TORONTO, April 22, 2021 (GLOBE NEWSWIRE) — Jourdan Resources Inc. (TSXV: JOR) (“Jourdan” or the “Company”) is pleased to announce that, further to its press release dated January 21, 2021, it has received the assay results of the first batch (22 samples) of its sampling of the bulk sample, with grades showing of over 1.5% Li₂O.

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

• Lithium (Li) values of the samples tested were in the range of 6,120 ppm (parts per million) to 8,190 ppm, with an average of 7,264 ppm.

• Lithium oxide (Li₂O) values of the samples tested averaged 1.56% and ranged from 1.31% to 1.76% Li₂O.

• Beryllium values of the samples tested ranged from 254 ppm to 408 ppm, with a cesium average of 7.45 ppm, and a niobium average of 106 ppm.

• The Rubidium average in the samples tested was 1,577 ppm, with a tantalum average of 35 ppm, and a barium average of 58 ppm.

Rene Bharti, CEO of Jourdan, stated, “We are very excited to have received the first half of assay results showing high grade Li₂O in the bulk sample that was taken at our Vallee lithium project. We are now very confident that we can begin to undertake a drilling program to work towards establishing an inferred mineral resource. Given the COVID pandemic and subsequent lockdown, results took longer than we had hoped, but we are very encouraged to see such high-grade lithium results. We plan on releasing the second set of results in the coming weeks. We anticipate that these results will take us closer to realizing our ambition of becoming a leading Canadian hard rock lithium producer.”

Jourdan’s chairman, Dr. Andreas Rompel, stated, “Given the large amount of sampling that we conducted, we feel even in the first half, we have a homogenous sample. This implies that these results speak to a large region, and not a specific zone. We are currently analyzing the second batch, and we intend to publicise the results shortly after receipt. Based on our current findings, we are very excited to move forward to begin drilling and defining an inferred mineral resource.”

Bulk Sampling Assaying

47 samples were taken from the 40-tonne bulk sample, which was retrieved from the Company’s Vallee lithium project site during 2018. 40 of the 50 tonnes retrieved were shipped in a series of 2 tonne sacks to Process Research Ortech Inc. (“Ortech”) in Mississauga, Ontario for metallurgical test work. During the first quarter of 2021, 47 individual samples were taken on two different occasions under the supervision of Jourdan’s personnel at Ortech. In the first sampling exercise reported here, 22 samples were taken from 3 sacks located inside the laboratory. Three samples (2257311, 2257314, 2257315) consisted of fine milled samples produced previously by Ortech. The other samples consisted of shovel loads of material from one sack spread out on a canvas. The average sample weight of these samples was 2.2 kgs. The 22 samples were sent to AGAT Laboratories in Mississauga, Ontario and were assayed for 58 different elements utilising the sodium peroxide fusion method with an ICP OES or MS finish. The results for lithium were subsequently multiplied by a factor of 2.153 to arrive at a value for Li₂O. The highest grade assayed was 1.76% Li₂O, with an average of 1.56% Li₂O, and a standard deviation of 0.10.

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

In addition, the Company is excited to report elevated rubidium values averaging 1577 ppm.

Qualified Person

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

Table 1

About Jourdan

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

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

Cautionary statements

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

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s ability to undertake a drilling program, to further investigate the strike and down dip extent of pegmatites at the Vallee lithium project, and to establish an inferred mineral resource, the publication of a second set of bulk sample results, the business and operations of the Company, and the Company’s ability to execute its business plan, including its ambition to become a leading Canadian lithium producer. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Figure 1

Location of the Avispa Exploration Concessions and major copper mines in northern Chile.

Figure 2

Location and geology of the Avispa Concessions Awarded (black) and Concessions in Application (red).

TORONTO, April 21, 2021 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has been awarded exploration concessions covering 13,200 hectares (the “Avispa project” or “Property”) in the Atacama Desert of northern Chile. More recently the Company submitted 14 new applications covering an additional 3,800 hectares adjoining the Avispa project to control a total of 17,000 hectares. Avispa is located about 40 km west of the Chuquicamata copper mine which is the world’s largest open pit copper mine (Figures 1 & 2). The Avispa project is situated within the defined north to south trending Palaeocene – Eocene Cu-Mo porphyry belt and is located about 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine.

The geology of the Avispa project area consists of extensive sedimentary evaporite salt deposits intercalated with fine grained clastic sediments of Tertiary age. The sediments largely cover a suite of Palaeocene monzodiorite and diorite porphyries as well as Cretaceous andesitic and diorite porphyries. The Avispa district was previously the target of some wide-spaced exploration drilling by BHP. Avispa is a legacy asset originally acquired in 2019, the Company believes it holds considerable potential for buried porphyry-type Cu-Mo mineralization.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as other significant world class operating Cu-Mo mines. Avispa is a legacy exploration asset that the Company is seeking to monetize and provide Montero shareholders exposure to the burgeoning copper market in the new green economy. Montero’s primary focus remains on advancing the Isabella Au-Ag project in the highly prospective and under-explored Coastal Range of southern Chile.”

Figure 1. https://www.globenewswire.com/NewsRoom/AttachmentNg/2e6a141b-00db-409b-9a19-22185ccca064

Figure 2. https://www.globenewswire.com/NewsRoom/AttachmentNg/b837320e-a07b-4315-97e5-a42b3b72e9d0

Montero’s Chief Geologist, Marcial Vergara, is reviewing publicly available data on Avispa and has conducted a field visit. Marcial previously worked for Codelco and Anglo American, both major operating copper mining companies in Chile. Montero has adopted a prospect generator model at Avispa where it will de-risk the project and carry out limited exploration while seeking a partner to advance the project through the drill phase. This will provide Montero shareholders with exposure to the copper space while it continues to focus on the gold silver potential of southern Chile.

Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. who are qualified persons for the purpose of National Instrument 43-101. Sr Vergara is based in Santiago and has more than 30 years’ experience in copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

TORONTO, April 21, 2021 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that it has today (the “Closing Date”) closed its previously announced bought deal private placement financing of 26,000,000 units of the Company (the “Units”) at a price of $0.50 per Unit for aggregate proceeds to the Company of C$13,000,000 (the “Offering”).

The net proceeds of the Offering will be used for the advancement of the Company’s Norasa Project in Namibia and for general corporate purposes.

Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one Common Share at a price of C$0.75 per Common Share at any time on or before the date which is 24 months after the Closing Date.

The Offering was underwritten on a bought-deal basis by Canaccord Genuity Corp. and Red Cloud Securities Inc. (the “Co-Lead Underwriters”).

In connection with the Offering, the Co-Lead Underwriters received a cash commission equal to 7% of the gross proceeds of the Offering (for a total cash commission of C$910,000) and that number of broker warrants (the “Broker Warrants”) equal to 7% of the aggregate number of Units sold under the Offering (for a total of 1,820,000 Broker Warrants). Each Broker Warrant is exercisable into one Common Share at a price of $0.57 for a period of 24 months from the closing date of the Offering.

All securities issued under the Offering will be subject to a hold period of four months following the Closing Date.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium developer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43‐101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company’s website and under the Company’s filings on SEDAR.

On behalf of the Board of Directors of Forsys Metals Corp. Mark Frewin, Interim Chief Executive Officer.

For additional information please contact:

Jorge Estepa, Corporate Secretary
Telephone: (416) 818-4035 or Email: je@forsysmetals.com

Forward-Looking Information

This news release contains projections and forward‐looking information that involve various risks and uncertainties regarding future events. Such forward‐looking information includes statements about the Offering and the use of proceeds therefrom and can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause Forsys actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full description of these risks can be found in Forsys Annual Information Form available on the Company’s profile on the SEDAR website at www.sedar.com. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward‐looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward‐looking information should circumstance or management’s estimates or opinions change. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Vancouver, British Columbia–(Newsfile Corp. – April 21, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2:GR) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to announce that it has achieved a significant milestone with the production of lithium carbonate of Battery Grade (BG) purity from the first batch of brine processed through the Company's pilot plant at its Pastos Grandes Project in Salta Province, Argentina. The pilot plant produced lithium carbonate with a purity of 99.96%. Typical Battery Grade quality lithium carbonate is > 99.5% purity. The brine feedstock was derived from the Company's Production well PGMW17-04 on the Pastos Grandes Salar which was pumped to ponds that concentrate the lithium carbonate by solar evaporation.

Analytical work on the lithium carbonate samples was completed first at the project development park laboratory, with check analyses performed by Kemetco Research Inc. ("Kemetco") of Richmond, B.C. In addition to check chemical analyses Kemetco also conducted physical testing, including Particle Size Determination (PSD) and a scanning electron microscope (SEM) study for crystal habit determination. The PSD test results indicate the lithium carbonate product has a typical size distribution and is amenable to micronization to meet battery application requirements.

Farhad Abasov, President and CEO, commented: "The Company is very pleased to have reached this significant milestone with our pilot plant producing from the very first run Battery Grade quality lithium carbonate. The analytical results from this first batch indicate Battery Grade lithium carbonate can be produced prior to the CO₂ purification stage, and with CO₂ purification, we have the potential to produce a superior premium BG lithium carbonate product which may command a price premium. This has been accomplished using a proven flowsheet as outlined in the original plant design in the Company's Feasibility Study (see press release July 29, 2019). We have also demonstrated that we have the option to produce high quality Technical Grade and Battery-Grade product at lower cost than estimated in the Company's Feasibility Study using the basic processing."

The process design for Millennial's Pastos Grandes Project incorporates industry standards to produce lithium carbonate which is typically Technical Grade, and then a further lithium bicarbonate purification stage in order to consistently produce very high quality lithium carbonate.

In Millennial's pilot plant, a first stage lithium carbonate (Technical Grade – basic Battery Grade) is produced, which can be further purified by re-crystallization using the addition of CO₂ in order to make a lithium bicarbonate solution. This solution is filtered to remove final impurities, heated, the CO₂ recovered and lithium carbonate re-crystalized as a consistent battery-quality lithium carbonate. This first brine batch yielded two lithium carbonate samples; the analytical results of both products are shown in Table 1. As outlined in the results the Millennial team was successful in producing Battery Grade quality lithium carbonate at the completion of the basic stage and a premium quality Battery Grade at the completion of the purification process.

The impurity levels in the lithium carbonate product are very low and meet the specifications for Battery Grade qualifications from battery manufacturers (see Table 1). Typical impurities in lithium carbonate for battery production include Na, Ca, SO₄, K, and B. All these elements showed low values in the lithium carbonate produced in the Pastos Grandes project pilot plant. Table 1 below shows results as reported by Kemetco, a private sector integrated science, technology and innovation company, and confirmed Millennial's internal laboratory results, with the addition of Loss On Ignition (LOI) at 500 degrees Celsius for 30 minutes, and contents for additional minor impurities. Kemetco provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Kemetco has experience with a wide variety of metals such as lithium, nickel, cobalt, manganese, copper, zinc, lead, gold, silver, vanadium and platinum group metals. Kemetco's clients range from start-up companies developing new technologies to large multinational corporations with proven processes.

Table 1 Analytical results of lithium carbonate samples (dry basis). *Other impurities include Cl, Si, Al, Ba, Co, Cr, Fe, Mn, Ni, P, Zn.

The analytes concentration of Boron, Calcium, Magnesium, Potassium, Sodium, and Sulphate were quantified by ICP-OES (Inductively Coupled Plasma – Optical Emission Spectrometry) with an appropriate calibration method using high purity standards. Chloride concentration was determined by the mercuric thiocyanate colorimetric method. LOI at 500 degrees Celsius for 30 minutes was quantified by the gravimetric method. The Lithium Carbonate assay was then calculated by subtraction of impurities. A minor amount of insoluble material which has not been included was introduced by the first use of the equipment and by additional handling, both of which have been resolved for subsequent trials.

In addition to the standard purity and impurity analyses, the Company also engaged Kemetco to determine the product Particle Size Distribution (PSD) via laser diffraction and analysis by Scanning Electron Microscope (SEM) to assist in determining crystal habit and morphologies. The main PSD metric for battery quality product is the D50 value which identifies the maximum particle size for 50% of the product. The D50 for the Premium Battery Grade product is 67µm (ie 50% of the product is less than 67µm, or 0.067mm) and for the Battery Grade product is 177µm, similar to values from other pre-micronized lithium carbonate products of existing producers. The Company is currently planning and preparing additional samples to be sent for comprehensive micronization studies targeting final product with a D50 of 5µm (5 microns which is the optimal value for a battery grade product. The SEM work has confirmed the particle size and the morphology of the lithium carbonate crystals for the Premium Battery Grade sample is predominantly tabular, while the primary stage Battery Grade sample is characterized by rosette aggregates of similar blades. Both appear to be amenable to micronization.

The Company initiated pilot pond construction in 2018 and began directing brine to the ponds later that same year. The pilot plant is being fed with concentrated lithium-rich brine from smaller feeder ponds which had reached a target grade of 3% Li. Brine chemistry, particularly K, B, Ca, Mg, and SO₄ concentrations are in line with target specifications and plant design parameters outlined in the Company's Feasibility Study completed in 2019 (see press release July 29, 2019). The first phase of the process, the Solvent Extraction (SX) system was successful in removing the majority of the boron (B) from the brine. The SX stage is followed by brine purification via carbonation and liming reactors designed to remove calcium (Ca) and magnesium (Mg). After this initial carbonation stage the concentrated brine is directed through to the first ion exchange (IX) columns to further reduce remaining trace Ca, Mg and B, followed by the main lithium carbonate precipitation reactor which in this trial yielded a Battery Grade product. Lastly, the CO₂ purification stage which includes a second IX ensures consistent premium Battery Grade purity.

As part of the pilot plant operation and training the Company's engineering department identified optimization opportunities in reactor construction and brine heating, and introduced more efficient and faster solid liquid separation techniques in order to achieve a purified brine. These changes are currently being implemented and upon completion a second batch of brine will be processed as the pilot plant continues to ramp up production.

As part of the Company's ongoing corporate initiative to develop staff within the Company and offer opportunities to people in local communities, on-site training and education of pilot plant and liming pant operators and pilot pond management teams have been expanded. This workforce increase will facilitate plant operation with the end-goal of providing fully qualified staff prepared for future commercial operation. A comprehensive Health, Safety and Environmental protocol and training program has been implemented for all stages of the plant.

Readers are encouraged to visit the Millennial website (www.millenniallithium.com) and view the recent video of the pilot plant.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

"Farhad Abasov"

President, CEO and Director

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

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Argentina which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties, export policies or taxes in Argentina and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81052

The underwhelming share price performance of Energy Resources of Australia Ltd (ASX:ERA) in the past three years would have disappointed many shareholders. What is concerning is that despite positive EPS growth, the share price has not tracked the trend in fundamentals. Shareholders may want to question the board on the future direction of the company at the upcoming AGM on 28 April 2021. They could also influence management through voting on resolutions such as executive remuneration. We think shareholders might be reluctant to increase compensation for the CEO at the moment, according to our analysis below.

View our latest analysis for Energy Resources of Australia

Comparing Energy Resources of Australia Ltd's CEO Compensation With the industry

At the time of writing, our data shows that Energy Resources of Australia Ltd has a market capitalization of AU$849m, and reported total annual CEO compensation of AU$974k for the year to December 2020. That's just a smallish increase of 3.1% on last year. While this analysis focuses on total compensation, it's worth acknowledging that the salary portion is lower, valued at AU$393k.

In comparison with other companies in the industry with market capitalizations ranging from AU$517m to AU$2.1b, the reported median CEO total compensation was AU$977k. So it looks like Energy Resources of Australia compensates Paul Arnold in line with the median for the industry.

On an industry level, roughly 68% of total compensation represents salary and 32% is other remuneration. Energy Resources of Australia pays a modest slice of remuneration through salary, as compared to the broader industry. If total compensation is slanted towards non-salary benefits, it indicates that CEO pay is linked to company performance.

A Look at Energy Resources of Australia Ltd's Growth Numbers

Over the past three years, Energy Resources of Australia Ltd has seen its earnings per share (EPS) grow by 49% per year. It achieved revenue growth of 8.1% over the last year.

This demonstrates that the company has been improving recently and is good news for the shareholders. It's good to see a bit of revenue growth, as this suggests the business is able to grow sustainably. Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow.

Has Energy Resources of Australia Ltd Been A Good Investment?

Few Energy Resources of Australia Ltd shareholders would feel satisfied with the return of -43% over three years. Therefore, it might be upsetting for shareholders if the CEO were paid generously.

To Conclude…

The fact that shareholders are sitting on a loss on the value of their shares in the past few years is certainly disconcerting. The stock's movement is disjointed with the company's earnings growth, which ideally should move in the same direction. Shareholders would be keen to know what's holding the stock back when earnings have grown. The upcoming AGM will be a chance for shareholders to question the board on key matters, such as CEO remuneration or any other issues they might have and revisit their investment thesis with regards to the company.

While CEO pay is an important factor to be aware of, there are other areas that investors should be mindful of as well. We did our research and spotted 1 warning sign for Energy Resources of Australia that investors should look into moving forward.

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

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

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

In this article we are going to estimate the intrinsic value of Western Areas Limited (ASX:WSA) by projecting its future cash flows and then discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. There's really not all that much to it, even though it might appear quite complex.

We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

Check out our latest analysis for Western Areas

Crunching the numbers

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = AU$282m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.6%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$126m× (1 + 2.0%) ÷ (7.6%– 2.0%) = AU$2.3b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$2.3b÷ ( 1 + 7.6%)¹⁰= AU$1.1b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is AU$1.4b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of AU$2.3, the company appears quite good value at a 49% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope – move a few degrees and end up in a different galaxy. Do keep this in mind.

The assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Western Areas as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 1.072. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking Ahead:

Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Can we work out why the company is trading at a discount to intrinsic value? For Western Areas, we've put together three essential factors you should further research:

1. Risks: For instance, we've identified 2 warning signs for Western Areas that you should be aware of.

2. Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for WSA's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.

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

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

VANCOUVER, BC, April 20, 2021 /CNW/ – Trading resumes in:

Company: Minnova Corp.

TSX-Venture Symbol: MCI

All Issues: No

Resumption (ET): 10:45 AM

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

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

View original content: http://www.newswire.ca/en/releases/archive/April2021/20/c7533.html

Galaxy Resources Limited (ASX:GXY) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with the analysts modelling a real improvement in business performance. The market may be pricing in some blue sky too, with the share price gaining 13% to AU$3.70 in the last 7 days. It will be interesting to see if today's upgrade is enough to propel the stock even higher.

After this upgrade, Galaxy Resources' seven analysts are now forecasting revenues of US$112m in 2021. This would be a sizeable 102% improvement in sales compared to the last 12 months. The losses are expected to disappear over the next year or so, with forecasts for a profit of US$0.0025 per share this year. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$97m and losses of US$0.0026 per share in 2021. It looks like there's been a definite improvement in business conditions, with a revenue upgrade supposed to lead to profitability sooner than previously forecast.

See our latest analysis for Galaxy Resources

With these upgrades, we're not surprised to see that the analysts have lifted their price target 29% to AU$3.35 per share. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic Galaxy Resources analyst has a price target of AU$4.80 per share, while the most pessimistic values it at AU$1.80. This is a fairly broad spread of estimates, suggesting that the analysts are forecasting a wide range of possible outcomes for the business.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Galaxy Resources' rate of growth is expected to accelerate meaningfully, with the forecast 102% annualised revenue growth to the end of 2021 noticeably faster than its historical growth of 21% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue shrink 1.0% per year. It seems obvious that as part of the brighter growth outlook, Galaxy Resources is expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that the consensus now expects Galaxy Resources to become profitable this year. Fortunately, they also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Given that the consensus looks almost universally bullish, with a substantial increase to forecasts and a higher price target, Galaxy Resources could be worth investigating further.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Galaxy Resources going out to 2023, and you can see them free on our platform here..

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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

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

Sleeper Gold Project Land Claims

Paramount acquired the South Sleeper claims for $350,000 in a combination of cash and shares.

• 152 lode claims totalling approximately 3,100 acres

• New claims will be included in exploration and drill programs expected to commence this summer

WATCH VIDEO SUMMARY OF THE PRESS RELEASE

WINNEMUCCA, Nev., April 20, 2021 (GLOBE NEWSWIRE) — Paramount Gold Nevada Corp. (NYSE American: PZG) announced today it has completed the purchase of 152 unpatented lode claims (~3,100 acres) from South Sleeper Resources LLC. The claims are located only two miles south of Paramount’s wholly-owned former high-grade producing Sleeper Gold Mine.

With the acquisition of the South Sleeper claims, Paramount has increased its total land position to over 40,000 acres in the prolific and highly prospective Sleeper district situated at the intersection of two major Nevada mining trends – the Battle Mountain-Eureka and Western Nevada Rift.

The claims were formerly owned by several Nevada companies that collectively conducted numerous geophysical surveys and completed a total of 11 drill holes which intersected gold values up to 9.48 g/T over 3.05 meters (10 ft.) in alluvium. These drill results were never properly assessed or followed up.

Paramount CEO, Rachel Goldman commented: “This acquisition fits with our strategy of consolidating prospective targets near our material projects and applying our significant district knowledge of the geology to develop and execute successful exploration programs.”

On the merits of these new claims, Glen van Treek, Paramount President and COO, explained: “The Sleeper deposit sits on the margins of one of many major structural and lithological occurrences known as a ‘range front fault’ where several Nevada deposits have been found. In the Sleeper district, this feature, which is found throughout Nevada, is marked by a transition from ‘high density’ Jurassic-Triassic rock to the ‘lighter’ Tertiary volcanic sequences where the Sleeper mineralization is hosted. This major transition or break, together with other favourable structural zones, can be mapped in the field by geologists or, when covered by alluvium, using geophysical surveys. Our team has used a gravimetric survey to map the variations in density due to rock changes or significant alteration processes. At Sleeper, these favourable structures trend south-south-west (SSW), converging on our newly acquired claims.” (see image below)

Paramount acquired the South Sleeper claims for $350,000 in a combination of cash and shares.

Paramount has engaged several renowned consultants including Mine Development Associates, Inc. (a division of RESPEC) to assist the Paramount team in the review of all available data including drilling, geophysical surveys and geochemistry with the objective of developing an exploration program at the district sized Sleeper project which is now complemented by the addition of the South Sleeper claims. The drill program is expected to commence this summer.

About Paramount Gold Nevada Corp.
Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering joint ventures with producers for construction and operation; or constructing and operating mines for its own account.

Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive Feasibility Study have been released and key permitting milestones accomplished.

Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada, the world’s premier mining jurisdiction. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). The Sleeper gold project is host to a large gold deposit (over 4 million ounces of mineralized material) and the Company has completed and released a positive Preliminary Economic Assessment. With higher gold prices, Paramount has begun work to update and improve the economics of the Sleeper project.

Safe Harbor for Forward-Looking Statements
This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions are intended to identify forward-looking statements, although these words may not be present in all forward-looking statements. Forward-looking statements included in this news release include, without limitation, statements with respect to the use of proceeds from the Offerings. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the conclusions made in the feasibility study for the Grassy Mountain Gold Project (the “FS”); the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the FS; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals and permits; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy Mountain Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs and between estimated and actual production; the global epidemics, pandemics, or other public health crises, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario, British Columbia and Alberta Securities Commissions.

Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

Paramount Gold Nevada Corp.
Rachel Goldman, Chief Executive Officer
Christos Theodossiou, Director of Corporate Communications
866-481-2233
Twitter: @ParamountNV

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a73191d-d6ea-4bfb-8834-b1864c3fbc7b

Vancouver, British Columbia–(Newsfile Corp. – April 20, 2021) – Quaterra Resources Inc. (OTCQB: QTRRF) (TSXV: QTA) ("Quaterra" or the "Company") today announced that a 7,000 -10,000-foot core drilling program will begin during the first week of May at its MacArthur copper oxide project in the Yerington District, Nevada. Costs associated with the program will be internally funded through utilization of funds on hand and funds derived through the recent exercise of Warrants prior to their maturity date.

The drill program, with an estimated time frame of 2-3 months, is designed to accomplish three objectives:

• Test the area east of the current resource for additional oxide mineralization

• Upgrade portions of the resource from Inferred to Indicated status

• Explore the under – drilled sulfide mineralization which exists beneath the oxide mineral resource.

This drilling program is the first major step toward completion of a prefeasibility study (PFS) which will be followed by a program of large diameter core drilling for the purpose of obtaining fresh samples for metallurgical testing; column testing to refine estimates of copper recovery and acid consumption; and mine plan optimization and financial model updating.

The Company estimates that completion of the PFS will require 12-15 months and an expenditure of US$3.5M-$4.0M, dependent upon results and the availability of funds. The successful completion of the PFS will substantially de-risk the project and inform whether the project should proceed to permitting, development, construction and operation.

The Company has completed in excess of a year of scoping work, including engineering work with results which suggest that the project may be amenable to a run-of-mine operation which could lower capital and operating costs. Like all acid-leach projects, MacArthur is sensitive to the price of copper, which has recently increased in excess of $4.00/lb. and to the price and usage of acid. The PFS will include a trade-off study to compare building an on-site acid plant versus shipment of acid from off-site, which could further reduce capital costs.

More information on timing and milestones for completion of the PFS will be available upon completion of the drill program.

About Quaterra Resources Inc.

Quaterra Resources Inc. is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its Yerington copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Thomas Patton, Chairman
Quaterra Resources Inc.

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057

Jay Oness
Investor Relations
604-808-9479
Thomas Patton, Chairman
Quaterra Resources Inc.
604-641-2758

Email: info@quaterra.com
Website: www.quaterra.com

Disclosure note:

Some statements in this news release are forward-looking statements under applicable United States and Canadian laws. These statements are subject to risks and uncertainties which may cause results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80987

2021 Project budget of ~$60 million

Figure 1: General locations for 2021 Spring Drilling Exploration Targets

Figure 1: General locations for 2021 Spring Drilling Exploration Targets

Figure 2: Focused view of the Hook target, a key area between the Goose Main Deposit and the Nuvuyak Deposit.

Figure 2: Focused view of the Hook target, a key area between the Goose Main Deposit and the Nuvuyak Deposit.

VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce that the Goose Camp has been successfully re-opened and work programs focused on pre-development advancement and exploration have commenced at the Goose Property on its 100%-owned Back River Gold Project (“Back River” or the “Project”) in Nunavut, Canada

Operating under Sabina’s COVID-19 Protocol Operational Framework, camp personnel have been safely mobilized into site and have commenced the 2021 field programs. Sabina will continue to engage with relevant parties and with the safety and well-being of our employees as our focus, will modify protocols based on new information to ensure our measures are protective.

Sabina anticipates that the Goose site will remain open from present to end of year for 2021 targeting several key initiatives focused on advancing the Project. Pre-development activities are focused on critical path activities needed to maintain the targeted production schedule as contemplated in the Updated Feasibility Study.

Exploration drilling and field programs will focus on advancement of gold targets and zones designed to provide near term positive impact at the Goose site. In addition, a return to the George site for reconnaissance work will help develop a phased strategy for future programs on the Back River Gold District’s second most advanced property.

“We have a busy year planned at Back River for 2021,” said Bruce McLeod, President and CEO. “Camp is now up and running and we are looking forward to another successful year, accomplishing the necessary activities to continue to advance the Project towards a production decision. Exploration drills have started turning with first results expected in June, and camp personnel are gearing up for significant earthworks this year. Construction is also set to begin on the underground exploration ramp at Umwelt. As we focus on pre-development work at Goose this year, we will also be returning to the George property for the first time since 2013. Situated approximately 50km north of the Goose site, George is the Back River Gold District’s second most advanced property, and we are eager to apply some of the successful exploration themes from Goose to the deposits at George.”

Project Development

Project development work at Goose will focus on detailed engineering, procurement, completion of select earthworks at the Port and Goose site and commencing the development of the underground ramp for exploration of the Umwelt deposit.

Detail engineering will advance on the crushing and screening plant, process plant, power house, truck shop and the Goose site fuel farm design. Detailed engineering should be largely competed in H2, 2021.

Additionally, Sabina is working to complete detailed design for the plant site pond; rough grade for the process plant; fuel farm pad; water management structures; and accommodation complex design. As part of this work the Company is also evaluating optimization opportunities on the sequencing of underground and open pit mining.

The exploration ramp, will involve establishing the on-surface support facilities, collaring the 5 m x 5 m portal and driving toward the Umwelt underground to provide for continued exploration of the Umwelt Zone.

Procurement items include phase one of the accommodation complex ~(278 rooms); steel and cladding for the process mill building and truck shop; multiplate steel tunnels for crushed ore reclaim; construction equipment required for foundation installation and building erection; secondary cone crusher, crusher screen and grizzly feeder; and phase one of the open pit mining fleet. These items will enable Sabina to be well prepared to begin pre-stripping of the Echo open pit once funding is obtained and a production decision is made.

Sabina is also actively working with a logistics specialist (Air- and Sea-lift) to finalize the execution strategy for goods and equipment to site.

Construction activities will continue with civil works including; construction of bulk fuel storage tank and containment at the Goose Site; completion of the fuel containment berm at the Port; advancement of the underground exploration ramp development at Umwelt; completion of infrastructure to support ramp activities, including a surface workshop for equipment maintenance, and water storage settling pond. This field season includes a geotechnical drilling program to provide additional information for water management structures.

Exploration

The spring drilling program at Goose will total approximately 4000 m and will be carried out during April and May. Drilling will be focused on testing four to five early-stage exploration target areas and a four to five drillholes at the Hook zone (Figure 1 & 2). The early-stage exploration targets have been evolved through updated geological modeling with refined data interpretations derived from the study of historic drill core, recent field mapping and geophysics that includes input from a VTEM survey that was completed in 2020. The early-stage targets are predominantly of shallow to moderate depth and success at any of these targets could have the potential to impact current mine life economics. The Hook zone, which is located along the favorable gold structure that trends between the Goose Main and the Nuvuyak deposits, will be tested with a series of four to five drill holes. Drilling will focus on a 300 m section of the 700 m Hook zone where favourable geology and significant gold values show a strong potential for mineralization similar to that seen at Goose Main and Nuvuyak.

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/11d3c960-a3e9-4848-9dad-259176bea44e

https://www.globenewswire.com/NewsRoom/AttachmentNg/eaed2c8e-c7f9-42d6-a5ce-bab05b9ee0f0

A summer field work program is planned for the George site, which is located 50 km north of the Goose site. George currently has a mineral resource estimate of 1.2 M oz @ 5.34g/t Au in the Indicated category and an additional 1.1 M oz @ 6.12g/t Au in the Inferred category. Field work at George will consist of field mapping and rock sampling for evaluation and modeling of drill targets outside of the current George resource areas. This field campaign at George will be the first phase of a focused return to George exploration with the objective of demonstrating potential for additional discovery and resource growth towards definition of a stand-alone secondary development site for Sabina at Back River.

Qualified Persons

Mr. James Maxwell, P. Geo., and Director of Exploration for Sabina, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this press release as it relates to the Back River Project.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.

Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV_5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

For further information please contact:

Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including, but not limited to, statements related to the expected use of proceeds of the Offering and the projections and assumptions of the results of the UFS. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the uncertainty of production, development plans and costs estimates for the Back River Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs; the interpretation of drill, metallurgical testing and other exploration results; the ability of the Company to retain its key management employees and skilled and experienced personnel; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities; and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of the our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2020 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

Bruce McLeod, President & CEO
Suite 1800 – Two Bentall Centre
555 Burrard Street
Vancouver, BC V7X 1M7
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

Toronto, Ontario–(Newsfile Corp. – April 20, 2021) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), a discovery-stage exploration and advanced development-stage gold company focused on the expansion and restart of our 100% owned PL Gold Mine in central Manitoba is pleased to announce recent exploration developments, current and planned on site activities.

Visible Gold Intersected in Step-Out Drilling

Targeted deep drilling on the down dip/on strike extension to earlier positive drill results from the Company's Spring 2021 drill campaign have intersected visible gold in hole M-21-048x at a depth of 208 m. Visible gold mineralization is described as coarse, 1mm to 3mm grains at the margins of a 30.0 cm wide quartz vein (see Photo 1). The success of this intercept is a result of a detailed re-interpretation of historic drilling along with more recent shallow drilling on the PL North mineralized structures. From this work it was determined that a previous Minnova wildcat hole testing a shallow airborne EM conductor may have been shut down short of the projected down dip extension of the PL North mineralized structures. The successful re-entry of M-21-048x affirms a predictable model for gold mineralization based on continued structural analysis of the deposit. Iterations of this model are being used for deposit development and regional scale exploration.

Photo 1: Visible Gold in Quartz Vein

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3654/81026_img1.jpg

Visible Gold was logged along the margins the quartz vein is located within a broader high-strain structure measuring 1.0 meters at the target depth. This structure is interpreted to be the down dip extension of the PL North Upper Zone. M-21-048x is located approximately 350 meters northwest of the PL mill and over 500 meters beyond the limits of the 2017 PL Deposit resource model. This mineralized intercept demonstrates that the deposit is open for expansion along strike and down-dip beneath the permitted 1,000 tpd PL mill (see Figure 1 Location Map).

Figure 1: Location Map of DDH M-21-048x

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3654/81026_b99e7d97f4414bf3_003full.jpg

Gorden Glenn, President & CEO, commented: "We are very excited to announce this intercept of visible gold. It confirms our structural model that the mineralized PL North structures extend to significant depth along strike to the northwest. This intercept is the result of thorough structural analysis by our exploration team. This discovery is also significant as it is located well outside the currently defined PL Deposit reserves and resources (see Note 1) and demonstrates the significant potential for resource expansion and brown-fields exploration of the PL Project.

In fact, it is the most significant and farthest step-out drill hole in the history of the property. It gives credence to the potential for additional gold deposits in the greater PL Project region. We intend to aggressively follow up these results with further diamond drilling at depth and along strike."

PL Mine Phase-1 Restart Update

In addition to exploration upside evidenced by above noted discovery of visible gold in step-out drilling the Company is confident that the current development options being studied will also deliver significant shareholder value.

The Company is actively planning for an optimized Phase-1 Restart of the PL Mine to capitalize on current high gold price and positive gold price outlook. Our efforts are focused on development strategies that minimize; both risk, and initial capital costs to optimize near term and long term mine developments and operational plans to maximize metallurgical recoveries.

A key variance to the initial development strategy from the 2017 Feasibility Study is the development of a new northern portal and decline to access the PL deposit. Benefits to this development approach include:

• much earlier access to high grade reserves and resources potentially shorting time to first production

• reduced initial underground development requirements

• increased development options for initial test mining techniques that focus on selective mining to minimizing dilution without compromising overall resource extraction

• optimal location for new underground access as resource appears to extend to the northwest

• underground mine access closer to the mill to reduce ore haul travel distance on surface

Included in our revised mine development plan is the opportunity to initiate an on-site bulk sample of mined material provided by the test mining program. On-site testing is envisioned to include basic crushing, milling, and processing via modern gravity recovery equipment. This testing will contribute to updated metallurgical recoveries using modern gravity concentration technology and potentially allow free gold to be recovered during the early test mining phase. Tailings from the gravity process test work will be a) stockpiled for future on-site flotation processing following the restart of PL mill and b) sent offsite for additional floatation circuit recovery testing. Previous metallurgical studies estimated over 50% of gold recovery by gravity concentration using spirals, jigs and a shaker table, technology prevalent at that time.

The company is optimistic the revised mine development plan and onsite bulk sample test work will result in streamlined processes that lead to significant cost savings and improve overall gold recovery.

The PL Mine is located in a mining friendly jurisdiction with access to a highly skilled local workforce. The Company believes the PL Mine can make a significant contribution to regional economic development and future investment in the historic Flin Flon, MB mining district.

Minnova will provide further progress updates as internal studies and site work advances during the summer of 2021 and over the remainder of the year.

Notes 1: Nokomis NI 43-101 mineral resource estimate was prepared by Leon McGarry, B.Sc., P.Geo., of CSA Global Pty Ltd., and is contained in the Technical Report entitled Feasibility Study, PL Gold Project, Manitoba, Canada filed on SEDAR on May 4, 2018.

About Minnova Corp.

Minnova Corp. is an emerging Canadian gold producer focused on restarting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a Positive Feasibility Study in support of restarting the PL Mine at an average annual production rate of 46,493 ounces over a minimum 5 year mine life. The resource remains open to expansion and future surface exploration work programs will target resource expansion. The PL Gold Mine has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing processing plant, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon – Snow Lake Greenstone Belt of Central Manitoba.

Qualified Person

Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

For more information please contact:

Minnova Corp.
Gorden Glenn
President & Chief Executive Officer

For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca

Visit our website at www.minnovacorp.ca

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding the Company including management's assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Although Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Minnova does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

NOT FOR DISSEMINATION INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81026

MONTREAL , April 20, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce the signing of a diamond drilling contract with Synee Drilling Inc. to carry out a minimum of 2,500 metre, to commence this summer on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. The drilling program will test mainly gold exploration targets located outside the Cheechoo deposit as well as its extension at depth. This drilling will be carried out in addition to the recently announced 7,500 metre infill reverse circulation (RC) program.

The objective of this summer's reverse circulation drilling program will be to better define the Cheechoo deposit and subsequently initiate a new resource estimate update (starting in 2022). This update is expected to convert a significant amount of the inferred resources to indicated resources. Improving the classification of the project's gold resources will allow us to improve the market valuation of the Cheechoo deposit, as well as taking the project to a more advanced stage by completing a Preliminary Economic Assessment (PEA).

Increase in the trading volume of Sirios on the TSX-V

Sirios' management wishes to inform its shareholders that all activities of the company are proceeding normally and that there is no known reason for the recent increase in trading volume on the stock exchange. The high volumes could be related to the end of the escrowed period on the flow-through shares issued in the last financing of Sirios.

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng, President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo.

About Synee Drilling Inc.

Synee Drilling Inc., is a drilling services company owned 51% by Tawich Development Corporation (TDC) of Wemindji and 49% by Machines Roger International of Val-d’Or.

About the Cheechoo Property

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

About Sirios

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

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

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

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

VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) announces the detailed voting results of the proposals considered at its annual meeting of shareholders held on April 19, 2021 (the “Meeting”). A total of 18,265,547 or 54.17% of the Company’s issued and outstanding shares were represented at the Meeting.

Most critically, the Meeting included a proposal for shareholders to approve and adopt amended and restated articles of incorporation of the Company to increase the number of authorized shares of Silver Bull common stock from 37.5 million to 150.0 million and to make certain non-substantive amendments, which required the approval from a majority of the outstanding shares of Silver Bull common stock. The voting results were as follows:

As a majority of the outstanding shares of Silver Bull common stock was received in favour of the proposal, it was approved.

President and CEO, Tim Barry stated: “We would like to thank those shareholders who took the time to vote on this matter, which is vital to the future growth and advancement of the Company. We see great potential for the Company’s Sierra Mojada project, and with the ability to seek equity financing at Silver Bull, we will be focused on continuing its advancement.

“Additionally, we look forward to advancing the Beskauga project in Kazakhstan in our new subsidiary, Arras Minerals Corp., for which we recently completed a private placement financing, and are commencing a drill program in the coming months.”

In addition to the above-noted proposal, the following nominees, as listed in Silver Bull’s proxy statement, were re-elected as directors of the Company:

Silver Bull is also pleased to announce that the Company’s shareholders have ratified and approved the appointment of Smythe LLP, as the Company’s independent registered public accounting firm, for the fiscal year ending October 31, 2021 (18,080,515 or 98.98% voted “For”, 66,260 or 0.36% voted “Against” and 118,772 or 0.65% abstained from voting).

Finally, the Company’s shareholders voted to approve, on a non-binding advisory basis, the compensation of the Company’s named executive officers (12,538,304 or 92.65% voted “For”, 740,928 or 5.47% voted “Against”, and 253,020 or 1.86% abstained from voting).

Full details of the proposals are fully described in the Company’s definitive proxy statement filed on February 23, 2021 available on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.

About Silver Bull

Silver Bull is a Vancouver-based mineral exploration company whose shares are listed on the TSX and trade on the OTCQB in the United States. Silver Bull owns the Sierra Mojada Project which is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc. Sierra Mojada is currently under a joint venture option with South32 International Investment Holdings Pty Ltd. In addition, Silver Bull’s subsidiary, Arras Minerals Corp., holds an Option Agreement to acquire the Beskauga Copper-Gold Project, located in North Eastern Kazakhstan.

On behalf of the Board of Directors
“Tim Barry”

Tim Barry, CPAusIMM
Chief Executive Officer, President and Director

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

Cautionary note regarding forward looking statements: Certain statements in this news release are “forward-looking” within the meaning of applicable securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements include, but are not limited to, statements relating to the potential for the Company’s Sierra Mojada project, the ability to seek equity financing at Silver Bull, and the future advancement of the Company’s Sierra Mojada and Beskauga projects. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, market prices, metal prices, availability of capital and financing, general economic, market or business conditions, as well as other risk factors set out under the heading “Risk Factors” in the Annual Report on Form 10-K for the year ended October 31, 2020, which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Toronto, Ontario–(Newsfile Corp. – April 20, 2021) – US Copper Corp (TSXV: USCU) (FSE: C73) ("US Copper" or the "Company") is pleased to announce that its Form 211 application, filed with the governing U.S. securities regulator (FINRA), and its application to list its common shares on the OTC Venture Market (OTCQB) in the United States have been submitted. The company will provide further information once its common shares commence trading on the OTCQB, a U.S. based trading platform operated by the OTC Markets Group of New York.

US Copper's stock is currently traded on the OTC Pink Sheets under the symbol CWMZF. The OTCQB market is a premiere marketplace for early-stage and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for U.S. investors. Investors can find real-time quotes and market information for OTCQB-listed companies on the OTC Markets website.

The company believes that trading on the OTCQB market will enhance liquidity as well as increase the company's visibility in U.S. capital markets. US Copper continues to trade on the TSX Venture Exchange under its symbol USCU as well as on the BORSE in Frankfurt, Germany, under its symbol C73.

About US Copper Corp.

US Copper controls approximately 15 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits – Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.

The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.

The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on US Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 on both the company's website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp profile.

Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.

For Further Information Contact:

Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.

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

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81014

VACAVILLE, CA / ACCESSWIRE / April 20, 2021 / Athena Gold Corp. (OTCQB:AHNR) announced that it has engaged David Beling, P.E. as a Senior Strategic and Technical advisor. Throughout the past 56 years, Dave examined, significantly reviewed, or was directly involved with 90 underground mines, 136 open pit mines and 168 process plants around the world. He also developed, enhanced, and obtained financing for several mining companies, primarily in the precious and base metal sectors.

"Dave is a big addition to our technical team and over the last several months has evaluated our entire project database and helped design our 2021 exploration plans," said John Power, Athena's CEO. "I appreciate Dave's willingness to join our team and explore our flagship Excelsior Springs Gold Project located in the Walker Lane mineral trend in Nevada."

Dave has a successful track record both in Nevada and in the Walker Lane as the President & CEO of Bullfrog Gold Corp. for nine years (now known as Augusta Gold) as well as the General Manager of its Bullfrog Gold Project, a proposed open pit and 8,000-tpd heap leach operation near Beatty, Nevada. In October 2020 he completed the acquisition of all Barrick Gold's lands in the Bullfrog Mining District and concurrently closed a C$23 million private placement from the Augusta Group.

From 2004 through 2010 Dave was the Executive VP and COO of Geovic Mining Corp where he directed the environmental, geotechnical, metallurgical, and feasibility study contractors on a world-class cobalt-nickel project in Cameroon, Africa. He also discovered and developed a reductive acid-leach process that lowered risks, costs, and environmental impacts and drove the physical upgrading programs that nearly tripled the mill feed grades. In 2006 he spearheaded a TSX public listing and delivered the presentations at three road shows that raised C$112 million in Canada, UK, and US. He also performed and later directed investor relations that grew the market capitalization to US $460 million by mid-2007.

Dave's open-pit mine development and production experience in Nevada also included Sr. VP for Hycroft Resources, for five years where he completed construction and managed/directed operations of the 16,000-tpd Crofoot heap leach plant and two open pit gold mines. As a VP Operations for parent Granges Inc., he also served on the Technical Committee for Hudson Bay's 2,700-tpd Trout Lake Mine near Flin Flon, Manitoba.

Dave has also served as an interim CEO, acting VP operations, senior consultant, trouble-shooter and evaluator of numerous production operations, development projects, and acquisitions. Clients included Romarco Minerals, Dayton Mining, Manhattan Minerals, Eldorado Gold, Ivanhoe Mines, Rea Gold and NovaGold.

Dave is a 1964 Mining Engineering graduate from the University of Arizona and has been employed and/or consulted for Phelps Dodge, Union Oil, Fluor, United Technologies, Westinghouse, and 25 Canadian and US junior mining companies. He served on the Boards of 14 Canadian and US mining companies beginning in 1981 and continues to serve as a Director of NioCorp Developments Ltd.

About Athena Gold Corporation

Athena is focused on the exploration and development of precious metals in the Western United States.

The Company's flagship Excelsior Springs Project is located in Esmeralda County, Nevada in the prolific Walker-Lane tectonic zone, an area that has seen a recent resurgence with several important gold discoveries, new mines going into production and hosts a number of large historic gold mines. Total gold production from the Walker-Lane tectonic zone has exceeded 20 million ounces (Moz) including notable deposits by Goldfields (5 Moz), Bullfrog (2 Moz), Tonopah (2 Moz), Mineral Ridge (1.5 Moz) and Comstock (8 Moz Au, 200 Moz Ag). Readers are cautioned that the Company has no interest in or right to acquire any interest in any of the above mentioned properties, other than the Excelsior Springs Project, and that the mineral deposits, and the results of any mining thereof, on adjacent or similar properties are not indicative of mineral deposits on Excelsior Springs Project or any potential exploitation thereof.

From the mid-1980s through 2011, a number of exploration companies conducted drilling programs, primarily on the patented claims, that began to define the near-surface Buster Mine gold zone. Gold mineralization at the Property occurs within an east-west trending zone that is 200 to 400m wide and at least 3 km long.

Gold mineralization discovered at Excelsior Springs to date occurs in quartz vein stock-works and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best mineralization (grade and thickness) is found in altered sediments immediately above porphyry dykes that have intruded along existing east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them amenable to open pit mining methods.

Most historical exploration at Excelsior Springs has focused on a 2.5 km long section in the central part of the Buster zone where mineralization is at or near the surface. Surface mapping and an Induced Polarization (IP) geophysical survey conducted by Zonge International Inc. identified multiple zones of silicification that correlate well with the known mineralization. Many of the silicified zones defined by the IP (resistivity highs) surveys have not been tested by drilling and remain targets for future exploration.

An NI 43‐101 Technical Report dated September 28, 2010 entitled "Technical Report for the Excelsior Springs Property Esmeralda County, Nevada, U.S.A." prepared by Ken Brook, RPG, QP, was filed on SEDAR by Nubian for Excelsior Springs in 2010.

Athena's agreement with Nubian includes 100% of the 140 unpatented claims at Excelsior Springs with two additional patented claims held under a lease option that are subject to a 2% net smelter returns royalty on gold production. Under the terms of the Option Agreement, Nubian will retain a 1% net smelter returns royalty ("NSR Royalty") on the Excelsior Springs Project if Athena fully exercises the option. Athena will have the right to purchase 0.5% (being one half) of the NSR Royalty for CAD $500,000 and the remaining 0.5% of the NSR Royalty at fair market value.

Cautionary Statement to U.S. Investors

This press release references NI 43-101, which differs from the requirements of U.S. securities laws. NI 43‑101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

The United States Securities and Exchange Commission ("SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Pursuant to SEC Industry Guide 7 under the United States Securities Act of 1933, as amended, a "final" or "bankable" feasibility study is required to report reserves. Currently Athena has not delineated "reserves" on any of its properties. Athena cannot be certain that any deposits at its properties will ever be confirmed or converted into SEC Industry Guide 7 or any successor rule or regulation compliant "reserves". Investors are cautioned not to assume that any part or all of the historic Buster Mine gold zone will ever be confirmed or converted into reserves or that it can be economically or legally extracted.

The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. These amendments became effective February 25, 2019 and, on January 1, 2021, will replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7, which will be rescinded from and after such date.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the option to acquire the Excelsior Springs Project, the receipt of a new CUSIP number in connection with the Name Change, the approval of FINRA and OTC for the Shares to trade under the new name, the preparation of a technical report for the Excelsior Springs Project, the application to list the Shares on the CSE, anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including stock exchange approvals and approval for a new CUSIP number in connection with the Name Change, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors that are discussed in the Company's periodic filings with the SEC.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise required by law.

CONTACT:

John Power
President
707-291-6198

SOURCE: Athena Silver Corp.

View source version on accesswire.com:
https://www.accesswire.com/641242/Athena-Gold-Corporation-announces-David-Beling-PE-as-Senior-Technical-Advisor

For Immediate Release

Chicago, IL – April 20, 2021 – Today, Zacks Equity Research discusses Mining – Non-Ferrous, including Southern Copper Corporation SCCO, Freeport-McMoRan Inc. FCX and Kaz Minerals PLC KZMYY.

Link: https://www.zacks.com/commentary/1419682/3-non-ferrous-metal-mining-stocks-to-watch-in-a-prospering-industry

After bearing the brunt of weak demand last year primarily due to the COVID-19 pandemic, the Zacks Mining – Non Ferrous  industry has made a strong comeback aided by prospects of improving demand stemming from the ongoing global economic recovery.

Miners including Southern Copper Corp, Freeport-McMoRan and Kaz Minerals are poised well to capitalize on this trend. Their concerted efforts to control costs and invest in technology will increase efficiency, thereby bolstering margins.

About the Industry

The Zacks Mining – Non Ferrous industry comprises companies that produce non-ferrous metals, including copper, gold, silver, cobalt, molybdenum, zinc, aluminum and uranium. These metals are utilized by a wide array of industries that include aerospace, automotive, packaging, construction, industrial machinery, electronics, transportation, jewelry, chemical, and nuclear energy.

What’s Shaping the Future of Mining-Non Ferrous industry

Prospects of Higher Demand Stemming From Global Economic Recovery: The coronavirus pandemic had impacted non-ferrous metal prices last year barring gold, which gained on the back of its safe-haven demand. Also, miners had to curtail or stop production to adhere to restrictions imposed by various governments to stem the spread of COVID-19.

Slowdown in industrial activity severely impacted demand for industrial metals like copper and silver. However, commodity prices have since turned around, courtesy of improving industrial activity globally, rollout of vaccines, optimism regarding a strong US economic growth and robust demand from China. Further, President Biden’s plan to spend $2 trillion to overhaul and upgrade the nation’s infrastructure and promote green policies will require huge amount of non-ferrous metals.

Cost Control & Innovation to Increase Efficiency: The industry has been facing a shortage of skilled workforce, which has led to a spike in wages. Moreover, labor-related disputes can be damaging to production and revenues. Since the industry cannot control the prices of its products, it focuses on improving sales volume, operating cash flow and lowering unit net cash costs.

The industry participants are also opting for alternative energy sources in order to minimize fuel-price volatility and secure supply. Miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies.

Impending Demand and Supply Imbalance: The industry players are currently dealing with depleting resources, declining supply in old mines and lack of new mines. Development projects are inherently risky and capital intensive. Demand for non-ferrous metals will remain high in the future given their wide usage in primary sectors including transportation, electricity, construction, telecommunication, energy, information technology and materials.

While demand remains strong, there will be an eventual deficit in metal supply leading to a situation that will bolster metal prices. This, in turn, will favor the industry in the long haul.

Zacks Industry Rank Indicates Bright Prospects

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects in the near term. The Zacks Mining – Non Ferrous industry, which is a nine stock group within the broader Zacks Basic Materials Sector, currently carries a Zacks Industry Rank #98, which places it at the top 39% of 256 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually losing confidence in this group’s earnings growth potential. Since the beginning of this year, the industry’s earnings estimate for the current year has gone up 87%.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.

Industry Versus Broader Market

The Zacks Mining- Non Ferrous Industry has outperformed the Zacks S&P 500 composite and its own sector over the past year. The stocks in this industry have collectively soared 219.6% in the past year compared with the S&P 500’s and its sector’s rally of 78.1% and 51.2%, respectively.

Industry’s Current Valuation

On the basis of forward 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing Mining- Non Ferrous stocks, we see that the industry is currently trading at 6.98X compared with the S&P 500’s 15.80X. The Basic Materials sector’s forward 12-month EV/EBITDA is at 29.38X.

Over the last five years, the industry has traded as high as 8.88X and as low as 4.80X, with the median being at 6.47X.

3 Mining-Non Ferrous Stocks to Keep an Eye On

Southern Copper: This Phoenix, AZ based company engages in mining, exploring, smelting, and refining copper and other minerals.

The company has the largest copper reserves in the industry and operates high-quality, world-class assets. Its constant focus on increasing low-cost production is commendable. The company will benefit from its efforts to grow in Peru given that the country is currently the second largest producer of copper globally and holds 13% of the world’s copper reserves.

It is worth mentioning that Peru’s national output is expected to grow to 225000 tons in 2022 and 245000 tons in 2023. Notably, Southern Copper’s total investment program in Peru runs to $7.9 billion. The recent rally in copper and silver prices bode well for the company.

The Zacks Consensus Estimate for the company’s earnings in 2021 suggests year-over-year growth of 66%. The estimate has moved up 20% in 90 days’ time. It has a long-term estimated earnings growth rate of 17.8%. The company’s shares have gained 54.6% in the past six months. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

Kaz Minerals: This U.K.-based company and its subsidiaries engage in mining and processing copper and other metals (gold, silver, zinc) primarily in Kazakhstan and Kyrgyzstan.

The company is well positioned to grow on the back of its large scale, low cost open copper pit mines. Its constant focus on applying modern technology to develop deposits has helped build a portfolio of highly profitable mines with low operating costs. The Aktogay expansion project carrying a total budget of $1.2 billion is expected to commence production in late 2021.

It is anticipated to boost the company’s copper production by 80,000 tons in the 2022-2027 time period and 60,000 tons thereafter. The bankable feasibility study for the Baimskaya copper project is expected to be completed in the first half of 2021. Baimskaya is one of the world’s largest undeveloped copper resources with the potential to be a large scale, low cost open pit copper mine.

The Zacks Consensus Estimate for the company’s earnings for the current fiscal year has moved up 8% over the past 90 days. Its shares have appreciated 58.4% over the past six months. The stock carries a Zacks Rank #2 (Buy).

Freeport-McMoRan: This Phoenix, AZ-based company is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; and smelting and refining of copper concentrates.

Freeport is conducting exploration activities near existing mines with a focus on opportunities to expand reserves. The company will benefit from the ongoing large-scale concentrator expansion project at Cerro Verde that will provide incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum.

It recently completed the Lone Star copper leach project and is on track to produce around 200 million pounds of copper annually. The company's effective cost management and efforts to reduce debt levels appear encouraging. Higher copper prices will also drive results.

The Zacks Consensus Estimate for earnings for fiscal 2021 indicates year-over-year improvement of 391%. The estimate has been revised upward by 22% over the past 90 days. Shares of the company, which carries a Zacks Rank #3 (Hold), has soared 116.5% over the past six months. The company has a long-term estimated earnings growth rate of 26.5%.

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

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VANCOUVER, BC / ACCESSWIRE / April 20, 2021 / Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSX.V:HTR) today announces that it has completed the name change to "Blackwolf Copper and Gold Ltd" with trading under the new name on the TSX Venture Exchange will commence at the opening of trading on April 22, 2021 under the new symbol (TSX.V:BWCG) Trading in the United States will continue under (OTC PINK:HTRRF).

"Our name change to Blackwolf Copper and Gold better reflects the Company's Spirit and Vision, particularly with consultation and inclusion with Indigenous People," said Rob McLeod, President & CEO of Blackwolf Copper and Gold. "Growing up in the Pacific Northwest on the border of Alaska and British Columbia, I was fascinated with the distinct wolf packs that were either traditional grey, or with dominantly black fur. We see Blackwolf as a symbol for the strength, inclusion and loyalty within our own pack of mining professionals and the transboundary nature of our business strategy."

Shareholders are not required to exchange their existing share certificates for new certificates bearing the Company's new name and the name change does not affect the Company's share structure or the rights of the Company's shareholders. No further action is required by existing shareholders.

In addition, the Company announces that it has granted to an officer, employees and consultants of the Company stock options (the "Options") exercisable to acquire up to a total of 280,000 common shares in accordance with the Company's Stock Option Plan. The Options have an exercise price of $1.00, which will vest ¼ in 3 months from the date of grant, ¼ after 12, 24 and 36 months, respectively, from the date of grant and have a 5-year term in accordance with the Stock Option Plan.

About Blackwolf Copper and Gold

Blackwolf Copper and Gold Ltd.'s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. For more information on Blackwolf, please visit the Company's website at www.blackwolfcopperandgold.com.

On behalf of the Board of Directors

"Robert McLeod"
Robert McLeod, P.Geo
President, CEO and Director

For more information, contact:

Rob McLeod
604-617-0616 (Mobile)
604-343-2997 (Office)
rm@bwcg.ca

Liam Morrison
604-897-9952 (Mobile)
04-343-2997 (Office)
lm@bwcg.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.

Cautionary Note Regarding Forward-Looking Statements:

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release.Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; and changes in the Company's business plans.In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

The Company's "Mineral Resource Estimate" refers to a November 2011 NI 43-101 Report authored by SRK Consulting Independent of the Company and Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., a Qualified Person who was not independent of the Company. Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1,150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag. Detailed engineering studies will determine the best cutoff.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

SOURCE: Heatherdale Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/641277/Heatherdale-Resources-Announces-Name-Change-to-Blackwolf-Copper-and-Gold-Ltd-Stock-Symbol-Change-and-Grants-Stock-Options

VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to announce that the Desk Top Conceptual Study (“Study”) that is being conducted by Ausenco is advancing well. The mandate of the study is to identify opportunities for Cañariaco Norte to be built as a smaller higher grade project with a lower initial capital expenditure (“CapEx”) and accelerated payback period.

In addition to seeking a higher copper grade for the starter pit, we are investigating other opportunities to lower the CapEx and operational expenditures (“OpEx”) and consider better environmental, social and governance (“ESG”) practices. All of the Desk Top work considers the potential for expansion into a larger project over time.

“While the work has taken up more time than we initially anticipated, the opportunities already identified by Ausenco to improve the project are well worth the wait.” says Joanne Freeze, President and CEO. “A more comprehensive Desk Top Study will allow the Company to follow it with a preliminary economic assessment (“PEA”) on the best possible project and we are already seeing detailed optimizations that should make substantial improvements to the project”.

Work to date has focused on:

1. Geometallurgical modelling which identifies both a wider range of metal contents in the different rock types and a wider range of metal recoveries to concentrate from the various rock types. Combining these two aspects allows the forecast of concentrate quality followed by production that offers more flexibility and the ability to plan mine scheduling to optimize project value.

2. The identification of current markets for our unique copper concentrate which indicate higher potential revenues due to a decrease in treatment costs.

For more details about the Study, please see News Release No. 127 (dated February 25^th, 2021): https://www.candentecopper.com/news-releases/news-releases/2021/ausenco-engaged-for-desk-top-studies-on-canariaco-norte-higher-grade-project.

Ausenco has a 30-year track record and is recognised as specialists in end-to-end solutions which are proven to lower capital and operating costs, reduce construction time and improve plant efficiencies. They perform consulting studies, project delivery, and asset operations to the international mining sector including high performance copper processing and infrastructure projects. Project experience ranges from small conceptual studies for new developments through to the construction of large scale minerals processing facilities.

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

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

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

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

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

On behalf of the Board of Candente Copper Corp.

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

info@candentecopper.com
www.candentecopper.com

NR-129

Two of Australia's largest lithium producers are merging to cash in on the boom in demand for the metal due to its use in electric vehicle batteries.

Australian lithium giant Orocobre is buying its rival Galaxy Resources for A$1.78bn (£997m) to create a major global player as lithium prices climb.

The combined group will have a market capitalisation of A$4bn, making it the fifth most valuable lithium player in the world behind giants such as Ganfeng Lithium and Albermarle.

The two companies produce about 40,000 tonnes of lithium but have expansion plans putting them on course to produce 130,000 tonnes combined, from assets in Australia, Argentina, Canada and Japan.

"It's overwhelmingly positive," said Reg Spencer, of broker Canaccord Genuity. "On a high level, you have got significant synergies with both businesses having an Argentina base."

Analysts predict a deficit in lithium supplies from 2027 as economies start phasing out petrol and diesel engines to make way for electric alternatives.

The UK is among countries planning to ban the sale of new petrol and diesel cars, while post-pandemic stimulus money is also accelerating the shift by helping to expand charging points, for example.

Martin Pérez, Orocobre's chief executive, said the merger would provide "significant operational, technical and financial flexibility to deliver the full value of our combined portfolio".

Simon Hay, chief executive of Galaxy, added: "The merger represents an exciting opportunity to consolidate and realise the full potential of our asset portfolios and technical capabilities."

Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share. Orocobre shareholders will own 54.2pc of the combined entity and Galaxy shareholders will own the remaining 45.8pc.

Separately, nickel and palladium producer Nornickel has struck a deal to supply Johnson Matthey with materials needed for battery production in Finland.

Moscow-based Nornickel plans to increase production of nickel and cobalt from its refinery in Finland as demand from electric vehicle battery makers in the UK grows.

Robert MacLeod, chief executive of Johnson Matthey, said securing the long-term supply of nickel and cobalt with Nornickel was "an important milestone".

TORONTO, April 19, 2021 /CNW/ – Guy Outen, Chair of the Board and Craig Nicol, Managing Director, Chief Executive Officer and Founder, Graphene Manufacturing Group Ltd. ("GMG" or the "Company") (TSXV: GMG), and their team joined Arne Gulstene, Head, Company Services, TMX Group, to celebrate the Company's new listing on TSX Venture Exchange and close the market.

GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By use of the Company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

SOURCE TSX Venture Exchange

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/19/c2416.html

Unfortunately, investing is risky – companies can and do go bankrupt. But if you pick the right business to buy shares in, you can make more than you can lose. For example, the Metals X Limited (ASX:MLX) share price has soared 188% return in just a single year. Also pleasing for shareholders was the 70% gain in the last three months. On the other hand, longer term shareholders have had a tougher run, with the stock falling 73% in three years.

See our latest analysis for Metals X

Because Metals X made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually expect strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.

In the last year Metals X saw its revenue grow by 3.2%. That's not a very high growth rate considering it doesn't make profits. In contrast, the share price took off during the year, gaining 188%. We're happy that investors have made money, though we wonder if the increase will be sustained. We're not so sure that revenue growth is driving the market optimism about the stock.

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.

A Different Perspective

It's good to see that Metals X has rewarded shareholders with a total shareholder return of 188% in the last twelve months. Notably the five-year annualised TSR loss of 9% per year compares very unfavourably with the recent share price performance. This makes us a little wary, but the business might have turned around its fortunes. It's always interesting to track share price performance over the longer term. But to understand Metals X better, we need to consider many other factors. Even so, be aware that Metals X is showing 2 warning signs in our investment analysis , you should know about…

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.

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

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

KELOWNA, BC, April 19, 2021 /CNW/ – Metalex Ventures Ltd. (TSXV: MTX) (the "Company") is pleased to report that exceptionally anomalous amounts of ilmenite as well as highly anomalous scandium analyses of ilmenite-rich concentrates have been received for 22 of the 24 heavy mineral samples tested and collected on its 100% owned gold-scandium claims located 100km southeast of Chibougamau, Quebec.

These results are consistent with the claims being underlain by an extensive massive ilmenite horizon highly anomalous in scandium. Rio Tinto are presently mining an extensive massive ilmenite horizon near Allard Lake, Quebec. The ilmenite ore is railed 42km and then shipped about 900km along the St. Lawrence River to their Fer et Titane metallurgical complex near Montreal where titanium oxide, iron, steel and metal powders are recovered from the ilmenite ore. A plant to recover scandium from the ilmenite tailings is presently being constructed that is expected to produce 20% of the global scandium supply. Scandium is used primarily in the aerospace, automotive, military and 3D printing industries.

The Metalex claims are located adjacent to Highway 167, 520 kilometres by road from the Rio Tinto metallurgical complex.

Table 1, below, presents the results from the 0.25mm to 0.5mm sized heavy (> 3.27 specific gravity), weakly magnetic, conductive concentrate recovered from the sample. This concentrate should contain the vast majority of the ilmenite grains of this size fraction. For each sample, a representative split of the concentrate was picked, with the number of ilmenites within the sample extrapolated from this. The table contains the number of ilmenites (normalized to a 10kg sample size) along with the scandium content of the concentrate as determined by neutron activation analysis at Activation Laboratories.

Table 1. Ilmenite counts and scandium content of the 0.25mm to 0.5mm heavy, weakly magnetic, conductive concentrate.

According to Alexandsandrovsky et al., Ores and Metals Publishers, Moscow, 2004, about 2 million tons per year of ilmenite containing 10 to 20ppm scandium yields about 20 to 40 tons of scandium oxide. As seen in the table above, the ilmenite rich concentrates exceed these global ppm values.

Upon review of the Company's proprietary 8,698 regional heavy mineral samples database covering central Quebec ten samples were selected that also yielded anomalous scandium in the -0.25mm sized heavy, non-magnetic concentrates of these +/- 10kg samples. 0.25mm to 0.5mm, weakly magnetic, conductive concentrates (which would contain the bulk of the ilmenite grains) were prepared. Picking at CF Minerals using a binocular microscope of a portion of each concentrate yielded abundant ilmenites from seven of ten samples. These concentrates have also been submitted for neutron activation analysis for scandium and 33 other elements. Metalex awaits these results to see whether other areas in Quebec could also host scandium rich ilmenite.

Metalex directors are optimistic that an extensive ilmenite-rich body high in scandium will be discovered within the claims. A combined magnetic-electromagnetic survey is expected to commence over the claims within the next month which should provide drill targets.

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

Signed,

Charles Fipke

Charles Fipke
Chairman

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration and financing results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. In particular there is no assurance that the Offering detailed herein will complete in full or at all. Metalex undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

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

SOURCE Metalex Ventures Ltd.

View original content: http://www.newswire.ca/en/releases/archive/April2021/19/c6116.html

SUDBURY, ON / ACCESSWIRE / April 19, 2021 / Northern Superior Resources ("Northern Superior" or the "Company") (TSXV:SUP)(OCTQB:NSUPF) is pleased to announce that it has expanded its previously announced 10,000 meter ("m") core drill program on its 100% owned Lac Surprise property (see Northern Superior press release, March 15, 2021). The expanded Phase II drill program has been increased to a minimum of 13,000m, and will consist of two stages.

Stage 1, expanded to 8,000m, is designed to better define and expand the newly discovered Falcon Gold Zone, believed to be the western extension of the neighboring IAMGold/Vanstar's Nelligan gold deposit located approximately 2.4 kilometers ("km") to the east with an inferred resource* of 3.2 million ounces at 1.02 g/t gold ("Au") (see Figure 1).

Stage 2, consisting of approximately 5,000m, is designed to test three early-stage gold targets west of Target 1; Target 3; the Fox Gold showing and the Confluence Area (see Figure 2).

Stage 1: Target 1, Better Defining the Falcon Gold Zone

Based on the progress of the drill program to date the board has approved an expansion of the Stage 1 drill program on the Falcon Zone to 27 holes over 8,000m from its prior 16 holes over 5,000m. Eight holes (2,591m) of the now expanded 8,000m Stage 1 program have been completed. Five of the first eight holes have been processed with 1,134 samples submitted for assays, with material from another two holes expected to be delivered to the lab by the end of next week. These first eight holes cover a strike length of 450m from the property boundary near the first discovery hole of the Falcon Gold Zone (LCS20-13, 1.07 g/t gold equivalent ("AuEq")** over 35.5m with a high-grade interval of 8.22 g/t AuEq over 2.6m) to 150m west of the second discovery hole (LCS19-005ext., 1.55 g/t AuEq over 44.9m, including 3.82 g/t AuEq over 15m). Although most of these holes are relatively shallow (~250m), one deep hole has been completed (375m) while a second deep hole of (350m) is in progress currently. The expanded 27 hole program will test a potential strike length of approximately 900m.

Dr. T.F. Morris, President and CEO states: "We are very pleased with the drill progress made to date at Target 1, having learned much about the Falcon Gold Zone from the Fall 2020 drill program we have been able to apply this knowledge to the current program. The expanded Phase II drill program of 13,000 meters will allow us to fully define the full potential of this exciting new discovery for our shareholders.

We are also very excited to share details of our plans for Stage 2 of this program, having completed a thorough evaluation of highly prospective targets at Target 3, the Fox Gold Zone and the Confluence Area. In addition, initiating a drone magnetic survey over the central part of the property will provide high quality magnetic data, the same type of magnetic data used to assist in discovering the Falcon Gold Zone at Target 1 and defining the geophysical parameters associated with Target 3. This data will go a long way to refining drill targets in the Confluence area and the area directly to the south and west.

We look forward to sharing the progress and the results of these various initiatives on the Lac Surprise property as assays become available."

Stage 2: Target 3, Falcon Showing and the Confluence Area

Target 3

Target 3 is a compelling, large geophysical target located 7km west of the Nelligan gold deposit (see Figure 2). The geophysical signature of this target consists of a number of similarities to the Nelligan geophysical signature that led to the discovery of the Falcon Gold Zone. The geophysical attributes include:

• A large, deeply rooted intrusion;

• Associated with 60° faults; and

• Associated large areas magnetic lows suggesting areas of silicification and alteration leading to magnetic destruction. There are three such large areas identified to the southeast (~4.0 x 1.0kms), northeast (~2.0 x 2.0kms) and northwest (~1.0km x 1.0km) of the proposed intrusion (Figure 3).

Our Initial Drilling on Target 3 will focus on the largest target to the southeast (4.0 x 1.0 kms) and will be tested with 3 core drill holes, each 400m long.

Fox Gold Showing

The Fox gold showing is located along the southwest part of the southeast area of Target 3. Unlike the targets associated with Target 3, the Fox showing is associated with a high magnetic signature suggesting an association with a more iron-rich environment. Gold-bearing material associated with this showing was collected from two channel samples (up to 6.76 g/t Au over 1.0m: Fox North showing; up to 2.95 g/t Au over 1.0m: Fox Showing) and grab samples from SOQUEM trenches (up to 900 ppb Au; ref. GM49908)(see Figure 4).

Four drill holes for a total of approximately 1,000m is currently proposed to test this target.

Confluence Area

The Confluence is an area where two prominent deformation zones converge (Remick and Doda: the "Confluence Area"; see Figure 2). This area contains a prominent gold grain dispersal train (maximum 49 gold grains, 10 kilogram ("kg") till sample). A 10kg stream sediment sample just west and at the intersection of two faults yielded 107 gold grains. This area also has a gold showing with a grab sample that assayed 1.35 g/t Au.

To test the prospectivity for gold mineralization in this area, three targets were selected based on a careful evaluation of the Company's Induced Polarization geophysical data, distribution of gold grain data and historical drilling (see Figure 5).

These targets will be tested with 5 drill holes, each 300m in length.

Drone Magnetic Survey

Northern Superior is also pleased to announce that it has initiated a 954 line-kilometer, 50m spaced, drone magnetic survey over the central part of the property (see Figure 6). The geophysical product derived from this program will be the same high-quality data used to identify the geophysical properties associated with the Falcon Gold Zone discovered in Target Area 1 and the geophysical properties associated with Target 3. The data will also be used to refine targets in the Confluence Area and the area to the south and southwest of the Confluence Area.

* Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."

** Gold equivalent grades calculated based on a 75 Au:Ag factor ratio.

Qualified Person

Michel Leblanc (P.Geo.) is a Qualified Person ("QP") within the meaning of National Instrument 43-101. Mr. Leblanc has reviewed, and approved information disclosed in this press release. Michael Leblanc, who is also a Qualified Person ("QP") will be overseeing the core drill program.

Note to readers: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

About Northern Superior Resources Inc.

The Lac Surprise gold property is one of three key mineral properties 100% owned by Northern Superior Resources. The other two properties (TPK and Croteau Est) also represent regional scale exploration opportunities (see Northern Superior Corporate Presentation, www.nsuperior.com).

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP, and the OTCQB Venture Market under the symbol NSUPF.

For Further Information

Please refer to Northern Superior news available on the Company's website (www.nsuperior.com) and on SEDAR (www.sedar.com) or contact:

Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com

Cautionary Note Regarding Forward-Looking Statements

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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.

Figure 1: Phase II Stage I core drill plan, Target Area 1.

Figure 2: Location of Target 3, the Fox Showing and the Confluence area.

Figure 3: Target Area 3, surface expression. Note the three deep blue areas representing the large areas of potential alteration zones in addition to the large intrusive complex (potential heat source) and structural environment.

Figure 4: Geophysical signature and gold showings associated with the Fox Gold Showing.

Figure 5. Three target areas to be tested associated with the Confluence Area, drill collars and traces. Each drill hole will be ~300m long.

Figure 6. Areas covered by the ongoing Drone magnetic survey, total of 954km of flight lines at 50m spacing. Data will be the same high-quality data derived from the drone survey completed in 2019 used to help define the Falcon Gold Zone, target Area 1 and the geophysical properties associated with target Area 3. Same data will also refine targeting in the Confluence Area and the area to the south and south west.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/640777/Northern-Superior-Announces-Progress-Update-and-Expansion-of-Phase-II-Drill-Program-at-Lac-Surprise-to-a-Minimum-of-13000-Meters

Vancouver, British Columbia–(Newsfile Corp. – April 19, 2021) – International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC") is pleased to announce that the Company has completed a maiden diamond drilling program on the Raleigh Lake Lithium project near Ignace, Ontario, Canada. A total of 1,504 metres of NQ core drilling were completed in eight holes to test the continuity of spodumene bearing pegmatites and their associated lithium, tantalum and cesium mineralization down dip and along strike from outcrop and previous operators' drilling.

The royalty-free, 100-percent-owned Raleigh Lake project comprising a total of 3,027 hectares hosts a number of outcropping pegmatite bodies. The recent drilling focused on what the Company now refers to as Zone 1 (Figure 1), an area of approximately one square kilometre (100 hectares) that hosts Pegmatites 1 and 3. The two shallow dipping pegmatite dykes have been mapped at surface with Pegmatite 1 exposed along strike for at least 300 metres and intersected 400 metres downdip by drilling conducted prior to ILC's drilling campaign. Seven of ILC's eight widely dispersed holes, covering an area approximately 600 x 300 metres, intersected pegmatite.

The core has been logged and cut with samples submitted for chemical analysis. Assay results are expected by mid-May.

Logistics of the drill program were excellent as the project is road accessible and is just a short distance from the Trans-Canada Highway. The Raleigh project is located less than 20 kilometres directly west of the Township of Ignace, Ontario. It distinguishes itself from other lithium projects in Canada by being very well situated near to major public infrastructure; the Trans-Canada Highway, with direct access to Thunder Bay on Lake Superior, is less than six kilometres north of the project as is the mainline of the Canadian Pacific Railway, natural gas pipelines, and the hydro power line junction at Raleigh Lake. By having relatively easy access to public services coupled with no need to spend significant sums of money on building new roads or electric power lines to service the site nor buildings to house contractors, the Raleigh project posesses a substantial advantage over more remote mining projects.

With the drilling taking place exclusively in Zone 1, which is within one kilometre of the historic drilling, there are no results yet for Zones 2 to 5. These additional zones include claims acquired by ILC in 2016 and 2018 and include some with surface pegmatite exposures. ILC intends to carry out wider drilling in various phases on Zones 2 to 5 as targets are prioritized in these areas.

John Wisbey, Chairman and CEO of International Lithium Corp. commented "This was an encouraging drilling program for ILC with what appear to be good and solid results in Raleigh Lake Zone 1 that build significantly on our confidence of the project's potential. If the chemical analysis received over the next few weeks is favourable, that may well be sufficient to warrant follow-up with some preliminary economic analyses prior to further drilling in Zone 1. The board also believes that investment in further drilling in Zones 2 to 5 is highly warranted and remains hopeful, based on earlier geological analysis, that it could deliver even greater potential than we are defining at Zone 1."

Quality assurance/quality control procedures

International Lithium Corp. has implemented a rigorous quality assurance/quality control program to ensure best practices in sampling and analysis of diamond drill core. All assays are performed by Activation Laboratories Ltd. (ActLabs), with sample preparation and analysis carried out in their full-service facility in Dryden, Ontario. Sample preparation involves crushing the entire sample to 80% passing 2 mm, riffle split 250g and pulverize to 95% passing 105 µm.

Primary analysis method: Peroxide (Total) Fusion, ICP-OES & ICP-MS with 55 elements including Li (3ppm – 5%). Sodium peroxide fusion provides total metal recovery and is effective for the decomposition of sulphides and refractory minerals.

Over limit analysis method: If Li >5%, then re-analyse by Assay Grade, Peroxide (Total) Fusion, including Li from 0.01%.

The drill program was under the control of a Professional Geoscientist, registered with The Association of Engineers and Geoscisntists of the Province of British Columbia.The Company and its contractors carried out the program under full compliance with COVID-19 protocols based on guidelines issued by the Provincial Health Officer (PHO) of British Columbia to ensure the safety and health, for all personnel.

Qualified person

Patrick McLaughlin, P.Geo, a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects has reviewed and approved the technical information in this press release.

Figure 1: Total magnetic intensity image over the mineral claim outline divided into five Zones for various staged exploration activities at the Raleigh Lake Lithium project.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3232/80715_8c2d9e82c48ab894_003full.jpg

About International Lithium Corp.

International Lithium Corp. believes that the '20s will be the decade of battery metals, at a time that the world faces a major turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. Our key mission in the new decade is to make money for our shareholders from lithium and battery metals while at the same time helping to create a greener, cleaner planet. This includes optimizing the value of our existing projects in Canada, Argentina and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits. In addition, we have seen the clear and growing wish by the USA and Canada to safeguard their supplies of critical battery metals, and our Canadian properties are strategic in that respect.

A key goal in the new decade is to become a well funded company to turn our aspirations into reality.

International Lithium Corp. has a significant portfolio of projects, strong management, and strong partners. Partners include Ganfeng Lithium Co. Ltd., ("Ganfeng Lithium") a leading China-based lithium product manufacturer quoted on the Shenzhen and Hong Kong stock exchanges (A share code: 002460, H share code: 1772) and Essential Metals Limited, quoted on the Australian Stock exchange.

The Company's primary strategic focus is now on the Mariana project in Argentina and on the Raleigh Lake project in Canada.

The Company has a strategic stake in the Mariana lithium-potash brine project located within the renowned South American "Lithium Belt" that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres, that ranks as one of the more prospective salars or 'salt lakes' in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, now owned 89.0% by Ganfeng Lithium and 11.0% by ILC (percentages are estimates and subject to audit). In addition, ILC has an option to acquire a further 10% in the Mariana project through a back-in right.

The Raleigh Lake project, now consisting of 3,027 hectares of adjoining mineral claims in Ontario, is regarded by ILC management as ILC's most significant project in Canada. It is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.

Complementing the Company's lithium brine project at Mariana and rare metal pegmatite property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in Ireland, which encompasses an extensive 50-km-long pegmatite belt.

The ownership of the Mavis Lake project is now 51% Essential Metals Limited and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. ESS has an option to earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration activities, at which time the ownership will be 80% ESS and 20% ILC.

The Forgan Lake project will, upon Ultra Resources Inc. meeting its contractual requirements pursuant to its agreement with ILC, become 100% owned by Ultra Resources, and ILC will retain a 1.5% NSR on Forgan Lake.

The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $10 million expenditures on exploration activities or delivering a positive feasibility study on the project, at which time the ownership will be 79% Ganfeng Lithium and 21% ILC.

With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a "green tech" sustainable economy. By positioning itself with solid strategic partners and projects with significant resource potential, ILC aims to be one of the lithium and battery metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.

On behalf of the Company,

John Wisbey
Chairman and CEO

www.internationallithium.com

For further information concerning this news release please contact +1 604-449-6520

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

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of the preliminary economic assessment of the Mariana Joint Venture Project, timing of publication of the PEA technical report, anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Mavis Lake projects, the expectation of feasibility studies, lithium recoveries, modeling of capital and operating costs, results of studies utilizing membrane technology at the Mariana Project, budgeted expenditures and planned exploration work on the Avalonia Joint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake, satisfactory completion of the purchase of additional mineral rights at Raleigh Lake, increased value of shareholder investments, and continued agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the Company's percentage interest in the Mariana project. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80715

Figure 1

Grace Shear Zone with the 2017 RPX Diamond Drilling intercept and the War Eagle Showing

Figure 2

Location of the War Eagle Claims

TORONTO, April 19, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that it has entered into a definitive property purchase agreement with 2533258 ONTARIO CORP. (the “Vendor”), dated April 16^th, 2021 to acquire 100% interest in additional mining claims located in the McMurray Township, Michipicoten region of Ontario. This acquisition aligns with the Company’s strategy of consolidation of the Wawa Gold Project land package.

The acquisition of these properties, covering a total area of 50.2 hectares located East of Mountain Lake, is an integral part of Red Pine’s exploration strategy to increase the Company’s interests and developments in the region. Red Pine is pleased to secure this claim block surrounded by and adjacent to the Company’s flagship 100% owned Wawa Gold Project. The acquisition remains subject the receipt of TSX Venture Exchange approval.

Quentin Yarie, President and CEO of Red Pine, stated, “We are excited with the successful acquisition of these strategically located claims with gold showings exhibiting similar characteristics to our highly prospective Grace Darwin structures. Grace Darwin is a high priority, high grade exploration target planned for drilling in 2021.”

These additional properties sit on the projected Southern extension of the Grace Shear Zone in which intermittent historic mining between 1901 and 1944 in the Darwin-Grace Mine produced 17,634 ounces of gold at 13.27 g/t. Of the newly acquired claims, significant gold mineralization is known to occur at the War Eagle showing located along the strike of the projected southern extension of the Grace Shear Zone (see Figure 1). The best historic channel samples taken at the showing contained 15.43 g/t Au over 0.82 metre, and grab samples contained up to 16.32 g/t gold (Simson, W.E., Synopsis of Report on the Grace Mine, October 1, 1924). The reader is cautioned that the qualified person has not done sufficient work to independently verify the reported historic results, and that grab samples are selective by nature and may not represent the true grade or style of gold mineralization.

Figure 1: Grace Shear Zone with the 2017 RPX Diamond Drilling intercept and the War Eagle Showing is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/aa5f3771-38fc-4224-a5be-0c9cf0fcfc34

Previous Red Pine drilling conducted in 2017 in the Grace Shear Zone confirmed that high-grade gold mineralization extends beyond the known footprints of the Darwin-Grace mine and defined the Grace Shear Zone as a significant exploration target of the Wawa Gold Project (see Red Pine’s news release of March 3, 2017 for drilling results in the Grace Shear Zone and Figure 1). Notable results from Red Pine’s 2017 drilling are 57.31 g/t gold over 3.14 metres.

Pursuant to this agreement, Red Pine will purchase from 2533258 ONTARIO CORP. all the rights, titles and interests in and to the mineral properties located in the Sault Ste. Marie Mining Division, for a sale price of CAD$240,000 in cash and the issuance of 83,000 common shares at closing. The common shares issued in connection with the purchase agreement are subject to a standard 4 month hold period.

The description of mineral properties subject to this agreement are noted below and displayed in Figure 2:

1. PIN: 31169-0293 (MLAS ID: PAT-775): PCL 1785 SEC AWS; MINING CLAIM SSM3492 MCMURRAY; MICHIPICOTEN

2. PIN: 31169-0302 (MLAS ID: PAT-776 and PAT-777): PCL 1833 SEC AWS; MINING CLAIM SSM3809 MCMURRAY; MINING CLAIM SSM3810 MCMURRAY; MICHIPICOTEN

Figure 2: Location of the War Eagle Claims is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0e297e02-194d-42e9-8511-eadad2c98509

The information is not necessarily indicative of the mineralization on the property. The Company will need to conduct an exploration program to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts.

Qualified Person

Quentin Yarie, P.Geo. and Chief Executive Officer of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the news release’s technical information.

COVID-19 Precautions

Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure our employees’ and contractors’ safety, thereby reducing the potential for community contact and spreading of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

For more information about the Company, visit www.redpineexp.com

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or Tara Asfour, Investor Relations Manager, (514) 833-1957 tasfour@redpineexp.com

¹National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019

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 contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Merger creates the 5^th largest global lithium chemicals company with a diversified production base and exciting growth platform, with potential to unlock significant synergies and realise value to be shared by all shareholders.

BRISBANE, Australia, April 19, 2021 (GLOBE NEWSWIRE) — Orocobre Limited (ASX:ORE, TSX:ORL) (Orocobre) and Galaxy Resources Limited (ASX:GXY) (Galaxy) are pleased to announce that they have entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy.

Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%.

The Scheme is unanimously recommended by the Board of Galaxy and each Galaxy Director intends to vote all the shares that they hold in Galaxy in favour of the Scheme (in both cases, subject to no superior proposal emerging and the Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Galaxy shareholders).

The Scheme is endorsed and supported by the Board of Orocobre, subject to no proposal for Orocobre emerging.

As part of the proposed Scheme, Martin Rowley would become Non-Executive Chairman, Robert Hubbard would become Deputy Chairman, and Martín Pérez de Solay would remain CEO and Managing Director of the group, with a highly experienced and complementary Board and management team drawn from the combined group.

A new name for the merged entity will be selected in due course representing the global reach of the new entity, which will have its head office in Buenos Aires, Argentina, a corporate headquarters on the Australian East Coast and an office in Perth.

Highlights Summary

• Creating a Top 5 global lithium chemicals company¹

• Highly complementary portfolio of assets delivering geographical and product diversification across brine, hard rock and vertical integration across the supply chain

• Industry leading growth profile with enhanced financial position to optimise and potentially accelerate development with the ability and intent to capture further downstream value

• Compelling industrial logic with significant value creation opportunities unique to this merger

• Highly experienced and complementary Board and senior management teams to drive growth

• Potential to generate significant shareholder value with enhanced scale and financial capacity

Galaxy Chairman Martin Rowley commented: “This transaction has the potential to be a significant value-creating opportunity for Galaxy and Orocobre shareholders. The Scheme provides shareholders of Galaxy with the opportunity to share in the significant benefits of being part of a larger diversified group and the synergies expected to be available to help enhance and progress our portfolio of world class assets. The merged entity's growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium.”

Orocobre Chairman Robert Hubbard commented: “The logic of this merger is compelling. Both Orocobre and Galaxy shareholders, will benefit from the diversification, growth and scale of a top 5 global lithium chemicals company. I take this opportunity to re-iterate the group's ongoing commitment to the principles of delivering the highest level of transparency of our environmental, social and governance performance, the foundations upon which our assets have and will continue to be developed.”

Orocobre CEO and Managing Director Martín Pérez de Solay commented: “The merger brings together assets and teams with highly complementary skills and knowledge, with a unique opportunity to create a leading independent lithium company. The merger consolidates the combined group’s position in Argentina and will give us significant operational, technical and financial flexibility to deliver the full value of our combined portfolio.”

Galaxy CEO Simon Hay commented: “The merger with Orocobre represents an exciting opportunity for both Orocobre and Galaxy shareholders to consolidate and realise the full potential of our asset portfolios and technical capabilities. The transaction will allow the group to materially accelerate the development of our combined growth projects.”

Orocobre and Galaxy will be hosting a joint investor call at 10.30am AEST (8.30am AWST) today, 19 April 2021. Orocobre and Galaxy are announcing their respective quarterly results today.

The call can be accessed via the following link:

https://services.choruscall.com.au/webcast/ubs-210419.html

Transaction Summary

Orocobre Limited (ASX:ORE, TSX:ORL) and Galaxy Resources Limited (ASX:GXY) have entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme.

Under the Scheme, Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held on the record date for the Scheme. Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%.

The Galaxy Board of Directors unanimously recommends that Galaxy shareholders vote in favour of the Scheme and each Galaxy Director intends to vote all the shares that they hold in Galaxy in favour of the Scheme (in both cases, subject to the Independent Expert opining that the Scheme is in the best interests of Galaxy shareholders and in the absence of a superior proposal).

The Orocobre Board endorses and supports the transaction in the absence of a proposal for Orocobre.

Under the Scheme, Galaxy Chairman Martin Rowley would become Non-Executive Chairman, Orocobre Chairman Robert Hubbard would become Deputy Chairman, Martín Pérez de Solay would remain CEO of the group and Simon Hay will would become President of International Business reporting to the CEO. The CEO together with the Board will commence an integration process to determine the optimal management team drawing from employees from both companies based on a best fit basis.

On implementation of the Scheme, the Board of Directors will comprise four Independent Directors from Orocobre (including Mr Hubbard), four Independent Directors from Galaxy (including Mr Rowley), and the CEO Mr Pérez de Solay. It is agreed that both Mr Rowley and Mr Hubbard will retire from their roles within 12 months of implementation. They will lead a process to ensure that the longer-term Board composition is ideally placed to lead the merged entity going forward.

Strategic Rationale

• Creating a Top 5 global lithium chemicals company

  • Creates the leading ASX lithium company and a top 5 global lithium chemicals company²

  • One of the world’s largest, most geographically diversified producers of lithium chemicals

  • Vertically integrated and able to service multiple markets and customers

• Highly complementary portfolio of assets delivering diversification of production and vertical integration

  • Diversified across geography, lithium source and end products

  • Combines two complementary, large scale tier-one assets

  • Vertically integrated product strategy for all key assets

• Industry leading growth profile with enhanced financial position to optimise and potentially accelerate development with the ability and intent to capture further downstream value

  • Significant portfolio of upstream and downstream growth projects

  • Growth pipeline evenly balanced between production optimisation, construction, advanced projects, brownfield expansions and early-stage projects

  • Unique platform of expertise, capacity and geographic presence to consider further inorganic growth opportunities

• Compelling industrial logic with potentially significant value creation unique to this merger

  • Ability to apply combined management and technical expertise across the merged group and shared IP to further de-risk Sal de Vida and optimise Olaroz

  • Potential for substantial savings in Argentina from expertise sharing, employee and contractor sharing and procurement savings

  • Marketing synergies expected from expanded customer relationships and a broader product base

• Highly experienced and complementary Board and senior management teams to drive growth

  • Global team with significant technical expertise to deliver brine projects in Argentina

  • Proven track record of successfully delivering projects across brine, hard rock, and processing

  • Extensive experience within Argentina shared across the combined board and senior management team

• Potential to generate significant shareholder value with enhanced scale and financial capacity

  • Combined entity expected to be included in the ASX 200 index and approach ASX 100 index thresholds

  • Significantly enhanced liquidity and capital markets profile

  • Strengthened balance sheet with pro forma gross cash of US$487m³ well placed to deliver a world class project pipeline

Conditions

Key conditions to the implementation of the Scheme include:

• Galaxy shareholder approval;

• Approval by the Court;

• The Independent Expert concluding that the Scheme is in the best interests of Galaxy shareholders and not changing, withdrawing or qualifying that conclusion;

• No material adverse effect or prescribed event (as each defined in the MID) occurring in relation to either Orocobre or Galaxy (as applicable); and

• Other conditions customary for a transaction of this nature.

The MID includes reciprocal exclusivity arrangements (including “no shop”, “no talk” and “no due diligence” restrictions and notification obligations) in favour of both parties, a matching right regime in favour of Orocobre and break fees in favour of both parties. The exclusivity arrangements are subject to customary exceptions that enable the directors of Galaxy and Orocobre to comply with their respective fiduciary and / or statutory duties.

Full details of the terms and conditions are set out in the MID, a copy of which is set out in Annexure A.

Timetable and next steps

Galaxy shareholders do not need to take any action in relation to the Scheme at this stage.

A scheme booklet containing information in relation to the Scheme, including the basis for the Galaxy Board’s unanimous recommendation, an Independent Expert Report and details of the Scheme is expected to be circulated to all Galaxy shareholders in late June 2021.

An indicative timetable (which remains subject to change) is set out below:

Advisers

Orocobre’s financial adviser is UBS AG, Australia Branch and its legal adviser is Jones Day.

Galaxy’s financial adviser is Standard Chartered Bank and its legal adviser is Ashurst.

Conference Call

Orocobre and Galaxy will host a joint investor call at 10.30am AEST (8.30am AWST) today, 19 April 2021. The call can be accessed via the following link:

https://services.choruscall.com.au/webcast/ubs-210419.html

This release was authorised by the Board of Galaxy Resources Limited and the Board of Orocobre Limited.

Investor Relations Enquiries

Media Enquiries

IMPORTANT NOTICES

This announcement is a joint announcement by Galaxy Resources Limited ACN 071 976 442 (Galaxy) and Orocobre Limited ACN 112 589 910 (Orocobre).

This presentation has been prepared in relation to the proposed merger between Galaxy and Orocobre by way of scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Scheme). Under the Scheme, Orocobre would acquire 100% of the fully paid ordinary shares in Galaxy in exchange for the issue of new fully paid ordinary shares in Orocobre. The Scheme is subject to the terms and conditions described in the merger implementation deed entered into between Galaxy and Orocobre on or about the date of this announcement (Merger Implementation Deed). A copy of the Merger Implementation Deed is attached to this announcement and available on the ASX website (at www.asx.com.au).

Galaxy and Orocobre have jointly prepared this announcement based on information available to them as at the date of this announcement. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Galaxy or Orocobre, their respective directors, employees, agents or advisers, or any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

Forward Looking Statements

This announcement contains forward looking statements concerning Galaxy, Orocobre and the merged group which are made as at the date of this announcement (unless otherwise indicated), including statements about intentions, beliefs and expectations, plans, strategies and objectives of the directors and management of Galaxy and Orocobre for Galaxy, Orocobre and the merged group, the anticipated timing for and outcome and effects of the Scheme (including expected benefits to shareholders of Galaxy and Orocobre), indications of and guidance on synergies, future earnings or financial position or performance, anticipated production or construction or development commencement dates, costs or production outputs, capital expenditure and future demand for lithium, expectations for the ongoing development and growth potential of the merged group and the future operation of Galaxy and Orocobre.

Forward looking statements are not statements of historical fact and actual events and results may differ materially from those contemplated by the forward looking statements as a result of a variety of risks, uncertainties and other factors, many of which are outside the control of Galaxy, Orocobre and the merged group. Such factors may include, among other things, risks relating to funding requirements, lithium and other commodity prices, exploration, development and operating risks (including unexpected capital or operating cost increases), production risks, competition and market risks, regulatory restrictions (including environmental regulations and associated liability, changes in regulatory restrictions or regulatory policy and potential title disputes) and risks associated with general economic conditions. Any forward-looking statements, as well as any other opinions and estimates, provided in this announcement are based on assumptions and contingencies which are subject to change without notice and may prove ultimately to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions.

There can be no assurance that the Scheme will be implemented or that plans of the directors and management of Galaxy and Orocobre for the merged group will proceed as currently expected or will ultimately be successful. You are strongly cautioned not to place undue reliance on forward looking statements, including in respect of the financial or operating outlook for Galaxy, Orocobre or the merged group (including the realisation of any expected synergies), particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the ongoing COVID-19 pandemic.

Except as required by law or the ASX listing rules, Galaxy and Orocobre assume no obligation to provide any additional or updated information or to update any forward looking statements, whether as a result of new information, future events or results, or otherwise. Nothing in this announcement will, under any circumstances (including by reason of this announcement remaining available and not being superseded or replaced by any other presentation or publication with respect to Galaxy, Orocobre or the merged group, or the subject matter of this announcement), create an implication that there has been no change in the affairs of Galaxy or Orocobre since the date of this announcement.

Mineral Resources and Ore Reserves reporting (by Galaxy and Orocobre)

Any information in this announcement that relates to Sal de Vida Project Mineral Resources and Ore Reserves is extracted from the ASX announcement entitled “Sal de Vida Resource and Reserve Update” dated 14 April 2021 which is available to view on www.gxy.com and www.asx.com.au. Galaxy confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the Mineral Resources and Ore Reserves estimates in the relevant market announcement continue to apply and have not materially changed. Galaxy confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Any information in this announcement that relates to James Bay Mineral Resources is extracted from the ASX announcement, entitled “James Bay Resource Update” dated 4 December 2017 which is available to view on www.gxy.com and www.asx.com.au. Galaxy confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources in the relevant market announcement continue to apply and have not materially changed. Galaxy confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Any information in this announcement that relates to Mt Cattlin Mineral Resources and Ore Reserves is extracted from the report entitled “2020 Resource & Reserve Update” dated 17 March 2021 which is available to view on www.gxy.com and www.asx.com.au. Galaxy confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources and Ore Reserves estimates in the relevant market announcement continue to apply and have not materially changed. Galaxy confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Orocobre is not in possession of any new information or data relating to historical estimates that materially impacts on the reliability of the estimates or Orocobre's ability to verify the historical estimates as mineral resources, in accordance with the JORC Code. The supporting information provided in the initial market announcement on 21/08/12 continues to apply and has not materially changed. Additional information relating to Orocobre's Olaroz Lithium Facility is available on Orocobre's website in “Technical Report – Salar de Olaroz Lithium-Potash Project, Argentina” dated May 13 2011, which was prepared by John Houston, Consulting Hydrogeologist, together with Mr. Michael Gunn, Consulting Processing Engineer, in accordance with NI 43-101.

The information in this report that relates to exploration reporting at the Cauchari project has been prepared by Mr. Murray Brooker. Mr. Brooker is a geologist and hydrogeologist and is a Member of the Australian Institute of Geoscientists. Mr. Brooker is an employee of Hydrominex Geoscience Pty Ltd and is independent of Orocobre. Mr. Brooker has sufficient relevant experience to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. He is also a “Qualified Person” as defined in NI 43-101. Mr. Brooker consents to the inclusion in this announcement of this information in the form and context in which it appears.

Note on synergies

Please also refer to the investor presentation (including slides 7, 8, 13, 14 and 15) released by Galaxy and Orocobre to ASX simultaneously with this announcement for further information about the basis and assumptions underlying any statements about expected synergies in this announcement.

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.

TSX matters

Orocobre is an “Eligible Interlisted Issuer” for purposes of the TSX and intends to rely on the exemptions set forth in Section 602.1 of the TSX Company Manual in respect of the Scheme. The issuance of shares by Orocobre pursuant to the Scheme is subject to acceptance by the TSX.

___________________

¹ Based on market capitalisation as at ASX market close on 16 April 2021.
² Based on market capitalisation as at ASX market close on 16 April 2021.
³ As at 31 March 2021 and includes restricted cash of US$108m.

Whilst it may not be a huge deal, we thought it was good to see that the Oklo Resources Limited (ASX:OKU) MD, CEO & Director, Simon Taylor, recently bought AU$109k worth of stock, for AU$0.14 per share. That purchase might not be huge but it did increase their holding by 13%.

View our latest analysis for Oklo Resources

The Last 12 Months Of Insider Transactions At Oklo Resources

In fact, the recent purchase by Simon Taylor was the biggest purchase of Oklo Resources shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is AU$0.14. Of course they may have changed their mind. But this suggests they are optimistic. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for Oklo Resources share holders is that an insider was buying at near the current price. Simon Taylor was the only individual insider to buy during the last year.

Simon Taylor bought a total of 1.60m shares over the year at an average price of AU$0.18. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

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

Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. From our data, it seems that Oklo Resources insiders own 11% of the company, worth about AU$7.0m. But they may have an indirect interest through a corporate structure that we haven't picked up on. Whilst better than nothing, we're not overly impressed by these holdings.

So What Does This Data Suggest About Oklo Resources Insiders?

It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Oklo Resources insiders are expecting a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example, Oklo Resources has 6 warning signs (and 3 which are concerning) we think you should know about.

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

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

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

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. Importantly, Antofagasta plc (LON:ANTO) does carry debt. But the more important question is: how much risk is that debt creating?

When Is Debt A Problem?

Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

Check out our latest analysis for Antofagasta

What Is Antofagasta's Net Debt?

You can click the graphic below for the historical numbers, but it shows that as of December 2020 Antofagasta had US$3.55b of debt, an increase on US$2.51b, over one year. But it also has US$3.67b in cash to offset that, meaning it has US$126.2m net cash.

How Strong Is Antofagasta's Balance Sheet?

We can see from the most recent balance sheet that Antofagasta had liabilities of US$1.63b falling due within a year, and liabilities of US$4.90b due beyond that. On the other hand, it had cash of US$3.67b and US$1.07b worth of receivables due within a year. So its liabilities total US$1.78b more than the combination of its cash and short-term receivables.

Given Antofagasta has a humongous market capitalization of US$25.9b, it's hard to believe these liabilities pose much threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. While it does have liabilities worth noting, Antofagasta also has more cash than debt, so we're pretty confident it can manage its debt safely.

And we also note warmly that Antofagasta grew its EBIT by 17% last year, making its debt load easier to handle. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Antofagasta's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Antofagasta may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. During the last three years, Antofagasta produced sturdy free cash flow equating to 52% of its EBIT, about what we'd expect. This cold hard cash means it can reduce its debt when it wants to.

Summing up

We could understand if investors are concerned about Antofagasta's liabilities, but we can be reassured by the fact it has has net cash of US$126.2m. And we liked the look of last year's 17% year-on-year EBIT growth. So is Antofagasta's debt a risk? It doesn't seem so to us. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. Be aware that Antofagasta is showing 1 warning sign in our investment analysis , you should know about…

Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.

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

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

Vancouver, British Columbia–(Newsfile Corp. – April 16, 2021) – Margaret Lake Diamonds Inc. (TSXV: DIA) (FSE: M85) (OTC: DDIAF) ("MLD" or the "Company") is pleased to announce Arctic Star Exploration Corp. ("Arctic Star" or the "Company") (TSXV: ADD) (FSE: 82A2) (WKN: A2DFY5) (OTC Pink: ASDZF) has made a new discovery on the Diagras project in the Lac de Gras kimberlite field, Northwest Territory 380km north of Yellowknife. The discovery has been named the Birch Kimberlite.

It was discovered by drilling a vertical hole into a EM and gravity anomaly. The anomaly also occupies a distinct gap in an otherwise continuous Mackenzie diabase dyke in the magnetic data.

Kimberlite was discovered after drilling 28m through 11m of water and 17m of overburden (glacial till). The drill exited the kimberlite at 71m. A second hole from the same drill setup is underway to obtain more kimberlite for caustic fusion.

The drill collar is 220m SE of the known Black Spruce kimberlite discovered in the 1990s. The Black Spruce kimberlite was discovered by drilling a discrete magnetic low. In contrast, the Birch kimberlite has no magnetic signature.

Buddy Doyle, VP Exploration of Arctic, said, "We are all elated to strike kimberlite so early in our 2021 exploration program. It proves our exploration concept, we expect more discoveries as we proceed." Mr. Doyle continued, "After completing the current drill hole we will move from the Birch discovery to test other similar targets. The priority is to make as many discoveries as we can before the ice melts. Material from each discovery will be sent for caustic fusion. We will return to those kimberlites with the highest micro-diamond counts and give them further attention."

The Diagras project is a Joint Venture with Margaret Lake Diamonds Inc. Arctic is the manager and operator of this joint venture.

Qualified Person

The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years' experience in diamond exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.

Contact Information

Neil Foran
Chief Executive Officer
(604) 681-7735
neil@margaretlakediamonds.com

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

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects, which may be accessed through the Company's profile on SEDAR at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80724