(Reuters) – Rio Tinto and Canadian union Unifor have reached a labour agreement in principle for the global miner's operations in the western Canadian province of British Columbia, the company said on Sunday.

The agreement comes after weeks of second-round talks between the two parties after the first round of negotiations over proposed changes to workers' retirement benefits and unresolved grievances had failed to go through in July.

Unifor, which represents about 900 workers at the miner's aluminium smelting plant in Kitimat and power generating facility in Kemano, had started a strike action at BC Works in July after the failed first round of talks.

"Both parties are satisfied that the proposed agreement will provide a foundation for respect in the workplace and underpin a competitive and sustainable future for BC Works," Rio Tinto said in a statement on its website on Sunday.

Both parties, however, refrained from revealing the details of the agreement until Unifor presented the proposed deal to its members and sought a ratification vote, which is expected to be conducted in the coming days, Rio added.

(Reporting by Sameer Manekar in Bengaluru; Editing by Emelia Sithole-Matarise)

(Bloomberg) — In the Outback’s blistering-hot mining sites, the hours are long and the flies relentless. Now, in a bid to attract skilled workers and overcome a labor supply crunch, Australia’s iron ore companies are turning to Olympic-sized swimming pools, virtual golf arcades and fine dining.

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When production starts at Mineral Resources Ltd.’s Ashburton iron ore hub around mid-2023, staff will be offered what it calls resort-style accommodation twice the size of the industry average, featuring a queen-sized bed, kitchen and lounge areas. And to overcome the strains of working remotely, a full-time mental health consultant will be on hand.

“We want to figure out how to make sure we keep the people that are working for us with us until they retire,” the company’s chief executive, Chris Ellison, said.

Meanwhile, the mining giants are also upping their game. BHP Group’s South Flank, which started production in June, features a worker village with a pool, tennis and squash courts, an indoor golf range and a range of bars and restaurants.

And Rio Tinto Group is seeking workers for its $2.6 billion Gudai-Darri project, due to start early next year, promising them comfortable living and high-speed connectivity at a site where workers will “genuinely respect each other.”

It’s a far cry from the industry’s traditional image of so-called fly-in, fly-out workers — flown in to work at mines in the desert for weeks at a time — being offered accommodation in sites resembling testosterone-fueled, heavy-drinking boot-camps, and sleeping in tiny rooms known as dongas after grueling 12-hour shifts.

The industry is also trying to clean up its sites after coming under attack due to sexual harassment claims made by women. BHP fired dozens of workers after it verified the claims, including substantiated allegations of rape. Rio also responded with steps to improve safety for female workers at its mines, including a buddy system, greater supervision and training, shorter rosters and a four-drink daily limit on alcohol consumption. BHP also has a four-drink cut-off at its sites.

“We’re trying to soften the sites down to attract a more diverse workforce,” Ellison said.

Read: Mining Giants Face a Sexual Harassment Reckoning as BHP Fires 48

Mining companies know the ability to attract workers to their sites, and then keep them, is crucial. Despite an historic crash in iron ore prices this week to a 16-month low of $90, major miners like BHP and Rio still profit given their cost of production can be less than $20 per ton.

They’re also used to volatile prices swings, so their hunt for talent is unlikely to change for now. Iron ore is responsible for about a third of Australia’s export revenue, or a record A$152 billion ($110 billion) in the year to June 30. while the industry employs around 280,000 people.

A recent report showed Western Australia’s resources industry needs to attract as many as 40,000 extra workers over the next two years or risk delays and potential postponement of some A$140 billion in projects. That challenge has been further complicated by the state’s border closures to keep out Covid-19, while workers are also often headhunted to work in high-skilled industries such as tech and finance, despite being offered wages around double the national average at the mines.

For Mineral Resources, it’s not only about attracting and keeping the best workers: Ellison says it’s just as important to provide a safe and comfortable environment which supports the mental well-being of employees. The company is breaking the mold by planning to build accommodation to suit couples and families, seeking to get them to permanently reside and play an active part in the local community.

Still, the bulk of Western Australia’s mining-site workforce is destined to remain tied to their homes and families based hundreds of miles away, and from whom they need to remain physically distanced from for sometimes weeks at a time. Mineral Resources’ head of mental health, Chris Harris, said fly-in, fly-out workers suffered twice as much psychological distress as other Australian workers.

“Some of those challenges are just the nature of sector,” Harris said. “The question is: how do we support people to navigate those challenges?”

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The major global iron-ore producers— BHP Group Vale and Rio Tinto —look appealing after the recent sharp declines in their stock prices because they are now discounting lower commodity prices. The stocks are discounting an iron-ore price of $86.37 a metric ton, against the current spot price of $107 a ton, Chris LaFemina, a Jefferies analyst, says in a note titled “What Iron Price is Priced In.” “If the reality in China is a soft landing in which the government manages the Evergrande collapse without causing contagion, these shares are undervalued and would likely outperform,” he wrote.

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So when we looked at the ROCE trend of BHP Group (ASX:BHP) we really liked what we saw.

Return On Capital Employed (ROCE): What is it?

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on BHP Group is:

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

0.32 = US$30b ÷ (US$109b – US$16b) (Based on the trailing twelve months to June 2021).

Thus, BHP Group has an ROCE of 32%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 9.8%.

View our latest analysis for BHP Group

In the above chart we have measured BHP Group's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

What The Trend Of ROCE Can Tell Us

BHP Group is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 619% in that same time. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.

In Conclusion…

As discussed above, BHP Group appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. And a remarkable 138% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

BHP Group does come with some risks though, we found 4 warning signs in our investment analysis, and 1 of those is concerning…

BHP Group is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.

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.

SASKATOON, Saskatchewan, Sept. 23, 2021 (GLOBE NEWSWIRE) — Cameco (TSX: CCO; NYSE: CCJ), GE Hitachi Nuclear Energy (GEH), GEH SMR Technologies Canada, Ltd. (GEH SMR Canada) and Synthos Green Energy (SGE), a member of the Synthos Group S.A., have entered into a Memorandum of Understanding (MOU) to evaluate the potential establishment of a uranium fuel supply chain in Canada capable of servicing a potential fleet of BWRX-300 small modular reactors (SMRs) in Poland.

Synthos, a manufacturer of synthetic rubber and one of the biggest producers of chemical raw materials in Poland, is interested in obtaining affordable, on-demand, carbon-free electricity from a dependable, dedicated source. In 2019 SGE and GEH agreed to collaborate on potential deployment applications for the BWRX-300 in Poland. SGE and GEH signed a strategic agreement in 2020 that further advanced the cooperation.

Cameco supplies uranium, uranium refining and conversion services to the nuclear industry worldwide. In July 2021, Cameco, GEH and Global Nuclear Fuel-Americas (GNF-A) agreed to explore several areas of cooperation to advance the commercialization and deployment of BWRX-300 SMRs in Canada and around the world.

“We believe nuclear energy will play a major role in helping countries and companies around the world achieve their net-zero emission targets,” said Cameco president and CEO Tim Gitzel. “This MOU is a great example of the kind of innovative solutions businesses like Synthos Green Energy are exploring and how SMRs could contribute to industry-driven efforts to decarbonize.”

“We look forward to working with Cameco and GEH in understanding the uranium requirements for a fleet of BWRX-300s in Poland and the support that Canada has to offer,” said Rafał Kasprów, President of the Board of SGE. “In addition to this MOU, SGE is working closely with GEH to identify supply chain opportunities in Poland that complement the export capabilities being developed in Canada for the BWRX-300, which could enable us to successfully deliver carbon-free electricity to the grid.”

“GEH is honored to be working with Cameco and Synthos Green Energy to deploy the BWRX-300,” said Jay Wileman, President & CEO, GEH. “Through our collaboration we look forward to the opportunity to bring carbon-free energy generation to Poland and support the creation of valuable uranium supply jobs in Canada.”

The BWRX-300 is a 300 MWe water-cooled, natural circulation SMR with passive safety systems that leverages the design and licensing basis of GEH’s U.S. NRC-certified ESBWR. Through dramatic and innovative design simplification, GEH projects the BWRX-300 will require significantly less capital cost per MW when compared to other SMR designs. By leveraging the existing ESBWR design certification, utilizing the licensed and proven GNF2 fuel design, and incorporating proven components and supply chain expertise, GEH believes the BWRX-300 can become the lowest-risk, most cost-competitive and quickest to market SMR.

This MOU is non-exclusive and non-binding.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: the intention of Cameco, GEH, GEH SMR Canada and SGE to evaluate the potential establishment of a uranium fuel supply chain in Canada capable of servicing SMRs in Poland; SGE’s interest in obtaining affordable, on-demand, carbon-free electricity; the ability of Cameco, GEH and GNF-A to explore advancing the commercialization and deployment of BWRX-300 SMRs in Canada and around the world; our view that nuclear energy will play a major role in achieving net-zero emission targets and the ability of SMRs to contribute to decarbonization; the efforts of SGE and GEH to identify supply chain opportunities in Poland that complement export capabilities being developed in Canada for the BWRX-300 that could provide carbon-free electricity in Poland; the potential to create additional uranium supply-related employment in Canada; the expectation of GEH that the BWRX-300 will require significantly less capital cost than other SMR designs; and GEH’s belief that the BWRX-300 could become a low-risk, cost-competitive and quickest to market SMR. This forward-looking information is based on a number of assumptions, including assumptions regarding: the ability of Cameco, GEH, GEH SMR Canada and SGE to potentially establish a uranium fuel supply chain in Canada capable of servicing SMRs in Poland; the ability to commercialize and deploy BWRX-300 SMRs successfully in Canada and around the world; the ability of nuclear energy and SMRs to contribute to decarbonization; the potential for success in providing carbon-free electricity in Poland and additional employment opportunities in Canada; the capital cost requirements for the BWRX-300; and the speed and costs involved in bringing the BWRX-300 to market. This information is subject to a number of risks, including: the risk that a uranium fuel supply chain to service SMRs in Poland may not be successfully established; the risk that the BWRX-300 may not be commercialized and deployed within the expected time and at the expected costs, or at all; the risk that nuclear energy and SMRs may not contribute to decarbonization to the extent expected; and the risk that it may not prove possible for the parties to provide carbon-free electricity in Poland or create additional employment opportunities in Canada. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com

BEDFORD, NS / ACCESSWIRE / September 23, 2021 / Ginoogaming First Nation ("Ginoogaming" or "First Nation") and Silver Spruce Resources Inc. ("Silver Spruce") (TSXV:SSE)(FRA:S6Q1) are pleased to announce entering into an exploration agreement by which Ginoogaming in exercising its inherent jurisdiction has issued its permit and approval to Silver Spruce to undertake mineral exploration in part of Ginoogaming's territory known as Melchett Lake, in northwestern Ontario.

"We are happy to see things progress the way they should be done," says Chief Sheri Taylor. "The company sought our community's consent and is prepared to meet the conditions required to obtain that consent, so we the government of the First Nation community issued our permit containing those conditions."

"The Ontario Crown government, through ENDM, routinely does its "consultation" on exploration through a form letter and formula timeframes with little else. This is not near enough. So First Nations are compelled to turn to the company. If the company is respectful of our right to free, prior and informed consent, then this gets us a positive result, as is the case in our current collaboration with Silver Spruce," says Ginoogaming lands staff person Peter Rasevych.

"The agreement with Silver Spruce contains measures to accommodate and address Ginoogaming's concerns about our cultural and heritage values in the area including through a study and a First Nation monitor to identify and protect such values prior to intrusive exploration activities. It provides for high standards and First Nation input on land use, environmental management and plans of the company. This is all to prevent and minimize impacts. And for those impacts that remain, it provides offsetting benefits like priority access to training, employment, contracting, and compensation and coverage for process costs. If the company wants to move toward a mine, then the exploration agreement provides for the need for a mine impact benefit agreement first," says Ginoogaming's lawyer Kate Kempton from OKT Law.

"We are very pleased to be in this mutually respectful and consent-based relationship with Ginoogaming and look forward to working with them over the years to come," stated Greg Davison, Silver Spruce VP Exploration and Director. "With Silver Spruce fully engaged in this collaboration, it will ensure smooth operations as we advance our mineral exploration programs in and around Melchett Lake."

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

For more information on the situation, please contact:

Ginoogaming First Nation
Chief Sheri Taylor
807-876-2242
sheri.taylor@ginoogamingfn.ca

Silver Spruce Resources Inc.

Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresources.com

info@silverspruceresources.com
www.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

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

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

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/665284/Ginoogaming-First-Nation-Signs-Exploration-Agreement-with-Silver-Spruce-Resources-Inc

The last 60 days have been a brutal stretch for iron investors.

As a result of China cutting back on iron ore production as a means of reducing pollution, the iron and steel sectors have both been walloped.

Iron ore prices have collapsed about 60% since a record in May. And in less than two months, three of the world's largest ore miners, Rio Tinto, BHP and Vale have lost roughly $110 billion in market value.

What can we say? It’s tough being Iron Man.

But if you’ve been sniffing around the ore space waiting for the right time to get in, this could be it. China’s restrictions may provide short-term pain for investors, but the planet’s need for iron ore and steel isn’t going away.

Here are four iron-related investments that might be worth pouncing on ⁠— maybe even with your spare change.

1. Rio Tinto (RIO)

Rio Tinto, despite its stock being down almost 30% since the end of July, may be the most intriguing option out there. As one of the world’s largest producers of iron ore, Rio’s shares may be the ones most likely to benefit from an eventual rebound.

In addition to the 16 mines Rio operates in Australia, it also has projects in Serbia, Canada, Mongolia, Guinea and the U.S.

Rio Tinto is not solely an iron play. The company produces a variety of products — copper, diamonds, titanium, aluminum — that the world needs a continual supply of.

Its extensive reach has led to some serious profits: Earnings over the first half of 2021 were $12.2 billion, leading to an interim dividend of $5.61 per share.

Rio Tinto currently trades at just under $70 per share. But you can get a piece of Rio Tinto using a popular stock trading app that allows you to buy fractions of shares with as much money as you’re willing to spend.

2. Vale SA (VALE)

Shares in Brazil’s Vale SA have lost about 13% of their value in the last month, but a massive first six months of 2021 led the company to announce $7.6 billion in first-half dividends.

That’s the largest payout to investors since 2019.

Vale says it is the world’s largest producer of iron ore and iron pellets. Its biggest operation is its iron ore mine in Carajas, Brazil, one of the richest iron deposits in the world, but it also runs a plant in Oman and has various stakes in joint ventures in China.

In the most recent quarter, Vale posted earnings of $7.6 billion, up more than 600% year-over-year. To be sure, those results were helped by higher iron ore prices at the time.

But with the company on track to hit 2021 guidance of between 315 and 335 million tons of ore production, Vale remains a potent bet on the steelmaking metal.

3. BHP Group (BHP)

Australia’s BHP Group has fared even worse than its competitors over the last two months, with its stock losing more than 40% of its value since July 29.

Like Rio Tinto, BHP is involved in more than just iron ore mining. It also has its fingers in petroleum, coal and copper, which makes it a somewhat diversified play.

BHP has been receiving lukewarm assessments from analysts. Zacks, Berenberg Bank and Deutsche Bank all recently rated the company a “hold”, while Liberium Capital downgraded BHG from “hold” to “sell” in July.

The company reported profits of $25.9 billion for the financial year ending June 30. And with BHP having generated $19.3 billion in free cash flow over the past 12 months, it should have some cushion to weather the current storm afflicting iron ore.

If you're still cautious about buying into BHP, some investing apps will give you a free share of BHP just for signing up.

4. VanEck Vectors Steel ETF (SLX)

The VanEck Vectors Steel ETF was riding high from May to August, as rising iron ore prices lifted the fund to its highest value since July of 2011.

The last month has seen the price of SLX shares shrink by about 11%, but compared to the individual companies featured here, that’s not so bad.

SLX tracks the performance of some of the world’s biggest ore producers, including Rio Tinto and Vale, but it also holds large steelmakers including Arcelormittal, Nucor, and U.S. Steel. This bit of diversification should help spread some of your risks around in the event iron ore hits the skids once again.

As of Sept. 21, shares in SLX were selling for around $54.53. The most recent dividend paid out was $0.83 a share in December of 2020.

A quieter commodity play

If the volatility in iron ore markets has you questioning your future as an iron/steel investor, there’s another asset that also provides exposure to rising commodity prices: U.S. farmland.

An investment in farmland allows you to profit from both rising food prices, which should only keep increasing as the global demand for food intensifies, and a rapidly decreasing amount of arable land.

An investment in farmland can also be considered an investment in sustainability.

It’s become a hot topic among ESG investors, and will only continue to grow in prominence now that it’s so easy to invest in.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

(Bloomberg) — A bidding war for a small Canadian nickel miner is showing no signs of cooling as its largest shareholder, Australian mining magnate Andrew Forrest, took a formal step to increase ownership.

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Forrest’s Wyloo Metals Pty Ltd. said it notified Noront Resources Ltd. to swap its $15 million convertible loan for common shares of Noront. That will increase Wyloo’s equity ownership to about 37.3% from 24.2%, according to a statement Wednesday.

Wyloo has offered to buy Noront for C$0.70 per share, beating the C$0.55 offer made by BHP Group in July that Noront’s board agreed to support. Wyloo said last month its proposal is more likely to succeed because it owns a chunk of Noront’s shares and doesn’t intend to support BHP’s offer.

Mining heavyweight are racing to control more supplies of raw materials that are key to the transition to low-carbon energy sources. Noront has been developing one of Canada’s largest potential mineral reserves, in a largely untapped northern Ontario region dubbed the Ring of Fire. Nickel is one of the key metals used in batteries for electric vehicles.

Canadian Nickel Miner Still Wants BHP Takeover, Shunning Forrest

Mining Magnate Forrest Snubs BHP Offer to Buy His Noront Shares

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Vancouver, British Columbia–(Newsfile Corp. – September 22, 2021) – Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that it has completed its maiden diamond drill ("DDH") program at the Kliyul copper-gold porphyry project ("Kliyul" or "Project"), located in the prolific Quesnel Trough in Northwest British Columbia.

Highlights:

• All of the drill holes encountered classic copper-gold porphyry-style mineralization consisting of sulphides pyrite, chalcopyrite and lesser bornite in veins and as disseminations.

• Mineralization at the Kliyul Main Zone ("KMZ") was successfully extended to the west and to depth.

• A new copper skarn prospect was identified approximately 800 m to the southeast of the KMZ.

Description of DDH intercepts

All three holes encountered porphyry-style mineralization consisting of pyrite, chalcopyrite and lesser bornite in veins and as disseminations. Early magnetite-chlorite alteration and veining is cross cut by later-stage banded quartz-magnetite veins as well as later generations of quartz+magnetite+chalcopyrite veining. Later stage veining brings in chalcopyrite+bornite with quartz as well as epidote and/or anhydrite+magnetite. Early magnetite and quartz-magnetite veins are interpreted to represent the higher temperature part of the porphyry system at KMZ. The presence of bornite is also an indication of proximity to the higher temperature core of a porphyry system and is a positive vector towards the core of KMZ.

• DDH KLI-21-036: This hole was targeted to test for extensions of mineralized zones encountered at depth during 2006 drilling. The hole ended in a late-mineral intrusion at 449 m but had to be terminated due to the drill pad failing.

Figure 1: Chalcopyrite+pyrite mineralization in KLI-21-036 at 294.50 m

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_001full.jpg

• DDH KLI-21-037: Targeted to infill and test for extensions of mineralization to the west of KMZ and was terminated at a depth of 579 m. This DDH was successful in extending mineralization to the west and at depth. Porphyry-style veining was observed throughout the entire length of the hole.

Figure 2: Chalcopyrite+pyrite mineralization in KLI-21-037 at 121 m

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_002full.jpg

• DDH KLI-21-038: This DDH targeted the interpreted centre of the porphyry system and was designed to test for mineralization at depth. The hole ended in mineralization at 516 m but was terminated due to difficult ground conditions.

Figure 3: Chalcopyrite+bornite mineralization at 345.05 m in KLI-21-038

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_003full.jpg

Due to delays caused by forest fires at the beginning of the exploration season and a shortage of experienced drillers, Pacific Ridge was only able to complete 1,544 m of the planned 2,500 m before winter conditions set in. With a shortened season and suboptimal drilling rates, Pacific Ridge focused on the KMZ target and opted to defer testing the Kliyul East and Kliyul West targets (see Figures 4, 5, and 6). Pacific Ridge plans to test these and other targets in 2022. Assay results from the 2021 drill program will be released as soon as they are available.

"Although we weren't able to achieve 2,500 metres of drilling due to wildfires and a lack of experienced drillers, we are very pleased with the drilling that we did complete," said Blaine Monaghan, President & CEO of Pacific Ridge. "Based upon the mineralization styles observed in the 2021 diamond drill cores, we are confident that we will equal or better the historic drilling results from the Kliyul Main Zone. In addition to the Kliyul Main Zone, significant targets remain insufficiently tested at Kliyul. The findings from our maiden 2021 drill campaign will be used to build an expanded drilling program in 2022."

Figure 4: Plan view of 2021 drill holes and significant, historic drill intercepts (see Table 1)

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_004full.jpg

Figure 5: Plan view of 2021 drill holes, significant, historic drill intercepts (see Table 1), and colour-contoured IP chargeability inversion

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_005full.jpg

Figure 6: Cross-section of 2021 drill holes and significant, historic drill intercepts (see Table 1)

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_006full.jpg

Table 1

Significant, historic drill intercepts

*CuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($2.25 x 22.0642)
*AuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($1,650 x 0.032515)

New copper skarn prospect

The 2021 property-scale mapping program discovered a previously unmapped copper skarn prospect, located approximately 800 m southeast of mineralization encountered in drilling at KMZ, which presents as chalcopyrite+bornite mineralized garnet-porphyroblastic marble within a carbonate sedimentary package. Outcropping mineralization is located at a break in the slope and extends over an approximate 20 m strike-length and has a minimum mapped thickness of approximately 1 m. True thickness is unknown due to talus cover. This prospect is located along a northwest trend of porphyry targets and favourable alteration, as further described in the section below. Numerous copper-gold porphyry systems worldwide are associated with skarn and carbonate-replacement deposits both distal and proximal to porphyry mineralization, thus this carbonate-hosted prospect represents an attractive target.

About the Kliyul Project

Over 60 km² in size, Kliyul is located 50 km southeast of Centerra Gold Inc's Kemess mine and 5 km from the Omineca mining road (see Figure 7) in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane. The Project contains five main target areas: KMZ, Bap Ridge, Ginger, M39, and Paprika (see Figure 8), each representing an interpreted porphyry centre within a 4 km northwest-trending strike length. KMZ is the most intensely explored with 33 drill holes (5,524 m) drilled since 1974, most of which targeted a near-surface copper-gold magnetite zone (drill holes KL-5 to KL-93-5). Deeper drilling during 2006 and 2015 encountered a porphyry copper-gold system (drill holes KL06-30 to KL-15-35).

The Project displays classic copper-gold porphyry patterns of alteration and mineralization. Geological interpretation, supported by geophysical surveys (IP, ground and aeromagnetics and magnetotellurics), suggests there is significant potential to expand the known dimensions of the Kliyul mineralized system.

Figure 7: Kliyul copper-gold porphyry project location

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/5460/97296_40d5379414b00b2d_007full.jpg

Figure 8: Kliyul target areas

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/5460/97296_pacifi2.jpg

Kliyul option agreement

Pacific Ridge has the right to earn a 51% interest in the Kliyul and Redton projects from Aurico Metals Inc., a wholly owned subsidiary of Centerra Gold Inc., by making cash payments totaling $100,000, issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The Company then has the right to increase its interest in the properties to 75% by making additional payments totaling $60,000, issuing 1.5 million shares and completing an additional $3.5 million in exploration by December 31, 2025.

About Pacific Ridge

Our goal is to become one of the leading copper-gold exploration companies in British Columbia. Pacific Ridge's flagship project is the Kliyul copper-gold project, located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold's Kemess mine. In addition to Kliyul, the Company's project portfolio includes the RDP copper-gold project and the Redton copper-gold project, both located in British Columbia. Pacific Ridge will continue to search for projects that offer discovery opportunity in our regions of expertise.

On behalf of the Board of Directors,

"Blaine Monaghan"

Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.

Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX

Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email: ir@pacificridgeexploration.com

¹Copper equivalent (CuEQ) is equal to ((Cu (per cent) multiplied by $2.25 multiplied by 22.0642) plus (Au (g/t) multiplied by $1,650 multiplied by 0.032151)) divided by ($2.25 multiplied by 22.0642).

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

The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Executive Chairman of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding testing Kliyul East and Kliyul West in 2022, an expanded drill program in 2022, confidence that the drill results from the 2021 drill program will equal or better historical drill results, and the potential to significantly expand the size of the Kliyul mineralized system, including the main porphyry mineralizer. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge 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 as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97296

Rio Tinto Plc RIO recently announced that it has partnered with leading global energy producer, EDL. Per the deal, EDL will expand an existing solar installation at Rio Tinto’s Weipa mine in Queensland. Australia. EDL will add a 4 MW solar power generating capacity and 4 MW/4 MWh of battery storage, which will effectively triple the supply of clean, reliable energy to Rio Tinto’s bauxite mine operations in Weipa and the remote township. This move is in sync with Rio Tinto’s focus on lowering its carbon footprint across its operations and marks a step toward its goal of attaining net zero emissions by 2050.

Rio Tinto’s Weipa operations includes three bauxite mines (East Weipa, Andoom and Amrun), processing facilities, shiploaders, an export wharf, two ports, power stations, a rail network and ferry terminals. The development of Amrun, its newest mine that was completed in 2018, has extended the life of the Weipa bauxite operations by several decades.

In 2015, Rio Tinto had announced the launch of the Weipa Solar plant, which was the largest solar facility at an off-grid Australian mine site at that time. It was a pathbreaking project, which exhibited the viability of renewable energy systems in remote locations. EDL will now build, own and operate a new 4 MW solar plant and 4 MW/4 MWh of battery storage at Weipa that will complement the existing 1.6 MW solar farm. Work on the project is expected to be completed by late next year.

Once operational, the combined 4 MW solar capacity and 4 MW/4 MWh battery will have an annual capacity of 11 gigawatt hours of energy. Combined with upgrades to the existing Weipa power generation network, it will effectively cut down Weipa Operations’ diesel consumption by around 7 million litres per year. It will also help lower its annual carbon dioxide emissions by about 20,000 tons — the equivalent of taking more than 3,750 cars off the road.

Rio Tinto has earmarked approximately $1 billion in investments over the next five years to get its operations down to net zero emissions by 2050. Earlier this month, the company announced that it has teamed up with Caterpillar, Inc. CAT to develop zero-emissions autonomous haul trucks for use at Gudai-Darri, which is Rio Tinto’s most technically advanced iron ore mine in the Pilbara region, Western Australia. Earlier in June, the company announced that it will deploy the world’s first fully autonomous water truck at its Gudai-Darri mine also in partnership with Caterpillar.

Price Performance

Image Source: Zacks Investment Research

In the past year, shares of Rio Tinto have gained 7.5%, compared with the industry’s growth of 9.0%.

Zacks Rank & Stocks to Consider

Rio Tinto currently has a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE and The Chemours Company CC.

Nucor has a projected earnings growth rate of around 508% for the current year. The company’s shares have soared 112% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 39% in the past year. It currently carries a Zacks Rank #2 (Buy).

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Zacks Investment Research

For Immediate Release

Chicago, IL – September 21, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Rio Tinto plc RIO, BHP Group BHP, Vale S.A. VALE and Fortescue Metals Group Ltd. FSUGY.

Here are highlights from Monday’s Analyst Blog:

Iron Ore Prices Fall Below $100 per Ton on Weak China Demand

Iron ore prices have plunged below $100 a ton for the first time since July 2020, as China — the world’s biggest steelmaker — intensified curbs on steel production to lower carbon emissions. Signs of a slowdown across China’s property sector have also acted as a drag on the main steel-making ingredient. Iron ore prices have more than halved from the record $230 per ton attained in May this year. It has lost 34% so far in 2021.

China’s Curb on Steel Output Weighs on Iron

The slump in iron ore makes it one of the worst-performing major commodities this year. This is in sharp contrast to the solid run it had last year, logging a solid gain of 80%. A combination of China’s massive infrastructure stimulus to recover from the pandemic-induced slump, which fueled demand for iron ore, and supply concerns in Brazil due to the coronavirus pandemic drove the prices up. After hitting the record high of $230 earlier this year, iron ore prices started losing steam as China clamped down on the steel industry, which given its high energy consumption and outdated technology and equipment, is one of the biggest contributors to pollution in the country. China has thus repeatedly urged steel mills to reduce output this year to curb carbon emissions.

China remains committed to its pledge reach carbon neutrality by 2060. The country intends to step up its production curbs in a bid to reduce pollution and ensure clearer air for the Winter Olympics coming up in February 2022. This is going to weigh on iron ore demand for the balance of the year.

Per the National Bureau of Statistics of China, the monthly crude steel production in the country was down 13.2% year over year, slipping for the third straight month to 83.24 million tons in August. Average daily output is at the lowest since March 2020. This reflects the impact of the implementation of production restrictions at steel mills.

China’s Property Sector Slowdown Hurts Further

Signs of a slowdown across China’s property sector have hit iron ore prices. The country’s property investment in August rose a meager 0.3% from a year ago — the slowest pace in 18 months.

It is lower than the rise of 1.4% in July, reflecting the tighter financing conditions. China's new home prices rose at their slowest pace in months, as authorities tried to rein in a red-hot property market, and cooling measures were expected to limit home price growth going forward.

China's property market is also grappling with problems at its second-largest property developer, Evergrande Group. It is currently the world's most indebted property developer, owing more than $300 billion in liabilities and nearing a possible default for an interest payment this week.

China Evergrande’s Hong Kong-listed shares fell 10.24% on Sep 17, which underscored concerns about the broader health of China’s real estate sector and triggered a wider sell-off.

Owing to the plunge in iron ore prices, iron ore producers including Rio Tinto, BHP Group, Vale and Fortescue Metals Group have seen their shares tumble 6.8% 13.8%, 8.9% and 22.9%, respectively, over the past month. All of these stocks carry a Zacks Rank #5 (Strong Sell) currently. Lower iron ore prices are expected to impact their results in the ongoing quarter.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

Neverthless, these miners will benefit from demand in rest of the world. The steel industry is showing promise as demand remains robust across construction and manufacturing sectors across rest of the world. Steel prices continue to race ahead, buoyed by an upturn in demand across key markets, tight supply conditions and low steel inventory throughout the supply chain.

The World Steel Association projects steel demand to grow 5.8% in 2021 and reach 1,874 million. In 2022, steel demand is expected to go up 2.7% to reach 1,924.6 Mt. In China, steel demand is expected to grow 3.0% in 2021 but will decline 1% in 2022 due to the intensified environmental push.

Meanwhile, steel demand will go up 8.2% and 4.2% in 2021 and 2022, respectively, in advanced economies. The ongoing recovery in automotive and construction sectors worldwide will drive demand for steel. In the United States, massive government spending to rebuild infrastructure including railroads, highways and bridges will significantly boost steel demand, thus fueling the need for iron ore.

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Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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BEDFORD, NS / ACCESSWIRE / September 21, 2021 / (TSXV:SSE) – Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") announces the receipt of all assays from the twenty holes of its Phase 1 exploration drilling at the El Mezquite Au-Ag property ("El Mezquite" or the "Property").

"We are pleased to report encouraging precious metal assays in nineteen of the first twenty holes drilled at El Mezquite. The second group of results returned gold values to 1.435 g/t Au. As noted previously, the drilling data are consistent with our exploration expectations for a low-grade, heap-leachable target with mineralization in the range of 0.1 g/t Au to 1.0 g/t Au," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "The latest drilling identified more and thicker intervals, the best assays to date and significant low-grade multi-metal haloes which point to the importance of the structural targets generated from the geological data compilation. Many of these targets remain to be drilled in a proposed Phase 2 program."

Figure 1. El Mezquite property showing RC rig from Layne de Mexico.

The Phase 1 RC program (see Figures 1 and 2) comprised 20 holes with a combined depth of 2,485 metres and utilized eight drill pad locations focused around a 400m x 600m area with elevated surface precious metal values to 3.41 g/t Au and 387 g/t Ag. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, alteration assemblages and coincident 3D IP chargeability anomalies.

A total of 77 sampling intervals, ranging from surface to 146.4 metres depth downhole, are shown in Tables 1a and 1b. Individual sections of >0.1 g/t Au include sample composites of up to five intervals (3.1 metres to 7.7 metres) with weighted grades from 0.121 g/t Au to 0.955 g/t Au. Silver values were generally low (98^th percentile – 17 g/t Ag) and ranged from <1 g/t Ag to 241 g/t Ag. Elevated Ag occurred commonly with higher Au and base metals.

"The mineralized intervals noted above reflected the observed scale estimated from current surface sampling on outcropping vein and structurally-controlled showings. Of importance to the geochemical interpretation, the pathfinder elements (Hg, Cu, Pb, Zn, Sb and As) with low grade Au often displayed well-defined metal haloes adjacent to notable Au values. These zones, which occurred in fourteen (14) drill holes, ranged from ten (10) to forty-three (43) metres, with seven intervals over 20 metres in apparent thickness downhole, within and peripheral to the multiple gold and silver-bearing intervals and potentially are indicative of a significant structurally-influenced, precious metal mineralizing system with vein, stockwork and disseminated sulphides and/or secondary oxides," said Greg Davison, Silver Spruce Vice-President Exploration and Director.

"Targets for Phase 2 drilling are being prepared from our ongoing geological, hyperspectral, LANDSAT and LiDAR compilation for inclusion in a revised environmental report submittal to the Mexican Secretariat of Environment and Natural Resources (SEMARNAT) for permitting," said Mr. Davison.

Figure 2. Drill collar location map for the El Mezquite property.

The Company's first-ever drilling program at El Mezquite (see Press Releases of August 5 and September 7, 2021) was completed in July with samples being submitted to ALS Global in Hermosillo in daily batches of 3-4 holes. The first seven (7) drill holes were completed on June 14^th. The remaining thirteen (13) holes were drilled with two RC rigs from Layne de Mexico and completed as scheduled on July 28^th.

Local drill management and oversight, packaging and shipping, logging, splitting and packaging of geochemical samples, quality control protocols and delivery to ALS Global were conducted under Servicios Geológicos IMEx ("IMEx") supervision at the El Mezquite property and at our option partner Colibri Resource's ("Colibri") office facilities in Hermosillo.

Sample splits (50%) were collected for geochemical analysis from 1.53 metre intervals throughout the length of each hole. Chip samples were split for logging from each interval, packaged in vials and organized in trays by drill hole. The remaining splits (50%) were stored at the project site and at Colibri's storage facility in Suaqui Grande.

Laboratory assay results were submitted between June 17^th and August 5^th. Data were received between July 15^th and August 24^th. Despite laboratory workloads which have impacted turnaround timelines, our samples were analysed in Vancouver and Lima, Peru to expedite completion.

Table 1a. Select assay intervals (>0.1 g/t Au) for the Phase 1 drilling program (MEZ001-MEZ-010).

Table 1b. Select assay intervals (>0.1 g/t Au) for the Phase 1 drilling program (MEZ011-MEZ-020).

RC Drill – Geological Logging

The drill hole geology was recurrent and logged primarily as light to dark green to grey-green, fine-grained phaneritic to porphyritic-textured andesite and dark grey mafic dykes exhibiting surface oxidation and transitional zones, weak to moderate propylitic alteration and at depth, abundant disseminated sulphides, chiefly pyrite, and/or magnetite. The andesite dykes contained elevated magnetite. Minor rhyolitic units may be feldspar-quartz intrusive dykes.

Oxidation reached depths of 3 metres to 24.4 metres above transitional intervals also measuring from 3 metres to 24.3 metres; hematite and manganese oxides identified as pyrolusite were noted in red to orange to orange-grey altered andesite with silicification and incipient argillic alteration noted in several drill holes (e.g., MEZ-21-17 and MEZ-21-19). The sulphide zone andesites were intersected at overall downhole depths of 12.2 metres to 36.6 metres and continued throughout to the base of the holes.

Pyrite (estimated 1-2 wt.%, max. 5 wt.%) was the dominant sulphide species with minor chalcopyrite, sphalerite and possible galena. Sulphides also occurred in quartz and quartz-carbonate veinlets with a stockwork-style distribution. Minor calcite-chlorite and quartz-gypsum vein sets were noted.

Project Background

El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 3).

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

The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the precious metals-rich Mojave-Sonora Megashear.

Figure 3. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite, 5km SE of Jackie.

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

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

The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by SEMARNAT. The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession. Individual holes achieved depths of 100-200 metres to intersect the target intervals.

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

Geochemical Analysis, Quality Assurance and Quality Control

Drill chip sample splits were delivered from the drill site to an in-house storage facility in Hermosillo for logging and QA/QC by IMEx, and then to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada. Local chain of custody was monitored and maintained by a professional senior geologist with IMEx.

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

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

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

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

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

Sample grades reported by element in the technical documentation and analytical certificates range from detection limit (based on the specific instrumentation and by element) to anomalous values which represent and include select samples and are reported as ‘up to' the maximum values and/or ranges presented. Average or weighted values may be reported for select suites of samples in which the sample frequency is indicated, and which only represent metal grades from those samples.

Qualified Person

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

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

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

Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresources.com

info@silverspruceresources.com
www.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

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

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

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/664939/Silver-Spruce-Reports-Final-Assays-from-Phase-1-Drilling-at-El-Mezquite-Au-Ag-Project-Sonora-Mexico

(Bloomberg) — Australia’s top three iron ore miners have shed a combined $109 billion in share value in less than two months — roughly equivalent to the market cap of General Electric Co. — following a record-breaking price rout.

It’s a dramatic reversal of fortunes for Rio Tinto Group, BHP Group and Fortescue Metals Group Ltd., which only last month were showering record dividends on shareholders after prices of the steel-making ingredient surged to an all-time high above $230 a ton in May. They’ve since plunged to near $90 as China stepped up curbs on steel production to meet environmental goals.

Rio Tinto, the world’s biggest ore producer, has retreated 29% from July 29, BHP is down 30% and Fortescue has plunged 44%. That adds up to value destruction of A$150 billion ($109 billion), Bloomberg calculations show. The three miners together account for more than 8% of Australia’s benchmark S&P/ASX 200 share index, which has slipped 2% over the period.

See also: Iron Ore’s Rout Keeps Rolling as China Imposes More Steel Curbs

There could be more weakness — both in iron ore and the miners’ shares — to come as Beijing doubles down on efforts to cut pollution before it hosts the Winter Olympics next February. The price rout has seen analysts scurrying to their spreadsheets to downgrade earnings forecasts for the big miners. Morgans Financial Ltd. slashed its share price target for Fortescue by more than a quarter to A$14.15 late last week and also trimmed targets for BHP and Rio.

“Despite trading back at lower levels, we remain cautious on our big miners, expecting more short-term weakness in iron ore to unfold,” Adrian Prendergast, resources analyst at Morgans, said in a note. BHP and Rio are “trading around accumulate territory, but again we remain cautious given the poor state of their largest exposure,” he said.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

Rio Tinto Group (LSE:RIO) investors are taken on a rollercoaster ride with the high success in the last 12 months, followed by the recent downfall of Iron Ore prices. Dividend yields for investors reached some 14%, however, the seemingly attractive yield may not be sustainable in light of the changing macro situation. We are going to overview the dividend policy and earnings potential for Rio Tinto, in order to see if the recent market volatility represents an opportunity or a convergence to true value.

Rio Tinto Group likely looks attractive to investors for the dividends, given its high dividend yield and a payment history of over ten years.

Some simple analysis can reduce the risk of holding Rio Tinto Group for its dividend, and we'll focus on the most important aspects below.

Explore this interactive chart for our latest analysis on Rio Tinto Group!

Payout ratios

Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable.

Rio Tinto Group paid out 60% of its profit as dividends, over the trailing twelve month period. This is a healthy payout ratio, and also gives the company some earnings to fund sustainable growth.

We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend.

Rio Tinto Group paid out a conservative 44% of its free cash flow as dividends last year. It's positive to see that Rio Tinto Group's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable.

While the above analysis focuses on dividends relative to a company's earnings, we do note Rio Tinto Group's strong net cash position, which will let it pay larger dividends for a time, should it choose.

Remember, you can always get a snapshot of Rio Tinto Group's latest financial position, by checking our visualisation of its financial health.

Dividend Sustainability Factors

Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. With recent, rapid earnings per share growth and a payout ratio of 60%, this business looks like an interesting prospect if earnings are reinvested effectively.

However, the company is massively dependent on iron ore prices, and their spike in the recent year has accounted for a large portion of their profit growth.

This scenario is unlikely to repeat, as Iron Ore prices are plummeting because of reduced demand in China. In the graph below, you can see the extent of the fall.

In their risk-factor outline (page 6), the company outlines "Credit conditions, cooling exports and softer housing market in China main risks to demand", which unfortunately seems to be currently materializing with the decline in demand from China, and the slowdown of the Chinese housing market stemming from Evergrande's financial distress.

With all that in mind, Rio Tinto is a great stock to watch and look for recovery points, since the company is using last year's great performance to stabilize debt and invest in growth projects with US$3.3b in CapEx.

Conclusion

To summarize, shareholders should always check that Rio Tinto Group's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. While the last 12 months were immensely successful to the point of the company declaring a special dividend, we see trouble on the horizon and Rio Tinto will have to cut back in order to stabilize.

The company is in great shape, working down its debt, financing new growth projects and finding sustainable replacements for expiring excavation sites.

Considering the dividends, Rio Tinto Group has an acceptable payout ratio and its dividend is well covered by cashflow, and while current investors were positively surprised, future investors will need to keep an eye out for any potential changes in the dividend payout.

Additionally, we've come across 3 warning signs for Rio Tinto Group you should be aware of, and 1 of them is a bit unpleasant.

If you are a dividend investor, you might also want to look at our curated list of dividend stocks yielding above 3%.

Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article 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.

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

Depressed demand for industrial commodities is seen, but these companies have strong balance sheets and low price-to-earnings multiples.

By Dhirendra Tripathi

Investing.com – Stocks of steel and iron-ore producers took a knock in global markets Monday on fears over the cascading impact of the crisis unfolding at real estate developer China Evergrande (OTC:EGRNY).

ADRs of ArcelorMittal (NYSE:MT) fell 5.5%, BHP (NYSE:BHP) 5.4%, Rio Tinto (NYSE:RIO) 6% and Vale (NYSE:VALE) 3% in Monday’s premarket trading on the NYSE. Elsewhere, Anglo American (LON:AAL) fell 7% in London and Fortescue Metals closed (ASX:FMG) 4% lower in Sydney.

Evergrande shares fell more than 10% to touch their 11-year low in Hong Kong trading as the beleaguered developer began to sell its assets at hefty discounts. Traders stayed jittery as China’s second largest property developer has a bond interest due Thursday, according to Reuters.

There are concerns that a default on its $300 billion of liabilities could crystallize broader risks in China's financial system.

Shares of metals and iron-ore have lately been under pressure as the world’s biggest consumer attempts to limit its steel output at last year’s level of around 1.05 billion tons. According to UBS, output is likely to be near 1.07 billion tons in 2021-22 and flat in 2022-23. This is around 5% lower than its previous forecast of 1.13 billion tons.

Also weighing on markets more broadly is uncertainty ahead of a suite of central bank meetings this week. most notably at the U.S. Federal Reserve.

The Fed begins its two-day meet Tuesday. All eyes are on the central bank’s likely commentary on the timeline of the tapering. According to Reuters, market consensus is that it will stick with broad plans to begin stimulus withdrawal this year but will hold off providing details on a timeline for at least a month.

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MELBOURNE, Australia, September 19, 2021–(BUSINESS WIRE)–Rio Tinto has approved a new solar farm and battery storage at Weipa in Queensland, in a move that will more than triple the local electricity network’s solar generation capacity and help provide cleaner power to Rio Tinto’s operations.

Under the plans, EDL has been contracted to build, own and operate a 4MW solar plant and 4MW/4MWh of battery storage at Weipa. Work on the battery facilities will start this year, with construction of the whole project expected to be complete by late 2022.

The new solar farm and battery storage will complement the existing 1.6MW solar farm at Weipa, which was completed in 2015 and is also owned and operated by EDL. The 4MWh battery system will be built next to the existing Weipa power station and will help provide a stable power network for Rio Tinto’s Weipa Operations bauxite mines and the Weipa township.

Rio Tinto Aluminium Pacific Bauxite Operations General Manager Michelle Elvy said "The new solar farm and battery storage at Weipa will help us lower our carbon footprint and diesel use in a reliable way.

"The original Weipa solar farm was the largest solar facility at an off-grid Australian mine site at the time it was built, and it played an important role in showing the viability of renewable energy systems in remote locations.

"The new solar farm and battery storage system is part of Rio Tinto’s group-wide commitment to reduce emissions across our operations. There is clearly more work to be done, but projects like this are an important part of meeting our climate targets."

EDL Chief Executive Officer James Harman said "We welcome the opportunity to continue supporting Rio Tinto to reduce carbon emissions.

"EDL will be leveraging expertise from our hybrid renewable energy systems around Australia to deliver clean and reliable energy for Rio Tinto’s operations and the local community."

When complete, the combined 4MW solar capacity and 4MW/4MWh battery will provide about 11 gigawatt hours of energy annually. Combined with upgrades to the existing Weipa power generation network, the improvements will reduce Weipa Operations’ diesel consumption by an estimated 7 million litres per year and lower its annual carbon dioxide emissions by about 20,000 tonnes – the equivalent of taking more than 3,750 cars off the road.

Rio Tinto Weipa Operations will purchase electricity from EDL and the new solar plant will be connected directly to the Weipa electricity network.

More information on Rio Tinto’s climate targets can be found here.

riotinto.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210919005041/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

Category: Weipa

BHP, Rio Tinto, Anglo American, Glencore, and Vale are now more disciplined in their spending and more vital for renewable power.

MELBOURNE, Australia, September 17, 2021–(BUSINESS WIRE)–Rio Tinto Iron Ore chief executive Simon Trott joined WA Health Minister Roger Cook today to open the Tom Price COVID-19 vaccination clinic aimed at boosting vaccination rates in the Pilbara, Western Australia.

The clinic, set up in partnership with Rio Tinto, WA’s Department of Health, WA Country Health Service and the Shire of Ashburton, will operate from 9am to 6pm at the Tom Price Community Centre from today through to 21 September. It will return in the coming weeks to enable the community to receive their second dose of the vaccine.

Vaccination bookings are available for all people who live or are currently in the region, including local and Aboriginal communities, Rio Tinto employees, contractors and their families. Walk-in appointments will also be welcomed.

Vaccine supply is sufficient to vaccinate the entire population of Tom Price over the age of 12, which is estimated to be about 3,000 people.

The WA Department of Health is also taking bookings for the Paraburdoo clinic, which is set to open to the community at Ashburton Hall on 23 September.

Rio Tinto is working with the WA Government to establish similar clinics in Pannawonica and Dampier, and stands ready to provide logistical support as required to assist with the vaccination rollout in remote Aboriginal communities.

The vaccination hubs at Perth Airport (T2 and T3) will open from 11 October, targeting workers returning to Perth, with bookings open from 27 September via rollup.wa.gov.au.

Rio Tinto is pleased to announce that the hubs will be available to Rio Tinto’s FIFO workforce who regularly travel to and from the Pilbara, as well as Western Australia’s wider FIFO mining industry who wish to utilise the facilities.

For further information or to make an appointment, visit rollup.wa.gov.au.

Rio Tinto Iron Ore chief executive Simon Trott urged all eligible community members in Tom Price to ‘roll up for WA’ and play their part in boosting vaccination rates in the Pilbara.

"We urge the local community to take advantage of having the clinic on their doorstep, and make an appointment as soon as possible. At the end of this blitz, we would love for Tom Price to be the most vaccinated town in Australia which would be a terrific outcome.

"By setting up and running the clinic in Tom Price, it allows the Department of Health to free up resources that can be used to prioritise vaccinations in remote Aboriginal communities, which is a vital part of WA’s pathway out of the pandemic.

"Rio Tinto is proud to work with the WA Government on this important partnership and will continue to look at ways to help to boost vaccination rates across regional WA."

View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005961/en/

Contacts

Please direct all enquiries to
Media.enquiries@riotinto.com

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Jamie Macdonald
M +61 467 725 517

Kate Barcham
M +61 438 990 238

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: Pilbara

In this article we will take a look at the some of notable stocks on the move today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are On the Move on Friday

It's another red day on Wall Street with all three major indexes lower. As of 11:28 AM eastern time, the Dow Jones index is down around 0.48%, the S&P 500 is 0.73% lower, and the NASDAQ has fallen around 0.87%. With a Federal Reserve meeting next week and September being a historically volatile month, it seems that some investors are a little bit more cautious than usual.

Some important stocks that are on the move on Friday include Moderna, Inc. (NASDAQ: MRNA), Lucid Group, Inc. (NASDAQ: LCID), BeiGene, Ltd. (NASDAQ:BGNE), BHP Group (NYSE:BBL), Thermo Fisher Scientific Inc. (NYSE:TMO), and SmileDirectClub, Inc. (NASDAQ:SDC), among others discussed in detail in this article.

Let's examine why each stock is trending and how elite funds are positioned among them.

Photo by Austin Distel on Unsplash

Why do we care about hedge fund fund activity? 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 SPY. Our stock picks outperformed the market by 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.

10. Lucid Group, Inc. (NASDAQ: LCID) shares continued their hot streak from yesterday with another 7% rally on Friday.

The electric car maker has momentum due to the EPA this week having given Lucid Group, Inc. (NASDAQ: LCID)'s Dream Air edition vehicle a range of 520 miles, the longest of any electric car that the agency has rated. Some analysts are bullish too. John Murphy of Bank of America said of Lucid on Thursday, "I think it's somewhat somewhere between a combination of Tesla and Ferrari." Murphy has a $30 price target.

For the filing period ended June 30, 2021, Philippe Laffont's Coatue Management owned more than 3.5 million shares of Lucid Group, Inc. (NASDAQ: LCID).

Like Moderna, Inc. (NASDAQ: MRNA) and Thermo Fisher Scientific Inc. (NYSE:TMO), Lucid Group, Inc. (NASDAQ: LCID) is on the move on Friday.

9. BeiGene, Ltd. (NASDAQ:BGNE) stock has rallied more than 4% after after the company announced it received positive CHMP opinion for Zanubrutinib for the potential treatment of adults with Waldenström’s Macroglobulinemia. After the positive CHMP positive opinion, the European Commission will need to consider BeiGene, Ltd. (NASDAQ:BGNE)'s marketing application for the drug candidate with a final decision expected within 67 days of receipt of the CHMP opinion. For the latest 13F filing period, Julian Baker And Felix Baker's Baker Bros. Advisors owned 11,668,897 shares of BeiGene, Ltd. (NASDAQ:BGNE), worth more than $4 billion as of June 30, 2021.

8. BHP Group (NYSE:BBL) is down around 4.5% due to weakness in iron ore prices.

Iron ore prices have weakened due to China pledging to limit steel output to better control carbon emissions. Iron ore accounts for a substantial part of BHP Group (NYSE:BBL)'s total business and China has been a major importer of iron ore. Although UBS analysts expect iron prices to slide below $100 a ton by 2021, they think China's decline in steel production could be due to the weak property market in the country.

Of the around 873 elite funds we track, 24 were long BHP Group (NYSE:BBL) at the end of Q2, 2021.

Like Moderna, Inc. (NASDAQ: MRNA), Lucid Group, Inc. (NASDAQ: LCID) and Thermo Fisher Scientific Inc. (NYSE:TMO), BHP Group (NYSE:BBL) is on the move on Friday.

7. Thermo Fisher Scientific Inc. (NYSE:TMO) shares have surged more than 8% after the company announced that it sees adjusted EPS of $21.16 for FY22 versus the consensus of $19.68. Thermo Fisher Scientific Inc. (NYSE:TMO) also sees FY22 revenue of $40.3 billion, which is also higher than the consensus fo $34.29 billion.

Of the around 873 elite funds we track, 87 were long Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, up from 79 in the first quarter.

6. SmileDirectClub, Inc. (NASDAQ:SDC) is up around 12.8% despite there being no fundamental news and the market being relatively weak. One potential reason could be Reddit traders, who have moved in and out of highly shorted stocks in the past. SmileDirectClub, Inc. (NASDAQ:SDC) has a short float of around 33%.

In terms of the funds we track, 19 elite funds were long SmileDirectClub, Inc. (NASDAQ:SDC) in Q2 2021, down 2 from the prior quarter.

Like Moderna, Inc. (NASDAQ: MRNA), Lucid Group, Inc. (NASDAQ: LCID), Thermo Fisher Scientific Inc. (NYSE:TMO) and BHP Group (NYSE:BBL), SmileDirectClub, Inc. (NASDAQ:SDC) is making moves on Friday. Click to continue reading and see Why These 5 Stocks Are On the Move on Friday. Suggested articles

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Disclosure: None.

The article Why These 10 Stocks Are On the Move on Friday was originally published on Insider Monkey.

TORONTO, Sept. 17, 2021 (GLOBE NEWSWIRE) — (TSXV: TVC) Three Valley Copper Corp. (“Three Valley Copper” or the “Company”) announces that it has applied for its common shares to be trading on the OTC Markets, “QB” level, a U.S. trading platform operated by the OTC Markets Group in New York. The listing of the Company's common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. As more information becomes available, the Company will keep its shareholders up to date on the status of the application.

The Company has already submitted its Form 211 to the Financial Industry Regulatory Authority (“FINRA”) which, if accepted, will qualify the Company’s shares to trade in the U.S. on the OTC market. The Company will also apply to the Depository Trust Company (“DTC”) for DTC eligibility which would greatly simplify the process of trading the Company’s common shares.

The OTCQB is the premiere marketplace for early stage and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors. Companies must be current in their financial reporting to undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. The OTCQB quality standards provide a strong baseline of transparency as well as the technology and regulation to improve the information and trading experience for investors. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. Investors can find real-time quote and market information for the Company, once listed, at https://www.otcmarkets.com.

The Company believes that trading on the OTCQB will provide additional liquidity and increase its visibility within the U.S. capital markets. Three Valley Copper will continue to trade on the TSX Venture Exchange under its symbol “TVC”.

Adoption of Long-Term Incentive Plan

The Company also announces it has adopted the long-term incentive plan (the “LTIP”) approved by disinterested shareholders of the Company at its annual general and special meeting of shareholders held on June 2, 2021 (the “Meeting”).

Under the new LTIP, stock options, restricted share units, deferred share units and stock appreciation rights may be granted to directors, officers, employees, service providers and consultants. The LTIP is intended to offer a broader range of incentives than the former stock option plan of the Company to diversify and customize the rewards for management and staff to promote long term retention.

The number of common shares of the Company to be issued under the LTIP, at any time, shall not exceed 10% of the total number of the issued and outstanding common shares. The LTIP provides for up to 10% of issued and outstanding common shares to be reserved for issuance under stock option grants on a “rolling” basis, in addition to a fixed maximum limit of 1,250,000 common shares of the Company reserved for issuance at any time pursuant to grants of restricted share units, deferred share units and stock appreciation rights.

The announcement of the adoption of the LTIP is being made to satisfy the requirements of TSX Venture Exchange Policy 4.4 – Incentive Stock Options. Further details regarding the LTIP are included in the management proxy circular of the Company, which was filed on SEDAR in connection with the Meeting. The LTIP remains subject to final approval by the TSX Venture Exchange.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, PTC Market Group Inc. connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how OTC Markets Group Inc. creates better informed and more efficient markets, visit www.otcmarkets.com.

About Three Valley Copper

Three Valley Copper, headquartered in Toronto, Ontario, Canada is focused on growing copper production from, and further exploration of, its primary asset, Minera Tres Valles. Located in Salamanca, Chile, MTV is 91.1% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploratory lands. For more information about the Company, please visit www.threevalleycopper.com.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release, contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to its application to FINRA to list on the OTC market, future trading of its common shares on such market and the benefits to shareholders, and the application for DTC eligibility.

Although Three Valley Copper believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including the listing application to the OTC Markets being approved. Although the Company believes that the expectations and assumptions on which such Forward-Looking Statements and information are based are reasonable, undue reliance should not be placed on the Forward-Looking Statements and information as the Company cannot give any assurance that they will prove to be correct. Since Forward-Looking Statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Other risk factors that could affect the Company's operations or financial results are included in the Company's Annual Information Form dated March 3, 2021 and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and Three Valley Copper does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.

For further information:

Michael Staresinic
Chief Executive Officer
T: (416) 943-7107
E: mstaresinic@threevalleycopper.com

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: Three Valley Copper.

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

Mining stocks came under renewed pressure in London on Friday, as iron-ore prices continued to slump amid China’s push to restrict steel production.

MELBOURNE, September 16, 2021–(BUSINESS WIRE)–On 2 March 2021 the Australian Taxation Office (ATO) issued Rio Tinto Limited with amended assessments related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. The borrowing was repaid in 2018.

The ATO has today issued further assessments in relation to the same transaction levying penalties of A$352m (US$257.9m) and reducing the original interest assessment from A$47m to A$27m (US$19.8m).

Borrowing to fund the payment of a dividend is a normal commercial practice. Rio Tinto is confident of its position and will dispute the primary tax and penalty assessments. In accordance with the usual practice Rio Tinto has paid 50% of the primary tax up-front as part of the objections process. Penalties and interest are not required to be paid until the primary tax matter is resolved.

Rio Tinto Limited paid more than A$8.4bn (US$6.4bn) of Australian income tax during the relevant period.

Please direct all enquiries to media.enquiries@riotinto.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210915006227/en/

Contacts

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

Category: General

(Bloomberg) — The Canadian firm behind the world’s only physical uranium fund said hedge funds and family offices are driving up demand for the radioactive metal used to fuel nuclear reactors.

The Sprott Physical Uranium Trust has itself been on a buying spree, bolstering its stockpile by 45% in four weeks after snapping up 8.1 million pounds of the commodity while prices soared. Uranium has surged 40% this month, putting pressure on utility owners and other users when supplies are dwindling and demand is set to take off thanks to more reactors being built around the world.

“I don’t think we’re crowding them out,” said John Ciampaglia, chief executive officer of Sprott Asset Management, which oversees the trust. “You’ve got end users that are trying to buy materials, you’ve got speculators and financial intermediaries in the market as well.”

Investment demand from non-utility buyers such as hedge funds and family offices has been strong this year, even before Sprott Inc.’s asset-management unit launched its trust on July 19, according to Ciampaglia. A few uranium development companies bought the physical commodity after raising equity in the capital markets rather than parking the proceeds into cash, he said.

Still, Sprott’s trust holds about 26 million pounds of uranium, equal to about 14% of the annual consumption from the world’s nuclear reactors. The closed-end fund was formed out of an April takeover of Uranium Participation Corp., which held 18 million pounds of uranium, and its trust units trade on the Toronto Stock Exchange. The fund invests and holds substantially all of its assets in uranium, which is stored in highly secured facilities in Canada, France and the U.S.

Units of Sprott Physical Uranium Trust rose 0.9% at 10:15 a.m. trading in Toronto, lifting September’s gain to 42%.

Historically low prices and pandemic-driven mine disruptions have prompted uranium producers including Cameco Corp. to buy from the spot market to fulfill their long-term contracts with consumers. That means stockpiling by the Sprott fund may have the potential for tightening the market and boosting prices.

The robust investment demand is built on a growing realization that nuclear power is becoming more accepted by policymakers worldwide as a way to limit greenhouse-gas emissions, Ciampaglia said Wednesday in an interview.

“That’s something that’s just recent, and you’re seeing this from the Biden administration acknowledging and providing support for nuclear,” he said. “And the European Union clearly identifies nuclear as part of the taxonomy.”

Uranium is also getting a boost from generalist investors who are seeking investments that meet environmental, social and governance criteria or support the energy shift away from fossil fuels, he said.

Then there’s the recent buzz from retail investors, with uranium becoming a recent target of the meme-stock frenzy that share tips on Reddit message boards. Cameco, the world’s second-largest uranium miner, was the most searched stock symbol on Monday, according to WallStreetBets Ticker Sentiment.

Reddit day-traders “seem to be into it,” Bloomberg Intelligence analyst Eric Balchunas said in an interview. “When you have something that’s starting to surge that’s been beaten for 10 years and there’s some more room to run potentially, I think that’s what they’re trying to do.”

More stories like this are available on bloomberg.com

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In this article, we discuss the 12 best meme stocks to invest in. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Meme Stocks to Invest In.

Retail trading has increased dramatically as a result of zero-commission online trading platforms and fractional share trading. In a Bloomberg TV interview, Citadel Securities Execution Services director Joe Mecane stated that retail investors accounted for 25% of stock market activity in mid-2020. According to Deloitte, retail trading has the same equity trading as mutual funds and hedge funds combined in early 2021.

Internet platform Reddit has a special importance in this rise of retail investing. Reddit's "WallStreetBets" thread is used by millions of young investors who band together to invest in what are often known as "meme stocks."

GameStop is perhaps the biggest embodiment of the meme stock craze that is taking over the US markets over the last few months. Thousands of Redditors joined hands to buy GameStop Corp. (NYSE: GME) to counter institutional investors who shorted the videogame retailer stock, causing hedge funds to incur billions in losses this year. GME stock is up over 1000% year to date.

Luis Louro / shutterstock.com

The rise of retail investors worsened the situation for the hedge fund industry, which was already wavering. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn't keep up with the unhedged returns of the market indices. On the other hand, 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 124 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 SPY. Our stock picks outperformed the market by more than 124 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.

Our Methodology

With this context in mind, here is our list of the 12 best meme stocks to invest in. They were picked keeping in mind the hype around the companies on Reddit forum WallStreetBets.

Labelling the stocks in this list as "meme stocks" does not mean all stocks mentioned here lack any fundamentals or business models. We called them meme stocks because they are extremely popular among Reddit investors.

Some of the meme stocks that are gaining momentum at the time of this writing include AMC Entertainment Holdings, Inc. (NYSE: AMC), Clover Health Investments, Corp. (NASDAQ: CLOV), Palantir Technologies Inc. (NYSE: PLTR), Affirm Holdings, Inc. (NASDAQ: AFRM), and SoFi Technologies, Inc. (NASDAQ: SOFI). These are the stocks that are most frequently discussed on WallStreetBets, a 10-million-strong Reddit forum.

We ranked these stocks based on the number of hedge funds having stakes in them, according to our data of over 873 hedge funds. We also included analyst ratings for each company to help readers make more informed investment decisions.

Best Meme Stocks To Invest In

12. Rocket Lab USA, Inc. (NASDAQ: RKLB)

Number of Hedge Fund Holders: N/A

Percentage gain in the past month: 75.99%

We start our list of the 12 best meme stocks to invest in with California-based aerospace company Rocket Lab USA, Inc. (NASDAQ: RKLB). The company develops and launches satellites and spacecraft for commercial, academic, defense, and civil markets. Rocket Lab USA, Inc. (NASDAQ: RKLB) has completed 21 launch missions, some of which were for NASA, the US Space Force (USSF), and the US Air Force.

On August 25, Rocket Lab USA, Inc. (NASDAQ: RKLB) completed its merger with Vector Acquisition Corporation (Nasdaq: VACQ). On September 8, Rocket Lab USA, Inc. (NASDAQ: RKLB) was secured a multi-launch contract from Kinéis, a French IoT connectivity provider, to deploy 25 satellite constellations across five dedicated Electron flights. The launch is set to begin in the second quarter of 2023.

The company has a market cap of $6.5 billion. In the first half of 2021, Rocket Lab USA, Inc. (NASDAQ: RKLB) recorded a revenue of $29.5 million, up 237% year over year. Shares of Rocket Lab USA, Inc. (NASDAQ: RKLB) skyrocketed 43.44% in the past three months.

11. Hut 8 Mining Corp. (NASDAQ: HUT)

Number of Hedge Fund Holders: 4

Percentage gain in the past month: 49.93%

Hut 8 Mining Corp. (NASDAQ: HUT) is a cryptocurrency mining company based in Toronto that ranks 11th on the list of 12 best meme stocks to invest in. Hut 8 Mining Corp(NASDAQ: HUT) offers blockchain infrastructure and technology solutions for bitcoin mining.

The company has a market cap of $1.91 billion. In the second quarter of 2021, Hut 8 Mining Corp. (NASDAQ: HUT) reported an EPS of -$0.14, missing estimates by -$0.16. The company's second-quarter revenue came in at $26.81 million and beat revenue estimates by $4.54 million.

At the end of the second quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $2.01 million in Hut 8 Mining Corp. (NASDAQ: HUT), up from 0 in the previous quarter.

Just like GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Clover Health Investments, Corp. (NASDAQ: CLOV), Palantir Technologies Inc. (NYSE: PLTR), Affirm Holdings, Inc. (NASDAQ: AFRM), and SoFi Technologies, Inc. (NASDAQ: SOFI), Hut 8 Mining Corp. (NASDAQ: HUT) is a good stock to invest in, according to market analysts.

10. Vinco Ventures, Inc. (NASDAQ: BBIG)

Number of Hedge Fund Holders: 5

Percentage Gain in past five days: 258.13%

Vinco Ventures, Inc. (NASDAQ: BBIG) is an acquisition company based in Pennsylvania that ranks 10th on the list of 12 best meme stocks to invest in. The company is involved in consumer product research and development and offers a web-based platform and operation for connecting product innovators with potential licensees.

Vinco Ventures, Inc. (NASDAQ: BBIG) shares increased 14.8% on September 8 following the release of its 2021 Annual Proxy details and a corporate update.

The company has a market cap of $719 million. The company's second-quarter revenue came in at $2.69 million. Vinco Ventures, Inc.'s (NASDAQ: BBIG) gross margin increased to 36.06%, up from 22.59% in the same quarter in 2020. Shares of Vinco Ventures, Inc. (NASDAQ: BBIG) increased 450% in the past twelve months.

At the end of the second quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $3.26 million in Vinco Ventures, Inc. (NASDAQ: BBIG), up from 1 in the previous quarter worth $59,000.

Just like GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Clover Health Investments, Corp. (NASDAQ: CLOV), Palantir Technologies Inc. (NYSE: PLTR), Affirm Holdings, Inc. (NASDAQ: AFRM), and SoFi Technologies, Inc. (NASDAQ: SOFI), Vinco Ventures, Inc. (NASDAQ: BBIG) is gaining popularity among Reddit investors.

9. Dynavax Technologies Corporation (NASDAQ: DVAX)

Number of Hedge Fund Holders: 15

Percentage gain in the past month: 32.95%

Dynavax Technologies Corporation (NASDAQ: DVAX) is a California-based biopharmaceutical company, and it ranks 9th on the list of 12 best meme stocks to invest in. Dynavax Technologies Corporation (NASDAQ: DVAX) developed the HEPLISAV-B hepatitis B vaccine.

Dynavax Technologies Corporation (NASDAQ: DVAX) saw its stock rise 14.4% after Taiwan-based biotechnology company Medigen Vaccine Biologics Corporation announced the launch of their COVID-19 vaccine MVC-COV1901.

On August 31, H.C. Wainwright analyst Edward White maintained a Buy rating on Dynavax Technologies Corporation (NASDAQ: DVAX) and increased his price target to $23 per share from $20 previously, highlighting the company's ingredient offering for COVID-19 vaccines.

The company has a market cap of $2.03 billion. In the second quarter of 2021, Dynavax Technologies Corporation (NASDAQ: DVAX) reported an EPS of $0.02, beating estimates by $0.06. The company's second-quarter revenue came in at $52.77 million and beat revenue estimates by $4.27 million.

At the end of the second quarter of 2021, 15 hedge funds in the database of Insider Monkey held stakes worth $101 million in Dynavax Technologies Corporation (NASDAQ: DVAX), up from 14 in the previous quarter worth $81.3 million.

Out of the hedge funds being tracked by Insider Monkey, hedge fund firm Partner Fund Management is a leading shareholder in Dynavax Technologies Corporation (NASDAQ: DVAX), with 2,990,770 shares worth more than $29 million.

Just like GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Clover Health Investments, Corp. (NASDAQ: CLOV), Palantir Technologies Inc. (NYSE: PLTR), Affirm Holdings, Inc. (NASDAQ: AFRM), and SoFi Technologies, Inc. (NASDAQ: SOFI), Dynavax Technologies Corporation (NASDAQ: DVAX) is gaining momentum on the back of interest from Reddit investors.

8. AMC Entertainment Holdings, Inc. (NYSE: AMC)

Number of Hedge Fund Holders: 21

Percentage gain in the past month: 49.87%

Theatre giant AMC Entertainment Holdings, Inc. (NYSE: AMC) ranks 8th on the list of 12 best meme stocks to invest in. The Kansas-based movie house has operated 593 domestic theatres and 335 international theatres as of June 30, 2021.

AMC Entertainment Holdings, Inc. (NYSE: AMC) saw its stock rise 13% in the second week of September on the back of solid weekend box office results, with Shang-Chi and the Legend of the Ten Rings smashing holiday box office records with a $90 million four-day debut.

The company has a market cap of $22.60 billion. In the second quarter of 2021, AMC Entertainment Holdings, Inc. (NYSE: AMC) reported an EPS of -$0.71, beating estimates by $0.25. The company's second-quarter revenue came in at $444.70 million and beat revenue estimates by $62.59 million. The stock has gained 58% in the previous months and 744% in the last twelve months.

At the end of the second quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $404 million in AMC Entertainment Holdings, Inc. (NYSE: AMC), up from 19 in the previous quarter worth $34 million.

Out of the hedge funds being tracked by Insider Monkey, Illinois-based hedge fund firm Citadel Investment Group is a leading shareholder in AMC Entertainment Holdings, Inc. (NYSE: AMC) with 8,406,600 shares worth more than $476 million.

Heartland Advisors mentioned AMC Entertainment Holdings, Inc. (NYSE: AMC) in its Q2 2021 investor letter:

7. Clover Health Investments, Corp. (NASDAQ: CLOV)

Number of Hedge Fund Holders: 23

Percentage gain in the past month: 94.89%

Clover Health Investments, Corp. (NASDAQ: CLOV) is a Tennessee-based healthcare company, and it ranks 7th on the list of 12 best meme stocks to invest in. Clover Health Investments, Corp. (NASDAQ: CLOV) provides health plans to Medicare-eligible clients.

On September 2, Clover Health Investments, Corp. (NASDAQ: CLOV) received a Neutral rating and a $10 price target from Citi analyst Ralph, noting the company's Medicare Advantage penetration.

The company has a market cap of $3.63 billion. In the second quarter of 2021, Clover Health Investments, Corp. (NASDAQ: CLOV) reported an EPS of -$0.78, missing estimates by -$0.64. The company's second-quarter revenue came in at $412.47 million, an increase of 140% year over year, and beat revenue estimates by $207.09 million.

At the end of the second quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $1.41 billion in Clover Health Investments, Corp. (NASDAQ: CLOV).

Out of the hedge funds being tracked by Insider Monkey, San Francisco-based hedge fund firm Greenoaks Capital is a leading shareholder in Clover Health Investments, Corp. (NASDAQ: CLOV), with 96,331,338 shares worth more than $1.28 billion.

6. Cameco Corporation (NYSE: CCJ)

Number of Hedge Fund Holders: 25

Percentage gain in the past month: 38.96%

Cameco Corporation (NYSE: CCJ) is a Canadian uranium producer, and it ranks 6th on the list of 12 best meme stocks to invest in. Cameco Corporation (NYSE: CCJ) sells uranium to be used as fuel in nuclear power reactors.

On September 7, Raymond James analyst Brian McArthur maintained an Outperform rating on Cameco Corporation (NYSE: CCJ) and increased his price target to C$29 per share from C$25 previously. Cameco Corporation (NYSE: CCJ) saw its shares rise 6% on September 10 as uranium prices rose and uranium stocks rallied.

The company has a market cap of $9.73 billion. In the second quarter of 2021, Cameco Corporation (NYSE: CCJ) reported an EPS of -$0.08, missing estimates by -0.03. The company's revenue in the second quarter came in at $286.50 million. The stock has gained 82%, year to date, and 123% in the previous year.

At the end of the second quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $587 million in Cameco Corporation (NYSE: CCJ), down from 30 hedge funds in the previous quarter worth $492 million.

Out of the hedge funds being tracked by Insider Monkey, Florida-based investment firm Kopernik Global Investors is a leading shareholder in Cameco Corporation (NYSE: CCJ) with 9.2 million shares worth more than $175 million.

Click to continue reading and see the 5 Best Meme Stocks to Invest In.

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Disclosure: None. 12 Best Meme Stocks to Invest In is originally published on Insider Monkey.

SASKATOON, Saskatchewan, Sept. 16, 2021 (GLOBE NEWSWIRE) — Cameco (TSX: CCO; NYSE: CCJ) and X-energy have entered a non-binding and non-exclusive Memorandum of Understanding to explore possible areas of cooperation to support the potential future deployment, fuelling and servicing of Xe-100 small modular reactors (SMRs) in Canada and the United States.

“We feel very confident about the future of nuclear power and the future of SMRs, here in Canada, in the U.S. and across the globe,” said Cameco president and CEO Tim Gitzel. “We intend to be a fuel supplier of choice for the emerging SMR and advanced reactor market and look forward to working with X-energy to see what opportunities might exist around their innovative reactor technology.”

Cameco is one of the largest global suppliers of uranium and a leader in uranium mining, refining, conversion and fuel manufacturing services. For more than three decades, Cameco has been safely and reliably producing uranium and nuclear fuel products to generate electricity at the world’s nuclear reactors.

“Cameco is a cornerstone of the Canadian nuclear industry and has global reach,” said Pete Pappano, President of TRISO-X, X-energy’s fuel fabrication subsidiary. “As X-energy works to bring the world’s first commercial advanced reactor to market in North America, we look forward to building a fruitful partnership that could provide a steady fuel supply for our technology in North America and support its deployment around the world.”

The U.S. Department of Energy recently awarded X-energy, under a prime contract, approximately US$1.23 billion under the Advanced Reactor Demonstration Program (ARDP) to license, site, build and operate a commercial-scale advanced nuclear power plant based on the Xe-100 design with Energy Northwest by 2027, and to establish the commercial-scale TRISO-X Fuel Fabrication Facility. The Xe-100 four-pack reactor plant is slated for operation in 2027.

In October 2020, Ontario Power Generation Inc. identified the Xe-100 as a potential technology for the Darlington New Nuclear Project (DNNP), which aims to have an SMR in operation as early as 2028. X energy states it is currently advancing the Xe-100 design and engineering work with the utility.

Based on an economic benefits analysis conducted for X-energy by Hatch Ltd., X-energy estimates that the construction of a TRISO-X Fuel Fabrication Facility in Canada would generate more than $310 million (CDN) in economic impact.

“At X-energy Canada, we’re partnering with the Canadian nuclear industry to create an SMR ecosystem that will grow with the developing large-scale deployment of our Xe-100 design – the ideal technology to advance Canada’s net-zero goals,” said Katherine Moshonas Cole, President, X-energy Canada. “We’re thrilled about the potential of this collaboration with Cameco, because it could increase the value of Canadian uranium to our domestic industry and create future export prospects.”

For further information on the Xe-100 reactor technology or its proprietary TRISO-X fuel, please visit the X-energy website at www.x-energy.com.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our intentions to explore possible areas of cooperation for the future deployment, fuelling and servicing of SMRs with X-energy; our views regarding the future of nuclear power and the future of SMRs; Cameco’s intention to be a fuel supplier of choice for the emerging SMR and advanced reactor market; X-energy’s intention to bring the world’s first commercial advanced reactor to market in North America and the potential for Cameco to provide a steady fuel supply for its technology; the expected operational date for the Xe-100 four-pack reactor plant and the target date for DNNP to have an SMR in operation; X-energy’s estimate of the economic impact of the construction of a TRISO-X Fuel Fabrication Facility in Canada; and expectations regarding the creation and growth of an SMR ecosystem developing large-scale deployment of the Xe-100 design, the ability of the technology to advance net-zero goals, and the potential implications for the value of uranium. This forward-looking information is based on a number of assumptions, including assumptions regarding: the ability of Cameco and X-energy to collaborate successfully in the future deployment, fuelling and servicing of Xe-100 SMRs in Canada and the United States; future demand for nuclear power; Cameco’s ability to become a supplier of choice for the SMR and advanced reactor market; X-energy’s ability to bring a commercial advanced reactor to market in North America; the ability to achieve expected operational dates; the success of the technology; and the impact of the technology on the economy and the value of uranium. This information is subject to a number of risks, including: the risk that Cameco and X-energy may not be able to collaborate successfully in the future deployment, fuelling and servicing of SMRs; the risk that the demand for nuclear power and SMRs may be lower than expected; the risk that Cameco may not be successful in becoming a supplier of choice, or provide a steady fuel supply for the new technology; the risk that expected operational dates may be delayed, or not occur at all; and the risk that X-energy’s technology may not be successful in advancing Canada’s net zero goals, may not result in the expected favourable economic impact or may not increase the value of Canadian uranium. The forward-looking information in this news release represents our current views and the current views of X-energy, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com

Figure 1

Ground Magnetics Analytic Signal for Priority Drill Targets

Figure 2

Priority Drill Targets Relative to Oxide-Rich Caps of Amarilla and Verde

TORONTO, Sept. 15, 2021 (GLOBE NEWSWIRE) — (TSXV: TVC) Three Valley Copper Corp. (“Three Valley Copper” or the “Company”) is excited to announce the commencement of its 2021 near mine exploration drilling program on its 91.1% owned Minera Tres Valles (“MTV”) property near Salamanca, Region de Coquimbo, Chile.

“Since Vale first staked the property and found our two deposits named Don Gabriel and Papomono in 2005/2006, little further exploration has been performed on the property,” said Mr. Staresinic, President and CEO of Three Valley Copper. “A majority of Vale’s 170,000 meters of diamond drilling was focused on defining these two deposits. Multiple targets were identified elsewhere on the 46,000-hectare land package although detailed follow up was postponed while delineation of Don Gabriel and Papomono was prioritized. Our drill program will test high-potential copper targets located between Don Gabriel and Papomono, which sit approximately 3 kilometers apart. This initial area of focus represents less than 5 square kilometers or approximately 1% of our land package. We believe this is an excellent opportunity to identify new near-surface copper occurrences close to our existing mines and mineral processing plant.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed4d7f5f-1bb5-452b-8592-e9e518c0da8b

Among the information being used by MTV’s exploration team in planning the drilling program includes ground geophysical (magnetics and IP chargeability) anomalies with similarities to anomalies that are spatially associated with the Papomono and Don Gabriel mines. Geophysical surveying of the area was conducted in 2005 by Zonge Ingenieria y Geofisica (Chile) S.A. during the previous ownership of Compañia Minera Latino Americano Ltda, a subsidiary of Vale.

Mineralization at both Papomono and Don Gabriel mines is associated with distinctive magnetic analytic signal highs and intermediate responses in IP chargeability, likely mapping magnetite in genetically-related intrusives and copper-iron sulphide minerals, respectively. MTV believes that similar geophysical characteristics elsewhere in the district may be mapping similar copper-mineralized rock helping to frame drill targets for the upcoming program.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c3368b5-32e6-4255-9296-0b5d23560b81

Amarilla and Verde are two of the largest and longest running third-party miner locations where oxide-rich caps have been accessed and processed through MTV’s facilities. It is notable that there is a cluster of artisanal mining pits extending beyond Amarilla and Verde. The possibility that these are all part of a larger mineralized system is consistent with the available ground geophysical data. Initial drilling will be conducted in the area of the Verde deposit, which has been mined by third-party miners until recently.

Drilling will be conducted from existing surface infrastructure under current environmental permits. It is expected that this first phase of drilling will include approximately 6,000 to 8,000 meters and $2.5 million has been budgeted for this phase. MTV’s exploration team will assess the results of new drill holes when they are received and incorporate these results into the dynamic design and management of the program.

Qualified Person

Dr. John Mortimer, a consultant to Three Valley Copper, a qualified person under National Instrument 43–101 Standards of Disclosure for Mineral Projects has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About Three Valley Copper

Three Valley Copper, headquartered in Toronto, Ontario, Canada is focused on growing copper production from, and further exploration of, its primary asset, Minera Tres Valles. Located in Salamanca, Chile, MTV is 91.1% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploratory lands. For more information about the Company, please visit www.threevalleycopper.com.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release, contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to: identifying new near-surface copper occurrences, similar magnetic signals to Papomono and Don Gabriel elsewhere on the property may indicate similar copper-mineralized rock, and the possibility of a larger mineralized system.

Although TVC believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: there being no additional significant disruptions affecting the development and operation of MTV; the availability of certain consumables (including water) and services and the prices for power and other key supplies; expected labour and materials costs; expected fixed operating costs; permitting and arrangements with stakeholders; certain tax rates, including the allocation of certain tax attributes, being applicable to MTV; the availability of financing for the Company's and MTV’s planned operations and development activities; assumptions made in mineral resource and mineral reserve estimates and the financial analysis based on these estimates, including (as applicable), but not limited to, geological interpretation, grades, commodity price assumptions, metallurgical performance, extraction and mining recovery rates, hydrological and hydrogeological assumptions, capital and operating cost estimates, and general marketing, political, business and economic conditions, the continued availability of quality management, critical accounting estimates, all terms of the restructuring agreement and facility agreement to which MTV and the Company are parties will be satisfied in the future including no events of default, existing water supply will continue, supplemental water availability will continue, the geopolitical risk of Chile will remain stable, including risks related to labour disputes, the construction and expansion of mining operations including the Papomono Masivo incline block caving underground mining project, as well as the timing thereof and production therefrom; the timing of production and results for the recently restarted Don Gabriel mine; and expected timelines for drawdown and repayment of indebtedness of MTV.

Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) possible variations in grade or recovery rates; (ii) copper price fluctuations and uncertainties; (iii) delays in obtaining governmental approvals or financing; (iv) risks associated with the mining industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to mineral reserves, production, costs and expenses; and labour, health, safety and environmental risks) and risks associated with the other portfolio companies' industries in general; (v) performance of the counterparty to the ENAMI Contract; (vi) risks associated with investments in emerging markets; (vii) general economic, market and business conditions; (viii) market volatility that would affect the ability to enter or exit investments; (ix) failure to secure additional financing in the future on acceptable terms to the Company, if at all; (x) commodity price and foreign exchange fluctuations and uncertainties; (xi) risks associated with catastrophic events, manmade disasters, terrorist attacks, wars and other conflicts, or an outbreak of a public health pandemic or other public health crises, including COVID-19; (xii) those risks disclosed under the heading "Risk Management" in TVC’s Management’s Discussion and Analysis for the period ended December 31, 2020; and (xiii) those risks disclosed under the heading "Risk Factors" or incorporated by reference into TVC’s Annual Information Form dated March 3, 2021. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and SRHI does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.

Cautionary Note to United States Investors Concerning Estimates of measured, indicated and inferred mineral resources

This news release may use the terms "measured", "indicated" and "inferred" mineral resources. Historically, while such terms were recognized and required by Canadian regulations, they were not recognized by the United States Securities and Exchange Commission (the “SEC”). The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). These amendments became effective February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7, which will be rescinded from and after the required compliance date of the SEC Modernization Rules. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “measured”, “indicated” and “inferred” mineral resources. In addition, the SEC has amended its definitions of “proven mineral reserves” and “probable mineral reserves” to be substantially similar to the corresponding Canadian Institute of Mining, Metallurgy and Petroleum definitions, as required by NI 43-101. Investors are cautioned that "Inferred mineral resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.

For further information:

Michael Staresinic
Chief Executive Officer
T: (416) 943-7107
E: mstaresinic@threevalleycopper.com

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: Three Valley Copper.

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

Rio Tinto plc RIO and Caterpillar, Inc. CAT recently joined forces to develop zero-emissions autonomous haul trucks for use at one of Rio Tinto’s Western Australian mining operations. This marks a significant step in Rio Tinto’s mine automation and digitalization program, and the target of attaining net zero emissions by 2050. The move also highlights Caterpillar’s efforts in developing autonomous solutions for customers.

Both of the parties will work together to advance the development of Caterpillar’s future 220-ton 793 zero-emissions autonomous haul truck including the validation of Caterpillar’s emerging zero-emissions technology. Prototypes will be developed, tested, and undergo pre-production trials. It is anticipated that the world’s first operational deployment of approximately 35 new Caterpillar 793 zero-emissions autonomous haul trucks will be at Gudai-Darri, which is Rio Tinto’s most technically advanced iron ore mine in the Pilbara region, Western Australia. Rio Tinto intends to make Gudai-Darri one of the world’s most technologically advanced mines. Construction at Gudai-Darri continues to progress with production ramp-up on track for early 2022. Once completed, the mine will have an annual capacity of 43 million tons.

Earlier in June, Rio Tinto announced that it will deploy the world’s first fully autonomous water truck at its Gudai-Darri mine in partnership with Caterpillar. Water spraying is a vital part of mining operations and this new technology will enhance productivity by enabling digital tracking of water consumption, while cutting down water wastage. Rio Tinto has earmarked approximately $1 billion in investments over the next five years to get its operations down to net zero emissions by 2050.

Rio Tinto’s existing Autonomous Haulage System has improved safety by reducing the risks associated with operators working around heavy machinery. With the help of technology and automation, miners are bringing radical changes to mining operations to increase productivity, reduce cost and improve frontline safety. These efforts will help the industry meet its sustainability target by cutting down on carbon emissions, which is the need of the hour considering the severity of climate change.

Earlier this month, Brazilian miner Vale S.A VALE announced that it has started operating six autonomous haul trucks in Carajás — its largest iron ore complex in Brazil and plans to take it up to 10 vehicles by this year-end. This follows the success of the autonomous operation at Vale’s second largest mine, Brucutu, in Minas Gerais, Brazil, in 2016. Last month, BHP Group BHP announced a partnership with Caterpillar to develop and deploy zero-emissions mining trucks at BHP sites to reduce operational greenhouse gas emissions.

Last year, Newmont Mining Corporation NEM announced investment in implementation of the Autonomous Haulage System at Boddington mine in Australia to enhance safety and productivity, while extending mine life. Once operational, Boddington will be the first open pit gold mine in the world with a fully autonomous haul truck fleet.

Given its benefits to the miners, the driverless fleet is becoming increasingly popular among miners. The number of autonomous trucks is expected to surge over the next few years, thanks to major investments by miners globally. Capitalizing on this demand, Caterpillar is enhancing its autonomous capabilities and bringing innovative products into markets that provide it with a competitive edge in mining. The intensifying global focus on shifting from fossil fuels to zero emissions will require a huge amount of commodities. This is a win-win situation for both miners and mining equipment makers.

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Symbol: AZM.TSX Venture

LONGUEUIL, QC, Sept. 15, 2021 /CNW Telbec/ – Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce that the summer drilling program on the Rex-Duquet ("Rex") and Rex South copper-gold properties has been completed on eight significant targets, including iron oxide copper-gold ("IOCG") mineralization, reduced intrusion-related gold-polymetallic systems and copper-gold mineralization in shear zones.

The projects are part of a major Strategic Alliance ("the Alliance") signed between Azimut and SOQUEM Inc. ("SOQUEM") (see press release of May 15, 2019). In 2021, SOQUEM funded a $4-million exploration program on both properties comprising 48.8 km of ground geophysics (induced polarization; "IP"), 2,890 metres (17 holes) of diamond drilling, and channel sampling. Assay results are pending. Azimut is the operator of the Alliance.

The region offers significant potential for commodities deemed critical or strategic by the Quebec and Canadian governments, specifically copper, tellurium, bismuth, tungsten, tin, molybdenum, rhenium, indium and rare earth elements. The Rex and Rex South properties cover a region considered by the Company's management to be a new mineral province with the potential to host large-scale deposits.

The properties are part of the Rex Trend, a strong 300-kilometre-long copper anomaly in lake-bottom sediments ("LBS") coupled with a strong 100-kilometre-long rare earth anomaly. The Alliance aims to unlock the mineral potential of this largely underexplored region.

2021 Exploration Program (see Figures 1 to 4)

The 2021 summer program comprised:

• Ground geophysics to further define and rank drilling targets (approximately 48.8 line-km of IP and 72.6-line-km of magnetics). This preparatory work started in April and was completed in June.

• Diamond drilling totalling 2,890 metres in 17 holes (2,152 m in 12 holes on Rex and 738 m in 5 holes on Rex South).

The key features of the main target zones that were drill-tested during the 2021 program are summarized below. They correspond to previously reported results. Note that grab samples are selective by nature and unlikely to represent average grades.

RBL Zone (Rex)

The RBL Zone is at least 3 kilometres long by 50 to 200 metres wide, with up to 11.3% Cu in grab samples. Mineralization primarily consists of chalcopyrite (lesser digenite, covellite) and pyrite. Copper mineralization is present as disseminations and in veinlets, stockworks, centimetric to decimetric massive sulphide blebs, semi-massive veins and breccia cement.

The zone is marked by a wide alteration corridor (50 m to 400 m wide), conformable with a NNW-trending brittle fault. Alteration mainly consists of pervasive potassic alteration that obliterates primary gneissic host rocks, accompanied by pervasive silica, quartz veins and veinlets, chlorite and epidote. The corridor displays an extensive stockwork of quartz-magnetite/hematite veins and veinlets and polymictic breccias.

RBL exhibits characteristics of a major IOCG-type hydrothermal-magmatic system with possible significant down-dip extensions. Other comparable zones in the Rex Trend appear to be related to brittle faults (the KAAM, Mousquetaires, CM, Jemima, Impact and Sombrero zones), highlighting the regional-scale potential for this type of deposit, likely related to deep-rooted crustal-scale structures.

Mousquetaires Zone (Rex)

Mousquetaires is a target zone at least 1.5 kilometres long by 200 metres wide related to a copper-bearing brittle fault cutting a foliated iron formation. The zone returned grades up to 13.65% Cu, 0.12% Mo, 25.9 g/t Te and 14.25 g/t Re from different grab samples. This zone, which shows alteration and vein types comparable to the RBL Zone, may represent the strike extension of the RBL Zone located 10 kilometres to the NNW.

Subtle Zone (Rex)

The Subtle target zone is recognized over an area 500 metres long by 150 metres wide, striking NNW with a subvertical dip and largely open along strike. It is interpreted as a shear-hosted mineralized system, returning high grades of 580 g/t Au, 915 g/t Ag and 7.87% Zn from grab samples, including up to 11.7 g/t Te, 0.5% W and 0.25% Mo.

PAK Zone and PAK North Zone (Rex)

The PAK and PAK North zones lie on strike with the Subtle Zone. They form a group of 10 prospects distributed over a distance of 7 kilometres that yielded up to 133.5 g/t Au, 851 g/t Ag, 9.09% Zn, >500 g/t Te, 1.6% Cu and 0.87% W in grab samples and proximal boulders.

Augossan Zone (Rex South)

The Augossan Zone represents a large polymetallic envelope (Au, Ag, Cu, W, Sn, Te, Bi, Rb, Mo) at the contact between an oval-shaped (5 km by 15 km) fluorite-topaz-bearing A-type intrusive complex (the Qalluviartuuq Intrusive Complex) and volcano-sedimentary rocks. Augossan measures about 8,000 metres long by 100 to 350 metres wide, as defined by extensive prospecting results and data from previous reverse circulation ("RC") reconnaissance drill holes. The zone remains open in all directions, notably toward the intrusion.

Delineation work returned grades of up to 47.2 g/t Au, 90.0 g/t Ag, 2.56% Cu, 60.8 g/t Te, 4.62% W, 7.53% Sn, 0.36% Mo, 0.77% Bi, and 0.25% Rb in grab samples.

Channel sampling notably yielded 7.53% Sn, 0.72% W and 0.14% Cu over 2.7 m. Highlights from a previous RC drilling program include 0.14% W over 15.24 m, 0.12% W and 0.35% Cu over 7.62 m; 1.28 g/t Au, 8.41 g/t Ag and 0.12% Cu over 6.1 m; 1.10 g/t Au and 2.60 g/t Ag over 9.14 m.

Copperton Zone (Rex South)

The Copperton Zone is hosted in a variably sheared, steeply dipping feldspathic intrusion, and in amphibolites and gneissic metasediments. The mineralized corridor is recognized over a strike length of 3.5 kilometres and a width of 20 to 100 metres. Mineralization is mainly disseminated to semi-massive chalcopyrite, pyrite and pyrrhotite. The best grades were 9.56 g/t Au, 82.7 g/t Ag, 9.56% Cu, 38.4 g/t Te and 0.23% W in various grab samples.

Dragon North Zone (Rex South)

The Dragon North target zone is hosted in foliated mafic and felsic volcanics striking NW and dipping to the NE. It is approximately 450 metres long by 90 metres wide and appears spatially correlated with a magnetic high. Mineralization is mainly chalcopyrite accompanied by lesser pyrite and magnetite, with the best grab samples grading 4.05% Cu, 0.6% Mo and 2.78% Cu, 0.13% Mo. Alteration is mainly silicification.

Dragon Zone (Rex South)

Dragon is hosted in felsic orthogneiss. Mineralization occurs as chalcopyrite in quartz veins and veinlets associated with tourmaline. Alteration is marked by epidote and hematite. The best grades from grab samples are 3.67% Cu, 11.2 g/t Au and 48.5 g/t Te. The preliminary strike extent of this zone is about 2 kilometres. Widths are still undefined.

About the Rex Trend

The district-scale Rex and Rex South properties have provided a controlling land position over the giant LBS copper anomaly of the Rex Trend since 2009. The anomaly correlates well with more than 150 polymetallic prospects and mineralized zones (see press releases of November 6 and November 25, 2019).

The Rex Trend is a vast underexplored region of Northern Quebec. The Rex and Rex South properties were staked after the Company applied its proprietary AZtechMine^TM expert system to copper-gold predictive modelling over 1,247,900-km².

The Rex-Duquet Property (2,040 claims) comprises three (3) main claim blocks totalling 871.5 km² with a cumulative length of 74 kilometres. The Rex South Property (2,343 claims) consists of two (2) claim blocks totalling 1,020.6 km² with a cumulative length of 68 kilometres.

About the Azimut-SOQUEM Nunavik Alliance and 2021 program

The Alliance, announced on May 15, 2019, comprises two (2) option phases representing a total investment of up to $40 million:

• First Option ($16 million for 50%): SOQUEM has the option to earn an initial 50% interest in the Rex-Duquet, Rex South and Nantais properties by investing $16 million in exploration work over a period of four (4) years, the first two (2) years being a firm commitment of $4 million each year.

• Second Option ($8 million, plus a PEA per designated property for an additional 10%): SOQUEM will have the option to earn an additional 10% interest in each designated property (for a total 60% interest in each property) by investing $8 million per designated property over a period of two (2) years and delivering a preliminary economic assessment ("PEA").

Geosig Inc. of Quebec City (Quebec) conducted the geophysical surveys over the Rex and Rex South properties. The IP survey used a pole-dipole array with readings every 25 metres (n=1 to 8). Drilling was completed by Chibougamau Drilling Ltd of Chibougamau, Quebec. The hole diameter is BTW.

Drill core samples are sent to AGAT Laboratories from Mississauga, Ontario, and ALS Minerals in Val-d'Or, Quebec. Azimut applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are included in all batches of drill core sent to the laboratories.

This press release was prepared by Dr. Jean-Marc Lulin, P.Geo., acting as Azimut's qualified person under National Instrument 43-101. The field program is under the direction of François Bissonnette, P.Geo., Azimut's Operations Manager. SOQUEM's professionals were also part of the exploration team.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.

About Azimut

Azimut is a mineral exploration company whose core business centres on target generation and partnership development. The Company is actively advancing the Patwon gold discovery on its 100%-owned flagship Elmer Property in the James Bay region.

The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine^TM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline, a strong balance sheet and has 81.7 million shares issued and outstanding. Azimut's competitive edge against exploration risk is based on systematic regional-scale data analysis and multiple concurrently active projects.

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

SOURCE Azimut Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/September2021/15/c3216.html

(Bloomberg) — The Canadian firm behind the world’s only physical uranium fund said hedge funds and family offices are driving up demand for the radioactive metal used to fuel nuclear reactors.

The Sprott Physical Uranium Trust has itself been on a buying spree, bolstering its stockpile by 45% in four weeks after snapping up 8.1 million pounds of the commodity as prices surged. Uranium has soared 40% this month, putting pressure on utility owners and other users when supplies are dwindling and demand is poised to take off with more reactors being built around the world.

“I don’t think we’re crowding them out,” said John Ciampaglia, chief executive officer of Sprott Asset Management, which oversees the trust. “You’ve got end users that are trying to buy materials, you’ve got speculators and financial intermediaries in the market as well.”

Investment demand from non-utility buyers such as hedge funds and family offices has been strong this year, even before Sprott Inc.’s asset-management unit launched the trust on July 19, according to Ciampaglia. A few uranium development companies bought the physical commodity after raising equity in the capital markets rather than parking the proceeds into cash, he said.

Still, Sprott’s trust holds about 26 million pounds of uranium, equal to about 14% of the annual consumption from the world’s nuclear reactors. The closed-end fund was formed out of an April takeover of Uranium Participation Corp., which held 18 million pounds of uranium, and its trust units trade on the Toronto Stock Exchange. The units have jumped 41% this month, tracking uranium’s surge. The fund invests and holds substantially all of its assets in uranium, which is stored in highly secured facilities in Canada, France and the U.S.

Historically low prices and pandemic-driven mine disruptions have prompted uranium producers including Cameco Corp. to buy from the spot market to fulfill their long-term contracts with consumers. That means stockpiling by the Sprott fund may have the potential for tightening the market and boosting prices.

The robust investment demand is built on a growing realization that nuclear power is becoming more accepted by policymakers worldwide as a way to limit greenhouse-gas emissions, Ciampaglia said.

“That’s something that’s just recent, and you’re seeing this from the Biden administration acknowledging and providing support for nuclear,” he said. “And the European Union clearly identifies nuclear as part of the taxonomy.”

Uranium is also getting a boost from generalist investors who are seeking investments that meet environmental, social and governance criteria or support the energy shift away from fossil fuels, he said.

Then there’s the recent buzz from retail investors, with uranium becoming a recent target of the meme-stock frenzy that share tips on Reddit message boards. Cameco, the world’s second-largest uranium miner, was the most searched stock symbol on Monday, according to WallStreetBets Ticker Sentiment.

Reddit day-traders “seem to be into it,” Bloomberg Intelligence analyst Eric Balchunas said. “When you have something that’s starting to surge that’s been beaten for 10 years and there’s some more room to run potentially, I think that’s what they’re trying to do.”

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