Highlights

• Restructuring of Mkango and Talaxis’ interests in both the Songwe Hill Rare Earths Project and Maginito simplifies and optimises the Company’s ownership structure prior to delivery of the Songwe Hill Feasibility Study, and significantly enhances its growth potential:

  • Mkango to increase ownership of the Songwe Hill Rare Earths Project and of Maginito to 100% in a £13m share transaction with Talaxis

  • Mkango retains all offtake rights relating to Songwe Hill, Maginito and the 100% owned Pulawy Separation Plant project in Poland

• Complementary £5.52m fundraising at a 2.9% premium to its five-day VWAP, including a £700,000 investment by Non-Executive Chairman Derek Linfield

• Mkango is fully funded to complete the Feasibility Study for the Songwe Hill Rare Earths Project, targeted for completion in Q1 2022

• Mkango now positioned to accelerate its integrated Mine, Refine, Recycle strategy with a simplified and vertically aligned ownership structure and enhanced financial flexibility

• Strong market backdrop with accelerating demand for rare earths permanent magnets and increased focus on security of supply and recycling of rare earths

LONDON and VANCOUVER, British Columbia, Aug. 05, 2021 (GLOBE NEWSWIRE) — Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that Mkango and Talaxis Limited (“Talaxis”), a subsidiary of Noble Group, have entered into an agreement (the “Agreement”) whereby Mkango will acquire Talaxis’ 49% interest in Lancaster Exploration Limited (“Lancaster”), which owns the Songwe Hill Rare Earths Project in Malawi (“Songwe Hill”), and Talaxis’ 24.5% interest in Maginito Limited (“Maginito”), which holds a 25% interest in rare earths magnet recycler HyProMag Limited (“HyProMag”), for 54,166,666 Mkango shares (the “Transaction”), equivalent to £13m at the Placing Price (as defined below).

Complementary to the Transaction, Mkango has conditionally raised £5.52m (£5.29m net of fees) (the “Placing”) from new and existing shareholders at a price of £0.24 (approx. C$0.42) per share (the “Placing Price”), including a proposed £700,000 investment by Non-Executive Chairman Derek Linfield.

Completion of the Placing and Transaction are subject to customary closing conditions and the approval of the TSX Venture Exchange (“TSX-V”). Completion of the Transaction and the investments proposed by Mr Linfield and Resource Early Stage Opportunities Company (“RESOC”), another related party proposing to participate in the Placing, are also subject to the approval of the independent shareholders of the Company. One additional investor has also made its participation in the Placing conditional on shareholder approval of the Transaction. Mkango has scheduled its Annual General and Special Meeting of Shareholders (the “Meeting”) to approve, amongst other things, the Transaction and the investments by Mr Linfield and RESOC, on 6 October 2021. See “Related Party Transaction, Control Person Approvals and Other Regulatory Matters” below for further discussion.

On completion of the Transaction, Mkango will own 100% of Lancaster and Maginito, in addition to its existing wholly owned interests in Mkango Polska (which is developing a rare earth separation plant in Poland) and three other exploration licences in Malawi, which includes the exciting Mchinji exploration project.

The Transaction is expected to bring significant benefits to the Mkango group, including:

• Consolidation of assets and offtake under Mkango’s control, increasing financial flexibility and underpinning the Company’s future growth strategy

  • Simplification of ownership structure enhances optionality for Songwe Hill development funding, including the potential introduction of additional strategic investors and development partners

• Restoring 100% ownership over Songwe Hill brings Mkango’s structure in line with peers, providing greater transparency for investors

• Increasing ownership of Maginito to 100% provides greater exposure to HyProMag and the rare earth recycling market, which the board expects to have substantial growth potential

• Greater integration between the mining, separation and recycling businesses, increasing synergies along the value chain

The new structure is expected to enable Talaxis to participate in any share price upside as Mkango advances its projects and gives Talaxis exposure to Mkango’s other assets, which include the Pulawy Separation Plant (the “Separation Plant”) currently undergoing feasibility studies in Poland and Mkango’s other exploration licences in Malawi.

Derek Linfield, Non-Executive Chairman of Mkango, stated: “This transaction brings material benefits to both Mkango and Talaxis and strengthens Mkango’s position as a future integrated supplier of rare earths.

Talaxis has strongly supported the advancement of Songwe Hill and Maginito since its initial investments in 2017, subsequent to which Mkango has grown downstream, adding investments in recycling (via HyProMag) and the Separation Plant in Poland. At the same time, market conditions for rare earths have improved markedly.

We believe this transaction delivers a better platform to create value and a structure more aligned with the strategies of both companies. We look forward to Talaxis’ continued support as we progress towards development of Songwe Hill and our other projects.”

Stephen Motteram, Head of Corporate Development for Noble Group, stated: “Talaxis is excited to support this reorganisation and simplification of Mkango’s corporate structure. With the increasing electrification of the global economy, Talaxis sees significant growth in the permanent magnet market, especially from EVs and wind power. This corporate reorganisation allows Talaxis to better share in the upside from Mkango’s integrated Mine, Refine, Recycle strategy, which includes the recently announced and highly attractive Pulawy Separation Plant project in Poland and Mkango’s strategic interest in rare earths magnet recycler, HyProMag. It also increases Talaxis’ exposure to Mkango’s other assets, such as the highly prospective Mchinji rutile exploration project in Malawi. We look forward to working with management as the Feasibility Study for Songwe Hill and other work streams move towards completion.”

The Transaction

Under the terms of the Transaction, on completion, Mkango will issue to Talaxis 54,166,666 common shares in Mkango (the “Consideration Shares”) at the Placing Price, comprising a total consideration of £13m. The Transaction is subject to approval by Mkango shareholders, as discussed in more detail below under “Related Party Transaction, Control Person Approvals and Other Regulatory Matters”. The Company has scheduled its Annual General and Special Meeting of Shareholders for 6 October 2021, to, amongst other things, seek such approval. In connection with and upon completion of the Transaction, existing agreements between Mkango and Talaxis will be terminated. On completion of the Transaction, amongst other things, Talaxis will no longer be required to finance the completion of a Feasibility Study for Mkango’s Songwe Hill. Talaxis’ funding obligations are currently suspended until the earlier of completion of the Transaction or the Transaction termination date of 29 October 2021.

Upon completion of the Transaction, Mkango will enter into a lock-in deed with Talaxis (“Lock-in Deed”) which will provide, amongst other things, that for so long as the Noble Group owns 10% or more of Mkango’s shares, Talaxis will be entitled to appoint a nominee to the board of the Company. Talaxis has indicated to the Company that it intends to nominate Stephen Motteram as a director to the Mkango board. Mr Motteram has 25 years’ experience in financial institutions and trading houses, specialising in project development, commodities trading, M&A, and corporate restructuring with transaction experience in Australia, China, SE Asia, Africa, South America, Russia and the Middle East. He has worked for Noble since 2011 and is currently Head of Corporate Development. Mr Motteram holds a B. Agricultural Science (Honours) from the University of Melbourne and an MBA from the Melbourne Business School and Ivey Business School. He is a Member of CPA Australia and a Graduate and Member of the Australian Institute of Company Directors. The appointment of Mr Motteram will be subject to the approval of the TSX-V and the normal due diligence exercise by the Company’s nominated adviser.

Following completion of the Transaction and the Placing, Talaxis’ shareholding in Mkango will have increased from 11.3% to 32.6%.

The Placing

Complementary to the Agreement, Mkango has conditionally raised £5.52m (£5.29m net of fees) from existing shareholders, including Derek Linfield, the Non-Executive Chairman of Mkango and new institutional investors, through the subscription for 23.0m common shares (“New Shares”) at £0.24per Mkango common share ("Share").

The issue price equates to premiums of 2.9% and 4.8% relative to the trailing five-day volume weighted average price (“VWAP”) of Mkango’s shares on the AIM and TSX-V, respectively.

The use of proceeds is intended to be used for the completion of the Feasibility Study for Songwe Hill and general corporate purposes, including for feasibility studies at Mkango Polska. Mkango’s cash position after the Placing is expected to be approximately £5.23m, with an expected additional £1.03m of funds to be received following approval of the Transaction and the placing to related parties at the Meeting.

The Placing was unanimously approved by the directors of the Company (other than Mr Linfield who was required to abstain from the vote given his participation in the Placing). Other than with respect to subscriptions being made by related parties, being RESOC and Mr Linfield, as described in more detail below, and an additional investor, the Placing is expected to close on or around 16 August, 2021 and is subject to the receipt of all necessary approvals including the approval of the TSX-V. The placing to related parties will not close until disinterested shareholder approval of such participation is obtained at the Meeting. A subscription for 350,000 New Shares as part of the Placing by an investor who has made its investment conditional on the completion of the Transaction will also not close until after, and dependent on, the approval of the Transaction at the Meeting.

The New Shares will rank pari passu with the existing Shares and application has been made for the New Shares (other than 59.6m New Shares expected to be issued after the Meeting) to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Shares (other than New Shares expected to be issued after the Meeting) will commence at 8:00am on or around 17 August, 2021. The New Shares will be subject to a statutory hold period in Canada expiring on the date that is four (4) months and one day from issuance of the New Shares, and will also be listed for trading on the TSX-V, provided that approval of such listing from the TSX-V is obtained.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission, its issued share capital will consist of 153.6m Shares (excluding any New Shares expected to be issued after the Meeting). The Company does not hold any Shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

In connection with the Transaction, Mkango has agreed to pay, at completion of the Transaction, commissions to Bacchus Capital Advisers Limited (“BCA”) of 2% of the purchase price payable to Talaxis, equivalent to £260,000, of which half will be satisfied in Shares (issued at the Placing Price) and the other half in cash, subject to the approval of the TSX-V. In addition, Mkango has agreed to pay BCA a fee of £30,000 in connection with BCA’s review of the Transaction and advice to the board. In connection with the Placing, Mkango has agreed to pay, at completion of the Placing, commissions of up to 5% in cash and 2% in non-transferable broker warrants, in each case with reference to cash raised by each of BCA, Shard Capital Partners LLP, Alternative Resource Capital, Merlin Partners LLP and Jub Capital Management LLP. In addition, Shard Capital and Alternative Resource Capital will be entitled to a shared corporate finance fee of £5,000. The broker warrants will have a term of 12 months from issue and an exercise price of £0.24. The total number of broker warrants to be issued on completion of the Placing is 239,315. Payment of the commissions (and issuance of the warrants) to the brokers is subject to acceptance of the TSX-V. The Shares issuable pursuant to exercise of the broker warrants will be subject to a statutory hold period in Canada expiring on the date that is four (4) months and one day from issuance of the warrants. SP Angel Corporate Finance LLP, the Company’s nominated advisor, will be paid a fee of £7,500 for corporate finance advice to the Board in relation to the Transaction and the Placing.

Lock-In Deed

Under the Lock-In Deed, Talaxis will agree that for so long as it holds 10% or more of the Company’s Shares, it will not, during the first 12 months following completion of the Transaction, sell or transfer any of its Shares, other than pursuant to certain limited exceptions. For the second 12 months following Completion, Talaxis will agree to an orderly market arrangement. Also, under the Lock-in Deed, Mkango will agree that for so long as Talaxis holds 10% or more of the Company’s Shares, it will not issue, transfer or pledge any new Shares in Lancaster or Maginito to any party who is not an affiliate of the Company without the consent of Talaxis, provided that Mkango will be permitted to pledge the Shares held by it in Lancaster and/or Maginito where the Company, Lancaster, Maginito or any other subsidiary of the Company wishes to raise project or other forms of debt finance.

Related Party Transaction, Control Person Approvals and Other Regulatory Matters

Talaxis is currently the holder of approximately 11.3% of the issued and outstanding Shares of Mkango. As such, Talaxis is a Non-Arm’s Length Party pursuant to applicable rules of the TSX-V, as well as a “related party” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Pursuant to MI 61-101, the Transaction is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Talaxis, its affiliates and joint actors).

The Company is exempt from the formal valuation requirement of MI 61-101 in respect of the Transaction pursuant to section 5.5(b) of MI 61-101 – Issuer not Listed on Specified Markets, as no securities of the Company are listed or quoted on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ Stock Market, or a stock exchange outside of Canada and the United States other than the AIM market of the London Stock Exchange.

Following the issuance to Talaxis of the Consideration Shares, Talaxis will own 69.5m Shares, representing an interest of approximately 32.6% of the issued and outstanding Shares of the Company. As a result of it owning 20% or more of Mkango’s Shares, Talaxis will constitute a “Control Person” (as defined in the TSXV Corporate Finance Manual). The issuance of the Consideration Shares therefore requires disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Talaxis, its affiliates and joint actors), which will be sought at the Meeting.

The Placing is integral to the Transaction and therefore the Company intends to rely on the “part and parcel pricing exception” provided for in the policies of the TSX-V.

RESOC has agreed to subscribe for 1,666,666 Shares pursuant to the Placing (“RESOC Investment”). As of the date hereof, and prior to completion of the Placing, RESOC owns 14,333,081 Shares, representing approximately 10.6% of the issued and outstanding Shares. As a result of owning 10% or more of the Shares, RESOC constitutes a “related party” of Mkango (as defined in MI 61-101) and is a Non Arm’s Length Party pursuant to applicable rules of the TSX-V. Pursuant to MI 61-101, the RESOC Investment is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by RESOC, its affiliates and joint actors). This approval will be sought at the Meeting.

The Chairman of the Company, Derek Linfield, has agreed to subscribe for 2,916,666 Shares pursuant to the Placing. As of the date hereof, and prior to completion of the Placing, Mr Linfield owns 5,139,561 Shares, representing approximately 3.8% of the issued and outstanding Mkango shares. As a result of being a director of Mkango, Mr Linfield is a “related party” of Mkango (as defined in MI 61-101) and a Non-Arm’s Length Party pursuant to applicable rules of the TSX-V (as defined in MI 61-101). Pursuant to MI 61-101, the investment by Mr Linfield is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Mr Linfield, his affiliates and joint actors). This approval will be sought at the Meeting.

Related party transactions under the AIM Rules for Companies (the “AIM Rules”)

Talaxis is a substantial shareholder in Mkango under the AIM Rules and is therefore regarded as a related party under the AIM Rules. As a result, the Transaction is a related party transaction for the purposes of Rule 13 of the AIM Rules. The directors of Mkango, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of the Transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

As Derek Linfield is a director of the Company, his participation in the Placing also constitutes a related party transaction pursuant to Rule 13 of the AIM Rules. The directors of Mkango, other than Derek Linfield, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of Mr Linfield’s participation in the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.

RESOC is also a substantial shareholder in Mkango and therefore a related party under the AIM Rules and its participation in the Placing is a related party transaction under Rule 13 of the AIM Rules. The directors of Mkango, other than Derek Linfield who is participating in the Placing, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of RESOC’s participation in the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.

About Mkango

Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.

Mkango is developing Songwe Hill in Malawi with a Feasibility Study targeted for completion in Q1 2022. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland. The Separation Plant will process the purified mixed rare earth carbonate produced at Songwe.

Through its ownership of Maginito (www.maginito.com), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies. Maginito holds a 25% interest in UK rare earth (NdFeB) magnet recycler, HyProMag (www.hypromag.com) with an option to increase its interest to 49%.

Mkango also has an extensive exploration portfolio in Malawi, including the Mchinji rutile discovery, for which assay results are pending, in addition to the Thambani uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.

For more information, please visit www.mkango.ca.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango, its business, the Plant and Songwe. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, Shareholder approval of the Transaction and the investments by related parties, TSX-V approval of the Transaction and the Placing, settlement risk with respect to the Placing, governmental action relating to COVID-19, COVID-19 and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, factors relating the development of the Separation Plant, including the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the Separation Plant, changes in economics and government regulation, the positive results of a feasibility study on Songwe Hill and delays in obtaining financing or governmental approvals for, and the impact of environmental and other regulations relating to, Songwe Hill and the Separation Plant. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

For further information on Mkango, please contact:

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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 press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

ROUYN-NORANDA, Quebec, Aug. 05, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that Globex has purchased 100% interest in a block of claims in Rouyn and Joannes townships, Quebec (NTS 32D02) approximately 10 km east of Rouyn-Noranda herein called the Rouyn Merger property. The property consists of 49 claims totaling 1,509.4 hectares (3,729.8 acres) covering approximately 6.5 kilometres (4.04 miles) of the prolific, gold localizing Cadillac Break. The vender, IAMGOLD Corporation (IMG–TSX), received 183,000 Globex shares subject to a 4 month hold period and a 1% Net Smelter Royalty.

The Rouyn Merger property includes several areas of known gold mineralization including the Rouyn Merger, O’Neil-Thompson and East O’Neil zones which have seen historical drilling to relatively shallow depth, outlining in some cases significant but erratic gold vein structures at or near the gold localizing Cadillac Break.

The Cadillac Break is one of the most important gold localizing structures in the Abitibi of Quebec and Ontario with numerous gold deposits located along its length. The Rouyn Merger property has been explored intermittently since the 1930’s when the Rouyn Merger gold deposit was found. Various non-compliant resource calculations have been undertaken on the Rouyn Merger gold zone but, due to the structural complexity of the ore lenses and expected high levels of dilution, production has been limited to a brief period in 1948-1949 of 32,198 t grading 3.87 g/t Au. Metallurgical testing between 1943 and 1947 indicated 95% gold recovery by treating ore crushed to 60% minus 200 mesh. Likewise, exploration on the O’Neil-Thompson gold zone outlined a non NI 43-101 compliant resource and limited production in 1936 of 2,449 tonnes. Other occurrences such as the East O’Neil have published but unverifiable resources.

The most recent work on the property was in 2015-16 during which an aeromag survey was flown, mapping and surface sampling undertaken and seven drill holes completed totaling 1,956 metres in three target areas. Several holes intersected significant gold values, such as Hole RM15-05 which returned 16.0 g/t Au over 1 metre from 277.5 to 278.5 m followed by 4.19 g/t Au over 0.5 m from 278.5 m to 279.0 m. The target of this exploration was to locate a large tonnage, low grade, bulk mineable gold deposit not higher grade underground minable, narrower vein deposits historically mined along the Cadillac Break.

Prior to acquiring the property, Globex undertook 3D modeling of all the readily available geological, geophysical and drill data. The modeling has allowed Globex to identify a number of priority areas for drilling many at shallow depth but others at mid-level depths of 500 metres and below. Although the area was flown as recently as 2015 with an aeromagnetic survey, Globex believes that the details provided by closely spaced lines using the Novatem aeromagnetic system may unlock a better understanding of the geological trends and structures and Globex intends to undertake such a survey over the entire property but at a different angle than the previous survey in order to merge such data with our 3D modeling.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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.

BEDFORD, NS / ACCESSWIRE / August 5, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE)(FRA:S6Q1) is pleased to announce the completion of its Phase 1 exploration drilling at the El Mezquite Au-Ag property ("El Mezquite" or the "Property"). A total of 2,485 metres were drilled in twenty (20) holes covering eight collar locations. The first seven (7) drill holes were completed on June 14^th and the Company is anticipating the final results of gold, silver and multi-element analyses by mid-August. The remaining thirteen (13) holes were drilled with two RC rigs from Layne de Mexico and completed as scheduled on July 28^th.

"We were pleased to expedite exploration with additional geologists and samplers, and equipped with a second drill, Silver Spruce completed over 1,500 metres during July 21^st to 28^th. Logging and splitting of samples are progressing quickly at our option partner Colibri Resource's office facilities in Hermosillo. Samples will be submitted to ALS Global through the first week of August and, during September, we are looking forward to assays which reflect the potential of the outcrop samples," stated Greg Davison, Silver Spruce Vice-President Exploration and Director.

Figure 1. Pad M1 (MEZ-002, 180°, -70°) at El Mezquite showing RC rig from Layne de Mexico

"The Phase 1 RC program (see Figure 1 and Table 1) comprised 20 holes with a combined depth of 2,485 metres and utilized 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. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies," said Mr. Davison. "New targets for Phase 2 drilling are developing from our ongoing geological, hyperspectral, LANDSAT and LiDAR compilation, and incoming drill results as available."

Table 1. Final drill hole data for the Phase 1 El Mezquite exploration program

The Company's first-ever drilling program at El Mezquite was completed in July with samples being submitted to ALS Global in Hermosillo in daily batches of 3-4 holes. Laboratory assay results generally are expected from four to eight weeks after submittal. Laboratory workloads have impacted the projected turnaround timelines for the assays. The data will be released once the final precious metal and multi-element results are in receipt and interpreted for the first seven (7) drill holes, and for the remaining thirteen (13) drill holes, and all of which will contribute to the program design for Phase 2 drilling after the summer rainy season.

El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 2).

Figure 2. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite.

Exploration Overview

The Company undertook an exploration program including environmental permitting for drilling, geological mapping of geologic structures and lineaments, ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS modeling, and a LiDAR survey. Ground truthing of the Au-Ag system with geological mapping and rock sampling was completed in three campaigns between July 2020 and March 2021. All aspects of the exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.

All current samples from the 2020-2021 field programs were submitted to ALS Global for gold, multi-element and hyperspectral analysis. Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary multi-element and hyperspectral data over the Property database. The assays, LiDAR survey data, and satellite hyperspectral interpretation results are being updated into the project ArcGIS database.

RC Drill Program

The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT).

The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession. Individual holes achieved depths of 100-200 metres to intersect the target intervals.

Land surface agreements were signed recently with three ranchers to facilitate full access to the Phase 1 collar locations.

Project Background

The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figure 2). High voltage power lines are positioned along Highway #16.

The El Mezquite Project is 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.

Geochemical Analysis, Quality Assurance and Quality Control

Drill chip sample splits are delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

The samples are crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits are transferred internally to ALS Global's North Vancouver, Canada or Lima, Peru analytical facility for gold and multi-element analysis. Pulps (50gram split) are submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24).

The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42).

Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals will be analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) are inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples are reviewed by the Company's QP and evaluated for acceptable tolerances.

All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite Project 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 ("NI 43-101"), under TSX guidelines.

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 pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres 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 and Director
(902) 402-0388
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/658521/Silver-Spruce-Completes-Phase-1-Drilling-at-El-Mezquite-Au-Ag-Project-Sonora-Mexico

VANCOUVER, British Columbia, Aug. 04, 2021 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce results of independent testwork conducted on anorthosite from the White Mountain mine in Greenland. The testwork, conducted in Norway, confirms that anorthosite from the White Mountain mine gives very high leach recoveries with short leaching times for aluminum and calcium dissolution. This is the key first step in the production of a waste-free smelter grade “Green Alumina” product for the aluminum industry. This work confirms Hudson’s earlier work completed at SGS Lakefield and current testwork being undertaken at KPM in Kingston, Ontario (see NR2021-03). Hudson’s objective is to demonstrate an economic process to produce a “Green Alumina” product from anorthosite. Hudson has a 31.1% equity interest in the White Mountain anorthosite mine and rights to acquire 100%.

The testwork was conducted by the Institute for Energy Technology (IFE) in Norway as part of its AlSiCal project, and was funded through the European Union’s (EU) Horizon 2020 Research and Innovation program under grant No 820911. For more information about IFE please see https://ife.no/en/ and for information on AlSiCal please refer to: https://www.alsical.eu/.

Hudson provided several samples of anorthosite for the testwork including a minus 250 micrometer product and coarse (+100mm) rock samples, crushed and sieved down to 77-760 microns for testing. The IFE determined that the identified samples submitted by Hudson were “of high quality” in the context of the AlSiCal project. Key results are as follows:

• Both the aluminum and calcium are leached simultaneously

• Leaching of between 87-97% wt% (weight percent) in the first two hours

• Leaching of 93-100 wt% in four hours

• Variability within range is attributed to different particle sizes and/or the anorthosites natural heterogeneity

Results were confirmed by ICP-MS analysis and XRF analysis.

Testwork on the two samples demonstrated what IFE considered as “fast leaching” characteristics and a “high total dissolution yield (being 100% the theoretical, calculated maximum dissolution yield based on the available analyses)”.

The AlSiCal project objective is to secure for the EU, a sustainable process for the production of alumina, silica and precipitated calcium carbonate by researching, developing and de-risking ground-breaking technology aiming for ZERO Bauxite residue and ZERO CO₂ emissions during their co-production.
Two leaching tests were performed by IFE, which included the following steps:

• Mixing of anorthosite with 20 wt% Hydrochloric acid (HCl) at 140 degrees C

• Cooling of the final reaction mixture

• Separation of liquid and solid fractions by centrifugation and decanting

• Washing of solid fractions and drying

Jim Cambon, President commented: “The EU funded testwork conducted by IFE and AlSiCal independently confirms an efficient and straightforward leaching process of aluminum and calcium from the White Mountain anorthosite. This represents a key step in the production of a waste-free “Green Alumina” product and offers a direct replacement to bauxite which creates almost four tonnes of waste for every tonne of aluminum produced. The time is right for the production of a truly green aluminum in which anorthosite is a key solution.”

In addition to its interest in the White Mountain anorthosite operation, Hudson owns 100% of the Sarfartoq rare earth element (“REE”) project and the high-grade Nukittooq niobium-tantalum project located on the Sarfartoq exploration license. The Sarfartoq REE project has a 43-101 indicated and inferred resource outlining 35,000 tonnes of neodymium oxide plus praseodymium oxide, the two key components in permanent magnets driving the green revolution. There is significant potential to expand this REE resource, while the Nukittooq project has some of the highest reported niobium assays in the industry (see NR2020-15).

J.R. Goode, P. Eng., is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the metallurgical and technical information in this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim Cambon”

President and Director

For further information:
Ph: 604-628-5002

Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or 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”, or “plan”.

Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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.

We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So before you buy or sell Pacific Bay Minerals Ltd. (CVE:PBM), you may well want to know whether insiders have been buying or selling.

Do Insider Transactions Matter?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, rules govern insider transactions, and certain disclosures are required.

We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. 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'.

Check out our latest analysis for Pacific Bay Minerals

Pacific Bay Minerals Insider Transactions Over The Last Year

While there weren't any large insider transactions in the last twelve months, it's still worth looking at the trading.

Over the last year, we can see that insiders have bought 1.32m shares worth CA$128k. But they sold 900.20k shares for CA$63k. Overall, Pacific Bay Minerals insiders were net buyers during the last year. Their average price was about CA$0.097. To my mind it is good that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price of CA$0.16. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Are Pacific Bay Minerals Insiders Buying Or Selling?

In the last three months, insiders bought CA$63k. But that was only a smidgen more than the CA$63k worth of sales. Overall, we don't think these recent trades are particularly informative, one way or the other.

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. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that Pacific Bay Minerals insiders own 49% of the company, worth about CA$1.3m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About Pacific Bay Minerals Insiders?

Insider purchases may have been minimal, in the last three months, but there was no selling at all. The net investment is not enough to encourage us much. On a brighter note, the transactions over the last year are encouraging. With high insider ownership and encouraging transactions, it seems like Pacific Bay Minerals insiders think the business has merit. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Pacific Bay Minerals. To that end, you should learn about the 4 warning signs we've spotted with Pacific Bay Minerals (including 3 which are a bit concerning).

Of course Pacific Bay Minerals may not be the best stock to buy. So you may wish to see this free collection of high quality 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.

7.5 Meters of Quartz Veins Intersected Visible Gold Throughout

Golden Promise Gold Project – Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / August 4, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed the fourth and fifth holes (GP-21-152 and GP-21-153) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The holes were completed at the Jaclyn Main Zone, both being definition holes. Visible gold is present at two locations within GP-21-153, hosted in quartz veins.

Quartz Veined Interval in GP-21-153 with Visible Gold

Both GP-21-152 and GP-21-153 were drilled within the west region of the Jaclyn Main Zone (JMZ), being part of the Company's Phase 2 drilling program. The western part of the JMZ gold bearing quartz vein system is reported to strike slightly northeast and dip steeply to the southeast.

Drill hole GP-21-152 was drilled slightly northwest at an approximate 60-degree dip, approximately 20 meters east of drill hole GP-19-142B. GP-21-152 intersected a quartz veined zone at 46.9 – 49.6 meters. The hole was drilled to a length of 89 meters.

Drill hole GP-21-153 was collared approximately nine meters northwest of drill hole GP-19-140. Drill hole GP-19-140 (drilled at a 75-degree dip slightly northwest) intersected multiple gold bearing quartz veins within a 25.2-meter core length interval (2.3 grams / tonne Au over 25.2 meters core length). GP-21-153 was drilled at a steeper angle (approximately 82-degree dip), slightly northwest to provide further definition of the gold bearing veins intersected in GP-19-140. It was drilled to a length of 101 meters. GP-21-153 intersected multiple quartz veins. A quartz vein intersected at 44.00-44.63 meters contains visible gold. A zone of predominantly quartz veins intersected at 66.90-74.48 meters also contains visible gold.

Quartz Vein with Visible Gold in GP-21-153

Drill core samples from GP-21-152 and GP-21-153 will be submitted to a certified laboratory for gold assay and multi-element analysis.

The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone (JNZ) with total planned drilling of approximately 5,000 meters. The objective of drilling 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 the interval of multiple gold bearing veins in GP-19-140 averaging 2.30 g/t gold over 25.25 meters.

The drill has been moved to the JNZ and has begun drilling GP-21-154, testing the extension of the JNZ gold bearing quartz vein system along projected strike east of pre-Great Atlantic historic drilling. The first three holes of the Phase 2 drilling program were completed during late 2020 at the JNZ, each intersecting gold bearing veins and extending the JNZ quartz vein system approximately 260 meters east of historic drill holes. The company had located gold bearing quartz boulders during 2017-2020 in the area of current drilling at the JNZ, including four boulder samples exceeding 100 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. (MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (SIC) at the Moosehead Gold Project and New Found Gold Corp. (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/658306/Great-Atlantic-Fourth-and-Fifth-Drill-Holes-Completed

Montreal, Quebec–(Newsfile Corp. – August 4, 2021) – Vanstar Mining Resources Inc. (TSXV: VSR) ("Vanstar", or the "Company") is pleased to provide an update on its exploration activities.

Nelligan

The summer drill program is underway with the drill currently focused on the infill drilling program. To date 5 holes (1,600 m) have been completed with a further 5 to 10 holes anticipated in this zone. Upon completion the focus will shift to the western extension with the view of expanding the resource.

Felix

The company has concluded its analysis of a recent Induced Polarity ("IP") survey on the Felix property. The IP survey focused on a western portion of the property underlain by a folded banded iron formation (Figure 1). A number of chargeability anomalies that are consistent with previously reported MEGATEM conductors were identified. As a result, the Company has refined its drilling program on the property (Figure 2) and intends to drill the targets in September. A drill rig has been secured and preparatory work is underway.

The IP survey outlined a fold-shaped conductive anomaly coincident with an interpreted fold from the magnetic survey in the known iron formation. The conductive IP anomaly is interpreted as being caused by sulphides. The magnetic survey indicated the presence of a potential fold with a decrease of the magnetic susceptibility along the limb and the hinge of the fold. This was interpreted as a possible sulphidation of the oxide-facies iron formation. The conductive IP anomaly seems to corroborate this interpretation. It is well known that gold deposits in iron formation are often associated with folding and sulphidation. The Lupin Mine in the NWT is a typical example of this gold deposit type.

Figure 1: Felix Property IP Survey Area

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8185/92033_ecf089ec24d20abf_002full.jpg

Figure 2: IP Survey and Planned Holes

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/8185/92033_ecf089ec24d20abf_003full.jpg

Frida and Eva

The company is mobilizing a ground crew to conduct a prospecting and sampling program on the Frida and Eva projects. Work is expected to be conducted in September.

Corporate Update

The company held it's AGM on July 27, 2021. The following board members were elected:

• Victor Cantore

• Albert Contardi

• Wanda Cutler

• Claude Dufresne

• Jonathan Gagne

• Luc Gervais

Following the Annual General Meeting, Albert Contardi was elected as Chairman of the Board. In addition, Brunet Roy Dube Labone LLP were appointed as auditors and the Company's stock option plan was approved.

JC St. Amour, President and CEO of Vanstar commented, "From a corporate governance perspective, I would like to point out that the entire board is comprised of independent directors. I am pleased to welcome them and I look forward to working together in the year ahead."

In addition, the Company announces that the board of directors has granted 2,625,000 options to officers, directors, and consultants to the company pursuant to its stock option plan. The options are exercisable for a period of 5 years at a price of $0.50 and vest immediately.

About the Felix Project

The Felix project is located in an environment of volcanosedimentary origin comprising a unit of volcanic rock in the north, another in the south and the central part is occupied by sedimentary rocks. Late intrusions in the form of batholiths, plutons or dikes are also noted all around the property. The property rests mainly on the rocks of the Chicobi Group. The sedimentary basin contains mudstones and graphitic turbiditic sandstones, with a minor magnetite-chert and hematite-jasper banded iron formation and a conglomerate. A significant Algoma-type iron formation is present in the northern part of the property. The gold grades intersected in the historic drilling are located near the southern contact of the latter. In addition, the Chicobi-Nord regional fault crosses the northern part of the property. This fault, of regional dimension, borders the Normetal mining camp to the south. The project is located in the eastern extension of this mining camp where there are former massive sulphide mines and numerous gold showings, such as those of the former Perron gold mine which are actively worked on by Amex Exploration. Shear zones parallel to the Chicobi-Nord fault are also found in the sediments of the Chicobi Group and as evidenced by the Authier gold showings located west of the property.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92033

VANCOUVER, BC, Aug. 4, 2021 /CNW/ – Trading resumes in:

Company: Jervois Mining Limited

TSX-Venture Symbol: JRV

All Issues: Yes

Resumption (ET): 9:00 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/August2021/04/c5943.html

Montreal, Quebec–(Newsfile Corp. – 4 août 2021) – Ressources Minières Vanstar Inc. (TSXV: VSR) (la « Société ») a le plaisir de faire le point sur ses activités d'exploration.

Nelligan

Le programme de forage d'été en cours est actuellement axé sur le programme de forages de définition. À ce jour, 5 sondages (1 600 m) ont été complétés et 5 à 10 autres sondages sont prévus dans cette zone. Une fois terminé, l'accent sera mis sur l'extension ouest en vue d'accroître la ressource.

Felix

La Société a conclu son analyse d'un levé de polarisation provoquée (PP) récemment réalisé sur la propriété Felix. Le levé PP s'est concentré sur une partie à l'ouest de la propriété là où il y a une formation de fer rubanée plissée (figure 1). Un certain nombre d'anomalies de chargeabilité ont été identifiées et elles sont coïncidentes aux conducteurs MEGATEM historiques. Par conséquent, la Société a raffiné son programme de forage sur la propriété (figure 2) et a l'intention de forer les cibles en septembre. Une foreuse a été sécurisée et les travaux préparatoires en cours.

Le levé PP a mis en évidence une anomalie conductrice en forme de pli coïncidant avec un pli interprété à partir du levé magnétique dans la formation de fer connue. L'anomalie conductrice IP est interprétée comme étant causée par des sulfures. Le levé magnétique a indiqué la présence d'un pli potentiel avec une diminution de la susceptibilité magnétique le long du flanc et de la charnière du pli. Cela a été interprété comme une possible sulfurisation de la formation de fer au faciès oxyde. L'anomalie conductrice IP semble corroborer cette interprétation. Il est bien connu que les gisements d'or dans les formations de fer sont souvent associés au plissement et à la sulfurisation. La mine Lupin dans les Territoires du Nord-Ouest est un exemple typique de ce type de gisement aurifère.

Figure 1: Zone du levé PP sur la propriété Felix

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8185/92035_0ae7b22ec40fb904_002full.jpg

Figure 2: Levé PP et sondages planifiés

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/8185/92035_0ae7b22ec40fb904_003full.jpg

Frida et Eva

L'entreprise mobilise une équipe sur place pour mener un programme de prospection et d'échantillonnage sur les projets Frida et Eva. Les travaux devraient être menés en septembre.

Mise à jour de l'entreprise

La Société a tenu son Assemblée Générale Annuelle (AGA) le 27 juillet 2021. Les membres du conseil d'administration suivants ont été élus :

• Victor Cantore

• Albert Contardi

• Wanda Cutler

• Claude Dufresne

• Jonathan Gagne

• Luc Gervais

A l'issue de l'AGA, Albert Contardi a été élu Président du Conseil d'Administration, Brunet Roy Dube Labone LLP a été nommé auditeur, et le plan d'options d'achat d'actions de la Société a été approuvé.

JC St. Amour, président et chef de la direction de Vanstar, a déclaré : « Du point de vue de la gouvernance d'entreprise, j'aimerais souligner que l'ensemble du Conseil est composé d'administrateurs indépendants. Je suis heureux de les accueillir et j'ai hâte de travailler ensemble au cours de l'année à venir. »

De plus, la Société annonce que le conseil d'administration a octroyé 2 625 000 options à des dirigeants, administrateurs et consultants de la société en vertu de son régime d'options d'achat d'actions. Les options peuvent être exercées pour une période de 5 ans au prix de 0,50 $ et sont acquises immédiatement.

À propos du projet Felix

Le projet Felix est situé dans un environnement d'origine volcanosédimentaire comprenant une unité de roche volcanique au nord, une autre au sud et la partie centrale est occupée par des roches sédimentaires. Des intrusions tardives sous forme de batholithes, de plutons ou de dykes sont également notées tout autour de la propriété. La propriété repose principalement sur les roches du Groupe de Chicobi. Le bassin sédimentaire contient des mudstones et des grès turbiditiques graphitiques, avec une formation mineure de fer rubanée magnétite-chert et hématite-jaspe et un conglomérat. Une importante formation de fer de type Algoma est présente dans la partie nord de la propriété. Les teneurs aurifères recoupées dans le forage historique sont situées près du contact sud de ce dernier. De plus, la faille régionale Chicobi-Nord traverse la partie nord de la propriété. Cette faille, de dimension régionale, borde le camp minier de Normétal au sud. Le projet est situé dans le prolongement est de ce camp minier où il y a d'anciennes mines de sulfures massifs et de nombreux indices d'or, comme ceux de l'ancienne mine d'or Perron sur lesquels Amex Exploration travaille activement. Des zones de cisaillement parallèles à la faille Chicobi-Nord se trouvent également dans les sédiments du Groupe de Chicobi comme en témoigne l'indice aurifère Authier situés à l'ouest de la propriété.

M. Gilles Laverdière, géologue-conseil et personne qualifiée en vertu du Règlement 43-101, a lu et approuvé le présent communiqué de presse.

À propos de Vanstar

Vanstar Mining Resources Inc. est une société d'exploration aurifère avec des propriétés dans le nord du Québec à différents stades de développement. La Société détient une participation de 25% dans le projet Nelligan (3,2 millions d'onces d'or inférées, NI 43-101 octobre 2019) et 1% NSR. Le projet Nelligan a remporté le prix « Découverte de l'année » lors du gala Xplor 2019 de l'Association d'exploration minière du Québec. Vanstar détient également 100% de la propriété Félix en développement dans le groupe de Chicobi (camp minier Abitibi, 65 km à l'est de la propriété Amex Perron) et 100% d'Amanda, une propriété de 7 306 ha située sur la formation Auclair avec des indices aurifères historiques titrant jusqu'à 12,1 g / t Au sur 3 mètres.

La Bourse de croissance TSX et son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent aucune responsabilité quant à la véracité ou l'exactitude de ce contenu.

SOURCE :

JC St-Amour
Président et PDG
+1 (647)-296-9871
jc@vanstarmining.com
www.vanstarmining.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92035

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, Aug. 3, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/37cWBqt

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Participating Companies:

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

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

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

SOURCE VirtualInvestorConferences.com

View original content: http://www.newswire.ca/en/releases/archive/August2021/03/c1698.html

QUÉBEC CITY, Aug. 03, 2021 (GLOBE NEWSWIRE) — Stelmine Canada (TSXV: STH) (“Stelmine” or the “Company”) is pleased to announce the discovery of a potentially large gold system at its Mercator Property spanning 389 sq. km in Quebec’s newest gold district (Caniapiscau) east of James Bay and the Eleonore mine. The Phase 1 summer 2021 exploration program, now in progress, includes geophysics and extensive sampling in preparation for potential maiden drilling during this second half of 2021.

Mercator is one of several district-scale claim blocks comprising 815 sq. km, owned 100% by the Company, in the under-explored Opinaca metasedimentary basin including the Courcy Property (100 km east of Mercator) where the last drill hole (completed by SOQUEM in 2006) returned a 42-meter core interval of shallow mineralization grading 4.2 g/t, including 1 meter at 101 g/t Au. Follow-up drilling at Courcy is also planned for the second half of the year.

Mercator Highlights:

• Never previously systematically explored, Mercator displays characteristics of a large-scale gold system with mineralization discovered in sediments and gabbros at surface along a 1.9 km trend of faulted and folded iron formations, open for significant expansion to the northeast and southwest;

• This minimum 1.9 km trend features a prominent gossan on the slopes of a hill where a 400-metre wide shallow dipping mineralized zone occurs within a magnetic high;

• Gold assays obtained to date reach up to 9.27 g/t Au with more than 12% of the 199 collected rock samples last year returning gold values ≥ 1 g/t, including a 9.4 m channel yielding 2.11 g/t Au;

• Hydrothermal fluid flow may have originated from an interpreted major thrust fault in the area;

• Preliminary analysis of a just-completed high resolution geophysics survey reveals a succession of magnetic highs extending NE/SW for 21 km, creating an impressive structural corridor considered highly favorable for hosting new discoveries.

Stelmine CEO Isabelle Proulx stated, “Our geological team is excited by the scale of Mercator and the potential for strong grades, as demonstrated by first-ever systematic sampling of this area in addition to historic drill results to the east at Courcy. Field crews continue their work and interpretations are ongoing. We look forward to updating investors again shortly.”

Project & Regional Map
Click here

June 2021 Private Placement Finder’s Fees Correction

Stelmine wishes to make a correction to the news release dated June 11, 2021, regarding finder’s fees. The last sentence of the final paragraph should have read, “In connection with this placement, the Company will pay finder’s fees of $25,048 and will issue 78,338 finder’s warrants.”

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Michel Boily, P.Geo., Ph.D. Mr. Boily is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Stelmine Canada

Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,574 claims or 815 km² in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.

Forward-looking statements

Certain information in this press release may contain forward-looking statements, such as statements regarding the expected closing of and the anticipated use of the proceeds from the Offering, acquisition and expansion plans, availability of quality acquisition opportunities, and growth of the Company. This information is based on current expectations and assumptions (including assumptions in connection with obtaining all necessary approvals for the Offering and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include those relating to the ability to complete the Offering on the terms described above. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Cautionary statement

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

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

For further information, contact:

Isabelle Proulx, President and CEO
Email: iproulx@stelmine.com
Tel: 418-626-6333

Follow us on: www.Stelmine.com
https://twitter.com/Stelmine1
https://www.facebook.com/StelmineCanada/
https://ca.linkedin.com/company/stelmine-canada-ltd

Copper Alloys Sales Up 31% Q/Q as the Division Undertakes a $5.5 Million Expansion

IBC’s Consolidated Revenue Jumps by 39% Q/Q

FRANKLIN, Ind., Aug. 03, 2021 (GLOBE NEWSWIRE) — IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to report that rising global demand for semiconductor chips is driving higher sales for beryllium-aluminum (“BeAl”) products used in the semiconductor manufacturing industry.

Preliminary, unaudited figures for the year ended June 30, 2021, show that unit sales of BeAl components for semiconductor manufacturing, produced by IBC’s Engineered Materials Division in Massachusetts, rose by approximately 115% and 78% in the quarter and year ended June 30, 2021. In the 12 months prior to June 30, 2021, unit sales of these components grew by approximately 793%.

Overall, Engineered Materials Division revenue increased to $3.2 million and $8.6 million, respectively, for the quarter and year ended June 30, 2021, representing increases of approximately 52% and 25% over the comparable prior-year periods. Gross margin for the Division for those periods was 16.2% and 26.7%, respectively.

“The current shortage of many semiconductor chips is creating real-world consequences for consumers around the world, given that these chips are used in everything from consumer electronics to 5G networks to vehicles to toothbrushes,” said Mark A. Smith, CEO and Chairman of IBC. “Not only is the current chip shortage driving global demand sharply higher, but long-term trends for semiconductor chip demand also point to robust growth.”

For example, the World Semiconductor Trade Statistics (“WSTS”) organization has forecast that annual global sales of chips will increase 19.7% in 2021 and 8.8% in 2022, growing to a US$573 billion global market.

“This is why IBC is working hard to continue expanding our beryllium-aluminum production capacity, both for the semiconductor industry and for our defense sector customers,” Mr. Smith said.

Copper Alloys Division Sales Also Trending Higher

IBC’s Copper Alloys Division also is seeing sales trending higher, Mr. Smith added, with revenue in the quarter ended June 30, 2021, rising to $3.9 million, a 31% jump over the quarter ended June 30, 2020, and a 19% sequential increase over the prior quarter. For the year ended June 30, 2021, Copper Alloy Division revenue was $13.2 million, which was 7.5% lower than FY2020 revenue, a result driven largely by the macroeconomic impacts of the COVID-19 pandemic. Gross margin for the Cooper Alloys Division in the quarter and year ended June 30, 2021, was 15.3% and 14.0%, respectively.

The Copper Alloy Division’s flagship production facility in Franklin, Ind. is currently undergoing a $5.5 million, 32,000-square-foot expansion. The project will allow the Company to consolidate current copper foundry operations at a plant in Pennsylvania into the Franklin plant. This expansion/consolidation project is expected to expand IBC's manufacturing capabilities as well as generate significant fixed cost savings.

Q/Q Consolidated Revenue Jumps by 39.3%

On a consolidated basis, IBC revenue in the quarter and year ended June 30, 2021, was $7.0 million and $21.8 million, respectively, which represented a 39.3% and 3.1% increase over the comparable prior-year periods, and a 30.1% sequential increase over the prior quarter. Consolidated gross margin for the quarter and year ended June 30, 2021, was 15.7% and 19.0%.

All figures reported above with respect to the fiscal quarter and year ended June 30, 2021, are preliminary and are unaudited and subject to change and adjustment as the Company prepares its consolidated financial statements for the quarter and year ended June 30, 2021. Accordingly, investors are cautioned not to place undue reliance on the foregoing information. The Company does not necessarily intend to provide preliminary results in the future. The preliminary results provided in this news release constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws, are based on several assumptions, and are subject to a number of risks and uncertainties. Actual results may differ materially.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark A. Smith”

Mark A. Smith, CEO & Chairman of the Board

CONTACTS:

Mark A. Smith, Chairman of the Board
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.

+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com

@IBCAdvanced $IB.TO $IAALF

ABOUT IBC ADVANCED ALLOYS CORP.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, and Pennsylvania. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

CAUTIONARY STATEMENTS

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This disclosure contains forward-looking statements, including those regarding expected financial results for the quarter and year ended June 30, 2021, expected growth in semiconductor chip demand and forecasts related to the annual global sales of chips. Forward-looking statements normally contain words like ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’ and similar expressions. Although IBC believes that the expectations reflected in these forward-looking statements are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statements will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings, including its Annual Information Form for the fiscal year ended June 30, 2020, available at www.sedar.com.

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, Aug. 2, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/37cWBqt

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Participating Companies:

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

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

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/green-energy–precious-metals-investor-conference-presentations-now-available-for-on-demand-viewing-301345875.html

SOURCE VirtualInvestorConferences.com

Every investor in Iluka Resources Limited (ASX:ILU) should be aware of the most powerful shareholder groups. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that used to be publicly owned tend to have lower insider ownership.

Iluka Resources is a pretty big company. It has a market capitalization of AU$4.2b. Normally institutions would own a significant portion of a company this size. Taking a look at our data on the ownership groups (below), it seems that institutions own shares in the company. We can zoom in on the different ownership groups, to learn more about Iluka Resources.

View our latest analysis for Iluka Resources

What Does The Institutional Ownership Tell Us About Iluka Resources?

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

Iluka Resources already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Iluka Resources' historic earnings and revenue below, but keep in mind there's always more to the story.

Iluka Resources is not owned by hedge funds. The company's largest shareholder is Yarra Capital Management, with ownership of 10%. With 6.8% and 6.2% of the shares outstanding respectively, BlackRock, Inc. and Aware Super Pty Ltd are the second and third largest shareholders.

Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Iluka Resources

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

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our data suggests that insiders own under 1% of Iluka Resources Limited in their own names. But they may have an indirect interest through a corporate structure that we haven't picked up on. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around AU$13m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.

General Public Ownership

The general public holds a 49% stake in Iluka Resources. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

Private Company Ownership

It seems that Private Companies own 6.7%, of the Iluka Resources stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Iluka Resources better, we need to consider many other factors. For instance, we've identified 1 warning sign for Iluka Resources that you should be aware of.

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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

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

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

VANCOUVER, British Columbia, July 30, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) provides the following corporate update. On July 15 and 16, 2021, the Supreme Court (British Columbia) heard Mr. Peter Smith’s application for an order that the annual general meeting ("AGM") of the Company be held on July 26, 2021, and for other relief. The judge dismissed the application for an order that the AGM be held on July 26, 2021, and reserved judgment on all other issues for two weeks. The Company was granted an extension by the BC Registry of Companies of the time within which to hold its AGM until December 30, 2021.

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.

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/20210730005548/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

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

THUNDER BAY, ON / ACCESSWIRE / July 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic"), is pleased to announce the closing of its previously announced non-brokered private placement offering (the "Private Placement") for aggregate gross proceeds of $1,450,000 in units of the Company (the "Units") at a price of $0.50 per Unit. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, subscribed for the entirety of the Private Placement.

Each Unit shall be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common (a "Warrant Share") at an exercise price equal to $0.75 at any time up to 36 months from closing of the Private Placement.

The Company intends to use the gross proceeds from the sale of Units for drilling and exploration on the Golden Promise Gold Properties, located in the central Newfoundland gold belt and general working capital.

The Common Shares and the Warrant Shares to be issued under the Offering have a hold period of four months and one day from closing of the Offering, November 28, 2021.

Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 2,900,000 units under the offering for approximate consideration of $1,450,000. Subsequent to the closing of the offering, Mr. Sprott beneficially owns or controls 4,900,000 common shares of the Company and 4,900,000 warrants, representing approximately 19.9% of the issued and outstanding common shares of the company on a non-diluted basis and approximately 33.2% of the issued and outstanding common shares of the company on a partially diluted basis assuming exercise of all the warrants owned and controlled, including warrants acquired hereunder and forming part of the units. Prior to the offering, Mr. Sprott beneficially owned or controlled 2,000,000 common shares and 2,000,000 warrants of the Company.

The units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Great Atlantic Resources, including on the open market or through private acquisitions, or sell securities of the company, including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.

A copy of Mr. Sprott's early warning report will appear on Great Atlantic's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).

In connection with the Private Placement, the Company paid a finder's fee in cash and finder's warrants in accordance with the policies of the TSX Venture Exchange.

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
604-488-3900 – Dir

Investor Relations:
Please call 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.

Forward-looking statements: 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 Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/657842/Great-Atlantic-Announces-Closing-of-145-Million-Private-Placement-by-Mr-Eric-Sprott

Vancouver, British Columbia–(Newsfile Corp. – July 30, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth"), reports, pursuant to its news releases dated June 21, 2021, May 25, 2021, June 11, 2021 and July 15, 2021 (the "Placement"), that it has closed a fourth and final tranche of the Placement. On July 30, 2021 the Company issued an additional 3,100,000 units for gross proceeds of $930,000. Each unit consists of one common share of the Company (a "Share") at $0.30 and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.45 per share.

The aggregate total shares issued pursuant to the financing in all tranches was 10,120,000 units for gross proceeds of $3,036,000.

Finder's fees associated with a portion of the final tranche close were paid to PI Financial Corp. representing $21,000 cash and 70,000 finder's warrants. The finder's warrants have the same terms as the subscribers however they are non-transferable.

All securities issued in the Placement are subject to a four-month hold period, during which time the securities may not be traded.

The net proceeds from the Offering are intended for general corporate purposes.

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

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial licenses package.

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

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

On Behalf of the Board of Directors ofWEALTH MINERALS LTD.

"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer

For further information, please contact: 

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

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

Cautionary Note Regarding Forward-Looking Statements

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91772.

Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce the addition of Dr Karsten Eden to the technical team, as an exclusive strategic advisor for the purpose of target generation related specifically to the Golden Promise Gold Project In Newfoundland.

"We look forward to working with Dr. Eden as we continue to advance and expand through drilling our current high grade Gold resource, while encompassing the multiple new gold discoveries we have identified with in our land package. Our aspirations are to become a world class deposit similar to our neighbour Marathon Resources MOZ.v located a few kilometers away," states Chris Anderson, CEO Great Atlantic Resources.

About Dr. Karsten Eden

Dr. Karsten Eden has over 25 years diverse international experience in the management of exploration and mine development projects in North America, West Africa, Western Australia, Scandinavia, and Europe. He has a successful track record in exploration targeting and extensive experience in complex exploration data analysis, mineral potential modeling, resource modeling and mineral economics. He holds a doctorate degree in exploration geology from the University of Technology Aachen, Germany and is a Certified Professional Geologist through the American Institute of Professional Geologists and the European Federation of Geologists.

Dr. Eden has held senior management, Chief Geologist, and VP Exploration positions with junior exploration companies as well as with government agencies. He was instrumental in numerous mineral discoveries, including gold, platinum group metals, antimony and industrial heavy minerals.

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 Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/657514/Great-Atlantic-Welcomes-Dr-Karsten-Eden-Strategic-Advisor-Target-Generation-Golden-Promise-Gold-Project

VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / Commerce Resources Corp. (TSXv:CCE, FSE:D7H0, OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to announce that it has collared its first drill hole of the 2021 field program at the Ashram Rare Earth and Fluorspar Deposit, located in northern Quebec. The program is being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB, with drilling operations being carried out by Logan Drilling Ltd. of Stewiacke, NS.

The Company has mobilized the drill rig to the Ashram Deposit ahead of schedule following the completion of several drill holes by Saville Resources at the Mallard and Miranna prospects, located within 1 km of Ashram, where Saville Resources holds an Option from the Company to earn up to a 75% interest. The overlap of the two programs is resulting in significant cost savings through shared drill rig mobilization, camp operation, and other mutual program support costs.

A total of 2,500 m of NQ size drilling over 15 to 20 holes is anticipated at the Ashram Deposit. The holes will target further delineation of the deposit, which remains open to the north and south, as well as target an increase in resource confidence from inferred/indicated to indicated/measured in areas where the neodymium-praseodymium ("NdPr") contents are highest. Depending on the location within the deposit, the NdPr distribution typical varies from 21-24+% with monazite being the dominant carrier of the rare earth elements ("REEs").

The Company continues to advance the core relog and geological model of the deposit, which will guide the drill program to meet its objectives. In addition to the drilling, the Company continues to collect remaining field data that is required for the Prefeasibility Study (PFS) and is planning to complete the remaining Qualified Person site visits later in the program. In parallel to the field and PFS 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 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, 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/657427/Commerce-Resources-Corp-Commences-Summer-Drill-Program-at-the-Ashram-Rare-Earth-and-Fluorspar-Deposit

Vancouver, British Columbia–(Newsfile Corp. – July 29, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces the appointment of Jürgen M. Geissinger to the Advisory Board. Mr. Geissinger is a renowned German automobile sector manager with a keen interest in current technological changes changing the face of the auto industry. Mr. Geissinger was Chief Executive Officer of Senvion S.A., a Hamburg based wind turbine manufacturer. Previously, he was also the CEO of Schaeffler AG, a German based supplier of bearing solutions and precision components for automotive and industrial applications. Under his tenure, Schaeffler AG grew sales 4 times to EUR14 billion. He was a leader in the consolidation of the German auto components industry with several high-profile corporate actions, including the acquisition of FAG Kugelfischer, a leading bearing manufacturing company, and Continental AG, a global tire manufacturer. By the time Mr. Geissinger left Schaeffler AG, it was the third-largest automotive supplier in the world.

Mr. Geissinger currently sits on the Board of MTU Aero Engines AG (50% owned by Daimler-Benz). He was also a board member of Continental AG and Swedish Manufacturing concern SANDVIK AB.

Hendrik van Alphen, CEO of Wealth, commented, "Mr. Geissinger is a tremendous addition to the Wealth team. He has the experience and contacts to raise the profile of our Company amongst the largest source of demand growth for lithium in the world, automobile manufacturers. We all look forward to working with him."

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial licenses package.

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

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

On Behalf of the Board of Directors ofWEALTH MINERALS LTD.

"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer

For further information, please contact: Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com

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

Cautionary Note Regarding Forward-Looking Statements

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91605

FRANKLIN, Ind., July 29, 2021 (GLOBE NEWSWIRE) — IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce new credit facilities (the “Credit Facilities”) of up to US$8,000,000 established pursuant to (a) a credit and security agreement (the “Credit Agreement”) among Iron Horse Credit, LLC and certain of the Company’s U.S. subsidiaries (the “Subsidiaries”) and (b) an account sale and purchase agreement (the “ASPA”) among Sallyport Commercial Finance, LLC and the Subsidiaries. The Credit Facilities replace the Company’s existing revolving credit facility with the Bank of Montreal.

Pursuant to the Credit Agreement, Iron Horse Credit, LLC will provide the Subsidiaries with a secured revolving credit facility of up to US$4,000,000. Pursuant to the ASPA, Sallyport Commercial Finance will provide the Subsidiaries with up to US$4,000,000 in advance purchase funding based on the sale of the Subsidiaries’ accounts receivable, with up to US$2,500,000 to be utilized in the near term, and the remaining US$1,500,000 to be utilized at the election of the Subsidiaries. The Subsidiaries will grant the lenders a senior security interest in their personal property assets, inventories and accounts receivables, subject to the terms of an intercreditor agreement.

IBC intends to use the proceeds of the Credit Facilities to advance the consolidation and modernization of the Company’s copper alloys manufacturing facility in Franklin, Indiana and for working capital purposes.

The Credit Agreement will accrue interest at a rate of 1.166% per month on outstanding amounts, with such interest compounded and payable monthly and has a maturity date of 12 months subject to further renewal. The ASPA will accrue interest at a rate of equal to the prevailing prime rate plus 2% per annum on outstanding amounts, with such interest compounded and payable monthly, as well as a factoring fee of up to 1% of account face value. The ASPA has an initial term of 12 months subject to further renewal.

Pursuant to the terms of the Credit Facilities, the Subsidiaries will pay aggregate fees totalling US$85,000 at close and an annual facility fee of US$60,000. The Credit Facilities are also subject to customary terms for similar credit arrangements in the United States manufacturing sector.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark Smith”

Mark Smith P.E., Esq. , Chairman

Contact:

Mark A. Smith, Chairman
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jsims@policycom.com

Website: www.ibcadvancedalloys.com

@IBCAdvanced $IB $IAALF #Beryllium #Beralcast

About IBC Advanced Alloys Corp.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast^® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

Cautionary Statements

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.

Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the use of proceeds of the Credit Facilities. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

Please see “Risks Factors” in our Annual Information Form available under the Company’s profile at www.sedar.com, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

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Lynas Corp. (LYSDY) : Free Stock Analysis Report
 
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VANCOUVER, BC / ACCESSWIRE / July 28, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") announces promising results from a recently-completed prospecting and soil sampling program at its wholly owned Alotta porphyry gold-copper-molybdenum project, which is located in the Dawson Range porphyry belt of southwestern Yukon (Figure 1). The Alotta project lies 40 km south of Western Copper and Gold's Casino porphyry project, which hosts a 2.4 billion tonne M&I resource⁽¹⁾ containing 7.6 billion pounds of copper (0.14%), 811 million pounds of molybdenum (0.017%) and 14.5 million ounces of gold (0.19 g/t). Rio Tinto recently invested $25.6 million in Western Copper and Gold to fund further work at the Casino Deposit.

The Alotta project is marked by a broad magnetic low that corresponds to a zone of high-level dykes, brecciation and pervasive phyllic and potassic alteration, which are developed within a portion of a large pluton mainly composed of magnetite-bearing, coarse-grained granodiorite. The magnetic low is the result of sulphide replacement of magnetite within the alteration zone (Figure 2).

The 2021 results build upon work that Strategic has done at Alotta over the past three summers. Positive results from successive programs prompted corresponding expansions to the claim block, and the property now totals 74 mineral claims encompassing over 1500 hectares. Collectively the soil geochemical sampling surveys have outlined a very large target that demonstrates classic porphyry zonation, with a 4200 m long by up to 1500 m wide core of strong copper and molybdenum values flanked by lead-zinc-silver anomalies. Highly elevated gold values, which reach a maximum of 2680 ppb, occur throughout the entire area of grid sampling and likely delineate the porphyry mineralization and fringing vein systems. The area of anomalous soil geochemistry closely coincides with the magnetic low (Figures 3 through 7).

The Alotta property is located in an unglaciated portion of Yukon, which is characterized by deep weathering. There is almost no outcrop on the property and most parts of it are well vegetated. Work by the Yukon Geological Survey has shown that residual soils in much of the Dawson Range are covered by a thick layer of eluvium and younger volcanic ash. These features, coupled with localized leaching of metals (particularly copper) from near surface rocks, often dampen the intensity of soil geochemical response and hamper prospecting and mapping. In spite of these limitations, soil sampling at Alotta has yielded highly prospective results and rock sampling has returned elevated gold values that are consistent with expected porphyry grades, including a 2021 sample that assayed 8.73 g/t gold (Figure 8).

No drilling or mechanized trenching has been done at the Alotta project. Now that the area of geochemically anomalous response has been outlined, Strategic believes that the next stage of exploration should consist of deep array induced polarization surveys, coupled with detailed magnetic and radiometric surveys. A maiden diamond drill program should be undertaken following comprehensive interpretation of geophysical, geochemical and geological data.

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

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 $8 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 $22 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/657324/Strategic-Metals-Delineates-Promising-Porphyry-Au-Cu-Mo-Prospect-at-Its-Alotta-Project-Yukon

Golden Promise Gold Project, Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / July 28 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR)(FSE:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has completed the third hole (GP-21-151) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Multiple veins with sulfide mineralization were intersected, one of which contains visible gold.

Quartz Vein with Visible Gold in GP-21-151

Drill hole GP-21-151 is a definition hole, drilled between drill holes GP-19-142B and GP-19-144. GP-19-144 intersected high grade gold mineralization within a quartz veined zone (61.35 g/t gold over 2.04 meters core length). GP-21-151 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 116 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-151 will be geologically logged and sampled at the Company's secure facility in central Newfoundland.

Multiple quartz veins were intersected in GP-21-151, some with sulfide mineralization. A 0.78-meter long (core length) quartz vein was intersected at 47.22-47.98 meters with visible gold. Drill core samples from GP-21-151 will be submitted to a certified laboratory for gold assay and multi-element analysis.

Drilling is underway on the third hole GP-21-152, which is also a definition hole in the western part of the JMZ.

The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling 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.

Quartz Vein with Visible Gold in GP-21-151

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.

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/657317/Great-Atlantic-Third-Drill-Hole-Completed-Visible-Gold-Intersected-in-One-Vein

Figure 1

La Peltrie Option location

MONTREAL, July 28, 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 geophysical program on the La Peltrie project, consisting of several induced polarization (“IP”) surveys covering new geochemical anomalies recently identified on the La Peltrie project.

This project, wholly owned by Midland and under option since July 2020 by Probe (see press release by Midland dated July 9, 2020), is located along the Lower Detour Fault southeast of Zone 58N held by Kirkland Lake Gold Ltd.

Pursuant to the option agreement, Probe issued 32,544 common shares to Midland for the second payment for a total value of $55,000 based on a 5-day weighted average price of $1.69 per share on the TSX Venture Exchange. In addition, exploration work totalling at least $500,000 will be completed by July 31, 2021, in order to fulfil the firm commitment for the first year of the agreement.

IP surveys totalling approximately 45 kilometres in three (3) grids of approximately 15 kilometres each will cover gold and/or copper geochemical anomalies located along the perimeter of a syntectonic intrusion. Pending the results of this work, a first drilling campaign in partnership with Probe will be planned to test the best targets identified.

The La Peltrie property is located approximately 25 kilometres southeast of the high-grade Lower Detour Zone 58N gold deposit held by Kirkland Lake Gold Ltd, which hosts indicated resources totalling 2.87 million tonnes at a grade of 5.8 g/t Au (534,300 oz Au) and inferred resources totalling 0.97 million tonnes at a grade of 4.35 g/t Au (136,100 oz Au) (Source: NI 43-101 report from Kirkland Lake Gold effective on December 31, 2020). It is also located proximal to the B26 deposit held by SOQUEM, where indicated resources are estimated at 6.97 million tonnes grading 1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43.0 g/t Ag, and inferred resources at 4.41 million tonnes grading 2.03% Cu, 0.22% Zn, 1.07 g/t Au and 9.0 g/t Ag (Source : NI 43101 report from SGS for SOQUEM effective on January 31, 2018). The La Peltrie property is also located 25 kilometres northwest of the former Selbaie mine, which historically produced 56.5 million tonnes of ore grading 1.9% Zn, 0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au.

Cautionary statement:

Mineralizations occurring at the Lower Detour Zone 58N, the B26 deposit and the former Selbaie mine are not necessarily indicative of mineralization that may be found on La Peltrie.

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.

Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f39f6772-4192-4ac3-95e5-0985b653126c

TORONTO, July 28, 2021 (GLOBE NEWSWIRE) — Probe Metals Inc. (TSX-V: PRB) (“Probe” or the "Company") is pleased to announce that it has completed the second payment (the “Second Payment”) due in consideration of a binding option agreement previously announced on July 9, 2020 (the “Agreement”) with Midland Exploration Inc. (“Midland”, TSXV: MD), whereby Probe may earn up to a 65% interest in the La Peltrie gold property (the “Property”). The details of the transaction are described in the Company’s press release dated July 9, 2020.

Pursuant to the Agreement, the Company issued 32,544 common shares to Midland for the second payment for a total value of $55,000 based on a 5-day weighted average price (VWAP) of $1.69 per share on the TSX Venture Exchange (the “Exchange”). In accordance with the applicable securities regulations and policies of the Exchange, the common shares issued to Midland pursuant to the transaction are subject to a statutory four month and a day hold period.

Probe has commenced ground geophysical programs on the La Peltrie property in preparation for upcoming drilling programs. Drills are currently turning on the Gaudet-Fenelon joint-venture property, with joint-venture partner Midland, on the eastern end of the Detour Project.

Probe’s Detour Quebec Project

The discovery stage Project covers an area of 777 square kilometres along the Detour Gold Trend, including the La Peltrie property option, the Gaudet-Fenelon JV property, the wholly owned Detour Quebec Main and North properties, and is located 190 kilometres north of Rouyn-Noranda and 40 kilometres northwest of the town of Matagami, Quebec, and hosts the Sunday Lake, Massicotte and Lower Detour Lake gold deformation zones (See Figure 1). Both the La Petrie option and Gaudet-Fenelon JV properties are in partnership with Midland Exploration Inc. The Project is located along the lateral extensions of Canada’s second largest gold mine at Detour Lake, operated by Kirkland Lake Gold Ltd., and recent high-grade gold discoveries in Zone 58N, Fenelon/Tabasco, Area 51 and Martiniere/Bug Lake made by Balmoral Resources Ltd. and subsequently their recent acquirer Wallbridge Mining Company Ltd. (TSX: WM) on their land package adjacent to the northern boundary of Probe’s property.

Qualified Person:
The technical content of this press release has been reviewed by Mr. Marco Gagnon, P.Geo, who is a “Qualified Person” within the meaning of NI 43-101, and Executive Vice-President and a director of Probe.

About Midland Exploration:
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 Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., 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.

About Probe Metals:
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. Eldorado Gold Corporation currently owns approximately 11.5% of the Company.

On behalf of Probe Metals Inc.,

Dr. David Palmer,
President & Chief Executive Officer

For further information:

Please visit our website at www.probemetals.com or contact:

Seema Sindwani
Director of Investor Relations
info@probemetals.com
+1.416.777.9467

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or 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”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Shares Issued: 130,563,431

New Bona and Vista Zone Discoveries Extend the Mineralized Treasure Shear Trend to 700 m

Vancouver, British Columbia–(Newsfile Corp. – July 26, 2021) – Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to provide an update on the ongoing prospecting, channel sampling and soil sampling designed to identify multiple additional drill targets on the Reliance Gold Property (the "Property") in southern British Columbia. The company is also pleased to announce that it has now signed a diamond drill contract with mobilization expected in August. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

The results of the exploration activity reported to date indicate the existence of multiple gold bearing shear zone features within an area encompassing 1,500 metres ("m") of strike, 450 m of horizontal width and over 750 m of vertical extent. To date, exploration has discovered and confirmed gold in drilling at the Eagle Zone, Imperial Zone, Diplomat Zone and the Treasure Prospect. Additional exploration and drilling is required to explore this large prospective area. The diamond drilling program is expected to commence in August but will likely involve multiple drilling campaigns to fully evaluate the gold bearing system.

Eagle Extension Soil Sampling

As reported on June 17, 2021, the furthest southeast reverse circulation drill intersections of the Eagle Zone include 9.87 grams per tonne gold ("gpt Au") over 7.62 m in RC21-040 and 8.95 gpt Au over 3.05 m in RC21-041. Thus, the Eagle Zone discovery in drilling remains open to expansion to the southeast. As reported on February 16, 2021, this area is also associated with a biogeochemical anomaly which extended the exploration potential of the Eagle Zone by another 400 m to the Upper Eagle target. To date in 2021, 151 soil/talus fine samples have been collected from the Eagle Extension through to the Upper Eagle target area and were analyzed at site by pXRF. A subset of 80 soil samples determined to be elevated in arsenic were shipped to ALS Minerals for gold analysis.

The results of these 80 selected soil samples extended the greater than 100 parts per billion ("ppb") gold-in-soil anomaly by 300 m to the southeast of the Eagle Zone drilling. Highlights include four (4) soil/talus fine samples which exceeded 1,000 ppb gold or 1.0 part per million ("ppm") gold. The location of the target areas and associated large soil anomaly are shown on the map below or available on the Company website.

Of particular encouragement are the results of the 3DIP geophysical survey completed in 2021 which have identified a chargeability anomaly that extends to the southeast into the Upper Eagle target area which is associated with the soil anomaly and Eagle Zone mineralization intersected in drilling. That IP chargeability anomaly also extends to the northwest into areas that remain to be explored with drilling.

When combined with the soil/talus fine gold results collected in 2020, the greater than 100 ppb gold-in-soil anomaly associated with the combined Royal Shear and Treasure Shear has been extended to 1.2 km strike and remains open to expansion along trend. Sixteen (16) soil/talus fine samples from combined 2020 and 2021 soil surveys have values that exceed 1.0 ppm gold-in-soil.

New Zones Identified at Bona and Vista

As reported on February 16, 2021, a biogeochemical anomaly was identified associated with the Treasure Shear Trend that indicates strike potential of approximately 1,400 m. As subsequently reported on May 27, 2021, gold was confirmed in bedrock with a drill intersection of 1.6 gpt Au over 6.10 m at the Treasure Prospect. As a result of this encouragement, a review of recently received LiDAR DEM images, prospecting and additional soil sampling was completed and has resulted in the identification of the Vista and Bona showings, two potentially gold-mineralized shear zones along the Treasure Shear trend. Assuming gold is confirmed in these shears, these zones extend the mineralized potential of the Treasure Shear to about 700 m in strike, remaining open to expansion in both directions. The location of the Bona and Vista Zones are shown on the map below or available on the Company website.

Vista Showing – The Vista gold showing was originally identified and reported in 1988 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered in four (4) spatially associated outcrops along historic road cuts. At the Vista Main Outcrop, fifteen (15) channel samples have been collected over 18.4 m of horizontal distance. In this outcrop, an observed shear zone dipping -50 degrees to the southwest exhibits strong orange ankerite and darker hematite alteration. The shear is hosted in a silicified basalt flow. The Vista West Outcrop is 11 m west of Vista Main Outcrop and, at this location, six (6) channel samples were collected over 8.5 m horizontal distance. The Main and West outcrops exposures with shear zones exposed are separated along the same roadcut by massive, blocky weathering, unmineralized basalt. The third outcrop with oxidized shearing is located 25 m to the northwest of Vista Main Outcrop, and the fourth outcrop associated with oxidized shearing is located 75 m to the northwest of Vista Main Outcrop. Further outcrop stripping and sampling is required to be completed at the third and fourth outcrops. At this time no gold assay results have been received for the Vista Showing but are expected in August.

Bona Showing – The Bona gold showing was originally identified and reported in 1985 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered. At the Bona Showing, a 7.3 m wide oxidized shear has been recently exposed in outcrop. Six (6) channel samples have now been collected over 10.36 m of horizontal distance. The strike and dip for this shear is unknown but is assumed to have a shallow to moderate dip to the southwest. The shear exhibits strong orange ankerite alteration with local wispy zones of reddish-brown oxidized hematite. At this time no gold assay results have been received for the Bona Showing but are expected in August.

Community Consultation and Engagement – The Company is proud of its efforts to engage and inform local communities, as well as employ local personnel and contractors as much as possible, including the First Nation communities. Engagement and dialogue are continuing with affected First Nation communities to determine opportunities for mutually beneficial participation. This outreach effort has resulted in the Company contracting Tsal'alh Development Corporation (TDC) to assist in providing personnel and contracting assistance with numerous aspects of our exploration program in 2020 and continuing in 2021. The planned diamond drilling activity may involve the excavation of additional drill trails and we are continuing with our engagement with affected First Nation communities to evaluate any impacts or concerns. In addition, we continue to engage other residents and local service providers located within the Upper Bridge River Valley to assist with our exploration program.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.

ENDURANCE GOLD CORPORATION

Robert T. Boyd

FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com

Soil samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were prepped and screened to -180 micron using method code SCR-41. Samples were then submitted for aqua regia digestion and analyzed for gold and other trace elements with an ICP-MS finish (method code AuME-TL43). Over limit samples returning greater than 1,000 ppb gold were re-analyzed by Au-AROR43 methodology.

RC samples summarized herein were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored. All RC samples have been submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold are re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb are re-analyzed by Sb-AA08 methodology.

The work program was supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.

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 news 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 factors beyond its control, and actual results may differ materially from the expected results.

July 26, 2021 Reliance soil sample map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4976/91161_481410b87431c856_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91161

By Tejaswi Marthi

(Reuters) -Australia's Lynas Rare Earths Ltd posted record quarterly revenue on Monday on the back of "very strong" demand for its range of specialized metals that offset softer prices, sending its shares to a more than eight-year high.

Lynas, the largest rare earths producer outside China, reported a jump in fourth-quarter revenue to A$185.9 million ($137 million), more than triple A$38 million a year earlier, pushing the stock up 9% to A$7.01, its highest since January 2013.

Demand for rare earth materials such as neodymium and praseodymium (NdPr) has rebounded from a pandemic-driven drop last year as electric vehicles continue to gain popularity amid a global push to reduce carbon emissions.

NdPr is also used in magnets for windfarms, gadgets like smartphones, and military equipment, and Lynas and other western producers stand to benefit from efforts by the United States to curb its reliance on China for the specialized minerals.

"Demand for Lynas products, in particular for our NdPr product family, continued to be very strong through the quarter, leading to record sales and cash collection," Chief Executive Officer Amanda Lacaze said in a statement.

Lacaze said a drop in prices during the quarter was due to a "normal correction after the sharp and speculative increases seen in the previous months" and added that prices had strengthened again in July.

Lynas produced 1,393 tonnes of NdPr in the quarter, up from 775 tonnes a year ago. Its full product range garnered an average selling price of A$39.1/kg, up from A$20.2/kg last year.

Lynas also said it had identified a second potential site in Malaysia to build a low-level radioactive waste disposal facility amid ongoing delays for clearance of an earlier site identified by the Pahang state government.

($1 = 1.3576 Australian dollars)

(Reporting by Tejaswi Marthi and Harish Sridharan, additional reporting by Shashwat Awasthi in Bengaluru; Editing by Sonya Hepinstall and Richard Pullin)

BEDFORD, NS / ACCESSWIRE / July 23, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE) is pleased to announce the continuation of its Phase 1 exploration drilling at the El Mezquite Au-Ag property ("El Mezquite" or the "Property"). The first seven (7) drill holes are complete and have been submitted to the laboratory, and Layne de Mexico has added a second drill to the Property to aim to complete the 2,475 metres of drilling by the end of next week.

"We are pleased that the arrival of a second drill at El Mezquite will allow Silver Spruce to complete our Phase 1 program by the end of July and permit all samples to be fully logged and submitted to the lab before the second week of August. The technical team has been expanded with additional geologists and samplers to expedite our progress," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "The program was delayed for four weeks in order to deal with equipment logistical issues during which we demobilized the team and drill."

Figure 1. Looking north across Pad M1 (MEZ001, MEZ-002, MEZ-003) at El Mezquite showing RC rig from Layne de Mexico drilling on a southerly azimuth at -45° dip angle

"The Phase 1 RC program comprises 20 holes with a combined depth of 2,475 metres (950 metres completed) and will utilize 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. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies," said Mr. Davison. "New targets also are developing from our ongoing geological, hyperspectral and LiDAR compilation, and incoming drill results."

The Company's first-ever drilling program at El Mezquite still is scheduled to be completed in July with samples submitted to ALS Global in Hermosillo on a weekly basis. Laboratory assay results were anticipated from two to six weeks after submittal. Customs clearance, courier transport logistics and laboratory workloads each have impacted the projected turnaround time for the assays. The data will be released once the final precious metal and multi-element results are in receipt and interpreted for the first seven (7) drill holes, and for the remaining thirteen (13) drill holes, and all of which will contribute to the program design for Phase 2 drilling after the summer rainy season.

Figure 2. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite.

El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 2).

Exploration Overview

The Company undertook an exploration program including environmental permitting for drilling, geological mapping of geologic structures and lineaments, ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS modeling, and a LiDAR survey. Ground truthing of the Au-Ag system with geological mapping and rock sampling was completed in three campaigns between July 2020 and March 2021. All aspects of the exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.

All current samples from the 2020-2021 programs were submitted to ALS Global for gold, multi-element and hyperspectral analysis. Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary multi-element and hyperspectral data over the Property database. The final batch of assay results are in receipt and pending GIS upload and interpretation.

LiDAR survey and satellite hyperspectral interpretation results were received recently and are being updated into the project GIS database.

RC Drill Program

The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT).

The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession. Individual holes are expected to reach depths of 100-200 metres to intersect the target intervals.

Land surface agreements were signed recently with three ranchers to facilitate full access to the Phase 1 collar locations.

Project Background

The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figures 2 and 3). High voltage power lines are positioned along Highway #16.

The El Mezquite Project is 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 (see Figure 3).

Geochemical Analysis, Quality Assurance and Quality Control

Drill chip sample splits are delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

The samples are crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits are transferred internally to ALS Global's North Vancouver analytical facility for gold and multi-element analysis. Pulps (50gram split) are submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24).

The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42).

Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals will be analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) are inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples are reviewed by the Company's QP and evaluated for acceptable tolerances.

All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

Figure 3. Location Map of El Mezquite Property and Mines of the Sierra Madre Occidental

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite Project 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 ("NI 43-101"), under TSX guidelines.

About Layne de Mexico

Layne Mineral Services, a Granite Company, is one of the largest providers of drilling services in the Americas, and its Mexican subsidiary, Layne de Mexico, has its equipment and technical team based in Hermosillo, Sonora, Mexico.

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 pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres 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 and Director
(902) 402-0388
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/656782/Silver-Spruce-Provides-Update-on-Phase-1-Drilling-and-Layne-de-Mexico-adds-2nd-Drill-at-El-Mezquite-Au-Ag-Project-Sonora-Mexico

VANCOUVER, British Columbia, July 23, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to announce the signing of a non-binding letter of intent (“LOI”) with Australian private company ACDC Metals Pty Ltd (“ACDC”) to form a partnership to utilize Medallion’s proprietary process to extract rare earth elements from monazite (the “Medallion Monazite Process”) in southeastern Australia.

The Medallion Monazite Process is a proprietary method that enables sustainable extraction of rare earth elements (“REE”) from mineral sand monazite. Monazite is a rare earth phosphate mineral globally available as a by-product from heavy mineral sand mining operations. Medallion recently published the positive findings of a Techno-Economic Assessment (“TEA”) which provides the engineering and economic foundation for commercializing the Medallion Monazite Process. This includes seeking both operational and licencing opportunities with qualified partners in mineral sand monazite rich jurisdictions.

ACDC is securing the right to acquire three historical non JORC/NI43-101 compliant mineral sand resource properties and other exploration assets in Victoria (Australia), to potentially underpin a supply of monazite suitable for the Medallion Monazite Process. ACDC is planning to complete an Initial Public Offering (“IPO”) upon the Australian Stock Exchange (“ASX”) within 12 months.

ACDC Managing Director Mr. Andrew Shearer commented, “ACDC recognizes the potential value add available to shareholders and stakeholders by the extraction of rare earth elements from mineral sand monazite. In partnering with Medallion Resources, we believe we have accessed the right technology at the right time, allowing us to be fast to market as REE prices rise and the market expands. We are excited to play a role to improve supply security and reduce environmental impact of rare earth element production.”

“We are very pleased to have signed this LOI with ACDC so soon after completion of the TEA,” said Mark Saxon, President and CEO. “ACDC is acquiring monazite-rich mineral sand resources in the Murray Basin, one of the world’s premier mineral sand provinces. By bringing together these resources with Medallion’s processing technology we see a great synergy to produce REEs. The Medallion Monazite Process and LAD Chromatography provides the opportunity for maximum value add while minimizing environmental footprint of REE extraction and separation.”

The LOI outlines various terms and conditions that will form the basis of a binding contract (the “Binding Contract”) that will be executed by the parties, subject to mutual due diligence. The LOI provides ACDC with the exclusive right to construct a mineral sand monazite refinery in southeastern Australia utilizing the Medallion Monazite Process, and the right to sub-license the Ligand Assisted Displacement (“LAD”) Chromatography process for REE separation.

In compensation, Medallion shall receive a significant allocation of pre-IPO shares of ACDC, transferable rights to contribute funding to ACDC at seed and IPO stages, milestone payments and a royalty on successful operation of the refinery. Medallion will issue additional press releases related to the final legal and commercial structure within the Binding Contract as it becomes available. The Binding Contract is subject to regulatory approval. Investors are cautioned that the LOI is non-binding, and there is no guarantee that the parties will enter into the Binding Contract, or that the transactions contemplated in this press release will be completed.

All information contained in this news release with respect to ACDC Metals Pty Ltd was supplied by ACDC Metals Pty Ltd for inclusion in this press release, and Medallion Resources Ltd and its directors and officers do not take responsibility for such information.

About Medallion Resources

Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third party REE producers.

REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. Medallion utilizes Life Cycle Assessment methodology to support investment and process decision making.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO
+1.604.681.9558 or info@medallionresources.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.

Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to entering into the Binding Contract, and licensing the Medallion Monazite Process to ACDC. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required pursuant to applicable laws.