TORONTO, Oct. 5, 2021 /CNW/ – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the "Company") is pleased to announce results from underground drilling at the Platosa Mine in Durango, Mexico.

Highlights

• Further high-grade results from the 623, NE-1S, and Guadalupe South mantos, with diamond drilling results from underground including:

• Underground drilling continues to define and delineate mineralization for 2021 and 2022 production; and

• Potential new zone of high-grade mineralization discovered in EX21UG690 below historically mined zone in Guadalupe South, with upcoming drilling to test vertical attitude and extent.

"Drilling at Platosa continues to define high-grade mineralization ahead of production," stated Ben Pullinger, Senior Vice President Geology & Corporate Development. "With EX21UG690, we have potentially discovered a new zone of very high-grade mineralization sitting below the historically mined upper part of the 623 Manto. This mineralization is located approximately 80 metres above the deepest current development heading and appears to have a vertical attitude that was not tested in historical drilling. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign."

Exploration Results

The following table shows highlighted intervals from the current definition and infill program being conducted from underground at Platosa:

Drilling from underground continues to define and expand known mineralization ahead of production at the 623 and NE-1S mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings.

EX21UG690 is particularly noteworthy, as high-grade mineralization was intersected approximately 10 metres below historically mined mineralization at the top of the 623 Manto, approximately 80 metres above the deepest current heading at Platosa. This mineralization appears to have a sub-vertical bearing that is different from the predominantly horizontal bearing of mineralization at Platosa. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign, with preparation underway for a more optimal drilling location.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited to ISO/IEC 17025. Assay turnarounds have been impacted recently by supply and labour shortages related to COVID-19. The Company has a comprehensive QA/QC program, supervised by an independent Qualified Person.

The sampling of, and assay data from, the core sampling and reporting is monitored through a quality assurance and quality control (QAQC) program designed according to best industry practice. Samples from HQ sized drill core are selected by Excellon geologists and cut into halves at the project site. Half of the core is retained at the site for reference purposes. Sample intervals vary from 0.3 to 1.5 metres in length with samples being selected to honour geological contacts. Samples are labeled and packed into sealed plastic bags which are grouped into larger fiber bags for shipping. A formal chain-of-custody procedure is in place for security of samples from project to laboratory.

Samples are shipped to SGS Laboratories in Durango City. Samples then undergo crushing to two millimetres followed by pulverizing to homogenize samples before a 50-gram sub sample is selected for analysis. The samples are then analyzed using fire assay for gold and silver with a gravimetric finish and multi-element analysis performed by ICP analysis for base metals and multi-element data.

Qualified Person

Mr. Ben Pullinger, P.Geo., Senior Vice President Geology & Corporate Development, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information contained in this press release.

About Excellon

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality advanced exploration gold project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The Company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

Additional details on Excellon's properties are available at www.excellonresources.com.

Forward-Looking Statements

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding mineral resources estimates, the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. 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, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Cautionary Note to U.S. Investors: The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used on Excellon's website and in its press releases are Canadian mining terms that are defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms are not defined terms under United States Securities and Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws. U.S. investors are urged to consider closely the disclosure in the Company's Form 40-F which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

SOURCE Excellon Resources Inc.

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Fortuna Silver Mines Inc. FSM recently announced that its board of directors has provided a go-ahead for the construction of an open pit mine at the Séguéla gold project in Côte d’Ivoire. This will be the company’s fifth operating mine with first gold expected by mid-2023. It is anticipated to produce around 120,000 ounces of gold per year.

The Séguéla gold Project was added to Fortuna Silver’s portfolio when it completed the acquisition of Roxgold Inc. in July this year. Prior to the combination with Roxgold, Fortuna Silver had three mines — San Jose mine in Mexico, Lindero Mine in Argentina and Caylloma Mine in Peru. It now has operations in West Africa with the addition of Roxgold’s high-grade Yaramoko Gold Mine located in Burkina Faso and its advanced development project Séguéla Gold Project.

The Séguéla Project calls for an initial capital investment of $173.5 million. Of this, $11.5 million has been approved by the board for early works items. The company intends to commence construction immediately with long lead items procured, and development teams established on the ground. The anticipated construction schedule is around 20 months.

Concurrent with construction, the company plans to continue with well-funded drill programs to test multiple remaining targets on the Séguéla property. It is worth mentioning that over the last 12 months, the exploration team has successfully delivered gold discoveries at the Koula, Sunbird and Gabbro North prospects. Overall, the mine is expected to produce 1,028,000 ounces of gold through its expected life of around nine years. In the initial six years, the projected gold output is expected at 130,000 ounces.

The combination of Fortuna Silver and Roxgold resulted in a low-cost intermediate gold and silver producer with four operating mines in Americas and West Africa — two of the world’s fastest growing precious metals producing regions. The combined company has a projected annual gold equivalent production profile of approximately 450,000 ounces, which is expected to increase further once the Séguéla comes online. Roxgold’s Yaramoko and Séguéla are low-cost assets with low technical complexity, which will drive meaningful growth, while reducing overall costs. Fortuna Silver’s All-In Sustaining Cost is projected at approximately $950 per gold equivalent ounce, lower than nearest peers.

A strong balance sheet will enable the company to pursue other organic and external growth opportunities. The combined company will have a projected EBITDA of around $487 million in 2021 and free cash flow of $211 million. Over the 2021-2023 period, the company is expected to generate pro forma average annual EBITDA of more than $500 million. Silver will continue to be a meaningful contributor to revenues.

Price Performance

Image Source: Zacks Investment Research

Shares of the company have fallen 40.2% over the past year compared with the industry’s decline of 22.4%.

Zacks Rank & Stocks to Consider

Fortuna Silver currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space include Veritiv Corporation VRTV, Nucor Corporation NUE and Teck Resources Ltd. TECK. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Veritiv has a projected earnings growth rate of 214.9% for the current year. The company’s shares have surged a whopping 542% in a year.

Nucor has a projected earnings growth rate of roughly 534.4% for the current year. The company’s shares have rallied 107% in a year.

Teck Resources has a projected earnings growth rate of 305.3% for the current year. The company’s shares have appreciated 81% in a year.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (the “Company”) (SBB – TSX/SGSVF – OTCQX) is pleased to announce that it has closed the previously announced private placement (the “Offering”) of 7,200,822 flow-through common shares of the Company (the “FT Shares”) which were sold at a price of $1.87 per FT Share to raise gross proceeds of $13,465,576.

An amount equal to the gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses (“CEE”) that will qualify as “flow through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures”), and which will be renounced with an effective date no later than December 31, 2021 to the subscribers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. The total gross proceeds from the Offering must be used to incur CEE by December 31, 2022.

The FT Shares issued under the Offering are subject to a hold period of four months and one day from the date hereof in accordance with applicable Canadian Securities laws.

Additionally, pursuant to the Shareholder Agreement between the Company and Zhaojin International Mining Co., Ltd., Zhaojin elected to maintain its 9.9% holdings in Sabina wherein it will purchase, by private placement, 892,903 Common Shares of the Company at C$1.50 per Common Share for gross proceeds of approximately $1.3 million. The Zhaojin private placement is expected to close on or about October 8, 2021. Sabina acknowledges and appreciates Zhaojin’s continued support since becoming a shareholder in 2017.

SABINA GOLD & SILVER CORP

Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.

Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV_5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

For further information please contact:

1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Figure 1

Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.

Figure 2

Location of Midas North Project and other Headwater Gold Nevada projects.

Figure 3

Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at the surface.

Figure 4

Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.

Figure 5

Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.

VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) — Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announce the Company has acquired the Midas North gold-silver project (the “Project” or “Property”) in northern Nevada through claim staking.

Summary Highlights:

• Company has acquired a 100% interest in a large, undrilled epithermal alteration cell immediately north of and adjoining Hecla Mining Company’s (“Hecla”) (NYSE: HL) Midas mine;

• Widespread sinter, water table silica, and clay alteration infers a fully preserved epithermal system is present;

• Analogous geologic setting to Hecla’s Midas mine and the recent Green Racer Sinter vein discovery, where gold grades of 111.8 grams per tonne (“g/t”) and silver grades of 490 g/t Ag were intercepted over a drilled thickness of 1.4 metres (see Hecla news release dated February 18, 2021) ⁽¹⁾;

• Widespread areas of highly anomalous mercury geochemistry, which is one of the key pathfinder elements for epithermal vein exploration; and

• The Project was acquired through the staking of 199 unpatented claims on open Bureau of Land Management (“BLM”) land and is 100% owned and royalty-free.

Figure 1: Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.
https://www.globenewswire.com/NewsRoom/AttachmentNg/58c732ff-f04c-4892-bdb5-da55ebb2eccb

Caleb Stroup, Headwater’s President and CEO, commented: “It is very rare to have the opportunity to stake such a large, untested epithermal alteration cell in a prolific high-grade Nevada mining district. The Midas mine complex immediately to the south serves as clear geologic analog, with over two million ounces of gold and over 25 million ounces of silver historically produced from high-grade epithermal veins at Midas between 1998 and 2019^{(1, 2)} by operators such as Franco-Nevada, Newmont and Hecla. The Midas North project has all the components we look for when targeting large, blind, high-grade epithermal veins. Hecla’s impressive Green Racer Sinter discovery announced earlier this year demonstrates that, despite a long history of mining, this district remains highly prospective and under-explored.”

Figure 2: Location of Midas North Project and other Headwater Gold Nevada projects.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3ebf2519-1e5c-4440-83b7-2250616524b5

About the Midas District:

The Midas North project is located in the Midas District of northern Nevada, approximately 100 kilometres north of the town of Winnemucca and directly adjoins Hecla Mining’s Midas mine complex. In 1994 an array of high-grade banded epithermal veins were discovered and historic production from the Midas mine was initiated by Franco-Nevada Corporation in 1998, with historic reserves of 2.46 million tonnes at a grade of 38.2 g/t Au^(1),(2). Mining continued until 2019 when Hecla elected to temporarily halt production as a result of decreasing head grade. Existing infrastructure at the Midas mine includes a 1,200 ton per day mill, several production water wells, high voltage power, and a fleet of underground mining equipment.

Mineralization in the Midas area is related to mid-Miocene bimodal volcanism associated with the Northern Nevada Rift and is analogous to high-grade low-sulfidation epithermal veins in Northern Nevada including Sleeper, Fire Creek, and Hollister. Gold and silver mineralization in the Midas district typically occurs in sub-vertical banded low-sulfidation epithermal vein arrays, the most significant being the Colorado Grande vein in the central Midas mine area.

In February 2021, Hecla announced the discovery of a new high-grade vein system in a previously undrilled area, approximately 3 km southeast of the main mine area. This new discovery is reported to occur beneath a mapped exposure of geyserite sinter which was correctly identified as a surface venting feature of an epithermal vein system. This discovery highlights the potential for future exploration in the greater Midas district, targeting blind veins beneath widespread high-level epithermal alteration.

Figure 3: Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at surface.
https://www.globenewswire.com/NewsRoom/AttachmentNg/b5e4476a-03ed-4f07-8765-bd2fdbd3a817

About the Midas North Project:

Headwater’s Midas North project area covers a large hydrothermal alteration cell, extending at least 4 kilometres in strike and 1 kilometre in width, which is interpreted by Headwater geologists as representing the high-level manifestations of an epithermal precious metal system. This system occurs approximately 10 kilometres along strike north of the Midas mine. The Headwater Project consists of 199 unpatented mining claims on BLM land and covers approximately 1,530 hectares.

Figure 4: Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1858a7c-f03c-4881-8124-36804b1ed5b9

Two priority target areas have been identified by Headwater geologists in the field: the Nevada Grande target and Big Opal target areas (Figure 4), both of which exhibit widespread high-level chalcedonic to opaline silica flooding, clay alteration, and local sinter formation. The Nevada Grande target area consists of a ridge forming, linear zone of chalcedonic and opaline silicification over an approximately 1 km strike extent, interpreted to be the high-level manifestations of a potential epithermal feeder structure. The Big Opal target area consists of a widespread zone of sub-horizontal opaline and chalcedonic silica flooding, with localized occurrences of interpreted near-vent sinter facies, such as fossilized geyser vents (Figure 5). To date, 90 rock chip samples and 54 stream sediment samples have been collected by the Company from the Project area. This limited initial sampling as already highlighted several priority areas of anomalous precious metal values, with highly anomalous values of important epithermal pathfinder elements, such as mercury.

The Project area has seen very limited historic exploration. Although the Project was reportedly staked by Newmont Corporation in the past, Headwater is not aware of any historic exploration drilling on the property. Headwater geologists are currently planning an expanded multi-disciplinary surface exploration program which will be carried out in late 2021 and into 2022 with a goal of identifying additional high-priority drill targets. This program is expected to include detailed geologic mapping, rock chip sampling, systematic soil sampling, airborne magnetics, airborne radiometrics, and ground based resistivity profiles.

Figure 5: Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1aad06b-e571-49d0-9b93-9be2b56d2329

Update on Other Exploration Activities:

Spring Peak Project

Assays from five holes are pending from the Spring Peak drill program, which was completed earlier this month (see news release dated September 15, 2021). The Company expects assay results some time during the second half of October.

Highland Project

The Company has received assay results from the Highland drill program which was completed in early August (see news release dated August 10, 2021). No significant high-grade vein intercepts were encountered in the initial seven-hole program. The Company believes the high-priority targets in the district have been adequately tested and the underlying property owner has been notified of Headwater’s intention to terminate its option agreement. The decision to terminate the option is in-line with the Company’s disciplined exploration strategy of pursuing high-impact discoveries by testing high-quality targets as quickly and cost-effectively as possible.

Mahogany and Katey Projects

Federal and state drill permits have been received for the Company’s 100% owned Katey and Mahogany Projects in eastern Oregon. A Boart Longyear diamond drill rig is scheduled to mobilize to the Mahogany Project in mid-October, where the focus will be testing multiple vein targets along the Main Ridge Fault zone, which locally contains high-grade gold values in surface sampling, up to 170 g/t Au. Following the conclusion of drilling at Mahogany, the rig is scheduled to move to the Katey Project.

Sample Quality Control:

Drilling at Highland was conducted by Boart Longyear using a wheel-mounted reverse circulation drill rig. The drill chips were logged on site and at Company offices in Reno, Nevada. Drilling totalled 2,097 metres, and 1,376 original samples were collected. Samples were transported from site to American Assay Laboratories (“AAL”), located in Sparks, Nevada by American Assay personnel. Prior to dispatch, samples were placed in numbered bags with regular insertion of blind internationally certified reference materials, blanks, or a sample duplicate. American Assay Laboratories are an accredited analytical laboratory meeting ISO/IEC 17025:2017 and AC89 IAS requirements. Samples were prepared by standard AAL crushing and grinding methods. The pulps were then assayed for 21 elements via AAL method ICP-2AM21 using a 0.5 g sample after a two acid near total digest with an ICP-OES/MS finish. Gold was assayed by fire assay using AAL method FA-Pb30 using a 30g sample charge and ICP-OES finish. Laboratory standards and QA-QC are monitored by the Company.

About Headwater Gold:

Headwater Gold Inc. is a technically-driven mineral exploration company focused on exploring for high-grade precious metal deposits in the Western USA. Headwater is aggressively exploring one of the most well-endowed and mining-friendly jurisdictions in the world with a goal of making world-class precious metal discoveries. Headwater has a large portfolio of epithermal vein exploration projects, and a technical team composed of experienced geologists with diverse capital markets, junior company, and major mining company experience. The Company is systematically drill testing several of its 100% owned projects in Nevada, Idaho, and Oregon.

For more information, please visit the Company's website at www.headwatergold.com.

On Behalf of the Board of Directors

"Caleb Stroup"
President & CEO

For further information, please contact:

Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
bzerb@headwatergold.com

Qualified Person
The technical information contained in this news release has been reviewed and approved by Mr. Derrick Strickland, P.Geo. (1000315), a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

1. The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties. Historical resource estimates are treated by the Company as historical in nature, and not current.

2. Goldstrand, P.M., and Schmidt, K.W., 2000, Geology, mineralization, and ore controls at the Ken Snyder gold-silver mine, Elko County, Nevada, in Cluer, J.K., Price, J.G., Struhsacker, E.M., Hardyman, R.F., and Morris, C.L., eds., Geology and Ore Deposits 2000: The Great Basin and Beyond: Geological Society of Nevada Symposium Proceedings, May 15-18, 2000, p. 265-287.

Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, 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. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated May 26, 2021 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.

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, except as otherwise required by law.

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

About Red Pine Exploration Inc.

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

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

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

Or contact:

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

Or

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

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

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

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

VANCOUVER, BC / ACCESSWIRE / October 1, 2021 / CMC Metals Ltd. (TSXV:CMB)(FSE:ZM5N)(OTC PINK:CMCZF); (the "Company") is pleased to announce that it has adopted an advance notice policy (the "Advance Notice Policy"), establishing a framework for advance notice of nominations of directors by shareholders of the Company.

The Advance Notice Policy, among other things, seeks to fix a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or certain special meetings of shareholders and sets forth the information required to be provided by a nominee director that a shareholder must include in the notice to the Company for the notice to be in proper written form.

The Advance Notice Policy is intended to, among other things: (i) facilitate an orderly and efficient Annual General or Special Meeting process; (ii) ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominations; and (iii) allow shareholders to cast an informed vote after having been afforded reasonable time for consideration.

The following notice requirements will apply for all Annual General or Special Meetings of shareholders of the Company:

• In the case of an annual meeting of shareholders, notice of a director nomination must be given to the Company not less than 30 nor more than 65 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is called for a date that is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the tenth (10th) day following the Notice Date.

• In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors (whether or not called for other purposes), notice of a director nomination must be given to the Company no later than the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

• The Advance Notice Policy is effective immediately and will be placed before shareholders for ratification and approval at the Company's next annual general and special meeting of shareholders (scheduled for December 7, 2021). In the event that shareholders determine not to ratify the Advance Notice Policy by ordinary resolution, the Advance Notice Policy shall terminate and be void and of no further force and effect following the termination of the Meeting.

A copy of the Advance Notice Policy, in its entirety, is available under the Company's profile at www.sedar.com and included in www.cmcmetals.ca.

About CMC Metals.

CMC Metals Ltd. is a growth stage mineral exploration company focused on opportunities in Yukon, British Columbia and Newfoundland. Our silver-lead-zinc projects include Silver Hart, Blue Heaven and the Rancheria South Properties (Rancheria South, Silverknife and Amy). Our polymetallic projects with gold potential include Logjam, Bridal Veil and Terra Nova.

On behalf of the Board:

John Bossio

John Bossio,
Chairman CMC METALS LTD.

For Further Information and Investor Inquiries:

Kevin Brewer, P. Geo., MBA, B.Sc Hons, Dip. Eng
President, CEO and Director
Tel: (604) 670 0019
kbrewer80@hotmail.com
Suite 110-175 Victory Ship Way
North Vancouver, BC
V7L 0B2

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca. Also please visit our website at www.cmcmetals.ca for more up-to-date news and information on our projects.

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 certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE: CMC Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/666369/CMC-Metals-Ltd-Adopts-Advanced-Notice-Policy

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

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

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

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

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

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

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

About GRC:

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

Contacts:

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

SOURCE: Gold Resource Corporation

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

TSX: SVM
NYSE American: SVM

VANCOUVER, BC, Sept. 30, 2021 /PRNewswire/ – Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report on innovative water treatment initiatives undertaken at the Company's mines. Silvercorp strives to create "Green Mines" and pursue sustainable development initiatives throughout the mining lifecycle by integrating efficient technology and innovative systems into mine planning and ESG management practices, including in the area of water usage, a key topic for the mining industry. Silvercorp recycles and integrates treated water from its mines for use in its processing plants, dust suppression, landscaping, agriculture, and irrigation, to meet its goal of reducing freshwater consumption.

Upgraded Water Treatment Plant – SGX Mine at the Ying Mining District

Prior to the SGX Water Treatment Plant upgrade, wastewater from the SGX and HPG mines was treated with a series of precipitation ponds and manual clean up. The treated water was then transported via a 16.5 km long pipeline to the Company's central processing mill to be used in ore processing.

In November 2020, Silvercorp worked with Henan University of Science and Technology (HAUST) to implement an innovative technology to treat water from underground mines, with an investment of approximately US$0.5 million. The water treatment plant was completed in May 2021 – please see Figure 1 below. The new plant is operated through an automated control system, including a reagent mixing tank, thickening tank, precipitated materials dewatering device, and other more efficient facilities (see Figures 2 & 3) for solid waste material collection and handling. The water after treatment surpasses the standard limits as required by the Chinese national environmental law on prevention and control of water pollution, protecting surface water quality and human health, and maintaining a sound ecosystem under the Environmental Quality Standards for Surface Water (GB3838-2002).

The treated water pumped though the 16.5 km pipeline is not only used for ore processing in the mill, it can now also be used for irrigation via a newly constructed pipeline system for local farmers. The dewatered solid wastes are shipped to the mill to recover useful metals, further showing Silvercorp's firm commitment to sustainable development practices and the reduction of waste generation.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca

CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: social and economic impacts of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-to-highlight-innovative-water-treatment-initiatives-in-upcoming-annual-sustainability-report-301389225.html

SOURCE Silvercorp Metals Inc

How far off is Hecla Mining Company (NYSE:HL) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the forecast future cash flows of the company and discounting them back to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

View our latest analysis for Hecla Mining

The model

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$1.1b

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.0%. We discount the terminal cash flows to today's value at a cost of equity of 6.9%.

Terminal Value (TV)= FCF₂₀₃₁ × (1 + g) ÷ (r – g) = US$135m× (1 + 2.0%) ÷ (6.9%– 2.0%) = US$2.8b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$2.8b÷ ( 1 + 6.9%)¹⁰= US$1.4b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$2.5b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$5.5, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

The assumptions

The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Hecla Mining as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.9%, which is based on a levered beta of 1.137. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Next Steps:

Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Hecla Mining, we've put together three further aspects you should look at:

1. Risks: Take risks, for example – Hecla Mining has 2 warning signs we think you should be aware of.

2. Future Earnings: How does HL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here.

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

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

VANCOUVER, BC / ACCESSWIRE / September 30, 2021 / Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven" or the "Company") announces the closing of the private placement announced by news release dated September 8, 2021. The private placement consisted of the sale of 15,000,000 common shares at a price of $0.11 per share, for gross proceeds of $1,650,000, which will be used for working capital purposes. All securities issued pursuant to the closing of this private placement are subject to a hold period in Canada until January 25, 2022.

Strategic Metals Ltd. ("Strategic") subscribed for 600,000 shares for subscription proceeds of $66,000. As a result of this subscription, Strategic increased its holdings in Rockhaven to 70,370,212 shares, representing 31.55% of Rockhaven's currently issued and outstanding share capital. A private company controlled by W. Douglas Eaton, who is a Director of Rockhaven, subscribed for 500,000 shares for subscription proceeds of $55,000, increasing its holdings in Rockhaven to 15,380,000 shares, representing 6.89% of Rockhaven's currently issued and outstanding share capital. Condire Resource Master Partnership, LP subscribed for 1,000,000 shares for subscription proceeds of $110,000, increasing its holdings in Rockhaven to 39,279,000 shares, representing 17.61% of Rockhaven's currently issued and outstanding share capital. In respect of these subscriptions, Rockhaven has relied on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5 and 5.7 of Multilateral Instrument 61-101, respectively.

About Rockhaven
Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. Rockhaven has completed a mineral resource estimate and a preliminary economic assessment on the Klaza deposit (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada" which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com).

Matthew Turner
President, CEO and Director

Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.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.

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Rockhaven cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the control of Rockhaven. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, the ability of Rockhaven to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in Rockhaven's financial statements available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Rockhaven undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: Rockhaven Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/666160/Rockhaven-Resources-Ltd-Closes-Private-Placement

TORONTO, Sept. 29, 2021 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report that William (Bill) Shaver, P. Eng., has been appointed to the Board of Directors effective immediately.

Mr. Shaver is a seasoned mining executive with over 50 years of management and executive experience in all facets of mine design, construction, and operations. In 1980, he was a founder of Dynatec Corporation, which became one of the leading contracting and mine operating groups in North America. In 2013, he was recognized as the Ernst and Young Entrepreneur of the Year for his devotion to bringing innovation to the mining industry. Most recently, he served as Chief Operating Officer of INV Metals before its sale to Dundee Precious Metals. He completed the Technician Program at the Haileybury School of Mines and is a Professional Engineer with a BSc in Mining Engineering from Queens University in Kingston. He is also a designated Independent Corporate Director, having received his ICD.D designation in 2019.

Mr. Shaver replaces Gregory Fauquier, who has resigned from the Board of Directors after seven years of distinguished service to the Company. We sincerely thank Mr. Fauquier for his contributions and wish him well in all his future endeavors.

Los Azules Project, Argentina

The McEwen Copper division, 81% owned by McEwen Mining, is rapidly advancing work on the Los Azules project following the completion of the US$40 million first tranche private placement financing announced August 23, 2021. The second tranche of the private placement is expected to close shortly. Preparations are underway for a large 53,000-meter drilling program targeting the upgrading of Inferred mineral resources to the Indicated category. The first 2 drill rigs are arriving in early November 2021, ramping up to the full complement of 10 drills by January 2022. Access to the project is currently being established on the existing exploration road, which has been safely cleared by crews 48 miles (78 km) of the route, approximately three quarters of the way to the project. Construction of a new all-season lower altitude access road is underway, with completion expected in H2 2022.

McEwen Copper has engaged an experienced group of professionals and consultants to guide the Los Azules project towards the pre-feasibility study stage, including Dave Tyler, Study Director, Gary Cochran, Project & Construction Manager, and Bill Thomas, Manager of Business Improvement & Operational Readiness.

Dave Tyler, Study Director
Dave is a senior mining executive with over 30 years of expertise in innovation, planning, engineering, permitting, start-up, and operations of successful mines internationally. He has authored multiple feasibility studies of major precious and base metals mining projects globally, including South America. Mr. Tyler was previously the Study Director for Newmont Mining, VP of Technical Services for Coeur Mining, and the Vice President Project Development for Twin Metals, leading a $1.1B copper-nickel development project near an environmentally sensitive national wilderness area.

Gary Cochran, Project & Construction Manager
Gary is a seasoned mining and construction professional with over 35 years of experience in surface mining and associated construction works. He has successfully led multiple large-scale projects and has trained personnel to high standards of safe economical operation in all aspects of mining and construction. Gary was the Construction & Project Manager for Hudbay Minerals’ Constancia Copper Mine in Peru. He also managed the El Brocal Zinc open pit mine operations in Peru. Gary was a manager for Anglo American’s Quellaveco Mine in Peru and was involved in managing winter operations as an advisor to Barrick’s Veladero project in Argentina.

William Thomas, Manager of Business Improvement & Operational Readiness
William (Bill) is a project consulting engineer experienced in facility design optimization, mineral processing, asset management, logistics, safety, training and change management. Bill was a project consultant to Hudbay Minerals’ Constancia Project in Peru, as well as Project Consultant to both Newmont and Freeport, responsible for defining core business processes to support capital effectiveness and delivery of low cost, high productivity business-ready facilities.

Technical Information
The technical contents of this news release have been reviewed and approved by G. Peter Mah, P.Eng., COO of McEwen Mining and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.

ABOUT MCEWEN MINING

McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina.

Vancouver, British Columbia–(Newsfile Corp. – September 29, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) (FSE: SEG1) (the "Company") is pleased to announce the appointment of Mr. Russell Ball to the board of directors and Mr. Paul Harbidge as a consultant to the Company. Mr. Ball and Mr. Harbidge bring to the Company a solid track record of creating value with both having been involved in senior leadership roles with mining companies for over 25 years. Mr. Ball is currently the Chair of the board of directors and Mr. Harbidge, President, Chief Executive Officer and Director of CopperBank Resources Corp.

Russell Ball is the former Chief Executive Officer and Executive Chair of Calibre Mining Corp. Previously, Mr. Ball was Executive Vice President and Chief Financial Officer of Goldcorp Inc., a role he assumed in March 2016 after initially joining Goldcorp Inc. in 2013 and serving as Executive Vice President of Capital Projects, Strategy and Corporate Development, including oversight of their primary growth projects. Prior to his role with Goldcorp Inc., he served in varying capacities at Newmont Mining Corporation for almost twenty years, culminating with his appointment as Executive Vice President and Chief Financial Officer. He currently serves on the Board of Trevali Mining Corporation and CopperBank Resources Corp.

Paul Harbidge is a geologist with more than 25 years of experience in mining exploration and development with a proven track record discovering world class gold deposits. Mr. Harbidge was most recently the President and Chief Executive Officer of GT Gold and led the company to a CA$456 million acquisition by Newmont Mining Corp. in May 2021. Prior to this Mr. Harbidge was the Senior Vice President of Exploration at the multinational gold mining company Goldcorp Inc. from 2016 until its acquisition by Newmont Mining Corp. in April 2019. Prior to that, Mr. Harbidge successfully led the Exploration Team at the gold miner Randgold Resources Limited, resulting in five gold discoveries including the +5Moz Gounkoto deposit in the Loulo area of Mali and the +4Moz Massawa deposit in Senegal.

Mr. Harbidge is also a director of the gold exploration company Japan Gold Corp., is a technical advisor to Kalo Gold in Fiji and Gemdale Gold in Finland. He has a First-Class Honours Degree in Geology from Kingston University, London UK and a Masters of Science in Mineral Exploration and Mining Geology from Leicester University (UK).

Other Corporate Matters

All resolutions as set out in the Company's notice of meeting and information circular were passed by the requisite majority of shareholders at its annual general meeting held on September 28, 2021. The shareholders re-appointed Smythe LLP, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver's rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance.

The following incumbent directors were re-elected: Lawrence Page, Q.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan, Peter Cheesbrough and Gina Jones. The Company would like to thank retiring director Donald Head for his many years of service to the Company. Following the annual general meeting, the board of directors re-appointed Lawrence Page, Q.C. as President, Robert Macdonald as Vice President, Exploration, Graham Thatcher as Chief Financial Officer, and Arie Page as Corporate Secretary. The board also appointed Russell Ball as a director and Paul Harbidge as a consultant of the Company.

In addition, Southern Silver reports that it has granted 10,100,000 incentive stock options to directors, officers and consultants. The options are exercisable at a price of $0.31 per common share for a period of five years and are subject to the policies of the TSX Venture Exchange.

Lawrence Page, Q.C., Southern Silver's President, stated: "We welcome the return of incumbent directors who have ably assisted the Company in the development of its principal property, Cerro Las Minitas. Donald Head did not stand for re-election and remains as a valued consultant to the Company. We are fortunate that Russell Ball and Paul Harbidge have agreed to assist the Company, as consultants and director as noted in this release. Management is committed to building the Company into a substantial exploration and development company with significant capital available to achieve the development of its two significant mineral properties."

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions.

The Company's property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA, which includes patented land, State leases and BLM mineral claims totalling 22.3 sq. km. Targeting has been finalized and bonding pending for a 4,000m drill program, designed to test several copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Permitting is in the final stages with drilling expected to commence in Q4, 2021.

On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.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 news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97958

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. And in light of that, the trends we're seeing at Pretium Resources' (TSE:PVG) look very promising so lets take a look.

What is Return On Capital Employed (ROCE)?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Pretium Resources is:

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

0.21 = US$199m ÷ (US$1.2b – US$238m) (Based on the trailing twelve months to June 2021).

Thus, Pretium Resources has an ROCE of 21%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 2.8%.

View our latest analysis for Pretium Resources

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

The Trend Of ROCE

We're delighted to see that Pretium Resources is reaping rewards from its investments and has now broken into profitability. The company was generating losses five years ago, but now it's turned around, earning 21% which is no doubt a relief for some early shareholders. In regards to capital employed, Pretium Resources is using 24% less capital than it was five years ago, which on the surface, can indicate that the business has become more efficient at generating these returns. This could potentially mean that the company is selling some of its assets.

On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 20% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.

The Bottom Line On Pretium Resources' ROCE

In a nutshell, we're pleased to see that Pretium Resources has been able to generate higher returns from less capital. Since the stock has only returned 5.1% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.

On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation on our platform that is definitely worth checking out.

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

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

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

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. And in light of that, the trends we're seeing at Pretium Resources' (TSE:PVG) look very promising so lets take a look.

What is Return On Capital Employed (ROCE)?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Pretium Resources is:

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

0.21 = US$199m ÷ (US$1.2b – US$238m) (Based on the trailing twelve months to June 2021).

Thus, Pretium Resources has an ROCE of 21%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 2.8%.

View our latest analysis for Pretium Resources

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

The Trend Of ROCE

We're delighted to see that Pretium Resources is reaping rewards from its investments and has now broken into profitability. The company was generating losses five years ago, but now it's turned around, earning 21% which is no doubt a relief for some early shareholders. In regards to capital employed, Pretium Resources is using 24% less capital than it was five years ago, which on the surface, can indicate that the business has become more efficient at generating these returns. This could potentially mean that the company is selling some of its assets.

On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 20% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.

The Bottom Line On Pretium Resources' ROCE

In a nutshell, we're pleased to see that Pretium Resources has been able to generate higher returns from less capital. Since the stock has only returned 5.1% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.

On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation on our platform that is definitely worth checking out.

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

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

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

In this article, we will take look at the 10 best silver mining stocks in 2021. You can skip our detailed analysis of silver mining companies and their future outlook, and go directly to see the 5 Best Silver Mining Stocks in 2021.

During uncertain times, investors often take refuge in precious metals. Especially during inflation, precious metals, particularly gold and silver, become a staple for the investors’ portfolios. Gold has always taken a central stage in the precious metals industry, but the reversal of the situation was witnessed in 2020 as silver stocks continued to outperform gold stocks. Earlier this year, the prices of silver reached an eight-year high as Reddit’s WallStreetBets piled into the metal.

According to the data collected by FactSet in April 2021, silver soared by 70% in 2020, compared with gold, which gained 4% during the same time. A reason for this growth is silver's industrial uses, especially in solar products, EVs and semiconductors. A report published by The Silver Institute says that the automotive industry will likely use 61 million ounces of silver in 2021. This figure could reach 88 million ounces in five years.

According to a report published by The Silver Institute, physical investment, like bullion coins and bars, is expected to reach 257 million ounces in 2021, achieving a six-year high. The ETFMG Prime Junior Silver Miners ETF (SILJ), which lists many notable silver stocks like Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY), and Fortuna Silver Mines Inc. (NYSE: FSM), gained 27.93% in the past year, in-line with the Russell 1000’s return of 28.2% during the same period.

Recently, Bank of America described silver as a ‘metal important for future technologies’, and forecasted the average value of the metal at $27.71 per ounce in 2021. The bank asserted that silver will benefit from the growing demand for solar panels and electrical devices. SSR Mining Inc. (NASDAQ: SSRM) and Pan American Silver Corp. (NASDAQ: PAAS) are among the top picks of the bank in the precious metals sector.

Photo by Scottsdale Mint on Unsplash

Our Methodology:

With this context, let's analyze the list of best silver mining stocks in 2021. We took into account hedge fund sentiments, analysts’ ratings, long-term growth potential, and fundamentals while choosing these stocks.

Why pay attention to hedge fund sentiment while choosing stocks?

Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the S&P 500 ETF (SPY). Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Best Silver Mining Stocks in 2021

10. Gatos Silver, Inc. (NYSE: GATO)

Number of Hedge Fund Holders: 2

Gatos Silver, Inc. (NYSE: GATO) is an American silver mining and exploration company that focuses on high-grade silver deposits in geopolitically stable areas. The company was founded in 2009 and is headquartered in Colorado, U.S. It ranks tenth on our list of the best silver mining stocks in 2021.

In July 2021, Gatos Silver, Inc. (NYSE: GATO) entered into a contract with the Bank of Montreal for a $50 million revolving credit facility, or RCF, which will provide financial flexibility to the company. In Q2, the company reported a net income of $13.5 million, compared with a net loss of $10.6 million during the same period last year. In July, RBC Capital lifted Gatos Silver, Inc. (NYSE: GATO) to ‘Outperform’, with an $18 price target, up from $15. The analyst Michael Siperco expects the company to benefit from the RCF to accelerate the exploration of the Los Gatos district.

As of Q2 2021, 2 hedge funds have positions in Gatos Silver, Inc. (NYSE: GATO), worth $30.6 million.

9. Endeavour Silver Corp. (NYSE: EXK)

Number of Hedge Fund Holders: 8

Endeavour Silver Corp. (NYSE: EXK) is a precious metals mining company that operates three underground silver-gold mines in Mexico. The company’s Terronera Mine Project aims towards becoming a premier senior silver producer. It ranks ninth on our list of the best silver mining stocks in 2021.

In Q2 2021, Endeavour Silver Corp. (NYSE: EXK) posted revenue of $47.7 million, showcasing a 136% year-over-year growth. The company sold 1.1 million ounces of silver at an average price of $26.82 per ounce. The production of silver presented an 80% growth from the prior-year quarter. Recently, HC Wainwright lifted its price target on Endeavour Silver Corp. (NYSE: EXK) to $6.75, with a ‘Buy’ rating on the shares.

As of Q2 2021, 8 hedge funds have positions in Endeavour Silver Corp. (NYSE: EXK), worth $6.45 million. Renaissance Technologies is the company’s leading shareholder with shares worth $3.7 million.

In addition to Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY), Fortuna Silver Mines Inc. (NYSE: FSM), and First Majestic Silver Corp. (NYSE: AG), investors and analysts are also paying attention to Endeavour Silver Corp. (NYSE: EXK) amid the company’s long-term growth potential.

8. First Majestic Silver Corp. (NYSE: AG)

Number of Hedge Fund Holders: 11

First Majestic Silver Corp. (NYSE: AG) is a Canadian mining company focused on the production of gold and silver in Mexico and the U.S. The company derives 60% of its revenue from silver production and sales. First Majestic Silver Corp. (NYSE: AG) has four gold and silver operating mines with over 5,400 direct employees. It ranks eighth on our list of the best silver mining stocks in 2021.

In Q2 2021, First Majestic Silver Corp. (NYSE: AG) posted an EPS of $0.05, compared with $0.03 in the previous quarter. The revenue for the quarter stood at $154.1 million, up from $34.9 million during the same period last year. First Majestic Silver Corp. (NYSE: AG) also declared a quarterly dividend of $0.006 per share, presenting a 33% increase from the prior dividend. In July, H.C. Wainwright lifted its price target on First Majestic Silver Corp. (NYSE: AG) to $25, with a ‘Buy’ rating on the shares.

As of Q2 2021, 11 hedge funds have positions in First Majestic Silver Corp. (NYSE: AG), worth $39.5 million.

7. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Number of Hedge Fund Holders: 11

Turquoise Hill Resources Ltd. (NYSE: TRQ) ranks seventh on our list of the best silver mining stocks in 2021. It is a Canada-based mineral exploration and development company that specializes in the exploration and mining of silver, gold, and copper. The company is the subsidiary of multinational metals and mining corporation, Rio Tinto Group (NYSE: RIO).

In Q2 2021, Turquoise Hill Resources Ltd. (NYSE: TRQ) posted a GAAP EPS of $0.48, beating the market consensus by $0.09. The company’s revenue also presented a 14.3% year-over-year growth at $317 million. Silver revenue accounted for $2.9 million of the gross revenue. In August, Scotiabank rated Turquoise Hill Resources Ltd. (NYSE: TRQ) as ‘Outperform’, with a C$30 price target.

Of the 873 hedge funds tracked by Insider Monkey, 11 hedge funds have positions in Turquoise Hill Resources Ltd. (NYSE: TRQ), worth $620.3 million.

In addition to Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY), Fortuna Silver Mines Inc. (NYSE: FSM), and First Majestic Silver Corp. (NYSE: AG), investors and analysts are also paying attention to Turquoise Hill Resources Ltd. (NYSE: TRQ) amid the company’s long-term growth potential.

6. MAG Silver Corp. (NYSE: MAG)

Number of Hedge Fund Holders: 13

MAG Silver Corp. (NYSE: MAG) is a Canadian exploration and development company that specializes in the exploration of mineral properties. The company operates mineral-dominant projects with a prime focus on silver mining. It ranks sixth on our list of the best silver mining stocks in 2021.

The Joint Venture between MAG Silver Corp. (NYSE: MAG) and Minera Juanicipio is expected to develop an underground mine, with 4,000 tonnes per day processing plant by Q4 2021. The company produced 404,518 ounces of silver in Q2 2021 with an average price of $27.17 per ounce. In July, National Bank lifted its price target on MAG Silver Corp. (NYSE: MAG) to C$31, with an ‘Outperform’ rating on the shares.

As of Q2 2021, 13 hedge funds tracked by Insider Monkey have positions in MAG Silver Corp. (NYSE: MAG), up from 12 in the previous quarter. These stakes are valued at $120.8 million.

Click to continue and see the 5 Best Silver Mining Stocks in 2021.

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• 12 Best Silver Stocks To Buy

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Disclosure. None. 10 Best Silver Mining Stocks in 2021 is originally published on Insider Monkey.

VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that the Board of Directors of the company has made a decision to proceed with the construction of an open pit mine at the Séguéla gold Project in Côte d’Ivoire. The company is ready to immediately commence construction with long lead items procured, and development teams established on the ground. In July 2021, Fortuna completed the acquisition of Roxgold Inc. which was advancing the Séguéla Project (see Fortuna's news release dated July 2, 2021, “Fortuna and Roxgold complete combination to create a global premier growth-oriented intermediate gold and silver producer”). For specific details on the Séguéla Project feasibility study, please refer to the technical report entitled “NI 43‐101 Technical Report, Séguéla Project, Feasibility Study, Worodougou Region, Côte d’Ivoire” dated May 26, 2021.

Jorge A. Ganoza, President and CEO of Fortuna, commented, “With a nine year mine life in reserves, 130,000 ounces of annual gold production in the initial six years, and compelling economics, Séguéla is planned to become our fifth operating mine with first gold by mid-2023.” Mr. Ganoza added, “Fortuna is in a solid financial position to fund the remaining $162 million initial capital investment and our teams in West Africa are primed and ready to start.” Mr. Ganoza concluded, “Parallel to construction, the company plans to continue with well funded drill programs to test multiple remaining targets on the Séguéla property, where over the last 12 months, the exploration team has successfully delivered gold discoveries at the Koula, Sunbird and Gabbro North prospects.”

Paul Criddle, COO – West Africa of Fortuna, commented, “The decision to commence construction of the still growing Séguéla Project, marks an exciting milestone for the company.” Mr. Criddle continued, “The team has further derisked the project by advancing detailed design and commencing procurement of long lead items, including the SAG mill and the execution of critical path agreements including the EPC agreement with Lycopodium for the processing plant. This has allowed Séguéla's critical path to be protected as well as managing the cost risk by locking in substantial components of the initial capex in fixed price contracts.” Mr. Criddle added, “Bulk earthworks contractors have been mobilized and will break ground at the plant site in October with the accommodation village expected to be completed in November of 2021.”

The updated Séguéla Project total initial capital investment is $173.5 million. $11.5 million of this amount has previously been approved by the Board for early works items. The anticipated construction schedule is approximately 20 months, with ramp-up to name plate capacity expected in the third quarter of 2023.

Séguéla Project feasibility study economic highlights^1,5,6

The following table sets out the economic highlights from the Séguéla feasibility study:

Operating Metrics

Financial Metrics

Environmental Data

Notes:

1. Please refer to the technical report entitled “NI 43‐101 Technical Report, Séguéla Project, Feasibility Study, Worodougou Region, Côte d’Ivoire” dated May 26, 2021 co-authored by Paul Criddle, FAusIMM, Hans Andersen, MAIG, Paul Weedon, MAI, Dave Morgan, AIMM, CPEng, Geoff Bailey, FIEAust, CPEng, NPER-3, REPQ, Shane McLeay FAUSIMM and Niel Morrison Peng filed on SEDAR under the Roxgold Inc. issuer profile

2. Cash costs, all-in sustaining cash costs and EBITDA are non-IFRS financial measures. Refer to Non-IFRS Financial Measures at the end of this news release

3. Attributable to Fortuna’s 90% interest; the Government of Côte d’Ivoire holds a 10% carried interest

4. The Project economics are subject to the assumptions as detailed in the Feasibility Study

5. All references to dollar amounts in the table and in this news release are expressed in US dollars

6. The financial metrics in the table are based upon an initial capital expenditure of $142 million as set out in the Feasibility Study

Construction at Séguéla will incorporate protocols to ensure the health and safety of employees, contractors and host communities in respect of COVID-19.

The company will continue to provide construction updates as progress is made at Séguéla in the upcoming months.

Qualified Person

Paul Criddle, FAusIMM, Chief Operating Officer, West Africa for the company, is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information pertaining to the Séguéla Project contained in this news release and has verified the underlying data.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d’Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO, and Director
Fortuna Silver Mines Inc.

Investor Relations:
Carlos Baca | info@fortunasilver.com

Forward-looking statements

This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward-looking Statements”). All statements included herein, other than statements of historical fact, are forward-looking statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Forward-looking statements in this news release may include, without limitation, statements about the company’s plans for the construction of an open pit mine at the Seguela project in Cote D’Ivoire; the economics for the construction of the mine at the Seguela project as set out in the feasibility study; the estimated construction capex for the project; the timelines and schedules for the construction of the mine; the estimated internal rate of return on production; the estimated net present value of the project and estimates of production; estimated EBITDA; the ability of the company to continue its exploration at the Séguéla project; the company’s plans for its mines and mineral properties; the company’s anticipated performance in 2021; estimated production forecasts; estimated production costs and all-in sustaining cash costs; the success of the company’s exploration activities at its mines and development projects; the timing of the implementation and completion of sustaining capital investment projects at the company’s mines; the duration and impacts of COVID-19 on the company’s construction plans at Seguela, production, workforce, business, operations and financial condition; metal price estimates, estimated metal grades; the timing of the signing of construction contracts for the Séguéla Project; the company’s business strategy, plans and outlook; the merit of the company’s mines and mineral properties; mineral resource and reserve estimates; production costs; timelines; the future financial or operating performance of the company; expenditures; approvals and other matters. Often, but not always, these forward-looking statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “anticipated”, “estimated” “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in the construction schedule at Seguela; the impact of the COVID-19 pandemic on the company’s mining operations and construction activities; the duration and impacts of COVID-19 on the company’s production, workforce, business, operations and financial condition, and the risks relating to a global pandemic, which unless contained could cause a slowdown in global economic growth; uncertainties related to the impacts of COVID-19 which may include: changing market conditions, changing restrictions on the mining industry in the countries in which the company operates, the ability to operate as a result of government imposed restrictions, including restrictions on travel, the transportation of concentrates and doré, access to refineries, the impact of additional waves of the pandemic or increases of incidents of COVID-19 in the countries in which we operate; the duration of any suspension of operations at the company’s mines as a result of COVID-19 which may affect production and the company’ business operations and financial condition; changes in prices for gold, silver and other metals; changes in the prices of key supplies; technological and operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; the ability of the current exploration programs to identify and or expand mineral resources, operational risks in exploration and development; delays or changes in plans with respect to exploration or development projects; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; changes to current estimates of mineral reserves and resources; changes to production and cost estimates; governmental and other approvals; maintaining, obtaining or renewing environmental permits; changes in government, political unrest or instability in countries where Fortuna is active; fluctuations in currencies and exchange rates; the imposition of capital control in countries in which the company operates; labor relations issues; as well as those factors discussed under “Risk Factors” in the company's Annual Information Form. Although the company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the accuracy of the company’s current mineral resource and reserve estimates; that the company’s activities will be in accordance with the company’s public statements and stated goals; that there will be no material adverse change affecting the company or its properties; that the reconciliation of mineral reserves at the company’s mines remains consistent with the mineral reserve model; changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing, and recovery rate estimates and may be impacted by unscheduled maintenance, labor and contractor availability and other operating or technical difficulties); the duration and impacts of COVID-19 on the company’s production, workforce, business, operations and financial condition, and the risks relating to a global pandemic, which unless contained could cause a slowdown in global economic growth; government mandates in Peru, Mexico, Argentina, Burkina Faso and Côte d’Ivoire with respect to mining operations generally or auxiliary businesses or services required for the company’s operations; government and the company’s attempts to reduce the spread of COVID-19 which may affect may aspects of the company’s operations, including transportation of personnel to and from site, contractor and supplier availability and the ability to sell or deliver concentrate and doré; the expected trends in mineral prices and currency exchange rates; that the company’s activities will be in accordance with the company’s public statements and stated goals; that there will be no material adverse change affecting the company or its properties; that all required approvals will be obtained for the company’s business and operations; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

For readers to fully understand the information in this news release, they should read the technical report entitled “NI 43‐101 Technical Report, Séguéla Project, Feasibility Study, Worodougou Region, Côte d’Ivoire” dated May 26, 2021 (the “Technical Report” in its entirety, including all qualifications, assumptions and exclusions that relate to the information set out therein which qualifies the technical information contained in the Technical Report. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context).

Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources

Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves.

Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies.

Non-IFRS Financial Measures

This news release also refers to non-IFRS financial measures, such as cash costs, all-in sustaining cash cost and EBITDA. These measures do not have a standardized meaning or method of calculation, even though the descriptions of such measures may be similar. These performance measures have no meaning under International Financial Reporting Standards (IFRS) and therefore, amounts presented may not be comparable to similar data presented by other mining companies. For additional information regarding non-IFRS measures, including reconciliations to the closest comparable IFRS measures, see "Non-GAAP Financial Measures" in Fortuna’s annual MD&A, which is available under Fortuna's SEDAR profile.

VANCOUVER, BC / ACCESSWIRE / September 29, 2021 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCZF); (the "Company") is pleased to announce that field crews have been mobilized to their polymetallic Bridal Veil Property in Newfoundland, Canada. Bridal Veil is located 10 km east of Gander in the geological terrane called the Gander Zone which is an area of significant interest to explorationists due to the recent gold discovery at the Queensway Project owned by Newfound Gold. The Bridal Veil Property comprises of 126 claims (3,150 hectares) and lies within the Gander Zone and is underlain by sedimentary rocks of the Gander Group. Bridal Veil is an epigenetic, structurally controlled polymetallic target which has been noted to have the potential to host gold mineralization.

Bridal Veil has had some promising results including several gold in till samples from regional government surveys, promising assays from several identified mineral occurrences, and an unexplained geophysical anomaly. Historical grab samples from mineralized zones have returned grades of up to 8.9% copper, 5.6% lead, 8.6 oz/t silver and 750 ppb gold and another grab containing 3.82 g/t gold. Other grab samples from the mineralized zones include:

Previous geophysical investigations included an Induced Polarization Survey and a Magnetometer Survey which served to identify anomalous areas that merit follow up exploration. To date only 20% of the property has been subjected to any work or reconnaissance efforts. The property is transected by both the Trans Canada Highway and the Trans Canada Trail system and also many of the claims are accessible by a network of trails.

Mr. John Bossio, Chairperson noted, "We are pleased to initiate exploration efforts at Bridal Veil. Newfoundland. Central Newfoundland is a hotbed of exploration activity and we are excited to now be able to start to examine Bridal Veil."

Qualified Person

Kevin Brewer, a registered professional geoscientist in BC, Yukon and Newfoundland, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has approved the technical information reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for silver in Yukon and British Columbia and polymetallic deposits in Yukon and Newfoundland. Our silver-lead-zinc prospects include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") and the recently acquired Rancheria South, Amy and Silverknife claims (the "Rancheria South Project"). Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).

On behalf of the Board:

"John Bossio"
John Bossio, Chairman
CMC METALS LTD.

For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc Hons, Dip. Eng
President, CEO and Director
Tel: (604) 670 0019
kbrewer80@hotmail.com
Suite 110-175 Victory Ship Way
North Vancouver, BC
V7L 0B2

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer.

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 certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE: CMC Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/666108/CMC-Metals-Mobilizes-Field-Crews-at-Its-Bridal-Veil-Property-in-Newfoundland

Mandalay Resources (TSE:MND) has had a rough three months with its share price down 28%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study Mandalay Resources' ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.

See our latest analysis for Mandalay Resources

How To Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for Mandalay Resources is:

29% = US$46m ÷ US$159m (Based on the trailing twelve months to June 2021).

The 'return' is the income the business earned over the last year. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.29 in profit.

Why Is ROE Important For Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Mandalay Resources' Earnings Growth And 29% ROE

Firstly, we acknowledge that Mandalay Resources has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 13% which is quite remarkable. As a result, Mandalay Resources' exceptional 22% net income growth seen over the past five years, doesn't come as a surprise.

As a next step, we compared Mandalay Resources' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 32% in the same period.

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Mandalay Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Mandalay Resources Using Its Retained Earnings Effectively?

Given that Mandalay Resources doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

Overall, we are quite pleased with Mandalay Resources' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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

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

Mandalay Resources (TSE:MND) has had a rough three months with its share price down 28%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study Mandalay Resources' ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.

See our latest analysis for Mandalay Resources

How To Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for Mandalay Resources is:

29% = US$46m ÷ US$159m (Based on the trailing twelve months to June 2021).

The 'return' is the income the business earned over the last year. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.29 in profit.

Why Is ROE Important For Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Mandalay Resources' Earnings Growth And 29% ROE

Firstly, we acknowledge that Mandalay Resources has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 13% which is quite remarkable. As a result, Mandalay Resources' exceptional 22% net income growth seen over the past five years, doesn't come as a surprise.

As a next step, we compared Mandalay Resources' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 32% in the same period.

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Mandalay Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Mandalay Resources Using Its Retained Earnings Effectively?

Given that Mandalay Resources doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

Overall, we are quite pleased with Mandalay Resources' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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

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

VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to report that it has started a diamond drilling program of up to approximately 2,000 metres at the Tierra Dorada gold project in Paraguay. The program is mainly focused on follow-up drilling to better define the high-grade Alvaro target, in addition to several initial holes to test the Itayuru target, located approximately ten kilometres southwest of Alvaro, for the first time.

The first drill campaign at Alvaro hit near-surface high-grade gold, including (see January 19, 2021 News Release):

• 143.5 g/t gold over 0.5m, within 6m averaging 14.5 g/t gold at 3-9m depth and

• 11.8 g/t gold over 3.16m, within 7.75m averaging 6.1 g/t gold at 1.70-9.35m depth

"We are very pleased to have this second, fully-funded drill program underway, concurrent with our drilling at the Rosales Copper Project in Chile. Our reinterpreted geophysics has delineated the complex structural setting below the extensive cover at Alvaro so that we can now move to more advanced drill testing. And we prioritized Itayuru as the second drill target within the district-scale project after our surface program returned remarkable gold values of well over a gram-per-tonne in stream sediments," stated Brian McEwen, VP Exploration and Development for Golden Arrow.

The Tierra Dorada drill program plan has been designed with flexibility in how the targets are tested, and in stages to allow for modifications based on results. The program will start with shallow drilling of up to 1,000 metres in 50 holes, in compliance with the Company's current prospecting permit. However, all application requirements for the full exploration permit are complete and Golden Arrow is anticipating the granting of that permit imminently, which will enable the program to transition to include deeper holes. The alternative deep program includes up to 1,536 metres in 12 holes as a first priority, with up to 17 holes or 2,096 metres in total. The program is expected to continue through the fourth quarter of the year.

Tierra Dorada Drill Program Target Details

The district-scale Tierra Dorada project is targeting high-grade quartz vein-hosted gold following an orogenic deposit model. The Alvaro target spans approximately four square kilometres that is mostly covered by two to six metres of soil and saprolite. There are four main showings of sub-outcropping quartz vein boulders and structures that host gold, with only approximately three square metres of outcrop exposed at each showing. In late 2020 Golden Arrow completed a 4.2 square kilometre IP and resistivity survey with both Gradient and Pole-Dipole ("P-DP") arrays over the Alvaro target to detect and delineate veins, hydrothermal alteration, faults and lithologic contacts below the cover. The program successfully identified chargeable and resistive trends around the known showings, and several areas were earmarked for follow-up (see the January 19, 2021 News Release for details). A more recent interpretation of the survey data has added a more detailed interpretation of subsurface structures and veins throughout the survey area that has helped focus the targets for the Phase 2 drill program.

The Itayuru target is situated approximately ten kilometres southwest of Alvaro, and historic surface sampling reportedly included samples of 7.04 g/t gold and 5.96 g/t gold in altered quartzite samples. As only approximate locations were available for the historic samples, a detailed stream sediment and soil sampling program was initiated in 2021 to delineate anomalies throughout the area. Stream sediment samples from creeks draining the area of the historic 7.04 g/t gold sample confirmed the presence of anomalous gold, including 1.58 g/t gold approximately 600 metres downstream, and a high of 3.82 g/t gold approximately 1.5 kilometres downstream. Additional drainages had sediment samples with visible gold flakes, but assays are pending. A detailed geological review of the area around the 5.96 g/t gold historic sample focused on an outcrop of quartzite with argillic and hematitic alteration, partially brecciated and with quartz veinlets. Samples of the outcrop returned 3.49 g/t gold. This target will be tested with a drill hole in this campaign, while more detailed work is in progress. Additionally, 475 soil samples were collected over the entire Itayuru target, but most assay results remain pending.

Quality Assurance

Golden Arrow has contracted Master Gold S.A. to provide drilling services for the Tierra Dorada program. The program will use a single FDH-3000 drill rig drilling HQ sized core. Samples will be sent to Alex Stewart laboratories in Mendoza, Argentina for preparation and analysis.

The samples here reported were shipped to Alex Stewart International in Mendoza, Argentina, an internationally recognized assay service. Stream sediment and soil samples were sieved at 80 mesh with the fine fraction assayed by gold by Fire Assay with an atomic absorption finish on 50g aliquots. A 39 element analysis was performed by a four-acid digestion and detection by ICP-OES.

The technical information in this news release has been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company and a Qualified Person as defined in National Instrument 43-101.

About Golden Arrow:

Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is well leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious metals producer SSR Mining Inc.

Golden Arrow is actively exploring a portfolio that includes an epithermal gold project in Argentina, a district–scale frontier gold opportunity in Paraguay, a base-metal project in the heart of a leading mining district in Chile and more than 180,000 hectares of properties in Argentina.

The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO

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

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.

View original content to download multimedia:https://www.prnewswire.com/news-releases/golden-arrow-drills-tierra-dorada-gold-project-paraguay-301386409.html

SOURCE Golden Arrow Resources Corporation

Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some selections. So we wouldn't blame long term Fortuna Silver Mines Inc. (TSE:FVI) shareholders for doubting their decision to hold, with the stock down 45% over a half decade. And it's not just long term holders hurting, because the stock is down 39% in the last year. Furthermore, it's down 22% in about a quarter. That's not much fun for holders.

It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.

Check out our latest analysis for Fortuna Silver Mines

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

Fortuna Silver Mines became profitable within the last five years. Most would consider that to be a good thing, so it's counter-intuitive to see the share price declining. Other metrics may better explain the share price move.

In contrast to the share price, revenue has actually increased by 8.6% a year in the five year period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).

We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. This free report showing analyst forecasts should help you form a view on Fortuna Silver Mines

A Different Perspective

While the broader market gained around 34% in the last year, Fortuna Silver Mines shareholders lost 39%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 8% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for Fortuna Silver Mines you should be aware of, and 1 of them shouldn't be ignored.

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.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

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

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

COEUR D'ALENE, Idaho, September 28, 2021–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced the New York Stock Exchange (NYSE) released its Work This Way webcast featuring Phil Baker, President and CEO. The webcast is available on the Company’s Homepage at www.hecla-mining.com, as well as on the NYSE’s Work This Way website (www.theice.com/wtw).

ABOUT HECLA

Founded in 1891, Hecla Mining Company (NYSE:HL) is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho and Quebec, Canada, the Company owns a number of exploration properties and pre-development projects in world-class silver and gold mining districts throughout North America.

Category: Press Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005955/en/

Contacts

Jeanne DuPont
Senior Communications Coordinator

800-HECLA91 (800-432-5291)
Investor Relations
Email: hmc-info@hecla-mining.com
Website: www.hecla-mining.com

Vancouver, British Columbia–(Newsfile Corp. – September 27, 2021) – Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) (the "Company") is pleased to announce that it has completed an oversubscribed second tranche of its previously announced non-brokered private placement (the "Private Placement"). Stephen Goodman, President states that, "The Company appreciates the support of existing shareholders and insiders, and welcomes our new investors." Proceeds will be used to advance the company's assets, primarily its MacArthur copper oxide project in Nevada, and general working capital.

Pursuant to the closing of the second tranche, the Company has issued 12,863,669 units ("Units") at a price of US$0.06 (C$0.075) per Unit for gross proceeds of US$771,820 (C$964,775). Combined with the first tranche, the Company has raised US$2,338,170 (C$2,922,713) in the Private Placement. Due to strong demand the Company is also increasing the total offering to up to an aggregate US$2.7 million in gross proceeds, and will seek to complete a third tranche closing shortly on the same offering terms.

Each Unit consists of one common share of the Company and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of US$0.10 per share for a period of three years from the date of closing. The Warrants contain a forced exercise provision if the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange (the "Exchange") is equal to or greater than US$0.30 for a period of 10 consecutive trading days.

The securities issued pursuant to the second tranche will be subject to a hold period expiring on January 28, 2022 in accordance with applicable securities laws.

In connection with the completion of the second tranche of the Private Placement, the Company paid a total of US$17,354 and issued 289,240 finder's warrants as finder's fees to PI Financial Corp. and Haywood Securities Inc. The finder's warrants will be exercisable at US$0.10 per share for a period of 3 years from the date of closing.

In connection with this closing of the Offering, the Company issued Units to two directors of the Company. As a result, this tranche of the Private Placement constituted a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and MI 61-101 are available for the issuance of the Units to related parties. The Company is relying on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement on the basis that the fair market value of insider participation is not more than 25% of the Company's market capitalization.

In addition, the Company announces that it has granted incentive stock options pursuant to its stock option plan to various directors and officers of the Company, to purchase up to an aggregate of 4,500,000 common shares of the Company. The stock options are exercisable at a price of $0.11 per share and expire five years from the date of grant.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

Mr. Travis Naugle, CEO, states that, "the advancement of the MacArthur copper oxide project has the potential to make a significant positive impact in local community and to provide the critical resources in the battle to combat climate change. We look forward to keeping our stakeholders apprised as we continue to advance this important project."

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057

Email: info@quaterra.com
Website: www.quaterra.com

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97818

TSX: SVM
NYSE AMERICAN: SVM

VANCOUVER, BC, Sept. 27, 2021 /PRNewswire/ – Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report that all matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated August 13, 2021, were approved by the requisite majority of votes cast at Silvercorp's annual general meeting ("AGM") held on Friday, September 24, 2021. A total of 98,998,647 common shares, representing 56.20% of the votes attached to all outstanding shares as at the record date for the meeting, were represented at the AGM. The details of the voting results for the election of directors are set out below:

Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year. Final results for all matters voted on at the AGM will be filed on SEDAR at www.sedar.com and on the Company's website.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca.

View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-reports-2021-agm-results-301385055.html

SOURCE Silvercorp Metals Inc

VANCOUVER, BC, Sept. 27, 2021 /CNW/ – Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report on innovative waste reduction initiatives undertaken at the Company's mines. Silvercorp's key values – respect, equality, and responsibility – guide the Company's environmental, social, and governance ("ESG") efforts. Silvercorp strives to create "Green Mines" and pursue sustainable development initiatives throughout the mining lifecycle by integrating efficient technology and innovative systems into mine planning and ESG management practices.

Silvercorp Chairman and CEO, Dr. Rui Feng, commented, "As part of our commitment to safety, efficiency, and environmental stewardship, we are pleased to introduce technology that converts solid wastes such as tailings and waste rock into resources. Our management of waste generated from the Company's mines is integral to the strategic land reclamation activities and reducing the costs and liabilities associated with waste management. We are proud to integrate innovative sustainable development initiatives at our operations."

Background

A billion tonnes of tailings and waste rock are generated each year in China and produce a series of environmental issues, such as land usage, vegetation destruction, and air pollution. The mining activities at the Ying Mining District have historically produced volumes of waste rock that require a substantial amount of land for storage. Through the use of a treatment plant, waste rock can be converted to sand and gravel aggregate thereby reducing the consumption of primary resources, land, environmental risks, and overall costs.

Luoyang Hongfa Building Materials Co., Ltd – Ying Mining District, Henan Province, China

In April 2020, Silvercorp, in conjunction with Luoning City Investment Company, commenced construction of a one million tonne per year aggregate waste rock treatment plant. The plant was designed to reduce the Ying Mining District's surface waste rock impoundments on-site and maximize the recovery and recycling processes. Silvercorp provided approximately USD$4.4 million to construct the plant and will recoup its capital costs prior to the plant's profits being distributed to the partners, providing an additional economic benefit to the local community through the commercialization of the sand and gravel for the construction industry of Luoning County and neighbouring areas. The aggregate production line was officially commissioned in April 2021.

Technology, Innovation, and the Environment

The development of a low-carbon system that reduces waste, land use, and costs was a key consideration in improving the waste rock management practices at the Ying Mining District. Adherence to high national and provincial standards for emissions guided the construction and design of the plant. As a result, the Company is pleased to report that the plant will be classified as an "ultra-low emission" facility. In building the plant, the main goal was to maximize the recovery and recycling processes through efficient development. Key processes of the plant include: a vertical shaft impact crusher, an automated PLC¹ production control system, and a fully enclosed production line.

History of Community Collaboration and Waste Reduction – GC Mine

At Silvercorp's GC Mine in Guangdong Province, waste rock recycling processes have been in place since the mine's construction. The GC mine has not accumulated any waste rock in surface stockpiles, as over 90% of the waste rock produced is donated to the local community for processing at their aggregate production facilities, with the balance being used as backfill. Silvercorp has also purchased the end products for its construction projects periodically. In addition, in Q3 Fiscal 2021, Silvercorp completed the construction of a paste backfill plant at the GC mine at a cost of USD$1.5 million, where approximately 40% of the mine's dewatered tailings are mixed with cement and pumped underground to fill mined out stopes, with the balance stored in a dry stack tailings management facility. This investment enables the GC mine to return a significant portion of the tailings back underground as fill for mined out areas, which is expected to reduce the future costs and risks associated with the operation of above ground tailings facilities.

Future Waste Reduction Initiatives Under Investigation

In Q4 Fiscal 2021, Henan Found Mining Co. Ltd., Silvercorp's subsidiary in the Ying Mining District, was recognized as a High and New Technology Enterprise "HNTE" at the national level. Silvercorp continues to investigate innovative ways to operate more efficiently and sustainably, with the goal of reducing the consumption of inputs (electricity, fossil fuels, etc.) and the generation of wastes (solid, liquid, gaseous, etc.). One example is a current study underway investigating the potential use of mine tailings in the manufacturing of certain ceramic products.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca

CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: social and economic impacts of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

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SOURCE Silvercorp Metals Inc

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VANCOUVER, British Columbia, Sept. 27, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (the “Company”) (SBB – TSX) reports changes to executive team effective September 27, 2021.

After over 13 years with the Company, Elaine Bennett, Vice-President, Finance and CFO for the Company, will be stepping down from her role and moving on to pursue new opportunities. Ms. Wendy Louie will be assuming the position effective September 27, 2021.

Ms. Louie is a Canadian Chartered Professional Accountant (CPA, CA) with over 25 years of diverse finance and leadership experience. She most recently has provided consulting services in the mining, shipping, energy and technology sectors through her private consulting company which included mergers and acquisitions, risk management and advisory expertise. She held a series of senior management roles at Goldcorp Inc. from 2006 to 2016 serving as Vice-President, Finance, Vice-President, Reporting and Vice-President, Assistant Controller. Her background included roles in strategic business planning, project controls and reporting where she led the implementation of financial reporting and planning systems utilized in the management of several large-scale capital projects. Prior to that, Ms. Louie was a senior Tax Manager at Ernst and Young from 2004 to 2006 and from 1995 to 2004, she held various positions with Duke Energy Canada, including Director of Corporate Reporting. Ms. Louie began her career articling with Ernst and Young and holds a Bachelor of Commerce degree from the University of British Columbia.

“Elaine has been an important part of the Company through its evolution from explorer to developer. She was a key lead in obtaining the Company’s social license and has been a vital committed contributor over the years. We very much appreciate all of her contributions and wish her every success in her future endeavours,” said Bruce McLeod, President & CEO. “We are excited to have Wendy Louie join the team. Wendy has a background that aligns well with our future plans and we believe her breadth of experience is invaluable as the Company prepares to become a gold producer. On behalf of the Board of Directors, I would like to welcome Wendy aboard.”

Ms. Bennett will continue on with the Company during a transition period to integrate Ms. Louie into the Company’s Finance Department.

SABINA GOLD & SILVER CORP

Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.

Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV_5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

For further information please contact:
Nicole Hoeller, Vice-President, Communications:
1 888 648-4218
nhoeller@sabinagoldsilver.com

Cautionary Note regarding Forward-Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the ability to complete the Financing on the proposed terms or at all, anticipated use of proceeds from the Financing, receipt of regulatory approvals with respect to the Financing, including conditional approval from the Toronto Stock Exchange and future production at Back River.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, the Company’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further 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 placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release represent the expectations of management of the Company as of the date of this news release, and, accordingly, are subject to change after such date. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

DENVER, CO / ACCESSWIRE / September 24, 2021 / Gold Resource Corporation (NYSE American:GORO) (the "Company", "We", "Our" or "GRC") has released its 2020 Sustainability Disclosure Topics & Accounting Metrics ("2020 SASB Report"), which uses the Value Reporting Foundation's Metals & Mining Sustainability Accounting Standard of reporting to outline the Company's progress on its sustainability performance in 2020 at the Don David Gold Mine in Oaxaca, Mexico.

The team at Gold Resource Corporation holds itself accountable to the highest environmental, social and governance standards. Our commitment to acting responsibly and delivering excellence in sustainability allows us to deliver benefits to all our stakeholders, including our employees and local communities," said Allen Palmiere, President and Chief Executive Officer.

The Company's 2020 SASB Report, available at https://goldresourcecorp.com/responsible-mining/esg-reports/, highlights significant progress achieved by the Company in 2020 when compared with 2019, including:

1. A 38% decline in greenhouse gas emissions (or 23% decline related to tons of CO₂ equivalent produced per tonne of ore processed).

2. A 14.8% decline in the fresh water withdrawn per tonne of ore processed.

3. A 31% decline in the fresh water consumed per tonne of ore processed.

4. The percentage of tailings recycled through the paste plant rose to 26% from 5.7% in 2019.

The declines in tons of CO₂ equivalent are largely due to the conversion to the electrical grid from diesel generating capacity. We continue to focus on identifying opportunities to lower our power consumption and improve efficiency in this area. The declines in water consumption were due to the installation of the paste tailings plant as water is recycled back to the processing plant from this process.

About Gold Resource Corporation

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

Cautionary Statements:

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

For further information please contact:
Ann Wilkinson
Vice President, Investor Relations and Corporate Affairs
Ann.Wilkinson@GRC-USA.com
www.goldresourcecorp.com

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/665382/Gold-Resource-Corporation-Issues-2020-Sustainability-Accounting-Standards-Report

TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF

VANCOUVER, BC, Sept. 23, 2021 /CNW/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to report that it has commenced the first reverse circulation drilling program at the Rosales Copper Project in Chile. The drill program is testing the large conductive zones identified in the recent TEM geophysical survey, as discussed in the August 4^th, 2021 news release.

"We have multiple targets near-surface and at depth exhibiting hallmarks of high-grade, stratabound or mantos-style copper deposits so we are very excited to have the drills turning to test the interpretation," stated Brian McEwen, VP Exploration and Development for Golden Arrow.

The first phase of drilling will include approximately 1,400 metres in four holes, to test both the upper and lower conductors and confirm the geophysical interpretation. The subsequent 1,600 metres will be used to test the extent of the anomalies as well as other targets. The program is expected to continue through the fourth quarter of the year.

Rosales Project and Targets
The Rosales Project currently includes 3,444 hectares of 100% held mineral claims and an additional 900 hectares under application. The Project is located in the Atacama Region, a prolific mining district that hosts multiple large precious and base metal mines. The project is road-accessible and is situated less than 90 kilometres from the mining centre of Copiapo, with world-class exploration and mining infrastructure readily available.

The initial reconnaissance program at Rosales identified two general areas of prospective copper mineralization: the Margarita Mine trend (MMT), and the NW Target. The MMT is a 3.5-kilometre-long structural corridor, oriented northeast-southwest, mainly defined by felsic dykes. Chalcocite and chrysocolla were identified in outcrop over a 350 by 400 metres area underlain by andesitic volcanoclastics and andesites, within Jurassic aged volcano-sedimentary sequences. Samples from the area averaged 1.74% copper with a high value of 4.37% copper (see News Release dated July 20, 2020 filed on SEDAR). The copper mineralization fills fractures and is disseminated in the matrix of the volcanoclastic host rock, with further indications of manto-type mineralization in this zone.

As described in the June 24^th, 2021 news release, the Transient Electromagnetic (TEM) surface in-loop geophysical survey detected two highly-conductive anomalies in the MMT, named G1 and G2, estimated to start within 100 metres of the surface. The G1 target is the highest priority target for drilling due to its size, strong conductivity and correlation with high copper values in surface rock-chip samples.

Subsequent to the surface TEM survey, three lines of TEM soundings were completed, crossing the two MMT anomalies, to provide resistivity, displayed in vertical images. As described in the August 4^th, 2021 news release, The TEM sounding sections reveal one or more upper zones of moderate conductivity above 250m from surface, interpreted to correlate with the conductors detected in the previously reported fixed in-loop TEM surveys. Additionally, the sounding sections have detected a prominent and extensive conductor at approximately 500m depth and appear to resolve increased conductivity below G1, proximal to a vertical corridor postulated to represent a feeder-structure. The flat-lying and layered appearance of the anomalies, combined with the copper sulphide mineralization observed at surface, are consistent with expectations for copper manto (stratabound) deposits.

Qualified Persons

The technical portions of this news release have been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company and a Qualified Person as defined in National Instrument 43-101.

About Golden Arrow:

Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is well leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious metals producer SSR Mining Inc.

Golden Arrow is actively exploring a portfolio that includes an epithermal gold project in Argentina, a district–scale frontier gold opportunity in Paraguay, a base-metal project in the heart of a leading mining district in Chile and more than 180,000 hectares of properties in Argentina.

The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO

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

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.

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SOURCE Golden Arrow Resources Corporation

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VIRGINIA CITY, Nev., Sept. 22, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Mercury Clean Up LLC (“MCU”) today announced that Clean Mercury Remediation Technologies (“CMRT”), MCU’s Philippine Inc.’s joint venture, has received its remaining permit and commenced full operations in the venture’s first commercial mercury remediation system in the province of Davao D’ Oro, Philippines.

“We are pleased to restart and initiate sales as we remediate mercury contamination and return the local environment back to its natural state,” said Comstock’s Executive Chairman and Chief Executive Officer, Corrado DeGasperis.

Artisanal and Small Scale Gold Mining (ASGM)

Mercury‐dependent ASGM uses a process known as amalgamation to dissolve gold from natural deposits. The amalgam is then typically isolated by hand and then heated to distill the mercury and isolate the gold. Problematically, mercury is hazardous to human health and the environment, where residual ASGM wastes contaminate water and soil and bioaccumulate into the food chains. The risks to children are also substantial, with mercury emissions from ASGM resulting in both physical and mental disabilities and compromised development. The amalgamation process was regulated into extinction by most countries, but upwards of 20 million people in more than 70 countries still use mercury to mine for gold, making mercury pollution a U.N. prioritized global issue through the Minamata Convention.

Proprietary Remediation and Extraction Process

The Naboc River in Davao D’ Oro has long been a channel for effluents of mining activities, with hundreds of historical mining operations without sufficient tailing ponds to prevent releases of toxic, mercury-laden discharges. That history is evidenced by high levels of mercury and other contaminants in the local ecosystem, according to the Philippine’s Department of Environment and Natural Resources (DENR).

MCU’s Davao D’Oro facility is designed to remediate mercury contamination from the entire local ecosystem, thereby reviving a 24 kilometer stretch of the Naboc River and restoring all of its downstream irrigation systems for safe use, while extracting and selling residual gold and cleaned sand, soil and gravel co-products for multiple high-margin revenue streams.

“The Davao D’Oro facility is expected to produce pre-tax operating income, depending on yields,” continued DeGasperis. “Our deployment plans for MCU involve sustained growth through continued expansion with many additional facilities after moving into positive cash flows with the Davao D’Oro facility over the next few months.”

A photo accompanying this announcement is available here.

About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so.

Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

New 18-month credit facilities with Asahi and Samsung underpin the company's working capital position to execute on growth objectives

TSX: GPR | NYSE American: GPL

VANCOUVER, BC, Sept. 21, 2021 /CNW/ – Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing gold and silver producer focused on the Americas, announces that it has entered into a $20 million gold doré prepayment agreement (the "Doré Agreement") with Asahi Refining Canada Ltd. ("Asahi"), a wholly owned subsidiary of Asahi Holdings, Inc., as well as a $5 million lead concentrate prepayment agreement (the "Concentrate Agreement") with Samsung C&T U.K. Ltd. ("Samsung"), a wholly owned subsidiary of Samsung C&T Corporation.

"The new credit facilities contribute an additional $25 million in working capital funding, providing us with increased financial strength and flexibility to execute on our objectives of replacing resources, extending mine life, and unlocking the regional potential of the Tucano Gold Mine," stated Sandra Daycock, Great Panther's Chief Financial Officer. "We thank our lenders for their continued support and endorsement of the long-term potential of our assets."

Rob Henderson, President and CEO of Great Panther, added: "We have long-standing and highly valued relationships with both Asahi and Samsung and these transactions further solidify those partnerships. Our goal is to grow the Company with the objective of safely, sustainably and profitably producing gold and silver for the benefit of all our stakeholders. This year has not been without its challenges; however, we remain committed to generating shared value through our operations and these new funding facilities are a testament to our lenders' support of and belief in this mission."

Under the Doré Agreement, Asahi has agreed to advance a $20 million prepayment (the "Asahi Advance") to Great Panther in consideration for the equivalent value in gold ("the Prepaid Doré"), to be delivered over a 12-month period in installments of equal value commencing in April 2022. The Prepaid Doré will be sold at a 0.5% discount to the spot price of gold at the time of delivery and will be used to offset repayments of the Asahi Advance. The Asahi Advance will bear interest at an annual rate of 1-month USD LIBOR plus 4.75% and is secured by a pledge of all equity interests in Great Panther's Brazilian subsidiary, Mina Tucano Ltda, which owns the Tucano Gold Mine. Great Panther has a full option for early repayment of the Asahi Advance, subject to a 3% penalty applied to the outstanding balance at the time of repayment. The Doré Agreement also provides exclusivity on refining and gold sales for 100% of the remaining production of the Tucano Gold Mine during the term of the agreement.

Under the Concentrate Agreement, Samsung has agreed to advance a $5 million prepayment (the "Samsung Advance") to Great Panther's Mexican subsidiary, Minera Mexicana El Rosario S.A. de C.V. ("MMR") in consideration for exclusive offtake of the lead concentrate production from the Topia Mine ("the Concentrate"), up to a maximum contract quantity of 5400 DMT representing approximately 21 months of production from the mine. The Concentrate Agreement also gives Samsung a right of first offer on an additional 12 months of concentrate. The Samsung Advance has an 18-month term and will be repaid in equal monthly instalments commencing in April 2022. It will bear interest at an annual rate of 3-month USD LIBOR plus 6.5% and will be secured by a pledge of all equity interests in MMR. MMR has a full option for early repayment of the Advance, subject to a 3% penalty applied to the outstanding balance. The remaining balance of $3.2 million on the Company's existing gold doré agreement with Samsung has been repaid in full and cancelled and the pledge of shares to Samsung of the Company's shares in Mina Tucano Ltda has been released. Samsung's right of offer for concentrates produced from the Company's Coricancha Mine project in certain circumstances remains in effect.

ABOUT GREAT PANTHER

Great Panther is a growing gold and silver producer focused on the Americas. The Company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, an advanced development project and a large land package with district-scale potential. Great Panther is focused on creating long-term stakeholder value through safe and sustainable production, reinvesting into exploration and pursuing acquisition opportunities to complement its existing portfolio. Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, "forward-looking statements"). Such forward-looking statements may include, but are not limited to, statements regarding (i) the Company's ability to execute on its objectives of replacing resources, extending mine life, and unlocking the regional potential at the Tucano Gold Mine, and (ii) the Company's ability to achieve its long-term growth objectives

These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: continued operations and exploration work, including plans to complete infill drilling at Tucano, in 2021 occur without significant interruption due to COVID-19 or any other reason; the accuracy of the Company's geological modeling at Tucano and the assumptions upon which they are based, ore grades and recoveries; prices for gold, silver, and base metals remaining as estimated; currency exchange rates remaining as estimated; prices for energy inputs, labour, materials, supplies and services (including transportation); all necessary permits, licenses and regulatory approvals for the Company's operations and exploration work are received in a timely manner on favourable terms, Tucano will be able to continue to use cyanide in its operations; the Company will not be required to further impair Tucano as the current open pit mineral reserves are depleted through mining; the ability to procure equipment and operating supplies without interruption and that there are no material unanticipated variations in the cost of energy or supplies; operations not being disrupted by issues such as pit-wall failures or instability, mechanical failures, labour disturbances and workforce shortages, illegal occupations or mining, seismic events, and adverse weather conditions; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to: the impact of COVID-19 on the Company's ability to operate and conduct exploration work, including drilling plans, as anticipated, and the risk of an unplanned partial or full shutdown of the Company's mines and processing plants, whether voluntary or imposed, which would adversely impact the Company's revenues, financial condition and ability to meet its production and cost guidance and fund its capital programs and repay its indebtedness; the inherent risk that estimates of Mineral Reserves and Resources may not be accurate and accordingly that mine production will not be as estimated or predicted; planned exploration activities, including plans for further infill drilling at TAP C, may not result in the discovery of new Mineral Resources/definition of Mineral Resources and readers are cautioned that Mineral Resources that are not Mineral Reserves have no defined economic viability; there is no certainty that the Company will be able to define a mineral resource for the TAP C deposits and the Company is not treating the AMC historical estimate as a current mineral resource estimate; open pit mining operations at Tucano have a limited established mine life and the Company may not be able to extend the mine life for Tucano open pit operations beyond 2023 as anticipated; gold, silver and base metal prices may decline or may be less than forecasted; fluctuations in currency exchange rates (including the U.S. dollar to Brazilian real exchange rate) may increase costs of operations; operational and physical risks inherent in mining operations (including pit wall collapses, tailings storage facility failures, environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather) may result in unforeseen costs, shut downs, delays in production and drilling and exposure to liability; potential political and social risks involving Great Panther's operations in a foreign jurisdiction; the potential for unexpected costs and expenses or overruns; shortages in the ability to procure equipment and operating supplies without interruption; employee and contractor relations; relationships with, and claims by, local communities; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner on favourable terms; changes in laws, regulations and government practices in the jurisdictions in which the Company operates; legal restrictions related to mining; diminishing quantities or grades of mineral reserves as properties are mined operating or technical difficulties in mineral exploration, changes in project parameters as plans continue to be refined; the Company's inability to meet its production forecasts or to generate the anticipated cash flows from operations could result in the Company's inability to meet its scheduled debt payments when due or to meet financial covenants to which the Company is subject or to fund its exploration programs as planned; ability to maintain and renew agreements with local communities to support continued operations; there is no assurance that the Company will be able to identify or complete acquisition opportunities of, if completed, that such acquisitions will be accretive to the Company; and other risks and uncertainties, including those described in respect of Great Panther, in its most recent annual information form and material change reports filed with the Canadian Securities Administrators available at www.sedar.com and reports on Form 40-F and Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov.

There is no assurance that these forward-looking statements will prove accurate or that actual results will not vary materially from these forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

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SOURCE Great Panther Mining Limited

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