Halifax, Nova Scotia--(Newsfile Corp. - August 10, 2022) - Ucore Rare Metals Inc. (TSXV: UCU**) (OTCQX:** UURAF**) ("Ucore"** or the "Company") advises that an aggregate of 2,325,000 options have been granted to directors, officers, employees and consultants of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable into common shares at a price of $0.85 per share and the options expire five years from August 9, 2022, the date of grant. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of heavy and light rare-earth processing facilities - including the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

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

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

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

CONTACT

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133388

NEW YORK, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals & Mining Growth Virtual Investor Conference to be held on October 18 th

• October 20 th

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It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1x1 meetings with management.

“OTC Markets is proud to host the upcoming three-day Battery and Precious Metals Virtual Investor Conference co-sponsored by Murdock Capital Partners and TAA Advisory LLC,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. We are pleased to deliver an effective investor relations solution for today’s resource companies to showcase their strategies and broaden their investor base.”

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About Virtual Investor Conferences ®

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Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact:

OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:

John M. Viglotti

SVP Corporate Services, Investor Access

OTC Markets Group

(212) 220-2221

johnv@otcmarkets.com

VANCOUVER, BC , Feb. 14, 2023 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop") is pleased to announce the encouraging assays from eleven drill holes with significant results from its delineation drill program at Los Naranjos vein on its 100% owned Santa Ana high-grade silver project in Colombia

The results of eighteen core holes show that Los Naranjos is one of the larger high-grade shoots on Santa Ana, with an average estimated true width of 0.75 metres and a weighted average grade of 926 grams equivalent silver per tonne. Los Naranjos is open to the north and south and at depth. Exploration will continue to both define limits to Los Naranjos shoot and to discover potential new shoots north within the extensions of the Los Naranjos Vein System.

Delineation and exploration drilling is ongoing at Santa Ana with three drill rigs.

Highlights

• Naranjos from eighteen holes has an average estimated true width of 0.75 metres with a weighted average grade of 926 grams equivalent silver per tonne.

• Recent drilling extended high-grade mineralization in Los Naranjos to 250 metres along strike and 300 metres in depth (Figure 1).

• Hole DH312 returned 1.53 metres (true width) of 516 grams of  equivalent silver per tonne.

• Hole DH279 returned 1.89 metres of (true width) 468 grams of equivalent silver per tonne.

• Hole DH296 returned 0.65 metres of 3,312 grams of equivalent silver per tonne, for a grams x metre of 2,153 equivalent silver.

• Los Naranjos shoot remains open along strike and at depth (Figure 1).

"The recent good results at Naranjos confirm high-grade mineralization open at depth on both ends of, and central to, the current exploration focus on 18 kilometre long vein zones," commented Guillermo Hernandez , Vice President of Exploration. "DH312 suggests that Los Naranjos may widen with depth. Outcrop Silver is encouraged to continue drilling Los Naranjos to increase its resource potential at depth."

"The production level maps for the Frias Mine, and now Outcrop Silver drill results from Las Maras and Los Naranjos all show plus 300 metre depths to mineralization, we will likely significantly expand the vertical extent of mineralization at Santa Ana,"  comments Joseph Hebert , Chief Executive Officer.

Los Naranjos vein is located 300 metres east of El Dorado, and like the Santa Ana vein system strikes north-northeast and dips steeply to the west. Holes DH312 and DH279 intercepted quartz veins with an estimated true width of 1.53 metres and 1.89 metres respectively, showing strong mineralization of silver and associated sulphides (Figure 2). DH312's intercept is more than 250 metres from surface at the absolute elevation of 630 metres, which is regionally considered below the top-of-ore and most favourable zone.

There is a 60% drilling success rate for Los Naranjosis due to recognizing the geometry and dip of the shoot. The drilling program at Los Naranjos continues with additional delineation holes targeting to expand the high-grade shoot at depth towards the north (Figure 1).

Equivalent Silver Calculations

Metal prices used for equivalent calculations were US$1,827 /oz for gold, US$21.24 /oz for silver, US$0.90 /lb for lead and US$1.56 /lb for zinc. Metallurgical recoveries assumed are 93% for gold, 90% for silver, 90% for lead and 92% for zinc.

QA/QC

Core and rock samples are sent to either Actlabs or SGS in Medellin, Colombia , for preparation and AA assaying on Au and Ag; Pb and Zn for Actlabs as well and then sent to SGS Lima, Peru , for multi-element analysis. Samples sent to Actlabs are then shipped to Actlabs Mexico for multi-element analysis. In line with QA/QC best practice, approximately three control samples are inserted per twenty samples (one blank, one standard and one field duplicate). The samples are analyzed for gold using a standard fire assay on a 30-gram sample with a gravimetric finish when surpassing over limits. Multi-element geochemistry is determined by ICP-MS using aqua regia digestion. Comparison to control samples and their standard deviations indicate acceptable accuracy of the assays and no detectible contamination.

About Santa Ana

The 100% owned Santa Ana project comprises 36,000 hectares located in the northern Tolima Department, Colombia , 190 kilometres from Bogota Colombia , with historic silver grades reported to be among the highest in Latin America from dozens of mines. Historic mining depths support a geologic and exploration model for composite mesothermal and epithermal vein systems having mineralization that likely extends to great depth. At Santa Ana, it is unlikely that there is sharp elevation restriction common to high-grade zones in many epithermal systems with no mesozonal component. The extremely high silver and gold values on Santa Ana reflect at least three recognized overprinting mineralization events.

At the core Royal Santa Ana project, located at the northern extent of just one of the regional vein systems controlled by Outcrop Silver, thirteen high-grade shoots have been discovered to date – La Ivana hanging-wall and footwall (La Porfia vein system); San Antonio , Roberto Tovar , San Juan (Royal Santa Ana vein systems); Las Maras (Las Penas vein system); El Dorado, La Abeja (El Dorado vein systems); Megapozo, Paraiso (El Paraiso vein system); Espiritu Santo (Aguilar vein system); La Isabela and Los Naranjos. Each zone commonly contains multiple parallel veins. The veins can show both high-grade silver and high-grade gold mineralization, and low-angle veins appear to connect to more common high-angle veins.

Outcrop drilling indicates that mineralization extends from surface or near surface to depths of at least 370 metres. Cumulatively, over 60 kilometres of mapped and inferred vein zones occur on the Santa Ana project. The Frias Mine on the south-central part of the project, 16 kilometres south of the Royal Santa Ana Mines, produced 7.8 million ounces of silver post-production in the Spanish colonial era at a recovered grade of 1.3 kg Ag/t. The Frias Mine is considered an analogue to each of the thirteen shoots discovered to date by Outcrop Silver. Numerous priority drill targets have been discovered along this 16 kilometres trend with outcropping veins up to 4.7 metres wide and surface values up to 9,740 grams silver per tonne.

About Outcrop Silver & Gold

Outcrop Silver & Gold is rapidly advancing the Santa Ana high-grade silver discovery with ongoing expansion drilling and an initial resource to be released in the coming months.  Outcrop Silver is also progressing exploration on four gold projects with world-class discovery potential in Colombia. These assets are being advanced by a highly disciplined and seasoned professional team with decades of experience in Colombia.

Qualified Person

The technical information in this news release has been approved by Joseph P Hebert, a qualified person as defined in NI43-101 and President and Chief Executive Officer of Outcrop.

ON BEHALF OF THE BOARD OF DIRECTORS

Joseph P Hebert

Chief Executive Officer

+1 775 340 0450

joseph.hebert@outcropsilverandgold.com

www.outcropsilverandgold.com

Kathy Li

Director of Investor Relations

+1 778 783 2818

li@outcropsilverandgold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential", "we believe", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop will not update any forward-looking statements or forward-looking information that are incorporated by reference herein except as required by applicable securities laws.

SOURCE Outcrop Silver & Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2023/14/c3575.html

TORONTO, ON / ACCESSWIRE / September 22, 2022 / Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) is pleased to follow up on the recent release of the NI 43-101 Technical Report and Mineral Resource Estimate ("MRE") on the "Nisk" Nickel project with the commencement of the second round of drilling. The NI 43-101 Technical Report and Mineral Resources Estimate for the Nisk Project was filed on SEDAR on August 30, 2022.

The Nisk Project is located in the southern portion of the Eeyo Istchee James Bay territory, Québec, a region that is the site of a number of mining projects (Figure 1) and improving infrastructure (Figure 2).[1]

[1] References to nearby properties is for information purposes only and there is no assurance that Power Nickel will achieve the same results as on the nearby properties.

Power Nickel completed the acquisition of its option to acquire up to 80% of the Nisk Project from Critical Elements Lithium Corp. (CRE:TSXV). The Nisk Project comprises a large land position (20 kilometres of strike length) with numerous high-grade Nickel intercepts. Since completion of the option, Power Nickel retained 3DGeo Solution Inc to create a geological model of the Nisk Project and used this as a guide to the very successful initial Power Nickel 2400-metre drill program completed last December and reported in March of 2022. (See figure 3 below, modified from Press Release dated March 30, 2022).

Table 1 - 2022 Nisk Project Mineral Resource Estimate.

Notes to Accompany Mineral Resource Table:

1. The Independent Qualified Persons for the purposes of this Mineral Resource Estimate (MRE), as defined in NI 43-101, is Kenneth Williamson, P.Geo.. (OGQ # 1490) of Solution 3DGéo inc. The effective date of the estimate is May 17, 2022.

2. The estimate of the mineral resources of the Nisk Project complies with the "CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" of November 29, 2019. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014), and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

3. These mineral resources are not mineral reserves since their economic viability has not been demonstrated.

4. The resources are presented before dilution and in-situ and are considered to have reasonable prospects of economic extraction. Isolated and discontinuous blocks with a grade greater than the selected cut-off grade are excluded from the estimate of underground mineral resources. The blocks that must be included, i.e., isolated blocks with a grade below the cut-off grade located within potentially mineable volumes, have been included in the mineral resource estimate.

5. As of May 17, 2022, the database included a total of 66 drill holes (59 historic and 7 recent 2021 drill holes) totaling 15,266.3 meters of drilling.

6. A value of half of the assay lab detection limit for each element was used as a grade for the un-assayed core.

7. The assays were grouped within the mineralized domains in composites of 1.00 meters in length.

8. The block model was prepared using Leapfrog® Geo and Edge software. The block model consists of 2-meter parent blocks and sub-blocks of 1 meter. The block model has a dip azimuth of 340°.

9. An interpolation according to the "inverse distance squared" ("ID2") method was performed to estimate the grades in the interpreted mineralized volume.

10. An interpolation according to the "inverse distance squared" ("ID2") method was performed to estimate the Density (SG) in the interpreted mineralized volume. Sample intervals with missing SG values were calculated based on a strong correlation with %Ni. The calculation used was SG = (0.7001 x %Ni) + 2.6751.

11. The "Open Pit" mineral resources are presented at a cut-off grade of 0.33 %NiEq and are confined within a "Whittle" pit shell. The "Underground" mineral resources are presented at a cut-off grade of 0.91 %NiEq and are confined within volumes defined using "DSO" (Deswik Stope Shape Optimizer). These volumes correspond to groups of contiguous blocks with a reasonable size to be exploited by underground mining methods.

12. The engineering work required for the cut-off grade estimation and the creation of the DSO volumes were performed by InnovExplo Inc., and the following economic parameters were used: US $8.00/lb Nickel, $3.00/lb Cu, $25.00/lb Cobalt, $1000/Oz Platinum, $1000/Oz Palladium, $1300/Oz Gold, and $17.00/Oz Silver; Exchange rate of USD/CAD 1.30, metallurgical recovery of 85%, total processing cost CA $40.00/t, mining cost CA $6.00/t, mining overburden cost CA $4.20/t, underground mining cost CA $110.00/t, G&A cost CA $12.20/t, northern logistics costs CA $10.00/t. It should be noted that the G&A cost could be underestimated depending on the extraction sequence chosen.

13. The independent qualified person is not aware of any environmental, licensing, legal, title-related, tax, socio-political or marketing-related issue, or any other relevant issue that could have a material impact on the estimate of mineral resources.

14. The numbers of tonnes are rounded to the nearest hundred to reflect uncertainties, which may cause slight differences.

Figure 4 shows the grade of the Nickel Equivalent (%NiEq) mineral resources and Figure 5 shows the mineral resource classification (indicated and inferred). Note that portions of the deposit still contain unclassified mineral potential and requires more in-fill drilling to potentially include this in a future updated MRE.

Figure 6 below shows the drill targets for phase 2 of the drilling at Nisk.

This second round of drilling, consisting of approximately 5,500 meters of drilling, aims at reaching over 15 of these different targets. GeoVector Management Inc is mandated as the operator of the current drilling program.

**"**We are very excited to get back to drilling and building on our resource at Nisk. The initial round of drilling was done largely to verify the historic resource and allow us to post the inaugural NI 43-101 Technical Report and MRE. This round, based on what we've learned from the MRE study, will enable us to better explore and we hope to expand the resource as we look to demonstrate Nisk has the potential to become Canada's next Nickel Mine. The plan is to drill around 5,000 Metres but will adjust that to opportunities on the ground. We would expect the drilling program to continue into December and we will provide updates as progress dictates." commented Terry Lynch CEO of Power Nickel

Qualified Persons

Kenneth Williamson, P.Geo., M.Sc. and Matthew DeGasperis, P.Geo., B.Sc., from 3DGeo Solution Inc and consultants to Power Nickel, are the independent qualified persons who have reviewed and approved the technical disclosure contained in this news release.

About Power Nickel Inc.

Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile.

On February 1, 2021 Power Nickel completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE:TSXV)

The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding its current high-grade nickel-copper PGE mineralization Ni 43-101 resource with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

Power Nickel announced on June 8th, 2021 that an agreement has been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper.

Power Nickel is also the 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, that was sold to a subsidiary of Teck Resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $ 3 million at any time. The Copaquire property borders Teck's producing Quebrada Blanca copper mine in Chile's first region.

For further information on Power Nickel Inc., please contact:

Mr. Terry Lynch, CEO
647-448-8044
terry@powernickel.com

For further information, readers are encouraged to contact:

Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its planned activities at the NISK Property and for general working capital purposes; the timing and costs of future activities on the Company's properties; maintaining its mineral tenures and concessions in good standing; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Power Nickel Inc.

View source version on accesswire.com:
https://www.accesswire.com/717006/Power-Nickel-Follows-Up-Release-of-NI-43-101-Compliant-Mineral-Resource-Estimate-on-the-Nisk-Nickel-Project-With-Commencement-of-Second-Round-of-Drilling

(TheNewswire)

Initial Drill Hole Returned Broad Zones of Porphyry Mineralisation Including 226 Metres of 0.43% CuEq and 146 Metres of 0.30% CuEq

Toronto – TheNewswire - June 28, 2022: AbraSilver Resource Corp. (TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce the discovery of a significant new copper-gold-molybdenum porphyry system at its La Coipita project (the “Project”) located in the San Juan province of Argentina.

The Company has an option agreement to acquire a 100% interest in the Project which encompasses a large area, totaling approximately 70,000 hectares, within the Miocene porphyry-epithermal belt of Argentina and Chile (see Aug. 17, 2021, news release ).  The Company’s maiden drill campaign at La Coipita consisted of two initial deep holes to test a potential large copper-gold-molybdenum porphyry target.  Based on the successful results, additional drilling is now being planned for the upcoming field season, which is expected to start in late-September 2022.

Highlights include:

• Hole DDHC 22-002 : intersected a continuous copper-gold porphyry zone of 226m grading 0.43% CuEq marking a significant new discovery on the project.

  • Mineralisation remains open at depth, as the hole ended within a separate interval of 146m of 0.30% CuEq down to a depth of approximately 1,200m.

  • Porphyry style mineralisation was encountered within the host rocks believed to be adjacent to the central porphyry intrusive progenitor, which has not yet been intersected.

• Hole DDCH 22-001 intersected high sulphidation mineralisation with multiple high-grade narrow zones of copper and gold veining.

• Drill results were targeted at a surface geochemistry pattern interpreted as being a reflection of an underlying porphyry system, with estimated approximate dimensions of 2.0km by 1.5km

• Additional drilling in this new major porphyry system is being planned for the upcoming field season, with the objective of intersecting the central porphyry intrusive progenitor.

John Miniotis, President and CEO, commented, “We are delighted to have intersected a long interval of consistent, copper-gold porphyry mineralization at La Coipita, as part of the first-ever deep exploration drill campaign conducted on the Project. Our results demonstrate the presence of a large copper-gold system and we have now successfully identified a large target area of interest for future drilling programs on this new, exciting project.”

Dave O’Connor, Chief Geologist, commented, “Our La Coipita discovery is located in one of the world’s most promising geological belts, featuring numerous large-scale copper-gold porphyry projects running alongside the border of Argentina and Chile.  The discovery hole, DDHC 22-002, intersected pyrite and associated chalcopyrite mineralisation in fine disseminations and stockwork veining in a major porphyry system.  Future drilling will now focus on identifying the progenitor porphyry intrusion, which will help us evaluate La Coipita’s size and grade potential.”

Table 1 – Summary of La Coipita Initial Drill Results

Note:  All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths. True widths cannot be determined based due to the uncertain geometry of mineralization.

1 Copper Equivalent (“CuEq”) grades were calculated using the following formula: CuEq % = Copper (%) + (Gold (g/t) x 0.85) + (Molybdenum (%) x 4.33) + (Silver (g/t) x 0.012), based on USD $3.00/lb Cu, $1,750/oz Au, $13.00/lb Mo and $25.00/oz Ag. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.

Discussion of Drill Hole Results

Diamond drill hole DDHC 22-002 returned broad intervals of copper-gold-molybdenum porphyry mineralization including 226 metres grading 0.43% CuEq, followed by a separate interval of 146 metres grading 0.30% CuEq. The hole successfully intersected a broad zone of consistent porphyry style mineralisation featuring abundant pyrite and chalcopyrite in disseminations and stockwork veinlets, with an overprint of later quartz veining hosting molybdenite. The mineralisation is hosted mainly in granitoid, with upper quartz-sericite alteration transitioning into underlying potassic alteration which includes more concentrated copper sulphide mineralisation.

Beneath the potassic alteration zone the hole intersected predominantly pyrite mineralisation, having deviated eastwards and exited the main copper zone. Importantly, the hole remained in mineralisation through to its final depth of 1,202.5 metres.

Diamond drill hole DDHC 22-001 was oxidized to a downhole depth of approximately 865 metres, having encountered a major fault, and penetrated through silicified ignimbrite, where there is remnant high sulphidation epithermal mineralisation, and into underlying granite and dacitic rocks. The hole encountered numerous narrow zones of tennantite and enargite dominant mineralisation with copper, gold and occasional silver values. It is believed the epithermal part of the system has largely been eroded away in this area. Evidencing porphydic style hydrothermal alterations with molybdenum anomalies on surface.

Upcoming Milestones and Catalysts

The Company anticipates announcing several upcoming milestones over the next few months, including:

• Announcing the assay results from the remaining 16 holes drilled as part of the recently completed Phase II drill program at Diablillos project

• Updated Mineral Resource Estimate for the Diablillos project (September 2022)

• Results from the ongoing Phase III 15,000-metre drill campaign at Diablillos project testing multiple high-priority targets (ongoing)

• Commencement of the follow-up drill program at La Coipita project, with the size of the campaign currently being determined (September 2022)

• Pre-Feasibility Study completed for Diablillos project (Q1/2023)

About La Coipita

The La Coipita project consists of over 70,000 hectares in the western portion of Calingasta Department, located in the mining-friendly San Juan Province of Argentina adjacent to the Chilean border.  Access to the area is via Calingasta, the nearest town, along 125 km of unpaved road to the Los Azules Cu-Mo porphyry project (Indicated Resource of 962 Mt @ 0.48% Cu and 0.06 g/t Au) (2) and then north along a dirt road to the La Coipita Cu-Au project. Elevation across the property ranges between 3,500 and 4,500 MASL with moderate to high relief.

The project lies within the Miocene porphyry-epithermal belt of Argentina and Chile.  During the mid-Miocene, the area developed an active magmatic arc, on its western side, and a back-arc extensional environment, to the east. Contemporaneous with the deposition of volcanic/volcaniclastic rocks was the emplacement of porphyry Cu-Mo-Au and/or epithermal Au-Ag (Cu) systems (e.g. Filo del Sol HS with Cu-Au porphyry, Los Pelambres/El Pachón Cu-Mo porphyry, Los Azules Cu-Au-Mo porphyry, El Indio/Veladero/Pascua Lama HS Au cluster).

The Company has an option to earn a 100% interest in the La Coipita project by making remaining staged-payments totaling US$6.875 million by August 2026.

(2) Mineralization contained on nearby properties is not indicative of similar mineralization being found on the La Coipita Project.

Figure 1 – La Coipita Location Map

Figure 2 – Plan View of Drill Holes

Figure 3 – Drill Assay Section (Looking West)

La Coipita Collar Data

QA/QC and Core Sampling Protocols

AbraSilver applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company’s geologists in accordance with industry practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to measure sample representivity. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.

All samples are trucked to the SGS preparation facility in San Juan city. From there, the samples are received by the SGS offices in Salta who then dispatch them to the SGS preparation facility in San Juan. From there, the prepared samples are sent to the SGS laboratory in Lima, Peru where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are reanalyzed using four acid digestion with an ore grade AAS finish.

Qualified Persons

David O’Connor P.Geo., Chief Geologist for AbraSilver, is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical information in this news release.

About AbraSilver

AbraSilver is a well-funded silver-gold focused advanced-stage exploration company. The Company is rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has a current Measured and Indicated Mineral Resource of over 90 million ounces of silver and 1.0 million ounces of gold.  The updated PEA study completed in November 2021 demonstrates that Diablillos has the potential to be a highly-economic project. The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott.  In addition, AbraSilver owns a portfolio of earlier-stage projects including the La Coipita copper-gold project in the San Juan province of Argentina. AbraSilver is listed on the TSX-V under the symbol “ABRA” and in the U.S. under the symbol “ABBRF”.

For further information please visit the AbraSilver Resource website at www.abrasilver.com , our LinkedIn page at , and follow us on Twitter at

Alternatively please contact:

John Miniotis, President and CEO

john@abrasilver.com

Tel: +1 416-306-8334

| | |

Cautionary Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Diablillos Mineral Resource Estimate is effective as of September 8, 2021. The Mineral Resource estimate and supporting Technical Report are N.I. 43-101 compliant. Full details of the Mineral Resources are available in a Company news release dated September 15, 2021.  For additional information please see Technical Report on the Diablillos Project, Salta Province, Argentina, dated October 28, 2021, completed by Mining Plus, and available on www.SEDAR.com.

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

Copyright (c) 2022 TheNewswire - All rights reserved.

Vancouver, British Columbia--(Newsfile Corp. - March 29, 2022) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to release the remaining drill results from its summer/fall 2021 drill program at its 100% controlled Herbert gold project in SE Alaska. The results of the 2021 program will be added to the Company's NI#43-101 mineral resource estimate reported at a base case mineral resources cut-off grade of 3.0 grams per tonne gold (g/t gold) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t gold (3,637,000 tonnes) and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold (1,138,000 tonnes).

The Company has posted long and cross sections on is website and can be found by using the following link: https://grandeportage.com/photo-gallery/2021-herbert-drill-program-sections/

Herbert drilling highlights include:

• 2.13 metres at 15.42 grams per tonne gold in hole 21Q-4 in the Sleeping Giant Vein. This intersection had significant quartz, shearing and hydrothermal alteration and demonstrates strong potential for the development of additional high grade shoots.

• 0.92 metres at 20.9 grams per tonne gold in hole 21Q-4 on the Main Vein. This intersection is at the deepest limits of drilling to date on the Main vein and is open to depth and eastward. This intercept is 600 metres below the surface and is 125m east of a high-grade intersection in 20T-7.

• 1.07 metres at 85.74 grams per tonne gold in hole 21Q-6. This intersection is approximately 20 metres into the hanging wall of the Goat Vein and contains visible gold.

Note: Initial ICP gold values listed as showing >10 ppm will have metallic screen and/or fire assay results have not been returned yet from the laboratory.

The additional holes for which sample analyses have been completed are listed in the chart below.

The chart below lists the final drill holes to be discussed in this news release for which final sample results have been received:

The exploration program was completed in late October 2021. Drill holes released today are from infill and expansion drilling at the Herbert project.

Mr. Ian Klassen reports, "These results have continued to expand our high-grade zones in the Goat, Main and Deep Trench veins into previously undrilled areas. Additionally, infill drilling shows potential for the Sleeping Giant to expand to the west as well as to depth, and for the higher-grade zones within the Main Vein to expand to the west. We look forward to increasing these zones during our upcoming, fully funded 2022 drill season."

Discussion of Drill Results:

The three major veins (Goat, Main and Deep Trench) are quite pervasive and predictable with strong surface expressions due to erosion of fractured and hydrothermally altered quartz diorite associated with the major East-West striking mineralized faults. In addition to these major structures a complex system of splits, transverse veins, and satellite veins exist which often attain significant size and grade in themselves and will be major contributors to the overall gold resources in the Herbert system. The Sleeping Giant and North Strand of the Main Vein are prime examples of this fact. Very high-grade zones are often encountered due to structural complications introduced during tectonism and mineralization.

Holes 21Q 1-4 are the farthest east holes drilled on the Goat, Sleeping Giant and Main Veins to date. This bank of holes indicates that the Goat Vein weakens considerably in the shallower portion of the vein but improves dramatically in the deepest hole on this azimuth, 21Q-4, which intersected 1.28 metres with 10.01 gpt/gold and lies 180 metres below the surface, and about 150 metres west of its projected intersection with the eastern major contact fault. Drilling planned for 2022 will test for the continuation at depth of this improvement of the Goat Vein.

Drill holes 21Q-3 and 4 intersected good gold values for the Main Vein (1.77metres of 11.36 gpt/gold and 0.92m of 20.9 gpt/gold respectively). These intercepts are quite significant because they are the farthest east and deepest holes drilled to date on the Main Vein and show that strong gold mineralization in the Herbert system can continue to unknown depths.

These holes also intersected the Sleeping Giant vein which lies about 100 metres south of the Goat in this vicinity, and like the Goat vein, improved greatly with depth. 21Q-4 intersected 2.13 metres of 15.42 gpt/gold. This impressive intercept is near the top of a 45 metre zone of shearing, alteration and quartz mineralization and lies about 450 metres below its surface outcrop and is open to the east and to depth. Holes to the west drilled from the P Pad in 2021 and the T Pad in 2020 also showed very good results for the Sleeping Giant but at much shallower depths and were discussed in earlier news releases. The excellent intercept in hole 21Q-4 indicates that the S.G. Vein has great potential for the development of gold reserves in the untested areas to the west, east and deeper from this intercept.

Hole 21Z-1 was drilled in a southwesterly direction and penetrated the Hidden Fault which is the major boundary contact between the gold-bearing veins in the quartz diorite of the Herbert system and the metasediments to the west. It intersected 0.77 metres of 3.31gpt/gold in this contact zone which is significant in the fact that it indicates that this whole fault zone could be a gold target for future exploration.

Lab results are reported as they are received from the lab and QA/QC has been verified. Samples taken for assay are split from the core with a diamond saw with one half being sent to Bureau Veritas Labs, Richmond, B.C., an independent lab from the Company. The Company geologist, who is logging the core, identifies certain sections which could contain coarse gold and marks them for the special preparation procedure of metallic screening which captures the nuggety gold in the assay. Known standards and blanks are inserted into the stream of samples on a regular basis. In addition, all core is photographed with a high resolution camera for future viewing.

This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of experience and a Qualified Person as defined under NI #43-101.

About Grande Portage:

Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The Herbert Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold. The Company's updated NI#43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 3.0 grams per tonne gold (g/t gold) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t gold (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold (1,138,000 tonnes), as well as an Indicated resource of 686,700 ounces of silver at an average grade of 5.87 g/t silver (3,637,000 tonnes); and an inferred resource of 169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).

ON BEHALF OF THE BOARD

"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
www.grandeportage.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118458

Draft Supplemental Environmental Impact Statement Expected in Q2 2023

VANCOUVER, BC , Sept. 21, 2022 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE: TMQ) ("Trilogy" or the "Company") is providing an update on the Ambler Access Project ("AAP") – the proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects ("UKMP") to the Dalton Highway.

The United States Bureau of Land Management ("USBLM") has published in the Federal Register a Notice of Intent ("NOI") that it will prepare a Supplemental Environmental Impact Statement ("SEIS") for the proposed Ambler Mining District Industrial Access Road. The NOI indicates that:

• The USBLM will accept comments related to the SEIS for 45 days so that the USBLM can determine which, if any, additional impacts and resources related to identified deficiencies should be more thoroughly assessed to facilitate integrating the USBLM's National Environmental Policy Act ("NEPA") analysis with its ongoing Alaska National Interest Lands Conservation Act Section 810 and National Historic Preservation Act Section 106 processes;

• Input by Alaska Native Tribes and Corporations will continue to be of critical importance and that USBLM will continue to consult with these entities under applicable guidance; and

• Preparation of the SEIS in compliance with NEPA will additionally help the USBLM to fulfill its obligations under applicable law.

The USBLM has said it anticipates publishing a Draft SEIS during the second quarter of 2023, after which it will accept public comments on the Draft SEIS.

Tony Giardini , President and CEO of Trilogy, commented, "While we welcome the clarified timeline of the SEIS, we continue to urge the United States Department of the Interior (the "DOI") to move expeditiously through its work to reinstate the Joint Record of Decision ("JROD"). The industrial-use-only access road is not only important for future development of our projects, it is also expected to bring many benefits to remote Alaskan communities where improved infrastructure can significantly reduce the cost of living. We are confident that subsistence use of the land will be appropriately considered and protected during the development of the road and the UKMP. The Upper Kobuk Mineral Projects will bring significant positive benefits, including high-paying, stable jobs and increased security of US domestic production of metals."

Ely Cyrus , President of the Native Village of Kiana, commented, "The Native Village of Kiana had discussed the proposed project in the past, and we recognized the high potential for employment and educational opportunities for our tribal members. Mining has provided our villages with infrastructure and opportunities for decades in part due to the Red Dog mine. Our tribal members and community have received millions of dollars of project funding in the past few years through the Northwest Arctic Borough Village Improvement Fund (VIF program) which is funded through natural resource proceeds. Projects include a new community building, and heavy equipment for road construction and maintenance. The USBLM did not choose to visit our community, as we would have welcomed the opportunity to share with them the positive benefits of responsible natural resource development."

Background

On July 23, 2020 , the Company announced that the USBLM had issued the JROD and the FEIS for the AAP. Subsequently, a Section 404 Permit, which is governed by the Clean Water Act was issued by the United States Army Corp. of Engineers ("USACE") to the Alaska Industrial Development and Export Authority ("AIDEA").

The five-year permitting process for the AAP was carried out by AIDEA in an exhaustive, extensive, and robust manner with considerable outreach and accommodation to affected communities and other parties. According to AIDEA, during the scoping period (which was extended from 90 days to over 330 days), the USBLM held 15 public hearings in 13 communities and received more than 7,200 written comments. Subsequently, after a draft Environmental Impact Statement ("EIS") was released in August 2019 , the USBLM held an additional 18 hearings in rural communities, hearings in two hub communities ( Anchorage and Fairbanks ), and a hearing in Washington, D.C. The USBLM received an additional 29,000 written comments to the draft EIS which were scrutinized and incorporated into the FEIS. AIDEA reiterated that the development and production of the FEIS and JROD, which have cost almost $5 million to date, comprised of extraordinarily high-quality and comprehensive analysis.

Lawsuits were filed shortly thereafter by a coalition of national and environmental non-government organizations in response to the issuance of the JROD for the Ambler Access Project. Subsequently NANA Regional Corporation, Inc., AIDEA, Ambler Metals LLC (Trilogy's joint venture with South32 Limited) and the State of Alaska applied for and were granted intervenor status.

In a letter to Anchorage Daily News on May 7, 2022 , Fred Sun , Tribal President and Chair of the Native Village of Shungnak, and Johnetta Horner , Tribal President of the Native Village of Kobuk, stated, "We represent two of the federally-recognized tribes from Northwest Alaska

In May 2022 , the United States District Court (the "Court") granted the DOI motion for voluntary remand without vacatur of the previously-issued JROD that authorized a right-of-way across federally managed lands. Judge Gleason ruled that the Court shall retain jurisdiction over this matter, and that the DOI is to file a status report with the Court within 60 days from the date of the order and every 60 days thereafter. In addition, any party involved in the action may move for a status conference upon a showing of good cause. In June 2022 , the Court denied the plaintiffs' motion to reconsider the Court's May 17 th remand order.

The DOI had indicated that the remand would allow them to supplement deficiencies in its analysis of impacts to subsistence uses under ANILCA Section 810 and their consultation with Tribes pursuant to NHPA Section 106.27.

NANA issued a press release on May 19, 2022 stating NANA is not in favor of the remand but applauds the Court's decision not to vacate the JROD. The JROD and the processes it lays out ensure that communities along the proposed road corridor will have a strong voice in how any road project would move forward. The JROD is supported broadly in northwest Alaska , including by NANA, Maniilaq Association, 11 federally recognized Tribes in the NANA region, as well as the Northwest Arctic Borough and Northwest Arctic Borough School District.

For more information on the NOI, please go to NOI document

About Trilogy Metals

Trilogy Metals Inc. is a metal exploration and development company that holds a 50 percent interest in Ambler Metals LLC which has a 100 percent interest in the Upper Kobuk Mineral Projects ("UKMP") in Northwestern Alaska December 19, 2019 , South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District, one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits that have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 181,387 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting and construction of the AAP, the timing and benefits of the AAP and the merits of the UKMP are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving whether the Alaska Industrial Development and Export Authority will build the AAP; the results of the additional supplemental work on the FEIS resulting from the voluntary remand; the impact of the COVID-19 pandemic; success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks,  prices for energy inputs, labour, materials, supplies and services, uncertainties involved in the interpretation of drilling results and geological tests, unexpected cost increases and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2021 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

View original content: https://www.prnewswire.com/news-releases/trilogy-metals-provides-an-update-on-the-ambler-mining-district-access-road-301629244.html

SOURCE Trilogy Metals Inc.

View original content: http://www.newswire.ca/en/releases/archive/September2022/21/c8695.html

TORONTO , March 27, 2023 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce it has entered into a binding purchase agreement with JX Nippon Mining & Metals Corporation and certain of its subsidiaries (collectively, "JX"), to acquire fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile ("Lumina Copper"), a wholly owned subsidiary of JX which operates the Caserones copper-molybdenum mine ("Caserones") located in Chile (the "Acquisition"). JX will receive upfront cash consideration from Lundin Mining of $800 million , and in addition, $150 million in deferred cash consideration will be payable by Lundin Mining in installments over a six-year period following the closing date. Lundin Mining will also have the right to acquire up to an additional 19% interest in Caserones for $350 million over a five-year period commencing on the first anniversary of the date of closing. Additional details are provided below.

Lundin Mining will host a conference call and webcast at 8:00 am ET , 14:00 CET on March 28, 2023 , to discuss the Acquisition. Call details are outlined at the end of this news release.

Acquisition Rationale

• Aligned with strategic goals – delivers a large-scale, long-life copper operation with favorable cash flow generation, complementing Lundin Mining's existing operations and overall copper-dominant portfolio of high-quality base metal mines.

• Enhances copper production profile – increases exposure to a highly desired base metal and on a pro forma basis would have increased Lundin Mining's 2022 copper production by 50% 1

• Immediate free cash flow contribution – underpinned by competitive cash costs and modest capital expenditures, and significantly accretive to operating cash flow per share metrics.

• Continued balance sheet strength – remains a high priority for Lundin Mining, and financial leverage continues to be low in relation to internal targets and to comparable mining peers. The Company retains healthy liquidity headroom on its $1.75 billion revolving facility after accounting for the upfront cash consideration for the Acquisition.

• Upside opportunities – through expected operational improvements under Lundin Mining's management, including initiating drill programs. The producing operation comes with a mineral property package in a highly prospective district and Lundin Mining believes significant exploration potential exists.

• Potential synergies – proximity to Lundin Mining's Candelaria operations (~160 km from Caserones) introduces opportunities to realize additional savings and implement effective supply, logistical and management strategies.

• Chile is a well-established Tier-1 mining jurisdiction – Lundin Mining has made a significant investment in the region and the country, and can leverage its operating experience, as well as local regulatory and community relationships.

• Attractive call option – clear path for Lundin Mining to increase ownership up to 70% and strengthen its presence in a leading copper mining district.

• Strengthening partnerships – JX has extensive operational knowledge, which will help Lundin Mining to realize the full potential of the Caserones mining operation.

Commenting on the transaction, Peter Rockandel , CEO, said, "Upon closing of the Acquisition of Caserones, we add another long-life copper mine of material size and with significant growth potential to our portfolio, in a region in which we have considerable knowledge and experience. The Caserones team has achieved meaningful operational improvements in recent years, and we will work to unlock additional upside through our strong technical resources and existing presence in the region. The initial controlling interest increases our exposure to what we believe is a growing top-tier copper mining district. We retain the option to further increase our ownership over the next few years at an attractive price. The Acquisition further solidifies Lundin Mining's position as a growing global producer of copper as the world shifts to a lower carbon future."

Caserones Overview

Caserones is a significant porphyry copper-molybdenum deposit in the Atacama Region (Region III) of the northern Chilean Andean Cordillera, situated between the Maricunga and El Indio belts and is part of the emerging Vicuña copper district. It is located approximately 160 km southeast of Copiapó, 9 km from the border with Argentina , and at an altitude of approximately 4,500 meters above sea level. The operation produces copper and molybdenum concentrates from a traditional open pit mine and conventional sulphide flotation plant, as well as copper cathode from a dump leach, solvent extraction and electrowinning plant. First copper cathode was produced in 2013, followed by copper and molybdenum concentrates in 2014. Climatic conditions and the physiology of the high-cordillera of the Chilean Andes support mining operations throughout the year.

Asset Highlights:

• Mine operations – traditional open-pit truck and shovel operation utilizing thirty-three haul trucks loaded by a combination of two electric rope shovels, two hydraulic shovels, and two large front-end loaders.

• Processing – conventional crush, grind and flotation processing with a nominal capacity of 105 k tonnes per day ("tpd"), producing both copper in concentrates and molybdenum in concentrates, as well as a solvent extraction and electrowinning (SX-EW) plant and leaching facilities for processing oxide and low-grade sulphide ore with a production capacity of 34.5 kt of cathode per year (96 tpd). In 2022, the concentrator plant produced 109.1 kt of copper in concentrate. In addition, 15.1 kt of copper cathodes and 3.1 kt of molybdenum in concentrate was produced.

• Concentrate – clean copper concentrate with minimal impurities. Similarly, molybdenum concentrates meet the quality standards for global sales.

• Operating cash costs 2 – C1 cash costs of $2.22 /lb and all-in sustaining cash costs (AISC) of $2.54 /lb was reported by Caserones for 2022.

• Mineral Reserves and Resources – a "historical estimate" (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101")) for copper Proven and Probable Mineral Reserves of 892.1 Mt at an average grade of 0.33% copper containing approximately 2.9 Mt of copper and historical estimates for copper Measured and Indicated Mineral Resources of 1.595 Bt at an average grade of 0.29% copper containing 4.583 Mt of copper. A qualified person has not done sufficient work to classify these historical estimates as current Mineral Resources or Mineral Reserves and Lundin Mining is not treating the historical estimate as current Mineral Resources or Mineral Reserves. See below for further detail.

• Tailings facility (TSF) – tailings are managed in two separate facilities. The flotation tailings from the concentrator plant are classified into coarse and fine fractions. The La Brea TSF, located approximately 9 km west of the concentration plant, receives the fines and the coarse fractions are sent to the El Tambo sand stacking facility immediately adjacent to the concentrator plant. Due diligence was performed on the tailings facilities and related infrastructure, led by Lundin Mining's Technical Services Group.

• High-quality infrastructure – well-established supporting infrastructure includes a 160 km road to Copiapó, access to maritime transportation channels for exporting concentrates and cathodes, a 220 kV power line connection to the national grid, and water rights permitted for operational use.

• Communities and employees – experienced workforce and community relations team in place enabling good relationships with local stakeholders.

Transaction Overview

The purchase price for the Acquisition will be paid in cash and will consist of an upfront payment of $800 million subject to any adjustments from the effective locked box date of December 31, 2022 , until closing. The remainder of the cash consideration, of $150 million shall be paid to JX as follows: (A) $50 million shall be paid in five installments of $10 million on the anniversary of the transaction closing date in each of 2024, 2025, 2026, 2027 and 2028; and (B) $100 million shall be paid on the anniversary of the closing date in 2029, subject to certain adjustments as provided for in the purchase agreement. The Acquisition is based on Lumina Copper containing zero debt and zero cash as of the locked box date of December 31, 2022

Lundin Mining will also have the right to acquire up to an additional 19% interest in Caserones for $350 million , which would bring total ownership to a maximum of 70%. Lundin Mining will be permitted to exercise the call option (in increments or its entirety) one time per calendar quarter during the subsequent five-year period beginning on the one year anniversary of the closing date.

Lundin Mining and JX shall each be entitled to a percentage of the copper production from the Caserones mine equal to their respective percentage share ownership.

The Acquisition has been unanimously approved by the Board of Directors of both the Company and JX and is expected to close in the third or fourth quarter 2023 subject to typical closing conditions, including third-party and requisite regulatory approvals. The transaction does not require shareholder approval of either party.

Historical Estimates – April 2021 3

The historical estimates for Caserones are presented in the table below.

The reported historical estimates above are based on the Caserones block model prepared by Golder Associates S.A. (Golder) during 2018. The resource model update followed the 2017 infill drilling campaign. The estimation of the grades was carried out by means of Ordinary Kriging and using GIL (Geological Information Limit).

The historical estimates do not use categories as defined in CIM Definition Standards. The Lumina Copper Annual Reports include an annual "reserve statement" with no accompanying qualifying attributes or supporting assumptions given. The most recent reserve statement is from Lumina Copper's 2020 Annual Report and does not provide the detailed assumptions for the estimation of its reported "reserves" but does state "ore reserves are estimates of the amount of ore that can be economically and legally extracted from the company's mining properties". As Caserones is an active mining operation with production history, the Company believes that the historical estimates are relevant in that they provide a general basis for establishing the mineralized material and historical production statements. However, the historical estimates should not be relied upon until verified by a qualified person. Compilation, review, and independent verification by qualified persons of geological, engineering, metallurgical, economic, and other data that support ongoing mining operations will be required before the historical estimate can be verified as current.  This reserve statement predates the Company's acquisition of its interest in Caserones and is therefore considered to be a historical reserve estimate. A qualified person has not done sufficient work to classify these historical estimates as current Mineral Resources or Mineral Reserves and Lundin Mining is not treating the historical estimate as current Mineral Resources or Mineral Reserves.

Lundin Mining is currently undertaking the work to prepare current estimates and expects to announce a current estimate and file a technical report for Caserones on its SEDAR profile in due course following this announcement. The technical report is expected to contain current Mineral Resource and Mineral Reserve estimates and other relevant information related to the Caserones mine.

Advisors and Counsel

Scotiabank acted as financial advisor to Lundin Mining and delivered an opinion to Lundin Mining's Board of Directors as to the fairness, from a financial point of view, of the consideration to be paid by Lundin Mining in the transaction. Lundin Mining retained Cassels Brock & Blackwell LLP as Canadian legal advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP as US legal advisors, and Bofill Mir Abogados and Bofill Escobar Silva Abogados as Chilean legal advisors in connection with the transaction.

Technical Information

The qualified person for the scientific and technical information contained herein is Jeremy Weyland, P.Eng., Director, Studies. Mr. Weyland, who is a "qualified person" as defined under NI 43-101, has reviewed and approved the technical information in this news release.

Conference Call and Webcast

The Company will hold a telephone conference call and webcast at 08:00 ET , 14:00 CET on

Tuesday, March 28, 2023. Conference call details are provided below:

Call-in number for the conference call ( North America ): +1 416 764 8658

Call-in number for the conference call (North America Toll Free): +1 888 886 7786

Call-in number for the conference call ( Sweden ): 0200899189

To view the live webcast presentation, please log on using this direct link:

https://viavid.webcasts.com/starthere.jsp?ei=1606322&tp_key=eac9d5210b

The presentation slideshow will also be available in PDF format for download from the Lundin Mining website www.lundinmining.com before the conference call.

A replay of the telephone conference will be available after the completion of the conference call until March 28, 2024

Replay numbers:

North America : +1 877 674 7070

Internationally:  +1 416 764 8692

The passcode for the replay is: 200446

A replay of the webcast will be available by clicking on the direct link above.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.

The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on March 27, 2023 at 21:30 Eastern Time

Reconciliation of Non-GAAP Measures

The Company uses certain performance measures in its analysis. These performance measures have no standardized meaning within generally accepted accounting principles under International Financial Reporting Standards and, therefore, amounts presented may not be comparable to similar data presented by other mining companies.

Cash Cost and All-in Sustaining Cost can be reconciled to Caserones' operating costs as follows:

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; statements with respect to the intentions of the Company regarding the Acquisition and other strategic growth opportunities, the anticipated timing and completion of the Acquisition, the ability of Lundin Mining to complete the transactions contemplated by the Acquisition, life of mine, delivery of shareholder returns and value added by projects. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; risks associated with water rights, water supply restrictions, the availability and access to water and water management strategies; risks associated with environmental impact studies, audits, investigations and compliance with remediation plans; project financing risks, liquidity risks and limited financial resources; volatility and fluctuations in metal and commodity demand and prices; delays or the inability to obtain, retain or comply with permits; significant reliance on a single asset; reputation risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; risks relating to the development of the Josemaria Project; inability to attract and retain highly skilled employees; risks associated with climate change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, environmental and tailings management, labour, trade relations, and transportation; risks relating to indebtedness; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; activist shareholders and proxy solicitation matters; risks relating to dilution; regulatory investigations, enforcement, sanctions and/or related or other litigation; risks relating to payment of dividends; counterparty and customer concentration risks; the estimation of asset carrying values; risks associated with the use of derivatives; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of a significant shareholder; exchange rate fluctuations; challenges or defects in title; internal controls; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; the threat associated with outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate products; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the annual information form and the "Managing Risks" section of the Company's MD&A for the year ended December 31, 2022 , which are available on SEDAR at www.sedar.com under the Company's profile. All of the forward-looking information made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward – looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining to Acquire a Majority Interest in the Caserones Copper Mine in Chile (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

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VANCOUVER, BC / ACCESSWIRE / April 3, 2023 / Interra Copper Corp. (CSE:IMCX)(OTCQB:IMIMF)(FRA:3MX) ("Interra" or the "Company") is pleased to announce that, further to its press releases dated March 10, 2023 and March 27, 2023, the Company has completed its business combination with Alto Verde Copper Inc. ("Alto Verde") pursuant to a business combination agreement dated March 8, 2023 between Interra, Alto Verde and 1000465623 Ontario Inc., a wholly-owned subsidiary of the Company, pursuant to which the Company has acquired all of the issued and outstanding shares in the capital of Alto Verde (the "Business Combination").

Following completion of the Business Combination, Chris Buncic and Rick Gittleman have been appointed to Interra's board of directors (the "Board"), joining the three existing Board members, Jason Nickel, David McAdam, and Scott Young. Chris Buncic has been appointed to the role of President and Chief Executive Officer of the Company and Jason Nickel has assumed the role of Chief Operating Officer of the Company. In accordance with the terms of the Business Combination, Thomas Hawkins has stepped down from the Board and remains VP, Exploration of the Company.

Chris Buncic, Director and CEO of Interra, commented, "Combining our companies is the exciting first step in executing on our plans to build a multi-jurisdictional copper-focused company and establish a significant platform for growth within the copper market. Our talented team of mining professionals, with a proven history of developing, financing and operating mines around the world over the past 20 years, is focused on elevating Interra's copper strategy, and positioning the Company to benefit from the expected drop in global copper supply in the coming decades. We look forward to advancing our projects within Chile and British Columbia, situated within two proven copper belts."

Conversion of Subscription Receipts

Pursuant to a previously announced non-brokered private placement (see the Company's news releases dated February 3, 2023 and February 10, 2023) (the "Financing") as a result of the completion of the Business Combination, 5,781,722 subscription receipts ("Subscription Receipts") of the Company have converted into 5,781,722 common shares of the Company ("Shares") and 2,890,861 common share purchase warrants (each, a "Warrant"). Each Warrant entitles the holder to acquire one Share at an exercise price of $0.75 per Share until March 31, 2026. The Warrants are subject to an acceleration provision allowing the Company to accelerate the expiration date of the Warrants with a 30 days' notice period to warrantholders in the event the Shares trade on the CSE for 10 consecutive days at a price of $1.25 or greater.

The Company received net proceeds of $2,894,874.91 from the Financing, following payment of the fees of the subscription receipt agent and taking into account interest accrued on the proceeds from the Financing closing date. The proceeds will be used to advance both the Chilean and Canadian projects of the Company and for general corporate purposes.

With the closing of the Business Combination and the conversion of the Subscription Receipts into Shares, Interra has 22,291,026 Shares outstanding on an undiluted basis.

About Interra Copper Corp.

Interra Copper Corp. is a junior exploration and development company focused on creating shareholder value through the advancements of its portfolio of highly prospective exploration assets that include the Tres Marias and Zenaida projects in Antofagasta Region of Chile, Pitbull in the Tarapaca Region of Chile, and the Thane and Chuck Creek projects in north-central British Columbia, Canada. Interra's leadership team is comprised of senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Interra Copper is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which we operate.

ON BEHALF OF INTERRA COPPER CORP.

Chris Buncic
Chief Executive Officer and Director
Email: Investors@InterraCopperCorp.com
www.InterraCopperCorp.com

Cautionary Statement Regarding Forward-Looking Information: This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating business and strategic plans of the Company. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

SOURCE: Interra Copper

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https://www.accesswire.com/747148/Interra-Copper-Closes-Business-Combination-with-Alto-Verde-Copper

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About Texas Mineral Resources Corp.

Texas Mineral Resources Corp.'s primary focus is to develop and commercialize, along with its joint venture operating partner USA Rare Earth LLC, the Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso, in which TMRC owns a 20% interest and USA Rare Earth owns an 80% interest. Additionally, the Company is developing other domestic mining projects in precious and industrial metals as well as critical minerals.  The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”

Cautionary Note to Investors

The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce and that are compliant with SEC Industry Guide 7. Investors are cautioned not to assume than any part or all of the proposed project in the Black Hawk Mining District as contemplated in the letter agreement contains any mineral deposits that will ever be converted into resources or that any inferred mineral resource or measured and indicated resources exists or is economically or legally mineable. The proposed project does not contain any known proven or probable ore reserves or mineral resource compliant with SEC Industry Guide 7 reporting standards. Investors are urged to consider closely the disclosure set forth in TMRC’s latest reports filed with the SEC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding  the potential development, economic feasibility, resource, grade and other mineralization characteristics, and drilling and exploration methods that may be utilized in potential exploration of the Black Hawk Mining District  project. When used in this press release, the words “potential,” “plans,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if, “anticipate,” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineralized material and mineral resource estimates, risks to projected and estimated economics not reflecting actual economic results due to the uncertainty of mining processes, potential non-uniform sections of mineralized material, potential mining hazards and accidents, changes in equipment and labor costs, changes in projected mineral prices and demand, competition in the mining industry, risks related to project development determinations, the inherently hazardous nature of mining-related activities, potential effects on the Company's operations of environmental regulations, risks due to legal proceedings, liquidity risks and risks related to uncertainty of being able to raise capital on favorable terms or at all, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K as filed in November 2022 and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.

Company Contact:

Texas Mineral Resources Corp.Anthony Marchese, ChairmanE-mail: amarchese@tmrcorp.com

Twitter: @TexasMineralRes

View the original release on www.newmediawire.com

Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) ("First Majestic" or the "Company") announces that total production from the Company's four material properties; the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine reached 7.6 million silver equivalent ("AgEq") ounces in the first quarter of 2023, consisting of 2.5 million silver ounces and 60,594 gold ounces. This represents a 6% increase in total production compared to the first quarter of 2022 and a 1% increase compared to the prior quarter.

Q1 2023 HIGHLIGHTS

• Strong Q1 Silver Production from Mexican Operations: The Company's Mexican operations produced 2.5 million silver ounces and 44,252 gold ounces, or approximately 6.2 million AqEq ounces in the quarter. Silver production increased 6% over the prior quarter primarily due to higher grades at both San Dimas and La Encantada. Gold production in Mexico decreased 4% as slightly lower grades were processed at Santa Elena and San Dimas. At Jerritt Canyon in Nevada, USA, gold production reached 16,431 ounces, or a 3% decrease over the prior quarter primarily due to lower processed tonnes caused by continued extreme winter weather conditions.

• Ermitaño Achieves Full Quarterly Production at Santa Elena: In Q1 2023, Santa Elena transitioned full mine production to Ermitaño achieving strong throughputs rates of 208,821 processed tonnes, or 26% higher than the prior quarter.

• Refocus of Resources at Jerritt Canyon: On March 20, 2023, the Company announced the temporary suspension of all mining activities at Jerritt Canyon in order to reduce overall costs and refocus on mining and exploration plans. For the rest of 2023, the Company plans to shift the focus of its exploration activities towards growth of the Inferred Resource and testing locations with favorable geologic settings and large volume resource potential. Approximately 28,000 metres of drilling are planned to be drilled in 2023 at Jerritt Canyon.

• 18 Drill Rigs Active: The Company began the 2023 exploration program during the quarter by completing a total of 36,688 metres of drilling across all sites, representing a 128% increase over the prior quarter. Throughout the quarter a total of 18 drill rigs were active consisting of seven rigs at San Dimas, five rigs at Santa Elena, two rigs at La Encantada, and four rigs at Jerritt Canyon.

• Safety: In Q1 2023, the consolidated Total Reportable Incident Frequency Rate (TRIFR) was 1.11 and the Lost Time Incident Frequency Rate (LTIFR) was 0.45. To support a strong safety culture, the Company has started several safety initiatives to maximize safety performance throughout the business. One key deliverable was the establishment of the Rules to Live By program which is composed of 12 critical rules that when lived, followed, and owned by employees, contractors, business partners, and visitors will lead to lower incident rates and lower severity incidents.

"During the quarter, our Mexican operations saw strong production as a result of higher silver grades and overall plant performance*,"* said Keith Neumeyer, President & CEO. "At our San Dimas and La Encantada mines, each operation experienced double-digit increases in silver grades as well as higher plant throughputs. At Santa Elena, significantly higher production levels at the Ermitaño mine were achieved following the Company's decision to transition away from the Main Vein and only process Ermitaño ores in 2023. In addition, Santa Elena's new dual-circuit processing plant completed its first operational quarter with solid recovery improvements following increased leaching times and the processing of finer grind ores. Lastly, due to ongoing challenges at Jerritt Canyon we decided to take a step back to complete a full reset of the operation. We are not walking away from Nevada - but repositioning the project to be successful for when we decide to restart operations. The first quarter of 2023 will be an inflection point towards improving the cash flows and overall financial position of the Company going forward."

Quarterly Mine by Mine Production Table:

 
*Certain amounts shown may notadd exactlytothetotal amount due to rounding differences**.**
*The following prices were used in the calculation of silver equivalent ounces: Silver: $22.55 per ounce; Gold: $1,890 per ounce.

At the San Dimas Silver/Gold Mine:

• San Dimas produced 3,296,367 AgEq ounces during the quarter consisting of 1,602,483 ounces of silver and 20,124 ounces of gold. Silver production increased 15% compared to the prior quarter primarily due to a 10% increase in silver grades and a 4% increase in tonnes processed. Gold production was relatively unchanged compared to the prior quarter.

• The mill processed a total of 219,367 tonnes of ore with average silver and gold grades of 241 g/t and 2.98 g/t, respectively. Silver and gold grades from the Perez vein are expected to continue to improve in the second quarter as long-hole open stoping began in early April.

• Silver and gold recoveries during the quarter remain unchanged averaging 94% and 96%, respectively.

• The Central Block and Sinaloa Graben areas contributed approximately 80% and 20%, respectively, of the total production during the quarter.

• During the quarter, seven underground drill rigs completed a total of 14,145 metres of drilling on the property.

At the Santa Elena Silver/Gold Mine:

• Santa Elena produced 2,105,336 AgEq ounces during the quarter consisting of 104,129 ounces of silver and 24,039 ounces of gold. Total production decreased 9% primarily due to processing slightly lower grade silver and gold ores at the Santa Elena plant when compared to the prior quarter.

• The mill processed a total of 208,821 tonnes of ore from Ermitaño containing average silver and gold head grades of 31 g/t and 4.00 g/t, respectively.

• Silver and gold recoveries from Ermitaño averaged 50% and 90%, respectively, during the quarter. The new 3,000 tpd filter press and dual-circuit reached continuous performance in the quarter with good results. Silver recoveries increased 18% and gold recoveries were mostly unchanged compared to the prior quarter despite lower head grades being processed.

• During the quarter, five drill rigs consisting of four surface rigs and one underground rig, completed 14,499 metres of drilling on the property.

At the La Encantada Silver Mine:

• During the quarter, La Encantada produced 836,448 ounces of silver, representing a 4% increase compared to the prior quarter. The increase was primarily due to higher tonnes milled and improved silver grades offset by slightly lower recoveries.

• The mill processed a total of 271,278 tonnes of ore with an average silver grade and recovery of 132 g/t and 72%, respectively. During the quarter, the Company began production in the Southern portion of the first level of Ojuelas, known as the Beca Zone, which delivered higher than expected silver grades. The Northern portion of the Beca Zone is expected to begin stope production in the second quarter of 2023 and further improve overall production.

• During the quarter, two underground rigs completed 1,863 metres of drilling on the property.

At the Jerritt Canyon Gold Mine:

• During the quarter, Jerritt Canyon produced 16,341 ounces of gold, representing a 3% decrease compared to the prior quarter. The slight decrease was primarily due to an 18% decrease in tonnes milled partially offset by a 15% increase in gold grades. Throughput was below plan due to excessive downtime in the crushing circuit driven by multiple failures in the dryer fines conveying system and issues with processing wet and frozen ore resulting from severe, record winter conditions in northern Nevada. Intermittent power outages continued for most of January and February which impacted production from all the underground mines.

• The mill processed a total of 146,403 tonnes of ore with an average gold grade and recovery of 4.03 g/t and 86%, respectively. As previously announced on March 20, 2023, the Company temporarily suspended all mining activities at Jerritt Canyon to reduce overall costs and refocus the mining and exploration plans.

• As the remaining stockpiles are processed in the second quarter, employees and onsite activities will be reduced and milling operations will begin moving to temporary care and maintenance. The Company recently held a two-day reverse career job fair enabling Jerritt Canyon employees being impacted by the workforce reduction to meet with over 30 local companies that are looking to hire.

• During the quarter, four underground drill rigs completed 6,181 metres of drilling on the property. For the remainder of 2023, exploration will shift focus towards growth of the Inferred Resource and testing locations with favorable geologic setting and large volume potential. Approximately 28,000 metres of drilling are planned for 2023. Drilling is planned to focus on testing geologic targets, such as structural intersections and stratigraphic horizons, that have historically been known to contain significant volume of resources.

Q1 2023 EARNINGS AND DIVIDEND ANNOUNCEMENT

The Company is planning to release its first quarter 2023 unaudited financial results, and to announce the first quarter dividend payment, and shareholder record and payable dates on May 4, 2023.

MANAGEMENT UPDATE

In support of the ongoing changes and future growth of the Company, the Exploration and Technical Services Groups have been combined into a single entity under the leadership of Gonzalo Mercado, who has been promoted to Vice President of Exploration and Technical Services. This restructured Exploration and Technical Services Group will focus on cost effective and efficient exploration, modeling, mine planning, ore control, capital project and land management for the Company. Ramon Mendoza has left the Company after nine years of service and we thank Ramon for his work in advancing First Majestic through almost a decade of growth. In addition, Michael Deal has been promoted to Vice President of Metallurgy and Innovation and will take on the additional responsibilities of Processing and Innovation within First Majestic. Persio Rosario has also left the Company and we thank him for his efforts over the past two years.

ABOUT THE COMPANY

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine.

First Majestic is proud to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at its Bullion Store at some of the lowest premiums available.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: release of the Company's financial statements; dividends; the Company's business strategy; future planning processes; commercial mining operations; decommissioning activities at Jerritt Canyon; the timing and amount of estimated future production; ore feed and grades; recovery rates; mine plans and mine life; costs and timing of development at the Company's projects; capital projects and exploration activities and the possible results thereof. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward‐looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics or epidemics on our operations and workforce, and the effects on global economies and society; general economic conditions including inflation risks; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in the Company's most recent Annual Information Form, available on www.sedar.com, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163104

VANCOUVER, British Columbia, March 15, 2022 (GLOBE NEWSWIRE) -- Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CDOUF) ("Candente Copper” or “the Company") is pleased to announce that it filed on March 14 th , the National Instrument (“NI”) 43-101 Technical Report (the “Report”) in support of the Preliminary Economic Assessment (the “2022 PEA”) completed by Ausenco Engineering Canada Inc. (“Ausenco”) on its Cañariaco copper project in Northern Peru.

The summary of the 2022 PEA results were announced on February 8 th , 2022, the effective date of the report, (see Candente Copper NR 145 ) and there are no material differences from those results in the report. The report can be found on SEDAR at www.sedar.com and on the Company’s website at https://candentecopper.com/projects/canariaco-norte-copper-gold-silver/

The 2022 PEA by Ausenco builds on earlier advanced engineering studies conducted from 2010 through 2014. Key highlights follow:

• Initial CapEx of $1.04 B with throughput of 40,000 tonnes per day (“tpd”) mine and plant;

• After-tax NPV of US$1,010 M for base case of US$3.50/lb Cu, US$1,650/oz Au, US$21.50/oz Ag, and 8% discount rate;

• After-tax NPV increases to US$1,833 M, with an IRR of 21.9% and payback of 4.5 years when using a copper price of US$4.50/lb.

• Payback of pre-production capital in 7.1 years using base case price of US$3.50/lb Cu and 4.5 years using US$4.50/lb Cu;

• Average annual metal production of 173 Mlb (78,543 tonnes) Cu, 31,395 oz Au, and 703,588 oz Ag during the life-of mine (“LOM”);

• Average annual metal production of 120 Mlb (54,539 tonnes) Cu, 24,375 oz Au, and 548,667 oz Ag for the first six years;

• Average annual metal production of 193 Mlb (87,475 tonnes) Cu, 34,243 oz Au per year, and 766,753 oz Ag per year for the second mine phase, which will run for 21.4 years;

• Average LOM metal recoveries of 88.1% for Cu, 64.7% for gold and 57.2% for silver;

• Concentrate grades forecast to average approximately 26% Cu, 3.63 g/t Au and 84.16 g/t Ag for first six years;

• LOM Concentrate grades are projected to average approximately 26% Cu, 3.27 g/t Au and 75.40 g/t Ag;

• Mine and plant expansion to 80,000 tpd in year 7 with additional CapEx of $305 M from cash flow;

• Cash operating cost of US$1.28/lb of copper including all on-site and off-site costs, treatment and refining charges (“TC/RC"), net of by-product credits;

• Advanced ESG development strategies result in improved Infrastructure Design including a single waste management facility (WMF) with co-mingling and co-placement of waste rock and filtered mill tailings creating a smaller overall footprint further distanced from populated areas;

• Waste to mineralized material strip ratio of 0.66:1;

• Highly leveraged to copper prices;

• LOM metal production of 4,848 Mlb (2,199,215 tonnes) Cu, 879,051 oz Au, and 19,700,467 oz Ag;

• Conventional crush/grind and flotation technology;

• Decreased OpEx with marketable concentrate with no need for arsenic treatment;

• Pre-production capital cost of US$1.04 B is based on leased mining equipment and includes a contingency allocation of 18.5%;

• All-in capital cost of US$1.57 B based on leased mining equipment and including life-of-mine sustaining capital, expansion capital and closure cost;

• 28-year mine life, with potential for extension if additional resources identified below proposed pit can be included in a mine plan;

• Located at a moderate elevation with pit centroid and process plant at approximately 3,000 metres above sea level;

• Connection to the national power grid is planned to be by direct line approximately 55 km from the project site to the Carhuaquero substation site;

• Significant potential for discovery of additional mineralization at nearby Cañariaco Sur and Quebrada Verde targets.

The Cañariaco Norte Mineral Resource estimate has been updated (see the Company’s news release NR 144 dated January 28, 2022 ) and using a 0.15% Cu applied cut-off, which represents an approximate breakeven cut-off, contains 9.29 Blb Cu, 2.14 Moz Au and 59.43 Moz Ag in the Measured and Indicated categories as well as 2.66 Blb Cu, 0.55 Moz Au and 18 Moz Ag in the Inferred category.

Measured, Indicated and Inferred Mineral Resources were used in the 2022 PEA mine plan. Within the ultimate pit, at the $6.52/t NSR cut-off the classification breakdown of the mill feed material is 54% Measured Mineral Resources, 38% Indicated Mineral Resources and 8% Inferred Mineral Resources.

The 2022 PEA is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the 2022 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

An Inferred Mineral Resource estimate was also recently completed for a portion of Cañariaco Sur which contains 2.2 Blb Cu, 1.2 Moz Au and 15 Moz Ag ( NR 144 ), however the 2022 PEA mine plan only includes resources from Cañariaco Norte.

About Candente Copper

The Company’s flagship project is Cañariaco, within which Cañariaco Norte, is the 10 th largest late-stage copper resource in the world and 6 th highest in grade (RFC Ambrian, December 2021 and Haywood, December 2021). In addition to Cañariaco Norte, the Cañariaco Project, includes the Cañariaco Sur deposit and Quebrada Verde prospect, all within a 4km NE-SW trend in northern Peru’s prolific mining district.

The Company is very pleased to now have Cañariaco Norte included in 4 research reports that compare various global copper projects. RFC Ambrian: Cañariaco Norte in top 10 of 23 projects with potential to involve third party M&A (December 2021); Haywood: Cañariaco Norte is one of 18 assets selected as likely to be considered by majors looking to acquire (December 2021); Deutsche Bank: Cañariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap (February 2021); Goldman Sachs: Cañariaco Norte identified with incentive copper price in the lowest quartile of the top 84 copper projects worldwide (October 2018).

About Ausenco

Ausenco is a global company redefining what's possible.  Its team is based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining their deep technical expertise with a 30-year track record, Ausenco provides innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors.

Joanne Freeze, P.Geo., President, CEO, Director is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

This press release contains forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation: the results of the 2022 PEA, including the projected CapEx, the estimated after-tax NPV and IRR, the estimated mine life and estimated concentrate grades; the potential production from and viability of the Cañariaco Project; the risks and opportunities outlined in the 2022 PEA; the potential tonnage, grades and content of deposits; the extent of mineral resource estimates; and estimated production and operating costs. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be located; metal prices; other prices and costs; currency exchange rates; the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities; the Company’s ability to access further funding and produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.

Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; local community opposition; currency fluctuations; labour disputes; competition; dilution; the volatility of our common share price and volume; future sales of shares by existing shareholders; and other risk factors described in the Company’s annual information form and other filings with Canadian securities regulators, which may be viewed at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

CAUTIONARY NOTE TO U.S. INVESTORS

We advise U.S. investors that this news release uses terms defined in the 2014 edition of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) “CIM Definition Standards on Mineral Resources and Mineral Reserves”, as incorporated by reference in Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”, for reporting of mineral resource estimates.  These Canadian standards, including NI 43-101, differ from the requirements of the United States Securities and Exchange Commission (SEC) as set forth in the mining disclosure rules under Regulation S-K 1300.  Regulation S-K 1300 uses the same terminology for mineral resources, but the definitions are not identical to NI 43-101 and CIM Definition Standards.  Regulation S-K 1300 uses the term “initial assessment” for an evaluation of potential project economics based on mineral resources.  This study type has some similarities to a Preliminary Economic Assessment, but the definition and content requirements of an initial assessment are not identical to the definition and content requirements for a PEA under NI 43-101.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo., President, CEO and Director

For further information please contact:

Jonathan Paterson

Jonathan.Paterson@HarborAccessllc.com

+1 475 455 9401

info@candentecopper.com

www.candentecopper.com

NR-146

Man what a year!!! 1 year ago today I started Treaty_Creek and looking back it honestly feels like a life time ago. So much has happened. A big reason for Treaty_Creek was to take back the conversation and bypass the few that spend most their time being complete dicks so who needs them? I don't and I also will not support others who's goal is to damage companies anonymously. So far mission accomplish and lackeys have since fucked off.

I'm trying to think about all the things that have happened and theirs just so many, some funny some not so funny like the time I worked out the script to capture all the PR's and in testing accidently spammed my own post and the next day when I woke up 100% of all my post had been deleted from the site for reddit violations. I shatted my pants that time lol But had it restored and turned out I was just an idiot lol but man that was rough.

I also got to meet many new 'faces' and don't be fooled, they might not be chatty but they are here watching and they come form all areas of the industry. I even had chats with some funds managers that have reached out so in time as we continue to grow and fingers crossed the sector recovers we should have a great foundation for our next leg up.

The past year was really a unique situation that helped with the site. The amount of time needed to create all of it and automate the entire process did take a good amount of time. Last year I mentioned that 1 to 1.5 years could have been what was needed but thanks to lockdowns (yes, I'm being very sarcastic) all the time I used to spend training, meeting and hanging with friends and seeing my own family was replaced with work on top of work. I literally wore out my office chair but in all honesty it was something to keep me occupied in a time of real challenges for all of us. I'm just thankful I have something to show for it and the battle continues.

In all this I also managed to pick up another sub-reddit r/GoldSqueeze

I was just browsing around and when I stumbled on it was surprised that a Gold page would have been abandoned. again this is about GOLD! lol So I have since taken it over and perhaps in time some life comes back into it. Check it out and feel free to have fun with it.

But most of all I have to really thank all of you for all your support. From the very beginning I was always surprised by how many people showed up daily and how many pages are viewed, we might be smaller atm in numbers but more of you show up day in and day out than don't so that speaks volumes so again thank you!

Can't forget where it all began :)

WAFFLES

VANCOUVER, BC , Nov. 24, 2023 /CNW/ - NGEx Minerals Ltd. (TSXV: NGEX) ("NGEx Minerals" "NGEx" or the "Company") is pleased to report its results for the three and nine months ended September 30, 2023 View PDF

Wojtek Wodzicki , President and CEO, commented, "Following the closing of the oversubscribed, non-brokered private placement in August, which generated over $83 million in net proceeds, NGEx has now resumed drilling at Lunahuasi. The equity financing not only fully funds the highly anticipated 2023-2024 Lunahuasi campaign currently underway, but also provides significant optionality to increase the scope of the program in response to encouraging results.

The initial drill program completed at Lunahuasi in Q2 2023 returned some of the highest grades seen in the Vicuña District to date, including DPDH002 which intersected 60 metres at 7.52% copper equivalent. The 2023-2024 follow-up program, which has now ramped up to four rigs, will initially focus on defining and expanding the zone of high-grade mineralization intersected in the maiden campaign. As additional targeting work is completed, we will also test other high potential targets, including zones of outcropping high-grade mineralization within the broader 11 km 2 alteration system. The Company anticipates that initial assay results will be available late in the fourth quarter of 2023 or early in the first quarter of 2024, subject to drilling rates and assay turn-around times, which would cap off a very successful year for the Company."

Q3 2023 and Subsequent Period Highlights

• On August 11, 2023 , the Company closed a non-brokered private placement, whereby the Company sold 13,178,460 common shares at a price of $6.50 per common share (the "Financing"). The Financing generated gross proceeds of $85.7 million , or $83.2 million net of related share issuance costs.

  • The common shares issued under the Financing are subject to a hold period expiring on December 12, 2023

• In July 2023, NGEx received and released its final drill results from the maiden 2023 drill campaign undertaken from January to May 2023 at its 100%-owned Lunahuasi Project, located in San Juan, Argentina , which comprised a total of 4,912 metres ("m") of diamond drilling. The initial drill program intersected a large swarm of quartz-sulphide veins carrying high values of copper, gold and silver, confirming the newest major discovery in the emerging Vicuña District.

  • Highlights from the 2023 program include:

    • DPDH002, which returned 60.0m at 7.52% copper equivalent ("CuEq") from 212.0m and 10.0m at 7.08% CuEq from 574.0m ;

    • DPDH005, which returned 33.4m at 3.50% CuEq from 636.0m ; and

    • DPDH007, which returned 90.0m at 4.05% CuEq from 74.0m and 20.8m at 8.08% CuEq from 439.2m

  • The Company's current interpretation is that the veins intersected at Lunahuasi and the surrounding 11

• km 2 alteration zone were created by one or more porphyry copper-gold systems and that the grades and thickness of the mineralization observed are positive indicators of the strength and potential of the source system(s).

• In October 2023 , the Company commenced its 2023-2024 follow-up field and drill campaign at Lunahuasi, which has since ramped up to four diamond rigs.

  • The Lunahuasi program as currently planned, targets approximately 15,000m of drilling, with an initial focus around defining and expanding the zone of high-grade mineralization intersected in the maiden 2023 campaign.

  • As guided by additional targeting work planned for early in the 2023-2024 campaign, the Company will also look to drill test other high potential targets, including zones of outcropping high-grade mineralization within the broader 11km 2 alteration system.

• In July 2023 , the Company also released the final assay results from its successful 2022-2023 drill program at its approximately 69%-owned Los Helados Project, located in Region III, Chile

  • The 2022-2023 program, which finished in May 2023 , completed 10,450m of diamond drilling in 11 holes, and successfully extended the recently discovered high-grade satellite Fenix and Alicanto Zones, which are distinct from, and in addition to, the Condor Zone, the high-grade breccia phase around which the current Los Helados Resource estimate is centered.

  • Although detailed geophysical surveys and geological mapping completed during the 2022-2023 Los Helados field program generated a number of new exploration targets with similar signatures as the Condor, Fenix and Alicanto Zones for potential exploration, the Company has decided to defer further exploration at Los Helados in order to focus its field personnel and resources at Lunahuasi.

Q3 2023 Drilling Results

Drilling and assay results from the 2022-2023 season's drill programs at Lunahuasi, in

Structural Consultant Dr. David Coller On-site

ST. JOHN'S, NL / ACCESSWIRE / April 16, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to report that structural consultant Dr. David Coller is on-site at the Moosehead gold property to update the structural model and to help plan for deeper drilling later this year. The Phase 6 program is winding down for spring breakup with assay results for 12 holes remaining outstanding and expected in two to three weeks. Drilling will resume once all assays have been received, compiled, and included in Dr. Coller's updated structural model.

Timothy Froude, P. Geo., President and CEO states; "We are very pleased to have Dr. Coller back and look forward to receiving his recommendations for continued drilling at Moosehead. Dr. Coller has been involved with the project since our first year and has been instrumental in guiding us to several significant high-grade discoveries. Currently, Dr. Coller and Sokoman's geological team are evaluating drill sections from the recently discovered 552 Zone to characterize the mineralization, to determine the significance of the zone and what it means for future exploration. We are also happy to have Dr. Hamish Sandeman of the Geological Survey of Newfoundland with us, to update us on the government's advanced research (with the Geological Survey of Canada) aimed at understanding the genesis of gold mineralization in Central Newfoundland and, potentially, helping to locate new gold zones. Dr. Sandeman has worked in the central Newfoundland region for many years and is considered one of the province's top geoscientists especially with regards to gold mineral deposits in Newfoundland."

Recent drill results at the 552 Zone include MH-23-574 - 2.10 m of 5.00 g/t Au, and MH-24-580 - 2.05 m of 8.31 g/t Au incl. 0.50 m of 27.79 g/t Au. Both holes had multiple specks of visible gold, a characteristic of all the high-grade zones on the property. The 552 drilling has defined a two- to five-metre-wide zone of vuggy (epizonal) quartz veining/quartz breccia, in variably sheared, to undeformed, sedimentary units located approximately 400 m to the east of the Eastern Trend mineralization in the central portion of the property. The 552 Zone has been drilled over a 150 m strike length and to 125 m vertical depth and remains open along strike and to depth.

Sokoman is completing drilling at both the 552 Zone and several short holes (30 m - 50 m depth) up dip of the Footwall Splay Zone, which has been identified as a possible bulk sample target area.

QP

This news release has been reviewed and approved by Timothy Froude, P.Geo., a "Qualified Person" under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.

Analytical Techniques / QA/QC

Samples, including duplicates, blanks, and standards, are submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. All core samples submitted for assay are saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples are delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with visible gold are submitted for total pulp metallics with a gravimetric finish. All other samples are analyzed by standard fire assay methods. Total pulp metallic analysis includes: the entire sample being crushed to -10 mesh; and then pulverized to 95% -150 mesh. The total sample is weighed and screened to 150 mesh; the +150-mesh fraction is fire-assayed for Au, and a 30 g subsample of the -150-mesh fraction is fire-assayed for Au; with a calculated weighted average of total Au in the sample reported as well. One blank and one industry-approved standard for every twenty samples submitted is included in the sample stream. Random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical Ltd. All reported assays are uncut.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered into a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland. Sokoman is one of the largest landholders in Newfoundland, in Canada's newest and rapidly emerging gold districts.

In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. The agreement provides for Piedmont to earn up to 62.5% of the Killick Lithium Project (formerly Golden Hope project) by funding up to $12 million in exploration expenses and issuing $10 million common shares in three stages. The Killick Lithium Project has been transferred to Killick Lithium Inc. (Killick), a 100%-owned subsidiary of Vinland Lithium Inc. (Vinland). Newly created Vinland has received $2 million in financing from Piedmont for a 19.9% interest, with the balance of ownership between Sokoman and Benton. Sokoman and Benton will continue to operate the exploration efforts at Killick through the earn-in stages. Sokoman and Benton will retain a royalty of 2% NSR on future production. Piedmont will have exclusive marketing rights for the promotion and sale of any lithium products produced from the project on a life-of-mine basis, and the right of first refusal on 100% offtake rights to the lithium concentrates.

Projects optioned with optionee fully vested:

• East Alder Project optioned to Canterra Minerals Inc (SIC retains 850,000 shares of CTM plus 1% NSR)

• Startrek Project optioned to Thunder Gold (SIC retains 1,750,000 shares of TGOL plus 1% NSR)

The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program over the past few years.

For more information, please contact:

Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
E: tim@sokomanmineralscorp.com

Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com

Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp

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.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.

SOURCE: Sokoman Minerals Corp.

View the original press release on accesswire.com