Metals Exploration plc (LON:MTL) shares have had a really impressive month, gaining 49% after a shaky period beforehand. Longer-term shareholders would be thankful for the recovery in the share price since it's now virtually flat for the year after the recent bounce.

Although its price has surged higher, given close to half the companies in the United Kingdom have price-to-earnings ratios (or "P/E's") above 26x, you may still consider Metals Exploration as a highly attractive investment with its 6.2x P/E ratio. However, the P/E might be quite low for a reason and it requires further investigation to determine if it's justified.

With earnings that are retreating more than the market's of late, Metals Exploration has been very sluggish. It seems that many are expecting the dismal earnings performance to persist, which has repressed the P/E. If you still like the company, you'd want its earnings trajectory to turn around before making any decisions. Or at the very least, you'd be hoping the earnings slide doesn't get any worse if your plan is to pick up some stock while it's out of favour.

View our latest analysis for Metals Exploration

Keen to find out how analysts think Metals Exploration's future stacks up against the industry? In that case, our free report is a great place to start.

What Are Growth Metrics Telling Us About The Low P/E?

There's an inherent assumption that a company should far underperform the market for P/E ratios like Metals Exploration's to be considered reasonable.

Taking a look back first, the company's earnings per share growth last year wasn't something to get excited about as it posted a disappointing decline of 29%. At least EPS has managed not to go completely backwards from three years ago in aggregate, thanks to the earlier period of growth. So it appears to us that the company has had a mixed result in terms of growing earnings over that time.

Turning to the outlook, the next three years should generate growth of 56% per year as estimated by the sole analyst watching the company. Meanwhile, the rest of the market is forecast to only expand by 19% per year, which is noticeably less attractive.

With this information, we find it odd that Metals Exploration is trading at a P/E lower than the market. It looks like most investors are not convinced at all that the company can achieve future growth expectations.

What We Can Learn From Metals Exploration's P/E?

Shares in Metals Exploration are going to need a lot more upward momentum to get the company's P/E out of its slump. It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.

Our examination of Metals Exploration's analyst forecasts revealed that its superior earnings outlook isn't contributing to its P/E anywhere near as much as we would have predicted. There could be some major unobserved threats to earnings preventing the P/E ratio from matching the positive outlook. It appears many are indeed anticipating earnings instability, because these conditions should normally provide a boost to the share price.

You need to take note of risks, for example – Metals Exploration has 5 warning signs (and 2 which are significant) we think you should know about.

Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.

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.

On May 21, we issued an updated research report on Wheaton Precious Metals Corp. WPM. The company is poised to gain from ongoing focus on mine expansions, acquisitions as well as a solid financial position.

Wheaton reported first-quarter 2021 adjusted earnings per share of 36 cents, suggesting year-over-year growth of 53.6%. The bottom-line figure came in line with the Zacks Consensus Estimate. The company generated revenues of a record $324 million during the reported quarter, up 27% on a year-over-year basis. The top line also beat the Zacks Consensus Estimate of $313 million.

Upbeat Production Estimates

Wheaton generates revenues primarily from the sale of precious metals, including gold, silver and palladium. The company has a diversified portfolio of high-quality, long-life assets. It projects production within 720,000 GEOs (Gold Equivalent Ounces) and 780,000 GEOs for 2021, which indicates a year-over-year jump of 12% at the mid-point.

For the current year, Wheaton estimates gold production between 370,000 ounces and 400,000 ounces. The mid-point of the guidance suggests a 5% year-over-year increase.

Silver production for 2021 is projected at 22.5-24 million ounces, calling for a 1% year-over-year rise at the mid-point. This will be driven by higher silver ounces from Cozamin and Keno Hill.

Production of palladium & cobalt is expected in the range of 40,000 GEOs to 45,000 GEOs for 2021. The company has also issued a five-year (2021-2025) guidance, averaging 810,000 GEOs.

Mine Expansion Moves to Drive Growth

Vale S. A’s VALE investment in the Salobo III mine expansion was 73% complete at the end of first-quarter 2021. This expansion will increase the mill throughput capacity by 50% and add to gold production in 2023. Per the precious metals purchase agreement with Vale, effective Jan 1, 2021, Wheaton reported the first production of cobalt from Vale’s Voisey's Bay mine in Canada.

Palladium and gold production from Stillwater will likely increase on the ramp-up of the Sibanye Stillwater's Blitz project, which is expected to reach full capacity in 2024. At Constancia, Hudbay Minerals HBM announced that it has completed the final land user agreement for the Pampacancha deposit. Hudbay now has full access to the site and has begun pit development activities. These expansion projects are anticipated to be growth drivers for Wheaton in the coming years.

Acquisitions to Boost Growth

Wheaton is focused on adding additional production capacity from high-quality accretive metals. Moreover, its business model focuses on reducing risk, while leveraging higher commodity prices. Wheaton remains active on the corporate development front and focused on growing high-quality portfolio of assets.

On Feb 19, Wheaton closed its precious metals purchase agreement with Capstone Mining Corp. to purchase a 50% silver stream from the Cozamin Mine located in Zacatecas, Mexico. On Apr 15, the company wrapped up the deal with Aris Gold Corporation to acquire 6.5% of the gold production and 100% of the silver production from the Marmato Project located in Colombia. On Mar 25, the company entered into an agreement with Capstone to purchase 100% of the payable gold production from the Santo Domingo project located in the Atacama Region, Chile.

Strong Financial Position

The company fully paid a revolving credit facility of $2 billion during the first quarter. Wheaton had $191 million of cash in hand at the end of the first quarter with no outstanding debt. Backed by Wheaton’s cash position, sales volume, revenues and strong operating cash flows, the company announced a quarterly dividend of 14 cents per share, representing an increase of 40% year over year. This is the company’s third quarterly dividend hike in a row. It also provides the flexibility to acquire additional accretive precious metals.

However, there are a few factors that might impede growth in the near term.

The company expects unfavorable impact of the pandemic to dent its results until the situation stabilizes. Even though gold prices have been higher on a year-over-year basis, it has lost 0.7% of its value, year to date. In fact, yellow metal prices had dropped below $1,700 an ounce earlier this year on successful vaccine roll-out and massive stimulus package. The company’s GEOs production guidance assumes gold prices of $1,800 per ounce. If gold prices dip below this level further, this might put the guidance at risk.

Price Performance

Shares of Wheaton have gained 25.1% over the past three months compared with the industry’s growth of 25%.

Zacks Rank & Stocks to Consider

Wheaton currently carries a Zacks Rank #3 (Hold).

A better-ranked stock in the basic materials space is ArcelorMittal MT, which sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ArcelorMittal has a projected earnings growth rate of 984.7% for the current year. The company’s shares have soared nearly 179% in the past year.

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Zacks Investment Research

Altius Minerals Corporation (TSE:ALS) stock is about to trade ex-dividend in 3 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. This means that investors who purchase Altius Minerals' shares on or after the 28th of May will not receive the dividend, which will be paid on the 15th of June.

The company's next dividend payment will be CA$0.05 per share. Last year, in total, the company distributed CA$0.20 to shareholders. Calculating the last year's worth of payments shows that Altius Minerals has a trailing yield of 1.2% on the current share price of CA$16.77. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! So we need to investigate whether Altius Minerals can afford its dividend, and if the dividend could grow.

Check out our latest analysis for Altius Minerals

If a company pays out more in dividends than it earned, then the dividend might become unsustainable – hardly an ideal situation. Altius Minerals paid a dividend last year despite being unprofitable. This might be a one-off event, but it's not a sustainable state of affairs in the long run. Considering the lack of profitability, we also need to check if the company generated enough cash flow to cover the dividend payment. If cash earnings don't cover the dividend, the company would have to pay dividends out of cash in the bank, or by borrowing money, neither of which is long-term sustainable. It distributed 37% of its free cash flow as dividends, a comfortable payout level for most companies.

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

Have Earnings And Dividends Been Growing?

Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Altius Minerals was unprofitable last year, but at least the general trend suggests its earnings have been improving over the past five years. Even so, an unprofitable company whose business does not quickly recover is usually not a good candidate for dividend investors.

Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Altius Minerals has delivered 16% dividend growth per year on average over the past six years. Both per-share earnings and dividends have both been growing rapidly in recent times, which is great to see.

We update our analysis on Altius Minerals every 24 hours, so you can always get the latest insights on its financial health, here.

Final Takeaway

From a dividend perspective, should investors buy or avoid Altius Minerals? We're a bit uncomfortable with it paying a dividend while being loss-making. However, we note that the dividend was covered by cash flow. Overall, it's not a bad combination, but we feel that there are likely more attractive dividend prospects out there.

Curious what other investors think of Altius Minerals? See what analysts are forecasting, with this visualisation of its historical and future estimated earnings and cash flow.

A common investment mistake is buying the first interesting stock you see. Here you can find a list of promising dividend stocks with a greater than 2% yield and an upcoming dividend.

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.

Niche Companies in Technology, Cannabis, Graphene, Precious Metals, and more in Attendance

MIAMI, May 24, 2021 (GLOBE NEWSWIRE) — EmergingGrowth.com a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth Companies and Markets announces the Schedule of the 8^th Emerging Growth Conference.

The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

Register for the conference here.

The schedule for May 26 from 9:00 AM until 4:00 PM is as follows:

(All times are Eastern Time Zone)

We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC

All interested in attending should visit the following link to register. You will then receive an email containing the link and time to sign into the conference.

Register for the conference here.

We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC

These exciting virtual conferences are like attending an “in person” event, you can sign in and out as often as you like.

About EmergingGrowth.com

Founded in 2009, Emerging Growth.com quickly became a leading independent small cap media portal. Over the years, it has developed an extensive history of providing unparalleled content, in identifying emerging growth companies and markets that can be overlooked by the investment community.

The next step in its evolution is the Emerging Growth Conference.

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in an effective and time efficient manner.

The audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.

All Conferences are first announced on Twitter – Follow us on Twitter

All Conference replays emerge on our YouTube Channel – Subscribe to our YouTube Channel

All sessions will be conducted through video webcasts and will take place in the Eastern time zone. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.

If you believe your company, product or service is at the cusp of going mainstream, or you have an idea for an “Emerging Growth” company that might fit our model, contact us here.

Thank you for your interest in our conference, and we look forward to your participation in future conferences.

Contact:

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Phone: 1-305-330-1985
Email: Conference@EmergingGrowth.com

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So should Bear Creek Mining (CVE:BCM) shareholders be worried about its cash burn? For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Bear Creek Mining

When Might Bear Creek Mining Run Out Of Money?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Bear Creek Mining last reported its balance sheet in December 2020, it had zero debt and cash worth US$21m. Looking at the last year, the company burnt through US$13m. Therefore, from December 2020 it had roughly 19 months of cash runway. Notably, analysts forecast that Bear Creek Mining will break even (at a free cash flow level) in about 3 years. That means unless the company reduces its cash burn quickly, it may well look to raise more cash. You can see how its cash balance has changed over time in the image below.

How Is Bear Creek Mining's Cash Burn Changing Over Time?

Because Bear Creek Mining isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Even though it doesn't get us excited, the 25% reduction in cash burn year on year does suggest the company can continue operating for quite some time. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.

Can Bear Creek Mining Raise More Cash Easily?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Bear Creek Mining to raise more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Bear Creek Mining has a market capitalisation of US$186m and burnt through US$13m last year, which is 7.0% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

So, Should We Worry About Bear Creek Mining's Cash Burn?

Bear Creek Mining appears to be in pretty good health when it comes to its cash burn situation. Not only was its cash runway quite good, but its cash burn relative to its market cap was a real positive. One real positive is that analysts are forecasting that the company will reach breakeven. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Bear Creek Mining (1 is potentially serious!) that you should be aware of before investing here.

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

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

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

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.'

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like APN Convenience Retail REIT (ASX:AQR). While that doesn't make the shares worth buying at any price, you can't deny that successful capitalism requires profit, eventually. While a well funded company may sustain losses for years, unless its owners have an endless appetite for subsidizing the customer, it will need to generate a profit eventually, or else breathe its last breath.

Check out our latest analysis for APN Convenience Retail REIT

APN Convenience Retail REIT's Improving Profits

Over the last three years, APN Convenience Retail REIT has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. So I don't think the percent growth rate is particularly meaningful. As a result, I'll zoom in on growth over the last year, instead. APN Convenience Retail REIT boosted its trailing twelve month EPS from AU$0.20 to AU$0.23, in the last year. I doubt many would complain about that 14% gain.

I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). While we note APN Convenience Retail REIT's EBIT margins were flat over the last year, revenue grew by a solid 15% to AU$37m. That's progress.

You can take a look at the company's revenue and earnings growth trend, in the chart below. To see the actual numbers, click on the chart.

The trick, as an investor, is to find companies that are going to perform well in the future, not just in the past. To that end, right now and today, you can check our visualization of consensus analyst forecasts for future APN Convenience Retail REIT EPS 100% free.

Are APN Convenience Retail REIT Insiders Aligned With All Shareholders?

Like that fresh smell in the air when the rains are coming, insider buying fills me with optimistic anticipation. That's because insider buying often indicates that those closest to the company have confidence that the share price will perform well. Of course, we can never be sure what insiders are thinking, we can only judge their actions.

Not only did APN Convenience Retail REIT insiders refrain from selling stock during the year, but they also spent AU$140k buying it. That's nice to see, because it suggests insiders are optimistic. We also note that it was the Independent Director of APN Funds Management Limited, Howard Brenchley, who made the biggest single acquisition, paying AU$90k for shares at about AU$3.61 each.

On top of the insider buying, it's good to see that APN Convenience Retail REIT insiders have a valuable investment in the business. Indeed, they hold AU$19m worth of its stock. That shows significant buy-in, and may indicate conviction in the business strategy. Despite being just 4.1% of the company, the value of that investment is enough to show insiders have plenty riding on the venture.

Is APN Convenience Retail REIT Worth Keeping An Eye On?

One positive for APN Convenience Retail REIT is that it is growing EPS. That's nice to see. Better yet, insiders are significant shareholders, and have been buying more shares. To me, that all makes it well worth a spot on your watchlist, as well as continuing research. Still, you should learn about the 3 warning signs we've spotted with APN Convenience Retail REIT .

As a growth investor I do like to see insider buying. But APN Convenience Retail REIT isn't the only one. You can see a a free list of them here.

Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.

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

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

Vancouver, British Columbia–(Newsfile Corp. – May 21, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has announced a non-brokered private placement. The company is looking to raise gross proceeds of up to $2,060,000 from the placement of both regular and flow-through units.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Great Atlantic" in the search box.

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Up to $1,360,000 will be raised from the placement of up to 2 million flow-through units priced at $0.68 per unit, with another $700,000 to be raised from the placement of up to 1,400,000 regular units priced at $0.50 per unit. Both units will consist of 1 share and 1 warrant, with the warrant exercisable at $0.75 for 36 months.

Subject to and concurrently with the completion of this private placement, Eric Sprott, through 2176423 Ontario Ltd., which is beneficially owned by Mr. Sprott, has agreed to be a back-end purchaser of common shares issued in connection with this private placement.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold. The company is particularly active in the central Newfoundland, where the company has several properties, with the Golden Promise Gold Property being the most advanced, highest priority and largest property.

The Jaclyn Zone, located within the northern region of the Golden Promise Property, hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones.

The Jaclyn Main Zone has a NI 43-101 Resource Estimate of 119,000 ounces of gold. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone.

The company recently reported gold assays for prospecting rock samples and drill core samples from its Golden Promise Property, with all 3 drill holes from the 2020 program intersecting gold bearing veins, extending the Jaclyn North Zone quartz vein system approximately 260 meters east of historic drilling. Rock samples were collected during late 2020 from quartz float boulders east of the Jaclyn North Zone, where the quartz boulder field measures at least 300 meters long and 25 to 75 meters wide. Three quartz float samples from this boulder field returned 157.5, 26.7 and 17.4 g/t gold while seven float samples returned 1.49 to 6.72 g/t gold.

For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com.

About InvestmentPitch Media

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84817

Coal has been sidelined as a fuel source due to rising awareness against emissions, and increasing usage of clean fuel sources like natural gas and other clean renewable energy as energy sources. However, the sudden rise in natural gas price has created a fresh opportunity for the Zacks Coal industry stocks. Per a current release from the U.S. Energy Information Administration (“EIA”), coal production in the United States in going to increase due to higher usage of the commodity in electricity generation.

EIA predicts that electricity usage in the United States will increase 2.2% in 2021, after falling 3.9% in 2020. Also, the usage of coal in electricity generation will increase, primarily due to higher natural gas prices in the United States. Per EIA, coal’s share in U.S. electricity generation will increase to 24% and 23% in 2021 and 2022, respectively, from 20% in 2020.

Given the expected increase in coal usage, EIA predicts coal production to total 582 million short tons (MMst) in 2021, suggesting an increase of 8% or 43 MMst (8%) from the 2020 level. Coal production is further expected to increase 4% or 23 MMst in 2022 from 2021 levels.

In addition, World Steel Association predicted global steel demand to increase 5.8% year over year in 2021 to 1,874.0 million tons (Mt) and further rise 2.7% to 1,924.6 Mt in 2022. Since metallurgical coal is an essential raw material for steel production, it will create export opportunity for U.S. coal producers. Per EIA, U.S coal exports are expected to touch 77 MMst and 87.5 MMst in 2021 and 2022, indicating 11.4% and 13.6% year-over-year growth, respectively.

So, the above prediction from EIA clearly indicates a change in the demand scenario for both thermal and metallurgical coal at least in the 2021-2022 time period. Coal companies that are fighting against drop in prices and demand will have to utilize their resources to meet the sudden change in demand for coal. It is evident that coal stocks will not only benefit from an increase in natural gas prices but also from higher demand from steel industries.

We expect coal companies like Peabody Energy BTU, CONSOL Energy Inc. CEIX and Ramaco Resources, Inc. METC, each currently carrying a Zacks Rank #3 (Hold), to gain from the increase in coal demand. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The 2021 Zacks Consensus Estimate for Peabody, CONSOL Energy and Ramaco Resources indicates a year-over -year increase of 89.9%, 572.9%, and 291.7%, respectively. All the stocks have outperformed the industry in the past six months.

Price Performance

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Toronto, Ontario–(Newsfile Corp. – May 21, 2021) – Royal Fox Gold Inc. (formerly Hornby Bay Mineral Exploration Ltd.) (TSXV: HBE) ("Royal Fox" or the "Company") is pleased to announce the completion of its previously announced reverse takeover transaction (the "Transaction") pursuant to the policies of the TSX Venture Exchange ("TSXV"). In connection with the completion of the Transaction, the Company filed a filing statement dated May 11, 2021 (the "Filing Statement") in support of its application to the TSXV to become a "Mining Issuer" (as that term is defined in the policies of the TSXV). The Filing Statement has been filed on SEDAR under the Company's issuer profile at www.sedar.com. Readers are encouraged to review the Filing Statement for full details on the Transaction.

The Transaction

Pursuant to the terms of the share purchase agreement dated November 30, 2020, as amended March 23, 2021 and April 21, 2021, (collectively, the "Definitive Agreement"), entered into between the Company, Frank Guillemette (the "Principal Shareholder"), Jonathan Girard and Jean-Francois Girard (together with the Principal Shareholder, the "Vendors"), the Company purchased from the Vendors all of the issued and outstanding common shares in the capital of 9396-1217 Quebec Inc., whose sole asset is 100% of the common shares in the capital of 9220-5392 Quebec Inc. o/a Mines Royales Quebec ("MRQ"). MRQ holds an option to acquire a 100% interest in the Philibert property (the "Philibert Property") located in Québec's Chibougamau mining camp. The Definitive Agreement (including the subsequent amendments thereto) has been filed on SEDAR under the Company's issuer profile.

Concurrent Financing

In connection with the Transaction, the Company completed a non-brokered private placement of subscription receipts (each, a "Subscription Receipt") on January 6, 2021 pursuant to which the Company issued an aggregate of 64,890,005 Subscription Receipts for gross proceeds of $3,244,500 (the "Offering").

The gross proceeds of the Offering (the "Escrowed Proceeds") were held in escrow on behalf of the subscribers for the Subscription Receipts by TSX Trust Company (the "Escrow Agent"), pursuant to the terms of a subscription receipt agreement (the "Subscription Receipt Agreement") entered into on January 6, 2021 among the Company and the Escrow Agent. The Company has delivered a notice to the Escrow Agent on May 6, 2021 confirming satisfaction of the applicable escrow release conditions, at which time each Subscription Receipt was automatically converted into one unit (a "Unit") of the Company, and the Escrowed Proceeds were released to the Company. Each Unit is comprised of one common share of Hornby Bay (each, a "Unit Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable by the holder thereof for one common share of the Company (each, a "Warrant Share") until January 6, 2024 at an exercise price of $0.06 per Warrant Share, subject to adjustments in certain events.

The net proceeds of the Offering will be used to fund the cash portion of the consideration payable to MRQ pursuant to the Definitive Agreement and for general corporate purposes.

The securities offered pursuant to the Offering 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, U.S. persons (as defined under the U.S. Securities Act) 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.

TSXV Approval and Resumption of Trading

Trading in the common shares of the Company was previously halted on November 30, 2020 at the request of the Company in connection with the announcement of the Transaction. The Transaction remains subject to final approval by the TSXV and fulfillment of all of the requirements of the TSXV in order to obtain such approval including, among other things, submission and acceptance of all documents requested by the TSXV in its conditional acceptance letter and payment of all outstanding fees to the TSXV. Until final approval of the TSXV is obtained and a Final Exchange Bulletin is issued, trading in the common shares of Royal Fox will remain halted. Upon resumption of trading, the common shares of Royal Fox will trade under the symbol "FOXG" and the Company will be listed as a Tier 2 Mining Issuer.

Name Change

Prior to the completion of the Transaction, the Company changed its name from "Hornby Bay Mineral Exploration Ltd." to its current name, "Royal Fox Gold Inc." in accordance with the provisions of the Business Corporations Act (Ontario).

Management of the Resulting Issuer

In connection with the completion of the Transaction, the current Board of Directors and management of the Company resigned, with the exception of Mr. Arvin Ramos, CPA, CGA, the Chief Financial Officer of the Company and as a result, the following persons were appointed, in the capacities listed below. Brief biographies of the current management team are as follows:

Victor Cantore, Executive Chairman

Mr. Cantore is a seasoned capital markets professional specializing in the resource and hi-tech sectors. He has more than 20 years of advisory and leadership experience having begun his career in 1992 as an investment advisor and then moving into management roles at both public and private companies. During his career he has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. Mr. Cantore is President, CEO and Director of Amex Exploration Inc., a junior mining exploration company, primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province. Mr. Cantore serves on the boards of various companies both private and public.

Simon Marcotte, Director, President and Chief Executive Officer

Mr. Marcotte is a Chartered Financial Analyst (CFA) with over 20 years of experience with a focus on commodities, including more than 10 years in executive positions for junior mining companies. Mr. Marcotte co-founded Mason Graphite Inc. in 2012 and held the position of Vice-President of Corporate Development until February 2018. Under his leadership, Mason Graphite Inc. was awarded the TSX Venture recognition as top 10 performing stock in 2013, the best 50 OTCQX in 2016 and 2017, and was nominated for best investors relations in both 2016 and 2017. At the end of 2017, the company reached a peak market capitalization of $365 million, with approximately 35 institutional shareholders, uncommon for a junior mining company. Prior to 2012, Mr. Marcotte joined Verena Minerals Corp. in 2010, which was then renamed Belo Sun Mining Corp., as Vice-President Corporate Development, working alongside the President and Chief Executive Officer on all decision-making processes and helped develop and implement a turnaround strategy. Mr. Marcotte was also instrumental in raising approximately $100-million in capital for the company, resulting in an increase in market capitalization from $20-million to a peak of $400-million and a share price appreciation of more than 500 per cent over the same period. Mr. Marcotte has been involved with several other mining companies, either as an officer or a director, including with Alderon Iron Ore Corp between 2010 and 2013. Prior to his corporate involvement, Mr. Marcotte was working in senior positions in capital markets with CIBC World Markets, from 1998 to 2006, and with Sprott Securities Inc. and Cormark Securities Inc., from 2006 to 2010, where he also was a member of the board of directors. Mr. Marcotte currently acts as an independent consultant and is actively involved in merchant banking activities in the junior mining industry. Mr. Marcotte is a director of Freeman Gold Corp., which is advancing the Lemhi gold project in Idaho, United States. He is a CFA Charterholder and is a graduate from the University of Sherbrooke.

Jessica Whitton, Corporate Secretary

Ms. Whitton practices corporate and securities law and advises both public and private issuers. Ms. Whitton obtained a Bachelor of Arts (Honours) from Queen's University in 2014, a Bachelor of Laws from the University of Southampton in 2017, and her Certificate of Qualification from the Federation of Law Societies in 2018. Ms. Whitton was called to the Ontario bar in September 2019 and is a member of the Law Society of Ontario. Previously, Ms. Whitton served as Interim CEO of QcX Gold Corp. (formerly First Mexican Gold Corp.). Ms. Whitton currently serves as Corporate Secretary of QcX Gold Corp., Generic Gold Corp., Mindset Pharma Inc. and Ophir Gold Corp.

Frank Guillemette, Director

Mr. Guillemette is an entrepreneur specializing in business finance and venture capital with over 20 years' experience. Mr. Guillemette launched his career as an employee of Fonds Régional de Solidarité Nord-du-Québec where he was responsible for managing the company's regional mining portfolio and was accountable for the associated financial duties. In 2004, he founded 9148-5706 Quebec Inc., a private company operating as Multi-Ressources Boréal ("Multi-Resource Boreal") where he remains active in the management of exploration campaigns and mining land brokerage. Among other successfully executed gold property transactions are the Black Dog project (Formerly called Souart Project) that is located 15 km SW of Osisko Mining's Windfall flagship project and 105 km West of Philibert was sold to Osisko Mining in February 2016 ($1.6 million after the escrow period ended) and an option deal in 2008 on the Monster Lake Project located within 12 km of both Philibert and Nelligan project where TomaGold & IAMGOLD have since invested $10 million in exploration. He was also responsible for managing multi-million dollars exploration fieldworks on gold, base metals, rare earth and other commodities including phosphorus, iron and titanium projects. Mr. Guillemette has also been working for more than 4 years as a "representative of an exempt market dealer" for a Montreal-based exempt market dealer, EMD Financial Inc.

Kelly Malcolm, Director

Mr. Malcolm holds a Bachelor of Science Honours in geology and a Bachelor of Arts in economics, both from Laurentian University. Mr. Malcolm is a Professional Geologist with extensive experience focused on precious and base metal exploration. He specializes in the integration and interpretation of geological, geochemical, and geophysical data to guide exploration and development activities. He has worked in the mineral exploration industry for several junior explorers and mid-tier producers, and has acted as director, advisor, or management for several public and private mineral exploration companies. He also acts as an advisor to several Toronto-based finance firms.

Brad Humphrey, Director

Mr. Humphrey is the president, chief executive officer and a director of QMX Gold Corp. QMX Gold Corporation is a Canadian based resource company traded on the TSXV under the symbol "QMX", with strong shareholders, including Eldorado Gold Corp, Osisko Gold Royalties Ltd., and Probe Metals Inc. The Company is systematically exploring its extensive property position in the Val d'Or mining camp in the Abitibi District of Quebec. QMX Gold is currently drilling in the Val d'Or East portion of its land package focused on the Bonnefond Deposit and in the Bourlamaque Batholith. In addition to its extensive land package QMX Gold owns the strategically located Aurbel gold mill and tailings facility. Mr. Humphrey has over 20 years of international mining experience, predominantly as a precious metals analyst. Prior to joining QMX Gold, Mr. Humphrey worked for Morgan Stanley as an Executive Director and North American Precious Metals Analyst, where he was responsible for growing Morgan Stanley's North American Gold research coverage. Mr. Humphrey was also a Managing Director and Head of Mining Research at Raymond James and covered precious metal equities at CIBC World Markets and Merrill Lynch. Before starting his capital markets career, Mr. Humphrey held a variety of mining industry roles from Corporate Development to contract underground miner.

Principals

As a result of the Transaction, Mr. Guillemette became an "Insider" and a new "Control Person" (as that term is defined in the policies of the TSXV) of the Company. Prior to the completion of the Transaction, Mr. Guillemette did not beneficially own or control any securities of the Company. Upon completion of the Transaction, Mr. Guillemette beneficially owns and controls 58,542,510 common shares of Company representing approximately 24.7% of the issued and outstanding common shares of the Company, on a non-diluted basis. At the annual and special meeting of the Company's shareholders held on January 7, 2021, the disinterested shareholders of the Company approved the creation of a new control person, conditional upon completion of the Transaction.

Additional information regarding the timing of the trading resumption and the status of the Final Exchange Bulletin to be issued by the TSXV in respect of the Transaction will be provided in subsequent news releases of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS
"Simon Marcotte"
Simon Marcotte, President and Chief Executive Officer of Royal Fox Gold Inc.

For further information, please contact:

Simon Marcotte
President and Chief Executive Officer of Royal Fox Gold Inc.
Email: smarcotte@royalfoxgold.com
Website: www.royalfoxgold.com

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

Cautionary Note

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to the TSXV listing, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. 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. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84804

Listed (TSX:LAM; ASX:LAM)

TORONTO, May 21, 2021 /CNW/ – Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) wishes to clarify some recent inquiries regarding an upcoming warrant expiry.

All of the holders of the $0.30 unit financing completed in June 2018 continue to hold a half warrant exercisable at a price of $0.45 per share until June 20, 2021. The warrant was one of two warrants exercised in connection with the financing (described as a "step-up" warrant), but market conditions during the tenure of the step-up period resulted in the second half of the $0.60 warrant expiring without any exercises by unit holders. Given improving market conditions and materially more favorable sentiment towards uranium equities in 2021, all of the warrants Laramide issued in connection with a series of private placement financings beginning in 2017 are now in the money and have begun to contribute to an improved financial picture for the Company.

The most recent quarterly financial disclosure for the first quarter ending March 31, 2021 shows a return to positive working capital and was assisted by warrant exercises of approximately $1.3 million. This trend has continued into Q2 with warrant exercises of a further $900,000 in the current quarter. In total, a further contribution of approximately $16.5 million would be forthcoming should all of the currently in the money warrants ultimately get exercised.

Following a challenging year in 2020 when COVID-19 severely restricted access to our property portfolio in both Australia and New Mexico, USA, the Company is pleased to announce work has resumed towards initiating field programs in both jurisdictions during the latter half of 2021. The approval process with regard to a resumption of exploration activities is currently ongoing, and well advanced, and Laramide plans to provide detailed descriptions of planned activities once the planning process is complete.

In response to the current recovery underway in the sector, Laramide Resources President and CEO Marc Henderson, commented: "Based on the level of interest and recent performance of uranium equities, the market seems to be signalling that the long 10-year bear market in our sector is finally in the rear-view mirror and better prospects lie ahead. While a uranium spot market price around $30/lb does not yet reflect consensus opinion that the price needs to move dramatically higher to address a looming mine supply deficit, it is important to keep in mind that previous transitions from bear to bull markets in the uranium sector had similar set-ups. Nuclear power generation remains one of the longest lead time endeavors that business undertakes, and price discovery changes in uranium, when they occur, tend to be rapid and sharp. It should also be noted that, following a 10-year period of relative indifference and disfavor, nuclear power is now gaining new adherents and acceptance, including prospective inclusion in ESG type investment mandates as governments and opinion leaders recognize that ambitious carbon emission reduction goals are unlikely to be achieved without nuclear power. An improving macro environment should continue to assist the market performance of uranium development equities like Laramide and we believe we are particularly well positioned to benefit given the large scale of our resource base and the geopolitically favorable locations of our assets."

To learn more about Laramide, please visit the Company's website at www.laramide.com.

About Laramide Resources:

Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide's Churchrock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company's Australian advanced stage Westmoreland is one of the largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM.

Forward-looking Statements and Cautionary Language

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.

Actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to place undue reliance on the forward-looking information.

SOURCE Laramide Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/May2021/21/c2689.html

VANCOUVER, British Columbia, May 21, 2021 (GLOBE NEWSWIRE) — Great Quest Fertilizer Ltd (TSXV:GQ) (“Great Quest” or “the Company”) is pleased to provide an update for shareholders on developments within the Company during the trading halt required by the Company’s change of business (“COB”) process. As announced on November 11, 2020, GQ has terminated the COB and will focus instead on the development of the Sanoukou Gold permit in Mali. The Company expects that its common shares will resume trading on the TSX Venture Exchange (“TSXV”) on May 26, 2021.

Given the duration that the Company’s common shares have been halted, the Company has provided the summary below for the benefit of its investors, highlighting the transactions and events that have occurred during the trading halt. Of particular importance, the Company will not be acquiring the shares of 1184700 BC Ltd nor will it be completing a concurrent financing. For more details regarding the termination of the COB, please see below under the heading “Summary and Clarifications of the Terminated Change of Business Transaction”.

Meeting Continued Listing Requirements

Great Quest has submitted an application to renew the key exploration permit for its Sanoukou Gold Project (“Sanoukou” or the “Project”) on February 5, 2021. The current permit for Sanoukou has expired. It was signed for an initial 3-year term plus extensions in November 2017 (see press released dated December 14, 2017) and is renewable for two additional 3-year terms to continue exploration and development at the site for up to 9 years inclusive of extensions. The time limit for examining the renewal request may not exceed 3 months from the date of filing of the request. In practice however, for various reasons including the travel of certain officials or certain unforeseen circumstances, this period may be extended by a few weeks.

Over the course of the second phase (2021-2024), future work will concentrate on a geophysical program with the goal of prospecting the areas between the continuous structures, and auger drilling of geophysical anomalies superimposed on geochemical anomalies. In the next three months, the Company will seek to raise capital for exploration at Sanoukou, and for the addition of new gold exploration properties by way of an equity capital raise. A minimum of C$150,000 is required to complete the work planned on the property over the next twelve months.

Sanoukou Gold Project

In view of renewed interest in gold and gold exploration, Great Quest will renew its focus on the Sanoukou Gold project in southwestern Mali. This is a promising property that has long been considered one of the premier targets along Mali’s Western Gold Belt. Significant high-quality exploration work has been done on the property and artisanal work completed in recent years has revealed evidence of extensive high-grade mineralization which indicates that there is potentially a substantive upside to past exploration.

In excess of US$3 million has been invested in exploration work at Sanoukou; highlights of that work include drill hole SN02, completed by Great Quest (3.4m of 3.2 g/t gold drilled in 2011), and RAB18 (3m at 5.0 g/t gold), RAB53 (19m of 2.6 g/t gold drilled in 2006 by SOMIFIM). Great Quest completed a review of the geology exposed by artisanal work in recent years which indicated that prior drilling may have missed the main structures (see press release dated July 28, 2010). Sampling of the artisanal workings has shown some very high-grade results with 34 samples grading between 0.6 g/t and 24.9 g/t gold (see press release dated September 30, 2013).

Mr. Diner (P.Geol.) has approved the contents of this News Release in relation to the Sanoukou Project. Jed Diner (M.Sc., P.Geol.) is a Qualified Person (QP) pursuant to NI 43-101.

Tilemsi Phosphate Project

Great Quest will continue to advance the phosphate project with the help of Akon Legacy Ventures and private equity partners, however, any newly raised capital and the majority of management attention will be directed towards the Company’s renewed focus on gold. This decision is in the best interests of the shareholders owing to investor perceptions regarding safety and the overwhelming market interest for gold in general and West African gold exploration, specifically. The efforts of international development agencies in the sphere of food security in Africa, combined with rising international phosphate prices, support the Company’s long-held position that the phosphate asset will ultimately realize its true value. Our financing effort will focus on private equity and development capital rather than on the public markets.

Summary and Clarifications of the Terminated Change of Business Transaction

On September 13, 2018, the Company announced it had entered into a non-binding agreement to acquire Ivorienne Noix de Cajou SARL (Ivory Coast Cashew Nut Corporation, “INC”). The primary asset of INC is a 12,000 tonnes per year cashew processing facility near the capital Abidjan, Ivory Coast, West Africa. The facility was slated to begin processing and shelling nuts in March 2019. Great Quest had agreed to pay US$3 million in consideration for INC, in two tranches, US$1 million on closing of the transaction and US$2 million on December 31, 2018. In return, Great Quest was expecting to receive a highly automated processing plant, 4,500 m² of warehouse space, on 6 ha of land in the Azaguié industrial corridor 44km from the Port of Abidjan. In addition, Great Quest was going to assume approximately US$9 million in bank debt, guaranteed by USAID. Upon closing of the transaction, Great Quest would own 80% of the project, 20% will be held by a local contributing partner, an experienced trader in agricultural products, also sourced locally.

On October 2, 2018, the Company announced that it had entered into arm’s length binding agreement, effective September 14, 2018, to acquire the issued shares of INC (the “COB Transaction”). The definitive agreement was subject to certain conditions precedent. The COB Transaction was an arm’s length acquisition of 100% of all the outstanding shares of INC for a total price of USD$3M (the “Acquisition Price”) and the assumption of INC’s debt. On closing, the Company would have to pay USD$1M to INC’s shareholders (the “Vendors”) and provide working capital of USD$1M to INC. On or before December 31, 2018, the Company would have been required to pay the balance of USD$2M to the Vendors. In addition, before closing of the COB Transaction, the Company was required to advance USD$110,000 to INC, which would have been secured by the assets of INC, in order to pay some outstanding debts of INC. The Company confirms the USD$110,000 advance was never paid by the Company.

On December 18, 2018, the Company announced that due to the timeline required for the regulatory approval process of the COB, it would not be able to close the COB Transaction on a timeline acceptable to the Vendors. The Company’s board of directors therefore decided to transfer the Company’s rights and obligations with respect to the COB Transaction to a private entity, 1184700 B.C. Ltd, wholly owned by Mr. Bruce McKean, who was at the time a director and shareholder of the Company and also holder of the three-year term convertible notes issued by the Company. The Company redeemed, pursuant to their terms, part of the convertible notes owned by Mr. McKean in the amount of $2,510,262, which funded the first payment by 1184700 B.C. Ltd (“Privco”) with respect to the closing of the acquisition of INC. Mr. McKean capitalized Privco using the cash he received from the Company from the convertible debenture redemption. Privco closed the acquisition of all of the shares of INC on November 8, 2018. The directors of Privco at the time of closing the transaction were Jed Richardson, current CEO and director of Great Quest, and David Shaw who is also a director of the Company. The operations of INC, which include the start-up operations of INC, were managed by the then management team of GQ under a management agreement between Privco and the Company. The management agreement included the provision to reimburse the Company for its costs in providing the services. A total of $318,555 was reimbursed by Privco to the Company. INC also engaged a local contractor to assist in the start up of the plant.

On November 21, 2019, the Company entered into a non-arm’s length binding agreement (the “Privco Definitive Agreement”) pursuant to which it proposed to acquire all of the issued and outstanding shares of Privco (the “Privco COB Transaction”). Privco at the time was the beneficial shareholder of 80% of the issued shares of INC. The remaining 20% was owned by an arm’s length local partner. The Privco COB Transaction would have constituted a “Change of Business” transaction pursuant to Policy 5.2 – Changes of Business and Reverse Takeovers of the TSXV.

The Privco Definitive Agreement was subject to, among other things, the approval of the TSXV and approval from a majority of disinterested shareholders of the Company. The Privco COB Transaction was not an Arm’s Length Transaction (as such term is defined in TSXV policies). Pursuant to the terms of the Privco Definitive Agreement, the Company had agreed to acquire the one outstanding share of Privco in consideration for one common share of the Company. It was a condition of closing that the Company enter into a debt settlement agreement with Mr. McKean pursuant to which the Company would concurrently issue to Mr. McKean 22,680,000 common shares of the Company (the “Debt Shares”) at a deemed price of $0.30/share to extinguish $6,804,000 debt owed by Privco to Mr. McKean (the “Debt Settlement Transaction”). The debt represents cash loans personally made by Mr. McKean to Privco to further the acquisition of INC and the development of INC’s business. Mr. McKean was also a director of the Company at the time the Privco Definitive Agreement was executed. Mr. McKean owned 5,443,300 common shares of the Company at such time. The issuance of the Debt Shares to Mr. McKean would have resulted in him owning a total of 28,123,301 common shares of the Company, representing approximately 22.31% of the then issued outstanding shares, thus creating a new Control Person under TSXV policies. The Company confirms that the Debt Shares were never issued to Mr. McKean.

On January 16, 2020, Bruce McKean resigned as a director of the Company and the management agreement between INC and Great Quest was terminated. As a result of the termination of the management agreement, Jed Richardson and David Shaw resigned from the board of directors of Privco. The deal was abandoned after unsuccessful attempts to complete a satisfactory audit, required by the TSX Venture exchange.

On November 4, 2020, the Company terminated the Privco COB Transaction pursuant to a (i) termination and mutual release agreement between Great Quest, Mr. McKean and Cajou Investment Holdings Inc. (“CIH”), (ii) loan forgiveness agreement between Great Quest, Mr. McKean and CIH (the “LFA”), and (iii) a share repurchase agreement, as amended, between Great Quest and Mr. McKean (the “SRA”).

As consideration for the termination, (i) and pursuant to the SRA, the Company will repurchase 5,000,000 of its common shares from Mr. McKean for a nominal $1, on the following schedule: (A) 3,113,488 shares have been repurchased and cancelled, and (B) 1,886,512 shall be repurchased and cancelled in thirteen months, and (ii) pursuant to the LFA, Mr. McKean and CIH grant the Company a full and final release from the outstanding remaining convertible debt (approximately $490,000) and any and all other amounts owing by the Company to the transaction counterparties (approximately $515,000). The Company’s board of directors undertook reasonable investigations and reviewed the alternatives in considering and applying their judgment to approve the termination of the Privco COB Transaction and the settlement terms. As part of these deliberations, the directors determined that the aforementioned transactions were fair and reasonable and in the best interests of the Company. The termination of the Privco COB Transaction and the transactions contemplated by the LFA and the SRA were subject to the approval of the TSXV and such approvals have now been obtained.

About Great Quest

Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African gold projects. The Company’s flagship asset is the Sanoukou Gold Project, encompassing 24 km² located in the Kayes region to the West of Mali and developing the Tilemsi Phosphate Project a 1,206 km² parcel in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.

“Jed Richardson”
President, Chief Executive Officer and Director

For more information:

Please contact Jed Richardson by email at info@greatquest.com

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

This news release may contain forward-looking statements. These statements include statements regarding the resumption of trading of the Company’s shares and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Shareholders will probably not be disappointed by the robust results at Energy Metals Limited (ASX:EME) recently and they will be keeping this in mind as they go into the AGM on 28 May 2021. They will probably be more interested in hearing the board discuss future initiatives to further improve the business as they vote on resolutions such as executive remuneration. We have prepared some analysis below and we show why we think CEO compensation looks decent with even the possibility for a raise.

See our latest analysis for Energy Metals

How Does Total Compensation For Shuqing Xiao Compare With Other Companies In The Industry?

Our data indicates that Energy Metals Limited has a market capitalization of AU$43m, and total annual CEO compensation was reported as AU$194k for the year to December 2020. This was the same as last year. In particular, the salary of AU$180.0k, makes up a huge portion of the total compensation being paid to the CEO.

For comparison, other companies in the industry with market capitalizations below AU$257m, reported a median total CEO compensation of AU$325k. In other words, Energy Metals pays its CEO lower than the industry median.

Speaking on an industry level, nearly 68% of total compensation represents salary, while the remainder of 32% is other remuneration. Energy Metals pays out 93% of remuneration in the form of a salary, significantly higher than the industry average. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance.

A Look at Energy Metals Limited's Growth Numbers

Energy Metals Limited has seen its earnings per share (EPS) increase by 3.6% a year over the past three years. Its revenue is down 18% over the previous year.

We generally like to see a little revenue growth, but it is good to see a modest EPS growth at least. These two metrics are moving in different directions, so while it's hard to be confident judging performance, we think the stock is worth watching. We don't have analyst forecasts, but you could get a better understanding of its growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Has Energy Metals Limited Been A Good Investment?

Most shareholders would probably be pleased with Energy Metals Limited for providing a total return of 86% over three years. So they may not be at all concerned if the CEO were to be paid more than is normal for companies around the same size.

In Summary…

Overall, the company hasn't done too poorly performance-wise, but we would like to see some improvement. If it manages to keep up the current streak, CEO remuneration could well be one of shareholders' least concerns. Rather, investors would more likely want to engage on discussions related to key strategic initiatives and future growth opportunities for the company and set their longer-term expectations.

CEO compensation is an important area to keep your eyes on, but we've also need to pay attention to other attributes of the company. That's why we did our research, and identified 3 warning signs for Energy Metals (of which 1 doesn't sit too well with us!) that you should know about in order to have a holistic understanding of the stock.

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

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

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

KELOWNA, BC, May 21, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") announces that Mr Thomas Obradovich has resigned as a director of the Company effective May 18, 2021, due to other commitments that require his attention.

The Company wishes to thank Mr. Obradovich for his service.

SOURCE Cantex Mine Development Corp.

View original content: http://www.newswire.ca/en/releases/archive/May2021/21/c2563.html

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

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

About Plato Gold Corp.

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

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

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

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

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

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

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

For further information, please contact:

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

Forward-Looking Statements

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

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

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

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

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

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

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

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

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

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

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

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

Figure 3. Prospecting sample location map of Jackie Property

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

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

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

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

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

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

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

Project Background

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

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

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

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

Project Geology

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

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

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

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

Geochemical Analysis, Quality Assurance and Quality Control

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

The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits were transferred internally to ALS Global's North Vancouver analytical facility for gold and multi-element analysis. Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24). The retained pulps also were analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42). Over-limit Au and Ag samples were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals were analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).

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

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

Qualified Person

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

About Silver Spruce Resources Inc.

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

Contact:

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

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

info@silverspruceresources.comwww.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

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

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

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/648341/Silver-Spruce-Discovers-New-High-Grade-Exploration-Target-on-Jackie-Au-Ag-Property-Sonora-Mexico-Au-to-965-gt-Ag-to-515-gt

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

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

Summary of Development Updates

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

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

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

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

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

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

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

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

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

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

• On April 15, 2021, Venturex announced that:

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

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

• On April 28, 2021, Alamos announced that:

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

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

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

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

Qualified Person

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

About Vox

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

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

Cautionary Note Regarding Forward Looking Information

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

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

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

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

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

Technical and Third-Party Information

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

SOURCE Vox Royalty Corp.

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

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

Highlights:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

For further information, please contact:

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

Cautionary Statement Regarding Forward Looking Information

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

Cautionary Note Regarding Macusani Concessions

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

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

Highlights:

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

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

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

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

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

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

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

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

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

About Uranium Royalty Corp.

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

Forward Looking Information

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

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

SOURCE Uranium Royalty Corp.

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

NYSE American Symbol – UEC

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

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

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

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

About Uranium Energy Corp

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

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

Safe Harbor Statement

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

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

SOURCE Uranium Energy Corp

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

Highlights:

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

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

  • 13.05 g/t AuEq over 15.1 meters true width

  • 14.11 g/t AuEq over 10.0 meters true width

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

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

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

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

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

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

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

Golddigger Property

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

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

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

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

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

Qualified Person

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

Other

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

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

About Goliath Resources Limited

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

For more information please contact:

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

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

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

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

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

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

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

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

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

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

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

For further information contact:

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

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

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

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

Forward-Looking Statements

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

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

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

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

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

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

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

For additional information please contact:

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

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

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

Check out our latest analysis for Petra Diamonds

What Does The Institutional Ownership Tell Us About Petra Diamonds?

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

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

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

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

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

Insider Ownership Of Petra Diamonds

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

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

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

General Public Ownership

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

Next Steps:

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

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

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

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

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

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

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

Grant of Stock Options

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

About Tsodilo Resources Limited

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

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

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

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

FOR FURTHER INFORMATION PLEASE CONTACT:

SOURCE: Tsodilo Resources Limited

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

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

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

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

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

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

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

About Commerce Resources Corp.

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

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

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

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

SOURCE: Commerce Resources Corp.

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

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

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

Highlights

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

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

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

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

Osprey Zone

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

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

Geneva Zone

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

333 Zone

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

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

Red Willow Project

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

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

About Purepoint

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

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

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

Disclosure regarding forward-looking statements

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

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

SOURCE Purepoint Uranium Group Inc.

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

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

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

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

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

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

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

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

On Behalf of the board of directors

"Christopher R Anderson"

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

Investor Relations:
Please call 604-488-3900

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

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

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

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

SOURCE: Great Atlantic Resources Corp.

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

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

View our latest analysis for Imperial Metals

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

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

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

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

Imperial Metals Corporation's Growth

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

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

Has Imperial Metals Corporation Been A Good Investment?

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

In Summary…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

On behalf of the Board of Candente Copper Corp.

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

info@candentecopper.com
www.candentecopper.com

NR-130

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

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

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

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

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

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

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

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

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

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

"David B Graham"
David Graham
President and CEO

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

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

SOURCE: Bold Ventures Inc.

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