Dieppe, New Brunswick–(Newsfile Corp. – June 3, 2021) – Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that option partner Silver Spruce Resources Inc. ("Silver Spruce") will be starting its planned Phase 1 Reverse Circulation ("RC") drill program on the Companies El Mezquite Au-Ag Property ("El Mezquite") today, June 3, 2021. This is the first-ever drilling at El Mezquite.

"Colibri is very excited for this inaugural drilling program at El Mezquite. We feel that this project has potential to build a great deal of shareholder value for both Colibri and our partner. We expect lots of news about progress on several projects in the near term. In addition to our two partners making tremendous strides at our Pilar, El Mezquite, and Jackie gold and silver projects, the 3D Induced program at Evelyn Gold Project is wrapping up this week. Upon receipt of the final reports and models, Colibri will be planning drill targets and moving towards a fully financed drilling campaign at our flagship Evelyn property in the near term," says Ron Goguen, President & CEO of Colibri.

Illustration 1: Photo of Dozer and drill rig preparing for work at El Mezquite on June 2, 2021

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Phase 1 drilling planned by Silver Spruce will consist of a minimum of 2,000 metres ("m") of RC drilling to be completed from 8 drill pads covering an area of approximately 600m x 400m. The area to be tested is contained within a larger area of alteration and anomalous Au and Ag samples collected historically by Colibri and more recently, under the terms of an option agreement, by Silver Spruce. Historical sampling by the Company at El Mezquite has returned a high value of 3.41 grams per tonne ("g/t") Au and 387 g/t Ag. Recent exploration completed by Silver Spruce has continued geological mapping and outcrop sampling on the Property and has also included multi-element geochemistry, hyperspectral analyses, and a LiDAR survey. Collectively, the exploration work to date at El Mezquite has outlined an area of Epithermal Low-Sulphidation type alteration with a footprint of approximately 1,200 m x 600 m. The Phase 1 drill program being executed has been planned to test northeast-southwest trending structures defined by geological mapping and sampling and supplemented by lineament analyses and to test the results of an Induced Polarization survey previously completed by the Company.

About El Mezquite Property

The El Mezquite Property is located within a belt of Epithermal Au-Au mineralization hosted by the Sierra Madre Occidental Volcanic Complex. Major gold mining operations in the area of El Mezquite include Alamos Golds' Los Mulatos Mine and Agnico Eagles' El India and Pinos Altos Mines. The 180 hectare El Mezquite Property is located approximately 170 km southeast of Sonora state capital Hermosillo and approximately 10 km northwest of the town of Tepoca. The property is accessed directly from Sonora state Highway 16.

Mezquite Property Agreement

On June 9, 2020 Colibri signed a definitive agreement with Silver Spruce for the Mezquite property. The principal terms to purchase 50% interest in the property include US$210,000 in cash payments over 12 months, specifically US$82,500 by September 1, 2020 (paid), US$127,500 by September 1, 2021 and a promissory note to the Colibri for $500,000 for a debenture due in October 2023. Upon full payment, Colibri and Silver Spruce propose to complete a 50:50 Joint Venture Agreement to own and operate the property. Minimum work expenditures total $600,000 over the four-year term of the Agreement by September 1, 2024, with no specific annual requirements. During the period of the Option, Silver Spruce will be responsible for 100% payment of the surface rights agreements when exploration is active, 50% of the property taxes and 50% of the interest due at 2.5% annually on the debenture. The underlying agreement with the original vendors contains a 1% percent Net Smelter Return royalty which can be purchased by Colibri at any time for $500,000.

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 – (TSXV: 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/86402

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

REGINA, SK / ACCESSWIRE / June 3, 2021 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce that it has closed on its previously announced acquisition (the "Acquisition") of certain operated producing oil and gas assets (the "Asset") in Southern Saskatchewan (along with associated land leases, a facility, and related assets) pursuant to the Company's March 17, 2021 press release. The Acquisition has an effective date of April 1, 2021.

ROK has completed the remainder of the financing pursuant to a previously announced private placement for an additional $410,000 (the "Subsequent Placement") for an aggregate amount of $2,200,000 (the "Private Placement"), whereby a total of 11,000,000 units (each a "Unit") of the Company were issued at a price of $0.20 per Unit. Each Unit consists of one Class B common share in the capital of the Company (each a "Common Share") and one half of one Common Share purchase warrant (each full warrant, a "Warrant"). Each Warrant will be exercisable for one Common Share at an exercise price of $0.35 per Warrant for a period of 2 years. The Common Shares to be issued pursuant to this Private Placement will be subject to a four-month trading restriction, expiring on October 2, 2021. After the previously announced acquisitions and the final closing of the Private Placement, the Company will have 74,471,576 total Common Shares issued and outstanding. Proceeds from the Private Placement were used to satisfy the purchase price for the previously announced acquisitions as well as general corporate purposes. No commissions were paid to brokers or finders for the Subsequent Placement.

Further, the Company is pleased to announce that it has completed its first closing of $2,600,000 consisting of senior secured notes of the Company ("Notes"), with each Note consisting of a principal amount of $1,000 and with interest payable thereon at a rate of 14% per annum and with a term of three years from the date of issuance thereof (the "Note Financing" and, along with the Private Placement, the "Offering"), but with the ability of the Company to fully repay the Notes at no penalty after two years from the date of issuance, or the Noteholders can demand repayment after two years from the date of issuance. Payments of interest only will be made during the first year of the term of the Notes and blended payments of interest and principal will be made during the second and third year of the term of the Notes. The Notes are secured by all of the assets of the Company and are senior to all other indebtedness of the Company.

In addition, 500 Common Share purchase warrants (each a "Note Warrant") were issued to participants in the Note Financing for each $1,000 principal amount of Notes purchased, with each Note Warrant being exercisable for one Common Share at an exercise price of $0.35 per Note Warrant for a period of 2 years. The Note Financing is non-brokered. The Notes and Note Warrants were offered pursuant to the accredited investor and family, friends and business associates exemptions of National Instrument 45-106 – Prospectus Exemptions.

A second closing of the Note Financing is expected to occur no later than July 2021 to complete the remainder of the financing.

About ROK

ROK is engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and common shares of the Company are traded on the TSX Venture Exchange under the trading symbol "ROK".

For further information, please contact:

Cameron Taylor, Chairman and CEO

Lynn Chapman, CFO
Phone: (306) 522-0011
Email: info@rokresources.ca

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals or future plans with respect to pursuing the Offerings, and the expectations regarding the receipt of regulatory approval for the Offerings as well as the intended use of proceeds from the Offerings and the anticipated timing of future closings under the Offerings, and the timing and terms of payment and exercise of the Notes, Warrants and Note Warrants. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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

SOURCE: ROK Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/650205/ROK-Resources-Announces-Closing-of-Previously-Announced-Asset-Acquisition-a-Fully-Subscribed-Private-Placement-and-First-Closing-of-the-Note-Financing

• SkyTEM airborne geophysical survey in June/July.

• Further geological investigation of copper and gold values from previous surface samples.

• Follow up fieldwork, including vectoring for potential drill targets.

Vancouver, British Columbia–(Newsfile Corp. – June 3, 2021) – Mountain Boy Minerals Ltd. (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA) ("Mountain Boy" or the "Company") is pleased to report that a SkyTEM airborne geophysical survey over the Southmore Project is scheduled to begin within the next few weeks. Following the geophysical program, a field program is planned to ground truth geophysical results and expand on the current exploration results with the intention of developing future drill targets.

The 5,038-hectare Southmore property is located in the Golden Triangle of British Columbia, 30 km southeast of Teck Resources Ltd.'s Galore Creek deposit. The completed portion of the Galore Creek access road is within 12 km of the Southmore Project. Southmore is also located between Enduro's Newmont Lake property to the south and directly south of Sassy Resources ("Sassy") Foremore property.

Five documented northeast trends on Sassy's Foremore property, including the More Creek Corridor trend that hosts the Westmore discovery, track onto the Southmore project. Sassy has demonstrated high-grade gold and silver mineralization associated with the Westmore intrusive at Foremore, now believed to be Early Jurassic in age. This age of this grassroots discovery is similar with other Jurassic-aged gold deposits in the Golden Triangle (Sassy NR May 10^th 2021). Mineralization intersected in diamond drilling includes a 0.80-meter interval that assayed 26.5 g/t Au, 85 g/t Ag, 8.6% Zn, 2.2% Cu and 1.28% Pb (drill hole FM04-32 – refer to December 17, 2020 news release).

Southmore Project Map

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/5332/86230_2c8e02c9e416289e_001full.jpg

Numerous styles of mineralization have been noted on the Southmore property including porphyry, skarn, VHMS and epithermal mineralization. The 2019 field program confirmed the encouraging results of exploration work conducted in 1990's. The 2020 field program identified several structurally controlled domains, as well as new areas with copper and gold mineralization. A small talus fines geochemistry program was also conducted on the property and two multi-element anomalies were identified. Mountain Boy's geological team has identified several compelling targets.

Building on the success of the last two field programs, the SkyTEM geophysical survey will be the initial component of this year's exploration program. The electromagnetic and magnetic data collected will give the Company insights into the lithological contacts, property scale structures, geology and potential zones of mineralization. Mountain Boy anticipates that geophysical anomalies and domains will help in mapping out potential drill targets. The survey will be followed up with continued prospecting, geological mapping as well as talus fines, rock and channel sampling.

Highlights of 2020 Surface Sample Results on Southmore (from ** news release)

Lucia Theny, VP exploration, comments, "The geophysical survey will help to understand the complex geology of this property, which exhibits a variety of mineralizing styles. With that additional information, we will conduct further field work, leading to determination of drill targets."

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

About Mountain Boy Minerals

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

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

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

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

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

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

6. The Telegraph project, covering 23,600 hectares, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle.

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

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

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

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

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

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86230

VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) — North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or “the Company”) is pleased to announce mobilization is underway for an exploration drill program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories.

The program will utilize a Hornet reverse circulation (RC) drill to test recently defined gravity targets in the north Loki area (see North Arrow news release dated March 9, 2021). The targets represent potential bedrock kimberlite sources for a regional kimberlite indicator mineral anomaly that terminates on the Loki property and forms part of what has historically been known as the South Coppermine Train. The Hornet drill is expected to be mobilized to the property over the next couple of days and drilling is planned to run for approximately 10 to 14 days.

North Arrow also announces that, pursuant to North Arrow’s Stock Option Plan, the company has granted a total of 1,025,000 incentive stock options to directors, officers, employees and consultants to the Company. The stock options are exercisable to acquire one common share of North Arrow at $0.12 per share and can be exercised until June 3, 2026.

About the Loki project

The Loki Project is located approximately 40 km west, and 35 km southwest of the Diavik and Ekati diamond mines, respectively, and immediately west of North Arrow’s LDG Joint Venture Diamond Project with Arctic Canadian Diamond Company. Five kimberlites have been discovered within the project area, all of which have been confirmed as diamond bearing. The ground geophysical surveys on which the current drill program is based were supported, in part, by a grant from the Northwest Territories Mining Incentive Program.

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.

Edmonton, Alberta–(Newsfile Corp. – June 3, 2021) – Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) ("Grizzly" or the "Company") is pleased to announce that planning has commenced to evaluate the 18 high-priority conductivity anomalies that have been identified at its Robocop Property following analysis of the recent 400 line-km Versatile Time Domain Electromagnetic ("VTEM™") and magnetic survey data (Figure 1 below). Grizzly is planning field work to commence in June 2021 over the high-priority anomalies. The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the "Property"), near the hamlets of Grasmere and Roosville.

Brian Testo, CEO of Grizzly, commented, "We are excited to continue to progress the prospects at our Robocop property with field work commencing in June, which will be followed by planned drilling later this year. The geophysical anomalies will be drill tested following additional fieldwork to identify drill-collar locations. The Robocop geology and anomalies have potential for world-class copper-cobalt discoveries in a road accessible area offering significant logistical advantages."

In consultation with Mr. Martin St. Pierre, P. Geophysicist, of St. Pierre Geoconsultant Inc., the company is developing plans for an Induced Polarization (IP) survey and follow-up geochemical surveys to test a number of high and secondary priority geophysical anomalies identified in the vicinity of the "Discovery Area" (See Figure 2 below). In particular, IP surveys to cover anomalies 14-3, 15-3 and 16-3 in the vicinity of the Discovery Area, which has provided historical anomalous core intersections of up to 0.134% cobalt (Co), 1.19% copper (Cu) and 33.8 g/t silver (Ag) over 1.23 m, are being planned for execution in the upcoming program.

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

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4488/86310_2f5a5b5a242a1a33_002full.jpg

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

Fig 2. EM anomalies (including high priority anomalies 13-3, 14-3, 15-3 & 16-3 as white stars) on a map of conductance for S Field (dB/dt) with Cu in rocks & soils.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4488/86310_2f5a5b5a242a1a33_003full.jpg

Figure 3 below shows a conductivity time channel profile of EM anomaly 16-3 and its relationship to the local total field magnetics in the vicinity of the Discovery Area. The anomaly shows up well in the mid to later time channels, suggesting it is buried. This anomaly may be topographically below the mineralization identified at the Discovery Area and may represent a separate target or a feeder target. The anomaly warrants follow-up exploration including ground geophysics and drill testing. Ground methods including additional geochemical sampling and ground geophysical methods will assist in refining the geological model of the Property and to target conductive portions of the assemblage, potentially those portions associated with both stratigraphic and vertical structural anomalies, and in particular those that might be associated with sulphide minerals and Co-Cu-Ag mineralization, in advance of a planned 2021 drilling campaign.

Fig 3. EM anomaly 16-3 in profile showing SFz (dB/dt) conductivity in the mid to late time channels(as well as a positive B Field) shown on a map of the total field magnetics.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4488/86310_2f5a5b5a242a1a33_004full.jpg

Further integration of the geophysical interpretation with the geological model is ongoing and is required prior to commencing additional ground work. The additional work will include plate and/or inversion modelling along with an integrated structural and 3D model of the combined EM and magnetic data. The results of this work will be released as they become available.

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

HIGHLIGHTS FOR THE ROBOCOP PROPERTY

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

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

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

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

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

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

GRIZZLY CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Grizzly is pleased to announce that, on June 2, 2021, it closed on the first tranche of a private placement (the "Offering"), announced on May 17, 2021, by the issuance of 300,000 Units (as defined below) and 3,008,466 FT Units at a price of $0.06 per Unit and per FT Unit for gross proceeds of $198,508. The Offering remains open and the Company may close on additional subscriptions for the remaining 1,991,534 FT Units and 2,200,000 Units under the initial terms of the Offering.

Under the terms of the Offering, each Unit consists of one common share of the Company ("Common Share") and one non-transferable warrant ("Warrant"). Each FT Unit consists of one Common Share issued as a flow through share for the purposes of the Income Tax Act (Canada) and one half of one Warrant. Each whole Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.085 per Common Share until the earlier of: (a) 30 days following the issuance of a news release by the Company that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than $0.10 per Common Share for 10 consecutive trading days; and (b) June 2, 2023.

The Company intends to use the proceeds from the Units for general working capital, and the proceeds from the Units and FT Units on exploration of its Greenwood and Robocop mineral projects in British Columbia.

In connection with the Offering, the Company paid cash finder's fees totaling $6,150 and issued 102,504 Finder Warrants (with the same terms and expiry date as the Warrants) to registered dealers. The Common Shares and any Common Shares issued on exercise of the Warrants and Finder Warrants will be subject to restrictions on trading until October 3, 2021 in accordance with the policies of the TSX Venture Exchange.

Following closing of this first tranche of the Offering, the Company has 94,660,180 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.

Directors, management and insiders subscribed for an aggregate of 1,100,000 FT Units representing gross proceeds of $66,000. The purchase of such FT Units is considered to be a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"),but is exempted from the requirements to obtain a formal valuation and to obtain minority approval, as the purchase of securities does not exceed 25% of the Company's market capitalization. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101.

The Company did not file a material change report more than 21 days before the expected closing of the Financing because the details of the participation therein by related parties of the Company were not settled until shortly prior to closing of the Financing and the Company wished to close on an expedited basis for business reasons.

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

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, with 90 million shares issued, focused on developing its over 160,000 acres of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

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

For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604 347 9535
Email: cbeltgens@grizzlydiscoveries.com

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

Caution concerning forward-looking information

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86310

BEDFORD, NS / ACCESSWIRE / June 3, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE) (FRA:S6Q1) is very pleased to announce the commencement of Phase 1 exploration drilling by Layne de Mexico at the El Mezquite Au-Ag property ("El Mezquite" or the "Property").

The first-ever drilling program at El Mezquite should be completed by July with samples submitted to ALS Global in Hermosillo on a weekly basis. Laboratory assay results are anticipated from two to six weeks after submittal and will guide Phase 2 drilling after the summer rainy season. New targets also are developing from our ongoing geological, hyperspectral and LiDAR compilation.

"Drill pad construction will be completed on June 3^rd and the drill also will be turning today. With new land access agreements in place and our LiDAR digital topographic base received from Eagle Mapping, we look forward to a successful maiden drilling campaign for El Mezquite," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "The Phase 1 2,000 metre RC program will utilize eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies."

Figure 1. Looking south across El Mezquite – TRAX D7 CAT preparing to clear northern drill pad B2 for south and southeasterly directed RC holes targeting northeast-trending gold-bearing structures. Large gossan area, in background, with additional, recently identified, anomalous gold in rock samples.

The geological and construction teams arrived on site May 20^th to May 23^rd and returned to the Property on June 2^nd to carry out the remainder of the pad preparation accompanied by a D7 Caterpillar dozer (see Figure 1) contracted from Constructora Trax, S.A. de C.V. ("TRAX"), a Hermosillo-based construction firm. Layne de Mexico also mobilized the reverse circulation ("RC") rig to the Property on June 2^nd.

El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 2).

The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT).

Figure 2. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite.

Exploration Overview

The Company undertook an exploration program including environmental permitting for drilling, geological mapping of geologic structures and lineaments, ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS modeling, and a LiDAR survey. Ground truthing of the Au-Ag system with geological mapping and rock sampling was completed in three campaigns between July 2020 and March 2021. All aspects of the exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.

All current samples from the 2020-2021 programs were submitted to ALS Global for gold, multi-element and hyperspectral analysis. Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary multi-element and hyperspectral data over the Property database. The final batch of assay results remain pending and will be provided shortly upon receipt and interpretation.

LiDAR survey results were received recently and are being updated into the project GIS database.

RC Drill Program

The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession (see Figure 3). Individual holes are expected to reach depths of 100-200 metres to intersect the target intervals.

Land surface agreements were signed recently with three ranchers to facilitate full access to the Phase 1 collar locations.

Figure 3. Location Map of the proposed El Mezquite Phase 1 Drill Collars

Project Background

The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figures 2 and 3). High voltage power lines are positioned along Highway #16.

The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear (see Figure 4).

Figure 4. Location Map of El Mezquite Property and Mines of the Sierra Madre Occidental

Geochemical Analysis, Quality Assurance and Quality Control

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

The samples will be crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits will be transferred internally to ALS Global's North Vancouver analytical facility for gold and multi-element analysis. Pulps (50gram split) will be submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24). The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42).

Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals will be analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) will be inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples will be reviewed by the Company's QP and evaluated for acceptable tolerances.

All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

Qualified Person

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

About Layne de Mexico

Layne Mineral Services, a Granite Company, is one of the largest providers of drilling services in the Americas, and its Mexican subsidiary, Layne de Mexico, has its equipment and technical team based in Hermosillo, Sonora, Mexico.

About Constructora Trax

Constructora Trax offers a comprehensive, high-level response for civil engineering, construction and development in the states of Sonora, Sinaloa, Chihuahua, Zacatecas, Guerrero among others. TRAX has extensive project experience since 1990 specializing in earthworks, demolition, explosives, drilling and blasting, mineral exploitation in both underground and open pit mines, feasibility analysis of mining projects and a wide range of infrastructure projects.

About Silver Spruce Resources Inc.

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

Contact:

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

Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresources.com

info@silverspruceresources.com www.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

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

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

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/650272/Layne-de-Mexico-Commences-Phase-1-Drilling-at-Silver-Spruce-El-Mezquite-Au-Ag-Project-Sonora-Mexico

There's no doubt that money can be made by owning shares of unprofitable businesses. By way of example, Rock Tech Lithium (CVE:RCK) has seen its share price rise 558% over the last year, delighting many shareholders. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So notwithstanding the buoyant share price, we think it's well worth asking whether Rock Tech Lithium's cash burn is too risky. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

View our latest analysis for Rock Tech Lithium

Does Rock Tech Lithium Have A Long Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. Rock Tech Lithium has such a small amount of debt that we'll set it aside, and focus on the CA$17m in cash it held at March 2021. Looking at the last year, the company burnt through CA$2.7m. So it had a cash runway of about 6.4 years from March 2021. Even though this is but one measure of the company's cash burn, the thought of such a long cash runway warms our bellies in a comforting way. The image below shows how its cash balance has been changing over the last few years.

How Is Rock Tech Lithium's Cash Burn Changing Over Time?

Because Rock Tech Lithium isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. During the last twelve months, its cash burn actually ramped up 91%. Oftentimes, increased cash burn simply means a company is accelerating its business development, but one should always be mindful that this causes the cash runway to shrink. Admittedly, we're a bit cautious of Rock Tech Lithium due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Rock Tech Lithium Raise More Cash Easily?

While Rock Tech Lithium does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Rock Tech Lithium's cash burn of CA$2.7m is about 1.2% of its CA$221m market capitalisation. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

How Risky Is Rock Tech Lithium's Cash Burn Situation?

It may already be apparent to you that we're relatively comfortable with the way Rock Tech Lithium is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although we do find its increasing cash burn to be a bit of a negative, once we consider the other metrics mentioned in this article together, the overall picture is one we are comfortable with. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Taking a deeper dive, we've spotted 4 warning signs for Rock Tech Lithium you should be aware of, and 1 of them is concerning.

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

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

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

VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (TSX:SBB, OTCQX: SGSVF) (Sabina or the “Company”), in accordance with Toronto Stock Exchange requirements, is pleased to announce the voting results for election of its Board of Directors at its hybrid Annual General Meeting of Shareholders held on June 3, 2021 in Vancouver, British Columbia.

The director nominees as listed in the Management Information Circular dated April 21, 2021 were elected as directors of the Company at the meeting to serve until the next Annual General Meeting. In addition, the appointment of auditors as well as the Company’s adoption of new Articles were approved. The results are as follows:

Total Eligible Votes: 347,860,808, Total Voted: 200,371,833 Total Voted %: 57.60%

“On behalf of the Board of Directors, I would like to take this opportunity to thank Jim Morton for his guidance and support over the years, and we wish him well in his retirement,” said Bruce McLeod, President & CEO.

The eight elected nominees will serve on the Company's board of directors until the next annual meeting of shareholders or until their successors are elected or appointed.

Voting results have been reported on www.sedar.com.

For further information please contact:

This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.

Bruce McLeod, President & CEO
1800-555 Burrard Street, Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

TSX: GPR | NYSE American: GPL

Great Panther reminds shareholders to vote before the voting deadline on June 7, 2021, at 12:00 pm PT

VANCOUVER, BC, June 3, 2021 /PRNewswire/ – Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing gold and silver producer focused on the Americas, would like to remind shareholders to vote in favour of all proposed resolutions for the Company's upcoming annual general meeting of shareholders (the "Meeting") being held at 12:00 pm PT on June 9, 2021. The proxy deadline to vote is June 7, 2021, at 12:00 pm PT.

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY
The Board of Directors recommends that Shareholders vote FOR all proposed resolutions.

Shareholders are encouraged to read the materials relating to the Meeting and to vote in advance of the proxy voting deadline on June 7, 2021 at 12:00 pm PT. Shareholders can vote by telephone or via the internet following the instructions found on their form of proxy or voting instruction form. Copies of the Meeting materials can be found on the Company's website at https://www.greatpanther.com/investors/reports-filings/agm/.

Shareholder Questions or Voting Assistance

Shareholders who have questions or require assistance with voting may contact the Company's proxy solicitation agent, Laurel Hill Advisory Group, as follows:

North America Toll Free: 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com

ABOUT GREAT PANTHER

Great Panther is a growing gold and silver producer focused on the Americas. The Company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, four exploration projects, and an advanced development project. Great Panther is actively exploring large land packages in highly prospective districts and is pursuing acquisition opportunities to complement its existing portfolio. Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.

View original content to download multimedia:http://www.prnewswire.com/news-releases/great-panther-mining-reminds-shareholders-to-vote-before-voting-deadline-301305672.html

SOURCE Great Panther Mining Limited

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

VANCOUVER, BC, June 3, 2021 /CNW/ – Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation pursuant to which the Underwriters have agreed to purchase on a bought deal basis 7,143,000 common shares of the Company (the "Shares") at a price of C$3.50 per Share (the "Offering Price") for aggregate gross proceeds of approximately C$25 million (the "Offering").

The Underwriters also have an option to purchase that number of additional Shares equal to 15% of the number of Shares sold pursuant to the Offering at Offering Price, for market stabilization purposes and to cover over-allotments for a period expiring 30 days after the date of closing.

The proceeds from the sale of the Shares will be used to fund continuing development at Keno Hill and for general corporate and working capital purposes in a manner to be set forth in the Prospectus Supplement (as defined below).

The Offering will be qualified by way of a prospectus supplement (the "Prospectus Supplement") to the Company's existing base shelf prospectus in the provinces of British Columbia, Alberta, Ontario, Saskatchewan and Manitoba. The Prospectus Supplement (together with the related Base Shelf Prospectus) will be available on SEDAR at www.sedar.com.

Closing is expected on or about June 10, 2021 and is subject to Toronto Stock Exchange and other necessary regulatory approvals.

The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, a U.S. person or person in the United States, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.

About Alexco

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

Please visit the Alexco website at www.alexcoresource.com

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

SOURCE Alexco Resource Corp.

View original content: http://www.newswire.ca/en/releases/archive/June2021/03/c2896.html

Longueuil, Quebec–(Newsfile Corp. – June 3, 2021) – Azimut Exploration Inc. (TSXV: AZM) ("Azimut" or the "Company") is pleased to announce that it will be presenting at the Virtual Investor Day IV ("VID IV") June 8-10, 2021 hosted by IR.INC and FTMIG.

Mr. Jean-Marc Lulin, President & CEO of Azimut, will provide an in-depth update on the Company at 10:00 a.m. EST, June 10, 2021. VID IV is a completely interactive experience for feature companies and stakeholders. Feature companies will have 30 minutes to outline their investment opportunity, while stakeholders and the audience will be invited to engage via direct Q&A, polls and other interactive tools after and during each presentation. To register for VID IV, please click the link: https://www.bigmarker.com/series/virtual-investor-day-iv/series_summit.

About Azimut Exploration Inc.

Azimut is a mineral exploration company whose core business centers on target generation and partnership development. The Company is actively advancing the Patwon gold discovery on its 100%-owned flagship Elmer Property in the James Bay region. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 69.2 million shares outstanding. Azimut's competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.

About IR.INC

IR.INC Capital Markets Advisory & Services works with its clients to develop and deploy strategic plans and build industry alliances while providing shareholder introductions and solutions. The Company also provides a number of traditional Investor Relations Services. You can find out more about IR.INC here www.irinc.ca.

About FTMIG

Follow the Money Investor Group is a financial portal that provides content and information needed to navigate the ever-changing capital markets. Our global community of visitors and investors are able to use our platform to discuss and collaborate daily on all facets of their current and potential investments. Our goal is to help retail investors make the right financial decisions that fit their individual needs. You can find out more about FTMIG here www.ftmig.com.

Disclaimer

Follow the Money Investor ("FTMIG") is an online investor community that connects investors and public companies. Both FTMIG and IR.INC are not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies. Both FTMIG and IR.INC and their affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this conference. Please seek professional advice to evaluate specific securities or other content discussed during this event. Links, if any, to third party sites are for informational purposes only, and not for trading purposes. FTMIG and IR.INC. and their affiliates have not prepared, reviewed or updated any content on third party sites and assume no responsibility for the information posted on them.

For further information, please contact:

Joanne Jobin, Principal
IR.INC | Capital Markets Advisory & Services
jjobin@irinc.ca www.irinc.ca

Karl Boyd, President
Follow the Money Investor Group
kboyd@ftmig.com www.ftmig.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86394

Capstone Mining Corp. ("Capstone" or the "Company") (TSX:CS) announces that Mr. SeungWan Shon has resigned from the Board of Directors of the Company effective immediately.

Mr. Shon was Korea Resources Corporation’s nominee elected to the Board of Directors, and served as a member of the Technical, Health, Environmental, Safety and Sustainability Committee.

Mr. George Brack, Chairman of the Board, commented, "On behalf of Capstone’s Board of Directors, I would like to thank Mr. Shon for his valuable contributions during his tenure and wish him well in the future."

ABOUT CAPSTONE MINING CORP.

Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. We are committed to the responsible development of our assets and the environments in which we operate. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone owns 100% of Santo Domingo, a large scale, fully permitted, copper-iron-gold project in Region III, Chile, as well as a portfolio of exploration properties. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Further information is available at www.capstonemining.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210602006130/en/

Contacts

Jerrold Annett, SVP, Strategy and Capital Markets
647-273-7351
jannett@capstonemining.com

Kettina Cordero, Director, Investor Relations & Communications
604-262-9794
kcordero@capstonemining.com

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, Pure Energy Minerals (CVE:PE) shareholders have done very well over the last year, with the share price soaring by 359%. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So notwithstanding the buoyant share price, we think it's well worth asking whether Pure Energy Minerals' cash burn is too risky. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Pure Energy Minerals

Does Pure Energy Minerals Have A Long Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. In March 2021, Pure Energy Minerals had CA$417k in cash, and was debt-free. Importantly, its cash burn was CA$200k over the trailing twelve months. So it had a cash runway of about 2.1 years from March 2021. That's decent, giving the company a couple years to develop its business. The image below shows how its cash balance has been changing over the last few years.

How Is Pure Energy Minerals' Cash Burn Changing Over Time?

In our view, Pure Energy Minerals doesn't yet produce significant amounts of operating revenue, since it reported just CA$130k in the last twelve months. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. The 84% reduction in its cash burn over the last twelve months may be good for protecting the balance sheet but it hardly points to imminent growth. Admittedly, we're a bit cautious of Pure Energy Minerals due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Pure Energy Minerals Raise Cash?

There's no doubt Pure Energy Minerals' rapidly reducing cash burn brings comfort, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund further growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Pure Energy Minerals has a market capitalisation of CA$41m and burnt through CA$200k last year, which is 0.5% of the company's market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

Is Pure Energy Minerals' Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Pure Energy Minerals is burning through its cash. In particular, we think its cash burn reduction stands out as evidence that the company is well on top of its spending. And even its cash runway was very encouraging. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash. Taking a deeper dive, we've spotted 4 warning signs for Pure Energy Minerals you should be aware of, and 1 of them is a bit unpleasant.

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

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

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

Toronto, Ontario–(Newsfile Corp. – June 3, 2021) – GPM Metals Inc ("GPM or the Company") (TSXV: GPM) announces the appointment of Peter Walsh as Chief Executive Officer and Director.

Dan Noone, Chairman of the Board, commented, "On behalf of the Board of GPM, I am very pleased to welcome Peter as CEO and Director. Peter brings a wealth of Australian Government and Private Sector experience that will be instrumental in helping GPM move forward with our Walker Gossan Project. In addition, Peter will be relocating to Brisbane, to ensure our leadership will be on the ground in Australia, closer to our industry, government and community partners."

Peter Walsh, Chief Executive Officer, commented, "I am very excited to join GPM at an important crossroads in their history and look forward to working with the parties involved to help move the Walker Gossan project forward."

Peter Walsh has worked in senior ministerial advisory roles at both the Australian Federal and State levels as well as in the commercial sector. In particular, Peter was instrumental in the government consideration and delivery of major infrastructure projects including: the Melbourne to Brisbane Inland Rail project, the Toowoomba Second Range Crossing and the Roads to Recovery Program.

The Company also announces that it has granted to Peter Walsh the amount of 1,300,000 options being exercisable at a price of $0.10 per share until June 1, 2026. The options vest in accordance with the stock option plan of the Company.

About GPM Metals Inc.

GPM Metals Inc. is a zinc focused exploration company with offices in Toronto and Brisbane. The Company's current holdings include the district scale Walker Gossan Project, NT, Australia, a joint venture with Rio Tinto Exploration Pty Limited.

For further information contact:

GPM Metals Inc.
Dan Noone, Chairman
Suite 1101 – 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone : + 416 628-5904
Email: info@gpmmetals.ca

Forward-Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM's future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM's dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM's public disclosure documents, (including, without limitation, those risks identified in this news release and GPM's current management's discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

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 and / or accuracy of this release.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86253

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

Sherritt International Corporation ("Sherritt") (TSX:S), a leader in the mining and refining of nickel and cobalt, today announced that Leon Binedell has been appointed to the Corporation’s Board of Directors. Mr. Binedell, a 25-year mining industry veteran with a history of building shareholder value, was named Sherritt President and CEO effective June 1, 2021.

Originally from South Africa, Mr. Binedell brings 25 years of industry experience in leading global mining companies and adjacent joint ventures. Previously, he worked as Chief Financial Officer of Guyana Goldfields Inc. ("Guyana Goldfields"), a Canadian-based gold producer focused on gold deposits in Guyana. During his tenure with Guyana Goldfields, Mr. Binedell was instrumental in maximizing shareholder value and ensured stability through the effective recruitment of team members, the renegotiation of all major operating and supply contracts and the development of finance and governance practices that guided Guyana Goldfields through its successful sale.

Mr. Binedell has also served in a variety of senior leadership roles at other leading mining companies, including nickel and other base metals businesses. Prior to joining Guyana Goldfields, he served as Finance Operating Executive with Resource Capital Funds, a leading private equity fund focused on the mining sector and the commercialization of mining innovation. In his role, he advised a portfolio of 25 companies representing $2 billion in assets under management that spanned seven commodities and mining related innovations across eight countries on improving their overall strategies, financial performance and finance practices. Additional sector experience includes his time as National Leader of Finance Consulting in Mining & Energy at PricewaterhouseCoopers LLP, General Manager of Business Services at Xstrata Nickel (now Glencore) and Chief Financial Officer at Koniambo Nickel SAS.

With Mr. Binedell’s appointment, David Pathe, Sherritt’s former President and CEO, has stepped down from Sherritt’s Board.

About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt – metals essential for the growing adoption of electric vehicles. Its Technologies Group creates innovative, proprietary solutions for oil and mining companies around the world to improve environmental performance and increase economic value. Sherritt is also the largest independent energy producer in Cuba. Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol "S".

View source version on businesswire.com: https://www.businesswire.com/news/home/20210603005941/en/

Contacts

Joe Racanelli, Director of Investor Relations
Telephone: 416-935-2457
Email: joe.racanelli@sherritt.com
www.sherritt.com

Figure 1

Plan View of the San Antonio Project Outlining Drill Targets

Figure 2

Schematic Cross Section Outlining the Geological Model of the Dollar and Pound Targets

Figure 3

Sheeted Porphyry Veining in Drill Core with Leached Overprint at the Dollar Target

Figure 4

Sulphide-Rich Breccia in Drill Core at the Pound Target

TORONTO, June 03, 2021 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to announce that a maiden 5,000 metre drill program is advancing on its 100% owned San Antonio project in Caldas, Colombia. The aim of the program is to initially determine the near surface geometry of three targets and once defined, begin testing the potential for multiple, concealed, mineralized porphyry and breccia bodies within an area measuring approximately 2 x 1 kilometres (“km”). Surface work in this area has outlined anomalous gold and molybdenum soil values in association with altered porphyry intrusive bodies, porphyry-related stockwork quartz veining, hydrothermal breccias and polymetallic veins.

The San Antonio project covers an area of 3,780 hectares and is located approximately 6 km northeast of Aris Gold Corporation’s multi-million-ounce, development stage Marmato gold project. San Antonio is situated within the Middle Cauca Belt; a +250 km, north-south trending gold and base-metal belt hosting multiple porphyry and epithermal discoveries which include Zijin’s multi-million-ounce, high-grade Buriticá gold mine and the Anglogold-Ashanti porphyry deposits of La Colosa and Nuevo Chaquiro.

Assay results from the maiden drilling program are anticipated to be available in early Q4, 2021.

Details (Referenced in Figures 1-4)

• Three specific grassroots exploration targets have been outlined by surface mapping, sampling, soil geochemistry, geophysical modelling and shallow scout drilling. These are referred to as the Dollar, COP and Pound targets.

• Two diamond drill rigs are operating at the project. To date, 1,857 metres of scout drilling, to define the geometry of the Dollar target, has been completed. Two deeper penetrating drill-holes to test for the potential metalliferous portions of the Dollar and Pound targets are currently in progress.

• The San Antonio project benefits from favorable topography with approximately 600 vertical metres of elevation change from the mountain peaks to the various flat lying valleys. Additionally, the topography is not overly steep, lending itself to multiple potential infrastructure development scenarios should an economic deposit be discovered in the future.

• The Dollar target is defined by outcrops of quartz-magnetite stockwork and sheeted veins emplaced within quartz diorite porphyry bodies in an area of 500 x 500 metres. The vein systems are associated with sericitic alteration. Shallow scout drilling has just been completed to define the geometry of the stockwork bearing porphyry and identified a strong overprint of yellow clay alteration, probably responsible for partial metal leaching. This accounts for the sporadic gold and molybdenum values encountered in surface outcrops. Deeper drilling is now in progress from a high elevation at a local mountain peak to test the porphyry system at 600 metres vertically below surface. This hole is expected to intersect a strong magnetic anomaly outlined by geophysical modelling, interpreted as being part of the potassic metal bearing porphyry centre.

• The Pound target, located 1.2 km north of Dollar, is defined by hydrothermal breccias and polymetallic veins hosted within diorite intrusive over an area of 600 x 350 metres. Outcrop exposures on the southern border of this target area include epithermal vein systems within a preserved lithocap of advanced argillic alteration which is superimposed on hydrothermal breccia bodies. These rocks are interpreted to reflect preservation of the shallow levels of the porphyry system. Additionally, a strong circular magnetic anomaly (MVI) is located approximately 600-900 metres below surface and is interpreted to be the potential porphyry source for the hydrothermal breccias located directly above. The initial drill hole, currently coring into Pound, will test the potential of both the hydrothermal breccias and the porphyry at depth.

• The COP target is located 400 metres north-northwest of Dollar and is defined by highly anomalous molybdenum (8ppm to 108ppm) and gold (up to 2.74 g/t) in soils in association with altered diorite porphyry and quartz veinlets over an area of 650 x 350 metres. The surface expression of the COP target is coincident with geophysical anomalies at 200-300 metres depth which include a positive magnetic anomaly and IP chargeability and resistivity highs. COP has not been tested, other than a single historical borehole drilled just south of the target area, returned an intercept of 99 metres at 0.42 g/t gold and 4.9 g/t silver within unmineralized country rocks partially intruded by mineralized porphyry quartz veins at a depth of 608 metre downhole. The mineralization encountered in the drill-hole is interpreted to be leakage from the COP target directly to the north.

Qualified Person (QP) and NI 43-101 Disclosure

David J. Reading is a Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the scientific and technical information in this news release. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
About Collective Mining Ltd.

Collective is an exploration and development company focused on identifying and exploring prospective gold projects in South America. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales project. The 3,780 hectare San Antonio Project is located in a historical gold district in the Caldas department of Colombia. With recent geophysical and LIDAR surveys completed, an initial 5,000 metre drill program is underway at the project with initial assay results anticipated in Q3, 2021. The 3,333 hectare Guayabales Project is also located in the mining friendly Caldas department of Colombia. The Guayabales Project is currently undergoing aggressive surface exploration and is being advanced to a drill ready decision for Q4, 2021.

Further Information

All information contained in this news release with respect to Collective was supplied by the parties respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party. For further information regarding the Qualifying Transaction, please contact:

Collective Mining Ltd.
Paul Begin, Chief Financial Officer
Telephone: (416) 451-2727

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the maiden drill program, including timing of results, and Collective’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Figure 1: Plan View of the San Antonio Project Outlining Drill Targets

https://www.globenewswire.com/NewsRoom/AttachmentNg/effe6b8c-9de2-49ac-b4db-743bc2108189

Figure 2: Schematic Cross Section Outlining the Geological Model of the Dollar and Pound Targets

https://www.globenewswire.com/NewsRoom/AttachmentNg/9cc56431-ded0-4bf7-94c6-016abd0e598c

Figure 3: Sheeted Porphyry Veining in Drill Core with Leached Overprint at the Dollar Target

https://www.globenewswire.com/NewsRoom/AttachmentNg/c4ea2882-a5ac-411e-9716-a2ea2e3da754

Figure 4: Sulphide-Rich Breccia in Drill Core at the Pound Target

https://www.globenewswire.com/NewsRoom/AttachmentNg/85041572-5d64-4593-ba5f-191f46417eec

In the latest trading session, Southern Copper (SCCO) closed at $71.86, marking a +0.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.15%.

Heading into today, shares of the miner had gained 2.91% over the past month, lagging the Basic Materials sector's gain of 8.81% and outpacing the S&P 500's gain of 0.58% in that time.

Investors will be hoping for strength from SCCO as it approaches its next earnings release. In that report, analysts expect SCCO to post earnings of $1.09 per share. This would mark year-over-year growth of 220.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 42.62% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.41 per share and revenue of $10.27 billion. These totals would mark changes of +117.24% and +28.65%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for SCCO. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.43% higher. SCCO is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, SCCO is currently trading at a Forward P/E ratio of 16.25. For comparison, its industry has an average Forward P/E of 15.56, which means SCCO is trading at a premium to the group.

Meanwhile, SCCO's PEG ratio is currently 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining – Non Ferrous industry currently had an average PEG ratio of 0.69 as of yesterday's close.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 119, putting it in the top 47% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report
 
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NEW YORK, June 2, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Paladin Energy Limited (ASX: PDN; OTCQX: PALAF), a company which develops and operates uranium mines and also owns a large global portfolio of uranium exploration and development assets, has qualified to trade on the OTCQX® Best Market. Paladin Energy Ltd. upgraded to OTCQX from the Pink® market.

Paladin Energy Limited begins trading today on OTCQX under the symbol "PALAF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Viriathus Capital LLC acted as the company's OTCQX advisor and Sichenzia Ross Ference LLP acted as the company's OTCQX sponsor.

About Paladin Energy Limited
Paladin Energy Limited is an Australian listed uranium company focused on maximising the value of its 75% stake in the Langer Heinrich Uranium mine in Namibia. Langer Heinrich is a globally significant, long-life operation, having already produced over 43Mlb U3O8 to date. Operations at Langer Heinrich were suspended in 2018 due to low uranium prices. Beyond Langer Heinrich, the Company also owns a large global portfolio of uranium exploration and development assets. Nuclear power remains a cost-effective, low carbon option for electricity generation.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-paladin-energy-limited-to-otcqx-301303367.html

SOURCE OTC Markets Group Inc.

The Whitehaven coal project in New South Wales is expected to produce enough coal over 26 years to generate roughly 370m tonnes of CO2, not 100m tonnes as wrongly stated in an article on May 28.

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So, the natural question for Great Bear Resources (CVE:GBR) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

See our latest analysis for Great Bear Resources

How Long Is Great Bear Resources' Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Great Bear Resources last reported its balance sheet in March 2021, it had zero debt and cash worth CA$98m. Importantly, its cash burn was CA$27m over the trailing twelve months. So it had a cash runway of about 3.6 years from March 2021. Importantly, though, analysts think that Great Bear Resources will reach cashflow breakeven before then. If that happens, then the length of its cash runway, today, would become a moot point. Depicted below, you can see how its cash holdings have changed over time.

How Is Great Bear Resources' Cash Burn Changing Over Time?

Because Great Bear Resources isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Over the last year its cash burn actually increased by 43%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.

Can Great Bear Resources Raise More Cash Easily?

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

Since it has a market capitalisation of CA$969m, Great Bear Resources' CA$27m in cash burn equates to about 2.8% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

How Risky Is Great Bear Resources' Cash Burn Situation?

It may already be apparent to you that we're relatively comfortable with the way Great Bear Resources is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. It's clearly very positive to see that analysts are forecasting the company will break even fairly soon. Taking all the factors in this report into account, we're not at all worried about its cash burn, as the business appears well capitalized to spend as needs be. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Great Bear Resources (1 can't be ignored!) that you should be aware of before investing here.

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

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

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

VANCOUVER, British Columbia, June 02, 2021 (GLOBE NEWSWIRE) — North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or “the Company”) announces that the non-brokered flow-through private placement announced on May 13, 2021 has been oversubscribed and has now closed.

North Arrow has issued 9,222,000 units priced at $0.11 per unit (the “Units”) for gross proceeds of $1,014,420. Each Unit consists of a single flow-through common share of the Company (each a “Flow-Through Share”) and one half of one transferable non-flow-through common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional non-flow-through common share of the Company at a price of $0.18 for a period of two years up to May 31, 2023. Insiders and advisors of North Arrow have participated in the private placement on the same terms as arms-length subscribers, subscribing for a total of 3,895,000 Units for aggregate proceeds of $428,450.

Proceeds from the private placement will be used to advance North Arrow’s Canadian diamond projects including a June 2021 exploration drill program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories.

North Arrow intends to use the gross proceeds from the Flow-Through Shares for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)), with the Company using its best efforts to ensure that an amount equal to such proceeds will be used to incur Canadian exploration expenses related to North Arrow’s exploration projects. The Company will renounce such Canadian exploration expenses with an effective date of no later than December 31, 2021.

In connection with the private placement, North Arrow paid finders fees of $22,717.20. All securities issued in the private placement are subject to a hold period expiring October 1, 2021.

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 starting in June 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’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. Armstrong has reviewed and approved the technical contents of this press release.

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.

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sell North Arrow Minerals Inc. (CVE:NAR), you may well want to know whether insiders have been buying or selling.

What Is Insider Selling?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.

We don't think shareholders should simply follow insider transactions. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

Check out our latest analysis for North Arrow Minerals

North Arrow Minerals Insider Transactions Over The Last Year

Notably, that recent purchase by David Thomas is the biggest insider purchase of North Arrow Minerals shares that we've seen in the last year. That means that even when the share price was higher than CA$0.10 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. The only individual insider to buy over the last year was David Thomas.

David Thomas bought a total of 1.36m shares over the year at an average price of CA$0.098. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

North Arrow Minerals is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership of North Arrow Minerals

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Insiders own 14% of North Arrow Minerals shares, worth about CA$1.6m, according to our data. However, it's possible that insiders might have an indirect interest through a more complex structure. Whilst better than nothing, we're not overly impressed by these holdings.

So What Do The North Arrow Minerals Insider Transactions Indicate?

The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that North Arrow Minerals insiders are reasonably well aligned, and optimistic for the future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To that end, you should learn about the 2 warning signs we've spotted with North Arrow Minerals (including 1 which is a bit unpleasant).

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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

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

VANCOUVER, BC, June 2, 2021 /CNW/ – (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce that Eira Thomas, President and CEO, will be presenting at a Virtual Town Hall meeting for investors, on Wednesday, June 9, 2021, at 12:00 EST / 5:00pm BST / 6:00 pm CET. Please view PDF version.

The Company published its first quarter 2021 results on May 6, 2021 (link to press release), marking a strong quarter for operational and financial performance. In addition, the Company announced credit approved commitments for senior debt facilities of up to US$220 Million for the proposed Underground Expansion Project at the Karowe Mine, which would lengthen Karowe's mine life from 2025 to at least 2040. Earlier this year, Lucara extended its novel supply agreement with HB Antwerp by 24-months, in respect of all diamonds produced in excess of 10.8 carats in size, from the Karowe mine, to be sold as polished. The Karowe mine remains one of the world's highest margin diamond mines yielding 4 of the 10 largest diamonds in recorded history, including the 1,758 carat Sewelô, the largest diamond recovered from Botswana, and the 1,109 Lesedi La Rona which sold for US$53 million.

Register for the live Lucara Town Hall event here: Link. A copy of the presentation will also be available on the Company's website: https://lucaradiamond.com.

Eira Thomas
President and Chief Executive Officer

Follow Lucara Diamond on Facebook, Twitter, Instagram, and LinkedIn

ABOUT LUCARA

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment and community relations.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

The information was submitted for publication, through the agency of the contact person set out above, at 6:30 a.m. Pacific Time on June 2, 2021.

SOURCE Lucara Diamond Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/02/c2854.html

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

CALGARY, AB, June 2, 2021 /CNW/ – New Stratus Energy Inc. (TSXV: NSE) ("New Stratus" or the "Corporation") is pleased to announce the appointment of Mr. Wade Felesky as President of the Corporation and a member of the Board of Directors. Mr. Felesky was most recently Head of Investment Banking at Laurentian Bank Securities Inc. and previously Co-Head of Energy Investment Banking at GMP Securities L.P. He has over 25 years of investment banking experience and has been involved as an agent and advisor to the New Stratus team since 2004.

New Stratus is also pleased to announce that Mr. Humberto Calderon Berti has also agreed to join the Corporation's Board of Directors. Mr. Calderon Berti is both a geologist and petroleum engineer and is one of the most recognized and respected names in global energy. He is the former President of Petróleos de Venezuela, S.A. (Venezuela's state-owned petroleum company) as well as the former President of OPEC (the Organization of Petroleum Exporting Countries). He also has served as the Minister of Energy and Mines and the Minister of Foreign Affairs in his native Venezuela.

"We are very excited to have Mr. Felesky join our team as he has been a trusted advisor to us for almost 20 years. He has significant M&A experience in South America and will be focused on evaluating opportunities to further enhance shareholder value. Mr. Calderon Berti will bring unparalleled knowledge and experience to our Board of Directors as well as our management team. We are very fortunate to have him on our team" said Mr. Jose Francisco Arata, CEO & Chairman.

The Corporation also announces that Mr. Lucas Tomei has been appointed as Corporate Secretary. Mr. Tomei is a partner at Dentons Canada LLP, an international law firm, and has experience in a broad range of corporate finance, mergers and acquisitions, and securities regulatory matters. In addition, Mr. Krishna Vathyam has resigned from the Board of Directors. New Stratus thanks Mr. Vathyam for his valuable contributions on technical and corporate matters of the Company.

New Stratus announces that it has entered into an agreement with Canaccord Genuity Corp., on behalf of a syndicate including Echelon Wealth Partners Inc. and Paradigm Capital Inc. (collectively, the "Agents"), to lead a brokered private placement of up to 33,333,333 units of ‎the Corporation ("Units") at $0.30 per ‎Unit for total gross proceeds of up to $10,000,000 (the ‎‎"Offering"). Each Unit will ‎be comprised of one common share of the Corporation ("Common Share") ‎and ‎one-half of one common share purchase warrant ("Warrant"), with each whole Warrant exercisable for ‎one ‎Common Share at an exercise price of $0.45 per Common Share for a ‎period of 24 months from the ‎date of issuance of the Warrant.

The Agents have been granted an option (the "Agents' Option") to offer for sale up to an additional 3,333,333 Units on the same terms for additional gross proceeds of up to $1,000,000, which Agents' Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.

The Corporation intends to use the net proceeds from the Offering for development and exploration activities on its Colombian block, ‎VMM-18, the evaluation of other opportunities in its core evaluation areas of Colombia, Ecuador, Peru and Venezuela and general corporate purposes.

The securities to be issued under the Offering will be offered by way of private placement in (i) certain of the provinces of Canada, (ii) the United States and (iii) such other jurisdictions as may be determined by the Corporation, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The Offering is expected to close on or about June 30, 2021 and is subject to approval of the TSX Venture Exchange and customary closing conditions.

Forward-Looking Information

Certain information set forth in this press release constitutes "forward-looking statements" and "forward-looking information" under applicable securities laws. All information other than statements of historical fact are forward-looking statements. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "intends", "projects", "plans", and similar expressions. This press release includes certain forward-looking statements concerning the Offering, including the expected proceeds, the expected closing date, and the use of the net proceeds, as well as management's objectives, strategies, beliefs and intentions. These statements are not guarantees of future performance. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, including, for example, the risks inherent in oil and gas exploration and production activities, volatility in commodity prices, changes in political conditions, competitive risks and the availability of financing. Such risks and uncertainties may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. person absent an available exemption from the registration requirements of such Act.

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

SOURCE New Stratus Energy Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2021/02/c3088.html

Vancouver, British Columbia–(Newsfile Corp. – June 2, 2021) – Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce plans to restart the drill program in the Southern Gold Zone of the Miner Mountain Porphyry Copper-Gold project near Princeton, BC on June 15, 2021. This program will be a continuation of the two-drill hole program initiated April 14, 2021 that returned 1.03 gpt Au over 59 meters and 1.08 gpt Au over 88 meters (See NR May 27, 2021).

Three proposed drill holes will further test the Southern Gold Zone to the north, east, west and depth defined in the previously drill intersected mineralization located in Figure 1 (also available at www.segoresources.com).

Figure 1. Southern Gold Zone showing the location of DDH 46 and DDH 47, their results, and locations of proposed drill holes labelled A, B and C.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1056/86210_0438752e946629c3_003full.jpg

This news release was reviewed and approved by Ron Britten, Ph.D., P.Eng., a Qualified Person under NI 43-101.

About the Project

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

For further information please contact:
J. Paul Stevenson, CEO (604) 682-2933

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86210

Denver, CO, June 02, 2021 (GLOBE NEWSWIRE) — Intrepid Potash Inc. (NYSE:IPI) (“Intrepid”) today announced the following updates to its liquidity position:

• On June 1, 2021, Intrepid paid down the remaining $15 million outstanding on its Series B Senior Notes with cash on hand. Along with the paydown, Intrepid made a make-whole payment of $0.5 million and paid accrued interest of $0.1 million to noteholders. The Series B Senior Notes were scheduled to mature in April 2023.

• After the payoff of its Senior Notes, Intrepid has cash and cash equivalents of approximately $47 million and outstanding debt of $30 million on its revolving credit facility and $10 million outstanding on its PPP loan, which it expects to be forgiven, for total outstanding debt of $40 million.

“Rising prices, strong fertilizer sales, improving oil and gas fundamentals, and prudent capital spending have improved our net debt position to the point where we now have more cash on hand than outstanding debt.” said Bob Jornayvaz, Intrepid's Executive Chairman, President, and CEO. “We appreciate the flexibility our noteholders allowed us as our financial position improved in recent years, although the limitations imposed by the Notes combined with the more favorable rates under our revolving credit facility made this voluntary paydown an easy decision as we expect to recoup the required make-whole payment through reduced interest expense in future periods. After the paydown, we have $44 million in availability remaining under our revolving credit facility and a $75 million accordion feature to potentially expand that facility in the future.”

About Intrepid:

Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio^®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services.
Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio^® mine.

Intrepid routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Relations tab. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts for new postings.

Forward-Looking Statements:

This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause Intrepid’s actual results in future periods to differ materially from anticipated or projected results. Forward-looking statements in this press release include, among others, statements regarding Intrepid’s ability to agree on terms with its existing lender or additional lenders to expand total borrowing capacity under its revolving credit facility. An extensive list of specific material risks and uncertainties affecting Intrepid is contained in its Annual Report on Form 10-K for the year ended December 31, 2020, and other quarterly and current reports filed with the Securities and Exchange Commission from time to time. Any forward-looking statements in this press release are made as of the date of this press release, and Intrepid undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

Contact:
Matt Preston, Vice President of Finance
Phone: 303-996-3048
Email: matt.preston@intrepidpotash.com

VANCOUVER, British Columbia, June 02, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to announce its 2021 drilling and exploration program for Critical Rare Earth Elements (CREE), Zirconium (Zr) and Hafnium (Hf) in the Port Hope Simpson – St. Lewis CREE District in SE Labrador, has begun. Ms. Suzanne Butler, our senior geologist, has opened up our recently purchased Fox Harbour House, and welcomed back our employees for a very busy 2021 drilling and exploration season. Our drilling contractor, Springdale Forest Resources Inc., has arrived and are eager to initiate our 7000m drill program on our wholly owned Deep Fox project and Dr Randy Miller will be arriving shortly as well. We are funded with $ 2,520,000 from our successful flow through funding initiative completed in April 2021. Search is following the strict COVID protocols which are currently in place within the Province of Newfoundland & Labrador to ensure the safety of our employees and the communities where we work.

Our 2021 drilling and exploration program includes three different drill programs at DEEP FOX, channel sampling programs at SILVER FOX and FOX MEADOW.

EXPECTATIONS FOR THE 2021 EXPLORATION PROGRAM

• DEEP FOX

  • 7000m Phase III exploration drill program has commenced;

  • Upon completion of this drill program, a geotechnical drill program is contracted to start mid-August 2021 with approximately 2000m of HQ drilling;

  • A further 5000m Phase IV drill program could be implemented to further update our Deep Fox resource estimate depending on additional funding.

• FOX MEADOW

  • Surface channel program aims to expand the previously successful channel sampling programs to make this mineralized zone ready for a Phase I exploration drill program;

• SILVER FOX

  • sample high-grade zirconium-hafnium mineralization on surface to make Silver Fox ready for a Phase I drill program;

Greg Andrews, President/CEO, states; “Our immediate goal is to advance our Critical Rare Earth Element District to production. This will require (a) advancing our DEEP FOX project to a measured and indicated resource, (b) provide engineering and economic studies such as Preliminary Economic Assessments and Feasibility Studies and (c) develop and submit an Environmental Assessment report to initiate the environmental and permitting process for DEEP FOX. We are well positioned with our funding and our advanced project to capitalize on the recent government and investor awareness in the rare earth element sector. A secure supply of rare earth elements, from Newfoundland & Labrador, can contribute to the electric mobility, and other electrification initiatives in Canada, North America and Europe. We truly appreciate the support from all our stakeholders who are dedicated to help us develop this special district.”

DEEP FOX

A Phase III drill program will consist of up to 7000m of drilling in 40-45 holes, to:

1. extend the current resource (see Search Minerals News Release, Oct. 1, 2019) to the 200m level with a 50m x 50m grid;

2. drill on a 25 x 25m grid to the 50m level;

3. drill two cross-sections (25m spacing) to the 200m level; and

4. explore to the 250m level.

This drill program will provide data to estimate a resource for an open pit to the 200m level. The 25m grid and cross-section drill holes will help to evaluate what density of drilling is required to estimate a measured and indicated resource for a Bankable Feasibility study. The Company will prepare an updated resource estimate following the completion of this program.

The Geotechnical drill program will consist of 8-10 holes, about 1800-2000m, as required to determine the geotechnical parameters of the proposed open pit to mine the deposit. This program will commence after Phase III is complete, contracted for mid-August 2021.

The Phase IV drill program will be an estimated 25-30 holes totaling about 5100m. This program will be based on the conclusions derived from the previous three drill programs. The aim is to obtain enough data to be able to classify most of the DEEP FOX resource as an indicated or measured resource – this resource is required for a Bankable Feasibility study. This program will commence in the fall after a resource estimate has been made using Phase III drill data.

The DEEP FOX DEPOSIT occurs about 2 km northeast of St. Lewis and 12 km east of the FOXTROT DEPOSIT.

FOX MEADOW

The proposed channel sample program will consist of 5 new channels and 5 channel extensions totaling about 700m and aims to:

1. expand the strike length of the mineralized zone to the SE (now 790m),

2. explore the width of the mineralized zone (currently over 175m wide),

3. provide infill information throughout the 790m known strike length (see Search News Release October 28, 2020), and,

4. allow further integration of aeromagnetic data and the surface extent of the mineralization.

All channels occur in overburden-covered treed areas that will require trenching to expose bedrock. This program will make the FOX MEADOW mineralized zone “drill ready”.

The FOX MEADOW prospect occurs about 11 km west of Port Hope Simpson and 1 km from a gravel-covered, three-season forest access road. Port Hope Simpson is about 40 km northwest of FOXTROT and 50 km from DEEP FOX on paved and all-season graveled roads.

SILVER FOX

The SILVER FOX mineralized zone contains some of the highest grades of Zr and Hf mineralization observed in the District (see Search Minerals News Release, April 8, 2020 & October 22, 2020). The 2021 channel sample program, about 200m, will include seven infill channels and two channels to test the limits of the mineralized zone to the east and west; all channels will require trenching to expose bedrock for channel sampling. This channel program will make the SILVER FOX mineralized zone “drill ready”. The SILVER FOX prospect occurs about 12 km east of St. Lewis, 2 km west of FOXTROT and within 1 km of a graveled all-season highway.

Qualified Person:

Dr. Randy Miller, Ph.D., P.Geo, is the Company's Vice President, Exploration, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The Company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.

Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

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

Cautionary Statement Regarding “Forward-Looking” Statements:

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company’s proposed exploration programs described herein, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to obtain the necessary resources to complete the exploration programs and poor exploration results.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals,.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Sample of high-purity neodymium carbonate from US-sourced mineral sand monazite

Prepared using the Medallion Monazite Process and Ligand Assisted Displacement Chromatography.

VANCOUVER, British Columbia, June 02, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to announce the successful separation and purification of the magnetic rare-earth elements (REE) neodymium (Nd) and praseodymium (Pr), from US-sourced mineral sand monazite. This is a significant milestone for the Company and highlights the value-add opportunity created by the recent exclusive licensing of the Ligand Assisted Displacement (LAD) Chromatography method and underlying patents from Purdue University (see press release dated 18th February 2021).

Medallion Separates Neodymium and Praseodymium using LAD Chromatography

• Utilizing the Medallion Monazite Process, the Company extracted REEs from monazite sourced from an operational mineral sand mine in the eastern USA, into a pregnant leach solution (PLS);

• This PLS was passed into the LAD Chromatography process and the target REEs Nd and Pr were extracted directly from solution without the need for additional conditioning or purification of the PLS;

• The high efficiency of the LAD method is in part enabled by the ability to directly extract the highest value and most critical REEs from solution at high purity. Progressive group separation of all REEs (as required by the incumbent solvent extraction method) is not needed within the LAD Chromatography system;

• Published test work by Purdue University demonstrates >99% recovery of REE from solution by the LAD method;

• The LAD method can equally be applied to the direct extraction of heavy REEs dysprosium (Dy) and terbium (Tb) from solution, which will form the basis of additional test work;

• LAD Chromatography can be considered an environmentally friendly process, as it is highly efficient and does not depend upon solvents from the petrochemical industry. The technology was highlighted in a 2020 article in The Journal of Green Chemistry “Two-zone ligand-assisted displacement chromatography for producing high-purity praseodymium, neodymium, and dysprosium with high yield and high productivity from crude mixtures derived from waste magnets”;

• Monazite is an REE rich (up to 60% REE) mineral that can be accessed in large volume as a by-product from heavy mineral sand mines in the US, Australia, Africa, and elsewhere. It is consistently enriched in the high-demand metals Nd and Pr which are essential for high strength permanent magnets used in electric vehicles, wind turbines, communication devices and robotics;

• Medallion is developing transferable and scalable technologies for the extraction REEs from monazite. The technologies can be placed in the most economically and environmentally suitable locations to reduce the CO₂ impact of REE production caused by inefficient processes and long-distance transport of raw materials; and

• Medallion is utilizing Life Cycle Assessment to ensure lowest environmental impact process decisions are made.

“Research and development is generally a slow and progressive process. It is not often we get to witness firsthand the fast pace of an emerging disruptive technology,” said Mark Saxon, CEO and President. “It is less than 2 months since we started working with the LAD process at Purdue and already high-purity Nd and Pr carbonates have been separated from a monazite-sourced leach solution. By keeping the REE in solution from end to end, our cost, environmental footprint and recovery efficiency can all be optimized.”

“This is a real credit to Professor Wang and her team as well as a significant moment for Medallion. It demonstrates how highly developed the simulation, chemistry and physical hardware already is for LAD Chromatography. Our pre-investment review of the LAD system versus peer technology highlighted its potential, and it has been very gratifying to see it over perform.”

The LAD Chromatography method was developed by Linda Wang, PhD, the Purdue Maxine Spencer Nichols Professor of Chemical Engineering at Purdue University. Chromatography is a well-understood and widely-used technology platform that already delivers large volumes of high-purity chemicals, vaccines, pharmaceuticals, and metals for everyday life. Linda Wang and her team have developed and optimized the method to deliver an environmentally sound technique for REE separation with a particular focus on providing the critical magnetic metals Nd, Pr, Dy and Tb at a customer-ready purity.

The opportunity provided by the LAD system is greatly enhanced by the proprietary supporting simulation system that allows the optimal separation conditions for any REE feedstock to be quickly and cheaply modelled. In the work just completed at Purdue University on Medallion’s behalf, the system settings to purify Nd and Pr from monazite sourced PLS were first modelled, with the physical test work then carried out to produce the high purity products without repeated testing or trial and error. The purification was performed using off the shelf chemicals in an organic solvent free medium.

The LAD separation was operated with PLS taken directly from mineral sand monazite leaching which may provide significant operational efficiency in a commercial setting.

A larger volume of PLS is now being prepared for scaled up test work and optimization, alongside the modelling for Dy and Tb separation.

Medallion has exclusively licensed the LAD Chromatography technology for all non-coal sourced raw materials. The Company is in discussion with third party companies regarding separation testing and are happy to receive expressions of interest from parties wishing to learn more.

Techno-Economic Assessment Update

Utilizing independent consultants, Medallion is presently finalizing a Techno-Economic Assessment (TEA) and Life Cycle Assessment (LCA) for the Medallion Monazite Process (see press release dated January 5 2021. These studies draw together Medallion’s engineering, financial and environmental impact data and will become the foundation of Medallion’s technology execution strategy.

Delivery of the TEA has unfortunately been impacted by COVID-19 staffing restrictions within consulting service providers. Final engineering materials have been recently received which are now being reviewed and independent financial modelling is now in progress.

About Medallion Resources

Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third party REE producers.

REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing, and the safe management of waste materials. Medallion utilizes Life Cycle Assessment methodology to support investment and process decision making.

More about Medallion can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO
Donald Lay, Director & VP, Corporate Development
+1.604.681.9558 or info@medallionresources.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.

Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to the completion of additional tranche(s) of the Offering and the intended use of the proceeds. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/329f064b-c494-4fda-aded-7183bc277c57

• Strongly recommends shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified director nominees by 1:00 p.m. EDT on Friday, June 25, 2021. Shareholders with questions on voting should contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

• Warns shareholders that Mr. Smith and his slate of activists have confirmed they WILL use FANCAMP’s money to repay themselves for the costly and unnecessary proxy fight Mr. Smith started.

• Also warns shareholders that Mr. Smith’s handpicked nominees have REFUSED to confirm they will NOT interfere with or end the independent forensic investigation or civil claim against Mr. Smith – effectively allowing Mr. Smith to avoid accountability and blocking Fancamp from recovering the more than $3 million in losses incurred by Mr. Smith’s actions.

• Shareholders are encouraged to read the complete letter and information circular, which are available on SEDAR and on the Corporation’s website at fancamp.ca/thefutureisbright.

Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today mailed a letter to shareholders and its Management Information Circular (the "Circular") for its annual general meeting on Tuesday, June 29, 2021 at 1:00 p.m. EDT.

The letter strongly recommends that shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified and experienced director nominees: Mark Billings, Rajesh Sharma, Ashwath Mehra, Paul Ankcorn, Charles Tarnocai and Dean Journeaux.

Highlights from Fancamp’s Letter to Shareholders:

• Fancamp is at a turning point and the future is bright. With a new management team, led by CEO, Rajesh Sharma, and a rejuvenated Board of Directors (the "Board") focused on best-in-class governance, the Corporation is finally set to deliver significant value and returns to shareholders. The Corporation now has the strong exploration and mining expertise, business experience and strategic vision that Fancamp needs.

• Fancamp is focused on the future with a new plan for growth and value accretion to shareholders, with a disciplined rigor to allocating funds. Under the leadership of the new management and Board, Fancamp has completed a comprehensive strategic review of its mineral properties and other assets, and developed a three-pronged strategy for growth focused on: Exploration Properties, Titanium Technology and Strategic Alternatives for Near-Term Cash Flow.

• Fancamp has expanded its strong, well-balanced management team with the recent appointment of François Auclair as Vice President of Exploration. Mr. Auclair has a track record of developing and advancing exploration projects to mining projects. Fancamp also continues to focus on titanium technology under the leadership of Enrico Di Cesare.

• Fancamp has also nominated two new directors to its Board: Dr. Charles Tarnocai and Mr. Dean Journeaux. Both Dr. Tarnocai and Mr. Journeaux have extensive mineral exploration and mining industry experience, and a track record of creating value for public companies.

The letter also addresses the self-serving agenda of Mr. Peter H. Smith and his slate of handpicked friends and associates (the "Smith Nominees") to continue using shareholders’ investment in Fancamp as their personal bank account.

Reasons to REJECT the Smith Nominees and Their Self-Serving Agenda:

Mr. Smith has no business judgment or strategy:

• An investigation by the Board uncovered that between 2010 and 2019, Mr. Smith spent over $10 million on operating expenses and $27 million on exploration and development – with no tangible advancement of any of the Fancamp properties. Of the $27 million, over half ($15 million) was completely written off, meaning it added nothing for the Corporation or its shareholders.

• To offset his poor execution, between May 2018 and July 2020, Mr. Smith sold 4.8 million shares of Champion Iron Limited, a valuable corporate asset, for rock-bottom prices. These sales often defied the Board’s instructions and caused losses of over $3.1 million. Fancamp is now suing Mr. Smith for this money on behalf of shareholders. If the Smith Nominees are elected, shareholders will never see Fancamp recovering this money or any of the losses suffered as a result of Mr. Smith’s misdeeds.

• Mr. Smith treated Fancamp as ‘his company’ to do with as he pleased. Between 1986 and 2020, while Mr. Smith was Chairman, Director, President and CEO of Fancamp, he entered into numerous transactions that enriched himself and his friends and business associates. Examples include:

  • Paralyzing Fancamp’s subsidiary, Magpie Mines, for his own benefit, and granting himself and two individuals special shares that allowed Mr. Smith to personally control Magpie; and

  • Using the services of a single geologist – who invoiced for payments to his wife and for personal vehicle – to conduct various exploration activities without providing full disclosure to the Board.

The Smith Nominees are Unqualified to Keep Mr. Smith or the Corporation on Track:

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

• Fancamp asked the Smith Nominees to confirm that, if elected, they will NOT use the Corporation’s funds to repay themselves for the costly proxy Mr. Smith started. In their May 31, 2021 press release, the Smith Nominees confirmed they will take Fancamp’s money to repay themselves.

• Additionally, the Smith Nominees have refused to confirm they will NOT interfere with or stop the independent forensic investigation into Mr. Smith’s past wrongdoings – effectively allowing Mr. Smith to avoid accountability for his actions against Fancamp.

Shareholders are encouraged to read the complete letter and Circular, which is available on SEDAR and on the Corporation’s website at fancamp.ca/thefutureisbright.

You Have an Important Decision to Make
You can vote the GOLD proxy for Fancamp and get a return on your investment, or help the Smith Nominees continue using your investment as their personal bank account.

Mr. Smith’s cumulative total shareholder return during his 30-year executive tenure at Fancamp is -59.4%. That means if you gave Mr. Smith $100 when he first started, you would have lost more than half of your money and be left with only $40 today.

VOTE TODAY – Deadline: Friday, June 25, 2021 at 1:00 p.m. EDT
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 forward-looking statements which are not comprised of historical facts. 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. 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/20210602006016/en/

Contacts

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

Halifax, Nova Scotia–(Newsfile Corp. – June 2, 2021) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF)^[i] ("Ucore" or the "Company") is pleased to announce that it has entered into agreements with third parties to provide marketing, investor relations, and consulting services to the Company for the purposes of raising awareness about the Company and the significance of the Company's planned Strategic Metals Complex ("SMC") as the first step of the Alaska2023 Business Plan to establish a complete, secure, domestic rare-earth element ("REE") supply chain in the United States. Ucore's Alaska2023 strategy is predicated on the fundamental objectives of economic and commercial-scale production of REE oxides ("REOs") required for the REE permanent-magnet ("REPM") industry. This goal includes further important planned developments by the Company's subsidiary, Innovation Metals Corp. ("IMC"), as it progresses towards the commercialization of its proprietary critical-metals separation technology, RapidSX™. RapidSX is intended to be commercially deployed in the SMC, as part of the Alaska2023 Business Plan, to separate and purify Ucore's planned REE feedstocks into finished REOs of commercial purity, required by green-energy applications. Additionally, IMC plans to license the RapidSX technology for REE separation to strategic licensing partners for the processing of US and/or US-allied-sourced REE feedstocks. The strategic timing of these planned engagements and the related online awareness campaign are important as the Company expects to complete very deliberate phases of its business plans and various short-term objectives during the period from Q2 2021 to Q2 2022.

Ucore has engaged Stockhouse Publishing Ltd. ("Stockhouse") for a 12-month period at a cost of $7,500 per month. Stockhouse will provide the Company with a variety of digital marketing, investor-relations and capital-markets awareness services, as well as consulting services. Additionally, the Company has engaged Mountain Capital Corp. ("Mountain Capital") for the provision of digital marketing, investor relations and capital-markets awareness services for a six-month period at a cost of $13,333 per month.

"While we continue to advance our Alaska2023 Business Plan, we are exceptionally pleased by the opportunities that the RapidSX technology have afforded to the Company to achieve near-term commercial REE processing – precisely what the REE industry and its dependent downstream customers and stakeholders outside of China need right now," noted Ucore Chairman and CEO, Pat Ryan. "We look forward to sharing our vision for the Company with both current and new investors as we execute our plan for North American rare-earth independence followed by expected innovative RapidSX technology developments regarding lithium, nickel, cobalt, and other green-technology critical materials."

Stockhouse is a well-known financial media company that serves financial institutions, media publishers, public companies, brand advertisers, investors and persons who have an interest in capital-market matters. Other than the monthly fee disclosed above, Stockhouse does not have any financial interest, directly or indirectly, in Ucore or its securities, or any right or intent to acquire such an interest.

Mountain Capital is a capital-markets media-relations firm that provides services intended to increase the awareness and profile of its clients. Other than the monthly fee disclosed above, Mountain Capital does not have any financial interest, directly or indirectly, in Ucore or its securities, or any right or intent to acquire such an interest.

Ucore's online awareness campaign is intended to help investors and prospective investors discover and learn more information about Ucore and the Company's Alaska2023 Business Plan. The awareness campaign will only provide investors and prospective investors with previously disclosed factual information concerning Ucore, which shall be presented in a summarized and fair and balanced manner. The awareness campaign is not intended to prepare the market for any distribution of securities or create any unusual demand for any of Ucore's securities. All investors and prospective investors are encouraged to obtain professional investment advice from a registered professional investment advisor and to fully review all of Ucore's publicly available disclosure filings, which are available on SEDAR (www.sedar.com).

# # #

About Ucore Rare Metals Inc.

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

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

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

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

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements" regarding, among other things, the Company's Alaska2023 Business Plan as well as the upcoming online awareness campaign. All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, litigation outcomes, events, or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results and actual results or developments may differ materially from those in forward-looking statements. In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to IMC, as suppliers for Ucore's expected future Alaska Strategic Metals Complex ("Alaska SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer off-take agreements. Ucore has also assumed that sufficient external funding will be secured to develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; unexpected or adverse outcomes in the currently outstanding litigation matters between Ucore and IBC Advanced Technologies, Inc.; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

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

CONTACT

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86196