Most readers would already be aware that Aurelia Metals' (ASX:AMI) stock increased significantly by 7.7% over the past week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Specifically, we decided to study Aurelia Metals' ROE in this article.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

View our latest analysis for Aurelia Metals

How Is ROE Calculated?

The formula for ROE is:

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

So, based on the above formula, the ROE for Aurelia Metals is:

8.5% = AU$34m ÷ AU$395m (Based on the trailing twelve months to December 2020).

The 'return' is the income the business earned over the last year. So, this means that for every A$1 of its shareholder's investments, the company generates a profit of A$0.09.

What Has ROE Got To Do With Earnings Growth?

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

A Side By Side comparison of Aurelia Metals' Earnings Growth And 8.5% ROE

When you first look at it, Aurelia Metals' ROE doesn't look that attractive. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 15% either. In spite of this, Aurelia Metals was able to grow its net income considerably, at a rate of 33% in the last five years. Therefore, there could be other reasons behind this growth. Such as – high earnings retention or an efficient management in place.

We then performed a comparison between Aurelia Metals' net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 28% in the same period.

Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Aurelia Metals fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is Aurelia Metals Making Efficient Use Of Its Profits?

Aurelia Metals has a three-year median payout ratio of 48% (where it is retaining 52% of its income) which is not too low or not too high. So it seems that Aurelia Metals is reinvesting efficiently in a way that it sees impressive growth in its earnings (discussed above) and pays a dividend that's well covered.

Along with seeing a growth in earnings, Aurelia Metals only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 17% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 17%, over the same period.

Summary

In total, it does look like Aurelia Metals has some positive aspects to its business. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

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.

OTTAWA, May 12, 2021 (GLOBE NEWSWIRE) — Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces that since April 30, 2021, holders of warrants to purchase common shares of the Company at an exercise price of $2.00 per warrant (the “Warrants”) have exercised an aggregate 2,400,000 Warrants, resulting in aggregate proceeds to the Company of C$4,800,000 and the issuance of 2,400,000 common shares. The Warrants were issued in connection with a May 2016 financing of the Company and expire on May 12, 2021. The Company expects 166,576 Warrants will expire unexercised.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 20.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 6.86% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadoran company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

Investor Inquiries

Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact ir@cornerstoneresources.ca, or:

Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333

Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp

Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential”, “anticipate”, “forecast”, “believe”, “estimate”, “intend”, “trends”, “indicate”, “expect”, “may”, “should”, “could”, “will”, “project”, “plan”, or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements’, although not all forward-looking statements contain these words. Examples of forward-looking statements in this news release include, but are not limited to, the Company’s expectation that 166,576 Warrants will expire unexercised. Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.

On Behalf of the Board,
Brooke Macdonald
President and CEO

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

Most readers would already be aware that Zimplats Holdings' (ASX:ZIM) stock increased significantly by 102% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study Zimplats Holdings' ROE in this article.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits.

View our latest analysis for Zimplats Holdings

How To Calculate Return On Equity?

The formula for ROE is:

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

So, based on the above formula, the ROE for Zimplats Holdings is:

29% = US$431m ÷ US$1.5b (Based on the trailing twelve months to December 2020).

The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each A$1 of shareholders' capital it has, the company made A$0.29 in profit.

What Is The Relationship Between ROE And Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Zimplats Holdings' Earnings Growth And 29% ROE

First thing first, we like that Zimplats Holdings has an impressive ROE. Secondly, even when compared to the industry average of 15% the company's ROE is quite impressive. Under the circumstances, Zimplats Holdings' considerable five year net income growth of 67% was to be expected.

Next, on comparing with the industry net income growth, we found that Zimplats Holdings' growth is quite high when compared to the industry average growth of 28% in the same period, which is great to see.

Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Zimplats Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is Zimplats Holdings Efficiently Re-investing Its Profits?

The three-year median payout ratio for Zimplats Holdings is 38%, which is moderately low. The company is retaining the remaining 62%. By the looks of it, the dividend is well covered and Zimplats Holdings is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.

Additionally, Zimplats Holdings has paid dividends over a period of six years which means that the company is pretty serious about sharing its profits with shareholders.

Summary

Overall, we are quite pleased with Zimplats Holdings' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. To know the 2 risks we have identified for Zimplats Holdings visit our risks dashboard for free.

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.

Platinum Group Metals Ltd. (NYSE: PLG) is a mining and technology company focused on the production of platinum, palladium and rhodium and the use of these metals in emerging battery chemistries.

Precious Metals and the Waterberg PGM Project

Platinum group metals (PGMs) include platinum, palladium, rhodium, iridium, osmium and ruthenium. These metals are known for their purity, high melting points and unique catalytic properties.

Palladium is currently trading near an all-time high of $3,000 per ounce and rhodium is trading at $28,000 per ounce.

Since the 1970s, platinum, palladium and rhodium have been used for catalytic converters — an exhaust emission control device that reduces toxic pollutants in exhaust gas from an internal combustion engine into less-toxic pollutants. The bulk of global PGMs are mined in South Africa and Russia.

The Waterberg PGM Project, located in South Africa on the northern limb of the Bushveld Complex, is a large-scale platinum group metal resource with an attractive risk profile given its shallow nature. The project facilitates fully mechanised production with the potential to have among the lowest operating costs in the PGM sector. The Project was granted a license to mine in early 2021.

Old Car, New Car and Transitioning to Clean Energy

As the electric car market evolves, Platinum Group Metals has plans to enter this market.

In 2019, PLG and Anglo American Platinum launched a new venture, Lion Battery Technologies Inc., to accelerate the development of next-generation battery technology using platinum and palladium. The possibility of creating additional demand for platinum and palladium in the battery technology space is an exciting development and strategically important to both parties.

Lion Battery has entered into an agreement with Florida International University to further advance a research program that uses platinum and palladium to unlock the potential of lithium air and lithium sulfur battery chemistries to increase their discharge capacities and cyclability.

Under the agreement with Florida International University, Lion Battery will have exclusive rights to all intellectual property and will lead all commercialization efforts. Lion is also currently reviewing several additional and complementary opportunities focused on developing next-generation battery technology using platinum and palladium.

“These rare metals have a role in green transportation because they’re a special catalyst. They make more efficient reactions happen,” stated CEO Michael Jones during the Benzinga Small Cap Cleantech Conference in April.

Jones added, “The whole idea of pivoting our way of using energy and going into things like battery electric vehicles is to create a new demand on metals, which, quite frankly, the underlying metals aren’t prepared for. That’s why we’re seeing palladium at $2,800 per ounce and copper at over $4, for example.”

“If we’re going to make this energy transition, we need a lot more of the stuff [platinum and palladium] that’s going to go into these technologies. Investors are so concerned with the technologies but it’s a great opportunity to go one step down and really think about the fundamental materials that are going to feed into clean energy tech,” Jones concluded.

Platinum Group Metals is currently in the early stages of testing the application of these same metals in vehicle batteries. More on this soon to come.

Visit https://www.platinumgroupmetals.net/home/default.aspx for more information.

Platinum Group Metals is a partner of Benzinga. The information in this article does not represent the investment advice of Benzinga or its writers.

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VANCOUVER, BC, May 12, 2021 /CNW/ – Trading resumes in:

Company: American Lithium Corp.

TSX-Venture Symbol: LI

All Issues: Yes

Resumption (ET): 9:30 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/May2021/12/c7853.html

Vancouver, British Columbia–(Newsfile Corp. – May 12, 2021) – Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or "the Company") announces production results for the fourth fiscal quarter ended April 30, 2021, at its San Martin Mine ("San Martin") in Queretaro, Mexico.

"We are focused on two areas for exploration and development at the San Martin gold mine," reported Salvador Garcia, Chief Operating Officer of the Company. "The first is located in the northwest, at the bottom of the mine, where we have drilled 8 positive holes and as a result, we are currently ready to start production. The second area of exploration is located to the east of current operations where we have drilled 4 positive holes. Although excess water has delayed the development of this area, our team is working steadily to address this issue and we expect to resume development in the next two months."

The diamond drill hole exploration continues in both zones where the potential to find additional mineralization is open and there are possibilities of expanding the life of the mine. Of particular note is the eastern zone, where we will further explore the area identified by historical drilling from the surface, located 600 meters from other recent positives holes that were drilled.

"Starcore continues with the philosophy of producing profitable ounces and generating positive cash flow through its operational excellence programs. The impact of these programs has been reflected in the cost savings and productivity reached over the past year".

Salvador Garcia, B. Eng., a director of the Company and Chief Operating Officer, is the Company's qualified person on the project as required under NI 43-101 and has prepared the technical information contained in this press release.

About Starcore

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.

ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.

Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

EVAN EADIE
Investor Relations
Telephone: (604) 602-4935 x 203
Toll Free: 1-866-602-4935
Email: eeadie@starcore.com

The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83669

Steve Cates Appointed as Chief Accounting Officer and Controller

Westwater Resources, Inc. (NYSE American: WWR), an energy materials company and developer of U.S. mineral resources essential for batteries for energy storage, today announced the appointment of Steven M. Cates as Chief Accounting Officer & Controller ("CAO"), effective May 10, 2021. As the Company’s CAO, Mr. Cates will serve as the principal accounting officer overseeing all accounting operations, financial reporting, tax and treasury functions. Mr. Cates will report to Chief Financial Officer Jeffrey L. Vigil, who will continue to serve as the Company’s principal financial officer.

Christopher M. Jones, President and Chief Executive Officer, said, "As we manage the execution of our graphite business plan and in anticipation of the coming growth of the Company and its business, it is important that we ask strong leaders to join our team with the expertise necessary to support this growth. Steve has answered our call with excellent financial management expertise and his appointment to a senior leadership position strengthens Westwater’s financial management team."

Jeffrey L. Vigil, Vice President-Finance and Chief Financial Officer, said, "After a comprehensive search process that yielded many highly qualified candidates, we are very pleased to have Steve join the Westwater team. Steve is a proven financial manager whose skills and experience will be instrumental in this stage of anticipated growth and value creation at Westwater."

Mr. Cates joins the Company from Apartment Income REIT Corp. (NYSE: AIRC), a real estate investment trust, where he served as Controller. Prior to his time at AIRC, Mr. Cates held various accounting and financial reporting roles at companies including Caliber Midstream Partners, LP, an energy and oil infrastructure company, American Midstream Partners, Newmont Mining Corporation and Thompson Creek Metals Company, Inc. Mr. Cates began his accounting career at KPMG in 2002, where he served as senior manager for audit and advisory services through 2009. Mr. Cates earned a B.S. in Accounting from the University of Redlands and is a Certified Public Accountant in the State of Colorado.

About Westwater Resources

Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the potential growth of the Company’s graphite business, commencement of operations at the Company’s proposed pilot plant facilities, future production of battery graphite products, future financing activities and financial resources, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a pilot plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) operating conditions at the Company’s projects; (f) government regulation of the graphite industry and the vanadium industry; (g) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (h) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) currently pending or new litigation or arbitration; and (k) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210512006033/en/

Contacts

Westwater Resources

Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

Vancouver, British Columbia–(Newsfile Corp. – May 12, 2021) – IMPACT Silver Corp. (TSXV: IPT) ("IMPACT" or the "Company") is pleased to announce that it has received the report prepared by Condor Consulting, Inc. (Condor) on analysis and interpretation of the geophysical surveys carried out in the 1990's over the Capire area of the Royal Mines of Zacualpan Project. The data analyzed included Induced Polarization (IP), airborne Magnetometer, ground and airborne EM, and Airborne radiometric.

Condor utilized leading edge Inversion processing to produce 3D models of the IP and Magnetometer surveys and combined with the EM surveys has outlined a series of massive sulphide and vein hosted target areas. The data provided by Condor is being incorporated into IMPACT's GIS database and 3D modelling software packages to prioritize new target areas for further exploration. Many of the highest priority targeted areas are located in the same stratigraphy and fall within four kilometers of the Capire open pit mine and so could enhance the economics of the Capire Project (see below). Follow up field work will commence this summer to determine the source of the geophysical targets.

ABOUT IMPACT SILVER

IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on adjacent districts within its 100% owned mineral concessions covering 211km2 in central Mexico with excellent infrastructure and labor force. Over the past 15 years, IMPACT has produced over 10.3 million ounces of silver, generating revenues over $212 million, with no long-term debt. At the Royal Mines of Zacualpan Silver District, three underground silver mines and one open pit mine feed the central Guadalupe processing plant. To the south, in the Mamatla District, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with a mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016 for details); Company engineers are reviewing Capire for potential restart of operations in light of current elevated silver prices. With 15 years of exploration successes leading to production cash flows, IMPACT has shown the Zacualpan Silver-Gold District to be endowed with many high-grade silver-gold zones and has place multiple zones into commercial production.

Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver

Qualified Person and NI 43-101 Disclosure

Wojtek Jakubowski, P.Geo. is a "qualified person" within the meaning of NI 43-101 and has reviewed, verified and approved the technical information disclosure contained in this press release.

On behalf of IMPACT Silver Corp.

"Frederick W. Davidson"
President & CEO

For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 681 0172 or inquiries@impactsilver.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.

Forward-Looking and Cautionary Statements

This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationship with vendors and strategic partners, government regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement, except as required by law.

The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.

705-543 Granville Street Telephone 604 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
Twitter
LinkedIn

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83805

Vancouver, British Columbia–(Newsfile Corp. – May 11, 2021) – MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report new assay results increasing the area of the CONEJO Zone by 500% at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figure 2).

The latest set of assays expands the CONEJO copper-silver zone to an area covering 3.2-km by 1.6-km. The CONEJO zone still remains open in all directions, lying along the mid portion of the 80-kilometre-long CESAR North copper-silver belt. CONEJO assay results include:

• Highlights of 3.0% copper and 22.6 g/t silver over intervals of 1.0-metre by 1.0-metre rock panels;

• Ten rock panel samples returned values above 1.0% copper;

• The CONEJO discovery returned values above 5.0% copper from twenty-three rock panels varying from 5.0-metre by 5.0-metre to 1.0-metre by 1.0-metre;

• Sixty-six panel samples returned values over 1.0% copper (refer to Figure 3 and Table 1).

The CONEJO mineralization occurs both as a stockwork of cross cutting fractures and as disseminated mineralization hosted in igneous rock. Observed minerals include: chalcocite, native copper, cuprite and copper oxides. Epidote is commonly associated with the copper mineralization (refer to Figure 1).

"Newly discovered in March of this year, and although early stage, CONEJO appears to have scalable potential. Systematic mapping is now underway to determine both the density and orientation of the mineralized structures," commented Max CEO, Brett Matich.

"Over the last 18 months, Max has significantly extended CESAR North, consisting of five discoveries spanning over 80-km of strike, demonstrating a district-scale sediment-hosted copper-silver system," he continued.

"In addition, the Max team are eagerly awaiting assay results from another new discovery, the URU zone located 30-km south, which seems to be very similar mineralization to CONEJO," he concluded.

Figure 1. The CONEJO copper-silver mineralization.
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure1.jpg

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3834/83549_a84f3cfe3469fa71_002full.jpg

Figure 2. CONEJO zone location.
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure2.jpg

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3834/83549_a84f3cfe3469fa71_003full.jpg

Figure 3. CONEJO sample locations and geochemistry.
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure3.jpg

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3834/83549_a84f3cfe3469fa71_004full.jpg

Table 1. CONEJO assay results. Max cautions investors that rock panel and representative sampling can both be selective and are not necessarily representative of the mineralization.

Max interprets the sediment-hosted stratabound copper-silver mineralization of the Cesar Basin to be analogous to the Kupferschiefer Basin in Poland. The Kupferschiefer deposits, Europe's largest copper source, produced 3MT of copper in 2018 and 40 million ounces of silver in 2019 from an orebody 0.5 to 5.5-metres thick, grading 1.49% copper and 48.6 g/t silver. This silver yield is almost twice the production of the world's second largest silver mine.

Source: World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper-silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at CESAR.

CESAR COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW

The CESAR project, that covers a significant portion of the 200-km long Cesar Basin in North Eastern Colombia, has now been demonstrated to contain widespread highly prospective copper-silver mineralization.

This region enjoys major infrastructure as a result of oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, Xstrata and Anglo American (refer to Figure 2).

Due to the district-scale copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín (January 7, 2021 NR);

Geochemical and Mineralogical: geochemical and mineralogy research programs by the University of Science and Technology ("AGH") of Krakow, Poland. AGH bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;

Geophysics: Fathom Geophysics is interpreting regional airborne magnetic and radiometric data, funded by the Company in collaboration with one of the world's leading copper producers;

Proprietary Field Exploration & Techniques: Max's exploration teams continue to explore copper-silver stratabound targets at CESAR;

• CESAR North 80-kilomtre-long-copper-silver belt (refer to Figure 2):

  • In 2020, Max identified the AMS (previously named AM South) and AMN (previously named AM North) stratabound copper-silver zones, collectively spanning over 45-km², with highlight values of 0.1 to 34.4% copper and 5.0 to 305.0 g/t silver over intervals ranging 0.1 to 25.0-metres;

  • In March 2021, Max reported the CONEJO discovery, now spanning an area of 3.2-km by 1.6-km and open in all directions. CONEJO returned values above 5.0% copper from 23 rock panels varying from 5.0m by 5.0m to 1.0m by 1.0m, 66 rock panel samples returned values over 1.0% copper (March 24, 2021 NR). Highlight assays above 9% copper and 50 g/t silver:

    • 12.5% copper + 84 g/t silver over 5.0-metre by 5.0-metre

    • 10.5% copper + 50 g/t silver over 3.0-metre by 2.0-metre

    • 10.4% copper + 95 g/t silver over 5.0-metre by 5.0-metre

    • 10.2% copper + 62 g/t silver over 5.0-metre by 5.0-metre

    • 10.0% copper + 80 g/t silver over 5.0-metre by 5.0-metre

    • 8.7% copper + 89 g/t silver over 5.0-metre by 5.0-metre

    • 8.4% copper + 60 g/t silver over 5.0-metre by 5.0-metre

    • 7.9% copper + 21 g/t silver over 5.0-metre by 5.0-metre

    • 7.7% copper + 84 g/t silver over 5.0-metre by 5.0-metre

    • 7.4% copper + 47 g/t silver over 5.0-metre by 5.0-metre

  • Early April 2021, Max identified the URU zone, located 30-km south of the CONEJO zone. Sampling indicated the presence of copper mineralization extending over 3.7-km, and open in all directions. Rock samples were sent to ALS for analysis, with results expected in May;

  • Late April 2021, Max identified the SP target, which lies along the mid portion of the CESAR North 80-km belt in line with the four previous copper discoveries URU, CONEJO, AMN and AMS. Rock samples were sent to ALS for analysis, with results expected in June;

  • Exploration continues on CONEJO, URU and SP;

• CESAR West: Max has initiated a first pass field program to identify copper-silver mineralization along the new CESAR West 180-kilometre-long copper-silver target zone.

QUALIFIED PERSON

The Company's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, who serves as a qualified person under the definition of National Instrument 43:101.

ABOUT MAX RESOURCE CORP.

Max Resource Corp. is an Energy Metals and Precious Metals exploration company, engaged in advancing both its district-scale CESAR copper-silver project in Colombia and the newly acquired RT Gold project in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both sediment-hosted-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.

Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

For more information visit: https://www.maxresource.com/

TSX Venture 50™ for 2021 video: MAX Resource Corp. (TSXV: MXR) – 2021 TSX Venture 50 – YouTube

For more information visit: www.tsx.com/venture50

For additional information contact:

Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100

*The Venture 50 ranking is provided by TSX Venture Exchange Inc. ("TSXV") for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of this information, and are not responsible for any errors or omissions in or any use of, or reliance on, this information. The Venture 50 program is not an invitation to purchase securities listed on TSX Venture Exchange. TSXV and its affiliates do not endorse or recommend any of the referenced securities or issuers, and this information should not be construed as providing any trading, legal, accounting, tax, investment, business, financial or other advice and should not be relied on for such purposes"

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

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates 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 statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83549

TORONTO, ON / ACCESSWIRE / May 11, 2021 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce a possible source of massive sulphide mineralization intersected in 2 widely spaced holes VA19-48, drilled in 2019, and pre-PJX hole KV90-41 drilled in 1990 on the PJX's Vine Property. The 2 holes are about 700 metres apart. They both intersected massive sulphide mineralization that appears to be similar in style to mineralization that occurs proximal to the Sullivan zinc-lead-silver deposit located 35 km north of the property.

Highlights

• The historical Sullivan deposit has a central vent with zinc and lead mineralization proximal to the vent.

• Tourmaline is a boron based alteration mineral that occurs in and around the Sullivan vent.

• Biogeochem sampling of trees during 2020 identified a boron geochem anomaly (Figure 1 below).

• Biogeochem survey also identified a large zinc/zinc+lead anomalous area proximal to the boron anomaly (Figure 2 below).

• Biogeochem survey may have identified a possible vent at depth that could be the source of what appears to be a New Massive Sulphide (NMS) horizon intersected in PJX's 2019 drill hole (VA19-48) and the Pre-PJX drill hole KV90-41.

• PJX plans to drill a preliminary hole in the coming months to test the potential for a vent with proximal zinc-lead-silver massive sulphide mineralization along the projected extension of the NMS horizon in the vicinity of the boron anomaly.

"The Vine Vein is a surface showing with zinc, lead, copper, gold, and silver" states Mr. John Keating, President and CEO of PJX Resources. "In the 1980's Cominco believed that massive sulphide mineralization in the Vine vein (Figure 3 below) may have been remobilized from a Sullivan type deposit at depth. Cominco drilled holes to 500 m deep at the Vine vein but did not intersect a Sullivan type deposit. The pre-PJX 1990 hole and PJX's 2019 hole intersected the NMS massive sulphide mineralization 300 m deeper than the geological horizon Cominco tested. There have only been a few holes drilled deep enough to test the NMS horizon. We believe there is substantial untested potential to discover a massive sulphide deposit across the Vine Property. Biogeochem sampling may be a good tool to help unlock that potential."

Figure 3

Corporate Update

The Company announces that Mr. Kent Pearson has resigned as a Director of the Company. Kent has been a director with the Company since March, 2011. During his tenure Kent was instrumental in helping to build the Company and broaden its network. The Board would like to thank Kent for his efforts and support. The Board wishes him success in his future endeavors.

Qualified Persons

The foregoing geological disclosure has been reviewed and approved by Dave Pighin, P.Geo., and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Pighin is the consulting geologist for PJX on the Vine Property and was responsible for managing historical drilling undertaken by Kokanee Exploration in the 1990's. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver and base metals (zinc, lead, copper). PJX's primary properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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 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: PJX Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/646660/Innovative-Biogeochem-Survey-Identifies-Potential-Massive-Sulphide-Target-To-Drill-on-PJXs-Vine-Property

VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture: BRZ) (OTCQB:BLILF) is pleased to provide an update as announced by Minera Salar Blanco (“MSB”).

__________________________________________________________________________________

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

_______________________________________________________________________________

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

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

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

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

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

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

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

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

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

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

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

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

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

About Minera Salar Blanco (MSB)

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

About Mitsui & Co. Ltd

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

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

About Bearing Lithium Corp.

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

ON BEHALF OF THE BEARING LITHIUM BOARD

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

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

Cautionary Statements Regarding Forward Looking Information

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

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

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce that President and CEO, Jordan Trimble, will present at the Red Cloud Conference "Uranium: Fueling the Path Towards Electrification", which will take place virtually on May 13, 2021.

Mr. Trimble will provide an overview of Skyharbour's current activity as an exploration company, together with next steps for the Company's high-grade uranium exploration projects and prospect generator model in Saskatchewan.

Skyharbour Presentation

• Date: May 13, 2021

• Time: 1:40pm ET / 10:40am PT

• Spokesperson: Jordan Trimble B.SC., CFA, President and CEO

Investors interested in attending the Skyharbour Resources webcast at the event can register here:
https://www.redcloudfs.com/uraniumconference2021/

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company has plans for upcoming drill programs at the project.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
_________________________
Jordan Trimble
President and CEO

For further information contact myself or:
Spencer Coulter
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to provide an update on its Back Forty Project in Michigan.

Optimized Feasibility Study
In March 2021, Aquila engaged Osisko Technical Services ("OTS") to lead an optimized feasibility study (the "Feasibility Study") for the Back Forty Project. Aquila is leveraging OTS’ combined engineering, permitting, construction and operating expertise to unlock value and advance the Back Forty Project through its next phase of development.

A key objective of the optimized Feasibility Study is to reflect feedback from the Michigan Department of Environment, Great Lakes & Energy ("EGLE") and the local community since the original Back Forty permits were issued. By incorporating the underground mine plan in the Feasibility Study and modifying the Project footprint, the Company expects to demonstrate substantially reduced surface impact, including wetland impacts, and a longer mine life for the benefit of all stakeholders.

Current Feasibility Study activities are focused on:

• Evaluating open pit configurations and surface infrastructure layouts that avoid direct impact to regulated wetlands;

• Progressing underground mine planning including ore delivery scheduling, ventilation, and confirming the location of the box cut;

• Updating the mineral resource estimate using current metal prices and Net Smelter Return calculations; and

• Preparing samples for additional metallurgical tests to support a simplified process flowsheet and enhanced gold recoveries.

Subject to securing additional funding, the Company’s objective is to complete the Feasibility Study in Q4 2021.

Guy Le Bel, President & CEO, commented, "We are committed to advancing the Back Forty Project with a collaborative approach that integrates feedback from the community. Our goal is to design, build and operate a 21st century mine in sync with American values of safety, quality work, leading-edge technology, and environmentally responsible mineral extraction. The resulting mine will offer over a decade of net benefits to local and regional communities while being protective of the environment."

Permitting
The Feasibility Study design will build on the substantial technical and environmental work that Aquila has completed since the submission of the original permit applications and the completion of the 2018 open pit feasibility study. Given the enhancements to the Project and the ability to demonstrate substantially reduced environmental impact by incorporating the underground mine plan, Aquila believes the most efficient path to shovel-ready status is to focus efforts on successfully permitting the optimized Feasibility Study design.

As such, the Company has determined not to proceed with its appeal of the January 2021 decision by an Administrative Law Judge to deny the prior issuance of the Wetlands Permit. The Feasibility Study team is focused on a design seeking to avoid direct impacts to wetlands. Even if a Wetlands Permit is required, Aquila expects that it will be able to secure a re-issued permit from EGLE based on the fieldwork already completed under the existing Wetlands Permit and progress on the groundwater modeling that would be used to support any estimates of indirect wetland impacts.

The Company has also determined not to proceed with the contested case of the amended Mining Permit. As the amended Mining Permit only contemplates the open pit portion of the Project, there is no benefit to continuing to dedicate resources to a permit under which the Company does not plan to proceed. Following the completion of the Feasibility Study, the Company will submit an application for a Mining Permit that reflects the optimized design, including the underground mine plan. Should a Wetlands Permit and Dam Safety Permit be required, the Company will submit applications for these permits concurrent with the Mining Permit application. A key benefit of this approach is that it should facilitate a consolidated review process and, compared to a sequential process, compress the timeline to permit issuances.

The Company is maintaining its Air Permit and National Pollutant Discharge Elimination System (NPDES) Permit in good standing and will proceed with timely renewals of these permits, as required.

ABOUT AQUILA
Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is currently advancing pre-construction activities for its flagship 100%‐owned gold and zinc‐rich Back Forty Project in Michigan.

The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.

Aquila has two other exploration projects: Reef Gold Project located in Marathon County, Wisconsin and the Bend Project located in Taylor County, Wisconsin. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold. Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" 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". In particular, this news release contains forward-looking information pertaining to the following: the ability of the Company secure additional funding and complete the Feasibility Study on the timeline provided or at all, the outcome of the Feasibility Study, the ability of the Company to successfully permit the Back Forty Project, and other development plans and objectives. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability of the Company to close the Offering; risks and uncertainties related to the availability of further advances of the remaining deposit under the Gold Stream; the availability of senior construction financing for the Back Forty Project; risks with respect to the COVID-19 pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005481/en/

Contacts

Guy Le Bel, President & CEO
Tel: 450.582.6789
glebel@aquilaresources.com

Barry Hildred, Executive Chair
Tel: 647.943.5672
bhildred@aquilaresources.com

David Carew, VP Investor Relations
Tel: 647.943.5677
dcarew@aquilaresources.com

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

View our latest analysis for SouthGobi Resources

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

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

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

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

A Different Perspective

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

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

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

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

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

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

Total Revenues

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

Occidental Petroleum Corporation Price, Consensus and EPS Surprise

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

Segment Details

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

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

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

Production & Sales

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

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

Realized Prices

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

Highlights of the Release

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

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

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

Financial Position

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

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

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

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

Guidance

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

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

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

Zacks Rank

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

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

Other Releases

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

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

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

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Select high-grade drill results

Select high-grade drill results

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

(Roscoe Postle Associates Inc, 2012)

Infographic 3

Infographic 3

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

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

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

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

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

Key Points:

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

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

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

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

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

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

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

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

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

Terms of the Share Purchase Agreement

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

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

The Matoush Uranium Project

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

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

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

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

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

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

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

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

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

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

Historic Mineral Resources

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

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

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

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

Global Historic Mineral Resource Table

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

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

Technical Disclosure and Qualified Person

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

About International Consolidated Uranium

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

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

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

Cautionary Statement Regarding Forward-Looking Information.

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

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

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

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

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

Highlights

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

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

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

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

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

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

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

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

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

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

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

Trench zone

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

Table 1. Assay results – Trench zone

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

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

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

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

Horseshoe zone

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

Table 2. Assay results – Horseshoe zone

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

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

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

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

Figure 1. Map showing drill hole locations

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

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

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

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

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

Table 3. Drill collar locations

Notes: * NAD 83 Zone 9N

Quality Assurance and Quality Control

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

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

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

National Instrument 43-101 Disclosure

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

Community Engagement

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

Buck Property

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

Health and Safety

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

About Sun Summit

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

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

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

Further details are available at www.sunsummitminerals.com

Figures

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

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

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

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward Looking Information

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

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

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

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

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

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

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

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

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

Walter Hanych – Head Geologist, Director

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

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

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

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

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

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

Jonathan Held
Chief Financial Officer
416-270-9566

Cautionary Notes

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

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

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

The following analysis and test works will be conducted:

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

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

  • LOI by muffle furnace (Table 1);

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

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

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

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

Overview

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

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

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

Iron Analysis

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

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

Geotechnical Test-Works

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

Laboratory tests to be conducted:

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

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

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

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

Density and Magnetic Susceptibility

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

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

About Botswana International University of Science and Technology

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

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

About ALS Chemex, South Africa

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

About the XIF Project

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

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

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

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

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

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

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

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

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

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

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

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

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

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

About Tsodilo Resources Limited

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

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

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

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

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

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

Website
http://www.TsodiloResources.com

SOURCE: Tsodilo Resources Limited

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

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

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

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

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

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

On behalf of the Board,

Eira Thomas
President and Chief Executive Officer

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ABOUT LUCARA

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

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

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

SOURCE Lucara Diamond Corp.

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

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

Highlights

• Merger combines two of the largest lithium development projects globally

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

• Geographic & geological diversity in mining friendly jurisdictions

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

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

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

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

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

Completion of the Arrangement

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

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

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

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

Go Forward Management / Board of Directors

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

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

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

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

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

Information for Former Plateau Shareholders

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

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

Additional Information

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

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

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

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

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

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

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

“Simon Clarke”

CEO & Director
Tel: 604 428 6128

For further information, please contact:

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

“Dr. Laurence Stefan”

Director, President & Interim CEO

+1-416-628-9600
IR@PlateauEnergyMetals.com

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

Cautionary Statement Regarding Forward Looking Information

This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. These include statements regarding the intent of American Lithium and Plateau (the “Companies”), or the beliefs or current expectations of the officers and directors of the Companies post closing of the Transaction. Forward-looking statements in this news release include, but are not limited to, statements regarding anticipated benefits of the Transaction, TLC, Falchani and Macusani Uranium (the “Projects”), listing of the Exchange Warrants and any statements regarding the business plans, expectations and objectives of the Companies.

Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although the Companies believe that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since the Companies can provide no assurance that such opinions and expectations will prove to be correct.

All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: the Companies' ability to achieve their stated goals as a result of the Transaction; the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Companies or others to attempt to reduce the spread of COVID-19 could affect the Companies, which could have a material adverse impact on many aspects of the Companies’ businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact Plateau’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the Companies’ potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of the Companies, including the status of the “Precautionary Measures” filed by Plateau’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which the Companies operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of the Companies’ shares and could negatively affect the Companies’ ability to raise capital and may also result in additional and unknown risks or liabilities to the Companies. Other risks and uncertainties related to prospects, properties and business strategy of Plateau and American Lithium are identified, respectively, in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on January 29, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. Neither of the Companies undertakes any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Cautionary Note Regarding Plateau Concessions

Thirty-two of Plateau’s 151 concession are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to the 32 of the concessions invalid due to late receipt of the annual validity payment. Plateau successfully applied for injunctive relief on 32 concessions in a Court in Lima, Peru and the grant of the Precautionary Measures (Medida Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is obtained in at the last stage of the judicial process. If Plateau does not obtain a successful resolution of Processes, Macusani’s title to the concessions could be revoked.

Program Designed To Test Recent 2020 Gold Discoveries

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

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

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

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

About SLAM Exploration Ltd:

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

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

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

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

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

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

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

SEDAR: 00012459E

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

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

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

ABOUT OROCO:

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

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

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

Cautionary Note Regarding Forward Looking Information

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

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

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

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

View our latest analysis for Iluka Resources

How Do You Calculate Return On Equity?

The formula for ROE is:

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

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

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

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

Why Is ROE Important For Earnings Growth?

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

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

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

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

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

Is Iluka Resources Making Efficient Use Of Its Profits?

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

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

Conclusion

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

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

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

Figure 1

Midland Abitibi projects

Figure 2

Lewis project location

Figure 3

Lewis geology and Red Giant showing

Figure 4

Lewis Mag

Figure 5

Trenches location

Figure 6

Trench #1

Figure 7

Red Giant discovery

Figure 8

Red Giant sample

Figure 9

Red Giant trench

Figure 10

Best channels 1-2

Figure 11

Best channel 3

Figure 12

IP survey location

Figure 13

IP results and drilling targets

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

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

Highlights:

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

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

• Commencing a prospecting program in preparation for a drilling campaign

New gold-bearing structure : Red Giant

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

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

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

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

IP survey identifies new drilling targets

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

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

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

Cautionary statements

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

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

Quality Control

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

About Midland

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

This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland’s website or contact:

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

Website: www.explorationmidland.com

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

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

Photos accompanying this announcement are available at

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

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

__________________________________________________________________________________

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

_______________________________________________________________________________

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

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

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

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

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

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

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

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

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

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

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

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

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

About Minera Salar Blanco (MSB)

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

About Mitsui & Co. Ltd

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

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

About Bearing Lithium Corp.

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

ON BEHALF OF THE BEARING LITHIUM BOARD

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

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

Cautionary Statements Regarding Forward Looking Information

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

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

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

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

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

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

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

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

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

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

About Fission Uranium

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

ON BEHALF OF THE BOARD

" Ross McElroy "

Ross McElroy, Chief Executive Officer

Forward-Looking Statements

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

SOURCE Fission Uranium Corp.

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

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

Highlights:

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

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

  • Average U₃O₈ grade of 0.101%

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

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

Updated Mineral Resource Estimate – 29 March 2021

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

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

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

1. 0.02 percent grade cutoff;

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

3. Fall within the 0.10 GT contour; and

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

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

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

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

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

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

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

Follow us on Twitter at @AzargaUranium.

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

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

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

SOURCE: Azarga Uranium Corp.

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

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

See our latest analysis for Pretium Resources

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

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

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

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

A Different Perspective

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

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

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

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

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

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

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

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

2020 Sustainability Highlights:

• Recognitions

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

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

• Positive Economic Impact

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

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

• Robust Corporate Governance

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

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

  • Short-term incentive compensation structure incorporates ESG performance

• Benefits to our Local Communities

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

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

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

• Environmental Stewardship

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

  • Significant decrease in freshwater use intensity rate compared to 2019

  • Achieved zero discharge of industrial wastewater at all operations

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

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

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

  • Successful biodiversity management in an environmentally sensitive area

About the 2020 Sustainability Report

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

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

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

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

About Dundee Precious Metals Inc.

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

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

For further information please contact:

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

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

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