For Immediate Release

Chicago, IL – October 20, 2021 – Stocks in this week’s article are Foot Locker, Inc. FL, Hibbett, Inc. HIBB, Group 1 Automotive, Inc. GPI, Teck Resources Limited TECK and Encompass Health Corporation EHC.

Buy These 5 Best Value Stocks to Make the Most of P/B Ratios

Price to earnings (P/E) and price to sales (P/S) are the first ratios that come to an investor’s mind while narrowing down a list of undervalued stocks. However, the price-to-book ratio (P/B ratio), though underrated, is also an easy-to-use valuation tool for identifying low-priced stocks with high-growth prospects.

P/B ratio is calculated as below:

P/B ratio = market capitalization/book value of equity.

What’s Book Value?

There are several ways by which book value can be defined. Book value is the total value that would be left over, according to the company’s balance sheet, if it goes bankrupt immediately. In other words, this is what shareholders would theoretically receive if a company liquidates all its assets after paying off all its liabilities.

It is calculated by subtracting total liabilities from the total assets of a company. In most cases, this equates to common stockholders’ equity on the balance sheet. However, depending on the company’s balance sheet, intangible assets should also be subtracted from total assets to determine book value.

Understanding P/B Ratio

By comparing the book value of equity to its market price, we get an idea of whether a company is under- or overpriced. However, like P/E or P/S ratio, it is always better to compare P/B ratios within industries.

A P/B ratio of less than one means that the stock is trading at less than its book value, or the stock is undervalued and therefore a good buy. Conversely, a stock with a ratio greater than one can be interpreted as being overvalued or relatively expensive.

For example, a stock with a P/B ratio of 2 means that we pay $2 for every $1 of book value. Thus, the higher the P/B, the more expensive the stock.

But there is a caveat. A P/B ratio less than one can also mean that the company is earning weak or even negative returns on its assets, or that the assets are overstated, in which case the stock should be shunned because it may be destroying shareholder value. Conversely, the stock’s price may be significantly high — thereby pushing the P/B ratio to more than one — in the likely case that it has become a takeover target, a good enough reason to own the stock.

Moreover, the P/B ratio isn't without limitations. It is useful for businesses — like finance, investments, insurance, and banking or manufacturing companies — with many liquid/tangible assets on the books. However, it can be misleading for firms with significant R&D expenditure, high debt, service companies, or those with negative earnings.

In any case, the ratio is not particularly relevant as a standalone number. One should analyze other ratios like P/E, P/S, and debt to equity before arriving at a reasonable investment decision.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1812502/buy-these-7-best-value-stocks-to-make-the-most-of-pb-ratio

Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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VANCOUVER, BC, Oct. 20, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to announce the commencement of a diamond drill program along the MAIN Trend and completion of the Induced Polarization ("IP") geophysical survey over the Equity East and Allin Zones on its Silver Hope Property. The Silver Hope property is located approximately 70 kilometers (km) southeast of Houston, BC and surrounds Newmont Corporation's former Equity Silver Mine.

Highlights:

• a 2,000 metre (m) oriented-core drill program has commenced along the Main Trend, targeting 5 mineralized zones from previous Finlay and historical drilling.

• the recently completed IP survey successfully outlined two sizeable chargeability and resistivity anomalies, the Equity East and Allin anomalies. The Equity East anomaly covers approximately 1.0 km x 2.0 km and the second anomaly, the Allin, covers approximately 2.0 km x 1.5 km.

• detailed IP will be undertaken over both anomalies in advance of drill testing in the spring of 2022, once all necessary permits have been secured.

Robert F. Brown, President & CEO of Finlay states:

"The successful completion of the IP survey is a major step forward in building a more comprehensive picture of potential mineralizing sources on the Equity East and Allin Zones. Combined with the previously completed airborne magnetic survey, multi-element anomalous soil geochemistry, and geology, priority drill targets are being compiled to be tested in the spring of 2022."

2021 Drilling:

A 2,000m oriented-core drilling program commenced over the Gaul, Superstition and Hope Zones along the MAIN Trend. The drilling will be re-oriented from the historical E-W pattern to NW-SE taking into consideration findings of the initial oriented-core drilling program at the Gaul Zone in late 2020. Drilling will target mineralization in the more susceptible tuff beds at less than 100m depth.

2021 IP Geophysics:

Designed to provide a better understanding of the subsurface geology in these areas due to the lack of outcrop, the IP covered the ZTEM and airborne magnetic targets and a historical north-south oriented IP target immediately west of the Allin Zone. Covering a 4.0 by 3.5 km area, a total of 19 line-km were completed and encompassed the Equity East and Allin Zones multi-element soil and rock geochemistry anomalies with 0.5 – 1.0 km spaced east-west lines.

The IP survey successfully outlined two major anomalies within the Equity East and Allin Zones. In combination with the completed airborne magnetic survey in 2020 and the ZTEM survey in 2012, the IP

survey helped confirm the subsurface geology with the Goosly Plutonic center underlying the Equity East and Allin Zones. The plutonic center hosts a large magnetic high feature at surface with a large low conductive core at depth. On top and surrounding this geophysical feature are several chargeability and resistivity IP anomalies. The Goosly Plutonic Suite could be the source of the mineralization present at the Main Trend (Newmont's Equity Silver Mine Main & Southern Tail deposits, and Finlay's Superstition, Hope and Gaul Zones). The Equity East and Allin IP anomalies show similarities to the Main Trend with porphyry-type intrusion centers which could host porphyry mineralization.

(CLICK HERE to see the map displaying the 2021 IP lines, the resulting IP anomalies that will be drill tested in 2022 and the 2021 Main Trend proposed drill holes).

In addition, detailed mapping and rock sampling (including Terraspec alteration studies) in the Equity East and Allin Zones were undertaken as part of the efforts to build a comprehensive geological foundation. The company plans to conduct exploration drilling on the Allin and Equity East Zones in the spring of 2022.

Qualified Person:

Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company recently completed a financing of $1.0 million flow-through and $1.64 million non-flow-through funds.

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

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

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

SOURCE Finlay Minerals Ltd.

View original content: http://www.newswire.ca/en/releases/archive/October2021/20/c6342.html

Vancouver, British Columbia–(Newsfile Corp. – October 20, 2021) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") is pleased to announce that the Company has identified new drill targets and refined its drill program through analysis and interpretation of the airborne magnetic, VLF, and radiometric surveys carried out by Precision GeoSurveys Inc. (Precision) over the Wheaton Creek Gold Property in Northern British Columbia.

The objective of the analysis was to produce a 3D susceptibility model and identify geophysical areas of interest (GAI) with potential for gold mineralization. This process has identified several targets that are suitable for drilling. With reference to the map below, Pacific Bay is considering the following GAI as priority targets: GAI-10, GAI-9, GAI-11, GAI-7, and GAI-6.

Figure 01: Wheaton Creek Gold, Vertical Gradient with Geophysical Areas of Interest.

To view an enhanced version of Figure 01, please visit:
https://orders.newsfilecorp.com/files/3362/100223_e7e7f629e431faf1_002full.jpg

Over GAI-10 a number of factors that point to the increased probability of gold mineralization exist in conjunction, making this the highest priority area for future exploration. Additionally, GAI-10 represents the area within which the 1986 drillhole is found. This is an encouraging finding as DDH 86-1 intercepted 5.38 grams per tonne of gold over 3.05 metres with visible gold observed and suggests this area may produce further positive drill results.

Pacific Bay's VP of Exploration, Sebastien Ah Fat, explains, "Our initial strategy to twin the 1986 drillhole is strongly supported by the interpretation of the magnetic data. The radiometric anomaly in conjunction with the coincident high Potassium/Thorium ratio, the east-west magnetic lineation, and observed quartz vein structures at surface gives us increased confidence with launching a strategic exploration program on Wheaton Creek starting in GAI-10."

Furthermore, Pacific Bay has entered into a communications and engagement agreement with the Tahltan First Nations in an effort to build a strong relationship with the local community while progressing with work on the Wheaton Creek Gold Property. Initial correspondence has been positive and the Company's management intends to meet with the Tahltan Central Government in Q4 2021. Pacific Bay's VP of Operations, Antonio Vespa, adds, "We look forward to developing a strong working relationship with t he Tahltan First Nation. Along with an initial monetary consideration in support of the community, we aim to meaningfully engage with the Tahltan as we advance the Wheaton Creek Gold Project."

The Company plans to proceed with the diamond drilling program in 2022.

Wheaton Creek Highlights:

• 3,019 hectares of mineral tenures 100% owned by the Company

• 1986 drillhole 86-01 intercepted 5.38 grams per tonne of gold over 3.05 metres with visible gold

• 5-year multi-year area based (MYAB) permit in good standing

• Notice of work (NOW) application approved

Note: all above reported intercepts are core lengths only as the true width of the structures has not yet been determined.

Sebastien Ah Fat, P.Geo., a Qualified Person as defined by National Instrument 43-101, approved the technical information in this release.

On Behalf of the Board of Directors
David Brett, CEO
dbrett@pacificbayminerals.com
(604) 682-2421

Helder Carvalho, Vice President, Corporate Development
hcarvalho@pacificbayminerals.com

pacificbayminerals.com / Twitter / LinkedIn

This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the expected use of proceeds of the Financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.

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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100223

(Bloomberg) — BHP Group, the world’s biggest mining company, has raised its offer for Noront Resources Ltd., trumping a bid from iron ore billionaire Andrew Forrest and securing the support of the Canadian nickel miner’s board.

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The Melbourne-based company increased its bid by 36% to C$0.75 per share, above the C$0.70 offered by Forrest’s Wyloo Metals Pty Ltd.

BHP said the offer, which is open to shareholders until Nov. 9, doesn’t require the support of Wyloo to proceed, even though that company holds about 37% of Noront stock.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

“Noront and BHP believe that the offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects,” BHP said in a media statement.

Noront shares rose 3.9% to C$0.81 a 9:43 a.m. trading in Toronto, the biggest jump since Sept. 10. Shares of BHP fell 1.1% in London.

(Adds shares of Noront and BHP in last paragraph.)

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©2021 Bloomberg L.P.

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

TORONTO, October 20, 2021–(BUSINESS WIRE)–Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its third quarter 2021 financial results after market close on November 3, 2021. Senior management will host a conference call and webcast on November 4, 2021 at 10:00 am ET to review Sherritt’s third quarter financial and operational performance.

Please dial in 15 minutes before the start of the conference to secure a line and avoid delays. Alternatively, listeners will be able to access the conference call via the webcast available on Sherritt’s website.

A copy of the webcast and replay of the conference call will be available on the website following the presentation.

About Sherritt

Sherritt is a world leader in the mining and refining of nickel and cobalt – metals essential for the growing adoption of electric vehicles. Its Technologies Group creates innovative, proprietary solutions for oil and mining companies around the world to improve environmental performance and increase economic value. Sherritt is also the largest independent energy producer in Cuba. Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol "S".

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005616/en/

Contacts

Joe Racanelli, Director of Investor Relations
Email: joe.racanelli@sherritt.com
Telephone: (416) 935-2457

VANCOUVER, BC, Oct. 20, 2021 /PRNewswire/ — Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV: NILI) (OTCQB: NILIF) (FRA: DJ5C) is pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target at nearby FPX Nickel Corp. (TSXV: FPX) Baptiste Deposit in the Decar Nickel District as announced by FPX Nickel Corp. on October 19, 2021 (News Release).

As reported on July 8, 2021, Surge has entered into an option agreement with Nickel Rock Resources Inc. ("Nickel Rock") (TSXV: NICL) dated July 7, 2021 (the "Agreement"), whereby the Company may earn an undivided 80% interest in the Hard Nickel and Nickel 100 group of claims, located in Northern British Columbia (the "Transaction"). The Transaction is deemed to be a "related party" transaction and is subject to final TSX Venture Exchange ("Exchange") acceptance. These Nickel Group Claims are directly adjacent and nearby to the FPX Nickel Corp. (TSXV: FPX) Baptiste Nickel Deposit.

On September 3, 2021, the Company announced its proposed 2021 Nickel Exploration Work Program which consists of trenching, surface exploration, drone magnetic surveys, back pack drilling and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping.

The Company estimates that this proposed work program will include CAD$125,000 in exploration expenditures spent over the fall and early winter of 2021, and is subject to the successfully obtaining the aforementioned Exchange approval.

Mr. Greg Reimer, Surge President & CEO states: "The Company has decided to partner with Nickel Rock Resources on these properties because we believe that these mineral claims are of a high value to our shareholders. To joint venture these two mineral claims with a credible exploration partner in the region is extremely valuable and we can take advantage of not only Nickel Rock Resources current $600,000 flow-through exploration program, but also the work being done by nearby FPX Nickel Corp (TSXV: FPX) on the world-renown Baptiste Nickel Deposit. Currently, Surge has over CAD$4 million in working capital, which is sufficient to fund this 2021 work program and our other exploration property commitments in both British Columbia and Nevada."

The Surge BC Nickel Exploration Project (the "Project") consists of two non-contiguous mineral claims groups. The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

About the Hard Nickel Project

The subject claims are partially underlain by rocks like those hosting the Decar project of FPX Nickel where mineralization includes nickel, cobalt, and chromium. Previous exploration suggests that at least some of the nickel mineralization occurs as awaruite which is a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally. The mineral awaruite is both highly magnetic and very dense and is therefore amenable to concentration by mechanical processes including magnetic and gravity separation. This style of deposit is unique and presents considerable metallurgical and processing cost saving advantages.

Significantly, the awaruite found is found in a serpentinized ultramafic rock. In 2018, G. Dipple at the University of British Columbia began the Geoscience BC funded research project "Carbon Mineralization Potential Assessment for BC" scheduled for completion in early 2021. In late 2020 a preliminary assessment report was published. One of the key items from the report was "The use of reactive serpentinite tailings from nickel mining as a carbon sink has the potential to make nickel mining carbon neutral or a net carbon sink." The presence of serpentinized ultramafic rocks has been repeatedly documented in the areas covered by the claims of the Nickel Rock Projects, as well as at FPX Nickel Corp.'s Decar Project (Dipple, G. et.al., Geoscience BC Report 2020-15).

The Company has seen the commodity spot price for nickel to be in a steady uptrend while world stockpiles have been on the decline and EV manufacturers are calling for more supply of nickel because nickel quantities are increasing in batteries as they increase the amount of charge a battery can hold, thus allowing the EV's to travel greater distances. One such company is Tesla Inc., the world's leading EV manufacturer. Tesla's Founder, Elon Musk, stated that a large contract would be signed if a company could produce nickel with a lowered carbon footprint by using more environmentally friendly ways of mining (Reuters: September 11, 2020).

Greg Reimer, Company President and CEO states "We are very pleased with the results from our neighbour FPX Nickel, and we are looking forward to continue the exploration in the region in conjunction with our proposed exploration partner, Nickel Rock Resources."

Qualified Person

Jacques Houle, P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

Nevada Lithium Claims

The Company owns a 100% interest in 38 mineral claims located in Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.

As announced on Sept 30, 2021, the Company is also in the process of earning an undivided 80% interest in the San Emidio Desert Lithium Project, located 60 miles North East of Reno, Nevada from Lithium Corporation (OTCQB: LTUM). The San Emidio Desert Lithium Project consists of 35 mineral claims comprising a total of 2800 acres and is located in the San Emidio Desert.

Caledonia Project, Vancouver Island, BC

The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining District of northern Vancouver Island. The claims are 7 km north-west of BHP's past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.

British Columbia Nickel Project

Hard Nickel 4 and Nickel 100 Claims

The Company has entered into an Option Agreement with Nickel Rock Resources to acquire an 80% interest in 6 mineral claims in the Mount Sidney Williams area (Hard Nickel 4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (Nickel 100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the Hard Nickel 4 claim and the two southernmost claims of the Nickel 100 claims. The acquisition is subject to final Exchange approval.

On Behalf of the Board of Directors

"Greg Reimer"

Greg Reimer, President & CEO

604-428-5690

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. This news release may contain forward–looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward–looking. Forward–looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward–looking statements.

Infographic – https://mma.prnewswire.com/media/1665505/Surge_Update_Infographic.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/surge-battery-metals-provides-an-update-on-its-proposed-nickel-properties-in-british-columbia-301404493.html

SOURCE Surge Battery Metals Inc.

VANCOUVER, BC, Oct. 20, 2021 /PRNewswire/ — Nickel Rock Resources Inc. (the "Company" and "Nickel Rock") (TSX-V: NICL) (OTCQB: NICKLF) (FSE: NMK2) is pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target at nearby FPX Nickel Corp. (TSX-V: FPX) Baptiste Deposit in the Decar Nickel District as announced by FPX Nickel Corp. on October 19, 2021 (News Release).

As reported on July 8, 2021, Nickel Rock has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals (TSXV: NILI) in order to concentrate on its exploration efforts on the Nickel Group Claims directly adjacent to the FPX Nickel Corp. (TSXV: FPX) Baptiste Nickel Deposit. The option transaction remains subject to TSX Venture Exchange approval.

On September 3, 2021, the Company announced (News Release) that it has completed the second phase of the its initial exploration program has been completed on its Nickel exploration claims located in northern British Columbia, Canada. The BC Nickel Exploration Project (the "Project") consists of four non-contiguous mineral claims groups held by Nickel Rock Resources Inc. through three separate agreements. The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

About the Nickel Project

The subject claims are partially underlain by rocks like those hosting the Decar project of FPX Nickel where mineralization includes nickel, cobalt, and chromium. Previous exploration suggests that at least some of the nickel mineralization occurs as awaruite which is a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally. The mineral awaruite is both highly magnetic and very dense and is therefore amenable to concentration by mechanical processes including magnetic and gravity separation. This style of deposit is unique and presents considerable metallurgical and processing cost saving advantages.

Significantly, the awaruite found is found in a serpentinized ultramafic rock. In 2018, G. Dipple at the University of British Columbia began the Geoscience BC funded research project "Carbon Mineralization Potential Assessment for BC" scheduled for completion in early 2021. In late 2020 a preliminary assessment report was published. One of the key items from the report was "The use of reactive serpentinite tailings from nickel mining as a carbon sink has the potential to make nickel mining carbon neutral or a net carbon sink." The presence of serpentinized ultramafic rocks has been repeatedly documented in the areas covered by the claims of the Nickel Rock Projects, as well as at FPX Nickel Corp.'s Decar Project (Dipple, G. et.al., Geoscience BC Report 2020-15).

The Company has seen the commodity spot price for nickel to be in a steady uptrend while world stockpiles have been on the decline and EV manufacturers are calling for more supply of nickel because nickel quantities are increasing in batteries as they increase the amount of charge a battery can hold, thus allowing the EV's to travel greater distances. One such company is Tesla Inc., the world's leading EV manufacturer. Tesla's Founder, Elon Musk, stated that a large contract would be signed if a company could produce nickel with a lowered carbon footprint by using more environmentally friendly ways of mining (Reuters: September 11, 2020). Robert Setter, Company President and CEO comments "Elon Musk's comments made waves in the nickel space and several juniors have benefited from his comments and surged 2 to 3 times their value."

Robert Setter, Company President and CEO continues "We are very pleased with the results from our initial exploration program on the Hard Nickel and Nickel 100 claim group and specifically with the work completed during phase 2 of this initial exploration program. So far, we have recorded some relatively high Ni readings measured via portable XRF on the Nickel S block, as mentioned in our news from June 28, 2021, and our geological team suspects these ultramafic rocks have potential to host awaruite mineralization. This second phase of exploration includes both soil and rock sampling, technical report writing, mapping and assay work, with the remaining work to be done on trenching, geological, geochemical and geophysical surveying."

Recap of the Company's 2021 Work Program

The Company currently has sufficient funds in its treasury to fully fund its 2021 proposed work program and its remaining working capital needs for 2021 and 2022.

The proposed work program consists of trenching, surface exploration, diamond drilling, camp construction, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. The company proposes a 12-man camp to be built in a cirque on the north slope of the un-named mountain west of and adjacent to Mount Sydney Williams, and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek. The location of camp was selected based on past exploration camps at this location and is suitable for supporting exploration. Camp will be used to accommodate field personnel and will be accessed with helicopter. The work program is managed by Jeremy Hansen, P. Geol. and Hardline Exploration Corp.

The Company estimates that this 2021 work program includes a total of $600,000 in exploration expenditures.

Qualified Person

Jacques Houle, P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Nickel Rock Resources Inc. www.nickelrockresources.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Clayton Valley Nevada Lithium Project

The Company owns a 100% in 77 lithium placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/

About the British Columbia, Canada Nickel Projects

The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals Inc. (TSXV:NILI). The transaction is subject to Exchange approval.

The Company has entered into an Option Agreement to acquire a 100% interest, subject to a 2% NSR, in 6 mineral claims (Funk claims) located approximately 15 km west of Mt Sydney Williams near Fort St James, BC.

The Company also entered into an option agreement whereby the Company may earn an undivided 100% interest in the Klone Group of mineral claims (1,400 ha) adjoining the property of FPX Nickel Corp (TSXV:FPX) located 100km northwest of Fort St. James BC in the Omineca Mining division.

The Company has also entered an option

On Behalf of the Board of Directors

"Robert Setter"

Robert Setter, President & CEO

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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

Photo – https://mma.prnewswire.com/media/1665501/Nickel_Rock_Resources.jpg

Nickel Rock Resources Inc.

1220 – 789 West Pender Street

Vancouver, BC, Canada V6C 1H2

604- 428-5690

www.nickelrockresources.com

info@nickelrockresources.com

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SOURCE Nickel Rock Resources Inc.

VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

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

About Canasil:

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

For further information please contact:

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

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

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

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Teck Resources Ltd (TECK), which belongs to the Zacks Mining – Miscellaneous industry.

This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 6.81%.

For the last reported quarter, Teck Resources Ltd came out with earnings of $0.51 per share versus the Zacks Consensus Estimate of $0.50 per share, representing a surprise of 2%. For the previous quarter, the company was expected to post earnings of $0.43 per share and it actually produced earnings of $0.48 per share, delivering a surprise of 11.63%.

Price and EPS Surprise

For Teck Resources Ltd, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Teck Resources Ltd has an Earnings ESP of +9.86% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #1 (Strong Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on October 26, 2021.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

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Zacks Investment Research

VANCOUVER, BC, Oct. 19, 2021 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") is pleased to announce that Michael Kordysz has joined the Company in the position of Vice President, Business Development and Strategy.

Mike has worked within the mineral exploration and technology industries for over 25 years in senior management positions including the areas of finance, business development, strategic planning, and corporate restructuring.

Mike has also been involved in the listing of companies on the Toronto Stock Exchange, the TSX Venture Exchange, and the OTC markets, and has had successful business experience with mining companies operating in Canada, USA, Argentina, and Indonesia.

Mike holds a Bachelor of Business Administration and additional courses focusing on securities compliance, investor fundamentals, disclosure and management education.

"We are delighted to welcome Mike to our team at this exciting time. Mike brings a wealth of experience at all levels in the business development, marketing, and capital markets arena worldwide" commented John Mirko, Rokmaster's President and CEO.

In connection with Mr. Kordysz's appointment, he has been granted 500,000 stock options under the Company's stock option plan. The options are exercisable for a period of five years at an exercise price of $0.45 per common share.

An updated corporate presentation, figures and photos are available on Rokmaster's website at https://www.rokmaster.com/projects/revel-ridge/

On behalf of the Board of Directors,

"John Mirko"

John Mirko, President and Chief Executive Officer.

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.

About Rokmaster

Rokmaster controls a portfolio of three significant exploration and development projects all of which are located in southern British Columbia in regions of excellent infrastructure. The three projects include:

1. Revel Ridge. Rokmaster is currently conducting an underground drill program at the Revel Ridge project located in southeastern British Columbia 35 km's N of the City of Revelstoke. Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a PEA Technical Report dated December 8, 2020.

2. Duncan Zinc. Duncan Zinc is a carbonate hosted silver-lead-zinc deposit located near Duncan Lake in southern British Columbia. The deposit is hosted within a Cambrian age Badshot Limestone which also hosts silver-lead-zinc mineralization at Teck's currently producing Pend D'Oreille mine as well as past producers including the Blue Bell Mine, Reeves MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of the regional scale Duncan Lake anticline, where strong lead-zinc +/- silver mineralization has been traced by surface and underground drilling for approximately 2500 m. At Duncan Lake, Rokmaster will be targeting > 30 Mt of >10% Pb+Zn+Ag. Historical background and a geological synthesis of the Duncan Lake deposit is provided in a NI 43-101 report by Lane, B., 2018: Technical Report on the Duncan Lake Project.

3. Big Copper. Rokmaster controls the Big Copper property in the Creston area of Southern British Columbia. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for 3 km along strike and is exposed in a series of adits and trenches over approximately 250- 300 m of vertical relief. Big Copper likely belongs to a class of stratiform – stratabound replacement copper-silver deposits hosted within mid – Proterozoic quartzitic sediments. The style and stratigraphic setting of mineralization at Big Copper may be analogous to similar stratabound silver-copper deposits in NW Montana e.g., the Troy mine (64 million tonnes of 0.74% Cu and 54 g/t Ag (Western Mining History, 2020) or Hecla's Montanore Mine, 112 million tonnes at 51.2 g/t Ag and 0.7% Cu. (Hecla website link).

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Mark Rebagliati, P. Eng., FEC, who is independent of Rokmaster.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:
This news release may contain forward-looking information within the meaning of applicable securities laws ("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. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

SOURCE Rokmaster Resources Corp.

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VANCOUVER, BC, Oct. 19, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX" or the "Company") is very pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target ("Van") in the Company's Decar Nickel District ("Decar" or the "District") in central British Columbia. The first two widely-spaced holes at Van, which is located 6 km north of the Baptiste Deposit ("Baptiste"), returned some of the strongest results in the District's history, highlighted by the results of the first hole (21VAN-001), which intersected among the highest-grading broad intervals of near-surface nickel mineralization ever drilled at Decar.

Highlights

• First two holes at Van show that the strong mineralization in previously reported outcrop samples continues to depth

• Nickel mineralization at Van occurs as disseminated awaruite (nickel-iron alloy) and in the same ophiolite host rocks as at Baptiste

"We are extremely pleased with these first drill results from Van, confirming the potential for this target to host a large-scale, standalone nickel deposit to rival the deposit already delineated at Baptiste, which is the world's third largest undeveloped nickel deposit*," commented Martin Turenne, the Company's President and CEO. "For context, the results of 21VAN-001 exceed the highest-grading, near-surface results achieved in any of the first 38 holes drilled at Baptiste between 2010 and 2012. We look forward to reporting additional assays from this year's nine-hole Van program in the coming weeks."

FPX's Chairman Peter Bradshaw added: "While we are in still in the very early stages of understanding the potential at Van, the results of the first two holes, drilled in the central portion of the large 2.5 km² target area, strengthen our view that the Decar Nickel District could host other large-scale deposits to support a district-scale, multi-generational nickel operation."

Link to view drill results within interactive 3D VRIFY model (for best results, view in full screen): https://vrify.com/embed/decks/10590-FPX-Nickel-Van-Target-Press-Release

Figure 1: Decar Nickel District

Van Target Drilling

The results of 21VAN-001 and 21VAN-002 are the first from a maiden nine-hole, 2,688 m drill program at the Van Target, which is located 6 km north of Baptiste at similar elevations, and accessible via logging roads (see Figure 1). Maiden drilling at Van was designed to test the sub-surface potential for mineralization in areas below and adjacent to prospective samples of outcropping bedrock, which had defined a target area of approximately 2.5 km². The size of the Van Target defined by outcrop sampling is comparable to the Baptiste deposit, which measures 3 km along strike with widths of up to 1 km. All nine holes were drilled to the north-northeast at a declination of minus 50 degrees to a target depth of 350 m.

Table 1 – Van Target Drill Hole Results

¹ The vertical depth (true width) of all quoted intersections in this news release is interpreted to be approximately 70% of downhole depth.

² All mineralized core samples are assayed for "total nickel" and "Davis Tube Recoverable ("DTR") nickel." "DTR nickel" analyses measure only the magnetically recoverable nickel hosted in awaruite (nickel-iron alloy), whereas the "total nickel" analyses measure both recoverable and refractory nickel, the latter hosted in silicate phases like olivine and, to a lesser extent, serpentine. The Davis Tube method is in effect a mini-scale metallurgical test procedure used to provide a more accurate measure of recoverable nickel and is the global industry-standard geometallurgical test for magnetic recovery operations and exploration projects. See "Sampling and Analytical Method", below.

The nickel mineralization intersected within 21VAN-001 and 21 VAN-002 is characterized by disseminated, coarse-grained awaruite (nickel-iron alloy) mineralization hosted in serpentinized ophiolitic rocks and is analogous to the mineralization and geological setting at the Baptiste Deposit.

21VAN-001 was collared in the central portion of the 2.5 km² target area and was drilled to the north-northeast at an angle of minus 50 degrees. The hole encountered bedrock at 34.5 m downhole (approximately 26 m vertical depth) and thereafter intersected 319.5 m of strong awaruite mineralization, to a downhole depth of 354 m. The strongest mineralization at 21VAN-001 was encountered near the top of hole, including a 101 m interval of 0.150% DTR nickel starting at downhole depth of 43 m (approximately 32 m vertical depth). Mineralization in this hole remains open at depth.

21VAN-002 was collared 350 m southwest along section from 21VAN-001 and was also drilled to the north-northeast at minus 50 degrees. The hole encountered bedrock at 16.1 m downhole (approximately 12 m vertical depth) and thereafter intersected 334.9 m of strong awaruite mineralization, grading 0.121% DTR nickel to a downhole depth of 351 m. 21VAN-002 is notable for multiple broad intercepts of strong nickel mineralization, including 0.144% DTR Ni over 103 m starting at a downhole depth of 91 m (approximately 68 m vertical depth), and 0.136% DTR Ni over 102 m starting at 237 m downhole (approximately 178 m vertical depth). Mineralization in this hole also remains open at depth.

Collar locations for the nine holes drilled at the Van Target are provided in Figure 2. Holes were spaced approximately 350 m apart and tested the Van Target over an area of approximately 1 km² to a maximum downhole depth of 350 m. Assays are pending for holes 21VAN-003 to 21VAN-009.

Figure 2: Van Target Plan Map with Drillhole Collar Locations and Previously Reported Outcrop Samples

Figure 3 – Van Target Cross Section with Assay Results and Lithology for 21VAN-001 and 21VAN-002

*Note: The Baptiste Deposit ranks as the world's third largest undeveloped nickel deposit, according to Mining Intelligence (see https://www.mining.com/featured-article/ranked-worlds-top-10-nickel-projects)

Sampling and Analytical Method
HQ & NQ drill core were quartered and halved respectively, using a diamond blade core cutting saw and sampled continuously downhole with the exception of post mineralization dikes and non-mineralized rock types that are unsampled and known to have zero grade. Drill core samples were cut on-site, sampled at nominal 4 m intervals, bagged and sealed with tamper proof tags and shipped to Activation Laboratories in Kamloops, British Columbia, for sample preparation. Sample preparation involved crushing the entire sample to 90% less than 2 mm, riffle splitting 250 g and pulverization of the split to >95% passing 74 microns. Analytical work was completed at Activation Laboratories in Ancaster, Ontario that included lithium metaborate/tetraborate fusion ICP and also DTR Ni analysis. DTR Ni analysis involves Davis tube magnetic separation from a 30 g split of the pulp through a Davis tube magnetic separator as a slurry using a constant flow rate of 400 millilitres per minute and magnetic field strength of 3,500 Gauss at a 45 degree angle to produce a magnetic fraction and non-magnetic fraction. The magnetic and non-magnetic fractions are dried and weighed. The magnetic fraction is analyzed by fusion X-Ray Fluorescence ("XRF") that reports multi-element data including nickel, cobalt and chromium analysis. The DTR nickel grade is calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction, divided by total recorded weight.

QA/QC procedures involved the analysis of field and prep duplicates, DTR replicates, insertion of certified reference materials, and non-certified blanks to assess the accuracy and precision of the Davis tube magnetic separation and XRF analysis that are used to determine the DTR nickel content. The Davis tube method is a bench scale metallurgical test procedure and is used to provide a more accurate measure of magnetically recoverable nickel and is the global, industry standard for geometallurgical testing for magnetic recovery operations and exploration projects.

Dr. Peter Bradshaw, P. Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km² of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. The District is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni₃Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, approximately US $24 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 m of drilling completed. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit. The Van target was not drill-tested at that time as rock exposure was very poor prior to more recent logging activity. In 2021, the Company executed a maiden drilling program at Van which has returned promising results comparable with the strongest results at Baptiste.

As reported in the current NI 43-101 resource estimate, having an effective date of September 9, 2020, the Baptiste Deposit contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, containing 2.4 million tonnes of nickel, plus 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, containing 0.7 million tonnes of nickel, both reported at a cut-off grade of 0.06% DTR nickel. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director

Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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

SOURCE FPX Nickel Corp.

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OTTAWA, Oct. 19, 2021 (GLOBE NEWSWIRE) — Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (OTC:CTNXF) (FWB:GWN1) is pleased to provide an independently verified update regarding a Mineral Resource Estimate (“MRE”) for its Tandayama-Ameríca (“TAM”) porphyry copper-gold deposit located 3km north of the Alpala Deposit¹ at its Cascabel copper-gold porphyry joint venture project in northern Ecuador (see Figure 1) in which Cornerstone has a 15% interest² financed through to completion of a feasibility study plus 6.86% of the shares of joint venture partner and Project operator SolGold Plc, for a total direct and indirect interest in Cascabel of 20.8%.

Figures referenced in this news release can be viewed through the following link: https://cornerstoneresources.com/site/assets/files/5829/nr21-18figures.pdf.

SUMMARY OF TANDAYAMA-AMERICA MINERAL RESOURCE ESTIMATE

Total Mineral Resource of 233.0Mt @ 0.23% Cu and 0.16 g/t Au (0.33% copper equivalent (CuEq)³) containing 0.53Mt Cu and 1.20Moz Au in the Indicated category, plus 197.0Mt @ 0.27% Cu and 0.20 g/t Au (0.39% CuEq) containing 0.52Mt Cu and 1.24Moz Au in the Inferred category.

Notes:

1. Dr Andrew Fowler, MAusIMM CP(Geo), Principal Geology Consultant of Mining Plus, is responsible for this Mineral Resource statement and is an "independent Qualified Person" as such term is defined in NI 43-101.

2. The Mineral Resource is reported using cut-off grades that are applied according to the mining method where 0.16 % CuEq applies to potentially open-pittable material and 0.28 % CuEq applies to material potentially mineable by underground bulk mining methods.

3. The Mineral Resource is considered to have reasonable prospects for eventual economic extraction by open pit or underground bulk mining such as block caving as described below.

4. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

5. The statement uses the terminology, definitions and guidelines given in the CIM Standards on Mineral Resources and Mineral Reserves (May 2014) as required by NI 43-101.

6. The underground portion of the Mineral Resource is reported on 100 percent basis within an optimized shape as described below.

7. Figures may not compute due to rounding.

• Potentially open pittable Mineral Resources comprise 201.0Mt @ 0.22% Cu and 0.16 g/t Au (0.33% CuEq) in the Indicated category, plus 61.8Mt @ 0.25% Cu and 0.30 g/t Au (0.44% CuEq) in the Inferred category, at a cut-off grade of 0.16% CuEq.

• Potentially open pittable Mineral Resources include a higher-grade near-surface zone containing 10.6Mt @ (0.26% Cu and 0.25 g/t Au (0.41% CuEq) and 5.2Mt @ 0.27% Cu and 0.28 g/t Au (0.45% CuEq).

• Mineral Resources potentially mineable by underground bulk mining methods comprise 32.0Mt @ 0.26% Cu and 0.14 g/t Au (0.35% CuEq) in the Indicated category, plus 135.2Mt @ 0.27% Cu and 0.15 g/t Au (0.37% CuEq) in the Inferred category, at a cut-off grade of 0.28% CuEq.

• Drilling continues and an update to the TAM resource base is planned.

Project Operator SolGold’s Interim CEO Keith Marshall commented on the work being advanced at Cascabel:

“The TAM deposit adds further copper and gold mineralization to Alpala’s large metal inventory at the Cascabel project. The resource offers optionality and the potential to generate economic ore earlier which will complement the high-grade Alpala underground ore.

The maiden MRE is based on assays from the first 18 holes. Drilling has continued at the TAM deposit during the estimation process and visual mineralization from Holes 19-30 suggest potential for future resource growth in the southeast quarter of the open pit optimised shape and particularly in the east and southeast depth extensions of the underground optimised shape where the highest grade mineralization encountered thus far remains open.”

FURTHER INFORMATION

On August 26, 2021, a data cut-off was applied to the TAM dataset for the purposes of Mineral Resource Estimation. The TAM maiden MRE dataset comprised 17,535m of diamond drilling from holes 1-23, 458m of surface rock-saw channel sampling from 72 outcrops, and 14,566m of final assay results from holes 1-18 (Figure 2).

To date a total of 22,216m has been completed at the TAM deposit, with drill holes 26-30 currently underway utilising four diamond drilling rigs. Assay results from Holes 19-25, and 27 are pending.

The TAM MRE is constrained within a three-dimensional (“3D”) Open Pit Optimised Shape (“OP”) and an Underground Optimised Shape (“UOS”), whereby the UOS “daylights” into the floor of the OP (Figure 3).

The estimation of Cu and Au was confined within 3D estimation domains which were based on the combination of two 3D wireframe interpretations:

• Grade Shell Interpretation: Low-, Medium- and High-Grade shells equating to CuEq cut-off grades of 0.15%, 0.30% and 0.45% respectively.

• Lithological Interpretation: Modelling of seven rock groups, comprising “D10” (Pre-Mineral Diorite Host Rock), “EM” (Early-Mineral Quartz Diorite and Diorite), “IBX” (Intra-Mineral Intrusive Breccia), “IM” (Intra-mineral Quartz Diorite and Diorite), “LM” (Late-mineral Diorite), “PM” (Post-mineral Quartz Diorite and Diorite), “V” (Pre-Mineral Volcanic Host Rocks), and “SOI” (soil and oxidised rock).

The TAM deposit shares the same geological and structural setting as the Alpala deposit. Mineralization is hosted within a complex of middle to late-Eocene (Bartonian) hornblende-bearing diorites, quartz diorites and intrusive breccias that intrude volcanic host rocks to form a complex of stocks, dykes, and breccia pipes.

The trend of mineralization throughout the TAM deposit is defined by a northwest (315^○) trending intrusive complex inclined steeply (78^○) towards the northeast. Surface mapping data was supported by structural measurements taken from orientated drill core provided data from 127 intrusive contacts and 3062 B-type quartz veins.

Copper and gold mineralization is intimately associated with porphyry style B-type quartz-chalcopyrite veins and stockworks, centred upon an early-mineral causal quartz-diorite intrusion (QD10), and cut by a series of intra-mineral, late-mineral and post-mineral stocks dykes and breccias of diorite, hornblende diorite, and quartz diorite.

Intrusions have emplaced episodically such that each subsequent intrusion has introduced mineralizing fluids (and subsequent arrays of mineralized veins) into the TAM system, and/or remobilising and enriching existing mineralization or contributed to localised overprinting of pre-existing mineralization.

The geological character of the porphyry stocks / dykes encountered through drilling to date indicate a well-preserved porphyry system with significant potential for greater depth extent. Individual mineralized porphyry dykes are observed to have emplaced within a vertical column of over 1,000m.

The full size and tenor of the TAM system has not yet been tested. Mineralization remains open to the south and east and at depth. Further surface geochemical anomalies to the east of the current drilling area require drill testing.

Reasonable Prospects for Eventual Economic Extraction

The cut-off grades used for reporting have been based on up to date third party metal price research, forecasting of Cu and Au prices, and a cost structure from mining studies currently being reviewed. Costs include mining, processing and general and administration (“G&A”). Net Smelter Return (“NSR”) includes metallurgical recoveries and off-site realisation (TC/RC) including royalties and utilising metal prices of Cu at US$3.30/lb and Au at US$1,700/oz.

Cut-off grades have been developed independently for open pit mining methods and underground bulk mining methods. The cut-off grade for potentially open pittable material has been calculated at 0.16% CuEq using a copper equivalency factor of 0.632, while the cut-off grade for material potentially mineable by a bulk underground mining method such as block caving has been calculated at 0.28% CuEq using a copper equivalency factor of 0.654.

Optimisation was completed in two stages, with the open pit optimisation initially applied to the block model, and the remaining material was then considered for underground optimisation.

The open pit optimisation was completed using the conventional Lerchs-Grossman optimisation routine implemented in Whittle software, and the revenue factor one pit was selected for reporting the Mineral Resource. The QP considers that the open pit portion of the reported Mineral Resource has reasonable prospects for eventual economic extraction at the specified cut-off grade.

Subsequently, a three-dimensional Underground Optimised Shape was generated using Datamine^TM software at a cut-off grade of 0.28% CuEq. Block Cave and Sub-Level Cave mining methods were considered during the optimisation. The final UOS maximises the tonnes above the cut-off while ensuring that all material was part of a minimum mining unit with geometry appropriate for a block cave of 120 m length by 120 m width by 200 m height. These minimum mining dimensions for a block cave are consistent with mining studies and the resulting shape contains planned internal and edge dilution that the QP considers appropriate.

It is noteworthy that the UOS is not described as a “mineable shape”. Mining factors excluded from this analysis include, but are not limited to, capital costs (non-mining, access and footprint establishment), regional pillars, footprint geometries, unplanned dilution and the time value of money. However, the shape does enclose a contiguous and appropriately diluted Mineral Resource that, by virtue of its grade and geometry, should be considered for inclusion within a mineable shape. As such, the QP considers that the underground portion of the reported Mineral Resource has reasonable prospects for eventual economic extraction by the block cave underground mining method at the specified cut-off grade.

An assessment of whether the project as a whole is economically viable has not been made under this analysis.

Quality Assurance / Quality Control on Sample Collection, Security and Assaying

SolGold operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices.

Primary sample collection involves secure transport from Cascabel to the ALS certified sample preparation facility in Quito, Ecuador. Samples are then air freighted from Quito to the ALS certified laboratory in Lima, Peru where the assaying of drill core, channel samples, rock chips and soil samples is undertaken. SolGold utilises ALS certified laboratories in Canada and Australia for the analysis of metallurgical samples.

Samples are prepared and analysed using 100g 4-Acid digest ICP with MS finish for 48 elements on a 0.25g aliquot (ME-MS61). Laboratory performance is routinely monitored using umpire assays, check batches and inter-laboratory comparisons between ALS certified laboratory in Lima and the ACME certified laboratory in Cuenca, Ecuador.

In order to monitor the ongoing quality of its analytical database, SolGold’s QA/QC protocol encompasses standard sampling methodologies, including the insertion of certified powder blanks, coarse chip blanks, standards, pulp duplicates and field duplicates. The blanks and standards are Certified Reference Materials supplied by Ore Research and Exploration, Australia.

SolGold’s QA/QC protocol also monitors the ongoing quality of its analytical database. The Company’s protocol involves Independent data validation of the digital analytical database including search for sample overlaps, duplicate or absent samples as well as anomalous assay and survey results. These are routinely performed ahead of Mineral Resource Estimates and Feasibility Studies. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

Reviews of the sample preparation, chain of custody, data security procedures and assaying methods used by SolGold confirm that they are consistent with industry best practices and all results stated in this announcement have passed SolGold’s QA/QC protocol.

Qualified Person

Information in this news release relating to the exploration results is based on data reviewed by Jason Ward ((CP) B.Sc. Geol.), the Chief Geologist of SolGold Plc, the Project operator. Mr. Ward is a Fellow of the Australasian Institute of Mining and Metallurgy, holds the designation FAusIMM (CP), and has in excess of 20 years’ experience in mineral exploration and is a Qualified Person for the purposes of National Instrument 43-101. Mr. Ward consents to the inclusion of the information in the form and context in which it appears.

Information in this news release relating to the Mineral Resource Estimate was reviewed by Dr. Andrew Fowler, who is a Chartered Professional Member of the Australasian Institute of Mining and Metallurgy and has over 20 years’ experience in Mineral Resource Estimation, open pit mining, underground mining and mineral exploration. He is an independent Qualified Person for the purposes of the relevant TSX Rules. Dr. Fowler consents to the inclusion of the information in the form and context in which it appears.

Yvan Crepeau, MBA, P.Geo., Cornerstone's Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.

About Cornerstone

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

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

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

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

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

On Behalf of the Board,
Brooke Macdonald
President and CEO

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

¹ The Alpala deposit comprises 2,663 Mt at 0.53% CuEq (see how calculated in next paragraph) in the Measured plus Indicated categories and contained metal content of 9.9 Mt Cu, 21.7 Moz Au and 92.2 Moz Ag. The deposit measures approximately 900m in height and 500m diameter. See “Cascabel Property NI 43-101 Technical Report, Alpala Porphyry Copper-Gold-Silver Deposit – Mineral Resource Estimation, January 2021” with an Effective date: 18 March 2020 and Amended Date: 15 January 2021 (the “Amended Technical Report”), filed at www.Sedar.com on January 29, 2021: https://cornerstoneresources.com/site/assets/files/5574/2101_cascabel_mre3.pdf.

Alpala Copper Equivalency (CuEq) was calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0 613 (CuEq = Cu + Au x 0.613), calculated from a nominal copper price of US$3.40/lb and a gold price of US$1,400/oz.

² See “About Cornerstone” below.

³ TAM Copper Equivalency (CuEq) was calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0 751 (CuEq = Cu + Au x 0.751), calculated from an updated nominal copper price of US$3.30/lb and a gold price of US$1,700/oz. Copper equivalent grades have been determined as ratios that take into account reasonable assumptions for metallurgical recovery based on similar deposit types, i.e., TAM shares the same geological and structural setting as the Alpala deposit 3 kilometres away for which metallurgical recoveries have been estimated. See Metallurgical recoveries for Cu and Au in Table 14-32 on page 271 of the Alpala Technical Report referred to in footnote 1 above, and Reasonable Prospects for Eventual Economic Extraction, below.

BHP Group BHP released production details for the quarter ended Sep 30, 2021 and affirmed its previously announced production and cost guidance for fiscal 2022. Total iron ore production dipped 4% to 63 Mt (million tons) in the quarter due to higher planned maintenance and temporary rail labor shortages related to COVID-19 related border restrictions. The company reported declines in quarterly output for copper, metallurgical coal and nickel, while petroleum and energy coal were up year over year.

Last week, the company’s peer, Rio Tinto plc RIO, reported a 4% drop in iron ore production to 83.3 Mt in the July-September quarter citing heritage management, brownfield mine replacement tie-ins and project completion delays. The company now expects to ship iron ore between 320 Mt and 325 Mt this year, down from the previous range of 325 Mt to 340 Mt as a tighter labor market in Western Australia led to delay in the completion of a new greenfield mine at Gudai-Darri and the Robe Valley brownfield mine replacement project.

BHP’s Production Highlights

In the third quarter, BHP’s iron ore production was primarily impacted by a 6% decline in production at Western Australia Iron Ore (“WAIO”). This was due to planned maintenance during the quarter, including major maintenance of car dumper one and the train load out at Jimblebar, and temporary rail labor shortages related to COVID-19 related border restrictions. This was partially offset by strong mine performance and optimization of Yandi’s end-of-life ramp-down.

Total petroleum production was 27.5 MMboe (million barrels of oil equivalent) for the period under review, up 3% year over year driven by higher volumes due to increased production from Ruby and higher seasonal gas demand at Bass Strait. Copper production was down 9% year over year to 377 kt in the quarter due to lower volumes at Olympic Dam on account of the commencement of the planned smelter maintenance campaign, which was delayed by one month owing to COVID-19 related border restrictions.

Metallurgical coal production fell 9% to 9 Mt due to planned maintenance. Energy coal production was up 17% to 4 Mt on increased stripping enabled by continued improvement in underlying truck productivity. Nickel production slumped 20% year over year to 17.8 kt due to planned maintenance across the supply chain.

Maintains Fiscal 2022 Production & Cost Guidance

In fiscal 2022, BHP expects to produce between 249 Mt and 259 Mt of iron ore compared with 253.5 Mt produced in fiscal 2021 as WAIO continues to focus on incremental volume growth through productivity improvements. The company’s petroleum production guidance for fiscal 2022 is expected to be 99-106 MMboe. BHP anticipates copper production between 1,590 kt and 1,760 kt in fiscal 2022. Production guidance of Metallurgical coal for fiscal 2022 is at 39-44 Mt, while the same for energy coal is at 13-15 Mt. Nickel production for fiscal 2022 is anticipated between 85 kt and 95 kt.

For fiscal 2022, WAIO unit cost guidance is projected at $17.50-$18.50 per ton. Escondida unit cost is estimated to be $1.20 to $1.40 per pound. The Queensland Coal unit cost for fiscal 2022 is expected to be $80-$90 per ton. Conventional Petroleum unit cost is projected at $11-$12 per boe for fiscal 2022. NSWEC unit costs are expected between $62 per ton and $70 per ton.

Development Projects on Track

As of Sep 30, 2021, BHP had four major projects under development in petroleum (Mad Dog Phase 2 and Shenzi North development) and potash (Jansen mine shafts and Jansen Stage 1). This calls for a combined budget of $11.2 billion over the life of the projects.

The company also stated that the previously announced agreement to pursue a proposed merger of its Petroleum business with Woodside, which would create a global top 10 independent energy company, is progressing according to the plan. Following receipt of all approvals, the merger is expected to be completed in the second quarter of the 2022 calendar year. The company’s intention to unify its dual listed company structure is expected to happen in the March 2022 quarter.

BHP’s efforts to make operations more efficient through smart technology adoption across the entire value chain will continue to aid in reducing costs, thereby boosting margins. Focus on lowering debt will fuel growth. Iron ore prices have been down this year due to weak demand in China on account of its intensified curbs on steel production and slowdown across its property sector. This remains a headwind for the company.

Price Performance

Image Source: Zacks Investment Research

Over the last year, BHP’s shares have gained 14.6%, compared with the industry’s rally of 18%.

Zacks Rank & Stocks to Consider

BHP currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE and Methanex Corporation MEOH. Both of these stocks sport a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Nucor has an estimated earnings growth rate of 537.4 % for the ongoing year. In a year’s time, the company’s shares have appreciated 109%.

Methanex has a projected earnings growth rate of 409.3% for 2021. The company’s shares have gained 77% in a year.

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The big shareholder groups in BHP Group (ASX:BHP) have power over the company. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that used to be publicly owned tend to have lower insider ownership.

BHP Group has a market capitalization of AU$191b, so it's too big to fly under the radar. We'd expect to see both institutions and retail investors owning a portion of the company. In the chart below, we can see that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about BHP Group.

View our latest analysis for BHP Group

What Does The Institutional Ownership Tell Us About BHP Group?

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

BHP Group already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. 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 BHP Group, (below). Of course, keep in mind that there are other factors to consider, too.

Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in BHP Group. Our data shows that BlackRock, Inc. is the largest shareholder with 6.9% of shares outstanding. The Vanguard Group, Inc. is the second largest shareholder owning 5.1% of common stock, and Norges Bank Investment Management holds about 4.2% of the company stock.

Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

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 BHP Group

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. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

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 data suggests that insiders own under 1% of BHP Group in their own names. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own AU$65m worth of shares. In this sort of situation, it can be more interesting to see if those insiders have been buying or selling.

General Public Ownership

The general public holds a 47% stake in BHP Group. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with BHP Group (at least 1 which makes us a bit uncomfortable) , and understanding them should be part of your investment process.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

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. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

Teck Resources Ltd (TECK) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on October 26, 2021, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This company is expected to post quarterly earnings of $1.06 per share in its upcoming report, which represents a year-over-year change of +488.9%.

Revenues are expected to be $2.74 billion, up 59.6% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 26.83% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Teck Resources Ltd?

For Teck Resources Ltd, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +9.86%.

On the other hand, the stock currently carries a Zacks Rank of #1.

So, this combination indicates that Teck Resources Ltd will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Teck Resources Ltd would post earnings of $0.50 per share when it actually produced earnings of $0.51, delivering a surprise of +2%.

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

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Teck Resources Ltd appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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Price to earnings (P/E) and price to sales (P/S) are the first ratios that come to an investor’s mind while narrowing down a list of undervalued stocks. However, the price-to-book ratio (P/B ratio), though underrated, is also an easy-to-use valuation tool for identifying low-priced stocks with high-growth prospects.

P/B ratio is calculated as below:

P/B ratio = market capitalization/book value of equity.

What’s Book Value?

There are several ways by which book value can be defined. Book value is the total value that would be left over, according to the company’s balance sheet, if it goes bankrupt immediately. In other words, this is what shareholders would theoretically receive if a company liquidates all its assets after paying off all its liabilities.

It is calculated by subtracting total liabilities from the total assets of a company. In most cases, this equates to common stockholders’ equity on the balance sheet. However, depending on the company’s balance sheet, intangible assets should also be subtracted from total assets to determine book value.

Understanding P/B Ratio

By comparing the book value of equity to its market price, we get an idea of whether a company is under- or overpriced. However, like P/E or P/S ratio, it is always better to compare P/B ratios within industries.

A P/B ratio of less than one means that the stock is trading at less than its book value, or the stock is undervalued and therefore a good buy. Conversely, a stock with a ratio greater than one can be interpreted as being overvalued or relatively expensive.

For example, a stock with a P/B ratio of 2 means that we pay $2 for every $1 of book value. Thus, the higher the P/B, the more expensive the stock.

But there is a caveat. A P/B ratio less than one can also mean that the company is earning weak or even negative returns on its assets, or that the assets are overstated, in which case the stock should be shunned because it may be destroying shareholder value. Conversely, the stock’s price may be significantly high — thereby pushing the P/B ratio to more than one — in the likely case that it has become a takeover target, a good enough reason to own the stock.

Moreover, the P/B ratio isn't without limitations. It is useful for businesses — like finance, investments, insurance, and banking or manufacturing companies — with many liquid/tangible assets on the books. However, it can be misleading for firms with significant R&D expenditure, high debt, service companies, or those with negative earnings.

In any case, the ratio is not particularly relevant as a standalone number. One should analyze other ratios like P/E, P/S, and debt to equity before arriving at a reasonable investment decision.

Screening Parameters

Price to Book (common Equity) less than X-Industry Median: A lower P/B compared with the industry average implies that there is enough room for the stock to gain.

Price to Sales less than X-Industry Median: The P/S ratio determines how much the market values every dollar of the company’s sales/revenues — a lower ratio than the industry makes the stock attractive.

Price to Earnings using F(1) estimate less than X-Industry Median: The P/E ratio (F1) values a company based on its current share price relative to its estimated earnings per share — a lower ratio than the industry is considered better.

PEG less than 1: PEG links the P/E ratio to the future growth rate of the company. The PEG ratio portrays a more complete picture than the P/E ratio. A value of less than 1 indicates that the stock is undervalued and investors need to pay less for a stock that has bright earnings growth prospects.

Current Price greater than or equal to $5: They must all be trading at a minimum of $5 or higher.

Average 20-Day Volume greater than or equal to 100,000: A substantial trading volume ensures that the stock is easily tradable.

Zacks Rank less than or equal to #2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.

Value Score equal to A or B: Our research shows that stocks with a Value Score of A or B when combined with a Zacks Rank #1 or 2 offer the best opportunities in the value investing space.

Here are seven out of the 25 stocks that qualified the screening: 

Foot Locker FL, a retailer of athletic shoes and apparel, has a projected 3-5-year EPS growth rate of 29.1%. It currently has a Zacks Rank #2 and a Value Score of A.  You can see the complete list of today’s Zacks #1 Rank stocks here.

Hibbett, Inc. HIBB, a retailer of athletic-inspired fashion products, has a projected 3-5-year EPS growth rate of 22.4% It currently has a Zacks Rank #1 and a Value Score of A. 

Group 1 Automotive GPI, a leading automotive retailer, has a projected 3-5-year EPS growth rate of 13.2%. It currently has a Zacks Rank #2 and a Value Score of A.

ICL Group ICL, a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions, has a Zacks Rank #2 and a Value Score of B. The company has a projected 3-5-year EPS growth rate of 24.4%.

Conn’s CONN, a specialty retailer, has a Zacks Rank #2 and a Value Score of A. The company has a projected 3-5-year EPS growth rate of 23.0%.

Teck Resources Limited TECK, a diversified resource company committed to mining and mineral development, has a projected 3-5-year EPS growth rate of 32.8%. It currently has a Zacks Rank #1 and a Value Score of B.

Encompass Health Corporation EHC, a provider of integrated healthcare services, has a projected 3-5-year EPS growth rate of 18.0%. It currently has a Zacks Rank #2 and a Value Score of A.

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Foot Locker, Inc. (FL) : Free Stock Analysis Report
 
Hibbett, Inc. (HIBB) : Free Stock Analysis Report
 
Conn's, Inc. (CONN) : Free Stock Analysis Report
 
Group 1 Automotive, Inc. (GPI) : Free Stock Analysis Report
 
ICL Group Ltd (ICL) : Free Stock Analysis Report
 
Teck Resources Ltd (TECK) : Free Stock Analysis Report
 
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(Rewrites with background on deal)

Oct 20 (Reuters) – BHP Group on Wednesday topped a takeover offer for Canadian nickel miner Noront Resources by billionaire Andrew Forrest's Wyloo Metals earlier this week, as the two miners vie for the key battery metal used in electric vehicles (EVs).

The months-long takeover battle highlights the efforts miners are taking to secure supply of key battery metals ahead of an expected EV boom as the world looks to cut emissions.

BHP increased its offer to C$419.3 million ($339.10 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday and giving shareholders of the Canadian firm 22 days to accept.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

Wyloo, Noront's top shareholder, did not immediately respond to a request for comment.

BHP, the world's biggest miner, said while it had Noront's backing for its improved offer, it did not require it and only needed 50% of shares to vote in favour.

Noront also did not respond immediately to a request for comment.

Wyloo had lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

($1 = 1.2365 Canadian dollars) (Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru; Editing by Aditya Soni and Subhranshu Sahu)

• A sample with 9,676 grams per tonne silver further confirms a high-grade silver zone

• Copper-molybdenum porphyry target mapped and sampled over a 400-metre trend

• Newly found gold bearing occurrences sampled over 200 metres

Vancouver, British Columbia–(Newsfile Corp. – October 19, 2021) –  Mountain Boy Minerals Ltd. (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA)  ("Mountain Boy" or the "Company") is pleased to report results from field work on its Theia project. These latest results extend previously known mineralized areas, some of which were discovered 30 years ago but passed over until Mountain Boy consolidated the property in 2020. The results also include some new discoveries, further confirming the highly prospective nature of this extensive and well-located project.

The 9,028-hectare (90 square kilometre) Theia property is located in the Golden Triangle of British Columbia, 15 km north of the historic Dolly Varden silver mine. There are logging roads within 10 km of the eastern boundary of the claims and the proposed Homestake Ridge Road is 12 km to the west.

Field work by Mountain Boy in 2021 on the western part of the project followed up on the high-grade silver occurrences that were identified in the 1990's. In 2020, the Mountain Boy geological team confirmed the historic occurrences and extended the mineralized trend to 500 metres (see News Release March 8^th, 2021). This year's program produced another confirmation grab sample in excess of a kilogram per tonne silver. The highlight was grab sample C0033201, that yielded 9,676 g/t silver, 1.59 g/t gold, 13.4% lead, 0.64% copper, 2.75% zinc.

A separate gold-bearing structure was mapped and sampled over an additional 200 metres and yielded three samples that returned 0.58, 0.33, and 0.14 grams per tonne gold, respectively, outlining the potential for a sizable gold-bearing system.

A new discovery was made on a nunatak (a rock exposure surrounded by glacier), also on the western part of the property, where several samples yielded multiple percent zinc values and anomalous silver. The mineralization is hosted within the Lower Hazelton volcanic rocks and characterized locally as breccia matrix or replacement style. Grab samples include:

– 3.24% lead and 27.47 g/t silver
– 3.03% zinc, 52.72 g/t silver, and 0.1% lead
– 1.63% zinc, 12.51 g/t silver, and 0.21% lead

(The reader is cautioned that grab samples are selective by nature and may not represent the true mineralization on the property).

On the eastern portion of the claims, the field crew investigated the molybdenum-copper porphyry showing that first attracted explorers to the area. Work by one of the majors in the 1960s identified the porphyry system, but little was done since then. Several samples were taken this year, including samples C0034086, C0034085, and C0034081 which assayed 0.24%, 0.20%, and 0.14% molybdenum respectively. These and other samples demonstrate molybdenum mineralization over a 400-metre trend. Recent work in conjunction with the earlier work suggests the potential for a sizable porphyry system.

Also in this area, the geological team confirmed gold values first identified in 1991. The gold occurs in the vicinity of the contact between an intrusive unit and the volcano-sedimentary host rocks, a favourable setting in the region. Float sample C0034101 yielded 2.59 grams per tonne gold and grab sample C0034102 yielded 0.83 grams per tonne gold, both taken this year. Further work is planned to evaluate the extent of this gold-bearing system.

The Theia project shares the southern claim boundary with Hecla's Kinskuch property, which according to Hecla's website (https://www.hecla-mining.com/kinskuch/) hosts potential for the discovery of epithermal silver-gold, gold-rich porphyry and volcanogenic massive sulfide (VMS) deposits. Teuton Resources and Silver Grail's Konkin Silver property shares the northern claim boundary, where drilling was recently conducted (http://teuton.com/properties/konkin-silver-property).

Lawrence Roulston, President and CEO commented: "The geological team is doing an outstanding job, building on historic results and making new discoveries. In a region as fertile as the Golden Triangle, these results point to the potential for sizable mineral occurrences. While we remain focused on our more advanced projects, Theia is emerging as another important project for Mountain Boy."

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway.

3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 metres long, highlighted by a recent grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.

6. The Telegraph project was consolidated by Mountain Boy in May 2021 and covers 23,600 hectares. Previous work shows that it has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle and is now seeing the first comprehensive exploration program.

Results are pending from a geophysical program on Southmore and from recent drilling on BA and American Creek.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Fraser Ruth
Investor Relations
(416) 274-3195

Kirsti Mattson
Corporate Communications/Media Relations
(778) 434-2241

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

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100141

Investors who take an interest in Empire Resources Limited (ASX:ERL) should definitely note that the Non-Executive Chairman, Michael Ruane, recently paid AU$0.011 per share to buy AU$302k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 48%.

View our latest analysis for Empire Resources

The Last 12 Months Of Insider Transactions At Empire Resources

In fact, the recent purchase by Michael Ruane was the biggest purchase of Empire Resources shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is AU$0.012. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the Empire Resources insiders decided to buy shares at close to current prices.

In the last twelve months Empire Resources insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

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

Does Empire Resources Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Empire Resources insiders own about AU$2.1m worth of shares. That equates to 19% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At Empire Resources Tell Us?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. When combined with notable insider ownership, these factors suggest Empire Resources insiders are well aligned, and that they may think the share price is too low. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Empire Resources. Every company has risks, and we've spotted 2 warning signs for Empire Resources you should know about.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

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

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

(Bloomberg) — BHP Group, the world’s biggest mining company, has raised its offer for Noront Resources Ltd., trumping a bid from iron ore billionaire Andrew Forrest and securing the support of the Canadian nickel miner’s board.

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The Melbourne-based company increased its bid by 36% to C$0.75 per share, above the C$0.70 offered by Forrest’s Wyloo Metals Pty Ltd.

BHP said the offer, which is open to shareholders until Nov. 9, doesn’t require the support of Wyloo to proceed, even though that company holds about 37% of Noront stock.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

“Noront and BHP believe that the offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects,” BHP said in a media statement.

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(Adds details from interview with BHP executive)

Oct 20 (Reuters) – BHP Group Ltd on Wednesday topped a takeover offer for Canadian nickel producer Noront Resources Ltd from billionaire Andrew Forrest's Wyloo Metals, as the two groups vie for greater access to the electric vehicle battery metal.

BHP, the world's biggest mining company, increased its all-cash offer to C$419.3 million ($339.1 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday

Wyloo, already Noront's top shareholder, this week lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

"We like the geology of the area, and Noront has the best land position in that area," Johan van Jaarsveld, BHP's chief development officer, told Reuters.

BHP gave shareholders of the Canadian firm 22 days to accept its latest offer.

The company, which earlier this year signed a deal to supply Tesla https://www.reuters.com/business/bhp-supply-nickel-tesla-australia-2021-07-21 Inc with nickel from its Australian operations, does not plan to build a Canadian smelter to process Noront's nickel and won't limit nickel sales from the project to North America, he said.

Should BHP's offer prevail, the mine would be run completely on renewable electricity, van Jaarsveld said.

"We certainly have the operating track record in nickel and the ability to build infrastructure in remote areas," he said, adding that BHP would be open to developing the asset jointly "with the right partner".

Neither privately held Wyloo nor Noront immediately responded to a request for comment.

BHP's offer requires at least 50% of Noront shareholders to tender in support, while Wyloo's offer would require a shareholder vote.

If Noront shareholders support BHP's offer, "this could all be over by mid-November," van Jaarsveld said.

($1 = 1.2365 Canadian dollars)

(Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru, and Ernest Scheyder in Houston; Editing by Aditya Soni, Subhranshu Sahu and Jan Harvey)

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

When Is Debt A Problem?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Gem Diamonds

How Much Debt Does Gem Diamonds Carry?

The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

A Look At Gem Diamonds' Liabilities

We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

Summing up

Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

MELBOURNE, Australia, October 18, 2021–(BUSINESS WIRE)–Rio Tinto welcomes the final report of the Joint Standing Committee on Northern Australia following its inquiry into the destruction of rock shelters at Juukan Gorge on the land of the Puutu Kunti Kurrama and Pinikura people (PKKP) in the Pilbara region of Western Australia.

Rio Tinto Chief Executive Jakob Stausholm said "We have been working hard to rebuild trust and meaningful relationships with the PKKP people and other Traditional Owners. Rio Tinto is absolutely committed to listening, learning and showing greater care, and this remains a top priority.

"We know this will take time and there will be challenges ahead, but we are focused on improving our engagement with Indigenous Peoples and our host communities to better understand their priorities and concerns, minimise our impacts, and responsibly manage Indigenous cultural heritage in and around our operations."

Following Rio Tinto’s Board Review of Cultural Heritage Management in August 2020, the company has introduced several changes to ensure heritage sites of exceptional significance, like the Juukan Gorge rock shelters, are protected and preserved.

Rio Tinto has also worked to address the recommendations made in the Committee’s interim report in December 2020 that weren’t addressed in the Board’s recommendations.

A comprehensive summary of the actions taken to strengthen heritage protection, restore trust with Traditional Owners, and drive cultural change within the business was outlined in last month’s Communities and Social Performance (CSP) Commitment Disclosure Interim Report.

The work being undertaken by Rio Tinto includes:

• Working closely with the PKKP on the ongoing remediation of the Juukan Gorge rock shelters.

• Undertaking a detailed review to ensure there are no other sites of exceptional cultural significance within the company’s existing mine plans. To date, Rio Tinto has reviewed 2,205 heritage sites.

• Commencing agreement modernisation discussions with ten Pilbara Traditional Owner groups and their representatives;

• Committing to work with Traditional Owner groups to co-design and implement leading practice cultural heritage management;

• Progressing the establishment of an Australian Advisory Group to inform policies and positions important to Indigenous Australians and the business;

• Building social performance capacity, capability and governance across the company. Across 60 sites in 35 countries, Rio Tinto now has more than 300 professionals working in Communities and Social Performance, up 20 per cent on last year.

As well as its overhaul of cultural heritage management and work to rebuild relationships with Traditional Owners, Rio Tinto is working to drive cultural change at every level of the business.

This includes important steps to grow Indigenous leadership, with $50 million invested to retain, attract and grow Indigenous professionals and leaders in Rio Tinto’s Australian business.

In Australia, all frontline Rio Tinto staff are undertaking cultural awareness training, with face-to-face training or e-learning with Indigenous Australians.

Rio Tinto Chief Executive, Australia, Kellie Parker said "Our determination not to repeat the events leading up to the destruction of the Juukan Gorge rock shelters is ingrained in everything we do.

"Significant changes have been made at all levels of our business and this is continuing. While we are confident we have put in place the right foundations for a better future, we know we will be judged by our actions and we are determined to get it right. The important work of the Committee has helped reinforce our priorities as we work to rebuild trust.

"We will continue to work in close consultation with Traditional Owners to better understand and protect their cultural heritage and ensure future mining activity is done in the right way, to create meaningful social and economic benefits.

"We thank the PKKP people and Traditional Owners everywhere for their engagement as we continue this vital work."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211017005075/en/

Contacts

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Vancouver, British Columbia–(Newsfile Corp. – October 18, 2021) – Lara Exploration Ltd. (TSXV: LRA) is pleased to report that widespread significant copper and silver mineralisation has been outlined by Valor Resources Ltd. (ASX: VAL) at the Picha Project in Southern Peru. Lara holds a 2% NSR royalty on any precious metals produced and a 1% NSR on copper and any other metals produced from the property.

Valor reported on October 11, 2021 that it has a program of surface mapping and sampling underway, with 144 sample results received and a further 150 expected in the coming weeks, from three target areas: Cobremani, Maricate and Cumbre Coya. Highlights from the sample results received to date include:

• 35.6m long channel sample averaging 1.3% Cu and 22.85g/t Ag at Cobremani;

• 10m long channel sample averaging 1.09% Cu and 6.36g/t Ag at Cobremani;

• Several samples >1% Cu and up to 13.4% Cu at the Maricate target area;

• High-grade copper mineralization at Maricate over 1km in extent

Valor notes in its release that upon completion of the current field program, ground geophysics and drilling is planned as follow-up.

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 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, Peru and Chile. 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/99696

PERTH, Australia, Oct. 18, 2021 (GLOBE NEWSWIRE) — Wyloo Metals Pty Ltd (“Wyloo Metals”) is pleased to announce it has reached an agreement with Noront Resources Ltd. (TSXV:NOT) (“Noront”) and formalized its offer to Noront shareholders as part of a comprehensive strategy to develop the Ring of Fire as a world-class Future Metals Hub.

Wyloo Metals’ superior offer is distinguished by several factors including offering shareholders true optionality alongside a superior cash offer. Pursuant to a statutory Plan of Arrangement under the Business Corporation Act (Ontario), each Noront shareholder will be given the option of (i) accepting cash consideration of Cdn$0.70 per share for some or all of their shares, and (ii) continuing to participate in Noront’s unrealized potential by remaining as a shareholder (the “Wyloo Offer”).

Wyloo Metals’ strategy will also see Noront revitalized under the leadership of a world-class Board of Directors led by Dr. Andrew Forrest AO, who has an unparalleled track record in the development of remote mining projects and a proud and continuing legacy of partnering with Indigenous and local communities. Dr. Forrest led Fortescue Metals Group (ASX: FMG) from a junior mining exploration company to one of the world’s largest mining companies.

Battery and hydrogen technologies are unleashing the full potential of renewable energy by making it available when and where it is required. These technologies, and the critical metals that they are built from, will positively impact future generations in ways we cannot yet imagine.

The Ring of Fire is home to expansive deposits of these metals and is ideally located near downstream markets, presenting a once-in-a-generation opportunity to transform Canada into a critical metals powerhouse.

Only Wyloo Metals' offer provides shareholders with the opportunity to share in that journey.

THE WYLOO OFFER IS SUPERIOR

There are four aspects of the Wyloo Offer that make it superior to the offer made by BHP Western Mining Resources International Pty Ltd (“BHP”):

• True optionality for Noront shareholders

  The underlying mineral value of the Ring of Fire is immense and, when developed, will support a multi-generational, critical metal mining district.

  Rather than forcing an all-or-nothing outcome upon Noront shareholders, the Wyloo Offer is a flexible proposal that allows shareholders to elect their preferred level of retained exposure to the immense future value of the Ring of Fire, while also providing an option to crystallize immediate cash value.

• A superior offer price

  The Noront Board of Directors has unanimously determined that the Wyloo Offer is superior. Consideration of Cdn$0.70 in cash per share represents a 192% premium to Noront’s unaffected closing price on May 21, 2021 and a 27% premium to the BHP offer of Cdn$0.55 in cash per share.

• Greater deal certainty

  Noront shareholders holding an aggregate of 10.3% of Noront’s common shares on a fully diluted basis, including certain Noront directors and senior management, will enter into lock-up agreements under which they agree to vote in support of the Plan of Arrangement. Together with Wyloo Metals, holders of 45.7% of Noront’s common shares on a fully diluted basis are supportive of the Wyloo Offer.

  Wyloo Metals does not intend to support any alternate offers for Noront. Without the support of Wyloo Metals’ 37.2% direct interest in Noront, a competing plan of arrangement cannot be successful and a competing take-over bid will be unlikely to meet any minimum tender condition.

• A world-class Board of Directors

  Noront will be revitalized under the leadership of a new Board of Directors, featuring some of the world’s most experienced mining leaders who are committed to deliver Noront’s true potential to its shareholders.

Wyloo Metals is the only bidder that can deliver this unique combination of benefits to Noront shareholders.

The Ring of Fire is a long-term mining district with a present-day value that is impossible to accurately quantify. Only the Wyloo Offer can provide Noront shareholders with comfort in the knowledge that they have received sufficient optionality and value for their ownership of Canada’s next great mineral hub."

Luca Giacovazzi, Head of Wyloo Metals

EXPECTED TIMING

Completion of the Wyloo Offer is expected to occur in December 2021. The Wyloo Offer is subject to BHP’s right to match period of 5 business days.

ADVISORS

Wyloo Metals has engaged Maxit Capital LP to act as its financial advisor and McCarthy Tétrault LLP to act as its legal advisor. Shorecrest Group has also been engaged to act as Wyloo Metals’ strategic communications advisor and proxy solicitation and information agent.

MEDIA CONTACT:

Andrew Bennett

M +61 427 782 503

P +61 8 6460 4949

E abennett@tattarang.com

AURORA STRATEGY SPOKESPERSON:

David Ellis

M 416 704 0937

P 416 704 0937

E davide@aurorastrategy.com

ABOUT WYLOO METALS

Wyloo Metals is the metals and mining subsidiary of Tattarang, one of Australia’s largest private investment groups. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public and private companies. Wyloo Metals seeks to work closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards. See more at: www.wyloometals.com.

Wyloo Canada Holdings Pty Ltd (“Wyloo Canada”), a wholly owned subsidiary of Wyloo Metals, currently holds an aggregate of 208,434,427 common shares of Noront, representing approximately 37.24% of the outstanding common shares of Noront. Wyloo Canada also holds warrants (“Noront Warrants”) to acquire 1,774,664 common shares of Noront at an exercise price of Cdn$0.35 per share. If the Noront Warrants are also fully exercised, Wyloo Canada would hold 210,209,091 common shares of Noront, representing approximately 37.43% of the outstanding common shares of Noront on a partially diluted basis.

DISCLAIMER

Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo Metals does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Wyloo Metals and its affiliate companies be liable to anyone for any decision made or action taken in connection with the information and/or statements in this press release or for any related damages.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed under Noront’s profile on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of such report may be obtained by contacting Wyloo Metals at info@wyloometals.com. The address of Wyloo Metals is PO Box 3155, Broadway Nedlands, WA 6009 Western Australia.

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX: DNT, BVL: DNT) ("Candente Copper", "the Company") is pleased to announce that Candente Copper and Gold Fields La Cima S.A., a subsidiary of Gold Fields Limited, have conditionally agreed to commercial terms for Gold Fields to option the Arikepay copper-gold porphyry property in Southern Perú.

Terms

• Cash Payments totalling up to US$1,790,000 over 10 years:

1) US$100,000 on signing of Definitive Agreement;
2) US$40,000 upon receiving drilling permits;
3) US$100,000 on first and second anniversaries;
4) US$150,000 per year until Year 5;
5) US$200,000 per year for the next 5 years

• Exploration commitments are:

1) US$3.5M over 3 years to reach 51% interest;
2) An additional US$3.5M over another 2 years (5 yrs total) to reach 70% interest;
3) Complete Feasibility and make a payment of US$10M within 10 yrs to reach 100% interest, subject to a 2.5% Net Smelter Return (“NSR”);
4) The 2.5% NSR has an option to buyout 1.5% Interest for US$6M

The proposed terms are subject to the execution and completion of a Definitive Agreement by both parties which will layout further details currently still under discussion.

“We are excited to work on completing the Definitive Agreement with Gold Fields so that we can explore and advance the Arikepay Property with such a well established and successful company. This is a great time of world demand for both gold and copper and Arikepay shows excellent potential for both. Working with Gold Fields on Arikepay, while we are dedicating so much to our Cañariaco copper project and the 2021 PEA, is a great way to add shareholder value,” stated Joanne Freeze, CEO, Candente Copper Corp.

About the Arikepay Property
The Arikepay property, held by Cobriza Metals Peru S.A., (“Cobriza”), subsidiary of the Company, is located about 110 kilometres (“km”) south of the city of Arequipa in southern Perú and 45 km south of the +3 billion tonne Cerro Verde copper-molybdenum porphyry deposit, owned by Freeport, SMM Cerro Verde Netherlands and Buenaventura.

Two altered and mineralized bodies have been found on the property. Alteration comprises propylitic, phyllic, silicic and potassic altered volcanic and intrusive rocks. Mineralization consists dominantly of pyrite ranging from <1% to >10% in disseminations and veinlets with lesser amounts of chalcopyrite, bornite and magnetite.

Two drilling programs have been completed on the property to date. Cobriza completed a reverse circulation (“RC”) drill program in June 2012 totalling 3,630 metres (“m”) in 14 holes and a third party, Compania Minera Zahena S.A.C. (“Zahena”) drilled 8,908m in 14 drill holes between Dec 2013 and March 2017.

Cobriza and Zahena both initially focused on the copper potential but since 2017, Cobriza recognized a stronger potential for gold mineralization at Arikepay.

Selected highlights of copper mineralization from the RC drilling program included:

• 142m of 0.51% CuEq*

• 186m of 0.43% CuEq*

• 292m of 0.39% CuEq*

Selected highlights of gold mineralization from the drilling programs included:

• 81m of 3.05 grams per tonne (“g/t”) gold (“Au”) and 2.04 g/t silver (“Ag”)

• 18m of 1.09 g/t Au and 0.1 g/t Ag

• 26m of 1.29 g/t Au and 4.5 g/t Ag

*Copper equivalent (CuEq) grades include gold and silver values based on 100% metal recoveries and the following metal price assumptions: US$1,200 per troy ounce gold, US$20 per troy ounce silver, and US$2.50 per pound copper.

About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company’s most advanced project is its 100% owned Cañariaco project, which includes the Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru. Ausenco Engineering Inc. has been engaged to conduct an updated Preliminary Economic Assessment Study (“PEA”) to evaluate a new development strategy for the Cañariaco Norte Project. The updated PEA study is estimated to be completed before the end of Q4 2021.

Candente Copper also holds 100% interest in the Don Gregorio and Arikepay properties in Peru and has an option to earn 100% interest in the Canyon Creek copper-molybedum property in B.C., Canada.

About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with nine operating mines in Australia, Ghana (including the Asanko Joint Venture), Peru and South Africa, and with the Salares Norte project under construction in Chile. It has attributable gold Mineral Reserves of around 51.3 million ounces and gold Mineral Resources of around 115.7 million ounces. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with a secondary listing on the New York Stock Exchange (NYSE).

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

This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to the potential execution of a definitive agreement with Goldfields, for discovery on the Cañariaco Property and other statements that are not historical facts including comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, the completion of a favourable PEA and the expected results thereof and the acquisition of various permits. While such forward-looking information is expressed by Candente Copper in good faith and believed by Candente Copper to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Copper’s MD&A. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, metal prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Copper expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

On behalf of the Board of Candente Copper Corp.

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

NR-141

• Noront Board of Directors unanimously determines Wyloo Metals Offer of C$0.70 per share to be a Superior Proposal

• Proposed consideration of C$0.70 in cash per share represents a 192% premium to Noront’s unaffected closing price on May 21, 2021 and a 27% premium to BHP’s C$0.55 per share offer

• BHP has five business days to match Wyloo’s offer

TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront” or the “Company”) (TSXV: NOT) today announced it has settled the terms of a proposal from Wyloo Metals Pty Ltd. and Wyloo Canada Holdings Pty Ltd (together, “Wyloo Metals”) under which Wyloo Metals would acquire up to 100% of the common shares of Noront for C$0.70 in cash pursuant to a statutory plan of arrangement under the Business Corporation Act (Ontario) (the “Wyloo Offer”). The consideration of C$0.70 in cash per share under the Wyloo Offer represents a 192% premium to Noront’s unaffected closing price on May 21, 2021 and a 27% premium to the BHP Western Mining Resources International Pty Ltd (“BHP”) C$0.55 per share offer (the “BHP Offer”).

Under the proposed arrangement agreement between Noront and Wyloo Metals (the “Arrangement Agreement”), Noront shareholders would be entitled to elect to sell all or a portion of their common shares to Wyloo Metals for C$0.70 per share. Shareholders who opt to retain their Noront common shares would continue as common shareholders in the Company going forward.

The Noront Board of Directors, on the basis of a recommendation from independent directors comprising Noront’s Special Committee of the Board of Directors, and supported by advice from external financial and legal advisors, has unanimously determined that the Wyloo Offer constitutes a superior proposal as compared to the outstanding BHP Offer.

Noront CEO, Alan Coutts: “Based on an evaluation by the Special Committee and its advisors, the Noront Board of Directors has determined that Wyloo Metals’ proposal represents superior value for our shareholders, compared to the offer by BHP."

BHP Right to Match
Pursuant to the terms of the support agreement among Noront, BHP and BHP Lonsdale Investments Pty Ltd (the “Support Agreement”), once the Company has determined that a superior proposal has been received, BHP has the right, but not the obligation, to offer to amend the terms of the BHP Offer. BHP has five business days from receiving notice of the superior proposal in accordance with the terms of the Support Agreement to negotiate with Noront, should BHP decide to do so, to amend the terms of the existing Support Agreement such that the Wyloo Offer is no longer considered by the Noront Board of Directors to be superior to the amended BHP offer. The Noront Board of Directors will, in good faith, review any such amended offer by BHP in order to determine whether such amendment would result in the Wyloo Offer no longer being a superior proposal when assessed against any such amended BHP offer. If BHP does not exercise its right to match within the period provided for in the Support Agreement, the Support Agreement will be terminated in accordance with its terms and the Arrangement Agreement will be immediately entered into by the Company and Wyloo Metals.

If the Arrangement Agreement is entered into, Wyloo Metals has also agreed to provide a loan to Noront of up to C$23 million (the "Wyloo Loan") to finance, among other things, the termination payment of C$13 million payable to BHP upon the termination of the Support Agreement, as well as other transaction related costs. The term of the Wyloo Loan will be 12 months from completion of the Wyloo transaction, with interest of 5% per annum payable quarterly in either cash or common shares of Noront, at the option of Noront and subject to receiving shareholder approval for the payment of interest in common shares of Noront, and subject to the approval of the TSXV Venture Exchange.

It is expected that, if the Support Agreement is terminated, certain Noront shareholders, including Noront directors and senior management, will enter into lock-up agreements under which they will agree to vote in support of the Wyloo Offer. Wyloo Metals currently holds approximately 37.25% of the Noront common shares.

The terms of the Arrangement Agreement, if executed, will provide that Wyloo Metals will be entitled to a termination payment of C$17 million (equal to approximately 4% of the total equity value of the transaction based on 100% of Noront’s fully diluted shares outstanding) if the Arrangement Agreement is terminated in certain circumstances. This termination payment will not be payable if BHP elects to match the Wyloo Offer and Noront and Wyloo Metals therefore do not enter into the Arrangement Agreement.

There is no action for Noront shareholders to take today. If Noront enters into the Arrangement Agreement with Wyloo Metals, additional information will be provided to Noront shareholders in advance of a Special Meeting of Shareholders to vote on the plan of arrangement. The applicable materials will also be available under Noront's profile on SEDAR at www.sedar.com, and on Noront's website at www.norontresources.com. The Company will continue to provide updates as developments warrant.

The entering into of the Wyloo Loan between Wyloo Metals and Noront, is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Wyloo Metals has beneficial ownership of, and control or direction over, directly or indirectly, securities of the Company carrying more than 20% of the voting rights attached to all of Noront's outstanding voting securities. The Company did not file the material change report more than 21 days before the expected completion of the Wyloo Loan as the details of the Wyloo Loan were not settled until shortly prior to the announcement of the Wyloo Loan. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(b) of MI 61-101 as the Company is not listed on a specified market under MI 61-101. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(f) of MI 61-101.

Advisors
TD Securities Inc. is acting as financial advisor, Bennett Jones LLP is acting as legal counsel and Longview Communications & Public Affairs is acting as communications advisor to Noront.

About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Forward Looking Statements
Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding: the Wyloo offer; the BHP Offer; and the BHP right to match.

Although Noront believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of the Special Committee of Noront as of the date hereof. Noront cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Noront, BHP, BHP Lonsdale Investments Pty Ltd or Wyloo Metals, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront or its future results and performance.

Forward-looking information and statements in this news release are based on Noront's beliefs and opinions at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Noront disavows and disclaims any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Noront.

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.

Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, Oct. 18, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Uranium, Strategic and Precious Metals Investor Conference on October 19^th, 20^th, 21^st. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of metals and mining companies discuss their property positions, development schedules, market opportunity, and investment highlights.

REGISTER NOW AT: https://bit.ly/3mTfIO2

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

"OTC Markets is excited to host the three-day Uranium, Strategic and Precious Metals Investor Conference," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We appreciate the collaboration with our co-sponsor, Viriathus, and look forward to hearing from today's industry leaders."

October 19^th Agenda – Uranium:

October 20th Agenda – Strategic and Precious Metals:

October 21^st Agenda – Strategic and Precious Metals:

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit
www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

SOURCE VirtualInvestorConferences.com

View original content: http://www.newswire.ca/en/releases/archive/October2021/18/c1311.html

Southern Copper (SCCO) shares soared 5.1% in the last trading session to close at $66.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.5% gain over the past four weeks.

Southern Copper’s share price has gained on the back of higher copper prices. Copper prices continue to rally on growing concerns that the global energy crunch and high energy prices would hit production.

This miner is expected to post quarterly earnings of $1.13 per share in its upcoming report, which represents a year-over-year change of +73.9%. Revenues are expected to be $2.7 billion, up 27% from the year-ago quarter.

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

For Southern Copper, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SCCO going forward to see if this recent jump can turn into more strength down the road.

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

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(Bloomberg) — Canadian miner Noront Resources Ltd. agreed to be acquired by Andrew Forrest’s Wyloo Metals Pty Ltd. in a deal that tops a rival offer from BHP Group.

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Noront agreed to Wyloo’s “superior” offer of C$0.70 a share, which represents a 27% premium to BHP’s friendly offer of C$0.55 from July, the Toronto-based company said Monday in a statement. BHP has been given five business days to match the offer from the firm controlled by Forrest, an Australian mining magnate.

Shares of Noront fell 6.2% to C$0.76 at 9:55 a.m. in trading in Toronto.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

Wyloo already owned about 24% of Noront’s stock and took further steps last month to lift its stake to 37.3% by swapping convertible debt into common shares. Wyloo said in August that its unsolicited proposal was more likely to succeed because it owns a chunk of Noront shares and doesn’t intend to support BHP’s offer. The deal values Noront at about C$321 million ($259 million), based on approximately 458.5 million shares outstanding as of July 31.

Noront’s main asset is the Eagle’s Nest deposit in Ontario, whose mineral wealth includes nickel, copper, chromite and zinc.

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