Val-d'Or, Quebec–(Newsfile Corp. – May 3, 2021) – Abitibi Royalties Inc. (TSXV: RZZ) (OTC: ATBYF) ("Abitibi Royalties" or the "Company") is pleased to provide its Q1-2021 corporate update on its net smelter royalties (NSRs) at the Canadian Malartic Mine, Canada's largest gold mine, near Val-d'Or, Quebec. The Company is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of shares outstanding.

Royalties at Canadian Malartic Mine

The Canadian Malartic Mine, where Abitibi Royalties owns various NSRs and a net profit interest ("NPI"), is jointly operated by Agnico Eagle Mines Limited ("Agnico Eagle") and Yamana Gold Inc. ("Yamana"). Abitibi Royalties' NSRs and NPI cover portions of East Malartic (3% NSR), Odyssey (3% NSR), Sladen (3% NSR), Sheehan (3% NSR), Jeffrey (3% NSR), Barnat Extension (3% NSR), Gouldie Zone (2% NSR) and the Charlie Zone (2% NSR). In addition, the Company holds a 1.5% NSR on the Midway Project and a 15% NPI on the Radium Property, which are all operated and located at, or proximate to, the Canadian Malartic Mine (Fig. 1).

1) Barnat Open Pit Production

The mine operators stated that throughout 2021 the mine will continue its transition from the Malartic pit to the Barnat pit where commercial production was declared on September 30, 2020. Abitibi Royalties holds a 3% NSR on the eastern portion of the Barnat pit (Fig. 1) which is expected to be the main source of royalty revenue during 2021-2023 for the Company at Canadian Malartic. Please see the Company's news release dated April 5, 2021 for the Company's 3-year royalty production schedule.

2) Canadian Malartic Underground Development Update

In Q1-2021, Agnico Eagle and Yamana announced a positive construction decision of the Odyssey Underground Project at the Canadian Malartic Mine. Construction of surface infrastructure and the portal in preparation for development of the ramp started in Q3-2020.

During Q4-2020, construction of the mine office and surface facilities was completed in order to support the development and further advance the exploration ramp into Odyssey and East Malartic. The exploration ramp is designed to mine their respective upper zones and provide further exploration access to allow tighter drill spacing and further define the mineral resource base. Approximately 362 linear metres of development were completed in Q1-2021, reaching a depth of 74 metres below surface, which is according to plan. Development of the exploration ramp is anticipated to take approximately two years to complete, with the first drilling platform to be established in Q3-2021. The budget for the ramp is USD$23.4 million for 2021. These activities are coincident with headframe construction and shaft sinking. Construction on the headframe foundation is expected to start in Q2-2021.

The operators have stated that the project requires modest capital in any given year that is manageable and fully funded using Canadian Malartic's cash on hand and free cash flow generation, and no external funding is required.

2) Canadian Malartic Exploration Update

The drilling from surface at the Rand Malartic Property (Fig. 1) has led to the identification of the potential extension of the East Gouldie Zone, which encountered a wide gold-mineralized intercept 1,150 metres from the eastern limit of the East Gouldie mineral resources at a depth of 1,993 metres below surface. Although this intercept is not located on the Company's royalty interest, it opens up the deep exploration potential to the east within the Pontiac Sediments, which lies south of the Cadillac-Larder Lake deformation zone. The Company holds 1.5% NSR on the Midway Project (Fig. 1) (1% can be repurchased for USD$1 million) that contained one of the largest mines in the Malartic region. The Midway Project operated from 1939-1965 to a depth of 800 metres below surface. The Midway Project adjoins Rand Malartic to the east and contains similar geology. This is in addition to the Company's 15% NPI on the Radium-Nord Property, located west of the Canadian Malartic open pit. Exploration drilling also suggests East Gouldie may potentially trend onto the Company's 3% NSR at depth. However, the Company believes additional drilling and information is required to make this determination.

To view the reserve and resource estimate pertaining to Abitibi Royalties' NSR interests at the Canadian Malartic Mine (as of December 31, 2020), please see the Company's news release dated April 5, 2021.

Other Corporate Activity

1) Q1-2021 Royalty Payment & Cash Generation

During Q1-2021, the Company's cash generation¹ totaled approximately CDN$8.3 million, with approximately CDN$0.2 million coming from the Company's 3% NSR at the Canadian Malartic Mine. Royalties from the open pit portion of the Canadian Malartic Mine commenced at the end of Q4-2018 (the Company's core underground royalties at East Malartic and Odyssey are not in production). The remainder of Company's cash generation during the quarter came from options premiums (CDN$0.9 million), dividends (CDN$0.2 million), and capital gains from equity investments in Agnico Eagle/Yamana (CDN$7.0 million) ².

The Company has 12,462,610 shares outstanding and also on a fully diluted basis. As last reported on April 16, 2021, the Company's treasury of cash and marketable securities totaled approximately CDN$52.9 million³.

2) Q2-2021 Dividend Payments to Shareholders

On December 7, 2020, the Company's board of directors approved a 20% dividend increase from CDN$0.15 to CDN$0.18 per common share on an annualized basis (CDN$0.015 monthly). The monthly dividend payments for Q2-2021 are shown in Table 1 below. The June 2021 payment will represent the 18^th dividend payment made to shareholders since the Company's adoption of a dividend policy in September 2019. The full amount of the dividends will be designated as an "eligible dividend" as defined in the Income Tax Act (Canada).

Table 1. Q2-2021 Dividend Schedule

About Abitibi Royalties

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

QUALIFIED PERSON

Mr. Glenn Mullan, Chairman, is the Qualified Person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) who has reviewed this news release based solely on the public disclosure and without independent verification and is responsible for the technical information reported herein.

1. Non-IFRS Measure: The Company has calculated the measure "cash generation" as royalties earned in the quarter and cash received from option premiums, dividends and capital gains. This is a non- IFRS measure as IFRS requires the Company's cash in its financial statements to be recognized using the accrual basis of accounting. The Company believes that this measure, while not a substitute for measures of performance prepared in accordance with IFRS, provides investors an improved ability to evaluate the underlying performance of the Company.

2. For more information on the Company's investments, dividends, covered call and put contracts, please see the Company's Q4-2020 MD&A and Q4-2020 Financial Statements, which can be found on the Company's website: www.abitibiroyalties.com.

3. Investment values calculated based on closing prices and certain share price limits due to call option contracts as of April 16, 2021.

For additional information, please contact:

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

Forward-Looking Statements:

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

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

Fig. 1 Royalties at the Canadian Malartic Region – Plan Map

https://static1.squarespace.com/static/5e274a28cbaf5d0d3e29734b/t/606922a8423dd30e8cc4dab4/1617502897689/April3-2021fig1.png

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82623.

If you want to know who really controls Lynas Rare Earths Limited (ASX:LYC), then you'll have to look at the makeup of its share registry. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that used to be publicly owned tend to have lower insider ownership.

Lynas Rare Earths is a pretty big company. It has a market capitalization of AU$5.0b. Normally institutions would own a significant portion of a company this size. In the chart below, we can see that institutional investors have bought into the company. Let's take a closer look to see what the different types of shareholders can tell us about Lynas Rare Earths.

View our latest analysis for Lynas Rare Earths

What Does The Institutional Ownership Tell Us About Lynas Rare Earths?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in Lynas Rare Earths. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Lynas Rare Earths, (below). Of course, keep in mind that there are other factors to consider, too.

Lynas Rare Earths is not owned by hedge funds. New York Life Investment Management LLC is currently the largest shareholder, with 7.4% of shares outstanding. In comparison, the second and third largest shareholders hold about 6.0% and 5.0% of the stock.

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Lynas Rare Earths

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our most recent data indicates that insiders own some shares in Lynas Rare Earths Limited. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around AU$52m worth of shares (at current prices). If you would like to explore the question of insider alignment, you can click here to see if insiders have been buying or selling.

General Public Ownership

The general public holds a substantial 55% stake in Lynas Rare Earths, suggesting it is a fairly popular stock. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Be aware that Lynas Rare Earths is showing 3 warning signs in our investment analysis , you should know about…

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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

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

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

CNX Resources Corporation (NYSE:CNX) has not performed well recently and CEO Nick DeIuliis will probably need to up their game. Shareholders can take the chance to hold the board and management accountable for the unsatisfactory performance at the next AGM on 06 May 2021. It would also be an opportunity for shareholders to influence management through voting on company resolutions such as executive remuneration, which could impact the firm significantly. The data we present below explains why we think CEO compensation is not consistent with recent performance.

View our latest analysis for CNX Resources

How Does Total Compensation For Nick DeIuliis Compare With Other Companies In The Industry?

According to our data, CNX Resources Corporation has a market capitalization of US$3.1b, and paid its CEO total annual compensation worth US$11m over the year to December 2020. That's a notable decrease of 20% on last year. We think total compensation is more important but our data shows that the CEO salary is lower, at US$800k.

On comparing similar companies from the same industry with market caps ranging from US$2.0b to US$6.4b, we found that the median CEO total compensation was US$6.6m. Hence, we can conclude that Nick DeIuliis is remunerated higher than the industry median. Furthermore, Nick DeIuliis directly owns US$12m worth of shares in the company, implying that they are deeply invested in the company's success.

On an industry level, roughly 20% of total compensation represents salary and 80% is other remuneration. CNX Resources sets aside a smaller share of compensation for salary, in comparison to the overall industry. If non-salary compensation dominates total pay, it's an indicator that the executive's salary is tied to company performance.

CNX Resources Corporation's Growth

Over the last three years, CNX Resources Corporation has shrunk its earnings per share by 120% per year. Its revenue is down 30% over the previous year.

Few shareholders would be pleased to read that EPS have declined. And the fact that revenue is down year on year arguably paints an ugly picture. It's hard to argue the company is firing on all cylinders, so shareholders might be averse to high CEO remuneration. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future.

Has CNX Resources Corporation Been A Good Investment?

Since shareholders would have lost about 13% over three years, some CNX Resources Corporation investors would surely be feeling negative emotions. This suggests it would be unwise for the company to pay the CEO too generously.

In Summary…

Along with the business performing poorly, shareholders have suffered with poor share price returns on their investments, suggesting that there's little to no chance of them being in favor of a CEO pay raise. At the upcoming AGM, management will get a chance to explain how they plan to get the business back on track and address the concerns from investors.

While CEO pay is an important factor to be aware of, there are other areas that investors should be mindful of as well. We've identified 1 warning sign for CNX Resources that investors should be aware of in a dynamic business environment.

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

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

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

Buchans Exercises 13 Million Share Purchase Warrants

Reduction of Debt

Toronto, Ontario–(Newsfile Corp. – April 30, 2021) – Xtierra Inc. (TSXV: XAG) ("Xtierra" or the "Company") reports its results for the year ended December 31, 2020.

This news release should be read in conjunction with the Company's audited financial statements and the associated management's discussion and analysis (MD&A) for the year ended December 31, 2020 which are available on the Company's website at www.xtierra.ca or under the Company's profile on SEDAR (www.sedar.com). Amounts are stated in US dollars unless otherwise stated.

Company Overview

Xtierra is a natural resource company which holds mineral exploration properties located in the Central Silver Belt of Mexico in the State of Zacatecas and is also pursuing new opportunities, including mineral exploration and development projects, and the potential acquisition of mineral and other royalties.

Xtierra is pursuing a strategy for realizing some value on its Bilbao and other Mexican projects in the context of the current resource cycle, as well as identifying and evaluating new potential royalty acquisitions.

Xtierra, through its Mexican subsidiaries, currently holds a 100% interest in the Bilbao zinc-silver-lead-copper project, in the southeastern part of the State of Zacatecas, on which an independent Technical Report in accordance with NI 43-101 containing an updated resource estimate and preliminary economic assessment (PEA) was completed in 2014. The Company maintains the Bilbao property in good standing while at the same time examining strategic alternatives for further exploring and /or development of the property.

On August 27, 2020, Xtierra announced its intention to re-assess the Bilbao deposit based on the recent rise in silver prices which have approached the level estimated in the PEA which combined with the 2010-2013 drill results which outlined the potential to expand tonnage through the unexplored high grade vein systems.

In late 2020 Xtierra commenced a drilling program to further explore the high grade silver potential at Bilbao in 2 areas. After receiving its drilling permit on the area located adjacent to and west of the main Bilbao Silver-Lead-Zinc deposit, called the Victor vein, Xtierra drilled 5 holes over the December to February period for a total of 1800 meters. This high grade silver zone runs north-south over a strike length of approximately 500 meters. The objective of drilling into this silver zone was to confirm the continuity of the high grade silver values to the northwest between historical drill holes X42 and X100 to the south which are separated by 500 meters.

Overall, the drill results on the five holes on the Victor vein demonstrated both consistency and continuity of the mineralization which should add to the economics of the Bilbao deposit. Furthermore, the results extend the thesis that the surrounding veins are a completely different mineralization than the skarn in the main Bilbao deposit and therefore there is believed to be considerable unexplored potential.

On April 22, 2020, the Company entered into an agreement to acquire 88% of the shares of Minera Portree

Minera Portree holds various legal or royalty interests in certain mineral properties in Mexico, including the Company's Bilbao property and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine in Zacatecas operated by Capstone Mining Corp. (TSX:CS), five of which were acquired by Capstone from a third party in 2017 and 2019.

The third-party had acquired the six mining concessions from Minera Portree in 2002, subject to a 2% net smelter royalty retained by Minera Portree. The entitlement of Minera Portree to the royalty may be contested by the third party and/or Capstone.

Exercise of Share Purchase Warrants

On April 27, 2021, Buchans Resources Limited ("Buchans") exercised its share purchase warrants and acquired 13,000,000 shares of Xtierra for a consideration of CDN$650,000. On the same date, Xtierra reduced its debt due to Buchans by the payment of $600,000.

Support Extension Agreement

By a Second Extension Amendment Agreement dated April 27, 2021, the Support Agreement between Buchans and the Company was further amended to provide that interest on the remaining balance of the notes due to Buchans in the amount of $196,000 will resume to accrue at the rate of 5% per annum effective May 1, 2021 until paid, and the Term was extended for a further period to April 30, 2023.

Grant of Share Purchase Warrants

In connection wot the Second Extension Agreement whereby the term of the remaining debt was extended to April 30, 2023,Xtierra has agreed to issue to Buchans, subject to TSXV approval, 5 million share purchase warrants with each warrant entitling Buchans to purchase one common share of Xtierra at a price of CDN$0.10 per share for a term of two years until April 30, 2023.

Results of Operations

The Company recorded no revenue for the year ended December 31, 2020 or 2019.

For the year ended December 31, 2020, the Company recorded a loss of $563,338 ($0.004 per share), which included warrants valuation expense of $186,492, share-based payment expense of $127,671 and exploration expenditures of $129,566.

For the year ended December 31, 2019, the Company recorded a loss of $167,667 ($0.001 per share). The main component being exploration expense of $104,508, which included $76,829 investment on the acquisition of the 1.5% royalty on the Bilbao property which was expensed to exploration and evaluation costs as incurred as the carrying value of the Bilbao had been impaired in earlier accounting periods.

During June and July 2020, the Company raised Cdn$1,000,000 through the issue of 20,000,000 new shares.

At December 31, 2020, the Company had cash of $523,651 to settle current liabilities of $143,168, excluding $796,477 due to Buchans and $2,000,000 contingent liability of a subsidiary. See Notes 8 and 10 to the Consolidated Financial Statements for the year ended December 31, 2020.

The book value of total assets at December 31, 2020 was $765,277 compared to $60,990 at December 31, 2019. The Company has invested $22,968,264 on its Bilbao mineral project, which in accordance with the Company's accounting policies has been fully impaired in prior periods.

For further information contact Xtierra Inc. at info@xtierra.ca

John F. Kearney
Chairman
(416) 362-6686

Tim Gallagher
President & Director
(416) 925‐0090

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82599

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

VANCOUVER, BC, April 30, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") announces the resignations of Peter Tegart, an independent director of the Company and Warner Gruenwald, Vice President of Exploration and a director of the Company.

Both Peter and Warner have spent many years with Finlay, and their guidance and industry knowledge will be missed. Peter is stepping out of his mining industry roles and focusing on family, while Warner has taken on another role in industry. Finlay's management and directors wish Peter and Warner good health and all the best in their individual pursuits.

With their resignations, Finlay has set up a search team to find two further capable directors.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.

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

On behalf of the Board of Directors,

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

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

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

SOURCE Finlay Minerals Ltd.

View original content: http://www.newswire.ca/en/releases/archive/April2021/30/c7703.html

VANCOUVER, Canada, April 30, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that it has entered into agreements with Ruben Rodriguez Villegas (“Rodriguez”) of Mexico City to acquire 25 shares of Xochipala Gold, S.A. de C.V. (“Xochipala Gold”) for US$1.5 million. Xochipala Gold holds 100% of the registered title (85% of the beneficial ownership) to the seven core concessions (the “Core Concessions”) of the Company’s Santo Tomas Project. The shares of Xochipala Gold being acquired currently represent 8.5% of the beneficial ownership of the Core Concessions.

Background: Prior to reaching the current agreements with Rodriguez, the Company’s held all 180 issued shares of Xochipala Gold (the “Shares”). Mr. Rodriguez held a right to 50 of the Shares, as well as a 0.5% net smelter royalty in the Core Concessions. The Company held an option, through its wholly owned subsidiary Desarrollos Copper, S.A de C.V., to acquire all of Rodriguez’s rights and interest in the Shares for payments totaling US$16 million (the “Desarrollos Option”).

The Company has entered into agreements with Mr. Rodriguez to:

1. Purchase Mr. Rodriguez’s right to 25 of the Shares for US$1.5 million.

2. Register to Mr. Rodriguez the legal title to the remaining 25 Shares to which he has a right.

In committing to the agreements with Rodriguez, the Company determined that it would not proceed with the Desarrollos Option.

The acquisition of Mr. Rodriguez’s right to 25 of the Shares increases the Company’s current interest in Xochipala Gold to 86.1% and its current net interest in the Core Concessions to 73.2%. The share purchase provides Oroco with the opportunity to acquire up to 85.5% of the Core Concessions with a project investment of up to CAD$30 million, an increase of 4.5%.

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

Sydney, Australia–(Newsfile Corp. – April 30, 2021) – Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (the "Company") is pleased to announce that it has filed its Q1 2021 Quarterly Activity Report. The Report is available under the Company's profile at www.asx.com.au, www.sedar.com and on the Company's website at www.australgold.com.

About Austral Gold

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

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

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

For additional information please contact:

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

David Hwang
Company Secretary
Austral Gold Limited
info@australgold.com
+61 (2) 9698 5414

Austral Gold Limited ABN 30 075 860 472 ASX: AGD TSXV: AGLD

Level 5 126 Phillip St, Sydney NSW 2000 | T +61 2 9380 7233 | F +61 2 9251 7455 | info@australgold.com | www.australgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82477

LONDON, UK / ACCESSWIRE / April 28, 2021 / Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) ('Horizonte' or 'the Company') the nickel company focused in Brazil, is pleased to announce that it has awarded the contract for the Environmental & Social Impact Assessment (ESIA) for the Company's 100% owned nickel cobalt Vermelho project ('Vermelho' or the 'Project') to Ramboll.

Ramboll is a leading global consultancy firm with 300 offices worldwide, including Belo Horizonte. Ramboll's Impact Assessment services are based on both commercial understanding and technical rigour to deliver projects that are advanced, sustainable and provide value to society. Horizonte has previously worked with Ramboll on the hydrology for its flagship Araguaia ferronickel project.

The ESIA is an essential part of the permitting process for Vermelho and expected to lead to the award of the Preliminary Licence. As Vermelho is located within the Pará State, the technical agency responsible for reviewing the Environmental Impact Study and Report will be the Pará State Secretariat for Environment and Sustainability, SEMAS.

Previous owner, Vale, conducted multiple environmental and social studies and reached a positive construction decision in 2015. The historical database created by Vale provides an excellent background and basis of the new sustainability studies. Horizonte is also optimising the engineering for Vermelho's dry-stack residue storage facility option. An additional benefit from the Project resulting from this optimisation is the production of a bi-product, kieserite fertilizer which will be sold commercially into the Pará state agricultural market.

Ramboll will be completing new field campaigns in a Covid-19 safe manner and is well serviced by its existing sustainability team in the Pará state region. The integrated ESIA will reflect the current physical, biological and social settings and will include, but is not limited to:

• Water availability and quality

• An air and noise baseline study

• Soil quality

• A flora and fauna inventory

• Socio-economic considerations

• Community health and safety

• Resettlement

• Cultural heritage

In addition to local permit studies, further social and environmental impact assessments will be undertaken in line with International Finance Corporation Performance Standards and the Equator Principles (IV).

Horizonte CEO, Jeremy Martin commented:"The appointment of Ramboll highlights our commitment to the highest standards of sustainability practices as we work to develop Vermelho. Vermelho is a tier one nickel-cobalt project that will come online to supply the rapidly growing EV battery market. The planned completion of Araguaia financing will enable Horizonte to expedite the development of Vermelho through feasibility and permitting.

Vermelho is scheduled to start production at a critical point in the nickel market, where the supply deficit is projected to widen, particularly in the battery sector. With limited next generation nickel projects in the global near-term pipeline, Horizonte is in a unique position. Progressing Vermelho through to a construction ready status will significantly de-risk the Project and we believe this will be increasingly reflected in the value attributed to the Project by the market.

Advancing Vermelho and working towards start of construction at Araguaia are all part of our business plan as we move to become a significant nickel producer, allowing shareholders to realise value from our exceptional, wholly-owned asset base."

For further information, visit www.horizonteminerals.com or contact:

About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information 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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
https://www.accesswire.com/643216/Horizonte-Minerals-PLC-Announces-Vermelho-ESIA-Contract-Awarded-to-Ramboll

Vancouver, British Columbia–(Newsfile Corp. – April 29, 2021) – Full Metal Minerals Ltd. (TSXV: FMM) ("Full Metal" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has provided the Company with final approval of: (i) its previously announced non-brokered private placements that closed in two tranches on March 9 and March 22, 2021 (see press releases disseminated on April 20, 2018, October 8, 2020, December 24, 2020, March 9, 2021 and March 22, 2021 for further details) (the "Private Placements"); (ii) the option letter agreement dated February 25, 2020, as amended July 30, 2020, August 28, 2020, December 15, 2020, February 1, 2021 and March 12, 2021 (the "Option Agreement"), between the Company and GSP Resource Corp.'s ("GSPR") pursuant to which the Company acquired an option to earn a 60% interest in GSPR's Olivine Mountain property (the "Property") in the Similkameen Mining Division, British Columbia (press releases disseminated February 26, 2020, July 31, 2020, October 8, 2020, December 24, 2020, February 18, 2021 and March 22, 2021 for further details) (the "Fundamental Acquisition"); and (iii) the issuance of up to 30,056,528 common shares of the Company ("Shares") at a deemed price of $0.08 per Share to settle certain outstanding accounts payable and contingent liabilities in the aggregate amount of $2,404,522.37 owing to certain creditors (press release disseminated December 24, 2020 for further details) (the "Shares for Debt Transaction").

Resumption of Trading

As a result of the TSXV's approval of the Fundamental Acquisition, the Private Placements and the Shares for Debt Transaction, the Company confirms that previous deficiencies with the Company's Tier 2 Continued Listing Requirements (as such term is defined under TSXV policies) reflected in the Company's most recent financial statements have been remedied in accordance with Section 2.1 of TSXV Policy 2.5. Effective at market open, Friday, April 30, 2021, the Company is pleased to announce that the securities of Company will resume trading on the TSXV.

Fundamental Acquisition

Pursuant to the Option Agreement, as consideration for the acquisition of the interest in the Property, the Company will (i) pay to GSPR an aggregate of $515,000 over the 48 month period following the acceptance of the TSXV of the Option Agreement (the "Acceptance Date"); (ii) incur expenditures in the aggregate amount of $500,000 during the 48 month period following the Acceptance Date; (iii) and issue an aggregate of 350,000 Shares during the 48 month period following the Acceptance Date. The Company has completed the first cash payment of $40,000 and issued 100,000 Shares to GSPR pursuant to the payment schedule in the Option Agreement.

All securities issued under the Fundamental Acquisition are subject to a four month and one day hold period. The Fundamental Acquisition is an arm's length transaction. No finder's fees were paid in respect of the Fundamental Acquisition. A copy of the Option Agreement can be found on the Company's SEDAR profile at sedar.com.

Filing of Technical Report for Olivine Mountain

The Company advises that the National Instrument 43-101 independent technical report for the Property titled "Technical Report on the Olivine Mountain Property" with an effective date of July 27, 2020 has been filed under the Company's profile on SEDAR at sedar.com.

The qualified person responsible for the technical report is Agnes M. Koffyberg, M.Sc., P.Geo of Discovery Consultants.

Private Placement

In connection with the closing of the Fundamental Acquisition, the Company also reports that it has released its Shares from trust from the Private Placements that closed in two tranches on March 9 and March 22, 2021. The Private Placements was closed in trust pending final acceptance of the Fundamental Acquisition by the TSXV. The Company issued 23,125,000 Shares for gross proceeds of $1,850,000 under the Private Placements.

The Company intends to use the proceeds of the Private Placements primarily for exploration expenses, project evaluation and due diligence, along with general and administrative expenses and working capital.

Shares for Debt Transaction

The Company also announces that the Company has closed the Shares for Debt Transaction, pursuant to which the Company issued 30,056,528 Shares at a deemed price of $0.08 per Share to settle certain outstanding accounts payable and contingent liabilities in the aggregate amount of $2,404,522.37 owing to certain creditors. .

The Company obtained disinterested shareholder approval of the Shares for Debt Transaction by way of written shareholder consents. All Shares are subject to a four-month and one-day hold period in addition to any escrow requirements imposed by the TSXV.

The Shares issued to the debt assignees pursuant to the Shares for Debt Transaction are subject to escrow provisions identical to those imposed by the standard TSX Value Security Escrow Agreement for a Tier 2 Issuer (as described in TSXV Policy 5.4 – Escrow, Vendor Consideration and Resale Restrictions). Pursuant to these escrow requirements, 10% of the Shares issued to the debt assignees will be released from escrow on the date of the TSXV bulletin announcing the Shares for Debt Transaction (the "TSXV Bulletin"), and 15% of such Shares will be released every six months from the date of the TSXV Bulletin for a period of 36 months.

Under the Shares for Debt Transaction, Peter Voulgaris, President, Chief Executive Officer and Director of the Company, acquired 4,969,745 Shares at a deemed price of $0.08 per Share. His participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the Shares for Debt Transaction nor the consideration to be received for those securities, in so far as the Shares for Debt Transaction involves the insider, exceeds $2,500,000. The Company did not file a material change report more than 21 days before the expected closing of the Shares for Debt Transaction as the details of the Shares for Debt Transaction and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.

As a result of the Shares for Debt Transaction, Peter Voulgaris acquired 4,969,745 Shares at a deemed price of $0.08 per Share and now beneficially owns or controls 8,011,899 common shares of the Company, representing approximately 13.53% of the Company's 59,212,456 issued and outstanding Shares on an undiluted basis. The Shares were issued to Mr. Voulgaris in settlement of $397,579.60 of outstanding debt previously owing to Mr. Michael Williams, CEO of the Company. Mr. Voulgaris intends to hold his common shares for investment purposes. Although Mr. Voulgaris does not intend to acquire further common shares of the Company at this time, he may choose to do so as market conditions warrant. A copy of the early warning report filed by Mr. Voulgaris, in accordance with applicable securities laws, is available under the profile for the Company on SEDAR (www.sedar.com). To obtain a copy of the early warning report, or for any further information, please contact the Company at the details provided below.

Corporate Update

Further to the Company's press release disseminated on December 24, 2020, Mr. Peter Voulgaris was appointed as President and Chief Executive Officer of the Company, and Ms. Sheryl Dhillon resigned as Corporate Secretary of the Company, effective December 22, 2020. Mr. Voulgaris replaced Mr. Michael Williams, who remains a director and Non-Executive Chairman of the Company.

As previously disclosed in the Company's management, discussion and analysis, the Company previously advanced loans in the aggregate of $182,000 (the "Loan") to Vendetta Mining Corp. ("Vendetta") pursuant to promissory notes entered into on May 10 and May 31, 2019. Vendetta owns the Pegmont Lead-Zinc project in Australia. At the time the Loan was made the Company was exploring opportunities to expand into Australia (and continues to do so) and the Company advanced the Loan in order to support potential synergies with Vendetta's mineral exploration and development business operations in Australia. The Company advanced the first $110,000 of the Loan to Vendetta on May 10, 2019 and a further $72,000 of the Loan to Vendetta on May 31, 2019.

CEO and President, Peter Voulgaris stated: "We are currently evaluating several opportunities in low risk jurisdictions, including Australia, with the goal of making Full Metal a leading junior development company."

Pursuant to the terms of the promissory notes, the Loan accrues interest at a rate of 7% per annum payable on or before May 10 and May 31, 2021. The Company continues to have ongoing discussions with Vendetta to ensure that the Loan is repaid as soon as possible.

Michael Williams, a director of the Company, is the President, Chief Executive Officer and a director of Vendetta. Peter Voulgaris, President, Chief Executive Officer and a director of the Company, is a director of Vendetta. Alastair Brownlow, Chief Financial Officer and Corporate Secretary of the Company, is the Chief Financial Officer of Vendetta.

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter Voulgaris"

Peter Voulgaris
President/CEO and Director

For more information please contact:

Peter Voulgaris
604-484-7855

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email info@fullmetalminerals.com
www.fullmetalminerals.com

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

Cautionary Note Regarding Forward-Looking Statements: This press release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding, the Fundamental Acquisition, the Private Placements and the use of proceeds thereof, the Option Agreement and the issuance of the Shares thereunder, the Loan and the anticipated repayment of the Loan, future development plans and expansion into Australia and other future plans and objectives of the Company are forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include failure to close the Acquisition, failure to be able to use the proceeds from the Private Placements as anticipated, inability to proceed with future development plans and expansion into Australia, a failure to obtain TSXV approval of the Option Agreement and the issuance of the Shares thereunder or the Loan, failure to raise sufficient funds on the proposed terms or at all and failure to exercise the Property option or failure to be repaid the Loan on the terms described. The forward-looking statements in this press release were developed based on the assumptions and expectations of management, including that TSXV acceptance for the Acquisition, the Option Agreement and the issuance of the Shares thereunder and the Loan will be obtained, that the Loan will be repaid as anticipated, that the Company will be able to use the proceeds from the Private Placements as anticipated, that the Company will be able to meet future development plans and expand into Australia, and the other assumptions disclosed in this press release and that the risks described above will not materialize. There can be no assurance that the Financing or the exercise of the Option will complete. The Company expressly 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 otherwise required by applicable securities legislation.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82435

Great Western Bancorp (GWB) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 52.46%. A quarter ago, it was expected that this holding company for Great Western Bank would post earnings of $0.35 per share when it actually produced earnings of $0.75, delivering a surprise of 114.29%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Great Western Bancorp, which belongs to the Zacks Banks – Northeast industry, posted revenues of $120.06 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 1.87%. This compares to year-ago revenues of $101.9 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Great Western Bancorp shares have added about 56.6% since the beginning of the year versus the S&P 500's gain of 11.4%.

What's Next for Great Western Bancorp?

While Great Western Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Great Western Bancorp was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.59 on $115.19 million in revenues for the coming quarter and $2.56 on $477.63 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks – Northeast is currently in the top 8% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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Vancouver, British Columbia–(Newsfile Corp. – April 29, 2021) – MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report a fifth new copper zone, the "SP Zone", located 8-km north-east of the CONEJO copper-silver discovery, at CESAR North within the wholly-owned CESAR copper-silver project in North Eastern Colombia.

SP is the latest copper zone located along the CESAR North 80-kilometre continuous copper belt (refer to Figure 1).

SP Copper Zone

The new SP zone, lies along the mid portion of the 80-kilometre CESAR North belt, and at first pass, lines up well with the four previous copper discoveries (URU, CONEJO, AMN and AMS). SP, currently represented by mineralized float, is presently being followed up with mapping and geochemical sampling to locate the source of mineralization. Collected soil and rock samples will be sent to ALS for analysis, with results expected in June.

URU Copper Discovery Update

In early April, Max reported the URU zone discovery (refer to April 8, 2021 NR), lying along the southern portion of the CESAR North belt. The presence of copper mineralization extends over 3.7-kilometres, and is open in all directions. Over 125 samples were collected and sent to ALS for analysis. Results are expected early May.

CONEJO Copper-Silver Discovery Update

In March 2021, Max reported the CONEJO discovery (March 24, 2021 NR), spanning over 1.6 by 0.6-km and open in all directions. Twenty-two rock panel samples returned values in excess of 5% copper, highlight values of 12.5% copper and 120 g/t silver from panels varying from 5m by 5m to 1m by 1m. Max cautions investors that rock panel sampling can be selective and are not necessarily representative of the mineralization. The Max field team are currently rock chip sampling and mapping the copper bearing rock to determine potential volume and average copper-silver values.

AMN Copper-Silver Discovery

Reported in March 2020, the AMN (previously named AM North) discovery zone, outcrops along 1.8-kilometres, including a high-grade zone, with highlight values of 34.4% copper and 230 g/t silver (refer to March 4, 2020 NR). AMN has now expanded to a zone of 29-km² of Kupferschiefer-type copper-silver mineralization (refer to December 2, 2020 NR).

AMS Copper-Silver Discovery

Reported in January 2020, located 40-km south of AMN, the AMS (previously named AM South) zone was the very first CESAR stratabound copper-silver discovery (refer to January 21, 2020 NR). The AMS zone has now expanded to 16-km² of Kupferschiefer-type copper-silver mineralization, and is still open along strike and down dip, with highlights of 5.8% copper and 106 g/t silver from 0.1 to 25-metre intervals (refer to October 7, 2020 NR).

"Over an 18-month period, Max extended the CESAR North zone to over 80-kilometres in length. Initial assay results for URU and SP are pending, but considering a CESAR target copper grade of 1%, with highlight values of 5.8 to 34.4% copper and 106 to 205 g/t silver from CONEJO, AMS and AMN, the overall district-size-scale potential for the CESAR basin has clearly been demonstrated," commented Max CEO, Brett Matich.

"Currently US $9,898 a tonne, the copper price is approaching the all time high of US $10,170 a tonne, and combined with projected upcoming copper deficits, CESAR's large-scale prospectively makes Max an extremely attractive opportunity for copper exposure," he concluded.

Figure 1. CESAR Project, the new SP Zone (white square), located along the 80-kilometre-long CESAR North copper belt. The previous discoveries are shown in individual colours.
MXR_EN_2021-04-29_Fig1.jpg (640×521) (maxresource.com)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3834/82194_19dca11464dd4870_002full.jpg

Figure 2
MXR_EN_2021-04-29_Fig2.jpg (635×368) (maxresource.com)

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3834/82194_19dca11464dd4870_003full.jpg

Max interprets the sediment-hosted stratabound copper-silver mineralization in 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 in North Eastern Colombia now covers a significant portion of the 200-km long Cesar Basin, and 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 1).

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

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes, 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-kilometre-long-belt:

  • Max's AMS discovery in late 2019, and on trend 40-km north, AMN discovery (please refer to Figure 2), identified stratabound copper-silver mineralization collectively spanning over 45 sq. km, with highlight values of 0.1 to 34.4% copper and 5 to 305 g/t silver over intervals ranging 0.1 to 25.0-metres;

  • In March 2021, Max reported the CONEJO discovery, consisting of near surface high-grade copper-silver mineralization, spanning an area of 1.6 by 0.6-km and open in all directions. Twenty-two rock panel samples returned values above 5% copper from panels varying from 5m by 5m to 1m by 1m. Overall, sixty-six rock panel samples returned significant values over 1% copper (March 24, 2021 NR). Highlight assays greater than 9% copper and 50 g/t silver:

  • 12.5% copper + 83.5 g/t silver over 5-metre by 5-metre

  • 10.7% copper + 51.6 g/t silver over 1-metre by 1-metre

  • 10.5% copper + 50.1 g/t silver over 3-metre by 2-metre

  • 10.4% copper + 95 g/t silver over 5-metre by 5-metre

  • 10.2% copper + 62 g/t silver over 5-metre by 5-metre

  • 10.0% copper + 80 g/t silver over 5-metre by 5-metre

  • 9.5% copper + 120 g/t silver over 1-metre by 1-metre

  • The Max field team are currently rock chip sampling and mapping the copper bearing rock to determine potential volume and average copper-silver values of the CONEJO zone;

  • Assay results are pending for the newly discovered URU zone, and SP target zone;

• CESAR West: Max has initiated a first pass field program to identify copper-silver mineralization along the new CESAR West 180-kilometre-long 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 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 copper-silver-type in Colombia; high-grade gold porphyry and massive sulfide in Peru.

Max Resource was recognized as 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/

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

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

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/82194

Investors focused on the Basic Materials space have likely heard of Sibanye Gold (SBSW), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SBSW and the rest of the Basic Materials group's stocks.

Sibanye Gold is one of 245 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SBSW is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for SBSW's full-year earnings has moved 11.11% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that SBSW has returned about 22.84% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 20.10%. This means that Sibanye Gold is outperforming the sector as a whole this year.

Looking more specifically, SBSW belongs to the Mining – Miscellaneous industry, which includes 46 individual stocks and currently sits at #116 in the Zacks Industry Rank. This group has gained an average of 29.61% so far this year, so SBSW is slightly underperforming its industry in this area.

Investors in the Basic Materials sector will want to keep a close eye on SBSW as it attempts to continue its solid performance.

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To read this article on Zacks.com click here.

VANCOUVER, BC, April 29, 2021 /CNW/ – Trading resumes in:

Company: Full Metal Minerals Ltd.

TSX-Venture Symbol: FMM

All Issues: No

Resumption (ET): 9:30 AM 4/30/2021

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/April2021/29/c5479.html

Second Set of Results in Line With Homogeneous Pegmatite Showing

TORONTO, April 29, 2021 (GLOBE NEWSWIRE) — Jourdan Resources Inc. (TSXV: JOR) (“Jourdan” or the “Company”) is pleased to announce, further to its press release dated April 22, 2021, the assay results of the second batch (25 samples) of its sampling of the bulk sample, with grades showing of over 1.5% Li₂O. Now that all 47 sample results have been received, these are reported together.

Highlights of Bulk Sample Assays (see Table 1 for additional details)

• Lithium (Li) values of the samples tested were in the range of 6,120 ppm (parts per million) to 8,190 ppm, with an average of 7,212 ppm.

• Lithium oxide (Li₂O) values of the samples tested averaged 1.55% and ranged from 1.31% to 1.76% Li₂O.

• Beryllium values averaged 291 ppm, cesium averaged 7.36 ppm, and niobium averaged 104 ppm.

• The rubidium average in the samples tested was 1,566 ppm, with a tantalum average of 36 ppm, and a barium average of 60 ppm.

Rene Bharti, CEO of Jourdan, stated, “The second set of results validates the high lithium grades provides further confidence in the lithium assets of Jourdan. The Company plans to use the information gathered from the bulk sample to begin preparing for a summer drill program. We anticipate that all of these activities will lead to defining an initial resource estimate at our Vallee property. Jourdan believes that it is on a strong path towards recognizing its goal of being a near term lithium producer in Quebec.”

Jourdan’s Chairman, Dr. Andreas Rompel, stated, “These results represent proof that the bulk sample exhibits very similar results in many individual elements and most importantly in the calculated Li₂O value. This is fantastic evidence that our pegmatite at Vallee is very homogeneous. This in turn is great encouragement to go out this summer and drill these pegmatites to confirm the down-dip grade, and subsequently confirm volume and grade, which we expect will ultimately result in an initial resource estimate.”

Bulk Sampling Assaying

47 samples were taken from the 40-tonne bulk sample, which was retrieved from the Company’s Vallee lithium project site during 2018. Forty of the 50 tonnes retrieved were shipped in a series of 2 tonne sacks to Process Research Ortech Inc. in Mississauga, Ontario (“Ortech”) for metallurgical test work. During the first quarter of 2021, 47 individual samples were taken on two different occasions under the supervision of Jourdan’s personnel at Ortech. In the second sampling exercise reported here, 25 samples were taken from 5 sacks located outside of Ortech’s laboratory. The samples consisted of shovel loads of material. The average sample weight of these samples was 2.7 kgs. The additional 25 samples were sent to AGAT Laboratories in Mississauga, Ontario and were assayed for 58 different elements utilising the sodium peroxide fusion method with an ICP OES or MS finish. The results for lithium were subsequently multiplied by a factor of 2.153 to arrive at a value for Li₂O. The highest grade assayed for the second batch (25 samples) was 1.72% Li₂O, with an average of 1.54% Li₂O, and a standard deviation of 0.08.

Management believes that these results clearly demonstrate the homogeneity of the lithium distribution in the pegmatites situated on the Company’s Vallee lithium property, and management is encouraged to further investigate the strike and down dip extent of these pegmatites.

In addition, the Company is excited to report elevated rubidium values averaging 1,566 ppm.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Stéphane Amireault P.Eng, MScA, an independent consultant that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Table 1

About Jourdan

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine. This mine is part of Contemporary Amperex Technology Co. Limited (CATL), China’s largest automotive battery manufacturer.

For more information:
www.jourdaninc.com
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800

Cautionary statements

The content and grades of any mineral deposits at our Vallee project are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

This press 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 the Company’s ability to undertake a drilling program, to further investigate the downdip grade and confirm the volume and grade at the Vallee lithium project, and to establish a mineral resource, the business and operations of the Company, and the Company’s ability to execute its business plan, including its ambition to become a lithium producer. Generally, forward-looking information 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 statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 such information 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 information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

With the business potentially at an important milestone, we thought we'd take a closer look at Jervois Mining Limited's (ASX:JRV) future prospects. Jervois Mining Limited explores for and evaluates mineral properties in the United States, Brazil, Australia, and Uganda. On 31 December 2020, the AU$361m market-cap company posted a loss of AU$48m for its most recent financial year. Many investors are wondering about the rate at which Jervois Mining will turn a profit, with the big question being “when will the company breakeven?” In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.

View our latest analysis for Jervois Mining

Jervois Mining is bordering on breakeven, according to some Australian Metals and Mining analysts. They anticipate the company to incur a final loss in 2022, before generating positive profits of AU$22m in 2023. So, the company is predicted to breakeven approximately 2 years from now. In order to meet this breakeven date, we calculated the rate at which the company must grow year-on-year. It turns out an average annual growth rate of 63% is expected, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict.

Underlying developments driving Jervois Mining's growth isn’t the focus of this broad overview, but, bear in mind that generally a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments.

One thing we’d like to point out is that The company has managed its capital judiciously, with debt making up 0.08% of equity. This means that it has predominantly funded its operations from equity capital, and its low debt obligation reduces the risk around investing in the loss-making company.

Next Steps:

There are key fundamentals of Jervois Mining which are not covered in this article, but we must stress again that this is merely a basic overview. For a more comprehensive look at Jervois Mining, take a look at Jervois Mining's company page on Simply Wall St. We've also compiled a list of key aspects you should further research:

1. Valuation: What is Jervois Mining worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Jervois Mining is currently mispriced by the market.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Jervois Mining’s board and the CEO’s background.

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

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

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

TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF

VANCOUVER, BC, April 29, 2021 /PRNewswire/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to provide an update on exploration activities at its three most active projects, including the first results from the on-going trenching program at the Esperanza property of the Flecha de Oro gold project, Argentina.

Phase I of the trenching program at Esperanza is focused on a nine square kilometre area where numerous gold-bearing quartz-veins have been identified at surface. Of particular note are results from a single vein, mapped over 540 metres of strike extent, that returned significant gold intervals in two separate trenches located approximately 160 metres apart, including:

• five metres averaging 2.98 g/t gold, including two metres averaging 6.21 g/t gold, in trench TE-10, and;

• one metre interval averaging 5.52 g/t gold in trench TE-6, located 160 metres east, in the same vein (see Figure 1: https://bit.ly/3udLQOw).

Golden Arrow VP Exploration and Development Brian McEwen commented, "We have seen from our previous surface sampling that there is widespread gold in the system at Esperanza, so we are encouraged to find some broader intervals in the near-surface that will help us vector into the heart of the system."

Additional details from the trenching program, as well as other work in progress, are included below. In addition to its exploration programs, Golden Arrow is continuing with its project acquisition efforts by constantly reviewing new opportunities to add to its exploration pipeline.

Flecha de Oro Gold Project, Rio Negro Argentina
The Flecha de Oro Project includes the La Esperanza, Puzzle and Maquinchao exploration properties, consisting of 9,968, 1,952 and 2,000 hectares respectively, in central Rio Negro Province. The Project lies within the Somuncara Massif, where low and high sulphidation gold systems have been explored for since the first discovery of gold in the area in 1995. Examples of similar projects in the area include the Calcatreu low sulphidation gold-silver project located 165 kilometres to the southwest, hosting 746,000 oz of Indicated gold equivalent resources and a further 390,000 oz of Inferred AuEq resourcesⁱ.

At the La Esperanza property, Golden Arrow has identified similarities in size and geologic style to the Cerro Vanguardia district to the south in Santa Cruz province that has produced 4.5 million ounces of goldⁱⁱ, which is now being used as an exploration model.

[Readers are cautioned that results from other companies, including on properties proximal to those controlled by the Company, are not indicative of expected Golden Arrow results, as there has been insufficient exploration on these properties. These facts are simply used to aid in the exploration of these properties.]

Golden Arrow commenced the trenching program at Flecha de Oro in December 2020, with the initial work undertaken at the Puzzle property. Results from the first 10 trenches at Puzzle identified gold in multiple samples over significant widths in several trenches (see Figure 2: https://bit.ly/2R7PpqU), but at grades below the threshold targeted by the Company. As a result, the Esperanza property has been prioritized for on-going exploration. Esperanza hosts multiple vein corridors defined by outcropping quartz veins, boulders and quartz float. The areas sampled by the trenches reported in this news release returned high-grade gold samples in earlier surface sampling programs (see Figure 1, and Company news releases dated March 2, 2020, December 3, 2019 and September 25, 2019).

Since the commencement of trenching at Esperanza on March 1^st, 2021, Golden Arrow has completed 20 trenches totaling 1,693 metres across surface quartz veins and sheeted veinlets that range from a few centimeters to two metres in width. Assays have been received for 10 of these trenches. An additional fifteen trenches are underway, and the Phase I program is expected to continue through most of May. A summary of the results from the first ten trenches is presented in Table 1.

Table 1. Summary of Intervals >1g/t Au from Trenches 1 – 10,
Esperanza target, Flecha de Oro Project.

Rosales Copper Project, Chile
Golden Arrow has awarded Quantec Geoscience Chile Ltda the contract for completing a new Transient Electromagnetic (TEM) surface geophysical survey at the Rosales Copper Project in May. The goal of the program is to detect and delineate prospective electromagnetic conductor responses, consistent with near-surface copper stockwork mineralization, potentially related to Manto-type mineralized copper systems at depth. The program will be executed in two phases:

• An initial test over approximately 300 hectares that includes known copper sulphide mineralization will be conducted and the results assessed to determine if the TEM technique successfully detects the mineralization.

• If successful, a second survey covering approximately 800 hectares will be completed.

Tierra Dorada Gold Project, Paraguay
The planned follow-up drill program at the Alvaro target has been delayed until permits are received that will allow deeper drilling. While it is possible to continue with the shallow (<20m) drill hole program allowed by the existing permit, after further review of the initial shallow drilling results and the new targets identified by the IP geophysical survey (see News Release of January 9, 2021) it was concluded that there was greater benefit to waiting to be able to drill the deeper holes. Granting of permits has been delayed by outbreaks of COVID-19 within several government agencies and elsewhere in Paraguay. In the interim, the Golden Arrow exploration team has commenced a detailed soil sampling program over the new geophysical targets that have no surface outcrop to refine drill targets in those areas. In addition, mapping, trenching and surface sampling programs at the Alvaro target, and regionally throughout the project, are ongoing.

For additional details on the Company's main projects, please visit the website www.goldenarrowresources.com.

Methodology and QA/QC
At the Flecha de Oro project, trenches were opened across the vein width and continued into the host rock on either side. Channel samples were cut along the trench walls with an electric saw and sampled in one-metre intervals. Samples were shipped for preparation and analysis at ALS Laboratories, an internationally recognized assay service provider. Samples were prepared at their facility in Mendoza, Argentina and assayed for gold by Fire Assay/Atomic Absorption finish and analyzed for a multi-element package by ICP-OES following a four-acid digestion at their laboratory in Lima, Peru. The Company follows industry standard procedures for the work carried out on the Flecha de Oro Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted in each batch of samples sent to the laboratory for analysis. Golden Arrow detected no significant QA/QC issues during review of the data.

Qualified Persons

The results of the Company's exploration program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff under the supervision of Brian McEwen, P.Geol., VP Exploration and Development to the Company. Mr. McEwen is a Qualified Person as defined in National Instrument 43-101, and has reviewed and approved the contents of the news release.

About Golden Arrow:

Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is well leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious metals producer SSR Mining Inc.

Golden Arrow is actively exploring a portfolio that includes a new epithermal gold project in Argentina, a district–scale frontier gold opportunity in Paraguay, a base-metal project in the heart of a leading mining district in Chile and more than 180,000 hectares of properties in Argentina.

The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Joseph Grosso"

_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO

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

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

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: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.

View original content to download multimedia:http://www.prnewswire.com/news-releases/golden-arrow-provides-exploration-update-and-reports-trench-results-from-flecha-de-oro-project-argentina-301280332.html

SOURCE Golden Arrow Resources Corporation

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2021) – Lara Exploration Ltd. (TSXV: LRA) ("Lara"), is pleased to report on preliminary metallurgical test work carried out by Blue Coast Research Ltd ("Blue Coast") of Parksville, British Columbia, Canada, on composite samples from across and down through the copper mineralized zone at the Homestead target of the Company's Planalto Copper Project, located in the Carajás region of northern Brazil. The key results are:

• Flotation rougher and cleaner test work has shown that it is possible to achieve a commercial quality copper concentrate, grading 30-33% copper, with recoveries of 85-87%, after a regrind of the rougher concentrate product to 20 microns.

• A locked-cycle test conducted on a master composite with a primary grind of 75 microns achieved a copper recovery of 90% to a final concentrate grade of 29% copper, with very low contents of deleterious elements and halides such as arsenic, antimony, mercury, chlorine and fluorine.

• The test work indicated that a commercial quality chalcopyrite copper concentrate could be achieved using a simple flow sheet with the readily available collector and frothing agents after a primary grind of nominal P80 at 75 microns and a regrind of the flotation concentrate of P80 at 20 microns.

Preliminary metallurgical test work was undertaken on bulk sample composites from the Homestead mineralized zone, comprising approximately 139kg of quartered NQ-size drill core samples, selected from across and down through the disseminated and vein-hosted chalcopyrite mineralized zone. Eighty-one individual drill core samples, ranging from 1m to 2.5m interval length, representing the original half core sample intervals analyzed for copper, were assembled into four bulk samples by Blue Coast: one master composite (PL-3 MC) for the entire deposit and three elevation composites representing the upper (PL-3 U), middle (PL-3 M) and lower (PL-3 L) levels of the mineralized zone. The lower level of mineralization represented in the sample is from approximately 110-170m vertical below the surface. The calculated weighted copper and gold grades for this selection were 0.47% Cu and 0.052 g/t Au, respectively based on the original half core assays. All the samples were of fresh rock, with no material from the weathered zone (near surface to 5-25m depth) included in the tested composites. The average grades for the head samples generated by Blue Coast for each of the four composites are summarised in the following table:

 

The test work conducted by Blue Coast included studies on chalcopyrite liberation, rougher and cleaner flotation and comminution, QEMSCAN mineralogy studies and some trialing of gravity concentration on the final copper concentrate to see if a commercial grade gold-copper concentrate could be attained.

Mineralogical analysis showed chalcopyrite liberation to be 71-73 % at 80% passing 75 microns, whereas with the coarser grind of 106 microns, the liberation was only 55%. A portion of the chalcopyrite has been shown to occur as fine-grained disseminations enclosed in silicate minerals and as such not readily liberated. A total of eight flotation tests were trialed, using different primary grind sizes and different frothing and collector agents to determine the best flow sheet to achieve an optimum copper grade and recoveries into the rougher concentrate. Copper flotation recoveries into the initial cleaner concentrates were found to be low (as low as only 13% Cu), so further testing at the cleaner stage incorporated a regrind step on the rougher concentrate to attain a cleaner flotation concentrate at a commercial copper grade.

Rougher flotation test work indicated that it is possible to attain copper recoveries up to 93% at the nominal primary grind of P80 passing 75 microns. With regrinding of the rougher flotation concentrate, to a nominal P80 of 20 microns, it was possible to obtain cleaner flotation copper concentrates with copper grades between 30-33% copper. The best results of copper recovery were achieved using a simple flow sheet using the readily available collector and frothing agents. Similar results were attained for the three elevation composites indicating a relative uniformity of the mineralization throughout the deposit as was also indicated by the QEMSCAN mineralogy studies on the elevation composites.

One Locked-cycle Test conducted on a sample of the master composite using a primary grind of 75 microns and several stages of regrind achieved a final copper concentrate of 28.9% Cu with an overall recovery of 90% of the copper. The gold and silver contents of the final concentrate are relatively low at 1.79 g/t Au and 27 g/t Ag, respectively. Chemical analyses for deleterious elements and halides in the concentrate showed only low levels of all commonly encountered penalty elements, such as arsenic, antimony, mercury, chlorine and fluorine.

Comminution testing, using a closing screen size of 106 microns for all three elevation samples, has the ore classified as hard, with a Bond Ball Work index average of 19 kWh/tonne metric with a range between 18.5 for the lower level to 20.5 for the middle level composites.

The QEMSCAN mineralogy on a representative sample of the master composite showed the dominant sulphide mineral of interest to be chalcopyrite (1.54 vol %) with only minor presence of pyrite (0.19 vol %). Minor traces of galena, sphalerite and molybdenite were reported. The main gangue minerals are quartz (20%), chlorite (19%), feldspar (18.5%), phlogopite-biotite (10%), feldspathoids (5-6%) and muscovite (5%). Minor calcite and fluorite were recorded.

Trialing of gravity testing on the final concentrate indicated the possibility of producing a separate gold-copper concentrate with over 100g/t Au but more testing is required to determine if this would be a commercially viable option.

Sampling methodology, Chain of Custody, Quality Assurance and Quality Control

The sample collection and dispatch to Belem (Pará State) of the bulk sample was carried out by and under the supervision of the Company's Vice-President Exploration. The sample was air freighted by an international carrier from Belem to Canada. Sample intervals for the individual drill core samples making up the bulk sample varied between 1.0m and 2.5m and were contiguous with the sampling intervals used during the earlier half core drill hole sampling used to determine the composite copper grades for each of the drill holes.

About the Planalto Project

The Planalto Copper Project covers meta-volcano-sedimentary sequences and intrusives of early Proterozoic-age with IOCG-type mineralization, located near Vale's Sossego copper mine and Oz Minerals Antas and Pedra Branca copper mines, in the Carajás Mineral Province of northern Brazil. Lara has a staged earn-in agreement with Capstone Mining Corp., (see Company news release of February 4, 2019 for details), whereby Capstone can earn up to a 70% in the Project by funding exploration, feasibility studies and electing to finance, build and manage a commercial mining operation, with Lara repaying its pro-rata share of the production financing out of cash flow.

About Lara Exploration

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

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

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81953

VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) is pleased to report 2021 first quarter production of underground development material from the Juanicipio Project (56% / 44% joint venture between Fresnillo plc (“Fresnillo”) and MAG Silver). As reported to MAG by the project operator Fresnillo, 36,395 tonnes of development material were processed during the quarter ended March 31, 2021. On a 100% basis, total production for the quarter based on provisional estimates before liquidation adjustments from the prior quarter, totaled 462,321 silver ounces and 697 gold ounces (attributable to MAG: 203,421 ounces of silver and 307 ounces of gold). The associated lead and zinc production will be reported with MAG’s first quarter filings.

The development material is being processed through the nearby Fresnillo processing plant (100% owned by Fresnillo) with the lead (silver rich) and zinc concentrates treated at market terms under off-take agreements with Met-Mex Peñoles, S.A. de C.V. in Torreón, Mexico. The revenue from this production, net of processing and treatment charges, will be used by the joint venture to offset initial project capital cash requirements.

“We’ve now successfully milled approximately 108,000 tonnes of development material at the Fresnillo plant since early August of 2020 generating cash-flow to help offset capex, gaining valuable metallurgical understanding, and providing confidence for the high stope grades expected once full scale mining production commences,” said George Paspalas, MAG Silver’s President and CEO. “We’ll continue to see these benefits through to Q4 2021 when we transition to the Juanicipio processing facility.”

Project development and construction of the Juanicipio processing plant is making good progress at site, with the plant still expected to commence commissioning in Q4-2021 according to Fresnillo, the operator. Mineralized material from development will continue to be batch processed on commercial terms at a targeted rate of 16,000 tonnes per month at the Fresnillo plant until the Juanicipio plant is commissioned. Construction photos are available at https://magsilver.com/projects/photo-gallery/#photo-gallery.

Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 38 years of relevant experience focused on ore deposit exploration worldwide. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent as he is Chief Exploration Officer and a Shareholder of MAG.

About MAG Silver Corp. (www.magsilver.com )

MAG Silver Corp. (MAG: TSX / NYSE A) is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed in a Joint Venture partnership with Fresnillo Plc (56%), the Operator. Juanicipio is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, and the Joint Venture is currently developing an underground mine and constructing a 4,000 tonnes per day processing plant which is expected to commence commissioning in Q4-2021. Underground mine production of development material commenced in Q3-2020, and an expanded exploration program is in place targeting multiple highly prospective targets both at Juanicipio by the Joint Venture and by MAG at the Deer Trail 100% earn-in project in Utah.

This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG 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. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the Company’s filings with the SEC and Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.

Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov LEI: 254900LGL904N7F3EL14

CONTACT: For further information on behalf of MAG Silver Corp. Contact Michael J. Curlook, VP Investor Relations and Communications Phone: (604) 630-1399 Toll Free:(866) 630-1399 Website: www.magsilver.com Email: info@magsilver.com

(Adds details from ruling, reaction from company and environmental groups)

By Ernest Scheyder

April 28 (Reuters) – The Minnesota Supreme Court on Wednesday ordered state regulators to reconsider some permits needed by PolyMet Mining Corp to build an open-pit copper mine in the state's rural north, handing a win to environmentalists and delaying the project.

The ruling from the state's top court comes as the United States tries to produce more metals used in the manufacture of electric vehicles, which use twice as much copper as those with internal combustion engines.

Those efforts have had mixed results, with proposed mines for lithium, copper and other EV metals under increasing scrutiny across the country.

The Minnesota court ordered the state's Department of Natural Resources to hold contested case hearings, which are akin to trials, for two permits needed for the $1 billion project, located in the state's Iron Range, about 200 miles (322 km) north of Minneapolis.

The court said regulators must reexamine the effectiveness of PolyMet's plans to line the mine's tailings dam waste rock storage facility with bentonite clay to prevent toxins from leaking.

The court also ordered regulators to set a fixed term for PolyMet's permit to mine, which had been granted initially without an end date. Justices narrowly tailored their ruling, rejecting a request to force new hearings for other mine permits.

PolyMet Chief Executive Jon Cherry said the ruling was a "big win" for the company. "We continue to review the decision and will have more to say about our path forward in due course," he added.

Shares of St. Paul, Minnesota-based PolyMet fell about 1.4% to $3.66 after the ruling. Mining giant Glencore Plc is the company's largest shareholder.

The Minnesota Center for Environmental Advocacy, one of the groups that brought the lawsuit, also praised the decision and said the state's Democratic governor, Tim Walz, should now "make better decisions and protect Minnesotans and the water they depend on." (Reporting by Ernest Scheyder; Editing by Leslie Adler)

MONTREAL, April 28, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce that a major re-assaying program was initiated recently for the Cheechoo gold project, Eetou Istchee James Bay, Quebec. Several thousand core samples used to define the Cheechoo gold deposit may be re-assayed using the “LeachWELL” process (cyanide bottle roll leach) on one kilogram of material per sample. To date, 643 samples have been sent to the AGAT and Actlabs laboratories.

This program results from a statistical analysis conducted by Sirios’ geologists showing that the gold grade is generally higher and more representative when the sample weight is greater than the 50 grams normally used in laboratory. This relationship between the measured gold grade and the size of the assayed sample is typical of the “nugget effect” and was confirmed by previous mineralogical and metallurgical studies.

Dominique Doucet, founder and CEO of Sirios, stated: "Based on the results of the re-sampling program, we believe that the average gold grade of the Cheechoo deposit will improve. The drilling program that will be carried out this summer and the re-assaying program will increase the quality of the Cheechoo deposit and possibly the average gold grade. "

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo., Senior Geologist, Qualified Persons as defined by NI 43-101.

About the Cheechoo Property

The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.¹

About Sirios

A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while actively exploring for the gold potential of its other properties.

Forward-Looking Statements:

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; 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 at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
ddoucet@sirios.com
website : www.sirios.com

____________________________
¹ BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

We can readily understand why investors are attracted to unprofitable companies. For example, Venture Minerals (ASX:VMS) shareholders have done very well over the last year, with the share price soaring by 507%. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

So notwithstanding the buoyant share price, we think it's well worth asking whether Venture Minerals' cash burn is too risky. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

Check out our latest analysis for Venture Minerals

When Might Venture Minerals Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In December 2020, Venture Minerals had AU$3.7m in cash, and was debt-free. Importantly, its cash burn was AU$4.3m over the trailing twelve months. Therefore, from December 2020 it had roughly 10 months of cash runway. That's quite a short cash runway, indicating the company must either reduce its annual cash burn or replenish its cash. You can see how its cash balance has changed over time in the image below.

How Is Venture Minerals' Cash Burn Changing Over Time?

Although Venture Minerals had revenue of AU$60k in the last twelve months, its operating revenue was only AU$10k in that time period. We don't think that's enough operating revenue for us to understand too much from revenue growth rates, since the company is growing off a low base. So we'll focus on the cash burn, today. With the cash burn rate up 7.6% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Venture Minerals makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

Can Venture Minerals Raise More Cash Easily?

While its cash burn is only increasing slightly, Venture Minerals shareholders should still consider the potential need for further cash, down the track. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of AU$106m, Venture Minerals' AU$4.3m in cash burn equates to about 4.1% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

How Risky Is Venture Minerals' Cash Burn Situation?

On this analysis of Venture Minerals' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Venture Minerals (of which 3 make us uncomfortable!) you should know about.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)

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.

TSX Venture Exchange: NEV

VANCOUVER, BC, April 28, 2021 /CNW/ – Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the "Company") (TSXV: NEV) is pleased to report that its joint venture partner, New Placer Dome Gold Corp. ("New Placer Dome") (TSXV: NGLD) has provided assay results for the final thirteen drill holes completed during 2020 at the Kinsley Mountain Gold Project ("Kinsley Mountain") located near Wendover, Nevada. Nevada Sunrise holds a 20.01% interest in the Kinsley Mountain joint venture, with New Placer Dome, as operator, holding a 79.99% interest.

The 2020 Kinsley Mountain reverse circulation ("RC") and diamond drill campaign was completed in November 2020 and comprised 49 drill holes totaling 17,970 metres (58,957 feet) testing five target areas within the greater resource area, which consisted of 39 RC holes for 13,610 metres (44,652 feet) and 10 diamond drill holes for 4,360 metres (14,305 feet), with 3 holes abandoned and re-drilled from the same locations. New Placer Dome reports that results of the 2020 drilling warrant further drilling in 2021 to build on multiple new discoveries and potentially increase the current indicated and inferred resources at the Western Flank Zone, Main Pit North Oxide and Secret Spot targets.

Drilling at the Secret Spot has yielded a new discovery of near-surface oxide gold mineralization, in addition to new, deeper high-grade sulphide gold intercepts. Diamond drill hole KMD20-006 testing across the Transverse fault intersected a total of four separate mineralized intervals, including multiple oxide gold zones from surface within Dunderberg shale and the highest-grade interval to date within the Secret Canyon shale at the Secret Spot.

Highlights include:

• 1.76 grams/tonne gold ("g/t Au") (oxide) over 18.9 metres ("m") from surface, including 4.46 g/t Au (oxide) over 6.1 m in KMD20-006 at Secret Spot (Figure 1, and Table 1);

• 3.81 g/t Au (sulphide) over 11.6 m from 486.2 m to 497.7 m, including 11.3 g/t Au (sulphide) over 2.9 m in KMD20-006 at Secret Spot (Figure 2);

• 1.77 g/t Au gold (oxide) over 25.3 m, including 2.75 g/t Au over 10.1 m in KMD20-07B at Secret Spot (Figure 1);

• 0.79 g/t Au (oxide) over 39.8 m in KMD20-008 at Secret Spot (Figure 1);

• 0.53 g/t Au (sulphide) over 19.8 m in KMD20-003 at the Western Flank Zone (Figure 3);

• 0.64 g/t Au (oxide) over 10.7 m in KMR20-029 at the Main Pit North shallow oxide target (Figure 4).

Key Points:

• New Discovery at Secret Spot includes multiple at or near surface Dunderberg shale-hosted oxide gold drill intercepts that warrant follow-up drilling;

• Secret Canyon shale gold (sulphide) intercepts within KMD20-006 represent the highest-grade interval to date at Secret Spot; illustrating the potential of the Secret Spot target to yield high grade gold mineralization similar in tenor to the Western Flank Zone resource located 1.5 kilometres to the north;

• At Western Flank, discovery of a broad zone of within-pit Hamburg limestone-hosted gold (sulphide) mineralization within drill hole KMD20-003 on the southeast margin of the resource is open to expansion in all directions.

Table 1. Kinsley Mountain Gold Project – 2020 Significant Drill Intercepts

Drill holes KMD20-001 (-70/060), KMD20-002 (-72/037), KMD20-004 (-78/083), and KMD20-005 (-80/083) targeting the Western Flank Extension did not intersect significant mineralization. Drill holes KMR20-035 (-80/122), KMR20-036 (-85/020), and KMR20-037 (-82/250) targeting the Transverse fault at Shale Saddle also did not intersect significant mineralization.

Methodology and QA/QC

Assaying was performed by ALS Global ("ALS"), of Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of New Placer Dome, Nevada Sunrise, and their respective Qualified Persons. RC drill samples were subject to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay analysis with atomic absorption spectroscopy ("AAS") finish, in addition to 51 element ICP-MS. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au are also subject to leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.

As operator at Kinsley Mountain, New Placer Dome follows industry standard procedures for the work carried out the Project, with a quality assurance/quality control ("QA/QC") program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. New Placer Dome detected no significant QA/QC issues during review of the data. Nevada Sunrise is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr., CPG, RG, SME and a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Allender has examined the information provided by New Placer Dome, which includes his review of the sampling, analytical and test data and procedures underlying the information and opinions contained herein.

About Nevada Sunrise

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

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

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

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

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

FORWARD LOOKING STATEMENTS
This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to the interpretation and actual results of historical production at Kinsley Mountain, reliance on technical information provided by third parties on any of our exploration properties, including access to historical information on the Kinsley Mountain property as well as specific historical data associated with drill results from the property, information received from New Placer Dome Gold Corp., current exploration and development activities; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; failure of New Placer Dome Gold Corp. to complete anticipated work programs; labor disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Three Months ended December 31, 2020, which is available under Company's SEDAR profile at www.sedar.com.

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

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

SOURCE Nevada Sunrise Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/28/c4218.html

(Expressed in United States dollars except where otherwise indicated)

MONTREAL, April 27, 2021 (GLOBE NEWSWIRE) — (TSXV: GMN) GobiMin Inc. (“GobiMin” or the “Company”, together with its subsidiaries collectively the “Group”) reports its financial results for the year ended December 31, 2020.

Financial Highlights

Note:
(1) As non-IFRS measurements, LBITDA (loss before interest income and expense, income taxes, depreciation and amortization), LBITDA per share and Cash and cash equivalents per share do not comply with IFRS and, therefore, the amounts presented in the above table may not be comparable to similar data presented by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Business Summary and Development

1. Gold Project in Xinjiang

The Company owns a 70% equity interest in Xinjiang Tongyuan Minerals Limited which holds Sawayaerdun Gold Project (“Gold Project”) in Xinjiang. Its exploration licence had been renewed with expiry date on August 22, 2021. Its mining licence expired on December 23, 2019 and the renewal process involved multiple approval levels. The application procedures were delayed attributable to the work piled in government authorities during the COVID-19 pandemic and additional time required for finalizing the resources assessment report on the Gold Project prepared by an independent valuer. As at December 31, 2020, approval from the Department of Natural Resources of both the county and prefecture levels were received. As at the date of hereof, the renewal application was approved by the Department of Natural Resources of Xinjiang Uyghur Autonomous Region after submission of related geological documents and the land rehabilitation report. The renewal application of the mining licence will be processed pending the determination of the reserve assessment amount and payment for the related fee based on the assessment.

The on-site industrial test on applying bio-tech methodology on extraction of metals from large-scale samples of gold ores was affected by the COVID-19 pandemic during the year under review. Due to reduction of social contact and transportation restrictions, the progress of the industrial test was delayed by the inadequacy of technical manpower and test materials, especially sulphuric acid. By virtue of recurrence of infections during this year, the test site had conducted closed-off management several times. Therefore, professional researchers of the Research Institute were not able to return to Xinjiang on time and had to rely on remote working for nearly three months to give guidance on our industrial test. In addition, delivery of ore samples to the Research Institute was disrupted, analysis of which had to be conducted by local labs. Based on the analysis of the samples collected in July 2020, the cultured bacteria were found active in the ore heap which indicated the pre-oxidation of ores has gone well. Additional samples were also collected in November 2020, the analysis results show that the iron and arsenic content in the ores decreased after the pre-oxidation process which indicate that arsenic and iron in the ore sample is successfully removed by oxidation. Moreover, the acid spray and other on-site works were suspended during the winter, and has resumed since late March 2021. After the pre-oxidation stage and subject to the analysis result of the samples, the industrial test would enter the final stage of immersion gold process probably in the second half of 2021.

For the year ended December 31, 2020, there were addition of $0.2 million in the exploration and evaluation assets. As at December 31, 2020, the Group had a contractual commitment of $1.6 million for the future development of the Gold Project.

2. Financial Assets

(i) Listed Securities

As at December 31, 2020, the fair value of listed securities held by the Group amounted to $0.2 million (2019: $0.1 million) which mainly included $0.1 million (2019: $11,000) investment in listed stock, futures and options trading through registered brokerage firms in Hong Kong and $0.1 million (2019: $0.1 million) for a stock listed in Canada. For the year ended December 31, 2020, the gain on disposal of listed securities amounted to $0.2 million (2019: $0.5 million) and fair value gain was $15,000 (2019: $0.9 million).

(ii) Unlisted Investments

The Group holds 670,000 shares of Dragon Silver Holdings Limited (“Dragon Silver”) representing 9.90% of its total issued capital at an investment cost of $1.1 million (HK$8,710,000). Dragon Silver is a Hong Kong based company mainly engaged in trading, production, processing and investment in precious metals and non-ferrous metals and related products.

Pursuant to the subscription agreement dated December 29, 2017, the guarantor of the agreement irrevocably guaranteed to the Group that (i) the audited net profit after tax of Dragon Silver shall not be less than $1,926,233 (HK$15,000,000) for each of the financial years ending from June 30, 2018 to 2022; and (ii) the amount of dividends declared and paid by Dragon Silver during each of the financial years ending from June 30, 2018 to 2022 shall not be less than $0.16 (HK$1.25) per share (“Dividend Guarantee”). On April 17, 2020, the Group agreed with Dragon Silver to waive the profit guarantee for the years ended June 30, 2019 and 2020. In October 2020, the guarantor paid to the Group the Dividend Compensation Amount of $0.1 million for the financial year ended June 30, 2020. The carrying value of the investment together with the Dividend Guarantee, the related profit guarantee and put option as at December 31, 2020 was $1.3 million (2019: $1.4 million) and the Group recognized a fair value loss on financial asset of $0.1 million (2019: $0.2 million).

As at December 31, 2020, other unlisted investments held by the Group amounted to $0.3 million (2019: $0.2 million). During the year under review, the fair value gain on other unlisted investments was $18,000 (2019: $3,000).

(iii) Debentures and Certificate of Deposit

The Group would hold debentures and certificate of deposit bearing low risks and reasonable interest return from various industries through the open market. Debentures are held to receive coupon interest payments as well as to realize potential gains. The Group may dispose of debentures through the open market when the Group requires funds for operational or other investment needs.

As at December 31, 2020, the Group held debentures of $2.7 million (2019: $4.6 million) with coupon rates ranged from 4.250% to 7.375% (2019: 4.250% to 7.750%) per annum and maturities ranged between May 31, 2021 and perpetual (2019: January 17, 2020 and perpetual). For the year ended December 31, 2020, the interest income on debentures and certificate of deposit was $0.2 million (2019: $0.3 million) and fair value loss was $13,000 (2019: gain of $0.2 million) respectively.

3. Investment Properties

As at December 31, 2020, the investment properties in Shenzhen with carrying amount of $3.1 million (2019: $3.1 million) was higher than the estimated fair value of $2.0 million and therefore an impairment loss on investment properties of $1.1 million was recognized for the year ended December 31, 2020 (2019: nil).

4. Liquidity and Capital Resources

As at December 31, 2020, working capital of the Group was amounted to about $21.3 million (2019: $21.3 million), by netting off its current assets of $23.8 million (2019: $23.8 million) with current liabilities of $2.5 million (2019: $2.5 million). Taking into account of its financial position, the management of the Group considered that its cash and cash equivalents will be more than sufficient to finance its operation, including the contractual commitments of the Gold Project of approximately $1.6 million.

For further information, please contact:

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management of GobiMin. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. Forward looking information includes without limitation, statements regarding the size and quality of the Company’s mineral resources, progress in development of mineral properties, the prospective mineralization of the properties, and planned exploration programs. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and GobiMin assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.

“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.”

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Vancouver, British Columbia–(Newsfile Corp. – April 27, 2021) –  Lara Exploration Ltd. (TSXV: LRA) ("Lara"), is pleased to report the receipt of additional drill results from partner Hochschild Mining plc., for Lara's Corina Gold Project in southern Peru. Hochschild reported completion of 2,095 metres of diamond drilling in Q1-2021, with a further 2,000m planned for Q2. Significantly mineralized intercepts have been released for two of the holes from the Q1-2021 drilling, which are summarized in the table below:

 

The reported intercepts are close to, but do not necessarily represent true widths.

The Corina Gold Project covers part of a belt of Tertiary-age volcanic rocks in southern Peru that also host Hochschild's Pallancata and Immaculada mining operations and past producer Selene, with Lara's project located approximately 15km north (approximately 25km by road) of the mill at Selene, which processes ore from the Pallancata mine.

Hochschild has the option to purchase the Corina Project from Lara by making staged cash payments totalling US$4,150,000 of which US$650,000 has been paid to date, with the next installment of US$1,000,000 due in July 2021. Hochschild also has the obligation to pay a 2% net smelter return royalty on any production (see Company news release of June 23, 2014 for details).

Drilling Data, QAQC and Qualified Person

Drilling is being supervised by Hochschild's brownfields technical team, based at the Pallancata Mine. The Q1-2021 drill holes reported here generated 399 core samples, which were submitted for analysis at Hochschild's internal laboratory at the Selene Plant nearby, along with a total of 87 QAQC reference samples (blanks, standards and duplicates).

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

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

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81784

Natural Resource Partners L.P. (NYSE: NRP) plans to report its first quarter 2021 financial results before the market opens on Thursday, May 6, 2021. Management will host a conference call beginning at 9:00 a.m. ET to discuss the results.

To register for the conference call please use this link https://www.incommglobalevents.com/registration/client/7437/natural-resource-partners-lp-first-quarter-2021-earnings-call/. After registering, a confirmation will be sent via email and include dial in details and unique conference call codes for entry. Registration is open through the live call, however, to ensure you are connected for the full conference call we suggest registering a day in advance or at minimum 10 minutes before the start of the call. Investors may also listen to the conference call live via the Investor Relations section of the NRP website at www.nrplp.com.

Audio replays of the conference call will be available on the Investor Relations section of NRP’s website.

Company Profile

Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a natural resource company that owns, manages and leases a diversified portfolio of mineral properties in the United States, including interests in coal, industrial minerals and other natural resources, and owns an equity investment in Ciner Wyoming, a trona/soda ash operation.

For additional information please contact Tiffany Sammis at 713-751-7515 or tsammis@nrplp.com. Further information about NRP is available on the partnership’s website at http://www.nrplp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210427006105/en/

Contacts

Tiffany Sammis
713-751-7515
tsammis@nrplp.com

Just because a business does not make any money, does not mean that the stock will go down. By way of example, New Age Exploration (ASX:NAE) has seen its share price rise 733% over the last year, delighting many shareholders. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

In light of its strong share price run, we think now is a good time to investigate how risky New Age Exploration's cash burn is. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for New Age Exploration

How Long Is New Age Exploration's Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. In December 2020, New Age Exploration had AU$3.7m in cash, and was debt-free. Looking at the last year, the company burnt through AU$1.4m. That means it had a cash runway of about 2.6 years as of December 2020. Arguably, that's a prudent and sensible length of runway to have. Importantly, if we extrapolate recent cash burn trends, the cash runway would be noticeably longer. You can see how its cash balance has changed over time in the image below.

How Is New Age Exploration's Cash Burn Changing Over Time?

While New Age Exploration did record statutory revenue of AU$18k over the last year, it didn't have any revenue from operations. To us, that makes it a pre-revenue company, so we'll look to its cash burn trajectory as an assessment of its cash burn situation. Over the last year its cash burn actually increased by 32%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. New Age Exploration makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can New Age Exploration Raise More Cash Easily?

Given its cash burn trajectory, New Age Exploration shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

New Age Exploration's cash burn of AU$1.4m is about 4.9% of its AU$29m market capitalisation. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

How Risky Is New Age Exploration's Cash Burn Situation?

As you can probably tell by now, we're not too worried about New Age Exploration's cash burn. For example, we think its cash runway suggests that the company is on a good path. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. Looking at all the measures in this article, together, we're not worried about its rate of cash burn, which seems to be under control. On another note, New Age Exploration has 5 warning signs (and 2 which are a bit unpleasant) we think you should know about.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)

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.

C$1,000,000 NON-BROKERED PRIVATE PLACEMENT

VANCOUVER, BC / ACCESSWIRE / April 27, 2021 / Bitterroot Resources Ltd. (TSXV:BTT) has received assays for the third mineralized drill hole (LM 21-10) of the 2021 winter drilling program at the LM nickel-copper-PGM project in the Upper Peninsula of Michigan. Hole LM 21-10 intersected an estimated true thickness of 2.3 metres of disseminated and blebby sulphide mineralization, grading 0.93% nickel and 0.77% copper. A basal 0.18-metre-thick interval of semi-massive sulphides at the lower contact of the intrusion grades 2.74% nickel and 0.43 % copper, once again confirming the high metal tenor of the sulphides. The mineralization occurs mainly as chalcopyrite, pentlandite and pyrrhotite blebs and clasts. Assays of the mineralized intervals are provided in the table below. A 3-dimensional model of the drill holes, photos of the mineralized core samples and an updated slide presentation are posted on www.bitterrootresources.com.

LM 21-10

Hole LM 21-10 intersected the sulphide-bearing mineralized interval some 50 metres east of the mineralization intersected in LM 20-01 and 70 metres northeast of the mineralization intersected hole LM 21-07. All three mineralized intervals occur at approximately the same elevation, where the keel of the conduit appears to be sub-horizontal.

The final hole of the winter drilling program was hole LM 21-11, which exited the intrusion approximately 15 metres above the elevation of the mineralized keel. Hole LM 21-09 was re-entered but crews were not able to advance the hole due to faulting.

Drilling is expected to resume in late May, to test for extensions of the highest-grade mineralization intersected so far in hole LM 21-07.

Exploration and land acquisition of the LM Project is being funded by Bitterroot Resources Ltd. (51%) and privately-owned joint venture partner Below Exploration Inc. (49%).

PRIVATE PLACEMENT
Bitterroot Resources Ltd.'s management will conduct a non-brokered private placement and issue up to 10,000,000 units priced at C$0.10, consisting of one common share and one half of a common share purchase warrant exercisable at C$0.20 for two years. The proceeds will be used for drilling at the LM Property, exploration on the Company's gold projects in Nevada and for general working capital.

This news release does not constitute an offer or solicitation to sell any of these securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended ("the US Securities Act"), or under any State securities laws. The securities may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S Securities Act and applicable State securities laws, or unless an exemption from such registration is available.

Mr. Glenn W. Scott, CPG, is the Qualified Person responsible for the technical content of this release. Mr. Nickolas Dudek, P.Geo, of C.J. Greig & Associates Ltd. is the Qualified Person responsible for the 3-dimensional modelling of the drill hole data.

Quality Assurance/Quality Control
Bitterroot Resources Ltd. used ALS Canada Ltd. ("ALS") for geochemical analyses and assaying. ALS is a global leader in analytical services. The samples were analyzed at ALS's secure, ISO 17025-certified laboratory in North Vancouver, BC, Canada, by 33-element four acid leach and Fire Assay, both with ICP-AES finish.

Analytical quality assurance and quality control (QA/QC) confirming the accuracy of the 23 analyses were performed by ALS using one standard sample and two blanks.

Core samples were transferred on a daily basis from the drill site to Bitterroot's secure core storage and logging facility. After leaving the drill site, core samples were in the custody of Bitterroot's personnel or in secure storage. The two (2)-inch (5 cm)-diameter NQ-sized drill core was cut with a rock saw. Half of the core was shipped to ALS for sample preparation and analysis and half retained. The samples were tagged, bagged and boxed by Bitterroot personnel and shipped via courier to ALS in North Vancouver, B.C.

ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Director

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

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

Contact Information:
Suite 206-B, 1571 Bellevue Avenue,
West Vancouver, BC, V7V 1A6
Tel: (604) 922-1351
www.bitterrootresources.com

SOURCE: Bitterroot Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/642419/Bitterroot-Resources-Intersects-Additional-Nickel-Copper-PGM-Mineralization

VANCOUVER, British Columbia, April 26, 2021 (GLOBE NEWSWIRE) — Aton Resources Inc. (AAN: TSX-V) ("Aton" or the "Corporation") is pleased to announce that, further to its news release of April 12, 2021, it has settled a total of CAD$116,348.49 in debt (the “Debt”) to directors and employees in exchange for 484,785 common shares (the “Shares”) at a price of $0.24 per Share (the “Shares for Debt Transaction”).

Certain of the Shares for Debt Transactions are “related party transactions” under applicable securities laws, as directors Bill Koutsouras, Tonno Vahk, and Anthony Clements, and former director David Laing (collectively the “Insiders”), participated in the Shares for Debt Transaction. Each of the Insiders abstained from voting on the resolution approving the Shares for Debt Transaction that related to him. Each of these Shares for Debt Transactions is exempt from the formal valuation and minority approval requirements under Multilateral Instrument 61-101, as neither the value of the shares issued to, nor the aggregate debt settled with respect to, any directors of the Company in connection with the Shares for Debt Transactions will exceed 25% of the Company’s market capitalization on the date hereof.

All Shares issued will be subject to a four-month hold period, expiring August 24, 2021, and no new control person will be created as a result of the Shares for Debt Transactions.

About Aton Resources Inc.

Aton Resources Inc. (AAN: TSX-V) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”), located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s world-class Sukari gold mine. Aton has identified numerous gold and base metal exploration targets at Abu Marawat, including the Hamama deposit in the west, the Abu Marawat deposit in the northeast, and the advanced Rodruin exploration prospect in the south of the Concession. Two historic British gold mines are also located on the Concession at Sir Bakis and Semna. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of a variety of styles of precious and base metal mineralisation. Abu Marawat is 447.7 km² in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity, as are the international airports at Hurghada and Luxor.

For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:

BILL KOUTSOURAS

Interim CEO
Tel: +1 345 525 2512
Email: info@atonresources.com

Note Regarding Forward-Looking Statements

Some of the statements contained in this release are forward-looking statements. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

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

Highlights:

• PBM-118 intersected 7.77m of 5.55% copper equivalent (CuEq) comprising of 3.30% copper, 0.72 g/t gold, 7.48 g/t silver and 4.42% zinc;

• PBM-121 intersected 7.55m of 5.01% CuEq consisting of 4.13% copper, 0.64 g/t gold, 11.08 g/t silver and 0.90% zinc;

• Intersection in PBM-121 is located 405m below surface and a 257m step-out above the most recent high-grade intersection announced at the Rainbow Deposit; and

• Surface IP and EM surveys currently underway to cover 3.2 kms of trend that hosts the Rainbow Deposit and Centennial Mine.

VANCOUVER, BC, April 26, 2021 /CNW/ – Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) is pleased to announce that it has more than doubled the vertical extent of the Rainbow Deposit (the "Rainbow") by extending the high-grade copper, gold, silver and zinc deposit 257m closer to surface. The Rainbow is located at the 100% owned Pine Bay Project within a mineral lease, less than 250m from a high-voltage hydroelectric power-line and 550m from a historic shaft with direct road access to processing facilities in Flin Flon, MB (Pine Bay Plan View).

Drill hole PBM-121 intersected 7.55m of 5.01% copper eq consisting of 4.13% copper, 0.64 g/t gold, 11.08 g/t silver and 0.90% zinc (Rainbow Long Section). The high-grade intersection in PBM-121 is located 257m vertically above PBM-113-W2, the last reported intersection in the Rainbow, and 101m vertically above PBM-118 (Rainbow Cross Section). Drill hole PBM-118 intersected 7.77m of 5.55% CuEq comprising of 3.30% copper, 0.72 g/t gold, 7.48 g/t silver and 4.42% zinc at a vertical depth of 505m.

Max Porterfield, President and CEO, stated, "We are excited to see the Rainbow expand closer to surface with the high-grade copper intersections announced today." Mr. Porterfield continued, "The Rainbow Deposit has the potential to be accessible by a ramp which in turn would translate to a more attractive development plan."

The Company has now defined the vertical extent of the Rainbow to the 405 meter level (ml) from the 662 ml that had been drilled prior to the 2021 drilling campaign. The previous step-out hole drilled into the Rainbow, PBM-113-W2, (Orange Zone) intersected 5.70m of 4.72% CuEq (3.57% Cu, 0.54 g/t Au, 21.41 g/t Ag and 1.56% Zn) (See News Release Dated January 21, 2021).

Currently, two rigs continue operating to expand the Rainbow closer to surface and at depth. Since the Company resumed drilling in mid February, 9 holes have been completed (3 holes abandoned) for a total of 7,600 meters out of a 30,000 meter budgeted drill program. Callinex will continue to provide results on an ongoing basis for the duration of the 2021 drilling campaign.

In addition, the Company has commenced two deep penetrating geophysical surveys along the trend that hosts the Rainbow and Sourdough deposits as well as the past producing Centennial Mine (Pine Bay Geophyiscal Grids). An induced polarization ("IP") survey is being completed by Abitibi Geophysics using their proprietary OreVision IP system, which can reveal targets at four times the depth of conventional IP. The Rainbow Deposit was discovered by utilizing the OreVision IP system as a critical vectoring tool. The objective of the survey is to detect pyrite-rich mineralization that may host high-grade copper and zinc up to depths of 580m along the favorable volcanogenic massive sulphide ("VMS") trend that hosts the known deposits. The 24 km IP Survey, currently underway, will span a linear 3.2 km north-south trend with line widths up to 1.4 km at 150m spacing.

Koop Geotechnical is in the process of completing a 13.4 line km deep penetrating surface pulse electromagnetic survey ("SPEM") that will cover an additional 10 km of the Rainbow trend to the south.

The Company also announces that it has extended the expiry date of 170,000 stock options from August 8, 2021 to August 8, 2026. The options continue to be exercisable at a price of $3.80 per share.

Table 1: Pine Bay Drill Results

Notes(1)(2)(3)(4):

J.J. O'Donnell, P.Geo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information in this news release.

Figure 1: Flin Flon Mining District Region Overview

Figure 2: Plan View of 2021 Drilling Rainbow Discovery at the Pine Bay Project

Figure 3: Pine Bay Long Section Looking West with 2021 Drilling

Figure 4: Pine Bay Cross Section Looking North with 2021 Drilling

Figure 5: Pine Bay 2021 Surface IP and EM Grids

QA / QC Protocols
Individual samples were labeled, placed in plastic sample bags, and sealed. Groups of samples were then placed in security sealed bags and shipped directly to SGS lab in Vancouver, BC for analysis. Samples were weighed then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 250g pulverized split. 35 elements including copper, zinc, lead and silver assays were determined by Aqua Regia digestion with a combination of ICP-MS and ICP-AES finish, with over limits rerun using an ore grade analysis (two acid digest ICP-AES). Gold was analyzed by fire assay. Specific gravity (sg) measured for each sample using the pycnometer and water and air method. QA/QC included the insertion and continual monitoring of numerous standards, blanks, and duplicates.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by the rapidly expanding Rainbow Discovery at its Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Additionally, Callinex has emerging near-surface silver discoveries at its Nash Creek Project located in the Bathurst Mining District of New Brunswick. A 2018 PEA on the Company's Bathurst projects outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax).

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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

View original content to download multimedia:http://www.prnewswire.com/news-releases/callinex-intersects-7-55m-of-5-01-copper-eq-in-257m-vertical-step-out-from-the-rainbow-deposit-in-the-flin-flon-mining-district-mb-301276678.html

SOURCE Callinex Mines Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/26/c9040.html

Shares of the coal miner caved following earnings, even though the master limited partnership reinstated its distribution.