commence the evaluation of high-priority conductivity anomalies in the search for Cobalt (Co) – Copper (Cu) – Silver (Ag) mineralization that have been identified at its Robocop Property following analysis of the recent 400 line-km Versatile Time Domain Electromagnetic ("VTEM™") and magnetic survey data (Figure 1 below). Initial geochemical sampling will be conducted across the property which will be followed up by ground geophysical surveys over the high-priority anomalies. The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the "Property"), near the hamlets of Grasmere and Roosville.

Brian Testo, CEO of Grizzly commented, "It is great to see the mobilization of field crews. The geophysical anomalies will be drill tested later in the year following additional fieldwork to identify drill-collar locations. The Property has significant potential for new copper-cobalt discoveries."

Crews from APEX Geoscience Ltd. have been mobilized to the field to conduct follow-up geochemical surveys to test a number of high and secondary priority geophysical anomalies identified in the vicinity of the "Discovery Area" (See Figure 2 below) and across the property. The Discovery Area has provided historical anomalous trench and core intersections of up to 0.134% cobalt (Co), 1.19% copper (Cu) and 33.8 g/t silver (Ag) over 1.23 m. Sampling will extend the geochemical coverage in the discovery area and across the entire project area in order to assist with targeting the important geophysical anomalies with follow-up ground surveys leading to drilling.

Fig 1. New mineral claims (in white outlines) on a map of calculated time constant TAU values for conductance for S Field (dB/dt) with Cu in rocks & soils.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4488/87045_6f86ae2fd4db098b_002full.jpg

A number of high priority targets have been identified with some in close proximity to known Co-Cu-Ag geochemical anomalies identified in historical rocks grab samples, soils and drilling. Figure 2 below provides an example of several such targets in the vicinity of the main Discovery Area (Anomalies 14-3, 15-3 and 16-3) and a buried series of EM anomalies (13-3 and 54-3 to 58-3) along a ridge with significant down-slope Cu-Co-Ag anomalies on the south face of the ridge. These targets will be further investigated using IP or some similar ground geophysical technique in the upcoming program. Figure 2 also shows a number of EM anomalies of interest elsewhere on the property. All of these anomalies will be targeted with at least prospecting, rock, soil and stream sediment sampling during the upcoming exploration program.

Fig 2. EM anomalies (including high priority anomalies as white stars) on a map of conductance for S Field (dB/dt) with Cu in rocks & soils and planned sampling areas.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4488/87045_6f86ae2fd4db098b_003full.jpg

The property is hosted within a similar geological setting to the Idaho Cobalt-Copper belt where conductivity (EM) and magnetic surveying techniques have been used previously to successfully guide drilling of prospective targets and assist in making new metal discoveries.

HIGHLIGHTS FOR THE ROBOCOP PROPERTY

• The Robocop Project is comprised of 9,053 acres (3,663 ha) across five mineral claims that are all road accessible, just off Provincial Highway 93 in southeast B.C.

• Initial surface trenching in the late 1980's to early 1990's yielded up to 0.06% Co and 1.93% Cu over 6 metres (m) in one trench, and in a separate trench up to 0.146% Co, 1.8% Cu and 5.3 grams per tonne (g/t) Ag over 5 m in sediment-hosted sulphide mineralization within middle Proterozoic Purcell Group rocks (Thomson, 1990).

• A total of 15 drill holes in the area between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 0.134% Co, 1.19% Cu and 33.8 g/t Ag over 1.23 m core length in hole R-1990-5 and 0.14% Co, 0.9% Cu and 2.7 g/t Ag over 3.1 m core length in hole R-1990-6 (Thomson, 1990), along with an intersection of 0.18% Co, 0.28% Cu and 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009).

• All but one of the historical drillholes tested a single target in an area about 500 m by 350 m. The Property is approximately 10 km in length and 3.5 km in width and contains at least four untested anomalous soil +/- rock geochemical targets.

• Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to mineralization at Jervois Mining Ltd.'s Idaho Cobalt project and Hecla's Revett Formation hosted mineralization near Troy, Montana.

The Property has yielded significant historical cobalt, copper and silver results and presents an opportunity to discover battery and electrification metals as the world shifts to electric vehicles, sustainable practices and greener alternatives. The macroeconomic outlook for battery metals such as Co and Cu remains strong with the ongoing shift to electric vehicles. It is estimated that the battery sector accounts for approximately 57% of current Co demand; this is expected to grow over the next five years to 72%, and will require an additional 100,000 tonnes/annum of Cobalt to meet demand.^[1]

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

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, with 93.3 million shares issued, focused on developing its over 160,000 acres of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Tel: 780 693 2242

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

Chris Beltgens
Corporate Development
Tel: 604 347 9535
Email: cbeltgens@grizzlydiscoveries.com

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

Caution concerning forward-looking information

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

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

^[1] Cobalt's Price Rises Highlight Shift to Battery-Driven Pricing Dynamics, Benchmark Mineral Intelligence, November 19^th, 2021

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87045