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

Heading into today, shares of the uranium and vanadium miner and developer had lost 22.72% over the past month, lagging the Basic Materials sector's loss of 4.51% and the S&P 500's gain of 2.39% in that time.

UUUU will be looking to display strength as it nears its next earnings release. In that report, analysts expect UUUU to post earnings of -$0.04 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $5.48 million, up 1269.75% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $18.41 million. These totals would mark changes of +26.09% and +1010.62%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for UUUU. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.

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• Mr. Smith has used incomplete, faulty and misleading disclosure in his activist circular, and needs to correct this information immediately in a new circular.

• KPMG continues its forensic investigation of Mr. Smith’s prior misuse of corporate funds and corporate assets.

• Shareholders are encouraged to continue voting on the GOLD proxy. Shareholders with questions on voting should contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

VANCOUVER, British Columbia, July 09, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) would like to thank shareholders for their overwhelming support on the GOLD proxy as it continues to investigate Mr. Peter H. Smith’s conduct during his 30-year tenure at the Corporation. Mr. Smith spent 30 years using Fancamp as his personal bank account and it appears that he is planning to keep doing so in the future. Even worse, Mr. Smith has deliberately avoided disclosing how much he intends to take from the Corporation if he wins the proxy fight, all while asking shareholders to support him.

Shareholders need to know the truth about Mr. Smith. As the formal forensic investigation, with the assistance of KPMG International Ltd. ("KPMG") is advancing, Fancamp requires that Mr. Smith update and mail a revised circular that properly discloses his true intention for the use of corporate funds.

Mr. Smith’s Misleading Circular Disclosure Requires Remailing

While Mr. Smith claims he is on shareholders’ side, both his past and current actions tell a different story. Mr. Smith has tried to trick shareholders into obtaining their votes by omitting:

• How much he plans to take from the Corporation to fund his self-serving proxy fight, and

• The number of shares (common or special) he owns in Fancamp’s subsidiary, The Magpie Mines Inc. ("Magpie"), a valuable corporate asset which he personally controls.

The Corporation believes Mr. Smith has withheld this and other information intentionally to ensure it does not negatively impact what should be the balanced view of shareholders.

Mr. Smith started this proxy fight to regain control of the Corporation and has indicated he will use Fancamp’s money to personally repay himself for certain expenses; however, he has been purposely vague on the actual amount. Mr. Smith acknowledges in his circular that he will seek to be reimbursed $170,000 for proxy solicitation, but does not specify the extensive fees of his legal counsel and other advisors, nor the $527,000 his is seeking through the courts in retaliation for the for-cause termination of his consulting agreement with the Corporation. Taken together, the Corporation believes Mr. Smith will seek over $1 million to repay himself for the proxy contest he started.

Even if Mr. Smith and his legal counsel do not agree on the clear need for this transparency, they should take the advice of Mr. Smith’s proxy solicitor, who had previously and correctly argued for the importance of such disclosure. To paraphrase Gryphon Advisors in Australis Capital Inc.’s proxy fight (October 22, 2020) against Terry Booth:

"…this means that [Mr. Smith] and his Dissidents, if able to gain control of your Board and Company, will then seek to cover their fees with shareholders’ cash. Historically, the shareholder value destruction associated with [Mr. Smith] and his Dissident Nominees has taken some time. At [Fancamp], it would be immediate, material and come directly out of your pocket."¹

Fancamp agrees with the statement above.

Mr. Smith also failed to disclose his interest in Magpie, a valuable corporate asset that he paralyzed for his own personal benefit. Mr. Smith is required to disclose "the number of securities of each class of the venture issuer and any of its subsidiaries beneficially owned, or controlled or directed, directly or indirectly." However, Mr. Smith’s circular makes no reference to his Magpie common or special shares.

Additionally, Mr. Smith was required to pay for his Magpie special shares. However, early findings from KPMG’s forensic investigation found that Mr. Smith did not pay cash for his Magpie special shares, and despite his recent claims that he provided services for Magpie in exchange for the shares, there was no evidence of any such services being provided.

Unlike Mr. Smith, Fancamp believes it is critically important for shareholders to have a complete and transparent view of their investment and Corporation. While Mr. Smith has noted he "will seek reimbursement from Fancamp," he has failed to properly disclose how much he plans to take from Fancamp. Specifically, the circular indicates that Mr. Smith will ask Fancamp to pay for his legal fees but does not disclose the quantum of these fees. Fancamp believes that Mr. Smith should disclose this information, so that shareholders are fully informed when they vote.

Independent Forensic Investigation Continuing Despite Mr. Smith’s Non-Cooperation

The Corporation is pleased to share that the formal forensic investigation, with the assistance of KPMG, is advancing. However, given the extensive nature of the investigation, Mr. Smith’s failure to provide related documentation, and generally poor history of corporate record keeping in his time as CEO, more time is required to complete the investigation. The Corporation looks forward to providing full updates to shareholders as soon as possible.

Advisors

Lavery, de Billy, L.L.P. and Goodmans LLP are serving as legal advisor to Fancamp. Harris & Company LLP is serving as litigation counsel to Fancamp. Kingsdale Advisors is acting as strategic shareholder and communications advisor to Fancamp. Koffman Kalef LLP is serving as legal advisor to the Special Committee.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but 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.

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 news release.

¹ https://www.prnewswire.com/news-releases/australis-capital-issues-letter-to-shareholders-301158371.html

View source version on businesswire.com: https://www.businesswire.com/news/home/20210709005458/en/

Contacts

For Further Information
Rajesh Sharma, Chief Executive Officer
+1 (604) 434 8829
info@fancamp.ca

Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
info@fancamp.ca

Media Contact
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

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

TORONTO, July 07, 2021 (GLOBE NEWSWIRE) — Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is pleased to announce that it has closed its non-brokered private placement flow-through financing for gross proceeds of $720,000 (the “Offering”). For more information about the Offering, please see the Company’s press release dated May 27, 2021, which is available under the Company’s profile on SEDAR at www.sedar.com.

Pursuant to the Offering, Jourdan issued 14,400,000 units (each, a “Unit”) at a price of $0.05 per Unit. Each Unit was issued on a “flow-through basis” and consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.07 until July 7, 2023.

All securities issued in connection with the Offering are subject to a statutory hold period expiring on November 8, 2021. Completion of the Offering is subject to receipt of final approval of the TSX Venture Exchange (“TSXV”). Finder’s fees were paid in accordance with the policies of the TSXV to Roche Securities Limited consisting of a cash commission equal to $36,000 and an issuance of 360,000 finder warrants (“Finder Warrants”) and to Marquest Asset Management Inc. consisting of an issuance of 360,000 Finder Warrants. Each Finder Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.07 per share until July 7, 2023. The Company intends to use the net proceeds of the Offering to fund exploration expenditures on its Vallee, Preissac, Lacorne and Baillarge lithium mining properties and for general corporate purposes.

Rene Bharti, chief executive officer of Jourdan, commented, “We are excited to use the proceeds from this offering to accelerate our planned drilling campaign, which is the next step on our path to defining an initial mineral resource estimate. To that end, we have been ramping up exploration activities, most recently with a visit by our executive chairman, Dr. Andreas Rompel, to our Vallee property in Val d’Or to inspect the planned drill sites.”

Insiders of the Company subscribed for Units pursuant to the Offering (the “Insider Participation”). The Insider Participation is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company did not file a material change report more than 21 days before closing the Offering as the details of the abovementioned Insider Participation were not settled until shortly prior to closing, and the Company wished to close the Offering on an expedited basis.

About Jourdan Resources

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

For more information:

www.jourdaninc.com

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

Cautionary statements

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

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

NEITHER 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.

ROUYN-NORANDA, Quebec, July 08, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to announce that the Toronto Stock Exchange (“TSX”) has approved Globex’s normal course issuer bid (“NCIB”). Under the NCIB, Globex will be entitled to repurchase for cancellation up to 1,000,000 common shares, representing approximately 1.82% of Globex’s issued and outstanding shares as of June 30, 2021, over a twelve-month period starting on July 12, 2021 and ending on July 11, 2022. The purchases by Globex will be effected through the facilities of the TSX and on other alternative trading systems in Canada, and will be made at the market price of the shares at the time of the purchase. Globex had 55,089,817 common shares issued and outstanding as of June 30, 2021, of which 48,708,726 shares constitute the “public float”.

During the most recently completed six months, the average daily trading volume for Globex’s common shares on the TSX was 91,628 shares. Consequently, under the policies of the TSX, Globex will have the right to repurchase during any one trading day a maximum of 22,907 common shares, representing 25% of the average daily trading volume. In addition, Globex may make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Globex, in accordance with the policies of the TSX.

Globex intends to acquire the common shares because it believes that the repurchase of common shares at certain market prices is beneficial to Globex and its shareholders. Globex intends to make any purchases on an opportunistic basis, taking share price and other considerations into account.

Any purchases made pursuant to the NCIB will be made in accordance with the requirements of the TSX. Except for exempt offers, Globex will make no purchases of common shares other than open market purchases during the period of the NCIB.

Under its previous NCIB, which entered into effect on March 13, 2020 and which expired on March 12, 2021, Globex was authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex repurchased a total of 27,035 common shares at a volume weighted average purchase price of $0.6827 per share, through the facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were cancelled by Globex.

Under Globex’s NCIB which entered into effect on March 12, 2019 and which expired on March 11, 2020, Globex was authorized to purchase up to 1,000,000 shares. Globex repurchased a total of 583,500 common shares at a volume weighted average purchase price of $0.3310 per share, all of which shares were cancelled by Globex.

In connection with the NCIB, Globex has entered into an automatic share purchase plan with a Canadian securities dealer pursuant to which the securities dealer, acting as Globex’s agent, may acquire at its discretion shares on Globex’s behalf during “black-out” or “closed” periods under Globex’s stock trading policy, subject to certain parameters as to price and number of shares.

Forward Looking Statements

Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

55,089,817 shares issued and outstanding

VANCOUVER, British Columbia, July 08, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) is pleased to announce that it has entered into a royalty purchase agreement (the "Agreement") with Champion Iron Mines Limited ("Champion"), a wholly owned subsidiary of Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF), whereby the Corporation will sell to Champion certain iron ore royalties as well as the exploration property known as Lac Lamêlée.

The Agreement provides that, in consideration of a $1.3 million payment in cash at closing, plus certain future finite production payments payable once certain iron ore production thresholds have been reached with respect to iron ore production from the Fermont Properties subject to this agreement, Champion will acquire the Corporation’s ownership interest in the Lac Lamêlée property and a 1.5% Net Smelter Return royalty interest in the O’Keefe-Purdy, Harvey-Tuttle, Bellechasse, Oil Can, Fire Lake North Consolidated, Peppler Lake and Moiré Lake properties, which are currently held by the Corporation (the "Transaction").

The Agreement, combined with the current market conditions, provides immediate and additional future benefits to Fancamp as projects are developed to production by Champion.

In addition to the immediate cash payment that will be paid to Fancamp, this Agreement is expected to provide Fancamp and its shareholders greater long-term certainty with respect to future income related to the Corporation’s iron ore properties, as well as greater flexibility and opportunity for earlier development of these deposits.

The Agreement is subject to approval of the TSX Venture Exchange.

Independent Fairness Opinion

Watts, Griffis and McOuat was retained by the Corporation in connection with the Agreement. Watts, Griffis and McOuat has provided the Fancamp Board of Directors with its opinion that the Agreement is fair from a financial and technical point of view.

Related Party and MI 61-101 Disclosure

As Champion holds 12.64% of the outstanding shares of Fancamp, it is considered a non-arm’s length party pursuant to TSX Venture Exchange policies. The Transaction also constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Fancamp is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fair market value of the subject matter of, nor the fair market value of the consideration for, the contemplated Transaction, not exceeding 25% of Fancamp’s market capitalization. A resolution of the board of directors of Fancamp was passed on July 8, 2021 approving the Transaction, with one director voting against the Transaction as part of the steps taken as a concerned shareholder. No special committee was established in connection with the Transaction. Fancamp did not file a material change report more than 21 days prior to the completion of the Transaction, the window of opportunity for signing the Agreement and closing the Transaction being immediate it would have been detrimental for the parties involved to wait 21 days.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information includes, but is not limited to, information and statements relating to future benefits arising from the Agreement and the development and future production of the relevant mining properties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but 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.

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 news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210708005737/en/

Contacts

Rajesh Sharma, Chief Executive Officer
+1 (604) 434 8829
info@fancamp.ca

Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
info@fancamp.ca

Media Contact
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

Vancouver, British Columbia–(Newsfile Corp. – July 8, 2021) – TNR Gold Corp. (TSXV: TNR) ("TNR", "TNR Gold" or the "Company") is pleased to announce that McEwen Mining Inc. ("McEwen") has created McEwen Copper Inc. and is organizing a private placement (the "Offering") of up to US$80 million as announced its news release dated July 6, 2021.

McEwen Copper intends to pursue an initial public listing within 12 months from the closing of the Offering. Proceeds from the Offering will be used exclusively by McEwen Copper to advance the Los Azules Copper Project to a pre-feasibility study, to construct a new year-round access road to the project, carry out exploration drilling at Los Azules, and to complete environmental permitting and community relations.

Rob McEwen, McEwen's Chairman and Chief Owner, stated, "This is a significant and exciting moment for McEwen Mining because of the value it should release. Currently, the market appears to be giving us little value for our Los Azules copper deposit, despite its impressive size and robust economics at present copper prices. Unfortunately, the scale of the required project development expenditures would require McEwen Mining to issue a massive number of additional shares. This share dilution would not be acceptable. However, we believe that by putting our copper assets, Los Azules and Elder Creek, into a separately listed company exclusively focused on copper, we can create an attractive copper investment vehicle. It will allow us to raise the money necessary to fund progress towards the rapid development of one of the world's largest copper resources. We expect that McEwen Copper will compare very favorably to other single-asset copper developers. Within 12 months of closing this Offering we plan to take the company public. In the interim, we will be investigating ways to make a share distribution to you, MUX shareowners, of a portion of McEwen Mining's holdings of McEwen Copper in a tax-efficient way."

The Los Azules Copper Project is an advanced large-scale porphyry copper exploration project located in the prolific Andean Cordillera copper belt, 56 miles (90 km) north of Glencore's El Pachón project and near the border with Chile. In 2017, McEwen Mining completed a positive Preliminary Economic Assessment (PEA) on the project, as announced by TNR Gold on November 2, 2017.

"I am very pleased to see this very exciting and significant development for the Los Azules Copper Project and personal support by Rob McEwen of the newly created McEwen Copper," stated Kirill Klip, TNR's Executive Chair. "It's very encouraging to see the personal commitment from Rob McEwen to advance the rapid development of this giant copper, gold and silver deposit in an appropriate corporate structure which will allow financing and further development of the Los Azules Copper Project.

TNR Gold holds a 0.36% NSR royalty on the entire Los Azules project containing copper, gold and silver metals. TNR Gold does not have to contribute any capital for the development of the Los Azules Copper Project. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders."

ABOUT TNR GOLD CORP.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Over the past twenty-five years, TNR, through its lead generator business model, has been successful in generating high-quality exploration projects around the globe. With the Company's expertise, resources and industry network, it identified the potential of the Los Azules Copper Project in Argentina and now holds a 0.36% NSR Royalty on the entire project, which is being developed by McEwen Mining Inc.

In 2009, TNR founded International Lithium Corp. ("ILC"), a green energy metals company that was made public through the spin-out of TNR's energy metals portfolio in 2011. ILC holds interests in lithium projects in Argentina, Ireland and Canada.

TNR retains a 1.8% NSR Royalty on the Mariana Lithium Project in Argentina. ILC has a right to repurchase 1.0% of the NSR Royalty on the Mariana Lithium Project, of which 0.9% relates to the Company's NSR Royalty interest. The Company would receive $900,000 on the completion of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The Company's strategy with Shotgun Gold Project is to attract a joint venture partnership with one of the gold major mining companies. The Company is actively introducing the project to interested parties.

At its core, TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and Argentina (the Los Azules Copper and the Mariana Lithium projects) and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the Board of Directors,

Kirill Klip
Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact +1 604-229-8129.

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

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or conditions "may" or "could" occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR's corporate objectives, changes in share capital, market conditions for energy commodities, the results of McEwen Mining's and ILC's PEAs, and improvements in the financial performance of the Company. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the Company's interim and annual Management's Discussion and Analysis which are available under the Company's profile on www.sedar.com. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will be able to repay its loans or complete any further royalty acquisitions or sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties challenging in the future the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR and its royalty partners, McEwen Mining Inc. and International Lithium Corp. will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89724

VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY) (OTCQB: SHCMF), is pleased to announce that its common shares commenced trading today on the OTCQB^® Venture Market (the “OTCQB”) in the United States operated by the OTC Markets Group Inc. under the stock symbol “SHCMF”. The Company’s common shares will also continue to trade on the TSX Venture Exchange under the symbol “SMY”.

The OTCQB offers investors transparent trading in entrepreneurial and development stage U.S. and international companies that may not yet quality for OTCQX. To be eligible, companies must be current in their reporting and must undergo an annual verification and management certification process. Investors can find real-time quote and market information at: https://www.otcmarkets.com/stock/SHCMF/overview

“We are pleased to have the Company’s common shares posted for trading on the OTCQB to help introduce the Company to a broader audience. Trading on the OTCQB will assist in increasing Search’s visibility in the U.S. and offering U.S. prospective investors exposure to our Critical Rare Earth Element District in South-East Labrador,” stated Greg Andrews, President and CEO of the Company.

For further information, please contact:

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

About Search Minerals Inc.

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

Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Industry, Energy and Technology, Government of Newfoundland and Labrador, and from ACOA.

Search has been selected to participate in the Government of Canada Accelerated Growth Service (“AGS”) initiative, which supports high growth companies. AGS, as a ‘one-stop shop’ model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.

We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, the OTC Markets Group connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for investors.

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.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. 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, except as required by applicable securities legislation.

Vancouver, British Columbia–(Newsfile Corp. – July 7, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has started its 2021 diamond drill program at its Golden Promise Gold property in Central Newfoundland. The 100% owned Golden Promise Property is one of the company's eight properties, which cover an area of 25,700 hectares, located within the central Newfoundland gold belt.

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This is a resumption of Phase 2 diamond drilling at the gold bearing Jaclyn Zone, located within the northern region of the Golden Promise Property, which hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones. The current Phase 2 drilling will include up to 33 drill holes, totalling approximately 5,000 metres, at the gold bearing Jaclyn Zone with holes planned at the Jaclyn Main Zone and Jaclyn North Zone.

Drilling is currently underway, with drill hole GP21-149 being an in-fill hole in the west region of the Jaclyn Main Zone. The objective of this hole and subsequent holes is to further define the zone and provide information for an updated resource estimate. Most of these holes are planned within the central to west region of the zone, testing above 200 metres vertical depth, with two holes planned in the east part of the Jaclyn Main Zone to test the zone at 200 to 350 metres vertical depth.

Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts of 113.07 grams per tonne gold over 0.55 metres and 61.35 grams per tonne gold over 2.04 metres, and 15.8 grams per tonne gold over 2.70 metres, plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 grams per tonne gold over 25.25 metres. The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximate 300-metre long zone of gold-bearing quartz vein boulders. Three drill holes completed by the company during 2020 in this area intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 metres east of historic drilling.

The company collected gold bearing quartz boulder samples in this area during 2017, including samples returning 163, 208 and 332 grams per tonne and again in 2020 including samples returning 17.4, 26.7 and 157.6 grams per tonne gold. The company reported a NI 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of US$2.50 per tonne and processing costs of US$25.00 per tonne were used together with a gold price of US$1,300 per ounce. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone.

The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project. Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company's Golden Promise Property.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.

For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.

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CONTACT:
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89649

HEIDELBERG, Germany, July 06, 2021 (GLOBE NEWSWIRE) — DELPHI Unternehmensberatung Aktiengesellschaft (“DELPHI”) has acquired of 55,500 Common Shares of Rokmaster Resources Corp. (“Company”) (TSX-V: RKR) at C$ 0.50 per Common Share in the public market (“Transaction”) for a total consideration of C$27,750.

DELPHI now has ownership and control of 14,720,500 Common Shares representing approximately 14.0% of the issued and outstanding Common Shares of the Company (calculated on a non-diluted basis immediately after the Transaction) and assuming the exercise of 7,839,427 Warrants of the Company entitling DELPHI to purchase up to an additional 7,839,427 Common Shares, DELPHI has ownership and control of 22,559,927 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares of the Company (calculated on a partially diluted basis immediately after the Transaction).

Prior to the Transaction, DELPHI had ownership and control of 14,665,000 Common Shares, representing approximately 14.0% of the issued and outstanding Common Shares of the Company (calculated on a non-diluted basis immediately before the Transaction), and assuming the exercise of 7,908,802 Warrants of the Company entitling DELPHI to purchase up to an additional 7,908,802 Common Shares, DELPHI had ownership and control of 22,573,802 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares of the Company (calculated on a partially diluted basis immediately before the Transaction).

The acquisition was made solely for investment purposes. In accordance with applicable securities laws, DELPHI may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Company in the open market or otherwise, and DELPHI reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors.

DELPHI was incorporated in Germany. DELPHI’s principal business is to invest its own funds.

For further details relating to the acquisition please see the amended Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Company’s profile on the SEDAR website at www.sedar.com, or may be obtained from DELPHI Unternehmensberatung Aktiengesellschaft, Wilhelm K. T. Zours (CEO / Member of the Board), +49 6221 649240, info@deutsche-balaton.de.

Figure 1

Proposed drill program

Figure 2

Progress of the 2021 Summer Field Work at the Nelligan Project

MONTREAL, July 06, 2021 (GLOBE NEWSWIRE) — Vanstar Mining Resources Inc. (“Vanstar”, or the “Company”) (TSX.V – VSR) is pleased to confirm that drilling began on June 30^th on the Nelligan joint venture project (IAMGOLD 75%, Vanstar 25%), located 60 km southwest of Chibougamau, Quebec. The Company’s joint venture partner IAMGOLD Corporation (“IAMGOLD” TSX-IMG) is expected to drill approximately 9,500 m and will include both definition drilling in the main resource area as well as step-out drilling with a focus on the west extension of the known mineralization. This drilling will support the completion of a future updated resource estimate.

Figure 1: Proposed drill program
https://www.globenewswire.com/NewsRoom/AttachmentNg/82f3b473-cf37-4caa-93c7-037758df3014

JC St-Amour, President and CEO of Vanstar Mining commented, “We are excited to see the drilling program underway on Nelligan as exploration continues on the project. Nelligan is a growing asset with inferred resources of 3.2 million ounces of gold as of 2019. The results of this drill program will be included in an upcoming resource update that we anticipate will both expand and upgrade the existing resources. In addition, we are pleased to see that exploration is continuing on the broader property to identify additional targets for future drilling.”

Beyond the drilling area, mapping of underexplored areas is ongoing focusing on an area identified from IP and preliminary till survey results. Fifteen new outcrops have been identified to date. Elsewhere the review of the 2020 and 2021 till sampling results received is ongoing. Two other gold in-till anomalies outside the Nelligan Resources area are developing, with assay results from heavy mineral concentrates and fine fractions of the till samples still pending.

The mapping program also includes mapping of areas stripped in October 2020 on the joint venture property. Channel samples have been collected from the 3 unsampled areas including one located to the north of the resource area. The northern stripping area has been completed in May with mapping and channel sampling. The stripping exposed a moderately to strongly sheared sediment, hosting up to 30% of transposed smoky veinlets and pyrite in trace but locally up to 5%. Twenty-two channel samples have been collected. Results are pending. Exploration targeting will be completed once all results will become available and interpreted.

Figure 2: Progress of the 2021 Summer Field Work at the Nelligan Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/2fbeba1c-4ebb-412b-8e23-6a599e70d094

About the Nelligan Project

The Nelligan Gold Project is held under an earn-in option to joint venture between IAMGOLD (75%) and Vanstar (25%). IAMGOLD has an option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project.

Mr. Gilles Laverdière, consultant geologist and qualified person under NI 43-101 has read and approved this press release.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the “Discovery of the Year” award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar also owns 100% of the Felix property under development in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property) and 100% of Amanda, a 7,679 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters.

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

SOURCE :
JC St-Amour
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com

VANCOUVER, BC / ACCESSWIRE / July 6, 2021 / Great Atlantic Resource Corp. (TSXV:GR)(FRA:PH01) (the "Company" or "Great Atlantic") is pleased to announce it commenced diamond drilling at its Golden Promise Gold Property, located in the central Newfoundland gold belt.

This is a resumption of Phase 2 diamond drilling at the gold bearing Jaclyn Zone, specifically at the Jaclyn Main Zone and Jaclyn North Zone. The first drill hole of the 2021 program in being drilled at the Jaclyn Main Zone.

The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ) with total planned drilling of approximately 5,000 meters. Drilling is currently underway on dill hole GP21-149, an in-fill hole in the west region of the JMZ. The objective of this hole and subsequent planned drill holes at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.

Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).

The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.

The Phase 2 drilling at the JNZ will further test the area east of historic drill holes including the area of an approximately 300 meters long zone of gold-bearing quartz vein boulders. Three drill holes completed by the Company during late 2020 Phase 2 drilling intersected gold bearing quartz veins and extended the JNZ quartz vein system approximately 260 meters east of historic drilling. The Company collected gold bearing quartz boulder samples in this area during 2017 (including samples returning 163, 208 and 332 grams / tonne (g/t) gold) and 2020 (including samples returning 17.4, 26.7 and 157.6 g/t gold).

The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors

"Christopher R Anderson"

Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director

Investor Relations:

Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line 604-488-3900

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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

SOURCE: Great Atlantic Resource Corp.

View source version on accesswire.com:
https://www.accesswire.com/654317/Great-Atlantic-Resources-Commences-Diamond-Drill-Program–Golden-Promise–Central-Newfoundland

July 6 (Reuters) – Australia's Jervois Mining Ltd said on Tuesday its board had approved the final construction and development of its cobalt operations in the U.S. state of Idaho, with first production expected in mid-2022.

Cobalt is all the rage of late due to its use as a key ingredient in electric vehicles (EVs) and demand for the metal has seen a sharp uptick with rising EV sales and use in batteries.

The approval follows a $100 million bond issue by Jervois on Monday to fund the Idaho project and bring it to production.

Final construction of the project, which the company acquired in 2019, is scheduled to deliver its first ore to an operational mill in July 2022.

The company said it continues to engage with the U.S. government over the "geopolitical and economic importance" of the Idaho facility and further funding support. (Reporting by Savyata Mishra in Bengaluru; Editing by Subhranshu Sahu)

BRISBANE, Australia, July 04, 2021 (GLOBE NEWSWIRE) — Galaxy Resources Limited (ASX: GXY) (Galaxy) and Orocobre Limited (ASX:ORE, TSX:ORL) (Orocobre) are pleased to provide an update on the proposed merger pursuant to which Orocobre will acquire all of the shares in Galaxy (Galaxy Shares) by way of a scheme of arrangement (Scheme).

Court approval

The Supreme Court of Western Australia (Court) has today made orders:

• that Galaxy convene a meeting of shareholders (Galaxy Shareholders) to consider and vote on the Scheme (Scheme Meeting); and

• approving the dispatch of an explanatory statement providing information about the Scheme, together with the Notice of Scheme Meeting (Scheme Booklet) to Galaxy Shareholders.

Scheme Booklet

The Scheme Booklet will be released to ASX and sent to Galaxy Shareholders following registration with the Australian Securities and Investments Commission (ASIC). It will also be available on Galaxy's website at www.gxy.com.

The Scheme Booklet will be dispatched to Galaxy Shareholders by Wednesday, 7 July 2021. Galaxy Shareholders who have elected to receive electronic communications from Galaxy will receive an email containing instructions about how to view or download a copy of the Scheme Booklet, as well as instructions on how to lodge their proxies and opt-in notices. Galaxy Shareholders who have not elected to receive communications electronically will receive a letter (sent by post), together with their personalised proxy form and opt-in notice, containing instructions about how to view or download a copy of the Scheme Booklet (or request a hard copy of it).

Galaxy Shareholders should carefully read the Scheme Booklet in its entirety, including the materials accompanying it, before deciding whether to vote in favour of the Scheme. If after reading the Scheme Booklet you have any questions about the Scheme or the Scheme Booklet, please contact the Galaxy Shareholder Information Line on 1300 034 153 (within Australia) or +61 3 9415 4875 (outside Australia) between 8.30 am and 5.30 pm (AEST), Monday to Friday (excluding public holidays).

Directors' recommendation and Independent Expert's Report

The Scheme Booklet will include a copy of the independent expert's report prepared by Deloitte Corporate Finance Pty Ltd (Independent Expert), which concludes that the Scheme is fair and reasonable, and in the best interests of Galaxy Shareholders, in the absence of a superior proposal for Galaxy.

The Scheme continues to be unanimously recommended by each director of Galaxy (Galaxy Director), subject to no superior proposal emerging for Galaxy and the Independent Expert continuing to conclude that the Scheme is in the best interests of Galaxy Shareholders. Each Galaxy Director intends to vote, or procure the voting of, all Galaxy Shares held or controlled by them in favour of the Scheme, subject to those same qualifications.

Scheme Meeting

The Scheme Meeting, at which Galaxy Shareholders will vote on the proposed Scheme, will be held at 10.00 am (AWST) on Friday, 6 August 2021, at the Karingal Room, the Melbourne Hotel, 33 Milligan Street, Perth WA 6000.

Galaxy Shareholders can also attend the Scheme Meeting online via a live webcast. Details of how to access the live webcast and participate in the Scheme Meeting online will be contained in the notice of meeting included in the Scheme Booklet, and the Lumi Online Meeting Guide which is included in the notice of meeting and is also available at www.edocumentview.com.au/GXYlumiguide.

All registered Galaxy Shareholders as at 5.00 pm (AWST) on Wednesday, 4 August 2021 will be eligible to vote at the Scheme Meeting.

Scheme Timetable

The key dates expected for the Scheme are set out below.

Note: All times and dates in the above timetable are references to the time and date in Perth, Western Australia (AWST). All dates following the date of the Scheme Meeting are indicative only and, among other things, are subject to all necessary approvals from the Supreme Court of Western Australia and each other condition precedent to the Scheme being satisfied or waived. Galaxy reserves the right to vary the times and dates set out above. Any changes to the above timetable will be announced on ASX and notified on Galaxy's website at www.gxy.com. Galaxy will continue to update Galaxy Shareholders as to any material developments in relation to the Scheme as the timetable progresses.

IMPORTANT NOTICES

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

This announcement has been prepared in relation to the proposed merger between Galaxy and Orocobre by way of scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Scheme). Under the Scheme, Orocobre will acquire 100% of the fully paid ordinary shares in Galaxy in exchange for the issue of new fully paid ordinary shares in Orocobre. The Scheme is subject to the terms and conditions described in the merger implementation deed entered into between Galaxy and Orocobre as announced on 19 April 2021 (Merger Implementation Deed). A copy of the Merger Implementation Deed is available on the ASX website (at www.asx.com.au).

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

Forward Looking Statements

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

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

Not for release or distribution in the United States

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

TSX matters

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

BRISBANE, Australia, July 05, 2021 (GLOBE NEWSWIRE) — Galaxy Resources Limited (ASX: GXY) (Galaxy) and Orocobre Limited (ASX:ORE, TSX:ORL) (Orocobre) refer to the announcement made on 2 July 2021 in relation to:

• its proposed merger with Orocobre pursuant to which Orocobre will acquire all of the shares in Galaxy (Galaxy Shares) by way of a scheme of arrangement (Scheme); and

• the orders made by the Supreme Court of Western Australia convening a meeting of shareholders of Galaxy (Galaxy Shareholders) to consider and vote on the Scheme (Scheme Meeting) and approving the dispatch of an explanatory statement providing information about the Scheme, together with the Notice of Scheme Meeting (Scheme Booklet) to Galaxy Shareholders.

Scheme Booklet

Galaxy is pleased to confirm that the Australian Securities and Investments Commission (ASIC) has today registered the Scheme Booklet. A copy of the Scheme Booklet is attached to this announcement and will also be made available on Galaxy's website at www.gxy.com.

The Scheme Booklet will be dispatched to Galaxy Shareholders by Wednesday, 7 July 2021 in the manner described in Galaxy's announcement made on 2 July 2021.

Galaxy Shareholders should carefully read the Scheme Booklet in its entirety, including the material accompanying it, before deciding whether to vote in favour of the Scheme. If after reading the Scheme Booklet you have any further questions about the Scheme or the Scheme Booklet, please contact the Galaxy Shareholder Information Line on 1300 034 153 (within Australia) or +61 3 9415 4875 (outside Australia), between 8.30 am and 5.30 pm (AEST), Monday to Friday (excluding public holidays).

Directors' Recommendation and Independent Expert's Report

The Scheme Booklet includes a copy of the independent expert’s report prepared by Deloitte Corporate Finance Pty Limited (Independent Expert), which concludes that the Scheme is fair and reasonable, and in the best interests of Galaxy Shareholders, in the absence of a superior proposal for Galaxy.

The Scheme continues to be unanimously recommended by each director of Galaxy (Galaxy Director), subject to no superior proposal emerging for Galaxy and the Independent Expert continuing to conclude that the Scheme is in the best interests of Galaxy Shareholders. Each Galaxy Director intends to vote, or procure the voting of, all Galaxy Shares held or controlled by them in favour of the Scheme, subject to those same qualifications.

Scheme Meeting

The Scheme Meeting, at which Galaxy Shareholders will vote on the proposed Scheme, will be held at 10.00 am (AWST) on Friday, 6 August 2021, at the Karingal Room, the Melbourne Hotel, 33 Milligan Street, Perth WA 6000.

Galaxy Shareholders can also attend the Scheme Meeting online via a live webcast. Details of how to access the live webcast and participate in the Scheme Meeting online are contained in the notice of meeting included in the Scheme Booklet, and the Lumi Online Meeting Guide which is included in the notice of meeting and is also available at www.edocumentview.com.au/GXYlumiguide.

All Galaxy Shareholders registered as at 5.00 pm (AWST) on Wednesday, 4 August 2021 will be eligible to vote at the Scheme Meeting.

This release was authorised by Mr Simon Hay, Chief Executive Officer of Galaxy Resources Limited and Mr Rick Anthon, Joint Company Secretary of Orocobre Limited.

For more information

IMPORTANT NOTICES

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

This announcement has been prepared in relation to the proposed merger between Galaxy and Orocobre by way of scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Scheme). Under the Scheme, Orocobre will acquire 100% of the fully paid ordinary shares in Galaxy in exchange for the issue of new fully paid ordinary shares in Orocobre. The Scheme is subject to the terms and conditions described in the merger implementation deed entered into between Galaxy and Orocobre as announced on 19 April 2021 (Merger Implementation Deed). A copy of the Merger Implementation Deed is available on the ASX website (at www.asx.com.au).

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

Forward Looking Statements

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

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

Not for release or distribution in the United States

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

TSX matters

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

VANCOUVER, BC, July 5, 2021 /CNW/ – Trading resumes in:

Company: Focus Graphite Inc.

TSX-Venture Symbol: FMS

All Issues: Yes

Resumption (ET): 10:15

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

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

View original content: http://www.newswire.ca/en/releases/archive/July2021/05/c2899.html

KINGSTON, ON / ACCESSWIRE / July 5, 2021 / Focus Graphite Inc. (TSXV:FMS) (the "Company" or "Focus Graphite") announced today it has completed due diligence with Alumina Partners (Ontario) Ltd. ("Alumina"), an affiliate of New York-based private equity firm Alumina Partners, LLC, and closed a first tranche of private placement investment pursuant thereto.

Alumina is prepared to invest up to CAD$12 million in the company over a 24-month period for working capital and general corporate purposes, including to advance both of the Company's flake graphite projects in Quebec. The Company may, subject to certain conditions, elect to have Alumina invest in private placements of up to $500,000. Each tranche shall be a private placement of units, to be comprised of one common share and one-half of a common share purchase warrant, which will be exercisable for 36 months. The units will be issued at a discount of 15% to 25% from the closing market price at the time of each tranche, and the warrants will be issued at a 25% premium over the closing market price at the time of each tranche.

"Alumina Partners has a well-earned international reputation for partnering with companies that are committed to responsibly managed growth, and we welcome their participation as we continue to advance our flake graphite projects at Focus," said Marc Roy, President and CEO of Focus Graphite. "These investments by Alumina will provide us with capital to complete the permitting process at Lac Knife and complete a mineral resource estimate study at Lac Tétépisca."

"We are excited to support Focus Graphite as they progress work at their Lac Knife and Lac Tétépisca projects," added Adi Nahmani, Managing Member of Alumina Partners. "We have every confidence in management's ability to execute against plan and hit the ground running as the resource sector recovers from COVID-related impacts."

In the first tranche that closed on July 2^nd, 2021, the Company completed a private placement for gross proceeds of $200,000 from Alumina, with Alumina receiving 2,962,963 units of the Company consisting of a common share priced at $0.0675 per share and warrants to purchase 1,481,482 common shares, exercisable at $0.1125 per share for 36 months.

There are no standby charges or fees associated with these investments. Each tranche of units issued will be subject to the acceptance of the TSX Venture Exchange, and the securities issued will be subject to the customary 4-month hold period.

About Focus Graphite

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

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

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

Forward Looking Information

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

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

Focus Graphite Inc.
Judith Mazvihwa-MacLean
CFO
(613) 581-4040
jmazvihwa@focusgraphite.com

SOURCE: Focus Graphite Inc.

View source version on accesswire.com:
https://www.accesswire.com/654206/Focus-Graphite-Inc-Enters-into-12-Million-Equity-Facility-with-Alumina-Partners

Vancouver, British Columbia–(Newsfile Corp. – July 5, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has signed a contract for its 2021 diamond drill program at its Golden Promise Gold property in Central Newfoundland. The 100% owned Golden Promise Property is one of the company's eight properties, which cover an area of 25,700 hectares, located within the central Newfoundland gold belt. The company has engaged Rally Drilling Services for the phase 2 diamond drill program.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Great Atlantic" in the search box.

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The company plans to begin the 33 drill holes at the Jaclyn Zone to be followed by up to 12 drill holes at the Otter Brook showing.

The Jaclyn Zone, located within the northern region of the Golden Promise Property, hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones. The drilling at the Jaclyn Zone includes 15 drill holes at the Jaclyn Main Zone and 18 drill holes at the Jaclyn North Zone, totalling approximately 5,000 metres.

This includes in-fill drill holes within different part of the Jaclyn Main Zone, the objective to provide further definition of the zone and provide information for an updated resource calculation. Most of these holes are planned within the central to west region of the zone, testing above 200 metres vertical depth. Two holes are planned in the east part of the Jaclyn Main Zone to test the zone at 200 to 350 metres vertical depth.

Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts of 113.07 grams per tonne gold over 0.55 metres and 61.35 grams per tonne gold over 2.04 metres, and 15.8 grams per tonne gold over 2.70 metres, plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 grams per tonne gold over 25.25 metres.

The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximate 300-metre long zone of gold-bearing quartz vein boulders. Three drill holes completed by the company during 2020 in this area intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 metres east of historic drilling.

The company collected gold bearing quartz boulder samples in this area during 2017, including samples returning 163, 208 and 332 grams per tonne and again in 2020 including samples returning 17.4, 26.7 and 157.6 grams per tonne gold.

The company reported a NI 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,000 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of US$2.50 per tonne and processing costs of US$25.00 per tonne were used together with a gold price of US$1,300 per ounce. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone.

Great Atlantic is also planning diamond drilling at the Otter Brook gold showing, located in the east region of the Golden Promise Property, where the company confirmed gold mineralization during 2020.

Eight of 11 rock samples, both float and outcrop, collected at this showing during 2020 exceeded 0.7 g/t gold including an outcrop grab sample returning 5.7 g/t gold. Great Atlantic has applied for a diamond drilling permit for up to 12 drill holes at this showing with holes planned under gold bearing outcrop and along the projected strike of the zone.

The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project.

Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company's Golden Promise Property.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.

For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89367

VANCOUVER, BC, July 5, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Focus Graphite Inc.

TSX-Venture Symbol: FMS

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 9:12 AM

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

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

View original content: http://www.newswire.ca/en/releases/archive/July2021/05/c0889.html

Investors focused on the Basic Materials space have likely heard of Impala Platinum Holdings (IMPUY), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Impala Platinum Holdings is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. IMPUY is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for IMPUY's full-year earnings has moved 6.32% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, IMPUY has gained about 22.82% so far this year. At the same time, Basic Materials stocks have gained an average of 19.54%. As we can see, Impala Platinum Holdings is performing better than its sector in the calendar year.

Looking more specifically, IMPUY belongs to the Mining – Miscellaneous industry, a group that includes 47 individual stocks and currently sits at #106 in the Zacks Industry Rank. Stocks in this group have gained about 31.07% so far this year, so IMPUY is slightly underperforming its industry this group in terms of year-to-date returns.

IMPUY will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.

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VANCOUVER, BC / ACCESSWIRE / July 2, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR)(FSE:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has signed a contract with Rally Drilling Services for 2021 diamond drilling at its Golden Promise Gold Property, located in the central Newfoundland gold belt. Phase 2 diamond drilling is scheduled to resume immediately at the gold bearing Jaclyn Zone, specifically at the Jaclyn Main Zone and Jaclyn North Zone.

The Company reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).

The Company is planning to resume Phase 2 drilling on July 1 with up to 33 drill holes at the gold bearing Jaclyn Zone. This includes up to 15 drill holes at the Jaclyn Main Zone and up to 18 drill holes at the Jaclyn North Zone for approximately 5,000 meters. This includes in-fill drill holes within different part of the Jaclyn Main Zone, the objective to provide further definition of the zone and provide information for an updated resource estimate. Most of these holes are planned within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the Jaclyn Main Zone to test the zone at 200-350 meters vertical depth. Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.

The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximately 300 meters long zone of gold-bearing quartz vein boulders. Three drill holes completed by the Company during 2020 Phase 2 drilling intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 meters east of historic drilling. The Company collected gold bearing quartz boulder samples in this area during 2017 (including samples returning 163, 208 and 332 grams / tonne (g/t) gold) and 2020 (including samples returning 17.4, 26.7 and 157.6 g/t gold).

Great Atlantic is also planning diamond drilling at the Otter Brook gold showing, located in the east region of the Golden Promise Property. The Company confirmed gold mineralization at the Otter Brook showing during 2020. Eight of 11 rock samples (float and outcrop) collected at this showing during 2020 exceeded 0.7 g/t gold including an outcrop grab sample returning 5.7 g/t gold. Great Atlantic has applied for a diamond drilling permit for up to 12 drill holes at this showing with holes planned under gold bearing outcrop and along the projected strike of the zone.

The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on the Golden Promise Property.

Great Atlantic reported a National Instrument 43-101 mineral resource estimate for the Jaclyn Main Zone (JMZ) in late 2018 (Company News Release of December 6, 2018; and Sedar-filed National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.). The reported inferred mineral resource estimate for the JMZ is as follows:

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.
Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.
Mineral resource tonnage and grades are reported as undiluted.
Contained Au ounces are in-situ and do not include recovery losses.

As reported in the National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo., the JMZ was modelled as a single quartz vein that strikes east-west and dips steeply to the south. Modelled vein thickness was based on true thickness derived from quartz vein intercepts. The estimate is based on 220 assays that were composited to 135 one-meter long composites. A bulk density of 2.7 g/cm³ was used. Blocks in the model measured 15 meters east-west, 1-meter north-south and 10 meters vertically. The block model was not rotated. Grades were interpolated using inverse-distance squared (ID²) weighting and a search ellipse that measured 100 meters along strike, two meters across strike and 50 meters vertically. Grades were interpolated based on a minimum of two and a maximum of 10 composites with a maximum of one composite per hole so the grade of each block is based on at least two drill holes thereby demonstrating continuity of mineralization. For the capped mineral resource estimate, all assays that exceed 65 g/t gold were capped at 65 g/t gold. All resources were classified as Inferred because of the relatively wide spacing of drill holes through most of the zone.

Because part of the vein is near surface the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of US$2.50/tonne and processing costs of US$25.00/tonne were used together with a gold price of US$1,300/ounce. A conceptual pit slope of 45° was assumed with no allowance for mining loss or dilution. Based on the combined hypothetical mining and processing costs and the assumed price of gold, a pit-constrained cutoff grade of 0.6 g/t was adopted. For the underground portion of the resource a cutoff of 1.5 g/t was assumed. The cutoff grade for the total resource is the weighted average of the pit-constrained and underground cutoff grades.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director

Investor Relations:
Andrew Job 1-416-628-1560 IR @ GreatAtlanticResources.com
Office Line 604-488-3900

About Great Atlantic Resources Corp.
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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.

Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resource Corp

View source version on accesswire.com:
https://www.accesswire.com/654002/Great-Atlantic-Signs-Contract-for-2021-Diamond-Drilling-at-Its-100-Owned-Golden-Promise-Gold-Property-Central-Newfoundland

Halifax, Nova Scotia–(Newsfile Corp. – June 30, 2021) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is very pleased to announce that the Company's wholly owned subsidiary, Innovation Metals Corp. ("IMC" or the "company"), has successfully completed initial extraction-rate testing of its proprietary RapidSX™ separation technology and to provide an update on the company's RapidSX commercialization demonstration program and related timelines. Being a key technical milestone in the commercialization of RapidSX, the extraction-rate testing quantitatively confirmed the ability of the technology to rapidly extract rare-earth elements ("REEs") from an initial REE feedstock using a standard extractant, at rates at least ten times faster than conventional solvent extraction ("SX") technology.

Highlights

1. Successful initial extraction-rate testing demonstrated and re-confirmed that the RapidSX technology is highly effective at extracting REEs from solutions, within a range of flow rates;

2. RapidSX column design for commercial deployment is now in the finalization/optimization stage; and

3. IMC continues to advance the commercialization of the RapidSX technology via proprietary commercial hardware and software capabilities. This innovative, dual-channel approach will underpin the successful commercialization of RapidSX for REE separation, while also advancing non-REE RapidSX applications.

"The IMC team continues to make great strides in the RapidSX technology commercial deployment effort," commented Pat Ryan, P.Eng., Ucore Chairman and CEO. "This latest round of extraction-rate testing foreshadows the expected results as we embark on an Independent Evaluation of the RapidSX technology at the Kingston facility which will take place over the summer months of 2021. This Independent Evaluation will be conducted by the scientific team at Kingston Process Metallurgy ("KPM") under the supervision and direction of an independent third party who will report on the findings."

Image 1:
KPM technicians operating the RapidSX™ test platform during REE extraction-rate testing. The test was conducted on June 28, 2021, at IMC's RapidSX Commercialization Development Facility in Kingston, Ontario.
Photo: Innovation Metals Corp.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1119/89131_53684637e4a459f7_001full.jpg

RapidSX Extraction-Rate Testing

The rate of extraction is an important contributor to the final design of the individual columns that will be used in RapidSX-based SX circuits, influencing their overall size when deploying the technology for particular applications. The recent testing looked at the effects of flow rate and residence time on the rate of extraction from a mixed REE solution.

The initial quantitative test results using a standard, commercial extractant for REEs indicate that the rate of mass transfer during operation of the RapidSX columns is at least one order-of-magnitude higher than that which occurs with the use of mixer-settler units for conventional SX extraction of REEs from solutions, i.e., at least ten times faster.

IMC Chairman, CEO and Co-founder, Dr. Gareth Hatch, stated, "The results of the initial extraction-rate testing for the current RapidSX columns are highly encouraging. Additional extraction-rate testing to validate and optimize platform parameters will be undertaken in the coming weeks, as IMC finalizes the design of the physical RapidSX hardware for deployment in IMC's forthcoming RapidSX Demonstration Plant. Additional extraction-rate testing will also be utilized to look at the influence of alternative extractants, currently being evaluated via equilibrium isotherm work."

Finalization of RapidSX Column Design

In addition to the initial extraction-rate testing, IMC has been working to finalize the individual physical RapidSX column assembly design so that it will be suitable for commercial deployment. Computational fluid dynamics ("CFD") software has been used to model fluid flows to subsequently fine-tune the design of certain components that will be utilized in the physical column assemblies.

Final column designs for the RapidSX Demonstration Plant ("Demo Plant") are in the process of completion, and will be tested in a demo-scale module ahead of construction of the Demo Plant, to empirically confirm effectiveness, at IMC's RapidSX Commercialization Development Facility ("CDF") in Kingston, Ontario, Canada.

Commercialization of the RapidSX Technology

IMC's ongoing commercialization work for the processing of REE feedstocks using RapidSX has now converged to simultaneous commercial hardware and software development. Together, these two initiatives will underpin the deployment of the RapidSX technology at commercial scale.

RapidSX Commercial Hardware Platform Development

The hardware platform development focuses on all of the physical hardware that is required for utilization of the RapidSX technology. This includes the proprietary RapidSX columns, as well as the supporting instrumentation, controls, sensors, piping, pumps, and all other physical equipment required.

Wherever possible, IMC will utilize the same hardware components in the forthcoming Demo Plant, as those that will be deployed at commercial scale. This will allow the Company to operate a Demo Plant at the CDF – scheduled for construction and commissioning later this year – that will very much look and feel like a full-scale, commercial facility.

Image 2:
Left-side elevation of a commercial-scale RapidSX™️ multi-stage circuit for REE separation, under development for the forthcoming RapidSX Demonstration Plant.
Source: Innovation Metals Corp.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1119/89131_53684637e4a459f7_002full.jpg

RapidSX Commercial Software Tool Development

In parallel to the RapidSX hardware development work, IMC's technical team is focused on the development of a proprietary RapidSX software tool to instruct and control the hardware platform during operation. At the heart of this software tool will be the mathematical model previously disclosed by IMC, which will utilize the empirical REE extraction and separation data generated by IMC over the past several months, from a number of REE feedstocks. Once complete, the integrated software tool will work in concert with the hardware platform to provide near real-time adjustments to variations in feed and flow parameters, as appropriate. The same tool will also be responsible for determining the optimal metallurgical flowsheet for specific mixed REE concentrate feedstocks (input) and the specific REE oxides to be produced (output). This dictates the configuration and staging of the RapidSX hardware and controls the hardware platform. The software tool will allow IMC to analyze numerous flowsheet scenarios to achieve cost optimization, without the need for onerous and time-consuming "wet chemistry" development work.

For more information on IMC's RapidSX commercialization development, please refer to the following IMC video: 'Dr. Hatch discusses the commercialization-development program for the RapidSX™ separation technology'.

RapidSX Commercialization Timeline

As announced on January 29, 2021, and May 4, 2021, the commissioning of IMC's RapidSX Demo Plant is scheduled to commence in late Q3 / early Q4 2021, with a comprehensive, independent techno-economic study and the design of a commercial-scale REE separation facility, both planned for completion by Q1 2022. With the anticipated ability to demonstrate the effectiveness of the Demo Plant on currently available REE feedstocks, IMC expects the RapidSX technology to be ready for commercial adoption and implementation in less than 12 months (in Q2/Q3 2022), via revenue-producing licensing agreements with strategically selected IMC customers.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare and critical metals resources, extraction, beneficiation and separation technologies with potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska. Ucore's vision and plan is to transition to become a leading advanced technology company that provides metal separation products and services to the mining and mineral extraction industry. Innovation Metals Corp. is a wholly owned subsidiary of Ucore.

Through strategic partnerships, this vision includes disrupting the People's Republic of China's dominance of the US REE supply chain through the development of a heavy rare earth processing facility – the Alaska Strategic Metals Complex ("Alaska SMC") in Southeast Alaska and the long-term development of Ucore's heavy rare earth element mineral resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF".

For further information, please visit www.ucore.com.

About Innovation Metals Corp.

IMC has developed the proprietary RapidSX™ process, for the low-cost separation and purification of rare-earth elements, Ni, Co, Li and other technology metals, via an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals, to help enable mining and metal-recycling companies to compete in today's global marketplace.

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

About the RapidSX™ Technology

IMC developed the RapidSX separation technology with the assistance of US$1.8 million in funding from the United States Department of Defense ("US DoD"), resulting in the production of commercial-grade, separated REOs at the pilot scale. RapidSX combines the time-proven chemistry of conventional SX with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international REE industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a "new" technology, but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

Forward-Looking Statements

The "About Ucore" section of this press release includes certain statements that may be considered "forward-looking statements" regarding, among other things, the development of the Alaska SMC, the use of Innovation Metals Corp.'s RapidSX technology, and the long-term development of Ucore's heavy rare earth element mineral resource property located at Bokan Mountain in Alaska, USA. All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results and actual results or developments may differ materially from those in forward-looking statements. In regard to the disclosure in the "About Ucore" section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp., as suppliers for Ucore's expected future Alaska SMC. Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product mineral materials and metals and the then prevailing market prices based upon assumed customer off-take agreements. Ucore has also assumed that sufficient external funding will be secured to develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: Innovation Metals Corp. failing to protect its intellectual property rights in RapidSX; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or Innovation Metals Corp. to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

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

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
+1 902 482 5214
mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89131

BEDFORD, NS / ACCESSWIRE / June 30, 2021 / Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") (TSXV:SSE)(FSE:S6Q1) is pleased to announce the signing of a contract with Strategic Consultants IGIS, ("SCIGIS") based in Chihuahua, Mexico to conduct a comprehensive interpretation of regional ASTER (Advanced Spaceborne Thermal Emission and Reflectance Radiometer) and LANDSAT 8 OLI (Operational Land Imager) data over three exploration properties comprising El Mezquite, Jackie and Diamante.

The 180-ha El Mezquite and 1,057-ha Diamante Concessions are drill-ready precious metal (Au-Ag) projects located 10 km and 5 km, respectively, 165 km southeast of Hermosillo, Sonora, Mexico. Diamante 1 is situated adjacent to the El Mezquite project. Diamante 2, 700 metres south of Diamante 1, is located 1.6 kilometres northwest of the 1,130-ha Jackie project. The Jackie property is located less than two kilometres south of our El Mezquite and Diamante properties and adjacent to the west of Minera Alamos' Santana project (Figures 1 and 2).

Figure 1. El Mezquite, Diamante 1 and 2, and Jackie Concession Location Map. Nicho mine development by Minera Alamos locates 12 km S.E. of Diamante (Image taken from Google Earth).

"We continue to build on the Sonoran project geotechnical data using advanced processing techniques for re-interpretation of available ASTER and LANDSAT imagery. A review of the TLALI algorithm processing results from many projects illustrated its success in anomaly identification and clarity of response," said Mr. Davison, Silver Spruce VP Exploration and Director. "We are actively exploring the El Mezquite with our maiden drill program, and another team is continuing the Phase 2 geological mapping on Jackie, and look forward to compiling the hyperspectral data from rock samples and drill chips with the broad strokes of the ASTER/LANDSAT alteration fields for enhanced target definition."

Figure 2. Broad areas of argillic and oxide alteration, including supergene replacement, (sourced from SGM) mainly on the Diamante and El Mezquite properties.

This study will comprise a spectral reconnaissance of the Properties (Diamante 1, Diamante 2, El Mezquite, and Jackie) to understand the structural and lithological controls in a regional context and provide additional detail on the mineral by mineral distribution over each of the Properties. SCIGIS will research an area of 6,500 hectares. The ASTER imagery will be processed using the proprietary TLALI algorithm, which has shown significant success in optimizing and recognizing anomalies in a wide range of geological environments from several international projects.

A second run will be carried out using LANDSAT 8 OLI imagery and focus on clay minerals, ferrous iron, and iron oxide species. The reporting will include a complete set of shapefiles, index raster and RGB images, index reclassifications, and various digital elevation rasters with shading and lineament extraction in ArcGIS format. Completion of the study will require 1-2 weeks.

Project Geology – Spectral Response
Each Property exhibits alteration features that manifest with excellent hyperspectral signatures and responses for oxide and silicate minerals. Public data available through the GEOINFOMEX web portal of the Servicio Geológico Mexicano (SGM) identified areas with potential alteration though were defined by coarse pattern recognition of grouped minerals and overall styles.

Figure 2 illustrates examples of the alteration for the Diamante and El Mezquite projects. It may be noteworthy that the Jackie property showed no responses though the evidence from the current ground exploration successfully identified significant clay and oxide minerals proximal to the Au-Ag anomaly (see Press Release – June 10, 2021). A historical study of ASTER imagery was performed principally on the Diamante and El Mezquite properties and identified hyperspectral responses with one or more minerals. However, during interpretation, the data pixels were resolved using the principal mineral or group distribution.

Of note, the hyperspectral response may be limited by the vegetative cover, resolution of the older satellite data and less advanced algorithms for the mineral refinement.

El Mezquite – The El Mezquite Phase 1 2,000 metre reverse-circulation ("RC") program is using eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag. The collar locations are defined by several northeast-trending veins, structural lineaments, and oxide/sulfide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages, and coincident 3D IP chargeability anomalies (see Press Release – June 3, 2021).

A white mica-dominant assemblage with lesser jarosite, kaolinite, and iron oxides with distal zones with chlorite and intermittent areas of aluminous minerals locally linked to potential structural lineaments, identified by Hyperspectral data

Jackie – The preliminary prospecting program (see Press Release – June 10, 2021) identified a distinctive andesite ridge with intense oxidation, silicification, argillic alteration, and a notable vegetation-free zone. Geochemical analyses identified a strong Au-Ag anomaly associated with elevated Hg, Pb, Zn, Cd, As, Sb, and Cu with spatial trends similar to the multi-element data recorded for the nearby El Mezquite property. The extensive oxide and silicate alteration, verified by preliminary aiSIRIS results of hyperspectral analysis, represented bleached and oxidized argillic zones with aluminous clay minerals and muscovite and commonly low metal values. Samples collected from the northern area of the ridge displayed intense replacement by zeolite, kaolinite, alunite, montmorillonite, opaline silica, and muscovite though they contained the bulk of the anomalous gold and silver values.

Diamante – The Diamante 1 and 2 concessions include more than ten known occurrences at La Prieta-El Aguaje, El Chon-El Pillado, La Olla, La Cruz and El Caso, Mezquite Raizudo, El Puerto, El Cumbro, Calton and the Southern Anomaly. The target location maps and sampling highlights were provided previously (see Press Releases – April 12 and April 26, 2021). Precious metal mineralization occurs as disseminated, stockwork and vein styles accompanied by silicification (with quartz veining), and phyllic, argillic, advanced argillic (quartz-alunite-pyrite) and propylitic (chlorite) zones, with near-surface overprinting by weathering, iron oxide, and oxyhydroxide (hematite, goethite, and limonite) staining, jarosite, and vuggy silica.

Project Background
The Properties are well situated in logistics for exploration, located adjacent to each other, and six to fifteen kilometers west and northwest of the Nicho deposit currently in mine development by Minera Alamos (Figure 1).

The El Mezquite, Jackie, and Diamante projects are currently subject to option agreements with Colibri, wherein SSE can earn 50% of the gold and silver projects by meeting specific criteria over periods of two to four years. El Mezquite and Jackie concessions currently have hyperspectral assays pending interpretation from Phase 1 mapping and prospecting, while the Company recently received our SEMARNAT approval and initiated El Mezquite's maiden drilling program in June.

Figure 3. Location Map of Sonoran Properties and Mines of the Sierra Madre Occidental

The Properties are easily accessible from Mexican Highway #16, which transects Diamante 1 and El Mezquite, ranch trails and dry river beds to Diamante 2, and dry river bed access from the pueblo of La Quema, west of Highway #117 to Jackie. High voltage power lines positioned along with Highway #16.

The Properties are located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear (Figure 3).

Several nearby large operating mines include Alamos Gold's Los Mulatos gold mine and Agnico Eagle's La India gold mine located 50 and 58 km to the northeast, respectively, Agnico's Pinos Altos Mine, 100 km southeast and Argonaut's La Colorada Mine, 100 km west. Exploration in the surrounding area is very active, with adjacent and nearby properties held by Evrim, Newmont, Garibaldi, Kootenay Silver, and Penoles.

Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite, Jackie and Diamante Projects and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("N.I. 43-101"), under TSX guidelines.

About Strategic Consultants IGIS
Based in Chihuahua, Mexico, Strategic Consultants have been in mineral exploration for over 30 years, having GIS and Remote Sensing as powerful tools to search for mineral deposits. Strategic Consultants developed an innovative cloud-based algorithm capable of processing an ASTER image anywhere in the world, in a matter of minutes, yielding up to twenty-five spectral signatures representing the same amount of minerals, each in a separate ArcGIS shapefile. This procedure allows to establish types of alteration, a rock-mineral relationship or geological-mineral characteristic, and helps to select specific areas of interest and objectives. Major mining companies, such as Agnico-Eagle México and Redline Minerals Inc. have used the algorithm for exploration in brownfields and greenfields properties in México and the United States.

About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometers west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:
Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO
(902) 826-1579
mkinley@silverspruceresources.com
info@silverspruceresources.com
www.silverspruceresources.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.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources, Inc.

View source version on accesswire.com:
https://www.accesswire.com/653792/Silver-Spruce-Contracts-ASTER-and-LANDSAT-Spectral-Analysis-on-El-Mezquite-Jackie-and-Diamante-Au-Ag-Concessions-Sonora-Mexico

Figure 1

Gaudet-Fenelon JV

MONTREAL, June 29, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Probe Metals Inc. (“Probe”), is pleased to announce the start of an important drilling program to test new high-priority targets on the Gaudet-Fenelon project. This project is located less than 5 kilometres south of the Fenelon Gold project held by Wallbridge Mining Company Ltd and is a 50/50 joint venture between Midland and Probe.

The Gaudet-Fenelon project covers more than 35 kilometres of favourable yet underexplored structures in the vicinity of the Lower Detour Fault, and is located immediately south of the Fenelon Gold deposit where Wallbridge is currently completing a resource estimate.

Highlights:

• Regional geochemical surveys identified several new high-priority targets for gold and gold-copper

• Induced polarization (“IP”) geophysical surveys south of Fenelon Gold identified high-priority drilling targets

• A 4,500-metre drilling program will commence in July 2021

This maiden drilling program undertaken by Midland and Probe on the Gaudet-Fenelon joint venture project is planned for a minimum of 4,500 metres and will test at least 15 high-priority targets recently identified following geophysical IP surveys combined with a regional biogeochemistry (black spruce bark) survey. A total of 100 kilometres of IP were completed and 1055 biogeochemistry samples were collected in 2020 and 2021, in preparation for the drilling program.

New high-priority drilling targets

To maximize the chances of new discoveries, targets were prioritized by combining favourable structures interpreted from geophysical (Mag-IP) surveys, high-chargeability (IP) axes, and biogeochemical (Au, As, Cu, Zn, Ag) anomalies. As a result of this process, a total of 15 high-priority targets were selected for this drilling program, slated to begin in July 2021.

Cautionary statement:

Mineralization occurring at Fenelon Gold is not necessarily indicative of mineralization that may be found on Gaudet/Fenelon JV held by Midland/Probe described in this press release.

About Probe

Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the multimillion ounce Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Corporation currently owns approximately 11.6% of the Company.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Probe Metals Inc., Wallbridge Mining Company Ltd, BHP Canada Inc., Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.

This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.

For further information, please consult Midland’s website or contact:

Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com

Website: www.midlandexploration.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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21a35645-c381-4651-a295-d8f99321977c

TORONTO, ON / ACCESSWIRE / June 29, 2021 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to announce that is has joined the Walvis Bay Corridor Group (WBCG).

WBCG (wbcg.com.na) is a public-private partnership established in 2000 to promote the utilization of the Walvis Bay Corridors to the Port of Walvis Bay and Lüderitz in the Republic of Namibia. WBCG was established to engage in business development activities – thereby increasing cargo for ports and corridors linked to it, and to engage in the facilitation of corridor and infrastructure development.

The Walvis Bay Corridors are an integrated system of well-maintained tarred roads and rail networks – accommodating all modes of transport – from the Port of Walvis Bay via the Trans Kalahari, Walvis Bay-Ndola-Lubumbashi Development Corridor (previously known as the Trans-Caprivi), Trans-Cunene and Trans-Oranje Corridors providing landlocked SADC countries access to transatlantic markets.

The corridors, serving the two ports, is a network of transport routes from the neighboring SADC countries of Angola, Botswana, Democratic Republic of Congo, Malawi, South Africa, Zambia and Zimbabwe (see Figure 1). The corridors include:

• the Port of Walvis Bay and Lüderitz,

• the Trans Kalahari corridor connecting Botswana and South Africa,

• the Walvis Bay-Ndola-Lubumbashi development corridor connecting Zambia, Zimbabwe, Malawi and the Democratic Republic of Congo,

• the Trans-Cunene corridor connecting Angola, and

• the Trans-Oranje corridor connecting South Africa.

Of specific importance to Tsodilo is the Walvis Bay – Ndola – Lumumbashi Development Corridor (WBNLDC) which connects Namibia – Zambia – Democratic Republic of Congo (DRC) with links to Angola – Zimbabwe, Malawi & Tanzania. WBNLDC provides the shortest route between the Namibian west coast Ports of Lüderitz and Walvis Bay and the vital transport hubs of Livingstone, Lusaka and Ndola in Zambia, Lubumbashi (southern DRC), and Zimbabwe. This corridor is perfectly positioned to service the two-way trade between the SADC region and Europe, North and South America and emerging markets in the East. See Figure 1 for a regional context to this important transport corridor.

The portion of the corridor between Grootfontein (Namibia) to Katima Mulilo located on the Zambia border is the portion of the corridor to the Xaudum Iron Project (Figure 2), and is currently connected by a Grade A bitumen highway used for the transportation of goods and services. However, in March 2021, the Namibian Ministry of Works and Transport commissioned a Feasibility Study for the Trans-Zambezi Railway Extension Grootfontein – Rundu – Katima Mulilo. This feasibility study is one of the project components being implemented under the Namibian Transport Infrastructure Improvement Project and the consultancy services are being funded by the African Development Bank and the Government of the Republic of Namibia. The Trans-Zambezi Railway Extension line linking Zambia and Namibia is planned to pass through Divundu providing access to Walvis Bay, Namibia's deep-sea port.

The proposed rail extension between Grootfontein and Katima Mulilo is significant to Tsodilo as the extension is planned to pass through Divundu in Namibia which is located approximately 35 kilometers (22 miles) from our license location in Northern Botswana (see Figure 2). The feasibility study is expected to be completed by the end of 2021 and its results will be considered in our Preliminary Economic Assessment (PEA).

"The proposed rail extension is an important development for Tsodilo as it opens up a proximate rail transportation system for the delivery of the projects potential iron products, such as iron concentrate, iron pellets, potential direct reduced iron (DRI) products, and Ferrosilicone (FeSi) products, throughout central, eastern and southern Africa as well as international markets," commented the Company's Chairman and CEO, James M. Bruchs.

About Tsodilo Resources Limited
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. The Company has a 100% interest in its Newdico industrial stone project located in Botswana's Central District. Tsodilo manages the exploration of the Newdico, Gcwihaba, and Bosoto projects. Overall supervision of the Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager and Chief Geologist of the Company and a "qualified person" as such term is defined in National Instrument 43-101.

This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward- looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. 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, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. 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, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange ("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. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

FOR FURTHER INFORMATION, PLEASE CONTACT:

James M. Bruchs
Chairman and Chief Executive Officer
JBruchs@TsodiloResources.com

Dr. Alistair Jeffcoate
Project Manager and Chief Geologist
Alistair.Jeffcoate@tsodiloresources.com

Head Office
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369
Website: http://www.TsodiloResources.com

SOURCE: Tsodilo Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/653363/Tsodilo-Resources-Limited-Joins-the-Walvis-Bay-Corridor-Group

VANCOUVER, British Columbia, June 28, 2021 (GLOBE NEWSWIRE) — Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) refers to its press release of April 28, 2021 regarding the Default Notice received from Pala Investments Ltd (“Pala”) and the subsequent Standstill Agreement entered into with Pala.

The Company announces that it has today entered into a further standstill amending agreement with Pala pursuant to which Pala has agreed to extend the standstill period until September 30, 2021.

Furthermore, Melior has also today entered into a further amended demand promissory note (the “Amended Promissory Note”) with Pala extending the maturity of the loan from June 30, 2021 to September 30, 2021. All other terms of the Amended Promissory Note remain unchanged.

MELIOR RESOURCES INC.
Martyn Buttenshaw
Interim Chief Executive Officer
+41 41 560 9070
info@meliorresources.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.

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is ANGLO AMER ADR (NGLOY). NGLOY is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 6.24, while its industry has an average P/E of 7.48. Over the past year, NGLOY's Forward P/E has been as high as 12.90 and as low as 5.75, with a median of 8.42.

We should also highlight that NGLOY has a P/B ratio of 1.70. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 3.22. Over the past 12 months, NGLOY's P/B has been as high as 2.04 and as low as 1.03, with a median of 1.49.

These figures are just a handful of the metrics value investors tend to look at, but they help show that ANGLO AMER ADR is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, NGLOY feels like a great value stock at the moment.

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We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So should Red Metal (ASX:RDM) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Red Metal

Does Red Metal Have A Long Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. In December 2020, Red Metal had AU$3.5m in cash, and was debt-free. In the last year, its cash burn was AU$783k. That means it had a cash runway of about 4.5 years as of December 2020. There's no doubt that this is a reassuringly long runway. Depicted below, you can see how its cash holdings have changed over time.

How Well Is Red Metal Growing?

It was fairly positive to see that Red Metal reduced its cash burn by 28% during the last year. But the operating revenue growth of 204% was even better. We think it is growing rather well, upon reflection. In reality, this article only makes a short study of the company's growth data. You can take a look at how Red Metal is growing revenue over time by checking this visualization of past revenue growth.

Can Red Metal Raise More Cash Easily?

We are certainly impressed with the progress Red Metal has made over the last year, but it is also worth considering how costly it would be if it wanted to raise more cash to fund faster growth. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of AU$34m, Red Metal's AU$783k in cash burn equates to about 2.3% of its market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

So, Should We Worry About Red Metal's Cash Burn?

As you can probably tell by now, we're not too worried about Red Metal's cash burn. In particular, we think its revenue growth stands out as evidence that the company is well on top of its spending. And even though its cash burn reduction wasn't quite as impressive, it was still a positive. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 3 warning signs for Red Metal that investors should know when investing in the stock.

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

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

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

VANCOUVER, BC / ACCESSWIRE / June 28, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") announces that it has granted incentive stock options to directors, officers, employees and consultants, entitling them to purchase up to a total of 2,500,000 common shares at a price of $0.39 per share for a period of five years. The options will vest on a quarterly basis commencing three months from the date of grant.

About Strategic Metals Ltd.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of $9 million and large shareholdings in a number of active mineral exploration companies including 38.9% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.9% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.7% of Silver Range Resources Ltd. All of these companies are well funded and are engaged in promising exploration projects. Strategic also owns 21.9% of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed a US$9.2 million financing to advance its environmentally-friendly, cost-effective alternative to Portland cement. The current value of Strategic's stock portfolio is approximately $33 million.

ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.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.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/653179/Strategic-Metals-Ltd-Announces-Granting-of-Stock-Options

VANCOUVER, BC / ACCESSWIRE / June 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to provide an update on its upcoming summer diamond drill program at the Ashram Rare Earth and Fluorspar Deposit, located in northern Quebec. The Company will carry-out its program concurrently with the drill program by Saville Resources Inc. on the adjacent Niobium Claim Group Property. The overlap of the two programs is expected to result in significant cost savings through shared drill rig mobilization, camp operation, and other mutual program support costs.

The program will be carried out with Logan Drilling Ltd of Stewiacke, NS, contracted for approximately 2,500 m of NQ core drilling over 15 to 20 holes. The positioning of the drill rig and equipment will commence shorty with final mobilization to the Eldor Property (the "Property") tentatively scheduled for July 10^th to 12^th, 2021. Commerce's drill program will immediately follow that of Saville's (~2-3 weeks), with a first collar planned in early August and drilling expected through mid-September.

The Company is also well-advanced with the drill core relog and geological model update for the Ashram Deposit. The model will guide the forthcoming drill program with the objective of further delineating the northern and southern extents of the deposit, where it remains open, as well as to increase resource category confidence from indicated to measured in the core area of the deposit where the neodymium-praseodymium ("NdPr") distribution is highest (i.e. highest value rock).

In addition to the drilling, the Company intends to collect any remaining field data that is required for the Prefeasibility Study (PFS) as well the remaining Qualified Person site visits. In parallel to the field programs, the Company continues to advance its flowsheet development at Hazen Research in Colorado, with other components of the PFS currently being advanced by third party consultants (BBA Engineering, CIMA+, etc).

The Company notes that it will carry-out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The Company has successfully navigated the process to enter Nunavik and has obtained authorization to complete its planned field activities. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.

NI 43-101 Disclosure

Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.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.

Forward Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include our plans to drill at the Ashram project and expected timing, that the overlap of the two programs is expected to result in significant cost savings through shared drill rig mobilization, camp operation, and other mutual program support costs; that we intend to collect any remaining field data that is required for the Prefeasibility Study; the expected results allowing us to delineate the mineralization, and plans for environmental work; and that we could become a long term supplier of mixed rare earth carbonate and/or NdPr oxide. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed don't work as well as expected, the drilling may not go as planned or start when expected, we may experience difficulties in drilling and carrying out environmental work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/653296/Commerce-Resources-Corp-Provides-Update-on-Summer-Drill-Program-for-the-Ashram-Rare-Earth-and-Fluorspar-Deposit

It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares in Jervois Mining Limited (ASX:JRV).

Do Insider Transactions Matter?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.

Insider transactions are not the most important thing when it comes to long-term investing. But equally, we would consider it foolish to ignore insider transactions altogether. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise'.

See our latest analysis for Jervois Mining

Jervois Mining Insider Transactions Over The Last Year

The insider Greg Young made the biggest insider purchase in the last 12 months. That single transaction was for AU$734k worth of shares at a price of AU$0.30 each. Even though the purchase was made at a significantly lower price than the recent price (AU$0.56), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

In the last twelve months Jervois Mining insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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

Insider Ownership

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Jervois Mining insiders own 8.8% of the company, worth about AU$40m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The Jervois Mining Insider Transactions Indicate?

There haven't been any insider transactions in the last three months — that doesn't mean much. But insiders have shown more of an appetite for the stock, over the last year. Insiders do have a stake in Jervois Mining and their transactions don't cause us concern. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Jervois Mining. Case in point: We've spotted 3 warning signs for Jervois Mining you should be aware of, and 1 of them is a bit unpleasant.

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

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

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

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