TORONTO, May 20, 2021 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”), an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is pleased to report the three months financial results for fiscal 2021 and 2020, as summarized below:

For full details, please visit us at www.platogold.com.

About Plato Gold Corp.

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

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

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

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

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

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

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

For further information, please contact:

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

Forward-Looking Statements

This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals that may offset operating costs and future plans and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

BEDFORD, NS / ACCESSWIRE / May 20, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE)(FRA:S6Q1) is pleased to announce the discovery of a pristine exploration target with promising Au-Ag assay results from its Phase 1 prospecting and rock sampling program conducted over three weeks on the 1,130-hectare Jackie Au-Ag property ("Jackie" or the "Property").

"Silver Spruce put the technical boots on the ground and our Hermosillo-based geological team has discovered a high quality, broadly-zoned geochemical anomaly with multiple mineralized surface rock samples ranging up to 9.65 g/t Au and 515 g/t Ag with intense oxide and silicate alteration, and presence of base metals and pathfinder elements," said Greg Davison, Silver Spruce VP Exploration. "Jackie had seen very little structured exploration and our first prospecting program successfully identified a previously untouched Au-Ag target ready for systematic sampling. The Phase 2 geological program scheduled for a late May startup will focus on grid sampling and mapping around our discovery and on ASTER targets noted at higher elevations."

The Company recently signed a Definitive Agreement (Press release November 30, 2020) with Colibri Resource Corp. to acquire 50% interest in Jackie, an early-stage precious metal project located 175 km east of Hermosillo, Sonora, Mexico. The large grassroots property (Figure 1) is located in a very productive region only one to two kilometres south from our El Mezquite and Diamante properties and adjacent to the west of Minera Alamos' Santana project.

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

The Company, with a four-person team (two senior geologists and two samplers) and all necessary logistical support, undertook a Phase 1 exploration program, including prospecting, rock, soil and stream silt/sand sampling, and preliminary geological mapping of areas exhibiting significant alteration or mineralization and collection of structural data. The team focused on identifying and sampling readily accessible areas of interest, confirming areas for future detailed mapping and providing a geochemical baseline map for vectoring toward potential Phase 2 targets.

All aspects of the exploration program will be conducted with strict adherence to COVID-19 protocols for personal safety.

Figure 2. Ridge showing intense oxidation and argillic alteration within large polymetallic anomaly as indicated in Figure 1 and located 3km north of La Quema.

Figure 2, identified as one of the early exploration targets from aerial photography and review of regional ASTER (Advanced Spaceborne Thermal Emission and Reflectance Radiometer) imagery, shows a distinctive andesite ridge with intense oxidation, silicification and argillic alteration, and a notable paucity of vegetation. Outcrop exposures, mapped on a reconnaisance1:5,000 scale, included mainly andesite in the central valley and rhyolite tuff on the west and southwest. The Property is characterized by 300 metres of elevation from the river valley to the cliff top plateaus.

A total of 123 rock samples, plus duplicates and QA/QC standards and blanks, were delivered to ALS for gold and hyperspectral analysis using the Terraspec 4 and aiSIRIS identification of the principal alteration minerals and their relative intensity. Multi-element analysis was performed as results warranted from the gold values and coincident with visual alteration mapping.

The prospecting sample locations are shown on the Property map in Figure 3 and selected rock sample assays and analyses, sorted by Au g/t, are displayed in Table 1.

The extensive oxide and silicate alteration, verified by preliminary aiSIRIS results of hyperspectral analysis, and seen in Figure 2 represented bleached and oxidized argillic zones with aluminous clay minerals and muscovite, and commonly low metal values.

Figure 3. Prospecting sample location map of Jackie Property

Table 1. Selected assays for rock samples, sorted by Au g/t, noting anomalous Ag g/t, base metals and pathfinder trace elements.

The current suite of samples was comprised of kaolinite, dickite, alunite, pyrophyllite, montmorillonite, saponite-nontronite, opaline silica and jarosite in variable proportions. Zeolite speciation to define temperature ranges was not confirmed. Samples collected from the northern area of the ridge as noted in Figure 4 also displayed intense replacement by zeolite, kaolinite, alunite, montmorillonite, opaline silica and muscovite though contained the bulk of the anomalous gold and silver values. Ubiquitous hematite with lesser jarosite and secondary oxyhydroxides was identified on steep vertical exposures (Figure 4) and in quartz vein assemblages.

Further interpretation of the hyperspectral minerals and potential epithermal alteration zones will be generated upon receipt of the final sample batch and raw files from ALS and comparison with property-wide ASTER and LiDAR imagery.

Figure 4. Left- Vertical cliff exposure with pervasive oxidation to hematite and iron oxyhydroxides ± jarosite. Right –Prospecting sample JK9 – 9.65 g/t Au, 515 g/t Ag – intense low temperature alteration including zeolite with lesser jarosite and muscovite confirmed by aiSIRIS hyperspectral analysis.

Geochemical analyses of precious metals clearly identified a strong Au-Ag anomaly, commonly though not exclusively, associated with elevated Hg, Pb, Zn, Cd, As, Sb and Cu. Gold-silver ratios are highly variable with Ag assays generally low and the highest silver values are linked to the best gold assays. Hg shows a strong positive link to Au-Ag as does Zn-Cd though each element displays a wide range down to background values. Copper, arsenic and antimony display a more diffuse spatial pattern with lateral extent and Ba-Sr exhibit an inverse relationship to precious metals with both trends similar to the multi-element data recorded for the nearby El Mezquite property.

Select maps illustrating the Phase 1 geochemical anomalies, based on 75^th, 90^th, 95^th and 98^th percentiles, are provided in Figure 5 for gold, arsenic and strontium. The additional geochemistry and geological maps and images from the field program will be provided on the updated Silver Spruce web site (www.silverspruceresources.com) shortly.

Figure 5. Geochemistry (Au, As, Sr ppm) for Phase 1 prospecting samples, Jackie property.

Project Background

The Jackie Project is located within the western portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the precious metals-rich Mojave-Sonora Megashear (Figure 6).

Figure 6. Location Map of Jackie Property and Mines of the Sierra Madre Occidental

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

The 1,130-hectare Property is easily accessible from Hermosillo to the Tepoca area and heading south from Mexican Highway #16 or west from Highway #117, or from Ciudad Obregón travelling northeast on Hwy. #117 and west to the pueblo of La Quema with vehicles and then pack teams along dry river beds, dirt roads and trails. The southerly road from Hwy #16 traverses through the centre of the known gold mineralization at El Mezquite only 2 km north of Jackie. High voltage power lines are positioned on Highway #16.

Project Geology

The Miocene-age lithologies are represented by the Baucarit Formation consisting of intercalated polymictic conglomerate, sandstone and ‘limonite' overlying the Tepoca Formation represented by porphyritic andesite at the base, and basalt and basaltic andesite at the top of the section.

The Baucarit conglomerate unit is represented by unsorted pebbles to large cobbles of andesite and basalt of different sizes, from 1cm to 20cm in diameter, exhibited moderate to strong silicification. The Tepoca basalt underlying the conglomerate displayed a porphyritic texture with moderate silicification. Neither unit exhibited evidence of any mineralization.

Tepoca andesite is similar to the above unit though with light gray color when fresh and reddish color on exposure, displayed moderate to intense oxidation and alteration, with hematite and associated Fe oxide/oxyhydroxide, jarosite and Mn oxides. Silicate alteration comprised weak sericitization and moderate to strong silicification, weak to moderate argillization and veinlets of quartz and hematite. Transecting the andesite in a northeasterly strike were narrow 1 to 1.5 metre wide, lineaments of brecciated andesite with monolithic fragments, abundant hematite, jarosite, moderate to strong silicification, and traces of very finely disseminated pyrite.

Rhyolitic crystal tuff units, located to the west and southwest, presented moderate to strong silicification, moderate veinlets of chalcedonic silica, and narrow stringers of calcite with quartz crystals, weak oxidation to hematite and weak to moderate propylitic alteration (chlorite-carbonate). Precious metal values were very low to below detection limits.

Geochemical Analysis, Quality Assurance and Quality Control

Rock samples were 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 were 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 were transferred internally to ALS Global's North Vancouver analytical facility for gold and multi-element analysis. Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24). The retained pulps also were 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 were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals were 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) were inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results were provided with the Company sample certificates. The results of the ALS control samples were 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.

All of the metal values disclosed herein by Silver Spruce are reported from grab and channel samples which may not be representative of the metal grades. The Company has reviewed the current QA/QC certificates and believes the sampling, analytical protocols and data will withstand scrutiny for inclusion.

Qualified Person

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

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is 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
(902) 826-1579
mkinley@silverspruceresources.com

info@silverspruceresources.comwww.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/648341/Silver-Spruce-Discovers-New-High-Grade-Exploration-Target-on-Jackie-Au-Ag-Property-Sonora-Mexico-Au-to-965-gt-Ag-to-515-gt

GEORGE TOWN, Cayman Islands, May 20, 2021 /CNW/ – Vox Royalty Corp. (TSXV: VOX) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is pleased to provide recent development updates from royalty operating partners Black Cat Syndicate Limited (ASX: BC8) ("Black Cat"), Venturex Resources Limited (ASX: VXR) ("Venturex"), Alamos Gold Inc. (TSX: AGI) ("Alamos") and Silver Mines Limited (ASX: SVL) ("Silver Mines").

Riaan Esterhuizen, Executive Vice President – Australia stated, "We are excited to share another month of highly productive operator newsflow particular to some of our development stage royalties. These updates include A$20 million raised to fund construction, commencement of early-works, significant statutory permitting progress, over 30,000m of planned drilling on our royalty properties and numerous high-grade gold and silver drilling results. The value of Vox's portfolio of 50 royalties and streams continues to organically re-rate with each month of operator success."

Summary of Development Updates

• Black Cat capital raising to fund rapid start-up strategy and May 2021 resource update at the Bulong gold project;

• Venturex's Project Management Plan approved and early works commenced at the Sulphur Springs copper-zinc project;

• Alamos permitting timeline of mid-2022 reiterated for the Lynn Lake gold project; and

• Silver Mines high-grade drilling results and expanded 30,000m drill program at the Bowdens silver project.

Bulong (Pre-Construction) – A$20M Capital Raising for Rapid Start-up Strategy

• Vox holds a 1% net smelter return royalty over part of the Bulong gold project;

• On May 5, 2021, Black Cat announced that it has received firm commitments for an approximate A$20M equity raise. The funds raised will be applied to extension and exploration drilling, mill equipment purchases, feasibility studies and other working capital. The equity raise forms part of Black Cat's "rapid start-up strategy" for its Kal East Gold Project, which includes Bulong royalty-linked deposits; and

• On April 30, 2021, Black Cat announced that during the first quarter of 2021, 1,913m of drilling across 28 holes was completed at the royalty-linked Trump deposit, in preparation for a resource upgrade expected in May 2021, which included the following high grade intersections:

Sulphur Springs (Pre-Construction) – Permitting Approvals and Construction Early Works

• Vox holds a A$2/tonne production copper-zinc royalty (A$3.7M royalty cap) on the Sulphur Springs project and an effective A$0.80/tonne production royalty on the Kangaroo Caves deposit, which is part of the combined Sulphur Springs project;

• On April 15, 2021, Venturex announced that:

Lynn Lake (MacLellan, Feasibility) – Permitting Guidance and Drilling Update

• Vox holds a 2% gross revenue royalty (post initial capital recovery) on part of the MacLellan deposit at the Lynn Lake gold project;

• On April 28, 2021, Alamos announced that:

Bowdens (Feasibility) – 30,000m Drilling Program Expansion and High-Grade Intersections

• Vox holds a 0.85% gross revenue royalty on the Bowdens silver-lead-zinc project and a 1.0% gross revenue over surrounding regional exploration tenure;

• On May 14, 2021, Silver Mines announced high-grade drill results:

• On May 18, 2021, Silver Mines announced a major expansion of the drilling program at Bowdens:

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a "Qualified Person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox

Vox is a high growth precious metals royalty and streaming company with a portfolio of 50 royalties and streams spanning nine jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.

Cautionary Note Regarding Forward Looking Information

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements".

The forward-looking statements and information in this press release include, but are not limited to, statements regarding expectations for the timing of commencement of resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox's mining operator partners and future royalty payments derived from various royalty assets of Vox.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.

Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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

Technical and Third-Party Information

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

SOURCE Vox Royalty Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/20/c6617.html

VANCOUVER, British Columbia, May 20, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce positive lithium results from mapping and sampling of two new outcrop target areas in the Quelcaya region 6 kilometres (km) west of the Falchani lithium deposit in the Macusani Plateau in southeastern Peru. The Company is also pleased to provide an update on upcoming exploration and development plans for these new areas and for the existing Falchani Lithium and Macusani Uranium Projects (“Falchani” and “Macusani”).

Highlights:

• Two new high priority, drill-ready lithium target areas have been identified west of Falchani through mapping and surface sampling.

• Drilling now being planned to test these targets and focus on the discovery of new lithium deposits.

• In-fill and expansion drilling to begin at Falchani and focus on resource re-classification (upgrading resource categories) and resource expansion.

  • Expansion drilling to begin at Macusani to expand existing uranium resources and test for new deposits.

• Permitting process, including environmental and community permitting, underway with goal of launching the above drill programs late June to coincide with the end of the local rainy season.

Simon Clarke, Chief Executive Officer & Director of American Lithium stated, “We are very excited with the new lithium and uranium exploration targets generated by our Peruvian team and are pleased with the progress made on permitting required to reactivate exploration and development. Drilling is expected to commence shortly. Having our own diamond drills provides maximum flexibility while enabling us to control and minimize drilling costs. We anticipate running three drill rigs simultaneously.”

Dr. Laurence Stefan, President, Chief Operating Officer & Director of American Lithium added, “The newly discovered lithium target areas expand our exploration drill target inventory separately from the large Falchani Lithium deposit. In addition, the work we have planned at both the Falchani and Macusani Projects should enable us to expand and re-classify our existing resources at both Projects. We are optimistic that the planned drill programs will further enhance both the lithium and uranium potential of the entire Macusani Plateau region for the benefit of all stakeholders. Our pioneering work in Peru in the field of green energy metals will help strengthen the country’s status as a prime mining jurisdiction.”

Outcrop Mapping and Sampling Results Details
In Q3-Q4 2020 and Q1 of 2021, while adhering to strict national and local COVID-19 regulations and with the support of local communities, Plateau’s Peruvian technical team completed surface exploration work consisting of prospecting, mapping and outcrop sampling west of the Falchani Lithium Deposit in the south-central portion of the Company’s project area. This work resulted in the discovery of two new areas of outcropping and sub-cropping volcanic-related lithium mineralization.

A total of 64 grab and trench samples were collected from surface outcrop or subcrop buried under thin soil cover from 2 separate areas located near Quelcaya Village, 6 km west of the Falchani Lithium project area (for location map follow link: Quelcaya Area Location Map). Samples were collected and analyzed for a variety of volcanic rock types and returned highly variable lithium grades ranging from 88 parts per million (ppm) Li to 2,700 ppm Li. The selected nature of such sampling does not necessarily reflect potential lithium contents expected from future drill testing, but do indicate the presence of lithium mineralization in new areas in a similar volcanic-related setting but in different rock units and rock types than at Falchani.

The results of the mapping and sampling work with lithium geochemical analyses for selected samples displayed, along with interpreted provisional cross-sections for the Sapanuta 3 and Clark-Dyke Zones are summarized in the three figures linked in this release. Outcrop descriptions and structural measurements were used to interpret the local geology and produce maps and sections. The cross-sections are provisional and will be used to guide the drill targeting, which will more accurately establish the subsurface geology.

Sapanuta 3 Zone
The Sapanuta 3 Zone consists of shallow dipping, highly weathered volcaniclastic tuffs very similar to those found at Falchani, but with lithium grades ranging between 1,056-1,758 ppm Li. The tuff unit is exposed in outcrop and appears to be intruded or cored by a small subvolcanic intrusive exposed downslope, and in part, is overlain by thin Macusani rhyolite. The extensive surface weathering / alteration in this area may be responsible for the lower Li grades observed in surface grab samples compared to Falchani, but it is interpreted that this new tuff unit may have the potential to host similar grades and thickness as Falchani in the subsurface, however this will ultimately be confirmed through drilling. For further details follow link: Sapanuta Interpreted Cross Section C-C'.

Clark-Dykes Zone
The Clark-Dykes Zone consists of a shallow dipping subvolcanic intrusive sill/dyke unit with lithium grades ranging from 704-2,700 ppm Li. The sill/dyke unit underlies a thin volcaniclastic tuff with lower Li grades than the Li-rich tuff hosting Falchani-style mineralization. It is interpreted that the sill/dyke unit appears to terminate in a subvolcanic intrusion downslope to the southwest. The footwall rocks underlying the Li-rich sill/dyke unit are rhyolite. While different in style to Falchani, the crystalline nature of the host sill/dyke unit suggests that upgrading should be possible through simple rejection of coarser crystalline mineral phases (quartz and feldspars that can represent up to 50% by volume of the rock) through screening and/or flotation. This processing work and initial leach testing work is currently being planned alongside initial drill testing. For further details follow link: Clark Dykes Interpreted Cross Section D-D'.

Samples were collected using geological hammers with samples of 3-6 kilograms (kg) placed in sealed bags for shipping to analytical labs in Lima. Sample site map coordinates are recorded using hand-help GPS, outcrop descriptions and any structural measurements are recorded, and samples described and photographed by Company geologists.

Quality Assurance, Quality Control and Data Verification
Outcrop grab samples are collected from exposed outcrop, with samples placed in sealed bags and shipped to Certimin’s sample analytical laboratory in Lima for sample preparation, processing and ICP-MS/OES multi-element analysis. Certimin is an ISO 9000 certified assay laboratory. The selected grab samples are not necessarily representative of the grades of mineralization hosted on the property. The Company’s Qualified Person, Mr. Ted O’Connor, has verified the data disclosed, including prospecting and outcrop sampling procedures and analytical data. The program is designed to include a comprehensive analytical quality assurance and control routine comprising the systematic use of Company inserted standards, blanks and field duplicate samples and internal laboratory standards.

Falchani and Macusani Drill Programs
Drill rigs will also be mobilized to Falchani and Macusani. At Falchani, drilling will focus on in-fill and expansion drilling with a focus on the re-classification (upgrading resource categories) and expansion of existing resources. At Macusani drilling will focus on newly prospected/mineralized areas extending from several existing deposits and on new areas where sampling has identified surface uranium mineralization (Please refer to Plateau Energy news release dated January 26, 2021 for details).

Option Grant
The Company also announces the granting, subject to regulatory acceptance, of an aggregate of 7,050,000 incentive stock options to certain officers, directors and consultants of the Company (the “Options”). The Options have a term of 5 years and are exercisable at a price of $2.17 per common share.

Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About American Lithium
American Lithium is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

Please watch our informative project update videos and related background information at https://www.americanlithiumcorp.com

For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

For further information, please contact:

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 press release.

Cautionary Statement Regarding Forward Looking Information

This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the plans, objectives and advancement of the TLC, Falchani and Macusani Projects (the “Projects”), exploration drilling plans, in-fill and expansion drilling plans, results of exploration and development plans, expansion of resources and testing of new deposits, environmental and social community permitting, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc. (“Plateau”); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of American Lithium, including the status of the “Precautionary Measures” filed by American Lithium’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on January 29, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Cautionary Note Regarding Macusani Concessions

Thirty-two of the 151 concessions held by American Lithium’s subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in obtaining such an injunction on 17 of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure application was made at the same time for the remaining 15 concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. A final date for the last stage of the judicial process has not yet been set. If American Lithium’s subsidiary Macusani does not obtain a successful resolution of the Processes, its title to the concessions could be revoked.

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

Highlights:

• Completes the C$37 million financing package comprised of a C$25 million bought deal offering and previously announced C$12 million margin loan facility

• As of May 20, 2021 , the Company has approximately C$70 million in cash, equity and inventory holdings and C$6 million (US$5 million) available for drawdown under its margin loan facilty

VANCOUVER, BC, May 20, 2021 /CNW/ – Uranium Royalty Corp. (TSXV: URC) (NASDAQ: UROY) ("URC" or the "Company") is pleased to announce that it has completed its previously announced bought deal offering (the "Offering") of common shares of the Company, resulting in aggregate gross proceeds of C$25,010,000. The Offering was conducted by way of a short form prospectus dated May 18, 2021, through a syndicate of underwriters led by BMO Nesbitt Burns Inc., and included Canaccord Genuity Corp., H.C. Wainwright & Co., LLC, TD Securities Inc. and Paradigm Capital Inc. (collectively, the "Underwriters"), pursuant to which the Company issued a total of 6,100,000 common shares (the "Offered Shares") at a price of C$4.10 per Offered Share (the "Offering Price").

Following the closing of the Offering, the Company has approximately C$70 million in cash, equity and inventory holdings and C$6 million (US$5 million) available for drawdown under the margin loan facility.

The Company intends to use the net proceeds of the Offering to fund future purchases of royalties, stream and similar interests and purchases of physical uranium, and for working capital.

Uranium Energy Corp., an insider of the Company, purchased 1,000,000 Offered Shares in order to maintain its proportionate ownership interest in the Company.

The Company has granted the Underwriters an option, exercisable at the Offering Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Offered Shares sold under the Offering to cover over-allotments, if any, and for market stabilization purposes.

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

The Company previously announced that it had entered into a C$12 million margin loan facility with Bank of Montreal. The facility is subject to an interest rate of 3-month USD LIBOR plus 5.50% per annum and customary margin requirements, and is secured by a pledge of all the ordinary shares of Yellow Cake plc held by the Company. The facility matures on the earlier of: (i) May 5, 2023; or (ii) the early payment date on which the outstanding loan amount is fully and finally paid and is subject to customary margin requirements, with margin calls being triggered in the event, among other things, that the loan-to-value ratio is at or above 50%.

About Uranium Royalty Corp.

Uranium Royalty Corp. (URC) is a pure-play uranium royalty company focused on gaining exposure to uranium prices by making strategic investments in uranium interests, including royalties, streams, debt and equity investments in uranium companies, as well as through holdings of physical uranium. The Company recognizes the inherent cyclicality of valuations based on uranium prices, including the impact of such cyclicality on the availability of capital within the uranium sector and the current historically low uranium pricing environment. URC intends to execute on its strategy by leveraging the deep industry knowledge and expertise of its management team and the Board to identify and evaluate investment opportunities in the uranium industry. The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading.

Forward Looking Information

Certain statements in this news release may constitute "forward-looking information", including those regarding the intended use of proceeds raised from the Offering. Forward-looking information includes statements that address or discuss activities, events or developments that the Company expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking information. Statements constituting forward-looking information reflect the current expectations and beliefs of the Company's management. These statements involve significant uncertainties, known and unknown risks, uncertainties and other factors and, therefore, actual results, performance or achievements of the Company and its industry may be materially different from those implied by such forward-looking statements. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from such forward-looking information, including, without limitation, risks inherent to royalty companies, uranium price volatility, risks related to the operators of the projects underlying the Company's existing and proposed interests and those other risks described in filings with Canadian securities regulators and the U.S. Securities and Exchange Commission. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking information and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.

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

SOURCE Uranium Royalty Corp.

View original content: http://www.newswire.ca/en/releases/archive/May2021/20/c6952.html

NYSE American Symbol – UEC

CORPUS CHRISTI, Texas, May 20, 2021 /CNW/ – Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to report recent increases in its physical and equity uranium holdings.

The Company has acquired an additional 200,000 pounds of U.S. warehoused uranium. UEC's physical uranium initiative is fully funded with cash on hand and now includes 2.305 million pounds of U.S. warehoused uranium at a volume weighted average price of ~$30 per pound with various delivery dates out to June 2023.

The Company has also acquired an additional 1,000,000 common shares of Uranium Royalty Corp ("URC") (TSXV: URC, Nasdaq: UROY) in order to maintain its existing strategic ownership position in URC. The Company completed the subscription under a recent bought deal financing which was completed by URC comprised of 6,100,000 common shares at a price of C$4.10 per share for gross proceeds of C$25.0 million. Following this closing, UEC now owns 15 million shares of URC at an average cost base of C$1.09 per share.

Following the closing of the latest physical and equity acquisitions by UEC, the Company now has over $115 million in cash, equity and inventory holdings.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration company. As a leading pure-play American uranium company, UEC is advancing the next generation of low-cost and environmentally friendly In-Situ Recovery (ISR) mining uranium projects. In South Texas, the Company's hub-and-spoke operations are anchored by our fully-licensed Hobson Processing Facility which is central to our Palangana, Burke Hollow, Goliad and other ISR pipeline projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company's diversified holdings provide exposure to a unique portfolio of uranium related assets, including: 1) major equity stake in the only royalty company in the sector, Uranium Royalty Corp; 2) physical uranium warehoused in the U.S.; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. In Paraguay, the Company owns one of the largest and highest-grade ferro-titanium deposits in the world. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, market and other conditions, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 contained in this news release and in any document referred to in this news release. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

View original content:http://www.prnewswire.com/news-releases/uranium-energy-corp-increases-physical-and-equity-uranium-holdings-301296010.html

SOURCE Uranium Energy Corp

View original content: http://www.newswire.ca/en/releases/archive/May2021/20/c9305.html

Highlights:

• The Surebet Zone is exposed at surface for 1000 meters of strike with 500 meters of vertical relief and 1000 meters of inferred down dip extension that remains open in all directions.

• The Surebet Zone has an average true width of 9.84 meters and grade of 10.68 g/t AuEq (7.59 g/t Au), channel highlights include:

  • 13.05 g/t AuEq over 15.1 meters true width

  • 14.11 g/t AuEq over 10.0 meters true width

• ~ 5000 meter inaugural drill program from 14 separate drill pads planned to target the extensive high-grade gold-silver structure discovery exposed at surface along strike and to depth.

• Surebet Zone 3D Model & Proposed Drill Locations Video (Click Here).

TORONTO, May 20, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report it has mobilized for its inaugural diamond drill program at its 100% controlled Golddigger Project. It is designed to trace the high-grade gold-silver zone exposed at surface along strike and to depth at the Surebet Zone discovery. This new discovery is in a world class geological setting near Stewart, B.C. in the Golden Triangle of British Columbia. Both the Homestake Ridge deposit and Dolly Varden Silver mine are close in proximity.

Goliath has planned for a ~ 5000 meter drill program from 14 separate drill pads to target the extensive high-grade gold-silver structure discovery exposed at surface at the Surebet Zone both along strike and to depth. It has 1000 meters of strike length, 500 meters of vertical relief and 1000 meters of inferred down dip extent. The drilling will focus on high-grade gold-silver mineralization zone exposed at surface over 1000 meters of strike averaging 9.84 meters wide at 10.68 g/t AuEq (7.59 g/t Au) and remains open (see Company news release dated November 25, 2020).

The newly discovered Surebet Zone is located ~8 kilometers S.W. of Fury Gold’s Homestake Ridge property which is a high-grade gold-silver deposit that contains 982,700 oz of gold @ 4.99 g/t Au and 19,600,000 oz of silver @ 97.7 g/t Ag, with drill intercepts of up to 73 meters of 21 grams per tonne gold and 12 grams per tonne silver (source – Fury Gold) (Link to Map).

Mr. Roger Rosmus, CEO of Goliath, states: “We are very excited to have mobilized for our first ever drill program at our newly discovered Surebet Zone. This new discovery has significant untapped potential with multiple strong drill targets along a 1 km strike length at surface targeting high-grade gold-silver over significant widths in channel cuts, that remains open. The Golddigger property is in a key geologic setting where many world-class deposits have been discovered. It has all the early indicators to quickly turn into the next big high-grade gold-silver deposit. The Surebet Zone potential has been compared to the past producing high-grade Silbak Premier Mine just to the north, having very similar geology and vein widths. We look forward to reporting drill results with much anticipation.”

Dr. Quinton Hennigh, technical advisor to Goliath, commented: “The geology of the Surebet Zone bears striking resemblance to several other notable precious metal-rich epigenetic deposits in the vicinity of the southern apex of the Golden Triangle. The nearby Homestake Ridge deposit is one, but I also see similarities to veins mined at the famous high-grade Premier mine further north. Perhaps most notably, the thickness and apparent continuity of the Surebet Zone is robust like early veins mined at Premier beginning in the 1990’s. Our drill program is designed to test shallow, down-dip projections of the mineralized zone first but also aggressively tackle deeper reaches of the vein later in the season. By the end of this drill program, I think we will develop a definitive picture of what we have. It will be very exciting to see this drill begin turning in a few weeks.”

Golddigger Property

The Golddigger property is 23,859 hectares (59,646 acres) and in a world class geological setting. It is located on tide water 30 kilometers south east of Stewart B.C. in the prolific Golden Triangle and only 7km west of the Dolly Varden Mine access road providing for cost effective exploration (Link to Claim Map).

The newly discovered Surebet Zone is located ~8 kilometers S.W. of Fury Gold’s Homestake Ridge deposit, a high-grade gold-silver resource estimate (M&I) that contains 982,700 oz of gold @ 4.99 g/t gold and 19,600,000 oz of silver @ 97.7 g/t silver, with drill intercepts of up to 73 meters of 21 g/t gold and 12 g/t silver (source – Fury Gold’s PEA & Website) (Link to Regional Map).

Multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 gpt gold equivalent (AuEq) and 7.59 grams per tonne gold (gpt Au) with 1 kilometer (1000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

The Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill program. The high-grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying less than 0.5 g/t AuEq (Link to news November 25, 2020).

The Surebet Zone is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2km of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square km area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Other

All rock, channel and talus fine samples were crushed and pulverized at MSALABS's laboratory in Terrace, B.C. MSALABS is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay and metallic screen fire assay in Langley, B.C. The pulps were also assayed using multi-element aqua regia digestion at MSALABS's laboratory in Langley, B.C. The coarse reject portions of the rock samples, as well as the pulps, were shipped to Goliath Resources Ltd.’s storage facility in Terrace, B.C. All samples were analyzed using MSALABS's assay procedure ICP-130, a 1:1:1 aqua regia digestion with inductively-coupled plasma atomic emission spectrometry (ICP-AES) or inductively-coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the FAS-121 lead collection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 ppm for silver or 10,000 ppm copper, lead and zinc were additionally assayed using MSALABS's ICA-6xx method particular to each element. This method used an HNO3-HCl digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the FAS-425 method which includes a fire-assay fusion procedure with a gravimetric finish. Samples with Au greater than 5 ppm were additionally analyzed using metallic screen fire assay with MSALABS’s MSC-150 or MSC-350 method. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence.

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
President and Chief Executive Officer
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Vancouver, British Columbia–(Newsfile Corp. – May 20, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce that two additional nominees will be proposed for election to the Company's board of directors at its 2021 Annual General Meeting of Shareholders of the Company, scheduled for June 30, 2021. Ms. Sunny Lowe and Mr. Henrik Lundin are being nominated as new independent directors of the board along with the existing five directors who will stand for re-election. If all nominees are elected, the board would expand to seven directors, five of whom would be independent.

Ms. Sunny Lowe – Ms. Lowe is a CPA and CA with more than 20 years of finance, international tax and risk management experience mostly spent in the mining sector. Ms. Lowe is currently the Chief Financial Officer of INV Metals Inc., an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Prior to joining INV Metals, Ms. Lowe was with Kinross Gold Corporation, first as Vice President, Internal Audit & Enterprise Risk Management, and then as Vice President, Finance, overseeing the company's External Financial Reporting and Corporate Controllership functions. Ms. Lowe also worked at Inmet Mining Corporation where she held leadership roles across functions including Enterprise Risk Management, Global Taxation & Compliance, and Business Systems & Controls. Ms. Lowe obtained her CPA, CA designation while working at Ernst & Young LLP and an MBA from the Schulich School of Business.

Mr. Henrik Lundin – Mr. Lundin has considerable global experience in the natural resource sector. He has a particularly strong understanding of the technical and business aspects of the oil and gas industry. Currently Mr. Lundin is the Chairman of Gold Line Resources Ltd., a Fennoscandia focused gold exploration company, as well as a Senior Reservoir Engineer at Lundin Energy AB. Formerly, Mr. Lundin held the position of COO of TAG Oil Ltd and was responsible for the global operations and led the farm-in/farm-out processes in Australia and New Zealand. Mr. Lundin is a Swedish citizen and has a B.Sc. Petroleum Engineering degree from the Colorado School of Mines in Golden, Colorado.

About EMX. EMX is a precious, base, and battery metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX. See www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain "forward-looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended March 31, 2021 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84708

TORONTO, May 20, 2021 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that in connection with the annual meeting of the Company`s shareholders (the “Meeting”), that due to the ongoing COVID-19 pandemic was held virtually on May 20, 2021, and in accordance with TSX reporting requirements, the following voting results were obtained.

A total of 99,517,667 common shares representing 59.63% of the Company`s issued and outstanding common shares were voted in connection with the Meeting. Shareholders voted in favour of the election of the six director nominees as follows:

Shareholders also voted in favour of the other item of business considered at the Meeting, being the re-appointment of BDO Audit (WA) Pty Ltd. as the Company’s auditors. Pursuant to Section 11.3 of National Instrument 51-102, the Company filed a “Report of Voting Results” on May 20, 2021, under the Company’s filings on SEDAR (www.sedar.com).

About Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium development company with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company website. Shares outstanding: 166.9m

For additional information please contact:

Jorge Estepa, Corporate Secretary
Telephone: (416) 818-4035 or Email: je@forsysmetals.com

Every investor in Petra Diamonds Limited (LON:PDL) should be aware of the most powerful shareholder groups. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. We also tend to see lower insider ownership in companies that were previously publicly owned.

Petra Diamonds is a smaller company with a market capitalization of UK£140m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Petra Diamonds.

Check out our latest analysis for Petra Diamonds

What Does The Institutional Ownership Tell Us About Petra Diamonds?

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

We can see that Petra Diamonds does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Petra Diamonds, (below). Of course, keep in mind that there are other factors to consider, too.

Our data indicates that hedge funds own 12% of Petra Diamonds. That worth noting, since hedge funds are often quite active investors, who may try to influence management. Many want to see value creation (and a higher share price) in the short term or medium term. Vontobel Asset Management S.A. is currently the largest shareholder, with 18% of shares outstanding. Monarch Alternative Capital LP is the second largest shareholder owning 12% of common stock, and Invesco Ltd. holds about 8.4% of the company stock.

To make our study more interesting, we found that the top 5 shareholders control more than half of the company which implies that this group has considerable sway over the company's decision-making.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Petra Diamonds

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Our data cannot confirm that board members are holding shares personally. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. A good next step would be to check how much the CEO is paid.

General Public Ownership

With a 47% ownership, the general public have some degree of sway over Petra Diamonds. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 1 warning sign for Petra Diamonds you should be aware of.

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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

This article by Simply Wall St is general in nature. 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, ON / ACCESSWIRE / May 20, 2021 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to announce that at its Annual and Special Meeting of shareholders held on May 20, 2021, the following directors were elected: James M. Bruchs, Thomas S. Bruington, Jonathan R. Kelafant, Blackie Marole and Mark Scowcroft.

The shareholders also approved the appointment of Crowe MacKay LLP, Vancouver, Canada, as auditors of the Company and voted to increase the number of shares reserved for issuance under the Company's Stock Option Plan to 9,830,420 to reflect an amount equal to 20% of the outstanding common shares issued as at the date of Shareholder approval,

Grant of Stock Options

Under the terms of its Stock Option Plan, Tsodilo granted option to directors, employees and consultants to purchase an aggregate of 650,000 common shares of Tsodilo exercisable at CDN$ 0.75. These options vest as to 25% effective May 21, 2021, and 25% on each of the sixth, twelfth and eighteenth month anniversaries of the date of the grant. The options are valid for five years.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana and its Idada 361 (Pty) Limited ("Idada") project in Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. The Company has a 100% interest in its Newdico industrial stone project located in Botswana's Central District. Additionally, Tsodilo has a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold and silver exploration license in the Barberton area of South Africa. Tsodilo manages the exploration of the Newdico, Gcwihaba, Bosoto and Idada projects. Overall supervision of the Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager and Chief Geologist of the Company and a "qualified person" as such term is defined in National Instrument 43-101.

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

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

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

FOR FURTHER INFORMATION PLEASE CONTACT:

SOURCE: Tsodilo Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/648478/Tsodilo-Resources-Limited-Annual-and-Special-Meeting-Results

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

VANCOUVER, BC / ACCESSWIRE / May 20, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce that it has completed its previously announced non-brokered private placement (the "Offering"), as described in its News Release dated April 21, 2021, pursuant to which it has issued an aggregate of 7,836,657 units (each, a "Unit") at a price of $0.33 per Unit for gross proceeds of $2,586,097. The Offering was oversubscribed by $586,097. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one additional Share at a price of $0.44 per Share for a period of five years from the closing date.

The Company paid cash finder's fees of $85,661.40 and issued 255,920 finder's warrants (each, a "Finder's Warrant") to certain finders in connection with the Offering. The Finder's Warrants have the same terms and conditions as the Warrants.

The aggregate gross proceeds from the sale of the Offering will be used to advance the developments of the Ashram REE/ Fluorspar Deposit and for general working capital.

The securities issued under the Offering, and the shares that may be issuable on exercise of the Warrants and the Finder's Warrants, are subject to a statutory hold period expiring four months and one day from the date of closing.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets. Commerce Resources also owns the Blue River Tantalum & Niobium project in British Columbia, with the Upper Fir Deposit, which has a significant defined resource and a positive PEA released in 2011. For more information, please visit: https://www.commerceresources.com

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

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

SOURCE: Commerce Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/648488/Commerce-Resources-Corp-Announces-Closing-of-Private-Placement

TORONTO, May 20, 2021 /CNW/ – Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") today announced that it has commenced drilling at its 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. The Red Willow project is 40,116 hectares in size and located close to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

"This will prove to be a very busy year in the field" said Scott Frostad, Purepoint's VP Exploration. "The Spring drill program has commenced at our Red Willow project and will allow us to begin reprioritizing many of the exploration targets we have previously defined across this large land package."

Highlights

• Beginning at the Osprey Zone, Purepoint intends to drill approximately 1,200 metres at Red Willow during this program

• Depending on conditions and results, the Company hopes to also test the Geneva and 333 Zones

• A Technical Report on the project can be obtained from the Company's web site

• A video tour of the Red Willow project can be viewed at https://youtu.be/5Rte6E3Ht7g

Osprey Zone

Drilling on the Osprey Zone conductor has discovered a lens of uranium mineralization that returned up to 0.20% eU3O8 over 5.8 metres from a shallow depth of 70 metres. The 6-kilometre long "S"-shaped Osprey conductor continues to have excellent exploration potential at depth, both below the known mineralized zone and towards the west.

The 2021 drill program will begin at the fold hinge of the Osprey conductor following up on a fence of three holes where Purepoint (2008) intersected a vertical, weakly radioactive fault zone (Hinge Fault) associated with strong chlorite and hematite alteration and intervals of lost core. The Hinge Fault returned 138 ppm U over 0.6 metres between 75.7 and 76.3 metres from hole RW-29. The follow-up hole RW-41, drilled below RW-29, intersected 358 ppm U over 0.4 metres between 159.1 and 159.5 metres. Alteration of the basement rocks increases along the northern fold limb towards the fold nose where one of the three holes drilled, RW-28, encountered strong clay alteration.

Geneva Zone

The Geneva Zone represents a priority target based on ground geophysics and first pass drilling. Historic drilling by Eldorado Resources Ltd (Eldorado) intersected very strong basement alteration and anomalous radioactivity in the Geneva Zone. Although Eldorado completed numerous holes in the area, most were stopped at shallow depths into the basement rock.

333 Zone

In 1975, Gulf Minerals Canada Ltd. (Gulf) carried out a regional, reverse circulation (RC) overburden drilling program across most of the eastern Athabasca Basin. Over 350 overburden holes were drilled with the most anomalous hole being located on the Red Willow property; hole #333 returning an assay of 0.31% U3O8. Gulf recommended additional RC drilling to trace the uranium-rich overburden to its source, but that follow-up work was not completed.

Based on geophysical results performed by Purepoint, the source of the anomalous till may be a newly outlined EM conductor that lies only 200 metres northeast of drill hole #333. The strong conductor trends north-south, is 1.1 kilometres in length and appears to be crosscut by a northeast trending fault.

Red Willow Project

The 100% owned Red Willow property is situated on the eastern edge of the Athabasca Basin in Northern Saskatchewan, Canada and consists of 17 mineral claims having a total area of 40,116 hectares. The property is located close to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

Geophysical surveys conducted by Purepoint at Red Willow have included airborne magnetic and electromagnetic (VTEM) surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic results that are an excellent base on which to interpret structures while the EM results outlined over 70 kilometres of conductors that in most instances represent favourable graphitic lithology. A total of twenty-one conductive zones have been identified as priority exploration targets of which only seven have been subject to first pass drilling.

About Purepoint

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

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

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

Disclosure regarding forward-looking statements

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

View original content to download multimedia:http://www.prnewswire.com/news-releases/purepoint-uranium-begins-drilling-at-red-willow-project-301295529.html

SOURCE Purepoint Uranium Group Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/20/c7788.html

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

VANCOUVER, BC / ACCESSWIRE / May 20, 2021 /Great Atlantic Resources Corp. (TSXV:GR) (the "Company" or "Great Atlantic"), is pleased to announce a non-brokered private placement offering (the "Private Placement") for aggregate gross proceeds of approximately $2,060,000, consisting of: (i) $1,360,000 in flow-through units of the Company (the "FTUnits") at a price of $0.68 per FT Unit, and (ii) $700,000 in units of the Company (the "Units") at a price of $0.50 per Unit. Subject to and concurrently with the completion of the Private Placement, Mr. Eric Sprott has agreed to be a back-end purchaser of common shares of the Company issued in connection with the Private Placement through 2176423 Ontario Ltd., a corporation which is beneficially owned by him.

Each FT Unit shall be comprised of one common share of the Company that will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") (a "FT Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Unit shall be comprised of one common share of the Company (a "Common Share") and one Warrant. Each Warrant shall entitle the holder thereof to purchase one Common (a "Warrant Share") at an exercise price equal to $0.75 at any time up to 36 months from closing of the Private Placement.

The gross proceeds from the sale of FT Units (other than the minimal amount allocable to the Warrants) will be used for exploration expenses on the Company's mining projects as permitted under the Income Tax Act (Canada) to qualify as Canadian Exploration Expenses ("CEE") as defined in the Tax Act.

The FT Common Shares, Common Shares and the Warrant Shares to be issued under the Offering will have a hold period of four months and one day closing of the Private Placement.

In connection with the Private Placement, the Company may pay a finder's fee in cash, broker warrants, and/or Units on the same price and terms pursuant to the Private Placement in accordance with the policies of the TSX Venture Exchange.

The issuance of the FT Units and payment of the finder's fee is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

On Behalf of the board of directors

"Christopher R Anderson"

Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 – Dir

Investor Relations:
Please call 604-488-3900

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

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

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.

Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/648295/Great-Atlantic-Announces-20-Million-Private-Placement-Backed-by-Mr-Eric-Sprott

The solid performance at Imperial Metals Corporation (TSE:III) has been impressive and shareholders will probably be pleased to know that CEO J. Kynoch has delivered. This would be kept in mind at the upcoming AGM on 26 May 2021 which will be a chance for them to hear the board review the financial results, discuss future company strategy and vote on resolutions such as executive remuneration and other matters. We think the CEO has done a pretty decent job and probably deserves a well-earned pay rise.

View our latest analysis for Imperial Metals

How Does Total Compensation For J. Kynoch Compare With Other Companies In The Industry?

At the time of writing, our data shows that Imperial Metals Corporation has a market capitalization of CA$659m, and reported total annual CEO compensation of CA$511k for the year to December 2020. Notably, that's an increase of 11% over the year before. While this analysis focuses on total compensation, it's worth acknowledging that the salary portion is lower, valued at CA$244k.

On comparing similar companies from the same industry with market caps ranging from CA$241m to CA$964m, we found that the median CEO total compensation was CA$750k. That is to say, J. Kynoch is paid under the industry median. What's more, J. Kynoch holds CA$6.8m worth of shares in the company in their own name, indicating that they have a lot of skin in the game.

On an industry level, around 94% of total compensation represents salary and 6% is other remuneration. In Imperial Metals' case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. It's important to note that a slant towards non-salary compensation suggests that total pay is tied to the company's performance.

Imperial Metals Corporation's Growth

Imperial Metals Corporation has seen its earnings per share (EPS) increase by 17% a year over the past three years. In the last year, its revenue is up 78%.

Shareholders would be glad to know that the company has improved itself over the last few years. The combination of strong revenue growth with medium-term EPS improvement certainly points to the kind of growth we like to see. Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow.

Has Imperial Metals Corporation Been A Good Investment?

Boasting a total shareholder return of 174% over three years, Imperial Metals Corporation has done well by shareholders. So they may not be at all concerned if the CEO were to be paid more than is normal for companies around the same size.

In Summary…

Given the improved performance, shareholders may be more forgiving of CEO compensation in the upcoming AGM. However, despite the strong growth in earnings and share price growth, the focus for shareholders would be how the company plans to steer the company towards sustainable profitability in the near future.

While CEO pay is an important factor to be aware of, there are other areas that investors should be mindful of as well. We did our research and spotted 1 warning sign for Imperial Metals that investors should look into moving forward.

Important note: Imperial Metals is an exciting stock, but we understand investors may be looking for an unencumbered balance sheet and blockbuster returns. You might find something better in this list of interesting companies with high ROE and low debt.

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

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

VANCOUVER, British Columbia, May 19, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to announce that Ms. Christine Nicolau has been appointed to the board of directors of Candente Copper, representing Fortescue Metals Group Ltd (“Fortescue”) who has an 18.9% shareholding in the Company. Ms. Nicolau replaces Fortescue’s current board representative, Mr. Agustin Pichot, who has stepped down from the board due to other commitments.

Ms. Nicolau is the General Manager of Metals, Latin America, for Fortescue. Ms. Nicolau is responsible for Fortescue’s South American minerals business including exploration, project development and other growth activities. She is also responsible for the identification of metals growth opportunities across the South America region.

Ms. Nicolau has been with Fortescue for over 10 years. During this time, Ms. Nicolau has held a range of management positions across Australia and South America including, Manager Corporate Development of Fortescue from September 2015 to 2018. Ms. Nicolau is based in Buenos Aires, Argentina.

The Company would also like to advise that the Desk Top Conceptual Study (“Study”) underway by Ausenco is nearing completion and expected to be completed within 10 days. “We are very excited to know all the opportunities Cañariaco has both to be built as a smaller project for a lower initial capital expenditure (“CapEx”) and also other aspects which could benefit a larger project,” stated Joanne Freeze, President and CEO.

For more details about the Study, please see News Releases No. 127 and 129: https://www.candentecopper.com/news-releases/news-releases/2021/

Ausenco has a 30-year track record and is recognised as specialists in end-to-end solutions which are proven to lower capital and operating costs, reduce construction time and improve plant efficiencies. They perform consulting studies, project delivery, and asset operations to the international mining sector including high performance copper processing and infrastructure projects. Project experience ranges from small conceptual studies for new developments through to the construction of large scale minerals processing facilities.

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

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

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

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

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

On behalf of the Board of Candente Copper Corp.

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

info@candentecopper.com
www.candentecopper.com

NR-130

Not for distribution to U.S. Newswire Services or for dissemination in the United States

TORONTO, ON / ACCESSWIRE / May 19, 2021 / Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce the first closing of a non-brokered private placement offering of up to 3,750,000 working capital units (the "WC Units") of the Company at a price of $0.08 per WC Unit for up to $300,000 (the "Offering"). See Bold press release dated May 13, 2021.

The first tranche consists of 1,300,000 WC Units for proceeds totalling $104,000. The Company paid commission equal to $4,060 cash and 50,750 Broker Warrants to qualified finders in connection with the Offering. Each Broker Warrant is comprised of a unit consisting of a share and one-half (0.5) warrant. A full warrant and 15 cents will acquire an additional common share for a period of two (2) years from the date of closing. The Offering will remain open until May 28, 2021 or until fully subscribed or such other time as the Company may elect, subject to regulatory approval. The securities issued are subject to a hold period expiring on September 19, 2021.

The Offering
Each WC Unit comprises one (1) common share of the Company priced at $0.08 and one-half (0.5) of a common share purchase warrant with each full warrant (a "WC Warrant") entitling the holder to acquire one (1) common share at a price of $0.15 until two (2) years following the closing of the Offering. The proceeds from the Offering will be used for general working capital, property acquisition, exploration and expenses of the offering.

In connection with the WC Offering, the Company may pay a finder's fee to qualified finders in consideration for their assistance with the Offering. The finder's fees may be payable in cash and or securities of Bold at the discretion of the Company and in accordance with the rules of the TSXV.

All securities to be issued pursuant to the Offering are subject to a statutory four-month and one-day hold period and regulatory approval.

Please visit the Bold website at www.boldventuresinc.com and see our recent news and project information.

For additional information, contact 416-864-1456 or email info@boldventuresinc.com.

About Bold Ventures Inc.
The Company explores for Gold and Base Metals in Canada. Bold is exploring properties located within active gold camps of Northern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects, please visit www.boldventuresinc.com, contact us at 416-864-1456 or email us at info@boldventuresinc.com.

"David B Graham"
David Graham
President and CEO

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

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Bold Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/648040/Bold-Ventures-Announces-First-Closing-of-Non-Brokered-Private-Placement

TORONTO (Reuters) -Canadian copper miner First Quantum Minerals on Wednesday said it agreed to sell a 30% stake in its Ravensthorpe nickel mine in Western Australia to South Korean steel maker POSCO for $240 million.

First Quantum said it and Posco have also agreed to evaluate a strategic partnership to produce battery precursor materials from production at the mine.

Under the deal, POSCO will receive a long-term offtake agreement for 7,500 tonnes of nickel in mixed nickel-cobalt hydroxide precipitate per year produced at Ravensthorpe, beginning in 2024.

Ravensthorpe is a large-scale, open pit nickel and cobalt operation located in Western Australia. Nickel production last year was 12,695 tonnes.

First Quantum said proceeds would repay debt.

The deal is subject to approval by the Australian Foreign Investment Review Board and is expected to close in the third quarter of 2021.

(Reporting by Jeff Lewis; Editing by Andrea Ricci)

Investors in Peabody Energy Corporation BTU need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 18, 2021 $9.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?

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TORONTO, May 19, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM) today announced that it has entered into a binding agreement to sell a 30% equity interest in the Ravensthorpe Nickel Operation (“Ravensthorpe”) in Western Australia for cash consideration of $240 million to POSCO, one of the world’s largest steel producers (the “Transaction”). First Quantum will retain a 70% interest in Ravensthorpe and continue to be the operator. The proceeds of the transaction will be used to reduce the Company’s debt. In addition to the Transaction, POSCO and First Quantum have also agreed to evaluate a strategic partnership to produce battery precursor materials from production at Ravensthorpe.

TRANSACTION SUMMARY

Under the terms of the Transaction, POSCO will acquire a 30% equity interest in Ravensthorpe for cash consideration of $240 million. POSCO will be provided with a long-term offtake agreement for 7,500 tonnes of nickel in mixed nickel-cobalt hydroxide precipitate (“MHP”) per year produced at Ravensthorpe, beginning in 2024. The balance of Ravensthorpe’s production will continue to be marketed by First Quantum. The Transaction is subject to certain conditions including approval by the Australian Foreign Investment Review Board (“FIRB”). The transaction is expected to close sometime in the third quarter of 2021. The proceeds of the Transaction will be applied to the outstanding amount on the Company’s revolving credit facility, continuing the Company’s debt reduction.

STRATEGIC PARTNERSHIP

POSCO is South Korea’s largest, and the world’s fourth largest, steel producer. POSCO is also a leading integrated producer of cathode and anode materials for the electric vehicle (“EV”) battery sector and is undertaking an expansion of its secondary battery material business for which Ravensthorpe will provide a portion of the feed.

As part of the Transaction, First Quantum and POSCO have also entered into a Memorandum of Understanding (“MoU”) to explore a partnership to produce battery cathode precursor materials, likely in the form of nickel sulphate, by utilizing the MHP from Ravensthorpe. First Quantum and POSCO will work together over the coming months to advance this potential partnership.

“We are pleased to welcome POSCO as our new long-term strategic partner in Ravensthorpe,” Philip Pascall, Chairman and CEO said. “Our respective organizations have complementary skillsets which will allow us to maximize the strategic value of Ravensthorpe as a key long-term supplier of nickel to the EV battery sector. We look forward to working closely with POSCO at Ravensthorpe and exploring options to broaden our relationship.”

ABOUT RAVENSTHORPE

Ravensthorpe is a large-scale, open pit nickel and cobalt operation located in Western Australia, 150km west of Esperance. Ravensthorpe produces a high quality MHP which is a sought-after feedstock for the production of EV battery cathode materials. Following a successful restart of operations in the first quarter of 2020, the mine is now transitioning to the Shoemaker Levy deposit which will provide stable feed to the plant for the next twenty years. Completion of construction and commissioning works at Shoemaker Levy, including a 10km conveyor, is expected this quarter.

Ravensthorpe is strategically-positioned as a clean, sustainable source of nickel for the EV battery value chain with industry leading ESG credentials and a small carbon emissions footprint.

These features are expected to become increasingly important to brand name manufacturers of EVs and include:

• Unique integrated design, including power generation using waste heat from the onsite acid plant, allowing Ravensthorpe to be self-sufficient with respect to power and water;

• Adherence to best in class water and discharge management with a closed water balance and zero discharge;

• Tailings storage facilities designed and built in accordance with the highest international standards;

• Ravensthorpe provides a supply of cobalt from an established mining jurisdiction with stringent ESG regulations;

• The ore from the newly accessed Shoemaker Levy deposit will be transported by overland conveyor to Ravensthorpe’s existing processing facility, further reducing reliance on the diesel haul truck fleet; and

• Potential to utilize renewable energy technologies within the current operational footprint.

OUR NICKEL BUSINESS

First Quantum has significant nickel resources which complement its world-class copper operations, underpinned by Ravensthorpe and the Enterprise Nickel Project in Zambia. Enterprise is a 100% owned, largely-constructed, high grade nickel sulphide project located 15km from the Company’s Sentinel Mine. The 4 million tonne per year process plant for Enterprise was completed in 2016 and was temporarily used to process copper ore during the commissioning of Sentinel. Enterprise is expected to produce an average of 28,000 tonnes of nickel concentrate per year over the estimated 11-year mine life. It is anticipated that Enterprise’s high grade concentrate will be suitable to feed into the battery metals supply chain. Dewatering and preliminary pre-strip works will commence at Enterprise in 2021 in anticipation of the Company making a final decision to proceed with the project later this year.

ADVISORS

Standard Chartered Bank served as financial advisor and MinterEllison served as legal advisor to the Company for the purpose of the Transaction.

For further information, visit our website at www.first-quantum.com or contact:
Lisa Doddridge, Director, Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: info@fqml.com

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements include estimates, forecasts and statements as to the Company’s expectations of production and sales volumes, and expected timing of completion of project development at Enterprise and post-completion construction activity at Cobre Panama and are subject to the impact of ore grades on future production, the potential of production disruptions, potential production, operational, labour or marketing disruptions as a result of the COVID-19 global pandemic (including but not limited to the temporary suspension of labour activities at Cobre Panama implemented in April 2020), capital expenditure and mine production costs, the outcome of mine permitting, other required permitting, the outcome of legal proceedings which involve the Company, information with respect to the future price of copper, gold, nickel, silver, iron, cobalt, pyrite, zinc and sulphuric acid, estimated mineral reserves and mineral resources, First Quantum’s exploration and development program, estimated future expenses, exploration and development capital requirements, the Company’s hedging policy, and goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about continuing production at all operating facilities, the price of copper, gold, nickel, silver, iron, cobalt, pyrite, zinc and sulphuric acid, anticipated costs and expenditures and the ability to achieve the Company’s goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, future production volumes and costs, the temporary or permanent closure of uneconomic operations, costs for inputs such as oil, power and sulphur, political stability in Zambia, Peru, Mauritania, Finland, Spain, Turkey, Panama, Argentina and Australia, adverse weather conditions in Zambia, Finland, Spain, Turkey, Mauritania, Australia and Panama, labour disruptions, potential social and environmental challenges (including the impact of climate change), power supply, mechanical failures, water supply, procurement and delivery of parts and supplies to the operations, the production of off-spec material and events generally impacting global economic, political and social stability.

See the Company’s Annual Information Form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum’s control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein are qualified by this cautionary statement.

(Bloomberg) — In a sign of South America’s shifting political winds, a billionaire mining clan is holding off on new investments in Chile because of country risk while looking to move forward with a huge spend in Argentina.

Lundin Mining Corp., which recently spent $1 billion upgrading its copper operation in Chile, will monitor potential rule changes in the country before proceeding with an estimated $500 million underground expansion there, said Chairman Lukas Lundin. Across the Andes in San Juan, the Swedish-Canadian group is in talks with Argentine officials about a multibillion-dollar project.

Favorable and stable rules and giant deposits have seen Chile become the dominant supplier in global copper, while Argentina’s volatile and unorthodox politics have limited development of its vast mineral wealth. That risk divide may be about to narrow after Chile elected an assembly that places the writing of a new constitution largely in the hands of the left wing, leaving mines vulnerable to tougher rules. The weekend vote may also add momentum to a bill to create one of the industry’s heaviest tax burdens.

The prospect of a more onerous operating environment in Chile is giving the industry pause just as the world is clamoring for more copper in a nascent green-energy transformation. For Lundin, it comes as the company wraps up studies into an underground expansion.

“We’re going to wait and see before we put too much money into it and I’m sure everybody else is doing the same,” Lundin said in an interview Tuesday. “If there is too much uncertainty in the next year, year and a half, obviously we won’t push the button.”

The regulatory headwinds in Chile stem from efforts to address lingering inequalities that spurred the worst social unrest in a generation. Tensions have been exacerbated by the pandemic and record-high copper prices. To be sure, the constitutional process will last a year and foreign mining companies have stability agreements that protect them from tax changes through at least 2023.

“Countries want higher income, I understand that,” Lundin said. “But if you tax too much it’s very hard to reinvest again.”

In Argentina, the group whose stakes in mining and energy businesses around the world total about $4.3 billion, is looking to develop deposits that have just generated “some spectacular drill results,” Lundin said.

The group’s Josemaria Resources Inc., led by Lukas’ son Adam, is negotiating terms with authorities after submitting an environmental and social impact assessment in February. Another Lundin unit is drilling the Filo del Sol deposit. The larger of the two San Juan projects would be a copper-silver-gold operation of at least the size of Lundin’s Candelaria mine in Chile and costing $4 billion to $5 billion to build, he said. Argentine officials are “keen” on the project, he said.

Lundin knows Argentina well. He was responsible for the discovery of the giant Veladero deposit now operated by Barrick Gold Inc.

He’s also led plenty of mergers and acquisitions over the years. But even though there’s limited scope for copper producers to accelerate expansions of existing operations, neither are there many vehicles to consolidate right now.

“If something makes sense, we’ll definitely look at it but I don’t see that much M&A happening,” he said.

Limited supply growth opportunities and long lead times for new mines are part of the reason why Lundin says the copper up-cycle could go on for another decade.

Still, he doesn’t want prices to get too high given the demands that could generate. “If the price is like this or a bit lower it’s very good for the industry to give stability and the fire-power to put new projects into production.”

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares in Metallica Minerals Limited (ASX:MLM).

Do Insider Transactions Matter?

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, most countries require that the company discloses such transactions to the market.

Insider transactions are not the most important thing when it comes to long-term investing. 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'.

View our latest analysis for Metallica Minerals

The Last 12 Months Of Insider Transactions At Metallica Minerals

Over the last year, we can see that the biggest insider purchase was by insider Grant Dostal for AU$124k worth of shares, at about AU$0.03 per share. We do like to see buying, but this purchase was made at well below the current price of AU$0.034. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

Metallica Minerals insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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

Insiders at Metallica Minerals Have Bought Stock Recently

Over the last quarter, Metallica Minerals insiders have spent a meaningful amount on shares. Specifically, insider Grant Dostal bought AU$124k worth of shares in that time, and we didn't record any sales whatsoever. This makes one think the business has some good points.

Insider Ownership of Metallica Minerals

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Our data indicates that Metallica Minerals insiders own about AU$1.3m worth of shares (which is 6.4% of the company). 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.

What Might The Insider Transactions At Metallica Minerals Tell Us?

The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Metallica Minerals insiders are expecting a bright future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. At Simply Wall St, we've found that Metallica Minerals has 4 warning signs (2 are concerning!) that deserve your attention before going any further with your analysis.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

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.

Figure 1

Midland-SOQUEM Alliance Labrador Trough

MONTREAL, May 19, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the start of a major exploration program for Cu-Zn-Co-Ag-Au / Zn-Pb-Cu-Ag-Au volcanogenic massive sulphides (VMS) in the Labrador Trough in Nunavik. This new program will be carried out under the Strategic Alliance (the “Alliance”) executed on February 19, 2021 between Midland and SOQUEM.

The 2021 exploration program will consist of two helicopter-borne electromagnetic (“VTEM”) surveys as well as a prospecting program to be conducted in two phases, next June and August.

Highlights:

• New exploration targets for Cu-Zn-Co-Ag-Au / Zn-Pb-Cu-Ag-Au VMS identified during recent compilation work

• Acquisition of 138 claims (63.6 km²)

• Helicopter-borne EM surveys (VTEM) totalling approximately 885 line km

• Prospecting work planned in June and August 2021 within the area of interest

New targets for Cu-Zn-Co-Ag-Au / Zn-Pb-Cu-Ag-Au VMS

Following execution of the agreement with SOQUEM in February 2021, a compilation covering the entire Labrador Trough was undertaken. As a result, historical data from geological mapping, drilling, geophysical surveys and rock and sediment samples were brought together. These data, combined with new insights on the stratigraphy and structure of depositional settings, resulted in the definition of high-potential areas to be targeted by prospecting work in 2021.

The Labrador Trough offers a favourable geological and geochronological setting for the discovery of Cu-Zn-Co-Ag-Au / Zn-Pb-Cu-Ag-Au massive sulphide deposits in mafic-siliciclastic settings. VMS deposits in mafic-siliciclastic settings form, on average, larger deposits than other subcategories of VMS deposits. They also contain high copper, gold and cobalt grades. Previous campaigns of this magnitude focussing on this type of deposit in the Labrador Trough date back at least 20 years.

Acquisition of mining claims within the area of interest

During the first week of April 2021, Midland (50%) and SOQUEM (50%) acquired, by map designation, a total of 138 claims in the Labrador Trough. These claims are divided into three (3) blocks and cover a total surface area of 63.6 km², approximately 95 km west and southwest of the town of Kuujjuaq.

Commencement of electromagnetic VTEM surveys

Two electromagnetic surveys will begin mid-June on recently acquired claim blocks. These VTEM surveys will total approximately 885 line kilometres and will generate geophysical targets for the second phase of prospecting work scheduled to take place in August 2021.

Prospecting programs

A first phase of prospecting within the area of interest will be completed in June 2021. This three (3)-week program will focus on new targets identified during the compilation of historical work.

The second phase of prospecting will take place in August 2021. This three (3)-week program will follow up on geological targets generated in June and on electromagnetic anomalies identified during the VTEM surveys.

About the Strategic Alliance with SOQUEM

The Strategic Alliance enables Midland and SOQUEM to combine their efforts and expertise to jointly explore the excellent potential for gold and strategic minerals of the vast and underexplored Labrador Trough. The area of interest defined under the Alliance is located in Nunavik. Geologically, it covers the Labrador Trough, the Rachel-Laporte Zone and the Kuujjuaq Domain. The area of interest extends from Schefferville in the south up to approximately 100 km northwest of Kangirsuk. This new agreement calls for investments in exploration reaching up to $5 million over a period of four (4) years, with a firm commitment of $3 million within the first two (2) years of the agreement. For 2021, a joint annual budget of $1 million (50% Midland and 50% SOQUEM) has been planned to complete the work program.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Wallbridge Mining Company Ltd, Probe Metals Inc., Agnico Eagle Mines Limited, SOQUEM Inc., Osisko Development Corp., the Nunavik Mineral Exploration Fund and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.

This press release was reviewed and approved by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.

For further information, please consult Midland’s website or contact:

Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com

Website: https://www.midlandexploration.com/

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

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/93dc3318-05c2-498e-a176-18bc5ed653f1

Performance at Greenland Minerals Limited (ASX:GGG) has been reasonably good and CEO John Mair has done a decent job of steering the company in the right direction. As shareholders go into the upcoming AGM on 26 May 2021, CEO compensation will probably not be their focus, but rather the steps management will take to continue the growth momentum. However, some shareholders may still want to keep CEO compensation within reason.

Check out our latest analysis for Greenland Minerals

Comparing Greenland Minerals Limited's CEO Compensation With the industry

According to our data, Greenland Minerals Limited has a market capitalization of AU$119m, and paid its CEO total annual compensation worth AU$413k over the year to December 2020. We note that's an increase of 21% above last year. Notably, the salary which is AU$350.0k, represents most of the total compensation being paid.

On comparing similar-sized companies in the industry with market capitalizations below AU$257m, we found that the median total CEO compensation was AU$303k. This suggests that John Mair is paid more than the median for the industry. What's more, John Mair holds AU$744k worth of shares in the company in their own name.

Talking in terms of the industry, salary represented approximately 69% of total compensation out of all the companies we analyzed, while other remuneration made up 31% of the pie. Greenland Minerals pays out 85% of remuneration in the form of a salary, significantly higher than the industry average. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance.

A Look at Greenland Minerals Limited's Growth Numbers

Over the last three years, Greenland Minerals Limited has not seen its earnings per share change much, though there is a slight positive movement. Its revenue is up 146% over the last year.

It's hard to interpret the strong revenue growth as anything other than a positive. And in that context, the modest EPS improvement certainly isn't shabby. We wouldn't say this is necessarily top notch growth, but it is certainly promising. Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow.

Has Greenland Minerals Limited Been A Good Investment?

Greenland Minerals Limited has not done too badly by shareholders, with a total return of 7.2%, over three years. It would be nice to see that metric improve in the future. Accordingly, a proposal to increase CEO remuneration without seeing an improvement in shareholder returns might not be met favorably by most shareholders.

In Summary…

The company's decent performance might have made most shareholders happy, possibly making CEO remuneration the least of the concerns to be discussed in the upcoming AGM. Still, not all shareholders might be in favor of a pay raise to the CEO, seeing that they are already being paid higher than the industry.

CEO pay is simply one of the many factors that need to be considered while examining business performance. In our study, we found 4 warning signs for Greenland Minerals you should be aware of, and 1 of them can't be ignored.

Switching gears from Greenland Minerals, if you're hunting for a pristine balance sheet and premium returns, this free list of high return, low debt companies is a great place to look.

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.

Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced that pursuant to the plan of arrangement between Fancamp and ScoZinc Mining Ltd. ("ScoZinc"), Fancamp and ScoZinc have executed a secured loan agreement of up to C$250,000, subject to regulatory approval, required to implement the business combination (the "Transaction") associated with the delayed closing date.

The Fancamp loan is secured by all present and after acquired personal property of ScoZinc and its terms include a 12-month loan of up to C$250,000, bearing an interest charge of five percent per annum. An initial amount of C$150,000 will be provided to ScoZinc within five days of this news release. An additional C$100,000 may be provided to ScoZinc on the basis of an expenditure justification.

Fancamp and ScoZinc have also agreed to amend the Arrangement Agreement to extend the outside date by which the Transaction must close to July 2, 2021, and have scheduled the closing for that date.

About the ScoZinc Transaction

The combination of Fancamp and ScoZinc takes two significantly undervalued companies and creates a larger, stronger entity. Fancamp shareholders will emerge from this Transaction with a greatly enhanced opportunity to create value as the combined entity will have a strong cash position, a significant portfolio of projects, greater opportunities for profitable growth, and be better positioned to attract new investments that would not be available at its current size.

On April 20, 2021, ScoZinc received a final order from the British Columbia Supreme Court approving the plan of arrangement with Fancamp.

Advisors

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

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

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

Forward-looking Statements

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

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210519005541/en/

Contacts

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

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

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

Vancouver, British Columbia–(Newsfile Corp. – May 19, 2021) – Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to announce commencement of the DC Resistivity/Induced Polarization ("3DIP") geophysics program and the completion of the airborne Lidar and orthophotography ("Lidar") survey at its Reliance Gold Property (the "Property") in southern British Columbia. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

The 13 line-km 3DIP geophysics program commenced this week with plans to complete the grid-oriented survey by month-end. The 3DIP geophysics survey will cover a 1.2 km by 1.0 km area of prospective mineralization and alteration along the Royal Shear. SJ Geophysics Limited has been contracted to complete the survey. The objective of this survey is to delineate sulphide-associated mineralized zones below and along strike of the Eagle, Imperial, Diplomat and Treasure zones, and to test for new mineralization not exposed near surface along the Royal Shear and the sub-parallel Treasure Shear. The 3DIP program is designed to delineate diamond drill targets within 300 m of surface. Post-processing, inversions, 3D modelling and reporting will follow the completion of the field component.

The LiDAR and digital orthophoto survey has now been completed over the Property. The high-resolution survey will provide a digital elevation model (DEM), bare-earth hill-shade imagery, 15 cm-pixel colour orthophoto, and 1-m topographic contours. All of which will improve geologic interpretation of the property and increase survey control for historic, current and future drilling and geophysical surveys.

2021 reverse circulation ("RC") drilling is still active with the expected completion of between 35 and 40 RC drill holes. A more comprehensive update on the RC drill program will be provided next week. To date, a total of 764 RC samples from 22 holes have been submitted to the laboratory for gold assay and multi-element ICP analysis. Initial gold assays are expected prior to the end of May and results will be reported when received.

ENDURANCE GOLD CORPORATION – Robert T. Boyd

FOR FURTHER INFORMATION, PLEASE CONTACT – Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com – www.endurancegold.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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results. The work program is being supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84509

TORONTO, May 19, 2021 (GLOBE NEWSWIRE) — Innovation Metals Corp. (“IMC” or the “Company”) is pleased to announce the formation of the IMC Technical Advisory Board and associated initial appointments. The Technical Advisory Board is comprised of internationally recognized industry experts and thought leaders, with significant scientific, technical, and market expertise relating to rare-earth elements (“REEs”) and other critical materials.

The Technical Advisory Board will advise and support IMC’s leadership team in making important technical and logistical decisions, as the Company continues to advance the commercialization of IMC’s proprietary RapidSX™ technology, for the economic, commercial-scale separation of both light REEs (“LREEs”) and heavy REEs (“HREEs”).

Technical Advisory Board Appointments
IMC is honoured to announce the following initial expert appointments to the Company’s Technical Advisory Board, effective immediately:

1. Dr. Gisele Azimi

2. Dr. Christian Ekberg

3. Mr. Furkhat Faizulla

4. Dr. V. I. Lakshmanan

Importantly, the Technical Advisory Board will also provide expert advice and support to further demonstrate and validate IMC’s unique separation technology platform for other critical materials too, including lithium (“Li”), nickel (“Ni”) and cobalt (“Co”).

The Technical Advisory Board will formally meet together with IMC’s Board and Senior Officers on a quarterly basis, and the individual members of the Technical Advisory Board will also be available to IMC between meetings as needed for any additional support and advice.

IMC Chairman, Chief Executive Officer and co-founder, Dr. Gareth Hatch, stated, “The creation of our Technical Advisory Board is an important step in the continued advancement of IMC’s objectives. We are delighted to welcome such highly credentialed appointments in Dr. Azimi, Dr. Ekberg, Mr. Faizulla, and Dr. Lakshmanan during this defining period for IMC. They will support and evaluate our technical development and advise on strategic initiatives for future RapidSX applications, in addition to those for REEs. We are very excited and privileged to benefit from such a complementary, yet diverse group of industry experts to further enhance and advance the commercialization of the RapidSX technology. IMC’s ability to attract talent of this caliber underscores the near-term potential for this much-needed technology.”

IMC Technical Advisory Board Members

Dr. Gisele Azimi, P.Eng.
Dr. Azimi is an associate professor at the University of Toronto, jointly appointed by the Departments of Chemical Engineering & Applied Chemistry and Materials Science & Engineering. She is a Canada Research Chair in Urban Mining Innovations and is also a registered Professional Engineer in Ontario. Dr. Azimi’s expertise spans the fields of electrochemistry, extractive metallurgy, materials design and fabrication, materials separation and organic/inorganic chemistry. She received her doctorate from the Department of Chemical Engineering and Applied Chemistry at the University of Toronto in 2010. Prior to her University of Toronto faculty appointment in 2014, Dr. Azimi completed two postdoctoral appointments at the Massachusetts Institute of Technology in the Departments of Materials Science and Engineering and Mechanical Engineering respectively.

Dr. Azimi has been recognized by several ‘young researcher’ awards including the Emerging Leaders of Chemical Engineering Award, the McCharles Prize, the CSChE Innovation Award, the Canadian Journal of Chemical Engineering Lectureship Award, the TMS Young Leaders Award, the Spark Professorship, and the Connaught New Researcher Award. She has been recognized for her teaching and mentorship and received the Burgess Teaching Award. Dr. Azimi established and leads the Laboratory for Strategic Materials, a large and successful research group at the University of Toronto, focused on critical materials.

Dr. Azimi’s research interests include sustainability and advanced materials & manufacturing research themes, with a particular emphasis on advanced recycling and urban mining, and valorization of waste streams to produce strategic materials such as REEs. She has also served as an editor of Rare Metal Technology 2018, Rare Metal Technology 2019, Rare Metal Technology 2020, and Rare Metal Technology 2021.

Dr. Christian Ekberg
Dr. Ekberg is a full professor at Chalmers University of Technology in Gothenburg, Sweden. He has been Stena’s Chair in Industrial Materials Recycling since 2007 and a full professor in nuclear chemistry since 2012. Dr. Ekberg was previously head of the joint Department of Nuclear Chemistry and Industrial Materials Recycling at Chalmers, and is currently leader of the Energy and Materials Division.

Dr. Ekberg began his research at Chalmers with the modeling of chemical systems, focused on uncertainty and sensitivity analysis, and how uncertainties in chemical-model inputs affect the outputs. He later shifted focus to the experimental determination of stability constants, primarily via solvent extraction. After completing a postdoctoral research fellowship at the Australian Nuclear Science and Technology Organization (“ANSTO”), Dr. Ekberg returned to Chalmers and became responsible for research on separation and transmutation nuclear chemistry, while also expanding research on thermodynamics and solvent extraction.

More recently, Dr. Ekberg has broadened the focus of his research to include the production and recyclability of novel innovative nuclear fuels. He was instrumental in founding the Sustainable Nuclear Energy Centre (“SNEC”) at Chalmers and was its scientific leader and later director. He founded the national Competence Centre Recycling (“CCR”) in 2007 and was the first director of the National Swedish Academic Initiative for Nuclear Technology (“SAINT”).

Dr. Ekberg has been a member of the International Steering Committee for the International Solvent Extraction Conference (“ISEC”) since 2013. He has refereed papers for more than a dozen international scientific journals, and is a member of various editorial boards, including for the journal Solvent Extraction and Ion Exchange.

Dr. Ekberg holds a master’s degree in chemical engineering and a Ph.D. degree in nuclear chemistry, both from Chalmers. He has published over 250 scientific papers, numerous reports, and has authored or co-authored 10 books or book chapters, including Hydrolysis of Metal Ions and Waste Electrical and Electronic Equipment (WEEE) Recycling: Research, Development, and Policies in 2016 and Radiochemistry and Nuclear Chemistry in 2013. Dr. Ekberg is an elected member of the Royal Swedish Academy of Engineering Sciences (“IVA”) as well as the Royal Society for Arts and Sciences (“KVVS”).

Mr. Furkhat Faizulla
Mr. Faizulla is a founding member of Advanced Material of Japan Corporation (“AMJC”), one of the largest traders of rare metals in Japan. He has more than 20 years of rare-metal trading and marketing experience, specializing in REEs, tungsten and other critical metals. One of Japan’s leading REE trading companies, AMJC specializes in the procurement and sale of REEs and other critical materials, including tungsten and titanium ore concentrates, oxide and metals. As well as heading AMJC’s North America office, Mr. Faizulla is also Managing Director of his own metals-trading company.

Mr. Faizulla was a co-founder of IMC and served as an Independent Director of IMC from the Company’s inception, until its acquisition by Ucore Rare Metals Inc. in May 2020. Fluent in English, Japanese, Chinese and Uzbek, he holds a bachelor’s degree in Economics from Shanghai Jiao Tong University and a master’s degree in International Business from Hiroshima University.

Dr. V. I. ‘Lucky’ Lakshmanan, CEng, FIMMM, FCAE, FCIM
A long-time friend and colleague of IMC since the Company’s inception, Dr. Lakshmanan is the Chief Executive Officer, Vice Chairman and co-Founder of Process Research ORTECH Inc. (“PRO”), based in Mississauga, Ontario. An internationally renowned teacher, scientist and innovator in the areas of hydrometallurgy and sustainable development, Dr. Lakshmanan is a named inventor on multiple patents and has more than 45 years of hands-on experience in technology development and commercialization, with both private and public sector entities. He moved to Canada in 1974, after serving as a lecturer at the University of Birmingham in the UK. He subsequently held prominent positions in Canada’s engineering/technology sector, with companies such as Noranda, Eldorado Nuclear and ORTECH Corporation. He co-founded PRO in Mississauga in 1999 and has guided it to become a global leader in sustainable process technologies.

Dr Lakshmanan has channeled his passion for community service through numerous initiatives, supporting organizations like the Indo-Canada Chamber of Commerce, the Canada India Business Council, TiE Toronto, and IC-IMPACTS. Dr Lakshmanan is a co-founder and Past Chair of the Canada India Foundation, a public-policy organization, where he organized several sectoral Canada-India public policy forums and was instrumental in three visits to Canada by India’s former President, Dr. Abdul Kalam. Inspired by the late Dr Kalam, he has conducted conferences on Smart Villages at the University of Toronto and has sponsored clean drinking-water systems and a mobile hospital in rural India.

Born and educated in India, Dr. Lakshmanan obtained his Ph.D. in Chemistry from Bombay University and is a Fellow of the Canadian Academy of Engineering and the Canadian Institute of Mining, Metallurgy and Petroleum. He has published more than 150 papers and written several books on science, process engineering and public policy. Dr. Lakshmanan co-authored Innovative Process Development in Metallurgical Industry: Concept to Commission in 2016.

Dr Lakshmanan’s contributions to science and community service have earned him numerous awards and honors, including the Queen Elizabeth II Diamond Jubilee Medal, the Sherritt Hydrometallurgy Award, the MetSoc Environmental Award, the Sir Joseph Flavelle Award for Technical Innovation, and the Lifetime / Outstanding Achievement Award from the Indo-Canadian Chamber of Commerce.

About Innovation Metals Corp.
IMC has developed the proprietary RapidSX™ process, for the low-cost separation and purification of rare-earth elements, Ni, Co, Li and other technology metals, via an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals, to help enable mining and metal-recycling companies to compete in today's global marketplace. IMC is a wholly owned subsidiary of Ucore Rare Metals Inc. (TSXV:UCU) (OTCQX:UURAF).

For more information, please visit www.innovationmetals.com or IMC’s YouTube channel at www.youtube.com/InnovationMetalsCorp.

About the RapidSX™ Technology
IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense (“US DoD”), later resulting in the production of commercial grade, separated rare-earth oxides (“REOs”) at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction (“SX”) with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth element (“REE”) industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a “new” technology, but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

Forward-Looking Statements
This news release contains projections and statements that may constitute “forward-looking statements” within the meaning of applicable Canadian, United States and other laws. Forward-looking statements in this release may include, among others, statements regarding the future plans, costs, objectives or performance of Innovation Metals Corp. (“IMC”), or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “could”, “would”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “goal”, “estimate”, and similar words and the negative forms thereof are used to identify forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are beyond IMC’s control, and which may cause the actual results, level of activity, performance or achievements of IMC to be materially different from those expressed or implied by such forward-looking statements. Such risks and uncertainties could cause actual results and IMC’s plans and objectives to differ materially from those expressed in the forward-looking information. IMC can offer no assurance that its plans will be completed. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the date and/or dates made and are expressly qualified in their entirety by this notice. Except as required by law, IMC assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

Contact
Tyler Dinwoodie
President and Executive Director

Innovation Metals Corp.
+1 416 218 2006
info@innovationmetals.com
www.innovationmetals.com

As you might know, Americas Gold and Silver Corporation (TSE:USA) last week released its latest first-quarter, and things did not turn out so great for shareholders. It definitely looks like a negative result overall with revenues falling 14% short of analyst estimates at US$9.8m. Statutory losses were US$0.69 per share, 890% bigger than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Americas Gold and Silver

Taking into account the latest results, the consensus forecast from Americas Gold and Silver's six analysts is for revenues of US$122.5m in 2021, which would reflect a substantial 298% improvement in sales compared to the last 12 months. Earnings are expected to improve, with Americas Gold and Silver forecast to report a statutory profit of US$0.056 per share. Before this earnings report, the analysts had been forecasting revenues of US$161.3m and earnings per share (EPS) of US$0.058 in 2021. Indeed, we can see that sentiment has declined measurably after results came out, with a pretty serious reduction to revenue estimates and a small dip in EPS estimates to boot.

The consensus price target fell 32% to CA$3.51, with the weaker earnings outlook clearly leading valuation estimates. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Americas Gold and Silver at CA$5.00 per share, while the most bearish prices it at CA$2.40. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Americas Gold and Silver's past performance and to peers in the same industry. One thing stands out from these estimates, which is that Americas Gold and Silver is forecast to grow faster in the future than it has in the past, with revenues expected to display 5x annualised growth until the end of 2021. If achieved, this would be a much better result than the 7.8% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 3.4% annually. So it looks like Americas Gold and Silver is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Americas Gold and Silver. They also downgraded their revenue estimates, although industry data suggests that Americas Gold and Silver's revenues are expected to grow faster than the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates – from multiple Americas Gold and Silver analysts – going out to 2024, and you can see them free on our platform here.

And what about risks? Every company has them, and we've spotted 2 warning signs for Americas Gold and Silver you should know about.

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

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

Vancouver, British Columbia–(Newsfile Corp. – May 19, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" or the "Company") is pleased to announce that its shares of common stock will begin trading on the OTCQX Best Market, effective today, under the ticker symbol "SSVFF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. The OTCQX Best Market is the highest market tier of OTC Markets on which 10,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. Southern Silver's common shares will continue to trade on the TSX Venture Exchange under the symbol SSV.

The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade SSVFF. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

Lawrence Page, Q. C., President and Chief Executive Officer of Southern Silver stated, "We are extremely pleased to have met the qualifications for the OTCQX where we will now be able to enhance our liquidity while strengthening our shareholder base. We look forward to engaging with new US investors as we continue to develop the Company for the benefit of all stakeholders."

About Southern Silver Exploration Corp.

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

Cerro Las Minitas Project

The Cerro Las Minitas project is an advanced exploration stage polymetallic Ag-Pb-Zn-Cu Skarn/CRD project located in southern Durango, Mexico which as of May 9th, 2019 contains a Mineral Resource Estimate, at a 175g/t AgEq cut-off, of(1)

• Indicated – 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn

• Inferred – 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn

A total of 150 drill holes for 67,375metres have been completed on the CLM Project with exploration expenditures of approximately US$27.0 million equating to exploration discovery costs of approximately C$0.09 per AgEq ounce to the end of 2020.

Exploration on the property continues with two drills targeting the east side of the Cerro and has now completed 38 core holes totalling 14,759 metres since restarting drilling in September 2020. Over 650 metres of strike length has been tested along the east side of the Cerro to depths of up to 500 metres. Three bonanza grade mineralized zones have been identified with over 250 metres of strike-length remaining to be tested.

The CLM Project remains one of the largest undeveloped silver-lead-zinc projects in the World and is wholly owned, unburdened by royalties, fully financed and fully permitted.

Oro Project

The Oro Project is a 100% owned porphyry copper-gold property, located in southwestern New Mexico, USA, which includes patented land, State leases and BLM mineral claims totalling 22.3 sq. km., within the eastern extension of the prolific Arizona Copper Belt. The property covers a large zoned, district-scale, Laramide-age mineralizing system containing a number of highly prospective copper-molybdenum and distal sediment-hosted, oxide-gold targets. Southern has spent over $3 million in exploration on the property since acquisition in 2007 which includes surface mapping and sampling, airborne geophysics, 17 Reverse Circulation holes and 9 core holes.

Targeting has been finalized and permits are pending for a six core hole, 4,000m drill program, designed to test several of the copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Drilling is expected to commence in Q3, 2021.

1. The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000 tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold, 89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating, smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM Project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.

On behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.

President & Director, Southern Silver Exploration Corp.

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

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

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84484

Sydney, Australia–(Newsfile Corp. – May 19, 2021) – Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (the "Company" or "Austral") is pleased to announce an update of its Amancaya drilling campaign following new assay results received from eleven drill holes. Initial drill results from the campaign were announced on 27 January 2021.

Highlights from reported assays:

• The Oeste Vein has been intersected by two core diamond drill holes:

  • DAM-024 2.41 meters @ 10.19 g/t gold and 55.2 g/t silver

  • DAM-026 1.17 meters @ 24.98 g/t gold and 77.3 g/t silver

• The follow-up drilling of the previously reported DAM-008 confirmed the Este Vein continuity at least for 50 meters NW and SE, parallel to the Amancaya Sur Vein. Currently, four core diamond drill holes have intersected the Este Vein with the two new intercepts shown below:

  • DAM-019 4.27 meters @ 7.81 g/t gold and 33.0 g/t silver

  • DAM-016 1.8 meters @ 3.1 g/t gold and 1.5 g/t silver

Oeste Vein discovery

Drill holes DAM-024 and DAM-026 were drilled to test the southern part of the Sur Vein at depth. The Oeste Vein was recognized in the hanging wall of both drill holes at shallow depths. See the Cross-Section in the Amancaya Mine 2021 Plan View Map below. The results of DAM-024 and DAM-026 recognized the Oeste Vein being subparallel to the Sur Vein. The Oeste Vein strikes in NW direction and has been intersected by the two drill holes approximately 200 meters apart.

Este Vein discovery

Drill holes DAM-016 to DAM-021 were designed to confirm mineralization intercepted with DAM-008 drill holes in section 100SW. Drillholes DAM-016 and DAM-019 confirmed the continuity of the Este Vein. To date, four drill holes have intersected the Este Vein that is interpreted to strike in NW direction over approximately 50 meters. See Table 1 for more detailed drill results and the Plan View Map for surface projections of the newly discovered veins. The new Este Vein is a subparallel structure located almost 200 meters to the northeast of the Sur Vein.

The exploration program for Q2 2021 will focus on establishing continuity and extending the Oeste and Este veins along strike and at depth.

Chief Executive Officer, Stabro Kasaneva commented: "I am delighted with the exploration progress at Amancaya. We started the program six months ago and we have extended the Amancaya mineralization to depth and discovered two new veins. It was our goal to extend the life of mine at the Guanaco-Amancaya complex at the start of the exploration program in 2020, and we are now starting to identify the potential to achieve this milestone. Several other factors are important, including the high-grade Oeste Vein that was discovered near surface could result in lower cost mining methods; the newly identified NW striking direction of veins could unlock further potential; and the proximity of the new veins to the existing underground mining infrastructure."

Table 1: Additional Drill Intersections

To view an enhanced version of this table, please visit:
https://orders.newsfilecorp.com/files/690/84498_australtable1.jpg

AMANCAYA MINE
2021 Plan View Map

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/690/84498_b1ce449264fdaad1_002full.jpg

AMANCAYA MINE
Schematic Cross-Section: Follow-up drilling program

To view an enhanced version of this map, please visit:
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Quality Assurance

Industry standard practices were used for sampling of diamond drilling. Drilling Samples were sent to the Activation Geological Services (AGS) chemical laboratory, located in the city of Coquimbo, Chile, where the samples were mechanically prepared (crushed and pulverized according to standard protocol). Chemical gold analyzes were performed using Au50 FA-AAS procedures (50 gram weight used for assays). Fusion with final determination performed by Atomic Absorption; The results obtained equal to or greater than 5gr / ton., were analyzed by Au30GRAV, fusion with final gravimetric determination. For the base metal assays, acid digestion was performed with final determination by ICPMS (Ultra-trace multi-element package). AGS has NCh 17025-2005 accreditation for the aforementioned tests and its central laboratory is located at Avenida La Cantera 2270, Coquimbo, Chile.

Competent Person

The information in this press release that relates to Exploration Results listed in the table above is based on work supervised, or compiled on behalf of Robert Trzebski, a Director of the Company. Technical Information in this press release has been reviewed by Robert Trzebski, who is a member of the Australian Institute of GeoScientists (MAIG) and qualifies as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Robert Trzebski consents to the inclusion in this presentation of the technical information that he has reviewed and approved.

Robert Trzebski has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012.

About Amancaya

Amancaya is located approximately 60km south-west of the Guanaco mine. Amancaya is a low sulphidation epithermal gold-silver deposit consisting of eight mining exploration concessions covering 1,755 hectares (and a further 1,390 hectares of second layer mining claims). Underground operations at Amancaya started in 2018 and the ore at Amancaya is trucked to the agitation leaching plant at Guanaco for processing.

About Austral Gold

Austral Gold Limited is a growing gold and silver mining, development and exploration company building a portfolio of quality assets in Chile, the USA and Argentina. Austral owns a 100% interest in the Guanaco/Amancaya mine in Chile and the Casposo Mine (currently on care and maintenance) in Argentina, and a non-controlling interest in the Rawhide Mine in Nevada, USA. In addition, Austral owns an attractive portfolio of exploration projects in the Paleocene Belt in Chile (including those acquired in the recent acquisition of Revelo Resources Corp), a 19.2% interest in Pampa Metals and a 100% interest in the Pingüino project in Santa Cruz, Argentina. Austral Gold Limited is listed on the TSX Venture Exchange (TSXV: AGLD) and the Australian Securities Exchange. (ASX: AGD). For more information, please consult Austral's website at www.australgold.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.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
jose.bordogna@australgold.com
+54 (11) 4323 7558

Ben Jarvis
Director
Austral Gold Limited
info@australgold.com
+61 413 150 448

Forward Looking Statements

Statements in this news release that are not historical facts are forward-looking statements. Forward- looking statements are statements that are not historical and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include our exploration plans for Q2 2021, the high-grade Oeste vein that was discovered near surface could result in lower cost mining methods and the newly identified NW striking direction of veins could unlock further potential.

These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, business integration risks; uncertainty of production, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus, uncertainty in the measurement of mineral reserves and resource estimates, Austral's ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond the Company's control, the availability of capital to fund all of the Company's projects and other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84498