Provided assay results from the Valencia 2023 drilling programme, from Mining License 149 in the Erongo region of Namibia, which forms part of the Company’s larger Norasa Uranium Project. Fifteen boreholes were drilled with a combined total of 2,684.44 metres. The objectives of the drill program were: geotechnical drilling, and logging and sampling for geo-mechanical testing for pit slope stability assessment and optimizing pit designs; testing the continuity of mineralization for resource modelling; confirming Mineral Resource Estimation (MRE) parameters; and sampling for metallurgical test work and processing design optimization. Forsys Metals Corp. shares T.FSY are trading unchanged at $0.98.

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Figure 1:

Recent boreholes drilled within the 2015 main pit outline on ML-149, Valencia West planned exploration drilling.

Figure 2:

Overview map of Norasa 2024 Q1 drill campaign on a radiometric background.

TORONTO, March 26, 2024 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”)

Forsys is pleased to provide assay results from the Valencia 2023 drilling programme, from Mining License (“ML)-149("Valencia”) in the Erongo region of Namibia, which forms part of the Company’s larger Norasa Uranium Project (“Norasa¹”).

Fifteen boreholes were drilled with a combined total of 2,684.44 metres ("m") (Figure 1). The objectives of the drill program were:

  • geotechnical drilling, and logging and sampling for geo-mechanical testing for pit slope stability assessment and optimizing pit designs;

  • testing the continuity of mineralization for resource modelling;

  • confirming Mineral Resource Estimation (MRE) parameters; and

  • sampling for metallurgical test work and processing design optimization

Drilling, geological and geotechnical logging, down-hole optical televiewer and radiometric scans have been completed on the 15 holes. Eight hundred and nineteen samples from ten of the boreholes underwent assay with established quality control protocol and procedures. The chemical results have been verified by an accredited lab and reviewed by a third party professional geologist. Highlights are as follows:

  • Multiple zones of massive alaskite intrusions were intersected. Chemical assays confirm uranium mineralization in all six of the confirmation boreholes.

  • Best mineralized borehole PQ-5 intersected 77.34 m of continuous mineralisation, averaging 439 ppm U3O8, including 41.9 m of 683 ppm U3O8.

  • 2023 intersections of mineralization correlate with the neighbouring, historic drilling, intersections and down-hole gamma survey results.

  • No major zones of rock weakness, i.e. no concerning geological structures, have been intersected. This is a positive result for the ongoing geotechnical specialist work, as it indicates conducive conditions for pit slope optimization and overall mine design.

Table 1: Highlights reported from the completed 2023 drill campaign, minimum width of 5m and cutoff of 50 ppm U3O8

BHID

FROMm

TOm

LENGTHm

U3O8ppm

 

FROMm

TOm

LENGTHm

U3O8ppm

VA23GT001

23

29

6

108

 

 

 

 

 

VA23GT001

40

47

7

189

 

 

 

 

 

VA23GT001

77

82

5

66

 

 

 

 

 

VA23GT001

95

101

6

140

 

 

 

 

 

VA23GT002

38

77

39

106

 

 

 

 

 

VA23GT002

105.3

149

43.7

152

including

104

124.1

20.1

334

VA23GT004

1

103.2

102.2

164

including

73

103.2

30.2

216

VA23GT005

22

41

19

92

 

 

 

 

 

VA23GT005

51

63

12

218

 

 

 

 

 

VA23GT005

89

94

5

123

 

 

 

 

 

VA23GT005

101

106

5

114

 

 

 

 

 

VA23GT005

116.2

129

12.8

122

 

 

 

 

 

VA23GT005

141.8

147.11

5.31

241

 

 

 

 

 

VA23GT005

229.13

239

9.87

236

 

 

 

 

 

VA23GT005

244.77

272

27.23

184

 

 

 

 

 

VA23GT006

65

81

16

136

 

 

 

 

 

VA23GT006

100

105

5

143

 

 

 

 

 

VA23GT007

18

26

8

194

 

 

 

 

 

VA23GT007

33

38

5

194

 

 

 

 

 

VA23GT007

189

195

6

213

 

 

 

 

 

VA23PQ04

30

37.5

7.5

229

 

 

 

 

 

VA23PQ04

54

59

5

181

 

 

 

 

 

VA23PQ05

3.96

81.3

77.34

439

including

36

77.9

41.9

683

VA23RE001

50

100

50

90

 

 

 

 

 

VA23RE001

114

119

5

215

 

 

 

 

 

VA23RE001

128.73

178

49.27

201

including

142

169.05

27.05

275

VA23RE001

190

237

47

253

including

202.37

225

22.63

371

VA23RE001

302.75

414

111.25

134

including

322.88

345.24

22.36

331

VA23RE002

1

21

20

105

 

 

 

 

 

VA23RE002

95

124.1

29.1

271

including

104

124.1

20.1

334

VA23RE002

129.7

152

22.3

376

including

129.7

140.8

11.1

673

VA23RE002

160

180

20

162

 

 

 

 

 

VA23RE002

244

251.2

7.2

158

 

 

 

 

 

VA23RE002

258

268

10

171

 

 

 

 

 

VA23RE002

275

288

13

139

 

 

 

 

 

Geological context:

  • Boreholes GT-01 to GT-07 were drilled from within the planned Valencia Main mine pit, angled and directed away from the centre of the 2015 pit shell to investigate the ground conditions for the pit slope design.

  • Two boreholes, RE-01 and RE-02, were strategically positioned to confirm mineralization from the 2015 FS Mineral Resource Estimate at Valencia in a geologically unique zone.

  • Holes PQ-01 to PQ-05 were drilled at Valencia for a total of 285.31 m, providing approximately 3 tons of sample for metallurgical testing.

Recent boreholes drilled within the 2015 main pit outline on ML-149, Valencia West planned exploration drilling.

Figure 1: Recent boreholes drilled within the 2015 main pit outline on ML-149, Valencia West planned exploration drilling.https://www.globenewswire.com/NewsRoom/AttachmentNg/bdc97a7e-8ff7-4fa6-8c7e-6a71aa561a7d

Borehole samples were selected for geochemical assay from the routine downhole radiometric scanning results and sent to Trace Elements Analysis Laboratories (Pty) Ltd (“TEA Labs”) in Swakopmund for sample preparation and analyses by XRF. For internal quality control purposes TEA Labs has weekly round robins with independent laboratories at Rosh Pinah, Husab Uranium, and Langer Heinrich mine laboratories.

Forsys employs an industry standard QA/QC program with Standard Reference Materials, blanks, coarse duplicates and pulp duplicates inserted into each batch of samples analysed. 4% of the samples sent to TEA Labs were sent for check analyses to SGS Laboratories in South Africa, which is an independent accredited laboratory. The sample results are further validated by comparison with the downhole radiometric survey results.

Table-2 below lists borehole intersections with minimum intersections of 50ppm U3O8 over 5m:

Table 2: 2023 drill campaign: drill type, assay, composites, downhole gamma survey

BHID

X

Y

Z

FROM

TO

LENGTH

EOH

RC

CORE

Gamma

U

Th

U3O8

 

UTM

UTM

m amsl

m

m

m

m

m

m

cps

ppm

ppm

ppm

VA23GT001

523609

7528504

716.505

0

23

23

222

222

0

VA23GT001

523602

7528501

703.981

23

29

6

222

222

722

92

108

VA23GT001

523598

7528499

696.608

29

40

11

222

222

308

0

VA23GT001

523594

7528498

688.796

40

47

7

222

222

702

160

189

VA23GT001

523586

7528494

672.673

47

77

30

222

222

235

0

VA23GT001

523578

7528490

657.402

77

82

5

222

222

761

55

66

VA23GT001

523574

7528489

649.543

82

95

13

222

222

204

0

VA23GT001

523570

7528487

641.25

95

101

6

222

222

119

140

VA23GT001

523541

7528475

585.825

101

222

121

222

222

0

VA23GT002

523526

7528889

697.146

0

38

38

203.8

102

100

108

0

VA23GT002

523518

7528896

660.245

38

77

39

203.8

102

100

495

90

106

VA23GT002

523510

7528904

628.372

77

105.3

28.3

203.8

102

100

201

2

VA23GT002

523502

7528914

594.818

105.3

149

43.7

203.8

102

100

744

129

36

152

VA23GT002

523496

7528926

561.152

149

177.95

28.95

203.8

102

100

214

1

VA23GT002

523491

7528936

533.545

184

202.8

18.8

203.8

102

100

216

0

VA23GT003

523841

7529328

692.427

0

102

102

102

102

0

VA23GT003

523861

7529274

633.213

0

227.28

227.28

227.28

225

186

0

VA23GT004

524440

7529153

734.567

0

1

1

152.26

50.26

102

0

VA23GT004

524467

7529148

690.761

1

103.2

102.2

152.26

50.26

102

1134

139

164

VA23GT004

524507

7529140

627.146

103.2

152.26

49.06

152.26

50.26

102

150

1

VA23GT005

524189

7528751

729.233

0

22

22

275.47

102

173

0

VA23GT005

524187

7528755

709.298

22

41

19

275.47

102

173

421

78

92

VA23GT005

524185

7528759

695.341

41

51

10

275.47

102

173

265

0

VA23GT005

524184

7528762

684.832

51

63

12

275.47

102

173

1185

185

218

VA23GT005

524181

7528767

667.017

63

89

26

275.47

102

173

252

0

VA23GT005

524178

7528773

652.66

89

94

5

275.47

102

173

496

104

123

VA23GT005

524177

7528775

647.267

94

101

7

275.47

102

173

178

0

VA23GT005

524176

7528777

641.914

101

106

5

275.47

102

173

574

114

VA23GT005

524174

7528781

635.168

106

116.2

10.2

275.47

102

173

162

0

VA23GT005

524172

7528786

624.989

116.2

129

12.8

275.47

102

173

653

122

VA23GT005

524170

7528791

613.699

129

141.8

12.8

275.47

102

173

277

9

VA23GT005

524168

7528795

605.732

141.8

147.11

5.31

275.47

102

173

1282

205

7

241

VA23GT005

524159

7528815

567.876

147.11

229.13

82.02

275.47

102

173

180

0

VA23GT005

524150

7528836

528.09

229.13

239

9.87

275.47

102

173

1394

200

25

236

VA23GT005

524148

7528840

521.336

239

244.77

5.77

275.47

102

173

142

0

VA23GT005

524145

7528847

507.084

244.77

272

27.23

275.47

102

173

977

156

51

184

VA23GT005

524142

7528854

493.825

272

275.47

3.47

275.47

102

173

0

VA23GT006

523928

7528337

693.644

0

65

65

225.14

100

125

251

0

VA23GT006

523936

7528330

654.546

65

81

16

225.14

100

125

504

115

136

VA23GT006

523940

7528328

637.595

81

100

19

225.14

100

125

312

0

VA23GT006

523943

7528327

625.965

100

105

5

225.14

100

125

734

121

28

143

VA23GT006

523957

7528323

566.26

105

223.14

118.14

225.14

100

125

242

0

VA23GT007

524262

7529312

734.236

0

18

18

275.35

102

168

0

VA23GT007

524257

7529316

723.059

18

26

8

275.35

102

168

1141

164

194

VA23GT007

524254

7529318

716.725

26

33

7

275.35

102

168

350

0

VA23GT007

524251

7529320

711.742

33

38

5

275.35

102

168

515

165

194

VA23GT007

524217

7529357

652.171

38

189

151

275.35

102

168

281

0

VA23GT007

524182

7529394

592.48

189

195

6

275.35

102

168

773

180

5

213

VA23GT007

524162

7529417

561.769

195

275.35

80.35

275.35

102

168

0

VA23PQ01

523762

7528744

688.025

0

59.95

59.95

60

59.95

892

0

VA23PQ02

523714

7529040

709.151

0

23.7

23.7

23.7

23.7

0

VA23PQ03

523869

7529019

702.407

0

61.27

61.27

60.27

60.27

0

VA23PQ04

523745

7529037

702.033

0

30

30

59

59

291

0

VA23PQ04

523744

7529037

683.329

30

37.5

7.5

59

59

1230

194

46

229

VA23PQ04

523743

7529038

671.361

37.5

54

16.5

59

59

258

0

VA23PQ04

523743

7529038

660.637

54

59

5

59

59

1019

181

VA23PQ05

523722

7528668

721.02

0

3.96

3.96

80

80

0

VA23PQ05

523722

7528668

680.372

3.96

81.3

77.34

80

80

3138

372

48

439

VA23RE001

524309

7528910

724.265

0

50

50

419.72

102

318

512

0

VA23RE001

524286

7528933

686.478

50

100

50

419.72

102

318

375

76

90

VA23RE001

524270

7528949

663.893

100

114

14

419.72

102

318

121

5

VA23RE001

524265

7528954

657.753

114

119

5

419.72

102

318

1319

190

215

VA23RE001

524261

7528958

653.019

119

128.73

9.73

419.72

102

318

85

0

VA23RE001

524244

7528974

634.211

128.73

178

49.27

419.72

102

318

1266

201

VA23RE001

524227

7528991

614.788

178

190

12

419.72

102

318

156

0

VA23RE001

524210

7529007

596.799

190

237

47

419.72

102

318

1892

215

253

VA23RE001

524178

7529038

563.102

237

302.75

65.75

419.72

102

318

83

1

VA23RE001

524127

7529089

511.66

302.75

414

111.25

419.72

102

318

134

VA23RE001

524093

7529123

478.027

414

419.72

5.72

419.72

102

318

2

39

47

VA23RE002

524153

7529118

748.623

0

1

1

296.21

102

153

0

VA23RE002

524159

7529114

740.728

1

21

20

296.21

102

153

671

89

105

VA23RE002

524186

7529096

706.86

21

95

74

296.21

102

153

107

15

18

VA23RE002

524217

7529075

670.879

95

124.1

29.1

296.21

102

153

1980

229

271

VA23RE002

524228

7529068

659.428

124.1

129.7

5.6

296.21

102

153

330

15

17

VA23RE002

524237

7529063

650.437

129.7

152

22.3

296.21

102

153

2767

318

376

VA23RE002

524247

7529057

640.726

152

160

8

296.21

102

153

200

0

VA23RE002

524256

7529051

631.919

160

180

20

296.21

102

153

1046

137

162

VA23RE002

524285

7529034

606.377

180

244

64

296.21

102

153

130

0

VA23RE002

524309

7529019

585.009

244

251.2

7.2

296.21

102

153

1021

134

158

VA23RE002

524314

7529016

580.956

251.2

258

6.8

296.21

102

153

613

12

VA23RE002

524319

7529012

576.141

258

268

10

296.21

102

153

1370

145

171

VA23RE002

524325

7529008

571.309

268

275

7

296.21

102

153

380

0

VA23RE002

524332

7529004

565.685

275

288

13

296.21

102

153

786

118

139

VA23RE002

524339

7528999

559.753

288

296.21

8.21

296.21

102

153

0

2024 Drilling Program on ML-149, Valencia

The Company also announces that it has commenced a new drilling program at Valencia. Three zones of potential uranium mineralization situated outside of the existing resource block model are now being investigated.

The drilling program focusses on three target areas; refer to Table-3 and Figure-2 for individual drill hole locations:

  • A favourable horizon identified at the Jolie Zone (~ 1km north of Valencia pit)

  • Valencia West Extension

  • Valencia South

Twenty-nine boreholes are scheduled for a total of 5,236m of drilling to assess mineralization to depths of up to 380 m below collar.

The three areas of mineralization potential were delineated from historic exploration work that included; aerial photo interpretation, geological mapping, aeromagnetic surveys, airborne and ground scintillometer surveys and exploration drilling. Investigation by drilling is required to define the mine’s surface infrastructure development and also to explore for resource upside potential in these areas.

Table 3: Below lists the holes planned for RC drilling. A diamond drill rig is available for extension of the RC drill section, as required by the ground conditions.

BHID

Rig / Ranking

X COLLAR

Y COLLAR

Z COLLAR

EOH

BRG

DIP

 

 

UTM

UTM

m

m

degree

degree

VA24-01

VA_West

523370

7528883

724

150

330

60

VA24-02

VA_West

523303

7528855

725

132

330

60

VA24-03

VA_West

523165

7528783

729

126

330

60

VA24-04

VA_West

523178

7528750

721

150

330

60

VA24-05

VA_West

523100

7528754

731

144

330

60

VA24-06

VA_West

523113

7528729

726

180

330

70

VA24-07

VA_West

522990

7528722

735

98

330

60

VA24-08

VA_West

523015

7528674

727

132

330

60

VA24-09

VA_West

522912

7528692

735

168

330

60

VA24-10

VA_West

522818

7528684

736

120

330

60

Exp13

VA_West

522738

7528660

741

98

330

60

Exp14

VA_West

522763

7528616

734

172

330

60

Exp15

VA_West

523439

7528939

730

138

340

60

Exp04

VA_West

523139

7528852

743

84

330

61

Exp07

VA_West

523066

7528822

743

72

330

60

Exp10

VA_West

522885

7528741

750

120

330

60

Exp08

VA_West

523411

7528974

724

78

330

60

Exp17

VA_West

523493

7528994

721

98

330

60

Jolie01

Jolie

523883

7529918

680

120

330

60

Jolie02

Jolie

523917

7530008

694

66

330

60

Jolie03

Jolie

524046

7529973

705

150

330

60

VA_S_1

VA_South

523716

7528300

725

260

270

60

VA_S_2

VA_South

523796

7528300

725

300

270

60

VA_S_3

VA_South

523876

7528300

725

360

270

60

VA_S_4

VA_South

523956

7528300

725

380

270

60

VA_S_5

VA_South

523723

7528500

725

260

270

60

VA_S_6

VA_South

523796

7528500

735

320

270

60

VA_S_7

VA_South

523876

7528489

725

380

270

60

VA_S_8

VA_South

523956

7528500

732

380

270

60

 

 

 

Total metres:

5,236

 

 

Boreholes VA24-01 to VA10 are completed, awaiting down-hole surveys, detailed recording, and sampling for chemical assay. Additional drilling might be required to test at depth, dependent onthe results to be obtained from the campaign.

Overview map of Norasa 2024 Q1 drill campaign on a radiometric background.

Figure 2: Overview map of Norasa 2024 Q1 drill campaign on a radiometric background.https://www.globenewswire.com/NewsRoom/AttachmentNg/38b9bda9-00f8-4a9f-b9db-85c1beade129

Qualified Persons Statement

The information in this release that relates to “project update” for the Norasa Project is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., South Africa. Dr Freemantle is a consultant for Valencia Uranium (Pty) Ltd. and is a member of the SACNASP. Dr Freemantle has sufficient experience and knowledge that is relevant to the style of mineralisation and type of deposits under consideration as well as to the activity that is being undertaken to fulfill requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears.

About Forsys Metals Corp.

Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly-owned Norasa Uranium Project, located in the politically friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638).

Further information is available at the Company website www.forsysmetals.com.

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations.

For additional information please contact:

Richard Parkhouse, Director, Investor Relationsemail: rparhkhouse@forsysmetals.com email: info@forsysmetals.com

Forward-Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

_____________________________¹ The Norasa Uranium Project (“Norasa”) is wholly-owned by the Company’s 100% subsidiary Valencia Uranium (Pty) Ltd. (“Valencia Uranium”) and comprises the Valencia uranium deposits (held under ML-149) ("Valencia”) and the Namibplaas uranium deposit (under EPL-3638, application for ML-251) (“Nambiplaas”).

Forsys Metals Corp

Figure 1

Permits obtained

TORONTO, March 07, 2024 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that the Ministry of Mines and Energy of the Republic of Namibia (“Ministry”) has renewed the Company’s Namibplaas Exclusive Prospecting License (“EPL”)– 3638, that forms part of its Norasa Uranium Project (“Norasa1”).

This licence has been renewed for a further two years until February 2026. In September 2022 Forsys has also made an application to the Ministry to convert EPL-3638 to a full 25-year Mining Licence (“ML"), and this submission is pending as ML-251. EPL-3638 remains in good standing while the Ministry processes Forsys’ ML-251 submission.

“EPL-3638 covers a strategic land position with significant exploration upside,” commented Pine Van Wyk, Forsys’ In-Country Director. “We greatly appreciate the Ministry’s continued support as we accelerate development of the Norasa project and continue to work closely with the Ministry in obtaining the ML.”

Permits obtained

Figure 1: Permits obtained

_________________________________1 The Norasa Uranium Project (“Norasa“) is wholly-owned by the Company’s 100% subsidiary Valencia Uranium (Pty) Ltd. (“Valencia Uranium”) and comprises the Valencia uranium deposits (held under ML-149) ("Valencia”) and the Namibplaas uranium deposit (under EPL-3638, application for ML-251) (“Nambiplaas”).

About Forsys Metals Corp.

Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly-owned Norasa Uranium Project, located in the politically friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638).

Further information is available at the Company website www.forsysmetals.com

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations.

For additional information please contact: Richard Parkhouse, Director, Investor Relationsemail: rparkhouse@forsysmetals.com

Forward Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar+.com. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9390ef6c-7a69-4f1a-9a4f-a91f49d22e5f

Key Insights

  • Institutions' substantial holdings in Forsys Metals implies that they have significant influence over the company's share price

  • 55% of the business is held by the top 3 shareholders

  • Ownership research, combined with past performance data can help provide a good understanding of opportunities in a stock

A look at the shareholders of Forsys Metals Corp. (TSE:FSY) can tell us which group is most powerful. The group holding the most number of shares in the company, around 47% to be precise, is hedge funds. Put another way, the group faces the maximum upside potential (or downside risk).

Given the vast amount of money and research capacities at their disposal, hedge funds ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.

Let's take a closer look to see what the different types of shareholders can tell us about Forsys Metals.

Check out our latest analysis for Forsys Metals

ownership-breakdownWhat Does The Institutional Ownership Tell Us About Forsys Metals?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

Forsys Metals 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. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Forsys Metals' historic earnings and revenue below, but keep in mind there's always more to the story.

earnings-and-revenue-growth

It looks like hedge funds own 47% of Forsys Metals shares. That worth noting, since hedge funds are often quite active investors, who may try to influence management. Many want to see value creation (and a higher share price) in the short term or medium term. The company's largest shareholder is Leo Fund Managers Limited, with ownership of 30%. In comparison, the second and third largest shareholders hold about 17% and 8.1% of the stock. Additionally, the company's CEO Mark Frewin directly holds 0.6% of the total shares outstanding.

To make our study more interesting, we found that the top 3 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known.

Insider Ownership Of Forsys Metals

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Shareholders would probably be interested to learn that insiders own shares in Forsys Metals Corp.. In their own names, insiders own CA$2.2m worth of stock in the CA$185m company. This shows at least some alignment, but we usually like to see larger insider holdings. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public– including retail investors — own 38% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 1 warning sign for Forsys Metals that you should be aware of before investing here.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Melbourne, Victoria –News Direct– Aura Energy Ltd

Newly appointed Aura Energy Ltd (ASX:AEE) CEO Andrew Grove joins Jonathan Jackson in the Proactive studio to discuss the company’s uranium ambitions and its work at the Tiris Uranium Project in Mauritania, which is poised to become a leading global near-term uranium operation following the delivery of a positive Front End Engineering Design (FEED) study. Grove gives his insight into the FEED study and what the findings indicate about the project's potential. He also outlines the expansion plans for Tiris, highlighting the strategic direction and growth objectives. Further to this, Grove speaks about the Swedish Government’s potential reversal of its uranium mining ban and what this would mean for the company’s Haagan Project in Sweden, including a possible increase in Net Present Value and strategic positioning.

Grove said: "The FEED study clearly demonstrates that Tiris will be a low-cost, high value, near-term uranium producer with the ability to scale in a very strong uranium market. The market is in structural deficit and likely to continue that way for an extended period.

"The strong economics at Tiris are supported by the simple, low risk mining and beneficiation that delivers the high-grade, 1,750ppm to 2,000ppm U3O8, ore to the leach plant and there are no requirements for crushing or grinding the ore.

"These high grades are only matched by the deep underground mines in Canada and exceeding any current or proposed open pit uranium mines worldwide.”

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/aura-energy-releases-positive-feed-study-at-tiris-548687729

CALGARY, AB, May 30, 2023 /CNW/ – Uravan Minerals Inc. ("Uravan" or the "Company") (TSXV: UVN) held its Annual General and Special Meeting of shareholders on May 23, 2023, for the financial year ended December 31, 2022 (the "Meeting").  At the Meeting the shareholders passed, among other things, an ordinary resolution approving the Company's acquisition of Nuclear Fuels Inc. ("Nuclear Fuels") (the "Transaction") as contemplated in the Business Combination Agreement dated April 19, 2023 (the "Definitive Agreement"), announced in a press release May 8, 2023.

Summary of the Transaction

The Transaction, as approved by the shareholders at the Company's Meeting, includes:

  • the acquisition of all of the outstanding shares of Nuclear Fuels in exchange for 41,750,225 post-consolidated common shares of the Company. It is expected that shareholders of Nuclear Fuels will hold an aggregate of approximately 90.4% of the Resulting Issuer's common shares, with current shareholders of the Company holding the remaining the remaining 9.6%.

  • a name change from Uravan Minerals Inc. to Nuclear Fuels Inc.,

  • a share consolidation of the Company's Common Shares on the basis of one existing common share for each eight-tenths (0.8) of one post-consolidation common share,

  • the continuation of the Company from Alberta to British Columbia, and

  • the listing of the common shares of the Company following completion of the Transaction (the "Resulting Issuer") on the Canadian Securities Exchange ("CSE"), and corresponding delisting from the TSX Venture Exchange ("TSXV").

Details of the Transaction between Uravan and Nuclear Fuels are set forth in the Company's Management Information Circular, which can be viewed, along with the Definitive Agreement at the Company's website: www.uravanminerals.com and/or the Company's filings at www.sedar.com.

The Definitive Agreement provides that on closing of the Transaction the board of directors of the Resulting Issuer (Nuclear Fuels) will be comprised of Michael Collins, William Sheriff, David Miller, Eugene Spiering and Larry Lahusen.  In addition, Monty Sutton and Jacqueline Collins have agreed to act as the Chief Financial Officer and the Corporate Secretary of the Resulting Issuer (Nuclear Fuels), respectively.

Following completion of the Transaction, enCore Energy US Corp, a wholly owned subsidiary of enCore Energy Corp. (NYSE:EU, TSXV:EU) will hold approximately 19.9% of the Resulting Issuer (Nuclear Fuels).

Trading in the Common Shares of Uravan were halted in connection with the announcement of the Transaction and will remain halted until completion of the Transaction and listing of the Resulting Issuer (Nuclear Fuels) on the CSE, or until termination of the Transaction. Closing of the Transaction is subject to the approval of the listing of the common shares of the Company on the CSE.  There can be no assurance that the Transaction will be completed as proposed or at all. The Transaction between the Company and Nuclear Fuels was negotiated at arm's length.

Information Regarding Nuclear Fuels

Nuclear Fuels was incorporated on May 25, 2022, and is focused on the exploration for critical metals and natural uranium occurrences. Nuclear Fuels owns two wholly owned subsidiaries, being: Hydro Restoration Corporation incorporated in the State of Delaware, which holds the Kaycee uranium property in Johnson County, Wyoming and the Bootheel uranium project in Albany County, Wyoming; and Belt Line Resources, Inc. incorporated in the State of Texas, which holds the Moonshine Springs uranium property in Mohave County, Arizona. Nuclear Fuels also holds an option to acquire the following properties: LAB Critical Metals project in Newfoundland and Labrador and Hightest Bootheel uranium property in Albany County, Wyoming.

Nuclear Fuels is well funded with approximate cash holdings of $7 million (Canadian Dollars).

Following completion of the Transaction, the business of the Resulting Issuer (Nuclear Fuels) is anticipated to be focused on the advancement of the LAB Critical Metals Project and the Kaycee Property. The Resulting Issuer (Nuclear Fuels) intends to review potential exploration opportunities on its other properties and actively investigate other potential uranium acquisitions. Further information on Nuclear Fuels' current project holdings is available in the Company's Management Information Circular.

Completion of the Transaction is subject to a number of conditions, including but not limited to approval for listing of the resulting company on the CSE. There can be no assurance that the Transaction will be completed as proposed or at all.  Investors are cautioned that, except as disclosed in the management information circular or listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has approved or disapproved of the contents of this press release

SOURCE Uravan Minerals Inc.

Cision

View original content: http://www.newswire.ca/en/releases/archive/May2023/30/c6952.html

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:

Brighthouse Financial BHF is a holding company formed to own the legal entities that historically operated a substantial portion of the former Retail segment of MetLife, Inc.The Zacks Consensus Estimate for its current year earnings has been revised 30.3% downward over the last 60 days.

BHP Group Limited BHP is one of the world's largest diversified resource companies with operations across several continents with a market capitalization of around $183 billion. The Zacks Consensus Estimate for its current year earnings has been revised almost 21.1% downward over the last 60 days.

ASM International ASMIY is a leading supplier of equipment and solutions used to produce semiconductor devices, or integrated circuits, for both the front-end and back-end segments of the semiconductor market. The Zacks Consensus Estimate for its current year earnings has been revised 6.5% downward over the last 60 days.

View the entire Zacks Rank #5 List.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report Brighthouse Financial, Inc. (BHF) : Free Stock Analysis Report ASM International NV (ASMIY) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

VANCOUVER, BC, April 21, 2022 /CNW/ – Trading resumes in:

Company: Uravan Minerals Inc.

TSX-Venture Symbol: UVN

All Issues: Yes

Resumption (ET): 9:30 AM 4/22/2022

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

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

Cision

View original content: http://www.newswire.ca/en/releases/archive/April2022/21/c2738.html

CALGARY, AB, March 29, 2022 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan" or the "Company") announces that the letter of intent dated September 30, 2021, in respect of a proposed transaction ("Transaction") between Uravan and Empire Hydrogen Energy Systems Inc. has been terminated in accordance with the letter of intent, Uravan's expenses incurred in connection with the Transaction have been reimbursed.

Uravan will continue to pursue and evaluate other businesses and strategic opportunities and will make further announcements with respect to these efforts as soon as practically possible.

The TSX Venture Exchange (the "TSXV") is conducting a trading resumption review and the Company will provide an update as to the status of the review when available.

Cautionary Statement

This press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. This news release contains forward-looking statements pertaining the listing of the Company's shares. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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

SOURCE Uravan Minerals Inc.

Cision

View original content: http://www.newswire.ca/en/releases/archive/March2022/29/c0184.html

CALGARY, AB, Jan. 21, 2022 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan") announces the sale of Uravan's 100% interest in the Stewardson West property, located in the Athabasca Basin, northern Saskatchewan and Uravan's 1.0 % net smelter return royalty (the "NSR") on the "Royalty Properties" owned by Cameco Corporation ("Cameco") to International Prospect Ventures Ltd ("IZZ").

In consideration for the Stewardson West property and the NSR, IZZ paid Uravan cash consideration of $35,000 and 500,000 common shares of IZZ.

Cautionary StatementThis press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. This news release contains forward-looking statements pertaining. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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

Uravan Minerals Inc. #1117-240, 70 Shawville Blvd. SE, Calgary, AB T2Y 2Z3 Phone: 403-607-5908

SOURCE Uravan Minerals Inc.

Cision

View original content: http://www.newswire.ca/en/releases/archive/January2022/21/c5346.html

CALGARY, AB, Jan. 17, 2022 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan") announces the sale of Uravan's 2% net smelter return royalty (the "Albert Lake NSR") on the Albert Lake Saskatchewan Property, to Fathom Minerals Ltd., a whole owned subsidiary of Fathom Nickel Inc. ("Fathom"). Pursuant to a Royalty Purchase Agreement dated January 12, 2022, between Fathom and Uravan, Fathom paid cash consideration for the purchase of the Albert Lake NSR of $175,000.

The Albert Lake NSR was originally granted to Uravan in accordance with a Purchase and Sale Agreement dated April 15, 2015, whereby Fathom purchased Uravan's 100% interest the Albert Lake property (previously Rottenstone) located in northern Saskatchewan.

Cautionary StatementThis press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. This news release contains forward-looking statements pertaining. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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

SOURCE Uravan Minerals Inc.

Cision

View original content: http://www.newswire.ca/en/releases/archive/January2022/17/c6728.html

CCJ earnings call for the period ending September 30, 2021.

Energy Fuels Inc. UUUU is anticipated to report a loss when it reports third-quarter 2021 results later this week.

Q3 Estimates

The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $10.5 million, indicating growth of 2,049% from the prior-year quarter. The consensus mark for earnings stands at a loss of 3 cents per share, compared with a loss of 8 cents per share in the year-ago quarter. The estimates have remained stable over the past 30 days.

Q2 Results

In the last reported quarter, Energy Fuels reported revenues of $0.46 million, which improved 15% year over year but missed the Zacks Consensus Estimate. The company reported a second-quarter 2021 loss per share of 7 cents, wider than the Zacks Consensus Estimate of a loss per share of 4 cents. The uranium mining company had reported a loss of 8 cents in the second quarter of 2020.

The company has a trailing four-quarter negative earnings surprise of 43.7%, on average.

Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc Price and EPS SurpriseEnergy Fuels Inc Price and EPS Surprise
Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc price-eps-surprise | Energy Fuels Inc Quote

Factors to Note

Energy Fuels has strategically opted not to enter into any uranium sales commitments in 2021. Consequently, its uranium production is expected to be added to existing inventories, which were anticipated to total around 691,000 pounds at 2021-end. The company intends to hold this inventory until prices for uranium go up significantly. It is also holding on to its vanadium until spot prices spike from current levels. It expects to sell finished vanadium products when justified to the metallurgical industry, and other markets that demand a higher-purity product, including the aerospace, chemical, and potentially the vanadium battery industries.

Meanwhile, the company has been pursuing new sources of revenues, including its emerging REE business, and new sources of alternate feed materials and alternative fee processing opportunities at the White Mesa Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). It has also been seeking new sources of natural monazite sands for its emerging rare earth business, and continues to support the U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

In September, the company announced that approximately 15 containers of RE (rare earth) Carbonate (300 ton of product) produced at the White Mesa Mill are being shipped to Europe where it will be processed into separated rare earth oxides and other value-added RE compounds. This creates a new U.S. to Europe RE supply chain along with new opportunities and financial benefits. Energy Fuels is the first U.S. company to produce a marketable mixed REE concentrate ready for separation on a commercial scale.

Energy Fuel’s revenues for the quarter to be reported are likely to reflect fees for ore received from a third-party uranium mine. On Oct 6, 2020, the company announced that it has repaid all of its debt — achieving debt free status for the first time since 2012. This is likely to have reduced interest expenses and thereby, might have favored margins in the third quarter. The company’s ongoing efforts to lower costs are likely to get reflected in the third-quarter bottom line.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Energy Fuels this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Energy Fuels is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #3.

Price Performance

Zacks Investment ResearchZacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Energy Fuel’s shares have soared 444.8% in the past year compared with the industry’s rally of 64.4%.

Stocks Poised to Beat Estimates

Here are some Basic Materials stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.

Teck Resources Ltd TECK has an Earnings ESP of +9.68% and a Zacks Rank of 1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Olin Corporation OLN, a Zacks #1 Ranked stock, has an Earnings ESP of +5.79%.

Celanese Corporation CE has a Zacks Rank #2 and an Earnings ESP of +3.14%, at present.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Energy Fuels Inc (UUUU) : Free Stock Analysis Report

Celanese Corporation (CE) : Free Stock Analysis Report

Olin Corporation (OLN) : Free Stock Analysis Report

Teck Resources Ltd (TECK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, Oct. 25, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Uranium, Strategic and Precious Metals Investor Conference are now available for on-demand viewing.

(PRNewsfoto/VirtualInvestorConferences.com)(PRNewsfoto/VirtualInvestorConferences.com)
(PRNewsfoto/VirtualInvestorConferences.com)

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/3m221x1

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Presentation

Ticker(s)

Keynote Presentation

Guy Keller, Commodities Analyst at Tribeca Investment Partners

Moderator: David Batista, Senior Managing Director at Viriathus

Boss Energy Ltd.

(OTCQB: BQSSF | ASX: BOE)

Elevate Uranium Ltd.

(Pink: ELVUF | ASX: EL8)

Lotus Resources Ltd.

(OTCQB: LTSRF | ASX: LOT)

Bannerman Energy Ltd.

(OTCQB: BNNLF | ASX: BMN)

Consolidated Uranium Inc.

(OTCQB: CURUF | TSX-V: CUR)

UEX Corp.

(OTCQB: UEXCF | TSX: UEX)

Blue Sky Uranium Corp.

(OTCQB: BKUCF | TSX-V: BSK)

Peninsula Energy Ltd.

(OTCQB: PENMF | ASX: PEN)

Global Atomic Corp.

(OTCQX: GLATF | TSX: GLO)

Baselode Energy Corp.

(OTCQB: BSENF | TSX-V: FIND)

enCore Energy Corp.

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Paladin Energy Ltd.

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Adriatic Metals plc

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Heliostar Metals Ltd.

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Steppe Gold Ltd.

(OTCQX: STPGF | TSX: STGO)

Newcore Gold Ltd.

(OTCQX: NCAUF | TSX-V: NCAU)

Giga Metals Corp.

(OTCQX: HNCKF | TSX-V: GIGA)

Barksdale Resources Corp.

(OTCQX: BRKCF | TSX-V: BRO)

Liberty Gold Corp.

(OTCQX: LGDTF | TSX: LGD)

TriStar Gold, Inc.

(OTCQX: TSGZF | TSX-V: TSG)

Nevgold Corp.

(OTCQB: NAUFF | TSX-V: NAU)

Adyton Resources Corp.

(OTCQB: ADYRF | TSX-V: ADY)

Pacific Ridge Exploration Ltd.

(OTCQB: PEXZF | TSX-V: PEX)

First Mining Gold Corp.

(OTCQX: FFMGF | TSX: FF)

Blue Thunder Mining Inc.

(OTCQB: BLTMF | TSX-V: BLUE)

Pampa Metals Corp.

(OTCQX: PMMCF | CSE: PM)

Blackstone Minerals Ltd.

(OTCQX: BLSTF | ASX: BSX)

Frontier Lithium Inc.

(OTCQX: LITOF | TSX-V: FL)

Tinka Resources Ltd.

(OTCQB: TKRFF | TSX-V: TK)

Bear Creek Mining Corp.

(OTCQX: BCEKF | TSX-V: BCM)

C2C Gold Corp.

(OTCQB: CTCGF | CSE: CTOC)

Salazar Resources Ltd.

(OTCQX: SRLZF | TSX-V: SRL)

Troilus Gold Corp.

(OTCQX: CHXMF | TSX: TLG)

Cypress Development Corp.

(OTCQB: CYDVF | TSX-V: CYP)

Galantas Gold Corp.

(OTCQX GALKF | TSX-V: GAL)

Nova Royalty Corp.

(OTCQB: NOVRF | TSX-V: NOVR)

O3 Mining Inc.

(OTCQX: OIIIF | TSX.V: OIII)

White Gold Corp.

(OTCQX: WHGOF | TSX-V: WGO)

Nighthawk Gold Corp.

(OTCQX: MIMZF | TSX: NHK)

Labrador Gold Corp.

(OTCQX: NKOSF | TSX-V: LAB)

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Q3 2021 Trading Update – Record quarterly portfolio contribution

LONDON, UK / ACCESSWIRE / October 25, 2021 / Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE:APF, TSX:APY), issues the following trading update for the period 1 July to 25 October 2021. Unless otherwise stated, all unaudited financial information is for the quarter ended 30 September 2021.

Highlights

Q3 2021

Q2 2021

9M 2021

9M 2020

$m

QoQ%

$m

$m

YoY%

$m

Kestrel

11.70

139%

4.90

21.47

19%

18.12

Voisey's Bay

6.81

119%

3.12

9.93

Narrabri

0.52

34%

0.39

1.67

(45%)

3.05

Mantos Blancos

1.57

11%

1.41

4.32

83%

2.36

Maracás Menchen

0.90

8%

0.83

2.33

(0.13)

Four Mile

0.10

(1%)

0.10

0.21

(37%)

0.33

Royalty and stream income

21.60

10.75

39.93

23.73

Dividends – LIORC & Flowstream

1.80

(9%)

1.98

4.67

6%

4.40

Interest – McClean Lake

0.61

(2%)

0.62

1.84

10%

1.67

Royalty and stream related revenue

24.01

80%

13.35

46.43

56%

29.80

EVBC*

0.74

(25%)

0.99

2.33

8%

2.17

Principal repayment – McClean Lake

0.51

0.51

2%

0.50

Less:

Metal streams cost of sales

(1.65)

116%

(0.77)

(2.42)

Total portfolio contribution

23.61

74%

13.57

46.85

44%

32.47

* Following the application of IFRS 9, the royalties received from EVBC are reflected in the fair value movement of the underlying royalty rather than recorded as royalty income.

  • Portfolio contribution of $23.6m in Q3 2021 – the highest individual quarter in the Company's history

  • Portfolio contribution in the quarter was 180% higher than Q3 20 and also ahead of that generated in the first six months of 2021

  • Results benefitted from very high coking coal prices being captured at Kestrel during the third quarter, resulting in revenue of $11.7m

  • Current coking coal spot prices are ~US$390/t, significantly ahead of the average for Q3 21, suggesting an even stronger quarter to come in Q4

  • Cobalt prices were also higher during the third quarter, resulting in a net contribution of $5.2m from Voisey's Bay – and with spot prices in excess of US$27/lbs, the outlook for the remainder of the year looks promising

  • Solid performance from the Group's Maracás Menchen, Mantos Blancos and EVBC royalties in the third quarter – with possible volume upside to come in the final quarter

  • Further well documented production and quality issues at Narrabri, impacting revenue in the third quarter

  • Strength of portfolio contribution generated in Q3 21 resulted in the Group's leverage ratio dropping below 2x at the end of the third quarter

Julian Treger, Chief Executive Officer of the Company, commented:

"We are delighted to announce a record quarter of portfolio contribution from our royalty and streaming assets.

Having lagged the broader commodity basket, coking coal prices began to rebound significantly at the beginning of the third quarter, averaging around $210/t for the period in which our Q3 royalty was payable. Prices have continued to increase since and are now at ~$390/t which suggests that the fourth quarter could provide a very strong finish to the year for the Group.

Elsewhere, we were pleased with the performance from Voisey's Bay, which has also benefitted from a higher cobalt price environment than what we anticipated for H2 21 at the time of the acquisition. Overall cobalt prices have increased by 13% since we acquired the stream.

The portfolio contribution from the third quarter has enabled the Group to meaningfully de-lever during the fourth quarter, with our leverage ratio now under 2x. The Group has ~$36m available under its existing credit facility and ~$9m of shares held in treasury, along with our remaining stake in LIORC valued at ~$30m providing ~$75m in financing flexibility, not including the ~$13m to be received in instalments over the next 18 months following the sale of the Narrabri royalty.

Following the recent announcement of the sale of our thermal coal royalty, we continue to pursue our strategy of increasing our exposure to commodities that support a more sustainable world and expect the contribution from coking coal related assets to reduce to ~8% of Group's total portfolio contribution by 2025. To this end we are actively evaluating opportunities and are confident in our pipeline and ability to further diversify the business. We remain positive going into Q4 with the strong commodity fundamentals seen recently, looking broadly sustainable as well as strong volume performance expected from the portfolio."

For further information:

Anglo Pacific Group PLC

+44 (0) 20 3435 7400

Julian Treger – Chief Executive Officer
Kevin Flynn – Chief Financial Officer
Marc Bishop Lafleche – Chief Investment Officer

Website:

www.anglopacificgroup.com

Berenberg

+44 (0) 20 3207 7800

Matthew Armitt / Jennifer Wyllie / Varun Talwar / Detlir Elezi

Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister / Alexander Allen / David McKeown

RBC Capital Markets
Farid Dadashev / Marcus Jackson / Jamil Miah

+44 (0) 20 7653 4000

Camarco

+44 (0) 20 3757 4997

Gordon Poole / Owen Roberts / Charlotte Hollinshead

Notes to Editors
About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

Cautionary statement on forward-looking statements and related information
Certain statements in this announcement, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Group's expectations and views of future events. Forward-looking statements (which include the phrase 'forward-looking information' within the meaning of Canadian securities legislation) are provided for the purposes of assisting readers in understanding the Group's financial position and results of operations as at and for the periods ended on certain dates, and of presenting information about management's current expectations and plans relating to the future. Readers are cautioned that such forward-looking statements may not be appropriate other than for purposes outlined in this announcement. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, cash flow, requirement for and terms of additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of the Group including the outlook for the markets and economies in which the Group operates, costs and timing of acquiring new royalties and making new investments, mineral reserve and resources estimates, estimates of future production, production costs and revenue, future demand for and prices of precious and base metals and other commodities, for the current fiscal year and subsequent periods.

Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. Forward-looking statements are based upon certain material factors that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by the Group in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. The material factors and assumptions upon which such forward-looking statements are based include: the stability of the global economy; the stability of local governments and legislative background; the relative stability of interest rates; the equity and debt markets continuing to provide access to capital; the continuing of ongoing operations of the properties underlying the Group's portfolio of royalties, streams and investments by the owners or operators of such properties in a manner consistent with past practice; no material adverse impact on the underlying operations of the Group's portfolio of royalties, steams and investments from a global pandemic; the accuracy of public statements and disclosures (including feasibility studies, estimates of reserve, resource, production, grades, mine life and cash cost) made by the owners or operators of such underlying properties; the accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties, streams and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any significant property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which could cause actual results to differ materially from those anticipated, estimated or intended in the forward-looking statements. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. No statement in this communication is intended to be, nor should it be construed as, a profit forecast or a profit estimate.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate; that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved.

A variety of material factors, many of which are beyond the Group's control, affect the operations, performance and results of the Group, its businesses and investments, and could cause actual results to differ materially from those suggested by any forward-looking information. Such risks and uncertainties include, but are not limited to current global financial conditions, royalty, stream and investment portfolio and associated risk, adverse development risk, financial viability and operational effectiveness of owners and operators of the relevant properties underlying the Group's portfolio of royalties, streams and investments; royalties, steams and investments subject to other rights, and contractual terms not being honoured, together with those risks identified in the 'Principal Risks and Uncertainties' section of our most recent Annual Report, which is available on our website. If any such risks actually occur, they could materially adversely affect the Group's business, financial condition or results of operations. Readers are cautioned that the list of factors noted in the section herein entitled 'Risk' is not exhaustive of the factors that may affect the Group's forward-looking statements. Readers are also cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements.

This announcement also contains forward-looking information contained and derived from publicly available information regarding properties and mining operations owned by third parties. This announcement contains information and statements relating to the Kestrel mine that are based on certain estimates and forecasts that have been provided to the Group by Kestrel Coal Pty Ltd ("KCPL"), the accuracy of which KCPL does not warrant and on which readers may not rely.

The Group's management relies upon this forward-looking information in its estimates, projections, plans and analysis. Although the forward-looking statements contained in this announcement are based upon what the Group believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements made in this announcement relate only to events or information as of the date on which the statements are made and, except as specifically required by applicable laws, listing rules and other regulations, the Group undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:
https://www.accesswire.com/669429/Anglo-Pacific-Group-PLC-Announces-Q3-2021-Trading-Update

The stock is benefiting from the rising price of uranium, which inched closer to its multiyear high.

The market expects Energy Fuels (UUUU) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus Estimate

This uranium and vanadium miner and developer is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +62.5%.

Revenues are expected to be $10.53 million, up 2049% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

Earnings Whisper

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

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

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

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

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

How Have the Numbers Shaped Up for Energy Fuels?

For Energy Fuels, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Energy Fuels will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

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

For the last reported quarter, it was expected that Energy Fuels would post a loss of $0.04 per share when it actually produced a loss of $0.07, delivering a surprise of -75%.

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

Bottom Line

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

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

Energy Fuels doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.

Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.

MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).

In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.

It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The Mosaic Company (MOS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Not for distribution to United States Newswire Services or for dissemination in the United States

TORONTO, Oct. 21, 2021 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“CUR”, the “Company” or “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to announce that further to its press release on October 18, 2021 regarding the creation and planned spin-out (the “Spin-Out”) of Labrador Uranium Inc. (“Labrador Uranium” or “LUR”), LUR has entered into an agreement Red Cloud Securities Inc. to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”) in connection with a fully marketed private placement (the “LUR Offering”) of up to 10,000,000 subscription receipts of LUR (each, a “Subscription Receipt”) at a price of C$0.70 per Subscription Receipt (the “Offering Price”) for gross proceeds of up to C$7,000,000. The Agent will have an option, exercisable in full or in part up to 48 hours prior to the closing of the LUR Offering, to sell up to an additional 1,428,571 Subscription Receipts at the Offering Price for additional gross proceeds of up to C$1,000,000.

Philip Williams, President and CEO of Consolidated Uranium, commented “We could not be more thrilled with the enthusiastic response that we have received so quickly for Labrador Uranium. The financing announced today has seen higher demand than anticipated and is expected to be largely subscribed for by existing Consolidated Uranium institutional shareholders. I would highlight that all existing shareholders of CUR, on the effective date of the arrangement, will receive LUR shares though the pro-rata distribution of the 16 million LUR shares that CUR will be receiving for the transfer of its Moran Lake Project.”

Each Subscription Receipt entitles the holder thereof to automatically receive, upon satisfaction of certain escrow release conditions (the “Escrow Release Conditions”), one unit of LUR (a “Unit”). Each Unit shall be comprised of one class B common share of LUR (each, a “Unit Share”) and one-half of one common share purchase warrant of LUR (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one class B common share of LUR (each, a “Warrant Share”) at a price of C$1.05 for a period of 24 months following the Escrow Release Date (as defined herein). The Escrow Release Conditions includes the satisfaction of all conditions precedent to the completion of the Spin-Out as well as receipt of conditional approval for the listing of LUR’s class B common shares on the Canadian Securities Exchange (the “Listing”).

The proceeds of the LUR Offering, net of 50% of the fee payable to the Agents and the reasonable out-of-pocket expenses of the Agents, will be held in escrow and not released to LUR unless the Escrow Release Conditions are satisfied by the deadline provided in the terms of the subscription receipt agreement that will govern the Subscription Receipts (the date of satisfaction of the Escrow Release Conditions being, the “Escrow Release Date”). Following the satisfaction of the Escrow Release Conditions, the net proceeds of the LUR Offering are expected to be used to fund the proposed exploration programs for the Moran Lake Project, the Central Mineral Belt Project and the Notakwanon Project as well as for working capital and general corporate purposes. The LUR Offering is scheduled to close on or around November 11, 2021.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Consolidated Uranium Inc.

Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, the company has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina and the United States each with significant past expenditures and attractive characteristics for development. Most recently, the Company entered a transformational strategic acquisition agreement and alliance with Energy Fuels Inc (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, to acquire a portfolio of permitted, past-producing conventional uranium and vanadium mines in the Utah and Colorado. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning CUR as a near-term uranium producer.

Philip Williams
President and CEO
Consolidated Uranium Inc.
pwilliams@consolidateduranium.com

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the completion of the Arrangement and the Listing; the anticipated use of proceeds from the LUR Offering; and other activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement and the Listing; that general business and economic conditions will not change in a material adverse manner, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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

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

VANCOUVER, BC, Oct. 21, 2021 /PRNewswire/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") reports today that the 3,500 metre reverse circulation ("RC") resource advancement drilling program at its Ivana deposit (September 28, 2021 News Release) is now underway with 50 holes totaling 293 metres completed to date. Additionally, permits have been received to complete the initial drilling program at the Ivana Central target, which is the second tranche of a separate exploration drilling program at the Company's wholly-owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina ("AGP") as announced on February 17, 2021. Further, interpreted analytical results for the first tranche of the wide-spaced shallow exploratory drilling program are reported. The aim of this initial drilling program is to further assess the potential of the Ivana North and Central target areas and to provide vectors to focus subsequent drilling programs.

"We are pleased that this latest program has given us valuable information at Ivana North to help us target follow-up drilling in the area. The elements identified by these initial drill holes are very similar to the geochemical pathfinder footprint at the Ivana deposit. The preliminary results from Ivana Central are also very encouraging, and we look forward to continuing the systematic exploration work which is progressing on a similar path to that which led to the discovery of the Ivana deposit ten kilometres to the south," stated Nikolaos Cacos, Blue Sky President & CEO. "These results re-affirm the potential of Amarillo Grande to become a multi-deposit uranium district."

The location of all 46 holes (1,870 metres) completed to date at Ivana North and Central are shown on Figure 1, as well as the distribution of planned holes yet to be completed at Ivana Central. Table 1 includes summary results highlights for all 40 holes drilled over a 20 square kilometre area at Ivana North, as well as from the initial 6 holes drilled at Ivana Central.

At Ivana North, anomalous low-grade (less than 100ppm) uranium intercepts were returned in thirty percent of the holes completed, often accompanied by anomalous pathfinder elements including molybdenum and selenium (see Figure 2a-c). Based on the similarities to the geochemical pathfinder footprint at the Ivana deposit, the Ivana North results are interpreted to confirm the potential for discovery of a REDOX front related uranium mineralized system in the Ivana North area. The Ivana North results have provided additional information for follow-up drill targeting, which will be further evaluated and prioritized once the first phase of Ivana Central drilling is completed.

Of the first six holes (286 metres) drilled at Ivana Central, two intersected anomalous uranium, including 120 ppm U3O8 over 1 metre at in hole AGIC-01. Approximately 1,200 metres of the initial planned program remains to be drilled at Ivana Central.

Drilling Program Details

The Ivana Central and Ivana North targets, located at 10 and 20 kilometres north of the Ivana deposit, respectively, are interpreted as being located along the same regional REDOX front as the Ivana deposit. Each target covers a large area of approximately 4 by 7 kilometres. The goal of this drilling program is to complete wide-spaced fences of drill holes over the target areas to provide below-surface information to assist in vectoring towards uranium mineralization "trapped" along potential REDOX fronts. Comparable REDOX fronts in other jurisdictions commonly host multiple uranium deposits, either laterally along the front or as a series of stacked REDOX fronts separated laterally and/or in depth.

The Company's strategy has been to deploy an initial ~1,500 metres of drilling at each of the Ivana North and Ivana Central targets, followed by ~1,500 metres of follow-up detailed drilling to better define areas with the best results at both targets. The next stage of the exploration program will focus on completing the initial drilling planned at Ivana Central.

The analytical results reported herein include 281 samples from Ivana Central and 665 samples from Ivana North. Ivana Central holes were sampled from top to bottom using a one metre sample interval; selected one-metre intervals were sampled from the holes drilled at Ivana North. The Ivana North samples were selected on site by the geologist in charge based on one or more parameters, including: radiometric anomaly detection by down-hole probe; the presence of uranium or pathfinder elements indicated by handheld XRF; observation of alteration signatures and/or visible carnotite.

The Ivana North drilling program tested an area covering 4 kilometres by 5 kilometres on roughly 400 to 800 metre centres (see Methodology section below for details). All holes were surveyed with a calibrated radiometric probe.

Review of the analytical results to date indicate the presence of uranium, vanadium and pathfinder element anomalies consistent with sandstone type uranium deposits as seen at the Ivana deposit. Anomalous uranium results range from 1.1 to 70.9 ppm U3O8 at Ivana North; anomalous vanadium results range from 17.9 to 1510.1 ppm V2O5. As shown in Table 1, approximately 30 percent of the holes at Ivana North returned anomalous intervals of uranium at depths ranging from 2 to 50 metres below surface, with 4 drill holes (AGIN-04, -22, -24, and AGIN-30) intersecting 2 or more stacked anomalous intervals. Intervals with anomalous uranium range from 1 to 9 metres in thickness and display variable uranium/vanadium ratios, as observed for the Ivana deposit. This is interpreted to be a result of remobilization of primary mineralization with low vanadium into the near surface environment, where uranium precipitates as carnotite, a uranium vanadate mineral. This interpretation is supported by the results of the downhole radiometric probe survey. Radiometric response from the probe did not show direct correlation in all cases with analytical uranium content, a phenomena known as "disequilibrium". Disequilibrium is known to occur where uranium has been remobilized geologically recently and, for example, precipitated as carnotite resulting in a weak, or no, radiometric response. It had previously been detected at Amarillo Grande in surface sampling work.

Geostatistical analysis has been carried out on the geochemical exploration data from Ivana North. Elements which show positive correlation with anomalous uranium values include cobalt, copper, lanthanum, molybdenum, rhenium, selenium, and yttrium. Molybdenum and selenium display the best positive correlation with higher uranium values, a relationship also observed at the Ivana deposit (see Figure 2a-c). The presence of lanthanum and yttrium is currently interpreted to be related to a process prior to mineralization where acidic water generated secondary porosity and prepared the host rock for the entrance of the uranium-rich underground waters from the regional mineralizing system. Overall, initial geochemical patterns of uranium and pathfinder element anomalies suggest potential vectors to prospective areas, as shown on Figure 2, often peripheral to the initial drill grids, that will require follow-up drill testing as the program progresses.

At Ivana Central only 6 of the planned holes have been completed, with two returning anomalous intervals as shown in Table 1. Individual results range from 0.6 to 119.8 ppm U3O8 and 12.5 to 299.9 ppm V2O5. As a majority of the planned drilling at Ivana Central remains to be finished, interpretation and geostatistical analysis of the results is incomplete and will be reported when additional assays are received.

Methodology and QA/QC

The 2021 drilling program was executed by AVG Falcon Drilling using a ProminasTM R3H drill rig, a multipurpose direct circulation hydraulic drilling rig on tracks. This drill was deployed to address recovery issues with the previously used reverse circulation drill rig; it produces wet chip samples which were collected from sampling buckets every metre. Every hole was surveyed with a calibrated radiometric Mount SoprysTM probe. An additional geoelectrical SP-SPR survey was run on 32 holes in order to approximate the location of geological contacts between sedimentary units.

Samples were sent to Bureau Veritas Minerals Argentina for preparation by drying, crushing to 80% passing 10 mesh and then pulverizing a 250g split to 95% passing 150 mesh. Pulps were then sent to Bureau Veritas Commodities Canada Ltd. for analysis of 45 elements by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) following a four-acid digestion (MA-200). Samples over 4,000 ppm uranium are re-assayed after phosphoric acid leach by Inductively Coupled Plasma Electron Spectrometry (ICP-ES). Approximately every 10th sample a blank, duplicate, or standard sample is inserted into the sample sequence for quality assurance/quality control (QA/QC) purposes. The QAQC internal assessment indicate that assays results are within standard industry limits.

Qualified Persons

The design of the Company's exploration program was undertaken by the Company's geological staff under the supervision of David Terry, Ph.D., P.Geo. Dr. Terry is a Director of the Company and a Qualified Person as defined in National Instrument 43-101. The contents of this news release have been reviewed and approved by Dr. Terry.

About the Amarillo Grande Project

The Company's 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina is a new uranium district controlled by Blue Sky. The Ivana deposit is the cornerstone of the Project and the first part of the district for which both a Mineral Resource Estimate and a Preliminary Economic Assessment have been completed. Mineralization at the Ivana deposit has characteristics of sandstone-type and surficial-type uranium-vanadium deposits. The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a district-size system. In the surficial-type deposits, mineralization coats loosely consolidated pebbles, and is amenable to leaching and simple upgrading.

The Project includes several other target areas over a regional trend, at or near surface. The area is flat-lying, semi-arid and accessible year-round, with nearby rail, power and port access. The Company's strategy includes delineating resources at multiple areas and advancing the entire project to prefeasibility level.

For additional details on the project and properties, please see the Company's website.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to of properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
______________________________________
Nikolaos Cacos, President, CEO and Director

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

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

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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SOURCE Blue Sky Uranium Corp.

Just because a business does not make any money, does not mean that the stock will go down. By way of example, Bannerman Energy (ASX:BMN) has seen its share price rise 914% over the last year, delighting many shareholders. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

In light of its strong share price run, we think now is a good time to investigate how risky Bannerman Energy's cash burn is. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

Check out our latest analysis for Bannerman Energy

How Long Is Bannerman Energy's Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at June 2021, Bannerman Energy had cash of AU$12m and no debt. Looking at the last year, the company burnt through AU$2.9m. Therefore, from June 2021 it had 4.3 years of cash runway. There's no doubt that this is a reassuringly long runway. Depicted below, you can see how its cash holdings have changed over time.

debt-equity-history-analysisdebt-equity-history-analysis
debt-equity-history-analysis

How Is Bannerman Energy's Cash Burn Changing Over Time?

Because Bannerman Energy 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 38% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.

How Easily Can Bannerman Energy Raise Cash?

Given its cash burn trajectory, Bannerman Energy shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of AU$428m, Bannerman Energy's AU$2.9m in cash burn equates to about 0.7% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

How Risky Is Bannerman Energy's Cash Burn Situation?

As you can probably tell by now, we're not too worried about Bannerman Energy's cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. On another note, Bannerman Energy has 6 warning signs (and 2 which shouldn't be ignored) we think you should know about.

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

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Vancouver, British Columbia–(Newsfile Corp. – October 21, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the appointment of David Quirt as a technical advisor to the Company specializing in uranium exploration.

Mr. Quirt is a consulting geoscientist residing in Saskatchewan with 45 years of geological, mineral exploration, and Research and Development ("R&D") experience, both in the consulting sector and within the mineral exploration industry. His applied science work has been primarily in economic geology (uranium, diamonds, gold, base metals, Rare Earth Elements), uranium deposit metallogenesis, geochemistry, and host-rock alteration mineralogy. Throughout his career, David has been a highly-sought speaker at numerous scientific conferences and corporate presentations, and has authored and co-authored technical reports, journal papers and conference-extended abstracts that have resulted from these works.

Mr. Quirt received his B.A.Sc. degree in Geological Engineering (Mineral Exploration) from the University of Toronto in 1976, received his M.A.Sc. from the University of Windsor in 1978 and later undertook Ph.D. studies at Carleton University. After several years working as a field geologist, David joined the world-renowned Saskatchewan Research Council in 1981 where he was appointed Senior Research Scientist from 1991 to 2006. From 2006 to 2018, David was employed by AREVA Resources Canada Inc. in Saskatoon, SK ("AREVA", now Orano Canada) as Senior Geoscientist and was responsible for providing geoscience direction to its mineral exploration activities and in training AREVA's exploration staff throughout Canada. Until his retirement from AREVA in 2018, Mr. Quirt was involved with many of its exploration R&D technical and scientific activities, as well as R&D activities within their Projects and Operations division and at AREVA's head office in France.

Currently, David acts as Adjunct Professor at the University of Manitoba, Winnipeg, Dept. of Earth Sciences, where he advises and supervises M.Sc. students on thesis work, and on their Ph.D advisory committee for thesis advice. David remains involved in the preparation and submission of papers to peer-reviewed journals, and volunteers as a Director with the Mineral Deposits Division of the Geological Association of Canada.

ALX welcomes Mr. Quirt's contribution to upcoming exploration at the Company's uranium projects in the Athabasca Basin area of northern Saskatchewan, Canada.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the Company's exploration projects are prospective for uranium and other minerals. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at its exploration projects, including drilling; initial findings at its projects may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at its projects; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our mineral exploration projects, and even if uranium or other metals or minerals are discovered in quantity, the projects may not prove to be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

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/100471

Denison Mines Logo (CNW Group/Denison Mines Corp.)
Denison Mines Logo (CNW Group/Denison Mines Corp.)

TORONTO, Oct. 21, 2021 /CNW/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce it has entered into a private agreement to sell (the "Transaction") 32,500,000 common shares ("GoviEx Shares") of GoviEx Uranium Inc. ("GoviEx"), currently held by Denison for investment purposes, and 32,500,000 common share purchase warrants entitling the holder to acquire one (1) additional common share of GoviEx owned by Denison at an exercise price of $0.80 for a term of 18 months ("GoviEx Warrants"). On closing of the Transaction, Denison will receive gross proceeds of $15,600,000 and will continue to hold 32,644,000 common shares of GoviEx. If the GoviEx Warrants are exercised in full, Denison will receive further gross proceeds of $26,000,000 and will transfer a further 32,500,000 common shares of GoviEx to the warrant holder. View PDF Version

The agreement is with an existing institutional shareholder of GoviEx. The Transaction is subject to customary closing conditions and is expected to be completed before the end of October, 2021. The GoviEx Warrants, or common shares of GoviEx received on the exercise of the GoviEx Warrants, will be subject to a hold period of four months and one day from the closing date, in accordance with applicable
securities laws.

Denison intends to use the net proceeds of the Transaction for general corporate purposes.

This press release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated September 28, 2021 to its short form base shelf prospectus dated September 16, 2021.

Early Warning Disclosure

Upon closing of the Transaction, Denison will dispose of 32,500,000 GoviEx Shares at an attributed value of $0.48 per GoviEx Share (attributing the full gross proceeds of the Transaction to the GoviEx Shares with the GoviEx Warrants having an attributable value of $0.00), for aggregate gross proceeds to Denison of $15.6 million. The sale of the GoviEx Shares and GoviEx Warrants has been made through a private sale agreement.

Denison currently holds 65,144,021 GoviEx Shares (12.07% of the issued and outstanding GoviEx Shares, on a non-diluted basis based on GoviEx's current disclosure record). The disposition will result in an approximate 50% decrease in Denison's shareholdings in GoviEx. Upon completion of the Transaction, Denison will hold 32,644,021 GoviEx Shares, representing approximately 6.05% of the issued and outstanding GoviEx Shares. In the event that all of the GoviEx Warrants are exercised, Denison will dispose of an additional 32,500,000 GoviEx Shares at a value of $0.80 per GoviEx Share (being the exercise price of the Warrants), for additional gross proceeds to Denison of $26.0 million. This further disposition would result in a 99% decrease in Denison's then shareholdings in GoviEx, and Denison would then hold 144,021 GoviEx Shares, representing approximately 0.03% of the issued and outstanding GoviEx Shares, on a non-diluted basis.

The disposition of GoviEx Shares was made for investment purposes. While Denison currently has no other plans or intentions with respect to the GoviEx securities, depending on market conditions, general economic and industry conditions, trading prices of GoviEx's securities, GoviEx's business, financial condition and prospects and/or other relevant factors, Denison may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of GoviEx.

Denison will file an early warning report under National Instrument 62-103 in connection with the closing of the Transaction. A copy of the early warning report filed by Denison will be available under GoviEx's profile on SEDAR at www.sedar.com and a copy can be obtained by contacting Denison (see below for details). GoviEx's head office is located at 999 Canada Place, Suite 606 Vancouver, British Columbia V6C 3E1. As Denison will decrease its security holdings in GoviEx below 10%, following the above-noted early warning report filing, it will no longer be required to report under the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids, unless its security holdings in GoviEx increase to 10% or more in the future.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its effective 95% interest in the Wheeler River project, Denison's interests in the Athabasca Basin include a 22.5% ownership interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are each located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU (Canada) Exploration Company Limited, Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%). Denison's exploration portfolio includes further interests in properties covering ~280,000 hectares in the Athabasca Basin region.

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter: @DenisonMinesCo

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the proposed Transaction, including the ability of Denison to complete the Transaction and the timing and intended use of proceeds thereof; the terms and impacts of exercise of the GoviEx Warrants; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners and third parties.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 or subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

DENISON ANNOUNCES SALE OF GOVIEX SHARES AND WARRANTS FOR UP TO $41.6 MILLION (CNW Group/Denison Mines Corp.)DENISON ANNOUNCES SALE OF GOVIEX SHARES AND WARRANTS FOR UP TO $41.6 MILLION (CNW Group/Denison Mines Corp.)
DENISON ANNOUNCES SALE OF GOVIEX SHARES AND WARRANTS FOR UP TO $41.6 MILLION (CNW Group/Denison Mines Corp.)
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SOURCE Denison Mines Corp.

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CORPUS CHRISTI, TX / ACCESSWIRE / October 21, 2021 / enCore Energy Corp. ("enCore") (TSXV:EU)(OTCQB:ENCUF) and Azarga Uranium Corp. ("Azarga") (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) are pleased to provide a corporate update including information concerning the definitive agreement (the "Agreement") whereby enCore will acquire all of the issued and outstanding common shares of Azarga pursuant to a court-approved plan of arrangement (the "Transaction"). An Azarga information circular will be mailed on or before October 26, 2021 to Azarga shareholders of record as of October 12, 2021. The shareholder vote will be held on November 16, 2021 at 10:00 AM (Vancouver time) at the offices of Azarga at Unit 1 – 15782 Marine Drive, White Rock, BC, V4B 1E6.

Terms of the Agreement

Under the terms of the Agreement, Azarga shareholders will receive 0.375 common shares of enCore for each Azarga common share held (the "Exchange Ratio") subject to adjustment as described in the information circular. The Exchange Ratio implied consideration of $0.71 per Azarga common share based on the closing price of the enCore common shares on the TSX Venture Exchange on September 3, 2021. Additional details may be found in the Azarga information circular.

Transaction Highlights

  • Creation of a top-tier American uranium in-situ recovery ("ISR") mining company with multiple assets at various stages of development;

  • Two licensed ISR production facilities and multiple potential satellite exploration and development projects in South Texas;

  • Advanced stage Dewey Burdock development project in South Dakota with key federal permits issued;

  • Recently published preliminary economic assessment for the Gas Hills project in Wyoming;

  • Large uranium resource endowment in New Mexico including the Marquez-Juan Tafoya project, for which a recent preliminary economic assessment was published and the Crownpoint and Hosta Butte project;

  • Well positioned to benefit from America's nuclear renaissance, which boasts bi-partisan political support; and

  • Management team and board with unrivaled experience in the permitting, development, and mining of ISR uranium deposits in the USA.

Transaction Details

The proposed Transaction will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia). The Transaction will require approval by at least 66 2/3% of the votes cast by Azarga shareholders and, if required by Multilateral Instrument 61-101, a simple majority of the votes cast by Azarga shareholders excluding certain interested or related parties, in each case by shareholders present in person or represented by proxy at a special meeting of the shareholders of Azarga to be called in connection with the Transaction.

Closing of the Transaction is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature, including, without limitation, court and stock exchange approval.

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

enCore also wished to recognize and thank Andrew Weekly of the SmithWeekly Group and Edward Sendrea of Gravedigger Capital Ltd. for providing the company with industry evaluation and consultation with regards to the company's merger & acquisitions goals.

About enCore Energy Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery ("ISR") uranium producer. The company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy's opportunities are created from the company's transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

About Azarga Uranium Corp.

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

Contact Information

enCore Energy Corp.
William M. Sheriff
Executive Chairman
972-333-2214
info@encoreenergycorp.co
www.encoreenergycorp.com

Azarga Uranium Corp.
Blake Steele
President & CEO
605-662-8308
info@azargauranium.com
www.azargauranium.com

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "indicate", "scheduled", "target", "goal", "potential", "subject", "efforts", "option" and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements in this press release include, but are not limited to, statements related to the anticipated completion of the Transaction, the terms of the Transaction, the benefits of the Transaction, the combined company, the directors and officers of the combined company, the merits of the properties of enCore and Azarga, the potential share consolidation and listing of the shares of the combined company on a U.S. stock exchange and all statements related to the business plans, expectations and objectives of enCore and Azarga.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of enCore and/or Azarga to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; receipt of necessary stock exchange, court and shareholder approvals; the ability of enCore and Azarga to achieve their stated goals and objectives; the costs associated with the companies' objectives; risks and uncertainties related to the COVID-19 pandemic and measures taken to attempt to reduce the spread of COVID-19; and the risks and uncertainties identified in enCore's Management's Discussion and Analysis for the six months ended June 30, 2021 and Azarga's Annual Information Form for the year ended December 31, 2020, each filed on SEDAR at www.sedar.com. Although management of each of enCore and Azarga 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. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of the enCore common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") and the enCore common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the enCore common shares, nor shall there be any offer or sale of the enCore common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

SOURCE: Azarga Uranium Corp.

View source version on accesswire.com:
https://www.accesswire.com/669037/Encore-Energy-and-Azarga-Uranium-Provide-Update-on-Proposed-Transaction-and-Shareholder-Vote

Vancouver, British Columbia–(Newsfile Corp. – October 21, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (the "Company" or "GoviEx"), today announced that Denison Mines Corp ("Denison") has entered into a private agreement to sell 32,500,000 common shares of the 65,144,021 common shares it holds in GoviEx at an attributed value of CAD 0.48 and warrants to acquire an additional 32,500,000 common shares of Goviex held by Denison at an exercise price of CAD 0.80 per share for a term of 18 months. The purchaser of the single block is already a large existing institutional shareholder of GoviEx. Following this single transaction, Denison will own approximately 6% of GoviEx's current issued share capital.

David Cates, the CEO of Denison, will remain on the Board of GoviEx following the completion of this transaction.

Govind Friedland, GoviEx's Executive Chairman, said:

"This transaction announced today between two existing GoviEx shareholders demonstrates strong institutional demand and continued interest in the uranium sector and in GoviEx's equity. The second part of the transaction entitles the purchasing party to warrants exercisable at CAD 0.80, which is a positive sign of confidence in our management team and in the strength of our pipeline of uranium assets."

Denison's shareholding in GoviEx originated as part of a strategic transaction in 2016, in which GoviEx acquired Denison's wholly owned subsidiary, Rockgate Capital Corp., which held all of Denison's Africa-based uranium interests in exchange for 56,050,450 shares of GoviEx and 22,420,180 common share purchase warrants.

About GoviEx Uranium Inc.
GoviEx (TSXV: GXU) (OTCQB: GVXXF), is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Contact Information

Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Note to United States Persons: The disclosure contained herein does not constitute an offer to sell or the solicitation of an offer to buy securities of GoviEx Uranium Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100477

SASKATOON, Saskatchewan, Oct. 21, 2021 (GLOBE NEWSWIRE) — Cameco (TSX: CCO; NYSE: CCJ) today released its 2020 ESG (environmental, social and governance) Report. The report illustrates how Cameco integrates ESG principles and practices throughout the company and in its strategy, and includes feature stories and metrics for its 2020 ESG performance.

With this report, Cameco has adopted the relevant ESG performance indicators issued by the Sustainability Accounting Standards Board (SASB) and has taken the first steps toward addressing the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), which we expect to continue to progress. The report can be downloaded or read online at www.cameco.com/esg.

“This is the 16th annual report on our sustainability performance, in a year that was truly like no other due to the COVID-19 pandemic,” said Cameco president and CEO Tim Gitzel. “Despite the challenges the world experienced in 2020, Cameco was resilient. We kept our focus on ensuring the safety of our workers, protecting the environment and supporting our partner communities. In fact, we received positive recognition for our performance on a number of ESG fronts last year, demonstrating the success of our programs and practices and the value we are creating.”

The 2020 ESG Report includes several notable highlights for Cameco:

  • In 2020, we achieved our best-ever safety performance (as measured by Total Recordable Injury Rate) and experienced the first calendar year in our history without a lost-time injury.

  • Cameco remained one of Canada’s largest employers of Indigenous people and a leading supporter of Indigenous business, purchasing 81% of the services used at our operations in northern Saskatchewan from local companies and suppliers.

  • We were recertified as Gold-level under the Progressive Aboriginal Relations program of the Canadian Council for Aboriginal Business in 2020, making it our 20th consecutive year at this placement.

  • We received one of the Mining Association of Canada’s Towards Sustainable Mining Excellence Awards, in recognition of our Community Based Environmental Monitoring Program and its innovative focus on bridging scientific and traditional Indigenous knowledge.

  • Cameco ranked in the top 15% in the Globe and Mail’s Board Games 2020 evaluation of 211 TSX-listed corporations and was the only company to receive all seven points awarded for gender and other forms of diversity. Roughly 33% of Cameco’s board members are women (3 out of 9) and 11% are Indigenous (1 out of 9).

  • Cameco did not lay off any of our employees as a result of the pandemic, even though we suspended production at some of our operations as a precaution to protect our workers, their families and communities from the risk posed by COVID-19.

  • We delivered a $1.25 million Cameco COVID-19 Relief Fund to help local charitable and community groups doing vital work to support vulnerable people struggling through the pandemic.

“Cameco’s stakeholders expect us to be good corporate citizens and to manage the company in a long-term sustainable fashion, whether it’s our partner communities, workers, investors, customers, governments or others,” Gitzel said. “We view it as our responsibility to be accountable and transparent. The ESG Report enables them to see our commitments in action and gauge our performance for themselves.”

The ESG Report outlines how Cameco’s leadership sees the company contributing to global efforts to decarbonize. “As the world transitions to a low-carbon economy and the demand for clean, baseload electricity increases, we believe nuclear energy must play a significant role,” Gitzel said. “Cameco will be a constructive partner in the battle against climate change. Not only do we enable the vast emissions reductions that can be achieved through nuclear power, but we are also committed to transforming our own low GHG footprint in our ambition to reach net-zero emissions and achieve our vision of energizing a clean-air world.”

In addition to our efforts to reduce Cameco’s small GHG footprint, our key ESG goals are focused on the following eight areas:

Environment

  • Tailings management

  • Water

Social

  • Indigenous and community relations

  • Inclusion and diversity

  • Workplace safety

Governance

  • Board diversity

  • Conduct and ethics

  • Cybersecurity

Cameco’s board of directors and executive team oversee the company’s ESG strategy, execution and reporting. Today’s release marks an evolution in Cameco’s ESG approach. In addition to SASB and TCFD, the report provides key ESG performance indicator data based on the Global Reporting Initiative’s Sustainability Framework, as well as some unique corporate indicators to measure and report our performance in several environmental, social and governance areas we believe have a significant bearing on Cameco’s sustainability over the long term.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our views on the transition to a low-carbon economy, the demand for clean electricity, and the role of nuclear energy; our expectations regarding Cameco’s role in combatting climate change; our target of reducing Cameco’s GHG footprint and ambition of reaching net-zero emissions; our key ESG goals; and our expectation that we will continue to progress in addressing TCFD recommendations. This forward-looking information is based on a number of assumptions, including assumptions regarding: carbon emission reduction, the demand for clean energy and the contribution that could be made by nuclear energy to reduce climate change; our assumption that our GHG footprint reduction target can be achieved; and our ability to advance our ESG goals and address TCFD recommendations. This information is subject to a number of risks, including: the risk that carbon reduction goals may not be achieved within the expected timeframe, if at all; the risk that the demand for clean electricity will not meet the level we expect, or that nuclear energy will not make the contribution to carbon reduction that we expect; the risk that we may not be successful in achieving our GHG footprint reduction and carbon emission goals; and the risk that we will face unexpected challenges or delays in advancing our ESG goals or addressing TCFD recommendations. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com

BETHESDA, Md., Oct. 20, 2021 /PRNewswire/ — Centrus Energy Corp. (NYSE American: LEU) ("Centrus" or the "Company") announced that the Company is commencing today a tender offer to purchase all of its outstanding Series B Senior Preferred Stock, par value $1.00 per share (the "Series B Preferred Shares"), at a price per Series B Preferred Share (inclusive of any rights to accrued but unpaid dividends) of $1,145.20, less any applicable withholding taxes. The aggregate liquidation preference per Series B Preferred Share (including accrued but unpaid dividends) was $1,347.29 as of September 30, 2021. The tender offer will expire at 5:00 p.m., Eastern Standard Time, on Thursday, November 18, 2021, unless the offer is extended. Tenders of Series B Preferred Shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration time, in each case, in accordance with the procedures described in the tender offer materials. The Company intends to pay for the shares repurchased in the tender offer with available cash.

Centrus Energy Corp., Bethesda, MD (PRNewsfoto/Centrus Energy Corp.)Centrus Energy Corp., Bethesda, MD (PRNewsfoto/Centrus Energy Corp.)
Centrus Energy Corp., Bethesda, MD (PRNewsfoto/Centrus Energy Corp.)

Stockholders whose Series B Preferred Shares are purchased in the tender offer will be paid $1,145.20 in cash, less any applicable withholding taxes, for each share (inclusive of any rights to accrued but unpaid dividends) after the expiration of the tender offer. As of September 30, 2021, there were 37,847 Series B Preferred Shares outstanding, with an aggregate liquidation preference of approximately $51.0 million or approximately $1,347.29 per share, consisting of (i) approximately $37.8 million original liquidation preference and (ii) approximately $13.2 million of cumulative accrued unpaid dividends.

Concurrently with the tender offer, the Company is also soliciting consents from holders of the Series B Preferred Shares to amend (the "Series B Preferred Amendment") the certificate of designation of the Series B Preferred Shares (the "Certificate of Designation") from and after the effective date of the Series B Preferred Amendment to: (i) cease any obligation to pay dividends on Series B Preferred Shares (other than the payment of accrued dividends in connection with a redemption or distribution of assets upon liquidation, dissolution or winding up), (ii) permit the Company to redeem Series B Preferred Shares during the 90 days following the date of effectiveness of the Series B Preferred Amendment at the same redemption price per share as the tender offer (plus provision for additional accrued dividends), (iii) remove the prohibition on the declaration and payment of dividends on junior stock of the Company, which includes all shares of the Company's capital stock defined as "Common Stock" in the Company's Amended and Restated Certificate of Incorporation, or the redemption, purchase or acquisition of such junior stock, and (iv) remove the restriction on redemption, purchase or acquisition of capital stock of the Company ranking on parity with the Series B Preferred Shares.

Pursuant to the terms of the Certificate of Designation, the consent of holders of at least 90% of the outstanding Series B Preferred Shares is required to approve the Series B Preferred Amendment. Therefore, one of the conditions to the adoption of the Series B Preferred Amendment is the receipt of the consent of holders of at least 90% of the outstanding Series B Preferred Shares. If the Series B Preferred Amendment is approved, the Company currently intends to redeem all Series B Preferred Shares that remain outstanding following the consummation of the tender offer at the reduced redemption price referred to in clause (ii) above.

D.F. King & Co., Inc. is serving as information agent for the tender offer and Computershare Trust Company, N.A. is serving as the depositary for the tender offer. Once commenced, please direct all questions relating to the tender offer to the information agent, D. F. King & Co., Inc. toll-free at (800) 967-5074; banks and brokers may call D.F. King at (212) 269-5550, or via e-mail at centrus@dfking.com.

The tender offer will not be contingent upon the receipt of financing or any minimum number of Series B Preferred Shares being tendered. However, the tender offer and consent solicitation are subject to a number of other terms and conditions, which will be described in detail in the offer to purchase for the tender offer and consent solicitation. Specific instructions and a complete explanation of the terms and conditions of the tender offer will be contained in the offer to purchase, the related letter of transmittal and other related materials, which will be mailed to stockholders of record promptly after commencement of the tender offer.

While the Centrus Board of Directors has authorized Centrus to make the tender offer and consent solicitation, neither Centrus, its board of directors, the depository, nor the information agent makes any recommendation as to whether to tender and consent to the Series B Preferred Amendment or refrain from tendering Series B Preferred Shares. Centrus has not authorized any person to make any such recommendation. Stockholders must make their own decision as to whether to tender some or all of their Series B Preferred Shares and consent to the Series B Preferred Amendment. In doing so, stockholders should consult their own financial and tax advisors and read carefully and evaluate the information in the tender offer and consent solicitation documents, when available.

Additional Information Regarding the Tender Offer

This communication is for informational purposes only. This communication is not a recommendation to buy or sell Centrus Series B Preferred Shares or any other securities, and it is neither an offer to purchase nor a solicitation of an offer to sell Centrus Series B Preferred Shares or any other securities. Centrus has filed a tender offer statement on Schedule TO, including an offer to purchase, letter of transmittal and related materials, with the United States Securities and Exchange Commission (the "SEC"). The tender offer and consent solicitation are only made pursuant to the offer to purchase, letter of transmittal and consent and related materials filed as a part of the Schedule TO. Stockholders should read carefully the offer to purchase, letter of transmittal and consent and related materials because they contain important information, including the various terms of, and conditions to, the tender offer and consent solicitation. Stockholders may obtain a free copy of the tender offer statement on Schedule TO, the offer to purchase, letter of transmittal and other documents that Centrus has filed with the SEC at the SEC's website at www.sec.gov or from the Centrus website at www.centrusenergy.com or from the information agent for the tender offer.

About Centrus

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. In this context, forward-looking statements mean statements related to future events, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "will," "should," "could," "would," or "may" and other words of similar meaning. These statements include statements regarding the terms and timing of completion of the tender offer and consent solicitation, including acceptance of purchase of the Series B Preferred Shares, the expected expiration time and the satisfaction or waiver of certain conditions to the tender offer and consent solicitation, and the Company's intention to redeem all Series B Preferred Shares that remain outstanding following consummation of the tender offer. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular risks and uncertainties that could cause results to differ from those expressed in these financial statements include conditions in financial markets, response by Series B Preferred holders to the tender offer and consent solicitation and other factors described in the Company's filings with the Securities and Exchange Commission. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this report and in our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this release, except as required by law.

Centrus Investor Contacts:

Investors: Dan Leistikow (301) 564-3399 or LeistikowD@centrusenergy.com
Media: Lindsey Geisler (301) 564-3392 or GeislerLR@centrusenergy.com

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SOURCE Centrus Energy Corp.

TORONTO, Oct. 20, 2021 /CNW/ – Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Thor Explorations Ltd. (TSXV: THX) ("Thor"), Jangada Mines plc (AIM: JAN) ("Jangada"), Kalamazoo Resources Limited (ASX: KZR) ("Kalamazoo"), Genesis Minerals Limited (ASX: GMD) ("Genesis"), and ValOre Metals Corp. (TSXV: VO) ("ValOre").

Vox Royalty Logo (CNW Group/Vox Royalty Corp.)Vox Royalty Logo (CNW Group/Vox Royalty Corp.)
Vox Royalty Logo (CNW Group/Vox Royalty Corp.)

Spencer Cole, Chief Investment Officer stated, "The past month has delivered a number of key developments at projects linked to Vox's royalty portfolio, including commercial production at Segilola, feasibility study progress at Pitombeiras, and further drilling success at Ashburton, Puzzle North and Pedra Branca. These operator developments are representative of Vox's innovative event-driven acquisition model, designed to selectively acquire royalties immediately prior to major project developments that have a material impact on value."

Key Development Updates

  • Commercial production milestone achieved at the Segilola Gold Mine by Thor;

  • Update on the near-term preparation of the Definitive Feasibility Study on the Pitombeiras vanadium project by Jangada;

  • High-grade drilling results at the Ashburton Gold Project by Kalamazoo;

  • Significant new wide, shallow drilling results from emerging Puzzle North discovery by Genesis; and

  • High-grade drilling results at the Pedra Branca platinum-group-elements ("PGE") project by ValOre.

Segilola (Producing) – Commercial Production Milestone Achieved

  • Vox holds a 1.5% net smelter return royalty over the Segilola gold mine, capped at US$3.5M;

  • On October 5, 2021, Thor announced that commercial production had been achieved at the Segilola Gold Mine, highlighting:

  • Vox Management Summary: Based on production guidance from Thor issued on March 29, 2021, which forecast production of 46,000 ounces of gold in 2021 and 109,000 ounces of gold in 2022, Vox management estimates that total pre-tax royalty revenues of US$3.5M will be receivable within the first two full years of production.

Pitombeiras (PEA Stage) – Feasibility Study Expected in Q4 2021

  • Vox holds a 1% net smelter return royalty over the Pitombeiras vanadium-iron ore project;

  • On September 30, 2021, Jangada announced the following:

  • Vox Management Summary: Pitombeiras has been fast-tracked from discovery to feasibility in less than 3 years, which typically takes 6 – 10 years for most mining projects. This rapid progress is a testament to Jangada Mines' management team and related stakeholders. Initial production and royalty revenue in 2022 looks increasingly likely given the current pace of development.

Ashburton (Exploration) – High Grade Drilling Results

  • Vox holds a 1.75% gross revenue gold royalty (>250koz cumulative production) on the Ashburton gold project;

  • On October 5, 2021, Kalamazoo announced:

  • Vox Management Summary: The drilling success that has extended the moderate to high-grade mineralisation zone in the northern section of the Ashburton project to 2.5km long indicates that Kalamazoo management's exploration target of 2Moz – 3Moz is potentially achievable. We look forward to further news flow on Kalamazoo's development studies which are progressing in parallel with exploration drilling.

Kookynie (Pre-Feasibility) – Puzzle North Discovery Drilling Results

  • Vox holds a A$1/t production royalty on part of the Kookynie gold project(1).

  • On October 14, 2021, Genesis announced:

  • Vox Management Summary: The high gold grades and broad intersections of this drilling suggests that the Puzzle North discovery has strong potential to host an economic orebody. Vox management believes that if Puzzle North is included in the broader Ulysses project feasibility study this potential orebody could be fast-tracked towards a construction decision within 12 months.

Pedra Branca (Preliminary Economic Assessment) – High Grade Drilling Results

  • Vox holds a 1% net smelter return royalty on the Pedra Branca PGE project;

  • On October 4, 2021, ValOre announced:

  • Vox Management Summary: These drilling results are some of the highest grade and broadest zones drilled to date at the Pedra Branca project. We look forward to the release of a resource update by ValOre in the coming months, particularly following recent exploration success at the Trapia 1 and Trapia 2 target areas, given their geological strike lengths have increased by factors of three and five respectively.

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting LLC and a "Qualified Person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox

Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.

Cautionary Note Regarding Forward Looking Information

This news release contains certain forward-looking statements. Any statements 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" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements".

The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of construction at and resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox's mining operator partners, the receipt of future royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox and requirements for regulatory approvals.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.

Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 release.

Technical and Third-Party Information

Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

References & Notes:

  1. Kookynie Royalty is split in two separate terms:

SOURCE Vox Royalty Corp.

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Highlights include: 36 m at 2.22 g/t 2PGE+Au from 43 m, including 9.12 m at 6.38 g/t 2PGE+Au

VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) — ValOre Metals Corp. (“ValOre”; TSXV: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on 2021 drilling from the Santo Amaro target at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“2021 drilling at Santo Amaro has greatly advanced the interpreted geological model for the resource-associated ultramafic package, allowing for more targeted resource expansion drilling and a higher level of confidence in future resource estimations,” stated ValOre’s VP of Exploration, Colin Smith. “Significant drilling results include the 110-metre ultramafic intercept in DD21SA42, a ~95 metre step-out hole drilled to the southeast of the current resource; multiple near surface intervals of mineralization within and along strike from the current resource; and mineralized intercepts better defining the NW mineralized zone, situated ~250 metres northwest of the current resource.”

Key Updates on 2021 Santo Amaro Core Drilling:

  • 19 holes drilled totaling 2,204 metres (“m”), with a primary focus of resource expansion;

  • All 19 completed holes intercepted the target UM intrusion, with assays received in full for 7 holes (12 holes pending), and the final drill hole currently in progress;

  • Near surface mineralization encountered in 7 of the 7 holes received to date, with a highlight of:

    • 36 m at 2.22 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 43 m, including 9.1 m at 6.38 g/t 2PGE+Au from 43 m in drill hole DD21SA30;

  • Assays pending for a 110-metre chromite-bearing ultramafic intercept in step-out hole DD21SA42;

  • Advancement of NW mineralized zone, situated ~250 metres northwest of the resource:

    • All 6 drill holes intercepted target ultramafic (“UM”) intrusion (assays pending);

  • Upon completion of the final hole, both drill rigs to be mobilized to the Santo Amaro South target, 1.5 kilometres (“km”) south, to drill 200 m in 4 holes, and thereafter to the Massapê target, 30 km southwest, to drill 1000 m in 10 holes.

*Reported core assay interval lengths are estimated to represent 90-100% true width

Santo Amaro Target and the 2019 Mineral Resource Domain

Santo Amaro is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces (“oz”) of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

The 2019 Santo Amaro mineral resource was defined by 5 pre-ValOre drill holes spaced 45-60 m apart, along a collective geological trend of 215 m, which together comprise an inferred resource of 203,000 oz at 1.19 g/t 2PGE+Au in 5.3 Mt. To improve geological constraint for the next resource re-estimation, 10 scissor holes were drilled in 2021 from 5 pads (2 holes per pad) to the north of the resource holes, with each pad having 1 vertical hole (-90° dip) and 1 angled hole to the south (-50° dip). Shallow, well-mineralized 2PGE+Au intercepts have been returned for all holes received to date (7 received, 12 pending), greatly improving drill-confirmed defined continuity of the resource area and exposing strong resource upside to the east and southeast of previous drilling. See Table 1 below for a summary of significant drill core assays from the 2021 scissor holes and CLICK HERE for a plan map of Santo Amaro drilling to date (Figure 1).

Resource Expansion Potential Along Strike

While PGE mineralization in the UM intrusion that hosts the Santo Amaro resource remains open in both directions along strike, the easterly extension exhibits a potential thickening of the target package and was subsequently targeted with 2 holes in 2021. Both holes intercepted broad, shallow intervals of chromite-bearing UMs along trend from the existing resource, with DD21SA42 transecting 110 m of the target host intrusion and DD21SA40 transecting 24 m (assays pending).

The resource strike potential also remains open to the west, as evidenced by western-most 2020 drill hole DD20SA23, which returned 20 m at 0.98 g/t 2PGE+Au from surface (CLICK HERE for news release dated January 15, 2021). Potential geological continuity has been built with the advancing Northwest target area, which would more than double the trend of shallow PGE-bearing ultramafics at Santo Amaro.

Northwest Target Area (“NW”)

An emerging shallow PGE body approximately 250 m north-northwest of the resource area was drilled with 6 holes totaling 729 m in Q3-Q4 2021, with the goal of incorporating the zone into a future inferred resource estimate. All 6 holes intercepted the target shallow UM intrusion, building strong geological continuity across the 200 m by 300 m zone. Assays remain pending for 5 out of the 6 NW holes, with the DD21SA27 returning 31 m at 0.26 g/t 2PGE+Au from 88 m, including 4.0 m at 0.99 g/t 2PGE+Au from 88 m.

Table 1: Significant Core 2PGE+Au Assays from 2021 Santo Amaro Drilling (Partial Results)

Hole ID**

From (m)

To (m)

Length (m)

Au (g/t)

Pd (g/t)

Pt (g/t)

2PGE+Au (g/t)

Summary Interval

DD21SA25

41.90

99.76

57.86

0.01

0.29

0.30

0.60

58 m at 0.60 g/t 2PGE+Au from 42 m

DD21SA26

34.02

62.60

28.58

0.04

0.54

0.26

0.83

29 m at 0.83 g/t 2PGE+Au from 34 m
incl. 12 m at 1.12 g/t 2PGE+Au from 43 m

43.00

55.00

12.00

0.02

0.73

0.37

1.12

DD21SA27

8.50

13.00

4.50

0.01

0.12

0.12

0.26

4.5 m at 0.26 g/t 2PGE+Au from 8.5 m
and 31 m at 0.26 g/t 2PGE+Au from 88 m
incl. 4.0 m at 0.99 g/t 2PGE+Au from 88 m

88.00

119.00

31.00

0.01

0.17

0.08

0.26

88.00

92.00

4.00

0.02

0.73

0.25

0.99

DD21SA28

19.95

27.60

7.65

0.05

1.30

1.60

2.96

7.7 m at 2.96 g/t 2PGE+Au from 20 m
incl. 3.0 m at 5.24 g/t 2PGE+Au from 22 m

22.00

25.00

3.00

0.08

2.55

2.60

5.24

DD21SA29

22.55

51.42

28.87

0.14

0.89

0.38

1.41

29 m at 1.41 g/t 2PGE+Au from 23 m

DD21SA30

42.55

78.15

35.60

0.02

1.16

1.05

2.22

36 m at 2.22 g/t 2PGE+Au from 43 m
incl. 9.1 m at 6.38 g/t 2PGE+Au from 43 m

42.55

51.67

9.12

0.03

3.28

3.07

6.38

DD21SA32

18.14

41.00

22.86

0.03

0.84

0.20

1.07

23 m at 1.07 g/t 2PGE+Au from 18 m
incl. 8.0 m at 2.13 g/t 2PGE+Au from 22 m

22.00

30.00

8.00

0.06

1.71

0.36

2.13

*Reported core assay interval lengths are estimated to represent 90-100% true width
**Assays pending for drill holes DD21SA31, and DD21SA33 to DD21SA42

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (QP)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. (TSXV: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 51 exploration licenses covering a total area of 55,984 hectares (138,339 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

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

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2), is pleased to announce that Alex Klenman, President & CEO and Trevor Perkins, VP Exploration of the Company will go through Azincourt’s October 2021 presentation including an update on current operations at the East Preston Uranium Project, and upcoming milestones.

You can register for the webinar below:

Date: Thursday, October 21st
Time: 2pm ET
Register: Webinar Registration

HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the Zoom webinar platform. You may also submit your question(s) to us in the registration or by email at azincourt@rbmilestone.com.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

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

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com