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

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

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

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

First Quantum said proceeds would repay debt.

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

(Reporting by Jeff Lewis; Editing by Andrea Ricci)

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

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for Peabody shares, but what is the fundamental picture for the company? Currently, Peabody is a Zacks Rank #3 (Hold) in the Coal industry that ranks in the Bottom 7% of our Zacks Industry Rank. Over the last 30 days, one analyst has increased the earnings estimates for the current quarter, while none have revised their estimates downward. The net effect has narrowed our Zacks Consensus Estimate for the current quarter from a loss of 91 cents per share to a loss of 80 cents in that period.

Given the way analysts feel about Peabody right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Looking to Trade Options?

Check out the simple yet high-powered approach that Zacks Executive VP Kevin Matras has used to close recent double and triple-digit winners. In addition to impressive profit potential, these trades can actually reduce your risk.

Click to see the trades now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Peabody Energy Corporation (BTU) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

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

TRANSACTION SUMMARY

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

STRATEGIC PARTNERSHIP

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

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

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

ABOUT RAVENSTHORPE

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

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

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

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

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

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

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

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

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

OUR NICKEL BUSINESS

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

ADVISORS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

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

Do Insider Transactions Matter?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, most countries require that the company discloses such transactions to the market.

Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

View our latest analysis for Metallica Minerals

The Last 12 Months Of Insider Transactions At Metallica Minerals

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

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

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

Insiders at Metallica Minerals Have Bought Stock Recently

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

Insider Ownership of Metallica Minerals

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Our data indicates that Metallica Minerals insiders own about AU$1.3m worth of shares (which is 6.4% of the company). However, it's possible that insiders might have an indirect interest through a more complex structure. Whilst better than nothing, we're not overly impressed by these holdings.

What Might The Insider Transactions At Metallica Minerals Tell Us?

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

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

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

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

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

Figure 1

Midland-SOQUEM Alliance Labrador Trough

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

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

Highlights:

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

• Acquisition of 138 claims (63.6 km²)

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

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

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

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

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

Acquisition of mining claims within the area of interest

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

Commencement of electromagnetic VTEM surveys

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

Prospecting programs

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

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

About the Strategic Alliance with SOQUEM

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

About SOQUEM

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

About Midland

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

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

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

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

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

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

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

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

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

Check out our latest analysis for Greenland Minerals

Comparing Greenland Minerals Limited's CEO Compensation With the industry

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

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

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

A Look at Greenland Minerals Limited's Growth Numbers

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

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

Has Greenland Minerals Limited Been A Good Investment?

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

In Summary…

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

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

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

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

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

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

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

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

About the ScoZinc Transaction

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

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

Advisors

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

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

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

Forward-looking Statements

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

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

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

Contacts

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

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

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

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

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

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

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

ENDURANCE GOLD CORPORATION – Robert T. Boyd

FOR FURTHER INFORMATION, PLEASE CONTACT – Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com – www.endurancegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results. The work program is being supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.

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

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

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

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

1. Dr. Gisele Azimi

2. Dr. Christian Ekberg

3. Mr. Furkhat Faizulla

4. Dr. V. I. Lakshmanan

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

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

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

IMC Technical Advisory Board Members

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Contact
Tyler Dinwoodie
President and Executive Director

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

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

View our latest analysis for Americas Gold and Silver

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

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

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

The Bottom Line

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

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

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

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

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

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

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

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

About Southern Silver Exploration Corp.

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

Cerro Las Minitas Project

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

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

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

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

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

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

Oro Project

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

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

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

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

On behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.

President & Director, Southern Silver Exploration Corp.

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

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

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

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

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

Highlights from reported assays:

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

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

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

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

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

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

Oeste Vein discovery

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

Este Vein discovery

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

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

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

Table 1: Additional Drill Intersections

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

AMANCAYA MINE
2021 Plan View Map

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

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

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/690/84498_b1ce449264fdaad1_003full.jpg

Quality Assurance

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

Competent Person

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

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

About Amancaya

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

About Austral Gold

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

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

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

For additional information please contact:

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

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

Forward Looking Statements

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

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

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

VANCOUVER, BC / ACCESSWIRE / May 19, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to report Phase 1 diamond drilling began May 12 at the Virgin Target area, part of a three phase drill program on the Company's wholly owned 586 square kilometer Klondike District Property near Dawson City, Yukon Territory.

Program Highlights:

• 2021 exploration/resource drilling program of approximately 6,500 meters will be distributed over three phases and test multiple target areas

• Phase 1 exploration drilling is underway and focuses on discovering bedrock sources of gold at the historic the Virgin/Lindow Target areas

• Phase 2 drilling at the Lone Star Zone to begin shortly focuses on outlining a maiden resource

• Phase 3 drilling to focus on expanding the discovery at the Stander Zone

Peter Tallman, Klondike Gold's CEO stated, "The primary objective of the 2021 exploration season is to expand known mineralized zones to advance a maiden resource at Lone Star. Additionally we have identified and will test significant new drill targets within the District that could rapidly open up the possibilities for additional discoveries. Our full crew complement is in the field and work is moving along smoothly".

Phase 1 diamond drilling is underway testing the Virgin and Lindow Target areas along Bear Creek, one of the significant placer gold producing creeks during the Klondike gold rush, located 10 km north of the Lone Star and Stander Zones and 6 km from the Company's Dawson City office. (See News Release dated May 4 for target details). The Phase 1 program now includes three holes to test the Virgin Target and at least two holes to test the Lindow Target. A follow up drill program to further test Bear Creek targets is scheduled for September contingent upon positive results.

Phase 2 drilling work at the Lone Star Zone, expected to be the main focus of the Company's 2021 field activity, will follow completion of Phase 1. Phase 2 drill holes will test for parallel gold-bearing structures as imbricate repeats of the Bonanza fault which hosts the Lone Star gold zone as an attempt to significantly expand the ‘footprint' of gold mineralization. Phase 2 drilling will also include infill and step-out expansion tests of the main Lone Star Zone for inclusion in a planned 2022 mineral resource estimate. Deeper tests beneath the shallow drilling that has so far defined the Lone Star Zone are also planned as an attempt to follow gold mineralization to depth.

Phase 3 drilling at the Stander Zone is planned to test for lateral expansions of gold mineralization and to infill between gold mineralized intersections for possible inclusion in a planned 2022 mineral resource estimate.

Figure 1: Planned 2021 Drilling Targets (red stars) including Virgin/Lindow Target, Lone Star Zone and Stander Zone.

QUALIFIED PERSONS REVIEW

The technical and scientific information contained within this news release has been reviewed and approved by Ian Perry, P.Geo., Vice-President Exploration of Klondike Gold Corp. and Qualified Person as defined by National Instrument 43-101 policy. Detailed technical information, specifications, analytical information and procedures can be found on the Company's website.

COVID-19 UPDATE

Klondike Gold continues to take proactive measures to protect the health and safety of our local host community, our contractors and our employees from COVID 19 and exploration activities in 2021 will have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer. Additionally, the Company has received Yukon government approval for our 2021 Alternate Isolation Plan ("AIP") which mandates protocols and stringent isolation safety measures permitting essential personnel to transit to/from Yukon.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr'ondëk Hwëch'in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

President and CEO
(604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

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

Disclaimer for Forward-Looking Information

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

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

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/648089/Klondike-Gold-2021-Diamond-Drilling-Begins

Val-d'Or, Québec–(Newsfile Corp. – May 18, 2021) – Abitibi Royalties Inc. (TSXV: RZZ) (OTC: ATBYF) ("Abitibi Royalties" or the "Company") is pleased to announce that it continues to build its royalty presence throughout the Malartic mining region in Québec. The Company has entered into two agreements with Eagle Ridge Mining Ltd. ("Eagle Ridge", formerly Tamarack Gold Resources Inc.) involving royalties located south of the Canadian Malartic Mine (the "Malartic South Property") (Fig. 1 and 2). The first agreement amends a previous royalty, increasing Abitibi Royalties' interest in the Malartic South Property from a 2% to 3% NSR ("Net Smelter Royalties") on certain claims (see press release dated May 28, 2020). The second agreement expands Abitibi Royalties' NSR to the south with a new 2.5% royalty and 15% of any gross proceeds (cash and shares) should the property be sold or joint ventured. The purchase price paid by the Company totals CDN$26,500, which will be paid in cash.

The Malartic South Property is owned and operated by Eagle Ridge, a private company. The royalties were acquired due to the project's location, favourable geology and the increasing exploration activity in the area. The Company believes that the Malartic region, even with its long history of mining, represents one of the most exciting areas in Canada for exploration due to the discoveries being made at the Odyssey Underground Project.

Eagle Ridge is planning to conduct field-sampling programs and complete a technical report during 2021. The project is believed to have gold and base metal potential based on historical data from the area.

Eagle Ridge is actively looking for partners in order to advance the Malartic South Property. Parties that might be interested in purchasing or optioning the Malartic South Property should contact Eagle Ridge at (416) 303-6684.

About Abitibi Royalties

Abitibi Royalties owns various royalties at the Canadian Malartic Mine near Val-d'Or, Québec. In addition, the Company is building a portfolio of royalties on early-stage properties near producing mines and generating mineral projects for option or sale. The Company is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of shares.

QUALIFIED PERSON

Glenn Mullan, Chairman, is the Qualified Person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) who has reviewed and approved this news release.

For additional information, please contact:

Shanda Kilborn – Director, Corporate Development
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 1-888-392-3857
Email: info@abitibiroyalties.com

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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

Figure 1. New Royalties South of Canadian Malartic Mine

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3322/84398_9b94fec3844f8a7c_002full.jpg

Figure 2. Aerial View from the Malartic South Property

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3322/84398_9b94fec3844f8a7c_003full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84398

(Bloomberg) — Over the past decade, 43 million tons of copper have been mined but never processed. Instead the metal lies trapped in giant piles of waste rock next to dozens of mines from Chile to Australia.

That lost copper — too difficult to extract using conventional mining methods — could ease a looming shortage of the metal that’s sent prices to the highest on record. Startup Jetti Resources said it has the technology to release that stranded metal, which is set to grow more than fivefold by 2050, according to CRU Group. That’s the equivalent of more than a decade’s worth of mine supply and worth $2.4 trillion at current prices.

“It’s a linchpin for unlocking a wasted resource base and converting it into reserves we can use,” said Mike Outwin, chief executive officer and founder of Jetti Resources. “That’s why this problem has been called the holy grail.”

Investors have been piling into copper as global stimulus spurs demand and longer-term projections show supply won’t match the surge in consumption from the green-energy transition. With few new mines being developed, both Trafigura Group, the world’s top copper trader, and Goldman Sachs Group Inc. say prices could hit $15,000 a ton in the coming years.

Jetti, which commissioned the CRU study, said it’s in talks with some of the world’s biggest miners about applying its technology. The company’s board includes former BHP Group CEO Chip Goodyear as well as a former Xstrata Plc CFO and ex-copper heads from Anglo American Plc and Rio Tinto Group.

The Boulder, Colorado-based company has developed a catalyst that can liberate copper from low-grade chalcopyrite ores — which can have a metal content of well below 1% — by disrupting the sulfur metal bond of the mineral. Traditional leaching methods, which dissolve the metal to form a weak solution of copper sulphate, lead to a film forming over the copper in these ores, preventing it from being extracted.

The new process can be bolted on to existing plants and increase production by 20% to 100% depending on the type of operation, according to Jetti.

The company installed its first commercial plant last year at a mine in Arizona run by Capstone Mining Corp. Capstone says that by processing millions of tons of waste rock, it hopes to produce an additional 350 million pounds of copper — worth more than $1.6 billion at current prices — in the next two decades.

Jetti has a pipeline of 23 projects at various stages, including five pilots and three operations that it’s looking to transition to commercial status in the next year or so. By the middle of the decade, its plants could start having a material impact on global copper supply.

“We’re just emerging from our early commercial phase into a growth phase,” said Outwin. “The big chunky part of our pipeline, when we start spending money with our partners, will be in 2023 and 2024, and at that stage there will be a material amount of copper being delivered from those operations.”

Processing millions of tons of copper that’s already been mined will extend the life of existing mines and allow new projects to process lower quality ore from the start.

Still, while Jetti’s innovation could extract millions of tons of copper over the next three decades, it won’t revolutionize production in the way new technologies did with shale or even nickel. Instead, it will help fill the looming supply gap.

“We’re unlocking a colossal, stranded resource, but we’re not going to be doing it in an incredibly short period of time that swamps the industry with excessive production or at a dramatically lower cost than is currently done,” said Outwin.

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

TORONTO, May 18, 2021 (GLOBE NEWSWIRE) — Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced the release of its integrated annual and sustainability report (“Annual Sustainability Report”). The Annual Sustainability Report provides transparency and progress on key accomplishments and initiatives in 2020. Hudbay believes that continuously improving how the company manages the social, environmental and economic risks, impacts and opportunities associated with its activities is critical for the company’s long-term success.

• Hudbay’s 2020 Annual Sustainability Report disclosures were mapped to the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) Metals & Mining industry standard and the Task Force on Climate-related Financial Disclosures (TCFD). Hudbay also provides disclosure through the CDP Climate, Water, and Forests questionnaires.

• To inform Hudbay’s sustainability programs and improve its performance, the company applies and voluntarily supports several international best practice standards, including ISO 14001, ISO 45001, ISO 9001, Towards Sustainable Mining, the Voluntary Principles on Security and Human Rights and International Finance Corporation (IFC) Performance Standards.

• As a member of the Mining Association of Canada, Hudbay implements the Towards Sustainable Mining (TSM) Protocols at all of its operations, with the goal to maintain a score of “A” or higher for all protocols. The implementation of the TSM Tailings protocol and the company’s commitment to ensuring that its Tailings Storage Facilities are constructed following the Canadian Dam Safety Guidelines represents substantial alignment to the new Global Tailings Standard released in 2020.

• Over 50% of Hudbay’s total energy consumption in 2020 was from renewable sources. All electricity at Hudbay’s operations is supplied by third parties via regional grids. Nearly all of the electricity produced in Manitoba is through renewable hydropower and, in Peru, over 50% is from renewable sources.

• Constancia continued its leading safety track record among Peruvian copper mines and was the first mine in Peru to obtain the SafeGuard certification, recognizing full compliance with all COVID-19 safety protocols.

• Manitoba achieved its annual safety targets and continuous operations in an environment of enhanced COVID-19 safety protocols and controls, while working closely with the local health authorities.

• Hudbay recognizes the opportunity that the mining industry has to positively contribute to the 17 UN Sustainable Development Goals (SDGs) that are a part of the UN’s 2030 Agenda for Sustainable Development.

• At the end of 2020, Hudbay established a Diversity and Inclusion Committee composed of employees at the corporate office. The committee will advise management on diversity, inclusion and equity topics and ideas, and help further our values and commitments, including those outlined in the company’s commitment to the BlackNorth CEO Pledge.

• In terms of gender diversity, Hudbay supports the Catalyst Accord 2022 and the 30% Club, both of which call for the advancement of women in business, and the Board has adopted a stand-alone Diversity Policy that includes a target for the company to have at least 30% women directors.

“In 2020, like the rest of the world, Hudbay was confronted by the challenge of COVID-19. Thanks to the dedication of the many people across our organization, we were able to meet that challenge successfully and protect the well-being of our employees and communities while continuing our operations,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “Against a background of challenging political situations, we acknowledged the imperative of addressing climate change, and a renewed expectation that businesses must contribute to building a more inclusive society. While our Annual Sustainability Report focuses on what we achieved in 2020, I see these accomplishments as the foundation for long-term growth and exceptional results.”

Details of the company’s annual and sustainability results can be found on Hudbay’s website at: https://hudbayminerals.com/disclosure-centre/default.aspx and the full Annual Sustainability Report can be downloaded here.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). All of the forward-looking information in this news release is qualified by this cautionary note. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information are described under the heading “Risk Factors” in our most recent annual information form for the year ended December 31, 2020 and our management’s discussion and analysis for the three months ended March 31, 2021. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, you should not place undue reliance on forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

About Hudbay

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States). The company’s growth strategy is focused on the exploration, development, operation and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay’s vision is to be a responsible, top-tier operator of long-life, low-cost mines in the Americas. Hudbay’s mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Further information about Hudbay can be found on www.hudbay.com.

For investor and media inquiries, please contact:

Candace Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com

Alliance Resource Partners, L.P. (ARLP) shares ended the last trading session 6.1% higher at $6.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5% gain over the past four weeks.

Alliance Resource Partners’ first-quarter earnings per unit were better than expected. The firm is benefiting from improving operational efficiency, which in turn is reducing operating expenses. Buying activity from domestic and international customers has enabled the company to secure new commitments for the delivery of nearly 5.4 million tons through 2023.

The firm is gaining from high oil, natural gas and natural gas liquids prices in the United States and greater-than-anticipated sales volumes have boosted performance of its Oil and Gas Royalties segment.

Price and Consensus

This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +151.4%. Revenues are expected to be $375.1 million, up 47% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Alliance Resource Partners, L.P., the consensus EPS estimate for the quarter has been revised 11.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ARLP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Alliance Resource Partners, L.P. (ARLP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Calgary, Alberta–(Newsfile Corp. – May 18, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to provide an update on the status of its permit application at its Record Ridge magnesium deposit located at Rossland, British Columbia ("Record Ridge" or the "Project") and on the progress and development of its proprietary metallurgical process to "Stage-2 PFS" by successfully conducting additional laboratory test work (the "Testing Project") at the facility (the "KPM Facility") owned and operated by Kingston Process Metallurgy Inc. ("KPM"). The Testing Project has been supported in part by advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (the "NRC IRAP").

Record Ridge Mining Permit

The Company initially retained Greenwood Environmental Inc. and SRK Consulting (Canada) Inc. (together, the "Consultants") in 2019 to be co-lead consultants in pursuit of the industrial mineral mine permit (the "Permit") at Record Ridge. The Consultants assisted the Company in the submission of its Permit to the (then) British Columbia Ministry of Mines (the "Ministry") in February 2019. For Permits such as the one submitted by the Company, the Ministry has established a multi-step permit review process where major issues are identified upfront, followed by a detailed review. In 2019, the Consultants successfully completed a baseline and environmental study (the "Study") in response to a request from the Ministry. The results of the Study showed no major baseline or environmental issues at Record Ridge, thus satisfying the Ministry's initial permit review threshold. Subsequent review steps by the Ministry will focus on the details of the Project's environmental monitoring and management.

Further work on securing the Permit was put on hold by the Company in 2020 due to financial challenges attributed mainly to the COVID-19 pandemic. After having recently secured the necessary financing to cover the remainder of the Permit costs, West High Yield recently re-engaged the Consultants to resume their work on the Permit application process. The Company is currently in the third and final review stage mandated by the Ministry, such stage expected to require six to nine months to be completed and to obtain Ministry approval.

Metallurgical Process Development

Previous work in respect of the Testing Project was done in 2019 by KPM resulting in the completed "Stage-1 PFS", and demonstrated that the ore from Record Ridge can be successfully leached using proprietary hydrochloric acid ("HCl") leaching and that the resultant magnesium chloride (MgCl₂) solution can be purified using standard hydrometallurgical techniques to >99 wt% MgCl₂. It was concluded that this solution would be suitable to produce saleable high purity (>99%) magnesium oxide ("MgO") and magnesium hydroxide ("Mg(OH)₂") products.

The Company re-engaged KPM in January 2021 to conduct "Stage-2 PFS" with the objective of continuing process development on the pathway to commercialization by performing a set of laboratory scale experimental test work to validate the designed flowsheet for production of high purity MgO and Mg(OH)₂ products and saleable by-products including nickel chloride ("NiCl₂"), nickel oxide ("NiO"), iron oxide ("Fe2O₃") and silica ("SiO₂"). The "Stage-2 PFS" phase of the Testing Project was supported in part by advisory services and research and development funding from the NRC IRAP.

On April 28, 2021, KPM reported successful test work results that validated the chemistry and process conditions proposed to produce high purity MgO main product, and nickel oxide, iron oxide and silica by-products. A technical grade >98wt% pure MgO as well as high grade, >99% MgO were achieved by the proposed 'static' roasting-washing-calcination process. Final results are expected shortly for the spray roasting process that was successfully tested.

High purity SiO₂ was produced as by-product using chemical treatment of the initial leach residue. Fe solid residue was obtained in the Fe/Ni recovery section using pyrohydrolysis process from the solid filter cake obtained from magnesium chloride purification stream. This was further calcined to produce pure Fe₂O₃ by-product. Intermediate iron hydroxide FeO(OH) was obtained, which could also prove to be a valuable by-product. Finally, nickel chloride and oxide were also obtained in the subsequent tests. A preliminary commercial scale flowsheet and mass and energy balance were prepared based on the test results.

KPM recommended that the project proceed to the next stage that would include further test-work to study and optimize the various nickel, silica and iron by-products, followed by a techno-economic evaluation and preliminary engineering design and costing work as part of the prefeasibility study required ahead of a pilot demonstration of the process.

All of the aforementioned process work to date directionally demonstrates that the proprietary process has the potential to extract the highest purity products, with the highest yields, for the lowest comparable cost, with minimal environmental impact.

Statement from the Company

"We are very optimistic and excited with the progress that the Company is making in advancing the Record Ridge deposit through the pursuit of the mining permitting process, which has reached its final stage, and through further advancing our proprietary process development, having recently successfully finished Stage-2 PFS. We are also extremely pleased to have support from NRC IRAP for this project. As the Company advances to these critical stages of the Project, it is becoming increasingly aware of the value of the many years of continuous geological, environmental and processing works that have been completed at Record Ridge. West High Yield is very thankful for the dedication of its team and its partners to advance this important work in a current uncertain environment. The Company's recent financings put it in a strong position to continue to move Record Ridge forward toward finishing critical de-risking milestones," said Frank Marasco Jr., West High Yield's Chief Executive Officer and President.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: frank@whyresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84389

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

VANCOUVER, BC, May 18, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") announces that the 2021 exploration field program will commence immediately on the newly discovered Equity East anomaly on its Silver Hope Property.

The focus of the field program will be on the newly discovered Equity East Zone: a multi-element, 3 kilometer (km) long (and open-ended) soil anomaly, immediately down-ice from a 5km long ZTEM airborne geophysical anomaly.

This Equity East soil – ZTEM feature is parallel to the MAIN – Equity Silver Mine trend which is 5km to the west and which hosted the historical Equity Silver open pit and underground mines (32.63M tonnes milled which produced 71.36 million oz. of silver (Ag), 508,000 oz. of gold (Au), and 185.4 million lbs. of copper (Cu) *), now owned by Newmont Corp, and Finlay's MAIN Trend mineralization. (CLICK HERE to view the map of the area of work on the Silver Hope Property).

The primary focus at the Equity East will be a reconnaissance induced polarization (IP) ground geophysical survey (16 line-km) to determine if the mineralization of the soil anomaly is related to the ZTEM feature. The soil grid will be expanded, and a detailed program of geological mapping and prospecting will be conducted.

Exploration is targeting both structurally related replacement, Equity Silver type Ag-Au-Cu mineralization (+100M oz. silver equivalent (AgEq), as well as Cu-Au-Mo-Ag porphyry intrusions) with the goal of generating drill targets.

Qualified Person:

Robert Brown, P. Eng., a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company's properties are:

• the Silver Hope Property, which surrounds the former Equity Silver Mine, includes:

  1) the Equity East discovery of 2020,

  2) the porphyry copper-molybdenum mineralization discovered in 2010, and

  3) three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mine (71.36 million oz. silver, 185.4 million lbs. copper and 508,000 oz. gold); *Reference: http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001;

• the ATTY Property which is contiguous to the north side of the Kemess East deposit and next to the Kemess Underground deposit of Centerra Gold Inc., and

• the PIL Property, which is next to Sable Resource's Baker Mine, has nine known mineralized zones including the recently discovered and expanded Pillar East gold-silver structural system. The Company is focused on the discovery of Cu-Au-Mo porphyry systems on the PIL Property.

Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at www.finlayminerals.com.

On behalf of the Board of Directors,

Robert F. Brown, P. Eng.,
CEO & President

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

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Company's Silver Hope Property. Although Finlay 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE Finlay Minerals Ltd.

View original content: http://www.newswire.ca/en/releases/archive/May2021/18/c8721.html

VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces closing of a non-brokered private placement (the “Placement”) of 7,900,000 units (the Units”) at a price of $0.10 per Unit for total gross proceeds $790,000, effective May 17, 2021. The Placement was initially announced for $500,000 and subsequently increased to $750,000 through news releases on April 27 and May 11, 2021. The closing of the Placement is subject to final acceptance by the TSX Venture Exchange. The securities issuable in connection with the Placement are subject to a hold period expiring four months and one day after the date of issuance. A finder’s fee of 6% for $5,700 is payable on part of the proceeds of the Placement. The proceeds will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

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

In accordance with the Company’s Stock Option Plan, the Company has granted 1,900,000 incentive stock options to Directors, Officers, Consultants and Employees. The options are exercisable at a price of $0.15 and valid for five years from the date of grant. The options are being granted as part of the Company’s annual review of outstanding stock options under its Stock Option Plan.

About Canasil:

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

For further information please contact:

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

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

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

Vancouver, British Columbia–(Newsfile Corp. – May 18, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to report results for the quarter ended March 31, 2021 ("Q1-2021"). The Company's filings for the quarter are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission's website at www.sec.gov, and on EMX's website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q1-2021

Financial Update

All dollar amounts in this news release are Canadian dollars (CDN) unless otherwise noted.

• EMX ended the three-month period at March 31, 2021 with a balance sheet including cash and cash equivalents of $49,200,000, investments, strategic investments, receivables, and loans receivable valued at $24,197,000, and no debt.

• EMX had revenue of $1,298,000 which includes royalty income, other property income including income from the sale or option of property interests and management fees, and interest and dividends earned on cash and investment balances. Included in revenues was royalty income of $392,000 and $398,000 for the fair value of equity positions received on the sale and option of property interests. Revenues for Q1-2021 increased compared to Q1-2020 with an increase in option and other property income, and dividend income offset by a decrease in interest income.

• Royalty generation costs totaled $4,027,000 of which the Company recovered $2,740,000 from partners.

• General and administrative expenses totaled $1,851,000 which includes $985,000 in salaries and consultants, $274,000 in administrative costs, $213,000 in professional fees, $187,000 in transfer agent and filing fees, $20,000 in travel, and $172,000 in investor relations costs. General and administrative costs can fluctuate from period to period depending on activity and timing of comparable costs.

• For the quarter, the Company had a net loss from operations of $2,648,000 including $255,000 in depletion and depreciation costs, and $542,000 in share-based compensation. Other items affecting net loss and financial results in Q1-2021 include a realized gain of $441,000 on the sale of marketable securities, the Company's share of income in an associated entity of $221,000, a fair value loss on investments of $1,321,000, and a foreign exchange adjustment of $1,117,000. The foreign exchange adjustment was a direct result of holding USD cash and net assets denominated in USD.

Operational Update

EMX's royalty and mineral property portfolio totals over 200 projects on five continents. The following discussion summarizes the work conducted in Q1-2021, as well as subsequent events, by the Company and its partners.

• In North America, EMX received provisional payments of approximately US$210,000 from the sale of 120 gold ounces produced at the Leeville royalty property in Nevada's Northern Carlin Trend. At the Gold Bar South royalty property in Nevada, operator McEwen Mining disclosed first time open pit constrained reserves as part its Gold Bar Mine feasibility study. On the royalty generation front, EMX optioned one gold project in Idaho, and six copper projects in Arizona, New Mexico, and Utah. As partnered properties were advanced, the Company's royalty generation programs added new gold and copper projects to the portfolio by staking open ground.

  EMX's royalty and mineral asset portfolio in key mining districts of Ontario and Quebec, including the Red Lake camp, generated $168,000 in cash and fair value equity payments.

• EMX filed a Technical Report titled "NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia" authored by Mineral Resource Management LLC on SEDAR in Q1-2021. Timok operator Zijin Mining Group Co. Ltd. continued on pace with development of the Upper Zone copper-gold project which is covered by an EMX 0.5% NSR royalty.

• In Fennoscandia, the Company optioned six precious and battery metals projects for share equity, advance royalty payments, and NSR royalty interests to EMX's benefit. The Company also executed a definitive agreement with Gold Line Resources and Agnico Eagle, by which Gold Line can acquire a 100% interest in Agnico's Oijärvi gold project in Finland and the Solvik gold project in Sweden for staged cash payments as well as shares of Gold Line and shares of EMX. Agnico will retain a 2% NSR royalty on the projects, 1% (half) of which may be purchased by EMX for US$1,000,000, with EMX receiving additional share and cash payments from Gold Line as reimbursement for the EMX shares issued to Agnico. As these new deals were consummated, partner companies continued to advance EMX's royalty properties, which included encouraging results from Norden's drill programs at the Gumsberg VMS project in Sweden's Bergslagen mining district.

  EMX is a leading explorer and holder of mineral rights in Fennoscandia, and in Q1-2021 further bolstered the portfolio by adding 37,500 hectares of mineral exploration permits covering the zinc-lead-copper-silver-gold occurrences and historical mines of the Mo-i-Rana district in central Norway.

• In Australia, the Company received the grant of an exploration permit in the Mt Steadman region, and subsequently expanded the land positions at the Yarrol and Mt Steadman gold projects through the acquisition of additional permits from a third party which cover multiple historical drill defined zones of mineralization. Both projects are located in the goldfields of central-Queensland and are available for partnership.

• In Turkey, EMX was advised by the operator of the Balya lead-zinc-silver royalty property that ongoing development and resource delineation programs are expected to generate initial production royalties later in 2021.

• During Q1-2021, the Company increased its equity interest to 24.97% in Rawhide Acquisition Holding LLC ("RAH") by making an additional investment of US$1.25 million. RAH is a privately-held Delaware company that owns the Rawhide gold-silver mining operation in Nevada. RAH advised EMX that 5,829 ounces of gold and 51,330 ounces of silver were sold during the quarter at average prices of US$1,830/oz gold and US$26.58/oz silver. This yielded US$12.0 million in total revenue, which after costs and deductions, resulted in a net loss before tax to RAH. A portion of EMX's recent investment is being utilized to conduct a) cost efficient drill programs to delineate additional gold-silver mineralization, b) field work to identify district scale exploration opportunities, and c) drilling, sampling, and metallurgical test programs to characterize historical open pit back fill material as potential sources of mineralized material for processing.

Corporate Update

EMX is diligently monitoring developments regarding the novel coronavirus pandemic ("COVID-19"), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates.

EMX's priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19 and assess and mitigate the risks to business continuity. Although restrictions remain in place for many jurisdictions where the Company operates (e.g., travel restrictions, etc.), EMX's field programs are up-and-running with in-country based staff.

OUTLOOK

EMX ended Q1-2021 with $49.2 million in cash, $13.2 million in tradable securities, $5.9 million in private company equity, and $4.3 million in strategic investments. The Company is off to a great start this year with four new partners, optioning six nickel-copper-PGE-cobalt projects in Scandinavia, two Arizona copper projects and one Idaho gold project, and one copper project in Utah, to privately held companies. These transactions provide EMX with unique upside opportunities. Besides the immediate benefit to EMX of cash payments and equity stakes in our partners, there is the optionality of exploration discoveries and retained royalty interests, as well as the commercial upside if any one of these partners proceed with an IPO founded upon a core of assets provided by EMX. Success cases of this approach include Ridgeline Minerals with the Swift and Selena Carlin-type deposits in Nevada, which are now EMX royalty properties, and Gold Line Resources with a portfolio of gold projects in Sweden covered by EMX royalty interests.

Our recent cooperation with Gold Line on the Oijarvi and Solvik transaction with Agnico further highlights the excellent working relationships EMX strives to foster with its partners. In this case, EMX identified the Agnico opportunities, brought them to Gold Line, and facilitated a deal whereby Gold Line will acquire the two gold properties with EMX receiving additional equity interest in GLDL and cash payments, as well as retaining the option to acquire a royalty interest in the projects. This is a win-win-win outcome for the three parties involved.

Also in Q1-2021, three copper projects (two in Arizona and one in New Mexico) were optioned to our long standing RSA partner South32. South32 has been a solid and supportive partner, and the recent renewal of the copper RSA covering exploration for the years 2021-2022 is a strong vote of confidence. EMX is well positioned for a copper discovery in the southwestern U.S. with backing from an industry major, and programs focused on innovative exploration approaches, field work, and drill testing.

As projects are being partnered, the Company's royalty generation teams continue to organically grow the portfolio by acquiring new precious, base, and battery metals properties in Fennoscandia, the western U.S., and Australia. As a subsequent event, the Company's quick actions to seize an opportunity led to the acquisition of a 37,500 hectare position covering the historical mines, deposits, and prospects of the Mo-i-Rana polymetallic district in central Norway. In Australia, EMX expanded its property positions in the goldfields of Queensland at the Yarrol and Mt Steadman projects to cover historical mining operations and drill defined gold deposits. EMX's new royalty generation properties provide fresh opportunities to an industry eager for quality projects during a rising bull market in commodities.

Yet success in exploration, development, and mining is a long game, and prudently building a royalty portfolio is a process that takes time. But EMX is in a position to ultimately realize the returns from more than 17 years of staying power. The Timok royalty property, which is on schedule to commence initial production mid-2021, and the Balya royalty property, which is advancing to production later this year, are examples of long held royalty assets that are poised to pay off for the Company. Meanwhile Leeville continues to pay a royalty 'dividend' to EMX as Nevada Gold Mines invests in and advances the property's exploration and development potential.

EMX's Q1-2021 progress and achievements are a testament to the hard work and perseverance of our first class team of professionals. We are optimistic of our opportunities in 2021, and enthusiastic to earn our way to success over the course of the year.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on the United States, Canada, South America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Serbia, Fennoscandia, Turkey, and Australia.

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/84396

Phoenix, Arizona–(Newsfile Corp. – May 18, 2021) – The Stock Day Podcast welcomed Lomiko Metals Inc. (OTCQB: LMRMF) ("the Company"), a company that has discovered high-grade graphite at its La Loutre Property in Quebec and is now working towards a Pre-Economic Assessment. CEO of the Company, A. Paul Gill, joined Stock Day host Everett Jolly.

Jolly began the interview by asking about the Company's background and current projects. Gill elaborated on his experience in the battery metals space, including a successful copper project. "In 2009, we introduced Lomiko as a company focused on the green economy," shared Gill. "Our goal was to explore for lithium and graphite. Now we are at the point where we are developing a graphite mine and have also optioned a lithium property."

"Could you provide an update on the La Loutre project?", asked Jolly. "We have been exploring that since 2016 and have drilled over 150 drill holes in an effort to define an economic deposit," said Gill. "2020 was a tough year with COVID, but we did end up getting funding towards the end of the year," he continued, adding that the Company has had metallurgic testing completed on the site. "Now we're marching towards a preliminary economic assessment (PEA), which is an important document for mining companies because it tells us what the potential valuation of the company is at that time," said Gill. "That will de-risk the project and give us a clear runway towards production."

"Why is graphite so important right now?", asked Jolly. "It is vitally important because this is a material that goes into electric vehicle batteries," explained Gill. "The cathodes of Lithium-ion batteries are made out of lithium, cobalt, and nickel, but what is not known is that the entire anode of the battery is actually graphite," said Gill. "Demand is up and when demand is up prices will follow as well."

"Is that one of the reasons behind the Bourier Lithium project?", asked Jolly. "We want to have both sides of that battery under potential development," said Gill, adding that the early-stage project may also include nickel targets. "The most exciting thing is that it is a volcanic massive sulfide (VMS) system which is over fifteen miles long."

"The Bourier project is located in the James Bay region of Quebec," continued Gill. "It happens to be a very prospective area in which we call the Lithium Triangle North, so there are a number of projects that already have feasibility studies on them," he shared. "It's a really exciting area to be in."

Jolly then asked about the Company's technology company, Promethieus. "Promethieus ecompasses several prospective technology developments ," said Gill. "Lomiko will retain a 20% ownership of Promethieus which will add value to Lomiko's bottom line," he added. "Prometheus will become a technology incubator and be able to fund technology companies and watch them grow to IPO and get a return on investment."

"How does your company's balance sheet look going forward?", asked Jolly. "We just put out our second quarter results," said Gill. "We have $3.5 million Canadian in the till right now. If we see warrant exercises, we could see another $5 million coming in over the next year," he shared. "We're really happy with the situation. We've done well, and part of that will pay for our Pre-Economic Assessment (PEA)."

To close the interview, Gill encouraged listeners and shareholders to consider the potential of the electric vehicle (EV) market as it continues to revolutionize the transportation and technology industries. "It is an opportunity happening now. We want people to watch what we are doing and participate if they can," closed Gill.

To hear A. Paul Gill's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7868799-lomiko-metals-inc-discusses-progress-of-la-loutre-graphite-project-and-bourier-lithium-project-w.

Investors Hangout is a proud sponsor of "Stock Day," and Stock Day Media encourages listeners to visit the company's message board at https://investorshangout.com/.

About Lomiko Metals Inc.

Lomiko Metals Inc. discovered high-grade graphite at its La Loutre Property in Quebec and is now working towards a Pre-Economic Assessment that will increase its current indicated resource of 4.1 Mt of 6.5% Cg.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.

On Behalf of the Board,

"A. Paul Gill"
Chief Executive Officer

We seek safe harbor. 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005334/en/

Contacts
Lomiko Metals
A. Paul Gill, 604-729-5312
Email: info@lomiko.com

About The "Stock Day" Podcast

Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America.

SOURCE:
Stock Day Media
(602) 821-1102

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84419

VANCOUVER, BC / ACCESSWIRE / May 18, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX | OTCQB:GCXXF) ("Granite Creek" or the "Company") announces that it has contracted Sedgman and Mining Plus, global leaders in mineral process engineering and mine engineering , to complete optimizing trade-off studies with respect to potential resource development and mineral processing opportunities at the Company's Carmacks project. These studies will provide the basis for a substantially revised economic assessment based on an updated NI 43-101 mineral resource estimate anticipated following completion of the 10,000-meter drill program currently underway.

Initial discussions among technical representatives from Sedgman, Mining Plus and Granite Creek identified several potential value adding opportunities which will be examined with the aim of extending the project fundamentals beyond those defined in the 2017 Preliminary Economic Assessment ("PEA") on the Carmacks deposits. These avenues are to be explored concurrently with the Company's resource expansion activities such that a resource update and the proposed trade-off studies can potentially be integrated into a revised PEA, providing a basis for more robust project fundamentals.

The Sedgman and Mining Plus scope of work will focus primarily on the Oxide and Sulphide Zones within the Carmacks deposit Zone 1, as well as the adjacent Zones 4 and 7. The aim of this analysis is to uncover strategies to maximize value and optimize schedule, within the framework of a mineral deposit consisting of two distinctly separate ore types – each requiring its own mineral processing treatment. The comprehensive study work will commence with the re-baselining of the mine execution sequence and the development of a suitable ore sorting strategy which can be integrated into the adjacent value options and mining approaches.

Once the oxide mining plan has been completed, an examination of leaching options can be started, whilst the sulphide mining plan is in development. The twin mine plans will then integrate with the other study options relating to trucking cost assessments and capital cost developments, culminating in a final report of compiled trade-off studies.

The work has been scheduled to commence immediately and is expected to be completed over a period of approximately 8 weeks. The schedule for delivery has been compressed and timed such that scope outcomes can inform Granite Creek Copper's planning process for the potential execution of a second phase of exploration diamond drilling work in the late summer/early fall 2021.

Methodology

As part of the work, Sedgman and Mining Plus will conduct a review of potential mining scenarios including but not limited to various bulk tonnage caving scenarios, open pit ("OP"), underground ("UG), or a hybrid OP/UG scenario. The focus would be on recovering the entire oxide and sulphide mineral resource.

Metallurgy

The aim of the metallurgy scope will be to compile a sequence of smaller studies into an optimizing overall trade-off study report. It is expected that a final capital cost estimate and operating cost estimate will be developed, including the outcomes of the smaller studies, providing a re-baselined mining strategy with additional processing improvements.

Evaluation of Ore Sorting

Application of either bulk or particle ore sorting technologies could be a viable option for reducing haulage costs, upgrading metal grades as either feed into off site facilities (under a tolling agreement) or as feed into a fit-for-purpose concentrator located on the Carmacks lease.

Alternative leaching technologies review

The Carmacks and North Carmacks resources both contain varying degrees of oxide and sulphide mineralization and as such different technological approaches are employed to treat them, including:

• Sulphide ore flotation

• Sulphidized oxide ore flotation

• Acid leaching (sulphuric or hydrochloric)

• Glycine leaching

• Ammoniacal leaching

The intent of this trade-off examination would be to assess each technology, ranking its suitability to the Carmacks ores and aiming to define further metallurgical testwork that would be required to validate any options that have not been considered at this stage of the project's development.

Granite Creek President & CEO, Tim Johnson, commented, " A comprehensive review of the mining and processing plans as outlined in the 2017 PEA¹ has tremendous potential to yield significant improvements to the mine plan. Choosing the optimal development path for the copper oxide portion of the deposit coupled with a pathway to bring the sulfide portion into a mine plan will add considerable value to the project. With copper prices in a rising environment, it is the right time to accelerate the development of the Carmacks deposit. The results of these studies will chart the development of the project and assist in defining the next economic study to be competed."

About Sedgman

Sedgman is a global, diversified engineering, construction and project management company providing consulting, project delivery and contract operations services to the mining sectors. As a wholly owned company as part of the Cimic group of companies, Sedgman partner with our clients to ensure tailored, world-class outcomes that stand apart for reliability, efficiency, productivity and performance – optimising client investments, maximising resource recovery and lowering unit costs. Sedgman has significant experience in the study and execution of projects similar to Carmacks Copper Project.

About Mining Plus

Mining Plus are a global industry-leading mining technical services provider, consisting of professionals specializing in geology, mining engineering (Surface & Underground), geotechnical engineering, operational management and asset optimization. As part of the Byrnecut Group, Mining Plus leverages their track record of delivering innovative and practical project solutions with operability front of mind. The Mining Plus Canada team has a demonstrated capability to advance the Carmacks project from concept to production, in partnership with Sedgman.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks and Carmacks North project in the Minto copper district of Canada's Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper 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 the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Granite Creek Copper Ltd.

View source version on accesswire.com:
https://www.accesswire.com/647915/Granite-Creek-Copper-Engages-Sedgman-to-Conduct-Mine-Planning-Mineral-Processing-Review-on-the-Carmacks-Copper-Gold-Silver-Project-in-Yukon-Canada

Lucapa Diamond Company Limited (ASX:LOM) has not performed well recently and CEO Stephen Wetherall will probably need to up their game. Shareholders can take the chance to hold the board and management accountable for the unsatisfactory performance at the next AGM on 25 May 2021. It would also be an opportunity for shareholders to influence management through voting on company resolutions such as executive remuneration, which could impact the firm significantly. We present the case why we think CEO compensation is out of sync with company performance.

Check out our latest analysis for Lucapa Diamond

Comparing Lucapa Diamond Company Limited's CEO Compensation With the industry

Our data indicates that Lucapa Diamond Company Limited has a market capitalization of AU$47m, and total annual CEO compensation was reported as US$318k for the year to December 2020. Notably, that's a decrease of 30% over the year before. We note that the salary portion, which stands at US$304.1k constitutes the majority of total compensation received by the CEO.

For comparison, other companies in the industry with market capitalizations below AU$258m, reported a median total CEO compensation of US$237k. Accordingly, our analysis reveals that Lucapa Diamond Company Limited pays Stephen Wetherall north of the industry median. Moreover, Stephen Wetherall also holds AU$309k worth of Lucapa Diamond stock directly under their own name.

Speaking on an industry level, nearly 69% of total compensation represents salary, while the remainder of 31% is other remuneration. Lucapa Diamond has gone down a largely traditional route, paying Stephen Wetherall a high salary, giving it preference over non-salary benefits. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance.

Lucapa Diamond Company Limited's Growth

Over the last three years, Lucapa Diamond Company Limited has shrunk its earnings per share by 21% per year. It saw its revenue drop 70% over the last year.

Few shareholders would be pleased to read that EPS have declined. And the fact that revenue is down year on year arguably paints an ugly picture. It's hard to argue the company is firing on all cylinders, so shareholders might be averse to high CEO remuneration. 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 Lucapa Diamond Company Limited Been A Good Investment?

The return of -80% over three years would not have pleased Lucapa Diamond Company Limited shareholders. Therefore, it might be upsetting for shareholders if the CEO were paid generously.

To Conclude…

Lucapa Diamond pays its CEO a majority of compensation through a salary. Along with the business performing poorly, shareholders have suffered with poor share price returns on their investments, suggesting that there's little to no chance of them being in favor of a CEO pay raise. At the upcoming AGM, the board will get the chance to explain the steps it plans to take to improve business performance.

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. In our study, we found 6 warning signs for Lucapa Diamond you should be aware of, and 3 of them are a bit concerning.

Arguably, business quality is much more important than CEO compensation levels. So check out this free list of interesting companies that have HIGH return on equity 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.

The board of directors of Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, has declared a quarterly cash dividend of $0.72 per share. This dividend is payable June 18, 2021, to shareholders of record as of the close of business on June 10, 2021.

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. Its salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial and agricultural applications. Its plant nutrition business manufactures an innovative and diverse portfolio of products that improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, its specialty chemical business serves the water treatment industry and other industrial processes. The company operates 21 production and packaging facilities with more than 3,000 personnel throughout the U.S., Canada, Brazil and the U.K. Visit compassminerals.com for more information about the company and its products.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210518006196/en/

Contacts

Investor Contact Douglas KrisSenior Director of Investor Relations+1.917.797.4967krisd@compassminerals.com Media Contact Rick AxthelmSVP and Chief Public Affairs Officer+1.913.344.9198MediaRelations@compassminerals.com

VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce that significant progress has been made in the production of a green, waste free smelter grade alumina product from anorthosite (CaAl₂Si₂O₈) from the White Mountain mine in Greenland. Hudson has a 31.1% equity interest in the White Mountain mine and rights to acquire 100%.

Hudson engaged Kingston Process Metallurgy Inc. (KPM) in Kingston, Ontario, Canada, to produce four kilograms of smelter grade alumina (Al₂O₃) made from the White Mountain anorthosite. The smelter grade alumina produced will be sent to several major aluminum producers who have requested the product for evaluation. The KPM program is expected to be completed in approximately one month. Additional alumina testwork is also being conducted by a group in Europe.

Hudson has undertaken a significant amount of work over the past eight years investigating the production of specialty grade alumina and smelter grade alumina from anorthosite. In March 2015, Hudson announced the results of a robust Preliminary Economic Assessment (refer NR2015-01). KPM is utilizing a flowsheet developed by Hudson which uses known and proven technologies to extract +90% of the aluminum from the anorthosite. The process produces a smelter grade alumina designed to meet the specifications of the major aluminum smelters. The Hudson process is scalable and only produces saleable byproducts and zero waste and is therefore green which aligns to Hudson’s operating philosophy. The Bayer process, which is used extensively in aluminum production, uses a feedstock of bauxite ore and a process which requires the use of high temperature caustic soda solution. As a consequence, the Bayer process produces almost four tonnes of toxic waste, known as “red mud”, for every tonne of aluminum produced. The disposal and environmental issues created by the Bayer process is of huge concern to aluminum producers as well as the environmental community due to amount of toxic waste produced.

Jim Cambon, President commented: “I am pleased to announce our production of green smelter grade alumina is progressing well with significant interest from aluminum producers and end users who are demanding a greener aluminum. We believe our process of producing waste-free alumina from anorthosite will be a key component in the development of green aluminum. By eliminating all caustic red mud tailings our process removes one of the most polluting aspects of aluminum production. Our timing is perfect to bring to the market a green, zero-waste aluminum product and we continue discussions with potential partners to bring this to commercialization.”

Hudson also owns 100% of the Sarfartoq REE project and Nukittooq niobium-tantalum project in Greenland. The Sarfartoq project has a 43-101 resource outlining 35M kilograms of neodymium oxide and praseodymium oxide, the two key components in permanent magnets driving the green revolution. The Nukittooq project has some of the highest reported niobium assays in the industry (see NR2020-15).

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim Cambon”

President and Director

For further information:
Ph: 604-628-5002

Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

How far off is IBC Advanced Alloys Corp. (CVE:IB) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by estimating the company's future cash flows and discounting them to their present value. We will use the Discounted Cash Flow (DCF) model on this occasion. There's really not all that much to it, even though it might appear quite complex.

We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

Check out our latest analysis for IBC Advanced Alloys

The method

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$5.0m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (1.5%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.6%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = US$935k× (1 + 1.5%) ÷ (8.6%– 1.5%) = US$14m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$14m÷ ( 1 + 8.6%)¹⁰= US$5.9m

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$11m. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of CA$0.2, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

The assumptions

The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at IBC Advanced Alloys as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.6%, which is based on a levered beta of 1.488. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Next Steps:

Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For IBC Advanced Alloys, there are three pertinent aspects you should further research:

1. Risks: To that end, you should be aware of the 2 warning signs we've spotted with IBC Advanced Alloys .

2. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

3. Other Environmentally-Friendly Companies: Concerned about the environment and think consumers will buy eco-friendly products more and more? Browse through our interactive list of companies that are thinking about a greener future to discover some stocks you may not have thought of!

PS. Simply Wall St updates its DCF calculation for every Canadian stock every day, so if you want to find the intrinsic value of any other stock just search here.

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.

Just because a business does not make any money, does not mean that the stock will go down. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So, the natural question for Blue Sky Uranium (CVE:BSK) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Blue Sky Uranium

How Long Is Blue Sky Uranium's Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at March 2021, Blue Sky Uranium had cash of CA$2.4m and no debt. In the last year, its cash burn was CA$2.7m. Therefore, from March 2021 it had roughly 10 months of cash runway. That's quite a short cash runway, indicating the company must either reduce its annual cash burn or replenish its cash. Depicted below, you can see how its cash holdings have changed over time.

How Is Blue Sky Uranium's Cash Burn Changing Over Time?

Because Blue Sky Uranium isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Over the last year its cash burn actually increased by 17%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Blue Sky Uranium due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Blue Sky Uranium To Raise More Cash For Growth?

Given its cash burn trajectory, Blue Sky Uranium shareholders should already be thinking about how easy it might be for it to raise further cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Blue Sky Uranium's cash burn of CA$2.7m is about 7.4% of its CA$36m market capitalisation. 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.

How Risky Is Blue Sky Uranium's Cash Burn Situation?

On this analysis of Blue Sky Uranium's cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Even though we don't think it has a problem with its cash burn, the analysis we've done in this article does suggest that shareholders should give some careful thought to the potential cost of raising more money in the future. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Blue Sky Uranium (of which 2 are significant!) you should know about.

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

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

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

Results Pending from Two Other Prospects; Drilling Program Continues

Figure 1

Drilling locations and significant results from recent drilling.

Figure 2

Property map showing the location of prospects mentioned in this release.

TORONTO, May 18, 2021 (GLOBE NEWSWIRE) — Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) reports the results of the latest drilling at the Massala West, Massala Main, Orange Grove, Assama and Sodala prospects, located on the Company’s Sikasso Property in Southern Mali (Figure 2).

Highlights

• Wide-spaced drilling at Massala West confirms gold mineralization along a new 1.6 km section of the Tarabala Fault

  • Highest-grade drill interval was 2 m @ 13.06 g/t Au (from 16 m; SAAC204)

  • Widest mineralized zone was 21 m @ 0.86 g/t Au (from 1 m; SAAC189)

• Preparations are underway for an additional 1,600 m of air core drilling over a distance of 1.4 km to the north of the new zone, and 1,200 m of infill drilling on the recently discovered mineralization

• 1,400 m of air core (AC) drilling is also planned at the new Tarabala South target

• Drilling at Sodala intercepted intermittent shallow gold mineralization, associated with a north-south trending shear zone and strong shallow gold in soil anomalies

  • Highest-grade drill interval: 1 m @ 4.57 g/t Au (from 21 m).

• Drilling at the Massala Main, Orange Grove, and Assama artisanal workings did not intercept significant mineralization

• Results are pending from the Dialéké and Old Sam prospects

Compass CEO, Larry Phillips, said, “These latest results of our systematic ongoing evaluation of our extensive ground package have revealed yet another promising large, shallow gold target. Drilling at our Massala West prospect has confirmed the continuation of gold mineralization over a distance of 4.2 km, and the structure remains open at either end. We are preparing drill pads to test the strike extension of the structure, and to test the continuity with infill drilling on the best mineralized zones. This 82-hole drilling program should be completed, and the results returned, before the rainy season is heaviest in July.”

He added, “Drilling at the nearby Sodala prospect has also confirmed the presence of gold and we will conduct follow-up work later looking for wider, higher grade zones of mineralization there as well. Meanwhile, in addition to the follow-up drilling at Massala West, we are eagerly awaiting the assay results from 70-holes drilled on two promising new targets on the Kourou and Faraba-Coura permits.”

Massala West Drilling Results

Following up on the previously reported results from Massala West (see Compass news release dated March 16, 2021), Compass has completed thirty-two (32) additional shallow air core (AC) holes (1,914 m) at this prospect (Figure 1) to test for the presence of gold mineralization associated with the Tarabala fault over a distance of 1.8 km. This drilling included nine fences spaced at 200 m intervals, with significant gold intercepts present on six of the fences. The widest mineralized interval was encountered in SAAC189, with 21 m @ 0.86 g/t Au (from 1 m) including 6 m @ 1.67 g/t Au (from 1 m), 4 m @ 1.14 g/t Au (from 10 m) and 4 m @ 0.74 g/t Au (from 18 m). This hole was located 225 m south of the discovery hole SAAC123, which contained 24 m @ 2.35 g/t Au. The highest-grade interval was located in SAAC204, 1.3 km to the south of the discovery hole (SAAC123), and contained 2 m @ 13.06 g/t Au (from 16 m). Each four-hole fence contained at least one mineralized hole that comprised several mineralized intervals. The intervals varied from 1 to 6 m, with individual intervals varying from 0.20 to 22.6 g/t Au (Table 1).

Figure 1: Drilling locations and significant results from recent drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/416a4254-2bb5-4aa6-837d-7e272ae778e8

Based on the highly encouraging initial AC drilling results at Massala West, Compass will drill 22 more holes in several 200 m spaced fences, over a distance of 1.6 km to the north along the target structure to test its strike potential. An additional 22-holes (1,100 m) will be drilled as infill around the holes reported in this release.

Table 1. Mineralized intervals greater than 3 m or greater than 0.5 g/t Au identified during recent drilling at Massala West

¹True thicknesses are interpreted as 60-90% of stated intervals.
² Intervals use a 0.2-gram-per-tonne gold cut-off value

Next Steps

Based on the positive AC drilling results at Massala West, and interpretation of recent Gradient Induced Polarization (IP) geophysics, a total of 82 AC holes (totalling 4,100 m) are planned for the Tarabala Trend (Figure 2). These include 54 holes (2,700 m) on the Tarabala fault at Massala West, and 28 holes (1,400 m) at a new target located immediately south of the Tarabala prospect (Figure 2). Drilling pad preparation is underway, and it is anticipated that drilling will be completed prior to the heaviest part of the rainy season.

In addition to the AC drilling, sites have also been selected for deeper reverse circulation (RC) drilling at Tarabala (2,500 m), and tentatively selected at Massala West (2,500 m). Several diamond core holes (500 m) are also proposed at Tarabala and Massala West. The purpose of this drilling will be to test the down dip extension and continuity of mineralization to depths up to 120 m from surface. Preparation of the drilling pads will take place in June, and will allow drilling during the rainy season.

Assay results are pending from 1,412 m of AC drilling at the Dialéké prospect (Faraba-Coura permit), and 889 m of drilling at the Old Sam prospect (Kourou permit). Ongoing in-fill shallow soil sampling and ground geophysics are continuing on other parts of the Sikasso property, and Compass’s technical team is continually appraising and identifying new targets.

Figure 2: Property map showing the location of prospects mentioned in this release.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5b8efa25-6d21-4567-81d6-b1ae22b20d60

Additional results:

Massala Main and Orange Grove Drilling Results

Ten shallow AC holes (1,084 m) were drilled at Massala Main (Figure 1) to test a small area of north-south trending artisanal gold workings. Only one hole (SAAC173) intercepted gold mineralization, 3 m @ 0.92 g/t Au (from 24 m), including 1 m @ 2.01 g/t Au (from 24). The mineralization occurs on the interpreted Massala fault, and correlates with a mineralized zone (3 m @ 1.90 g/t Au) previously identified by drilling 1.5 km to the south at the Massala East prospect. No additional work is planned at the Massala Main prospect.

A total of 8 holes (480 m) were drilled on two 200-m spaced fences at the Orange Grove prospect. The prospect is 3.6 km south of the Massala Main prospect on the Massala fault, and is located 1 km east of the Tarabala fault (Figure 1). The target was chosen based on interpretation of ground geophysics and the presence of a shallow soil sample containing 5 g/t Au. Only one hole (SAAC212) intercepted mineralization (1 m @ 0.46 g/t Au). Additional drilling might be required in the future to identify the source of gold indicated from the anomalous soil sample.

Assama Drilling Results

Twenty-four shallow air core (AC) holes (1,236 m) were drilled at Assama (Figure 2) to test a 250 m by 120 m area of surface gold excavations at the southernmost part of the Tarabala Trend. A 13-hole fence was drilled over the artisanal workings and a second 11-hole fence 200 m to the north. These holes were also designed to target two of six NNE-trending faults, understood to be part of the Tarabala shear zone as interpreted from Gradient IP geophysics. Drilling identified the quartz veining associated with the projected fault structures, with only trace amounts of gold mineralization (<0.22 g/t Au). Select geochemical tests (cyanide leach) are being performed on the drilling samples from the Tarabala Trend to determine the total gold concentration of samples.

Sodala Drilling Results

Twenty shallow AC holes (1,084 m) were drilled at Sodala (Figure 1) to test an area 350 m east of the currently active shallow gold workings. Two 10-hole NW-trending fences were drilled within a 500 m by 500 m area marked by extremely anomalous shallow soil samples (e.g., 31.3, 10.1, 2.5, 1.29 g/t Au). Geological mapping and interpretation of Gradient IP geophysics identified several north- and northeast-trending faults on each fence that were coincident with the soil anomalism.

The drilling results confirmed that the N- and NE-trending faults likely control mineralization as the highest gold intercepts were recorded at the predicted locations. The best intercepts were 1 m @ 4.57 g/t Au (from 21 m, SEAC009) and 1 m @ 1.45 g/t Au (from 17 m, SEAC014), both associated with N-trend faults. Most of the mineralized intervals were less than 2 m and less than 0.5 g/t Au. It is likely that weathering of the narrow, high-grade mineralization is responsible for the exceptionally high-grade shallow soil samples documented from the area. Follow-up work is recommended on the gold-bearing structures to determine if wider zones of mineralization are present along strike or down dip.

Technical Details

Air core holes from Massala West, Massala Main, Orange Grove, Assama reported here were drilled on an azimuth of 270° (towards the west), at dips of 55°, with the exception of two holes at Massala West, which were drilled at 090° (towards the east). AC holes from Sodala were drilled on an azimuth of 315° (towards the NW). Hole lengths at both prospects varied from 50 to 60 m. The drill fences were designed to test structures interpreted from Gradient IP surveying, and potential mineralized trends identified by Compass’s earlier fieldwork. Drilling was performed by Etasi and Co. Drilling (Mali). All samples were prepared by Compass staff and an appropriate number of standards, duplicates and blanks were submitted and analysed for gold at SGS (Bamako, Mali) by fire assay.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.”

QAQC

All AC samples were collected following industry best practices, and an appropriate number and type of certified reference materials (standards), blanks and duplicates were inserted to ensure an effective QAQC program was carried out. The 1 m interval samples were prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank results were reviewed to ensure no failures were detected.

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

Forward‐Looking Information
This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.

For further information please contact:

Website: www.compassgoldcorp.com

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