Figure 1.

Fenelon Gold, Plan View

Figure 2.

Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section

Figure 3.

Figure 3. Fenelon Gold, Cross Section 9500_E

TORONTO, Sept. 15, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce that exploration drilling on the Fenelon Gold Property (“Fenelon” or the “Property”) continues to successfully expand gold mineralization with high-grade intersections at both the eastern and northwestern edges of the area tested by resource drilling to date.

In the northwest, exploration drilling has successfully expanded the footprint of Area 51, with near surface intersections including 11.60 g/t Au over 14.05 metres in FA-21-297.

In the east, exploration drilling to follow-up the discovery hole of the Gabbro Zones, East Extension (17.79 g/t Au over 16.60 metres in drill hole FA-21-219, see Wallbridge news release dated April 29, 2021), has confirmed the presence of strong gold mineralization, with the first follow-up hole (FA-21-305) returning 9.00 g/t Au over 10.00 metres. Assays for the remaining three holes drilled to the east are pending.

“We continue to be impressed by the expansion potential at Fenelon and are now, with all drilling required for our maiden mineral resource estimate (“MMRE”) completed, excited to ramp-up our exploration drilling efforts to confirm extensions of known gold zones and to discover new zones. The drilling results in this news release represent high-grade gold mineralization on the edges of our known mineralized footprint and highlight the excellent potential for future resource growth at Fenelon,” stated Marz Kord, President & CEO of Wallbridge.

The MMRE for Fenelon, along with the updated resource estimate for Martiniere, are well underway and nearing completion. The prolonged assay turn-around times due to high volumes experienced industry-wide has delayed the receipt of critical assay results in support of the MMRE. The Company now expects to announce the mineral resource statements by the end of October.

With the resource drilling in support of the MMRE completed, Wallbridge has ramped up its exploration program at Fenelon to continue expanding the footprint of the known gold system and discover additional gold zones in the vicinity of the Fenelon deposit. Regional drilling on the Company’s extensive, underexplored land package is also underway with two drill rigs currently focusing on resource expansion drilling at Martiniere and testing grassroots exploration targets on the adjacent Casault Property (see Wallbridge news release dated July 22, 2021).

Area 51, Exploration Drill Results

Exploration drilling continues to expand the footprint of Area 51, especially toward the west-northwest, where much of the major host rock, the Jeremie Diorite, remains untested. The following two recent highlight intersections from this area occur near surface, at vertical depths of 35-45 metres (FA-21-297) and 110-115 metres (FA-21-272):

Gabbro Zones, East Extension, Exploration Drill Results

Four drill holes were drilled this summer to follow-up on the Gabbro Zones, East Extension discovery in drill hole FA-21-219, which yielded 17.79 g/t Au over 16.60 metres (see Wallbridge news release dated April 29, 2021). All of the holes intersected alteration and mineralization characteristic of the gold-bearing system.

Assay results of an intersection in the first follow-up drill hole (FA-21-305), representing an approximately 120-metre overcut to the original FA-21-219 discovery, confirm the presence of a high-grade mineralized zone in this area:

Assay results for the other three holes are still pending.

2021 Drilling Program Update

In 2021, the Company is planning to complete between 150,000 to 170,000 metres of drilling, including 20,000 to 25,000 metres devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Assay results of eight drill holes of the 2021 exploration drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/928932c6-f3d2-48ca-ae85-803bdb12dbc7

https://www.globenewswire.com/NewsRoom/AttachmentNg/044f1c8c-a403-4997-8dc9-a4d416678a47

https://www.globenewswire.com/NewsRoom/AttachmentNg/b71056ed-ed0d-421b-a859-373ebd9817a8

⁽¹⁾ Table includes only assay results received since the latest press release dated August 5, 2021.
⁽²⁾ Au cut at: 100 g/t Au for the Tabasco/Contact zones; 60 g/t Au for the Cayenne zones; 50 g/t Au for the Area 51 zones.
⁽³⁾ Intervals containing visible gold ("VG").
⁽⁴⁾ Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.

Note: True widths are estimated to be 50‒80% of the reported core length intervals.

Assay QA/QC and Qualified Persons

Drill core samples from the ongoing 2021 drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. In 2020 samples were submitted to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, AGAT and Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.

About Wallbridge Mining

Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property which is located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company completed approximately 102,000 metres of drilling in 2020 and currently conducting a fully‒funded 2021 program of approximately 150,000 to 170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource estimate on the Fenelon Gold System in October, 2021.

Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge's land holdings in Québec along the Detour‒Fenelon Gold Trend are over 900.0 km², improving Wallbridge's potential for further discoveries for over 90‒kilometre strike length in this underexplored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.

This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

For further information please visit the Company's website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited

Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com

This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, “potential”, “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.

Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward‒looking statements contained in this press release.

Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

TORONTO, Sept. 15, 2021 /CNW/ – The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) declared today a quarterly cash dividend of $2.10 per Common Share. The dividend is payable to holders of record at the close of business on September 30, 2021 and is to be paid on October 26, 2021.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/September2021/15/c0665.html

(Bloomberg) — Teck Resources Ltd. is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion, people with knowledge of the matter said.

The Canadian miner is working with an adviser as it studies strategic alternatives for the business, which is one of the world’s largest exporters of the steelmaking ingredient, the people said, asking not to be identified discussing confidential information.

Shares of Teck were up 4.7% at 1:04 p.m. in Toronto, giving the company a market value of about C$17.4 billion ($13.7 billion).

Large commodity producers are under increasing pressure to cut back on fossil fuels in response to investor concerns over climate change. BHP Group last month agreed to sell its oil and gas assets to Australia’s Woodside Petroleum Ltd. and is seeking to exit some of its coal operations. Anglo American Plc spun off its South African coal unit for a separate listing in June.

Exiting coal could free up resources for Teck to accelerate its plans in commodities like copper, as demand shifts to the building blocks of an electrified global economy. Deliberations are at an early stage, and Teck could still decide to keep the business, the people said.

A representative Teck declined to comment.

Teck produced more than 21 million metric tons of steelmaking coal last year from four locations in western Canada. The business accounted for 35% of the company’s gross profit before depreciation and amortization in 2020, according to its website.

Metallurgical coal is a key raw materials used in steelmaking, which remains one of the most polluting industries on the planet and faces significant pressure from policymakers to clean up its act. China, the world’s largest metal producer, has indicated it will curb steelmaking in an effort to reduce carbon emissions.

Prices of metallurgical coal prices have continued to rise this year as bets on a global economic recovery fuel frenzied demand for steel. This helped Teck swing to a second-quarter net income of C$260 million, compared with a C$149 million net loss the same period last year.

(Updates with share move in third paragraph)

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The FTSE 100 was struggling for a foothold on gains Tuesday, as its heavily weighted mining sector logged losses.

Vancouver, British Columbia–(Newsfile Corp. – September 14, 2021) – InZinc Mining Ltd. (TSXV: IZN) (the "Company") is very pleased to announce further results from exploration activities at the Indy Sedex project ("Indy") in central British Columbia where near surface, high-grade Sedex-type zinc mineralization was discovered by soil geochemical sampling and follow-up drilling in 2018. Additional soil sampling results are pending.

Echo – 1.9 km Long Zinc Target Defined
Further to a news release on August 31, 2021 (see NR2021-08), additional geochemical results¹ have extended strong soil responses in the area located between Anomaly C and the Delta Horizon target. These results now show strong, coincident, multi-element (Zn, Pb, Ba), multi-station soil responses over 1.9 km in this area of the 7 km long Main Trend. Named Echo, this is the largest target yet defined and possibly the largest untested zinc exploration target in a readily accessible region of Canada.

Main Trend – Echo Target 2021 Zinc in Soil

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6480/96421_121287d284282a12_001full.jpg

Numerous samples have returned 800 to 1000 ppm zinc with highs of up to 3700 ppm (0.37%). Barium in soil, coincident with zinc responses, is also very strong (ranging from 2000 ppm to exceeding detection limits of analysis at 10,000 ppm or 1.0%) relative to other targets. This continuous and linear soil geochemical anomaly is consistent with stratigraphic or contact related mineralization, possibly associated with a distal Sedex environment.

"These additional strong results now complete the definition of the new Echo Target – the largest of all the Sedex -type targets currently outlined in the Main Trend at Indy. With 6.5 km of high-quality zinc targets, Indy has now matured into a very prospective project with potential for regional-scale discoveries," commented Wayne Hubert, CEO of InZinc. "We see years ahead of exploration and drilling programs self-funded through the significant cash payments to be received as a result of the West Desert option agreement which closed on June 2, 2021 (see NR2021-05)."

About InZinc
InZinc is focused on growth through exploration and advancement of its interest in multiple North American base metals projects. The road accessible Indy project (100% earn-in), located in central British Columbia, comprises discoveries of near surface mineralization and large untested exploration targets along a 25km long trend with potential for the discovery of a new regional scale zinc belt. The West Desert option (100% option to American West Metals) provides significant cash payments and continuing leverage through ownership in American West Metals as it funds the advancement of the West Desert project to prefeasibility (planned in Q3 2023) and the Storm Copper and Copper Warrior projects in North America. In addition, upon exercise of the West Desert option, InZinc will receive 50% of the revenue from the sale of indium mined from West Desert.

InZinc Mining Ltd.

Wayne Hubert

____________

Chief Executive Officer
Phone: 604.687.7211
Website: www.inzincmining.com

For further information contact:
Joyce Musial
Vice President, Corporate Affairs
Phone: 604.317.2728
Email: joyce@inzincmining.com

¹Dave Heberlein, M.Sc., P.Geo. of Heberlein Geoconsulting has reviewed, validated, and provided interpretive summaries for the results of the Phase 1 2021 geochemical program.

Qualified Person
Brian McGrath, B.Sc., P.Geo. a Qualified Person as defined in NI43-101, has approved the technical content of this news release.

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "plan", "design", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results, performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company's Management Discussion and Analysis for the year ended December 31, 2020 and for the three months ended March 31, 2021 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96421

Canada's premier equities market to celebrate TSX30 companies today in a
virtual market open ceremony

TORONTO, Sept. 14, 2021 /CNW/ – Toronto Stock Exchange (TSX) today announced the 2021 TSX30™, the Exchange's flagship program showcasing the 30 top-performing stocks over a three-year period, based on dividend-adjusted share price performance. The annual ranking serves to spotlight the achievements and sustained success of TSX's leading listed companies while also highlighting the depth and diversity of Canada's powerful capital markets ecosystem.

Representatives from the TSX30 companies will join TMX Group executives to virtually open the market this morning at 9:30 a.m. ET to celebrate their success.

"Public companies on our world-class Exchanges play a critical role in creating jobs and driving economic activity. Despite challenging times, the 2021 TSX30 and many more of our listed companies across all sectors have continued to lead the way; pursuing adaptive, future-focused business plans and generating growth for their shareholders, industries, and the communities in which they operate," said Loui Anastasopoulos, President, Capital Formation and Enterprise Marketing Officer, TMX Group. "On behalf of all of us at TSX, I'd like to congratulate the 2021 TSX30 winners for their achievements and look forward to continuing to work with them to support their future success."

14 out of the 30 companies on the 2021 TSX30 list are from the mining industry and five are from the technology sector. While those sectors are well-represented, the ranking spans several industries and includes a cross-section of established and emerging companies.

Other highlights from this year's ranking include:

• TSX30 companies created $248B of market capitalization growth over the past three years and average adjusted shareholder returns of more than 300%

• 60% of the companies on this year's list are not on the S&P/TSX Composite Index*, demonstrating the diversity of investment opportunities in Canada's premier equities market

• 11 of the 30 companies on this year's list are graduates of the junior TSX Venture Exchange, highlighting the strength of TMX Group's two-tiered capital formation ecosystem

For detailed results, ranking methodology, and thought leadership, visit: www.tsx.com/tsx30.

The 2021 TSX30 ranking:

* The S&P/TSX Composite Index (the "Index") is the product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and TSX Inc. ("TSX"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and TSX® is a registered trademark of TSX. SPDJI, Dow Jones, S&P, their respective affiliates and TSX do not sponsor, endorse, sell or promote any products based on the Index and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Index or any data related thereto.

About TMX Group (TSX-X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.

This news release is not, and should not be construed as an invitation to purchase the referenced securities or other securities listed on TSX. TMX Group and its affiliates do not endorse or recommend any of the referenced securities nor should any statement in this news release be construed as advice regarding a broad investment strategy. Listing on TSX does not guarantee the future performance of a security or an issuer. Please seek professional advice to evaluate specific securities.

SOURCE TMX Group Limited

View original content: http://www.newswire.ca/en/releases/archive/September2021/14/c3723.html

MELBOURNE (Reuters) – BHP Group on Tuesday laid out its aim to achieve net zero emissions by 2050 from the operations of its customers by working with them to cut carbon out of their processes.

BHP, the world's biggest miner, has already committed to extinguishing emissions directly from its own operations and lowering its indirect emissions through means such as using more power from renewable sources by then as well.

Steelmaking is one of the world's most heavily polluting industries and the shift to focus on net zero emissions from the use of its raw materials by the sector marks an escalation in its efforts. BHP said its definition of reaching net zero includes the use of carbon offsets.

The miner characterised its aim as an ambitious "goal" rather than a concrete target, since it has yet to determine a specific pathway to reach it.

Steelmaking is expected to be one of the slower sectors to decarbonise because it requires the combustion of carbon and iron at high temperatures, creating carbon dioxide as a byproduct.

Although steelmakers and Australia's iron ore miners are working on the production of carbon-free steel from iron ore, potentially using hydrogen, the process is not expected to become economic until late this decade at the earliest.

"The most significant contributions to our reported Scope 3 inventory come from the emissions generated by steelmaking through the processing of iron ore and metallurgical coal," BHP said.

Those emissions represent 96% of BHP’s total reported emissions, which during last financial year stood at 418.7 million tonnes of carbon dioxide equivalent.

(Reporting by Melanie Burton; Editing by Tom Hogue)

MELBOURNE, Australia, September 14, 2021–(BUSINESS WIRE)–Rio Tinto and Caterpillar have signed a Memorandum of Understanding (MoU) for Caterpillar’s development of zero-emissions autonomous haul trucks for use at one of Rio Tinto’s Western Australian mining operations.

The collaboration will see Rio Tinto work with Caterpillar to advance the development of the manufacturer’s future 220-tonne 793 zero-emissions autonomous haul truck including the validation of Caterpillar’s emerging zero-emissions technology.

Rio Tinto and Caterpillar will progress a series of development milestones to include a 793 prototype pilot program, testing and pre-production trials.

It is anticipated that the world’s first operational deployment of approximately 35 new Caterpillar 793 zero-emissions autonomous haul trucks will be at Gudai-Darri once development is complete. Gudai-Darri is Rio Tinto’s most technically advanced iron ore mine, in the Pilbara, Western Australia

Rio Tinto’s Chief Commercial Officer Alf Barrios said "Our ambition to reach net zero emissions across our operations is a priority. Reaching this ambition will require new and innovative solutions and partnerships with supplier partners like Caterpillar. This collaboration represents a small but important step on that journey.

"We look forward to working together to validate these zero-emissions haul trucks in just a few years’ time. The advanced technology at Gudai-Darri puts it at the forefront of new mining operations globally and we look forward to adding Caterpillar zero-emissions haul trucks to the site."

Caterpillar Group President Denise Johnson said, "The integration of autonomy with a zero-emissions fleet demonstrates Rio Tinto’s commitment to reach net zero emissions.

"By leveraging these technologies across their sites, Rio Tinto can more safely increase productivity, efficiency and be more sustainable. We are pleased to be part of Rio Tinto’s sustainability journey and look forward to building on our long-standing collaboration."

In June, Rio Tinto announced it would deploy the world’s first fully autonomous water truck at Gudai-Darri, which will also be produced by Caterpillar. Rio Tinto is assessing multiple project scopes for Gudai-Darri Phase 2 as part of an ongoing $44 million pre-feasibility study.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914006181/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

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

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

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

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 Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

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

Vancouver, British Columbia–(Newsfile Corp. – September 14, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company", or "EMX") is pleased to announce that it expects to receive an initial quarterly after-tax payment of approximately US$974,000 from the Company's effective 0.418% net smelter return royalty ("NSR") interest in the Caserones Copper-Molybdenum Mine ("Caserones") in northern Chile. This payment to EMX, anticipated later this month, is based upon second quarter ("Q2",i.e., April – June) royalty distributions for copper and molybdenum production.

As previously reported, EMX formed a 50%-50% strategic partnership with Altus Strategies Plc ("Altus") (AIM: ALS; TSX Venture: ALTS; OTCQX: ALTUF) to acquire an effective 0.836% NSR royalty on Caserones (the "Caserones Royalty") for US$68.2 million. EMX and Altus each control an effective 0.418% royalty interest after each contributed US$34.1 million towards the Caserones Royalty purchase price (see EMX news releases dated August 17, August 23, and September 3, 2021). The effective date of the Caserones Royalty acquisition was April 1, 2021, and as a result will include proceeds from Q2, 2021, thereby establishing immediate cash flow to EMX.

EMX's effective royalty interest in the Caserones Royalty has secured a source of long-term proceeds from copper-molybdenum production in one of the world's top copper mining regions.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX", as well as on the Frankfurt exchange under the symbol "6E9". Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

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

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

Forward-Looking Statements

This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the second closing of the Caserones royalty purchase, , expected cash flows from EMX's interest in the Caserones royalty, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential", "upside" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: failure of the vendors under the Share Purchase Agreement to perform their obligations, fluctuations in or problems with production from the Caserones mine, unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the "MD&A"), and the most recently filed Revised Annual Information Form (the "AIF") for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96458

MELBOURNE (Reuters) – Fortescue Metals Group has reached a deal with the Wintawari Guruma Aboriginal Corporation (WGAC) to oversee development of new mines at its Solomon Hub iron ore operations in Western Australia, the groups said in a statement.

The pact comes as miners revise the way they negotiate with traditional land owners, following Rio Tinto's destruction of culturally and historically important rock shelters last year.

The destruction cost Rio's chief executive and two senior leaders their jobs, sparked a public furore and a parliamentary inquiry set to deliver its findings next month. Last year, BHP set up a new heritage council with the Banjima people.

"Working collaboratively, we will ensure that Eastern Guruma people are active participants in the future development of mines on our country," Wintawari Chair Glen Camille said in the statement.

The arrangement would enable deeper consultation over protection of culturally significant sites while building a better future for the people, he added.

Formerly at loggerheads, Fortescue and WGAC are to form a co-management joint venture to develop the East and West Queens deposit that is part of the miner's Solomon hub, which has annual production capacity of 75 million tonnes of iron ore.

It will work on all stages of the mine development.

Fortescue delayed 2019 royalty payments to WGAC after the group missed its timeline for consent, though WGAC told the parliamentary inquiry it had been waiting for more information, as the area had numerous sacred sites.

The group was unhappy with how Fortescue preserved another site, as well as its approach. In February, Fortescue apologised to WGAC for clearing land on a heritage site without ensuring elders were present as had been agreed.

Mining tenements cover more than 93% of Eastern Guruma country, making it one of the most heavily explored regions in Australia, WGAC has said.

Fortescue runs the large Solomon mine and a rail line on Eastern Guruma country while Rio runs six mines and three rail lines. Both firms are seeking approval for significant expansion, WGAC said.

(Reporting by Melanie Burton; Editing by Clarence Fernandez)

(Adds details on coal unit, industry background, shares)

Sept 14 (Reuters) – Teck Resources Ltd, is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion, Bloomberg News reported on Tuesday, citing sources.

Large commodity producers have been facing investor pressure to shift away from fossil fuel business, including by shedding assets, amid a push to reduce carbon emission and halt climate change.

The company is working with an adviser as it looks for strategic alternatives for the unit, the report https://bloom.bg/3lhsrsY said.

Teck Resources declined to comment on the report.

The company's sales from its steelmaking coal unit was 6.2 million tonnes in the second quarter, a 24% jump from year earlier.

Steel prices has been rising since the second quarter, helped by higher demand for the metal as economies recover and demand picks up after being hit by the coronavirus pandemic.

The miner said in July that wildfires in British Columbia, Canada's westernmost province, disrupted rail services and this was likely to weigh on its steelmaking coal business unit for the third quarter.

U.S. listed shares of the miner were up as much as 6.4% at $26.17 in afternoon trading. (Reporting by Sahil Shaw and Rithika Krishna in Bengaluru; Editing by Arun Koyyur)

(Bloomberg) — BHP Group said it will target net-zero greenhouse gas emissions from its direct suppliers and the shipment of its products by 2050, but stopped short of extending it to steelmaking customers due to what it describes as the technical challenges facing the industry.

The Melbourne-based company’s Scope 3 emissions — which include procurement and shipping as well as end-user emissions — were 402.5 million tons of carbon dioxide-equivalent in the year ended June 30, BHP said in a climate plan announced Tuesday. That’s more than the total emissions of the U.K. and account for 96% of its overall emissions.

While steel is an important component in many of the products driving the decarbonization process, its production accounts for as much as 10% of global greenhouse gas emissions — and about three quarters of BHP’s Scope 3 emissions. The company says it’s working with industry giants including Japan’s JFE Steel and China’s HBIS Group on ways to reduce manufacturers’ carbon footprint.

“There are a number of global uncertainties that must be reckoned with in terms of achieving net zero in steel,” BHP said in the report, including the timeline for finding economical solutions to decarbonize the steel-making process. While some steel producers are trialling the use of hydrogen as a cleaner alternative to coal, the company has said the technology faces headwinds in terms of cost and storage.

Read: BHP Quits Oil, Piles Into Potash in Overhaul for CEO Henry

Both BHP and Rio Tinto Group, the world’s top iron ore exporter, are targeting a 30% reduction in the emissions intensity of its steel customers over the next decade. Fortescue Metals Group Ltd. has said it will announce targets for Scope 3 emissions later this month.

BHP’s Scope 3 goals come with caveats. Its net-zero target for direct suppliers is subject to the availability of carbon neutral goods and services that meet the miner’s requirements. Its shipping pledge depends on the widespread availability of carbon-neutral solutions including low or zero emissions marine fuels as well as technology on board suitable ships.

While emissions from BHP’s operations rose 2% in the past year, the company said it remained on track to reach its 30% reduction target by 2030. Solar and wind power supply deals were already in place across a range of its mine assets which would lower those emissions in the years ahead, the company said.

BHP is looking to clean up its portfolio by exiting thermal coal and increasing its exposure to what Chief Executive Officer Mike Henry calls “future-facing commodities”. They include metals such as copper and nickel — key materials for the batteries and wiring that are key to the clean-energy transition.

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(Bloomberg) — Copper might be BHP Group’s most prized metal, but the world’s biggest mining company spent little more than it earned in an average 12-hour period last year exploring for new deposits.

The company spent just $53 million looking for the metal last year, when it posted record profit of $37.4 billion. In total it spent $516 million on exploration, with more than two-thirds directed at oil and gas, a business it’s in the process of exiting.

The world’s biggest miners are universally bullish on copper, expecting a surge in demand as the global economy decarbonizes, while long-term supply looks constrained by the lack of new mine development. Yet part of the reason copper is so favored by miners and investors alike is because new deposits have been so hard to find.

Still, BHP does have growth plans in copper, but from buying into smaller developers rather then spending a fortune on exploration.

The company has built a stake in SolGold Plc, which is developing Ecuador’s Cascabel project, potentially one of the biggest copper mines in the world. BHP is also in the process of trying to buy Noront Resources Ltd. to gain control of a nickel project in Canada.

The company expects its total exploration spend to jump to $800 million this year.

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By Sonali Paul

MELBOURNE (Reuters) – BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer.

Woodside's shares jumped 6.5% after the figure was disclosed in BHP's annual report on Tuesday, outperforming gains of around 4% among its peers.

"The long awaited BHPP (BHP Petroleum) abandonment provision number has been released, coming in below what we feared it could be," Credit Suisse analyst Saul Kavonic said in a note.

BHP said in its annual report that as of June 2021, its petroleum assets included "property plant and equipment and closure and rehabilitation provisions of approximately $11.9 billion and $3.9 billion, respectively".

When the merger was announced in August, investors had raised concerns as Woodside declined to reveal the rehabilitation liabilities that were assumed in setting the deal terms with BHP's petroleum business to create a global top-10 independent oil and gas company.

The oil and gas rehabilitation provisions, which are estimates of the cost of removing platforms and pipelines and cleaning up sites at the end of their lives, make up about one-third of BHP's total closure and rehabilitation provisions of $11.9 billion for all its assets.

Kavonic said he had assumed Woodside might inherit as much as $5 billion to $7 billion in decommissioning liabilities in the merger with BHP's petroleum arm, which comprises assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria.

Citi had estimated BHP's decommissioning liabilities in Australia's Bass Strait alone at $3.4 billion.

Once tax offsets are taken into account, the actual decommissioning cost may be below $1 billion, Kavonic said, adding that those costs could be deferred through reusing sites for activities such as carbon capture and storage or offshore wind in the future.

(Reporting by Sonali Paul; Editing by Muralikumar Anantharaman)

(Reuters) -Teck Resources Ltd, is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion, Bloomberg News reported on Tuesday, citing sources.

Large commodity producers have been facing investor pressure to shift away from fossil fuel business, including by shedding assets, amid a push to reduce carbon emission and halt climate change.

The company is working with an adviser as it looks for strategic alternatives for the unit, the report https://bloom.bg/3lhsrsY said.

Teck Resources declined to comment on the report.

The company's sales from its steelmaking coal unit was 6.2 million tonnes in the second quarter, a 24% jump from year earlier.

Steel prices has been rising since the second quarter, helped by higher demand for the metal as economies recover and demand picks up after being hit by the coronavirus pandemic.

The miner said in July that wildfires in British Columbia, Canada's westernmost province, disrupted rail services and this was likely to weigh on its steelmaking coal business unit for the third quarter.

U.S. listed shares of the miner were up as much as 6.4% at $26.17 in afternoon trading.

(Reporting by Sahil Shaw and Rithika Krishna in Bengaluru; Editing by Arun Koyyur)

(Bloomberg) — In quick succession, mining companies in Chile have resolved a series of labor conflicts to all but end threats to supply in the biggest copper-producing nation.

On Friday, plant workers at Codelco’s Andina mine agreed to end a more than three-week stoppage. The next day, workers at BHP Group’s Cerro Colorado mine accepted an offer hammered out by the two negotiating teams in mediated talks, avoiding a strike. Union members at Salvador, Codelco’s smallest mine, are scheduled to vote Monday on a new offer delivered during mediation.

The recent breakthroughs follow strike-ending agreements earlier this month with the two main unions at Andina and at a mine owned by JX Nippon Mining & Metals. The industry also managed to avoid stoppages at top-tier mines such as Escondida and El Teniente.

Chile is coming to the end of an intense period of contract renewals in which workers used high prices as leverage and companies fought to contain costs in a cyclical business that’s seen an uptick in input inflation.

The wage deals, in a country that accounts for more than a quarter of the world’s mined copper, remove a layer for support for prices of the metal that have recovered much of the ground lost in an early August selloff. Futures were down 0.3% at 1:03 p.m. in London on Monday.

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HORIZONTE SECURES APPROVAL FROM EXPORT CREDIT AGENCIES FOR THE DEVELOPMENT OF THE ARAGUAIA PROJECT

LONDON, UK / ACCESSWIRE / September 13, 2021 / Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) ("Horizonte" or the "Company") the nickel company focused on Brazil is pleased to announce that it has received formal credit and board approval from two export credit agencies (the "ECAs") for US$146.2 million of the senior secured project finance facility (the "Senior Debt Facility") to part fund construction and development of its Araguaia ferro-nickel project ("Araguaia" or the "Project"). The ECAs are EKF, Denmark's Export Credit Agency ("EKF") and Finnvera plc, Finland's Export Credit Agency ("Finnvera").

The Senior Debt Facility comprises two tranches, of which Tranche A of US$146.2 million is to be guaranteed by the ECAs in relation to a number of key equipment and service provider contracts. Tranche B of the Senior Debt Facility is expected to be provided by a syndicate of international financial institutions (the "Senior Lenders").

The ECA approvals are a key step forward in the project financing process, and Horizonte is now nearing completion of the credit approvals by the Senior Lenders for the balance of the project financing of Araguaia.

Endeavour Financial is acting as financial advisor to the Company and Norton Rose Fulbright LLP has acted as legal counsel to the Company with support from the Freitas Ferraz law firm in Brazil.

Horizonte CEO, Jeremy Martin commented: "The receipt of formal credit and board approvals from two export credit agencies for the guarantee of a large component of the Senior Debt Facility is an outstanding achievement for Horizonte.

The Senior Debt Facility is set to provide a significant portion of the funding required for construction of the Project. We look forward to announcing credit approval from the balance of Senior Lenders during the remainder of the third quarter, as well as further key financing milestones.

We are now reaching the culmination of this complex funding process which will see us secure the initial capex required to develop Araguaia, our 100% owned tier 1 ferro-nickel project. With construction scheduled to commence on completion of funding this is a very exciting time for Horizonte."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.

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

About Horizonte Minerals:
Horizonte Minerals plc (AIM:HZM)(TSX:HZM) is developing two 100% owned, tier one projects in Parà state, Brazil – the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is construction ready and will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

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

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
https://www.accesswire.com/663676/Horizonte-Minerals-PLC-Announces-Export-Credit-Agency-Approval-for-Araguaia-Project

MONTREAL, Sept. 13, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce that two clusters of anomalous gold-in-soil samples defining two distinct trends, each approximately 800 meters in length, have been located on the Aquilon gold property in Eeyou Istchee James Bay, Quebec. These gold-in-soil anomalies are not associated with the known high-grade gold showings located 400m to the south, and therefore constitute priority exploration targets requiring follow-up prospecting and trenching. The recently received report highlights these anomalies resulting from the 2020 survey which included 643 humus samples.

A high-resolution helicopter-borne aeromagnetic survey was also completed last week by Geo Data Solutions GDS Inc. on the Aquilon property. The survey, covering the entire property, totals approximately 1,027-line kilometers with flight lines spaced at 75 metre intervals. This survey will help identify geophysical features and targets associated with the recently identified soil anomalies and will provide Sirios' exploration team with important geophysical data to better define the geology and detailed structural patterns of the property.

About the Aquilon Property
This property includes more than thirty surface gold showings, including several very high-grade showings with 560 g/t Au over 0.49 m, 834 g/t Au over 1.71 m and 3,230.89 g/t Au over 0.8 m (ref.: press releases 02/12/2014; 01/01/2011; 26/06/2008). Under the previous operator the showings had been extensively drilled over the years, however the vast majority of these holes averaged less than 60 meters in length and were concentrated on four of the showings. Sirios regained 100% ownership of this property in 2016 and has recently completed a compilation of all available data. The conclusion of this work is that the property is considered to have excellent gold potential and a new exploration program is warranted.

The Aquilon property, which is wholly owned by Sirios, is comprised of 140 claims covering nearly 70 km². It is located approximately 490 km east of Radisson and is easily accessible by the Trans-Taiga highway, an all-season road crossing the Eeyou Istchee James Bay region.
More information on the property is available in the new Sirios Corporative Presentation, which is available at the following link: Sirios Corporative Presentation – September 2021.

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

Roger Moar, P.Geo. and Dominique Doucet, P.Eng. qualified persons under NI 43-101 prepared and verified the technical information in this press release and reviewed the final version of the text.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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

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

Val-d'Or, Québec–(Newsfile Corp. – September 13, 2021) – Golden Valley Mines and Royalties Ltd. (TSXV: GZZ) ("Golden Valley") announces that it has been informed by Alexandria Minerals Corporation ("Alexandria"), a wholly owned subsidiary of O3 Mining Inc. ("O3"), that it is exercising its option to acquire an 80% interest in the Centremaque property (the "Property") pursuant to the terms of a Mining Option Agreement between Golden Valley and Alexandria dated April 20, 2017, as amended.

In order to reach the minimum amount of expenditures set out in the Agreement, O3 will issue shares to Golden Valley equivalent to $209,460.00.

Upon the exercise of the option by Alexandria, Golden Valley and Alexandria will form a joint venture to further explore, and if warranted, develop the Property. Golden Valley will have a 20% free-carried interest in the Property, such that Golden Valley will not be responsible for any project costs, including without limitation, construction costs, exploration costs, mine costs and operating costs on the Property, until the commencement of commercial production. In addition, Golden Valley retains a 1.5% royalty on Net Smelter Returns, of which a 0.5% royalty on Net Smelter Returns may be purchased by Alexandria for $1,000,000.

About Golden Valley Mines and Royalties Ltd.

Golden Valley Mines and Royalties Ltd. is focused on project and royalty generation and continues to evaluate opportunities to enhance its mining exploration property portfolio. Golden Valley is able to grow its current assets by way of partner-funded option/joint ventures and through its shareholdings in related-entities.

For additional information, please contact:

Golden Valley Mines and Royalties Ltd.

Glenn Mullan, President & CEO
Tel.: 1-819-824-2808 ext.204
Email: glenn.mullan@gvmroyalties.com

Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements.

Forward-looking statements are based on the beliefs, estimates and opinions of the Corporation's management on the date the statements are made. Except as required by law, the Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96340

KELOWNA, BC, Sept. 13, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports:

Main Zone Drill Results

Since the news release of July 13, 2021, ten core holes have been completed from drill pads MZ36, MZ49A, MZ50A, MZ51 and MZ51A in the central and northeastern part of the Main Zone (refer to Map 1). Exceptionally strong lead-zinc massive sulphide intersections were encountered in nine of the ten holes drilled with strong copper mineralization present in seven of the nine holes. The mineralized intersections varied in apparent widths up to 11.3 metres. Drill confirmed mineralization extends 2.1km from the strongly mineralized Extension Target to Pad MZ51A. The mineralization is open to depth and along strike.

High Grade Copper – Anomaly G66

Two core holes, each at a -45 degree dip were drilled to test the area of surface rock sampling that analyzed up to 21.7% copper and 60 g/ton silver. Massive chalcopyrite (copper-rich sulphide) was intersected between 20.5 and 20.8 metres in the first core hole drilled at an azimuth of 261 degrees and moderate to strong chalcopyrite was intersected between 47 and 55.4 metres in the second hole drilled at an azimuth of 286 degrees. However, the actual target depth was about 90 metres to the zone of surficial high grade copper mineralization in rock/talus so it is believed that the zone of surficial high-grade copper has not yet been intersected. See Map 2 for the location of Anomaly G66.

Two possible explanations have been identified for the location of the mineralization.

First, structural geologist Chris Buchanan has indicated the high-grade surficial copper to be controlled by axial plane cleavage faults of a F1 syncline (synform). It is thus possible that the drill holes passed under the copper mineralization controlled by the syncline. A vertical hole at the site of the surficial high- grade copper would determine the thickness and grade of copper mineralization within the syncline and determine underlying bedding dips (valuable for structural interpretation).

Second, the zone of high-grade surficial rock/talus copper mineralization is not outcropping because it is covered by extensive talus and alpine glacial sediments. An alpine glacier has moved downslope in an east to west direction covering the north-south trending zone of mineralization in talus. It is thus possible that the high-grade copper mineralization in talus has been moved by the alpine glacier (and perhaps talus slides) from upper dolomitic units in the east, westward downslope to the present north-south trending area containing the high-grade copper mineralization in rock/talus.

Further work to be done consisting of soil-talus samples will be collected beginning at the highest topography in the east, down the slope of the alpine glacier westward to the high-grade surficial copper zone. The analytical results of these soil-talus samples for copper will determine whether there is a high-grade copper zone east of the present drill pad.

The drill rig will remain on site until it is determined whether it should be moved eastward or alternatively to the high-grade copper zone to test the possible synclinal thickness with a vertical hole.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke

Chairman

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. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statements or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE Cantex Mine Development Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/13/c6320.html

Just because a business does not make any money, does not mean that the stock will go down. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

Given this risk, we thought we'd take a look at whether CZR Resources (ASX:CZR) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

View our latest analysis for CZR Resources

How Long Is CZR Resources' Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In December 2020, CZR Resources had AU$2.6m in cash, and was debt-free. Importantly, its cash burn was AU$3.3m over the trailing twelve months. So it had a cash runway of approximately 9 months from December 2020. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.

How Is CZR Resources' Cash Burn Changing Over Time?

Although CZR Resources reported revenue of AU$10k last year, it didn't actually have any revenue from operations. To us, that makes it a pre-revenue company, so we'll look to its cash burn trajectory as an assessment of its cash burn situation. With the cash burn rate up 43% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. CZR Resources makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For CZR Resources To Raise More Cash For Growth?

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

CZR Resources' cash burn of AU$3.3m is about 11% of its AU$31m market capitalisation. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.

So, Should We Worry About CZR Resources' Cash Burn?

On this analysis of CZR Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Summing up, we think the CZR Resources' cash burn is a risk, based on the factors we mentioned in this article. On another note, CZR Resources has 6 warning signs (and 3 which are a bit unpleasant) we think you should know about.

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

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.

TORONTO, ON / ACCESSWIRE / September 13, 2021 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(OTC PINK:BKIRF)(FRANKFURT:BIN) has received a number of inbound inquires from shareholders over the past two weeks seeking an update on the Shymanivske Iron Ore Project (the "Project") and progress with reaching binding offtake, land transfer and Ukraine government investment support agreements.

Further to the press release of the Company on June 30, 2021 and March 8, 2021, solid progress is being made by Wood PLC ("Wood") on the Project's feasibility study and Environmental Resources Management ("ERM") on the Environmental & Social Impact Assessment ("EISA") which are prerequisites to entering binding agreements for the royalty and construction debt.

ERM continues to advance the EISA with several field site investigations completed. Efforts are currently being made to locate Black Iron's future processing plant, tailings, waste rock stockpiles and the defence training grounds to minimise the impact on the environmental and local communities while ensuring the Project's viability.

Similarly, Wood continues to make good progress on the Project's feasibility study which Black Iron anticipates completing in early 2022. Work is currently focused on finalizing the process design criteria, overall site layout, mine equipment selection and pit shell optimization. The next steps entail finalizing the mass and energy balance and the process flow diagrams, followed by major equipment sizing upon which requests for price quotations will be sent to equipment suppliers.

The following is a brief update on the key binding contracts management is progressing:

1. Offtake agreement – discussions with Cargill on this very complex binding agreement have been very positive and productive to date with the majority of the commercial terms having been settled and only a few key outstanding items left to resolve. The Company expects to complete these discussions shortly and will provide an update once a binding agreement is executed.

2. Land transfer – the Deputy Minister of Defence ("MOD") and Chief of Ukraine's armed forces who were responsible for Black Iron's land transfer agreement were both recently replaced which has caused an unexpected delay. The Chief of the armed forces has since been replaced and a replacement for the Deputy Minister responsible to handle Black Iron's land transfer is anticipated to occur very soon. The MOD land transfer agreement is not expected to impact the ability to enter into any of the other binding agreements, but will be a condition president to funding the Project. The change in Deputy Minister and Chief of Armed Forces could potentially accelerate bringing the land transfer agreement to conclusion as there may be better alignment between these two branches of the armed forces. Engineering designs for the new military training facility are well advanced with layout drawing for new buildings and ranges, initial building designs and cost estimate nearly completed.

3. Ukraine Government support & tax agreement – Ukraine's government is still drafting legislation for implementation of this new law and Black Iron is compiling several large documents based on the legislation that has been finalized to date. The Company has entered into a memorandum of understanding on corporation with UkraineInvest which is the branch of Ukraine's government tasked to negotiate investment agreements.

4. Royalty & debt financing – the next step is for independent engineers, marketing, tax and legal advisors to be engaged to conduct due diligence on behalf of the investors. This will likely commence prior to year end as further progress needs to be made on the feasibility study and EISA to ensure an efficient review given Black Iron needs to pay the costs for this diligence on behalf of the investors as is customary.

About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. Full mineral resource details and projected project economics can be found in the NI 43-101 technical report entitled "(Amended) Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" published in March 2020 with an effective date of November 21, 2017 under the Company's profile on SEDAR at www.sedar.com. The Project is surrounded by five other operating mines, including Metinvest's YuGOK and ArcelorMittal's iron ore complex. Please visit the Company's website at www.blackiron.com for more information.

For more information, please contact:

Matt Simpson
Chief Executive Officer
Black Iron Inc.
info@blackiron.com

Forward-Looking Information

This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the Wood's progress on the feasibility study and expected delivery date, ERM's progress on the ESIA, layout and location of the Project's facilities, mass and energy balance, the process flow diagrams and equipment quotations for the Project, negotiations with Cargill on the offtake agreement, negotiations with MOD on the land transfer agreement, negotiations with the Ukrainian government on support and tax agreements, royalty and debt financing, construction and development of the Project and the Company's future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; progress of the Company's service providers; negotiations with third parties; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.

SOURCE: Black Iron

View source version on accesswire.com:
https://www.accesswire.com/663653/Black-Iron-Project-and-Key-Agreement-Update

(Bloomberg) — Plant workers at a Codelco mine in Chile agreed to end a strike while union members at a BHP Group mine accepted a new wage proposal, easing labor tensions in the top copper-producing nation.

Codelco reached a deal to end a more than three-week stoppage by members of the Suplant union at its Andina mine, the state-owned company said Friday, allowing the central Chilean operation to ramp back up.

At BHP’s Cerro Colorado mine, workers voted Saturday to accept an offer hammered out by the two negotiating teams in mediated talks this week, avoiding a strike. Union members at Salvador, Codelco’s smallest mine, are scheduled to vote Monday on a new offer delivered during mediation.

The breakthroughs follow strike-ending agreements earlier this month with the two main unions at Andina and at a mine owned by JX Nippon Mining & Metals. Chile is coming to the end of an intense period of contract renewals, with the industry so far managing to avoid stoppages at top-tier mines such as Escondida and El Teniente.

Workers used high copper prices and profits as leverage in the talks while companies looked to contain labor costs in a cyclical industry that has seen input prices start to rise.

(Adds result of Cerro Colorado vote)

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

(Bloomberg) — Plant workers at a Codelco mine in Chile agreed to end a strike while union members at a BHP Group mine will vote a new wage proposal in the latest signs of easing labor tensions in the top copper-producing nation.

Codelco reached a deal to end a more than three-week-long stoppage by members of the Suplant union at its Andina mine, the state-owned company said Friday.

At BHP’s Cerro Colorado mine, workers will vote on the new offer Saturday after the two negotiating teams hammered out terms in mediated talks this week, the union said in a text message. Voting is scheduled to conclude at 4 p.m. Santiago time.

The breakthroughs follow strike-ending agreements earlier this month with the two main unions at Andina and at a mine owned by JX Nippon Mining & Metals. Chile is coming toward the end of an intense period of contract renewals, with the industry so far managing to avoid stoppages at top-tier mines such as Escondida and El Teniente.

To be sure, there is still a possibility of a stoppage at Codelco’s smallest mine, Salvador. Workers used high copper prices and profits as leverage in the talks while companies looked to contain labor costs in a cyclical industry that has seen input prices start to rise.

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

TORONTO, Sept. 10, 2021 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF) (“MacDonald Mines” or the “Company”) announces that Mia Boiridy has resigned from the Company’s Board of Directors effective September 9, 2021.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario that trades on the TSX Venture Exchange under the symbol "BMK".

The Company is focused on developing its 100%-owned SPJ Project in Northern Ontario. Following up on its successful 2019/20 exploration and drilling campaigns, MacDonald Mines is focused on what it theorizes to be a large gold system at work on the 18,340 ha property with high-grade gold surrounding the past-producing Scadding Gold Mine and gold/polymetallic mineralization over several kilometres around it.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

For more information, please contact:

Stuart Adair, CEO, sadair@macdonaldmines.com

Bullish sentiment appeared to return to markets on Friday morning as a combination of supply disruptions and an apparent detente between the U.S. and China gave oil markets hope.

Oil Prices Today: Friday, September 10th, 2021

With three-quarters of crude production still shut in the Gulf of Mexico, Hurricane Ida remained one of the key factors determining price movements this week. In addition to tight US supplies, with the EIA reporting a 1.5 million b/d week-on-week drop in total production, Friday provided some additional bullish sentiment as the Xi-Biden phone call sparked hopes of a smoother US-China relationship, offsetting downside factors like the Chinese strategic stock auction. As of today, Brent traded around $73 per barrel, whilst WTI was just south of $70 per barrel.

China Releases Strategic Reserves of Crude.

For the first time ever, China’s Strategic Reserves Administration will hold an auction on SPR volumes to be provided to integrated refiners and chemical plants (i.e. state-owned firms) in a bid to tame increasing feedstock prices.

Related: 3 Bearish Catalysts For Oil This Fall

US Natgas Futures Hit $5/mmBtu For First Time Since 2014.

US natural gas futures soared this week as expectations of warmer-than-anticipated weather coincided with Hurricane Ida-induced production outages, with October delivery prices surpassing the $5 per mmBtu mark for the first time since February 2014.

Saudi Aramco Moves into Steel.

Moving beyond its traditional sphere of activity, the world’s largest oil producer Saudi Aramco (Tadawul:2222) signed a deal with Chinese steelmaker Baoshan (600019) to build a steel plate factory in Saudi Arabia, marking the second metals-related venture of the Saudi NOC.

Libyan Export Terminals Blocked by Protesters.

Libya’s Es Sider and Ras Lanuf terminals were blocked by protesters who forced vessels to halt loading operations as calls for the dismissal of NOC head Mustafa Sanalla gained strength, in what might trigger another prolonged period of infighting in the North African country.

Gazprom Waits for German Nod on Nord Stream 2.

Having completed the construction of the Nord Stream 2 gas pipeline, Russian gas giant Gazprom (MCX:GAZP) is now waiting for an approval from Germany’s regulator, a process that could take several months.

LyondellBasell Eyes Houston Refinery Exit.

US chemicals firm LyondellBasell (NYSE:LYB) is reportedly trying to sell its 265kbpd Houston Refinery as soon as possible. This is the second time LyondellBasell has attempted to sell after the 2016 talks with Saudi Aramco yielded no result.

Papua New Guinea Might Derail Santos Merger.

Fearing that the pending merger between Australian energy firms Santos (ASX:STO) and Oil Search (ASX:OSH)might give the company too much control over PNG oil and gas, the Papua New Guinea government is mulling its options to veto the deal.

India Expedites Ethanol Blending Target.

The Indian government brought forward its 2030 objective to see 20% ethanol blending in gasoline flows by five years to 2025, requiring an effective tripling of its ethanol production and breathing life into its grain-to-ethanol output which has been all but non-existent so far, relying primarily on sugarcane.

Nigeria’s NNPC Mulls IPO Options.

Nigeria’s state-owned oil company NNPC, which is to become a limited liability company under the country’s new oil code, could consider an initial public offering within three years, buoyed by news that the company recorded its first-ever profit last year, Reuters reports.

Exxon Tries Methane Integrity Grading.

Under increasing pressure from environmentalist groups, US major ExxonMobil (NYSE:XOM) will offer some of its gas assets in the Permian Basin for a third-party assessment on potential methane leaks from its production sites.

Colombia Desperate for New Upstream Investment.

The Colombian government is pinning its hopes on a November licensing round that will see the national hydrocarbons agency offering 28 areas of potential interest, desperate to breathe new life into its declining production rates. Colombia’s oil reserves have fallen to the equivalent of 6 years’ production.

PEMEX Impacted by KMZ Explosion After All.

Despite PEMEX claiming to have fully recovered from the Ku-Maloob-Zaap platform explosion in late August, Mexico’s Finance Ministry revised its 2022 crude production estimate downwards by some 50,000 b/d to 1.826 million b/d. The draft version of Mexico’s 2022 budget also has PEMEX’s profit-sharing duty dropping from the current rate of 54% to 40%.

BHP Teams Up with Billionaire-Backed Firm.

Australian miner BHP (NYSE:BHP)signed a partnership deal with Kobold Metals, a recently launched AI exploration company that is backed by Bill Gates, Michael Bloomberg, and Jeff Bezos, in a bid to find more battery metals like copper and nickel in Australia.

Hyundai to Present Next-Gen Hydrogen Technology.

The South Korean carmaker Hyundai Motors (KRX:005380) pledged to present its new hydrogen drivetrain in 2023, with the aim of applying fuel cell systems to all commercial models by 2028, claiming overall costs would be some 50% lower than currently existing technologies.

Nickel Prices Soar Despite Chinese Stock Releases.

Nickel prices rose to their highest level in 7 years – going beyond $20,200 per metric ton – as continuously robust demand has started to reduce global stockpiles. Most notably Shanghai warehouse stocks have decreased by 80% year-on-year, standing at less than 6,000 tonnes.

By Tom Kool for Oilprice.com

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OTTAWA, Sept. 10, 2021 (GLOBE NEWSWIRE) — Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (OTC:CTNXF) (FWB:GWN1) is pleased to announce the following drilling update on its Tandayama-America (TAM) porphyry copper-gold mineralized target 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/5826/nr21-16figures.pdf.

Highlights

• Highlights of drill hole assays received from Hole 13 at TAM include encouraging results comprising the best intersections to date (see Table 1 in Figures) and intervals above 1% copper equivalent (CuEq)³3:

  • 1,010m @ 0.55% CuEq from 194m depth, including:

    • 824m @ 0.63% CuEq from 194m

    • 736m @ 0.69% CuEq from 246m

    • 392m @ 0.93% CuEq from 246m

    • 72m @ 1.20% CuEq from 314m

    • 132m @ 1.09% CuEq from 498m

• Hole 13 results indicate the potential for significant depth extensions amenable to bulk underground mining methods at TAM. Mineralization forms a northwest trending corridor, occupying an area approximately 1,200m long, up to 750m wide, and extending from surface to a depth of over 1,200m. The TAM target remains open to the south and east and at depth.

• Highlights of drill hole assays received from Holes 8-12 at TAM include:

  • Hole 11: 234m @ 0.48% CuEq (from 494m), including 96m @ 0.87% CuEq (from 498m) and 54m @ 1.18% CuEq (from 502m)

  • Hole 12: 566m @ 0.32% CuEq (from 730m), including 228m @ 0.53% CuEq (from 780m)

• Assay results from drill holes 14-23 are pending and drilling of Holes 24-27 is currently underway. Drilling to date totals >18,500m with a further 9,200m planned through the end of the year using the existing four diamond drill rigs (see Figure 2).

• Hole 24 is currently drilling approximately 160m northwest and 160m deeper than Hole 13 and has encountered intense mineralization from 507 metres depth in an early quartz diorite intrusion. This zone is interpreted as an extension of the strong mineralization encountered in Hole 13 and includes up to 85% B-type quartz-chalcopyrite veining with approximately 2% visible chalcopyrite and trace visible gold mineralization (see Figure 4).

• The geological character of the porphyry stocks / dykes encountered through drilling to date indicate a well-preserved porphyry system and the full size and strength of the TAM system has not yet been tested. Additional surface geochemical anomalies (A1 and A2) to the east of the current drilling area require drill testing for deeper portions of the system (Figure 2).

• A National Instrument 43-101 compliant Maiden Mineral Resource Estimate is underway and is planned for release later in 2021.

SolGold Executive Board Member, Head of Exploration and ENSA President, Jason Ward, commented on the work being advanced at Cascabel:

“The TAM target at Cascabel is just 3km north of Alpala, and additional copper and gold mineralization at TAM will add to the already impressive metal inventory at Cascabel. Drilling results at TAM to date, and preliminary work utilizing Leapfrog GEO and EDGE software is revealing a prospective bi-modal resource that appears amenable to both bulk surface mining methods as well as bulk underground mining methods. The potential upside of higher-grade depth extensions beneath TAM is also adding exciting possibilities to the still growing Cascabel project.

Geotechnical, hydrogeological and metallurgical data is already being prepared to facilitate the conversion of future resources to reserves, and this seems likely to have a major beneficial impact on the development of the Cascabel property as a whole as studies progress in 2022.”

* The reader is cautioned that there has been insufficient exploration to define a mineral resource at TAM and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Further Information

The TAM target lies approximately 3km north of the Alpala Deposit, located on the Cascabel concession within Imbabura Province in northern Ecuador. The project area lies approximately 100 km north of the capital city of Quito and approximately 50 km north-northwest of the provincial capital, Ibarra (Figure 1).

Cross sections through the centre of the target are provided in Figure 3.

Qualified Person

Information in this report 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.

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 ir@cornerstoneresources.ca, or:

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

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

Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend,” “trends,” “indicate,” “expect,” “may,” “should,” “could,” “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 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.

² See “About Cornerstone” below.

³ Copper Equivalent is currently calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal copper price of US$3.30/lb and a gold price of US$1,700/oz.

Grange Resources Limited (ASX:GRR) will increase its dividend on the 30th of September to AU$0.02. This takes the annual payment to 7.1% of the current stock price, which unfortunately is below what the industry is paying.

Check out our latest analysis for Grange Resources

Grange Resources' Dividend Is Well Covered By Earnings

While yield is important, another factor to consider about a company's dividend is whether the current payout levels are feasible. However, Grange Resources' earnings easily cover the dividend. This means that most of its earnings are being retained to grow the business.

Over the next year, EPS could expand by 41.9% if recent trends continue. If the dividend continues on this path, the payout ratio could be 12% by next year, which we think can be pretty sustainable going forward.

Dividend Volatility

The company has a long dividend track record, but it doesn't look great with cuts in the past. The payments haven't really changed that much since 10 years ago. The dividend has seen some fluctuations in the past, so even though the dividend was raised this year, we should remember that it has been cut in the past.

The Dividend Looks Likely To Grow

With a relatively unstable dividend, it's even more important to evaluate if earnings per share is growing, which could point to a growing dividend in the future. It's encouraging to see Grange Resources has been growing its earnings per share at 42% a year over the past five years. Rapid earnings growth and a low payout ratio suggest this company has been effectively reinvesting in its business. Should that continue, this company could have a bright future.

We Really Like Grange Resources' Dividend

Overall, we think this could be an attractive income stock, and it is only getting better by paying a higher dividend this year. The company is easily earning enough to cover its dividend payments and it is great to see that these earnings are being translated into cash flow. All of these factors considered, we think this has solid potential as a dividend stock.

Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. For example, we've picked out 2 warning signs for Grange Resources that investors should know about before committing capital to this stock. If you are a dividend investor, you might also want to look at our curated list of high performing dividend stock.

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.

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given this risk, we thought we'd take a look at whether Investigator Resources (ASX:IVR) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn.

View our latest analysis for Investigator Resources

When Might Investigator Resources Run Out Of Money?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. In December 2020, Investigator Resources had AU$14m in cash, and was debt-free. In the last year, its cash burn was AU$4.7m. Therefore, from December 2020 it had 2.9 years of cash runway. That's decent, giving the company a couple years to develop its business. Importantly, if we extrapolate recent cash burn trends, the cash runway would be noticeably longer. Depicted below, you can see how its cash holdings have changed over time.

How Is Investigator Resources' Cash Burn Changing Over Time?

In our view, Investigator Resources doesn't yet produce significant amounts of operating revenue, since it reported just AU$70k in the last twelve months. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. In fact, it ramped its spending strongly over the last year, increasing cash burn by 179%. It's fair to say that sort of rate of increase cannot be maintained for very long, without putting pressure on the balance sheet. Investigator Resources makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Investigator Resources Raise More Cash Easily?

Given its cash burn trajectory, Investigator Resources shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$86m, Investigator Resources' AU$4.7m in cash burn equates to about 5.4% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

So, Should We Worry About Investigator Resources' Cash Burn?

As you can probably tell by now, we're not too worried about Investigator Resources' cash burn. For example, we think its cash runway suggests that the company is on a good path. While we must concede that its increasing cash burn is a bit worrying, the other factors mentioned in this article provide great comfort when it comes to the cash burn. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Investigator Resources (of which 2 are concerning!) you should know about.

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

This article by Simply Wall St is general in nature. 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.

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(Bloomberg) — Argentina’s Mendoza province is in talks with some of the world’s top producers of potash to revive a mine that requires an investment of as much as $5 billion at a time of surging fertilizer prices.

Mendoza — better known for its exports of Malbec wine than its vast mineral wealth — took over the Rio Colorado potash project several months ago after years of wrangling with Vale SA. The Brazilian company pulled the plug in 2013 after spending $2.2 billion to build almost half the mine.

Provincial officials have since spoken to several would-be partners to finally put Rio Colorado into production, signing non-disclosure agreements with five of the world’s biggest producers of the crop nutrient, said Emilio Guinazu, director general of province-owned PRC SA, which holds the asset.

Luring investment to Rio Colorado 15 years after Rio Tinto first sought to develop it would be big win — not only for Mendoza, which has struggled to spur new mines because of environmental opposition, but for the whole country, where onerous business rules including capital controls have scared off investors. Guinazu says now is the time because prices of potash are rallying along with other fertilizers as strong demand from farmers collides with a slew of supply disruptions.

“A window of opportunity has begun to open that we don’t want to waste,” he said in an interview Wednesday.

U.S. sanctions against Belarus potash producers are jeopardizing mine expansion there, while pandemic- and hurricane-related shipping disruptions are slowing fertilizer trade. A decision last month by BHP Group to proceed with the $5.7 billion Jansen project in Canada after years of hesitation underscores the market’s buoyant long-term prospects.

Rio Colorado has potential to produce 4.5 million metric tons a year, similar to Jansen, which would require roughly $5 billion. This version of the project needs 500 miles of train track to be built or upgraded to get the potash to an Atlantic port for export to markets like Brazil.

A more likely scenario, Guinazu said, is to attract $1 billion for annual output of 1 million tons, which could be transported by truck, though Mendoza would be prepared to scale down even further just to get the project off the ground. An investment of $200 million would produce enough fertilizer for Argentina and its small neighbor Uruguay, he said.

The province wants to find an investor that would take a majority stake and operate the mine within 18 months. It’s currently looking for an adviser to guide the search.

Because of risks in Argentina, where markets are often intervened, investors need a strong stomach. But they can also be drawn in by specially-designed benefits. For instance, federal and provincial governments are in talks for legislation for oil and gas drillers in the Vaca Muerta shale patch to be able to increase sales abroad and to free some of those export revenues from capital controls. A similar mechanism is under discussion for miners, Guinazu said.

“Without a doubt, some of the benefits in the oil and gas bill are being studied for mining too,” he said.

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