TORONTO, ON / ACCESSWIRE / July 29, 2021 / PJX Resources Inc. ("PJX")(TSXV:PJX.V) is pleased to announce the option of the historical Estella mine crown grants (the "Estella Property") from Imperial Metals Corporation ("Imperial"). The 14 Estella crown grants are encompassed by PJX's large Dewdney Trail Property (see map below). The property is road accessible and located approximately 30 km northeast of Cranbrook, British Columbia.

John Keating, President of PJX commented: "PJX's Dewdney Trail Property and the Estella Property have potential to host intrusive related gold and copper deposits as well as sedimentary hosted massive silver-lead-zinc mineralization similar to the historical Kootenay King mine located approximately 5 km to the south. The Estella crown grants have had no significant work or exploration since the late 1960's. Having access to the crown grants will allow PJX to complete mapping and geophysics across both the Estella claims and PJX's adjacent large land holdings this summer to define targets to drill."

Estella Option Terms

Subject to TSX Venture Exchange approval, PJX can earn a 100% interest in the Estella Property by making cash payments, or share equivalent payments, to Imperial totalling $250,000 over a 5 year period as follows:

• $15,000 on signing the agreement; and

• $20,000 on or before July 26, 2022; and

• $25,000 on or before July 26, 2023; and

• $30,000 on or before July 26, 2024; and

• $35,000 on or before July 26, 2025; and

• $125,000 on or before July 26, 2026

Upon exercise of the option by PJX, Imperial will retain a Net Smelter Return Royalty ("NSR") of 2% in respect of the Estella Property. PJX will have the right to buy back 50% of the NSR [being a 1% NSR] for $1,000,000, and the remaining 50% of the NSR [being a 1% NSR] for an additional $1,000,000.

Estella Mine Background – (Source: British Columbia Geological Survey, Bulletin 84)

• Estella Mine operated intermittently from 1951-1967.

• Total of 109,518 tonnes of ore was milled, yielding approximately 6,393 kg silver, 5,181 tonnes lead, 9,834 tonnes zinc with minor gold and copper in concentrates.

• Estella deposit is a silver-lead-zinc vein zone that is up to 7 metre in width that cuts Proterozoic age Aldridge sediments adjacent to a younger, Cretaceous age, intrusive called the Estella Stock.

Dewdney Trail Property map with Estella Crown Grants and road/trail access

The geological disclosure and content of this news release has been reviewed and approved by John Keating P.Geo. (qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, Chief Executive Officer and a Director of PJX.

Corporate Update

The Annual General and Special Meeting of the Company was held on June 29, 2021. The Shareholders of record:

• approved the December 31, 2020, Audited Financial Statements;

• set the number of directors of the Company at six and re-elected John Keating, Linda Brennan, James Clare, Joseph Del Campo, Trygve Hoy, and Victor Bradley;

• appointed McGovern Hurley LLP as Auditors of the Company for the ensuing year; and

• approved the Company's Share Incentive Plan.

PJX continues to advance gold and base metal targets toward the discovery stage on our properties through surface exploration as well as drilling.

We also continue to build strategic partnerships to advance assets including DLP Resource's option of our DD Property and an agreement with Osisko Gold Royalties that was finalized in early 2021, with Osisko paying $1 million for a O.5% NSR royalty interest in PJX's 4 gold properties (Gold Shear, Eddy, Zinger and Dewdney Trail), and purchasing an equity investment in PJX for an additional $1 million.

PJX has identified large target areas with gold, copper, zinc, lead, and silver mineralization across the Dewdney Trail Property to date. The Estella Property option will allow PJX to advance exploration with mapping, prospecting and airborne magnetotelluric and magnetic surveys across both properties to help define targets to drill.

Forest fires in British Columbia have not yet affected our exploration activities. We would like to thank our experienced consulting team of geologists, prospectors, geophysicists, geochemists and drillers for their devotion to advance our exploration targets and maintain safety for themselves and our communities by adhering to health and safety protocols.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold and base metals. PJX's gold properties (Gold Shear, Eddy, Zinger, Dewdney Trail) and base metal properties (Vine, DD, West Basin, Parker Copper) are located in the historical Sullivan mining district and Vulcan Gold Belt of Cranbrook and Kimberley, British Columbia. Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

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

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as "may", "appears to", "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 actual results, level 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 PJX has 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.

SOURCE: PJX Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/657523/PJX-Resources-Options-Historical-Estella-Mine-Property-From-Imperial-Metals

Figure 1

Plan View of the Guayabales Project and the Box Target

Figure 2

Plan View of the Box Target Highlighting North and South Targets

Figure 3

Plan View of the Box South Channel Sampling Results Illustrating all 2 Metre Sample Interval Values

Figure 4

Box North Porphyry Style Mineralization in Stream Outcrop Illustrating Porphyry Alteration, Silicification, Quartz Veining and Pyrite-Chalcopyrite Veins

TORONTO, July 29, 2021 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to provide an exploration update on its Guayabales Project located in Caldas, Colombia. The project is situated contiguous, immediately along strike and to the northwest of Aris Gold’s Marmato gold mine, which contains proven and probable reserves of 2.0 million ounces gold and 4.35 million ounces silver (19.7 Mt grading 3.2 g/t gold and 6.9 g/t silver). The Company interprets the abundant precious metal mineralization encountered throughout the Guayabales Project to be related to multiple mineralized styles that include gold-copper-molybdenum porphyries and associated breccias as well as high grade precious and base metal vein systems that are superimposed on and enrich the porphyry bodies.

Highlights (Table 1 and Figures 1-4)

The Company´s initial channel and rock sampling at the recently discovered target area called the Box within the Guayabales Project returned promising gold and silver assay results from both vein and porphyry mineralized systems. Surface mapping has demonstrated the presence of two mineralized systems along a stream traverse over a 600 metre horizontal distance. The northern portion of the Box target (“Box North”) hosts porphyry mineralization with a vein overprint and the southern portion of the Box target (“Box South”) contains vein mineralization and occurs 300 metres higher in elevation than Box North. The following results are highlighted:

• Box South is a gossan of weathered sulphides and quartz veining located in a quartz diorite dyke at the faulted contact with carbonaceous schists. The fault zone can be traced for several kilometres and is an important structure for porphyry and vein emplacement. Exposure is related to a landslide surface and outcrop is limited to an area measuring approximately 35 metres X 50 metres. Gold and Silver mineralization is associated with anomalous lead and antimony in the sericite and chlorite altered porphyry and is related to extensive pyrite and quartz veining. Channel sampling returned the following intercepts:

Table 1: Channel Sampling Results*

*The Company’s channel sampling program consists of continuous two metre samples taken along the exposed rock at surface.

• The Box North target is hosted within diorite and quart diorite intrusive. Mineralization relates to sheeted quartz and sulphide veinlets hosting pyrite, chalcopyrite and occasional molybdenum in association with disseminated sulphides. There is also a higher grade vein polymetallic vein overprint. The intrusive bodies display secondary biotite, magnetite and sericite which are typical porphyry alteration assemblages. Exposure is limited to outcrops in streams, nevertheless rock samples returned seven values above 1 g/t gold (gold values of 14.8 g/t, 9.6 g/t, 5.1 g/t, 5.0 g/t, 2.3 g/t, 2.2 g/t and 1.6 g/t) and fifty per cent of the samples are anomalous in gold. All of these samples locate within an anomalous Au, Mo and Ag soil area covering a 400m diameter. Silver and base metal results for the rock samples are still pending.

• The Box target highlights both porphyry and vein style mineralization and a vertical zonation in alteration assemblages from Box South to Box North over an elevation difference of 300 metres. Further follow up work is in progress involving detailed soil and rock sampling. An induced polarization (“IP”) survey is planned to cover this area and other zones with porphyry potential in the near future.

“The Box discovery demonstrates the excellent potential of the Guayabales project which now hosts at least three mineralized porphyry bodies, gold bearing breccia and multiple zones of high grade, gold and silver veins. Our exploration continues to discover new mineralized zones and our reconnaissance work to date has only covered about fifty-percent of the concession. The future looks bright for Collective and we are planning a lot of target drill testing in the near future,” commented Ari Sussman, Executive Chairman.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock samples have been prepared and analyzed at Actlabs laboratory facilities in Medellin, Colombia and Toronto, Canada. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

About Collective Mining Ltd.

Collective is an exploration and development company focused on identifying and exploring prospective gold projects in South America. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales project. The 3,780-hectare San Antonio Project is located in a historical gold district in the Caldas department of Colombia. With recent geophysical and LIDAR surveys completed, an initial 5,000 metre drill program is underway at the project with initial assay results anticipated in Q3, 2021. The 3,333-hectare Guayabales Project is also located in the mining friendly Caldas department of Colombia. The Guayabales Project is currently undergoing aggressive surface exploration and is expected to begin a maiden drill program in late August 2021.

Contact Information

Collective Mining Ltd.
Paul Begin, Chief Financial Officer
Tel. (416) 451-2727

FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the maiden drill program, including timing of results, and Collective’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Figure 1: Plan View of the Guayabales Project and the Box Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e97e599-4e55-4a23-a3c5-55c9e65f5871

Figure 2: Plan View of the Box Target Highlighting North and South Targets
https://www.globenewswire.com/NewsRoom/AttachmentNg/2a84a9e2-237c-41a4-9bc3-6b1a9e93132f

Figure 3: Plan View of the Box South Channel Sampling Results Illustrating all 2 Metre Sample Interval Values
https://www.globenewswire.com/NewsRoom/AttachmentNg/458f1ffe-e5b9-4b0c-b146-71565e62ed58

Figure 4: Box North Porphyry Style Mineralization in Stream Outcrop Illustrating Porphyry Alteration, Silicification, Quartz Veining and Pyrite-Chalcopyrite Veins
https://www.globenewswire.com/NewsRoom/AttachmentNg/25af5748-902a-4836-9cb6-2a383cd84b96

DENVER, CO / ACCESSWIRE / July 28, 2021 / Gold Resource Corporation (NYSE American:GORO) (the "Company") declared its quarterly dividend of one cent ($0.01) per common share for the third quarter of 2021 payable on September 30, 2021, to shareholders of record as of September 15, 2021.

After careful consideration and a commitment to best-in-class governance, last quarter the directors of the Company decided to change the frequency with which it will pay dividends and accordingly, has gone to a quarterly dividend payment. Further, the sponsored dividend exchange program under which shareholders may exchange their cash dividends for minted gold and silver rounds has been discontinued effective July 1, 2021 due to its costly nature to administer and limited shareholder participation.

Dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, construction, spot gold and silver prices, taxation, general market conditions and other factors described in the Company's public filings with the U.S. Securities and Exchange Commission.

About GRC:

Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

CONTACT:
Ann Wilkinson
Vice President, Investor Relations and Corporate Affairs
Ann.Wilkinson@GRC-USA.com
www.goldresourcecorp.com

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/657493/Gold-Resource-Corporation-Declares-Quarterly-Dividend

Not for distribution to United States newswire services or for dissemination in the United States

Initiating a 9,000-Metre Follow-Up Drill Program Along the Tarabala Trend and on Additional Exploration Targets

TORONTO, July 28, 2021 (GLOBE NEWSWIRE) — Compass Gold Corporation (TSX-V: CVB) (“Compass” or the “Company”) announced today that it has issued, on a non-brokered private placement basis, a total of 13,387,500 common shares of the Company, at a price of $0.20 per share, for aggregate gross proceeds of $2,677,500 pursuant to the closing of its previously announced private placement (the “Offering”) (see Compass news releases dated July 7, 2021).

Larry Phillips, Compass Gold’s President and CEO, said, "Thanks to the support of our loyal existing shareholders, we are very pleased to have been able to complete our latest private placement so quickly. The fact that this financing was taken up entirely by current shareholders, insiders and our management team has enabled us to substantially reduce dilution for those investors who have supported us in the past. Now, with these funds in hand, we are ready to launch an extensive follow-up drill program to test beneath the exciting near-surface targets that our technical team has identified. We will be reporting results throughout the course of the rainy season between now and November as we advance towards our goal of identifying an open-pittable gold deposit at Sikasso."

Extensive new exploration and drill program launched

Compass has recently identified several targets for follow-up deeper reverse circulation and diamond drilling on the Tarabala Trend. The purpose of the drilling will be to test the width, grade and continuity of previously defined near surface gold mineralization, and determine whether subsequent resource definition drilling is warranted. At the same time, Compass continues to advance exploration throughout its 867 sq. km Sikasso property, where it has identified additional targets that will be drill tested in due course.

Placement Details

In connection with the Offering, the Company paid finder’s fees of an aggregate of $36,300 (in cash), 375,000 common shares (in lieu of cash ), and 556,500 compensation warrants, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation. Each compensation warrant is exercisable to acquire one common share of the Company at a price of $0.20 for a period of two years following the closing of the Offering.

Insiders of the Company purchased an aggregate of 312,500 shares under the Offering, for aggregate consideration of $62,500. Such participation is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Participation by insiders in the Offering was exempt from: (i) the valuation requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(b) of MI 61-101, as the Company is listed only on the TSX Venture Exchange; and (ii) the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61-101, as at the time the Offering was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Offering, insofar as it involved interested parties, exceeded 25 per cent of the market capitalization of the Company.

All the shares issued pursuant to the Offering are subject to a hold period expiring four months and one day after the date of issuance. Subsequent to the completion of the Offering, the Company has a total of 86,481,778 common shares issued and outstanding. The Offering is subject to final acceptance by the TSX Venture Exchange.

The securities offered pursuant to the Offering have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Compass Gold Corporation

Compass is a Tier 2 issuer listed on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 km². The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. Mineralization hosted on adjacent and or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy M. Archibald, P.Geo, is conducting the current exploration program on several anomalous areas of the Sikasso Property, southern Mali.

Forward‐Looking Information

This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.

For further information please contact:

Website: www.compassgoldcorp.com

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

A look at the shareholders of Galan Lithium Limited (ASX:GLN) can tell us which group is most powerful. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.

Galan Lithium is a smaller company with a market capitalization of AU$244m, so it may still be flying under the radar of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Galan Lithium.

View our latest analysis for Galan Lithium

What Does The Institutional Ownership Tell Us About Galan Lithium?

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

We can see that Galan Lithium does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Galan Lithium, (below). Of course, keep in mind that there are other factors to consider, too.

We note that hedge funds don't have a meaningful investment in Galan Lithium. The company's CEO Juan Pablo de la Vega is the largest shareholder with 7.0% of shares outstanding. For context, the second largest shareholder holds about 6.9% of the shares outstanding, followed by an ownership of 5.5% by the third-largest shareholder.

A deeper look at our ownership data shows that the top 24 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known.

Insider Ownership Of Galan Lithium

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

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

Our information suggests that insiders maintain a significant holding in Galan Lithium Limited. Insiders have a AU$51m stake in this AU$244m business. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling.

General Public Ownership

The general public collectively holds 54% of Galan Lithium shares. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Private Company Ownership

Our data indicates that Private Companies hold 13%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Be aware that Galan Lithium is showing 5 warning signs in our investment analysis , and 2 of those are a bit unpleasant…

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

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

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.

• REVENUE STRONG AT $30.8 million

• Cash of $30.5 Million at June 30, 2021

• IMPLEMENTED PROFIT SHARING WITH OUR EMPLOYEES

• FILTRATION PLANT AND DRY STACK EXPECTED TO BE ON BUDGET AND DELIVERED IN Q3 2021

DENVER, CO / ACCESSWIRE / July 27, 2021 / Gold Resource Corporation (NYSE American:GORO) (the " Company ", " We ", " Our " or " GRC ") earned net income of $1.3 million or earnings of $0.02 per share reflecting the adoption of the new Mexican labor reform, effective June 2021, pursuant to which we onboarded all employees from the outsourced third-party provider to our wholly owned subsidiary, Don David Gold Mexico, resulting in a $1.9 million impact on net income. Revenues were strong at $30.8 million and were greater than both the same period in 2020, which had an interruption in production due to COVID-19 and the same period in 2019, which was a more normal year of mining. Cash flow from operating activities was $9.3 million in the second quarter of 2021 bringing our cash at June 30, 2021 to $30.5 million, an increase of $5.1 million for the first six months. The Company produced and sold 9,685 gold equivalent ounces, comprising 5,697 gold ounces and 270,321 silver ounces at an average price per ounce of $1,822 and $26.88, respectively resulting in a total cash cost of $713 per ounce of gold equivalent and an all-in sustaining cost of $1,280 per ounce of gold equivalent.

Allen Palmiere, President and CEO said "Our operations team continues to demonstrate their ability to be nimble and adaptive operators all while focusing on excellent environmental, social and governance practices. Notwithstanding an excellent work culture, there were two lost time incidents at the Don David Gold Mine during Q2 2021, which were investigated, and measures were taken to reinforce adherence to safety protocols. While there were no serious injuries, accidents like these are unacceptable and the Company recognized the need to modify and reinforce the safety program. Accordingly, a series of programs are underway to improve the overall safety culture. Gold production in the second quarter was as expected while silver and base metal production were modestly behind forecast as the team continues to address challenging ground conditions. Accordingly, our all-in sustaining cost per ounce were higher than our guidance at $1280 per ounce of gold equivalent. Notwithstanding this we reinvested $11.2 million into exploration and infrastructure improvements at the Don David Gold Mine and ended the quarter with a cash balance of $30.5 million effective June 30, 2021." Mr. Palmiere went on to say, "Our strong free cash flow per share and dividend yield puts us among the top of our peer group which is not reflected in our share price."

SECOND QUARTER 2021 HIGHLIGHTS

Additional highlights for the three months ended June 30, 2021, are summarized below:

Strategic

• The Company continues to strengthen our senior leadership team with the addition of Alberto Reyes as the new Chief Operating Officer. Mr. Reyes has more than 20 years of international mining experience. This addition adds to the expertise necessary to focus on unlocking the value of our assets while implementing best in class governance.

• $1.0 million distributed in shareholder dividends this quarter, totaling $117.8 million since 2010.

Operational

• Construction of the water filtration plant and dry stack tailings facilities progressed with an expected completion in the third quarter. The dry stack facilities will conserve water, accelerate reclamation of certain areas of the open pit mine as well as extend the life of tailings storage facilities.

• The exploration program progressed with the development of 156 meters of development drifts and 3,421 meters of diamond drilling with 12 drill holes underground at our Arista and Switchback vein systems and 2,069 meters drilled with two surface drill holes at the Aguila project. Additionally, there is a renewed emphasis on satellite areas, including Cerro Colorado and the area surrounding the Aguila project with drilling planned for the second half of 2021.

• With a focus on unlocking the value of the Don David Gold Mine, a total review of first principles commenced to review the geology, metallurgy, block models, mining methods and other key details of the mineral reserve and mineral resource models.

Financial

• Working capital was $32.6 million at June 30, 2021.

• Total cash cost for the quarter was $713 per gold ounce equivalent (after co-product credits). ^[1]

• Total all-in sustaining cost for the quarter was $1,280 per gold ounce equivalent (after co-product credits). ^[1]

2021 Capital and Exploration Investment Summary

The Company's investment in Mexico continued in Q2 2021 with year to date investments totaling $11.2 million. One of the current initiatives taking place at DDGM is a full review and analysis of all remaining capital for 2021 to ensure the budgeted projects continue to align with the key priorities of the organization. Based on the analysis performed to date, it is unlikely that the full amount of guided underground development ($9.8 million) will be spent in 2021 as a result of the mine sequence changes made during the first half of the year.

Gold Regrind Project:Metallurgical testing, full scale design, and engineering of a tailings regrind circuit were completed, including procuring certain components and equipment for this project. The new circuit is expected to increase gold recovery by 6% to 10% by regrinding sulfide mill tailings followed by a leaching circuit to produce doré bars. Completion and commissioning are expected by the first quarter of 2022 due to the manufacturing lead time for specialized equipment, flotation cells and the regrind mill. As of June 30, 2021, $45,000 has been invested in this project with another $1.8 million expected prior to completion.

Dry Stack Project:Significant construction progress was made on the filtration plant and dry stack tailings project which is on track for completion in the third quarter of 2021. The dry stacked tailings will accelerate reclamation of certain areas of the open pit mine, extend the life of current tailings storage facility, and reduce water consumption as approximately 80% of the process water will be available for reuse. As of June 30, 2021, $9.0 million has been invested in this project, $3.5 million in 2021, with another $2.7 million expected prior to completion.

In addition, the open pit is undergoing final preparation work to receive dry stack tailings material, including completion of a new access road.

Dry stack tailings filtration plant

New access road at the open pit

Underground and Exploration Development: Mine development during the quarter included ramps and accesses to different areas of the deposit and exploration development drifts. A total of 1,787 meters of underground development and exploration development, at a cost of $3.3 million, was completed during the year, including access to new exploration diamond drilling platforms on level 17. We plan to invest a total of $1.6 million in exploration development during 2021 and the total expected amount for underground mine development is currently being evaluated but expected to be less than the originally guided amount of $9.8 million as discussed above.

2021 Key Statistics

2021 Q2 Conference Call

The Company will host a conference call tomorrow, Wednesday, July 28, 2021 at 11:00 a.m. Eastern Time.

The conference call will be recorded and posted to the Company's website later in the day following the conclusion of the call. Following prepared remarks, Allen Palmiere, President and Chief Executive Officer, Kim Perry, Chief Financial Officer and Alberto Reyes, Chief Operating Officer will host a live question and answer (Q&A) session.

There are two ways to join the conference call.

To join the conference via webcast, please click on the following link:

https://www.webcaster4.com/Webcast/Page/2361/42039 .

To join the call via telephone please use one of the following dial-in details:

Participant Toll Free: 877-545-0320
Participant International: 973-528-0016
Entry Code: 758194

Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.

About GRC:

Gold Resource Corporation is a gold and silver producer, developer, and explorer with operations in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

Cautionary Statements:

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward- looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward- looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Also, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-Q filed with the SEC.

For further information please contact:

Ann Wilkinson
Vice President, Investor Relations and Corporate Affairs
Ann.Wilkinson@GRC-USA.com
www.goldresourcecorp.com

[1] Total cash cost after co-product credits and all-in sustaining cost per gold equivalent ounce sold are non-GAAP financial measures. Please see the Non-GAAP Measures section of the Management's Discussion and Analysis and Results of Operations for a complete reconciliation of the non-GAAP measures.

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/657305/Gold-Resource-Corporation-Reports-Strong-Year-to-Date-Operating-Cash-Flow-of-161-Million

Vancouver, British Columbia–(Newsfile Corp. – July 26, 2021) – New Carolin Gold Corp. (TSXV: LAD) (OTC Pink: LADFF) (the "Company" or "New Carolin") is pleased to announce that it has entered into a definitive arrangement agreement dated July 25, 2021 (the "Arrangement Agreement") with Talisker Resource Ltd. ("Talisker") pursuant to which Talisker will acquire all of the outstanding common shares of the Company (each, a "Common Share") for consideration of 0.3196 of a common share of Talisker for each Common Share held, by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction"). The proposed Transaction values the Company at approximately $0.095 per Common Share, representing a premium of approximately 36% to the closing price of New Carolin as at July 23, 2021 and approximately 21% to the five-day volume weighted average trading price.

Benefits to New Carolin Shareholders

• Highly attractive premium to New Carolin's shareholders of approximately 36% to the closing price of New Carolin as at July 23, 2021 and approximately 21% to the five-day volume weighted average trading price.

• Opportunity to participate in a leading gold exploration company with a portfolio of highly prospective exploration gold projects and superior liquidity.

• Continued exposure to the Ladner Gold Project through ownership of Talisker shares.

• Access to Talisker's exploration expertise and financial strengthen to enhance the advancement of the Ladner Gold Project.

• Diversifies the Company's single asset risk profile and provides exposure to Talisker's growing portfolio of British Columbia gold assets.

Kenneth Holmes, the President and Chief Executive Officer of New Carolin, commented: "First and foremost, this offer from Talisker brings with it both the financial strength and technical expertise to unlock what we have always believed to be the extraordinary value of our Ladner Gold Project, a district scale property that with the exploration efforts of the Talisker team could potentially host multiple deposits in addition to realizing the true potential of the Carolin Mine. As a tremendous added benefit, the Transaction, at a premium to the current share price, also enables our shareholders to gain exposure to Talisker's large portfolio of highly prospective gold projects in British Columbia, highlighted by the Bralorne Gold Project, and their extensive exploration and development activities that have been underway for some time. We thank all of our shareholders for their support throughout these years."

New Carolin Board of Directors' Recommendation

After consultation with its financial and legal advisors, the Arrangement Agreement was approved unanimously by the board of directors of the Company (the "Board") and the Board recommends that New Carolin shareholders vote in favour of the Arrangement.

The Board received a fairness opinion from Evans and Evans, Inc., which states that the consideration to be received by New Carolin shareholders under the Transaction is fair, from a financial point of view, to New Carolin shareholders.

Transaction Summary

Under the terms of the Transaction, each of the issued and outstanding common shares of the Company will be exchanged for 0.3196 of a Talisker common share (collectively, the "Consideration Shares"), which implies consideration of $0.095 per New Carolin, based on the preceding five-day volume weighted average trading price of the Talisker common shares on the Toronto Stock Exchange (the "TSX"). The Company's 22,267,039 outstanding warrants and 3,880,000 outstanding options will be adjusted so that on exercise the holders will receive Talisker common shares adjusted to reflect the same exchange ratio.

In connection with the Transaction, the Company entered into agreements to settle approximately $500,000 of New Carolin's outstanding payables following closing of the Transaction. In support of the Transaction, Talisker also advanced $400,000 (the "Loan") to New Carolin. As announced on June 28, 2021, the proceeds of the Loan were used to repurchase the net profits royalty previously encumbering a portion of the Ladner Gold Project and for general corporate purposes.

The Transaction has the Company's board and management support, as directors and officers holding 3.2% of issued and outstanding common shares of the Company have entered into voting support agreements with Talisker, pursuant to which they have agreed, among other things, to vote their Common Shares in favour of the Transaction.

The Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), requiring the approval of (i) at least 66 2/3% of the votes cast by the shareholders of New Carolin, and (ii) at least 66 2/3% of the votes cast by the shareholders of New Carolin and the holders of options and warrants, voting together as a single class, at a special meeting of New Carolin securityholders that will be called to consider the Transaction.

In addition to shareholder and court approvals, the Transaction is subject to applicable regulatory approvals including, but not limited to, TSX and TSX Venture Exchange approval and the satisfaction of certain other closing conditions customary in transactions of this nature. The Arrangement Agreement contains customary provisions including non-solicitation, "fiduciary out" and "right to match" provisions. The Company has agreed to pay a termination fee to Talisker of $100,000 upon the occurrence of certain termination events. The Arrangement Agreement, which describes the full particulars of the Arrangement, will be made available on SEDAR under the issuer profiles of Talisker and New Carolin at www.sedar.com.

Full details of the Transaction will be included in the New Carolin management information circular which is expected to be mailed to shareholders in August 2021 and made available on SEDAR under the issuer profile of New Carolin at www.sedar.com. The shareholder meeting is expected to be held in September 2021 and the Transaction is expected to close shortly thereafter.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Kenneth R. Holmes"

President and CEO

Toll Free: 1-(855) 891-9185
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com

This news 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 the accuracy of this press release.

Caution concerning forward-looking information

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, included herein including, without limitation, statements or information about the completion of the Transaction, the anticipated benefits from the Arrangement, the consideration to be paid and the treatment of Company options and warrants under the Arrangement, the timing for the special meeting of Company shareholders and the timing for closing of the Arrangement are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risk factors include, among others: risks associated with the business of Talisker and the Company; risks related to the satisfaction or waiver of certain conditions contemplated by the Arrangement Agreement; risks related to reliance on technical information provided by Talisker and the Company; risks relating to exploration and potential development of the Company and Talisker's projects; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; prices for commodities to be produced and changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of mineral resources); risks relating to unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time and the additional risks identified in the Company's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91166

• The third drill hole, GD21-003 (165 m, 220°/-70°) intersected 78.0 meters* of quartz-sulphide veining, brecciation and associated alteration from 49.0 to 127.0 meters (link to images);

• The 53.5 meter* interval from 49.0 m to 102.5 m is similar in appearance to the mineralized intercepts of GD21-001 and GD21-002, containing 10% to 30% quartz vein stockwork which hosts pyrrhotite, sphalerite, galena, chalcopyrite, argentiferous tetrahedrite** and possibly argentite** and electrum** (link to images);

• Goliath’s Portable XRF spot counts of possible argentite** returned over 5000 g/t Silver (link to images);

• The upper bounding quartz-sulphide vein in GD21-003 is located approximately 50 meters down-dip of the top of mineralization in GD21-002, while the lower bounding quartz-sulphide vein is 85 meters down-dip of the base of the GD-21-002 intercept;

• The upper quartz-sulphide vein is intersected 37 meters below surface of the southernmost Cliff Showing, where a 2019, angular fresh float grab sample returned 967.99 g/t Gold Equivalent or AuEq (29.72 oz/t Gold, 97.19 oz/t Silver). The occurrence system remains open in all directions (link to image);

• The top of the quartz-sulphide vein intercept in GD21-003 is located 250 meters south of the Lower Waterfall Showing, where 2020 channel cuts assayed 13.05 g/t AuEq over 15.1 meters;

• A fourth hole (GD21-004) is currently being drilled to the south from the same drill pad as GD21-001, -002 and -003 is projected to intersect the Surebet mineralized shear zone;

• Additional fan drilling is planned for the adjacent Lower and Upper Waterfall, Main, Central and North Rubble Showings of the Surebet Zone, testing an along an exposed at surface strike length of 1000 meters. The second phase of the 2021 drill campaign will include step-back holes to test the mineralized structure to a down-dip extent of 500 meters; and

• Up to ~5,000 meters of drilling are planned and will target the extensive high grade gold-silver discovery from the exposed quartz-sulphide and sulphide occurrences along strike and to depth (link to video).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they give an indication of the presence of certain metal elements in the drill core. The Portable XRF instrument can detect Gold but not as accurately as assays and does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with gold. Assay results are pending.

TORONTO, July 26, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report a 78.0-meter intercept of from the third drill hole, GD21-003, on the Company’s 2021 maiden diamond drill campaign at its 100% controlled Golddigger Property (the “Property”). The campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1,000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone (“Surebet” or the “Project”). Currently the Surebet zone averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au) based on channel cut sampling taken in 2020. Surebet also has 500 meters of vertical relief and 1,000 meters of inferred down dip extent. The Project is located in a mining friendly jurisdiction in a world class geological setting near Stewart, BC in the Golden Triangle of British Columbia. The Homestake Ridge Deposit (Fury Resources Inc.), Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.

Dr. Quinton Hennigh, technical advisor to Goliath commented: “Hole GD21-003 displays abundant sulphides, particularly base metal sulphides and sulphosalts. Intensity of mineralization appears to increase with respect to the first two nearby holes, both of which were impressive. The width of the Surebet mineralized zone remains very strong. Given that this hole reaches furthest southwest on this northwest-striking, southwest-dipping structure, the system is clearly open to the southwest where its surface exposure dives under talus cover. In fact, it may be strengthening in this direction, a very intriguing possibility. Goliath is exploring the possibility of drilling further to the southwest to evaluate this possibility. In the meantime, we look forward to completing hole GD21-004, the final hole from this pad, before moving the drill northward.”

Roger Rosmus, Founder & CEO stated, “the continuity of the drilling to date strongly indicates the presence of a very large high grade precious metals system that is showing the ingredients for to be the next big gold discovery in B.C.’s prolific Golden Triangle. With only 50M shares issued and outstanding, plus a strong treasury with no debt, our shareholders are in a great position to build value in short order. Drill results are expected on GD21-001 & 002 in the near future from our 100% controlled Golddigger Property.”

GD21-003 (165 meters, 230°/-70°) drilled at the Cliff Showing on the same drill pad as GD21-001 and -002, but with a southwest orientation. GD21-003 targeted approx. 50 meters down-dip of the quartz-sulphides mineralization of both previous holes to maximize the intersected span on the quartz-sulphide intervals.

GD21-003 (165 meters, 230°/-70°) drilled at the Cliff Showing on the same drill pad as GD21-001 and -002, but with a southwest orientation.

The upper quartz-sulphides veining (now termed the “Upper Zone”) was intersected with a much more prominent alteration halo consisting of silica bleaching and biotite (a water-rich Potassium, Iron-Magnesium Aluminum silicate) in the meters around the veining relative to GD-001 and -002. Several vein phases form imposing sulphides breccia.

Significant intervals occur for 43.0 meters* from 49.0 to 92.0 meters downhole length:

• Initial 17.3 meters* from 49.0 to 66.3 meters of :
  Significant quartz veining and vein-hosted galena (a Lead sulphide), sphalerite (a Zinc sulphide) and pyrrhotite (a magnetic Iron Sulphide), particularly over a 1.0 meter* interval from 58.0 to 59.0 meters with massive quartz-sulphides vein;

• Followed by 3.7 meters* from 66.3 to 70.0 meters of:
  50% massive sulphides as veins crosscutting and brecciate/form stockwork of white quartz veining. Sulphides include pyrrhotite, galena, argentite (a Silver sulphide), native Silver, sphalerite, chalcopyrite (a Copper Sulphide) and tetrahedrite (a Copper-Antimony Sulphur salt);

• Followed by 3.2 meters* from 70.0 to 73.2 meters of:
  Biotite and Iron carbonate altered wallrock, intensely sheared containing ~5% angular centimeter-scale fragments of grey quartz vein material, itself crosscut by centimeter-wide white quartz veins, containing ~5% sulphides including galena, sphalerite and pyrrhotite;

• Followed by 18.8 meters* from 73.2 to 96.4 meters of:
  Moderate biotite and silica alteration hosts 10 to 30% centimeter- to decameter-scale white quartz, ±chlorite and ±pyrrhotite veins;

• Followed by 5.6 meters* from 96.4 to 102.0 meters of:
  ~20% white quartz and ±scheelite (a Calcium-Tungsten mineral)** vein stockwork containing clusters of sphalerite (~2%), galena (~1%) and argentite (a Silver sulphide)** (~0.1%);

• Followed by 0.5 meters* from 102.0 to 102.5 meters of:
  Coarse-grained white quartz vein with ~4% clotted sphalerite, ~3% specularite (an Iron oxide derived from magnetite) and ~1% galena;

• Followed by 1.5 meters* from 102.5 to 104.0 meters of:
  Orange calcite dusting overprints intense ductile deformation foliation with disseminated and clustered pyrite (an Iron sulphide) (~5%) and pyrrhotite (~1%); and

• Followed by 23.0 meters* from 104.0 to 127.0 meters of:
  Calcite (~20%), pyrite (5-10%), pyrrhotite (~1%) and chlorite (a water-rich Iron-Magnesium Aluminum silicate) stringers.

GD21-003 undercut an area approximately 37 meters below surface of the southernmost Cliff Showing. The Cliff Showing previously yielded a fresh angular float sample assaying 967.99 g/t AuEq (29.72 oz/t Gold, 97.19 oz/t Silver), and is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

The upper bounding quartz-sulphide vein in GD21-003 is located approximately 50 meters down-dip of the top of mineralization in GD21-002, while the lower bounding quartz-sulphide vein is 85 m down-dip of the base of the GD-21-002 intercept. The top of the quartz-sulphide vein intercept in GD21-003 is located 250 meters south of the Lower Waterfall Showing, where 2020 channel cut yielded 13.05 g/t AuEq over 15.1 meters.

The fourth hole on the Surebet Zone, GD21-04 (at a targeted length of 150 meters, 170°/-70°), is being drilled to the south from the same drill pad as the first three holes in order to further constrain the geometry (true width and orientation) of the Surebet mineralized shear vein at the Cliff Showing.

Goliath has planned for up to ~5,000 meters of fan drilling from multiple drill pads to target the extensive gold-bearing quartz-sulphide veining at Surebet both along strike and to depth from surface exposures at the Lower Waterfall, Waterfall, Main, Central and North Rubble Showings. Surface sampling has outlined 1,000 meters of strike length, 500 meters of vertical relief and 1,000 meters of inferred down-dip extent. The drilling will focus on testing the continuity at depth of the high-grade gold-silver mineralization zone exposed at surface averaging 9.84 meters wide at 10.68 g/t AuEq (with 7.59 g/t gold) which remains open (see Company news release dated November 25, 2020).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they give an indication of the presence of certain metal elements in the drill core. The Portable XRF instrument can detect Gold but not as accurately as assays and does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with gold. Assay results are pending.

QA-QC Protocols

Oriented HQ-diameter diamond drill core from the Surebet drill campaign is placed in core boxes by the drill crew of a company contracted by Goliath. Core boxes are transported by helicopter over a 15 kilometer distance to the Kitsault staging area, and then transported by truck approximately 500 meters to the Goliath core shack. The core is then re-constructed, meterage blocks are checked, meter marks are labeled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit^TM.

Drill holes were planned using Leapfrog Geo^TM and QGIS^TM software and data from the 2019 and 2020 exploration campaigns, the 2021 airborne Mag and VLF-EM geophysical survey, and an in-house lineament study incorporating observed folds, axial planes, geologic contacts, dykes swarms, cleavages, and all significant lineaments/structures.

Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a plastic bag with an ALS sample tag. Standards, blanks and pulp duplicates were added in the sample stream at a rate of 10%. Samples are transported in rice bags sealed with numbered security tags. Goliath personnel drives samples from Kitsault to Terrace and a transport company takes them from there to the ALS lab facilities in North Vancouver. At ALS, samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP41, Ag-AA61 and Au-ICP22 methods. Over limits are re-analyzed using the ME-OG-46, Ag-GRA, Ag-AA62 and Au-GRA22 methods. If Gold is higher than 5 g/t, ALS will re-analyze using Metallic Screening (Au-SCR24C) method.

Golddigger Property

The Property has an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is located in the world class geological setting of the Golden Triangle area on tide water 30 kilometers southeast of Stewart, BC.

Surebet is located some 8 kilometers southwest of the Homestake Ridge project which is a high-grade gold-silver deposit that contains 982,700 ounces of gold @ 4.99 g/t Gold and 19,600,000 ounces of Silver @ 97.7 g/t Silver, with drill intercepts of up to 73 meters of 21 g/t Gold and 12 g/t Silver (source – Fury Resources Inc. PEA & Website) (Link to Map).

At Surebet, multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1,000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 g/t AuEq (with 7.59 g/t Gold) with 1 kilometer (1,000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill campaign. Higher grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying up to 0.5 g/t AuEq (Link to news November 25, 2020).

Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2 kilometers of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

The Company has granted stock options for a total of 390,000 common shares of the Company to Officers and Directors a. These stock options are exercisable at $1.29 each, which was the closing price on July 23, 2021.
These options will expire July 23, 2026 and are governed by the Company's stock option plan.

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete

the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Toronto, Ontario–(Newsfile Corp. – July 26, 2021) – Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce drill results from its ongoing 40,000 metre ("m") exploration program. The results reported are from drilling at the Hammerdown Gold Project ("Hammerdown" or the "Project") in the Baie Verte Mining District of Newfoundland and Labrador, Canada. Exploration activities are ongoing with two diamond drill rigs completing remaining infill and exploring along the highly prospective Hammerdown Deformation Zone. Drilling is set to begin on several new regional targets along the Spucy Pond Gold Trend (located 5 km east of the Hammerdown deposit), Gull Ridge and Whisker Valley throughout 2021 and into 2022.

Highlighted Drill Intercepts from Hammerdown

• 39.98 gpt Au over 2.05m, including 140.16 gpt Au over 0.20m (MP-21-188)

• 26.94 gpt Au over 0.20m (MP-21-185)

• 22.55 gpt Au over 0.35m (MP-21-187)

• 15.2 gpt Au over 0.55m, including 40.21 gpt Au over 0.20m (MP-21-186)

• 12.70 gpt Au over 1.40m, including 23.81 gpt Au over 0.20m and 51.20 gpt Au over 0.20m (MP-21-185)

• 6.93 gpt Au over 2.25m, including 13.60 gpt Au over 0.60m and 11.17 gpt Au over 0.50m (MP-21-185)

• 6.02 gpt Au over 1.82m including 23.41 gpt Au over 0.40m (MP-21-185)

Definition Drilling Completed at Hammerdown

Maritime has completed a definition drilling program within the conceptual open pit shell at the Hammerdown deposit consisting of thirty-seven (37) diamond drill holes totalling 4,944 metres. The holes were placed at important locations along the strike length of the deposit to confirm the interpretation and continuity of the mineralization for resource modelling. Drill hole MP-21-188 intersected the high grade M08 zone as expected, returning a high-grade interval of 39.98 gpt Au over 2.05m, including 140.16 gpt Au over 0.2m. Drill hole MP-21-185 successfully intersected 15 separate veins in the core of the deposit highlighted by several high grade intervals including 12.70 gpt Au over 1.40m, 6.93 gpt Au over 2.25m and 6.02 gpt Au over 1.82m. Additional drilling is planned approximately 150m from the eastern edge of Hammerdown where the deposit is open along strike and at depth with excellent potential to extend the mineralized vein system. Previous drilling in 2020 intersected 6.9 gpt Au and 12.9 gpt Ag over 6.0m, including 19.9 gpt Au and 24.1 gpt Ag over 2.0m in drill hole GA-20-35 (see press release dated February 1, 2021).

"These drill results further confirm the continuity of the high grade, near surface gold system at Hammerdown. Drilling was completed in several areas of the deposit where high grade veins were not consistently sampled by historic operators. This provides an opportunity to gather additional data and better define the vein extents as we update the mineral resource estimate," commented Garett Macdonald, President and Chief Executive Officer. "There are currently two drills on site with one drill rig focusing on the Orion North target and the other kicking off our regional exploration program by targeting the new Timber Pond and Birchy Island Pond VTEM anomalies on the east side of the property," continued Mr. Macdonald.

Figure 1: Hammerdown Drill Hole Locations – Plan View Click to enlarge

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4548/91160_b0bd81cf14d21baf_001full.jpg

Table 1: Hammerdown Drill Hole Composites

Note: Gold assay values are not capped and interval lengths are approximately true width

Table 2: Drill Hole Locations and Orientations

Analytical Procedures:

All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited ("EAL") located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

About Maritime Resources Corp.

Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property. This includes the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King's Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000 and 2004. The Company also owns the gold circuit at the Nugget Pond metallurgical facility in Newfoundland and Labrador, the Lac Pelletier gold project in Rouyn Noranda, Québec and several other exploration properties and royalty interests in key mining camps across Canada.

On Behalf of the Board:

Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:

Tania Barreto, CPIR
Head of Investor Relations
1900-110 Yonge Street, Toronto, ON M5C 1T4
info@maritimegold.com
www.maritimeresourcescorp.com

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Qualified Person:

Exploration activities at the Hammerdown Gold Project and Whisker Valley are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo and Technical Advisor Jeremy Niemi, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Caution Regarding Forward-Looking Statements:

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include statements concerning the potential to increase mineral resource and mineral reserve estimates, the Company's decision to restart the Project, the Company's plans regarding depth extension of the deposit at Hammerdown, the Company's plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company's plans regarding drilling targets previously identified, the anticipated timing of receiving permits for construction and development of Hammerdown and the Company's decision to acquire new mineral property interests and assets, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether the acquisition of assets and new mineral property interests including the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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/91160

Gold has long been regarded as a safe haven in times of market turmoil. Gold stocks, as represented by the VanEck Vectors Gold Miners ETF (GDX), have dramatically underperformed the broader market over the past year as the U.S. and other economies have begun to recover amid the global pandemic.

VANCOUVER, BC / ACCESSWIRE / July 22, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce it has identified several new targets of interest from a high resolution geophysical survey on the Jackpot lithium property. The survey, conducted by Novatem Airborne Geophysics, identified several east-west trending structural features oriented parallel to several lithium-rich pegmatite dykes within the Jackpot lithium deposit itself. The Company will mobilize a ground crew to site as soon as possible to investigate these structures with overburden stripping and rock and channel sampling.

J.C. St-Amour, President of Infinite Ore commented, "The resolution of this survey is of better quality than we have previously seen on the property. Therefore, we were able to immediately identify multiple areas of interest for boots on the ground follow up this summer. These lithium bearing dykes tend to come in swarms and bear a strong resemblance to the Jackpot lithium deposit, which we know is mineralized. I am very excited to get the crew in the field to explore these targets. The goal is to identify and properly explore multiple lithium-bearing-granitic dykes to build a sizeable lithium resource on the property. The lithium market remains very robust, and the Jackpot lithium property is well located, as we are surrounded by other explorers which have made significant lithium discoveries. This property is our focus and we are keen to discover its full potential."

The Company's 100% owned Jackpot project is located in close proximity to the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility in Thunder Bay, Ontario. The Jackpot property contains known pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li₂O and 750,000 tons at 1.38% Li₂O*.

Figure 1: Geophysical map of the Jackpot project.

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company as not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

About Infinite Ore Corp.

Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The Company is focused on its Jackpot lithium project located near Nipigon in Northern Ontario. The company has entered into an LOI to sell its interest in its gold and VMS land package in the Confederation Lake assemblage belt near Red Lake, Ont.

ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Infinite Ore Corp.

View source version on accesswire.com:
https://www.accesswire.com/656600/Infinite-Ore-Identifies-Potential-New-Lithium-Exploration-Targets-From-Geophysics-at-Jackpot-Lithium-Project

TORONTO, July 21, 2021 /CNW/ – Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") announces that LAURION's management has been in communication with the Northern Development, Mines, Natural Resources and Forestry (MNRF), and received notification that as of July 21, 2021, MNRF issued an industry-wide Emergency Area Order, that mineral exploration activities such as diamond drilling, stripping and trenching, channel sampling, use of metal tracked equipment and rubber-tired equipment, surveys using a generator and road or trail building covering restricted fire zones over specified areas, are prohibited in order to protect public safety and facilitate effective fire suppression.

LAURION reports that its drilling program at the Ishkoday Property has thus been paused due to a very active fire season across Northern Ontario with high temperatures, dry conditions and frequent thunderstorms contributing to multiple large forest fires, and thus temporarily rendering the field environment unsafe for drilling on the Ishkoday Property. LAURION will monitor the situation closely and will safely resume its full exploration and drilling activities immediately after the Emergency Area Order is lifted.

The Ishkoday Property is located 28 km north-east of the town of Beardmore and 220 km north-east of Thunder Bay, Ontario.

The LAURION exploration team has met its planned 2021 exploration planning targets. LAURION has completed 60% of its drill program target of 10,000 m to date and is awaiting further assay results to consolidate, integrate and correlate the assay results into its GIS database and 3D modelling, prior to reporting to its investors. LAURION has fortuitously completed its planned program of stripping, trenching and channel sampling of the A-Zone and MacLeod Zone. The Corporation is also awaiting the final assays of the channel sampling on both of these zones.

During this Emergency Area Order period, LAURION will continue with its exploration program of prospecting and geochemical soil sampling following up on geophysical surveys of anomalies north of the Namewaminikan River, ensuring the safety of its exploration team while cognizant of the dry conditions of the field.

Qualified Person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Jean Philippe Paiement, P Geo., a consultant to Laurion, and a "qualified person" within the meaning of National Instrument 43-101.

About LAURION

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 233,473,342 outstanding shares of which approximately 79% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

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

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, and management's objectives, strategies, beliefs and intentions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

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

SOURCE Laurion Mineral Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2021/21/c8113.html

SUDBURY, ON / ACCESSWIRE / July 20, 2021 / Northern Superior Resources ("NorthernSuperior" or the "Company") (TSXV:SUP)(OCTQB:NSUPF) is pleased to announce that it has initiated plans to define the northern and eastern extension of the gold "footprint" associated with the NI 43-101 compliant (640,000 ounce at 1.7 g/t gold inferred) CBSZ gold deposit on its large (30km by 15km, 12,545 hectare), 100% owned Croteau Est gold property, Quebec.

The Company will test the northern and eastern extension potential of the CBSZ with a 2,530m, 220-hole reverse circulation (RC) drill program, scheduled to commence in August. The CBSZ gold deposit is currently defined from only 64 drill holes, 350m maximum depth over a 550m strike length, open at depth and open along strike both to the east and west. Within the CBSZ, gold is hosted in a 75-120m wide, east-west trending sericite-carbonate alteration zone and associated stockwork quartz veins.

In defining the original CBSZ discovery, several trenches exposing the CBSZ returned mineralized bedrock grab samples. Highlighted assays include (see Northern Superior press releases July 20, 2011, November 12, 2013):

• 15.0g/t Au;

• 52.8g/t Au;

• 68.7g/t Au; and

• 58.8g/t Au.

From these same trenches channel samples were also taken, highlighted assay values include (see Northern Superior press releases, October 12, 2011, July 5, 2017):

• 92.57g/t Au over 1m or 12.8g/t Au over 7.8m;

• 14.37g/t Au over 7.5m; and

• 8.49g/t Au over 5.7m.

Gold within the CBSZ is associated with at least 9 high grade gold shoots. Highlighted intersections reported include (see Northern Superior press release November 13, 2017, January 10, 2018):

• High grade widths of up to 11.06 g/t Au over 9.10m (including 43.75 g/t Au over 2.00m),

• 61.24 g/t Au over 5.95 m(including 705 g/t Au over 0.5 m)

• High grade mineralization occurring >400 m vertical depth: 7.50 g/t Au over 7.95m (including 56.40 g/t Au over 1.00m) between 489.90m to 497.85m; and

• Wide mineralized widths of up to 1.99 g/t Au over 34.65m (including 9.46 g/t Au over 2.35m).

All 9 high grade gold shoots are of mineable width and grade, dip to the east and are contiguous, as evidenced by the 96% hit rate experienced in the Company's 2017 core drill program (see Northern Superior Corporate Presentation, www.nsuperior.com). The mineralization was proven to extend directly to surface by projecting the shoots to surface and exposing it. This shoot consisted of two zones of >10g/t Au, 2.5m x 2.0 m and 2.0m x 0.5m, enclosed by a halo of >5g/t Au, 7.0m x 2.5m in turn enclosed by a halo of gold mineralization of >3g/t Au over an area of 8.0m x 3.0m (see Northern Superior press release, November 3, 2014).

Dr. T.F. Morris, President and CEO states: "The CBSZ is a gold deposit consisting of high-grade gold material, existing within a large alteration system open at depth and strike to the east and west. The potential extension of the high-grade shoots at depth remains a compelling target with a supportive geological model as witnessed by our 96 percent success rate with our Phase II 2017 drill program.

However, the Company has evidence that the CBSZ gold footprint extends farther north (at least by 600m) and along strike both east and west beyond what is currently defined, encompassing the tuffaceous sediments and the Croteau North Shear Zone (CNSZ) that are aligned parallel to the CBSZ (Figure 1). This evidence is derived from overburden sampling programs, trenching and core drilling. The same programs also included the CBSZ, thus providing a direct comparison of the various heavy mineral and geochemical signatures between the two data sets.

As such, before launching into a core drill program specific to testing the CBSZ at depth, the Company has designed an RC program to test the viability of a broader gold target north and east of the of the CBSZ (Figure 1)."

"It is important to note that the Croteau Est property is a large 30km by 15km land package and despite having a 640,000 oz 1.7g/t gold inferred resource on a very small portion of its land package, the remainder of this property remains largely under explored. With success from this RC program we see potential to step out further onto our numerous regional targets on the property (see Figure 2)."

The RC Program

The RC program is designed to address three primary issues, the answers to which are necessary in determining the potential economic viability of a larger gold footprint north and east of the CBSZ. These include:

1. Accurately determine the distribution and lithogeochemistry of the three primary lithological units (CBSZ, CNSZ and intervening tuffaceous sediments);

2. Determining if the package of primary lithological units should be considered as an economic target as opposed to just the CBSZ; and

3. Determining the extension of these three units past the Croteau Fault and how both the Croteau Fault and Croteau Deformation Zone may play a role in gold mineralization within this system.

To achieve these goals, the RC program will cover a rectangular area 600m by 1km (Figure 1) consisting of a 50 x 100m spaced grid of approximately 200 RC holes. Each hole will penetrate into the bedrock surface 1.5m. The lower basal till (overburden material lying directly over bedrock) and bedrock chips will be collected. The basal till will be processed for gold grains and geochemical analysis. The lithology and geochemistry of the bedrock chips will be determined.

The area to be drilled includes both the CBSZ and CNSZ and the intervening area of tuffaceous sediments. Also captured is the projected northeast extension of quartz porphyry dykes thought critical to high grade gold mineralization associated with the CBSZ mineral resource. In addition, sections of the Croteau Fault and Croteau Deformation Zone occur within the eastern side of the RC test area (Figure 1).

Within the area to be drilled are anomalous gold grain-in-till, (Figure 3), mobile metal ion (Figure 4) and soil gas hydrocarbon signatures (Figure 5). The size and intensity of these anomalous values will be tested from the results of this program, important in defining specific target areas within the system.

* Reference for Northern Superior's 640,000 ounce Inferred Gold Resource: "Drabble, Mark (B. App. Sci. (Geology), MAIG, MAusIMM); Glacken, Ian (BSc Hons (Geology), FAusIMM (CP), MIMMM, CEng; Kahan, Cervoj (B. App. Sci., MAIG, MAusIMM); Morgan, Rebecca (BSc Hons (Geology), GDip (Mining), MAIG, MAusIMM). October 12, 2015. Technical Report on the Croteau Est Gold Project, Québec September 2015, Mineral Resource Estimate."

Qualified Person

T.F. Morris (PhD, P.Geo., FGAC, ICD.D) is a Qualified Person ("QP") within the meaning of National Instrument 43-101. Dr. Morris has reviewed, and approved information disclosed in this press release.

About Northern Superior Resources Inc.

The Croteau Est gold property is one of three key mineral properties 100% owned by Northern Superior. The Company's two other properties (TPK and Lac Surprise) 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 PhD., P.Geo., FGAC , ICD.D
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. Location of the RC grid, defined by the red rectangle 600m north-south by 1km east-west. The drill area captures several key lithological and structural units including the CBSZ and CNSZ and intervening tuffaceous units plus quartz-feldspar porphyry dykes (QFP), the Croteau Fault and Deformation Zone. See text for details.

Figure 2. The CBSZ 43-101 compliant resource occurs at the intersection of the east to west oriented Croteau Bouchard Shear Zone and the northeast to southwest oriented Croteau Fault. There are at least 11 other such opportunities that occur on the Croteau Est property where east-west oriented shear zones are cross-cut by northeast to southwest faults. Gold showings at several of these intersections including Trench 101, Area # 5 and Croteau South emphasize this opportunity.

Figure 3. Gold grain-in-till anomalies derived from surface overburden sampling and basal tills sampled From RC programs. A basal till sample collected immediately down-ice from an exposed high grade shoot yielded 877 gold grains, 844 of which were pristine grains (96%) indicating very close proximity to source. The RC basal till associated with RC hole CRO15-186 yielded 244 gold grains, 172 of which were pristine (70%). This on its own is a very compelling target as the background value for gold grains in this area is close to 1.

Figure 4. Mobile metal ion gold signature (MMI: areas of red). Note the strong MMI anomaly associated with the CBSZ where the QFP dykes occur. This makes the large red MMI anomaly in the northwest part of the RC grid particularly compelling.

Figure 5. Soil gas hydrocarbon gold anomalies (SGH: areas of dark red). Interestingly, the CBSZ does not have a significantly large SGH signature. However, the RC grid contains several very large and strong SGH signatures.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/656136/Northern-Superior-to-Test-Expansion-of-CBSZ-43-101-Compliant-640000-Ounces-Gold-17gt-Gold-Gold-Resource-Croteau-Est-Property-Chapais-Chibougamou-Gold-Camp

TSXV: NEV

VANCOUVER, BC, July 20, 2021 /CNW/ – Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the "Company") (TSXV: NEV) is pleased to announce that its joint venture partner, New Placer Dome Gold Corp. ("New Placer Dome") (TSXV: NGLD) has presented plans for the 2021 resource expansion and exploration program at the Kinsley Mountain Gold Project ("Kinsley Mountain") in Nevada. Nevada Sunrise holds a 20.01% interest in the Kinsley Mountain joint venture, with New Placer Dome, as operator, holding a 79.99% interest.

Kinsley Mountain is located 90 kilometres (56 miles) south of the Long Canyon Mine¹, operated by Nevada Gold Mines. Kinsley Mountain hosts Carlin-style gold mineralization under and adjacent to a historical open-pit, run-of-mine heap leach operation, and hosts an Indicated Resource at the Western Flank Zone ("WFZ") of 302,000 ounces of gold grading 6.11 grams/tonne gold (1.54 million tonnes)¹.

Building on a successful 2020 campaign, the 2021 Kinsley Mountain exploration program will, subject to financing, comprise resource expansion and drilling on three new discovery areas, and a significantly expanded program of induced polarization ("IP")/resistivity geophysical surveys.

The 2020 Kinsley Mountain reverse circulation ("RC") and diamond drill campaign comprised 49 drill holes totaling 17,970 metres and tested five targets within the greater resource area (Figure 1). Exploration drilling during 2021 is anticipated to build on new mineralized intercepts and expand the current indicated and inferred resources at the WFZ, Main Pit North Oxide and Secret Spot targets (Figure 2).

Highlights of the 2020 Kinsley Drilling include²:

Western Flank – West side resource expansion drilling yields

• 10.22 grams/tonne gold ("g/t Au") gold over 6.1 metres within a broader zone grading
  2.63 g/t Au (sulphide) over 38.10 metres in KMR20-017

Western Flank – Central yields second highest-grade Dunderberg shale intercept

• 1 g/t Au (sulphide) over 7.6 metres, including 24.1 g/t Au (sulphide) over 4.6 metres lower zone,

• 9.08 g/t Au (sulphide) over 6.1 metres upper zone in KMR20-026

Main Pit North Oxide Target yields high-grade intercepts 75 m outside current pit shell

• 9.83 g/t Au over 7.6 metres high grade shallow oxide

Secret Spot Target surface oxide New Discovery multiple intercepts including

• 1.77 g/t Au over 25.3 metres in new surface oxide discovery in KMD20-007B

• 3.81 g/t Au over 11.6 metres; including 11.3 g/t Au over 2.9 metres in KMD20-006

IP/resistivity geophysical surveys competed during 2020 at the WFZ and Shale Saddle target areas show a correlation between chargeability and drill confirmed high grade gold sulphide mineralization. Expanded infill IP/resistivity geophysical surveys for 2021 are planned to extend south to the Secret Spot target and north to frontier areas of the under-explored Kinsley North. At Kinsley North, detailed soil geochemical surveys reveal broad arsenic in soil anomalies coincident with north-trending normal and low angle detachment faults coincident with the prospective Pogonip-Notch Peak contact (the same host horizon as Long Canyon¹) and Dunderberg shale rocks at depth cut by late northwest trending structures that are important gold mineralization hosts within the Kinsley resource area.

Key Points for 2021 Kinsley Mountain Exploration Program:

• Continued resource definition and exploration drilling on 3 priority targets;

• Western Flank Zone – Resource expansion drilling that is open to the west and east, and testing new near-resource targets generated by recent IP/resistivity survey results;

• Secret Spot – Mapping and drilling to define the new surface oxide gold discovery;

• Secret Spot – Deep drilling targeting Transverse fault / Secret Canyon shale intersection following up on highest assay results to date at Secret Spot >10 g/t Au returned during 2020 campaign;

• Main Pit North high-grade oxide discovery continued shallow RC drilling to further delineate near pit mineralization at <150 metres vertical depths; and

• Expanded IP/resistivity geophysical surveys to cover the Secret Spot target and under-explored Kinsley North targets, in addition to drill testing of Shale Saddle IP anomaly.

Methodology and QA/QC

Assaying was performed by ALS Global ("ALS"), of Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of New Placer Dome, Nevada Sunrise, and their respective Qualified Persons. RC drill samples were subject to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay analysis with atomic absorption spectroscopy ("AAS") finish, in addition to 51 element ICP-MS. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au are also subject to leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.

As operator at Kinsley Mountain, New Placer Dome follows industry standard procedures for the work carried out the Project, with a quality assurance/quality control ("QA/QC") program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. New Placer Dome detected no significant QA/QC issues during review of the data. Nevada Sunrise is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr., CPG, RG, SME and a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Allender has examined the information provided by New Placer Dome, which includes the data disclosed underlying the information and opinions contained herein.

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper, cobalt and lithium exploration projects located in the State of Nevada, USA.

The Company's key gold asset is a 20.01% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover. Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au ¹.

¹ Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (www.sedar.com). Long Canyon Mine is not necessarily indicative of mineralization within Kinsley Mountain Project area.

Nevada Sunrise has right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.

Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County. The Company owns Nevada water right Permit 44411, located within the Clayton Valley basin near Silver Peak, Nevada, and water permit 86863, located in the Lida Valley basin, near Lida, Nevada.

FORWARD LOOKING STATEMENTS

This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to the interpretation and actual results of historical production at Kinsley Mountain, reliance on technical information provided by third parties on any of our exploration properties, including access to historical information on the Kinsley Mountain property as well as specific historical data associated with drill results from the property, technical information received from New Placer Dome Gold Corp., current exploration and development activities; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; failure of New Placer Dome Gold Corp. to complete anticipated work programs; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months ended March 31, 2021, which is available under Company's SEDAR profile at www.sedar.com.

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, 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 such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.

SOURCE Nevada Sunrise Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/20/c6741.html

• The second drill hole, GD21-002 (planned 350 meters in length, 050°/-55°) intersected 23 meters* of quartz-sulphide veining and breccia, enveloping 5.6 meters* and 0.7 meters* of intense quartz-sulphide vein breccias (link to images).

• The upper 5.6 meters* vein breccia contains >80% quartz, pyrrhotite (magnetic iron sulphide), sphalerite (zinc sulphide), galena (lead sulphide), chalcopyrite (copper sulphide) and bornite (enriched copper sulphide) and is very similar in appearance to the upper vein intercept of GD21-002 (link to images).

• The second 0.7 meters* vein breccia essentially consists of white quartz with abundant dendritic black material, possibly native silver, based on Goliath’s Portable XRF spot counts** returned over 5,000 g/t Ag (link to images).

• The upper intercept of quartz-sulphide veining in GD21-002 is located approximately 25 meters north of the GD21-001 intersection and some 35 meters below surface of the southernmost Cliff Showing, where a 2019, angular fresh float grab sample returned 967.99 g/t Gold Equivalent or AuEq (29.72 oz/t Gold, 97.19 oz/t Silver) (link to image). The occurrence remains open in all directions.

• GD21-002 will also target an inferred second splay ~200 m to the east, from which 2019 and 2020 grab samples returned up to 115.86 g/t AuEq.

• The quartz-sulphide intercept in GD21-002 is located 85 meters along strike to the south of the Lower Waterfall Showing, where a 2020 channel sampling yielded 13.05 g/t AuEq over 15.1 meters. GD21-001 is 110 meters south of the Lower Waterfall Showing.

• Drill core from both GD21-001 and GD21-002 were sent to the ALS laboratory facility in North Vancouver for assaying.

• A third hole (GD21-003) from the same drill pad as GD21-001 and -002, will be drilled to the southwest to a depth of 150 meters to constrain the geometry (true width and orientation) of the quartz-sulphide veining at the Cliff Showing midway between both previous drill holes approx. 30 meters down-dip, and also to collect a bulk sample for metallurgical work.

• Additional fan drilling is also planned for the adjacent Lower and Upper Waterfall, Main, Central and North Rubble Showings of the Surebet Zone.

• Up to 5000 meters of drilling are planned and will target the extensive high grade gold-silver discovery from the exposed quartz-sulphide and sulphide occurrences along strike and to depth (link to video).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; it only indicates the presence of Silver in the drill core. Assay results are pending.

TORONTO, July 19, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report a significant quartz-sulphides intercept from the second drill hole, GD21-002, on the Company’s 2021 maiden diamond drill campaign at its 100% controlled Golddigger Property (the “Property”). The campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1,000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone (“Surebet” or the “Project”). Currently the Surebet zone averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au) based on 2020 channel sampling. Surebet also has 500 meters of vertical relief and 1,000 meters of inferred down dip extent. The Project is in a mining friendly jurisdiction in a world class geological setting near Stewart B.C. in the Golden Triangle. Both the Homestake Ridge Deposit (Fury Gold Mines) and Dolly Varden Silver Mine (Dolly Varden Silver Corp.) are in close proximity.

Dr. Quinton Hennigh, technical advisor to Goliath commented: “This second hole confirms observations from the first hole. The Surebet Zone appears to display significant width, comprised of intense quartz-sulphide vein breccias and stockwork. We are starting the drill program near the southern end of exposure. Further to the south, it remains open but is covered by talus. Once done with the third hole from this pad, we will move systematically northward to fan drill the zone along nearly 1 km strike. This will provide a definitive picture of the continuity and consistency of this robust zone. We then plan to test the zone down dip for further confirmation. We look forward to watching how this exciting new discovery develops.”

“We are extremely thrilled that our 2021 maiden drill campaign continues to be producing outstanding intersections of highly mineralized drill core”, stated Roger Rosmus, Founder & CEO, “The Cliff Showing is currently being drilled, and we believe this may be the origin of a fresh angular float sample recovered in 2019 that assayed 967.99 g/t AuEq or 29.72 ounces per tonne Gold and 97.19 ounces per tonne Silver”.

GD21-002 (planned 350 meters, 050°/-55°) is being drilled at the Cliff Showing and on the same drill pad as GD21-001, but with a northeast orientation. GD21-002 targeted 90° counter-clockwise of GD21-001 to maximize the intersected span on the quartz-sulphide intervals (approx. 30 meters). The hole was also planned to drill north of two 2018-2019 grab samples (9.03 & 115.86 g/t AuEq) with semi-massive galena associated with a 10 cm wide easternmost splay (NNW-trending inferred) at a depth of app. 350 meters in downhole length.

Veins of the common sulphide assemblage are present from 29.0 to 52.0 meters* for a total of 23.0 meters, enveloping intense quartz-sulphide vein breccias from 31.4 to 37.0 meters* and 40.0 to 40.7 meters*:

• The upper vein breccia, from 31.4 to 37.0 meters*, contains >80% quartz, pyrrhotite (magnetic iron sulphide), sphalerite (zinc sulphide), galena (lead sulphide), chalcopyrite (copper sulphide) and bornite (enriched copper sulphide), very similar in appearance to upper vein intercept of GD21-001;

• The second vein breccia, from 40.0 to 40.7 meters* consists predominantly of white quartz with abundant dendritic black material, which based on Goliath’s Portable XRF* spot counts returning over 5,000 g/t Ag, which may be ?native silver?

• Link to images (Click Here).

Both GD21-001 and GD21-002 undercut an area approximately 35 meters below surface of the southernmost Cliff Showing; GD21-002 intersected mineralization approximately 25 meters north of the former. The Cliff Showing previously yielded a fresh angular float sample assaying 967.99 g/t AuEq (29.72 oz/t Gold, 97.19 oz/t Silver), and is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

Previous drill hole GD21-001 (138 meters in length, 140°/-70°) cut 57.5 meters* of quartz-sulphide veins bound by two distinct and significant multi-meter quartz-sulphides stockwork breccias. The 3.4 meters* upper vein contained visually identified 10% centimeter-scale banded, clustered and disseminated sulphides, including (in decreasing order) iron sulphides as pyrrhotite, zinc sulphides as sphalerite, lead sulphides as galena and copper sulphides as chalcopyrite; followed by 8.9 meters* of strong 40-50% vein stockwork of similar composition as the upper vein. The 11.4 meters* lower vein showed similar brecciation and sulphide assemblages as the upper vein. The host sediments contained 1 to 2% disseminated and stringer pyrrhotite with local enrichments of up to 5% (link to images).

The third hole on the Surebet Zone, GD21-003 (targeted length of 150 meters, 220°/-70°), is being drilled to the southwest from the same drill pad as the first two holes in order to constrain the geometry (true width and orientation) of the quartz-sulphides veining at the Cliff Showing midway between the two previous drill holes and approximately 15 meters down-dip, and also to collect a bulk sample for metallurgical work.

Goliath has planned for up to 5,000 meters of fan drilling from multiple drill pads to target the extensive gold-bearing quartz-sulphide veining at Surebet both along strike and to depth from surface exposures at the Lower Waterfall, Waterfall, Main, Central and North Rubble Showings. Surface sampling has outlined 1,000 meters of strike length, 500 meters of vertical relief and 1,000 meters of inferred down-dip extent. The drilling will focus on testing the continuity at depth of the high-grade gold-silver mineralization zone exposed at surface averaging 9.84 meters wide at 10.68 g/t AuEq (with 7.59 g/t gold) which remains open (see Company news release dated November 25, 2020).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; it only indicates the presence of Silver in the drill core. Assay results are pending.

QA-QC Protocols

Oriented HQ-diameter diamond drill core from the Surebet drill campaign is placed in core boxes by the drill crew of a company contracted by Goliath. Core boxes are transported by helicopter over a 15 kilometer distance to the Kitsault staging area, and then transported by truck approximately 500 metres to the Goliath core shack. The core is then re-constructed, meterage blocks are checked, meter marks are labeled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit^TM.

Drill holes were planned using Leapfrog Geo^TM and QGIS^TM software and data from the 2019 and 2020 exploration campaigns, the 2021 airborne Mag and VLF-EM geophysical survey, and an in-house lineament study incorporating observed folds, axial planes, geologic contacts, dykes swarms, cleavages, and all significant lineaments/structures.

Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 – 1.5 metres. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a plastic bag with an ALS sample tag. Standards, blanks and pulp duplicates were added in the sample stream at a rate of 10%. Samples are transported in rice bags sealed with numbered security tags. Goliath personnel drives samples from Kitsault to Terrace and a transport company takes them from there to the ALS lab facilities in North Vancouver. At ALS, samples are processed, crushed, and pulverized before analysis using the ME-ICP41, Ag-AA61 and Au-ICP22 methods. Overlimits are re-analyzed using the ME-OG-46, Ag-GRA, Ag-AA62 and Au-GRA22 methods. If Gold is higher than 5 g/t, ALS will re-analyze using Metallic Screening (Au-SCR24C) method.

Golddigger Property

The Property has an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is located in the world class geological setting of the Golden Triangle area on tide water 30 kilometers southeast of Stewart, BC.

Surebet is located some 8 kilometres southwest of the Homestake Ridge project which is a high-grade gold-silver deposit that contains 982,700 oz of gold @ 4.99 g/t Au and 19,600,000 oz of silver @ 97.7 g/t Ag, with drill intercepts of up to 73 meters of 21 grams per tonne gold and 12 grams per tonne silver (source – Fury Gold Mines PEA & Website) (Link to Map).

At Surebet, multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1,000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 g/t AuEq (with 7.59 g/t gold) with 1 kilometer (1,000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill campaign. Higher grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying up to 0.5 g/t AuEq (Link to news November 25, 2020).

Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2km of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

– Infinite Ore to Refocus on Jackpot Lithium Project –

VANCOUVER, BC / ACCESSWIRE / July 19, 2021 / Infinite Ore Corp. (the "Company" or "Infinite") (TSXV:ILI)(OTCQB:ARXRF) announced today that it has entered into a non-binding Letter of Intent ("LOI") with Trillium Gold Mines Inc. (TSXV:TGM) ("Trillium") whereby Trillium will acquire, subject to certain terms and conditions, all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt near Red Lake, Ontario (the "Proposed Transaction").

Under the Proposed Transaction upon signing of a definitive agreement Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash payment commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project covers 19,438 hectares between the Fredart, Garnet Lake, Confederation North, and Confederation South properties.

J.C. St-Amour, President of Infinite Ore, commented, "The Proposed Transaction will give Infinite exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area as well as allow us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. This project is proximal to Rock Tech Lithium's Georgia Lake lithium project. Rock Tech's intention to build a lithium processing facility in the area considerably changes the dynamics of the Jackpot project. That, coupled with the renewed market interest and growing demand for lithium, has compelled us to redouble our exploration on Jackpot. Keeping our capital structure in mind, today's proposed transaction would allow us to explore the potential of Jackpot without further shareholder dilution and still enable us to participate in the upside of Trillium's work in the Red Lake Mining District."

The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is situated approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li₂O and 750,000 tons at 1.38% Li₂O*. The Company recently completed a magnetic survey on Jackpot to identify structures on the property that would assist in locating high priority lithium targets for future drilling to add to the existing historical resources.

Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.

ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Infinite Ore Corp.

View source version on accesswire.com:
https://www.accesswire.com/655997/Infinite-Ore-Signs-Loi-With-Trillium-Gold-to-Sell-Interest-in-Eastern-Vision-Project-in-Red-Lake

Figure 1

2021 Drill Holes Completed

TORONTO, July 19, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) is pleased to report on drill progress at the Wawa Gold Project, including the discovery of new mineralized zones, extension of the Minto Mine South deposit and additional evidence of the continuity of the Surluga resource down plunge.

Highlights of the 2021 drilling program (Tables 1 and 2, Figure 1)

• Discovery of a new mineralized structure near the Surluga Mine Shaft containing 3.31 g/t gold over 4.91 metres including 14.70 g/t gold over 1 metre.

• Discovery of a shear zone with networks of mineralized veins above the Surluga Deposit containing 3.99 g/t gold over 4.00 metres including 12.80 g/t gold over 1.00 metre.

• Discovery of a down-dip extension of the Minto Mine South vein in SD-21-297A 75 metres down-dip of its last know location (assays are pending).

• Successful intersection of the Jubilee Shear Zone in SD-21-296A and SD-21-297A showing the continuity of the structure 440 metres away from the current boundary of the resource (assays are pending).

“Following the consolidation of the Wawa Gold Project by Red Pine just over three months ago, the Company entered into an extremely competitive marketplace for drill contractors. These conditions have resulted in a longer ramp-up in drilling productivity than originally planned; however, we are pleased with the changes made by our drilling contractor to achieve expected drilling standards.

Red Pine commenced the 2021 exploration program with one drill, and we are pleased to announce that we now have three drills on site with two operating and the third awaiting confirmation of a drill crew. The Company aims to catch up on its drilling plans and be in a position to accelerate the program through 2021. These additional drills should result in a consistent flow of drilling results both from the main deposits at Surluga and Minto Mine South, and from the high priority new target areas at Darwin Grace and the Hornblende Shear once we commence the respective drilling.

The exploration team also progressed surface exploration activities on and adjacent to the recently acquired War Eagle claims, as well as on the southern extension of the Grace Shear Zone. Assays remain pending from these activities.” – Quentin Yarie, President and CEO.

Figure 1- 2021 Drill Holes Completed
https://www.globenewswire.com/NewsRoom/AttachmentNg/10049c81-3163-41cc-ae4a-40be26d80b07

Diamond Drilling

As part of its on-going 2021 exploration drilling program, Red Pine has completed four drill holes, two of which were abandoned at shallow surface on account of too much deviation at the collar of the holes, which would have resulted in the drill holes missing their intended targets in the Jubilee Shear Zone. Two of the completed holes were testing an under-explored area of the Jubilee Stock between the Hornblende and Jubilee Shear Zone near the Surluga mine shaft. The other two drill holes were testing the down-dip extensions of the Minto Mine South and Surluga deposits. Assays remain pending for the lower part of SD-21-296A and for the entirety of SD-21-297A.

Exploratory drilling below the Surluga deposit, near the shaft and workings of the historic Surluga Mine resulted in the discovery of new zones of mineralization between the Jubilee and the Hornblende shear zones of variable width and grade content. The geometry and continuity of these zones are not constrained. Drilling in the southern extension of the Surluga deposit led to the discovery of the potential down-dip extension of the Minto E Shear Zone in which Red Pine obtained significant drilling results in 2017 that included 31.20 g/t gold over 1.02 metres in SD-17-99. Additional drilling will however be necessary to confirm the association between the zone discovered in SD-21-296A and the Minto E Shear Zone.

The Jubilee Shear Zone was successfully intersected in both holes SD-21-296A and 297A, confirming the extension of the structure 440 metres away from the current boundary of the Surluga Deposit resource. Hole SD-21-297A also discovered the extension of the Minto Mine South vein 75 metres down-dip of the current boundaries of the Minto Mine South Deposit resource.

Table 1 – Significant drilling intersections from the 2021 drilling program

Table 2 – Coordinates of the reported holes

Surface Exploration

In parallel to its diamond drilling program, Red Pine conducted a prospecting and surface mapping program on and within the surroundings of the War Eagle claims acquired in April 2021. In addition, Red Pine also prospected the southern extension of the Grace Shear Zone and other showings of the property with limited or little recent exploration work conducted.

Field mapping and prospecting on and around the War Eagle claims identified numerous shear zones with visual indicators suggesting the presence of gold mineralization. This includes quartz shear veining, pyrite and arsenopyrite mineralization, and areas of strong biotite or white micas alteration. Field mapping was also successful at confirming the southern extension of the Grace Shear Zone 125 metres along strike of the southernmost extension of the underground workings of the Darwin-Grace mine.

On-site Quality Assurance/Quality Control ("QA/QC") Measures

Drill core samples were transported in security sealed bags for analyses at Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and then shipped. The residual coarse reject portions of the samples remain in storage if further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

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 and base-metals 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.

It is hard to get excited after looking at Endeavour Mining's (TSE:EDV) recent performance, when its stock has declined 3.2% over the past month. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Stock prices are usually driven by a company’s financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Specifically, we decided to study Endeavour Mining's ROE in this article.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for Endeavour Mining

How To Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for Endeavour Mining is:

5.1% = US$225m ÷ US$4.4b (Based on the trailing twelve months to March 2021).

The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.05 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Endeavour Mining's Earnings Growth And 5.1% ROE

On the face of it, Endeavour Mining's ROE is not much to talk about. Next, when compared to the average industry ROE of 16%, the company's ROE leaves us feeling even less enthusiastic. Given the circumstances, the significant decline in net income by 17% seen by Endeavour Mining over the last five years is not surprising. However, there could also be other factors causing the earnings to decline. For instance, the company has a very high payout ratio, or is faced with competitive pressures.

So, as a next step, we compared Endeavour Mining's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 29% in the same period.

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is EDV fairly valued? This infographic on the company's intrinsic value has everything you need to know.

Is Endeavour Mining Using Its Retained Earnings Effectively?

In spite of a normal three-year median payout ratio of 45% (that is, a retention ratio of 55%), the fact that Endeavour Mining's earnings have shrunk is quite puzzling. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.

Only recently, Endeavour Mining stated paying a dividend. This likely means that the management might have concluded that its shareholders have a strong preference for dividends. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 21% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 12%, over the same period.

Summary

Overall, we have mixed feelings about Endeavour Mining. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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.

Toronto, Ontario–(Newsfile Corp. – July 15, 2021) – Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") announces its Annual General Meeting ("AGM") on Thursday, July 29, 2021 will now be held at 3:00 pm EDT at Maritime's Toronto office at 19^th Floor, 110 Yonge Street, Toronto, Ontario.

In response to the public health impact of COVID-19 and variants, and to mitigate risks to the health and safety of its shareholders, employees and local communities, Maritime is urging shareholders not to attend the AGM in person.

Registered shareholders and duly appointed proxy holders may participate in the AGM via a live conference call. Registered shareholders and duly appointed proxy holders who have properly registered prior to the AGM as outlined below will be able to ask questions of management via the conference call at the conclusion of the AGM.

Shareholders should vote on the matters before the AGM by proxy or voting instruction form prior to the proxy cut-off on Tuesday, July 27, 2021 at 3:00 pm EDT.

Joining the AGM

In order to participate in the AGM, registered shareholders and duly appointed proxy holders must register via the following link prior to the proxy cut-off at 3:00 pm EDT on Tuesday, July 27, 2021.

Registration link: https://event.cwebcast.com/ses/vXDojfy5CSfSXUyEDKY_iw~~

After you register, you will be provided with call in details including a Conference ID and your PIN. Please note that phone networks are currently very busy due to the global pandemic, and it is recommended that you attempt to connect at least fifteen minutes prior to the scheduled start time of the AGM.

Registered shareholders and duly appointed proxy holders who regard their physical attendance at the AGM as essential are asked to contact Lorna MacGillivray, Corporate Secretary at 416 304-9093 or lorna@maritimegold.com prior to 3:00 pm EDT on Tuesday, July 27, 2021 so that appropriate measures can be put in place to facilitate physical distancing and other precautions or alternative participation arrangements made to ensure the health and safety of all attendees. Maritime will follow the guidance and orders of Provincial and Federal public health authorities in that regard, including those restricting the size of public gatherings.

AGM Materials

Shareholder materials for the AGM were filed and mailed to shareholders on July 2, 2021, and can be found on Maritime's website via the following link:

https://www.maritimeresourcescorp.com/investors/agm/

About Maritime Resources Corp.

Maritime holds a 100% interest- directly and subject to option agreements entitling it to earn 100% ownership- in the Green Bay Property. This includes the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King's Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000 and 2004. The Company also owns the gold circuit at the Nugget Pond metallurgical facility in Newfoundland and Labrador, the Lac Pelletier gold project in Rouyn Noranda, Québec and several other exploration properties and royalty interests in key mining camps across Canada.

On Behalf of the Board:

Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:

Tania Barreto (Shaw), CPIR
Head of Investor Relations

1900-110 Yonge Street, Toronto, ON M5C 1T4
info@maritimegold.com
www.maritimeresourcescorp.com

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Facebook
LinkedIn
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Caution Regarding Forward Looking Statements:

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include statements concerning the potential to increase mineral resource and mineral reserve estimates, the Company's decision to restart the Project, the Company's plans regarding depth extension of the deposit at Hammerdown, the Company's plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company's plans regarding drilling targets previously identified, the anticipated timing of receiving permits for construction and development of Hammerdown and, and the Company's decision to acquire new mineral property interests and assets, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether the acquisition of assets and new mineral property interests including the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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/90317

TORONTO, July 15, 2021 /CNW/ – Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") announced that it is inviting shareholders to submit any questions they may have about LAURION and its business strategy, projects and current exploration activities. Any such questions should be directed to management at info@laurion.ca.

In addition to wanting to stay connected with its shareholder base, this invitation is aimed at increasing transparency and knowledge of the Corporation, particularly in light of the fact that, due to technical difficulties beyond its control, LAURION was unable to proceed with a planned Q&A session following its Annual and Special Meeting of Shareholders on July 6, 2021 (the "Meeting").

As announced on July 7, 2021, all of the matters considered by shareholders at the Meeting were approved. For further details regarding these matters, please refer to the Corporation's management information circular dated May 27, 2021, which can be found under LAURION's profile on SEDAR at www.sedar.com.

Exploration Update

The Corporation also announces that the assay results from its current drilling and channel sampling programs are delayed by seven to eight weeks due to sample preparation and assay processing delays at the assay laboratories. Once these results are available, they will be announced as part of the next exploration update regarding LAURION's flagship Ishkoday Project.

About LAURION

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 233,473,342 outstanding shares of which approximately 79% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

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

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, and management's objectives, strategies, beliefs and intentions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

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

SOURCE Laurion Mineral Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2021/15/c4761.html

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

VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka Gold" or the “Company") (TSX-V: LPK, FRA: LQP) announces that the Company has closed the non-brokered private placement previously announced on June 23, 2021 (the “Placement”).

The Company issued 4,000,000 units at a price of $0.05 per unit for gross proceeds of $200,000. Each unit consists of one common share of the Company (“Share”) and one transferable common share purchase warrant (“Warrant Share”) entitling the holder to purchase an additional common share of the Company at a price of $0.10 for a period of three years from the closing (the “Placement”). All Shares issued and Warrants Shares (if exercised prior to November 15, 2021) are subject to a hold period expiring four months and one day from the closing date of the Placement in accordance with applicable securities laws. Closing of the Placement is subject to final acceptance by the TSX Venture Exchange.

In connection with the subscriptions received the Company expects to pay finders’ fees in the amount of $10,000 in cash. No insiders participated in this Placement.

The proceeds of the Placement will be used to pay ongoing operating costs as the Company continues to pursue its litigation against the Republic of Peru and to support review of potential new properties.

This news 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, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

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

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

DENVER, CO / ACCESSWIRE / July 14, 2021 / Gold Resource Corporation (NYSE American:GORO) (the "Company") today announced preliminary second quarter 2021 production results.

Second Quarter 2021 Production Highlights

• 9,685 gold equivalent ounces ("Au eq oz") sold, inclusive of 5,697 gold ounces ("Au oz") and 270,321 silver ounces ("Ag oz"),

• 365 tonnes of payable copper,

• 1,214 tonnes of payable lead, and

• 3,193 tonnes of payable zinc.

Allen Palmiere, President and CEO, said "Gold production in the second quarter was as expected while silver and base metal production remain modestly behind forecast. We continue to address challenging ground conditions with a change in mine sequencing and the use of paste fill. We remain confident in our annual production guidance for gold equivalent ounces and our Total Cash and All-in Sustaining Costs."

Sales Statistics

Production Statistics

(1) Based on actual days the mill operated during the period.

(2) The difference between what we report as "Metal Production" and "Metal Sold" is attributable to the difference between the quantities of metals contained in the concentrates we produce versus the portion of those metals actually paid for according to the terms of our sales contracts. Differences can also arise from inventory changes related to shipping schedules, or variances in ore grades and recoveries which impact the amount of metals contained in concentrates produced and sold.

Second Quarter Conference Call Reminder

As a reminder, the Company will issue a news release providing a summary of its financial and operating results for the second quarter ended June 30, 2021 on Tuesday, July 27, 2021 after the market close, file its 10Q with the financial and operating results for the period ended June 30, 2021 with EDGAR and host a conference call on Wednesday, July 28, 2021 at 11:00 a.m. Eastern Time.

The conference call will be recorded and posted to the Company's website later in the day following the conclusion of the call. Following prepared remarks, Allen Palmiere, President and Chief Executive Officer, Kim Perry, Chief Financial Officer and Alberto Reyes, Chief Operating Officer will host a live question and answer (Q&A) session. There are two ways to join the conference call.

To join the conference via webcast, please click on the following link:

https://www.webcaster4.com/Webcast/Page/2361/42039.

To join the call via telephone please use one of the following dial-in details:

Participant Toll Free: 877-545-0320
Participant International: 973-528-0016
Entry Code: 758194

Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.

About GRC:

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

CONTACT:
Ann Wilkinson
Vice President, Investor Relations and Corporate Affairs
Ann.Wilkinson@GRC-USA.com
www.GoldResourcecorp.com

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/655581/Gold-Resource-Corporation-Reports-Q2-2021-Production

In this article, we will take a look at the 10 best African stocks to invest in. You can skip our detailed analysis of these companies, and go directly to the 5 Best African Stocks to Invest In.

Africa, the world's second-largest continent, has become one of the most appealing developing countries in recent years, thanks to its rising GDP and increased economic activity. The African economy is worth over $2.6 trillion, with $6.6 trillion in annual consumer and sector spending. Nigeria ranked first with a GDP of $442.98 billion, followed by Egypt with $361.88 billion and South Africa with $282.59 billion. The country is home to well-known businesses such as MTN Group Limited (OTC: MTN), Naspers Limited (OTC: NPSNY), and Sasol Limited (NYSE: SSL).

Africa's abundant resources made the continent a hotbed of commerce and economic activity. According to an article by consulting firm McKinsey, Africa has enormous growth potential, with industrial output expected to reach $930 billion by 2025.

Africa and The Mining Industry

The stock market in Africa is dominated by mining businesses that allowed the continent to compete against its American counterparts Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), and Freeport-McMoRan, Inc. (NYSE: FCX). Africa is the fastest-growing area for foreign direct investments with over 30% of the global mineral resources. In 2019, Africa's mining exploration budget totaled $1.12 billion. In 2020, due to travel limitations and risk concerns amidst the COVID-19 pandemic, the exploration budget decreased by 10%. However, the region expects stronger metal demand and price increase as a result of the post-pandemic economic upswing due to the easing of the COVID-19 pandemic restrictions and vaccine rollouts.

Africa is home to some of the biggest names in the mining business, such as Sibanye Stillwater Limited (NYSE: SBSW). Sibanye Stillwater Limited is one of the best African stocks to invest in with a share price of $17.31. The company's share price soared 75% in the last twelve months.

The Rise in African Technology

Africa's technology sector is expanding at the same rate as its mining sector allowing the continent to compete with tech-heavy giants Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Apple, Inc. (NASDAQ: AAPL). In 2020, Africa reported a total of 643 tech clusters, with Nigeria, Egypt, Kenya, and South Africa hosting the most. According to an article released by Further Africa, Africa's internet economy is expected to be worth $180 billion in 2025, with e-based economic activity accounting for 5.2% of GDP.

Many African startups are relying on digital modernization to handle day-to-day issues such as M-Post. M-Post is a 2016 startup that allows its users to use their mobile phones as an official digital address service that allows more efficient distribution to remote areas. The clean-tech business EcoPost is another African startup that is gaining attention. Since its inception in 2010, the company has recycled over 2.5 million kg of plastic, which it converts into furniture, fence posts, and signposts, preventing it from decomposing or being eaten by termites.

One of the best African stocks to buy now in the tech industry is Naspers Limited (OTC: NPSNY). The company is well known for its technology and capital investing operating in over 130 countries. Shares of Naspers Limited climbed 1% over the last twelve months. The company operates in high-growth business sectors such as e-commerce and media platforms.

Photo by Jacques Nel on Unsplash

The African economy will continue to grow with its huge potential and major hedge funds and institutional investors look towards the region to benefit from the growth potential as they struggle to perform in established markets. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th, 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

In light of this, let’s analyze the best African stocks to invest in. We took into account hedge fund sentiment, analysts’ ratings, future growth catalysts, and fundamentals while choosing these stocks.

Best African Stocks to Invest In

10. Mix Telematics Limited (NYSE: MIXT)

We start our list of the 10 best African stocks to invest in with Mix Telematics Limited (NYSE: MIXT). The South African-based provider of fleet management service as a software solution was founded in 1995 and invented several AI-powered fleet solutions such as the MyMix Tracking. MyMix Tracking is an app that specializes in tracking drivers in real-time to self-correct dangerous driving behavior.

MIXT has a P/E of 22.50. Shares of MIXT jumped 74% over the last twelve months. On May 28, Canaccord Genuity maintained a Buy rating on Mix Telematics Limited's (NYSE: MIXT) and set a price target of $16.

Greystone Capital mentioned Mix Telematics Limited's (NYSE: MIXT) in its Q2 2020 investor letter:

9. DRDGOLD Limited (NYSE: DRD)

Ranking 9th in our list of 10 best African stocks to invest in is DRDGOLD Limited (NYSE: DRD). The South Africa-based gold producer was founded in 1895 and is one of the best African stocks to invest in with a market cap of $938 million. In 2020, South Africa’s Sibanye-Stillwater (NYSE: SBGL) acquired 12% interest in the company where the earnings will be used to support the early stages of phase 2 of the company's tailings retreatment project.

In the same year, the company produced a total of 174,385oz of gold. DRDGOLD Limited (NYSE: DRD) posted a decrease of 6% quarter-on-quarter in gold output to 1,328 kilograms. DRD shares currently have a P/E of 10.24. Shares of DRD jumped 10% over the last three months. On May 6, analysts from HC Wainwright & Co. maintained a Buy rating on DRDGOLD Limited (NYSE: DRD) and raised the price target to $19.25.

Like Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), Apple, Inc. (NASDAQ: AAPL), Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), and Freeport-McMoRan, Inc. (NYSE: FCX), DRDGOLD Limited (NYSE: DRD) is one of the best stocks to consider for long-term gains.

8. Harmony Gold Mining Company (NYSE: HMY)

Ranking 8th in our list of 10 best African stocks to invest in is Harmony Gold Mining Company (NYSE: HMY). The gold mining company is one of the largest in South Africa with a market cap of $2.46 billion. In 2020, the firm received clearance to purchase AngloGold Ashanti Limited's (JSE: ANG) remaining gold mining assets in South Africa for $300 million.

The mining company was founded in 1950 and operates over nine underground mines and many surface operations in South Africa. HMY shares currently trade for $3.91 and have a P/E of 10.16. The current dividend yield is 1.97%. Shares of Harmony Gold Mining Company (NYSE: HMY) jumped 2% over the last five days.

7. AngloGold Ashanti Limited (NYSE: AU)

AngloGold Ashanti Limited (NYSE: AU) ranks 7th in our list of 10 best African stocks to invest in. AngloGold Ashanti Limited was founded in 2004 and operates as one of the top global gold mining companies with headquarters in South Africa. Earlier this year metal company Sibanye Stillwater Limited (NYSE: SBSW) stated that combining Gold Fields Limited (NYSE: GFI) and AngloGold Ashanti Limited (NYSE: AU) would create one of the top gold mining corporations in the world, capable of dethroning industry leader Newmont Corporation (NYSE: NEM). However, they are still debating on a possible merger, and it is not yet finalized.

AngloGold Ashanti Limited (NYSE: AU) posted basic earnings per share of $203 million or 48 cents per share in the first quarter of 2021. The company's revenue from product sales in the first quarter of 2021 came in at $979 million in the first quarter of 2021, an increase from $905 million in the same period of 2020. Shares of AU jumped 4% over the last five days. On March 8, HSBC analyst Leroy Mnguni upgraded AngloGold Ashanti Limited (NYSE: AU) to a Hold rating from a Reduce rating with a $24 price target.

Like Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), Apple, Inc. (NASDAQ: AAPL), Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), and Freeport-McMoRan, Inc. (NYSE: FCX), AngloGold Ashanti Limited (NYSE: AU) is one of the best stocks to consider for long-term gains.

6. Gold Fields Limited (NYSE: GFI)

Johannesburg, South Africa-based Gold Fields Limited (NYSE: GFI) ranks 6th in our list of the 10 best African stocks to invest in. Gold Fields Limited operates one of the biggest gold mining firms worldwide. Gold Fields Limited (NYSE: GFI) continues to expand its services to meet the market's growing demand.

The company currently has a market cap of $8.4 billion. In the first quarter of 2021, the company reported a revenue of $1.7 million. Shares of GFI jumped 2% over the last five days. On May 24, RBC Capital maintained a Sector Perform rating on Gold Fields Limited (NYSE: GFI) and raised the price target to $10.75.

Like Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), Apple, Inc. (NASDAQ: AAPL), Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), and Freeport-McMoRan, Inc. (NYSE: FCX), Gold Fields Limited (NYSE: GFI) is one of the best stocks to consider for long-term gains.

Click to continue reading and see the 5 Best African Stocks to Invest In.

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Disclosure: None. 10 Best African Stocks to Invest In is originally published on Insider Monkey.

ENDEAVOUR TO ANNOUNCE ITS Q2 AND INTERIM 2021 RESULTS ON 4 AUGUST 2021

London, 14 July 2021 – Endeavour Mining plc (LSE: EDV) (TSX:EDV) will release its Q2 and interim 2021 financial results on Wednesday 4 August, before the LSE market open.

Management will host a conference call and webcast on the same day, Wednesday 4 August, at 8:30 am ET / 1:30 pm BST to discuss the Company's financial results.

The conference call and webcast are scheduled at:
5:30am in Vancouver
8:30am in Toronto and New York
1:30pm in London
8:30pm in Hong Kong and Perth

The webcast can be accessed through the following link:
https://edge.media-server.com/mmc/p/j5h3ojje

Analysts and investors are also invited to participate and ask questions using the dial-in numbers below:
International: +44 (0) 2071 928338
North American toll-free: +18778709135
UK toll-free: +44 (0) 8002796619

Confirmation Code: 2858954

The conference call and webcast will be available for playback on Endeavour's website.

Click here to add a Webcast reminder to your Outlook Calendar

CONTACT INFORMATION

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

Attachment

• Endeavour Q2 results notification

Vancouver, British Columbia–(Newsfile Corp. – July 12, 2021) – Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to report that it has commenced the exploration program on the Thundercloud gold property (the "Property") announced on July 5. The Property is in the Archean Manitou-Stormy Lakes Greenstone belt that is 80 kilometers long by 30 kilometers wide, in Western Ontario. Close to 30 million ounces of gold have been discovered in the area in recent years and there are several large-scale mining operations in close proximity to the Property.

Several kilometers of the logging road leading to the Property had been washed-out and are now repaired and restored over the past week by the Company. Equipment and machinery were transported to the Property to begin trenching. A technical team has been mobilized.

The new trenching program focuses on two areas in the West Contact Zone. The first trench site is centered on the Glatz outcrop where previous sampling returned 8.02 g/t over 39 meters. Dynasty confirmed and extended the gold zone with 30 meters of chip sampling from the Glatz outcrop which yielded on average 3 g/t gold. Trenching on this target is to determine the full extent of the mineralization at surface and its trend in order to effectively test the zone.

The second trench site is 400 meters south of the first trench site and it is designed to follow up gold anomalies found in previous soil and rock sampling programs as well as to determine the nature of a property-scale fault that was discovered in past work programs but never tested. The fault terminates the southward trending "Timiskaming-type" sediments on the Property. Similar sediments are known to be spatially associated with large gold deposits elsewhere in the Archean Superior Province including the Timmins, Kirkland Lake, Larder Lake, Malartic and Pickle Lake gold camps.

The new data from trenching and the drone-supported magnetic survey combined with the historical IP, Magnetic and geochemical data should produce new drill targets for the next phase of exploration.

Gold mineralization in the West Contact Zone has an association with the QFP dykes. The mineralized dykes suggest that this mineralization is post felsic volcanic flows and pre late QFP dykes. It is further suggested that this brackets the gold event temporally and spatially to the Thundercloud porphyry.

This press release was reviewed by Andrew Tims, a Qualified Person under the definition of National Instrument 43-101.

About Thundercloud Property

The Thundercloud Property is located in the Archean Manitou-Stormy Lakes Greenstone belt in Western Ontario, 47 kilometers southwest of Dryden. The geological setting is comparable to the Abitibi Greenstone Belt in Eastern Ontario but the Thundercloud Property is much less explored. The Belt contains numerous gold showings, several deposits and high grade historic past producers. Regionally, exploration results indicate excellent potential to define bulk-tonnage orogenic gold mineralization, as close to 30 million ounces of gold have been discovered in recent years in the area, including several large-scale mining operations nearby.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in greenstone belts in Ontario and the Midas gold camp in Nevada. Currently, the 70% owned Hatu Qi2 gold mine in the Tien Shan Gold belt, Xinjiang, China, is in a legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. Ltd.

For more information, please visit Company's website www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.

"Ivy Chong"

_________________________________
Ivy Chong, President & CEO

For additional information please contact:
Vancouver Office:
Ivy Chong
Phone: 604.633.2100. Email: ichong@dynastygoldcorp.com

This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept 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/90055

Figure 1

Plan View of the Guayabales Project and the Donut Target

Figure 2

Plan View of the Donut Mine Showing the Grade Ranges for Channel Sampling Assay Results

Figure 3

Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization as chalcocite with pyrite.

Figure 4

Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization as chalcocite with pyrite.

TORONTO, July 12, 2021 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to provide an exploration update on its Guayabales Project located in Caldas, Colombia. The project is situated contiguous, immediately along strike and to the northwest of Aris Gold’s Marmato gold mine, which contains proven and probable reserves of 2.0 million ounces gold and 4.35 million ounces silver (19.7 Mt grading 3.2 g/t gold and 6.9 g/t silver). The Company interprets the abundant precious metal mineralization encountered throughout the Guayabales Project to be related to a series of copper-gold porphyry intrusions hosted within the project tenements which could be partially responsible for the mineral endowment of the Marmato gold mine.

Highlights (Table 1 and Figures 1-3)

The Company´s initial channel sampling campaign at the Donut target (“Donut”) within the Guayabales Project has returned high-grade gold and silver assay results from a shallow underground tunnel. Mapping of this tunnel has exposed a gold-copper porphyry stockwork of veinlets with overprinting polymetallic vein systems. Additionally, the mineralized zone outlined by channel sampling results announced herein displays excellent grade continuity with results as follows:

Table 1: Channel Sampling Results*

*The Company’s channel sampling program consists of continuous two metre samples taken along the exposed walls of the underground historical mine workings

Further channel sampling is in progress to cover all areas of the underground workings and the target remains open to the north, north-west, east and at depth. The Company is planning to drill test the Donut target beginning in late August 2021.

“We are off to a very exciting start at the Guayabales project. The robust and continuous high-grade channel sampling results validate our geological model for the property. We look forward to initiating a first-ever drill program at the Donut target,” commented Ari Sussman, Executive Chairman.

Geological Description of the Donut Target

The Donut target is located in the south-east portion of a major north-west trending structural corridor hosting a cluster of mineralized outcropping copper-gold-molybdenum porphyry intrusions. Shallow underground workings have exposed large zones of porphyry veining hosting various copper sulfides including chalcopyrite, chalcocite and lesser bornite associated with occasional molybdenite and abundant pyrite. This zone extends for over one kilometre to the Olympus target where gold-silver (base-metal) vein systems are extensive.

Donut displays a graduation from sericite-chlorite to an inner zone of intense potassic alteration (secondary biotite and lesser magnetite) with abundant porphyry style B-veins noted. This porphyry body is enveloped by a large scale (+1.5 km) and continuous anomalous zone of in-situ and coincidental gold, copper and molybdenum soil anomalism. The veinlet and stockwork system overprint displays a distinct Au-Ag (base metal) association. Historical artisanal mining has targeted both porphyry and vein/stockwork systems.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc. in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock samples have been prepared and analyzed at Actlabs laboratory facilities in Medellin, Colombia and Toronto, Canada. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

About Collective Mining Ltd.

Collective is an exploration and development company focused on identifying and exploring prospective gold projects in South America. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales project. The 3,780-hectare San Antonio Project is located in a historical gold district in the Caldas department of Colombia. With recent geophysical and LIDAR surveys completed, an initial 5,000 metre drill program is underway at the project with initial assay results anticipated in Q3, 2021. The 3,333-hectare Guayabales Project is also located in the mining friendly Caldas department of Colombia. The Guayabales Project is currently undergoing aggressive surface exploration and is expected to begin a maiden drill program in late August 2021.

Contact Information

Collective Mining Ltd.
Paul Begin, Chief Financial Officer
Tel. (416) 451-2727

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the maiden drill program, including timing of results, and Collective’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Figure 1: Plan View of the Guayabales Project and the Donut Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/a75dfaf1-2892-46b3-bd33-864213324462

Figure 2: Plan View of the Donut Mine Showing the Grade Ranges for Channel Sampling Assay Results
https://www.globenewswire.com/NewsRoom/AttachmentNg/142e7bbf-ac83-443d-b8a9-de053da5cedc

Figure 3: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization as chalcocite with pyrite.
https://www.globenewswire.com/NewsRoom/AttachmentNg/64d07396-96ed-4f02-90a9-26af9b958033

Figure 4: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization as chalcocite with pyrite.
https://www.globenewswire.com/NewsRoom/AttachmentNg/a21f4be7-eb7c-415e-a537-72590c064c49

Highlights:

• The inaugural drill hole GD21-001 (138 meters in length, 140°/-70°) at the Surebet Zone intersected 57.5 meters* of quartz-sulphide veins bound by two distinct and significant multi-meter-scale quartz-sulphide stockwork breccia (link to images).

• The 3.4 meters* upper vein contains visually estimated 10% centimeter-scale banded, clustered and disseminated sulphides, including pyrrhotite, sphalerite, galena and chalcopyrite; underlain by 8.9 meters* of strong stockwork breccia formed by 40-50% veining of similar composition to the upper vein (link to image).

• A Portable XRF Silver count of 20+g/t was outlined in a section of the lower vein at 85 meter downhole depth along thin fractures containing a dendritic metallic mineral (link to image).

• The 11.4 meters* lower vein shows similar brecciation and sulphide assemblages as the upper vein (link to image).

• GD21-001 undercut an area approximately 30 meters below surface of the southernmost Cliff Showing of the Surebet Zone, which in 2019 yielded an angular fresh float grab sample assaying 967.99 g/t Gold Equivalent or AuEq (29.72 oz/t Gold, 97.19 oz/t Silver) that remains open in all directions (link to image).

• GD21-001 is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

• A second hole, GD21-002, currently being drilled to the northeast from the same pad, has intercepted the same quartz-sulphide mineralization structure at 33 meters approximately 30 meters north of GD21-001 and currently still in mineralization (link to image).

• Additional fan drilling is also planned for the adjacent Lower Waterfall, Waterfall, Main, Central and North Rubble Showings of the Surebet Zone.

• Up to 5000 meters of drilling are planned and will target the extensive high grade gold-silver discovery from the exposed quartz-sulphide and sulphide occurrences along strike and to depth.

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system.

TORONTO, July 12, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report initial observations from its 2021 maiden diamond drill campaign at its 100% controlled Golddigger Property (the “Property”). The campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1,000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone (“Surebet”). Currently the Surebet zone averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au). Surebet also has 500 meters of vertical relief and 1,000 meters of inferred down dip extent. The project is located in a mining friendly jurisdiction in a world class geological setting near Stewart, BC in the Golden Triangle of British Columbia. Both the Homestake Ridge Deposit (Fury Resources Inc.) and Dolly Varden Silver Mine (Dolly Varden Silver Corp.) are in close proximity.

Dr. Quinton Hennigh, technical advisor to Goliath commented: “Immediate visual confirmation of mineralization in the first hole drilled into a target is one of the most rewarding experiences in exploration. Although assays are required to confirm grade, this first drill hole provides Goliath with its first detailed picture of the geology of the Surebet zone, and it is a very exciting one. The zone appears comprised of two sub-parallel quartz-sulphide vein breccia to intense stockwork zones with an intervening interval of sulphide stockwork mineralization between. Overall width of observed mineralization is a remarkable 57.5 meters. Given the large scale of the Surebet zone and should assays from drilling confirm those encountered during last year’s channel sampling, this could prove to be a significant new discovery in the Golden Triangle.”

“This first drill hole of our 2021 maiden drill campaign has exceeded our expectations,” stated Roger Rosmus, Founder & CEO. “These new sulphide intercepts could potentially have all the makings of the next big high grade gold-silver discovery in the Golden Triangle. This is the first of many holes to be drilled along our 1,000 meters of the surface exposed mineralization on Surebet that remains open. We look forward to reporting the assay results once received and interpreted.”

The inaugural drill hole GD21-001 (138 meters in length, 140°/-70°) cut 57.5 meters* of quartz-sulphide veins along, bound by two distinct and significant multi-meter quartz-sulphides stockwork breccias (link to image). The 3.4 meters* upper vein contains visually identified 10% centimeter-scale banded, clustered and disseminated sulphides, inluding (in decreasing order) iron sulphides as pyrrhotite, zinc sulphides as sphalerite, lead sulphides as galena and copper sulphides as chalcopyrite; followed by 8.9 meters* of strong 40-50% vein stockwork of similar composition as the upper vein. The 11.4 meters* lower vein shows similar brecciation and sulphide assemblages as the upper vein. The host sediments contain 1 to 2% disseminated and stringer pyrrhotite with local enrichments of up to 5%.

GD21-001 undercut an area approximately 35 meters below surface of the southernmost Cliff Showing of the Surebet Zone, which yielded a fresh angular float sample assaying 967.99 g/t AuEq (29.72 oz/t Gold, 97.19 oz/t Silver), and is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

A second hole, GD21-002, is currently being drilled at the Cliff Showing with a northeast orientation and has intersected, approximately 30 meters north of GD21-001, similar quartz-sulphide veining starting at 30 meters downhole depth. Additional fan drilling is also planned for the adjacent Lower Waterfall, Waterfall, Main, Central and North Rubble Showings of the Surebet Zone.

Goliath has planned for up to 5,000 meters of drilling from multiple drill pads to target the extensive gold-silver discovery exposed at surface at Surebet both along strike and to depth. It has 1,000 meters of strike length, 500 meters of vertical relief and 1,000 meters of inferred down dip extent. The drilling will focus on examining the continuation at depth of the high-grade gold-silver mineralization zone exposed at surface over 1,000 meters of strike averaging 9.84 meters wide at 10.68 g/t AuEq (with 7.59 g/t gold) which remains open (see Company news release dated November 25, 2020).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system.

Golddigger Property

The Property has an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is located in the world class geological setting of the Golden Triangle area on tide water 30 kilometers southeast of Stewart, BC.

Surebet is located some 8 kilometres southwest of the Homestake Ridge project which is a high-grade gold-silver deposit that contains 982,700 oz of gold @ 4.99 g/t Au and 19,600,000 oz of silver @ 97.7 g/t Ag, with drill intercepts of up to 73 meters of 21 grams per tonne gold and 12 grams per tonne silver (source – Fury Resources Inc. PEA & Website) (Link to Map).

At Surebet, multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1,000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 g/t AuEq (with 7.59 g/t gold) with 1 kilometer (1,000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill campaign. Higher grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying up to 0.5 g/t AuEq (Link to news November 25, 2020).

Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2km of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Energy Fuels (UUUU) closed at $5.41 in the latest trading session, marking a +1.31% move from the prior day. This move outpaced the S&P 500's daily gain of 1.13%.

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Figure 1

Location of Metallurgical Samples

TORONTO, July 08, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces it will be filing an updated NI 43-101 Technical Report including updates to the ownership structure, land position, additional drilling and surface exploration results as well as positive results from metallurgical test work. The resource statement in this report remains unchanged due to insufficient additional drill data.

Highlights of the metallurgical study:

• CIL cyanidation and gravity recoverable gold average of 90.3% for representative blends of the gold bearing mineralization forming the bulk of the resource of the Surluga Deposit.

• Flotation and gravity recoverable gold average of 93.3% for the localized domains of arsenopyrite-dominant mineralization in the Surluga Deposit.

• CIL cyanidation and gravity recoverable gold average of 95.4% for Minto mineralization forming the Minto Mine South deposit and locally present in the Surluga Deposit.

• The positive response of Surluga and Minto Mine South mineralization to conventional, industrially proven processes provides flexibility for project definition, design, and potential treatment of respective material types.

“We are pleased to have tested all mineralogy types currently pronounced in the Wawa Project resource and received back positive metallurgical results. The major resource, the Surluga Deposit, responds well to cyanidation, including the blends of pyrite and arsenopyrite bearing material that are representative of the majority of the higher-grade zones of the Surluga deposit. The tests have also proven that the domains with more abundant arsenopyrite (“APY”) are receptive to flotation resulting in 90% or higher recoveries in all cases.

The Minto deposit tests demonstrated recoveries in excess of 94%.

In summary our metallurgical work demonstrated that conventional processing methods provides flexibility and optionality in the selection of future processing options.” – Quentin Yarie, President and CEO.

Metallurgical study

Red Pine commissioned McClelland Laboratories Inc., located in Sparks, Nevada, to determine the amenability of gold mineralization in the Surluga and Minto Mine South deposits to CIL cyanidation and flotation treatment. The metallurgical study was conducted on a total of eleven (11) samples of quartered HQ drill core (Figure 1). Note that additional details of the metallurgical study will be filed and available on SEDAR.

Figure 1 – Location of Metallurgical Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/5485069a-b13f-4754-98a0-e58047c44e7d

In the Surluga deposit, gold mineralization principally occurs as arrays of quartz veins of different thickness associated with pyrite as the main sulfide (pyrite-dominant mineralization). Accessory to absent pyrrhotite and arsenopyrite, and minor to absent chalcopyrite, occasional native gold, sphalerite and galena complete the main mineral assemblage. Pyrite-dominant mineralization is absent from the Minto Mine South deposit.

In the Minto Mine South deposit, and in certain zones of the Surluga deposit, gold mineralization is associated with quartz-tourmaline veins with variable pyrite, accessory pyrrhotite, minor to trace chalcopyrite and common native gold.

A third style of gold mineralization has arsenopyrite as the main sulfide (arsenopyrite-dominant). It occurs as variably preserved relicts in the resource of the Surluga deposit, absent from the Minto Mine South deposit. Where observed in the Surluga deposit, its formed of zones with extremely deformed arsenopyrite with or without strong quartz veining. Within the Surluga deposit, primary arsenopyrite-dominant mineralization tends to be spatially restricted to discrete zones and is more commonly an accessory to larger volumes formed by pyrite-dominant and Minto mineralization.

For the metallurgical study, three (3) samples from the Minto Mine South deposit were selected to characterize Minto mineralization. Five (5) samples were selected in the Surluga Deposit to represent a blend of pyrite-dominant with accessory to absent arsenopyrite-dominant mineralization to characterize the most likely metallurgical behavior of gold mineralization during production. Three (3) samples were also specifically selected to characterize the metallurgical behavior of primary arsenopyrite mineralization that is locally preserved in discrete zones of the Surluga Deposit.

The individual samples weighed 2 kg to 37 kg and each sample was crushed to a nominal 10-mm. The 10-mm material was then blended and split using a riffle or rotary type splitter to obtain approximately 5 kg for crushing to 100%-1.7 mm. In the case of the two samples that weighed less than 5 kg (RPX-1 and RPX-8), the samples were crushed entirely to -1.7 mm. The -1.7-mm material was blended and split using a rotary type splitter to obtain four (4) replicated samples (typically 1.25 kg each). One of the replicated splits from each sample was further split to obtain duplicate 100-g splits for head analysis. Each of these splits was analyzed for gold and silver content by conventional fire assay fusion procedures. One of the duplicate splits from each sample was also used for an ICP metals scan and for sulphide sulphur analysis.

Agitated CIL cyanidation bottle roll tests

Agitated CIL cyanidation bottle roll tests were conducted on the selected samples. Following the leach cycle, slurries were screened to recover the metallic fraction which was assayed separately from the remaining tails. This was done to capture any residual gravity recoverable gold. Tests were conducted at an 80%-75 µm feed size with a 32-hour leach cycle.

Samples representative of the main zones of mineralization in the Surluga and Minto Mine South deposits generally were readily amenable to CIL cyanidation treatment at the 80%-75 µm feed size. For the three (3) samples representative of Minto mineralization, CIL cyanidation and gravity recoverable gold average of 95.4%. For the five (5) samples representative of the blends of pyrite-dominant with accessory to absent arsenopyrite-dominant mineralization types in the Surluga Deposit, CIL cyanidation and gravity recoverable gold average of 90.3 %. The three (3) samples selected to specifically characterize arsenopyrite-dominant mineralization in the Surluga Deposit yielded a range of CIL cyanidation and gravity recoveries between 48.9% to 78.2% (average of 61.2%).

Bulk Sulphide Flotation Testing

A rougher bulk sulphide flotation test was conducted on each of the 11 Surluga/Minto composite samples to determine the response to flotation treatment. Splits from each sample (typically 1.25 kg) were batch ground in a steel ball mill to produce an 80%-75um feed for leaching. Each ground ore charge was screened prior to flotation to recover a metallics fraction which was assayed separately from the flotation products.

Flotation was conducted using a Denver laboratory scale flotation unit at 1,200 rpm. Slurry solids density of the ground ore was adjusted to 33 weight percent solids. Flotation was conducted in 4 stages with 0.015 kg/mt ore of PAX (potassium amyl xanthate) added at each of stages 1 and 2 and 0.010 kg/mt ore of AERO 3477 promoter (dithiophosphate) added at each of stages 2 through 4.

Samples representative of the main zones of mineralization in the Surluga and Minto Mine South deposits were amenable to gravity recovery and bulk sulphide flotation at the 80%-75 µm feed size. For the three (3) samples representative of Minto mineralization, bulk sulphide flotation and gravity recoverable gold average of 95.6%. For the five (5) samples representative of the blends of pyrite-dominant with accessory to absent arsenopyrite-dominant mineralization in the Surluga Deposit, bulk sulphide flotation and gravity recoverable gold average of 86.6 %. For the three (3) samples selected to specifically characterize arsenopyrite-dominant mineralization in the Surluga Deposit, bulk sulphide flotation and gravity recoverable gold average of 93.3%.

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".

Red Pine is located in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,800 hectares in size. The Company is supported by Chairman of the Board Paul Martin, former CEO of Detour Gold and Directors boasting a high pedigree of experience at Alamos, Barrick, Generation Mining, Detour Gold, and the Ontario Energy Board. Led by CEO, Quentin Yarie, with over 25 years of experience in mineral exploration, Red Pine is strengthening its position by further validating its potential as a major resource and player in the Michipicoten region.

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

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.

Figure 1: Location of Geological Traces

Figure 1: Location of Geological Traces

Figure 2: Exploration Diamond Core Holes – Major Drilling

Figure 2: Exploration Diamond Core Holes – Major Drilling

Figure 3: Lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price cif China, Japan & Korea, $/kg (midpoint)

Figure 3: Lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price cif China, Japan & Korea, $/kg (midpoint)

VANCOUVER, British Columbia, July 08, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture:BRZ) (OTCQB:BLILF) is pleased to provide a Maricunga lithium resource expansion and finance activities update as announced by Minera Salar Blanco (“MSB”).

HIGHLIGHTS

• The latest drilling program on the Stage One mining concessions has been completed, with five exploration core holes (S-25, S-26, S-27, S-28 and S-29) each reaching target depth of 400m.

• Positive average lithium concentrations of 989 mg/l and a maximum of 3,375 mg/l, which confirm Maricunga as one of the richest deposits in Chile.

• Significant resource expansion expected for Stage One after the new drilling program tested the 200-400m mineralised zone.

• DFS update continues by Worley, GEA Messo and Atacama Waters.

• Preliminary indications of interest received from international financial institutions and private funds for debt financing and future equity financing of the project.

• Finance process will continue in coming months, with the Mitsui agreement announced on May 15 for Off-Take and Funding of the Stage One serving as a solid base.

• Review and certification processes initiated for ESG protocols. Proposals from specialised advisors are expected during Q3 to review all project information along with carbon footprint metrics.

As announced on 27 January 2021, the Company commenced additional exploration at the Maricunga Salar as part of the updated DFS for its Stage One Project with the aim of expanding the current Measured + Indicated (M+I) resource. This currently is measured from near surface to 200m depth, but recent drilling will also include the interval between 200m and 400m.

MSB has completed additional five diamond core holes to the target depth of 400m as scheduled. As a result, the resource update for the Stage One mining concessions will be based on:

• 5,257m drilled within 41 wells.

• 3 production wells and 4 long term pumping tests (more than 60 days in total).

• 1,194 brine samples analysed by Andes Analytical Assay, the University of Antofagasta in Chile and Norlab in Argentina.

• 501 undisturbed core samples taken for drainable porosity tests which were sent to Geosystems Analysis (GSA), Daniel B. Stephens and Associates, Corelabs and the British Geological Survey.

Positive results with average lithium concentrations of 989 mg/l and maximum values of 3,375 mg/l are shown in Table 1 below.

Table 1: Average Lithium and Potassium concentrations

Positive lithium/calcium/magnesium ratios have confirmed the world class nature of the Maricunga deposit (Table 2).

Table 2: Average lithium/calcium/magnesium ratios

Location of the different exploration and production wells, as well as of the geological traces are shown on Figure 1 below.

Figure 1: Location of Geological Traces is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77afb36a-4261-41d1-81d1-77eabd4c4c5f

A new Resource (M+I) estimate is in process, including the additional information to 400m depth, using SGeMS software as a base for the new Reserve estimate update which will be part of the updated DFS for Stage One. A significant resource expansion is expected to be between the range of 1.5x to 1.8x the 2019 values¹.

_______________
¹ Maricunga Definitive Feasibility Study (DFS), January 22^nd, 2019

Figure 2: Exploration Diamond Core Holes – Major Drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b5670be-6c99-4769-bc91-8025b44a628c

The DFS update continues to advance as planned by Worley (Engineering) and GEA Messo (Production Process). Several opportunities for optimisation have been identified in the engineering, with potential reduction also in the CAPEX of the project.

The Company has advanced further on its production process with significant efficiency increases. As part of the finance and commercial activities, new samples of high-quality battery grade Lithium Carbonate will be produced at GEA Labs in France for review by off-takers after the Basic Engineering is completed by the end of September. Purity is expected to be significantly higher compared with the original samples produced in 2018. They showed a 99.5% purity. Such an outcome would allow the Company to reach a wider spectrum of customers with different quality requirements in the future.

Financing activities have continued, with the Mitsui agreement for off-take and funding serving as a solid base.

A recovery in lithium prices, especially for battery grade lithium carbonate, along with the off-take agreed with Mitsui have had a positive impact on the expected level of leverage the project could support. The Company is now targeting a 50 per cent leverage for the project with a lower cost debt structure.

Lithium carbonate battery grade is now trading at $US14,000 per tonne in China, Japan and Korea, as shown below in Figure 3.

Figure 3: Lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price cif China, Japan & Korea, $/kg (midpoint) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f122894-2987-41f4-bdb5-aa6c5077ccf0

As EV roll-out intensifies and electrification becomes a significant focus for governments, the scrutiny of lithium producers’ initiatives to minimise environmental impacts have been growing.

Sustainability has always been the centre of the Maricunga project. The company has made important efforts to become one of the first Zero Emission lithium brine producers. That includes minimising the water consumption of the production process design (self-producing more than 30 per cent of water used); using electricity only produced by solar generators through long term power purchase agreements; and having strict protocols to ensure any negative impact on the area have provided an opportunity to set a high standard in the industry. Additionally, the social aspect has been important

to the Maricunga project, having received open and ongoing support from both indigenous and civilian communities. All of these aspects have been widely recognised by the Chilean authorities.

The Company has initiated the process to review and certify its Environmental Social and Governance protocols. Proposals from specialised advisors are expected to be received during Q3 for the review of all the project information, as well as its carbon footprint metrics.

MSB’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“We are pleased with the positive results to date. We look forward to continuing advancement on all fronts as we progress the Maricunga Stage One project towards a successful outcome.”

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.35% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 60 million has been invested in the Maricunga Project to date.

ON BEHALF OF THE BEARING LITHIUM BOARD

Signed "Gil Playford”
Gil Playford, Chairman
gplayford@bearinglithium.com

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

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved.. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are 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 uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.