VANCOUVER, BC, Oct. 15, 2021 /PRNewswire/ – South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), today announces that it intends to complete a non-brokered private placement of units (the "Private Placement" or the "Offering") to raise approximately C$1,200,000. The closing of the Offering is subject to customary conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV").

The Private Placement will consist of 10,909,091 units priced at C$0.11 per unit (the "Units"). Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.15 per common share for a period of three years from the date of issue. The securities will be subject to a four-month hold period from the date of closing and approval by the TSXV. The Private Placement is subject to a 15% over-allotment option and to an acceleration clause. See below for further details.

Net proceeds from the Private Placement will be used for land acquisition, advanced materials sample preparation, commercial agreements, project finance and general working capital requirements for the Company.

Acceleration Clause

If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$0.50 on each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.

About South Star Battery Metals Corp.

South Star Battery Metals Corp. is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery-metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful, large-scale, pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing. South Star trades on the TSXV under the symbol STS, and on the OTCQB under the symbol STSBF.

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

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce
Chief Executive Officer

Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals – YouTube

CAUTIONARY STATEMENT

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

FORWARD-LOOKING INFORMATION

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

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

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SOURCE South Star Battery Metals Corp.

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

Third Quarter 2021 Production Highlights

• 9,170 gold equivalent ounces ("Au eq oz") sold, inclusive of 5,809 gold ounces ("Au oz") and 255,394 silver ounces ("Ag oz") sold

• 268 tonnes of payable copper

• 1,550 tonnes of payable lead

• 3,059 tonnes of payable zinc

Allen Palmiere, President and CEO said "Despite a self-imposed temporary shutdown due to COVID-19, third quarter production results were favorable and are expected to continue in their upward trend in the fourth quarter. Addressing ground support issues allowed us to get back into the Soledad vein which has resulted in increased gold grades and recoveries, as expected. The temporary ramp down of operations in August was deemed necessary to keep employees and the surrounding communities safe as Mexico and our neighboring communities endured a spike in COVID-19 cases. We are very pleased with the response by our operations team to this challenge as the case rates have dropped dramatically allowing us to resume almost normal operations."

Sales Statistics

(1) Average metal prices realized vary from the market metal prices due to final settlement adjustments from our provisional invoices. Our average metal prices realized will therefore differ from the average market metal prices in most cases.

Production Statistics

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

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

Revised Guidance
As a reminder, on September 7, 2021, as part of our update to the market on the temporary ramp down of site operations during late August and early September, we noted that the temporary ramp down combined with our ground control issues in the first half of the year would affect our overall production results. At that time we provided an update to our 2021 annual guidance which we are providing again as follows:

(1) Calculations of cash cost per after by-product credits per gold equivalent ounce and all-in sustaining cost after by-product credits per gold equivalent ounce are non-GAAP financial measures. Please see the Non-GAAP Measures section of the Management's Discussion and Analysis and Results of Operations in the Quarterly Report for the period ended June 30, 2021 reported on Form 10Q for a complete reconciliation of the non-GAAP measures.

(2) Co-product credits are based on approximately 7,200 tonnes of lead sold at an $0.90 per pound metal price (originally 8,000 tonnes of lead sold at $0.80 per pound), approximately 1,500 tonnes of copper sold at a $4.00 per pound metal price (originally 1,800 tonnes of copper sold at $2.80 per pound) and 16,000 tonnes of zinc sold at a $1.25 per pound metal price (originally 21,000 tonnes of zinc sold at $1.04 per pound).

*The September 7, 2021 revised guidance does not include any costs associated with the acquisition of Aquila Resources Inc.

Third Quarter Conference Call Reminder
As a reminder, the Company will issue a news release providing a summary of its financial and operating results for the third quarter ended September 30, 2021, on Wednesday, October 27, 2021 after the market close, file its 10Q with the financial and operating results for the period ended September 30, 2021 with EDGAR and host a conference call on Thursday, October 28, 2021 at 11:00 a.m. Eastern Time.

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

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

https://www.webcaster4.com/Webcast/Page/2361/43124.

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

Participant Toll Free: 888-506-0062

International: 973-528-0011

Entry Code: 552947

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

About GRC:
Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

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

SOURCE: Gold Resource Corporation

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VANCOUVER, BC / ACCESSWIRE / October 13, 2021 / Mawson Gold Limited ("Mawson" or the "Company") (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF) is pleased to announce the results of its inaugural Environmental and Social Governance "ESG" assessment, undertaken independently through the Digbee ESG reporting and assessment framework. The Digbee framework provides an ESG assessment for junior mining companies across 22 global ESG standards, including SASB, GRI, International Finance Corporation, Equator Principles Association and World Gold Council. Mawson is the first company using the Digbee platform to publish its inaugural score, which is not mandatory in its inaugural year under the platform. In addition to what Mawson has accomplished to date, the report provides for how Mawson will continue to improve its performance moving forward.

Highlights:

• Overarching Mawson Gold score of ‘BB', noting the Company has "strong ESG leadership and demonstrates a clear desire to operate in a sustainable manner both now and in the long term".

• Rajapalot with the most positive score of ‘BBB', referencing the contribution of Mawson's "well respected Environmental Director [Ms Noora Ahola] who is not only helping to improve the project from an already good base, but also taking part in industry and national level forums".

• Sunday Creek and Redcastle + Whroo both scoring ‘BB'.

• Every aspect of the business has the potential to reach ‘AAA' through risk mitigation, as demonstrated in the confidence bands applied by the assessors.

• Scoring is undertaken by an independent team of accredited ESG experts who have deep experience in mining projects similar to those being scored.

• Mawson is the first Digbee participant to publish its inaugural ESG score. Publishing is not mandatory at this time, and underlines Mawson's commitment to transparency and disclosure to ESG matters.

Ivan Fairhall, CEO Mawson Gold, states: "We are incredibly proud to be a leader and first to publish our inaugural ESG score in the true ESG spirit of transparency and disclosure. This score independently endorses what I quickly understood about Mawson before joining – that ESG stewardship is deeply embedded in everything that Mawson does. Rajapalot is one of the most broadly supported projects in Finland with demonstrative support from local communities, municipalities, reindeer herders, and Lapland's political and administrative leadership, amongst others. I sincerely thank our Environmental Director Noora Ahola for leading these efforts over the last 7 years, and look forward to working alongside her and Mawson's team in continuing to demonstrate our commitment to local stakeholders, as well as our investors who expect the highest standards of governance and accountability."

Jamie Strauss, CEO Digbee, states: "We commend Mawson's initiative in self-reporting their inaugural Digbee ESG Score. ESG is all about transparency and continuous improvement, and we are proud that Digbee's ESG platform is recognized as an enabler of this within the mining industry. There are billions of dollars of investment capital looking for companies who wholly embrace ESG and can demonstrate real action on the ground to improve conditions across the ESG spectrum. Mawson have demonstrated this today, and as more companies step forward in this way, it will create the transparency and culture of improvement necessary to drive real change."

A Digbee ESG submission comprises two types of questionnaires: (1) a single corporate-level questionnaire, and (2) one or more project-level questionnaires. The questionnaires are tailored to the stage of the mining company and its projects (i.e., exploration, development and/or producing). Each question is scored in accordance with Digbee's scoring criteria and averaged to provide an overall output score along with a confidence banding. A confidence banding illustrates the potential range with which the awarded score can move should any of the risks be realized or mitigated. Scoring is undertaken by a team of accredited ESG experts who have deep experience in mining projects similar to those being scored. Each scoring team consists of two scorers and a team lead. This team of three ensures consistent scoring through robust peer review and quality control. Figure 1 depicts Mawson's scores graphically.

Figure 1: Digbee ESG scores for Mawson Gold, and its constituent business units

A comprehensive qualitative analysis by Digbee is available through the Mawson Gold website here In summary:

Mawson Gold Ltd – The Company has strong ESG leadership and demonstrates a clear desire to operate in a sustainable manner both now and in the long term. The Board consists of a diverse range of skills and individuals, which enhances the professional approach to business practices and governance regarding decision making. The Mawson Gold team are encouraged to actively participate in industry interest groups as well as the development of new technology that will help to make the sector more sustainable.

Rajapalot (Finland) – A very promising gold and cobalt exploration project in Finland with more than 10 years of exploration activity to date. The team is enhanced by a well-respected Environmental Director who is not only helping to improve the project from an already good base, but also taking part in industry and national level forums and communities. While a small portion (18%) of the total permit area lies within biodiversity conservation areas (Natura 2000), it should be noted that Mawson is permitted to complete all exploration for its priority target areas.

Sunday Creek (Australia) – An early-stage gold exploration project located in an area which has been an active mining prospect since the 19th Century. Located 65km north of Melbourne, the project's workforce is drawn almost entirely from the local population. Infrastructure required for more advanced exploration and development is already in place.

Redcastle and Whroo (Australia) – Two separate projects, at similar stages of exploration, located in the same local government area within 100km of one another, and therefore assessed in the same Digbee ESG review. As with Sunday Creek, these projects are located within historic mining areas and are approximately 120km north of Melbourne. Redcastle is located immediately adjacent to an active mining operation and large national defence training facility. Part of the lease for the projects is located in a state forest, in which the government is supportive of mining activities. These land uses are therefore positive regarding the potential for a new mining operation

About Mawson Gold Limited (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF)

Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

About Digbee ESG

Digbee has partnered with leaders in the ESG world to develop a right-sized, future-looking and industry endorsed set of frameworks for all stages of mining companies to assess and disclose their ESG metrics while ensuring best practice. This impact-based approach has recognized over 25 initiatives and reporting frameworks, is practical and addresses real risk. The questionnaire is accompanied with clear rationale and guidance. Submitted annually, through a Board Approval process, Digbee ESG allows comparison to peers, helps management and the Board to integrate ESG within the company strategy while improving risk management, and will become the benchmark for engagement with capital providers and other stakeholders.

On behalf of the Board,

"Ivan Fairhall"
Ivan Fairhall, CEO

Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, info@mawsongold.com

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor. 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. Mawson cautions investors that any forward-looking statements 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, but not limited to: capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management's experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

SOURCE: Mawson Gold Limited

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VANCOUVER, BC / ACCESSWIRE / October 12, 2021 / Infinite Ore Corp. (the "Company") (TSX.V:ILI) (OTCQB:ARXRF) is pleased to provide an update on its exploration and corporate activities. The Company recently mobilized a ground crew to sample target areas on its Jackpot lithium project. The areas of interest were generated from a recent high resolution geophysical survey completed on the Jackpot property. The survey, conducted by Novatem Airborne Geophysics, identified several east-west trending anomalies that reflect structures like that of the Jackpot lithium deposit itself.

The ground crew sampled spodumene bearing pegmatites more than 300 m north-east of the 2018 drilling area. The pegmatites were observed over a strike length of approximately 900 m and appear to continue under cover to the north-east and under a small lake to the south-west. Infinite Ore is designing a drill program to test extensions of the Jackpot lithium deposit.

J.C. St-Amour, President of Infinite Ore commented, "I am very pleased that we have identified pegmatite dykes outside the known Jackpot historical deposit area. These dykes appear to have extensive strike length and represent excellent targets for follow up exploration."

St- Amour continued, "Our ground crew also investigated and sampled other areas on the property where additional pegmatite dykes were identified and need further investigation. Pegmatite dykes tend to occur in swarms and given the area has a thick overburden there is excellent potential to discover numerous other mineralized pegmatites, leading to additional drill targets. Our goal is to get aggressive on exploring the Jackpot project and to identify the lithium potential on this highly prospective package."

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

Figure 1: Geophysical map of the Jackpot project.

Sale of Eastern Vision

On the corporate front, the Company is pleased to report that the sale of the Eastern Vision project to Trillium Gold Mines Inc. is progressing. The parties are working towards getting all necessary approvals for the sale with an anticipated closing in November 2021. Upon closing, the Company will receive 4,000,000 common shares of Trillium and a cash payment of $175,000.

Qualified Person

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

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

About Infinite Ore Corp.

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

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

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

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

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

SOURCE: Infinite Ore Corp.

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TORONTO, Oct. 12, 2021 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to announce the appointment of Steven Gold as Vice President of Corporate Development and Investor Relations effective October 12, 2021 and grant of 200,000 stock options. Each stock option is exercisable into one common share of the Company at a price of $2.40 per share for a period of five years from the date of grant and vest 25 percent every six months.

Steven has nearly 20 years of capital markets experience in the natural resources sector, having held various positions in the investment industry across both the buy and sell sides. More recently, Steven held senior officer and corporate development roles at various junior and mid-level global mining-sector companies.

About Collective Mining Ltd.

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the projection to production. Management and insiders own approximately 41% of the outstanding shares of the Company and as a result are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales Project. With an aggressive grassroots exploration program in 2021 outlining five major targets at the Guayabales Project, the Company recently initiated a maiden 7,500 metre drill program with a sole purpose to make the next major discovery in Colombia. Initial assay results from this drill program are anticipated in Q4, 2021.

Contact Information

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

FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

ENDEAVOUR ANNOUNCES TRANSACTION IN OWN SHARES

London, 8 October 2021 – Endeavour Mining plc (LSE: EDV) (“the Company”) announces it has purchased the following number of its ordinary shares of USD 0.01 each from Stifel Nicolaus Europe Limited.

Aggregated information

Following the cancellation of the repurchased shares, the Company will have no ordinary shares in treasury and 248,979,887 ordinary shares in issue. Therefore the total voting rights in the Company will be 248,979,887. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

These share purchases form part of the Company's buy-back programme announced on 15 June 2021.

Transaction details

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Stifel Nicolaus Europe Limited as part of the buyback programme.

Schedule of purchases

Shares purchased: Endeavour Mining plc (ISIN: GB00BL6K5J42)

Dates of purchases: 6 October 2021

Investment firm: Stifel Nicolaus Europe Limited

Individual transactions

CONTACT INFORMATION

ABOUT ENDEAVOUR MINING PLC

Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements regarding the plans, intentions, beliefs and current expectations of Endeavour with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding Endeavour’s expectations regarding the benefits of a premium listing in the UK with shares traded on the LSE including deeper access to a diverse investor pool with strong understanding of its key operating jurisdictions across West Africa and increased demand for its shares on the assumption that it will qualify for inclusion in the FTSE UK Index Series as well as the MSCI Europe Index, Endeavour’s ability to create sustainable shareholder value over the long term and the potential for continued or future dividends.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Endeavour management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Endeavour believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Endeavour. This forward-looking information may be affected by risks and uncertainties in the business of Endeavour and market conditions.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Endeavour with the Canadian securities regulators, including Endeavour’s annual information form for the financial year ended December 31, 2020 and financial statements and related MD&A for the financial year ended December 31, 2020 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Endeavour has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Endeavour does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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

Attachment

• Transaction in own shares

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. With that in mind, we've noticed some promising trends at Fresnillo (LON:FRES) so let's look a bit deeper.

What is Return On Capital Employed (ROCE)?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Fresnillo is:

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

0.18 = US$1.0b ÷ (US$5.9b – US$430m) (Based on the trailing twelve months to June 2021).

Therefore, Fresnillo has an ROCE of 18%. By itself that's a normal return on capital and it's in line with the industry's average returns of 18%.

Check out our latest analysis for Fresnillo

Above you can see how the current ROCE for Fresnillo compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Fresnillo.

What Does the ROCE Trend For Fresnillo Tell Us?

Fresnillo is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 18%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 36%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.

What We Can Learn From Fresnillo's ROCE

A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Fresnillo has. And since the stock has fallen 46% over the last five years, there might be an opportunity here. With that in mind, we believe the promising trends warrant this stock for further investigation.

Fresnillo does have some risks, we noticed 2 warning signs (and 1 which is a bit concerning) we think you should know about.

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

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

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

Vancouver, British Columbia–(Newsfile Corp. – October 7, 2021) – MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report new assay results expanding the URU zone from 12-km² to over 48-km², located along the CESAR North 80km-long belt, within the wholly-owned CESAR project in NE Colombia (refer to Figure 3).

Highlights

– 14.8% copper and 132 g/t silver outcrop over 1.5m x 0.8m panel (876798)
– 6.5% copper and 6 g/t silver outcrop over widths of 1.0m chip channel (876931)
– 5.6% copper and 87 g/t silver outcrop over 1.0m by 1.0m panel (879972)
– 4.0% copper and 42 g/t silver outcrop over 1.0m by 1.0m panel (879975)
– 3.7% copper and 14 g/t silver outcrop over widths of 5.0m chip channel (876486)
– 2.9% copper and 7 g/t silver outcrop over widths of 10.0m representative (876460)
– 2.1% copper and 3 g/t silver outcrop over widths of 10.0m representative (876478)
– 2.0% copper and 20 g/t silver outcrop over widths of 10.0m representative (876922)

• URU's continuous copper-silver mineralization now spans over 48-km², extending along strike over 12-km and down dip over 4-km from the elevation of 1200m down to 410m, and is open along strike and down dip (refer Figure 1, 2 and 4).

• Eighteen rock samples collected over widths ranging from 1.0 to 10.0m returned values in excess of 2.0% copper. Thirty-two returned values greater than 1.0% copper. Highlight values are 14.8 % copper and 132 g/t silver (refer to Table 1).

"The URU 48-km² zone remains open in all directions and potentially represents a zone of major proportions when compared to the world class Kupferschiefer and the Central African Belt deposits," commented Max CEO, Brett Matich.

"In addition, MAX is conducting on-going exploration at the other four zones (CONEJO, SP, AMN, AMS, refer to Figure 3) within the CESAR North 80-kilometre-long-copper-silver belt of significant regional potential," he continued.

"The world's transition to clean energy can only be accomplished with copper to build power grids, solar and wind farms, electric vehicles which typically require upwards of 180 pound of copper per vehicle. Copper's rapidly declining reserve base necessitates the need for new major discoveries of copper, positioning Max to take advantage of the copper shortfalls with the potential district size of the CESAR discoveries," he concluded.

Figure 1. 14.8% copper + 132 g/t silver 1.5m x 0.8m (876798) Figure 2. 2.9% copper over 10.0m (876460)
https://www.maxresource.com/images/gallery/MXR_CESAR-Copper-Silver_News_38.jpg

To view an enhanced version of Figures 1 and 2, please visit:
https://orders.newsfilecorp.com/files/3834/98870_d9df5268f4f6ba2e_002full.jpg

Figure 3. CESAR project location
https://www.maxresource.com/images/gallery/MXR_CESAR-Copper-Silver_News_39.jpg

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3834/98870_d9df5268f4f6ba2e_003full.jpg

Figure 4. URU 48-km² zone and open in all directions
https://www.maxresource.com/images/gallery/MXR_CESAR-Copper-Silver_News_40.jpg

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3834/98870_d9df5268f4f6ba2e_004full.jpg

Visible mineralization reports the presence of chalcocite, native copper and copper oxides. Two types of mineral events have been observed. On type is hosted in a stockwork within igneous host rock and is associated with the presence of epidote and the second type is sediment-hosted stratiform copper silver mineralization of Kupferschiefer type. The stratiform type is cross cut by the mineralized stockwork associated with igneous rocks.

Table 1. Rock assay results that returned over 1.0% copper. Max cautions investors that panel and representative grab sampling can be selective and are not necessarily representative of the mineralization.

Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar basin to be analogous to both the Central African Copper Belt (CACB) to the south and the Polish Kupferschiefer to the north. Almost 50% of the copper known to exist in sediment-hosted deposits is contained in the CACB, including Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula copper deposits in the Congo.

Kupferschiefer, the world's largest silver producer and Europe's largest copper source, is a mining orebody ranging from 0.5 to 5.5m thick at depths of 500m, grading 1.49% copper and 48.6 g/t silver. The silver yield is almost twice the production of the world's second largest silver mine.

Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, Democratic Republic of the Congo and Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.

QUALITY ASSURANCE

All CESAR rock chip samples are shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are then sent to Lima, Peru, for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with inductively coupled plasma finished. Over-limit copper and silver are determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish. ALS Labs is independent from Max.

Max uses standard chip and channel sampling where possible, but also relies on composite grab sampling. Max considers composite grab samples to be representative but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization at CESAR.

QUALIFIED PERSON

The Company's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, who serves as a qualified person under the definition of National Instrument 43:101.

CESAR COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW

CESAR lies along the copper-silver rich 200-kilometre-long Cesar Basin in northeastern Colombia. This region enjoys major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, now held by global miner Glencore (refer to Figure 5).

Figure 5. CESAR Project location.
https://www.maxresource.com/images/gallery/MXR_CESAR-Copper-Silver_News_41.jpg

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/3834/98870_d9df5268f4f6ba2e_005full.jpg

Due to the district-scale and copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín (January 7, 2021 NR).

Geochemical and Mineralogical: research programs by the University of Science and Technology ("AGH") of Krakow, Poland. AGH bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project.

Geophysical: Fathom Geophysics is interpreting seismic data, funded by the Company in collaboration with one of the world's leading copper producers.

Proprietary Field Exploration & Techniques: Max's in-country exploration teams continue to target new copper-silver stratabound mineralized zones.

CESAR North 80-kilometre-long-copper-silver zone:

• In 2020, Max discovered both the copper-silver rich AMS (previously named AM South) zone and the AMN (previously named AM North) zone 40-km north, collectively spanning over 45-km². Highlight values of 0.5 to 34.4% copper and 5 to 305 g/t silver range over outcrop intervals ranging 0.1 to 25.0m;

• In March 2021, Max's announced the CONEJO discovery, now spanning 3.2-km by 1.6-km and open in all directions. CONEJO returned values greater than 5.0% copper from 23 rock panels varying from 5.0m by 5.0m to 1.0m by 1.0m. In addition, 66 rock panel samples returned values over 1.0% copper (March 24, 2021 NR):

  • 12.5% copper + 84 g/t silver over 5.0m by 5.0m

  • 10.5% copper + 50 g/t silver over 3.0m by 2.0 m

  • 10.4% copper + 95 g/t silver over 5.0m by 5.0m

  • 10.2% copper + 62 g/t silver over 5.0m by 5.0m

  • 10.0% copper + 80 g/t silver over 5.0m by 5.0m

  • 8.7% copper + 89 g/t silver over 5.0m by 5.0m

  • 8.4% copper + 60 g/t silver over 5.0m by 5.0m

  • 7.9% copper + 21 g/t silver over 5.0m by 5.0m

  • 7.7% copper + 84 g/t silver over 5.0m by 5.0m

  • 7.4% copper + 47 g/t silver over 5.0m by 5.0m

• The 2021 URU discovery is located 30-km south of CONEJO, now expanded to 48-km² and open in all directions. URU appears to have major-scale potential; Thirteen rock samples over widths ranging from 10 to 25.0m returned values of 2.0% copper and above, thirty-seven returned values greater than 1.0% copper, with highlight values of 5.7 % copper and 37 g/t silver:

  • 4.3% copper and 8 g/t silver outcrop over widths of 10.0m

  • 3.9% copper and 7 g/t silver outcrop over widths of 10.0m

  • 3.6% copper and 12 g/t silver outcrop over widths of 10.0m

  • 3.0% copper and 6 g/t silver outcrop over widths of 10.0m

  • 3.0% copper and 37 g/t silver outcrop over widths of 10.0m

• By late April 2021, at CESAR North 80-km belt MAX had identified five copper discoveries URU, CONEJO, SP, AMN and AMS;

• The new SP discovery target September 2021 spans over 1.6-kilometres and is open in all directions. The reconnaissance composite grab sampling over a 25.0m outcrop averaging 4.8% copper and 51 g/t silver is considered very significant, as it indicates the presence of a higher copper and silver grades within the 25.0m interval.

• Exploration continues on the CONEJO and URU zones;

• In addition, Max has initiated the process of mineral claim approvals and drill permitting;

• CESAR West: Max has identified copper porphyry-style mineralization.

ABOUT MAX RESOURCE CORP.

Max Resource Corp. is a copper and precious metals exploration company, engaged in advancing both the newly discovered district-scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both stratabound-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.

Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

For more information visit: https://www.maxresource.com/
For more information visit: www.tsx.com/venture50
TSX Venture 50™ for 2021 video: MAX Resource Corp. (TSXV: MXR) – 2021 TSX Venture 50 – YouTube

For additional information contact:

Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100

*The Venture 50 ranking is provided by TSX Venture Exchange Inc. ("TSXV") for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of this information and are not responsible for any errors or omissions in or any use of, or reliance on, this information. The Venture 50 program is not an invitation to purchase securities listed on TSX Venture Exchange. TSXV and its affiliates do not endorse or recommend any of the referenced securities or issuers, and this information should not be construed as providing any trading, legal, accounting, tax, investment, business, financial or other advice and should not be relied on for such purposes"

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

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98870

ENDEAVOUR TO ANNOUNCE ITS Q3 2021 RESULTS ON 11 NOVEMBER 2021

London, 7 October 2021 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) will release its Q3 2021 financial results on Thursday 11 November, before the LSE market open.

Management will host a conference call and webcast on the same day, Thursday 11 November, at 8:30 am ET / 1:30 pm GMT to discuss the Company's financial results.

The conference call and webcast are scheduled at:
5:30am in Vancouver
8:30am in Toronto and New York
1:30pm in London
9:30pm in Hong Kong and Perth

The webcast can be accessed through the following link:
https://edge.media-server.com/mmc/p/wc2s3hwk

Analysts and investors are also invited to participate and ask questions using the dial-in numbers below:
International: +44 (0) 207 192 8338
North American toll-free: +1 877 870 9135
UK toll-free: +44 (0) 800 279 6619

Confirmation Code: 3980665

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

Click here to add a Webcast reminder to your Outlook Calendar

CONTACT INFORMATION

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

Attachment

• Q3 results notification

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION IN WHICH SUCH DISTRIBUTION IS UNLAWFUL

ENDEAVOUR ANNOUNCES PRICING OF US$500 MILLION
5-YEAR SENIOR NOTES

London, 7 October 2021 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce the pricing of its offering of US$500 million fixed rate senior notes due 2026 (the “Notes”) as part of its refinancing strategy.

The Company will pay interest on the Notes semi-annually at a rate equal to 5.00% per annum. The Notes will settle on or around 14 October 2021, subject to customary conditions, and the Notes will mature on 14 October 2026.

The proceeds of the Notes, together with cash available on the Group’s balance sheet, will be used: (i) to repay all amounts outstanding under the Group’s US$370 million bridge term loan facility, which was used to retire higher cost debt facilities acquired upon the acquisition of Teranga Gold Corporation (the “Bridge Facility”), (ii) to repay the US$130 million drawn under the Group’s existing revolving credit facility (the “Existing RCF”), and (iii) to pay fees and expenses in connection with the offering of the Notes.

As part of its Group refinancing strategy, the Company recently entered into a US$500 million unsecured revolving credit facility (the “New RCF”). The New RCF has a four-year tenor, with an interest rate ranging between 2.40 – 3.40% plus LIBOR (or SOFR) depending on leverage. The undrawn portion has a commitment fee of 35% of the applicable margin (0.84% based on currently applicable margin). The New RCF will replace the Bridge Facility and the Existing RCF, which will be cancelled upon settlement of the Notes offering. Effectiveness of the New RCF is conditioned upon the closing of the Notes offering.

The New RCF and the Notes will extend the maturities of the Company’s existing debt structure to 2025 and 2026 respectively, providing increased financial flexibility.

ABOUT ENDEAVOUR MINING PLC

Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

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

IMPORTANT INFORMATION

This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes or the guarantees thereof (the “Guarantees”), nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale would be unlawful. The Notes and the Guarantees have not been and will not be registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction. Securities may not be offered in the United States absent registration or an exemption from registration. No action has been or will be taken in any jurisdiction in relation to the Notes or the Guarantees to permit a public offering of securities. There is no assurance that any Notes offering will be completed or, if completed, as to the terms on which it is completed.

The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (“EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”) or (ii) a customer within the meaning of Directive 2016/97/EU, as amended (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “EU PRIIPs Regulation”) for offering or selling the Notes or the Guarantees or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or the Guarantees or otherwise making them available to any retail investor in the EEA may be unlawful under the EU PRIIPs Regulation.

The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (the “UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) 2017/565 as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018, as amended (the “EUWA”) or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000, as amended (the “FMSA”), and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) 600/2014 as it forms part of domestic law in the UK by virtue of the EUWA. Consequently, no key information document is required by Regulation (EU) 1286/2914 as it forms part of domestic law in the UK by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the Notes or otherwise making them available to UK retail investors in the UK has been prepared and therefore offering or selling the notes or otherwise making them available to any UK retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

MiFID II professionals / ECPs-only / No PRIIPs KID – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (“KID”) has been prepared as not available to retail in the EEA.

UK MiFIR professionals / ECPs-only / No UK PRIIPs KID – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No UK PRIIPs key information document (“KID”) has been prepared as not available to retail in the UK.

This announcement is being distributed to, and is directed at, only persons who (i) are outside the UK; (ii) are “qualified investors” within the meaning of Article 2 of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) as it forms part of retained EU law in the UK as defined in the EUWA (iii) have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (iv) are persons who are high net worth bodies corporate, unincorporated associations and partnerships and the trustees of high value trusts, as described in Article 49(2)(a) to (d) of the Order or (iii) are persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as “Relevant Persons”). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, Relevant Persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.

In any EEA Member State this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article 2(e) of the Prospectus Regulation.

The Notes have not been nor will they be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of Canadian securities laws and the Notes will be subject to “hold period” resale restrictions under applicable Canadian securities laws.

The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which they are released, published or distributed, should inform themselves about, and observe, such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This announcement contains “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to the Group’s intentions with regards to any offering of the Notes and the Guarantees. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “can”, “could”, “would” and similar expressions.

Forward-looking statements, while based on management’s reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statement. Although the Company 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. Please refer to the Group’s most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.

These forward-looking statements speak only as of the date of this announcement. Except as required by applicable law and regulation, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT INFORMATION

Attachment

• Bond Pricing Announcement

VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) provides an update on progress with its international arbitration claim against the Republic of Peru.

Over the past months, the Company, its legal team and associates in Peru and Canada have been compiling background information, relevant documents and witness statements to support the arbitration case against the Republic of Peru. As part of its case, Lupaka contracted an independent Quantum Evaluator to assess the damages. As of October 1, 2021, the first round of comprehensive submissions supporting Lupaka’s claim have been submitted to the Arbitration Tribunal. The Republic of Peru and its legal team will now review the material and respond.

A few relevant points are as follows:

1. The police developed a comprehensive and detailed plan to remove the illegal blockade and restore the Company’s access to the mine. Permission to execute this plan was requested from senior authorities in Lima but permission was not provided.

2. Many meetings were held and correspondence traded between the Company’s representatives and multiple levels of the Peruvian government. Despite the evidence that the situation should be resolved by the authorities, this was not done.

3. The company that foreclosed on and now owns the Invicta Project expressed a high level of confidence that they would have the community issues resolved and full access to the mine in a very short time frame. To the best of our knowledge the illegal blockade remains in place today (now three years since the permanent blockade was put in place) and the group that erected the illegal blockade is currently exploiting the mine.

4. The Company had all key permits in place as well as valid agreements with the two communities owning the surface rights on which mining activities were to take place and was about to go into full production when the illegal and violent blockade occurred.

After reviewing ongoing and recently completed arbitration cases, the Company considers its case to be exceptionally strong and well justified.

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

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

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

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

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

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

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

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

TORONTO, October 06, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Gold Resource Corporation ("GORO") (NYSE American: GORO) providing for the acquisition by GORO of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction").

As announced by Aquila on September 7, 2021, pursuant to the Transaction GORO will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GORO share per Aquila share (the "Exchange Ratio"). Based upon the 20-day volume-weighted average price ("VWAP") of GORO’s shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila’s shares on the Toronto Stock Exchange as of such date.

Upon closing of the Transaction, the existing GORO and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

Barry Hildred, Executive Chair of Aquila, commented, "We believe strongly that the Transaction outlined in the Arrangement Agreement provides significant benefits to Aquila shareholders. GORO has a strong balance sheet, it owns a consistently profitable mine in the Americas, and it has a highly accomplished technical and operating team. As such, this Transaction materially de-risks the financing and development of the Back Forty Project for the benefit of our stakeholders."

Guy Le Bel, President & CEO of Aquila, added, "The new Gold Resource Corporation will be a multi-jurisdictional, diversified precious and base metal producer with an attractive growth profile underpinned by the Back Forty Project. We look forward to closing the Transaction in short order."

Strategic Rationale for the Transaction

As previously announced on September 7, 2021, the benefits of the Transaction to GORO and Aquila shareholders include the following:

• Enhanced Market Presence and Re-Rating Potential. GORO currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the "GDXJ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GORO is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

• Enhanced Project and Jurisdictional Diversification. Each of GORO and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GORO and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GORO’s producing Don David Gold Mine in Oaxaca, Mexico and Aquila’s Back Forty Project in Menominee County, Michigan.

• Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies.

• Materially De-Risks the Financing and Development of the Back Forty Project for Aquila Shareholders. Benefitting from the free cash flow generated by the Don David Gold Mine, Aquila shareholders will not be diluted by a near-term equity financing that would otherwise be required to advance the Back Forty Project through the final stages of permitting and engineering. GORO is supportive of Aquila’s project development plans including continuing working towards an optimized Feasibility Study. The combined Company’s position of financial strength is also expected to result in an improved ability to access required additional financing to fund the Back Forty Project’s construction capital expenditures.

• All-Stock Transaction Enables Aquila Shareholders to Maintain Upside Exposure. Through their ownership in the combined company, Aquila shareholders will maintain exposure to the value that is expected to be unlocked as the Back Forty Project is advanced towards construction and production. Despite being a proven gold producer, GORO currently trades at only approximately 2.5 times free cash flow from operations. Aquila shareholders will participate in the anticipated re-rating of GORO from a one mine company in Mexico to a two-mine company with jurisdictional diversification.

• Experienced Management Team. The combined company will benefit from GORO’s and Aquila’s technical and operational teams’ expertise in polymetallic open pit and underground mines. The GORO executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

• Demonstrated Consistent Dividend History. Post-Transaction, GORO intends to continue to pay dividends in accordance with its past practice. GORO has made consistent dividend payments to its investors for more than ten years.

Transaction Summary

The Transaction will require the approval of (i) 66⅔ percent of the votes cast by Aquila shareholders and (ii) a simple majority of the votes cast by the minority shareholders (excluding shareholders whose votes are required to be excluded pursuant to Multilateral Instrument 61 – 101) at a special meeting of shareholders (the "Aquila Shareholder Meeting"). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GORO’s shareholders.

In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GORO and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GORO the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GORO if the Arrangement Agreement is terminated in certain circumstances.

Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting.

Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the Toronto Stock Exchange.

Support for the Transaction from Key Aquila Stakeholders

Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GORO pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% of the issued and outstanding Aquila shares in aggregate have also executed a voting support agreement.

Osisko Bermuda Limited, which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd, and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GORO to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

Board Approvals

The Arrangement Agreement has been unanimously approved by the boards of directors of both GORO and Aquila. The Aquila board’s approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from PI Financial Corp. that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

Advisors

Goodmans LLP is Aquila’s Canadian legal advisor and Scotiabank and PI Financial Corp. are Aquila’s financial advisors.

ABOUT AQUILA

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

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

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

ABOUT GOLD RESOURCE CORPORATION

Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close the acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In particular, this news release contains forward-looking information pertaining to the following: statements regarding the Transaction, including with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, and its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GORO and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GORO and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court, and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; Aquila will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or GORO; the integration of the businesses of the Company and GORO; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on the Company and GORO as well as the scope, duration and impact of government action aimed at mitigating the pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005518/en/

Contacts

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

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

DENVER, CO / ACCESSWIRE / October 6, 2021 / Gold Resource Corporation ( " GRC " or the " Company ") (NYSE American:GORO) is pleased to announce that it has entered into a definitive arrangement agreement (the " Arrangement Agreement ") with Aquila Resources Inc. (" Aquila ") (TSX:AQA)(OTCQB:AQARF) providing for the acquisition by GRC of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the " Transaction ").

As announced by GRC on September 7, 2021, pursuant to the Transaction GRC will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GRC share per Aquila share (the " Exchange Ratio "). Based upon the 20-day volume-weighted average price (" VWAP ") of GRC's shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila's shares on the Toronto Stock Exchange as of such date. The Exchange Ratio represents consideration of C$0.09 per Aquila share (the " Per Share Price "), reflecting a premium of 12.5%, based upon the closing prices of the Aquila shares and the GRC shares on September 3, 2021. The Per Share Price implies an aggregate acquisition price for 100% of the outstanding Aquila shares of approximately C$30.9 million.

Upon closing of the Transaction, the existing GRC and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

Allen Palmiere, President and Chief Executive Officer of GRC, said: "This Transaction offers an attractive opportunity to the shareholders of Aquila and GRC to develop the Back Forty Project using GRC's strong balance sheet and cash flows. In addition, the combination of our complementary gold-rich assets will enhance both our mineral inventory and jurisdiction diversification. The announcement by Aquila yesterday, that it had closed the sale of its Bend and Reef exploration properties, was an important step in the process for signing the Arrangement Agreement. With this Transaction, we look forward to becoming a new intermediate gold producer with a peer leading growth profile."

Strategic Rationale for the Transaction
As previously announced on September 7, 2021, the benefits of the Transaction to GRC and Aquila shareholders include the following:

• Accretive Transaction for GRC Shareholders. The Transaction is expected to be immediately accretive to GRC shareholders on a net asset value basis.

• Significantly Improved Gold Resource Profile. Based upon the parties' respective public disclosure and GRC's technical due diligence to date on the Back Forty Project, GRC anticipates that its gold resources have the potential to increase by in excess of 500% upon completion of the Transaction.

• Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies. Its position of financial strength is expected to result in an improved ability to access required additional financing to fund the Back Forty Project's capital expenditures.

• Enhanced Project and Jurisdictional Diversification. Each of GRC and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GRC and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GRC's producing Don David Gold Mine in Oaxaca, Mexico and Aquila's Back Forty Project in Menominee County, Michigan.

• Enhanced Market Presence and Re-Rating Potential. GRC currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the " GDXJ ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GRC is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

• Experienced Management Team. The combined company will benefit from GRC's and Aquila's technical and operational teams' expertise in polymetallic open pit and underground mines. The GRC executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

• Immediate and Significant Premium to Aquila Shareholders. Based on the 20-day VWAPs of the GRC shares and the Aquila shares, the Transaction offers an immediate and significant premium to Aquila's shareholders of 29%. Given the current market environment and lack of liquidity for the shares of Aquila, GRC continues to believe that this a compelling value proposition.

Demonstrated Consistent Dividend History. Post-Transaction, GRC intends to continue to pay dividends in accordance with its past practice. The recent dividend of US$0.01 per GRC share, paid to shareholders on September 30, 2021, continues the more than ten years of consistent dividend payments by GRC.

Support for the Transaction from Key Aquila Stakeholders

• Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GRC pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% Aquila shares in aggregate have also executed a voting support agreement.

• Osisko Bermuda Limited which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GRC to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

Board Approvals
The Arrangement Agreement has been unanimously approved by the boards of directors of both GRC and Aquila. The Aquila board's approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from one of its financial advisors, PI Financial Corp., that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

Transaction Summary
The Transaction will require the approval of 66⅔ percent of the votes cast by Aquila shareholders at a special meeting of shareholders (the " Aquila Shareholder Meeting "). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GRC's shareholders.

In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GRC and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GRC the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GRC if the Arrangement Agreement is terminated in certain circumstances.

Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting. A copy of the Arrangement Agreement will be filed with the Securities and Exchange Commission on Form 8K and will be available on GRC's website under the Reports and Filings tab located in the Investors section located here: https://goldresourcecorp.com/investors/reports-and-filings/ .

Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the TSX.

Advisors
Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP are GRC's Canadian and U.S. legal advisors, respectively, and Beacon Securities Limited is GRC's financial advisor.

About Gold Resource Corporation
Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

About Aquila Resources Inc.
Aquila Resources Inc. is a development‐stage company focused on the development its 100%-owned gold-rich Back Forty Project in Michigan.

Forward-Looking Information and other Cautionary Statements
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate", "believe", "estimate", "intend", "propose", "potential" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation: statements regarding the Transaction, including statements with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GRC and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GRC and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general.

All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Such risks and uncertainties and other factors that could cause actual results and future to differ from those expressed or implied by the forward-looking statements include, but are not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; GRC will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or Aquila; the integration of the businesses of the Company and Aquila; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the periodic and current reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

For further information please contact:

Gold Resource Corporation
Ann Wilkinson, VP, IR and Corporate Affairs
Phone: 720-459-3851
E-mail: Ann.Wilkinson@GRC-USA.com

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/666971/Gold-Resource-Corporation-Enters-Into-Arrangement-Agreement-With-Aquila-Resources-Inc

Drilling will Target Deeper Mineralization

Figure 1

Summary drilling results on the Tarabala Trend and the location of the planned diamond drill hole locations.

Figure 2

Property map showing the location of the Tarabala prospect.

TORONTO, Oct. 06, 2021 (GLOBE NEWSWIRE) — Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that it has launched its previously reported follow-up field program on the Tarabala Trend, which consists of diamond drilling at the Tarabala artisanal workings, on its Sikasso Property in Southern Mali (Figure 2).

Highlights

• The annual rains have ended, and field teams have been mobilized to prepare drill pads for follow-up drilling at the Tarabala prospect

• Drilling will consist of at least 400 m of diamond core drilling over three to five 120-150 m holes focused on tracing the down-dip extension of wide zones of gold mineralization identified through earlier Air Core (AC) drilling.

• A follow-up, 2,000 m reverse circulation (RC) drill program is scheduled for December

Compass CEO, Larry Phillips, commented, “With the end of the wet season, this planned 400-to-600 m of diamond drilling at Tarabala is intended to determine the extent to which the near surface gold mineralization, identified by air core drilling, continues at depth and to establish the nature of the mineralized quartz veins. The information gleaned from this drilling will determine the focus of the main 2,000 m reverse circulation drilling program scheduled for December. We expect that it will take two weeks to prepare the drilling pads, and for the ground conditions to allow the safe movement of our drilling equipment.”

Compass Exploration Manager, Dr. Madani Diallo, added, “This deeper diamond drilling will add greater detail to what we’ve learned from our previous work on this highly-prospective rock belt. We are looking to establish the width and orientation of the veins, mineralogy, as well as the continuity of grade along strike and down dip. In addition to what our team has found in this area, we are further encouraged by the fact that recent drilling by other companies in this area of Mali have shown the gold potential increase at depth.”

Figure 1: Summary drilling results on the Tarabala Trend and the location of the planned diamond drill hole locations.
https://www.globenewswire.com/NewsRoom/AttachmentNg/de1d59c8-2b65-4804-9497-20a1b1cfcda5

Next Steps

A 400-600 m-diamond drilling program at the Tarabala prospect is planned to begin on October 16^th. Drilling will focus on determining the nature of the gold-bearing quartz veins (width, grade, orientation, and mineralogy) at depths of 60 to 120 m from the surface. Initial results will be used to finalize the location of an additional 2,000 m of deep RC holes in December, with a view of using the information gleaned to plan a potential resource definitional drilling program in Q1 2022.

Additional geochemical sampling and geophysical surveys are planned on the other exploration permits within the overall property.

Figure 2: Property map showing the location of the Tarabala prospect.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3a44b683-3e39-45a0-9ddc-e922428df2b6

Results from Previous Drilling

Air Core (AC) drilling on the Tarabala Trend first identified bedrock gold at the Tarabala prospect in April 2020. Subsequent drilling identified shallow gold mineralization at Massala West, a distance of 4 km (Figure 1). To-date, a total of 106 AC holes (4,972 m) and 5 RC holes (530 m) have been drilled at Tarabala over a distance of 1.5 km, and 102 AC holes (6,047 m) and 11 RC holes (1,056 m) at Massala West over 3 km.

AC results at Tarabala included wide intervals up to up to 16 m @ 1.51 g/t Au (from 16 m; SAAC02) and 17 m @ 0.73 g/t Au (from 18 m; SAAC109), and included higher grade sub-intervals such as 4 m @ 5.20 g/t Au (from 26 m; SAAC02) and 1 m @ 12.99 g/t Au (from 33 m; SAAC36). Follow-up RC drilling at Tarabala indicated that the mineralization continued at depth, but it was not tested deeper that 60 m from surface. The widest intercepts from the RC driller were 26 m @ 0.47 g/t Au (from 45 m; SARC001) and 25 m @ 0.58 g/t Au (from 67 m; SARC003). The best mineralization was identified in a 1-km-section of the 2.2 km long mineralized Tarabala Fault.

Two kilometers further north, AC drilling identified two discrete mineralized zones greater than 550 m at Massala West. The northern most zone contained the widest mineralized interval and the highest grade. Drill hole SAAC123 contained 24 m @ 2.35 g/t Au (from 18 m), which included 1 m @ 26.80 g/t Au (from 35 m). RC drilling in the two zones identified several mineralized intervals including the widest zone of 6 m @ 1.02 g/t Au (from 43 m; SARC010). Owning to drilling conditions during the rainy season, the planned RC drilling at Massala West was unable to target the main vein system at a depth of 80 m from the ground surface.

Massala West Extension and Dalaba Results

The remaining assay results relating to AC drilling at Massala West Extension (Figure 1) show that the structure continues to the north of the Massala West prospect over a distance of 600 m, as indicated by the presence of quartz veins. Only 1 m wide intercepts were recorded in each of the four fences drilled to test the structure, with the highest grade being 0.52 g/t Au. No further work is recommended for this area.

A thirteen-hole fence, located 750 m to the west of the Massala West Extension, was drilled at Dalaba to investigate the cause of a 1.05 g/t Au soil anomaly associated with a NE-trending fault. Two narrow intervals were identified close to the soil anomaly sample. These intervals graded 1 m @ 0.59 g/t (from 48 m; SAAC273) and 1 m @ 0.26 g/t Au (from 50 m; SAAC273). No further work is recommended at this time.

Technical Details

Air core holes from Massala West Extension reported here were drilled on an azimuth of 270° (towards the west), at dips of 55. AC hole lengths were all 60 m. At Dalaba, two of the fifteen holes were vertical, with the remainder drilled on an azimuth of 270° at 55° dip. All holes were drilled to a depth of 60 m, with the exception of one hole, which was drilled to 35 m. The drill fences were designed to test structures interpreted from Gradient IP surveying, and potential mineralized trends identified by Compass’s earlier drilling. Drilling was performed by Etasi and Co. Drilling (Mali). All samples were prepared by Compass staff and an appropriate number of standards, duplicates and blanks were submitted and analysed for gold at SGS (Bamako, Mali) by fire assay.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.”

QAQC

All AC samples were collected following industry best practices, and an appropriate number and type of certified reference materials (standards), blanks and duplicates were inserted to ensure an effective QAQC program was carried out. The 1 m interval samples were prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank results were reviewed to ensure no failures were detected.

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

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

For further information please contact:

Website: www.compassgoldcorp.com

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

Vancouver, British Columbia–(Newsfile Corp. – October 6, 2021) – Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to report that pursuant to the Amending Agreement ("Agreement"), the Company has made the $100,000 payment to Teck Resources Limited ("Teck"). Following the payment, Teck has transferred its 100% interest of the Thundercloud property to Dynasty. Teck has also waived its back-in right per the Amending Agreement. For details of the terms in the Amending Agreement, please refer to the news release dated September 27, 2021.

About the Thundercloud Property

The Thundercloud property is in the Archean Manitou-Stormy Lakes Greenstone belt in Ontario, 47 kilometres southwest of Dryden. The geological setting is comparable to the Abitibi belt in Eastern Ontario but is much less explored. The belt contains numerous gold showings, several high grade mines discovered in the area including the Big Master Mine (1902-1943) and the Laurentian Mine (1906-1909). In recent years, close to 30 M oz of gold have been mined and discovered, such as New Gold's Rainy River Mine (6.4 million oz gold and 18.7 million oz silver), and Agnico Eagle's Hammond Reef deposit (5.8 million oz gold).

To date, more than $10M has been spent on drilling and other surface exploration work. The majority of the 12,000 meters drilling were focused on a very small area of the property. The excellent database built by Teck will provide a guide for future targeting. Potential discoveries for Thundercloud include bulk-tonnage orogenic gold mineralization or high grade deposits.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in a greenstone belt in Ontario and the Midas gold camp in Nevada. In addition currently, the 70% owned Hatu Qi2 gold mine in the Tien Shan Gold belt, Xinjiang, China, is in legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. Ltd.. For more information, please visit the Company's website www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.

"Ivy Chong"

_________________________________
Ivy Chong, President & CEO

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98784

VANCOUVER, BC / ACCESSWIRE / October 6, 2021 / Mawson Gold Limited ("Mawson" or the "Company") (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF) is pleased to announce assay results from two trenches located 200 metres east of the current drilled area at the 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. The project is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained within 19,365 hectares of granted exploration tenements (Figures 1 and 2).

Highlights:

• High grade gold has been discovered in trenching in an undrilled area 200 metres east of the Apollo mine area at Sunday Creek (Figures 3 and 4). Highlights include:

  • 14.0 metres at 11.5 g/t gold and 0.3% antimony (Trench 1)

    • including 8.0 metres @ 19.6 g/t gold and 0.4% antimony

  • 2 metres @ 4.9 g/t gold and 0.2% antimony (Trench 2)

• Mineralization remains open 10 kilometres to the east of these trenches where historic mining was common but no drilling has ever taken place. Mawson has recently completed a 1,600 sample soil survey within this 10 kilometre extension with results to be reported shortly;

• Drilling continues at Sunday Creek with 24 holes now completed for 5,561 metres drilled. Further drill results will be reported shortly with the aim to report a maiden resource in 2022;

• Given the advancement of the Company's Finnish assets, and recent gold discoveries made in Australia by the Company, Mawson has commenced an internal corporate strategic review to identify, examine and consider opportunities related to its Australian assets in order to enhance shareholder value. Results from the review will be announced shortly.

Michael Hudson, Executive Chairman, states: "With a drill rig continuously turning at Sunday Creek, our focus has turned to expanding the system beyond our current 700-metre-long drill footprint. We are excited to report that the mineralized system continues to grow into undrilled (and unmined) areas. Trenches reported here, which include 8.0 metres @ 19.6 g/t gold, are located 200 metres east of our drill areas. To find such high grade and continuous gold only one metre below surface, never before discovered, shows the prospectivity that this project, and Victoria in general, has to offer. With 10 kilometres of strike to test, we are excited about the future opportunities that Sunday Creek can deliver."

Mawson initially collected ten grab samples within a 10 metre by 20 metre area that highlighted the surface anomalism east of Mawson's drilling. These grab samples averaged 21.6 g/t Au, 0.3% Sb with a minimum of 6.3 g/t gold, 0.2% antimony and a maximum of 44 g/t gold, 0.5% antimony . To better define the anomaly and to understand the partially covered outcrop, 4 shallow trenches were dug using a small excavator and the floor and the walls of the trenches where sampled. Trench 1 intersected 14.0 metres at 11.5 g/t gold and 0.3% antimony, including 8.0 metres @ 19.6 g/t gold and 0.4% antimony from an iron rich highly altered siltstone with quartz stockwork veining. Trench 2 was then designed to cross-cut Trench 1, and intersected 2 metres @ 4.9 g/t gold and 0.2% antimony (Figure 4). Trenches 3 and 4 where then placed 5-6 metres either side and parallel to Trench 1. The true thickness of the gold mineralized interval is interpreted to be approximately 20% of the sampled thickness in Trench 1 and 95% in Trench 2. No significant gold results were returned from trenches 3 or 4, which can be explained by mineralization trending in a NW-SE orientation, which mimics the main, but not the only, structural controls to gold in the Sunday Creek area. Antimony assays are anomalous over a much larger area, suggesting the presence of leached multi-parallel vein sets (Figure 5). The location, orientation and length of these trenches was limited due to vegetation. A fifth trench located 40m to the northeast did not intersect any significant gold. Channel samples are considered representative of the in-situ mineralization sampled, while grab samples are selective by nature and are unlikely to represent average grades on the property.

Technical and Environmental Background

Analytical samples are transported to On Site Laboratory Services' Bendigo facility which operates under both ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis use aqua regia digest and ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.

The trenches were dug using a small (<2 tonne) excavator. No trees were removed, the trenches were immediately rehabilitated and reseeded.

Qualified Person

Dr. Nick Cook (FAusMM), Chief Geologist for the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

About Mawson Gold Limited (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF)

Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, Executive Chairman

Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,
info@mawsongold.com

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor. 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. Mawson cautions investors that any forward-looking statements 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, but not limited to: capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management's experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Figure 1: Location of Mawson's tenure in Victoria, Australia.

Figure 2: Plan location of the Sunday Creek Project historic mines and location Mawson drilling.

Figure 3: Plan location of the Sunday Creek Project historic mines and location Mawson drilling.

Figure 4: Relative locations of Trenches 1 – 4 from Sunday Creek showing gold assays.

Figure 5: Relative locations of Trenches 1 – 4 from Sunday Creek showing antimony assays.

SOURCE: Mawson Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/666970/Mawson-Trenches-80-metres-196-gt-gold-and-04-Antimony-200-metres-Beyond-Drill-Extensions-at-Sunday-Creek-in-Victoria-Australia

Freeport-McMoRan (FCX) closed the most recent trading day at $32.20, moving -1.56% from the previous trading session. This change lagged the S&P 500's 1.05% gain on the day.

Prior to today's trading, shares of the mining company had lost 9.49% over the past month. This has lagged the Basic Materials sector's loss of 8.25% and the S&P 500's loss of 5.07% in that time.

FCX will be looking to display strength as it nears its next earnings release. On that day, FCX is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 186.21%. Meanwhile, our latest consensus estimate is calling for revenue of $6.17 billion, up 60.3% from the prior-year quarter.

FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $23.04 billion. These results would represent year-over-year changes of +450% and +62.27%, respectively.

It is also important to note the recent changes to analyst estimates for FCX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, FCX currently has a Forward P/E ratio of 11.02. This valuation marks a discount compared to its industry's average Forward P/E of 12.39.

It is also worth noting that FCX currently has a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining – Non Ferrous industry currently had an average PEG ratio of 0.55 as of yesterday's close.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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ENDEAVOUR ANNOUNCES TOTAL VOTING RIGHTS

London, 05 October 2021 – The following notification is made in accordance with the UK Financial Conduct Authority's (“FCA”) Disclosure Guidance and Transparency Rule 5.6.

As at 6pm on 30 September 2021, the issued ordinary share capital of Endeavour Mining plc (LSE: EDV, TSX: EDV) (“the Company”) was 249,128,987 ordinary shares of US$0.01 each. 110,000 shares were held in treasury pending cancellation, and therefore the total number of voting rights in the Company as at 6pm on 30 September 2021 was 249,018,987.

This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In addition, as at 30 September 2021, the Company had in issue 4,450,000,000 deferred shares of US$1 each. These deferred shares do not carry voting rights and were issued solely to enable the proposed reduction of capital to be effected on the terms set out in the notice of meeting dated 11 August 2021. The Company expects that these deferred shares will be cancelled in the near future, once the reduction of capital has been confirmed by the court.

CONTACT INFORMATION

ABOUT ENDEAVOUR MINING PLC

Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

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

Attachment

• 211005 – NR – Total Voting Rights

Figure 1: Plan View of the Guayabales Project and the Box Target

Figure 1: Plan View of the Guayabales Project and the Box Target

Figure 2: Plan View of the Box Target Area (Gold Values (g/t))

Figure 2: Plan View of the Box Target Area (Gold Values (g/t))

Figure 3: Molybdenum Rock Geochemistry of the CPZ (Porphyry Zone)

Figure 3: Molybdenum Rock Geochemistry of the CPZ (Porphyry Zone)

Figure 4: Plan View and North-South IP Section Over the CPZ Highlighting Chargeability and Resistivity

Figure 4: Plan View and North-South IP Section Over the CPZ Highlighting Chargeability and Resistivity

Figure 5(a): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

Figure 5(a): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

Figure 5(b): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

Figure 5(b): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

Figure 5(c): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

Figure 5(c): Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples

TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to announce, as part of its 7,500-meter maiden drill program, that it is mobilizing a second diamond drill rig to the Guayabales Project, Colombia. The new drill rig is expected to begin operating before the end of October 2021 and will be targeting a grass-root generated large-scale and mineralized outcropping gold-rich porphyry system within the Box target area (“Box”). Box is one of the five major grass-root drill-ready target areas identified at the Guayabales Project by the Company in 2021. The Guayabales Project is situated contiguous and immediately along strike and to the northwest of Aris Gold’s multi-million-ounce deposit. The Company interprets the abundant precious metal mineralization encountered throughout the Guayabales project to be related to multiple mineralized styles that include gold-copper-molybdenum porphyries and associated breccia as well as high grade, precious and base metal vein systems that are superimposed on and enrich the porphyry bodies.

Highlights (Table 1 and Figures 1 to 5)

• The porphyry zone (“CPZ”) within the Box is a coincidental strong gold, silver, copper and molybdenum soil anomaly characterized by high-grade veins overprinting porphyry mineralization. In turn, the mineralization is situated directly within coincidental magnetic chargeability and resistivity geophysical anomalies typical of a porphyry system.

• The surface area for the CPZ at Box measures 500 metres by 400 metres and is open in all directions for expansion.

• The CPZ has returned channel and grab sampling from three different styles of mineralization; polymetallic veins, porphyry stockwork and disseminated sulphide. Samples for the high-grade veins returned a range of intercepts grading up to 14.8 g/t gold and 276 g/t silver. These high-grade veins are superimposed on porphyry veinlets, stockwork and disseminated sulphide mineralized systems with grades ranging from 0.4 g/t to 1 g/t gold with select results as follows:

Table 1 Rock and Channel Sample Results at the Box Target

*Grab sample

“The deep penetrating, high resolution IP work when combined with our exploration data has been an effective targeting tool in defining multiple targets consisting of different mineralization styles at the Guayabales Project. As a result, the Company is now beginning a robust drill program to test our initial five targets over the balance of the year and into 2022. Importantly, we expect that initial assay results from drilling at the Donut target, which commenced in September, will be available prior to the end of October,” commented Ari Sussman, Executive Chairman.

Details

The CPZ within the Box is in the western portion of the Guayabales Project and is hosted within multiple porphyritic diorites which intrude into carbonaceous schist and siltstone country rocks. Previously, the Company announced channel and rock sample results from small porphyry and polymetallic vein outcrops within the Box target (see press release dated July 29, 2021). The Company has now undertaken extensive additional surface work and geophysical surveys at the Box target which define a central, mineralized porphyry zone, referred to as the impregnated zone and enveloped by high grade, polymetallic veins to the north, west and south of the porphyry body (see Figure 1).

The CPZ contains gold mineralized stockwork and sheeted vein systems hosting quartz-pyrite-molybdenite-magnetite-chalcopyrite assemblages that are associated with potassic alteration. The mineralized vein systems are coincident with soil anomalies for copper (>500ppm), molybdenum (>3ppm) and gold (>100 ppb) and cover an area of 500 meters by 400 meters. The mineralized porphyry system is impregnated by late stage polymetallic veins which host gold, silver, sphalerite, and galena sulphides. Located to the North and South of the porphyry zone are additional zones of polymetallic veins which fringe the main porphyry bodies and are associated with extensive sericite-chlorite alteration. The polymetallic veins locate within intersecting structures and have northeast, northwest and east-west orientations.

Outcrop exposure within Box is limited due to extensive landslides and colluvium cover. Geophysical surveys were therefore undertaken to assist in target definition and included airborne magnetics and a deep penetrating, ground IP survey. Three-dimensional modelling of all this data has highlighted the presence of a zone of chargeability highs associated with intermediate resistive bodies which are coincident with an intermediate magnetic anomaly. The geophysical anomalies demonstrate an excellent coincidence with the CPZ as defined by geological mapping, soil and rock sampling. The magnetic survey also highlights a clear, NE-SW trending structural corridor which is interpreted to have facilitated emplacement of the CPZ and vein systems in between the various country rocks.

Qualified Person (QP) and NI43-101 Disclosure

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

Technical Information

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

About Collective Mining Ltd.

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the projection to production. Management and insiders own approximately 41% of the outstanding shares of the Company and as a result are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales Project. With an aggressive grassroots exploration program in 2021 outlining five major targets at the Guayabales Project, the Company recently initiated a maiden 7,500 metre drill program with a sole purpose to make the next major discovery in Colombia. Initial assay results from this drill program are anticipated in Q4, 2021.

Contact Information

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

FORWARD-LOOKING STATEMENTS

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

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

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

Figure 1: Plan View of the Guayabales Project and the Box Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9493f7a1-50ad-433a-b8c1-e3a07a448764

Figure 2: Plan View of the Box Target Area (Gold Values (g/t)) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bbaca844-6d72-4a4d-a42d-2e2ce28635e0

Figure 3: Molybdenum Rock Geochemistry of the CPZ (Porphyry Zone) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/85891bd7-ed3b-481d-bb4e-3398f06ee36b

Figure 4: Plan View and North-South IP Section Over the CPZ Highlighting Chargeability and Resistivity is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eff70626-3997-412d-a89d-2804e2f324ed

Figure 5: Box: Porphyry Style Stockwork Mineralization and Veinlets in Outcrop Samples is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/34b8901f-40c8-4e4d-b515-148288cc7e25 and https://www.globenewswire.com/NewsRoom/AttachmentNg/e9410fdb-a8cd-43ea-bee0-598cafd1d9d0 and https://www.globenewswire.com/NewsRoom/AttachmentNg/dac3b0b7-a683-494b-bfa6-8ca218d69b36

TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that its Board of Directors has granted an aggregate 100,000 stock options to Rachel Goldman, a recently appointed director of the Company. Each stock option is exercisable into one common share of the Company at a price of $0.61 CAD per common share, with vesting over 36 months, and exercisable for a period of five years from the date of grant. The options are granted pursuant to the Company’s Stock Option Plan and will be subject to applicable regulatory hold periods.

About Red Pine Exploration Inc.

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

The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,800 hectares in size. The Company’s Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold, in addition to recently appointed Rachel Goldman who holds capital markets expertise and is currently the Chief Executive Officer at Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

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

Or contact:

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

Or

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

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

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

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

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION IN WHICH SUCH DISTRIBUTION IS UNLAWFUL

ENDEAVOUR ANNOUNCES OFFERING OF $500 MILLION SENIOR NOTES DUE 2026

London, 1 October 2021 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (the “Company”, together with its subsidiaries, the “Group”) announces the launch of an offering of fixed rate senior notes due 2026 (the “Notes”) as well as the entry into a new revolving credit facility.

The proceeds of the Notes will be used (i) to repay all amounts outstanding under the Group’s $370 million bridge term loan facility, which was used to retire higher cost debt facilities acquired upon the acquisition of Teranga Gold Corporation (the “Bridge Facility”), (ii) to repay the $130 million drawn under the Group’s existing revolving credit facility (the “Existing RCF”), and (iii) to pay fees and expenses in connection with the offering of the Notes.

The Company has entered into a $500 million revolving credit facility (with a 4-year tenor, which may increase in accordance with its terms up to an aggregate amount of $650 million) with borrowing availability in US dollars for the general corporate purposes of the Company and certain of its subsidiaries. This new revolving credit facility will replace the Bridge Facility and the Existing RCF, which will be cancelled upon completion of any Notes offering.

Effectiveness of the new revolving credit facility is conditioned upon the closing of any Notes offering.

ABOUT ENDEAVOUR MINING PLC

Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

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

IMPORTANT INFORMATION

This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes or the guarantees thereof (the “Guarantees”), nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale would be unlawful. The Notes and the Guarantees have not been and will not be registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction. Securities may not be offered in the United States absent registration or an exemption from registration. No action has been or will be taken in any jurisdiction in relation to the Notes or the Guarantees to permit a public offering of securities. There is no assurance that any Notes offering will be completed or, if completed, as to the terms on which it is completed.

The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (“EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”) or (ii) a customer within the meaning of Directive 2016/97/EU, as amended (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “EU PRIIPs Regulation”) for offering or selling the Notes or the Guarantees or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or the Guarantees or otherwise making them available to any retail investor in the EEA may be unlawful under the EU PRIIPs Regulation.

The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (the “UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) 2017/565 as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018, as amended (the “EUWA”) or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000, as amended (the “FMSA”), and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) 600/2014 as it forms part of domestic law in the UK by virtue of the EUWA. Consequently, no key information document is required by Regulation (EU) 1286/2914 as it forms part of domestic law in the UK by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the Notes or otherwise making them available to UK retail investors in the UK has been prepared and therefore offering or selling the notes or otherwise making them available to any UK retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

MiFID II professionals / ECPs-only / No PRIIPs KID – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (“KID”) has been prepared as not available to retail in the EEA.

UK MiFIR professionals / ECPs-only / No UK PRIIPs KID – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No UK PRIIPs key information document (“KID”) has been prepared as not available to retail in the UK.

This announcement is being distributed to, and is directed at, only persons who (i) are outside the UK; (ii) are “qualified investors” within the meaning of Article 2 of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) as it forms part of retained EU law in the UK as defined in the EUWA (iii) have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (iv) are persons who are high net worth bodies corporate, unincorporated associations and partnerships and the trustees of high value trusts, as described in Article 49(2)(a) to (d) of the Order or (iii) are persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as “Relevant Persons”). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, Relevant Persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.

In any EEA Member State this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article 2(e) of the Prospectus Regulation.

The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which they are released, published or distributed, should inform themselves about, and observe, such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This announcement contains “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to the Group’s intentions with regards to any offering of the Notes and the Guarantees. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “can”, “could”, “would” and similar expressions.

Forward-looking statements, while based on management’s reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statement. Although the Company 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. Please refer to the Group’s most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.

These forward-looking statements speak only as of the date of this announcement. Except as required by applicable law and regulation, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT INFORMATION

Attachment

• Bond Launch Announcement

DENVER, CO / ACCESSWIRE / October 1, 2021 / Gold Resource Corporation (NYSE American:GORO) (the "Company") will issue a news release providing a summary of its financial and operating results for the third quarter ended September 30, 2021 on Wednesday, October 27, 2021 after the market close, file its 10Q with the financial and operating results for the period ended September 30, 2021 with EDGAR and host a conference call on Thursday, October 28, 2021 at 11:00 a.m. Eastern Time.

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

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

https://www.webcaster4.com/Webcast/Page/2361/43124.

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

Participant Toll Free: 888-506-0062
International: 973-528-0011
Entry Code: 552947

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

About GRC:

Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

Contacts:

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

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/666381/Gold-Resource-Corporation-to-Hold-Q3-2021-Conference-Call-on-October-28-2021

Vancouver, British Columbia–(Newsfile Corp. – October 1, 2021) – Comstock Metals Ltd. (TSXV: CSL) ("Comstock" or the "Company") is pleased to announce that it is has closed previously disclosed proposed non-brokered private placement of units ("Units") and flow-through units ("FT Units") (see press release dated September 28, 2021) for aggregate gross proceeds of $388,900.

The Company issued an aggregate of 1,715,000 FT Units and 2,225,000 Units pursuant to the offerings. Each Unit was priced at $0.09 and consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional common share of the Company (a "Warrant Share") at an exercise price of $0.12 per Warrant Share for a period of 24 months from the closing of the offerings. Each FT Unit was priced at $0.11 and consists of one flow-through common share in the capital of the Company (a "FT Share") and one Warrant. The expiry date of the Warrants is subject to an acceleration provision that provides that if the closing price of the Company's common shares is equal to or greater than $0.24 for a period of 10 consecutive trading days, the Company has the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants with the revised expiry date being 30 days from the date of the notice to the warrant holders. The acceleration of the Warrant expiry date may not be triggered prior to February 2, 2022.

The Company will use the gross proceeds of the offering of FT Units for eligible exploration expenditures, which will constitute "Canadian Exploration Expenses" ("CEE") that are "Flow-Through mining expenditures," as defined in the Income Tax Act (Canada) which can be renounced to purchasers of the FT Units for the 2021 taxation year in the aggregate amount of not less than the total amount of the gross proceeds raised from the flow-through offering. The CEE shall be incurred no later than December 31, 2022.

The proceeds from the offering of Units will be used to fund exploration on the Company's Preview SW gold deposit (with a focus on Comstock's Preview North zone) located in Saskatchewan, Canada and for general working capital.

The offerings were offered on a non-brokered private placement basis in certain provinces of Canada and such other jurisdictions as the Company may determine in its sole discretion and will be subject to a statutory hold period ending on February 2, 2022. The Company paid finder's fees totalling $13,398 and issued 125,300 broker warrants as compensation to a finder that assisted with the offerings. Each broker warrant entitles the holder thereof to acquire one common share at a price of $0.09 per share at any time on or before October 1, 2023.

The securities issued under the offerings have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws.

Pursuant to the offering, the Company issued securities to certain purchasers that are considered to be "related parties" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101")), making the Offering a "related party transaction" (within the meaning of MI 61-101) (the "Related Party Subscriptions"). The Company was exempt from obtaining a formal valuation for, and minority approval of, the Related Party Subscriptions pursuant to Section 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.

Steven H. Goldman's wife's company subscribed for a total of 1,000,000 Units pursuant to the offering. Mr. Goldman is an officer and director of the Company and a "related party" of the Company (within the meaning of MI 61-101). Mr. Goldman now beneficially owns, or exercises control or direction over, 3,006,626 common shares (or, approximately 10.27% of the issued and outstanding common shares or approximately 14.39% of the issued and outstanding common shares on a partially diluted basis) (including all options and warrants owned or controlled by Mr. Goldman).

Arnold Tenney's spouse subscribed for a total of 450,000 FT Units pursuant to the offering. Mr. Tenney is a director of the Company and a "related party" of the Company (within the meaning of MI 61-101). Mr. Tenney now beneficially owns, or exercises control or direction over, 871,666 common shares (or, approximately 3.0% of the issued and outstanding common shares or approximately 5.2% of the issued and outstanding common shares on a partially diluted basis) (including all options and warrants owned or controlled by Mr. Tenney).

The material change report to be filed in connection with the Private Placement will be filed less than 21 days prior to the closing of the offerings. The shorter period was necessary in order to permit the Company to close the Private Placement in a timeframe consistent with usual market practice for transactions of this nature.

Early Warning Report

Steven Goldman and his wife Nancy Carroll, acting jointly (collectively the "Goldmans"), announced that they have filed an updated early warning report related to their participation in the offering of Units

Upon completion of the offering, the Goldmans beneficially owns and has control of 3,006,626 common shares of the Issuer, as well as common share purchase warrants to acquire a further 1,000,000 common shares and options to acquire 410,000 common shares, which represents approximately 14.39% of the issued and outstanding common shares as calculated in accordance with National Instrument 62-104 Take-Over Bids and Insider Bids.

The Units were acquired for investment purposes only by the Goldmans. The Goldmans' view of the Company and the investment may change, depending on market and other conditions, or as future circumstances may dictate, from time to time. The Goldmans, on an individual or joint basis, may increase or dispose of some or all of their ownership in the Issuer or each may continue to hold its current position.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated October 1, 2021. A copy of the early warning report relating to the Goldmans' participation in the Offering will be available under the Issuer's profile on the System for Electronic Document Analysis and Review ("SEDAR") at www.sedar.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements of the 1933 Act any application state securities laws.

About Comstock Metals Ltd.

Comstock Metals is advancing the Preview SW Gold Project, a resource-stage gold project in the La Ronge district of Saskatchewan. The Preview SW deposit hosts indicated mineral resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and inferred mineral resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au), both based on a 0.50 g/t Au cut-off grade¹. During 2017 and 2018, Comstock completed diamond drilling campaigns targeting the Preview North zone and the Preview SW deposit comprising 24 holes totaling 4,700 metres. Several additional, relatively untested targets remain on the Property, including the A, B, C, and Clearwater zones (Map 2).

Map 2. Preview SW Property Map Showing Drilled Gold Zones

For further details, see the Company's website at www.comstock-metals.com

To view an enhanced version of Map 2, please visit:
https://orders.newsfilecorp.com/files/7078/98357_a04cd07e34589a55_001full.jpg

Qualified Persons

The scientific and technical information contained in this news release as it relates to the Preview SW Gold Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the use of proceeds resulting from the financing. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. The assumptions on which the forward-looking statements contained herein rely include the ability to complete the proposed financing and receipt of regulatory approval. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

For more information about Comstock Metals Ltd., please refer to Comstock Metals' website at www.comstock-metals.com or contact:

Steven H. Goldman
President, CEO and Director
COMSTOCK METALS LTD.
Cell Phone: (416) 917-1533
Email: s.goldman@goldmanhine.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.

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

¹ The Company has filed on SEDAR the 43-101 Technical Report, Preview SW Gold Project, La Ronge, Saskatchewan, prepared for Comstock Metals Ltd. by Ronald G. Simpson, P.Geo., Geosim Services Inc. Effective date September 27, 2016.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98357

VANCOUVER, BC / ACCESSWIRE / September 30, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is announces that it plans to raise up to $3,500,000 in aggregate of flow-through funds (the "Flow-Through Placement") and non-flow-through funds (the "Non-Flow-Through Placement) by way of a non-brokered private placement (the "Financing").

The Flow-Through Placement will consist of the sale of flow-through shares at a price of $0.20 per flow-through unit with each unit consisting of one common share and one-half of one share purchase warrant.

The Non-Flow-Through Placement will consist of the sale of units at a price of $0.175 per unit, with each unit consisting of one common share and one-half of one share purchase warrant.

Each warrant will entitle the holder to purchase one common share at a price of $0.25 per common share for a period of 2 years from closing (the "Warrants").

A finder's fee on the gross proceeds of the Financing may be paid.

The Financing may close in tranches. The Company intends to use the proceeds from the Financing to continue exploration and development of the Company's Yukon properties, as well as for general working capital.

The securities issued in connection with the Financing are subject to TSX Venture Exchange approval and all securities will be subject to a four month statutory hold period after the date of closing.

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/666188/Klondike-Gold-Announces-3500000-Private-Placement

ENDEAVOUR TARGETS DISCOVERY OF 15-20 MILLION OUNCES OF INDICATED RESOURCES OVER NEXT 5 YEARS

HIGHLIGHTS:

• Endeavour targeting discovery of 15–20Moz of Indicated resources over the next five years at an average cost of less than $25/oz

• Near-mine exploration aims to continue to extend the mine lives of core assets to beyond the 10 year target

• Greenfield exploration targets the discovery of at least another new standalone project

• Group remains on track with its target to discover +2.5Moz of Indicated resources in 2021

London, 30 September 2021 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Group” or the “Company”) is pleased to unveil its exploration outlook for the next five years which targets the discovery of 15 to 20 million ounces of Indicated resources at a cost of less than $25 per ounce across West Africa.

Please click the following link to view a video presentation from management, outlining the exploration outlook: https://youtu.be/QPBzWvrfJ34

The discovery target was established using the same conservative ranking and screening methodology which has successfully yielded the discovery of 8.5Moz of Indicated resources over the past four years, as detailed in the Methodology Section below.

Sebastien de Montessus, President & CEO said: “Our exploration success has been a significant value creation driver over the past four years, following the tremendous work completed by our exploration team. Our track record gives us the confidence to set ambitious new targets and, given the strong expected returns, investment in exploration will continue to be an important component of our capital allocation framework.

Our exploration strategy is centered on continuing to extend the mine lives of our core assets to well beyond ten years and discovering new greenfield projects. While we see significant opportunities across our portfolio, we are particularly pleased with the potential defined at our flagship mines; Sabodala-Massawa, Hounde and Ity. We believe these mines have the potential to be Tier 1 assets with over 10 million ounces resource endowment, inclusive of historical production. We are also very pleased to demonstrate the opportunities identified at our recently acquired assets, which have the potential to grow their current resources by as much as 60%.

Setting these exploration targets demonstrates our commitment to both near-term and long-term growth and underpins our ability to be a resilient and reliable business. We believe that we offer a strong investment appeal due to the long-term visibility across our business, through our minimum progressive dividend outlook which is supported by a robust five-year production outlook, near-term growth prospects from existing projects, and our new five-year discovery horizon that provides the foundation for longer-term success.”

Table 1 illustrates the areas of focus for the discovery targets, with the majority expected to occur at existing mines, supporting the Company’s objective of continuing to extend mine lives to beyond ten years, in addition to discovering at least one new standalone greenfield project over the next five years. The potential quantity of ounces is conceptual in nature since there has been insufficient exploration to define a mineral resource and it is uncertain if exploration will result in the targets being delineated as a mineral resource.

Table 1: Resources and 5-year Discovery Target

¹For details reference press release date 18 March, 2021 available on the Company’s website. Mineral Reserve Estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definitions Standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

²For methodology details please refer to the Methodology section below. Targeted Indicated Resources are based on average tonnage and average gold grades of 24 – 48Mt at 1.5 – 3.5g/t for Sabodala-Massawa, 25 – 67Mt at 1.4 – 5.0g/t for Houndé, 47 – 54Mt at 2.0 – 3.0g/t for Greater Ity, 12 – 24Mt at 1.3 – 4.0 g/t for Mana, 18 – 49Mt at 0.95 – 3.5g/t for Greenfield, 21 – 28Mt at 1.8 – 2.0g/t for Fetekro, 21 – 39Mt at 1.2 – 3.0g/t for Wahgnion and 19 – 21Mt at 1.5 – 2.5g/t for Boungou. Note that Karma was not included in the outlook as it is a non-core mine and the Fetekro was prioritized over Kalana for the project related exploration.

DETAILS BY ASSET

Ity mine

At Ity, between 3.5 and 4.5Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $17/oz.

Exploration efforts in the near term will be focused on the larger Le Plaque area, the Yopleu-Legaleu extension, the new discovery named West Flotouo, Daapleu Deep, and the area located at the junction between the Bakatouo and Walter deposits.

A full geological re-interpretation of the Ity area led to the discovery and prioritisation of the West Flotouo target, which is located immediately below an old Verse West waste dump. West Flotouo is a series of continuous high grade mineralised lenses, located in the immediate proximity of the Ity plant. Delineation is currently ongoing, and this new discovery, which remains open to the North, South and at depth, is expected to have a new maiden resource published prior to year-end.

The Le Plaque mineralisation is open both along strike and at depth in the Delta Extension area, while the Yopleu-Legaleu area has delivered promising drill results, both of which are expected to contribute to the larger Le Plaque area resource update later this year. Very positive drilling was also conducted at depth at Daapleu. The results confirmed that mineralisation extends at least 300 meters down-dip of the current pit design. At the junction between the Bakatouo and Walter deposits drilling has confirmed the continuity of mineralisation between both skarn type deposits, and illustrates the global continuity of mineralisation around the whole dioritic-granodioritic Ity intrusion.

Houndé mine

At Houndé, between 3.0 and 4.0Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $19/oz.

Exploration efforts are currently focused on Vindaloo South, Mambo and the junction between Kari Gap and Kari Center, in addition to integrating Golden Hill within the Houndé mine complex. In the near-term, drilling will commence on higher grade targets such as Sia Sianikoui and Dohoum.

The Mambo target, located at the boundary between a volcanic and a granitoid intrusive, has the potential to be a significant discovery. Its mineralised trend now extends more than 800 meters, with the possibility of extending its strike length to between 1.0 and 1.2 kilometers. Mineralisation appears to remain open to the North East, South West and at depth. Step out drilling is underway, targeting the lateral extensions of Mambo. An initial maiden resource is expected to be published before year-end.

Significant potential has been identified at Golden Hill, which is an advanced-stage exploration property on the Houndé Belt within trucking distance of Houndé. New interpretations suggest that mineralisation is associated with linking structures developed between the main Boni shear and a splay to the east and a successful drill validation of the concept will present an opportunity to extend that mineralisation. The Saleteon felsic intrusive appears to be a significant target measuring 4 kilometers by 3 kilometers in size. It already hosts three of the five existing deposits, has visible gold in drilling and strong geochemical anomalies over the central portion that remain untested by drilling.

Sabodala-Massawa mine

At Sabodala-Massawa, between 2.3 and 2.7Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $26/oz.

Endeavour has successfully identified more than 15 potential targets within 30 kilometers of the Sabodala plant, while further significant potential exists with only half of Endeavour’s 1,240 square kilometer land package currently assessed.

Near-term exploration focus will centre on the discovery of non-refractory resources on the Massawa permit, which would enable the optimisation of the mine sequencing and grade profile to maximise returns from the Phase 1 expansion, which is due to be completed later this year. Longer-term, significant additional upside exists within the combined Sabodala-Massawa area for both refractory and non-refractory resources, which may provide additional feed for the Phase 2 expansion.

Current exploration efforts are mainly focused on Samina, Tina, Sofia North Extension and Bambaraya targets.

At the Samina deposit, the Company has extended the 500 meters mineralised strike length to more than 900 meters, and mineralisation remains open to the north. As such, efforts will continue to be focused on testing this extension. Drilling conducted at the Tina deposit has focused on expanding the Inferred Resources defined in 2019 and converting them into Indicated resources. The mineralised strike length has been extended by more than 300 meters while the deposit remains open to the north and the southeast. The Sofia North deposit has been extended by more than 800 meters along strike with an average width of 150 meters, and it remains open to the north and at depth.

Beyond Massawa, the near-term focus will be at Bambaraya, Makana, Tiwana and Thianga. Bambaraya is a high priority target within the Massawa permit located 13 kilometers from the mill. It is a Loulo type mineralisation style, in a setting that is gently dipping with good grades. Mineralisation to the north has been extended by more than 800 meters.

While the Massawa permit will remain a priority, exploration will also be advanced in the relatively underexplored adjacent Kanoumba and Bransan permits, located 20 to 40 kilometers from the plant. Several highly prospective refractory and non-refractory targets have been identified on these permits, which are expected to feed the longer-term discovery pipeline.

Wahgnion mine

At Wahgnion, between 1.5 to 2.0Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $25/oz.

The exploration program will focus on open pit targets located within 10 kilometers of the existing plant. The short-term focus is on both the Nogbele North and Nogbele South deposits, targeting the continuation of mineralised structures beneath and between the Nogbele pits.

The Wahgnion mine was developed quickly under its previous ownership to feed the plant which was running at 30% above its nameplate capacity. As a result, some of the deposits have only been drilled down to relatively shallow depths or along a limited length as such, may contain significant resource upside. Several non-refractory ore targets are drill-ready and are expected to quickly be followed up on. Over the longer term, a number of the satellite deposits and targets will be subject to a multi-year effort given the significant exploration potential.

Boungou mine

At Boungou, between 1.0 to 1.5Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $32/oz.

Geochemical sampling has been a successful exploration tool at Boungou, identifying 36 exploration targets to date. The near term focus is on extending the Natougou deposits, and advancing potentially higher grade targets identified within two key brownfield areas within 10 kilometers to the north of the mine. In addition, efforts will focus on Dangou Northeast, which is a potentially higher-grade greenfield target, located within 20 kilometers of the urban centre of Diapaga.

Drilling at Natougou Northwest identified a zone of mineralisation in the hanging wall of the Boungou shear that trends north-northwest and extends for more than 700 meters and remains open to the north. Drilling is underway to focus on delineating this trend.

At Boungou Northwest, drilling evaluated the continuation of the Boungou Shear mineralisation down plunge to the northwest of the mine. Initial results are promising, and a complete review of all drill results, expected later this year, will guide follow-up drilling in 2022.

Mineralization at Boungou is hosted by the shallow dipping Boungou Shear and the larger more steeply dipping TN45 structure. Re-interpretation of the geophysical and geologic datasets will help delineate structural and lithologic controls to the mineralisation and help in defining new targets.

Mana mine

At Mana, between 1.0 to 1.5Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $30/oz.

Although Mana has been in production for over a decade, significant exploration potential still remains. Following the integration of Mana within Endeavour’s business plan, the team has been restructured to provide fresh perspectives. Given that it is a mature exploration area, there was a strong need to re-interpret existing datasets and incorporate more structure and geology into the targeting strategy. In addition, given that most of the historical successful exploration was based on geochemical analysis, Endeavour will also be using geochemical sampling to refine targets in support of the revised strategy

Endeavour’s near-term focus will be on evaluating oxide open pit targets within 20 kilometers of the plant, such as Maoula, and on evaluating underground targets at Siou and Nyafe. Good potential has been identified in our efforts to increase the Wona and Siou underground resources which would offer potential to extract high-grade material.

Fetekro project

At Fetekro, between 1.2 and 1.8Moz of Indicated resources are targeted to be discovered over the next five years at an average discovery cost of $14/oz.

In the near-term, the Lafigué deposit remains the priority, while the longer-term focus is on delineating several identified targets on the Fetekro property.

The Lafigué deposit is currently the main discovery made at Fetekro and has now been traced over two kilometers in the east-northeast direction and over one kilometer down-dip. The mineralization occurs as free gold in quartz vein stockworks and zones of silicification associated with a tourmaline-carbonate-chlorite-sulphide alteration. Mineralisation is controlled by a thrust gently dipping to the south-southeast. Significant potential remains at Lafigué as some mineralised extensions have been delineated where pinching and swelling had earlier been misdiagnosed and where mineralisation appears to remain open.

At Lafigué North, the 2021 exploration program has focused on converting some of the remaining Inferred Resources into Indicated resources, but most of the activity has been in the area located in between the Lafigué Center and Lafigué North areas. The results of this drilling activity were successful and demonstrated the continuity of the mineralised system with the occurrence of shallow, subparallel, and stacked mineralised lenses that were previously located outside of the 2020 resources pit. Newly discovered mineralisation will be included in the new resource estimate which is expected later this year and will support the ongoing definitive feasibility study.

Greenfield properties

While Endeavour has identified several greenfield targets which have the potential to yield a new project, it has taken a conservative approach whereby it has only factored for one potential success within its 5-year discovery target, amounting between 1.5 and 2.0Moz of Indicated resources to be discovered at an average cost of $45/oz. Given the higher uncertainty related to greenfield exploration, compared to near-mine exploration, a low Probability of Occurrence multiplier was applied to greenfield targets (see Methodology section below for further details).

Advanced exploration properties include Tanda-Iguela and Afema in Cote d’Ivoire, Bantou and Liguidi in Burkina Faso, and Siguiri in Guinea. In addition, Endeavour holds significant exploration tenements along both the Houndé Belt and Ity Belt, which are expected to generate further greenfield targets.

EXPLORATION RANKING AND SCREENING METHODOLOGY

Endeavour’s large land position (more than 17,000 sq Km) and comprehensive database over a very large number of exploration targets promotes the application of a general portfolio management theory where all numerous and independent exploration targets are statistically analysed and risked, according to their probability of success or occurrence. As applied to the Group’s previous five-year exploration programme, Endeavour’s exploration success has been based on the implementation of a systematic, statistically driven approach to selecting and optimising exploration targets. This approach was derived from a similar process used in the oil and gas industry to predict, analyse, rank and then prioritise a large number of exploration targets, as summarised below. It is important to note that this approach can only be performed with a significant number of independent exploration targets, where the larger the number, the better the global portfolio value estimate.

Step 1: Exhaustive technical screening of the exploration portfolio based on geological data
The initial screening incorporated the exhaustive identification, selection, and ranking of all possible exploration targets occurring within Endeavour’s exploration portfolio. The technical analysis cross-referenced all available geological data, including geological maps, cross sections, structural data, surface geology, geochemistry, geophysics, regolith mapping, alteration profiles, drilling data, cores, analysis of artisanal mining activity, outcrops, and other survey data.

Following this first screening, a total of 150 targets were identified and described.

Step 2: 150 targets were further screened based on mining characteristics and the potential to have low production costs
The 150 targets were further screened by incorporating some tentative mining and processing costs parameters, to establish a selection of top targets which were appraised to have the potential to be produced at a low All-in Sustaining Cost (“AISC”). The criteria used in this second screening phase included factors such as potential grade, metallurgy, strip ratio, production costs, mineralisation type, and distance to a mill. After this second screening phase, the selection was narrowed to 110 high priority targets.

Step 3: Probabilistic ounce and average grade distribution of selected 110 targets
This applied approach is similar to that used in the analysis of natural phenomenon and other industries where large volumes of calibration data are used to predict individual and then global outcomes. It can also be applied to an exploration portfolio containing a high number of identified targets where a significant amount of calibration data may allow an accurate prediction of the total ounces to be discovered over the full portfolio despite individual outcomes potentially varying widely.

Based on available information, Endeavour characterized all the physical parameters such as length, width, thickness, density, grade characterizing each of the 110 selected targets to establish a prediction of the minimum, maximum and mean values distribution for each parameter related to each individual target. Since each of the selected targets cannot possibly be all positive, a probabilistic weighting, defined as a Probability of Occurrence (“PoO”) factor, was then applied to the mean values of each target. Since all 110 selected targets were defined as independent, the total value (total ounces predicted) of the portfolio could be approached by adding all the risked mean Indicated resources expected from each of the 110 targets.

PoOs represent the confidence or supporting control Endeavour has in describing, precisely the deposit it is trying to discover. The PoO values were set for each of the selected targets on a scale ranging from 0.2 to 0.8, with the very few, very low probability targets generally being eliminated due to a “killing” factor, such as possible refractory characteristics, lower expected average grade or continuity, or other highly unfavorable parameters.

The full analysis of the selected 110 targets resulted in the conclusion that up to 25Moz could ultimately be discovered over the full exploration portfolio, irrespective of the timeframe selected.

Step 4: Final selection of targets, with higher PoO and priority, which can be physically be included in the 5 year exploration plan
Since Endeavour cannot feasibly explore the 110 targets, defined in Step 3, during the next 5-year period, the 110 targets were further assessed, classified and ranked against near-term mine priorities. This resulted in the final selection of the top 70 targets deemed to better fit the overall strategy.

The final output of the strategic exploration analysis is a quantitative, multi-screened and filtered estimate of the total potential ounces hosted in the Group’s portfolio, where 15 to 20Moz of Indicated resources are targeted to be discovered within the next five years.

The applied approach does not mean that all selected and explored targets will be successful when taken individually, as some are likely to fail to deliver a deposit while others will outperform individual expectations. However, there can be reasonable confidence in achieving the total global estimated Indicated resources within the 5-year exploration programme. As such, it’s reasonable to expect the achievement of the global target, but the individual successes that drive the global achievement may differ, sometimes significantly from the original estimate.

Step 5: Strategic prioritisation to establish 5–year programme
Finally, an individual risked budget was established for each target in order to reach an Indicated resource status level. To develop the execution plan, most selected exploration targets were then set within the 5-year exploration programme, according to corporate and mine priorities, license duration, sequencing of required activities and available exploration budget.

QUALIFIED PERSONS
Jonathan Lawrence (FAIG, MAusIMM), VP Exploration – Burkina Faso for Endeavour Mining, has reviewed and approved the technical information in this news release. Jonathan has more than 20 years of mineral exploration and mining experience and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

CONTACT INFORMATION

ABOUT ENDEAVOUR MINING CORPORATION

Endeavour Mining is one of the world’s top ten senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London and Toronto Stock Exchanges under the symbol EDV.

For more information, please visit www.endeavourmining.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Endeavour with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding Endeavour’s exploration potential, targeted exploration estimates, contained ounces, grades and estimated discovery costs, , the estimation of mineral resources, the realization of mineral resource estimates, and the timing and amount of estimated future mineral resources..

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Endeavour management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Endeavour believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. This forward-looking information may be affected by risks and uncertainties in the combined business of Endeavour and market conditions, including (1) there being no significant disruptions affecting Endeavour’s operations whether due to extreme weather events and other or related natural disasters, labor disruptions, supply disruptions, power disruptions, damage to equipment or otherwise, or as a result of the Covid 19 pandemic; (2) permitting, development, operations and production for the Company’s mines and exploration projects, respectively, being consistent with Endeavour’s expectations; (3) political and legal developments in the juridictions where the Company operates being consistent with current expectations; (4) certain price assumptions for gold; (5) the accuracy of Endeavour’s mineral resource estimates; and (6) labor and materials costs increasing on a basis consistent with Endeavour’s current expectations. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Endeavour with the Canadian securities regulators, including Endeavour’s annual information form, financial statements and related MD&A for the financial year ended December 31, 2020 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward–looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Endeavour has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Endeavour does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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

Attachments

• Endeavour Exploration Strategy Presentation

• Endeavour Exploration Strategy News Release

TORONTO, Sept. 30, 2021 /CNW/ – LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce new drill hole assay results of the ongoing 2021 drilling program focussing on the strike continuity between the A-Zone and McLeod mineralized areas on the Ishkoday Property, located 220 km northeast of Thunder Bay.

Highlights of current drill hole results include:

• 0.77 g/t Au, 4.31 g/t Ag, 0.83% Zn over 20m on hole LBX21-045 between 145 and 165m.

• 0.71 g/t Au, 13.29 g/t Ag, 0.17% Cu and 2.22% Zn over 13.5m on hole LBX21-046 between 138.5 and 152 m (See Figure 1).

The current assay results, combined with new geological understanding, confirms the presence of volcanogenic mineralization (A-Zone type) over the whole strike length between the McLeod Zone and A-Zone. The strike length across the mineralized zones is approximately 1.4 km, with a confirmed depth up to 150 m from the surface.

A soil survey completed north of the Sturgeon River, 1.5 km north of the McLeod Zone highlighted several copper anomalies, confirming the potential for additional volcanogenic mineralization North of the current area of focus.

Diamond Drilling Results:

Drilling resumed on August 19, 2021, following the lifting of the forest fire restrictions in the region. In-fill drilling focussed on linking the A-Zone and the McLeod Zone mineralized horizons. A total of 11 drill holes were completed to date, and LAURION is pleased to issue results of the first two drill holes, LBX21-045 and 046.

Mineralization occurs in a series of intermediate to felsic volcanic units cut by dioritic dykes. The majority of the mineralization is located in pervasive pyrite-sphalerite-quartz-carbonate stockworks and veins, with some massive sulphide horizons. A two (2) metre long semi-massive sulphide interval was intersected in hole LBX21-046 and is composed of sphalerite-pyrite-chalcopyrite-galena (see Figure 1). Brecciated quartz, magnetite banding with strong sericite-chlorite and silica alteration is also observed within the same intersection. The hole was stopped in a mineralized quartz vein (last 3.5 metres) due to technical issues on the hole. The completed results for the mineralized zones can be found in Table 1 below.

Table 1: Selected Best Results from Diamond Drilling Connecting the Mineralized Zone Between McLeod Zone and A-Zone:

Since the discovery of the McLeod Zone, there has been very little exploration conducted in the swamp area between both showings (McLeod and A-Zone) and recent advances showed that the A-Zone mineralization is similar to the McLeod Zone. Based on LAURION's recent exploration focus in the area, this sector was prioritized for the second phase of the 2021 drilling campaign. Results from LBX21-045 and LBX21-046 aided in confirming the continuity along strike between both zones. These results combined with the discovery of two historical trenches south-west of McLeod Zone show that the system remains open in all directions.

Table 2: Drill hole coordinates for drill holes LBX21-040 to -046.

Soil Sampling Results

In the past, limited exploration work was conducted in the northern area of the Ishkoday project. A total of 5 historic drill holes were completed on the River Showing and yielded good results (DDH 88-22 with 10.37m @ 0.20 g/t Au 13.62 g/t Ag and 1.22% Cu).

Previous grab samples also yielded copper results grading over 1.8% Cu. Two magnetic high anomalies are also present on the northern portion of the project, which are interpreted to represent possible extensions of the A-Zone system.

A soil sampling survey was conducted to cover the eastern part of the property up to 1km north of the Namewaminikan river, which is located 700m north of the A-Zone. A total of 859 samples were taken from the B-horizon in available soils. All samples were dried, sieved and assayed onsite using a portable XRF to detect any anomalies in base metals. Copper returned anomalous results ranging from 25ppm up to 191ppm for 48 samples. Indications from soil sampling, grab sampling and historical drilling, indicate a potential extension of mineralization over that area and requires further prospecting and possible trenching (See Figure 2).

QAQC

All core samples have been assayed by ALS Laboratories in Thunder Bay, Ontario. Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish. A total of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assays results pulps will be sent for re-assays. A total of 8.7% blanks and 9.5% standard were randomly inserted during the pXRF analyse of the soil sampling. 2.8% we re-analyzed. All QAQC were verified, and no contamination or bias have been observed.

Qualified Person

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

About LAURION

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 238,069,240 outstanding shares of which approximately 79% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The Brenbar Property, acquired in 2020, is contiguous with the Ishkoday Property and hosts the historic Brenbar Mine. LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Caution Regarding Forward-Looking Information

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

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

SOURCE Laurion Mineral Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/September2021/30/c5239.html

Figure 1

Maricunga project – Old Code and New Code properties

Figure 2

Geological Exploration Target

VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture:BRZ) (OTCQB:BLILF) the Company is pleased to provide a Maricunga project update.

Highlights

• Updated Measured and Indicated resource for the Maricunga Stage One Lithium Brine Project in Chile confirmed an increase by 90 per cent compared with 2019 Definitive Feasibility Study.

• Measured and Indicated (M&I) resource now estimated as 1,905,000 tonnes of Lithium Carbonate Equivalent (LCE) for the Stage One (Old Code) mining properties at an average grade of 953 mg/l lithium.

• This increase in M+I Resources is in addition to the M+I Resources (2018) of 979,000 tonnes LCE in the Litio 1-6 (New Code) concessions to a depth of 200 m.

• The Maricunga resource remains open at depth, with a new exploration target for further resource expansion between 400m-550m in the Stage One concessions.

• The DFS update for the Stage One continues as expected by Worley, GEA Messo and Atacama Waters.

• The latest drilling for the resource increase on the Stage One mining concessions at Maricunga has been completed, with the five exploration core holes each reaching target depth of 400m.

Access to the full technical report prepared by Atacama Water Consultants is available on SEDAR.com and the BRZ website at https://www.bearinglithium.com/research-reports/

Resource Estimate Highlights

The updated resource estimate of 1,905,000 tonnes of lithium carbonate equivalent (LCE) represents close to double the initial resource of 1,020,000 tonnes of LCE in the equivalent area (Stage One) in the 2019 Definitive Feasibility Study (DFS). A resource equivalent to 4.95 Mt of KCl was also defined. The resource estimate was prepared in accordance with JORC and NI 43-101 international reporting standards. Results are summarized in Table 1.

Table 1: Mineral Resource Estimate for Lithium Metal (Li) and Potassium

Table 2 shows the total resources of the Stage One concessions (Old Code concessions) expressed as Lithium Carbonate Equivalent (LCE) and Potash (KCL).

Table 2: Mineral Resource Estimate for Lithium Carbonate Equivalent (LCE) and Potash

1. Lithium is converted to lithium carbonate (Li2CO3) with a conversion factor of 5.32.

2. Potassium is converted to potash with a conversion factor of 1.91

3. Numbers may not add due to rounding.

The Stage One project comprises the Old Code properties of Cocina 19-27, Salamina, Despreciada and San Francisco, which have a total combined area of 1,125 hectares (Figure 1). These properties were constituted under the 1932 Chilean mining law and have grandfathered rights for the exploitation, production and sale of lithium.

It should be noted that the M+I Resources described above in Tables 1 and 2 are in addition to the M+I Resources (2018) of 184 Kt Lithium (979 Kt LCE) in the Litio 1-6 (New Code) concessions to a depth of 200 m.

The Maricunga resource remains open at depth. A new Exploration Target between 400m-550m has been defined for further resource expansion below the Old Code Concessions, and between 200m– 550m below the New Code concessions. They could potentially contain between 1.2Mt-2.1Mt of LCE¹. Figure 2 illustrates the geological exploration target for all of the Maricunga concessions.

¹ An Exploration Target is not a mineral resource. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to define a Mineral Resource in the volume where the Exploration Target is outlined. It is uncertain if further exploration drilling will result in the determination of a Mineral Resource in this volume

Figure 1: Maricunga project – Old Code and New Code properties is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8fd5fea2-7028-46b4-a8a7-5a06ddd7f55e

Figure 2: Geological Exploration Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe0a445e-dae3-4e1b-a5ee-5060aa9bdcd0

Minera Salar Blanco SA’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“We are very pleased with these updated results, which confirm Maricunga as one of the world’s richest lithium brine deposits. Technical activities continue towards the completion of an updated DFS in Q4 2021. The financing for Stage One is now a priority, with preliminary indications of interest received from international financial institutions and private funds for debt and equity financing of the project.”

Bearing Lithium Corporation’s Chairman, Gil Playford commented:

“Increasing the 100% owned Stage 1 Old Concession Resources by 90% solidifies the viability of the Definitive Feasibility Study scheduled for Q4 2021. Having exploration potential at depth for both the old and new concessions portends future growth for the Maricunga Salar.”

Competent Person Statements

I, Frederik Reidel, CPG, as author of this report entitled “NI 43-101 Technical Report: Lithium Resources Update, Blanco Project- ‘Old Code’ Concessions, III Region Chile, prepared for Minera Salar Blanco S.A., dated September 20, 2021 do hereby certify that:

1. I am employed as Principal Hydrogeologist and General Manager by Atacama Water-Chile, residing at Badajoz 45, OF 1701, Las Condes, Santiago, Chile.

2. I am a graduate of New Mexico Institute of Mining and Technology with a Bachelors of Science Degree in Geophysics, 1986

3. I am a registered Certified Professional Geologist (#11454) with the American Institute of Professional Geologists

4. I have worked as hydrogeologist for more than 30 years since my graduation. My relevant experience for the purpose of the Technical Report is:

   • Qualified Person for the Sal de los Angeles Project, Salta Argentina for LiX Energy Corp (2016 – to date).

   • Qualified Person and Member of the technical committees of Li3 Energy Ltd and Minera Salar Blanco for the development of the Maricunga Lithium Project in Chile (2011 – to date).

   • Co-author of the NI 43-101 Technical Report on the lithium and potash resources in Salar de Maricunga for Li3 Energy Ltd (2012).

   • Evaluation of lithium and potash resources in Salar de Olaroz for Orocobre Ltd. in support of the project’s DFS and NI 43-101 Technical Report (2010-2011).

   • Evaluation of lithium and potash resources in Salar de Cauchari for Lithium Americas Corporation; NI 43- 101 Technical Report preparation; member of the company’s Technical Advisory Panel (2009-2010).

   • Evaluation of brine resources in Salar de Hombre Muerto for FMC (1992-1993)

   • Consulting hydrogeologist in the evaluation and development of groundwater resources for international mining companies in North- and South America (1989-2012).

5. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

6. I have visited the Salar de Maricunga and the Blanco Project area numerous times between August 2011 and to date. I was present on site on a regular basis during the 2011 – 2021 drilling and testing programs.

7. I have been involved as a QP with the property since 2011.

8. I am responsible for the overall preparation of this report.

9. I am independent of the Issuer applying the test set out in Section 1.4 of NI 43-101.

10. I have read NI43-101, and the Technical Report has been prepared incompliance with NI43-101 and Form43- 101F1.

11. To the best of my knowledge, information, and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading.

Dated this 20^th day of September 2021.

Frederik Reidel, CP

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.

ON BEHALF OF THE BOARD

Signed "Gil Playford”

Gil Playford, Chairman

gplayford@bearinglithium.com

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

Cautionary Statements Regarding Forward Looking Information

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

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

Figure 1

Maricunga project – Old Code and New Code properties

Figure 2

Geological Exploration Target

VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture:BRZ) (OTCQB:BLILF) the Company is pleased to provide a Maricunga project update.

Highlights

• Updated Measured and Indicated resource for the Maricunga Stage One Lithium Brine Project in Chile confirmed an increase by 90 per cent compared with 2019 Definitive Feasibility Study.

• Measured and Indicated (M&I) resource now estimated as 1,905,000 tonnes of Lithium Carbonate Equivalent (LCE) for the Stage One (Old Code) mining properties at an average grade of 953 mg/l lithium.

• This increase in M+I Resources is in addition to the M+I Resources (2018) of 979,000 tonnes LCE in the Litio 1-6 (New Code) concessions to a depth of 200 m.

• The Maricunga resource remains open at depth, with a new exploration target for further resource expansion between 400m-550m in the Stage One concessions.

• The DFS update for the Stage One continues as expected by Worley, GEA Messo and Atacama Waters.

• The latest drilling for the resource increase on the Stage One mining concessions at Maricunga has been completed, with the five exploration core holes each reaching target depth of 400m.

Access to the full technical report prepared by Atacama Water Consultants is available on SEDAR.com and the BRZ website at https://www.bearinglithium.com/research-reports/

Resource Estimate Highlights

The updated resource estimate of 1,905,000 tonnes of lithium carbonate equivalent (LCE) represents close to double the initial resource of 1,020,000 tonnes of LCE in the equivalent area (Stage One) in the 2019 Definitive Feasibility Study (DFS). A resource equivalent to 4.95 Mt of KCl was also defined. The resource estimate was prepared in accordance with JORC and NI 43-101 international reporting standards. Results are summarized in Table 1.

Table 1: Mineral Resource Estimate for Lithium Metal (Li) and Potassium

Table 2 shows the total resources of the Stage One concessions (Old Code concessions) expressed as Lithium Carbonate Equivalent (LCE) and Potash (KCL).

Table 2: Mineral Resource Estimate for Lithium Carbonate Equivalent (LCE) and Potash

1. Lithium is converted to lithium carbonate (Li2CO3) with a conversion factor of 5.32.

2. Potassium is converted to potash with a conversion factor of 1.91

3. Numbers may not add due to rounding.

The Stage One project comprises the Old Code properties of Cocina 19-27, Salamina, Despreciada and San Francisco, which have a total combined area of 1,125 hectares (Figure 1). These properties were constituted under the 1932 Chilean mining law and have grandfathered rights for the exploitation, production and sale of lithium.

It should be noted that the M+I Resources described above in Tables 1 and 2 are in addition to the M+I Resources (2018) of 184 Kt Lithium (979 Kt LCE) in the Litio 1-6 (New Code) concessions to a depth of 200 m.

The Maricunga resource remains open at depth. A new Exploration Target between 400m-550m has been defined for further resource expansion below the Old Code Concessions, and between 200m– 550m below the New Code concessions. They could potentially contain between 1.2Mt-2.1Mt of LCE¹. Figure 2 illustrates the geological exploration target for all of the Maricunga concessions.

¹ An Exploration Target is not a mineral resource. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to define a Mineral Resource in the volume where the Exploration Target is outlined. It is uncertain if further exploration drilling will result in the determination of a Mineral Resource in this volume

Figure 1: Maricunga project – Old Code and New Code properties is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8fd5fea2-7028-46b4-a8a7-5a06ddd7f55e

Figure 2: Geological Exploration Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe0a445e-dae3-4e1b-a5ee-5060aa9bdcd0

Minera Salar Blanco SA’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“We are very pleased with these updated results, which confirm Maricunga as one of the world’s richest lithium brine deposits. Technical activities continue towards the completion of an updated DFS in Q4 2021. The financing for Stage One is now a priority, with preliminary indications of interest received from international financial institutions and private funds for debt and equity financing of the project.”

Bearing Lithium Corporation’s Chairman, Gil Playford commented:

“Increasing the 100% owned Stage 1 Old Concession Resources by 90% solidifies the viability of the Definitive Feasibility Study scheduled for Q4 2021. Having exploration potential at depth for both the old and new concessions portends future growth for the Maricunga Salar.”

Competent Person Statements

I, Frederik Reidel, CPG, as author of this report entitled “NI 43-101 Technical Report: Lithium Resources Update, Blanco Project- ‘Old Code’ Concessions, III Region Chile, prepared for Minera Salar Blanco S.A., dated September 20, 2021 do hereby certify that:

1. I am employed as Principal Hydrogeologist and General Manager by Atacama Water-Chile, residing at Badajoz 45, OF 1701, Las Condes, Santiago, Chile.

2. I am a graduate of New Mexico Institute of Mining and Technology with a Bachelors of Science Degree in Geophysics, 1986

3. I am a registered Certified Professional Geologist (#11454) with the American Institute of Professional Geologists

4. I have worked as hydrogeologist for more than 30 years since my graduation. My relevant experience for the purpose of the Technical Report is:

   • Qualified Person for the Sal de los Angeles Project, Salta Argentina for LiX Energy Corp (2016 – to date).

   • Qualified Person and Member of the technical committees of Li3 Energy Ltd and Minera Salar Blanco for the development of the Maricunga Lithium Project in Chile (2011 – to date).

   • Co-author of the NI 43-101 Technical Report on the lithium and potash resources in Salar de Maricunga for Li3 Energy Ltd (2012).

   • Evaluation of lithium and potash resources in Salar de Olaroz for Orocobre Ltd. in support of the project’s DFS and NI 43-101 Technical Report (2010-2011).

   • Evaluation of lithium and potash resources in Salar de Cauchari for Lithium Americas Corporation; NI 43- 101 Technical Report preparation; member of the company’s Technical Advisory Panel (2009-2010).

   • Evaluation of brine resources in Salar de Hombre Muerto for FMC (1992-1993)

   • Consulting hydrogeologist in the evaluation and development of groundwater resources for international mining companies in North- and South America (1989-2012).

5. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

6. I have visited the Salar de Maricunga and the Blanco Project area numerous times between August 2011 and to date. I was present on site on a regular basis during the 2011 – 2021 drilling and testing programs.

7. I have been involved as a QP with the property since 2011.

8. I am responsible for the overall preparation of this report.

9. I am independent of the Issuer applying the test set out in Section 1.4 of NI 43-101.

10. I have read NI43-101, and the Technical Report has been prepared incompliance with NI43-101 and Form43- 101F1.

11. To the best of my knowledge, information, and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading.

Dated this 20^th day of September 2021.

Frederik Reidel, CP

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.

ON BEHALF OF THE BOARD

Signed "Gil Playford”

Gil Playford, Chairman

gplayford@bearinglithium.com

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

Cautionary Statements Regarding Forward Looking Information

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

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

Vancouver, British Columbia–(Newsfile Corp. – September 28, 2021) – Comstock Metals Ltd. (TSXV: CSL) ("Comstock" or the "Company") is pleased to announce that it is has amended the terms of its previously disclosed proposed non-brokered private placement of units ("Units") and flow-through units ("FT Units") (see press release dated March 12, 2021).

The Company anticipates that the offerings will be comprised of 1,715,000 Units and 2,225,000 FT Units. Each Unit will be priced at $0.09 and will consist of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company (a "Warrant Share") at an exercise price of $0.12 per Warrant Share for a period of 24 months from the closing of the offering. Each FT Unit will be priced at $0.11 and consist of one flow-through common share in the capital of the Company (a "FT Share") and one Warrant. The expiry date of the Warrants will be subject to an acceleration provision that will provide that if the closing price of the Company's common shares is equal to or greater than $0.24 for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants with the revised expiry date being 30 days from the date of the notice to the warrant holders. The acceleration of the Warrant expiry date may not be triggered prior to four months and one day after the Warrants are issued.

The Company will use the gross proceeds of the offering of FT Units for eligible exploration expenditures, which will constitute "Canadian Exploration Expenses" ("CEE") that are "Flow-Through mining expenditures", as defined in the Income Tax Act (Canada) which can be renounced to purchasers of the FT Units for the 2021 taxation year in the aggregate amount of not less than the total amount of the gross proceeds raised from the flow-through offering. The CEE shall be incurred no later than December 31, 2022.

The proceeds from the offering of Units will be used to fund exploration on the Company's Preview SW gold deposit (with a focus on Comstock's Preview North zone) located in Saskatchewan, Canada and for general working capital.

The offerings are being offered on a non-brokered private placement basis in certain provinces of Canada and such other jurisdictions as the Company may determine in its sole discretion and will be subject to a statutory hold period of four (4) months and a day from the closing of the offerings. The Company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange. The offerings remain subject to the approval of the TSX Venture Exchange. The securities to be issued under the offerings have not been, and will not be, registered under the U.S. Securities Act or any U.S. 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 absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

Pursuant to the proposed offering, insiders within the Company (including the Company's CEO, Steven Goldman as well as the Company's Chairman, Arnold Tenney, or parties related to the CEO and Chairman) will be participating. As such, the Company will be issuing securities to purchasers that are considered "related parties" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101")), making the applicable offering a "related party transaction" (within the meaning of MI 61-101) (the "Related Party Subscriptions"). If such sales are completed the Company will be exempt from obtaining a formal valuation for, and minority approval of, the Related Party Subscriptions pursuant to Section 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. Mr. Goldman has previously filed an early warning respect to the securities of the Company which he owns or has control of and the securities being acquired under the offering are not anticipated to result in a change of ownership that would necessitate the filing of an updated early warning report.

Closing of the offerings remains subject to approval of the TSX Venture Exchange. The Company did not seek Exchange approval for the financing announced on March 12, 2021 and as a result the price protection associated with such financing has lapsed. This press release will serve as the price reservation for the current offerings referenced herein.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements of the 1933 Act any application state securities laws.

About Comstock Metals Ltd.

Comstock Metals is advancing the Preview SW Gold Project, a resource-stage gold project in the La Ronge district of Saskatchewan. The Preview SW deposit hosts indicated mineral resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and inferred mineral resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au), both based on a 0.50 g/t Au cut-off grade^[1]. During 2017 and 2018, Comstock completed diamond drilling campaigns targeting the Preview North zone and the Preview SW deposit comprising 24 holes totaling 4,700 metres. Several additional, relatively untested targets remain on the Property, including the A, B, C, and Clearwater zones (Map 2).

Map 2. Preview SW Property Map Showing Drilled Gold Zones

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7078/97887_6190e2d7141f3abc_001full.jpg

For further details, see the Company's website at www.comstock-metals.com

Qualified Persons

The scientific and technical information contained in this news release as it relates to the Preview SW Gold Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated closing of the proposed financing and the use of proceeds resulting therefrom. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. The assumptions on which the forward-looking statements contained herein rely include the ability to complete the proposed financing and receipt of regulatory approval. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

For more information about Comstock Metals Ltd., please refer to Comstock Metals' website at www.comstock-metals.com or contact:

Steven H. Goldman
President, CEO and Director
COMSTOCK METALS LTD.
Cell Phone: (416) 917-1533
Email: s.goldman@goldmanhine.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.

^[1] The Company has filed on SEDAR the 43-101 Technical Report, Preview SW Gold Project, La Ronge, Saskatchewan, prepared for Comstock Metals Ltd. by Ronald G. Simpson, P.Geo., Geosim Services Inc. Effective date September 27, 2016.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97887

VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to report results of 2021 Phase 2a diamond drilling at the Lone Star Zone, Klondike District Property, Yukon. Twelve (12) holes totalling 1,222 meters were completed in July 2021. Klondike Gold is pleased that near-surface gold mineralization at the Lone Star Zone has been significantly extended east by 250 meters or ~25% greater in length with these results.

Assay highlights from this phase of Lone Star Zone drilling includes:

• 1.70 g/t Au over 14.6 meters from 21.0 meters to 35.6 in LS21-388

• 1.08 g/t Au over 49.65 meters from 40.35 meters to 90.0 meters in LS21-389

• 2.9 g/t Au over 11.0 meters from 15.0 meters to 26.0 meters in LS21-392

• 3.23 g/t Au over 6.0 meters from 58.0 meters in LS21-394

• 0.84 g/t Au over 29.0 meters from 4.0 meters to 33.0 meters in LS21-399

• 1.11 g/t Au over 23.5 meters from 1.5 meters to 25.0 meters in LS21-410

Peter Tallman, Klondike Gold's CEO states "Results continue to show the Lone Star Zone discovery hosts significant near-surface gold mineralization which is expandable and remains open in all directions. Near term milestones include a Geology technical report followed by a maiden mineral resource. The Company is well positioned to rapidly advance the Lone Star Zone as one among a number of 'pipeline' targets within our district-spanning 586 square kilometer claim package that has excellent access to existing highway, power, communications, commercial airport and town infrastructure."

LONE STAR ZONE PHASE 2 DRILLING

2021 drilling at the Lone Star ‘East' area (Phase 2a) tested for an eastern extension of the Lone Star Zone with 12 holes totalling 1,222 meters. See Figure 1 for drill hole locations and Table 1 for assay results on the Phase 2a Drilling on the Lone Star Zone.

These latest significant positive results at the Lone Star East target demonstrate continuity of mineralization at least 250 meters eastward beyond the currently defined Lone Star Zone gold mineralization model shell and also show downslope continuity of mineralization (see Figure 2 and Figure 3).

Positive results reported from the Lone Star Zone (Phase 2b) tested the downslope and potential down-dip extension (see News Release September 23, 2021). This work extended the downhill slope dip length to 350 meters from 200 meters.

Figure 1: Lone Star Zone Target Areas and 2021 Phase 2 Drill Holes.

Table 1: 2021 Lone Star Zone East (Phase 2a) Significant Results:

Figure 2: Cross-section 12575E sketch of Lone Star Zone mineralization including holes LS21-409 and LS21-411 from this news release showing downslope continuity of the zone.

Figure 3: Cross-section 12650E sketch of Lone Star Zone mineralization including holes LS21-388 and LS21-389 from this news release showing downslope continuity of the zone.

PHASE 4 DRILLING AND EXPLORATION UPDATE

Phase 3 drilling testing the Stander Zone was completed in August. Results are pending.

Phase 4 drilling testing along the Eldorado Fault in Eldorado Creek over a 4 kilometer length nears completion with drilling just finished and with logging and sampling in progress. A total of 13 holes were completed testing various targets exclusively. The holes targeted various graphitic fault zones evident from LIDAR surveying potentially associated with gold mineralization. One of these targets at the Gay Gulch Zone, the second of two original discoveries made in 2015, has previously returned significant gold intersections including 420 g/t Au over 0.4 meters within 75.6 g/t Au over 2.8 meters in the discovery hole EC15-10 (see News Release October 26, 2015). No estimate is yet known for availability and reporting of assay results.

Klondike Gold contracted GeoCloud Analytics of Melbourne, Australia to complete a detailed re-interpretation of the 2019 LIDAR survey data (see NR 23 September 2021). The work is in progress.

SRK Consulting of Toronto have been contracted to prepare a NI-43-101 Technical Report summarizing geology and exploration on the Company's Klondike District Project. Site visit field review has been completed. The report is in progress and is anticipated to be completed for filing by Q4 2021.

2021 ASSAY PROTOCOLS

All 2021 drill holes referenced in this release produced NTW (5.71cm dia.) drill core. Assay samples from drill core are cut using a diamond saw. Half the core sample interval is bagged, tagged, and sealed; the other half is returned to the core box with a corresponding tag and retained for reference. Two gold reference standards, two blank samples (a coarse and a fine), and a coarse sample duplicate per 100 samples, are routinely inserted as part of Klondike Gold's quality assurance / quality control ("QA/QC") program, independent of and additional to the laboratory QA/QC program.

Sample bags are aggregated into rice bags, sealed, and submitted by Klondike Gold personnel to Bureau Veritas Mineral Laboratories ("BV Labs") preparation facility in Whitehorse, YT with chemical analysis of sample pulps completed in Vancouver, British Columbia. Bureau Veritas Labs is an accredited ISO 9001:2008 full-service commercial laboratory.

At BV Labs each drill core sample is crushed to 70% passing 2 mm size. A 500 g subsample is pulverized to 85% passing 75 microns size (200 mesh)(Code PRP70-500). All samples of 500 g were sieved to 106 microns (140 mesh) for "metallic screen" assaying. The +140 mesh fraction is weighed and assayed for gold by fire assay ("FA") fusion with a gravimetric finish (Code FS631). A 30 g subsample of the -140 mesh fraction is assayed for gold by fire assay ("FA") fusion with an atomic absorption ("AA") finish (Code FA430). All over-limit results in excess of 10 ppm (10 g/t) for both silver and gold are re-assayed using a 30 g subsample and assayed by FA with a gravimetric finish (Code FA530-Au/Ag). Total gold grade is then calculated using a weighted average of the plus and minus fraction assay results.

QUALIFIED PERSONS REVIEW

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

COVID-19 UPDATE

Klondike Gold continues to take proactive measures to protect the health and safety of our local host community, our contractors and our employees from COVID 19. Exploration activities in 2021 continue to have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer. Over 95% of Klondike Gold's employees and contractors are fully vaccinated.

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.

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