TORONTO, ON / ACCESSWIRE / May 28, 2021 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") today announced the filing of the management information circular (the "Circular") for its upcoming annual and special meeting of shareholders to be held on June 30, 2021 (the "Meeting"), which contains additional details regarding Pinetree's previously announced share consolidation and share split transaction. Notice of the Meeting has been mailed to Pinetree shareholders of record at the close of business on May 11, 2021, who are entitled to attend and vote at the Meeting, and the Circular is available online under Pinetree's issuer profile at www.sedar.com and on Pinetree's website at www.pinetreecapital.com.

As previously announced, Pinetree will seek shareholder approval at the Meeting for a 100 to 1 consolidation of its common shares (the "Common Shares"), followed immediately by a 1 to 50 share split (collectively, the "Share Consolidation and Share Split").

Shareholders who hold in the aggregate less than 100 Common Shares prior to the share consolidation (which would result in less than one consolidated Common Share following the share consolidation) will receive a cash payment from Pinetree in exchange for such pre-consolidation Common Shares held equal to the number of Common Shares multiplied by the average trading price per Common Share on the Toronto Stock Exchange ("TSX") during the 20 consecutive trading days ending on and including the trading day immediately prior to the effective date of the consolidation (the "Effective Date"), rounded down to the nearest whole cent. As such, shareholders who hold less than 100 pre-consolidation Common Shares as of the record date for the Share Consolidation and Share Split (the "Consolidation and Split Record Date") will cease to be shareholders of Pinetree.

Shareholders who hold in the aggregate 100 Common Shares or more will continue to be Pinetree shareholders following the Share Consolidation and Share Split, however any fractional interest in Common Shares will be rounded down to the nearest whole Common Share after the 1 to 50 share split.

The board of directors of Pinetree unanimously recommends that shareholders of Pinetree approve the Share Consolidation and Share Split. Pinetree has an exceptionally large number of shareholders holding small numbers of Common Shares; approximately 131,517, or 1.4% of the outstanding Common Shares are held by approximately 7,168 shareholder accounts holding fewer than 100 Common Shares. This represents an average of 18 shares per holder. Having provided advanced notice such that small shareholders have had the opportunity to increase their ownership via the recently closed Rights Offering and/or through market purchases, the board believes that the Share Consolidation and Share Split will benefit Pinetree's shareholders by:

• Providing Liquidity for Small Shareholders – The Share Consolidation and Share Split provides a cost-effective liquidity option for small shareholders to sell their holdings and liquidate their investment without payment of brokerage fees that in many cases would represent all or a substantial portion of their sale proceeds.

• Reducing Administrative Costs – Pinetree spends a significant amount of money each year printing and mailing materials required by statute to shareholders. The effect of the proposed Share Consolidation and Share Split will be to reduce administrative costs associated with maintaining an exceptionally large number of small shareholders that account for a disproportionately high percentage of these administrative costs.

The Share Consolidation and Share Split requires the approval of holders representing at least two-thirds of the Common Shares that vote at the Meeting, as well as a majority of the votes cast by shareholders of Pinetree other than L6 Holdings Inc. and certain directors and senior officers of Pinetree. The Share Consolidation and Share Split is also subject to the approval of the TSX.

Pinetree will announce both the Consolidation and Split Record Date as well as the Effective Date following shareholder approval at the Meeting.

Forward-Looking Statements

Certain statements herein may be "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pinetree or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and are made as of the date hereof and Pinetree assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. Accordingly, when relying on forward-looking statements to make decisions, Pinetree cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to the Share Consolidation and Share Split and its timing.

About Pinetree Capital Ltd.

Pinetree is a value-oriented investment and merchant banking company focused on the technology sector. Pinetree's common shares are listed on the TSX under the symbol "PNP".

For further information:

John Bouffard
Chief Financial Officer
416-941-9600 x 200
jbouffard@pinetreecapital.com
www.pinetreecapital.com

SOURCE: Pinetree Capital Ltd.

View source version on accesswire.com:
https://www.accesswire.com/649689/Pinetree-Capital-Announces-Additional-Details-Regarding-Share-Consolidation-and-Share-Split

VANCOUVER, BC, May 28, 2021 /PRNewswire/ – Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") would like to remind its shareholders that they have until 1:30 pm (Vancouver Time) on Tuesday June 8, 2021, to vote their shares for the upcoming Annual General Meeting (the "Meeting") of shareholders to be held on Thursday June 10, 2021, at 1:30 pm (Vancouver Time).

Shareholders are urged to carefully read the information circular in connection with the Meeting. A copy of the information circular and all other meeting materials is available on SEDAR at www.sedar.com and on the Alexco website at https://www.alexcoresource.com/investors/annual-general-meeting/

Alexco's Board of Directors and Management recommend that Shareholders VOTE FOR all proposed resolutions.

YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU OWN. PLEASE VOTE TODAY

How to Vote

Shareholders of record as of April 26, 2021, have several ways to vote their shares including online and via telephone.

THE VOTING DEADLINE IS 1:30 PM (VANCOUVER TIME) ON TUESDAY JUNE 8, 2021

Shareholder Questions

If you have any questions or require assistance with voting your shares, please contact Alexco toll-free at 1-844-392-3035 or by email at info@alexcoresource.com

About Alexco

Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory, one of the highest-grade silver deposits in the world. Alexco is currently advancing Keno Hill to production and started concentrate production and shipments in Q1 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation's mineral resources through successful exploration.

Cautionary Note Regarding Forward-looking Statements

Some statements ("forward-looking statements") in this news release contain forward-looking information concerning the Company's anticipated results and developments in the Company's operations in future periods, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements with respect to future mine operations and production levels as well as the success of exploration and development activities. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

View original content:http://www.prnewswire.com/news-releases/alexco-reminds-shareholders-of-voting-cut-off-for-upcoming-shareholder-meeting-301301543.html

SOURCE Alexco Resource Corp.

VANCOUVER, BC, May 28, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX Nickel" or the "Company") is pleased to announce the results of its 2021 Annual General and Special Meeting held on May 27, 2021.

At the meeting, the shareholders voted to set the number of Board members at six and elected Peter M.D. Bradshaw, James S. Gilbert, Peter J. Marshall, William H. Myckatyn, Robert B. Pease and Martin E. Turenne as directors of the Company to hold office for the ensuing year. The shareholders also voted in favour of the appointment of DeVisser Gray LLP as the auditor of the Company for the ensuing year and approved the Company's 10% Rolling Stock Option Plan.

The Company notes that John A. McDonald, who had served with distinction on the Board since 2009, did not stand for re-election at the meeting.

"On behalf of the Company's Board, our shareholders and myself, I would like to extend my very great appreciation to John for his many years of dedicated service," said Mr. Bradshaw, Chairman of the Board. "John has been instrumental in the evolution of the Company over the years and he will be missed. We wish him very well indeed in his future endeavours."

About the Decar Nickel District

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

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

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

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

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

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

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

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

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/28/c3365.html

VANCOUVER, British Columbia, May 28, 2021 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) provides an update on progress with its international arbitration claim against the Republic of Peru.

Since our previous update of February 2021, a number of important steps have been achieved in the arbitration process. These include:

1. The International Centre for Settlement of Investment Disputes (ICSID) has appointed the presiding arbitrator. The Tribunal held its first session together with the Parties on April 13, 202;

2. The Company has selected a Quantum Expert who is tasked with preparing a detailed evaluation of the Company’s claim. This evaluation is progressing well and will be the basis for the value of the Company’s claim against the Republic of Peru;

3. A definitive time schedule has been agreed to between the parties and the ICSID Tribunal. Lupaka will file its Memorial in September 2021; and

4. The Company and its legal team at Lalive continue to build the case. Document review and interviews with former employees and related personnel are progressing on schedule and with good success.

Overall, the case is developing as forecast, and both the Company and its legal team have a growing sense of confidence in achieving a successful outcome.

For ongoing updates with respect to the arbitration, please refer to the Company’s website (www.lupakagold.com/projects/arbitration).

For background on the basis for the arbitration please refer to the Company’s previous news releases, also available on the website (www.lupakagold.com/news/#2020).

With respect to the arbitration proceedings, Lupaka is represented by the international law firm, LALIVE (www.lalive.law), and has the financial backing of Bench Walk Advisors (www.benchwalk.com).

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

About Lupaka Gold
Lupaka is an active Canadian-based company focused on creating shareholder value through identification and development of mining assets.

About Bench Walk Advisors
Bench Walk Advisors is a global litigation financier with over USD 250m of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.

About LALIVE
LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.

FOR FURTHER INFORMATION PLEASE CONTACT:

Gordon Ellis, C.E.O.
gellis@lupakagold.com
Tel: (604) 985-3147

or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com

Vancouver, British Columbia–(Newsfile Corp. – May 27, 2021) – On national TV Sat. May 29 & Sun. May 30, 2021 BTV-Business Television delves into the prosperous resource industry and shares investment opportunities.

Cannot view this video? Visit:
https://b-tv.com/btv-features-investment-opportunities-in-the-resource-sector-ep-360/

Discover Companies to Invest In – Click company name to watch their TV feature:

Mountain Boy Minerals Ltd. (TSXV: MTB) (OTCQB: MBYMF) – BTV hears how this company is advancing its flagship gold mine with large-scale potential in B.C.'s Golden Triangle.

Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) – BTV learns about this exploration company's plans to continue drilling its property in one of the most prolific mineral districts in the world.

Evergold Corp. (TSXV: EVER) (OTC PINK: EVGUF) – The excitement is building as plans for drilling at its promising Golden Lion project get underway.

Scottie Resources Corp. (TSXV: SCOT) – This company is on the hunt for gold and sees untapped potential at a past producing gold mine.

Victoria Gold Corp. (TSX: VGCX) (OTC PINK: VITFF) – BTV checks in with Canada's newest gold producer set to deliver between 180 and 200 hundred thousand ounces of gold in 2021at its Eagle Gold Mine.

Galleon Gold Corp. (TSXV: GGO) – BTV shares how this exploration and development company is advancing its West Cache Gold Project in Timmins, Ontario.

Giga Metals Corp. (TSXV: GIGA) (OTCQB: HNCKF) – With nickel as one of the key minerals required in batteries for the growing electric vehicle market, this company is on point with one of the world's largest undeveloped nickel-cobalt sulphide deposits.

Gold Terra Resource Corp. (TSXV: YGT) (OTCQX: YGTFF) – A company on a mission to reboot a gold mining district with its Yellowknife City Gold project.

Barsele Minerals Corp. (TSXV: BME) – Their CEO discusses purchasing the remaining option from Agnico Eagle to now own 100% of their advanced-stage gold project in Sweden.

On air for over 20 years, BTV – Business Television, a half-hour investment TV show, features analysts and emerging companies on location. With Hosts, Taylor Thoen and Jessica Katrichak, BTV brings viewers investment opportunities.

TV BROADCAST NETWORKS and TIMES:
CANADA:

BNN Bloomberg – Saturday May 29 @ 8:00pm EST, Sunday May 30 @ 4:30pm EST
Bell Express Vu – Saturday May 29 @ 8:00pm EST, Sunday May 30 @ 4:30pm EST

US National TV:
Biz Television Network – Sun June 6 @ 8:30am EST

Suggest a Company to Feature!

Contact: (604) 664-7401 x3 info@b-tv.com
To receive news, click here to subscribe.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85481

Vancouver, British Columbia–(Newsfile Corp. – May 27, 2021) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") is pleased to provide an update on the Company's exploration strategy and program for its 100% owned Wheaton Creek Gold and Haskins-Reed polymetallic properties.

Wheaton Creek:

The recommended exploration includes:

• Site visit by the VP Exploration & VP Operations

• Airborne magnetic geophysics survey

• Geochemical soil survey

Diamond drilling is expected to commence in June following an initial reconnaissance by Pacific Bay staff.

From Pacific Bay Minerals' VP Exploration, Sebastien Ah Fat, P.Geo., "Wheaton Creek is a fairly underexplored prospect. We're giving it a fresh look and applying a new understanding of the geology in the area as part of our exploration strategy. It is once again an exciting property for the Company and we look forward to the results of our exploration campaign later this summer."

Wheaton Creek Highlights:

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

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

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

• Notice of work (NOW) application approved

Haskins-Reed:

The Haskins-Reed Polymetallic Property remains a project of merit for the Company. Work is ongoing by the management team to compile data from the historical work conducted (including 200+ drill holes into multiple mineralized zones) in order to identify additional opportunities for shareholder value creation including additional exploration/development and/or joint-venture agreement.

Haskins-Reed Highlights:

• 3,930 hectares of mineral tenures 100% owned by Pacific Bay Minerals

• High-grade carbonate replacement deposit similar to Coeur's Silvertip mine.

• 2011 high grade intercept of 102.59 grams per tonne of silver over 13.95 metres

• Adjacent to Cassiar Gold's:

  • Taurus (1M oz gold inferred resource)

  • Table Mountain (past producing and permitted high grade gold mine).

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

Corporate Development:

In addition to work being done on current portfolio properties, the Company has been active in implementing its strategic growth plan. Given strong precious metals markets, the management team continues to evaluate accretive acquisitions of brownfield projects meeting specific target criteria including those where:

• Early exploration has been completed

• Established resource with the potential for expansion

• Near term pathway to commercial production and sustained cashflow

Additional fundraising and corporate development activities are planned for the third/fourth quarter of 2021 to meet the Company's growth objectives.

The Company's VP of Operations, Antonio Vespa, comments, "Our vision is to eventually become a junior metals producer. Our management team is doing great work in bringing forth projects to evaluate that meet our criteria and could potentially help us drive shareholder value."

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

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85427

Vancouver, British Columbia–(Newsfile Corp. – May 27, 2021) – InZinc Mining Ltd. (TSXV: IZN) ("InZinc" or the "Company") announces that at the 2021 Annual Meeting of Shareholders (the "Meeting") held on May 27, 2021, InZinc's shareholders voted in favour of all items of business, including approval of the West Desert Option Agreement dated April 15, 2021.

A total of 52,413,271 common shares were represented at the Meeting, being 42.91% of the Company's issued and outstanding shares. The following is a tabulation of the votes submitted by proxy:

West Desert Option Agreement

InZinc entered into an option agreement dated April 15, 2021 (the "Option Agreement") with American West Metals Limited ("American West"), a private Australian company, pursuant to which InZinc granted to a wholly-owned subsidiary of American West an option ("Option") to earn a 100% interest in InZinc's West Desert project ("West Desert") located in Utah, USA. The Option Agreement is subject to, among other things, shareholder approval. The TSX Venture Exchange granted conditional approval of the option agreement subject to shareholder approval at an InZinc meeting of shareholders.

About InZinc

InZinc is focused on growth in zinc through exploration and expansion of the advanced stage West Desert project (100%) in Utah and exploration of the early-stage Indy Sedex project (100% option) in British Columbia. West Desert has a large underground resource open for expansion. The Indy Sedex project comprises near surface discoveries, large untested exploration targets and regional discovery potential. Indy is readily accessible by road from Prince George, the major hub for transportation and heavy industry in central British Columbia and is located 85 kms south of the Canadian National Railway. The West Desert option agreement (100% option to American West Metals, a private Australian company) will provide InZinc continuing leverage as American West Metals advances the West Desert project in Utah to prefeasibility. In addition to receiving significant staged cash payments and shareholdings in American West Metals over the next 24 months, InZinc will receive 50% of the revenue from the sale of indium mined from West Desert on a Net Smelter Return basis upon exercise of the Option.

InZinc Mining Ltd.

"Wayne Hubert"

CEO and Director
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

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/85598

ENS earnings call for the period ending March 31, 2021.

Nickel 28 Capital Corp. ("Nickel 28" or the "Company") (TSXV: NKL) (FSE: 3JC) is pleased to announce a proposed normal course issuer bid to repurchase its common shares. In the opinion of management and the board of directors of the Company, the common shares have recently traded in a price range that represents a substantial discount to the Company's net asset value and does not reflect the underlying value of the Company.

"Using Nickel 28’s excess liquidity to buy back common shares at their current trading price would be highly accretive to our net asset value per share and represents the highest rate of return on an investment that the Company could make," stated Anthony Milewski, the Company’s Chairman. He continued, "Accordingly, the purchase for cancellation of shares by Nickel 28 during these times will benefit the remaining shareholders by increasing their proportionate ownership in the Company."

Nickel 28 has submitted a notice of intention to undertake a normal course issuer bid to the TSX Venture Exchange ("TSXV") in connection with the purchase by Nickel 28 of up to 7,478,209 of its common shares, representing 8.7% of the 85,701,844 common shares comprising Nickel 28’s total issued and outstanding common shares as of May 26, 2021. All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of the TSXV in accordance with the rules, regulations and policies of the TSXV and will be cancelled. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors including other options to expand the Company’s portfolio of assets.

The normal course issuer bid remains subject to the approval of the TSXV and will begin on the date that is two trading days after the TSXV's approval and will be open for a maximum period of 12 months. A further news release with additional details of the normal course issuer bid will be issued upon approval of the bid by the TSXV.

About Nickel 28

Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 13 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain information which constitutes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the proposed NCIB; and statements with respect to the business and assets of Nickel 28 and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company’s control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.

The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.

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. No securities regulatory authority has either approved or disapproved of the contents of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210527005768/en/

Contacts

Investor Contact:
Justin Cochrane
Tel: 647.846.7765
Email: info@nickel28.com

(Bloomberg) —

Australia’s pro-fossil fuels government and one of the country’s top coal producers won a climate change court battle against an elderly nun and a group of Greta Thunberg-inspired teenagers.

The decision clears the way for Whitehaven Coal Ltd. to seek final go-ahead for a mine expansion aimed at producing as much as 10 million tons a year of mostly metallurgical coal, used in steel-making.

Even in dismissing an injunction seeking to halt the project, Judge Mordy Bromberg acknowledged the expansion would have a “tiny but measurable” impact on climate change, and ruled that Australia’s Environment Minister Sussan Ley must consider the future impacts on young people from a warmer planet when granting approvals.

It’s a decision that contrasts with a wave of clear-cut climate victories this week as investors revamped board rooms and judges forced operators to accelerate emissions cuts. An activist shareholder on Wednesday ousted two Exxon Mobil Corp. directors seen as insufficiently attuned to the threat of a warmer planet, while Royal Dutch Shell Plc was ordered to slash emissions faster than planned.

Read more: Big Oil’s Climate-Change Takedown Arrives With Stunning Rebukes

The Australia case was mounted by a group of eight teenagers who are involved in the School Strike 4 Climate Australia protest group and Sister Brigid Arthur, who acted as a so-called litigation guardian.

“Internationally, we’re seeing the transition to net zero accelerating across all sectors,” said Zoe Whitton, a Sydney-based executive director at Pollination, a climate change advisory and investment firm. “We see investors in both debt and equities moving rapidly towards transition aligned assets, and asking companies with concentrations in fossil fuels to find ways to pursue new opportunities.”

Lawsuits from the U.S. to the Philippines are seeking to press governments and companies to make faster efforts to reduce greenhouse gas emissions, highlighting wildfires to floods and droughts that scientists argue are being exacerbated by climate change.

Germany’s highest court last month forced lawmakers to bring forward its net zero emissions goal by five years after ruling existing law put young people’s futures at risk by leaving most emissions cuts until after 2030. Whitehaven’s win comes a day after a Dutch court ordered Shell to accelerate its work to cut emissions, a ruling seen as likely to have repercussions across the global fossil fuels industry.

Campaigners had been correct to argue Environment Minister Sussan Ley has a duty of care to protect Australia’s youth from the future impacts of greenhouse gas emissions, though those issues would likely be considered under an existing process of granting approvals to mine projects, Judge Bromberg said at the Federal Court of Australia in Melbourne.

The campaigners viewed the judgement as a win as it established the government has a duty of care to protect young people from the ravages of climate change, said 17-year-old Ava Princi, one of the teenagers behind the case. The teenagers will now make submissions to the court on how Ley should exercise that duty, she said in an emailed statement.

“My future — and the future of all young people — depends on Australia stepping away from fossil fuel projects and joining the world in taking decisive climate action,” she said.

Sydney-based Whitehaven said the legal case was without merit and will aim to proceed with the expansion.

“The company sees a continuing role for high quality coal in contributing to global CO2 emissions reduction efforts while simultaneously supporting economic development in our near region,” the producer said in a statement.

Whitehaven shares rose 2.3% in Sydney trading, trimming their decline this year to 6.7% as investors weigh longer-term prospects for the sector. Benchmark coal prices at Newcastle, one of the world’s biggest export terminals, have risen by almost a third.

Australia’s Prime Minister Scott Morrison, who once brandished a lump of coal in parliament in support of the fuel, has declined to set a hard target date to reach net-zero emissions, drawing criticism from investors and allies, including the U.S.

The Whitehaven ruling will be a boost for fossil-fuel exporters as Australian lawmakers increasingly tie an economic recovery from the country’s first recession in three decades to the energy sector. Australia is among the world’s biggest exporters of liquefied natural gas and coal.

(Updates with details throughout.)

More stories like this are available on bloomberg.com

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©2021 Bloomberg L.P.

A look at the shareholders of IGO Limited (ASX:IGO) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that used to be publicly owned tend to have lower insider ownership.

IGO is a pretty big company. It has a market capitalization of AU$5.5b. Normally institutions would own a significant portion of a company this size. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about IGO.

Check out our latest analysis for IGO

What Does The Institutional Ownership Tell Us About IGO?

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

IGO already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of IGO, (below). Of course, keep in mind that there are other factors to consider, too.

Hedge funds don't have many shares in IGO. Yandal Investments Pty Ltd is currently the largest shareholder, with 8.9% of shares outstanding. With 7.9% and 6.0% of the shares outstanding respectively, T. Rowe Price Group, Inc. and Fidelity International Ltd are the second and third largest shareholders.

A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of IGO

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

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

Our most recent data indicates that insiders own less than 1% of IGO Limited. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around AU$26m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.

General Public Ownership

The general public holds a substantial 50% stake in IGO, suggesting it is a fairly popular stock. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Private Company Ownership

We can see that Private Companies own 12%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand IGO better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 3 warning signs for IGO you should know about.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

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

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

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

VANCOUVER, British Columbia, May 26, 2021 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that the Company has completed the first phase of exploration of the Kettle Valley epithermal gold/silver occurrence. The exploration objective was to identify the bedrock sources of an extensive boulder train of angular mineralized (>.25 ppm to 2.34 ppm Au) quartz-carbonate material.

Goldcliff excavated nine trenches spanning 600 metres in an NNW-SSE direction. Overburden cover proved to be deeper than anticipated and, in many areas, bedrock was covered by highly cemented glacial till. Sufficient outcrop was, however, exposed in most trenches for sampling.

Near the southern end of the trenching abundant quartz-carbonate talus was traced up-slope (westerly) resulting in the discovery of a bedrock source on a cliff face. This discovery, the Cliff Zone, prompted a prospecting and sampling traverse following outcrop ledges and the base of cliff faces up hill and westerly of all the trenches. The traverse successfully traced a quartz-carbonate zone for 700 metres in an NNW-SSE strike direction. The quartz-carbonate Cliff Zone displays silicification, brecciation, multiple phases of quartz-carbonate veining, and quartz stockwork veining. Banded vein textures, bladed calcite and amethyst were also observed with the latter quite common in the southern part of the zone. These characteristics are consistent with low sulphidation epithermal Au-Ag deposits. Clay alteration seen in trenches downhill and <100 m east of the Cliff Zone may be the result of structural and hydrothermal activity.

Trench sampling comprised 53 rock and 10 glacial till samples. The prospecting traverse yielded 48 rock and 47 soil samples. Samples were shipped in secure sample bags by courier to MSA Labs in Langley, BC for 51 element ICP-MS analysis. In addition to MSA Lab's QA/QC protocols, Goldcliff's QA/QC program included insertion of standards and blanks into the sample stream.

Subsequent to completion of this first phase of exploration, Goldcliff has acquired by staking an additional 336 hectares of mineral tenures.

Warner Gruenwald, P. Geo., a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

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

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, May 26, 2021 /CNW/ – LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") today announced that it is proposing to complete a flow-through and non flow-through private placement on a non-brokered basis (the "Private Placement"). The Corporation intends to raise up to approximately $500,000 in aggregate gross proceeds by issuing up to approximately 746,269 flow-through units (the "FT Units"), up to approximately 793,651 non flow-through units (the "Non-FT Units"), or any combination of FT Units and Non-FT Units. Pursuant to the Private Placement, the FT Units will be issued at a price of $0.67 per FT Unit and the Non-FT Units will be issued at a price of $0.63 per Non-FT Unit.

Each FT Unit will consist of one common share of the Corporation to be issued as a "flow-through share" (as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")) (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Non-FT Unit will consist of one non flow-through common share of the Corporation and one Warrant. Each Warrant (whether comprising part of a FT Unit or a Non-FT Unit) will entitle the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.72 per share for a period of 12 months from the date of issuance.

As at the date hereof, the Corporation has accepted subscription agreements for the Private Placement in aggregate gross proceeds of $345,000.

The gross proceeds allocable to the FT Shares comprising the FT Units will be used for "Canadian exploration expenses" (within the meaning of the Tax Act), which will qualify, once renounced, as "flow-through mining expenditures", as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2021 (provided the subscriber deals at arm's length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units which are allocable to the FT Shares. The Corporation intends to use the net proceeds from the issue of Non-FT Units for exploration activities and general working capital purposes.

In connection with the Private Placement, the Corporation may pay finders' fees in the form of cash commissions and finder's warrants having the same attributes as the Warrants.

The closing of the Private Placement is subject to the approval of the TSX Venture Exchange (the "TSXV"). All securities that are issued pursuant to the Private Placement will be subject to, among other things, a hold period of four months and one day in accordance with applicable Canadian securities laws.

About LAURION Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 227,449,205 outstanding shares of which approximately 71% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km² Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Follow us on Twitter: @LAURION_LME

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, management's objectives, strategies, beliefs and intentions, the completion of the Private Placement, the use of proceeds therefrom and the finder's fees that may be paid by the Corporation in connection with the Private Placement. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein including as a result of a change in the trading price of the Common Shares, the TSXV not providing its approval for the Private Placement. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

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

SOURCE Laurion Mineral Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2021/26/c9713.html

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") announces that the six nominees listed in the management information circular for its 2021 annual meeting of shareholders (the "Meeting") held earlier today were elected as directors of Aquila. 129,198,908 shares were represented at the Meeting, representing 38.1% of Aquila’s issued and outstanding common shares. The detailed results of the vote for the election of directors are set out below:

Final voting results on all matters voted on at the Meeting will be filed on SEDAR at www.sedar.com.

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

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

Aquila has two other exploration projects: Reef Gold Project located in Marathon County, Wisconsin and the Bend Project located in Taylor County, Wisconsin. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold.

Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: risks with respect to the COVID-19 pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526006082/en/

Contacts

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

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

Trading Symbol TSX/NYSE AMERICAN: SVM

VANCOUVER, BC, May 26, 2021 /CNW/ – Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that its Board of Directors declared a semi-annual dividend of US$0.0125 per share to be paid to all shareholders of record at the close of business on June 4, 2021, with a payment date of the dividend scheduled on or before June 25, 2021.

The dividends are considered eligible dividends for Canadian tax purposes.

The declaration and payment of future dividends is at the discretion of the Board of Directors and any future decision to pay dividends will be based on a number of factors including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.

About Silvercorp
Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: global economic and social impact of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

View original content to download multimedia:http://www.prnewswire.com/news-releases/silvercorp-declares-semi-annual-dividend-of-us0-0125-per-share-301299389.html

SOURCE Silvercorp Metals Inc

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c8606.html

Vancouver, British Columbia–(Newsfile Corp. – May 26, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) (Santiago: SSVCL) ("Southern Silver" or the "Company") announces that due to significant demand, it has amended its agreement with Red Cloud Securities Inc. (the "Underwriter") to increase the size of its previously announced bought deal private placement to C$9,000,000 (the "Brokered Offering"). Under the amended agreement, the Underwriter will purchase for resale 18,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit (the "Unit Price"). Each Unit shall be comprised of one common share in the capital of the Company (each a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable into one common share of the Company (each, a "Warrant Share") at a price of C$0.75 at any time on or before the date which is 24 months after the closing date of the Brokered Offering.

The Company is also increasing the size of its previously announced non-brokered private placement to up to 6,000,000 Units at the Unit Price for additional gross proceeds of up to C$3,000,000 (the "Non-Brokered Private Placement", and collectively with the Brokered Offering, the "Offerings"). The Units sold under the Non-Brokered Private Placement will be identical to those sold under the Brokered Offering.

The net proceeds from the Offerings will be used for exploration and advancement of the Company's Cerro Las Minitas silver-lead-zinc project located in Durango State, Mexico and for general working capital purposes. The closing of the Offerings is expected to occur on or about June 14, 2021 and is subject to receipt of all necessary regulatory and other approvals, including the listing of the Unit Shares and Warrant Shares on the TSX Venture Exchange. The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day from the date of closing of the Offerings in accordance with applicable Canadian securities laws and may be subject to resale restrictions in the jurisdiction of residents of non-Canadian purchasers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Southern Silver Exploration Corp.

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

On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85283

ROUYN-NORANDA, Quebec, May 26, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has received notice from Electric Royalties Ltd. (ELEC-TSXV) that it has entered into a revised letter of intent (LOI) with Sprott Resource Streaming and Royalty (Sprott) regarding Electric Royalties’ and Sprott’s engagement to purchase Globex’s Mid-Tennessee zinc royalty. In order to facilitate completion of the purchase, Globex has agreed to several changes to the terms of the purchase agreement as outlined below:

• Cash payment: Under the revised agreement, Globex will receive an additional $500,000 for a total of $13,750,000 of which $250,000 has already been paid.

• Share payment: Under the revised agreement, Globex will receive 9,000,000 Electric Royalty shares and 5,500,000 four-year warrants with an exercise price of $0.60 per share. Under an acceleration clause, after 2 years, should the Electric Royalties share price exceed $1.00 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share. Likewise, after 3 year, should the Electric Royalties share price exceed $1.50 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share.

Under the revised agreement, Globex will, excluding warrants to be exercised at a later date, have slightly less than a 20% shareholder stake in Electric Royalties and thus, shareholder approval will not be required for the transaction. The closing date of the transaction has been extended 21 days in order to get required approvals and final legal documents but it is expected that the sale of Globex’s Mid-Tennessee zinc royalty will be completed before that date as Sprott has now committed to the entire cash portion of the purchase price (see Electric Royalties/Sprott press release of today’s date).

Globex is pleased with Electric Royalties’ progress toward closing the purchase transaction. At closing, Globex expects to have over $27,500,000 in cash and shares of other listed companies as well as the 5,500,000 Electric Royalties warrants. In addition, Globex is working to complete several other transactions which, if finalized, will generate additional revenue for the company.

This press release was written by Jack Stoch, Geo., President and CEO of Globex.

• Despite multiple demands, Mr. Smith, to the detriment of all Fancamp shareholders, has illegally refused to provide critical technical and financial information belonging to the Corporation, forcing the Corporation to pursue additional legal action.

• Mr. Smith and his slate of nominees have also refused to confirm that, if elected, they will not use the Corporation’s funds to repay themselves for the costly proxy fight Mr. Smith started.

• The Smith Nominees have also refused to confirm they will maintain the integrity of the independent forensic investigation into Mr. Smith, effectively helping him hide his wrongdoings.

• Further to the May 12, 2021 announcement, KPMG has been retained to assist the Special Committee with its independent forensic investigation into Mr. Smith’s numerous misconducts.

Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced it will file an Application for a Safeguard Order (the "Application") with the Quebec Superior Court to obtain critical technical and financial information belonging to the Corporation from Mr. Peter H. Smith, a Director of Fancamp, and its former President and CEO.

Fancamp also notes that Mr. Smith’s May 25, 2021 press release is full of rhetoric and contains little substance. Mr. Smith’s argument is that he feels he is being treated unfairly – not that he hasn’t committed the actions outlined in the Corporation’s prior press releases – simply because the Board of Directors (the "Board") is holding him accountable for his actions.

Why the Application Was Needed

Despite multiple demands, Mr. Smith, to the detriment of all Fancamp shareholders, has ignored requests to preserve the information in his hands and has refused to return:

• Technical and financial information, including reports on Fancamp’s mining properties

• Banking information related to Fancamp or any of its subsidiaries

• Any correspondence and/or emails between Fancamp and its partners, third parties and shareholders

• Documents regarding contractual obligations and other agreements such as option agreements, access agreements, drilling or other exploration contracts and waivers

These critical items are needed for Fancamp to properly operate its business. Mr. Smith’s refusal is illegal and shows a complete disregard for the interests of Fancamp and its shareholders – the exact opposite of what one would expect from a director exercising their fiduciary duties.

Shareholders should be worried: for 30 years, Mr. Smith operated in secret – personally keeping all of the Corporation’s documents and taking personal possession of Fancamp’s office – in order to implement his self-serving agenda. Fancamp has started to uncover some of Mr. Smith’s misconduct, and believes his stonewalling is an attempt to conceal further damaging facts. This stonewalling, combined with the refusal of the directors nominated by Mr. Smith ("Smith Nominees") to confirm that they will not frustrate the investigation into his activities, raises a very real concern that a vote for Mr. Smith’ s nominees is a vote against accountability for Mr. Smith.

Mr. Smith’s History of Blatant Refusal and Obstruction

The Board has repeatedly tried to reason and work with Mr. Smith, but he has refused. While he was Director, President and CEO, the Board simply asked Mr. Smith:

• To be transparent about negotiations with third parties

• To use common governance and accountability practices, such as getting Board approval prior to spending shareholders’ money, initiating projects and providing budgets

• To comply with the securities laws that apply to him as a director, such as ensuring confidentiality and duty of loyalty

These are legal obligations and best practices, expected of all directors, yet Mr. Smith dismissed them entirely.

Mr. Smith’s Cover-Up Continues – Now With the Help of His Friends

Not only is Mr. Smith hiding information, the Smith Nominees are now helping him as well. Since Mr. Smith has refused to hand over the information in his possession, when his notice of nomination of directors was received, Fancamp was forced to ask the Smith Nominees to confirm they will:

• Not seek reimbursement from the Corporation for any costs they have incurred in their efforts to replace the Board

• Not hinder or cease the Corporation’s ability to complete the formal independent investigation into Mr. Smith

• Not interfere with or end the litigation brought by the Corporation against Mr. Smith

• Not interfere or dismiss any regulatory investigation involving Mr. Smith

The Smith Nominees have refused to respond to these simple requests. Their excuse is they do not want to "fetter their discretion with respect to future actions relating to the Company" if they are elected to the Board. They had no such concerns about the ScoZinc transaction, and have already announced that they will vote against it.

This double standard, selective application of excuses, and lack of commitment is clear evidence that the Smith Nominees plan to take shareholders’ money to reimburse themselves for the proxy fight Mr. Smith started and guard Mr. Smith from accountability. It is also a clear indicator about how they will behave – and whose interests they will look out for – if they are elected to the Board. It is in this context that the current Board is considering the validity of Mr. Smith’s advance notice nomination and the eligibility of the Smith Nominees themselves to serve on the Board as independent directors.

If Mr. Smith chose to behave the way he did with a Board who tried to hold him accountable for his destructive actions, imagine what he will do if his friends and associates become the Board. With no one to watch him, hold him accountable or put in place the appropriate checks and balances, Mr. Smith will have free reign to do as he pleases.

Mr. Smith has also complained about Fancamp’s Advance Notice Policy – a policy he created while he was in charge of the Corporation. Again, the double standard is clear: Mr. Smith believes policies and procedures do not apply to him or his friends.

Along with his notice of nomination of directors, Mr. Smith also submitted an unnecessary and redundant proposal of protocols for the AGM. The Corporation has reviewed the proposals and finds them needless and completely off-market. The Board fully recognizes the importance of a fair contested meeting. The Corporation’s AGM and the process leading up to it will be conducted with integrity and in a transparent manner, in accordance with the Corporation’s by-laws and all other legal requirements, recognized practice and with a view to the best interest of all shareholders.

What Else Is Mr. Smith Hiding?

Fancamp has strong reason to believe that a full investigation, with access to all of the relevant information, will uncover even more damning information about Mr. Smith. Further to the May 12, 2021 announcement, the Special Committee has hired KPMG International Limited ("KPMG") to assist with its independent forensic investigation into Mr. Smith. The Special Committee believes that retaining KPMG is in the best interest of the Corporation and its shareholders. It will ensure accurate information is presented so that shareholders can make a fully informed decision at Fancamp’s AGM.

The Corporation is disappointed that it is being forced to incur the expense of having had to file an Application, in addition to the civil claim, but Mr. Smith’s ongoing destructive actions has left it no choice. Fancamp continues to believe that Mr. Smith’s stonewalling is a blatant self-serving attempt to conceal damaging facts about his actions and derail the progress of the Corporation until the AGM.

Advisors

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

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

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

Forward-looking Statements

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

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005580/en/

Contacts

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

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

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

VANCOUVER, British Columbia, May 26, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to announce that it has entered into an option agreement to acquire up to 100% interest in the Canyon Creek copper project in northwestern British Columbia (“B.C.”), Canada.

B.C. hosts 13 districts of copper-rich deposits in the production and development stage within two major zones (Quesnel and Coastal/Stikine volcanic-plutonic arc – terranes). The most prominent deposits are the Red Chris, Galore Creek, Schaft Creek, Kemess North, Mount Milligan in the north; and Highland Valley and Copper Mountain in the south. Many of these deposits produce both copper and gold.

The Canyon Creek property is located in the northwestern end of the Quesnelia Zone (Terrane) approximately 160 kilometres (“km”) from the Red Chris Mine, 15 km from a main highway and 60 km from the town of Dease Lake.

Canyon Creek comprises 24 square kilometres covering a discrete bullseye copper-molybdenum-silver anomaly delineated by regional stream sediment survey. The property also covers large areas with anomalous levels of molybdenum (“Mo”) and copper (“Cu”) in soils extending over 5 km by 2 km and is open. Mo ranges from 10 to 270 parts per million (“ppm”) and Cu ranges from 40 to 780 ppm. Please see: https://www.candentecopper.com/projects/canyon-creek-bc-canada/ for maps.

Prospecting has identified two separate zones of Cu and Mo mineralization, in outcrops of quartz veining and stockwork zones containing chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide). These two areas cover 800 metres (“m”) by 300m and 400m by 400m, respectively. Mineralization, found on surface to date, grades up to 1.56% Cu; up to 0.1% Mo and up to 17.6 grams per tonne (“g/t”) silver (“Ag”).

The mineralization, soil anomalies and geophysical anomalies appear to be associated with an altered quartz monzonite porphyry which intrudes rocks of the Quesnel Terrane. Large granodiorite to quartz monzonite plutons are affiliated with the Quesnel Terrane of B.C. Overall, quartz-monzonite plutons form the largest world class deposits of Cu-Mo-Au and Cu-Mo. Examples are Edernet with 1.78 billion tonnes of 0.62% Cu and 0.025% Mo, Chuquicamata, 6.45 billion tonnes of 0.55% Cu and Bingham Canyon, 3.24 billion tonnes of 0.88% Cu, 0.02% Mo and 0.5 g/t Au.

The property is also situated adjacent to a major NNW striking fault (the Thibert Fault) and close to a 70 km long E-W striking lineament.

Previous Exploration

Over $1 million has been spent at Canyon Creek by previous explorers dating back as far as 1971 when Dolmage Campbell/UMEX conducted IP and ground Magnetics and apparently drilled 4 holes, although this has not been verified. Since then, Cassiar Asbestos Corp. (1971), Noranda (1978), Paget Resources (2008) and Sirius Resources (2012) have conducted stream sediment and soil sampling; geological mapping, prospecting and rock chip sampling; airborne Fugro MAG (1317 line km); ZTEM (200 line km). There is no evidence that any of these groups conducted any drilling.

Terms of the Agreement

The Company has entered into a legally binding Letter of Intent (“LOI”) with property owner Chris Baldys. The LOI provides for the following:

Acquire 100% Interest (subject to Royalty*) by:

1. Issuing a total of 1M shares over 5 years (by November 30, 2025)

2. Funding exploration activities to keep the claims in good standing until December 2027 (approximately Cdn$45,000 per year)

Of the above the following is a Firm Commitment:

• Issue 50,000 shares within 14 days of signing and receiving TSX approval

• Issue an additional 50,000 shares by November 30, 2021

• Funding exploration activities totalling a minimum of $42,000 by December 31, 2021

*Royalty:
The Vendor will be granted a royalty equal to 1.5% of net smelter returns. The Company has the right to buyback the first 0.5% for $500,000 and the second 0.5% for an additional $1.5M.

The owner advises that there are no legacy issues, no surface rights activity and no other issues that would limit orderly exploration work (Notice of Work) applications.

About Candente Copper

Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

Please see https://www.candentecopper.com/investors/presentations for details from previous resource and engineering studies which delineated 9B lbs copper, 2M oz gold and 54M oz silver in: Measured and Indicated Resources of 752.4 million tonnes grading 0.45% copper, 0.07 grams per tonne (“g/t”) gold and 1.9 g/t silver (0.52% Cu equivalent) containing 7.533 B lb Cu, 1.67 M oz Au and 45.24 M oz Ag and Inferred Resources of 157.7 million tonnes grading 0.44% copper, 0.06 g/t gold and 1.8 g/t silver containing 1.434 B lb Cu, 0.3M oz Au and 8.932 M oz Ag.

Details from the Cañariaco Norte Copper Project Pre-Feasibility Study Progress Report available at https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is in the lowest quartile of top 84 copper projects worldwide named by Goldman Sachs. Cash Costs are also in lowest quartile of the copper industry.

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

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.

On behalf of the Board of Candente Copper Corp.

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

info@candentecopper.com
www.candentecopper.com

NR-131

VANCOUVER, British Columbia, May 26, 2021 (GLOBE NEWSWIRE) — Imperial Metals Corporation (the “Company”) (TSX:III) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated April 1, 2021 were elected as directors of the Company at the Annual General Meeting of Shareholders (the "Meeting").

Results of the vote for the election of directors held at the Meeting on May 26, 2021 in Vancouver, British Columbia are:

A total of 81,380,882 common shares were voted in connection with the Meeting, representing approximately 63.3% of the issued and outstanding common shares of the Company. The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on sedar.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658

VANCOUVER, BC, May 26, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX" or the "Company") is pleased to provide an overview of an expanded exploration program starting in June at the Company's Decar Nickel District ("Decar") in central British Columbia. In addition to the drill programs at the Baptiste Deposit and the Van Target (see the Company's May 10, 2021 news release), regional exploration will focus on prospective under- and un-explored areas within this 245 square kilometre ("km²") ophiolite complex.

Highlights

• FPX to conduct regional mapping and surface sampling within the Decar land package at the existing Sid and B targets and at five new prospective areas

• Work at Sid and B designed to potentially expand the footprint of known mineralization and investigate the ground located between the two targets, where previous drilling has generated positive results

• Reconnaissance exploration in five prospective new areas, which have been identified on the basis of high magnetic response from previous airborne surveys, limited previous sampling work and/or improved access to outcrop resulting from recent clear-cut logging activity

"With plans to conduct infill drilling at Baptiste and a maiden drill program at the Van Target this summer, we are excited to conduct additional exploration around the Sid and B targets, plus regional exploration at five other under-explored areas at Decar," commented Martin Turenne, FPX's President and CEO. "The exploration potential at the Decar Nickel District remains vast and offers a compelling opportunity to expand the nickel endowment beyond that already demonstrated at Baptiste, which is the world's third largest undeveloped nickel deposit.*"

Figure 1: Decar Nickel District with airborne magnetic survey results showing the location of the Baptiste Deposit, Van target and additional exploration areas

Sid and B Targets

Surface exploration will be conducted this summer to further refine and expand the areas within, surrounding and between the Sid and B Targets, located approximately 3 and 4.6 km, respectively, north-northwest of the Baptiste Deposit. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with nickel grades comparable to the Baptiste Deposit (see Tables 1 and 2, below).

Table 1 – Results of Previous Drilling at Sid Target

The holes at Sid were drilled to test the depth extent of mineralized ultramafic rock outcrops located west of the drill hole locations. Both holes were drilled to the southwest at an inclination of 60 degrees and were located 325 metres apart on the inferred northwestern boundary of the Sid target area.

Table 2 – Results of Previous Drilling at B Target

New Exploration Areas

The Company has identified five prospective new areas within the Decar claims group on the basis of high magnetic response from previous airborne surveys and, in certain areas, from limited previous sampling. In certain of these areas, recent logging activity by forestry companies has removed significant ground cover, and it is anticipated that additional areas of outcrop which have been previously inaccessible will now be uncovered. The regional exploration work will involve mapping and rock sampling, size estimations of awaruite (the nickel-iron alloy) and Davis Tube Recoverable ("DTR") nickel analysis.

Area 1 is located approximately 1 km north of the Baptiste Deposit. There is only one previous outcrop sample within this area, grading 0.08% DTR nickel. The possible trend extension of the B and Sid target into the northwest part of this area will also be investigated.

Areas 2 and 4 are located southeast of the Van target. Sampling of outcrop has not previously been conducted in these areas, but recent clear-cut logging activity has provided new access to determine if outcrop zones have been exposed in these portions of the Decar claim group.

Area 3 is located approximately 3 km northeast of Baptiste. Previous limited outcrop sampling completed over Area 3 has returned coarse-grained awaruite with DTR nickel grades ranging from 0.07% to 0.131%.

Area 5 is along an apparent northwest-southeast trend to the northwest of the Van Target. No surface sampling has previously been completed within this area but there is recent logging activity which may have exposed new outcrops.

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

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

About the Decar Nickel District

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

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

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

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

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

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

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

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

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c0867.html

VANCOUVER, BC / ACCESSWIRE / May 26, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to report Phase 2 diamond drilling has begun at the Lone Star Zone Target area, part of a three phase drill program on the Company's wholly owned 586 square kilometer Klondike District Property near Dawson City, Yukon Territory. Also, the Company has received an early small gold royalty payment from Dulac Mining as the first gold ‘clean up' of 2021.

SUMMARY

• Phase 2 drilling begins at Lone Star Zone, maiden resource in focus.

• Visible gold is identified in the second 2021 drill hole testing the Phase 2 ‘Lone Star East' target area.

• Visible gold also is identified in two of three archived legacy drill cores from 2006, during re-logs. These are within the Phase 2 ‘Lone Star Deep' drill target area.

• Phase 1 drilling at Virgin and Lindow Targets complete (see details below).

• Dulac Mining has begun placer mining operations on the Company's Upper Eldorado Creek placer property. Klondike Gold has received the first royalty (10%) payment of 2021 comprised 0.5 ounces flake gold from a total 4.5 ounces gold recovered during start-up equipment testing.

Peter Tallman, Klondike Gold's CEO stated, "Visible gold in the second 2021 hole at Lone Star Zone is an excellent boost to the start of the season, as is identifying visible gold in two pertinent historic holes by previous management. The ‘behind the scenes' work by our team collecting and modelling structural, geochemical and geologic data is responsible for the Company's confidence in the Lone Star East and Lone Star Deep targets. It is a great start to a breakout season. Credit to the team as a steady and methodical exploration approach over this historic district begins to pay dividends."

PHASE 2 LONE STAR ZONE TARGETS

Phase 2 drilling begins with the focus on outlining a maiden resource within the 3,000+ meter length of Lone Star Zone. The Lone Star Zone footprint from 50-meter spaced drilling is currently 950 meters by 200 meters size (see Figure 1). The majority of 2021 drill meterage will be expended testing for expansions of Lone Star Zone mineralization in two informally named target areas: Lone Star Deep and Lone Star East. The Lone Star Deep target comprises a 600 meter by 200 meter panel the Company is simultaneously testing for near surface, across-strike mineralization as well as for down-dip continuation of the Lone Star Zone to 250 meters below surface. Recent examination of legacy 2006 holes within the Lone Star Deep target encouragingly identified visible gold near surface in two of the three holes (see Figure 1 for 2006 hole location).

The Lone Star East target is a 250 meter by 200 meter panel that tests for eastern continuation of Lone Star Zone gold mineralization. Drilling in 2021 has begun here and visible gold is noted in the second drill hole of the Phase 2 program, LS21-399, at 42.2 meters downhole within an interval typical of Lone Star Zone gold mineralization.

Figure 1: Lone Star Zone Target Areas

PHASE 1 VIRGIN AND LINDOW TARGETS UPDATE

Phase 1 drilling is complete with a total of 356 meters of core drilled in five holes; three at Virgin Mine and two at Lindow targets. Drill operations were difficult in steep terrain and core recoveries were poor and blocky, resulting in short holes. Logging and sampling of these holes is in progress. At least one of the Virgin target holes intersected alluvial white channel gravel perched on a side-hill bench above bedrock; not of economic interest to the Company, but a reminder of the link between gold rush era placer gold and modern exploration.

DULAC MINING ON UPPER ELDORADO CREEK PLACER

Dulac Mining has resumed placer mining operations on the Company's Upper Eldorado Creek placer property and has completed the first gold ‘clean up' of 2021. Klondike Gold has received 0.5 ounces of gold flakes from a total of 4.5 ounces gold recovered from material processed during start-up equipment testing as first royalty (10%) payment of 2021. In 2020 Dulac Mining recovered 500 ounces placer gold (as fines, coarse flakes, and nuggets) with the Company receiving 50 ounces placer gold in royalty payment.

Figure 2: Location of Planned 2021 Drilling Targets (red stars) including Phase 1: Virgin/Lindow Target, Phase 2: Lone Star Zone and Phase 3: Stander Zone.

QUALIFIED PERSONS REVIEW

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

COVID-19 UPDATE

Klondike Gold continues to take proactive measures to protect the health and safety of our local host community, our contractors and our employees from COVID 19 and exploration activities in 2021 will have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer. Additionally, the Company has received Yukon government approval for our 2021 Alternate Isolation Plan ("AIP") which mandates protocols and stringent isolation safety measures permitting essential personnel to transit to/from Yukon. As of May 25, people who are fully vaccinated will no longer be required to self-isolate for 14 days upon entry to Yukon provided their vaccination status can be confirmed. Klondike Gold employees and contractors will reach 92% fully vaccinated in the coming days with objective of 100% as soon as practicable.

ABOUT KLONDIKE GOLD CORP.

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

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

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

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

Disclaimer for Forward-Looking Information

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

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

Follow the Company:

Twitter: @KlondikeGoldKG
Instagram: @KGKlondikeGold
LinkedIn: Klondike Gold Corp.
Facebook: Klondike Gold

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/649126/Klondike-Gold-Begins-Phase-2-Drilling-at-Lone-Star-Zone

Exploration Continues on Gold-Silver Targets Identified in Phase-1 Diamond Drilling

VANCOUVER, BC / ACCESSWIRE / May 26, 2021 / Brigadier Gold Limited (the "Company" or "Brigadier") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce the discovery of bulk tonnage type copper mineralization in trenching and further results from exploration of newly identified gold targets at its Picachos gold-silver-copper project Sinaloa, Mexico (the "Picachos Project," "Picachos" or the "Property"). Additional assays from phase-1 diamond drilling are anticipated to be received in June.

Pichachos, located approximately four hours' drive from the city of Mazatlan, covers 3,954 hectares and overlaps one of the largest high-amplitude contiguous anomalies for gold and base metals in the western Sierra Madre with values up to 6841 ppb Au in fine-fraction, active channel stream sediments.

Rob Birmingham, President and CEO, remarks, "We're proud of the team effort put into acquiring, financing, and driving exploration and development at Picachos. Exploration and diamond drilling efforts led by head geologist Michelle Robinson, have successfully identified an extensive mineralized vein system and numerous targets for follow up investigation, including a large, unexplored copper porphyry target situated in the northern part of the Property. We look forward to implementing a cost-effective approach aimed at further de-risking Picachos and building on the technical success achieved to date."

Copper Discovery

Brigadier has initiated trenching across historic anomalies considered prospective for bulk-tonnage style copper mineralization. Trench BRG-50250 was located approximately 2 kilometres south of a trench cut by Brigadier across several hundred metres of molybdenite in the winter of 2020. The first 50 metres of BRG-50250 have been sampled and analyzed using the field XRF and returned copper values between 0.05% and 1.34% and silver values between 20g/t and 284g/t. These samples will be sent to the lab when the trench is complete and mineralized intervals formally reported after that.

La Gloria Gold Target

Brigadier has completed mapping and sampling of the historic La Gloria underground gold mine in the central part of its Picachos Project. In 2020, Brigadier intercepted La Gloria in DH-BRG-028 between 140 and 141 metres depth where a value of 6.26 g/t gold across 1 metre was returned. This intercept was 112 metres below the historic workings. In the plane of the vein, the known underground workings are 60 to more than 130 metres below topography. Collectively, diamond drilling and the underground workings define the position of La Gloria Vein for more than 240 metres down-dip.

La Gloria stope is accessed by a 105 metre long cross-cut at the 950 metre elevation that trends easterly. The cross-cut and drill hole locations are now tightly controlled by a high-resolution airborne LiDAR survey recently completed by Eagle Mapping. From the portal, La Gloria cross-cut and stope was surveyed using a Brunton and tight chain.

From the mine portal to 71 metres, the host rocks consist of intermediate volcanics that are dark grey-green and contain amygdules that are filled with quartz, chlorite and calcite. The stope was mapped for approximately 35 metres northwest of the cross-cut and 65 metres to the southeast. La Gloria Vein strikes 155°-160° and dips 80°-65° southwesterly.

Samples were cut every metre along the cross-cut to identify any metal bearing veins or veinlets in the hanging wall to La Gloria and clean off the dust for geological mapping. In the stope, the historically worked faces form a honeycomb and samples were cut across the back or working faces where rock conditions were safe for sampling. Fifteen sample lines of one to three samples each were collected across the vein and these have been submitted today to SGS in Durango for gold and base metal analyses. Gold is apparent in panned concentrates of several samples.

Drill Results Pending

Assays are still pending for 518 metres of drilling completed in phase-one, most of which is from a 3-hole fence drilled across El Placer Norte where underground sampling returned grades of up to 12.79 g/t across the Huarache Vein. Perhaps more significantly, a surface trench across the El Placer trend returned values of 0.5 g/t gold across 65 metres in BRG-117154. This was followed by 8 metres of 2.14 g/t gold in adjacent trench BRG-117146.

National Instrument 43-101 Disclosure

The technical information in this press release has been reviewed by Michelle Robinson, MASc., P.Eng., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Drilling was completed using PQ and HQ tooling. Core and sample handling procedures are documented in the Company's press release dated October 22, 2020. Standard pulps, field duplicates, pulp duplicates and blanks are inserted into the sample stream. The samples were analyzed by SGS Laboratories in Durango using fire-assay methods for gold, and ICP methods with a 4-acid digestion for silver and base metals. SGS is an accredited laboratory. It is the Qualified Person's opinion that the technical information disclosed in this press release is reliable.

Please visit our website to learn more about Brigadier Gold.

About Brigadier Gold Limited

Brigadier was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement. Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.

For further information, please contact:

Brigadier Gold Limited
www.brigadiergold.ca
Robert Birmingham, Chief Executive Officer
rob@brigadiergold.ca
Leah Hodges, Corporate Secretary
(604) 377-0403

Reader Advisory

This news release may contain statements which constitute "forward-looking information," including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

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

SOURCE: Brigadier Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/649068/Brigadier-Makes-Copper-Discovery-at-Picachos

VANCOUVER, BC, May 26, 2021 /CNW/ – South Star Mining Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF) is pleased to announce that it is changing its corporate name to South Star Battery Metals Corp. Effective at the opening of trading on Wednesday, May 26, 2021, the common shares of the Company will commence trading on the TSX Venture and OTC Exchanges under the new name. The stock symbols remain the same.

Shareholders holding South Star share certificates can request a replacement certificate with the new Company name, but new certificates are not required and will not be automatically issued. There is no change in the capitalization structure of the Company in connection with the change of the name.

The name change highlights the evolution of the target markets and growth strategies for the Company over the mid- to long-term. Richard Pearce, President and CEO of South Star, commented: "We are pleased to announce the name change, which we believe is more aligned with our vision of where we create the most value for clients, shareholders and stakeholders, as well as the Company's strategic growth initiatives for the coming years. Over the past few weeks, we released fantastic news regarding offtake agreements and excellent testing results for expandable and purified graphite products. The news highlights the high-quality, high-purity and low-contaminate nature of South Star's concentrates and purified graphite, as well as strong market demand for sourcing product. The superior testing results open a world of commercial opportunities for premium value-add products with strong margins.

We are in the process of transitioning from a development company to a producing mine with commercial operations planned for September 2022. Brazil is already a critical battery metals jurisdiction providing high-quality products and important supply-chain diversification. South Star will be a key player and part of the long-term solution with secure, high-quality industrial minerals and battery metals for the clean energy revolution. We are quickly building South Star into the first new graphite operation in continuous commercial production in the Americas in more than a decade."

About South Star Battery Metals Corp.

South Star Battery Metals Corp. is focused on the selective acquisition and development of near-term production projects in Brazil. South Star is driven to create fundamental value in the industrial minerals and battery metals sectors for clients and investors with real projects that have strong intrinsic financial and operating metrics, and that can be profitable throughout the resource cycles. South Star has an experienced executive team with a strong history of discovering, developing, building and operating profitable mines in Brazil.

The Santa Cruz Graphite Project, located in Southern Bahia, is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. The Project has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing.

The Santa Cruz project is being developed in a phased approach. Phase 1 operations for the 5,000 tpy pilot plant operations are fully licensed, and the Company is preparing to start construction in September 2021 with commercial production targeted for Q4 2022. Phase 2 operations will represent a larger-scale concentration plant currently planned to produce between 25,000 to 30,000 tpy of concentrate. The sizing of the Phase 2 plant could be increased depending on the successes of the Phase 1 operations, ongoing development of commercial relationships, and market conditions.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.

On behalf of the Board,

Mr. Richard Pearce
Chief Executive Officer

Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/

CAUTIONARY STATEMENT

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

This news release and the Updated Technical Report contain references to inferred resources. The Report is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

FORWARD-LOOKING INFORMATION

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

View original content to download multimedia:http://www.prnewswire.com/news-releases/south-star-mining-announces-name-change-to-south-star-battery-metals-corp-to-highlight-evolution-in-growth-strategy-301299396.html

SOURCE South Star Mining Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/26/c5034.html

It is hard to get excited after looking at Mount Gibson Iron's (ASX:MGX) recent performance, when its stock has declined 8.3% over the past week. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Mount Gibson Iron's ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

Check out our latest analysis for Mount Gibson Iron

How Do You Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for Mount Gibson Iron is:

16% = AU$114m ÷ AU$730m (Based on the trailing twelve months to December 2020).

The 'return' is the amount earned after tax over the last twelve months. So, this means that for every A$1 of its shareholder's investments, the company generates a profit of A$0.16.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

Mount Gibson Iron's Earnings Growth And 16% ROE

To begin with, Mount Gibson Iron seems to have a respectable ROE. Even when compared to the industry average of 15% the company's ROE looks quite decent. Consequently, this likely laid the ground for the impressive net income growth of 22% seen over the past five years by Mount Gibson Iron. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as – high earnings retention or an efficient management in place.

As a next step, we compared Mount Gibson Iron's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 28% in the same period.

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Mount Gibson Iron is trading on a high P/E or a low P/E, relative to its industry.

Is Mount Gibson Iron Efficiently Re-investing Its Profits?

The three-year median payout ratio for Mount Gibson Iron is 34%, which is moderately low. The company is retaining the remaining 66%. By the looks of it, the dividend is well covered and Mount Gibson Iron is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.

Additionally, Mount Gibson Iron has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 21% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 25%, over the same period.

Conclusion

On the whole, we feel that Mount Gibson Iron's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Remember, the price of a stock is also dependent on the perceived risk. Therefore investors must keep themselves informed about the risks involved before investing in any company. To know the 4 risks we have identified for Mount Gibson Iron visit our risks dashboard for free.

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

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

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. And in light of that, the trends we're seeing at Ferrexpo's (LON:FXPO) look very promising so lets take a look.

What is Return On Capital Employed (ROCE)?

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Ferrexpo is:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.41 = US$684m ÷ (US$2.0b – US$296m) (Based on the trailing twelve months to December 2020).

So, Ferrexpo has an ROCE of 41%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 14%.

View our latest analysis for Ferrexpo

In the above chart we have measured Ferrexpo's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

What Can We Tell From Ferrexpo's ROCE Trend?

The trends we've noticed at Ferrexpo are quite reassuring. The data shows that returns on capital have increased substantially over the last five years to 41%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 73%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.

The Bottom Line

In summary, it's great to see that Ferrexpo can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And a remarkable 2,120% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

Ferrexpo does come with some risks though, we found 4 warning signs in our investment analysis, and 1 of those is a bit unpleasant…

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

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

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

(Expressed in United States dollars except where otherwise indicated)

MONTREAL, May 25, 2021 (GLOBE NEWSWIRE) — (TSXV: GMN) GobiMin Inc. (“GobiMin” or the “Company”, together with its subsidiaries collectively the “Group”) reports its financial and operating results for the first quarter of 2021. The unaudited condensed interim consolidated financial statements along with quarterly highlights of management’s discussion and analysis have been filed with SEDAR (www.sedar.com) and are also available at the website of the Company (www.gobimin.com).

Financial Highlights

Business Summary and Development

1. Gold Project in Xinjiang

The Company owns a 70% equity interest in Xinjiang Tongyuan Minerals Limited which holds the Sawayaerdun Gold Project (the “Gold Project”) in Xinjiang. Its exploration licence had been renewed with expiry date on August 22, 2021. Its mining licence expired on December 23, 2019 and the renewal process involved multiple approval levels. The application procedures were delayed attributable to the work piled in government authorities during the COVID-19 pandemic and additional time required for finalizing the resources assessment on the Gold Project by an independent valuer. As at the date of this report, approvals from the Department of Natural Resources of all of the county, prefecture and region levels were confirmed. The renewed mining licence is expected to be issued after settlement of the mining royalties amounting to $1.46 million (equivalent to RMB9.56 million).

The on-site industrial test on applying bio-tech methodology on extraction of metals from large-scale samples of gold ores was running behind the schedule attributable to the pandemic in 2020. As suggested by the experts from the Research Institute, three-shift rotation schedule has been implemented to accelerate the test progress in the mine site. According to the analysis results on the ore samples and the immersion gold tests conducted by the Research Institute, arsenic and iron in the ore samples have been successfully removed by oxidation. After the pre-oxidation stage and subject to the analysis result of the samples, the industrial test would enter into the final stage of immersion gold process in late 2021.

For the three months ended March 31, 2021, there was no addition to exploration and evaluation assets. As at March 31, 2021, the Group had a contractual commitment of $1,628,000 for the future development of the Gold Project.

2. Financial Assets

(i) Listed Securities

As at March 31, 2021, the fair value of listed securities held by the Group amounted to $757,000 (December 31, 2020: $247,000) which include $664,000 (December 31, 2020: $127,000) investment in listed stock, futures and options trading through registered brokerage firms in Hong Kong and $93,000 (December 31, 2020: $120,000) for a listed stock in Canada. For the three months ended March 31, 2021, the loss on trading of listed stock, indexes, futures and options amounted to $114,000 (three months ended March 31, 2020: $39,000) and fair value loss was $52,000 (three months ended March 31, 2020: $80,000).

(ii) Unlisted Investments

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

In consideration of the continuous difficult market conditions and the impact of COVID-19, the Group agreed to waive the profit guarantee compensation further for the years ended June 30, 2021 and 2022 as requested by the guarantor who committed to continue the payment of the dividend guarantee compensation for the Relevant Years.

There is no material update on the operations of Dragon Silver for the current period under review other than those disclosed in Annual MD&A. The carrying value of the investment together with the Dividend Guarantee, the Profit Guarantee and the Put Option as at March 31, 2021 was $1,286,000 (December 31, 2020: $1,286,000). Management considered that there were no material fair value changes for the investment in Dragon Silver for the three months ended March 31, 2021 (three months ended March 31, 2020: nil).

As at March 31, 2021, unlisted investments held by the Group other than Dragon Silver amounted to $257,000 (December 31, 2020: $257,000). During the period under review, the fair value loss on other unlisted investments was $3,000 (three months ended March 31, 2020: $10,000).

(iii) Debentures and Certificate of Deposit

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

As at March 31, 2021, the Group held debentures of $2,748,000 (December 31, 2020: $2,741,000) with coupon rates ranged from 4.250% to 7.375% (December 31, 2020: 4.250% to 7.375%) per annum and maturities ranged between May 31, 2021 and perpetual (December 31, 2020: May 31, 2021 and perpetual).

3. Liquidity and Capital Resources

As at March 31, 2021, working capital of the Group was amounted to about $20,763,000 (December 31, 2020: $21,306,000), which is computed by netting off its current assets of $23,349,000 (December 31, 2020: $23,842,000) with its current liabilities of $2,586,000 (December 31, 2020: $2,536,000).

Taking into account of its financial position, management of the Group considered that its cash and cash equivalents will be more than sufficient to finance its operation, including the contractual commitments of the Gold Project of approximately $1,628,000 as at March, 31 2021 (December 31, 2020: $1,633,000).

For further information, please contact:

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

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

To receive GobiMin press releases by email, send a message to info@gobimin.com and
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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.

So, the natural question for Tinka Resources (CVE:TK) shareholders is whether they should be concerned by its rate of cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

View our latest analysis for Tinka Resources

When Might Tinka Resources Run Out Of Money?

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 March 2021, Tinka Resources had CA$7.3m in cash, and was debt-free. Looking at the last year, the company burnt through CA$7.8m. So it had a cash runway of approximately 11 months from March 2021. 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 Tinka Resources' Cash Burn Changing Over Time?

Because Tinka Resources isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With the cash burn rate up 15% 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. Tinka Resources makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Tinka Resources Raise Cash?

Since its cash burn is moving in the wrong direction, Tinka Resources shareholders may wish to think ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Tinka Resources has a market capitalisation of CA$77m and burnt through CA$7.8m last year, which is 10% of the company's market value. 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.

Is Tinka Resources' Cash Burn A Worry?

On this analysis of Tinka Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Even though we don't think it has a problem with its cash burn, the analysis we've done in this article does suggest that shareholders should give some careful thought to the potential cost of raising more money in the future. On another note, Tinka Resources has 3 warning signs (and 1 which is potentially serious) we think you should know about.

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

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

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

VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) a mineral exploration company with assets in Kazakhstan and Mexico, is pleased to announce its intent to distribute shares of Arras Minerals Corp. (“Arras Minerals”) to Silver Bull shareholders.

As announced on April 1, 2021, Silver Bull transferred its Kazakh interests, including the Beskauga Option Agreement and the Ekidos and Stepnoe mineral licences, to Arras Minerals, a newly formed British Columbia incorporated company and currently an approximately 88%-owned subsidiary of Silver Bull. In return, Silver Bull received 36 million shares of Arras Minerals.

Silver Bull intends to distribute approximately 34.2 million shares of Arras Minerals to Silver Bull shareholders, which will result in one Arras Minerals share to be distributed to Silver Bull shareholders for each share of Silver Bull held. Upon completion of the distribution, Silver Bull anticipates retaining approximately 1.8 million Arras Minerals shares as a strategic investment, expected to represent approximately 4% of the outstanding Arras Minerals shares at the time of distribution. The Arras Minerals shares are not expected to be listed or posted for trading on any stock exchange immediately following the distribution. Accordingly, the Arras Minerals shares distributed to Silver Bull shareholders, though freely transferable in the United States, may be illiquid until such time as the shares are listed or a trading market develops, if at all. In Canada, shareholders of Arras Minerals will be able to trade their shares only pursuant to an exemption from prospectus requirements.

The proposed distribution of Arras Minerals shares to Silver Bull shareholders does not require shareholder approval, but is subject to certain conditions, including the registration of the Arras Minerals shares under the U.S. Securities Exchange Act of 1934 and final approval by the Board of Directors of Silver Bull. Silver Bull intends to complete the proposed distribution of the shares before the end of the third quarter of 2021, however the actual timing is subject to receipt of regulatory approvals and the final approval by the Board of Directors of Silver Bull.

Silver Bull will provide an update on record and distribution dates for the proposed distribution of Arras Minerals shares if and when it receives requisite approvals, including regulatory and board approvals.

Summary of Arras Minerals’ Assets

The Beskauga deposit is Arras Minerals’ material property and is an open pittable gold-copper-silver deposit with a NI 43-101 compliant “Indicated” Mineral Resource of 207 million tonnes grading 0.35 g/t gold, 0.23% copper and 1.09 g/t silver for 2.33 million ounces of gold, 476.1 thousand tonnes of copper, and 7.25 million ounces of silver and an “Inferred” Mineral Resource of 147 million tonnes grading 0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million ounces of gold, 220.5 thousand tonnes of copper, and 4.82 million ounces of silver.

The constraining pit was optimised and calculated using a net smelter return cut-off based on a price of: $1,500/oz for gold, $2.80/lb for copper, $17.25/oz for silver, and with an average recovery of 81.7% for copper and 51.8% for both gold and silver. Mineralization remains open in all directions as well as at depth.

Table 1. Pit-constrained Mineral Resource estimate for the Beskauga copper-gold project

The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.

On behalf of the Board of Directors
"Tim Barry"

Tim Barry, CPAusIMM
Chief Executive Officer, President and Director

INVESTOR RELATIONS:
+1 604 687 5800 info@silverbullresources.com

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This news release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the "SEC") under SEC Industry Guide 7. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however under SEC Industry Guide 7 the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this news release may not be comparable to similar information made public by U.S. companies that report under SEC Industry Guide 7 and are not subject NI 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull's future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements in this news release include, among others, statements regarding the proposed distribution by Silver Bull of shares of Arras Minerals to Silver Bull shareholders and the timing of such distribution. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull's exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in Silver Bull's Annual Report on Form 10-K for the fiscal year ended October 31, 2020 and our Quarterly Report on Form 10-Q for the interim period ended January 31, 2021 and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investment will provide foundation for a sustainable company within the new era for mining and a global move towards green electrification

VANCOUVER, BC, May 25, 2021 /CNW/ – Foran Mining Corp. (TSXV: FOM) (OTCQX: FMCXF) ("Foran" or the "Company") is pleased to announce that it has entered into a letter agreement pursuant to which Fairfax Financial Holdings Limited, through certain of its subsidiaries (collectively, "Fairfax"), will make a strategic CAD$100 million investment in the Company in exchange for the issuance by the Company of common shares, non-voting common shares, and warrants.

Fairfax has agreed to subscribe, on a private placement basis, for CAD$100 million in equity securities of Foran in two tranches (collectively, the "Financing"):

• Tranche 1 – CAD$50 million gross proceeds, comprised of 27,777,778 voting common shares (the "Common Shares") at a price of CAD$1.80 per Common Share, along with warrants to purchase an aggregate of 8,000,000 million Common Shares (the "Warrants"). The Warrants have an exercise price of CAD$2.09 per Common Share and an exercise period of five years.

• Tranche 2 – CAD$50 million gross proceeds, comprised of 27,777,778 non-voting common shares (the "Non-Voting Shares") at CAD$1.80 per Non-Voting Share, along with 8,000,000 Warrants.

The net proceeds of the Financing will be used to rapidly advance the development of the McIlvenna Bay project and centralized mill for the Hanson Lake district as well as further exploration in the Hanson Lake district, enable further investment in key technological and operational research and equipment, and general corporate purposes.

Foran believes the investment by Fairfax represents a significant endorsement of Foran's business model, the quality of its 100% owned McIlvenna Bay deposit and its wider Hanson Lake District, and its vision to build the world's first carbon neutral copper mine. This transaction greatly de-risks the business financially and is expected to bring a multitude of substantive synergies and benefits to Foran shareholders. Foran's resulting cash position of approximately CAD$120M and strategic partnership with Fairfax will enable significantly accelerated development of the McIlvenna Bay project and its phase 1 centralized mill at the profound and prospective Hanson Lake district. Foran believes that Fairfax, like Foran, values integrity, honesty, doing meaningful work in an energetic way, and is proud to partner with Fairfax in addressing the need for carbon neutral materials extraction, and to grow Fairfax's investment in a meaningful, responsible, and disciplined manner.

Foran will continue to focus efforts on arranging the remaining debt component of its project financing, which efforts will be strengthened and supported by new access to Fairfax's global network of business partners. Foran will also continue working with its established banking partners with a focus on exploring potential ESG financial products that could enhance overall economics and investment returns for all stakeholders.

Prem Watsa, Chairman and Chief Executive Officer of Fairfax, said: "Fairfax is delighted to partner with Foran and to support its management team, led by Dan Myerson, in the creation of the world's first carbon neutral copper company. We are excited to invest alongside Pierre Lassonde and Darren Morcombe in a company with an excellent base of assets and a solid strategic plan for development, which we think represents an excellent opportunity for long-term growth and value-creation."

Pierre Lassonde, a key investor in Foran, also commented: "I cannot think of a better partner for any business than Prem and his Fairfax group. This is a wonderful development for Foran which is rewriting the textbook on how to create value in mining. We look forward to building this new age copper company together."

Dan Myerson, Executive Chairman of Foran said, "This investment and partnership is a pivotal moment in our company's short history and one that will shape our future for many years and decades to come, elevating us onto the world-stage. We are honored for this profound vote of confidence, in our vision and strategy, the Foran team, our stakeholders and the province of Saskatchewan and country of Canada.

About the Investment
Closing of the Financing is subject to the receipt of TSX Venture Exchange approval, the settlement of mutually agreeable definitive documentation (including the terms and conditions of the Non-Voting Shares), the receipt of all necessary Foran shareholder approvals, and other customary closing conditions. Further announcements will be made regarding details of the development of the mine at the McIlvenna Bay deposit and the expected closing date of each tranche of the Financing. Fairfax will not receive the right to appoint any members of the board of directors of Foran.

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

About Fairfax Financial Holdings Limited
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

About Foran Mining Corp.
Foran Mining is a copper-zinc-gold-silver exploration and development company, and we are planning to build the first mine in Canada designed to be carbon neutral from day one. We are in the feasibility stage of development for our flagship McIlvenna Bay project in eastern Saskatchewan. McIlvenna Bay is a copper-zinc-gold-silver rich VMS deposit intended to be the center of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km from Flin Flon, Manitoba and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran's ground in eastern Saskatchewan, a distance of over 225km.

McIlvenna Bay is the largest undeveloped VMS deposit in the region. The Company filed a NI 43-101 Technical Report for the PFS on the McIlvenna Bay Deposit on SEDAR on April 28, 2020.

Foran trades on the TSX.V under the symbol "FOM", and on the OTCQX under the symbol "FMCXF".

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative 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. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: about the closing of the Financing (if at all), the use of proceeds of the Financing, the approval of the TSX Venture Exchange relating to the Financing, receipt of any necessary shareholder approval and satisfaction of closing conditions; completion of the feasibility study in a timely manner, and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback period, process capacity, average annual metal production, average process recoveries, anticipated mining and processing methods, proposed PFS production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, future financial or operating performance of the Company, subsidiaries and its projects; estimation of mineral resources, exploration results, opportunities for exploration, development and expansion of the McIlvenna Bay Project, its potential mineralization; the future price of metals; the realization of mineral reserve estimates, costs and timing of future exploration, the timing of the development of new deposits; requirements for additional capital; foreign exchange risk; government regulation of mining and exploration operations, environmental risks, reclamation expenses; title disputes or claims; insurance coverage; and regulatory matters. In addition, these statements involve assumptions made with regard to the Company's ability to develop the McIlvenna Bay Project and to achieve the results outlined in the PFS, and the ability to raise capital to fund construction and development of the McIlvenna Bay Project.

These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: risks relating to the Financing, volatility in the trading price of common shares of the Company, risks relating to the ability of the Company to obtain required approvals, complete definitive documentation and complete the Financing on the terms announced; our mineral reserve and resource estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the PFS; success of the Company's projects, including the McIlvenna Bay Project; prices for zinc, copper, gold and silver remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the projected and actual effects of the COVID-19 coronavirus on the factors relevant to the business of the Corporation, including the effect on supply chains, labour market, currency and commodity prices and global and Canadian capital markets, fluctuations in zinc, copper, gold and silver prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Canada, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information.

These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information.

SOURCE Foran Mining Corporation

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