It is hard to get excited after looking at IMPACT Silver's (CVE:IPT) recent performance, when its stock has declined 26% over the past three months. 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. Particularly, we will be paying attention to IMPACT Silver's ROE today.

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.

Check out our latest analysis for IMPACT Silver

How Is ROE Calculated?

ROE can be calculated by using the formula:

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

So, based on the above formula, the ROE for IMPACT Silver is:

3.9% = CA$2.3m ÷ CA$59m (Based on the trailing twelve months to December 2020).

The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.04 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

IMPACT Silver's Earnings Growth And 3.9% ROE

When you first look at it, IMPACT Silver's ROE doesn't look that attractive. Next, when compared to the average industry ROE of 14%, the company's ROE leaves us feeling even less enthusiastic. Therefore, it might not be wrong to say that the five year net income decline of 7.1% seen by IMPACT Silver was probably the result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. Such as – low earnings retention or poor allocation of capital.

However, when we compared IMPACT Silver's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 28% in the same period. This is quite worrisome.

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if IMPACT Silver is trading on a high P/E or a low P/E, relative to its industry.

Is IMPACT Silver Making Efficient Use Of Its Profits?

Summary

Overall, we have mixed feelings about IMPACT Silver. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 3 risks we have identified for IMPACT Silver visit our risks dashboard for free.

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

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

CRANBROOK, BC / ACCESSWIRE / May 6, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) and SKRR Exploration (CSE:SKRR) have received results from the 12-hole, 1674m (5,492') drill program recently completed on EPL's 100%-owned Olson property (the "Property"). SKRR may earn up to a 75% interest in the property over three years (option agreement details below). The Olson property area covers 5,038 ha located within the Trans Hudson Corridor 100 km east of La Ronge, Saskatchewan and 80km south of SSR Mining's Seabee Gold Operation. All 2021 work was fully funded by SKRR.

The current program was designed to follow up on results from a 2,981m (9,778') drill program completed on the property in Fall 2020, where 13 of the 18 of the drillholes intersected significant gold mineralization including new discoveries at the previously undrilled Point, Jena and Michael's Lake zones, high grade mineralization in a step out hole at the historic Olson Zone showing and wide intercepts of near surface mineralization at the Siskin Zone (see EPL News Releases February 4th, 2021 and March 25th, 2021).

The current program continued to demonstrate the near surface, large size potential of the Point Zone with significant widths of gold mineralization. The Point Zone shows good continuity in width and often with narrow higher-grade intervals. New highlights include:

• OL21019: 50.24m @ 0.41 g/t Au (3.23m – 53.47m), including:

  • 6.25m @ 1.15 g/t Au (35.75m – 42.00m)

• OL21020: 39.5m @ 0.37 g/t Au (2.66m – 42.16m), including:

  • 12.61m @ 0.60 g/t Au (20.00m – 32.61m)

• OL21023: 7.04m @ 0.43 g/t Au (36.46m – 43.50m), and

  • 9.02m @ 1.16 g.t Au (67.53m – 76.55m), including:

  • 4.55m @ 1.59 g/t Au (72.00m – 76.55m)

Drill results at the Olson Zone continue to show encouragement and demonstrate well developed thickness with higher grade intervals. The Olson Zone is open in all directions. Significant intersections include:

• OL21025: 13.1m @ 0.89 g/t Au (32.22m – 45.32m), and:

  • 8.41m @ 0.72 g/t Au (122.47m – 130.88m)

• OL21026: 11.04m @ 0.61 g/t Au (48.63m – 59.67m) and:

  • 29.44m @ 1.30 g/t Au (105.04m – 134.48m), including:

  • 10.21m @ 2.95 g/t Au (120.11m – 130.32m), including:

  • 5.54m @ 4.12 g/t Au (121.69m – 127.23m), including:

  • 0.78m @ 14.55 g/t Au (126.45m – 127.23m)

Other Winter Program Drilling Highlights

• 9 of 12 holes completed intersected significant mineralization

• New Gold Discovery: First hole completed at Ackbar Lake, drill hole OL21029, returned 0.75g/t over 8.12m, including 2.39g/t over 1.4m;

• Mineralized Core: 92 of the 717 core samples collected returned greater than 0.5 g/t Au, with 38 samples greater than 1 g/t Au.

See Olson regional map here

Winter 2021 Drill Results

SKRR completed 12 holes (1674m, 5,492') of diamond drilling that tested the Point (6 holes), Olson (4 holes), Michael's Lake and Ackbar zones (1 hole each), all located in the central part of the property. One hole was abandoned due to rapidly deteriorating ice conditions.

See Olson property map here

Analytical results ranged from trace values to broad low grade and narrow higher-grade intercepts, as summarized below.

Select Drill Results Table:

* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

See Olson Zone map and drill collar locations here

Drill holes OL21019 – 23, and OL21031 tested the shear-vein systems associated with the contact between granodiorite and meta-sediments at the Point showing, where 2020 drilling returned 39.80m of 1.09g/t Au including 1.53m of 13.80 g/t Au in DDH OL2004.

OL21019-21, 30m step back holes from OL20004, intercepted broad zones of gold mineralization that extend from granodiorite at surface across the contact with the metasediments. Hole OL21019 intercepted 0.41 g/t Au over 50.24m, including 1.15 g/t Au over 6.25m and 2.85 g/t Au over 1.54m. Hole OL21020 intercepted 0.37 g/t Au over 39.50m, including 0.6 g/t Au over 12.61m and 1.25 g/t Au over 2.10m. Hole OL21021 intercepted 0.42 g/t Au over 14.50m, including 3.17 g/t Au over 0.94m.

OL21022, a 50m step-out south along strike from holes OL21019-21 returned a best intercept of 3.02 g/t Au over 1.00m from 19.55-20.55m.

OL21023, a 50m step-out north along strike from holes OL21019-21 intercepted two zones of gold mineralization. The upper interval returned 0.43 g/t Au over 7.04m, including 2.29 g/t Au over 0.59m associated with arsenopyrite/pyrrhotite stringer veins within the Brownell Lake Pluton. Mineralization in the lower interval was associated with a granodiorite dyke, and returned 1.16 g/t Au over 9.02m, including 4.1 g/t Au over 1.26m.

OL21031, a 75m step-out north along strike from OL21023, returned 0.39g/t Au over 15.15m.

Drill holes OL21025 – 26, and OL21030 were drilled at the Olson Zone. Hole OL21025 was drilled as a 65m step-out to the west along strike from hole OL20017, which returned 9.64 g/t Au over 1.23m. It intercepted two significant zones of gold mineralization. The upper interval returned 0.89 g/t Au over 13.10m, including 3.67 g/t Au over 2.49m, associated with sericite alteration in metabasalt. The lower interval returned 0.72 g/t Au over 8.41m associated with up to 1% vein-hosted and disseminated arsenopyrite.

Hole OL21026 was drilled to infill an 150m gap in historic drilling at the Olson showing. The hole intercepted well developed quartz veining and silicification and returned 1.30 g/t Au over 29.44m, including 4.12 g/t Au over 5.54m and 14.55 g/t Au over 0.78m.

Hole OL21029, the first hole ever drilled at the Ackbar Lake Zone, was designed to test a large soil anomaly. It returned 0.75 g/t Au over 8.12m, including 2.39 g/t Au over 1.40m, with mineralization hosted in diorite with up to 1% vein-hosted and disseminated arsenopyrite.

Tim Termuende, P.Geo., President and CEO commented recently on the results: "We are extremely encouraged by the results to date at the Olson Project and congratulate SKRR for their confidence and perseverance and the TerraLogic exploration team for their excellent work to date. The presence of consistent high grade gold mineralization identified at the Olson Zone and low-grade, bulk-tonnage gold mineralization discovered at the Point and Ackbar Zones confirms the overall potential of the Olson Project and bodes well for further exploration and potential resource development. We look optimistically forward to future exploration of the property."

Sherman Dahl, CEO, SKRR Exploration stated: "Our Olson drilling was ambitiously designed to test the size potential of the Olson gold system. It was successful on all fronts. The presence of consistent high grade gold mineralization identified at the Olson project confirms the overall potential growing into a significant resource".

Olson Project Summary

The Olson project area overlies regionally sheared, highly strained meta-volcanic and intrusive rocks which are considered to be prospective for orogenic gold mineralization. The property is host to 29 mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of diamond drilling, with the last drilling reported in 2008. Historical drilling at Olson Lake has intersected 7.5 m grading 2.07 g/t Au including 13.00 g/t Au over 0.65 m, and grab samples of up to 105.52 g/t Au have been collected at the Kalix occurrence. 2018-2019 fieldwork completed by Eagle Plains and a previous partner consisted of a detailed compilation of historical data, geological mapping, soil geochemical work and prospecting. The fall 2020 drill program at the Olson intersected significant gold mineralization including new discoveries at the previously undrilled Point, Jena and Michael's Lake zones, high grade mineralization in a step out hole at the historic Olson showing and wide intercepts of near surface mineralization at the Siskin Zone. The project is considered to be significantly underexplored, with known gold occurrences open at depth and along strike. Some results are historical in nature and have not been confirmed by Eagle Plains/SKRR but are considered to be reliable and will form a basis for ongoing work.

QA/QC

Geological and geotechnical logging and core sampling were completed at a facility on the Olson property. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire Assay – Gravimetric finish (Au-GRA21).

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Olson Drilling Program included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM's from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values.

Olson Option Agreement Details

Under the Agreement, SKRR may earn-in up to a 51% interest in the Property by making certain staged cash payments, share payments of common shares in the capital of SKRR to Eagle Plains and exploration expenditures over a period as follows: (i) $10,000 in cash upon execution of a letter of intent in respect of the Transaction (received); (ii) $20,000 in cash and 200,000 common shares upon TSXV approval of the Transaction (received); (iii) $40,000 in cash, 200,000 common shares and $200,000 in exploration expenditures on or before December 31, 2020 (received); (iv) $80,000 in cash, 200,000 common shares and $500,000 in exploration expenditures on or before December 31, 2021; and (v) $100,000 in cash, 200,000 common shares and $800,000 in exploration expenditures on or before December 31, 2022.

SKRR may earn-in up to a an additional 24% (75% total) interest in the Property by making additional exploration expenditures of $1,500,000 on the Property and issuing 200,000 common shares of SKRR to Eagle Plains on or before December 31, 2023.

Iron Range Project Update

Eagle Plains has received an anniversary cash payment of $15,000 from its option partner (an arm's length private Alberta company ("the Company")), related to an option agreement on Eagle Plains' 100% owned Iron Range Project located near Creston, in Southern British Columbia. Eagle Plains has also recently received final data/reporting/interpretation from the 2020 Iron Range field program, wholly funded by the Company. 2020 work at the Iron Range included soil, rock, and stream sediment geochemistry, a Quantum Geoelectrophysics (QGEP), or Quantum Direct Matter Indicator (QDMI) non conventional geophysical survey, and 10 hole, 738m diamond drilling program. Although the results from the 2020 work are inconclusive, further work has been recommended to continue to advance the Iron Range project.

Under terms of the option agreement as announced May 5th, 2020, the Company holds the exclusive right to earn up to a 60% interest in the Iron Range Project (the "Project") from Eagle Plains over a five-year period by incurring $3,500,000 in exploration expenditures and making $250,000 in cash payments to Eagle Plains. The Company retains the right to increase its interest to 80% by making a one-time cash payment of $1,000,000 to Eagle Plains.

Management of Eagle Plains considers the Iron Range project to hold excellent potential for the presence of both iron-oxide copper-gold ("IOCG") and Sullivan-style lead-zinc-silver sedimentary-exhalative ("sedex") mineralization. The Iron Range property covers an area of approximately 10km x 60km which overlies the regional Iron Range Fault System ("IRFS"). Prior to the acquisition and initial involvement of Eagle Plains in 2001, the property had seen little systematic exploration for other than iron resources known to exist on the property since the late 1800s. Since 2001, Eagle Plains and its partners have completed 17,964m in diamond-drilling in 70 holes, collected 2482 line-km of airborne and surface geophysical data and analysed 10,078 soil geochemical samples, 498 rock samples and 5749 drill core samples.

Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold, 1.86% lead, 2.1% Zinc, 75.3g/t silver and 7.1m grading 8.13g/t gold, 2.84% lead, 3.07% zinc, 86.6g/t silver (Eagle Plains news release December 21st, 2010). Previous drilling 10km north of the Talon Zone in 2008 by Eagle Plains intersected gold mineralization in drill-hole IR08006 which assayed 7.0m grading 51.52g/t (1.50 oz/ton) gold (Eagle Plains news release dated April 20th, 2009).

Qualified Persons

The four-week program at the Olson was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Services of Cranbrook, B.C. and relied extensively on support services and personnel from the town of Deschambault Lake, SK for which we express our gratitude. The Iron Range drill program was supervised by Kerry Bates, P.Geo. Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

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

SOURCE: Eagle Plains Resources Ltd.

View source version on accesswire.com:
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VANCOUVER, BC / ACCESSWIRE / May 6, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX|OTCQB:GCXXF) ("Granite Creek" or the "Company") announces that Kluane Drilling has mobilized two diamond drill rigs to the Carmacks copper-gold-silver project (formerly Carmacks and Stu projects), in Central Yukon, Canada, for immediate commencement of the Company's 2021 drill campaign. The program will consist of up to 10,000 meters of drilling focused on upgrading inferred resources to indicated, as well as step out drilling aimed at delineating new resources where the deposit remains open to expansion.

Granite Creek's 2021 drill program follows up on the Company's highly successful inaugural drill program, completed in November 2020, which encountered 127 meters of 0.85% Copper Equivalent ("CuEq") at Carmacks Zone 13, and 4.6 meters of 7.51% CuEq at Carmacks North Zone A. Priority targets for this year's program will include the underlying sulfide potential at Carmacks Zone 1 (see figures below), Carmacks Zones 2000S, 12, and 13, as well as following up on last year's success at Carmacks North Zone A.

Carmacks Zone 1 hosts a portion of the overall 23.76 million tonnes of the current mineral resource estimate¹ and remains open at depth and along strike. While the oxide portion of Zone 1 has been well defined and is categorized in the Measured and Indicated category, only approximately half of the underlying sulfide resource is in the Measured and Indicated category, while the remainder is classed as Inferred. Starting at only 200m from surface, the sulfide in Zone 1 has the potential to add additional tonnage to the contained resources and could become a part of an updated economic study. Results from the 2020 and 2021 drill programs are anticipated to be included in an updated NI43-101 mineral resource estimate for the project.

Figure1 – Long-section of historical drill intercepts in sulfide portion of Carmacks Zone 1

Figure 2 – Cross-section A-A through northern portion of Carmacks Zone 1

Table 1 – Highlight sulfide historical drill intercepts of mineralization in Carmacks Zone 1

^*Length of intercept is drilled width not true width of zone. Resource modelling shows true width of the zone to vary from 20-50m

^**Copper equivalent (CuEq) values assume Cu $3/lb, Au $1800/oz, Ag $18/oz, Mo $10/lb, and 100% recovery.

Granite Creek President & CEO, Tim Johnson, commented, "We continue to aggressively advance the Carmacks project, with its attributes of high-grade, near-surface copper, gold, and silver mineralization in an underexplored district-scale land position, and with the support of rising copper prices as we begin a new bull market commodity cycle. The project is part of the Minto Copper Belt that hosts a high-grade operational mine with roads, power and port infrastructure already in place within a top Canadian mining jurisdiction. We see a number of exciting opportunities to optimize the resource on the project, and excellent potential to expand the known high-grade copper mineralization zones – which remain open along strike and at depth – as well as to make significant new discoveries at a number of major untested targets. Our Carmacks deposit currently contains 446 million pounds Cu, 237,000 ozs Au and 2.4M ozs Ag^1,2 in NI 43-101 M&I mineral resources, and we see the potential for a multi-billion-pound-scale copper system."

"Given the early start of the drill program, assay results should be released throughout the summer as they become available. In the ensuing weeks our geological team will assess the feasibility of running a second phase drill program later in the season. We look forward to the exciting exploration season ahead and to providing additional updates."

COVID-19 Protocols

Granite Creek has worked closely with the Yukon government to develop a COVID-19 safety plan that enables the Company to implement an effective work plan while maintaining the highest degree of safety of our workers and surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in which work in the highest regard.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.

Qualified Person

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Granite Creek Copper Ltd.

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https://www.accesswire.com/645088/Granite-Creek-Copper-Announces-Start-of-10000-Meter-Drill-Program-at-Carmacks-Copper-Gold-Silver-Project-in-Yukon-Canada

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) announced that the nominees listed in the Management Information Circular for the 2021 Annual Meeting of Shareholders were elected as directors of First Quantum. In total, 582,519,893 shares were voted at the meeting, representing 84.38% of the issued and outstanding shares of the Company. Detailed results of the vote for the election of directors held at the Annual Meeting on May 6, 2021 are set out below. The below results have also been filed on www.SEDAR.com.

For further information, visit our website at www.first-quantum.com or contact:

Lisa Doddridge, Director, Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: info@fqml.com

/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) for gross proceeds of up to $200,000. Closing of the Offering is expected to occur on or about Jun 11, 2021.

The Offering shall be composed of (i) 3,000,000 flow-through shares (“FT Shares”) at a price of $0.05 per FT Share for gross proceeds of up to $150,000; and (ii) 1,000,000 hard dollar units (“HD Units”) at a price of $0.05 per HD Unit for gross proceeds of up to $50,000. Each HD Unit shall be composed of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.07 per Common Share until the date which is twenty-four (24) months following the closing date of the Offering, whereupon the Warrants will expire. Each FT Share shall be composed of one Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) (the “Tax Act”).

Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”) and applicable securities regulatory authorities. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. In connection with the Offering, the Company may pay commissions to eligible persons in accordance with the policies of the Exchange.

The proceeds raised from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) to pay for assay results on over 2,000 meters of drill core from the Company’s Good Hope Niobium Project near Marathon, Ontario and to fund the Company’s other properties in Ontario, Canada. The proceeds raised from the sale of the HD Units will be used for general working capital purposes and for exploration expenses on the Company’s properties.

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

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.

The Timmins, Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.

In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.

The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon, Ontario with the primary target being niobium.

The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake and Grain Township, near Marathon, Ontario of which 19 claims are contiguous to the western boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation Mining’s Sally deposit.

For additional company information, please visit: www.platogold.com.

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

For further information, please contact:

Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com

Forward Looking Statements

This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, completion of the Offering, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals may offset operating costs and future plans and objectives. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained; and an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

VANCOUVER, British Columbia, May 06, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY), is pleased to acknowledge receipt of a grant of $60,138 from the Province of Newfoundland and Labrador towards exploration work completed in 2020 on the Company’s Critical Rare Earth Element (CREE) claims located near the communities of St. Lewis and Port Hope Simpson in Southeastern Labrador.

Greg Andrews, President and CEO of Search Minerals states, “Search is very appreciative of the Junior Exploration Assistance Program (“JEA”) funds granted by the Province of Newfoundland and Labrador Department of Natural Resources. These funds allowed us to hire local personnel and continue to explore and advance the Critical Rare Earth Element District (the “District”) in 2020. The Company controls a belt 63 km long and 2 km wide and there are still 20 showings within this belt to be assessed and maintained.”

The highlights of the 2020 field season

• FOX MEADOW: current channel program indicates that the SW mineralized zone is at least 175m wide and the NE mineralized zone is at least 110m wide;

• FOX MEADOW: this project requires an expanded 2021 channeling/trenching program to sample the extended length and width indicated in the 2020 exploration program;

• AWESOME FOX: the 2020 and previous channel programs indicate that mineralization within the UAV magnetic anomaly is at least 850m long and 5-20m thick;

• SILVER FOX: new channels outline a high-grade zirconium-hafnium mineralized zone that is up to 1.2 km long and 1-10m thick. SILVER FOX is located just west of the FOXTROT DEPOSIT;

Andrews added: “We are preparing for our upcoming 2021 drill and exploration program, which will include approximately 7000m of drilling at Deep Fox to commence in June. The drill program is fully funded with our recent $ 2,520,000 flow-through funding completed in April 2021. We will also continue our exploration work at Silver Fox and Fox Meadow, to bring these prospects to “Drill Ready” status.”

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX MEADOW, AWESOME FOX and SILVER FOX as new CREE prospects very similar to and in close proximity to FOXTROT and DEEP FOX.

Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

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.

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — Plateau Energy Metals Inc. (“Plateau” or the “Company”) (TSX-V:PLU | OTCQB:PLUUF) advises that, the Company and two of its officers have received a Notice of Hearing together with a Statement of Allegations from staff of the Ontario Securities Commission (the “OSC”) announcing the commencement of regulatory proceedings to consider whether the Company and such officers engaged in conduct that warrants the OSC making an order against them.

The Statement of Allegations consists of allegations consistent with those contained in notices previously received and announced in the Company’s press release dated March 15, 2021, and relates to the Company’s public disclosure in 2019 regarding the status of the Company’s title to 32 mineral concessions in Peru and whether the Company met its obligations related to continuous disclosure, associated filings and related activities. The 32 mineral concessions at issue were the subject of the Company’s March 2, 2021, press release.

Plateau remains of the view that it has complied with all of its disclosure obligations, and it intends to defend the allegations in the administrative proceedings.

The transaction with American Lithium Corp. announced on February 9, 2021, is scheduled to close on or about May 11, 2021.

About Plateau Energy Metals

Plateau Energy Metals Inc., a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru, both of which are situated near significant infrastructure.

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

Forward Looking Statements

This press release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s response to the OSC, the Company’s view on its compliance with all of its disclosure obligations, the validity of the Company’s title to 32 mineral concessions in Peru, the timing and completion of the acquisition transaction with American Lithium Corp. (the “Arrangement”), project exploration and the Company’s business plans, expectations and objectives.

Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although the Company believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since the Company can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relating to the OSC proceedings, the view and expectations of the Company regarding the OSC proceedings, the Company’s ability to complete the Arrangement and the timing thereof, the Company’s ability to secure the necessary security holder and regulatory approvals required to complete the Arrangement; risks related to the satisfaction or waiver of certain conditions to the closing of the Arrangement; the Company’s ability to achieve its stated goals as a result of the Arrangement; the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Company or others to attempt to reduce the spread of COVID-19 could affect the Company, which could have a material adverse impact on many aspects of the Company's business including but not limited to: the Company’s ability to access its properties for indeterminate amounts of time, the health of its employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact the Company’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the Company’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to our properties, including the status of the “Precautionary Measures” filed by the Company’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions; exploration and laboratory work currently under way, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions, test work to advance the by-product evaluation at Falchani, the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which we operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of the Company's shares and could negatively affect the Company's ability to raise capital and may also result in additional and unknown risks or liabilities to the Company. Other risks and uncertainties related to our prospects, properties and business strategy are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021 and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Plateau cautions against placing undue reliance thereon. Except as required by applicable securities legislation, neither Plateau nor its management assume any obligation to revise or update these forward-looking statements.

Despite strong share price growth of 102% for Antofagasta plc (LON:ANTO) over the last few years, earnings growth has been disappointing, which suggests something is amiss. The upcoming AGM on 12 May 2021 may be an opportunity for shareholders to bring up any concerns they may have for the board’s attention. It would also be an opportunity for them to influence management through exercising their voting power on company resolutions, including CEO and executive remuneration, which could impact on firm performance in the future. From what we gathered, we think shareholders should be wary of raising CEO compensation until the company shows some marked improvement.

Check out our latest analysis for Antofagasta

How Does Total Compensation For Ivan Arriagada Herrera Compare With Other Companies In The Industry?

At the time of writing, our data shows that Antofagasta plc has a market capitalization of UK£19b, and reported total annual CEO compensation of US$3.9m for the year to December 2020. We note that's an increase of 60% above last year. We think total compensation is more important but our data shows that the CEO salary is lower, at US$589k.

On comparing similar companies in the industry with market capitalizations above UK£5.8b, we found that the median total CEO compensation was US$3.3m. From this we gather that Ivan Arriagada Herrera is paid around the median for CEOs in the industry.

On an industry level, roughly 65% of total compensation represents salary and 35% is other remuneration. In Antofagasta's case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. It's important to note that a slant towards non-salary compensation suggests that total pay is tied to the company's performance.

Antofagasta plc's Growth

Over the last three years, Antofagasta plc has shrunk its earnings per share by 13% per year. It achieved revenue growth of 3.4% over the last year.

The decline in EPS is a bit concerning. And the modest revenue growth over 12 months isn't much comfort against the reduced EPS. These factors suggest that the business performance wouldn't really justify a high pay packet for the CEO. Looking ahead, you might want to check this free visual report on analyst forecasts for the company's future earnings..

Has Antofagasta plc Been A Good Investment?

Most shareholders would probably be pleased with Antofagasta plc for providing a total return of 102% over three years. So they may not be at all concerned if the CEO were to be paid more than is normal for companies around the same size.

To Conclude…

While the return to shareholders does look promising, it's hard to ignore the lack of earnings growth and this makes us question whether these strong returns will continue. Shareholders should make the most of the coming opportunity to question the board on key concerns they may have and revisit their investment thesis with regards to the company.

CEO compensation can have a massive impact on performance, but it's just one element. That's why we did some digging and identified 1 warning sign for Antofagasta that you should be aware of before investing.

Switching gears from Antofagasta, if you're hunting for a pristine balance sheet and premium returns, this free list of high return, low debt companies is a great place to look.

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.

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So we'll take a look at whether insiders have been buying or selling shares in Stroud Resources Ltd. (CVE:SDR).

Do Insider Transactions Matter?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information.

We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But it is perfectly logical to keep tabs on what insiders are doing. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

See our latest analysis for Stroud Resources

The Last 12 Months Of Insider Transactions At Stroud Resources

Over the last year, we can see that the biggest insider purchase was by insider Eric Sprott for CA$3.0m worth of shares, at about CA$0.40 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.78. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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

Insider Ownership

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Stroud Resources insiders own 57% of the company, currently worth about CA$22m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About Stroud Resources Insiders?

There haven't been any insider transactions in the last three months — that doesn't mean much. But insiders have shown more of an appetite for the stock, over the last year. With high insider ownership and encouraging transactions, it seems like Stroud Resources insiders think the business has merit. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we've found that Stroud Resources has 3 warning signs (1 makes us a bit uncomfortable!) that deserve your attention before going any further with your analysis.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

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

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

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

GOLDEN, Colo., May 06, 2021 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) today provided financial results and a business summary for the quarter ending March 31, 2021.

First Quarter Summary Financial Results
(All currency expressed in approximate USD)

• Revenue $1.8 million, cost of metals sold $1.5 million and net operating margin $0.2 million in the first quarter 2021, all related to mining at the Company’s Rodeo gold-silver operations (the “Rodeo Property”). In the first quarter 2020, the Company recorded revenue of $1.2 million and a net operating margin of $0.6 million related to a lease of the Company’s oxide mill to Hecla Mining. That lease concluded on November 30, 2020.

• Cash and cash equivalents balance of $8.0 million as of March 31, 2021, compared to $9.7 million at year-end 2020 and $2.2 million as of March 31, 2020.

• Exploration expenses of $0.8 million compared to $1.6 million in the year ago period.

• Net loss of $3.2 million or $0.02 per share in the first quarter 2021, compared to a net loss of $3.3 million or $0.03 per share in the first quarter 2020.

First Quarter Business Summary

• Began processing material from the Rodeo mine at our Velardeña oxide plant in January 2021.

• Produced 1,559 gold equivalent ounces (“AuEq oz”) in doré and sold 1,054 AuEq oz. in doré, with the differential representing doré inventory at March 31, 2021 that will be recognized as sales in the second quarter 2021.

• Reported as-planned average start-up grades processed of 3.0 grams per tonne (“g/t”) gold and 14.3 g/t silver. Initiated a 2000-meter exploration drill program at Rodeo aimed at expanding the resource.

• Successfully commissioned the second ball mill and achieved full operational throughput at our Velardeña oxide plant in April 2021.

• Announced promising results from an initial drill program conducted at the district-scale Yoquivo gold-silver project (Chihuahua State, Mexico) and announced plans for a Phase II program which could begin in the second quarter 2021.

Warren Rehn, President and Chief Executive Officer of the Company, commented, “The first quarter of 2021 has been transformational for Golden Minerals, as we report results as a gold-silver producer for the first time since 2015. We are exceptionally pleased to have begun processing gold and silver from our Rodeo Property in January 2021. At the end of April, we surpassed our daily throughput goal at our oxide plant of 450 tpd with the successful commissioning of the second ball mill installed at the plant. We remain on track to achieve 2021 production guidance of 12,000-14,000 oz gold and 25,000-30,000 oz silver. We anticipate announcing further success as we anticipate reporting net income at the corporate level during the second quarter of 2021.”

First Quarter 2021 Financial Results

The Company reported revenue of $1.8 million in the first quarter 2021, all from the sale of gold and silver bearing doré bars from Rodeo operations in Mexico. Costs of metals sold, which include direct and indirect costs incurred to mine and process the products, were $1.5 million. Rodeo operations generated a positive net operating margin of over $0.2 million. Also during the first quarter, Golden received $1.8 million net of fees from equity sales under its existing At the Market Program (“ATM Program”) and $1.0 million from the exercise of warrants issued in past common stock offerings. Exploration expenses were $0.8 million in the first quarter, primarily reflecting exploration work at Yoquivo and the commencement of a drill program targeting resource expansion at Rodeo. The Company incurred $0.5 million in capital expenditures during the first quarter, primarily related to construction of a new regrind mill circuit related to the Rodeo Property. El Quevar project expense was $0.1 million in the quarter which includes costs of exploration and evaluation activities, care and maintenance and property holding costs, net of reimbursements from Barrick Gold under the terms of an Earn-In Agreement. Administrative expenses totaled $1.5 million in the first quarter 2021, including costs associated with being a public company that are incurred primarily by the Company’s corporate activities in support of the Rodeo Property, the Velardeña Properties, the Yoquivo project and the balance of the Company’s exploration portfolio. Golden reported a net loss of $3.2 million or $0.02 per share in the first quarter 2021 compared to a net loss of $3.3 million or $0.03 per share in the year ago period.

Twelve Month Financial Outlook

The Company ended the first quarter 2021 with a cash balance of $8.0 million and currently anticipates receiving approximately $13.0 to $15.0 million in net operating margin (defined as revenue from the sale of metals less costs of metals sold) from the Rodeo operation during the 12 months ending March 31, 2022. The Company’s currently forecasted expenditures during the 12 months ending March 31, 2022, apart from Rodeo costs of metals sold which are included in the net operating margin forecast, total $8.5 million and are as follows:

• $3.2 million on exploration activities and property holding costs associated with the Company’s portfolio of exploration properties located in Mexico, Argentina and Nevada, including project assessment and evaluation costs relating to additional exploration at Rodeo, Yoquivo and other properties;

• $0.5 million on capital expenditures related to the Rodeo Property;

• $0.6 million at the Velardeña Properties for care and maintenance;

• $0.5 million at the El Quevar project to fund care and maintenance and property holding costs, net of reimbursement from Barrick;

• $3.5 million on general and administrative costs; and

• $0.2 million related to an increase in working capital primarily related to increased inventories and receivables at the Rodeo operation.

Forecasted cash inflows do not include an anticipated second installment of $1.5 million due to Golden Minerals from Fabled Silver Gold Corp. in December 2021 under the terms of an agreement for the sale of the Company’s Santa Maria project. Rodeo estimates assume average realized metals prices of $1,800/oz gold and $25/oz silver.

Covid-19 Uncertainties

Activities at the Rodeo operation and the Velardeña Properties, including mining and processing, were not interrupted as a result of the pandemic during the first quarter 2021. The Company undertook several initiatives and installed multiple safety practices in 2020 in response to the pandemic and continues to carry out these initiatives and practices. The Company will continue to follow World Health Organization protocols at all its projects and offices. Business and financial projections are current as of the date of this news release but could be negatively impacted if business interruptions related to COVID-19 occur.

Additional information regarding first quarter 2021 financial results may be found in the Company’s 10-Q Quarterly Report which is available on the Golden Minerals website at www.goldenminerals.com.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS
(US Dollars, unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars, unaudited)

(1) Potentially dilutive shares have not been included because to do so would be anti-dilutive.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding the expected achievement of corporate profitability in the second quarter of 2021; financial projects related to net operating margin at the Rodeo operation; anticipated Phase II drilling program at Yoquivo; projected cash balances and anticipated spending during the 12 months ended March 31, 2022; and potential business restrictions and other matters related to the COVID-19 pandemic. These statements are subject to risks and uncertainties, including the overall impact of the COVID-19 pandemic, including the potential future re-suspension of non-essential activities in Mexico, including mining; lower than anticipated revenue or higher than anticipated costs at the Rodeo mine; declines in general economic conditions; changes in political conditions, in tax, royalty, environmental and other laws in the United States, Mexico or Argentina and other market conditions; and fluctuations in silver and gold prices. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
SOURCE: Golden Minerals Company

NEW YORK, May 5, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF), a lithium development and chemical technology company, has qualified to trade on the OTCQX® Best Market. Rock Tech Lithium Inc. upgraded to OTCQX from the Pink® market.

Rock Tech Lithium Inc. begins trading today on OTCQX under the symbol "RCKTF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

"The rapidly growing global electric vehicle and energy storage markets have significantly increased US-based investor interest in the battery supply chain, especially with respect to the critical minerals underpinning these new technologies," said Dirk Harbecke, Rock Tech's chairman. "We aim to broaden our reach within the North American investing community as we achieve several exciting milestones in the coming months."

Securities Law USA PLLC acted as the company's OTCQX sponsor.

About Rock Tech Lithium Inc.
A lithium development and chemical technology ("ChemTech") company, Rock Tech Lithium Inc. is building the bridge from resources-rich Canada to process-focused Europe, building Europe's first lithium hydroxide converter which will be primarily fed by its 100%-owned lithium project, strategically located in Ontario, Canada. Leveraging its proprietary, patent-pending LiOH production technology, Rock Tech will reduce energy consumption and waste, providing a secure, sustainable source of lithium.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-rock-tech-lithium-inc-to-otcqx-301284083.html

SOURCE OTC Markets Group Inc.

Devon Energy Corp. DVN reported first-quarter 2021 adjusted earnings of 45 cents, beating the Zacks Consensus Estimate of 35 cents per share by 28.6%. In the year-ago quarter, the company reported earnings of 13 cents per share.

GAAP earnings for the first quarter were 32 cents compared with 27 cents per share in the year-ago period.

Revenues

Total revenues of $1,762 million lagged the Zacks Consensus Estimate by 20.5%. The top line also declined 15.6% from the year-ago figure.

Devon Energy Corporation Price, Consensus and EPS Surprise

Devon Energy Corporation price-consensus-eps-surprise-chart | Devon Energy Corporation Quote

Production

Total net production for first-quarter 2021 touched 499,000 barrels of oil equivalent per day (Boe/d), up 43.4% year over year. Oil production averaged 268,000 barrels per day (Bbl/d), which increased 71.8% on a year-over-year basis, primarily due to strong contribution from Delaware and Williston Basin assets. Natural gas liquids production was also up 23.8% year over year.

Realized Prices

Realized oil prices for the quarter were $47.23 per barrel, down 5.1% from $49.73 in the year-ago period. Realized prices for natural gas liquids, however, were up 125.3% to $24.81 per barrel from $11.01 in the prior-year quarter.

Realized gas prices were up 75.8% to $2.76 per thousand cubic feet from $1.57 in the prior-year quarter.

Total oil equivalent realized prices — including cash settlements — were $34.67 per Boe, up 21.1% year over year.

Other Highlights

Total production expenses for the first quarter were $489 million, increasing 53.4% year over year. With capital programs focused on developing higher-margin production opportunities, oil and natural gas liquids volumes reached 74% of Devon Energy’s product mix for the quarter.

Financing costs for the reported quarter were $77 million, up from $65 million in the year-ago period.

Financial Highlights

As of Mar 31, 2021, the company had cash and cash equivalents including restricted cash of $1,878 million, up from $2,237 million as of Dec 31, 2020. It exited the first quarter with $4.9 billion of liquidity and no debt maturities till 2023.

As of Mar 31, 2021, long-term debt amounted to $7,042 million, up marginally from $4,298 million on Dec 31, 2020.

Devon Energy’s net cash from operating activities for first-quarter 2021 was $592 million, up 11.9% from the year-ago period.

Guidance

It expects total production for the second quarter in the range of 538,000-561,000 Boe/d.

Devon Energy’s oil production guidance for 2021 is projected in the range of 280,000-290,000 BBl/d. For 2021, total production is expected in the range of 529,000-559,000 Boe/d.

Capital expenditure for 2021 is expected within $1,720-$1,980 million, including upstream expenditure in the range of $1,600-$1,800 million.

Through cost-management initiatives, the company is on course to achieve cost savings of $600 million by 2021-end.

Other Releases

CNX Resources Corporation CNX reported first-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 28 cents by 28.6%.

Matador Resources Company MTDR reported first-quarter 2021 adjusted earnings of 71 cents per share, which surpassed the Zacks Consensus Estimate of 39 cents by 82.1%.

Hess Corporation HES reported adjusted first-quarter 2021 earnings per share of 82 cents, beating the Zacks Consensus Estimate of earnings of 44 cents by 86.4%.

Zacks Rank

Devon Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS), reports that the trench sampling programme is well underway at the Company’s Kettle Valley Gold project, located near Rock Creek, B.C. Excavation of trenches began April 28, with nine trenches dug to date, along with several test pits. Goldcliff has an option to earn a 100% interest in this newly recognized epithermal mineral occurrence.

The property is located on the west side of the Rock Creek graben, a major north-south regional structure. Local scale structures investigated to date appear to strike north-south, so trenches were excavated in an east-west direction, perpendicular to strike. The area of interest is in a recent clear cut on a hillside. Trenches commenced as high as possible and were excavated down the slope of the hill. Rock exposures on a cliff face above the cut-block show extensive alteration/silicification and are thought to be the source of much of the mineralized float.

The Kettle Valley Gold project is a newly recognized precious metals occurrence. There is no evidence of previous staking, prospect pits, trenches or drill pads. Already observed in just a few days of field work is quartz-carbonate veining and silicification in several rock units. Significant structural preparation and fracturing is also evident. Rock exposed to date display some of the characteristics of the abundant mineralized float material; quartz-carbonate veining, multiple episodes of veining and stockwork, adularia, and bladed calcite.

Trench excavation was completed on May 4. Bedrock mapping and sampling is on-going. Prospecting, mapping, and detailed rock sampling of the cliff areas above the trenches will soon be undertaken.

Wayne Murton, P. Eng, qualified person as defined by National Instrument 43-101 supervised the preparation and verification of the technical information contained in this release.

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

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

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

SUDBURY, ON / ACCESSWIRE / May 5, 2021 / Northern Superior Resources Inc. (TSXV:SUP) ("Northern Superior" or the "Company") and the Cree First Nation of Waswanipi ("CFNW") are pleased to announce that they have entered into a Mineral Exploration Agreement ("MEA") to facilitate the exploration of Northern Superior's 100% owned Lac Surprise gold exploration property. This MEA puts in place a framework for the CFNW and Northern Superior to work together before, during and after the Company's exploration activities within the CFNW traditional territory.

Dr. T.F. Morris, President and CEO of Northern Superior states: "We are very pleased for the opportunity to formally establish a working relationship with CFNW. Having both the support and involvement of the Community with our exploration program at Lac Surprise is key to the success of unlocking the mineral potential of the property".The progress of exploration activities for the Lac Surprise Property will be shared in real time with CFNW. I would like to thank Chief Happyjack as well as the council for their support in this process."

Deputy Chief Ronnie Ottereyes, Cree First Nation of Waswanipi states: "The protection and mitigation of sites of special wildlife interests is essential to the sustainability of our Cree way of life lived by active land users. The MEA will facilitate the consultation with active land users and sharing of traditional knowledge before, during and after the exploration activities are completed on the Lac Surprise property. Thanks to Mr. Morris' knowledge of Eeyou-Istchee, a working relationship was already growing with our Mining department making the tailoring and signing of the Lac Surprise MEA a formality. Meegwetch."

About Lac Surprise

Northern Superior has made a significant gold discovery on its 100% owned Lac Surprise property. Building off the success of the 2019 core drill program that led to the discovery of the Épervier Gold Zone, the Company launched a core drill program in 2020 that led to the discovery of the Falcon Gold Zone highlighted by two discovery holes: LCS20-13 (1.02 g/t gold and 3.92 g/t silver or 1.07 g/t AuEq over 35.5m with a high-grade interval of 7.70 g/t gold and 38.96 g/t silver or 8.22 g/t AuEq over 2.6m); and LCS19-005 (ext.) (1.44 g/t gold and 1.08 g/t silver or 1.55g/t AuEq over 44.9m, including 3.60 g/t gold and 1.92 g/t silver or 3.82g/t AuEq over 15m). The assays and associated geology strongly suggests that the Falcon Gold Zone is the extension of Nelligan gold deposit.*

Northern Superior recently announced that it has expanded the previously announced 10,000 meter ("m") core drill program on the Lac Surprise property (see Northern Superior press release, March 15, 2021) to a minimum of 13,000m, and will consist of two stages. Stage 1, expanded to 8,000m, is designed to better define and expand the newly discovered Falcon Gold Zone, believed to be the western extension of the neighboring IAMGold/Vanstar's Nelligan gold deposit located approximately 2.4 kilometers ("km") to the east with an inferred resource* of 3.2 million ounces at 1.02 g/t gold ("Au"). Stage 2, consisting of approximately 5,000m, is designed to test three early-stage gold targets west of Target 1: Target 3; the Fox Gold showing and the Confluence Area (see Northern Superior press release, April 19, 2021).

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

Qualified Person

Michel Leblanc P.Geo., is a qualified person ("QP") within the meaning of National Instrument 43-101. As the QP for the Lac Surprise property, Mr. Leblanc has reviewed, and approved information disclosed in this press release.

More information on the Lac Surprise project can be found on the Company's website (www.nsuperior.com)

About Northern Superior

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise property in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

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

For more information, please contact:

Thomas F. Morris,
President and CEO
Northern Superior Resources Inc.
Tel: (705) 525 ‐0992

Joshua Blacksmith
Mining Coordinator
Cree First Nation of Waswanipi
Tel: (819) 753-2587

www.nsuperior.com

Forward Looking Statement:

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/644417/Northern-Superior-and-Cree-First-Nation-of-Waswanipi-Sign-Mineral-Exploration-Agreement-Lac-Surprise-Property-West-Central-Quebec

KINGSTON, ON / ACCESSWIRE / May 5, 2021 / Focus Graphite Inc. (TSXV:FMS) (the "Company" or "Focus Graphite") announced today the closing of the first tranche of the previously announced non-brokered private placement (the "Offering") for gross proceeds of $1,822,800.08. The Company has issued 15,190,001 flow-through common shares (the "Flow-Through Shares") at a price of $0.12 per Flow-Through Share.

In connection with the closing of the first tranche of the Offering, the Company paid cash finder's fees totaling $117,236.00 and issued 976,966 non-transferable finder's warrants (the "Finders Warrants"). Each Finders Warrant entitles the holder to acquire one (1) non-flow-though common share of the Company at a price of $0.12 per common share until May 4, 2023.

The securities issued in connection with the closing of the first tranche of the Offering are subject to a four-month hold period expiring on September 5, 2021. The Offering is subject to the final approval of the TSX Venture Exchange.

Two insiders of the Company participated in the Offering and subscribed for an aggregate of 2,500,000 Flow-Through Shares representing an aggregate amount of $300,000. Participation of insiders of the Company in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

The proceeds of the Offering will be used to support the exploration program on the Company's Tétépisca Graphite Project located southwest of the Manicouagan reservoir in the Cote-Nord administrative region of north-eastern Quebec.

About Focus Graphite

Focus Graphite Inc. is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. In a second stage, to meet Québec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is evaluating the feasibility of producing value added specialty graphite products including battery-grade spherical graphite.

Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc. For more information about Focus Graphite, please visit www.focusgraphite.com.

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

Forward Looking Information

This news release may contain certain forward-looking information and statements, including without limitation, the closing of the Offerings, statements pertaining to the use of proceeds, and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Focus Graphite's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Focus Graphite Investor Contact:

Scott Anderson
Investor Relations
(858) 229-7063
sanderson@nextcap-ir.com

Focus Graphite Inc.

Judith Mazvihwa-MacLean
CFO|
(613) 581-4040
jmazvihwa@focusgraphite.com

SOURCE: Focus Graphite Inc.

View source version on accesswire.com:
https://www.accesswire.com/644761/Focus-Graphite-Closes-First-Tranche-of-Non-Brokered-Flow-Through-Offering

NEW YORK, May 5, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Vanstar Mining Resources, Inc. (TSX-V: VSR) (OTCQX: VMNGF), a gold exploration company, has qualified to trade on the OTCQX® Best Market. Vanstar Mining Resources, Inc. upgraded to OTCQX from the Pink® market.

Vanstar Mining Resources, Inc. begins trading today on OTCQX under the symbol "VMNGF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

JC St-Amour, President and CEO of Vanstar Mining commented, "Our US investor base is an important group of shareholders and I am pleased to have upgraded to the OTCQX Market to provide more transparency and increase our exposure to one of the largest markets globally. Vanstar has several highly prospective gold properties in Quebec including our flagship Nelligan project, which we jointly own with IAMGOLD Corp. The Nelligan project hosts a world class gold deposit, is located in one of the best mining jurisdictions in the world and is being jointly explored and developed by a successful and experienced mining Company, IAMGOLD. This year promises to be an exciting year for Vanstar with exploration results from Nelligan and our other gold properties expected throughout the year."

Securities Law USA, PLLC acted as the company's OTCQX sponsor.

About Vanstar Mining Resources, Inc.
Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar also owns 100% of the Felix property under development in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property) and 100% of Amanda, a 7,677 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-vanstar-mining-resources-inc-to-otcqx-301284082.html

SOURCE OTC Markets Group Inc.

PVG earnings call for the period ending May 4, 2021.

Just because a business does not make any money, does not mean that the stock will go down. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So should Minco Silver (TSE:MSV) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Minco Silver

When Might Minco Silver Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In December 2020, Minco Silver had CA$33m in cash, and was debt-free. In the last year, its cash burn was CA$2.5m. That means it had a cash runway of very many years as of December 2020. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. You can see how its cash balance has changed over time in the image below.

How Is Minco Silver's Cash Burn Changing Over Time?

Because Minco Silver isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. During the last twelve months, its cash burn actually ramped up 52%. While this spending increase is no doubt intended to drive growth, if the trend continues the company's cash runway will shrink very quickly. Admittedly, we're a bit cautious of Minco Silver due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For Minco Silver To Raise More Cash For Growth?

Given its cash burn trajectory, Minco Silver shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of CA$27m, Minco Silver's CA$2.5m in cash burn equates to about 9.5% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Is Minco Silver's Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Minco Silver is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. On another note, we conducted an in-depth investigation of the company, and identified 3 warning signs for Minco Silver (1 shouldn't be ignored!) that you should be aware of before investing here.

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

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

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

KELOWNA, BC, May 4, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") is pleased to report the first five of fourteen reverse circulation drill holes on its 100% owned Bruner property in Nevada.

Dr. Chuck Fipke reports

Bruner Property

The Bruner property is located in Nye County, Nevada, which hosts numerous gold mines. Its location is presented in Figure 1. Cantex completed 14 reverse circulation ("RC") holes on the project and has received results from five holes.

Table 1 presents the most significant intercepts from the first five holes, the locations of which are presented in Figure 2.

Table 1. Significant Bruner drill results.

Sample Preparation and Analysis

The drill holes reported in this press release were drilled using reverse circulation drilling with hole diameters between 140 and 146mm. A representative split of the sample was collected off the drill and sent for geochemical analysis. Another split of the sample has been stored on site. Samples were securely transported to the ALS Chemex Laboratory in Reno, Nevada. Here the samples were dried and crushed to 70% passing 2 mm before a 250 gram split was pulverized to 85% passing 75 micrometres. The samples were then analyzed using the AuME-TL43 technique which involves the Aqua Regia digestion of a 25 gram charge and analysis by ICP-MS and ICP-AES. Quality control included the insertion of blanks, standards and field duplicates

Weepah South Property

Drill testing at the Weepah South property determined that the source of the conductive geophysical anomaly was graphite interbedded in Paleozoic carbonate rocks rather than the hoped for conductive gold mineralized target. Analytical results confirmed that gold mineralization was not present and no additional work is planned for these claims.

Baxter Springs Property

Five drill holes were completed on the 100% owned Baxter Springs property and analytical results are pending.

Carico Lake Property

Roads and three drill pads have been constructed at the Carico Lake property. Three holes totalling 1,100 metres are to be drilled as soon as a suitable drill is available.

Conclusion

The Cantex directors are most encouraged by the Bruner property results; the five holes completed to date indicate a Nevada-style gold-arsenic-antimony system has been intersected.

Structural geological mapping will be undertaken after the remaining drill results are received. The focus of the mapping will be to assist in determining where the centre of the mineralized system is. In addition, work will include rock chip sampling of the road cuts created by the access roads leading to the 14 drill sites. It is hoped that these results as well as the forthcoming analytical results from the nine remaining holes will further define gold mineralization on the Bruner property.

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

Signed,

Charles Fipke

Charles Fipke

Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the proposed sale transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statements or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE Cantex Mine Development Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/04/c1036.html

Vancouver, British Columbia–(Newsfile Corp. – May 4, 2021) – Seahawk Gold Corp. (CSE: SHV) ("Seahawk") announces that it has entered into an arms length agreement, dated April 30^th, 2021, with Sama Resources Inc. (TSXV: SME) ("Sama") for the acquisition of Sama's Zwedru South Project, St-John River Gold Project and the Nuon Project, each of which is located in Liberia, Africa (the "Projects").

The acquisition will be effected by the purchase from Sama of its subsidiary Sama Resources Development Corp. (Cayman) ("Sama Cayman"), which holds 100% of the issued and outstanding securities of Sama Resources Liberia Inc. ("Sama Liberia"). Sama Libera holds all rights, title and interest in and to the Projects. In consideration for the purchase of Sama Cayman, Seahawk will issue 8,500,000 of its common shares to Sama (the "Consideration Shares"), which will result in Sama holding 20.8% of Seahawk's outstanding shares following the issuance of the Consideration Shares. This will not effect a change of control, and there are no finders fees payable to this transaction.

Giovanni Gasbarro, CEO of Seahawk, commented that, "Seahawk is very pleased with enhancing its portfolio of exploration assets with this latest acquisition, and looks forward to working with the Sama team to close the transaction and to discuss opportunities for Seahawk and Sama to collaborate in the further exploration of the Projects."

The Consideration Shares will be subject to a four month hold period from closing under applicable Canadian securities laws in addition to other resale restrictions which will apply to Sama as long as it remains a "control person" of Seahawk. Additionally, Sama elects that the Consideration Shares, to be held in certificate form.

The transaction is subject to various closing conditions in favour of Seahawk, including the satisfactory completion of due diligence by Seahawk, and all applicable shareholder, regulatory and stock exchange approvals for the Transaction having been received by the relevant parties

Seahawk and Sama intend to discuss the potential provision of exploration and other services by Sama to Seahawk in respect of the Projects following closing, which if agreed to will be the subject of separate agreements between Seahawk and Sama.

About Seahawk Gold Corp.

Seahawk Gold Corp. is a publicly traded Canadian resource exploration company trading in Canada (CSE: SHV), the U.S. (OTCQB: SEHKF) and Germany (FSE: 7SR). Seahawk is the 100% owner of four properties along the Urban-Barry Greenstone Belt in the Abitibi sub province of mining friendly Quebec, Canada.

For more information please contact Seahawk Gold Corp. – seahawkgoldcorp.com

Giovanni Gasbarro
CEO and Director
at 1-604-939-1848

Mitchell E. Lavery, P.Geo.
President and Director
at 1-613-298-1596

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

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 of1933, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82869

Highlights:

A 5 year drill permit is now in place for the upcoming 2021 inaugural diamond drill program on the newly discovered Surebet Zone located on its 100% controlled Golddigger property, Golden Triangle BC.

The upcoming ~ 5000 meter inaugural drill program will target the extensive high-grade gold-silver shear structure discovery at the Surebet Zone both along strike and to depth.

The Surebet Zone is exposed on surface for 1000 meters of strike with 500 meters of vertical relief and remains open. It has an average width of 9.84 meters and grade of 10.68 g/t AuEq (7.59 g/t Au) with 1000 meters of inferred down dip extension that also remains open.

Surebet Zone 3D Model & Proposed Drill Locations Video (Click Here).

TORONTO, May 04, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the “Company” or “Goliath”) is pleased to announce the receipt of all necessary permits for its inaugural diamond drill program to trace the high-grade gold-silver zone seen at surface at the Surebet Discovery at its 100% controlled Golddigger Project. The discovery is located in a world class geological setting near Stewart, BC in the prolific Golden Triangle of British Columbia. Both the Homestake Ridge deposit and Dolly Varden Silver mine are close in proximity.

Goliath has planned for ~ 5000 meter drill program on the Surebet Discovery Zone designed to test the 1000 meter strike length, 500 meters of vertical relief and 1000 meters of inferred down dip extent. The drilling will focus on the high-grade gold-silver mineralization zone exposed at surface over 1000 meters that currently averages 9.84 meters wide and grading of 10.68 g/t AuEq (7.59 g/t Au). The zone remains open (see Company news release dated November 25, 2020). Mobilization for the drill program is scheduled to take place in May.

Mr. Roger Rosmus, CEO of Goliath states: “We are very pleased to have received all permits for the drill program on our newly discovered Surebet Zone. The management, geologic team, institutional investors, and shareholders alike are all looking forward to the inaugural drill program on the Surebet Discovery. Things are certainly shaping up for what is going be a very exciting drill program that is only just weeks away from mobilizing.”

Golddigger Property

The Golddigger property is 23,858.51 hectares (59,646 acres) and in a world class geological setting. It is located on tide water 30 kilometers south east of Stewart BC in the prolific Golden Triangle and only 7km West of the Dolly Varden Mine access road providing for cost effective exploration (Link to Claim Map).

The newly discovered Surebet Zone is located ~8 kilometers S.W. of Fury Gold Mines’ Homestake Ridge deposit, a high-grade gold-silver resource estimate (M&I) that contains 982,700 oz of gold @ 4.99 g/t gold and 19,600,000 oz 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 – Auryn Resources’ PEA & Website) (Link to Regional Map).

Multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1000 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 gpt gold equivalent (AuEq) and 7.59 grams per tonne gold (gpt Au) with 1 kilometer (1000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

The Surebet targets are contained within a shear zone and will be tested in the inaugural 2021 drill program. The high-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 less than 0.5 gpt AuEq (Link to news November 25, 2020).

The Surebet Zone 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 km 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 285,000 common shares to directors and consultants of the Company. These stock options are exercisable at CDN $0.68 each, which is the closing price on May 3, 2021, and will all expire on May 4, 2026. All stock options are governed by the terms and conditions of 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.

Other

All rock, channel and talus fine samples were crushed and pulverized at MSALABS's laboratory in Terrace, BC. MSALABS is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay and metallic screen fire assay in Langley, BC. The pulps were also assayed using multi-element aqua regia digestion at MSALABS's laboratory in Langley, BC. The coarse reject portions of the rock samples, as well as the pulps, were shipped to Goliath Resources Ltd.’s storage facility in Terrace, BC. All samples were analyzed using MSALABS's assay procedure ICP-130, a 1:1:1 aqua regia digestion with inductively-coupled plasma atomic emission spectrometry (ICP-AES) or inductively-coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the FAS-121 lead collection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 ppm for silver or 10,000 ppm copper, lead and zinc were additionally assayed using MSALABS's ICA-6xx method particular to each element. This method used an HNO3-HCl digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the FAS-425 method which includes a fire-assay fusion procedure with a gravimetric finish. Samples with Au grater than 5 ppm were additionally analyzed using metallic screen fire assay with MSALABS’s MSC-150 or MSC-350 method. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence.

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and 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
President and Chief Executive Officer
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.

NEW YORK, NY / ACCESSWIRE / May 4, 2021 / Hallador Energy Co. (NASDAQ:HNRG) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 4, 2021 at 2:00 PM Eastern Time.

To listen to the event live or access a replay of the call – visit
https://www.investornetwork.com/event/presentation/78158

To receive updates for this company you can register by emailing info@investornetwork.com or by clicking get investment info from the company's profile.

About Investor Network

Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on what's trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.

SOURCE: Investor Network

View source version on accesswire.com:
https://www.accesswire.com/644109/Hallador-Energy-Co-to-Host-Earnings-Call

VANCOUVER, BC / ACCESSWIRE / May 4, 2021 / Klondike Gold Corp. (TSXV:KG)(FSE:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to report commencement of 2021 exploration beginning at the Virgin Target area on the Company's wholly owned 586 square kilometer Klondike District Property near Dawson City, Yukon Territory.

Program Highlights:

• 2021 exploration/resource drilling program of approximately 6,500 meters will be distributed over three phases and test multiple target areas

• Phase 1 exploration drilling to focus on discovering bedrock sources of gold at the historic the Virgin/Lindow Target areas

• Phase 2 drilling to focus on expanding the discovery at the Stander Zone

• Phase 3 drilling to focus on outlining a maiden resource on targets within the Lone Star Zone

Peter Tallman, Klondike Gold's CEO stated, "The steady and thorough exploration programs of the past several years is now paying off. We're confident in our geologic understanding of the processes that formed widespread gold mineralization in the Klondike District, both placer and hard-rock and we're now set to capitalize on those efforts and insights. We have an abundance of targets to test with our 2021 drilling, some that will build toward our goal of completing a maiden resource estimate at Lone Star, and some that may surprise with new discoveries proximal to historic placer mines. It's going to be an exciting season."

The 2021 Phase 1 diamond drill program is expected to begin shortly. The Phase 1 program comprising approximately 1,000 meters will launch at the Virgin Target area located 10 km north of the Lone Star and Stander Zones, and 6 km from the Company's Dawson City office (see News Release dated February 3, 2021). The Virgin Target area is comprised of the Virgin Mine and the Lindow Showing located 2 km apart along Bear Creek, one of the significant placer gold producing creeks during the Klondike gold rush.

Visible gold in quartz veins at the Virgin Mine was originally discovered in 1902. Underground development consisting of two shafts and two adits was completed by 1913. A ‘stamp mill' was installed in that year which reportedly processed 265 ounces gold from the workings. In 1934 the stamp mill was upgraded from steam to electrical power but little further work ensued and the claims ultimately lapsed. (Source: Yukon Geological Survey Mineral Occurrence data). The area was restaked by Mr. Frank Burkhard in 1976 and Klondike Gold purchased the property directly from the Burkhard family in 2017.

Prospecting grab samples or mapping samples of host rocks collected by the Company (2014 to 2020) have yielded five samples between 5.0 to 14.2 g/t Au, one sample of 0.9 g/t Au, and fourteen samples with no significant assay. (Prospecting samples are selective in nature, non-representative rock grab samples of bedrock or boulders collected to test for the presence or absence of gold and other ‘economic' minerals.) The high assays come from quartz vein material in the main shaft and adjacent workings or from the stamp mill dump pile.

Gold in quartz veins was discovered at the Lindow Showing in 1911 located 2 km south of the Virgin Mine. Underground development consisted of two (or three) shafts and one adit however no contemporary records are known and the workings were obscured by subsequent placer mining.

In 2018 prospecting and mapping by the Company located a bedrock occurrence of visible gold in quartz veins. Twelve prospecting grab samples were collected from outcrop of veining and host rock with eight assaying between 0.2 g/t Au and 4.1 g/t Au and four samples with no significant assay. Recent recompilation and upgraded description of the Lindow Showing published by Yukon Geological Survey led the Company's realization that part of the ‘lost' Lindow Showing had been relocated by 2018 outcrop sampling.

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

COVID-19 Update
Klondike Gold continues to take proactive measures to protect the health and safety of our local host community, our contractors and our employees from COVID 19 and exploration activities in 2021 will have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer. Additionally, the Company has received Yukon government approval for our 2021 Alternate Isolation Plan ("AIP") which mandates protocols and stringent isolation safety measures permitting essential personnel to transit to/from Yukon.

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

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

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

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

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

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

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

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/644097/Klondike-Gold-Begins-2021-Exploration-at-Historic-Virgin-and-Lindow-Showings

Palladium futures touched their highest levels on record Tuesday, as strength in U.S. vehicles sales bode well for the metal used in catalytic converters, which reduce emissions from gasoline-powered engines.

Vancouver, British Columbia–(Newsfile Corp. – May 4, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth"), announces they have closed the non-brokered private placement previously announced on April 1, 2021 (the "Placement"). On April 30, 2021, a total of 30,297,698 units (each, a "Unit") were issued under the Placement at a price of $0.165 per Unit for gross proceeds of $4,999,120.35. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company at a price of $0.30 per Share for a period of two years, expiring on April 30, 2023.

All securities issued by the Company pursuant to the Placement will have a four month and one day hold period in Canada ending on August 31, 2021.

In connection with the Placement, Hendrik van Alphen, CEO and director and, David Lies, director, of the Company participated as to $698,099.85. These transactions constituted a "related party transaction" as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61- 101. The Company is exempt from the formal valuation and minority approval requirements of MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization."

Also, in connection with the Placement, the Company paid aggregate cash finder's fees of $107,751.11 and issued an aggregate 653,037 Finder's Warrants. Finder's fees were paid to Canaccord Genuity Corp. ($55,960.80 cash and 339,146 warrants), Haywood Securities Inc. ($3,009.93 cash and 18,242 warrants), and PI Financial Corp. ($7,507.50 cash and 45,500 warrants), Richardson Wealth ($7,738.50 cash and 46,900 warrants) and, MJP Justus Inc. ($33,534.38 cash and 203,239 warrants). All Warrants issued as finder's fees have the same terms and conditions as the Units issued under the Placement, provided that the Warrants forming part of the Units issued as finder's fees are non-transferable.

The net proceeds from the Offering are intended to be used for general working capital.

None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company's main focus is the acquisition and development of lithium projects in South America.

The Company opportunistically advances battery metal projects, namely copper and nickel, where it has a peer advantage in project selection and initial evaluation.

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.

For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of

WEALTH MINERALS LTD.

"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer

For further information, please contact:Marla Ritchie or Henk van Alphen

Phone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82861

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES

There's no doubt that money can be made by owning shares of unprofitable businesses. Indeed, VRX Silica (ASX:VRX) stock is up 186% in the last year, providing strong gains for shareholders. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So notwithstanding the buoyant share price, we think it's well worth asking whether VRX Silica's cash burn is too risky. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

View our latest analysis for VRX Silica

When Might VRX Silica Run Out Of Money?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When VRX Silica last reported its balance sheet in December 2020, it had zero debt and cash worth AU$9.4m. Looking at the last year, the company burnt through AU$2.3m. Therefore, from December 2020 it had 4.0 years of cash runway. There's no doubt that this is a reassuringly long runway. You can see how its cash balance has changed over time in the image below.

How Is VRX Silica's Cash Burn Changing Over Time?

Whilst it's great to see that VRX Silica has already begun generating revenue from operations, last year it only produced AU$129k, so we don't think it is generating significant revenue, at this point. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. Even though it doesn't get us excited, the 31% reduction in cash burn year on year does suggest the company can continue operating for quite some time. Admittedly, we're a bit cautious of VRX Silica due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For VRX Silica To Raise More Cash For Growth?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for VRX Silica to raise more cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

VRX Silica's cash burn of AU$2.3m is about 1.6% of its AU$145m market capitalisation. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

So, Should We Worry About VRX Silica's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way VRX Silica is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. And even though its cash burn reduction wasn't quite as impressive, it was still a positive. Taking all the factors in this report into account, we're not at all worried about its cash burn, as the business appears well capitalized to spend as needs be. Taking a deeper dive, we've spotted 4 warning signs for VRX Silica you should be aware of, and 1 of them shouldn't be ignored.

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

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

Figure 1

Revenue-Virginius Mine Development Progress

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

VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) — AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to provide a construction update and a production outlook for the remainder of 2021 for its Revenue Virginius Mine, (RV) located near Ouray, Colorado.

Mine Development

• Underground mine development is proceeding on schedule with three raises being driven vertically from the 2000 main haulage level 800 feet to the 1200 level (See Figure 1 below).

• The #1 Alimak raise is advancing vertically at an average rate exceeding 16 feet per day and is scheduled to be complete by late May, after which the hoist and shaft timber will be installed for permanent men and material access.

• The #2 Alimak raise has progressed up to the 1500 level and is temporarily being used for men and materials transport from the 2000 level to the 1800 and 1500 level pending completion of #1 Alimak raise.

• The #3 Alimak raise vertical development began in May and is scheduled to reach the 1800 level by the third week of May.

• On completion of #1 Alimak raise, the #2 and #3 Alimak raises will be dedicated ore and waste raises.

• Level (horizontal) development has commenced on the 1800 level to intersect the Virginius vein, which is scheduled to occur during the third week of May. Following this, development will continue by driving drifts both north and south on vein for over 1000 feet to prepare for stope development.

• Stope development on the 1800 level is estimated to begin in late June with first ore to the mill in early July.

• Ore development on 1800 level is on schedule to deliver initial ore to the processing plant in July. Two stopes (mining blocks) on the 1800 level will provide the initial ore supply while stopes on the 1500 level are developed.

• It is anticipated that four stopes will be available by year end 2021 (two stopes per level) to supply the processing plant. However only two stopes are required to provide the 270 tons per day as specified in the 2018 feasibility study (the “2018 FS”) prepared in accordance with National Instrument NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A copy of the 2018 FS is posted on the Company’s website www.aurcana.com and is also available on the Company’s profile on SEDAR at www.sedar.com.

Processing Plant Preparation

• All processing plant upgrades including installing additional flotation capacity, replacing cyclones with sizing screens, installing a rod mill, installing crushers and conveyors along with a new instrument control system will be completed by mid-June. Processing plant commissioning with water is scheduled for the last week of June with first ore through the processing plant in the second week of July.

• Final work on the transition chute from the coarse ore bin to the new primary pan feeder is scheduled to be completed by July 10^th, 2021 and will enable full processing plant operation.

• Throughput will be ramped up over the course of July to reach 111 tons per day (tpd) during August, and then to the full production level of 270 tpd during September.

• Concentrate shipments will be in 100 ton lots and are anticipated to begin in early August. Trafigura Trading LLC is the off-taker for 100% of the concentrates and will pay the value of 95% of the contained metals based on the mine site concentrate assays at the time of shipment, with final settlement based on smelter returns.

• Payable silver equivalent¹ production for the period between August to December 2021 is anticipated to be 1,300,000-1,600,000 ounces at an estimated cash operating costs of between USD10.00 to USD12.00/oz silver after by-product credits².

Qualified Person Statement

The scientific and technical content of this news release was reviewed and approved by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101

ABOUT AURCANA CORPORATION

Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production.

ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION

“Kevin Drover”
President & CEO

For further information, visit the website at www.aurcana.com or contact:

Aurcana Corporation
850 – 789 West Pender Street
Vancouver, BC V6C 1H2
Phone: (604) 331-9333

Gary Lindsey, Corporate Communications
Phone: (720)-273-6224
Email: gary@strata-star.com

CAUTIONARY NOTES

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Private Placement (including with respect to the timing of closing of the Private Placement). Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

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.

¹ Silver equivalent is based on the April 2021 average COMEX prices of Ag USD25.6534/oz, Au USD1,759.47/oz, Cu USD4.2281/lb, Pb USD0.9152/lb and Zn SDU1.2849/lb; includes payability and payment timing of the Trafigura offtake contract.

² By-product credit metal pricing is the same as Silver equivalent pricing

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9df5d571-1159-4008-99e5-a7a9eebf5b41

TORONTO, ON / ACCESSWIRE / May 3, 2021 / PJX Resources Inc. ("PJX") (TSX.V:PJX.V) is pleased to announce that recent drilling and surface mapping suggest high grade gold mineralization may occur where the gold bearing, west dipping David shear and vein system intersects North-South oriented pre-existing fold structures on the Gold Shear Property. This new understanding will be used to drill test the projected extension of the David Gold Zone down plunge and possible parallel gold zones to the west down dip on the David Shear.

"The David Gold Zone appears to be a typical shear and fold related orogenic gold system similar to others around the world, such as Wallbridge's Fenelon discovery or Fosterville" states Mr. John Keating, President and CEO of PJX Resources. "The key to building ounces is to first understand what geologists call structural kinematics, which is how fold and shear structures may influence and concentrate gold mineralization. What we've intersected in this latest drilling is a larger vertical fold structure than similar related structures at the David Gold Zone. Where the gold bearing David shear and vein system would intersect this vertical fold, and possibly concentrate gold, would be at depth below current drilling, possibly 50 metres or more. We believe there may be a second phase of folding that could also influence the location of high grade gold mineralization. Our next step is to design a trenching and drilling program to further define the kinematics that control gold mineralization, and extend the David Gold Zone to depth and discover potential additional parallel gold zones on strike this summer."

Highlights

• The David Gold Zone on PJX's Gold Shear Property has a narrow central core of high grade gold mineralization with values such as 54.76 g/t over 1.0 m true width.

• This high-grade core occurs within a 4 to 5 metre ("m") wide zone with anomalous gold mineralization called the David shear-vein system.

• Modelling of historical pre-PJX drill holes, and PJX's 16 holes (totalling approximately 2,500m to date), suggests that high-grade gold mineralization may occur where the west dipping, gold bearing David shear-vein system intersects north-south fold (F1) related structures.

• Anomalous zones of gold mineralization, greater than 100 ppb gold, appear to dip north along the David shear-vein system, similar to the north 20-30 degree plunge of the F1 fold axis measured in surface outcrop. (see Figure 1)

• VLF geophysics along the north-south F1 fold axis has identified a weakly conductive north dipping anomaly that may reflect the David shear-vein system (see Figure 2).

• The north dipping VLF anomaly corresponds with the intersection of the David shear-vein system and the vertical F1 fold axial plane orientation. (see Figure 3) This new structural and geophysical observation is similar to the David Gold Zone dip/rake and will be used to help define drill targets at depth and on strike.

Figure 1 – Modelling of anomalous gold mineralization, using structural orientations from surface mapping and drill hole data, suggests the David Gold Zone may dip or rake to the north along the David shear-vein system, with untested potential down dip and possible parallel zones along strike.

Figure 2 – VLF geophysical survey along the north-south fold orientation has identified a weakly conductive anomaly (shown in red) that dips to the north similar to the David Gold Zone. The anomaly appears to correspond with the David shear-vein system. Breaks in the VLF anomaly at depth may reflect distortions in the David shear-vein system or stratigraphy. Areas of distortion are locations where gold mineralization can concentrate in Orogenic gold deposits and systems, similar to the Fenelon discovery, Fosterville, and others.

Figure 3 – North dipping VLF anomaly appears to correspond with the intersection of the David shear-vein system and the vertical F1 fold axial plane orientation. This new structural and geophysical observation is similar to the David Gold Zone dip/rake and will be used to help define drill targets at depth and on strike.

Extension of Share Purchase Warrant Expiry Date

The Company is pleased to announce that, subject to TSX Venture Exchange approval, it has extended the term of 12,296,276 share purchase warrants, (the "Warrants"). The Warrants were issued pursuant to a private placement announced on May 1, 2018 and accepted for filing by the TSX Venture Exchange on May 17, 2018. The Warrants are due to expire on May 15, 2021 and are exercisable at $0.25 per share. The new expiration date of the Warrants is May 15, 2022. All other terms of the warrants, including the exercise price will remain unchanged.

Qualified Persons

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

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, silver and base metals (zinc, lead, copper). PJX's primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

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", "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.

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.

SOURCE: PJX Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/644100/Drilling-Identifies-Potential-Structural-Controls-of-High-Grade-Gold-Mineralization-on-PJX-Resources-Gold-Shear-Property

THE WOODLANDS, Texas, May 3, 2021 /PRNewswire/ — TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:TTI) today announced that the Company has signed a memorandum of understanding ("MOU") with CarbonFree, a global carbon capture company with patented technologies that capture CO2 and mineralize emissions to make commercial, carbon-negative chemicals. 

CarbonFree's SkyCycle™ is a second-generation carbon mineralization technology that uses calcium chloride as a key part of the conversion chemistry. TETRA is a global leader in the production and chemistry for many commercial applications of calcium chloride, so the Companies plan to use each other's technical expertise, chemistry know-how, production, and supply chain networks to jointly advance the commercialization of SkyCycle™.

TETRA and CarbonFree have been collaborating since November 2020 and have been jointly sharing and leveraging both Companies' technical resources and expertise as CarbonFree continues to advance their carbon capture mineralization pilot plant, processes, and technologies. During the one-year MOU period, both Companies will work towards a definitive agreement that might include investments by TETRA into CarbonFree, a joint venture, or other commercial arrangements that will leverage each Company's strength to advance this market-leading technology.

Brady Murphy, TETRA's president and chief executive officer commented, "Because SkyCycle™ produces a high quality, commercial mineral from CO2 emissions, we believe there are many cost and commercial advantages to this technology. We are pleased to partner with CarbonFree and utilize our nearly 40 years of calcium chloride chemistry, technical expertise, and global footprint. We believe that by combining our efforts and expertise we can accelerate SkyCycle™ for a rapidly growing carbon capture market that requires innovative, scalable, and lower cost solutions. As announced earlier this year, this is one of several initiatives that TETRA is pursuing to leverage our global chemicals network, technology, and mineral resources to enable TETRA's growth into low carbon energy markets. 

Martin Keighley, CarbonFree's chief executive officer commented, "We're excited to formalize our relationship and continue collaborating with TETRA, who is a world-class player in the calcium chloride space. Having their in-depth expertise will help us accelerate our expansion of bringing SkyCycle™ to industrial plants across the globe – which will mean getting to a net-zero planet faster."

TETRA Overview

TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, and production well testing. TETRA owns an 11% equity interest in CSI Compressco LP (NASDAQ: CCLP) and approximately 1% equity interest in Standard Lithium (TSXV: SLL).

CarbonFree Overview

CarbonFree is a private company focused on advancing the net-zero ambitions of both CO2 emitters and consumers of carbon-negative chemicals. CarbonFree invested 15 years into research and development to prepare to bring a technology to carbon-emitting plants around the world called SkyCycle™. This on-site solution mineralizes CO2 captured from the plant and creates products for sale or safe storage, such as calcium carbonate (PCC & limestone); sodium bicarbonate (baking soda); and Hydrochloric Acid (HCl). Learn more at carbonfree.cc or follow us on Twitter and LinkedIn.

 View original content to download multimedia:http://www.prnewswire.com/news-releases/tetra-technologies-inc-and-carbonfree-enter-into-memorandum-of-understanding-to-jointly-advance-innovative-carbon-capture-utilization-and-storage-ccus-technology-301282537.html

SOURCE TETRA Technologies, Inc.

Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, May 3, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining Virtual lnvestor Conference. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of metals & mining companies discuss their property positions, development schedules, market opportunity, and investment highlights. The program opens at 9:15 AM ET, with the first webcast at 9:30 AM ET on Tuesday, May 4^th.

REGISTER NOW AT: https://bit.ly/2PFBc4a

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

May 4^th Agenda:

May 5^th Agenda:

May 6^th Agenda:

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit
www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

View original content to download multimedia:http://www.prnewswire.com/news-releases/global-metals–mining-live-virtual-investor-conference-may-4th-5th-and-6th-301281881.html

SOURCE VirtualInvestorConferences.com