American Pacific Mining Corp . (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce that it is a finalist in five categories for the 2022 Platts Global Metals Awards an annual program of S&P Global recognizing exemplary accomplishments across 17 categories.
Some 110 finalists have been selected from 22 countries for the tenth annual Platts Global Metals Awards. The awards program, operated and hosted by S&P Global Commodity Insights, recognizes and celebrates the best-of-the-best in the metals industry spanning both individual and company achievements.
American Pacific is nominated for:
Winners will be announced at an awards gala in London, UK on October 27, 2022.
American Pacific CEO, Warwick Smith, stated: "We are honored to be recognized in this way by S&P Global and to be nominated for five awards alongside such an established and prestigious group of companies. I am extremely proud of our entire team for this past year's accomplishments during a challenging market environment, with special recognition for the work of President Eric Saderholm. We also thank our shareholders and partners, alongside the Canadian Securities Exchange and OTC Markets, for their support as American Pacific continues to evolve into a highly regarded mining venture worthy to compete at these levels of the industry."
Smith continued, "The Platts Global Metals Awards nominations affirm the continued growth and success at the high-grade, past-producing Madison Copper-Gold Project in Montana in joint venture partnership with Rio Tinto's Kennecott Exploration. The nominations also shine a well-deserved spotlight on our two high-grade properties in Nevada, the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project. Together with our recently announced transaction to acquire the high-grade zinc-copper-gold-silver volcanic massive sulfide Palmer Project in Alaska, which is at the preliminary economic assessment stage, these projects speak to our vision for continued growth this year and beyond."
American Pacific was consistently the number one (#1) performing gold stock in the second half of 2021 based on market capitalization appreciation, as ranked by the Wall Street Journal's mining index (Rising Star Company Award). As well, the Company completed strategic project consolidation at Tuscarora, discovered new parallel vein splays at its past-producing Gooseberry project and continued to see high-grade gold and copper results at the Company's Madison Project.
As a finalist in five categories, American Pacific is among the most nominated companies for this year's Platts Global Metals Awards. Both CEO Warwick Smith and President Eric Saderholm welcome media requests for expert discussion and industry commentary in the mining space. Media inquiries and requests for analyst briefings may be directed to Primoris Group Inc. at media@primorisgroup.com or +1 (416) 489-0092.
"The inaugural Platts Global Metals Awards event was held May 23, 2013, and we're proud that across the years it has become the industry standard for such events," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're also looking forward to celebrating our 10th anniversary of the awards as a fully live experience after virtual and hybrid formats during the pandemic."
For event and program updates, visit https://www.spglobal.com/platts/global-metals-awards
About S&P Global Commodity Insights S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodityinsights .
The Company also announces that it has engaged King World News as its marketing provider for a term of 12 months commencing on May 1, 2022 and has agreed to pay King World News US$37,500 every three months for its services.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer with a core focus on opportunities in the Western United States. The Company's high-grade, past-producing Madison Copper-Gold project is located in Montana, which the Company acquired in 2020. Madison is under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group. American Pacific's portfolio also includes the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project, two high-grade past-producing precious metals projects located in tier one mining jurisdictions in Nevada, USA. The Company's recently announced acquisition of Constantine Metal Resources adds the attractive PEA stage zinc-copper-gold-silver volcanic massive sulphide (VMS) Palmer Project, located in a strategic area of Southeast Alaska (transaction close expected in October 2022).
American Pacific was recently selected as a ‘Deal of the Year' finalist for its Madison transaction and nominated for the ‘Rising Star Company Award' in the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 17 performance categories.
On Behalf of the Board of American Pacific Mining Corp.
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc., 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp (CSE: USGD FWB: 1QC OTCQX: USGDF) (" APM ") and Constantine Metal Resources Ltd . (" Constantine ") ( TSXV: CEMOTCQX:CNSNF ) announce that they have entered into a definitive agreement (the " Definitive Agreement ") pursuant to which APM will acquire all of the issued and outstanding common shares of Constantine (the " Transaction ") in an all-share transaction, providing Constantine shareholders with an immediate upfront premium of 48.6% based on each company's respective 20-day volume weighted average price ( "VWAP" ).
The combined company will be a premier exploration and development company in the western USA with two projects being aggressively advanced under strategic partnerships with well-respected major metal producers and an expanded portfolio of prospective precious and base metals assets.
Highlights of the Transaction and Strategic Rationale:
CEO of American Pacific Mining, Warwick Smith, stated: "This is a transformational step for American Pacific as the Palmer Project gives us an established PEA-stage asset with a tremendous amount of exploration upside. We are very impressed with the quality of technical work completed by Constantine and Dowa to-date and look forward to collaborating with our new partners and stakeholders to expand resources and realize the full potential of this high-grade VMS system while continuing to deliver exposure to progress and new discoveries across our existing portfolio of highly prospective past-producing exploration projects."
CEO of Constantine Metal Resources, Garfield MacVeigh, commented: "Constantine is pleased to enter into this agreement and our Board unanimously recommends the transaction to shareholders at a significant market premium. We believe American Pacific's focus, financing capabilities and breadth of exploration experience in the US will result in Palmer reaching its full potential. We would like to thank our shareholders, the team at Constantine, our Board and our joint venture partner at Palmer, Dowa, for all their support."
Constantine shareholders will be entitled to receive 0.881 (the " Exchange Ratio ") of a common share of APM for each share of Constantine held (the " Consideration "). All outstanding stock options of Constantine will be exchanged for options of APM and all warrants of Constantine will become exercisable to acquire common shares of APM, in amounts and at exercise prices adjusted in accordance with the Exchange Ratio. The Consideration values Constantine at approximately C$0.43 per share, representing a premium of approximately 48.6% to Constantine shareholders, based on the 20-day VWAP of each company as of the close of trading on August 12, 2022. Upon completion of the Transaction, Constantine shareholders will hold approximately 31.4% of APM shares on an outstanding basis.
The Definitive Agreement for the Transaction includes customary provisions, including non-solicitation, right to match, and fiduciary out provisions, as well as certain representations, covenants and conditions which are customary for a transaction of this nature. The Definitive Agreement provides for a C$850,000 termination fee payable by Constantine to APM in the event of a superior proposal, and a reduced break fee of $500,000 payable in the event of a no-vote by Constantine securityholders in certain circumstances. The Transaction is expected to be completed by way of a court-approved Plan of Arrangement under the Business Corporations Act (British Columbia) (the " Arrangement ") and will be subject to securityholder approval at a meeting of Constantine securityholders, which is expected to take place in October 2022, with the Transaction expected to close shortly thereafter. Under the Definitive Agreement, APM has also agreed to commit to fund C$5,000,000 for the Palmer Project in 2022 in accordance with the approved project program and budget.
Closing of the Transaction is subject to the receipt of applicable regulatory approvals, Constantine securityholder approval and the satisfaction of certain other closing conditions customary for transactions of this nature.
It is anticipated that any securities to be issued under the Arrangement will be offered and issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act of 1933 provided by Section 3(a)(10) thereof. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Board of Director's Recommendation and Voting Support
The Arrangement has been unanimously approved by the board of directors of both APM and Constantine. Directors and senior officers of Constantine along with certain Constantine shareholders, being Michael Gentile and John Tognetti, holding in the aggregate approximately 27% of the outstanding Constantine shares, have each entered into customary voting and support agreements to, among other things, vote in favour of the Arrangement at the special meeting of Constantine securityholders to be held to consider the Transaction.
McMillan LLP is acting as American Pacific's legal advisor. Agentis Capital Mining Partners is acting as financial advisor to Constantine and Blake, Cassels & Graydon LLP is acting as Constantine's legal advisor.
Agentis Capital Mining Partners has provided a fairness opinion to the Board of Directors of Constantine stating that, as of the date of the opinion, and based upon and subject to the assumptions, limitations and qualifications stated in the opinion, the consideration to be received by the shareholders of Constantine is fair, from a financial point of view, to the shareholders of Constantine.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. The Madison Mine in Montana, under option to joint venture with Kennecott Exploration Company, is the Company's flagship asset. The Gooseberry Gold-Silver Project and the Tuscarora Gold Project are two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
About Constantine Metal Resources Ltd.
Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on the Palmer copper-zinc-silver-gold-barite project (the " Palmer Project ") being advanced as a joint venture between Constantine and Dowa Metals & Mining Co., Ltd. ("Dowa"), with Constantine as operator. The Palmer Project is a high-grade volcanogenic massive sulphide-sulphate ("VMS") project located in a very accessible part of coastal Southeast Alaska, with road access to the project and within 60 kilometers of the year-round deep-sea port of Haines.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations, Meredith Eades: investor@americanpacific.ca Phone: 1-778-833-3962
On Behalf of the Board of Constantine Metal Resources Ltd.
"Garfield MacVeigh" President & CEO
Corporate Office: Suite 320 – 800 West Pender Street Vancouver, BC, V6C 2V6 Canada
For further information please contact: Garfield MacVeigh, President or Michael Vande Guchte, VP Exploration Phone: 604-629-2348. Email: info@constantinemetals.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that may be deemed to be "forward-looking information" within the meaning of Canadian securities legislation. All statements in this news release, other than statements of historical facts are forward looking statements, including statements that address our expectations with respect to any anticipated benefits of the Transaction, expectations and funding with respect to the Palmer Project, the closing of the Transaction, the Palmer Project funding, APM's ability to complete the proposed Transaction; Constantine and APM's ability to secure the necessary securityholder, legal and regulatory approvals required to complete the Transaction, the timing of the Transaction, the timing and success of future events or developments of APM or its properties, including with respect to the Palmer Project. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although APM believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, impacts (both direct and indirect) of COVID-19, timing of receipt of required permits, changes in applicable laws, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, as applicable, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the APM's filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in APM's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com .
1 See the Amended NI 43-101 Technical Report Palmer Project Alaska, USA ("PEA") prepared by JDS Energy & Mining Inc. dated March 7, 2022 with an effective date of June 3, 2019 under Constantine's profile on SEDAR at www.sedar.com . The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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American Pacific Mining Corp (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to provide an update on drilling and report new results from the CSAMT survey conducted at the Tuscarora Project located in Elko County, Nevada.
Approximately 21 drillholes (~4,000 metres) of reverse circulation (" RC ") drilling has been completed to-date and up to five additional holes will be completed in the coming weeks, including multiple holes to test newly defined vein targets generated from the recently completed CSAMT survey. Additional assay results will be released once received and interpreted.
The CSAMT survey was commissioned to identify sub-surface and hidden silica bodies and quartz vein occurrences throughout the previously untested, newly acquired land package. The survey has identified numerous untested vein occurrences, but two anomalies stand out as very strong quartz responses. Neither of these anomalies has been previously drill-tested in these areas.
Figure 1. 2022 Tuscarora CSAMT Survey Lines with Vein Interpretations and Targets
https://www.globenewswire.com/NewsRoom/AttachmentNg/68d8de34-6171-4497-a604-2e808fd26e3e
Figure 2. King's Vein Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/7ba27b3b-e685-44e5-b342-6809b4c55bc1
Figure 3. Grand Prize and East Pediment Targets
https://www.globenewswire.com/NewsRoom/AttachmentNg/f920da9e-cfbe-4439-a71e-30e41a23c5bd
"The King's Vein and the Grand Prize Vein Intersection with the East Pediment Vein system present us with very strong quartz responses. This is exciting from an exploration standpoint since these are the strongest indicators of untested veins within the entire land package. The Grand Prize/East Pediment is covered with a thin gravel veneer and is reminiscent of the South Navajo Vein response, although much stronger," stated American Pacific President Eric Saderholm. "Our drill plans are currently being adjusted to test these strong anomalies which do not have surface expressions. The Grand Prize Vein has yielded up to 21,032 grams per tonne (" g/t ") gold (" Au ") and 38,820 g/t Au from surface samples. The East Pediment Vein returned a 1.52 metre intercept of 52.37 g/t Au in historic drilling and no drilling has been done at East Pediment since 1998."
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under National Instrument 43-101.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., 604.908.1695 / kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc. 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to report high-grade copper and gold assays from both a Phase I rock chip sampling program and recently acquired historic sampling data at the South Lida Project in Esmeralda County, Nevada.
A total of 27 rock samples were collected during the Phase I program from the claim package staked by the Company earlier this year ( see April 5, 2022 news release ). American Pacific controls all lands included within this land package with no underlying royalties or agreements.
High-grade samples, including 11.21% copper (" Cu ") and 4.24% Cu were collected from the eastern portion of the claim package during the recent Phase I sampling program. High-grade samples, up to 10 grams per tonne (" g/t ") gold (" Au "), were collected from the same area by Sirius Exploration in 2008 and the results and assay certificates were recently obtained and verified by American Pacific. The results are shown in Table 1.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecdde4ce-51b3-40f3-908f-697581095157
https://www.globenewswire.com/NewsRoom/AttachmentNg/45bebb0d-9379-4f31-ae79-151592cbd1ac
"We acquired the archived historic South Lida area sampling data, completed by Sirius Exploration in 2008, and immediately acted by staking the ground containing the higher-grade samples," stated President, Eric Saderholm. "We just received initial Phase I assays which returned highly encouraging grades confirming strong anomalous gold and copper mineralization. Samples LDR22-007 and LDR22-008 are of particular interest to us because they contain 11.21% and 4.24% copper in the area where the sample of 10 g/t gold had previously been collected. A follow-up sampling program is in progress to further evaluate this strongly mineralized property."
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects .
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.ca
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts respon sibility for the adequacy or accuracy of this release.
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Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") has, subject to approval by the Canadian Securities Exchange (the "Exchange"), granted 250,000 incentive stock options ("Options") to acquire common shares in the capital of the Company (each a "Common Share"), to independent directors at an exercise price of $0.57. The Options are subject to vesting provisions. Any Common Shares issued pursuant to the Options, are subject to a hold period expiring December 20, 2022, unless written approval to issue the Common Shares without the hold period is obtained from the Exchange.
Kuya Silver is a Canadian‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
For further information, please contact the Company at:
Kuya Silver Corporation Telephone: (604) 398‐4493 info@kuyasilver.com www.kuyasilver.com
This news release contains statements that constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "focus," "potential," "progress," "develop," "investigate," "optimize," "opportunity," "future," "vision," "envisage," "option," "roadmap," "pursue," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in the market price of silver and other commodities, successes of the operations of the Company, continued availability of capital and financing, the Company's ability to obtain and renew required permits, licenses, consents, authorizations, and approvals, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134383
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GCM Mining Corp. (GCM Mining) (TSX: GCM; OTCQX: TPRFF) and Aris Gold Corporation (Aris Gold) (TSX: ARIS; OTCQX: ALLXF) announce they have filed the joint management information circular and related meeting materials in connection with their respective special meetings of shareholders to be held on September 19, 2022. The purpose of the meetings is to approve the proposed business combination of GCM Mining and Aris Gold announced on July 25, 2022. The combined entity will continue under the name Aris Mining Corporation and will be a gold producer with increased scale, increased diversification of operating and project development risk, have an improved capital markets profile, and reduced overhead costs.
Pursuant to the transaction, Aris Gold shareholders will receive 0.5 of one GCM Mining share for each Aris Gold share held. At closing, based on the respective share values at the date of announcement of the transaction, GCM Mining and Aris Gold shareholders (excluding the 44% of Aris Gold shares held by GCM Mining) will own approximately 74% and 26% of the combined entity, respectively, on a diluted in-the-money basis.
The Board of Directors of GCM Mining and the Board of Directors of Aris Gold have unanimously approved the transaction and recommend that shareholders vote in favour of the transaction at their respective meetings.
On August 16, 2022, Aris Gold obtained an interim order from the Supreme Court of British Columbia authorizing the holding of the Aris Gold special meeting of its shareholders and matters relating to the conduct of the Aris Gold Meeting. Mailing of the joint management information circular and related meeting materials will begin soon and shareholders of both GCM Mining and Aris Gold should receive them shortly. All of the meeting materials are available on GCM Mining's website at www.gcm-mining.com and on Aris Gold's website at www.arisgold.com , as well as on each company's profile on SEDAR at www.sedar.com . GCM Mining and Aris Gold shareholders should carefully review all of the meeting materials as they contain important information concerning the transaction and the rights and entitlements of the shareholders thereunder.
Completion of the transaction is subject to customary conditions, including GCM Mining shareholder approval, Aris Gold shareholder approval, final approval from the Toronto Stock Exchange, and other regulatory approvals. The transaction is expected to close before the end of September 2022.
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada – Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found at www.gcm-mining.com and www.sedar.com .
Aris Gold is a Canadian mining company listed on the TSX under the symbol ARIS and on the OTCQX under the symbol ALLXF. The Company is led by an executive team with a demonstrated track record of creating value through building globally relevant gold mining companies. In Colombia, Aris Gold operates the 100%-owned Marmato mine, where a modernization and expansion program is under way, and as of April 12, 2022, operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new gold mine. Aris Gold also owns the Juby project, an advanced exploration stage gold project in the Abitibi greenstone belt of Ontario, Canada. Aris Gold plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Additional information on Aris Gold can be found at www.arisgold.com and www.sedar.com .
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact, including without limitation statements relating to: approval by the GCM Mining and Aris Gold shareholders; the satisfaction of the conditions precedent to the transaction, and timing, receipt and anticipated effects of court, regulatory and other consents and approvals. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered. The material factors or assumptions used to develop forward-looking information or statements are disclosed throughout this news release.
Forward-looking information and forward-looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GCM Mining, Aris Gold and the resulting entity to be materially different from those expressed or implied by such forward-looking information or forward-looking statement
Although GCM Mining and Aris Gold have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and each of GCM Mining and Aris Gold disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
Source: GCM Mining Corp. and Aris Gold Corporation
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Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) regrets to announce that the Company's founder, Director and Executive Chairman, Bradford Cooke passed away suddenly and unexpectedly in Vancouver, BC at the age of 67. Endeavour wishes to extend our sincere condolences to his family, friends, business associates and his extensive network amongst the investment community.
Brad Cooke is well known as an accomplished geologist with nearly five decades of experience in the metals and mining industry. Brad has been a vibrant member of the mining community and will be dearly missed. As a professional geologist and entrepreneur, he has created shareholder value for stakeholders around the world through discovery, development and operations in his long-standing successful career. He has earned a reputation as an eternal optimist trying to shape the world for the greater good with constructive hard work.
Throughout all his success in business, he never forgot the difficulties of the less fortunate. He collaborated on numerous humanitarian projects over many years to make a positive difference. He instilled corporate social responsibility at Endeavour from the start in the communities near our mines. He also served as President of the Silver Institute, as an industry voice in creating public awareness of the silver industry.
Brad Cooke formed Endeavour together with Godfrey Walton in 2003 for the purpose of acquiring and developing high grade silver-gold projects in Mexico. Since that time, the Company has acquired, rebuilt and expanded four silver mines and made a significant discovery with potential to become Endeavour's next cornerstone mine.
Dan Dickson, CEO of Endeavour stated, "We are incredibly saddened by this sudden loss. Brad was extremely loyal to his people. He will be sincerely missed and always remembered by a large group of family and friends around the world. I have known and worked with Brad for 15 years and I consider him my dear friend. I will always remember him for his passion, commitment and hard-working attitude. With his vibrant energy, he strove to bring out the best in those who worked with him."
About Endeavour – Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal of becoming a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp. Contact Information Galina Meleger, VP, Investor Relations Email: gmeleger@edrsilver.com Website: www.edrsilver.com
Follow Endeavour Silver on Facebook , Twitter , Instagram and LinkedIn .
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Vancouver, British Columbia TheNewswire - August 1 8 2022 Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) is pleased to announce the results of the Company's annual general meeting held in Vancouver, B.C. on August 16, 2022 (the " AGM ").
The shareholders approved, by a minimum 98.7% requisite majority, all motions put forth at the AGM, including the re-election of the four directors, appointment of Smythe LLP as auditors of the Company and the approval of the Amended and Restated Stock Option Plan. A total of 25,464,424 common shares of the Company's issued and outstanding shares were represented in person or by proxy at the AGM.
Mr. David Vincent did not stand for re-election at the AGM. " On behalf of the Board of Directors and management, we wish to express our gratitude to David for his invaluable contribution and service he provided to the Company as a Board member and a member of the Audit Committee." stated Mike Stark, President and CEO of the Company . "We wish him the best with his future endeavors. David will remain with the Company as a consultant."
Following the AGM, the Board of Directors re-appointed Mike Stark as Chairman, President and CEO, Gregory Hahn as Vice-President, Exploration and Dong H. Shim as CFO and Corporate Secretary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) have approved this release.
On behalf of the Board of Directors:
Mike Stark, CEO, President Phone: (604) 833-4278
Copyright (c) 2022 TheNewswire - All rights reserved.
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce results for 3 holes of a nine (9) hole diamond drill program (See News Release February 7, 2022) on the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.
Drilling primarily focused on the Thomas Ogden Zone (TOG) with two peripheral targets also tested. Drilling at TOG targeted potential flat lying quartz bearing structures and zones of albitization and silicification with associated mineralization within the lowermost portion of the currently defined TOG fold structure. High grade gold mineralization has a strong preferential association with the TOG fold axis which has a shallow plunge to the east.
Highlights of the drilling include:
TOG-22-71 returned a downhole intercept (324.63 - 336.77m) of 1.13 grammes per ton (g/t) gold (Au) over 12.14 meters (m), visible gold was noted in this intercept. A second zone of mineralization (284.95 - 286.00m) was intercepted returning 12.3 g/t Au over 1.05m.
This hole was drilled to further define gold mineralization associated with the TOG fold structure (See attached Schematic Cross Section 1200W Fig. 1). This zone contains moderate to strong albitization, strong silicification and local fuchsite within an altered felsite unit. Fine-grained disseminated cubic pyrite is the dominant sulfide throughout as well as locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5%, with trace arsenopyrite and several fine specks of visible gold.
TOG-22-72 returned a downhole intercept (354.34 - 356.35m) of 4.71 g/t Au over 2.01m. A second zone of mineralization was cut (373.00 - 376.40m) returning 1.67 g/t Au over 3.4m. This hole (See attached Schematic Cross Section 1175W Fig. 2) was drilled 25m east of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022) to facilitate a better understanding of potential shallow dipping gold mineralization associated with secondary structures. Alteration consists of moderate to strong albitization and silicification within an altered conglomerate unit with local fuchsite. Fine-grained disseminated cubic pyrite occurs throughout and locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5% along with trace arsenopyrite.
TOG-22-73 returned a downhole intercept (346.25 - 351.86m) of 4.24 g/t Au over 5.61 m. This hole (See attached Schematic Cross Section 1225W Fig. 3) was drilled 25m west of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022). Like that of hole TOG-22-72, this hole was drilled to further define shallow dipping gold mineralization associated with secondary structures. A strongly altered felsite of intense albitization and silicification with associated wispy fuchsite alteration was intersected with fine-grained disseminated cubic pyrite throughout. Pyrite ranges from 1-5%with trace arsenopyrite and local fine specks of visible gold.
Drill intercepts are core lengths and true width will be approximately 70 to 80% of drill intercept length. Further results will be released once received and compiled.
Remaining holes will be released once they are received and compiled.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
Drill hole locations are provided in the map below (Fig. 4).
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_002full.jpg
Michael MacIsaac, P. Geo and VP Exploration for the Company and a Qualified Person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
About Metals Creek Resources Corp. -
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at 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 release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_003full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_004full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_005full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134221
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Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce that its 2,000-meter drill program at its Palos Verdes project located in Sinaloa, Mexico has commenced. The Palos Verdes property is contiguous to the Panuco silver-gold project of Vizsla Silver Corp. The drilling campaign is expected to last approximately two months.
The drill program is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package. A minimum 2,000 meter program has been contracted with MW Drilling. Previous shallow drilling has intersected high grade mineralization with the best intercept of 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020).
Regarding the drill program, Dr. Craig Gibson, President and CEO of the Company, said: "We are pleased to be able to conduct our program to drill holes to intersect the Palos Verdes vein at significantly deeper levels than in the previous drilling campaigns. We will be able to test the vein several hundred meters underneath the surface exposures with the first hole being underway."
Prismo also announces that it intends to complete a non-brokered private placement, issuing 750,000 common shares at a price of $0.20 per share for gross proceeds of $150,000 in the coming days. The private placement will be carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the Canadian Securities Exchange. There will be no finder fee paid in this private placement
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.
Contact: Craig Gibson, Chief Executive Officer and Director 1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6 craig.gibson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com
Please follow @PrismoMetals on Twitter, Facebook, LinkedIn and Instagram
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134200
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