Active investing isn't easy, but for those that do it, the aim is to find the best companies to buy, and to profit handsomely. While not every stock performs well, when investors win, they can win big. In the case of SouthGobi Resources Ltd. (TSE:SGQ), the share price is up an incredible 450% in the last year alone. Also pleasing for shareholders was the 29% gain in the last three months. Looking back further, the stock price is 389% higher than it was three years ago.

View our latest analysis for SouthGobi Resources

Because SouthGobi Resources made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. When a company doesn't make profits, we'd generally expect to see good revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.

In the last year SouthGobi Resources saw its revenue shrink by 34%. So it's very confusing to see that the share price gained a whopping 450%. It's pretty clear the market isn't basing its valuation on fundamental metrics like revenue. To us, a gain like this looks like speculation, but there might be historical trends to back it up.

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.

A Different Perspective

It's good to see that SouthGobi Resources has rewarded shareholders with a total shareholder return of 450% in the last twelve months. That's better than the annualised return of 17% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand SouthGobi Resources better, we need to consider many other factors. Case in point: We've spotted 2 warning signs for SouthGobi Resources you should be aware of, and 1 of them is concerning.

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

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.

Occidental Petroleum Corporation OXY reported first-quarter 2021 loss of 15 cents per share, narrower than the Zacks Consensus Estimate of a loss of 33 cents. The company incurred a loss of 67 cents per share in the prior-year quarter.

Total Revenues

Occidental's total revenues were $5,293 million, which surpassed the Zacks Consensus Estimate of $4,923 million by 7.5%. The top line, however, decreased 19.9% from the year-ago quarter. The year-over-year decline was due to lower contribution from the Oil &Gas segment.

Occidental Petroleum Corporation Price, Consensus and EPS Surprise

Occidental Petroleum Corporation price-consensus-eps-surprise-chart | Occidental Petroleum Corporation Quote

Segment Details

Oil and Gas revenues for the quarter were $3,664 million, down 27.6% year over year.

Chemical revenues for the quarter were $1,088 million, up 13.1% year over year.

Midstream & Marketing revenues for the quarter were $807 million, down 2.2% year over year.

Production & Sales

Occidental’s total production volume for the first quarter was 1,117 thousand barrels of oil equivalent per day (Mboe/d), which exceeded the upper end of the guided range of 1,085-1,115 Mboe/d. Strong production volumes were attributed to higher volumes from the Permian Resources region. Permian Resources production for the first quarter was 457 Mboe/d, which was near the higher end of the guided range of 450-460 Mboe/d.

For the quarter under review, total sales volume was 1,113 Mboe/d, down 22.3% from 1,432 Mboe/d recorded in the year-ago period. The decline was due to drop in U.S. and International sales volumes.

Realized Prices

First-quarter realized prices for crude oil improved 18.5% year over year to $55.65 per barrel on a worldwide basis. Worldwide realized natural gas liquids prices improved 79.1% from the prior-year quarter to $23.44 per barrel. Worldwide natural gas prices increased 80.1% from the year-ago quarter to $2.36 per thousand cubic feet.

Highlights of the Release

Occidental’s total expenses for the reported quarter were $5,684 million, down 28.7 year over year.

Out of its planned divestiture of $10.2 billion, the company has already completed $8.7 billion and utilized a major portion of the proceeds to lower outstanding debts.

Interest expenses for the reported quarter were up 12.2% to $395 million from $352 million in the year-ago period.

Financial Position

As of Mar 31, 2021, Occidental had cash and cash equivalents of $2,270 million compared with $2,008 million on Dec 31, 2020.

As of Mar 31, 2021, the company had a long-term debt (net of current portion) of $35,466 million compared with $35,745 million on Dec 31, 2020. The decrease in debt level was due to effective management of debt since the acquisition of Anadarko.

For first-quarter 2021, cash from operations was $2,135 million, up from $1,484 million in the prior-year period.

For first-quarter 2021, Occidental’s total capital expenditure was 579 million compared with $1,300 million invested in the year-ago period.

Guidance

For second-quarter 2021, it expects production in the range of 1,140-1,170 Mboe/d and output from Permian Resources in the band of 490-500 Mboe/d. The company expects exploration expenses for the second quarter to be $70 million.

For 2021, Occidental expects production to be 1,140 Mboe/d and output from Permian Resources to be 485 Mboe/d. The company expects exploration expenses for 2021 to be $215 million.

It expects to invest $2.9 billion in 2021 to further strengthen the existing operations. A total of $2.53 billion was invested in 2020. Out of the 2021 projected capital expenditure, $1.2 billion will be invested in the Permian region to bring new wells online.

Zacks Rank

Currently, Occidental carries a Zacks Rank #3 (Hold).

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

Other Releases

Devon Energy Corp. DVN reported first-quarter 2021 adjusted earnings of 45 cents, beating the Zacks Consensus Estimate of 35 cents per share by 28.6%.

Murphy Oil Corporation MUR posted first-quarter 2021 adjusted net income of 6 cents per share. The Zacks Consensus Estimate was of a loss of 16 cents.

CNX Resources Corporation CNX reported first-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 28 cents by 28.6%.

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Select high-grade drill results

Select high-grade drill results

Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge.

(Roscoe Postle Associates Inc, 2012)

Infographic 3

Infographic 3

The Historic Estimate was reported to be contained within six zones.

AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36

This table sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush.

The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current.

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — International Consolidated Uranium Inc. ("CUR" or the "Company") (TSXV: CUR) is pleased to announce that it has entered into a definitive share purchase agreement (the “Agreement”) whereby CUR will acquire a 100%, undivided interest, in the high-grade Matoush Uranium Project (“Matoush” or the “Property”) located in the Province of Quebec, Canada.

Key Points:

• High-Grade and Substantial Historic Resources – Based on a press release issued by Strateco Resources Inc. (“Strateco”) on December 7, 2012, Matoush was considered to have the following historical Mineral Resources:

  • Indicated Mineral Resources of 586,000 t at an average grade of 0.954% containing 12.329 m lbs of U3O8

  • Inferred Mineral Resources of 1,686,000 t at an average grade of 0.442% containing 16.44 m lbs of U3O8

  • This historical estimate is considered to be a “historical estimate” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”.

• Advanced Stage Project – An Updated Preliminary Economic Assessment on the Property was published in April of 2010 which contemplated access via a ramp decline, mining using longhole methods followed by cemented rock fill (CRF).

• Good Exploration Potential – The Matoush Fault Zone, the structure that controls the mineralization, has been identified over a strike length extending 11km southward and 5km northward beyond the historic resource area. In addition, many of the zones of mineralization within the historic Mineral Resources are open along strike and down plunge.

• Proven Mining Jurisdiction with Uranium Endowment – Quebec ranks highly as a mining jurisdiction and has seen significant past expenditures on uranium exploration by both major and junior mining companies.

• Compelling Acquisition Structure – Deferred cash and share based consideration offers potential to reduce the ultimate total purchase price equity dilution.

Philip Williams, CEO commented, “We are very pleased to add another high-grade, advanced stage project, in a top ranked mining jurisdiction, to our global project portfolio. As with our other projects, Matoush was the subject of significant past exploration and economic evaluation work. It stands out for its high-grade and sizeable historical resource, ranking as one of the highest-grade undeveloped uranium projects outside of the Athabasca Basin in Saskatchewan as well as its promising exploration potential. We look forward to bringing a fresh perspective to development of the project with a focus on engagement with the local indigenous stakeholders before undertaking any project level activity. We recognize that uranium mining can be a lightning rod issue and, as such, it is incumbent on us to garner social acceptance before attempting to advance a project. Fortunately, uranium mining in Canada, under the strict regulation of the Canadian Nuclear Safety Commission, has an excellent track record with studies showing no significant impacts to the health of the public living near uranium mines or mills. Canada's long-standing experience in uranium mining has resulted in the development of stringent regulations and leading practices for the protection of health and safety of persons and the environment which, of course, we intend to adhere to fully.”

Terms of the Share Purchase Agreement

Pursuant to the Agreement, CUR will acquire 100% of the shares of a special purpose vehicle (the “SPV”) that holds a 100%, undivided interest, in the Property. The SPV, an indirect wholly-owned subsidiary of certain funds managed or advised by Third Eye Capital Corporation or its affiliates, acquired the Property free and clear of any encumbrances pursuant to an approval and vesting order granted by the Quebec Superior Court dated April 30, 2021 (the “Vesting Order”). The consideration payable by CUR pursuant to the Agreement on closing includes the issuance of such number of common shares in the capital of the Company (“Shares”) with a value of $3,000,000 at a price per Share based on the 20-day VWAP of the Shares on the TSX Venture Exchange (the “TSXV”) up to the date immediately prior to closing of the transaction, subject to a minimum of 2,000,000 Shares, and a cash payment of $3,500,000. A further deferred payment is due on or before the six-month anniversary of closing of the transaction comprised of such number of Shares with a value of $2,000,000 based on a price per Share based on the 20-day VWAP of the Shares on the TSXV up to the date prior to the deferred payment and $1,500,000 in cash.

Closing of the transaction is subject to satisfaction of certain closing conditions including, among other things, the approval of the TSX Venture Exchange. All securities issued in connection with the Agreement are subject to a hold period expiring four months and one day from the date of issuance.

The Matoush Uranium Project

The Property is an advanced stage exploration project centrally located in the Province of Quebec, 210 km north of the Cree community of Mistissini and approximately 275 km north of the town of Chibougamau. The Property currently comprises 413 mining claims covering a total area of 21,670 hectares (217 km2). The overall project area extends ~24 kilometers from north to south and up to 12 kilometers in width.

Uranium was first discovered on the Property by Uranerz Energy Corp. in 1980 with subsequent work by Ditem Exploration Inc. who optioned the property to Strateco in 2005 who has held the property since then. Mineralization at Matoush is similar to Athabasca unconformity type uranium deposits with regard to its occurrence in Proterozoic sedimentary rocks exhibiting similar alteration styles and structural controls. A notable divergence in the nature deposit at Matoush from the typical Athabasca style deposit is the lack of uranium mineralization at the actual unconformity. Uranium mineralization at Matoush occurs primarily in relatively flat lying accumulations between 150m and 600m above the basement unconformity within Indicator Formation Sandstones where they are breeched by structures. The penetrating structures have acted as conduits for the flow of mineralizing fluids and are often themselves associated with more steeply dipping zones of mineralization. It should be noted that mineralization is consistent with and roughly the same age as the Westmoreland Uranium project located in Queensland Australia.

Higher-grade uranium mineralization typically sits in unit 3 of the host formation, which is a series of active channel facies, consisting of coarse-grained sandstones and poorly sorted pebble conglomerates. Unit 3 ranges in thickness from as little as 11m up to 457m at the western end of the basin with an increase in lithological heterogeneity as it thickens. The best grade mineralization is hosted in a pebble conglomerate with pebbles to 2 cms adjacent to the Matoush fault. High-grade mineralization has a strong structural control in addition to a specific host lithology, namely coarse-grained active channel facies sandstones and conglomerates. To view the table that includes select high-grade drill results please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/9c598427-505b-4adf-ae84-fb2845d09755

Prominent structural controls on mineralization include the basement penetrating Matoush Fault Zone which has been shown to host mineralization intermittently along three kilometers of its strike length. Uranium mineralization is typically associated with intersections between the Matoush Fault Zone and apparent paleo aquifers.

The Matoush uranium mineralization occurs within a much broader alteration envelope and is characterized by replacement style disseminations and clots of fine-grained uraninite plus, in the higher-grade areas, semi-massive veins of uraninite. Yellowish orange, secondary uranophane is also present. The mineralization is distributed on both sides of the steeply dipping MFZ but is generally thicker on the south or hanging wall side. True widths of mineralized zones range from 1 m to 20 m. Geochemically, the mineralization is characterized by Cr, V, Co, Ni, Pb, Zn, Cu, Bi, Au, Se and Te. From its original and shallower drilling, Uranerz recognized a zoned alteration halo up to 50 m wide developed symmetrically around the Matoush Fault Zone and consisting of an inner tourmaline zone surrounded by a magnesium-chlorite and Cr-V muscovite zone. Hematite and limonite form the outermost halo.

Exploration potential within the project area is considered positive as mineralization is open to both the north and south along strike from the existing resource.

Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge. (Roscoe Postle Associates Inc, 2012): https://www.globenewswire.com/NewsRoom/AttachmentNg/e59d3bee-44f8-47b9-98ba-1aeef341352a

In addition, favourable geological units, to host mineralization, occur abutting the Matoush Fault zone for 5 kilometers north and up to 11 kilometers south of the main zone of mineralization.

To view the related infographic appearing here in the release, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/0b535535-54fa-4fc6-bc34-41985fa82f5c

In the Property area, 538 drill holes totaling approximately 234,707 metres have been completed. These include 415 holes (188,123 m) in the main Matoush historic resource area and extensions.

Historic Mineral Resources

Roscoe Postle Associates Inc. (“RPA”), an independent consulting company, prepared a technical report on the Property in accordance with the disclosure standards of NI 43-101 entitled “Technical Report on the Mineral Resource Update for the Matoush Project, Central Québec, Canada” dated February 12, 2012. The Mineral Resource estimate was further updated by RPA in December 2012, as disclosed in a press release of Strateco dated December 7, 2012 (the “Historic Estimate”) and is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”.

The Historic Estimate used drill hole data available as of November 22, 2012. A set of cross-sections and plan views were used to construct three-dimensional wireframe models at a cut-off grade of 0.1% U3O8. High-grade values were cut to 9% U3O8 prior to compositing. Variogram parameters were interpreted from two-metre composited values. Block U3O8 grades within the wireframe models were estimated by ordinary kriging.

The Historic Estimate was reported to be contained within six zones: AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36 as shown in the following table: https://www.globenewswire.com/NewsRoom/AttachmentNg/774d28b4-95df-40a6-a362-82e2a285026c

<sup>Notes:
1. CIM definitions were followed for the Historic Estimate.
2. The Historic Estimate was estimated at a cut-off grade of 0.1% U3O8.
3. The Historic Estimate was estimated using an average long-term uranium price of US$75 per pound.
4. A minimum mining width of 1.5 m was used.
5. The MT34A lens is within both the MT-34 and AM-15 zones.
6. Numbers may not add due to rounding.</sup>

Global Historic Mineral Resource Table

The table below sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush. The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current.

To view the table mentioned in the paragraph above, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d87441-c021-4581-9552-d5d0dd33194f

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was prepared by Peter Mullens (FAusIMM), CUR’s VP Business Development, who is a “Qualified Person” (as defined in NI 43-101).

Each of the above estimates are considered to be “historical estimates” as defined under NI 43-101, and have been sourced as follows:

1. Ben Lomond: dated as of 1982, and reported by Mega Uranium Ltd. in a company report entitled “Technical Report on the Mining Leases Covering the Ben Lomond Uranium-Molybdenum Deposit Queensland, Australia” dated July 16, 2005;

2. Georgetown/Maureen: dated as of June 25, 2008, and reported by Mega Uranium Ltd. in a company report entitled “A Review and Resource Estimate of the Maureen Uranium-Molybdenum Deposit, North Queensland, Australia Held by Mega Uranium Ltd.” dated June 25, 2008;

3. Mountain Lake: dated as of February 15, 2005 and reported by Triex Mineral Corporation in a company report entitled “Mountain Lake Property Nunavut” dated February 15, 2005;

4. Moran Lake: dated as of January 20, 2011 as revised March 10, 2011 and reported by Crosshair Exploration & Mining Corp. in a company report entitled “Technical Report on the Central Mineral Belt (CMB) Uranium – Vanadium Project, Labrador, Canada” dated January 20, 2011 as revised March 10, 2011;

5. Laguna Salada: dated as of May 20, 2011 and reported by U3O8 Corporation in a company report entitled “NI 43-101 Technical Report Laguna Salada Initial Resource Estimate” dated May 20, 2011; and

6. Dieter Lake: dated 2006 and reported by Fission Energy Corp. in a company report entitled “Technical Report on the Dieter Lake Property, Quebec, Canada” dated October 7, 2011.

7. Matoush: dated December 7, 2012 and reported by Strateco Resources Inc. in a press release dated December 7, 2012.

In each instance, the historical estimate is reported using the categories of Mineral Resources and Mineral Reserves as defined by NI 43-101, but is not considered by the Company to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current Mineral Resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

For Ben Lomond, as disclosed in the above noted technical report, the historical estimate was prepared by The Australian Atomic Energy Commission (AAEC) using a sectional method. The parameters used in the selection of the ore intervals were a minimum true thickness of 0.5 metres and maximum included waste (true thickness) of 5 metres. Resource zones were outlined on 25 metre sections using groups of intersections, isolated intersections were not included. The grades from the composites were area weighted to give the average grade above a threshold of 500 ppm uranium. The area was measured on each 25 metre section to give the tonnage at a bulk density of 2.603. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Ben Lomond historical estimate as a current Mineral Resource.

For Georgetown/Maureen, as disclosed in the above noted technical report, the historical estimate was prepared by Mining Associates using a block model estimation methodology. Resource modelling was carried out on a database comprising 94,810 metres of combined drilling. Using a variety of estimation techniques, a 5x5x5 metre block model was constructed. This defined the shallow westward-dipping mineralization mantos which contain the higher grade zones. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Georgetown/Maureen historical estimate as a current Mineral Resource.

For Mountain Lake, as disclosed in the above noted technical report, the historical estimate was prepared by F.R. Hassard, B.A.Sc., P. Eng. (Qualified Person) using the polygon method. The resource estimate was based on a minimum grade of 0.1% U3O8, a minimum vertical thickness of 1.0 metre and specific gravity of 2.5. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Mountain Lake historical estimate as a current Mineral Resource.

For Moran Lake, as disclosed in the above noted technical report, the historical estimate was prepared by C. Stewart Wallis P. Geo, Barry A. Sparkes, P. Geo., Gary H. Giroux, P. Eng. (Qualified Person) using three-dimensional block models utilizing ordinary kriging to interpolate grades into each 10m x 10m x 4m high block. For the purpose of the vanadium resource estimate, a vanadium specific model was created in the Upper C rock package above the C Zone thrust fault. The vanadium model is based on a wireframe solid defining the vanadium mineralized envelope using an external cut-off of approximately 0.1% V2O5. For the purposes of the estimates, a specific gravity of 2.83 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Moran Lake historical estimate as a current Mineral Resource.

For Laguna Salada, as disclosed in the above noted technical report, the historical estimate was prepared by Coffey Mining Pty. Ltd. using block models utilizing ordinary kriging to interpolate grades into each 1000m x 1000m x 10m parent cell. For the purposes of the estimate, bulk density of 1.7t/m³ was used for Lago Seco and 1.95t/m³ for Guanaco. The Company would need to conduct an exploration program, including trenching in order to verify the Laguna Salada historical estimate as a current Mineral Resource.

For Dieter Lake, as disclosed in the above noted technical report, the historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method. Data constraints used were 200 ppm, 500 ppm, and 1000ppm U3O8 over a minimum of 1 metre thickness. Polygons created had radii of 200 metres. A rock density of 2.67g/cm3 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Dieter Lake historical estimate as a current Mineral Resource.

For Matoush, as disclosed in the above noted press release, the historical estimate was prepared by RPA using block U3O8 grades within a wireframe model that were estimated by ordinary kriging. The historical estimate was estimated at a cut-off grade of 0.1% U3O8 and using an average long-term uranium price of US$75 per pound. Six zones make up the historical estimate at Matoush: AM-15, MT-34, MT-22, MT-02, MT-06, and MT-36. Each zone is made up of one or more lenses, most of which strike north (009°) and dip steeply (87°) to the east. Outlines of the mineralized lenses were interpreted on ten-metre spaced vertical sections. Minimum criteria of 0.10% U3O8 over 1.5 m true thickness was used as a guide. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Matoush historical estimate as a current Mineral Resource.

About International Consolidated Uranium

International Consolidated Uranium Inc. (formerly, NxGold Ltd.) is a Vancouver-based exploration and development company. The Company has entered option agreements to acquire five uranium projects in Australia, Canada and Argentina each with significant past expenditures and attractive characteristics for development; with Mega Uranium Ltd. (TSX: MGA) the right to acquire a 100% interest in the Ben Lomond and Georgetown uranium projects in Australia; with IsoEnergy Ltd. (TSXV: ISO) the right to acquire a 100% interest in the Mountain Lake uranium project in Nunavut, Canada; with a private individual the right to acquire a 100% interest in the Moran Lake uranium and vanadium project in Labrador, Canada; and with U3O8 Corp. (TSXV: UWE.H), the right to acquire a 100% interest in the Laguna Salada uranium and vanadium project in Argentina. The Company entered into the Mountain Lake option agreement with IsoEnergy on July 16, 2020, and the transaction remains subject to regulatory approval, as does the transaction with U3O8 Corp. on the Laguna Salada Project. In addition, the Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia and has entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut.

Philip Williams
President and CEO
International Consolidated Uranium Inc.
+1 778 383 3057
pwilliams@consolidateduranium.com

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

Cautionary Statement Regarding Forward-Looking Information.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed and the work required to verify the historical estimates as a current Mineral Resources. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

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

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: whether the conditions to completion of the acquisition will be satisfied, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

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

Vancouver, British Columbia–(Newsfile Corp. – May 11, 2021) – Sun Summit Minerals Inc. (TSXV: SMN) (OTC Pink: SMREF) ("Sun Summit" or the "Company") is pleased to report initial drill results from its fully funded, 2021 exploration program on its Buck Property, central B.C. Assays from five of the 18 completed holes are reported.

Highlights

• Significant high-grade gold mineralization was intersected in the Trench zone:

  • 31.6 grams per tonne (g/t) gold over 4.0 metres, including 246 g/t gold over 0.5 metres (BK21-020).

  • 7.36 g/t gold over 3.0 metres including 21.70 g/t gold over 1.0 metre (BK21-019).

  • These initial results from BK20-012 step-out holes confirm the high-grade potential of this newly discovered area.

• Broad zones of bulk-tonnage style gold mineralization was intersected in the Horseshoe zone:

  • 0.78 g/t gold over 186 metres including 1.07 g/t gold over 109 metres and including 7.17 g/t gold over 5.2 metres (BK21-017). This interval represents the longest continuous zone of significant gold and silver mineralization ever drilled on the property.

  • 0.81 g/t gold over 70.0 metres including 1.04 g/t gold over 43.0 metres (BK21-018).

Note: Intervals are downhole core lengths. True widths are unknown.

Bob Willis, Sun Summit's CEO, stated: "The 2021 program has started off with exceptional results. Our first hole in the Horseshoe zone cut a long and continuous interval of significant gold mineralization which contained a high-grade zone which clearly indicates the potential of high-grade sweeteners within bulk tonnage-style grades.

Assays from drill hole BK21-020, a 100-metre step-out from discovery hole BK20-012, in the Trench zone confirms the considerable potential of this area. The vein-hosted mineralization in this new hole yielded the highest gold grade ever drilled at Buck.

Our systematic approach to investigating the potential of the Buck property is paying off and we look forward to keeping our shareholders informed on our progress as assays are returned from the lab. The current drill phase expanded the footprint of the Trench-Horseshoe mineralized system. The limits of the system have not been reached and it remains open in all directions."

Trench zone

The three Trench zone holes (BK21-019, 020, and 022; Table 1) were designed to investigate the extent of multiple zones of high-grade gold mineralization discovered in BK20-012 (see news release dated January 5, 2021).

Table 1. Assay results – Trench zone

1. AuEQ (gold equivalent) based on a 65:1 silver to gold (Ag:Au) ratio.

2. Calculations are uncut and length-weighted using a 0.15 g/t gold cutoff with less than five continuous metres of internal dilution.

3. Intervals are downhole core lengths. True widths are unknown.

BK21-020 was drilled to the south and cut across the west-dipping BK20-012 and intersected (intervals are not true widths) 31.75 g/t AuEQ (gold equivalent; 31.6 g/t gold, 9.4 g/t silver) over 4.0 metres including 247 g/t AuEQ (246 g/t gold, 66.7 g/t silver) over 0.5 metres approximately 100 metres to the southeast of the 49.6 g/t gold over 1.5 metre interval in BK20-012 (Figures 1 and 3; see news release dated January 5, 2021). Here, local quartz + carbonate + sulfide vein-hosted gold mineralization is associated with a broad zone of quartz + sericite alteration peripheral to quartz + feldspar porphyritic dykes. Similarly, BK21-019 cut numerous zones of gold mineralization highlighted by 1.57 g/t AuEQ (1.51 g/t gold, 3.58 g/t silver) over 23.1 metres including 22.04 g/t AuEQ (21.70 g/t gold, 22.20 g/t silver) over 1.0 metre at 133 metres downhole. The higher-grade interval in BK21-019 was cut approximately 25 metres north of the 23.05 g/t gold over 3.0 metre interval in BK20-012 (see news release dated January 5, 2021). Results from all three holes demonstrate the high-grade potential of this new target area. Tighter-spaced drilling with oriented core is warranted to better define structural orientations of high-grade veins. Assays are pending from nine additional holes in the Trench zone.

Horseshoe zone

The two Horseshoe zone holes (BK21-017 and 018; Table 2) were designed to test the strike-extent of bulk-tonnage, sulfide-cemented breccia-hosted gold mineralization.

Table 2. Assay results – Horseshoe zone

1. AuEQ (gold equivalent) based on a 65:1 silver to gold (Ag:Au) ratio.

2. Calculations are uncut and length-weighted using a 0.15 g/t gold cutoff with less than five continuous metres of internal dilution.

3. Intervals are downhole core lengths. True widths are unknown.

BK21-017 was collared on the same pad as BK20-012 but drilled in an opposite direction to the east (Figure 1). The hole returned 1.15 g/t AuEQ (1.07 g/t gold, 5.48 g/t silver) over 109 metres associated with a dacite matrix-rich and local sulfide + quartz + carbonate-cemented hydrothermal breccia. BK21-018 was collared 65 metres south of BK21-017 and drilled to the north under BK21-017. The hole returned 0.85 g/t AuEQ (0.81 g/t gold, 2.52 g/t silver) over 70.0 metres including 1.07 g/t AuEQ (1.04 g/t gold, 2.11 g/t silver) over 43 metres associated with sphalerite-rich sulfide-cemented breccias. Together, both holes build on results from 2020 (e.g., BK20-006, 007, 009 and top of 012) and further expand the zone of near-surface, bulk-tonnage style gold mineralization to the east (Figures 1 and 2). All phases of breccias contain gold and silver mineralization associated with clotted, disseminated and breccia-hosted sphalerite (zinc sulfide) and pyrite. Assays are pending from two additional holes in the Horseshoe zone.

Figure 1. Map showing drill hole locations

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6142/83531_e2002a7ae4c03adf_001full.jpg

Figure 2. A-A' Cross section from the Trench to Horseshoe zones showing selected highlights

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6142/83531_e2002a7ae4c03adf_002full.jpg

Figure 3. B-B' Cross section in the Trench Zone showing selected highlights

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6142/83531_e2002a7ae4c03adf_003full.jpg

Table 3. Drill collar locations

Notes: * NAD 83 Zone 9N

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company's quality assurance / quality control (QA/QC) program. Drill core was sawn in half at Sun Summit's core logging and processing facility in Houston, B.C. Half the core was sampled and shipped in sealed and secure bags to the ALS Global preparation facilities in Yellowknife, N.T. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C., for analysis.

Core samples were analyzed for 48 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23). Over limit gold (>10 ppm) was re-analyzed by fire assay using a gravimetric finish on a 30 gram sample. Over limit silver (>100 ppm) was re-analyzed using a four acid digestion and ICP-AES finish. Over limit zinc (> 10,000 ppm) was re-analysed using a four acid digestion and ICP-AES finish. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

In addition to ALS Global laboratory QA/QC protocols, Sun Summit implements an internal QA/QC program that includes the insertion of duplicates, standards and blanks into the sample stream.

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit's CEO, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Community Engagement

Sun Summit is working to engage with First Nations whose territory includes the Buck Property, to discuss their interests and identify contract and work opportunities, as well as opportunities to support community initiatives. We look forward to continuing to work with local and regional First Nations as the project continues.

Buck Property

The recently expanded 33,000-hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.

Health and Safety

The Company's exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at their flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority gold and silver targets through methodical, well funded exploration campaigns with year round drilling access. The property has high-grade and bulk-tonnage gold and silver potential and is located in a mining-established region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com

Figures

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2021/05/Buck_Fig1_Drilling_May11_NR-Au-scaled.jpg

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2021/05/Buck_Fig2_EW_Section_May11_NR-Au-scaled.jpg

Figure 3:
https://sunsummitminerals.com/wp-content/uploads/2021/05/Buck_Fig3_NS_Section_May11_NR-scaled.jpg

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit Minerals Corp. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83531

A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below.

A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below.

A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below.

A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below.

TORONTO, May 11, 2021 (GLOBE NEWSWIRE) — Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce it has acquired an additional 45 claims (720 hectares) along the Southern contact of the Lingman Lake Greenstone Belt. The acquisition increases Signature’s land position to over 90% of the Lingman Lake Greenstone belt.

“With the addition of these 45 claims, Signature continues to enhance the huge district scale potential of its 100% owned Lingman Lake land package. Signature’s Lingman Lake property now encompasses over 90% of the entire Lingman Lake Greenstone Belt and the all-important Greenstone contact margin. We continue to look forward to commencing regional and targeted exploration programs to assess this vast potential in the Spring and Summer.”

Walter Hanych – Head Geologist, Director

A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca6520d9-19da-487b-8cab-7fd6da4b8d05

Terms of Acquisition
Pursuant to the terms of the asset purchase agreement to acquire the additional 45 claims (the “Agreement”), Signature shall pay the vendor $8,000 in cash and issue the vendor 200,000 common shares in the capital of the Company at a deemed issue price of $0.20 per common share. The Agreement remains subject to final approval by the TSX Venture Exchange.

Project Update
The previously announced 2021 drilling campaign being conducted at the Lingman Lake property is over 50% drilled and advancing towards completion rapidly. Signature has delivered its first two assay sample batches to the lab in April and is shipping a third early this week. These samples represent approximately the first 40% of the drilling targeting the first 200 metres of strike to the West of the diabase dike feature. Signature is excited about the data these results will provide with respect to significantly extending the scale of the known mineralization to the west. All the assay results from the first three batches of drilling are expected to be received mid to late this month.

A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below.
https://www.globenewswire.com/NewsRoom/AttachmentNg/4dae8deb-cbd6-4500-8480-012cf1dca94f

About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.

*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca , or contact:

Jonathan Held
Chief Financial Officer
416-270-9566

Cautionary Notes

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 news release.

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or 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”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, receipt of approval from the TSX Venture Exchange, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

TORONTO, ON / ACCESSWIRE / May 11, 2021 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to provide an update on its wholly owned Xaudum Iron Project. The Company has initiated geochemical analysis for grade determination and geotechnical test-work for Rock Mass Rating ("RMR") evaluation for the Preliminary Economic Assessment ("PEA") of its Xaudum Iron Formation ("XIF") project.

The following analysis and test works will be conducted:

• 755 samples from 10 drill holes within the XIF Block 2 area have been sent to ALS Chemex for analysis by:

  • Element analysis by X-ray fluorescence ("XRF") using borate fusion beads; and

  • LOI by muffle furnace (Table 1);

• 34 samples from 7 drill holes representing the main XIF geological domains (Table 2) have been sent for geotechnical laboratory test-work assessment to the Department of Mining and Geological Engineering at the Botswana International University of Science and Technology (BIUST), where:

  • 18 samples will undergo Unconfined Compressive Strength ("UCS") testing;

  • 8 samples will undergo Brazilian Tensile Strength (Brazilian Test) testing; and

  • 8 samples will undergo Direct Shear Strength tests on a selection of common discontinuities.

Overview

Metallurgical results show that the XIF magnetite product is expected to be a premium product containing 67% Fe which is preferable over lower grade iron ores (See,Press Release of 12/17/2013 on the Company's website). These high-grade ores and products currently command larger price premiums over standard ores (62% Fe) resulting in higher margins for suppliers of high-grade products. Further to this, "cleaner" iron ores with a Fe content equal to or greater than 65% use less coal per unit of steel and as such produce lower emissions. The current global drive for lower emission steel production results in steel producers dramatically increasing their demand for these high-grade green ores. As this shift towards green steel and emission reduction continues the high grade XIF is uniquely placed to meet this emerging market.

Preliminary work on the Xaudum Iron project has defined a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for the Block 1 magnetite XIF. Block 1 is a fraction of the potential XIF magnetite resource. An extrapolated exploration target has defined the XIF to be in the order of 5 to 7 billion tonnes at 15-40% Fe. This exploration target was generated by inversion modelling of ground magnetic geophysical data which was compared and moderated to volumes from drilling data within Block 1 and its potential quantity and grade is conceptual in nature. To date, there has been insufficient exploration to define a mineral resource other than in Block 1 and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Tsodilo's Chairman and CEO, James M. Bruchs, commented "These results will be important to the technical evaluation and economic understanding of the project and will be included in the PEA. The iron ore market is entering a new "Super Cycle" based on improving fundamentals and a healthy market and has recently recorded the highest price on record. This encouraging market outlook coupled with the gathering pace of the green steel revolution means that we are confident that the PEA will bring strong added value to the Company as we develop this project towards mining."

Iron Analysis

755 samples have been consigned for XRF chemical assay to the ALS Chemex Minerals Division Geochemistry laboratory (ALS) in Johannesburg, South Africa for Fe analysis by industry standard XRF borate fusion beads and LOI by muffle furnace. These samples represent 1,230 meters of high grade XIF mineralization within the Block 2a area, see Table 1 for the details of these samples sent for assay.

Table 1. Table showing the drill holes and total meters of XIF mineralization contained in the samples sent for assay. Also shown is the average density and magnetic susceptibility for the Fe mineralization in these holes.

Geotechnical Test-Works

34 samples from the main XIF geological domains that will comprise the majority of the envisioned pit walls have been sent for geotechnical test-work to the Department of Mining and Geological Engineering at BIUST.

Laboratory tests to be conducted:

• 18 samples will undergo Unconfined Compressive Strength ("UCS") testing. UCS tests the maximum axial compressive stress that a specimen can bear under zero confining stress. USC testing is a common test to understand the rock strength of a sample, and is widely used in geotechnical design for establishing an overall RMR for pit design;

• 8 samples will undergo Brazilian Tensile Strength testing. The Brazilian Test is a common laboratory test to indirectly determine a rock's tensile strength and is an important parameter in establishing a robust RMR for pit design. The Brazilian Test is the most widely used tensile strength test as the sample preparation and the testing procedure are efficient compared to other tensile strength tests;

• 8 samples will undergo Direct Shear Strength tests on a selection of common discontinuities to aid in the establishment of a robust RMR for pit design.

Table 2. Shows the breakdown of the geotechnical samples by Geodomain
and the test works to be performed

Density and Magnetic Susceptibility

The samples sent for iron assay have been measured for density using the Archimedean method of weighing dry and then weighing submerged in water. The average density for the Fe mineralization in these holes can be seen in Table 1.

Magnetic susceptibility readings (Table 1) have been recorded on these samples providing an instant first-order understanding of the mineralogy of the iron bearing rocks being drilled. Any magnetic susceptibility readings over 100 (x10^-3) are considered high and indicate a high proportion of magnetite where magnetite is the dominant magnetitic and iron bearing component within the XIF.

About Botswana International University of Science and Technology

The Botswana International University of Science and Technology is a Government of Botswana supported institution established as a research-intensive University that specializes in Engineering, Science and Technology at both undergraduate and graduate (Master's and Doctoral) levels.

The University is a national strategic initiative that is intended to serve as one of the key platforms for transforming Botswana's economy. Because of its research emphasis, BIUST works with the private sector to meet emerging skills needs of the industry, as well as identifies challenges that can be solved through applied research.

About ALS Chemex, South Africa

ALS is a global leader in providing laboratory testing, inspection, certification and verification solutions with a reputation for providing quality analytical services to the global mining industry in the fields of analytical chemistry, mineralogy and metallurgical testing, commodity analysis and certification.

About the XIF Project

• the project is located in the North-West District of Botswana and is proximate to the Namibian boarder and lies thirty (30) miles from the town of Divundu in Namibia. The Trans Caprivi Railway (TCR) line linking Zambia and Namibia is planned to pass through Divundu providing access to Walvis Bay, Namibia's deep-sea port. The project is also located within forty-three (43) miles of the proposed Mucusso line to Angola's Namibe Port;

• preliminary work on the Xaudum Iron project has defined a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for the Block 1 magnetite XIF;

• Block 1 is a fraction of the potential XIF magnetite resource. An extrapolated exploration target has defined the XIF to be in the order of 5 to 7 billion tonnes at 15- 40% Fe. This exploration target was generated by inversion modelling of ground magnetic geophysical data which was compared and moderated to volumes from drilling data within Block 1 and its potential quantity and grade is conceptual in nature. To date, there has been insufficient exploration to define a mineral resource other than in Block 1 and it is uncertain if further exploration will result in the target being delineated as a mineral resource. See,Press Release of 9/14/2014on the Company's website for further details;

• metallurgical magnetic separation results (Davis Tube Recovery) show an average concentrate of 67.2% Fe, 4.2% SiO2, 0.5% Al2O3, 0.07% P is obtained at P80 grind size of 80 microns, although higher grades are possible at finer P80's. See,Press Release of 12/17/2013 on the Company's website;

• further exploration will be focused on Block 2 where the Company expects an increase in the resource;

• the XIF Project is a potential large and long-life Tier 1 mining project;

• the PEA will evaluate a number of options for development of the project at a variety of scales including:

  • non-traditional but potentially profitable small-scale startup mining production options such as Ferrosilicon (FeSi) production from a magnetite concentrate,

  • mid-size scenarios, whereby magnetite concentrate would be processed through a concentrator and transported to railhead and onto port facilities;

  • large-scale mining options where full-scale mining would produce a magnetite concentrate processed by a concentrator plant with further potential modification to a pellet which would then be transported to port facilities;

• Botswana has significant coal reserves which can be a major advantage for the Xaudum Iron project, allowing for coal to be used in the beneficiation process to generate iron products such as iron pellets, sponge iron, pig iron, and also steel; and,

• the project would represent the first iron deposit to be considered for development in Botswana. Gcwihaba has identified the project as having the potential to positively impact the future economy of Botswana as the country looks to diversify its economy, and help Botswana to reach its goal of moving away from a dependence on diamond revenues.

For more information, refer to the technical report prepared by SRK Consulting (UK) Ltd. for Gcwihaba Resources (Pty) Ltd. titled "Mineral Resource Estimate for the Xaudum Iron Project (Block 1), Republic of Botswana" with an effective date of August 29, 2014 and filed on SEDAR under the Company's profile at www.sedar.com.

An informational presentation of the project can be found on the Company's website at www.tsodiloresources.com/i/pdf/3)-Tsodilo-Iron-Project-Overview_March-2021.pdf.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana 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:

James M. Bruchs
Chairman and Chief Executive Officer
JBruchs@TsodiloResources.com

Dr. Alistair Jeffcoate
Project Manager and Chief Geologist
Alistair.Jeffcoate@tsodiloresources.com

Head Office
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369

Website
http://www.TsodiloResources.com

SOURCE: Tsodilo Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/646379/Tsodilo-Resources-Limited-Initiates-Studies-for-the-Preliminary-Economic-Assessment-for-the-High-Grade-Xaudum-Iron-Project-in-Botswana

VANCOUVER, BC, May 11, 2021 /CNW/ – (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") held its Annual General Meeting of shareholders in Vancouver, British Columbia today. Shareholders voted as follows on the matters before the meeting: View PDF Version.

Board Members
Shareholders elected the following 7 board members with shareholders represented at the meeting voting in favour of individual directors as follows:

Appointment of Auditors
Shareholders re-appointed PricewaterhouseCoopers LLP as Lucara's auditors with 98.55% of shareholders voting in favour.

Advisory Resolution on Executive Compensation
Management's approach to executive compensation, also disclosed in Lucara's management proxy circular dated March 19, 2021 was approved with 96.95% of shares represented at the meeting voting in favour.

On behalf of the Board,

Eira Thomas
President and Chief Executive Officer

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ABOUT LUCARA

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana and owns a 100% interest in Clara Diamond Solutions, a secure, digital sales platform positioned to modernize the existing diamond supply chain and ensure diamond provenance from mine to finger. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment and community relations.

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

The information was submitted for publication, through the agency of the contact person set out above, on May 11, 2021 at 2:00pm Pacific Time.

SOURCE Lucara Diamond Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/11/c2824.html

VANCOUVER, British Columbia and TORONTO, May 11, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) and Plateau Energy Metals Inc. (“Plateau”) (TSXV:PLU | OTCQB:PLUUF) are pleased to announce the completion of the acquisition by American Lithium of all of the issued and outstanding common shares of Plateau (“Plateau Shares”) by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement became effective as of 12:01 a.m. (Toronto time) on May 11, 2021 (the “Effective Time”), resulting in Plateau becoming a wholly-owned subsidiary of American Lithium.

Highlights

• Merger combines two of the largest lithium development projects globally

• Optionality provided by large-scale, advanced uranium project with robust economics

• Geographic & geological diversity in mining friendly jurisdictions

• Go forward management and board combines deep technical expertise with global capital markets reach and a track-record of creating value for shareholders

• Merger creates a leading, Americas focused developer of energy metals at a time when securing a sustainable supply of Critical Minerals is a global priority

• Strong working capital with approx. $19 million in cash on closing

Simon Clarke, Chief Executive Officer & Director of American Lithium stated, “We are thrilled to complete this acquisition of Plateau, which significantly increases our portfolio of assets and expands our range of opportunities in the Americas. I would like to take this time to welcome our new colleagues from Plateau, who bring a highly complimentary skill set. Not only is this important for the continued development of the Plateau assets but also their success in producing battery grade lithium at Falchani will be directly relevant as we focus on that milestone at TLC.”

Dr. Laurence Stefan, Interim CEO & Director of Plateau stated, “The merger of Plateau and American Lithium combines two major undeveloped lithium assets and creates a development stage company with one of the largest combined lithium resources globally. The combination also secures the financial strength, capital markets expertise and shareholder support required for us to step up the development of all of our assets and build on the last decade of work undertaken, and milestones achieved, in Peru. We continue to believe that our success will position Peru as a major supplier of energy metals.”

Completion of the Arrangement

Under the terms of the Arrangement, among other things, each holder of Plateau Shares is entitled to receive 0.29 of a common share of American Lithium (each whole share an “American Lithium Share”) and 0.145 of a common share purchase warrant of American Lithium (each whole warrant an “Exchange Warrant”) for each Plateau Share held immediately prior to Effective Time (the “Exchange Ratio”). Each whole Exchange Warrant will entitle the holder to acquire one American Lithium Share at a price of $3.00 until May 11, 2024. American Lithium will use commercially reasonable efforts to list the Exchange Warrants as soon as practicable following closing of the Transaction.

Each existing Plateau Share purchase warrant will, upon the exercise thereof on or after the Effective Time in accordance with its terms, entitle the holder to acquire 0.29 of an American Lithium Share and 0.145 of an Exchange Warrant for each Plateau Share the warrant holder would have been entitled to acquire prior to the closing of the Arrangement. Existing Plateau stock options will be exchanged for an option to acquire from American Lithium the number of American Lithium Shares equal to the product of: (A) the number of Plateau Shares subject to such Plateau stock option immediately prior to the effective date of the Arrangement, multiplied by (B) 0.29 of an American Lithium Share for each Plateau Share. Each restricted share unit and deferred share unit of Plateau vested immediately prior to the Effective Time and was exchanged for one Plateau Share, and the holders thereof participated in the Arrangement as Plateau shareholders. Pursuant to the Arrangement, American Lithium acquired 127,213,511 Plateau Shares, representing 100% of the outstanding Plateau Shares.

American Lithium intends to delist the Plateau Shares from the TSX Venture Exchange as soon as practicable. American Lithium also intends to cause Plateau to apply to the relevant securities regulators for Plateau to cease to be a reporting issuer.

In connection with the Arrangement, Plateau issued to Bedrock Capital Corporation a finder’s fee equal to $600,625 payable in cash and 2,666,666 Plateau Shares and the Company issued to Axemen Resource Capital Ltd. (“Axemen”) a finder’s fee equal to $200,000 payable in cash and 867,882 American Lithium Shares. The American Lithium Shares issued to Axemen will be subject to a four month hold from the applicable date of issuance. The finder’s fees are subject to the final approval of the TSX Venture Exchange.

Go Forward Management / Board of Directors

As recently announced, Simon Clarke will be the Chief Executive Officer and a director of the Company going forward. Andrew Bowering will move from his current role as Chief Financial Officer and director to be Chairman of the Company. Michael Kobler will step down from the board of directors of American Lithium but will remain with the Company as General Manager of the US Operations. G.A.(Ben) Binninger remains an independent director and Graham Ballachey remains as VP Engineering.

From the Plateau side, Dr. Laurence Stefan will join the Company as President, Chief Operating Officer and director. Philip Gibbs will become the Chief Financial Officer and Ted O’Connor will join the board of directors and will also be Technical Advisor and Qualified Person for the Company’s projects.

Dr. Stefan, the founder of Plateau Energy Metals (formerly Macusani Yellowcake) has over 30 years of experience in the mining industry (exploration, development, mining, processing and marketing), serving as Managing Director in Peru since 2007. Dr. Stefan previously worked at Gold Fields of South Africa and JCI (Pty) Ltd. where he was involved in the beneficiation of a wide variety of solid metal/non-metal commodities. He has vast experience covering over 100 projects on 6 continents and led the discovery team for the Falchani lithium project.

Philip Gibbs, the current Chief Financial Officer of Plateau, has extensive experience with listed mining and mineral exploration companies operating in Africa and South America. Mr. Gibbs also serves as Chief Financial Officer of Cobalt BlockChain Inc. and Asante Gold Corporation.

Ted O’Connor, P.Geo, MSc. is a professional geoscientist with over 30 years of experience in the exploration industry and has been involved with Macusani Yellowcake and Plateau since shortly after inception. Previously, as Director of Corporate Development for Cameco, Ted was responsible for evaluating, directing and exploring for uranium deposits worldwide. He has successfully led new project generation from early exploration through discovery on multiple uranium projects and was also part of the discovery team for the Falchani project.

Information for Former Plateau Shareholders

In order to receive the American Lithium Shares and Exchange Warrants in exchange for Plateau Shares, Plateau shareholders who hold their Plateau Shares in physical certificates or DRS Statements, must complete, sign, date and return the letter of transmittal that was mailed to each Plateau shareholder with the meeting materials in April 2021. The letter of transmittal is also available under Plateau’s profile on SEDAR at www.sedar.com. Plateau Shares held in a trading account will update automatically to reflect the receipt of the American Lithium Shares and the Exchange Warrants, generally within two weeks of the Effective Date. For those shareholders of Plateau whose Plateau Shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Plateau Shares and should follow the instructions of such intermediary or nominee.

As previously disclosed in Plateau’s management information circular dated March 31, 2021 (the “Circular”), a Plateau Shareholder wishing to file a tax election under section 85 of the Income Tax Act (Canada) should consult its tax advisor. The deadline for submission of the tax election form to American Lithium is August 9, 2021. All eligible holders who wish to make a Section 85 election should give their immediate attention to this matter, and in particular should consult their tax advisors without delay.

Additional Information

For further details of the Arrangement, please see the arrangement agreement dated February 9, 2021, and Plateau’s management information circular dated March 31, 2021, each of which is available under Plateau’s profile on SEDAR at www.sedar.com

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

About American Lithium
American Lithium (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The company is currently exploring and developing the TLC lithium project located in the highly prospective Esmeralda lithium district in Nevada. TLC is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle’s Silver Peak lithium mine, and several advancing deposits and resources, including Ioneer Ltd.’s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp.’s Clayton Valley Project.

Please watch our corporate video at https://www.americanlithiumcorp.com and review our informative short project update videos and related background information at https://www.americanlithiumcorp.com/projects/tlc-nevada/

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.

About Plateau Energy Metals
Plateau Energy Metals Inc., a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru, both of which are situated near significant infrastructure.

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

“Simon Clarke”

CEO & Director
Tel: 604 428 6128

For further information, please contact:

On behalf of the Board of Directors of Plateau Energy Metals Inc.

“Dr. Laurence Stefan”

Director, President & Interim CEO

+1-416-628-9600
IR@PlateauEnergyMetals.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 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. These include statements regarding the intent of American Lithium and Plateau (the “Companies”), or the beliefs or current expectations of the officers and directors of the Companies post closing of the Transaction. Forward-looking statements in this news release include, but are not limited to, statements regarding anticipated benefits of the Transaction, TLC, Falchani and Macusani Uranium (the “Projects”), listing of the Exchange Warrants and any statements regarding the business plans, expectations and objectives of the Companies.

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 the Companies believe 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 the Companies 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: the Companies' ability to achieve their stated goals as a result of the Transaction; 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, the Companies or others to attempt to reduce the spread of COVID-19 could affect the Companies, which could have a material adverse impact on many aspects of the Companies’ 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 Plateau’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 Companies’ 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 the Companies, including the status of the “Precautionary Measures” filed by Plateau’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 Plateau 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; 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 the Companies operate; 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 the Companies’ shares and could negatively affect the Companies’ ability to raise capital and may also result in additional and unknown risks or liabilities to the Companies. Other risks and uncertainties related to prospects, properties and business strategy of Plateau and American Lithium are identified, respectively, 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. Neither of the Companies undertakes any 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 Plateau Concessions

Thirty-two of Plateau’s 151 concession 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 the 32 of the concessions invalid due to late receipt of the annual validity payment. Plateau successfully applied for injunctive relief on 32 concessions in a Court in Lima, Peru and the grant of the Precautionary Measures (Medida Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is obtained in at the last stage of the judicial process. If Plateau does not obtain a successful resolution of Processes, Macusani’s title to the concessions could be revoked.

Program Designed To Test Recent 2020 Gold Discoveries

MIRAMICHI, New Brunswick, May 11, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has received approval from the NBDRED for the proposed 2021 trenching and drilling program at the Menneval gold project located in the mineral-rich province of New Brunswick. The trenching program will test new 2020 gold discoveries, gold soil anomalies and other priority targets with significant potential for additional gold discoveries.

Targets include three veins: No 2, No 18 and No 22 where the Company reported visible gold in 2020. Grab samples from the No 2 vein ranged up to grading 363.00 g/t and up to 11.30 g/t in vein No 22. Multiple sites of visible gold were supported by assay results grading 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick as reported December 03, 2020. These veins are part of a swarm of gold-bearing veins extending eastward over a strike-length of 1,100 m. This vein system has only been tested intermittently and is open eastward.

The trenching program will also test gold Trend A over a strike length of 1,800 m. Trend A is a region of elevated gold values up to 150 m wide where soils contain from 20 ppb to 206 ppb gold as reported on January 19, 2021. Three other soil trends B, C and D were reported. The Company expects to start testing these priority targets by trenching on or about May 18, 2021.

The Menneval Project: The expanded Menneval Gold project is comprised of 572 mineral claim units covering 12,390 hectares located in northwestern New Brunswick. The Company holds a 100% interest in these claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR. The Company has applied for funding assistance up to $100,000 under the New Brunswick Junior Mining Assistance Program.

About SLAM Exploration Ltd:

SLAM is a project-generating resource company with a portfolio of precious metal and base metal properties in New Brunswick and Ontario. Some properties are vended to other in return for cash and/or shares with NSR royalties retained by the Company.

The Company focus is the Menneval Gold project where the 2021 trenching program is ready to commence in northern New Brunswick. The Company owns the Gold Brook, the Birch Lake gold, Wilson Brook gold and Lewis Brook silver projects in central New Brunswick. SLAM also owns 7 gold properties located in the vicinity of Clarence Stream where Galway Gold Inc. has reported successful gold drilling results in southern New Brunswick. SLAM recently acquired claims adjacent to the Williams Brook property where Puma Exploration Inc. has reported new gold discoveries. SLAM also owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject to an option agreement. SLAM holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the BMC. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

QA-QC – Sampling Procedures
The trenching and soil geochemical results referenced above were previously reported as were the QA-QC – Sampling Procedures.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca

SEDAR: 00012459E

Vancouver, Canada, May 11, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) announces the grant of incentive stock options to its directors, officers, management personnel and consultants to acquire an aggregate of 4,425,000 common shares in the capital of the Company at an exercise price of $3.15 per share (the “Options”).

The Options are exercisable for a three-year term, expiring on May 10, 2024, with 20% vesting immediately and a further 20% vesting every 6 months over the next two years.

The Options were granted in accordance with the Company’s 10% rolling incentive stock option plan. As a result of these grants, the stock options issued by the Company represent 5.6% of its issued and outstanding capital. The grant of the Options is subject to the approval of the TSX Venture Exchange.

ABOUT OROCO:

The Company holds a net 73.2% interest in the collective 1,172.9 ha Core Concessions of the Santo Tomas Project in NW Mexico. The Company also holds a 77.5% interest in 7,807.9 ha of mineral concessions surrounding and adjacent to the Core Concessions (for a total project area of 22,192 acres). The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group’s Bahuerachi project, approximately 14 km to the north-east. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994.

The Santo Tomas Project is located within 160km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.

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 Information

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.

CONTACT: Craig Dalziel Oroco Resource Corp. (604) 688-6200 cdalziel@orocoresourcecorp.com

Iluka Resources (ASX:ILU) has had a great run on the share market with its stock up by a significant 26% over the last three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Particularly, we will be paying attention to Iluka Resources' ROE today.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.

View our latest analysis for Iluka Resources

How Do You Calculate Return On Equity?

The formula for ROE is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Iluka Resources is:

8.0% = AU$104m ÷ AU$1.3b (Based on the trailing twelve months to December 2020).

The 'return' is the yearly profit. One way to conceptualize this is that for each A$1 of shareholders' capital it has, the company made A$0.08 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Iluka Resources' Earnings Growth And 8.0% ROE

At first glance, Iluka Resources' ROE doesn't look very promising. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 15%. Although, we can see that Iluka Resources saw a modest net income growth of 5.9% over the past five years. We reckon that there could be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

Next, on comparing with the industry net income growth, we found that Iluka Resources' reported growth was lower than the industry growth of 28% in the same period, which is not something we like to see.

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. What is ILU worth today? The intrinsic value infographic in our free research report helps visualize whether ILU is currently mispriced by the market.

Is Iluka Resources Making Efficient Use Of Its Profits?

In Iluka Resources' case, its respectable earnings growth can probably be explained by its low three-year median payout ratio of 20% (or a retention ratio of 80%), which suggests that the company is investing most of its profits to grow its business.

Moreover, Iluka Resources is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 39% over the next three years. Regardless, the future ROE for Iluka Resources is speculated to rise to 15% despite the anticipated increase in the payout ratio. There could probably be other factors that could be driving the future growth in the ROE.

Conclusion

On the whole, we do feel that Iluka Resources has some positive attributes. That is, a decent growth in earnings backed by a high rate of reinvestment. However, we do feel that that earnings growth could have been higher if the business were to improve on the low ROE rate. Especially given how the company is reinvesting a huge chunk of its profits. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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 Abitibi projects

Figure 2

Lewis project location

Figure 3

Lewis geology and Red Giant showing

Figure 4

Lewis Mag

Figure 5

Trenches location

Figure 6

Trench #1

Figure 7

Red Giant discovery

Figure 8

Red Giant sample

Figure 9

Red Giant trench

Figure 10

Best channels 1-2

Figure 11

Best channel 3

Figure 12

IP survey location

Figure 13

IP results and drilling targets

MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that several new drilling targets have been identified as a result of a geophysical induced polarization (OreVision IP) survey completed last winter on the Lewis project. The survey was conducted in the vicinity of the new gold discovery made by prospecting on the Lewis project, wholly owned by Midland and located approximately 60 kilometres southwest of the town of Chapais, Abitibi, Quebec.

This new project, acquired in April 2020, consists of 172 claims (95 km²) and covers a strategic position characterized by a regional flexure proximal to the Guercheville-Opawica deformation zone. The Lewis project is located approximately 60 kilometres northwest of the Nelligan deposit, jointly held by Iamgold Corporation (75%) and Vanstar Mining Resources (25%).

Highlights:

• New gold system (Red Giant) with Qtz-Cb-Py over more than 9 metres in channel samples

• 30-km geophysical (OreVision IP) survey identifies several new high-priority targets

• Commencing a prospecting program in preparation for a drilling campaign

New gold-bearing structure : Red Giant

Last October, a mechanical stripping program was conducted to further assess the Red Giant showing discovered by prospecting in the summer of 2020 in the northwest part of the Lewis project, approximately 8 kilometres northeast of the former Lac Shortt mine. These occurrences yielded several anomalous gold values in grab samples, with grades ranging from 0.2 g/t Au to 2.1 g/t Au (see press release by Midland dated October 15, 2020).

Stripping and channel sampling completed in October have confirmed the presence of a new gold-bearing structure over a width of more than 9 metres and a lateral distance of at least 25 metres. The gold-bearing zone is oriented east-west, shows increasing grade/thickness values westward, and remains completely open in this direction. Pyrite mineralization (3-5%) and quartz-carbonate veins are hosted in a mafic volcanic rock with strong ankerite and chlorite alteration. A total of four channel samples spaced 7 to 10 metres apart were collected on this structure over a lateral distance of 25 metres. From west to east, the channel samples yielded the following results:

• Channel #1: 0.35 g/t Au over 9.0 metres (open to the north and south)

• Channel #2: 0.38 g/t Au over 8.0 metres (open to the south)

IP survey identifies new drilling targets

An induced polarization survey totalling approximately 30 kilometres was completed last winter along the extensions of the Red Giant showing. The survey identified several anomalies, many of which remain unexplained. A particularly interesting anomaly was detected approximately 250 metres east of the Red Giant gold showing. This IP anomaly consists of coinciding resistivity and chargeability highs, typical of silicified zones, mineralized silicified zones, and potentially gold-bearing zones.

A prospecting program will begin in the next weeks to investigate these new IP anomalies, in preparation for a maiden drilling campaign.

The Lewis gold property is located approximately 60 kilometres northwest of the Nelligan deposit, which hosts NI 43-101 Inferred Resources of 97 million tonnes grading 1.0 grams per tonne of gold, equivalent to 3.2 million ounces of gold (Source : Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources). In addition, approximately 10 kilometres west of the Lewis property, the former Lac Shortt mine historically produced 2.7 million tonnes of ore grading 4.6 g/t Au (Source: MERN-SIGEOM).

Cautionary statements

The true thickness of mineralized zones intersected by channel samples has not been determined with available informations.

Mineralization occurring at the Nelligan and Lac Shortt gold deposits is not necessarily indicative of mineralization that may be found on the Lewis property held by Midland.

Quality Control

Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks for every 20 samples. Samples from the Lewis project were analyzed by atomic absorption (AA-23) at ALS Minerals laboratories in Val d’Or, Quebec. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61) at ALS Minerals laboratories in Vancouver, British Columbia.

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., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., 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 prepared 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: www.explorationmidland.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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/a6a500fe-a509-4ded-aec5-aa9379de3aba

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VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture: BRZ) (OTCQB:BLILF) is pleased to provide an update as announced by Minera Salar Blanco (“MSB”).

__________________________________________________________________________________

The Alliance includes off-take, funding rights and further strategic collaboration for new lithium developments in Chile.

_______________________________________________________________________________

MSB is pleased to announce that it has entered into a non-binding Memorandum of Understanding (the “MOU”) with the Japanese conglomerate Mitsui & Co., Ltd., (“Mitsui”) to set up a strategic alliance to advance the development of the Maricunga project (the “Project”).

The MOU intends to create a partnership of the Project. The MOU also addresses the development of the Chilean lithium industry, by partnering to introduce other leading edge efficient and environmentally friendly technologies for processing.

The strategic alliance includes potential off-take and funding rights for the Stage One of the Project; potential participation, off-take and funding rights for future expansions of the Project, and further strategic collaboration for new developments in Chile, based on new technology related to direct lithium extraction (the “DLE”) currently being studied and tested.

In particular, the parties aim to achieve the following goals as a result of such strategic alliance:

• Off-Take Rights – Mitsui will have the right to purchase up to 15,000 tonnes annually of high purity lithium carbonate battery grade production from the Stage One of the Project for 10 years, extendable for 2 consecutive 5 years periods. The parties will agree on a price structure and terms of the off-take in a later stage, in order to be sufficiently bankable to support’s MSB’s debt funding requirements.

  The parties will leverage Mitsui’s considerable global logistics and battery materials marketing expertise on the distribution of the products.

• Right to Participate in Funding of Maricunga’s Stage One – Mitsui will have the right to participate directly in the funding of the Stage One of the Project. The parties will consider an optimized funding structure through a combination of equity-like and debt-like options.

• Participation in Future Expansions, Off-Take and Funding Rights – Subject to the parties agreeing to a financing proposal where Mitsui provides a relevant portion of the necessary funding of the capital expenditures required for the future expansion of the Project, Mitsui will have the first option for an off-take agreement to purchase a relevant portion of the future production of the expansion.

  MSB will use its best efforts to utilize new technology related to the DLE currently being studied and tested by Mitsui’s technical partners.

• Further Strategic Collaboration – MSB will collaborate with Mitsui for the development of other lithium related businesses in the country by introducing efficient and environmentally friendly processing technologies. In this context, MSB will commit to collaborate with Mitsui and its technical partner to facilitate the development and testing of the DLE technology at the Maricunga Salar, and provide a broader platform for the promotion of this technology.

Terms and details of the definitive agreements will be finalised after completion of all necessary due diligence and transaction structuring and subject to each party’s internal approval.

Minera Salar Blanco’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“We are incredibly pleased to have reached a mutually beneficial MOU with Mitsui. The MOU is comprehensive, and it sets a framework for the Stage One of the Project development to proceed with the backing of a world-renowned partner. We look forward to finalising the definitive agreements with Mitsui and working with them on mutually beneficial lithium projects and positive outcomes for the Chilean lithium industry.

About Minera Salar Blanco (MSB)

MSB is the owner of a lithium and potash project in Chile’s III Region, at the Maricunga Salar, which is in a very advance stage of development, having received its environmental approval on February 4th, 2020 by the Chilean authorities (Resolution #94) and with its definitive feasibility study released in January 2019, now being updated. The Project is in its first stage denominated the “Stage One” with a nameplate capacity of 15,000 annual tonnes of high purity lithium carbonate (the “Products”) over a 20-year mine life. It also provides significant future expansion potential from subsequent stages to be developed over the other part of the mining concessions owned by MSB.

About Mitsui & Co. Ltd

Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.

Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.35% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 60 million has been invested in the Maricunga Project. All Project Expenditures through to the delivery of a Definitive Feasibility Study in January 2019 have been fully funded by the 51% earn-in joint-venture partner, Lithium Power International.

ON BEHALF OF THE BEARING LITHIUM BOARD

Signed "Gil Playford”
Gil Playford, Chairman
gplayford@bearinglithium.com

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

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved.. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/

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

KELOWNA, BC, May 11, 2021 /CNW/ – FISSION URANIUM CORP. ("FISSION" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing consisting of 57,500,000 units (the "Units") at a price of C$0.60 per Unit for gross proceeds of C$34.5 million, inclusive of the full exercise of the over-allotment option held by the Underwriters (the "Offering").

Eight Capital and Sprott Capital Partners LP acted as co-lead underwriters on behalf of a syndicate of underwriters including Canaccord Genuity Corp., BMO Nesbitt Burns Inc. and H.C. Wainwright & Co., LLC (collectively, the "Underwriters").

Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.85 at any time on or before 5:00 pm on May 11, 2024.

The Company intends to use the net proceeds of the Offering to fund the further development of the Triple R deposit in Saskatchewan and for working capital and general corporate purposes.

The Offering was completed pursuant to a prospectus supplement to the Company's base shelf prospectus dated December 7, 2020.

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

About Fission Uranium

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

ON BEHALF OF THE BOARD

" Ross McElroy "

Ross McElroy, Chief Executive Officer

Forward-Looking Statements

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

SOURCE Fission Uranium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/11/c7627.html

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FSE:P8AA) ("Azarga Uranium" or the "Company") has filed a technical report supporting the National Instrument 43-101 ("NI 43-101") resource estimate for its Gas Hills Uranium Project in Wyoming (the "Gas Hills Project") announced on 30 March 2021. The Company has also engaged WWC Engineering and Roughstock Mining Services, LLC ("Roughstock") to complete a preliminary economic assessment on the back of the increased resource estimate.

Highlights:

• Measured and Indicated uranium resources increased to 10.77 million pounds U₃O₈ from 4.73 million pounds U₃O₈ (128% increase)

• Measured and Indicated ISR uranium resources total 7.71 million pounds U₃O₈ (72% of overall Measured and Indicated resources)

  • Average U₃O₈ grade of 0.101%

• Maiden ISR resource estimate achieves significant grade and scale and supports further advancement of the project

• Preliminary economic assessment underway; strong potential for Gas Hills Project to become a significant satellite deposit to our flagship Dewey Burdock Project

Updated Mineral Resource Estimate – 29 March 2021

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Both the ISR and non-ISR resources were determined using the GT contour method and met the following criteria:

1. 0.02 percent grade cutoff;

2. Occur within the same mineral horizon (roll front);

3. Fall within the 0.10 GT contour; and

4. Extend no farther from the drill hole than the radius of influence specified for each category, i.e., measured, indicated or inferred.

In addition, ISR resources that fall within the 0.20 GT contour have also been estimated in the table below (all other calculation criteria are the same as noted above):

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Technical Report
The NI 43-101 technical report titled "NI 43-101 Technical Report, Mineral Resource Report, Gas Hills Uranium Project, Fremont and Natrona Counties, Wyoming, USA" with an effective date of 29 March 2021 (the "Technical Report") for Azarga Uranium Corp. has been filed on SEDAR at www.sedar.com and Azarga Uranium's website at www.azargauranium.com.

The Technical Report was independently prepared by Steve Cutler, P.G. of Roughstock, a Qualified Person as that term is defined under NI 43-101. Further, the disclosure of a scientific and technical nature contained in this press release was approved by Steve Cutler, P.G. of Roughstock, a Qualified Person as that term is defined under NI 43-101.

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

For more information, please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

For further information, please contact:
Blake Steele, President and CEO
+1 (303) 790-7528
E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the Company undertaking and completing a preliminary economic assessment on the back of the increased resource estimate at the Gas Hills Project, there being a strong potential for the Company's Gas Hills Project to become a significant satellite deposit to the Company's flagship Dewey Burdock Project and the Company being in the process of completing regulatory permit approvals necessary for the construction of the Dewey Burdock Project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the Company does not complete a preliminary economic assessment on the Gas Hills Project, the risk that the Company's Gas Hills Project does not become a significant satellite deposit to the Company's flagship Dewey Burdock Project, the risk that the Company does not complete regulatory permit approvals necessary for the construction of the Dewey Burdock Project, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

SOURCE: Azarga Uranium Corp.

View source version on accesswire.com:
https://www.accesswire.com/646465/Azarga-Uranium-Files-NI-43-101-Technical-Report-for-Resource-Increase-at-Gas-Hills-Project

By buying an index fund, investors can approximate the average market return. But many of us dare to dream of bigger returns, and build a portfolio ourselves. For example, Pretium Resources Inc. (TSE:PVG) shareholders have seen the share price rise 47% over three years, well in excess of the market return (17%, not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 16%.

See our latest analysis for Pretium Resources

Pretium Resources isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Shareholders of unprofitable companies usually expect strong revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Over the last three years Pretium Resources has grown its revenue at 19% annually. That's pretty nice growth. The share price gain of 14% per year shows that the market is paying attention to this growth. If that's the case, then it could be well worth while to research the growth trajectory. Of course, it's always worth considering funding risks when a company isn't profitable.

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. You can see what analysts are predicting for Pretium Resources in this interactive graph of future profit estimates.

A Different Perspective

Pretium Resources shareholders are up 16% for the year. But that was short of the market average. The silver lining is that the gain was actually better than the average annual return of 4% per year over five year. This could indicate that the company is winning over new investors, as it pursues its strategy. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For instance, we've identified 1 warning sign for Pretium Resources that you should be aware of.

Pretium Resources is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

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, May 11, 2021 (GLOBE NEWSWIRE) — Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is pleased to announce the publication of its 2020 Sustainability Report (“the Report”). The Report highlights DPM’s unique approach and performance in key environmental, social and governance (“ESG”) areas as identified through a comprehensive materiality assessment.

“ESG is fundamental to our culture and is integrated into all levels of our organization. In 2020, we defined our corporate purpose and added a new ESG-focused strategic objective, to generate a net positive impact from our operations, which places an emphasis on our ability to deliver positive value for all of our stakeholders,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals. “We have long understood the strategic importance of maintaining our social license to operate and have seen first-hand how excelling in this important area is a competitive advantage that can unlock additional value and lead to superior long-term returns.”

“During 2020, we made progress on a number of important social and environmental initiatives,” said Dr. Nikolay Hristov, Vice President, Sustainability and External Relations. “We also augmented our existing sustainability reporting framework by publishing our first climate change report following the Task Force for Climate-related Financial Disclosure (“TCFD”) framework, further demonstrating our commitment in this area.”

2020 Sustainability Highlights:

• Recognitions

  • Achieved an ‘A’ rating from MSCI ESG Ratings for the second year in a row

  • Named Investor of the Year in Bulgaria and Most Generous Corporate Donor by the Bulgarian Donors Forum

• Positive Economic Impact

  • More than 99% of our workforce is comprised of local nationals, including 98% of supervisor-level positions

  • 73%, 91% and 93% of our procurement budgets at Chelopech, Ada Tepe and Tsumeb, respectively, were spent on local and in-country suppliers

• Robust Corporate Governance

  • Established an Independent Tailings Management Review Board to provide support in ensuring that the design, construction, operation and closure of our tailings facilities conform with international best practice

  • Increased gender diversity, with women representing 44% of our senior managers and 33% of our Board of Directors

  • Short-term incentive compensation structure incorporates ESG performance

• Benefits to our Local Communities

  • Deployed proactive measures that effectively safeguarded our employees, communities and operations from any significant impacts related to the COVID-19 pandemic

  • Contributed approximately US$5 million in direct community investment, a 60% increase relative to 2019

  • Contributing to sustainable and resilient livelihoods in our host communities through an innovative fund to support investment in non-mining related small and medium enterprises in the municipality of Krumovgrad

• Environmental Stewardship

  • One of the lowest greenhouse gas emission intensity rates among gold producers¹

  • Significant decrease in freshwater use intensity rate compared to 2019

  • Achieved zero discharge of industrial wastewater at all operations

  • Decreased SO₂ emissions at Tsumeb by 47% compared to 2019

  • Reduced direct energy use by 7.6% at Tsumeb compared with 2019

  • Successful trial of a vitrification process to transform arsenic-bearing waste into a non-hazardous form

  • Successful biodiversity management in an environmentally sensitive area

About the 2020 Sustainability Report

A new materiality assessment forms the basis of the Report, which follows the Global Reporting Initiative (“GRI”) standards, includes DPM’s first year of reporting in accordance with the Sustainability Accounting Standards Board (“SASB”) industry-specific standards and describes DPM’s contribution to the United Nations’ Sustainable Development Goals.

Additionally, the report includes an update to the Company’s inaugural climate change report prepared according to the recommendations of the TCFD framework, which was published in December 2020, as well as DPM’s inaugural tax disclosures against the GRI 207 Standard. The Report has been independently assured by Bureau Veritas UK, consistent with DPM’s sustainability reporting since 2012.

The 2020 Sustainability Report, as well as our inaugural TCFD climate change report, are available on our website at:

https://www.dundeeprecious.com/English/sustainability/performance-and-reporting/default.aspx

About Dundee Precious Metals Inc.

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia and Serbia. The Company’s purpose is to unlock resources and generate value to thrive and growth together. This overall purpose is supported by a foundation of core values, which guides how the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).

_______________
¹ Source: “Greenhouse Gas Emissions in Gold Mining,” Sam Ulrich, CSA Global (October 2020): https://www.csaglobal.com/wp-content/uploads/2020/10/Greenhouse-Emissions-in-Gold-Mining_Sam-Ulrich_October_2020.pdf

For further information please contact:

David Rae
Executive Vice President and Chief Operating Officer
Tel: (416) 365-5092
drae@dundeeprecious.com

Dr. Nikolay Hristov
Vice-President, Sustainability and External Relations
Tel: (416) 365-5094
nikolay.hristov@dundeeprecious.com

Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dundeeprecious.com

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that the previously announced non-brokered private placement (the “Placement”) of up to 5,000,000 units (the Units”) at a price of $0.10 per Unit for total gross proceeds of up to $500,000 is oversubscribed and has been increased to 7,500,000 units for $750,000. All other terms remain unchanged. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.15 during the first year, increasing to $0.20 in year two following the closing of the offering. If, commencing after the fourth month after closing, the closing price of the Company’s shares exceeds $0.25 per share for a period of 20 consecutive trading days (the “Acceleration Trigger Date”), the Company will have the right to accelerate the expiry date of the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date. The Placement is expected to close by mid-May, 2021.

The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.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 news release.

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

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

VANCOUVER, BC / ACCESSWIRE / May 10, 2021 / Bitterroot Resources Ltd.'s (TSXV:BTT) management announces that further to its press releases dated April 27, 2021 and May 3, 2021, the Company has closed an oversubscribed non-brokered private placement of 11,195,000 units of the Company at a purchase price of $0.10 per unit, for aggregate gross proceeds to the Company of $1,119,500. Each unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.20 until May 4, 2023.

The Company intends to use the majority of the proceeds to fund its 51% share of costs incurred drilling approximately 15-20 additional holes on the LM magmatic nickel-copper-PGM property in the Upper Peninsula of Michigan. Drilling at the LM Property is expected to resume in late May.

The balance of the funds will be used for working capital and for pre-drilling work on the 100%-owned Coyote and Castle epithermal gold/silver properties in Nevada. Bitterroot's US subsidiary has received BLM Decisions allowing core drilling on the Castle property (up to 13 drill sites and associated road maintenance) and Coyote property (up to 20 drill sites and associated road maintenance/construction). Additional geological and geophysical work is planned before drilling.

The Company has compensated PI Financial Corp., Haywood Securities Inc. and Pollitt & Co. for their role as arm's length finders of purchasers of the private placement. The Company has paid the finders an aggregate amount of $12,420 in cash and issued a total of 124,200 finders' warrants. Each finders' warrant is exercisable to acquire one Common Share at an exercise price of $0.20 until May 4, 2023.

The private placement is subject to the final acceptance of the TSX Venture Exchange. The securities issued are subject to a four-month hold period expiring on September 6, 2021.

The securities issued in connection with the private placement have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale, or solicitation would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

Contact information:

Telephone: 604-922-1351
Email: infoman@bitterrootresources.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.

FORWARD LOOKING STATEMENTS:

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements in this press release include but are not limited to the final approval of the Exchange to the Private Placement and the intended use of proceeds for the Private Placement. Factors that could cause actual results to differ materially from those in forward-looking statements include that Company does not receive regulatory approval to the Private Placement. The forward-looking statements are subject to certain other risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the Company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

SOURCE: Bitterroot Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/646321/Bitterroot-Resources-Closes-C1195000-Private-Placement

VANCOUVER, BC / ACCESSWIRE / May 10, 2021 / International Millennium Mining Corp. (TSXV:IMI) ("IMMC"), with its wholly owned Nevada subsidiary, International Millennium Mining Inc. ("IMMI") (together the "Company"), is pleased to announce that it has finalized a non-binding letter of intent (the "LOI") with Altair Resources Inc. ("Altair"), in which Altair may acquire up to 65% ownership interest in the Company's Simon Property, located in Nevada, USA (the "Transaction").

Under the terms of the LOI, Altair may acquire a 65% ownership interest in the Simon Property by issuing to the Company an aggregate of five hundred thousand (500,000) common shares in the capital of Altair upon execution of an earn-in option agreement between the Altair and the Company (the "Agreement") and receiving TSX Venture Exchange approval ("TSXV") of the Transaction; making cash payments of US$2,000 per month, beginning August 15, 2021; completing US$85,000 in exploration expenditures on the Simon Property by the first anniversary of the Agreement; and, incurring an aggregate of US$2,115,000 in additional exploration expenditures and issuing an aggregate of two million (2,000,000) additional common shares in the capital of Altair to the Company, over a period of six years from the date of the Agreement. Subject to dilution of interest terms and conditions, the Company would retain a two percent (2%) net smelter return royalty on all future metal production from the Simon Property.

IMMC also announces it has entered an option agreement (the "Option Agreement") to acquire certain mineral claims covering two thousand four hundred (2,400) hectares in three claim groups situated northeast of King's Point on the western side of Notre Dame Bay, in the province of Newfoundland and Labrador. Of particular interest to the Company, are the potential silver/lead/zinc and gold/copper showings within the Green Bay Fault system. Under the terms of the Option Agreement, IMMC has agreed to pay C$6,240 (the "Cash Consideration") and issue three hundred thousand (300,000) common shares in the capital stock of IMMC to the Optionor, subject to receiving TSXV approval. Pursuant to the Option Agreement, the Optionor shall also be entitled to receive a royalty on production equal to one quarter of one percent (0.25%) NSR, of which 100% interest of the NSR can be purchased by IMMC for C$50,000.

The transactions are subject to the necessary approvals from the TSXV. Any securities issued in connection with the transactions will be subject to applicable statutory hold periods for a period of four months from the date of issuance.

John A. Versfelt, Company President, states, "As a result of these transactions, the Company has secured the exploration of its polymetallic Simon Property, Nevada, USA, project, and acquired a position in the Newfoundland Green Bay Fault, gold/copper/silver/zinc belt, adjacent to Vulcan Mineral's Colchester/Springdale gold and copper property." Mr. Versfelt concludes, "These are exciting times for the exploration and mining community, with renewed interest in base and precious metal investment driving exploration in both Canada and the United States. We are pleased to acquire a position in Newfoundland, which is becoming one of North America's more desirable, safe, mining friendly districts, with significant potential for mineral deposits."

International Millennium Mining Corp. (TSXV:IMI) is focused on the exploration and development of its Silver Peak silver-gold project in southwest Nevada. The Company's common shares trade on the Exchange under the symbol: IMI.

ON BEHALF OF THE BOARD

"John A. Versfelt"

John A. Versfelt
President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com), the Company's website (www.immc.ca) or by contacting Mr. John Versfelt, President & CEO of the Company at 604-527-8135.

* * * * * * *

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

SOURCE: International Millennium Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/645880/International-Millennium-Mining-Corp-Announces-Property-Option-Agreements

VANCOUVER, BC, May 10, 2021 /PRNewswire/ – NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE MKT: NXE) is pleased to announce it has mailed the Notice of Meeting and Management Information Circular to shareholders record as of April 30, 2021 in connection with the Annual General and Special Meeting to be held Thursday, June 10, 2021, at 2:00 p.m. (Pacific Time).

Due to the impacts of the COVID-19 pandemic, governmental recommendations and/or orders for physical distancing, restrictions on group gatherings, non-essential travel and business activities we request that shareholders do no attend the meeting in person. To mitigate any risks to stakeholders, employees, partners and community members, the Company will hold this year's meeting by conference call, details below. Shareholders are encouraged to cast their votes in advance by proxy.

Conference Call dial in details:

To join the conference call please dial:

International Callers: (+1) 416 764 8659

North America Callers: (+1) 888 664 6392

Conference ID: 33931792

Shareholders will be asked to vote on the following matters:

1. elect the nine (9) Directors for the ensuing year;

2. re-appoint KPMG LLP as independent auditor of the Company for the 2021 financial year and to authorize the directors to fix their remuneration.

The Board of Directors of NexGen recommends that shareholders vote in favour of all proposed items.

NexGen encourages shareholders to read the meeting materials, which have been filed on SEDAR (www.sedar.com) and are on the Company's website at https://www.nexgenenergy.ca/investors/agm/.

Shareholder Information and Questions

NexGen shareholders who have questions about the management information circular, or require assistance with voting their shares can contact the Company's proxy solicitation agent, Laurel Hill Advisory Group:

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

About NexGen

NexGen is a British Columbia corporation with a focus on developing the Rook I Project located in the south western Athabasca Basin, Saskatchewan, Canada into production. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. NexGen also owns a portfolio of highly prospective uranium properties in the south western Athabasca Basin, Saskatchewan, Canada.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated March 11, 2020 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

View original content:http://www.prnewswire.com/news-releases/nexgen-annual-general-and-special-meeting-of-shareholders-to-be-held-june-10-2021-301287932.html

SOURCE NexGen Energy Ltd.

In this article we will take a look at the 10 best coal stocks to buy now. You can skip our detailed analysis of the coal industry’s outlook for 2021 and some of the major growth catalysts for coal stocks and go directly to the 5 Best Coal Stocks to Buy Now.

Since the beginning of industrialization, coal has been one of the leading energy sources in the world. In the recent years, the global production of coal has been steadily increasing and reached nearly 168 exajoules in 2019, according to Statista. Although developed countries have been pushing for more renewable energy sources for power generation, at least 38% of the electricity generated in the world is still produced by coal. The top producers of coal in the world include China, India, US, Australia, and Indonesia. One of the global leaders of coal mining in the US is Arch Resources Inc (NYSE: ARCH). Among the strongholds of U.S. coal mining are the Appalachian states West Virginia, Kentucky, and Pennsylvania, as well as Wyoming in the West.

According to the International Energy Agency’s report on the coal industry, the world’s biggest producer, importer, and consumer of coal is China which accounts for more than 65% of global coal consumption. Coal remains a cornerstone of electricity generation in China, India, and other Asian nations, which together account for around 75% of global coal demand.

However, the World Economic Forum has named coal to be the single largest source of global energy-related CO2 emissions which can have disastrous effects on the environment. This has led to many developed countries making the shift from coal to other renewable sources of energy to meet their energy demands. Hence, the coal industry is seeing a decline globally in the past few years. In 2019, global demand for coal decreased by 1.8% and power generation from the resource declined by 3%. On the contrary, electricity generation from renewables increased in the year, further squeezing coal and gas generation. The global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020 and by 2025, the demand for coal is estimated to flatten out at around 7.4 billion tonnes.

Coal Stocks Plummeting Amid Carbon Reduction Push

Almost all coal stocks are plummeting amid lack of demand and increasing pressure on coal companies to cut emissions. For example, Warrior Met Coal Inc (NYSE: HCC) stock recently fell after Raymond James analyst Lucas Pipes said that several coal companies will face negative consequences of the latest announcement of China to reduce carbon emissions. The analyst downgraded Warrior Met Coal Inc (NYSE: HCC) to Neutral from Buy and decreased his price target to $22 from $28.

Raymond James is also covering other notable coal stocks including Arch Resources (ARCH), Alliance Resource Partners (ARLP) and Consol Energy (CEIX).

Major energy companies are starting to comply with ESG metrics given the global push towards green and sustainable energy. For example, in its latest quarterly report, Arch Resources Inc (NYSE: ARCH) said that its subsidiary's lost-time incident rate was about 40% better than the industry average. Arch Resources Inc (NYSE: ARCH) said it also continued to reduce its Scope 1 and Scope 2 GHG emissions. The company has cut these GHG emissions by 55% since 2013.

In 2020, countries like Korea and Japan made pledges to reduce coal in the coming years, while Vietnam, Philippines, and Bangladesh are downsizing their planned coal expansions. Countries like Egypt have even cancelled their coal development programs. The UK also plans to phase-out their coal-fired power stations by 2024. There is no doubt that the future of the industry looks very uncertain, and the losses experienced by coal companies are hard to ignore. CONSOL Energy Inc. (NYSE: CEIX) lost its stock value by 44%. According to S&P Global, the stock prices of other large producers such Peabody Energy Corporation (NYSE: BTU), and Alliance Resource Partners, L.P. (NASDAQ: ARLP) have lost a fifth of their value or more since the beginning of the year.

Coal Stocks for Long-Term Investment

However, a deeper analysis shows that there's still a huge demand of coal and coal stocks remain a sound investment option for long-term investors.

According to the International Energy Agency, global demand for coal is set to jump up by 2.6% in 2022 after a drop led by the COVID-19 pandemic. The recovering economic activity is expected to increase the demand for electricity and industrial output, and many developing countries will turn to coal to meet their energy needs. Global coal production is expected to grow at a compound annual growth rate (CAGR) of 2.3% between 2021 and 2025 to reach 8.8 billion in 2025. The best coal companies in the US are on track to take advantage of this growing demand.

Photo by Stephen Philpott on Unsplash

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

Let's discuss our list of the 10 best coal stocks to buy now.

Best Coal Stocks to Buy Now

10. NACCO Industries, Inc. (NYSE: NC)

Number of Hedge Fund Holders: 4 Market Cap: $176.742 million

NACCO Industries, Inc. (NYSE: NC) is an Ohio-based company that ranks 10th in the list of 10 best coal stocks to buy now. Founded in 1913 and headquartered in Cleveland, NACCO Industries, engages in the mining and natural resources businesses. The company operates through three segments: Coal Mining, North American Mining, and Minerals Management. NACCO Industries, Inc. (NYSE: NC) recently announced a consolidated operating profit of $8.3 million and net income of $9.0 million, or $1.25 per diluted share, for the first quarter of 2021 compared with consolidated operating profit of $7.6 million and net income of $6.2 million, or $0.88 per diluted share, for the first quarter of 2020. In addition to the operating profit improvement, net income significantly increased mainly due to changes in the market value of equity securities held. Coal Mining revenues increased in the first quarter of 2021 from the first quarter of 2020 primarily because of reclamation revenue from Caddo Creek. The reclamation at Caddo Creek is expected to be completed in 2022. In 2021, NACCO Industries, Inc. (NYSE: NC) expects coal deliveries to be comparable to 2020 based on current expectations of customer requirements. The strong financial performance of NACCO Industries, Inc. (NC) makes it a great pick for investors today.

At the end of the fourth quarter of 2020, 4 hedge funds tracked by Insider Monkey held stakes worth $8.8 million in the firm.

9. Ramaco Resources, Inc. (NASDAQ: METC)

Number of Hedge Fund Holders: 5 Market Cap: $179.132 million

Ramaco Resources, Inc. (NASDAQ: METC) was founded in 2015 and is based in Lexington, Kentucky. It is one of the top producers of metallurgical coal in the United States. The company primarily sells to blast furnace steel mills and coke plants in the country and also caters to international buyers as well. Currently, Ramaco Resources, Inc. (NASDAQ: METC) is involved in multiple projects throughout the US, including operations in mines in West Virginia, Virginia, and Pennsylvania. The company announced in February that its board has approved expenditure on two new mines which would add almost one million new tons per year of coal with initial production starting in 2021. The total revenue of the company in 2020 was $51.14 million which was a 12.13% year-on-year increase. This increase in revenue is projected to be sustained over the current year with the opening of two new mines by Ramaco Resources, Inc. (NASDAQ: METC). Hence, this coal company has landed the number ­­­­9 spot in the 10 best coal stocks to buy now list.

8. BHP Group (NYSE: BHP)

Number of Hedge Fund Holders: 20 Market Cap: $197.239 billion

BHP Group (NYSE: BHP) is an Australian natural resources business that operates in Australia, China, India, Japan, South Korea, South America, and North America. The company operates through Petroleum, Copper, Iron Ore, and Coal segments. It was was founded in 1851 and is headquartered in Melbourne, Australia. BHP Group (NYSE: BHP) has made it to Insider Monkey’s list of the 10 best coal stocks to buy now. BHP Group (NYSE: BHP) reported a total revenue of $42.9 billion with $2.75 diluted earnings per share in its latest earnings report. In fiscal year 2020, BHP’s underlying EBITDA was $22.1 billion. The current consensus among 16 polled investment analysts is a Buy for BHP Group Ltd according to CNN Business.

Like Warrior Met Coal Inc (NYSE: HCC), Arch Resources Inc (NYSE: ARCH) and Alliance Resource Partners, L.P. (NASDAQ: ARLP), BHP is one of the best coal stocks to invest in now.

At the end of the fourth quarter of 2020, 20 hedge funds in the database of Insider Monkey held stakes worth $1.09 billion in the firm which is an increase from 18 hedge funds the previous quarter holding stakes worth $710 million.

7. Alpha Metallurgical Resources, Inc. (NYSE: AMR)

Number of Hedge Fund Holders: N/A Market Cap: $245.494 million

Alpha Metallurgical Resources, Inc. (NYSE: AMR) is a Tennessee based coal mining company that produces, processes, and sells met and thermal coal to markets in Virginia and West Virginia. In 2020, the company had a total revenue of $1.4 billion and a market cap of $245.49 million. Despite facing a net loss of $55.1 million in the fourth quarter of 2020, Alpha Metallurgical Resources, Inc. (NYSE: AMR) has maintained a strong balance sheet with $139.2 million in unrestricted cash, deposits, and investments. Alpha Metallurgical Resources, Inc. (NYSE: AMR) has also undertaken a strategic shift towards becoming a pure play met company by closing a transaction to divest the Cumberland Mine and related assets. With a current stock price of $13.35 and a quarterly sales growth rate of 6.72%, there is huge potential for this stock to outperform the market. Thus, Alpha Metallurgical Resources, Inc. (NYSE: AMR) has earned the number 7 spot in the 10 best coal stocks to buy now list.

6. CONSOL Energy Inc. (NYSE: CEIX)

Number of Hedge Fund Holders: 15 Market Cap: $442.197 million

CONSOL Energy Inc. (NYSE: CEIX) is one of the largest coal producers in America headquartered in Canonsburg, Pennsylvania. The company has a network of underground coal mines and are also involved in the production of natural gas. CONSOL Energy Inc. (NYSE: CEIX) mines, prepares, and markets thermal coal along with offering coal export terminal services. As of 2020, the company had 657.9 million tons of proven and probable coal reserves at PAMC. According to the latest quarterly earnings report, CONSOL earned a net income of $26.4 million in the first quarter of 2021 and their quarterly adjusted EBITDA was $106.7 million. Additionally, CONSOL’s coal shipments improved to 6.9 million tons which was the highest level achieved since 2019. The company has also witnessed sustained improvements in its seaborne thermal coal market which makes it one of the best coal stocks to buy now. Moreover, due to CONSOL Energy Inc. (NYSE: CEIX)'s natural gas production, it has been able to insulate itself from the general decline in the coal industry.

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

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Disclosure: None. 10 Best Coal Stocks to Buy Now is originally published on Insider Monkey.

VANCOUVER, BC, May 10, 2021 /PRNewswire/ – Capella Minerals Ltd. (TSXV: CMIL) (FRA: N7D2) (the "Company" or "Capella") is pleased to advise that a further 96km² of exploration concessions have been staked immediately adjacent to the existing Kjøli claim block, in order to cover 11 new high-grade copper-zinc targets that were identified through the CARDS Artificial Intelligence ("AI") analysis. These new targets are in addition to the 13 copper-zinc targets and 11 gold-silver targets already identified within the original Kjøli claim block (see Company News Release dated May 5, 2021).

Highlights

• Capella has staked a further 96km² of exploration claims to cover 11 new high-grade copper-zinc targets located adjacent to the original Kjøli claim block (Figure 1).

• Significant potential exists for the discovery of new high-grade copper-zinc deposits immediately adjacent to, and to the NE of, the former Kjøli copper-zinc mine. Three key target areas, each measuring >2km in length, and numerous smaller anomalies have been defined. Historical copper grades from the old Kjøli mine were reported to be 2.9% Cu¹.

Eric Roth, Capella's President and CEO, commented today: "I am pleased to be reporting today that a total of 24 high-grade copper-zinc VMS targets have now been identified at our expanded Kjøli project from the CARDS AI analysis. Four of these targets have strike extensions of over 2km each and clearly represent high-priority targets for drill collar definition and then drill testing. The CARDS AI work has confirmed the prospectivity and upside potential of the Kjøli area, and we look forward to pushing the project along the path to discovery drilling."

About the Kjøli Copper Project

The Company's Kjøli copper-rich VMS project lies in the northern part of the Røros mining district, which saw copper production from a number of high-grade VMS deposits from the mid-1600's through until the mid-1980's. Kjøli represents a district-scale brownfields/greenfields exploration project covering the former Kjøli and Killingdal mining operations, together with approximately 15 km strike of underexplored but highly prospective stratigraphy for the discovery of new copper-rich VMS deposits. Access to the property is excellent, with the main Trondheim-Røros highway and railway line passing by the SW corner of the property. Hydroelectric power is also readily available within the broader Kjøli district.

The Company acquired its 100% interest in the Kjøli Project from EMX Royalty Corp (NYSE: EMX) (TSXV: EMX) in late-2020.

Qualified Persons and Disclosure Statement

The technical information in this news release relating to the Kjøli project has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company's President & CEO, a Director, and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 30 years of experience in international minerals exploration and mining project evaluation.

On Behalf of the Board of Capella Minerals Ltd.

"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO

About Capella Minerals Ltd

Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and copper deposits. The Company's copper focus is on the discovery of high-grade massive sulfide (VMS-type) deposits within district-scale land positions around the past-producing Løkken and Kjøli copper mines in central Norway. The Company's precious metals focus is on the discovery of high-grade gold deposits on its recently acquired Southern Gold Line Project in Sweden, in addition to its active Canadian Joint Ventures with Ethos Gold Corp. at Savant Lake (Ontario) and Yamana Gold Inc. at Domain (Manitoba). The Company also retains a residual interest (subject to an option to purchase agreement with Austral Gold Ltd) in the Sierra Blanca gold-silver project in Santa Cruz, Argentina.

Field activities are ongoing on all projects, with the primary focus being to advance priority targets through the permitting process and onwards to drilling and discovery.

The Company also holds marketable securities in Cerrado Gold Inc. (TSXV:CERT; 833,334 shares) and Ethos Gold Corp. (TSXV:ECC; 2,000,000 shares), providing Capella shareholders with indirect exposure to both exploration and operational success by these Companies.

Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in Capella's most recently filed MD&A. Capella does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.

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

View original content to download multimedia:http://www.prnewswire.com/news-releases/additional-staking-at-kjoli-covers-11-new-high-grade-copper-zinc-targets-301287403.html

SOURCE Capella Minerals Limited

Commodities markets continued to soar on Monday morning in London as news of shortages pushed key metals to all-time highs. 

Copper (HG=F) futures contracts rose 2.4% by 9.30am in London to hit new highs of $4.86. Iron ore was also on a tear in China, surging 10% to a record high. Steel rose 6%. 

"There could be a lot of speculative buying and trading pushing commodities higher but for now there does still seem to be a lot of momentum behind the trade and reasons to think fundamentals will continue to support," said Neil Wilson, chief markets analyst at Markets.com. 

Six of the 10 top FTSE 100 (^FTSE) stocks on Monday morning were miners or commodity traders. Rio Tinto (RIO.L) was up 3.5% by 9.30am in London. BHP Group also (BHP.L) rose 3.4%. Fresnillo (FRES.L) was up 2.2%, while Antofagasta (ANTO.L) rose 2.5%. 

Evraz (EVR.L) and Glencore (GLEN.L) also clocked strong gains of 1.7% and 2.1% respectively. 

The moves upward follow strong gains on Friday when spot iron ore broke $200 (£143) a tonne for the first time and copper hit more than $10,200 per tonne. 

Mining stocks appeared to offset the weakness in the FTSE which rose 0.2% in comparison. It is being dragged down by consumer goods and tobacco companies. 

“The commodities market continues to be on fire with a near-8% rally in iron ore and a 2.6% jump in the price of copper setting the tone for what could be an interesting week on the markets,” said AJ Bell investment director Russ Mould.

“Commodities are being driven by stronger demand as the global economy recovers from the pandemic and supplies are getting tighter."

Read more: European markets mixed after Johnson confirms next stage of UK reopening plan

Analysts at UBS said the near-record copper prices, combined with funding of COVID-19 support packages in Chile, has seen the debate around "super-profits" tax for copper miners re-emerge.

"In our view a more likely outcome is an increase in royalties that negatively impacts earnings/FCF for the miners but would not dramatically change the outlook for Chilean copper output," analysts wrote in a note. "If we are wrong this creates material upside risk to medium-term outlook for copper prices."

Watch: What is inflation and why is it important?

Toronto, Ontario–(Newsfile Corp. – May 10, 2021) – Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce that the Newfoundland and Labrador Environmental Assessment Division has released the Hammerdown Gold Project ("Hammerdown" or the "Project") from Environmental Assessment. Hammerdown is located in the Baie Verte mining district near the towns of King's Point and Springdale.

The proposed Project consists of the construction, operation, decommissioning and remediation of an open pit and underground gold mine, an on-site crushing and sorting plant and associated infrastructure located on the footprint of a brownfield mine site. Final mineral processing to gold dore would occur offsite at the Nugget Pond gold circuit, approximately 140 km by highway from the Hammerdown project site. Maritime recently announced the purchase of the gold circuit from Rambler Metals and Mining Canada (see press release dated April 13, 2021).

"The release of Hammerdown from Environmental Assessment is a significant regulatory milestone for Maritime and our shareholders," commented Garett Macdonald, Maritime's President and Chief Executive Officer. "The Company has made significant progress over the past two years defining an attractive gold project in a top tier jurisdiction where we can leverage a brownfield mine site, local processing infrastructure and sorting technology to reduce the environmental footprint of a proposed new development. We would like to thank our employees, shareholders, local communities and the various government agencies for their work and participation throughout the Environmental Assessment process. We remain committed to developing this project responsibly, respecting the environment and creating a positive influence on our surrounding communities," continued Mr. Macdonald.

The Company registered its proposed gold mine project with the provincial Environmental Assessment Division on July 8, 2020, and submitted an Environmental Preview Report on March 11, 2021, satisfying a regulatory request for additional information. The release from provincial environmental assessment will allow the Company to proceed with obtaining the necessary permits and approvals required to support future development. Both the registration document and the environmental preview report can be found on the Government of Newfoundland and Labrador website https://www.gov.nl.ca/ecc/projects/project-2091/.

About Maritime Resources Corp.

Maritime holds a 100% interest, directly and subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property, including the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King's Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004.

On Behalf of the Board:
Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:
Tania Barreto, CPIR
Head of Investor Relations
1900-110 Yonge Street, Toronto, ON M5C 1T4
416-365-5323
www.maritimeresourcescorp.com

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Caution Regarding Forward-Looking Statements:

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include statements concerning the potential to increase mineral resource and mineral reserve estimates, the Company's decision to restart the Project, the Company's plans regarding depth extension of the deposit at Hammerdown, the Company's plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company's plans regarding drilling targets previously identified, the anticipated timing of receiving permits and approvals for construction and development of Hammerdown, and the Company's decision to acquire new mineral property interests and assets including the Nugget Pond gold circuit and other business opportunities, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether the acquisition of assets and new mineral property interests including the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83503

KINGSTON, ON / ACCESSWIRE / May 10, 2021 / Focus Graphite Inc. (TSX-V:FMS) (the "Company" or "Focus Graphite") announced today that it has signed a Memorandum of Understanding ("MOU") with Australian battery casing technology company Vaulta (Battery Graphene Corp Pty Ltd) and Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) to utilize the collective companies resources to identify collaborative opportunities for the advancement of batteries in key market segments.

Under the terms of the MOU, the companies will work together to conduct market analysis to identify new sectors of interest and co-develop products. The companies plan to combine resources to evaluate, design methodologies and the use of advanced materials suitable for end market product development. Specifically, on March 1st, 2021, Focus Graphite announced the submission of Provisional Patent Application titled: "Advanced Anode Material Comprising Spheroidal Silicon Enhanced Graphite Particles And Process For Making Same". The present invention pertains to the field of electrode materials and in particular the processes for making materials for use as a new generation of lithium-ion battery anode material.

The execution of this MOU creates a framework by which all parties can work collaboratively to establish viable projects and marketing activities to achieve increased market penetration and revenue potential. Additionally, the entities will explore cost effective domestic (North America) manufacturing.

"We are very pleased to sign this important MOU with Vaulta as well as Braille to advance battery technologies, which provides an opportunity to leverage the resources, strengths and talent of the collective companies," said Focus Graphite CEO, Marc Roy. "We will also remain focused on meeting our development milestones to bring the Company's graphite projects into production. By working with Vaulta and Braille, Focus Graphite is reinforcing its commitment to a lower-emission, cleaner future utilizing our graphite resources to power the next-generation of electric vehicles and other end markets."

"We are excited about collaborating with these companies to bring new battery technologies to market. The lightness of our innovative casings, Focus Graphite's technology and high-quality flake graphite will be a real asset in next-generation batteries and other applications in North America and Canada," said Vaulta Founder, Dominic Spooner.

Forward Looking Information

This news release may contain certain forward-looking information and statements, including without limitation, the closing of the Offerings, statements pertaining to the use of proceeds, and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Focus Graphite's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

About Vaulta

Vaulta is a battery casing technology company based in Brisbane, Australia. Its world-first design allows those building batteries to save money, time, weight, and space to utilize in a range of vehicles, while greatly increasing efficiencies in safety and workforce deployment.

About Braille Energy Systems Inc.

Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.

Braille Energy Systems Inc. Investor Contacts:

Scott Anderson
Investor Relations
(858) 229-7063
sanderson@nextcap-ir.com

Judith Mazvihwa-MacLean
CFO
(613) 581-4040
jmazvihwa@mincomcapital.com

About Focus Graphite

Focus Graphite Inc. is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. In a second stage, to meet Québec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is evaluating the feasibility of producing value added specialty graphite products including battery-grade spherical graphite.

Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc. For more information about Focus Graphite, please visit www.focusgraphite.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.

Focus Graphite Investor Contacts:

Scott Anderson
Investor Relations
(858) 229-7063
sanderson@nextcap-ir.com
Focus Graphite Inc.

Judith Mazvihwa-MacLean
CFO
(613) 581-4040
jmazvihwa@focusgraphite.com

SOURCE: Focus Graphite Inc.

View source version on accesswire.com:
https://www.accesswire.com/646014/Focus-Graphite-Signs-MOU-With-Australian-Battery-Casing-Technology-Company-Vaulta-and-Lithium-Battery-Manufacturer-Braille-Energy-Systems-Inc

Figure 1

Proposed drill program

MONTREAL, May 10, 2021 (GLOBE NEWSWIRE) — Vanstar Mining Resources Inc. (“Vanstar”, or the “Company”) (TSX.V – VSR) is pleased to announce its joint venture partner IAMGOLD Corporation (“IAMGOLD” TSX-IMG) has secured a drill rig to complete a drill program on the Nelligan joint venture project (IAMGOLD 75%, Vanstar 25%) located 60 km southwest of Chibougamau, Quebec. The program is expected to begin in the month of June and the plan is to drill 9,000-10,000 m and will include both definition drilling in the main resource area as well as step-out drilling with a focus on the west extension of the known mineralization. This drilling will support the completion of a future updated resource estimate.

Figure 1: Proposed drill program accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5808033d-1984-41f4-8bbf-e2b4f2bcddd6

In addition, exploration activities will also continue to identify and evaluate new targets. Preliminary results from a partial glacial till sampling survey completed in November 2020 and from an IP survey executed this winter have been received and have defined new exploration targets elsewhere on the joint venture property. Additional till sampling is planned and the defined targets will be field-checked this summer in conjunction with a detailed geological and structural mapping program.

About the Nelligan Project

The Nelligan Gold Project is held under an earn-in option to joint venture between IAMGOLD (75%) and Vanstar (25%). IAMGOLD has an option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project.

Mr. Gilles Laverdière, consultant geologist and qualified person under NI 43-101 has read and approved this press release.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the “Discovery of the Year” award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar also owns 100% of the Felix property under development in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property) and 100% of Amanda, a 7,679 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters.

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

SOURCE :

JC St-Amour
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com

Including true width intervals of 6.08 g/t Au over 25.7 m at Stock West, 3.40 g/t Au over 24.3 m at Gold Bar, and 62.5 g/t Au & 5,571 g/t Ag over 2.0 m at San Jose

Figure 1

Stock Mine Trend Longitudinal Section

Figure 2

Stock West Longitudinal Section

Figure 3

Gold Bar Plan View

TORONTO, May 10, 2021 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report strong exploration results from the ongoing drilling at the Stock West project near Timmins, Ontario. The Stock West target, initially discovered in late-2019, is being drill-tested as part of a fully funded two-year $20 million exploration and delineation program at the Fox Complex. Drilling is designed to support a Preliminary Economic Assessment (PEA), currently underway, to evaluate the potential of expanding mining operations. The Company is also pleased to update progress on the $5 million drilling program at the Gold Bar mine property near Eureka, Nevada, where encouraging new results support our confidence in the geological and mineral resource model driving operational improvement. A new drill result from the San Jose Property in Argentina may have meaningful implications for ongoing exploration.

Stock West Drilling, Ontario

A total of 57 holes have been completed at the Stock West target since August 2020. The majority of these are designed to support litho-structural modeling and expand or infill an ongoing mineral inventory estimate. Encouraging new assay results (across true widths) from the 2020-2021 second exploration phase include the following:

• 8.43 g/t Au over 14.3 m including 23.68 g/t Au over 1.1 m – hole S20-138a

• 6.76 g/t Au over 15.6 m including 43.00 g/t Au over 0.4 m – hole S20-148

• 6.08 g/t Au over 25.7 m including 28.30 g/t Au over 0.6 m – hole S20-149

• 6.21 g/t Au over 19.0 m – hole S20-154

• 3.80 g/t Au over 7.3 m – hole S21-157

For several holes, some of which contain visible gold (VG), assay results that are pending. Figure 1 provides a longitudinal section view of the multiple target areas at Stock. Figure 2 focuses on Stock West with a longitudinal view of the mineralization showing the pierce points of the various intercepts detailed in Table 1.

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/d7f7f562-351a-41e3-a51e-aaf8ea22c326

Data from the current drilling campaign is being integrated into the geological and resource models. For a complete list of drilling results at Stock West since August 2020, please visit www.mcewenmining.com.

Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/075f1df3-449f-470d-9460-21bae5c44bb2

Executive Vice President (Exploration) Stephen McGibbon commented: "The recent drilling results from Stock West are less than 1/3 of a mile (500 m) from our Fox Complex mill and are a great example of the near-term growth opportunities that will augment the Company's strategic decision-making over the next two years."

Table 1 – Highlight drill intercepts from the 2020-21 program at Stock West

Mineralization at Stock West is characterized by a bright-green fuchsite-ankerite alteration. This alteration system has now been traced over a 1,600-foot (500-meter) segment of the east-west trending structural corridor. It currently remains poorly tested for two miles (3 km) to the west and below 2,000 feet (600 meters) vertical depth.

Modeling efforts indicate that mineralization shows continuity that may represent an attractive mineable body. This is being evaluated in the upcoming PEA as a potential operation alongside the Grey Fox resource. The goal of the PEA is to evaluate opportunities in the district, including the Fuller and Davidson-Tisdale deposits near Timmins, to understand the potential value represented for future exploration and development work. A total of seven surface drills are active on the Fox Complex, including four at Stock West, one at Stock Main and two drills recently activated at Grey Fox. Drilling will continue during the remainder of 2021.

Gold Bar Drilling, Nevada

McEwen Mining has committed $5 million toward drilling at the Gold Bar Mine in order to delineate new mineral resources, replace mining depletion, and further de-risk the geological and metallurgical models that are the basis of future production planning. During Q1 2021, the resource model reconciliation of actual mining depletion performed within 5% on contained ounces. Recent results are summarized in Table 2 and Figure 3. Core holes drilled partly for metallurgical purposes returned strong mineralization and potentially high gold recoveries (Au:CN Ratio %) from lab-based cyanidation work.

Table 2 – Drill intercepts from metallurgical targeted holes at Gold Bar Mine

Several holes have samples whose assays remain pending and are expected to be reported on in the near future.

The Ridge oriented core drill program successfully confirmed mineralization, locally increasing the average grade of existing resource model blocks and extending mineralization into new areas. This phase of the 2021 program consists of twenty reverse circulation holes and seven oriented core holes for a cumulative 3,417 meters.

Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/a2898b55-a1f1-4ca1-9224-598bcc07cace

San Jose Drilling, Argentina (49% MUX)

McEwen Mining’s joint venture partner and mine operator Hochschild Mining is undertaking a $9.3 million drill program in 2021 at San Jose, of which $5.7 million is earmarked for exploration drilling of priority targets including the Escondida Vein and the Telken target (located proximal to Newmont’s Cerro Negro Mine). In Q1, 1,396 m of drilling was completed at Escondida and Telken. The Escondida Vein is a high-grade exploration target hosting both gold and silver mineralization. Recently, hole SJM-529 intersected 2.0 meters of Escondida vein material containing 62.5 g/t Au and 5,571 g/t Ag. Mineralization to-date has been outlined over a 100-meter strike length by 180-meter vertical extent. Drilling will continue during the second quarter with 1,000 meters planned for resource delineation at Escondida.

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TECHNICAL INFORMATION

Technical information pertaining to Stock West and Gold Bar geology and exploration contained in this news release has been prepared under the supervision of Ken Tylee, P.Geo., a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects." Technical information pertaining to Gold Bar geology and exploration contained in this news release has been prepared under the supervision of Kevin Kunkel, P.Geo., a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

Reliability of Information Regarding San José
Minera Santa Cruz S.A., the owner of the San José Mine, is responsible for and has supplied to the Company all reported results from the San José Mine. McEwen Mining's joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates other than MSC do not accept responsibility for the use of project data or the adequacy or accuracy of this release.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, contain McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to the calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. 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. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.

ABOUT MCEWEN MINING

McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.

Focus on Exploration Discoveries plus Continued Definition of Existing Mineral Resources

VANCOUVER, BC / ACCESSWIRE / May 10, 2021 / Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven") is pleased to announce the 2021 exploration plans for its 100%-owned and road accessible Klaza Project , located in the Dawson Range Gold Belt of southern Yukon. The Klaza Project hosts high-grade epithermal gold and silver mineral resources with positive economics illustrated by the Preliminary Economic Assessment completed in 2020 (See PEA Press Release dated July 13, 2020).

"The 2021 work program combines the hunt for new, large-scale discoveries with continued de-risking of the Klaza Project through focused infill drilling, metallurgical test work and engineering studies," stated Matt Turner, Rockhaven's CEO. "This program is intended to advance the known deposits in support of a planned preliminary feasibility study while simultaneously evaluating the potential for new areas of mineralization extending from the porphyry core to the adjacent high grade gold-silver epithermal vein field, which currently has an impressive 15 km² extent."

The planned 2021 exploration program is fully funded and is scheduled to begin in early June. It will utilize two diamond drills and include 5,000 m of drilling focused on the continued conversion of resources from inferred to indicated and 7,000 m designed to expand the scope of the project by testing high priority exploration targets outside the current mineral resources.

Exploration Drilling

Priority exploration targets include bulk tonnage copper-gold-molybdenum-silver porphyry targets that are likely the main driver for mineralization in the Klaza district and yet are relatively under explored. Porphyry-style targets to be tested in 2021 are:

• Kelly Porphyry Target – Porphyry copper-gold-molybdenum-silver mineralization identified by widely spaced drilling over a 4 km² area will be the focus of two fences of holes testing chargeability high/resistivity low IP anomalies that coincide with magnetic lows and strong copper, molybdenum and gold soil geochemical anomalies. This target lies immediately to the southeast of the vein system hosting the Klaza Deposit and has lithogeochemical and alteration signatures consistent with bulk tonnage porphyry-style mineralization.

• Etzel/Cyprus Porphyry Target – This second lightly explored, bulk-tonnage target is located in a valley bottom, southeast of the Kelly Porphyry. It hosts gold and copper-gold mineralization spread over a 4½ km² area that will be tested by four holes.

Rockhaven also plans to continue to explore for extensions to known higher grade gold-silver vein systems, including the high-grade Western BRX and newly discovered Rusk vein complex:

• Rusk – This vein complex is located 3 km south of the Klaza deposit and was discovered in 2020 when drilling intersected several zones of gold-silver-lead-zinc mineralization over thicknesses of 1-10 m. The 2021 drilling will evaluate the strike extent and grade continuity of the strongest veins, with initial step out holes planned to test near surface mineralization over a 400 m strike length.

• Western BRX Extension – The Western BRX Zone is the highest grade gold zone identified on the property to date and is only lightly explored to the west of the current mineral resource. The 2021 drilling will test for strike extensions of the vein to the west, where coincident magnetic and VLF-EM anomalies have been defined which are similar to those that mark the main mineralized structures at Klaza, including the Western BRX vein.

• Western Chevron – This vein is located south of the Western BRX Zone in the same fault block. This promising target has only been tested by two holes and one trench over a 500 m inferred strike length, all of which produced strong gold-silver intercepts.

Specifics relating to the targets that will be tested by the 2021 drill program are provided in the following sections of this news release. Detailed maps showing the planned drill hole locations can be viewed on the Rockhaven website at www.rockhavenresources.com.

Klaza Deposit Infill Drilling

Infill drilling of the Klaza Deposit will focus on upgrading inferred resources into indicated resources. At present, 60% of the total mineral resources at Klaza are classified as indicated and 40% as inferred. A total of 5,000 m in 33 holes is planned for 2021, which follows up on the previous infill diamond drilling program where upgrading was done at a low cost ($4/ounce) and resulted in an increase in total contained gold, with the indicated mineral resources having higher average gold grades than the corresponding area previously classified as inferred mineral resources. This drilling will also support additional metallurgical test work and engineering studies as the Klaza project continues towards Pre-Feasibility.

Exploration Target Descriptions

The following sections provide additional details concerning the exploration targets prioritized for drilling in 2021.

Rusk Target

The Rusk Target is located 3 km south of the Klaza Deposit and is outlined by a 2.6 km², highly elevated arsenic-in-soil anomaly, which is adjacent to the largest placer gold mine in the Mount Nansen Gold Camp. Drilling in 2020 discovered numerous structures hosting mineralized veins and breccias. The widest structure was cut 25 m below surface in KL-20-470,and averaged 1.42 g/t gold, 30.7 g/t silver, 0.48% lead and 0.60% zinc over 9.80 m. A second, 150 m deeper hit on what is believed to be the same structure in KL-20-471, returned 2.05 g/t gold, 129 g/t silver, 2.29% lead and 4.67% zinc over 5.65 m. The thicknesses encountered in both holes are very encouraging and this structure will be the main focus of 2021 follow-up work, with five diamond drill holes proposed to test 400 m of its strike extent. An additional hole is planned to the north to evaluate a number of other veins in the footwall of the main structure, which roughly coincide with a VLF-EM conductor.

Kelly Porphyry Target

The Klaza mineralized system comprises a zoned epithermal vein complex superimposed on two different but probably related porphyry systems, the Kelly and Etzel/Cyprus Porphyry Targets. The porphyry potential of these areas has been lightly explored intermittently since 1971, with locally encouraging results. Recent geological studies confirm the presence of intrusive rocks within the Kelly and Etzel/Cyprus areas, which represent a protracted magmatic history spanning 15 million years and are contemporaneous with intrusions associated with other large mineralized hydrothermal systems within the Dawson Gold Belt, including the very large Casino copper-gold porphyry deposit located 100 km northwest of Klaza. The intrusive suites analyzed at Klaza have lithogeochemical and alteration signatures prospective for porphyry copper-gold mineralization. This year's program will be the first comprehensive test of the Kelly Porphyry target.

The Kelly Porphyry target area is defined by a very large copper-molybdenum-gold soil geochemical anomaly with coincident magnetic lows, chargeability highs (>70 ms) and resistivity lows (<100 ohm-m). To test these targets, thirteen drill holes are planned in 2021, with most of these holes along two section lines across the Kelly Porphyry Target. The drill holes are designed to test two trends that host most of the known mineralization in the belt, as well as geophysical features and structural orientations observed in nearby trenches.

Etzel/Cyprus Porphyry Target

The Etzel Zone, located only 1 km east of the Kelly Porphyry, is defined by gold, arsenic and silver-in-soil anomalies. The Cyprus Porphyry, located 2 km southeast of Etzel, is a second porphyry system where historical drilling returned promising results, including 56.39 m of 0.17% copper and 0.02% molybdenum.

Drilling at the Etzel Zone in 2020 identified both high-grade structures, which included 9.69 g/t gold, 82.74 g/t silver and 2.62% copper across 1.50 m (KL-20-483) and 838 g/t silver over 1.50 m (KL-20-484) as well as broader sections of bulk tonnage style mineralization averaging 0.25 g/t gold and 17.21 g/t silver over 81.63 m (KL-20-484) and 0.15 g/t gold and 0.7 g/t silver across 162.51 m (KL-20-489). There is a trend toward higher grade gold within the Etzel Zone as it approaches the Cyprus Porphyry target. Testing this trend and determining the relationship between the Etzel Zone and Cyprus Porphyry will be the purpose of four holes in 2021.

Western BRX Extension

Although the Western BRX Zone is the most richest vein discovered to date at Klaza and is one of the main economic drivers in the Klaza Project PEA (estimated payable production of 419,000 oz gold and 6.7 Moz silver coming from the Western BRX alone), very little work has been done to follow the mineralized structure along trend towards the west. A seven hole drill fence is planned to test areas with geophysical signatures that are similar to those seen at the Western BRX Zone (magnetic lows and coincident VLF-EM conductors).

Western Chevron

The Western Chevron target lies 700 m to the south of the Western BRX Zone, within the same fault block, which suggests it could have been deposited in a similar hydrothermal environment. The target has only been tested by one trench and two diamond drill holes. Results from drilling returned 3.09 g/t gold, 78.6 g/t silver, 1.93% lead and 1.04% zinc over 3.38 m (KL-12-108) and 3.97 g/t gold, 94 g/t silver, 1.35% lead and 1.44% zinc over 1.26 m (KL-12-130). The only trench that cut this same structure averaged 3.79 g/t gold, 190.4 g/t silver, and 1.35% lead over 9.2 m, including 6.24 g/t gold, 319 g/t silver and 1.85% lead over 2.61 m (true width). A total of five holes are proposed to test the structure over an approximate 500 m strike length.

COVID-19 Protocols

In order to safely carry out the 2021 exploration program, Rockhaven has instituted extensive COVID-19 protocols designed to protect the workers at Klaza and the citizens of nearby communities. Rockhaven will continue to follow all recommendations from Yukon's Chief Medical Officer.

Qualified Persons

Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

About Rockhaven

Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. The Klaza Deposit has indicated mineral resources of 4.5 Mt containing 686,000 oz gold and 14.1 million oz silver at grades of 4.8 g/t gold and 98 g/t silver, and inferred mineral resources of 5.7 Mt containing 507,000 oz gold and 13.9 million oz silver at grades of 2.8 g/t gold and 76 g/t silver. An updated Preliminary Economic Assessment of the Klaza deposit completed in 2020 returned a Post-Tax NPV(5%) of CAD$378 million and an IRR of 37%, using US$1450/oz gold and US$17/oz silver (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada." which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com.).

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.com

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

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Rockhaven cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the control of Rockhaven. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of Rockhaven to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in Rockhaven's financial statements available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Rockhaven undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: Rockhaven Resources Ltd.

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TSX Venture Exchange: NEV

VANCOUVER, BC, May 10, 2021 /CNW/ – Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the "Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it has entered into a binding letter of intent (the "LOI") with Cypress Development Corp. of Vancouver, BC, Canada (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ("Cypress") for the sale to Cypress of its water rights in Clayton Valley, Nevada (the "Transaction"). The Transaction is pursuant to the terms of the LOI and is a major milestone for Cypress' Clayton Valley Lithium Project, near Silver Peak, Nevada.

Terms of the LOI

The LOI outlines terms for the sale of the Company's water rights to Cypress in exchange for US$3.0 million to be paid in a combination of cash and Cypress shares. The Transaction is anticipated to close in the Third Quarter of 2021 after completion of due diligence by Cypress and the receipt of all necessary regulatory and other approvals, including TSX Venture Exchange acceptance, that are customary for a Transaction of this nature. Cypress will pay Nevada Sunrise a non-refundable deposit of US$25,000 upon execution of the LOI, to be followed by a US$125,000 payment upon completion of a 45-day due diligence period and the execution between the parties of a definitive purchase agreement. Following receipt of necessary approvals and transfer of the water rights to Cypress, payments to the Company on closing will consist of an additional US$2.0 million in cash and the number of common shares of Cypress valued at US$850,000 at closing.

"Nevada Sunrise is pleased to enter into this letter agreement with Cypress" said President and CEO Warren Stanyer. "In less than five years, Cypress has generated a significant lithium asset in the Clayton Valley, and we look to completion of this transaction and our Company becoming a shareholder of a committed lithium developer in the State of Nevada."

Net proceeds received by the Company from the Transaction upon closing will be used to retire legal liabilities totaling approximately US$500,000 incurred during the water rights litigation from 2016 to 2019 (see Nevada Sunrise news releases dated May 16, 2016 and September 30, 2019), and payment of the balance owing to the underlying vendor of the water rights of approximately US$800,000 (see Nevada Sunrise news release dated March 21, 2016).

About the Water Rights

Nevada Sunrise, through its Nevada subsidiary company, Intor Resources Corporation ("Intor"), acquired Nevada water Permit 44411 (the "Permit") from an underlying vendor in 2016. The Permit allows for the beneficial use of 1,770 acre/feet of water for mining, milling and domestic use per year. This amount represents the largest volume of permitted water available in Clayton Valley, which is a fully-appropriated hydrogeographic basin. With the exception of a single limited use permit, the Nevada Division of Water Resources has maintained that no new water is available within the Clayton Valley basin for appropriation. Nevada Sunrise has successfully defended the validity of the Permit in recent years, including negotiating a 2019 settlement agreement with Albemarle Corporation.

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper, cobalt and lithium exploration projects located in the State of Nevada, USA.

The Company's key gold asset is a 20.01% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover where an extensive drilling program concluded in late November 2020.

Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t gold (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t gold¹.

Nevada Sunrise has right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.

Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County. The Company owns Nevada water right Permit 44411, located within the Clayton Valley basin near Silver Peak, Nevada, and water permit 86863, located in the Lida Valley basin, near Lida, Nevada.

FORWARD LOOKING STATEMENTS

All statements in this release, other than statements of historical fact, are "forward-looking information" with respect to Nevada Sunrise Gold Corporation ("Nevada Sunrise") within the meaning of applicable Canadian securities laws, including statements that address the potential sale of the Company's water rights, and the potential for future development of a lithium resource and mineral production by Cypress. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Nevada Sunrise to differ materially from those anticipated in such forward-looking information.

Such factors include, among others, risks related to the potential sale of the Company's water rights, reliance on technical information provided by third parties on the Company's water rights or on Cypress' Clayton Valley lithium project, including access to historical information on exploration, current exploration and development activities; changes in Cypress' project parameters as its plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of the Transaction, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Three Months Ended December 31, 2020, which is available under Company's SEDAR profile at www.sedar.com.

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, 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 information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking statements are made as of the date hereof and accordingly are subject to change after such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Nevada Sunrise does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release. The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.

SOURCE Nevada Sunrise Gold Corporation

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