In this article, we discuss the 10 best copper stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Copper Stocks to Buy Now.

Copper is on track to become the new gold as the gap between supply and demand widens. According to a prediction by Bank of America, the price of copper could climb to $20,000 per metric ton within the next three years. However, the copper industry has been hit in recent weeks as the US prepares to lift interest rates, sending the price of the dollar surging and reducing the demand for the metal. In a double blow to the industry, China has announced that it will release the metal from national reserves in a bid to control commodity prices.

These developments have hit the copper industry that was on a bull run following the rise in demand for the metal as the economy reopened following the pandemic lockdowns. Copper is used in many electrical products like wires, motors, mobile devices, and others. It is also used in consumer ware and interior components of housing. Lately, as the demand for electric vehicles rises, copper is rapidly being consumed as it offers durability, high conductivity and efficiency, and is used in EV vehicles, charging stations, and other EV-related products.

Some of the companies that are at the forefront of copper production and could cash in on the expected boom for the metal in the long-term include Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM). In February, Freeport-McMoRan Inc. (NYSE: FCX) CEO Richard Adkerson announced that the firm was seeking to approve expansions at US-based copper mines to keep up with the surging demand, especially as copper was a central product for the new climate projects of the US government.

Meanwhile, Rio Tinto Group (NYSE: RIO), the United Kingdom-based mining firm, posted its biggest annual profit since 2011 in February as rising metals prices boosted revenue. It also declared the biggest dividend in its almost 15-decade-long history, totaling over $9 billion in payments to shareholders for 2020. Although this rise in earnings is largely attributed to the soaring price of iron, which accounts for more than 90% of the total earnings, the surge in copper prices also gave a firm push as it delivered a record quarter at the end of 2020.

Newmont Corporation (NYSE: NEM), the largest gold mining firm in the world, has also benefited from the copper business over the past few months. In April, the firm was named among the highest convictions picks for the second quarter by Bank of America. The company beat market expectations on earnings per share for the fourth quarter of 2020 even as gold production fell because of rising prices. In February, the firm hiked the quarterly dividend payment by a whopping 38%.

It remains to be seen how these companies weather the bear tailwinds in the coming months. Stock volatility in the past few years has pummeled entire investment portfolios in the past few years. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Photo by Ricardo Gomez Angel on Unsplash

With this context in mind, here is our list of the 10 best copper stocks to buy now. These were selected keeping in mind annual copper production, hedge fund sentiment, and the business fundamentals underlying each company.

Best Copper Stocks to Buy Now

10. Barrick Gold Corporation (NYSE: GOLD)

Number of Hedge Fund Holders: 49

Barrick Gold Corporation (NYSE: GOLD) is a mining firm that focuses on the extraction and development of gold and copper. It has operations in more than 10 countries around the world. It is placed tenth on our list of 10 best copper stocks to buy now. The stock has offered investors returns exceeding 2.8% over the past three months. In the first quarter of 2021, a surge in prices helped the firm with a 31% quarter-to-quarter increase in revenue from copper mines in Chile, Saudi Arabia and Zambia.

On June 4, Barrick Gold Corporation (NYSE: GOLD) Mark Bristow told the media that the company hoped to restart a mining operation in Papua New Guinea (PNG) under a new deal that would exploit the resources in the operation under a joint venture with PNG stakeholders.

At the end of the first quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Barrick Gold Corporation (NYSE: GOLD), down from 53 the preceding quarter worth $1.7 billion.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD) is one of the best copper stocks to buy now.

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Barrick Gold Corporation (NYSE: GOLD) was one of them. Here is what the fund said:

9. Teck Resources Limited (NYSE: TECK)

Number of Hedge Fund Holders: 30

Teck Resources Limited (NYSE:TECK) is a natural resources firm that engages in the mining of copper, zinc, and other metals. It is ranked ninth on our list of 10 best copper stocks to buy now. The stock has returned more than 102% to investors in the past twelve months. The firm has mining interests in many countries, including Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States, among others. The firm is one of the biggest copper producers in the world with copper mines in Canada and South America.

On May 26, investment advisory Deutsche Bank upgraded Teck Resources Limited (NYSE:TECK) stock to Buy from Hold with a price target of $30 on the back of growth potential with regards to the QB2 copper project and the returns it promised in the medium term.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 9.3 million shares worth more than $179 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Teck Resources Limited (NYSE:TECK) is one of the best copper stocks to buy now.

8. Vale S.A. (NYSE: VALE)

Number of Hedge Fund Holders: 31

Vale S.A. (NYSE: VALE) is a metals mining company that concentrates on the production of iron ore, nickel, and other metals. The firm is one of the largest ones in Brazil and markets logistical services related to these metals in addition to mining and development. It is placed eighth on our list of 10 best copper stocks to buy now. The company’s shares have returned more than 109% to investors over the past twelve months. Last year, the firm produced almost 360,000 metric tons of copper.

On June 4, Vale S.A. (NYSE: VALE) halted production at two mines in the Minas Gerais region of Brazil after local officials evacuated people from nearby the site of Xingu dam. Brazilian officials have said that the dam is close to collapsing but Vale disputes this.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Vale S.A. (NYSE: VALE) with 38 million shares worth more than $661 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Vale S.A. (NYSE: VALE) is one of the best copper stocks to buy now.

7. BHP Group (NYSE: BHP)

Number of Hedge Fund Holders: 18

BHP Group (NYSE: BHP) is an Australian natural resources firm with interests in petroleum, copper, iron, and coal. The firm owns a copper mine in Chile, as well as other copper-related assets elsewhere. It produced more than 1.3 million tons of copper in 2020. The firm owns a copper mine in South Australia. It is ranked seventh on our list of 10 best copper stocks to buy now. The stock has returned more than 43% to investors over the past year.

On June 11, BHP Group (NYSE: BHP) shares jumped close to 1% as the firm announced that workers at a copper mine in Chile had accepted work contracts, putting an end to rumors about a strike that could have hit the mine and global copper production.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), BHP Group (NYSE: BHP) is one of the best copper stocks to buy now.

6. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Number of Hedge Fund Holders: 13

Turquoise Hill Resources Ltd. (NYSE: TRQ) is a mineral exploration and development company. It is placed sixth on our list of 10 best copper stocks to buy now. The stock has returned more than 142% to investors in the past twelve months. The company concentrates on operations related to copper, gold, and silver. In 2020, the firm produced 149,631 tons of copper, beating guidance of 140,000 tons.

On May 12, Turquoise Hill Resources Ltd. (NYSE: TRQ) posted earnings results for the first quarter of 2021, reporting earnings per share of $1.18, beating market expectations by $0.63. The revenue over the period was more than $520 million, up 302% year-on-year.

At the end of the first quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $575 million in Turquoise Hill Resources Ltd. (NYSE: TRQ), up from 12 in the previous quarter worth $374 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Turquoise Hill Resources Ltd. (NYSE: TRQ) is one of the best copper stocks to buy now.

Click to continue reading and see 5 Best Copper Stocks to Buy Now.

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Disclose. None. 10 Best Copper Stocks to Buy Now is originally published on Insider Monkey.

MELBOURNE, Australia, Jun 21, 2021–(BUSINESS WIRE)–Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. The new vehicles, primarily used for dust suppression on site, will enhance productivity by enabling mine operations to digitally track water consumption and reduce waste.

Developed through a successful collaboration with leading equipment manufacturer, Caterpillar, three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills. The vehicle’s intelligent on-board system detects dry and dusty conditions on site, triggering the application of water to roads to keep them in good condition.

The refilling process is also completely automated with the water trucks recognising when it is time to refill, prompting them to self-drive to the water stand, park and top-up before returning to the field. They boast a 160,000-litre tank capacity, a 33 per cent increase on Rio Tinto’s largest water truck which has a tank capacity of 120,000-litres.

Once deployed, the water trucks will be integrated into Rio Tinto’s existing Autonomous Haulage System which has been shown to significantly improve safety by reducing the risks associated with operators working around heavy machinery.

Rio Tinto Iron Ore chief executive Simon Trott said "We have worked closely with Caterpillar to safely and successfully deploy the world’s first fully autonomous water truck. Water spraying is a vital part of mining operations and this new technology will improve productivity and reduce water usage across our operations.

"The continued expansion of our autonomous fleet helps improve safety and continues Rio Tinto’s efforts to adopt world-leading technology to enhance our operations and realise our vision of making Gudai-Darri one of the world’s most technologically advanced mines."

Caterpillar Resource Industries Group President Denise Johnson added "We are pleased to work with Rio Tinto to introduce the next innovation in mining automation. Rio continues to pioneer technology advancements and the water truck, working in conjunction with the autonomous hauling trucks and drills, will further accelerate Rio Tinto’s site performance. This is another important step in our continual journey in autonomous solutions for our customers."

Notes for editors

Gudai-Darri is 100 per cent owned by Rio Tinto, is located approximately 35 kilometres north-west of Rio Tinto’s Yandicoogina mine site, and about 110 kilometres from the town of Newman in the Pilbara region of Western Australia.

Construction continues to progress with production ramp-up on track for early 2022. Once complete, the mine will have an annual capacity of 43 million tonnes, underpinning production of the Pilbara Blend, Rio Tinto’s flagship iron ore product.

Rio Tinto’s relationship with Caterpillar extends over 50 years. Caterpillar was founded in 1925 and is an industry leading manufacturer of construction and mining equipment, diesel and natural gas engines as well as gas turbines and diesel-electric locomotives.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005358/en/

Contacts

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Rio Tinto plc
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Category: general

Rio Tinto and other mining giants dragged stocks in London lower on Monday, amid fears that commodity prices were near the top of a cycle and weakness in both iron ore and copper.

VANCOUVER, British Columbia, June 21, 2021 (GLOBE NEWSWIRE) — North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to announce the start of a $5.6 million bulk sampling program at its Naujaat Diamond Project, Nunavut.

Field crews have arrived on site and preparations are underway for the start of sample collection during the first week of July. The program, scheduled to run through the end of August, will involve collection of up to 2,000 tonnes from the Q1-4 kimberlite. The sample will be shipped south in September, with processing and diamond recovery expected to start in the fourth quarter of calendar 2021. Diamonds recovered from the sample are intended to confirm the size distribution and character of an important population of potentially high-value, fancy yellow to orange yellow diamonds found in the Q1-4 deposit.

The program is funded by partner Burgundy Diamond Mines (ASX-BDM), as part of a June 1, 2020 option agreement under which Burgundy may earn a 40% interest in the Naujaat Project by funding the current bulk sample program.

About the Naujaat Project

The Naujaat Project is located near the community of Naujaat, Nunavut. A total of eight kimberlite pipes have been identified within the Project as well as several laterally extensive kimberlite dyke systems. The Q1-4 kimberlite, located just 7 km from the Company’s laydown near the community, is the largest and most diamondiferous of the kimberlites discovered to date and hosts an important, potentially high-value, population of Type IaA – Ib fancy coloured, yellow to orange yellow, diamonds. At 12.5 ha in surface area, Q1-4 hosts an estimated inferred mineral resource of 26.1 million carats total diamond content in 48.8 million tonnes of kimberlite with average +1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205m. Delineation drilling of Q1-4 suggests significant potential to expand the resource at depth with the deepest drill hole terminating in kimberlite at a depth of 376m. The reader is cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability. Details on data verification and resource estimation procedures can be found in the May 2013 technical report filed on www.sedar.com as well as posted on North Arrow’s website along with details on subsequent exploration efforts on the Project [here].

The Naujaat Diamond Project exploration program is being conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU and ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed and approved the technical contents of this press release.

About North Arrow Minerals

North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the global diamond industry. North Arrow’s most advanced diamond project is the Q1-4 diamond deposit at the Naujaat Project (NU), where a $5.6M 2,000 tonne bulk sample is underway. The Company has also discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects and is evaluating and exploring for additional kimberlites at the Loki and LDG JV Projects (NWT). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of Agnico Eagle’s Doris Gold Mine.

North Arrow Minerals Inc.

/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO

For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
Website: www.northarrowminerals.com

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

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow 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. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

TORONTO, ON / ACCESSWIRE / June 21, 2021 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD) (OTCQB:TSDRF) (FSE:TZO) is pleased to announce that the Ministry of Mineral Resources, Green Technology and Energy Security ("MMGE") in Gaborone, Botswana has granted the renewal of Prospection License 369/2014 for a two-year period commencing October 1, 2021. The license area contains the Company's BK16 kimberlite project

The diamondiferous BK16 kimberlite pipe is located within the Orapa Kimberlite Field ("OKF") in Botswana and contains rare and valuable Type IIa diamonds. BK16 is located 37 kilometers (km) east-southeast of the Orapa Diamond Mine AK01, 25 km southeast of the Damtshaa Diamond Mine, and 13 km north-northeast of the Letlhakane Diamond Mine, all operated by Debswana and 28 km east-northeast from Lucara Diamond Corporation's Karowe Mine (AK6). The OKF has produced such notable diamonds as the 1,109 carat 'Lesedi La Rona' and the 813 carat 'Constellation' from Lucara Diamond Corporation's Karowe (AK6) mine.

Tsodilo's Chairman and CEO, James M. Bruchs, commented "We are pleased that the MMGE has renewed the BK16 license which will allow us to move into our Phase II evaluation program which will be a surface bulk sample of 20,000 tonnes of kimberlite which will enhance the work already undertaken and increase confidence in the value of the diamonds and grade as we move closer to developing this asset."

BK16

The diamondiferous BK16 kimberlite pipe is approximately 6 hectares in size at surface and is known to contain rare and valuable Type IIa diamonds. A mini-bulk sampling program was undertaken to obtain an initial determination of the quality and value of the BK16 diamonds. This was successfully undertaken via fourteen (14) 24-inch Large Diameter Drilling (LDD) totaling 3,121 meters. 2,077 tonnes (callipered) of kimberlite were extracted. From this extraction, 243 individual bulk samples were processed at the Company's dense media separation (DMS) plant ahead of X-Ray diamond separation and final hand sorting at the Company's secure recovery unit. The diamond recovery resulted in 509 diamonds weighing 78.403 carats which were studied for value and size frequency distribution (SFD) modelling to model the SFD of the BK16 kimberlite which showed the following:

• successfully demonstrated the potential of the BK16 kimberlite to host high value diamonds between US$ 281 to US$ 792 per carat;

• successfully confirmed the presence of Type IIa diamonds where 3.8% of the diamonds were identified as high-quality Type IIa diamonds consisting predominantly of D color stones; and,

• SFD of the diamonds recovered from the LDD samples indicated that the size distribution of BK16 could be coarser than several producers in southern Africa. There are indications that BK16 could have a broadly similarly coarse shaped size distribution to that of the Lucara's Karowe Mine (Botswana), Petra Diamonds' Premier Mine (South Africa), and Lucapa Diamond's Mothae Mine (Lesotho).

• successfully confirmed the potential of BK16 to host large special stones of +10.8 carats where size frequency distribution analysis indicates that 2% to 5% of the total carats may be greater than 10.8 carats (specials) (which compares favorably with Lucara Diamond Corp.'s Karowe Mine (AK6) production of specials).

This SFD modeling led to a scoping level range analysis Techno-economic modelling of the deposit using some defined variables and options for developing the project. This range analysis suggests that a positive NPV project is possible. The range analysis suggests that at diamond values around $350/ct the target could support a well-managed toll treatment operation. As the value increases to $500-550 it would be viable to contemplate a variety of low-capital intensity operations. At values above $600-650/ct the strategy of a developing a stand-alone full-size operation should be pursued. Still further alternatives involved the utilization of other processing plants in the OKF that are operating beneath their capacity.

These encouraging results suggest that BK16 has the potential to become a mineable asset and justifies moving on to Phase II which is to increase the number of carats significantly by processing a far larger sample which will lead to an increase in the certainty of the grade and diamond value. The Phase II program will consist of the following:

• extract 20,000 metric tonnes of kimberlite to obtain 800 to 1,600 carats of diamonds;

• to significantly improve the understanding of the grade of the deposit in carats per hundred tonnes (cpht);

• solidify further the accuracy of the high diamond value in US$ per carat;

• further confirm the presence and quality of the Type IIa diamond population;

• confirm the presence of larger stones and demonstrate that BK16 will be a significant producer of special stones above 10.8 carats and >100 carat stones;

• define an inferred resource; and,

• further refine the accuracy of the economic fundamentals of the project to move towards detailed feasibility studies and ultimately mining.

The envisioned Phase II surface bulk sampling of this type constitutes standard industry practice for diamond exploration of kimberlites like BK16 to gain enough carats for an effective economic analysis. The Phase II bulk sample design will be a basic small and shallow box-cut style sample. Twenty-five (25) meters of over-burden will be stripped to expose the kimberlite below resulting in a depth of the box-cut design of 30 – 35 meters. Engineering studies undertaken into this surface bulk sample were comprised of a geotechnical characteristic study; a sample location optimization study to maximize number of diamonds; and, a final optimized pit design optimization which construct a box-cut design specifications optimized pit shell that takes into account geotechnical parameters and grade and tonnage considerations. This final design was signed off by the independent engineers. Further to this, a detailed rehabilitation plan was created that meets statutory requirements and will ensure the workings and facilities are safe and restore the environment to as close as possible to its natural state.

For more information about the work undertaken (Phase I) and the next stages of work please see (Phase II and beyond), please see the following presentation on our diamond projects on the website at http://www.tsodiloresources.com/i/pdf/Tsodilo_Diamond_Projects_December-2020.pdf

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. The Company has a 100% interest in its Newdico industrial stone project located in Botswana's Central District. Tsodilo manages the exploration of the Newdico, Gcwihaba, and Bosoto projects. Overall supervision of the Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager and Chief Geologist of the Company and a "qualified person" as such term is defined in National Instrument 43-101.

This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward- looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

SOURCE : Tsodilo Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/652408/BK16-Update-Renewal-of-Prospecting-License-and-Commencement-of-Phase-II-Evaluation

VANCOUVER, British Columbia, June 18, 2021 (GLOBE NEWSWIRE) — North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is providing an exploration update on its 100% owned Loki and CSI Diamond Projects.

North Arrow reports that kimberlite was not discovered during an exploration drill program at the Loki Project located in the Lac de Gras region of the Northwest Territories. Six holes were completed during the program which tested several gravity anomalies that were explained by significant, locally >5m, ice lenses within glacial overburden ranging from 25 to over 30m in thickness. The prominent kimberlite indicator mineral train that terminates in the Loki area remains unexplained. Overburden samples collected during the program will be processed for indicator minerals to help with ongoing interpretation.

North Arrow is pleased to report it has commenced a short till sampling program on its newly staked CSI Project, Nunavut. The property is located immediately west of the diamondiferous Muskox and Jericho kimberlites, covering an area that could potentially host a bedrock source for regionally anomalous kimberlite indicator mineral samples reported by earlier workers. North Arrow’s till sampling is intended to test new interpretations of surficial geology in the area which could help identify a kimberlite source within the property.

The Loki Diamond Project exploration program is managed by Michael MacMorran, P.Geo. (NWT/NU), Project Geologist of North Arrow. North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU and ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. MacMorran and Mr. Armstrong have reviewed and approve the technical contents of this press release.

About North Arrow Minerals

North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the global diamond industry. North Arrow’s most advanced diamond project is the Q1-4 diamond deposit at the Naujaat Project (NU), where funding is in place for a $5.6M 2,000 tonne bulk sample in 2021. The Company has also discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects and is evaluating and exploring for additional kimberlites at the Loki and LDG JV Projects (NWT). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of Agnico Eagle’s Doris Gold Mine.

North Arrow Minerals Inc.

/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO

For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
Website: www.northarrowminerals.com

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

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow 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. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

TSXV: NOVR
OTCQB: NOVRF

VANCOUVER, BC, June 18, 2021 /CNW Telbec/ – Nova Royalty Corp. ("Nova" or the "Company") (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that it has completed a royalty purchase agreement (the "Agreement") with Sociedad Minera Auromín Limitada ("Auromín") pursuant to which Nova acquired the rights to be granted a 1.0% net proceeds royalty (the "Royalty") on the West Wall copper-gold-molybdenum project ("West Wall" or the "Project") for US$4.2 million in cash. West Wall is owned by a 50/50 joint venture between Anglo American plc (LSE: AAL) ("Anglo American") and Glencore plc (LSE: GLEN) ("Glencore").

Alex Tsukernik, Nova's President and CEO, commented, "West Wall is one of the world's premier greenfield copper projects. Together with the 0.98% NSR that we already own on the neighboring Vizcachitas project, through this transaction, Nova now owns royalties on two of the largest and most advanced development projects in one of Chile's most strategic copper producing regions. West Wall is owned by two leading mining companies in Anglo American and Glencore and is a natural extension of Nova's strategy of securing royalties on the most advanced and strategic copper and nickel assets in core mining jurisdictions."

West Wall

West Wall is a copper-gold-molybdenum porphyry deposit located in the Valparaiso Region of Chile, approximately 100km to the northeast of Santiago and 70km north of the Rio Blanco-Los Bronces mineralized district. The Project has two distinct mineralized zones: Lagunillas and West Wall Norte. The mineralization zones are part of an extensive north-northeast striking hydrothermal alteration zone of approximately 9km by 4km. The Royalty covers the Lagunillas and West Wall Norte zones, which comprise the existing resource on West Wall.

As of December 31, 2020, the mineral resource estimate for West Wall was:^(1),(2)

Mineral Resource Statement as at December 31, 2020

Anglo American reported a maiden inferred resource at West Wall, focused exclusively on the Lagunillas zone, on October 19, 2010. The stated inferred resource at that time was 750Mt at 0.54% Cu, 0.05 g/t Au, and 0.01% Mo. Since then, Anglo American and Glencore have completed various exploration activities, which have resulted in the identification of a new mineralized zone, West Wall Norte, and a significant increase in total mineral resources.

The West Wall project is located in the same geological belt as some of South America's largest copper deposits, including Andina, Los Bronces, Los Pelambres, El Pachon, and El Teniente. The Vizcachitas copper-molybdenum development project, on which Nova has an existing 0.98% royalty and is owned by Los Andes Copper (TSXV: LA), is approximately 20km away from West Wall.

A map of the region is shown below.

A map of the West Wall Project area is shown below.

Transaction Details

Under the terms of the Agreement, Auromín assigned Nova all of the rights granted to Auromín (the "Participation"), as defined in a Participation Agreement between Auromín and a subsidiary of Anglo American, concerning West Wall and any other mining tenements established as designated areas in the surrounding region (the "Participation Agreement").

The Participation Agreement provides that, upon the fulfillment of certain conditions, including Anglo American making a production decision at West Wall, a sociedad contractual minera ("SCM") will be incorporated, and into which the mining tenements corresponding to the Project will be transferred. The owner of the Participation will be issued shares in the SCM, which will give such owner an 8.0% interest in the SCM. Subsequently, if one or more mines is brought into production for West Wall or another designated area‎, Anglo American will repurchase from the owner of the Participation the shares in the SCM that correspond to a 7.0% interest in the SCM for a predetermined price, leaving the owner of the Participation with a 1.0% interest in the SCM, which entitles the owner to a 1.0% net proceeds of production royalty from West Wall. A SCM will be similarly established for any other designated area within the scope of the Participation Agreement, giving the owner of the Participation the same rights as stated above with respect to such designated areas.

All payments resulting from the repurchase by Anglo American of the 7.0% interest in the SCM will be reimbursed in full to Auromín. Nova will retain sole ownership of 1.0% of the shares in the SCM, which entitle the owner of such shares to the 1.0% net proceeds of production royalty from the Project or such other designated area, as the case may be, which will not be subject to repurchase by Anglo American.

Nova has agreed to pay a finder's fee to an arm's length person totaling two percent (2%) of the Transaction value based on a volume weighted average trading price of the common shares of the Company prior to the date of closing which will represent an issuance of 30,748 common shares of the Company (the satisfaction of the finder's fee in shares is subject to the acceptance of the TSX Venture Exchange).

At-the-Market Equity Program

The Company is also pleased to provide an update on its At-the-Market Equity Program ("ATM Program"). As of the date of this news release, Nova has sold 1,593,700 common shares at an average price of C$3.60/share ‎under its ATM Program for gross proceeds of C$5.73 million. As a result of these proceeds ‎and cash held on the balance sheet, the Company was fully funded to close the ‎royalty acquisition on West Wall.‎

Qualified Person

Technical information contained in this news release originates in the public disclosure set out above and has been reviewed and approved by Christian Rios, AIPG Certified Professional Geologist, Advisor to Nova and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Nova

Nova is a royalty company focused on providing investors with exposure to the key building blocks of clean energy – copper and nickel. The Company is headquartered in Vancouver, British Columbia and is listed on the TSXV under the trading symbol "NOVR" and on the US OTCQB under the ticker "NOVRF".

ON BEHALF OF NOVA ROYALTY CORP.,
(signed) "Alex Tsukernik"

President and Chief Executive Officer
Phone: (604) 696-4241
Email: info@novaroyalty.com
Website: www.novaroyalty.com

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

TECHNICAL AND THIRD-PARTY INFORMATION

Except where otherwise stated, the disclosure in this press release relating to the West Wall project is based on information publicly disclosed by the owners or operators of this property and information/data available in the public domain as at the date hereof and none of this information has been independently verified by Nova. Specifically, as a royalty holder, Nova has limited, if any, access to the property subject to the Royalty. Although Nova does not have any knowledge that such information may not be accurate, there can be no assurance that such third party information is complete or accurate. Some information publicly reported by the operator may relate to a larger property than the area covered by the Royalty. Nova's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, exploration and expansion potential, production, recoveries and other anticipated or possible future developments on the West Wall project, current and potential future estimates of mineral reserves and resources; future commercial production from the West Wall project or other designated areas; and the attainment of required regulatory approval to the acquisitions of the Royalty. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Nova to control or predict, that may cause Nova's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final non-offering long form prospectus dated August 14, 2020 available for review on the Company's profile at www.sedar.com . Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE Nova Royalty Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/18/c7532.html

Photo by Dominik Vanyi on Unsplash

As the U.S. economy grows at its fastest rate since the 1980s, mining companies are benefiting from a price surge in metals like copper, nickel and aluminum. Behind that price surge is the anticipation of renewed investment in infrastructure and manufacturing, two sectors where mined resources are key components of building and developing new technology.

American Pacific Mining (OTCQB: USGDF), the Canadian-based company focused on copper, gold and silver exploration in the western United States, is one of the rising companies in the space that’s been attracting new investors interested in adding mining stocks to their portfolio. Key acquisitions and a joint venture agreement with the major mining company, Rio Tinto (OTCMKTS: RTNTF) are among the main factors driving investor interest in the high-growth potential stock.

Rio Tinto Began Drilling at the Madison Copper Gold Project

Kennecott Exploration, a division of Rio Tinto, is funding the exploration of the past-producing Madison Copper Gold Project in Montana this year after results from previous drilling campaigns demonstrated high-grade copper and gold potential at the project. The Madison project has a rich history of high grade production, churning out 2.7B pounds of copper with grades ranging from 20% to over 35% and 7,570 ounces of gold at 16.1 grams per tonne between 2008 and 2012. Industry insiders know that high grades like these are phenomenal. American Pacific inherited the earn-in agreement and option to joint venture with Rio Tinto on Madison when it acquired the Madison project last year.

This partnership with a major mining company like Rio Tinto is one of the key signals investors look for in evaluating smaller cap mining stocks. Founded in 1873, Rio Tinto is one of the world’s largest mining companies and owns and operates mines, mills and other facilities around the world. A company as established as Rio Tinto is known for doing significant due diligence before agreeing to be involved in a project. That it’s chosen to invest so much time and capital into the Madison project is a strong testament to the potential at American Pacific Mining’s flagship asset.

Not only does it signal the project’s potential, but it also mitigates much of the risks typically associated with exploration projects. As the operator, Rio Tinto is not only covering the cost of drilling, but it is drilling the project as well, lending its extensive operational expertise, both of which free the junior exploration company from the burden of the financing risk and operation risk for this project.

Investors who buy shares of American Pacific Mining see this as an opportunity to benefit from the added reassurance of a major mining company partnership while paying junior mining stock prices.

Michael Gentile Becomes Strategic Investor in American Pacific Mining

One investor of note is Michael Gentile, CFA. The former portfolio manager for the $2 billion Montreal-based Formula Growth Fund bought a near 20% stake in the company earlier this year, becoming a strategic investor.

During his 15-year tenure at the Formula Growth Fund, Gentile focused on finding promising junior mining and natural resource companies to add to the fund. Since retiring, Gentile has become an active strategic investor, owning a top 5 stake in more than 15 small cap mining companies.

The latest small cap mining company to be added to his portfolio is American Pacific Mining, but the strategic investor with his decades of mining investing expertise is also a strategic advisor to Arizona Metals (OTCMKTS: AZMCF). Headquartered in Toronto, Arizona Metals is a mineral exploration company whose stock has skyrocketed in the past 6 months from $0.76 at the close of 2020 to over $4 in June amid news of new gold-zinc discoveries and the close of a $21,000,000 bought deal offering.

With the combined track record of due diligence in identifying small cap mining stocks for the Formula Growth Fund and the success of the exploration companies currently in his portfolio, Michael Gentile’s investment in American Pacific Mining is seen by many investors as another strong signal of the junior exploration company’s growth potential.

For investors who are new to mining stocks, finding the right ones for your portfolio can be a daunting task as mining company business models are drastically different from other businesses and the mining industry can be hard to evaluate without extensive expertise in the industry. Tracking the investing activities of major mining companies like Rio Tinto that do extensive due diligence before investing in a project and aligning with strategic investors possessing insider knowledge of the industry are two of the best ways to work around those challenges.

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Kathy Entwistle, Managing Director at Morgan Stanley, joins Yahoo Finance to discuss the outlook on the market, meme stock space, and interest rate hike forecasts.

MELBOURNE, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has appointed Peter Cunningham as Chief Financial Officer with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto chief executive Jakob Stausholm said "I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto."

Rio Tinto chairman Simon Thompson said "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions."

Rio Tinto confirms that there are no matters to be disclosed pursuant to Rule 9.6.13(1)-(6) of the Listing Rules of the UK Listing Authority.

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State.

Notes to editors

Peter Cunningham will be issued a standard Rio Tinto executive contract, which includes a 12-month notice period. The remuneration package is in line with our Remuneration Policy approved by shareholders in 2021, and is comprised of the following elements:

• A base salary of £700,000.

• Target annual bonus opportunity at 100 per cent of base salary (with a maximum opportunity of 200 per cent of base salary).

• A long-term incentive plan award of up to 400 per cent of base salary with the first grant to be made in 2022.

• A company pension contribution or a cash allowance in lieu of pension equal to 14 per cent of base salary.

• Other benefits will include company provided health care coverage and eligibility to participate in the all-employee share plans.

• A minimum shareholding requirement of 300 per cent of base salary applies.

Further detail will be disclosed in the 2021 Directors’ Remuneration Report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616006071/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: general

MELBOURNE, June 17 (Reuters) – Alcoa Corp detailed plans on Thursday for a "step change" in alumina production that would allow it to cut 70% of emissions from the carbon intensive process by tapping renewable energy.

Among Australia's emissions intensive exports, alumina and aluminium would be the most at risk from carbon border tariffs that the European Union is set to announce in July, says think tank the Australia Institute.

"It's going to take to around 2030 or so before you get the technology ready to roll out…lots of planning will be needed to make this come together," company official Ray Chatfield told a conference in the city of Perth.

The Australian government has issued grants to help decarbonise the alumina refining process by which aluminium is made and which contributes about 24% of the country's direct manufacturing emissions, or more than 14 million tonnes of carbon dioxide in 2019, government agency data show.

But Australia could leverage its abundant renewable power, providing a strategic advantage for building out more green alumina production, Chatfield, Alcoa's global technical manager for refining energy, said.

The process would replace the natural gas used to generate high-pressure steam with compressors that would capture waste vapour to generate heat. Such compressors would be powered by renewable energy supplied from a power grid.

The process would also cut water use by about 25 gigalitres per year, he said.

About 1,200 MW of new renewable power is required to fully implement the mechanical vapour recompression (MVR) process at Australia’s six alumina refineries, three run by Alcoa, two by Rio Tinto and one by South32, Chatfield said.

Last month, Alcoa received a government grant to test the technology at scale at its Wagerup refinery in Western Australia by the end of 2023.

But adapting existing refineries for the new process would call for significant investment of $2 billion to $5 billion each, and the technology needs to be proved before it can be adopted, Chatfield added.

This week, Rio Tinto said it would look to cut carbon from the calcination process, which contributes a further 24% of process emissions, by replacing natural gas with hydrogen. The remaining 6% of emissions comes from power imports. (Reporting by Melanie Burton; Editing by Clarence Fernandez)

SOREL-TRACY, Quebec, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has started operations at a new commercial scale demonstration plant to produce high-quality scandium oxide at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.

The $6 million project, in which the Government of Quebec contributed approximately $650,000 through the Quebec Plan for the Development of Critical and Strategic Minerals, was completed on time and on budget, less than six months after the start of construction.

Six employees have been hired to operate the plant, which uses an innovative process developed by RTFT to extract high purity scandium oxide from the waste streams of titanium dioxide production, without the need for any additional mining.

Commissioning work is now being undertaken as production ramps up to a capacity of three tonnes of scandium oxide per year. RTFT is already considering the potential for further investments to add additional modules in line with market demand.

Rio Tinto Iron and Titanium managing director Stéphane Leblanc said: "For the first time, customers will benefit from a North American supply of scandium oxide for applications in solid oxide fuel cells, lasers, lighting products or as an additive to produce high-performance alloys. In less than two years, we have gone from testing a process to extract this critical material in a lab to being able to supply approximately 20% of the global market. This is a testament to our team’s capacity to think outside the box and deliver on our commitments."

Quebec Minister of Energy and Natural Resources Jonatan Julien said: "I am very pleased to see this major critical and strategic minerals project come to fruition in Quebec. It will help strengthen the security of our supply and add value to our industrial waste from the mining sector. It is also consistent with the government's vision of creating wealth in a greener economy. I wish Rio Tinto Iron and Titanium and the team at this new plant every success!"

This project is part of a series of innovations supported by Rio Tinto’s Critical Minerals and Technology Centre in the field of critical minerals and materials, including the recent launch of a water atomized steel powder for 3-D printing applications.

With its world-class aluminium business, Rio Tinto is also well positioned to produce aluminium-scandium alloys to meet customer’s needs. In March, the company announced an agreement to provide a first batch of high-performance aluminium-scandium alloy from its North American operations to Amaero, a leader in metal additive manufacturing.

To learn more, visit www.elementnorth21.ca

Notes to editors

RTFT operates an open cast ilmenite mine at Lac Tio near Havre-Saint-Pierre, on Quebec’s North Shore. The ore is used to produce high-quality titanium dioxide feedstock, pig iron, steel and metal at RTFT’s metallurgical complex in Sorel-Tracy, Quebec. Together, the sites employ over 1,600 people.

RTFT has operated in Quebec for 70 years and pioneered the process of removing iron from ilmenite. In the last decade, RTFT has focused on developing, marketing and fine-tuning the UGS process, which produces slag with a very high titanium dioxide content sold to pigment producers.

Founded in 1967, RTFT’s Critical Minerals and Technology Centre conducts research on process improvement and develops new products. The Centre features state-of-the-art equipment and highly specialised instruments, such as inductively coupled plasma spectrometers, X-ray diffractometers, atomic absorption units, image analysers, scanning electron microscopes and powder metallurgy testing laboratory.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005667/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: RTFT

(Corrects advisory that $2-5 bln is estimated cost to retrofit technology to Australia's six existing alumina refineries, not cost per refinery, in paragraph 10. No change to story text.)

MELBOURNE, June 17 (Reuters) – Alcoa Corp detailed plans on Thursday for a "step change" in alumina production that would allow it to cut 70% of emissions from the carbon intensive process by tapping renewable energy.

Among Australia's emissions intensive exports, alumina and aluminium would be the most at risk from carbon border tariffs that the European Union is set to announce in July, says think tank the Australia Institute.

"It's going to take to around 2030 or so before you get the technology ready to roll out…lots of planning will be needed to make this come together," company official Ray Chatfield told a conference in the city of Perth.

The Australian government has issued grants to help decarbonise the alumina refining process by which aluminium is made and which contributes about 24% of the country's direct manufacturing emissions, or more than 14 million tonnes of carbon dioxide in 2019, government agency data show.

But Australia could leverage its abundant renewable power, providing a strategic advantage for building out more green alumina production, Chatfield, Alcoa's global technical manager for refining energy, said.

The process would replace the natural gas used to generate high-pressure steam with compressors that would capture waste vapour to generate heat. Such compressors would be powered by renewable energy supplied from a power grid.

The process would also cut water use by about 25 gigalitres per year, he said.

About 1,200 MW of new renewable power is required to fully implement the mechanical vapour recompression (MVR) process at Australia’s six alumina refineries, three run by Alcoa, two by Rio Tinto and one by South32, Chatfield said.

Last month, Alcoa received a government grant to test the technology at scale at its Wagerup refinery in Western Australia by the end of 2023.

But adapting Australia's existing refineries for the new process would call for significant investment of $2 billion to $5 billion, and the technology needs to be proved before it can be adopted, Chatfield added.

This week, Rio Tinto said it would look to cut carbon from the calcination process, which contributes a further 24% of process emissions, by replacing natural gas with hydrogen. The remaining 6% of emissions comes from power imports. (Reporting by Melanie Burton; Editing by Clarence Fernandez)

Mining stocks fell on Wednesday after China's announcement to release metal reserves to curb commodity prices put miners under pressure. 

Major mining stocks weighed heavy on the FTSE 100 (^FTSE) after falling on the news. Rio Tinto (RIO.L) declined as much as 0.9% and is currently trading 0.7% lower. 

Anglo American (AAL.L) dropped 2% and Antofagasta (ANTO.L) was down 1.5%, Glencore (GLEN.L) crashed 2.8% and Evraz (EVR.L) declined 1.5%. BHP Group (BHP.L) also lost ground, dropping 1.1%. 

"With China having driven much of the upside seen in global commodity prices over the past year, their recent efforts aimed at easing the price pressures have clearly caused major ripples throughout the sector," said Joshua Mahony, senior market analyst at IG.

China said it would release the country's reserves of major industrial metals, including copper, aluminium and zinc in batches "in the near future". 

The country's stockpiling body – China’s National Food and Strategic Reserves Administration – said the move would ensure the supply and price stability of bulk commodities. 

The reserves will be released to non-ferrous metal processing and manufacturing firms via a public bidding process. It did not specify on quantities of metal to be sold, the auction process or which manufacturers will be allowed to bid.

Read more: The chip shortage bringing car factories to a standstill

It came as Chinese industrial data released on Wednesday showed production grew at a less than expected rates in May as chip shortages dragged down car production.

Industrial output grew at 8.8% year-on-year in May 2021, against expectations of 9.2% growth, according to data from the National Bureau of Statistics (NBS). Production was hit by a rise in COVID infections in Guandong province and fresh restrictions have impacted a number of electronic manufacturing plants located in the region, especially chips and semiconductors. 

"The declines in Chinese industrial production seen today highlight the pressure put on economic growth by rising input prices," said IG analyst Joshua Mahony. "With the Chinese announcing that they will start to periodically release reserves of aluminium, copper, and zinc, we are seeing that the country clearly has intentions to do all it can to quell the rise in commodity prices."

The State Council said in May that it would take measures to ensure supply and stable prices for commodities, and regulators had previously warned it would adopt a zero-tolerance policy to market manipulation or hoarding of metals.

The world's largest metals consumer has been struggling to tame a surge in metal prices this year fuelled by a post-COVID economic recovery, ample global liquidity and speculative buying that has dented manufacturers’ margins.

Watch: Could mining make a comeback in Cornwall?

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 866 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their March 31st holdings, data that is available nowhere else. Should you consider Caterpillar Inc. (NYSE:CAT) for your portfolio? We'll look to this invaluable collective wisdom for the answer.

Caterpillar Inc. (NYSE:CAT) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 53 hedge funds' portfolios at the end of the first quarter of 2021. Our calculations also showed that CAT isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), and Sanofi (NYSE:SNY) to gather more data points.

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.

Ric Dillon of Diamond Hill Capital

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, advertising technology one of the fastest growing industries right now, so we are checking out stock pitches like this under-the-radar adtech stock that can deliver 10x gains. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now let's view the latest hedge fund action encompassing Caterpillar Inc. (NYSE:CAT).

Do Hedge Funds Think CAT Is A Good Stock To Buy Now?

At first quarter's end, a total of 53 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards CAT over the last 23 quarters. With the smart money's capital changing hands, there exists an "upper tier" of noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).

More specifically, Bill & Melinda Gates Foundation Trust was the largest shareholder of Caterpillar Inc. (NYSE:CAT), with a stake worth $2355 million reported as of the end of March. Trailing Bill & Melinda Gates Foundation Trust was Fisher Asset Management, which amassed a stake valued at $1487.4 million. Citadel Investment Group, Diamond Hill Capital, and Adage Capital Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Bill & Melinda Gates Foundation Trust allocated the biggest weight to Caterpillar Inc. (NYSE:CAT), around 11.24% of its 13F portfolio. NWI Management is also relatively very bullish on the stock, dishing out 4.83 percent of its 13F equity portfolio to CAT.

Because Caterpillar Inc. (NYSE:CAT) has experienced bearish sentiment from the aggregate hedge fund industry, it's safe to say that there lies a certain "tier" of fund managers that decided to sell off their positions entirely by the end of the first quarter. At the top of the heap, Dmitry Balyasny's Balyasny Asset Management sold off the biggest investment of the 750 funds watched by Insider Monkey, worth an estimated $19.1 million in stock, and Till Bechtolsheimer's Arosa Capital Management was right behind this move, as the fund dumped about $10.9 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let's check out hedge fund activity in other stocks – not necessarily in the same industry as Caterpillar Inc. (NYSE:CAT) but similarly valued. These stocks are Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), Sanofi (NYSE:SNY), The Charles Schwab Corporation (NYSE:SCHW), Applied Materials, Inc. (NASDAQ:AMAT), TOTAL S.A. (NYSE:TOT), and International Business Machines Corp. (NYSE:IBM). This group of stocks' market values resemble CAT's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BUD,18,979916,0 RIO,25,1596509,-1 SNY,15,1142178,0 SCHW,76,4905041,15 AMAT,78,5711193,17 TOT,17,1163601,3 IBM,41,1355701,-10 Average,38.6,2407734,3.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 38.6 hedge funds with bullish positions and the average amount invested in these stocks was $2408 million. That figure was $4956 million in CAT's case. Applied Materials, Inc. (NASDAQ:AMAT) is the most popular stock in this table. On the other hand Sanofi (NYSE:SNY) is the least popular one with only 15 bullish hedge fund positions. Caterpillar Inc. (NYSE:CAT) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for CAT is 60.4. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.2% in 2021 through June 11th and beat the market again by 3.3 percentage points. Unfortunately CAT wasn't nearly as popular as these 5 stocks and hedge funds that were betting on CAT were disappointed as the stock returned -4.4% since the end of March (through 6/11) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as many of these stocks already outperformed the market since 2019.

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Disclosure: None. This article was originally published at Insider Monkey.

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Rio Tinto shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.

MELBOURNE, Australia, Jun 15, 2021–(BUSINESS WIRE)–Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

The study program includes work to be done at Rio Tinto’s Bundoora Technical Development Centre in Melbourne, where Rio Tinto’s in-house development capability has now been extended to hydrogen.

ARENA CEO Darren Miller said "If we can replace fossil fuels with clean hydrogen in the refining process for alumina, this will reduce emissions in the energy and emissions intensive refining stage of the aluminium supply chain. Exploring these new clean energy technologies and methods is a crucial step towards producing green aluminium.

"This study will investigate a potential technology that can contribute to the decarbonisation of the Australian alumina industry. If successful, the technical and commercial lessons from Rio Tinto’s study could lead to the implementation of hydrogen calcination technology, not only in Australia, but also internationally."

Rio Tinto Aluminium Pacific Operations acting managing director Daniel van der Westhuizen said "We see the ARENA and Rio Tinto-funded study as a step towards reducing refinery emissions and one that has the potential to play an important part in Rio Tinto’s commitment to decarbonisation.

"We’re investing in work that needs to be done, not only to decarbonise one of our sites, but also to help provide a lower-emissions pathway for Rio Tinto and the global aluminium industry.

"We recognise we are on a long road towards reducing emissions across our operations and there is clearly more work to be done. But projects such as this are an important part of helping us get there."

The study comprises two distinct work packages:

• Preliminary engineering and design study conducted to understand the construction and operational requirements of a potential demonstration project at the Yarwun alumina refinery.

• Simulating the calcination process using a lab scale reactor at the Bundoora Technical Development Centre.

Once complete, the study will inform the viability of a potential demonstration project. Rio Tinto has lodged patents for the hydrogen calcination process.

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005510/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: General

CRANBROOK, BC / ACCESSWIRE / June 15, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL)("EPL" or "Eagle Plains") has mobilized crews to commence exploration fieldwork on the Dictator Project, located 70km east of Vernon, B.C. (the "Property"). EPL holds the exclusive right to obtain a 100% interest in the property (details below). Current fieldwork will consist of prospecting and soil geochemical sampling which follows a 2-Phase airborne magnetometer survey carried out by Eagle Plains in late 2020 and early 2021. The survey outlined two prominent magnetic features within an area where high-grade gold mineralized float boulders were located during the summer of 2020. Permitting is underway for future diamond drilling, with program scope to be determined based on results from the current program. 2021 program work will be managed by TerraLogic Exploration Services of Cranbrook, BC.

See Dictator Project Location Map here

The Dictator Property is road-accessible and located within rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Dictator area has seen relatively little exploration activity by industry or government. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Dictator property.

See Dictator Regional Projects Map here

The Property consists of 6 tenures comprising 2578 ha overlying Jurassic-aged porphyritic intrusive rocks that are host to parallel gold-bearing veins that have seen limited past production at the Dictator and Morning occurrences. During a property inspection carried out by Eagle Plains personnel in Summer, 2020, grab samples from the Morning workings ranged from trace values to a high of 39.4 g/t gold and 912 g/t silver (sample TTLPR016*) and 1.31 g/t gold, 205 g/t silver, 1.88% lead, 5.03% zinc and 0.12% cadmium (sample TTLPR015*).

Prospecting in 2020 resulted in the discovery of numerous float boulders containing brecciated semi-massive sulphides that consistently contain highly elevated gold, lead and zinc mineralization with values ranging from trace quantities to a high of 5.84 g/t gold, 30.6 g/t Ag, 3680 ppm lead and 674 ppm zinc (sample TTLPR010*-float boulder). The source of the boulders is unknown and will be the focus of ongoing work. *Management cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Over the winter of 2020/2021, Eagle Plains carried out two airborne geophysical (magnetometer) surveys which outlined two prominent magnetic features which appear to be related to known mineralization and also correspond with the area within which mineralized float boulders were located.

See Dictator Airborne Geophysical Results Map here

Dictator Option

Eagle Plains holds the exclusive option with Aurum Vena Mineral Resources Corp. of Cherryville, BC, whereby EPL may earn up to a 100% interest in the Dictator (formerly Lightning Peak) Property. Under terms of the agreement, EPL will make exploration expenditures totalling $150,000, cash payments of $70,000 and share payments of 250,000 shares over a four-year period to earn its interest. A one percent net smelter return royalty will be reserved for the vendor, which may be purchased by Eagle Plains for $1M.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/651469/Eagle-Plains-Commences-Exploration-Activity-at-Dictator-Gold-Project-South-central-British-Columbia

Chart of the Week

– New Mexico’s oil production hit a record high in March 2021, averaging 1.16 mb/d, and natural gas output hit 6.19 Bcf/d.

– The March increases were the largest monthly increases on record (although some of the gains came from restarted wells that shuttered during the February blackouts).

– In 2020, New Mexico’s oil production rose by 133,000 bpd, or 15%.

Market Movers

• BP BP is aiming to enter offshore wind in Norway.

• Earthstone Energy ESTE announced that it has acquired working interests in Eagle Ford assets for $48 million in cash.

• Six oil majors are vying to partner with Qatar to develop the country’s natural gas fields and LNG projects. The list includes ExxonMobil XOM, Royal Dutch Shell RDS.A, Total Energies SE TOT, ConocoPhillips COP, Eni E, and Chevron CVX

Tuesday, June 15, 2021

Oil prices are up at the start of the week on growing demand optimism. “Oil prices really are in a positive June upswing as demand and supply are recovering in an unequal speed,” Rystad’s Louise Dickson said in a statement.

Oil prices hit 32-month high. Oil prices rose early on Monday, with the U.S. benchmark hitting a 32-month high and Brent rising above $73 per barrel as the market is growing increasingly bullish on-demand while the return of Iranian oil looks more distant than initially thought.

Shell considers selling Permian assets. Royal Dutch Shell RDS.A is considering a sale of its Permian assets, hoping to rase $10 billion. Shell’s Permian operations produced 193,000 barrels of oil equivalent per day in 2020, or about 6% of the company’s total output.

Shipping costs driving up prices. The skyrocketing costs of shipping are driving up prices for commodities across the globe. Shipping costs are up 547% relative to the seasonal average for the last five years.

Investors see green push leaving oil market short on supply. Bets from hedge funds and money managers are becoming more bullish, and analysts say that a growing number of investors see a supply shortage coming as a global push for energy transition leaves the world short on oil supply in the years ahead. “This is the basis for the next oil crisis,” Leigh Goehring, managing partner at commodities-focused investment firm Goehring & Rozencwajg Associates, told the WSJ. “We’re in uncharted territory.”

RBC: U.S. shale might be needed. RBC argues that OPEC+ may not have enough spare capacity to satiate the market next year, and more U.S. shale supply might be needed. “In the event that the U.S. remains status quo and does not grow next year, global stocks could be nearly 400 million barrels lower, from entry to exit in 2022,” wrote Michael Tran, commodity strategist at RBC Capital Markets. “Put another way, market balances only begin to reach a state of equilibrium if U.S. production grows by 1.2 million bpd next year. Anything short of that and balances will remain tight. And this comes after virtually all of OPEC+ spare capacity has returned to the market.”

G-7 call for end of coal finance. G-7 countries did not agree on a full phaseout of coal, but agreed to cut off government-backed financing for new coal projects that lack carbon capture. G-7 countries also agreed on a goal to cut emissions in half by 2030.

G-7 backs away from EV target. The G7 nations failed to set targets for EV sales in their push towards the electrification of transport at their latest meeting, pledging only to “intensify efforts in enhancing the offer of more sustainable transport modes”, the group said in its final communiqué today.

Nevada lithium project delayed. Lithium Americas Corp LAC delayed a highly-anticipated lithium mining project in Nevada while a court reviews whether the project was hastily approved during the Trump administration.

Commodity traders bet on Russian oil. Two commodity trading giants are betting big on a Russian oil project in a rare move that could make or break the oil traders’ fates – and oil market observers should be paying close attention.

Equinor ups renewables investment. Equinor EQNR outlined a strategy to ramp up renewables, setting a goal of having 50% of capex go to renewables by 2030, compared to 4% last year. It aims to have 12-16GW of renewables installed by that date. But the company declined to set declining targets for oil and gas production.

Natural gas prices shoot up. A heatwave in multiple parts of the U.S. has pushed up natural gas futures, with July Nymex contracts rising to $3.35/MMBtu.

Europe turns to coal as gas grows scarce. Coal use in Europe is up 10-15% this year due to cold weather and low natural gas inventories.

Lumber prices falling. Lumber prices staged a historic rally in recent months, but prices are now crashing, down by 42% since early May. “The rapid decline suggests a bubble that has burst and the question now is how low lumber prices will fall,” the Wall Street Journal wrote.

Related: Oil Markets Baffled As The IEA Calls For More Production

BofA: Exxon probably will raise its dividend. Bank of America believes shareholders who voted in favor of the board shake-up were likely focused on one thing: the dividend.

Japan bets on hydrogen. Japan is making a long-term bet on hydrogen, which critics view as unrealistic, but if it succeeds, could help build out a global supply chain.

Saudi Aramco borrows to fund its dividend. Saudi Aramco returned to the global debt market to raise cash despite higher oil prices, raising $6 billion in Islamic bonds. Aramco generated $18.3 billion in free cash flow in the first quarter, just short of the $18.75 billion in dividends it shelled out.

Biden administration looks to auction offshore wind tracts in NJ. The Biden administration on Friday announced that it would begin the formal process of selling leases to develop offshore wind farms in shallow waters between Long Island and New Jersey as part of its push to transition the nation to renewable energy.

Oil demand could surge by 8 mb/d. S&P Global Platts Analytics expects global oil demand to surge by 8.2 million b/d from May to August as major economies continue to recover from the pandemic.

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VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced that it continues to intersect high grade gold mineralization in Phase 2 of the North Block resource expansion drill program at the Brucejack Mine in British Columbia.

Following up on the success of the Phase 1 drill program (see news release dated February 25, 2021) Pretivm initiated a second phase of drilling to test the extension of the North Block Zone to the northwest. The Phase 2 program identified high-grade gold mineralization with five intersections assaying above 1,000 grams per tonne gold. Results include, drill hole VU-2933 which assayed 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold over 1.0 meter. In addition, drill hole VU-2932 assayed 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold over 1.0 meter. High grade gold mineralization was intercepted up to 450 meters from the current resource shell.

“These impressive results confirm high-grade gold mineralization in the North Block Zone and further extend the potential of the Valley of the Kings deposit at Brucejack,” said Jacques Perron, President and Chief Executive Officer of Pretivm. “Based on the success of the second phase, we have initiated a third and fourth phase of the drill program to further delineate the potential of the North Block Zone.”

The North Block Zone is located directly to the north of the Valley of the Kings deposit. The resource expansion exploration program is designed to test for Valley of the Kings style mineralization to the north and at depth. Phase 2 of the program was drilled from the 1150 and 1070 levels in the mine, targeting an area extending up to 450 meters north of the current resource shell. Phase 3 of the program will infill between the existing drill fans and the newly designed Phase 4 of the program will test an area immediately to the northwest of the current drilling.

North Block – Phase 2 Results

Phase 2 of the North Block resource expansion drill program comprised 22,964 meters in 83 drill holes. Drilling from the 1150 level intersected the extension of the Domain 13 Stockwork, which is currently being mined in the Valley of the Kings. Drilling from the 1070 level intersected the recently identified corridor of gold mineralization in the footwall of the Domain 13 structure. This corridor features coarse electrum in northwest oriented quartz-carbonate veins within a broader halo of lower grade gold mineralization.

For a plan and section view of the 2020 North Block Phase 2 program please see the following link: http://ml.globenewswire.com/Resource/Download/a0d0b719-e832-45c0-b1a2-c18be5099170.

Significant drill results are shown below:

• Hole VU-2933 intersected 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold and 4,900 grams per tonne silver over 1.0 meters.

• Hole VU-2932 intersected 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold and 3,400 grams per tonne silver over 1.0 meters.

• Hole VU-2962 intersected 191.6 grams per tonne gold over 14.0 meters, including 1,795 grams per tonne gold and 1,375 grams per tonne silver over 1.0 meters.

• Hole VU-2859 intersected 31.6 grams per tonne gold over 51.0 meters, including 1,515 grams per tonne gold over 1.0 meters.

• Hole VU-2967 intersected 61.7 grams per tonne gold over 17.5 meters, including 993 grams per tonne gold over 1.0 meters.

2021 Resource Expansion Drilling and Near-Mine Exploration Program

The resource expansion drill program is currently targeting the North Block Phase 3 and Phase 4 and the 1080 East Zone. In early July, two drills from underground will be repositioned to complete a 13,000-meter resource expansion drill program at Gossan Hill from surface. At the Bridge Zone, 11,000-meters of underground resource expansion drilling is expected to start in late August.

The near-mine exploration program is expected to start in mid-June with two additional drills on surface. The program will focus first on exploration targets at Shore Zone and SG Zone. Then, to follow up on the successful discovery of epithermal style gold mineralization at Hanging Glacier, a 10,000-meter drill program will be initiated in late July (see news release dated December 16, 2020).

In addition to drilling, the near-mine exploration program will include a UAV magnetic survey, MT and IP geophysical surveys, soil sampling and prospecting over the four-kilometer trend from Brucejack to Hanging Glacier.

Stephanie Wafforn, P.Geo., Pretivm’s Resource Manager is the Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for the Mineral Resource expansion drill program and the near-mine exploration program and has reviewed and approved the scientific and technical information in this news release related thereto.

Table 1: Selected North Block Phase 2 Results, June 2021 (VU-2762 to VU-2969)^(1,2)

⁽¹⁾ True thickness to be determined.
⁽²⁾ All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP-MS finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. ALS Chemex is independent of Pretivm.

About Pretivm

Pretivm is an intermediate gold producer with the high-grade gold underground Brucejack Mine.

For further information contact:

Troy Shultz
Manager, Investor Relations &
Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)

Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking information”), including the “safe harbour” provisions of Canadian provincial securities legislation and the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended. Wherever possible, words such as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “modeled”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information may include, but is not limited to: results, analyses and interpretations of exploration and drilling programs; our mining (including mining methods), expansion, exploration and development activities, including the reverse circulation drill program, our definition, sustaining, expansion and underground exploration drill programs and our grassroots exploration program, and the plans, specifications, targets, results, benefits, costs and timing thereof; expectations around grade of gold and silver production; Brucejack Mine production rate and gold recovery rate; our operational grade control program, including plans with respect to our infill drill program and our local grade control model; grade reconciliation, updated geological interpretation and mining initiatives with respect to the Brucejack Mine; our management, operational plans and strategy; capital, sustaining and operating cost estimates and timing thereof; the future price of gold and silver; our liquidity and the adequacy of our financial resources (including capital resources); our intentions with respect to our capital resources; capital allocation plans; the estimation of mineral resources and mineral resources including any updates thereto; parameters and assumptions used to estimate mineral resources and mineral resources; realization of mineral resource and mineral resource estimates; our estimated life of mine and life of mine plan for the Brucejack Mine; production and processing estimates and estimated rates; estimated economic results of the Brucejack Mine; predicted metallurgical recoveries for gold and silver; geological and mineralization interpretations; development of our Brucejack Mine and timing thereof; timelines and similar statements relating to the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; updates to our mineral resources and mineral resources and life of mine plan for the Brucejack Mine, and the anticipated effects and timing thereof; timing, receipt, and anticipated effects of, and anticipated capital costs in connection with, approvals, consents and permits under applicable legislation; the effects of the novel coronavirus (2019-nCoV) outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts, and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans including related protocols and procedures. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information including, without limitation, those related to: the effect of indebtedness on cash flow and business operations; the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; the effects of the COVID-19 outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans, including related protocols and procedures; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; our production, grade of gold, milling recovery, cash flow and cost estimates, including the accuracy thereof; commodity price fluctuations, including gold and silver price volatility; the accuracy of our Mineral Resource and Resource estimates (including with respect to size, grade and mining and milling recoverability) and the geological, operational costs and price assumptions on which they are based; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; our ability to maintain or increase our annual production of gold at the Brucejack Mine or discover, develop or acquire Mineral Resources for production; dependency on the Brucejack Mine for our future operating revenue; the development of our properties and expansion of our operations; our need or ability to raise enough capital to mine, develop, expand or complete further exploration programs on our mineral properties; our ability to generate operating revenues and cash flow in the future; failure of counterparties to perform their contractual obligations; general economic conditions; the inherent risks in the mining industry; the commercial viability of our current and any acquired mineral rights; availability of suitable infrastructure or damage to existing infrastructure; transportation, processing and refining risks; maintaining satisfactory labour relations with employees and contractors; significant governmental regulations, including environmental regulations; non-compliance with permits that are obtained or delay in obtaining or renewing, failure to obtain or renew permits required in the future; increased costs and restrictions on operations due to compliance with health, safety and environmental laws and regulations; compliance with emerging climate change regulation and the detrimental effects of climate change; potential opposition from non-governmental organizations; uncertainty regarding unsettled First Nations rights and title in British Columbia; maintaining our social license to operate; uncertainties related to title to our mineral properties and surface rights; land reclamation and mine closure requirements; our ability to identify and successfully integrate any material properties we acquire; currency exchange rate fluctuations; competition in the mining industry for properties, qualified personnel and management; our ability to attract and retain qualified management and personnel; potential inability to attract development partners or our ability to identify attractive acquisitions; compliance with foreign corrupt practices regulations and anti-bribery laws; changes to rules and regulations, including accounting practices; limitations in our insurance coverage and the ability to insure against certain risks; risks related to ensuring the security and safety of information systems, including cyber security risks; significant growth could place a strain on our management systems; share ownership by our significant shareholders and their ability to influence our operations and governance and, in case of sales of our shares by such significant shareholders, our share price; failure to comply with certain terms of the convertible notes; reputational risks; and certain actions under United States federal securities laws may be unenforceable. This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended. Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things: our business and operations and that no significant event will occur outside of our normal course of business and operations (other than as expressly set out herein); planned exploration, development and production activities and the results, costs and timing thereof; future price of gold and silver and other metal prices; the accuracy of our Mineral Resource and Mineral Resource estimates and related information, analyses and interpretations (including with respect to any updates or anticipated updates); the geology and mineralization of the Brucejack Project; operating conditions; capital and operating cost estimates; the results, costs and timing of future exploration and drilling; timelines and similar statements relating to the economic viability of the Brucejack Mine; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits; obtaining required renewals for existing approvals, consents, licenses and permits; the geopolitical, economic, permitting and legal climate that we operate in; the adequacy of our financial resources, and our ability to raise any necessary additional capital on reasonable terms; commodity prices; currency exchange rates and interest rates; political and regulatory stability; requirements under applicable laws; market competition; sustained labour stability and availability of equipment; positive relations with local groups; stability in financial capital markets; and the impact of the COVID-19 outbreak. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release. Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in our public disclosure documents as filed in Canada on SEDAR at www.sedar.com and in the United States through EDGAR at the Security and Exchange Commission’s (the “SEC”) website at www.sec.gov. Forward-looking information is not a guarantee of future performance. 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 information. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. For the reasons set forth above, readers should not place undue reliance on forward-looking information. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.

Figure 1

Location of the Avispa Exploration Property Area and major copper mines in northern Chile.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to announce the commencement of exploration of its 170 km² Avispa copper molybdenum exploration concessions (Avispa or the “property”) located in the Atacama Desert of northern Chile. The Avispa project is situated within the well-defined north to south trending late Paleocene to early Eocene Cu-Mo porphyry belt of northern Chile that hosts some giant operating porphyry copper mines. The property is located approximately 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine which are situated in this belt. Avispa is also 50 km west of Codelco’s Chuquicamata supergiant porphyry copper mine that occurs within the younger late Eocene – early Oligocene porphyry belt (Figure 1). The property is surrounded by major mining companies with exploration and mining concessions including; Codelco in the north and Freeport and Glencor to the south with Antofagasta and SQM to the east and west.

The prospective geology of the Avispa project is below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. These sediments are underlain by Paleocene volcanics and Cretaceous monzodiorite and diorite porphyries (Figure 1). The Avispa district was previously the target of some wide-spaced exploration drilling.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as world class operating copper molybdenum mines. The Avispa exploration program will be the first step in defining drill target areas to test for buried porphyry and porphyry-related copper molybdenum mineral deposits.”

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8736c3f-158a-4086-af95-cf29fd57cb02

Planned Exploration Program
Montero has completed a thorough investigation of historical information on exploration in this highly prospective area and aims to utilize cutting edge exploration technology with the objective of developing drilling targets. The Company has planned an exploration program that includes; geological mapping, surface sampling, ground, and airborne geophysical surveys.

Reconnaissance mapping has shown extensive areas of Tertiary evaporites with intercalated sediments that overlay older volcanic and intrusive rocks hosting the porphyry deposits in the area. The area will be initially mapped and prospected on a scale of 1:10,000. A rock chip and soil sampling program will be undertaken to help define geochemical signatures of any buried mineralization. Our geologists will also sample surface RC stockpiles that have been left next to RC drill holed left by previous companies that has drilled in the area. Geophysical work planned in the future will include airborne magnetics over selected areas of the property to define possible buried porphyry targets and controlling structural features. Targets will be prioritized for reverse circulation drill testing.

Previous companies to have explored Avispa include BHP that conducted limited drilling on the property at 2 km to 3 km spacing as part of a regional exploration program. Montero believes that there is potential for buried porphyry and porphyry-related deposits with smaller footprints than those sought by major companies.

Montero’s Chief Geologist, Marcial Vergara, has reviewed publicly available data on Avispa and has conducted a field visit. Marcial previously worked for Codelco and Anglo American, both major operating copper mining companies in Chile. Montero has adopted a prospect generator model at Avispa where it will de-risk the project and carry out limited exploration while seeking a partner to advance the project through the drill phase. This will provide Montero shareholders with exposure to the copper space while it continues to focus on the gold-silver potential of southern Chile.

Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. who are qualified persons for the purpose of National Instrument 43-101. Sr Vergara is based in Santiago and has more than 30 years’ experience in copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Selling pressure was muted in the Dow Jones Tuesday, but the Nasdaq composite was near session lows in afternoon trading. Oil and gas stocks outperformed.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) today announced the appointment of Ms. Danielle Giovenazzo, Ph.D, P.Geo, as a Director of the Company.

Based in Montreal, Quebec, Ms. Giovenazzo has over 35 years’ experience in exploration, principally for gold, Ni-Cu-PGEs, base metals and rare earth elements. In addition to her expertise in mineral exploration in Canada and internationally with a range of companies including Newmont-Goldcorp, Falconbridge and Xstrata Nickel, Ms. Giovenazzo brings significant management, project management, project generation and board experience to Wallbridge. Most recently, Ms. Giovenazzo was an independent director of SOQUEM, a subsidiary of Ressources Québec and leader in Quebec’s mineral exploration industry.

“Danielle’s expertise in mineral exploration and her leadership and experience within Quebec’s mineral industry will be a valuable addition to the Wallbridge board as we continue to advance exploration and the completion of the maiden mineral resource estimate at our Fenelon gold project and work to unlock the value of our Ni-Cu-PGE assets,” said Chair of the Board Alar Soever.

About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property which is located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company completed approximately 102,000 metres of drilling in 2020 and has begun a fully‒funded 2021 program of approximately 170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource on the Fenelon Gold System in the third quarter of 2021.

Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge's land holdings in Québec along the Detour‒Fenelon Gold Trend are over 900.0 km², improving Wallbridge's potential for further discoveries for over 90‒kilometre strike length in this under‒explored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.

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

For further information please visit the Company's website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com

This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.

Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward‒looking statements contained in this press release.

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

Dieppe, New Brunswick–(Newsfile Corp. – June 15, 2021) – Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that its partner, Tocvan Ventures Corp ("Tocvan"), has reported assay results from 4 holes drilled at the Pilar Gold & Silver Project ("Pilar") located in Sonora, Mexico. Tocvan is currently completing 3,500 metres ("m") of Reverse Circulation drilling in 20 holes comprising its Phase II program at Pilar. Previously released assay results from Phase II at Pilar include an intersection of 29 m at an average grade of 0.71 grams per tonne ("g/t") Au in hole hole JES-21-38.

A highlight of the current results includes an intersection of 0.66 g/t Au over an intersection length of 35.1 m in hole JES-21-43. "Hole JES-21-043 is a significant step out to the east and illustrates the potential of the Main Zone at Pilar. We continue to be very pleased by the work being completed by Tocvan and look forward to further assay results from the Phase II drill program" commented Company President and CEO Ron Goguen.

Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51% ownership of the Pilar Gold-Silver Project. For full details of the agreement see Colibri's news release dated September 24th, 2019. Description of the drill results released by Tocvan follows:

TOCVAN NEWS RELEASE:

Calgary, Alberta – June 15, 2021. Tocvan Ventures Corp. (CSE: TOC) ("Tocvan" or the "Corporation") is pleased to announce results for the next four drill holes from its Phase II drill program (the "Program") at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program is currently in progress with 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq). Thirteen (13) drill holes are pending assay results.

Drill Result Highlights

JES-21-43 (Figure 1)

• 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 meters

  • Including 13.7 meters at 1.7 g/t Au from 119 to 132.7 meters

  • Including 3.1 meters at 6.8 g/t Au and 7 g/t Ag from 119 to 122 meters

  • Also Including an upper elevated Ag zone, 7.6 meters at 17 g/t Ag from 97.6 to 105.2 meters

"JES-21-43 is a significant step-out to our Main Zone, 100-meters east of our Phase I drill hole JES-20-32", commented VP Exploration, Brodie Sutherland. "This not only expands the potential width of our Main Zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4-Trench Extension and the continuation of mineralization at depth."

Results Discussion

JES-21-40 – The hole was planned to test the Main Zone at depth and to the east. Drilling intersected a broad low grade zone from surface of 58m of 0.19 g/t Au. (see Table 1). Results from drill holes JES-20-33 (41.2m at 1.14 g/t Au) and JES-13-15 (34.5m at 1.27 g/t Au) through the same area of the Main Zone intersected higher grade, but were drilled from the opposite direction to JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure.

JES-21-41 – The hole was planned to test 50m down dip of drill hole JES-20-32, which returned 94.6m at 1.6 g/t Au. Several zones of anomalous gold were intersected including, 3m of 0.54 g/t AuEq, 4.6m of 0.43 g/t AuEq, 1.5m of 0.54 g/t AuEq and near the bottom of the hole from 199.8 to 212m, 12.2m of 0.28 g/t AuEq. The results from JES-21-43 suggest mineralization can widen with depth as the system dips to the east, stepping out to the east of this area remains a strong target for drill testing.

JES-21-42 – The hole was planned to test quartz veining and alteration recorded at surface along the 4-Trench Extension in a new corridor with little previous drilling. Anomalous gold was intersected, highlighted by 1.5m at 0.46 g/t Au and 5 g/t Ag.

JES-21-43 – The hole was planned to test the eastern extent of the Main Zone which correlates with a resistivity anomaly from the CSAMT survey. An oxide zone with quartz veinlets was recorded from 41m depth to 93m followed by several quartz veins in oxidized andesite from 93m to 130m. 35.1m at 0.66 g/t Au and 6 g/t Ag was drilled from 97.6m to 132.7m. The interval is significant as it is spatially 100m to the east of drill hole JES-20-32 and historic drill hole JES-18-19, both which returned grade above 0.75 g/t Au over wide intervals (see Figure 1).

Figure 1. Cross-Section of Drill Hole JES-21-43

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/87600_c3cb3a94c45dd8f1_001full.jpg

Figure 2. Planview Map of Phase II Drill Program Update.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/87600_c3cb3a94c45dd8f1_002full.jpg

Table 1. Summary of Drill Results

*Insufficient drilling has been undertaken to determine true widths. All widths reported are core length. Gold equivalent ("AuEq") is calculated using metal prices of $1,700/oz gold and $18/oz silver.

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below:

• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

  • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;

  • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag

• 17,700m of Historic Core & RC drilling. Highlights include:

  • 61.0m @ 0.8 g/t Au

  • 16.5m @ 53.5g/t Au and 53 g/t Ag

  • 13.0m @ 9.6 g/t Au

  • 9.0m @ 10.2 g/t Au and 46 g/t Ag

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

Quality Assurance / Quality Control

RC chips were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.

ABOUT COLIBRI RESOURCE CORPORATION:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed or planned for 2021. The flagship Evelyn Gold Project is 100% owned and explored by Colibri. The Company has four additional projects, Pilar Gold & Silver Project (optioned to Tocvan Ventures- CSE:TOC), El Mezquite Gold & Silver Project , Jackie Gold & Silver Project, and the Diamante Gold & Silver Project (earn-in agreements with Silver Spruce Resources – TSX.V-SSE) are also currently being actively advanced.

For more information about all Company projects please visit: www.colibriresource.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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes 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 the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

For further information:

Ronald J. Goguen, President, Chairperson and Director
Tel: (506) 383-4274
rongoguen@colibriresource.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87600

A group of uranium mining companies saw their stock prices plunge after a performance issue was flagged at a Chinese nuclear power plant. The reaction seems overdone.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF) (the "Company" or “MacDonald Mines”) announces the results of its 2021 Annual and Special Meeting of Shareholders (the “Meeting”) held earlier today in a virtual format due to the ongoing COVID-19 pandemic.

At the Meeting, all resolutions were passed with the required majorities:

• The shareholders elected Stuart Adair, Mia Boiridy, Amanda Fullerton, Kevin Tanas and Quentin Yarie to be duly elected as directors of the Company until the close of the next annual meeting of shareholders of the Company;

• The shareholders approved a resolution to re-appoint MNP LLP, Chartered Accountants, as auditors of the Company to hold office until the next annual meeting of shareholders, and to authorize the directors to fix their remuneration;

• The shareholders approved a resolution re-approving the Company’s stock option plan; and

• The shareholders approved a resolution to change of name of the Company to “Constellation Gold Corp.” or such other name as determined by the Board and as may be acceptable to the regulatory authorities.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario, that trades on the TSX Venture Exchange under the symbol "BMK". The Company is focused on developing its 100%-owned SPJ Project in Northern Ontario. The SPJ Project is a 18,930 ha property prospective for gold which encompasses the past-producing Scadding Gold Mine with gold/polymetallic mineralization over several kilometres around it.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

For more information, please contact:

Mia Boiridy, President & CEO, (250) 575-3305, mboiridy@macdonaldmines.com

• Activist nominees have refused to provide clarity as to whether they will act in the best interest Fancamp and its shareholders, and do what is required to hold Mr. Smith accountable for the over $60 million he wasted for over 30 years.

• Open letter with simple questions provides Messrs. James Hunter, Louis Doyle, Mark Fekete, Mathieu Stephens and Greg Ferron opportunity to be transparent with YOU, all Fancamp shareholders, before you vote.

• Strongly recommends shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified and governance-focused director nominees by 1:00 p.m. ET on Friday, June 25, 2021.

• Shareholders with questions on voting should contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com. Shareholders can get the latest information at fancamp.ca/thefutureisbright.

VANCOUVER, British Columbia, Jun 15, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange:FNC) today released the following open letter to Mr. Peter H. Smith’s director nominees (the "Smith Nominees").

AN OPEN LETTER TO THE SMITH ACTIVIST NOMINEES

To Messrs. James Hunter, Louis Doyle, Mark Fekete, Mathieu Stephens and Greg Ferron:

Before shareholders cast their vote at the upcoming annual general meeting on Tuesday, June 25, 2021, Fancamp believes it is critical for shareholders to know where you stand. We had previously written to your lawyers asking for you to provide clarity on these and other matters, but were rebuffed.

Each of you has an obligation to let shareholders know where you stand. As you are all well aware of your fiduciary duties and accountability to Fancamp and all of its shareholders, we can only assume that the decision to avoid providing any substantive responses was at the recommendation of your lawyer or Mr. Smith. However, now is not the time to avoid accountability. It is time to tell shareholders what you will do to enhance accountability.

We assume you, like us, recognize the double-standard in saying you cannot comment on these matters until elected, while at the same time already committing to cancel the ScoZinc transaction before you are elected. There is so much you do not know and yet you are already prepared to make an uninformed decision on the transaction. This should not give Fancamp shareholders any confidence in your ability to act as fiduciaries of the Corporation.

We assume you have been as surprised as shareholders to learn about Mr. Smith’s 30 years of misconduct and financial mismanagement we have uncovered over the last few weeks, and would not have agreed to join his slate given the negative impact Mr. Smith’s actions will have on your reputations.

As you know, under corporate law, a director has a duty to act honestly and in good faith, with a view to the best interests of the Corporation. With that in mind, and on behalf of shareholders, Fancamp would like each of the Smith Nominees to answer the following six questions:

1. Do you think it is appropriate that a shareholder who invested $100 when Mr. Smith first started is now left with only $40 – less than half? With 30 years of wasted money and missed opportunities, why should shareholders believe Mr. Smith’s next 90-day agenda will be any different?
For over 30 years, Mr. Smith was at the helm of Fancamp, holding positions such as a Chairman, Director and CEO. During that time, his cumulative total shareholder return was –59.4% and no discoveries were ever made. Mr. Smith took numerous actions that were detrimental to Fancamp and hidden from the Board, resulting in significant losses that are his sole responsibility.

2. Given Mr. Smith’s poor track record, why do you believe Mr. Smith should not be removed from the Corporation?
The current Board held Mr. Smith accountable for his value-destroying actions and asked him to step down as president and CEO in August 2020; then, in April 2021, the Board terminated his consulting agreement for cause due to his numerous and ongoing misconduct. Knowing what you now know, how is it in the best interest of the Corporation to reinstate Mr. Smith?

3. Do you believe that a Director and executive personally storing and withholding company information from the Corporation is appropriate? As fiduciaries, would you issue a public statement asking Mr. Smith to hand over all materials? Have you asked Smith if he is hiding anything?
Materials such as technical and financial information on Fancamp’s mining properties, banking information, and contractual obligations and agreements are all critical for the Corporation to move forward and to provide transparency to shareholders. Instead, Mr. Smith has forced Fancamp to file a costly and time-consuming application for a court order to obtain its own documents. Fancamp strongly believes Mr. Smith is refusing to provide this information to avoid accountability. What is he hiding? Have you asked him this question?

4. Are you aware that Mr. Smith has failed to comply with applicable securities and corporate laws, including releasing confidential non-public materials? Have you asked Mr. Smith on behalf of the shareholders you seek to represent for assurance that he will not do it again? Mr. Smith does not appear to believe that he should be bound by his duty of confidentiality or contractual obligations – were you aware of this, and now that you are, are you OK with this?
On December 22, 2020, Mr. Smith blatantly and recklessly disclosed confidential information of the Corporation by issuing a public statement regarding the details of a Board meeting as well as a private placement that had been approved by the Board, but not yet announced. Mr. Smith’s unlawful disclosure may have jeopardized the integrity of the capital markets and affected the market price or trading of Fancamp’s securities. On April 7, 2021, Mr. Smith once again breached his fiduciary duty by disclosing a distorted version of confidential information regarding the Ernst & Young LLP ("Ernst & Young") fairness opinion ("Opinion") on the ScoZinc transaction. The agreement between Ernst & Young and Fancamp specifically stated that the Opinion may not be disclosed in public filings. Mr. Smith clearly did not feel bound by his duty of confidentiality or his contractual obligations. Were you aware of this when you agreed to serve on Mr. Smith’s slate, and now that you are, are you OK with this?

5. Will you support Mr. Smith when he asks shareholders to repay and reimburse him personally for his costly and time-consuming proxy fight that he launched to take back control of the Corporation he considers to be his personal property, and ask him to commit in writing not to do so, as well as confirm you will not seek to reinstate the consulting agreement Mr. Smith was terminated from with cause?
Mr. Smith has used the ScoZinc transaction as his excuse for launching a proxy fight – a very expensive way to try to get his job back for which he was terminated FOR CAUSE. The truth is Mr. Smith launched this costly and unnecessary proxy fight in October 2020 – months before the ScoZinc transaction was announced.

6. Given what you know now about Mr. Smith’s checkered past and the $60 million in wasted money and failed discoveries, would you have agreed to personally align yourself with him?
For over 30 years, Mr. Smith was at the helm of Fancamp. In that time, Mr. Smith treated the Corporation as his personal property and bank account, made no discoveries, operated in secret, defied the Board, and destroyed shareholder value. Since his departure in August 2020, Mr. Smith has breached his fiduciary duty and hid critical information to stop the Corporation from moving forward. Do you really want to link your professional reputations to this man?

The shareholders we have spoken to are shocked that each of you would risk your professional reputations to work with someone who is under a formal forensic investigation and is currently being sued for over $3 million in damages. As we have stated before, the investigation is ongoing, and we have strong reason to believe there is much more to come on Mr. Smith.

On behalf of all of Fancamp’s shareholders, we look forward to hearing from you as soon as possible.

Sincerely,
Fancamp Exploration Ltd.

See Fancamp’s Plan in Action
In contrast to Mr. Smith’s history of value destruction and wasted money, Fancamp has an action-oriented, three-pronged growth strategy to enhance shareholder value and increase returns. Watch here: fancamp.ca/thefutureisbright.

VOTE YOUR GOLD PROXY TODAY – Deadline: Friday, June 25, 2021 at 1:00 p.m. ET
Voting is fast and easy – please vote well in advance of the deadline. If you have any questions or need help voting, contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

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

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

Forward-looking Statements
This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, information and statements relating to the Corporation’s annual general meeting, and objectives, goals or future plans. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but there can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615006148/en/

Contacts

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

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

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

VANCOUVER, BC, June 15, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Philippine Metals Inc.

TSX-Venture Symbol: PHI

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 4:07 PM

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/June2021/15/c4579.html

Drilling program planned later this year to test targets east of the NICO Deposit

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, Ontario, Jun 15, 2021–(BUSINESS WIRE)–Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to announce that it has closed a private placement offering of units, consisting of one common share of the Company and one-half of one warrant. A total of 3,871,426 units were issued at a price of C$0.14 per unit providing the Company with gross proceeds of C$541,999.64. Each whole warrant entitles the holder to purchase one common share at a price of $0.20 for a period of 18 months from closing.

Fortune is also pleased to report that it has been awarded a grant of $144,000 from the Government of the Northwest Territories through the Mining Incentive Program. These funds will be used to support the drill program planned at the NICO Cobalt-Gold-Bismuth-Copper Project ("NICO Project") site later this year, testing five high priority targets east of the NICO Deposit.

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The NICO Project is an advanced Canadian Critical Minerals project and one of the few near-term development stage cobalt assets in the world outside of the Democratic Republic of the Congo. NICO is comprised of planned open pit and underground mine and mill, located approximately 160 km northwest of Yellowknife, Northwest Territories, and a related hydrometallurgical refinery in southern Canada to treat concentrates from the mine and produce cobalt sulphate, gold doré, bismuth ingot and oxide, and copper precipitate. The NICO Project has been assessed in a positive Feasibility Study in 2014 and the facilities in the Northwest Territories have received environmental assessment approval and secured the major mine permits. The NICO Deposit contains Proven and Probable Open Pit and Underground Mineral Reserves totaling 33 million tonnes containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. The NICO Deposit stands out among other Critical Mineral and cobalt development projects globally with more than one million ounce in-situ gold as a highly liquid and countercyclical co-product.

This press release shall not constitute an offer to sell or 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. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune who is a "Qualified Person" under National Instrument 43-101.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories. The Company has an option to purchase lands in Saskatchewan where it may build the hydrometallurgical plant to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life of the NICO Project mill.

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Click here to subscribe to Fortune’s email list.

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@FortuneMineral on Twitter.

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the potential for expansion of the NICO Deposit, the Company’s plans to conduct a drill program during 2021, the Company’s plans to develop the NICO Project and the potential for the Sue-Dianne property to provide incremental mill feed to the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company’s ability to conduct and complete the planned drill program; the Company’s ability to secure a site in southern Canada for the construction of a NICO Project refinery; the Company’s ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is 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. These factors include the risks that further exploration of the areas identified in this press release may not result in a meaningful expansion of the NICO Deposit, the Company will require additional financing to complete the planned drill program and such financing may not be available, the COVID-19 pandemic may interfere with the Company’s ability to conduct the drill program, the NICO Project may not receive the benefit of any financing under the published initiatives of the United States and European Union with respect to critical minerals or any other benefits therefrom, the Company may not be able to secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company’s production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005665/en/

Contacts

Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

TORONTO, June 15, 2021 /PRNewswire/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has entered into a binding agreement (the "Agreement") to acquire 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU") from UEX Corporation ("UEX"), for cash consideration of $20.5 million, following UEX's expected acquisition of JCU from Overseas Uranium Resources Development Co., Ltd. ("OURD"). View PDF Version

UEX has entered into an amended purchase agreement with OURD ("OURD Agreement") to acquire 100% ownership of JCU, a wholly owned subsidiary of OURD, for cash consideration of $41 million (see UEX press release dated June 15, 2021).

JCU holds a portfolio of twelve uranium project joint venture interests in Canada, including a 10% interest in Denison's 90% owned Wheeler River project, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).

David Cates, President and CEO, stated: "Denison welcomes this new partnership with UEX. We are pleased with the acquisition terms for this unique and valuable portfolio of strategic Canadian uranium interests, which have been meticulously accumulated by JCU over prior decades. Following this acquisition, Denison will not only increase its indirect ownership of the Company's flagship Wheeler River project, but will also expand its asset base to include additional important Canadian uranium development projects such as Millennium and Kiggavik."

The key terms of the Agreement are outlined below:

• Denison agrees to provide UEX with an interest-free three-month term loan of up to $41 million (the "Term Loan") to facilitate UEX's payment of the $41 million purchase price to OURD for the purchase of 100% of the shares of JCU pursuant to the OURD Agreement.

• $20.5 million of the amount drawn under the Term Loan will be deemed repaid to Denison by UEX on the transfer of 50% of the JCU shares to Denison immediately following the closing of the OURD Agreement and the acquisition of the JCU shares by UEX.

• UEX may extend the Term Loan by an additional three months, in which case interest will be charged at a rate of 4% from the date of the initial advance under the Term Loan until maturity.

• All of the shares of JCU owned by UEX will be held by Denison as security against the Term Loan pursuant to a pledge agreement until the Term Loan is repaid in full.

• The Term Loan is subject to certain customary terms and conditions and contains standard events of default that protect Denison.

• Denison and UEX agree to enter into a shareholders' agreement governing the relationship of Denison and UEX with respect to the future management of JCU ("Shareholders' Agreement").

• The Shareholders' Agreement shall include various provisions regarding future funding and dilution, as well as resolution of deadlock situations and protections of minority interests in relation to specific business matters that will require 66.67% or unanimous support from then JCU shareholders.

• The Agreement is subject to certain conditions precedent, including the completion of the acquisition of the JCU shares by UEX, pursuant to the OURD Agreement.

• Should the OURD Agreement be terminated, each of Denison and UEX have agreed to provide the other party with the opportunity to participate on a 50/50 basis in subsequent offers made in relation to an alternative acquisition of JCU.

• UEX and Denison have certain termination rights, including those in favour of Denison if the OURD Agreement is not completed by September 30, 2021.

The OURD Agreement, and the completion of the JCU acquisition by UEX pursuant thereto, remains subject to approval at a meeting of the shareholders of OURD, which is expected to occur in Tokyo on June 18, 2021. If the shareholders of OURD approve the OURD Agreement, the transaction is expected to close on or before August 3, 2021.

Denison's previously announced offer to acquire 100% of JCU from OURD (see press release dated May 4, 2021) has been withdrawn.

Haywood Securities Inc. and RCI Capital Group are acting as financial advisors, and Blake, Cassels & Graydon LLP is acting as legal counsel to Denison.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company's flagship project is the 90% owned Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest Main, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the terms of the Agreement and the OURD Agreement, including the conditions and other rights and obligations of the parties and the expectation that UEX, OURD and Denison will be able to complete the transactions described herein and therein; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the conditions to the transactions, including the approval of OURD shareholders, may not be satisfied or the parties may negotiate terms materially different than disclosed herein. Denison believes that the expectations reflected in this forward-looking information are reasonable and no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in the Annual Information Form dated March 26, 2021 under the heading "Risk Factors". These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

View original content to download multimedia:http://www.prnewswire.com/news-releases/denison-announces-agreement-to-acquire-50-of-jcu-canada-exploration-company-limited-from-uex-corporation-for-20-5-million-301312299.html

SOURCE Denison Mines Corp.