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2021-05-15 - MINING.COM

Mali union calls five-day general strike next week over pay claim

The five-day strike could impact the West African country's gold mining sector.

2021-05-15 - Yahoo! Finance: BTT.V News

How Many Bitterroot Resources Ltd. (CVE:BTT) Shares Did Insiders Buy, In The Last Year?

It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...

2021-05-15 - Yahoo! Finance: AUL.V News

Aurelius Announces Closing of Final Tranche of Non-Brokered Equity Financing for Total Gross Proceeds of $6,041,000 on the Offering

Toronto, Ontario--(Newsfile Corp. - May 14, 2021) - Aurelius Minerals Inc. (TSXV: AUL) (the Company or Aurelius) announces that it has closed the final tranche of its previously announced non-brokered private placement offering (the Offering) for additional gross proceeds of $510,000 including (i) 400,000 common shares of the Company (Common Shares) on a post consolidation basis for gross proceeds of $240,000, and (ii) 400,000 common shares which qualify as flow-through shares (as defined in ...

2021-05-15 - Yahoo! Finance: LITH.V News

Lithium Chile Inc., Building a Large Lithium Producer in Chile, CEO Clip Video

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Lithium Chile Inc. (TSXV: LITH) - President and CEO Steve Cochrane speaks about the company's large, diversified lithium portfolio.If you cannot view the video above, please visit:https://b-tv.com/lithium-chile-ceo-clip-90sec/Lithium Chile is being featured on BNN Bloomberg May 15th - May 16th, 2021.Lithium Chile Inc. (TSXV: LITH)lithiumchile.ca About CEO Clips:CEO Clips is the largest library of publicly traded company CEO videos in Canada and ...

2021-05-14 - Yahoo! Finance: BNCH.V News

CopAur Minerals Inc. Announces Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - CopAur Minerals Inc. (TSXV: CPAU) (the Company) is pleased to announce that the company has arranged a non-brokered private placement offering of 6,000,000 units (Unit) at a price of $0.75 per Unit to raise gross proceeds of $4,500,000.The Unit will consist of 6,000,000 Units of the Company at a price of $0.75 and one-half of one common share purchase warrant (Warrant). Each Warrant ...

2021-05-14 - Yahoo! Finance: AII.TO News

Almonty Announces the Filing of Its Audited Annual Consolidated Financial Statements, MD&A and AIF for the Year Ended December 31, 2020

Almonty Industries Inc. (Almonty or the Company) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the filing of its audited annual consolidated financial statements, management’s discussion & analysis (MD&A) and Annual Information Form (AIF) for the year ended December 31, 2020. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars.

2021-05-14 - fiore exploration

The Essential Laws of Explained

What To Seek In Dental Clinic Solutions There are a variety of oral facilities which give excellent dental services for any age teams. It is imperative to figure out a clinic which will certainly provide for your dental health and wellness needs, whether it is for you as a patient or for you the customer. […]

2021-05-14 - Latest updates

Global Energy Metals Closes Tranche Two of Oversubscribed Financing; Raises $1.1 Million in Total

2021-05-14 - Yahoo! Finance: LKY.V News

Lucky Minerals Announces Resignations of Board Members

VANCOUVER, BC / ACCESSWIRE / May 14, 2021 /Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) (Lucky or the Company) announces it has accepted the resignations of Adrian Rothwell and Paul Pint as Directors of the Company, effective May 31, 2021, due to personal obligations and time constraints.

2021-05-14 - MINING.COM

Canada’s mining sector top target market for FDI deals from Asia Pacific region

Sector attracted foreign direct investment deals valued at C$1.13 billion in 2020 – accounting for 14% of all FDI inflow into Canada from the Asia Pacific region.

2021-05-14 - Yahoo! Finance: MTA.V News

Metalla Announces At-the-Market Equity Program Update

Metalla Royalty & Streaming Ltd. (Metalla or the Company) (TSXV: MTA) (NYSE American: MTA) is pleased to announce that it has entered into a new equity distribution agreement (the Distribution Agreement) with a syndicate of agents (collectively, the Agents) including BMO Nesbitt Burns Inc. (the Lead Canadian Agent), PI Financial Corp, and Scotiabank, as the Canadian agents, and BMO Capital Markets Corp.‎ (the Lead U.S. Agent) and Scotiabank, as the United States agents, for a new at-the-market equity program (the New ATM Program).

2021-05-14 - The Northern Miner

World’s top 10 biggest copper mines

Copper, the highly conductive red metal vital to the manufacturing of products essential to the electrification of the world’s energy systems is also used in...

The post World’s top 10 biggest copper mines appeared first on The Northern Miner.

2021-05-14 - Yahoo! Finance: IMA.V News

I-Minerals Inc. Negotiates Repayment of Outstanding Indebtedness

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) announces that the repayment date for loans from a company controlled by its Chairman Allen Ball amounting to approximately $33,792,324 together with all accrued and unpaid interest thereon, has been extended until June 15, 2021. About I-Minerals Inc. I-Minerals is an exploration and development company that is advancing the Bovill kaolin-halloysite property in north central Idaho. A ...

2021-05-14 - Yahoo! Finance: GTT.V News

GT Gold Announcement

VANCOUVER, British Columbia, May 14, 2021 (GLOBE NEWSWIRE) -- GT Gold Corp. (TSX-V:GTT; OTCQX:GTGDF) (the “Company” or “GT Gold”) today announced that its Board of Directors has concluded that there was no basis for allegations made during a proxy contest, accusing Mr. Ashwath Mehra, the Executive Chairman of the Company, of using the Company’s funds for personal expenses. The Board, through a committee comprising independent directors, has undertaken a thorough review of the allegations made by a Company shareholder during the proxy contest. As part of the investigation, a leading international firm of specialist forensic accountants was engaged to examine and report on the allegations and was provided with full access to Company records and management, including to Mr. Mehra himself. The aforesaid report concluded that Mr. Mehra’s expenses were for a business purpose; that they followed the principles of GT Gold policies; and that they were submitted and effectively authorized in compliance with the relevant GT Gold policies. The Board, having fully considered the report prepared by the independent forensic accounting firm, agrees with the findings that the allegations were baseless and considers the matter closed. About GT Gold Corp. GT Gold is engaged in advancing its wholly-owned, 47,500 hectare Tatogga property, located in the renowned Golden Triangle near Iskut, British Columbia. To date, GT Gold has made two significant discoveries on the Tatogga property, Saddle South, a precious metal rich vein system and Saddle North, a gold-rich copper porphyry system. For more information please contact GT Gold Corp.James RutherfordLead Independent Director+1 236-427-4711j.rutherford@gtgoldcorp.caWebsite: www.gtgoldcorp.caGT Gold Corp.Investor RelationsGeneral contactinfo@gtgoldcorp.ca

2021-05-14 - Yahoo! Finance: VRR.V News

VR Resources Closes Non-Brokered Private Placement for Gross Proceeds of $1 Million

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. VANCOUVER, British Columbia, May 14, 2021 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR; FSE: 5VR; OTCQB: VRRCF) (the “Company” or “VR”) is pleased to announce that it has closed its previously announced non-brokered private placement (“Financing”) consisting of 1,428,571 units (“Units”) at a price of $0.35 per Unit and 1,190,476 Flow-Through Shares (FT Shares) at a price of $0.42 per FT Share for total gross proceeds of $1 million. Each Unit consists of one common share of the Company and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of $0.55 per common share for a period of 18 months from the closing date of the Financing. In connection with the Financing, the Company paid cash fees of $30,000 and issued 71,429 compensation warrants exercisable at $0.55 per share for a period of 18 months from closing. The securities that were issued under the Financing are subject to a four month hold period under Canadian securities law. VR will use the net proceeds of the Financing for its mineral exploration business, including active exploration on various mineral properties held in Ontario, Canada, and Nevada, USA. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the “United States” or to “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and all applicable state securities laws or compliance with an exemption from such registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. ON BEHALF OF THE BOARD OF DIRECTORS: “Michael H. Gunning”_____________________________Dr. Michael H. Gunning, PhD, PGeoPresident & CEO For general information please use the following:Website:www.vrr.caEmail:info@vrr.caContact:Michael Gunning, CEO, @ mgunning@vrr.ca; Work: 604-262-1104 About VR Resources VR is an established junior exploration company focused on greenfields opportunities in copper and precious metals (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A is the foundation of VR. The Company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. Forward Looking Statements This press release contains forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Forward looking statements in this release, for example include but are not limited to the Company plans to carry out exploration on its various mineral properties held in Ontario, Canada, and Nevada, USA. Although the Company believes that the use of such statements is reasonable, 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. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

2021-05-14 - The Northern Miner

A realistic path for improved carbon performance in mining

The demand for improved environmental and social governance (ESG) continues to intensify.  Of the many issues that ESG covers, it is carbon emissions that are...

The post A realistic path for improved carbon performance in mining appeared first on The Northern Miner.

2021-05-14 - Yahoo! Finance: GRAT.V News

Gratomic Announces Response to Covid-19 Exposure at Aukam

TORONTO, ON / ACCESSWIRE / May 14, 2021 / Gratomic Inc. (Gratomic, GRAT or the Company) (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB82) wishes to advise that an employee at its Aukam site, working in the sanitary department, tested positive for Covid-19.

2021-05-14 - Yahoo! Finance: LAC.TO News

Lithium Americas CEO on his outlook for U.S. lithium production

Jon Evans, CEO of Lithium Americas, joined Yahoo Finance Live to discuss what's next for U.S. lithium production.

2021-05-14 - Yahoo! Finance: TLO.TO News

Talon Metals Reports Results for the Quarter Ended March 31, 2021

Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - May 14, 2021) - Talon Metals Corp. (TSX: TLO) (Talon or the Company) reported a net loss for the three months ended March 31, 2021 of $0.8 million or $nil per share (basic and diluted), which was primarily the result of administration expenses and stock option compensation, offset by a gain on the fair value revaluation of a put option on a royalty. This compares ...

2021-05-14 - Yahoo! Finance: ETG.TO News

Entrée Resources Announces First Quarter 2021 Results

Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) – the Company or Entrée) has today filed its interim financial results for the first quarter ended March 31, 2021. All numbers are in U.S. dollars unless otherwise noted.

2021-05-14 - Yahoo! Finance: MHI.V News

Mineral Hill Announces Completion of Shares-for-Debt Settlement

Mineral Hill Industries Ltd. (the Company or Mineral Hill) a precious metals exploration company wishes to announce that it has received the approval of the TSX Venture Exchange (TSXV) for the on April 30, 2021 announced Shares for Debt transaction, to settle the aggregate of $286,711 in loans to insiders of the Company, through the issuance of 1,274,271 common shares of the Company (Share) at a deemed price of $0.225 per Share (Debt Settlement).

2021-05-14 - Yahoo! Finance: MTA.V News

Metalla Reports Financial Results for Three Months Ended March 31, 2021 and Provides Asset Updates

Metalla Royalty & Streaming Ltd. (Metalla or the Company) (TSXV: MTA) (NYSE American: MTA) announces its operating and financial results for the three months ended March 31, 2021. For complete details of the condensed interim consolidated financial statements and accompanying management's discussion and analysis for the three months ended March 31, 2021, please see the Company's filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at http://www.metallaroyalty.com/.

2021-05-14 - Yahoo! Finance: BNCH.V News

Benchmark Delivers 2.1 Million Ounces of 1.62 g/t AuEq Indicated and 821,000 Ounces of 1.57 g/t AuEq Inferred for Its Initial Mineral Resource Estimate

Edmonton, Alberta--(Newsfile Corp. - May 14, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the Company or Benchmark) is pleased to announce the initial bulk-tonnage Mineral Resource Estimate (MRE) for its Lawyers Gold-Silver Project in a road accessible area of north-central British Columbia, Canada. A total of 696 drill holes totaling 123,101.2 metres collectively from the Cliff Creek, AGB, Dukes Ridge and Phoenix Zones were used in the MRE completed by P&E ...

2021-05-14 - Yahoo! Finance: MJS.V News

Mining Operations to Resume at Songjiagou North Underground Mine

VANCOUVER, BC / ACCESSWIRE / May 14, 2021 / Majestic Gold Corp. (Majestic or the Company) (TSXV:MJS)(FSE:MJT) is pleased to announce that its operating subsidiary, Yantai Zhongjia Mining Co.

2021-05-14 - Yahoo! Finance: IMR.V News

iMetal Resources Interview to Air on Bloomberg Television U.S. on the RedChip Money Report

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - iMetal Resources, Inc. (TSXV: IMR) (OTC Pink: ADTFF) (FSE: A7V2) (iMetal or the Company) is pleased to announce an interview with President & CEO Saf Dhillon will air on The RedChip Money Report on the Bloomberg Network in the U.S. on Saturday, May 15 at 7 p.m. local time across the United States. The RedChip Money Report airs on Bloomberg Television U.S. on Saturdays ...

2021-05-14 - Yahoo! Finance: WPM.TO News

Wheaton Precious Metals Announces Election of Directors and Approval of Special Matters

Wheaton Precious Metals™ Corp. (Wheaton or the Company) announces that the nominees listed below were elected as directors of Wheaton at the 2021 Annual and Special Meeting of Shareholders. Detailed results of the vote for directors of the Company held at the Annual and Special Meeting of Shareholders earlier today are shown below:

2021-05-14 - MINING.COM

New bull chart for $30,000 copper price: porphyries nearly mined out

Porphyries produce 80% of all copper but “the industry's ability to increase its reserve base by lowering cut-off grades is nearing an end” says new study.

2021-05-14 - MINING.COM

Analysts voice scepticism on mining supercycle narrative

Surging commodity prices are leading some to believe that the market is entering a new commodity supercycle.

2021-05-14 - MINING.COM

Harte Gold cuts guidance, shares tumble

The miner said will require additional funding within the next few months.

2021-05-14 - MINING.COM

More than a year into the pandemic, no new MSHA safety standards regulated

Regulators have not included in covid -19 guidance any emergency temporary standard, says safety litigator Willa Perlmutter.

2021-05-14 - Yahoo! Finance: C.V News

Contact Gold Reports Q1 2021 Financial and Operating Results and Reminds Securityholders of Special Meeting on May 25, 2021

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the Company or Contact Gold) is pleased to announce its financial and operating results for the three months ended March 31, 2021. The Company would also like to remind all Contact Gold securityholders to vote and take action with their common shares and warrants in advance of an Annual and Special Meeting to be held May 25, ...

2021-05-14 - The Northern Miner

Marathon raises $50m for Valentine project

Marathon Gold (TSX: MOZ) is raising $50 million (US$41.27 million) in a private placement to support  exploration and development activities at its Valentine gold project...

The post Marathon raises $50m for Valentine project appeared first on The Northern Miner.

2021-05-14 - Yahoo! Finance: SRA.V News

Stria Lithium Inc. Provides Further Disclosure Ahead of Shareholder Meeting

OTTAWA, ON / ACCESSWIRE /May 14, 2021 / Stria Lithium Inc. (Stria or the Company) (TSX-V:SRA), is pleased to provide additional information to its shareholders in advance of the annual and special shareholder meeting scheduled for May 21, 2021 (the Meeting).

2021-05-14 - MINING.COM

Nomad acquires Caserones copper royalty from Appian

Consideration includes $23 million cash and two million common share purchase warrants.

2021-05-14 - Yahoo! Finance: AVL.TO News

Avalon Completes Non-Brokered Private Placement for Gross Proceeds of $500,000

Toronto, Ontario--(Newsfile Corp. - May 14, 2021) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (Avalon or the Company) is pleased to announce that it has completed a non-brokered private placement today consisting of 2,500,000 flow-through shares at a price of $0.20 per share for gross proceeds of $500,000.In conjunction with this private placement, Avalon paid finder's fees of $30,000 and issued 150,000 non-transferrable finder's warrants, with each finder's warrant being exercisable to ...

2021-05-14 - MINING.COM

Spotlight: ESG and sustainable mining

New Edumine course led by Sarah Gordon takes ESG from concept to concrete.

2021-05-14 - MINING.COM

Victoria Gold more than doubles Q1 production from Eagle mine

Production guidance of 180,000-200,000 ounces remains unchanged for the year.

2021-05-14 - MINING.COM

Marathon Gold raises $41m for Valentine project, shares up

Marathon has also concluded a MOU with the Miawpukek First Nation relating to the Environmental Assessment and development of the gold project.

2021-05-14 - Yahoo! Finance: GBML.V News

Global Battery Metals Receives Government Permit to Commence Drilling

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the Company or GBML) is pleased to announce that the Company has received approval from the Government of Ireland's Department of the Environment, Climate and Communications - this final approval was required in order to commence drilling at the Company's Aghavannagh prospect. The Company expects to mobilize a drill crew to its North West Leinster Lithium property within ...

2021-05-14 - MINING.COM

Largest ever Russian diamond fetches $14.1m at Christie’s

The Spectacle, which was cut from a rough stone discovered by Alrosa in 2016, took a year and eight months to prepare and polish in Moscow.

2021-05-14 - MINING.COM

Iron ore price sinks as China vows to punish market manipulation

Officials in Tangshan warned its steel mills to maintain market order and safeguard companies' normal operations.

2021-05-14 - Yahoo! Finance: NTR.TO News

Nutrien’s CEO Mayo Schmidt to Speak at the BMO 16th Annual Farm to Market Conference

Nutrien Ltd (TSX and NYSE: NTR) announced today that Mr. Mayo Schmidt, Nutrien’s President and CEO, will be speaking at the BMO 16th Annual Farm to Market Conference on Thursday, May 20 at 10:00 a.m. EDT.

2021-05-14 - Yahoo! Finance: MMX.TO News

Maverix Announces Results of Annual General Meeting

Maverix Metals Inc. (Maverix or the Company) (NYSE American: MMX) (TSX: MMX) is pleased to announce the voting results of its Annual General Meeting (the Meeting) of Shareholders held on May 13th, 2021. Maverix shareholders voted in favour of all resolutions presented at the Meeting, including the election of the Company's nine director nominees. Detailed results of the vote for directors are shown below:

2021-05-14 - The Northern Miner

Chinese EV makers may be looking at western markets, CRU report says

China, the country leading global sales of new energy vehicles (NEVs), not only will maintain its market position accounting for half of all expected global...

The post Chinese EV makers may be looking at western markets, CRU report says appeared first on The Northern Miner.

2021-05-14 - Yahoo! Finance: FNV.TO News

Franco-Nevada (FNV) Gains From Acquisitions & Cost Cuts

Franco-Nevada (FNV) is well poised to benefit from a solid portfolio, debt-free balance sheet, cost-cutting efforts and buyouts.

2021-05-14 - Yahoo! Finance: COG.TO News

Condor Gold Plc Announces Its Unaudited Results for the Three Months Ended 31 March 2021

SURREY, UK / ACCESSWIRE / May 14, 2021 / Condor Gold (AIM:CNR); (TSX:COG) announces that it has today published its unaudited financial results for the three months ending 31 March 2021 and the Management's Discussion and Analysis for the same period.Both of the above have been posted on the Company's website www.

2021-05-14 - Yahoo! Finance: OR.TO News

Early Warning Release

MONTRÉAL, May 14, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (TSX & NYSE:OR) (“Osisko”) announces that it has subscribed for and received from Carbon Streaming Corporation (“Carbon Streaming”) 750,000 common shares (each a “Share”) of Carbon Streaming for a price of $1.00 per Share by way of a non-brokered private placement, for an aggregate subscription price of $750,000 (the “Private Placement”). Immediately after giving effect to the Private Placement, Osisko had beneficial ownership of, or control and direction over securities of Carbon Streaming representing approximately 13.3% of the issued and outstanding Shares on a partially diluted basis. Osisko has filed an early warning report in connection with the Private Placement on SEDAR under Carbon Streaming’s profile. Osisko acquired the securities described in this press release for investment purposes and in accordance with applicable securities laws, Osisko may, from time to time and at any time, acquire additional Shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Carbon Streaming and reserves the right to dispose of any or all of its Securities at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Carbon Streaming and other relevant factors. This news release is issued under the early warning provisions of the Canadian securities legislation. About Osisko Gold Royalties Ltd Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact Osisko Gold Royalties Ltd: Heather TaylorVice President, Investor RelationsTel: (514) 940-0670 #105Email: htaylor@osiskogr.com

2021-05-14 - Latest updates

Hannan Receives Local Approval and Initiates Environmental Baseline and Permitting Programs at Tabalosos, Peru

2021-05-14 - Yahoo! Finance: SOLG.TO News

SolGold PLC Announces Quarterly MD&A Filed in Canada

BISHOPGATE, LONDON / ACCESSWIRE / May 14, 2021 / The Board of Directors of SolGold (LSE & TSX code: SOLG) is pleased to advise all shareholders and interested investors that the Company's website contains access to a copy of the Quarterly Financial and Management Discussion and Analysis (MD&A) required to be filed on SEDAR in Canada, in connection with the Company's quarterly financial period ended 31 March 2021. This additional information is available in the Financial Reports section of the Investor Centre on the Company's website: www.

2021-05-14 - Yahoo! Finance: TKU.V News

Tarku Provides Highlights of its Q & A Conference Call with President & CEO Julien Davy

MONTREAL, QC / ACCESSWIRE / May 14, 2021 / Tarku Resources Ltd (TSX-V:TKU) (FRA:7TK) (the Company or Tarku) provides investor update and highlights on its recent Q & A regarding the companies Silver Strike Project in Arizona.During this call, the President & CEO Julien Davy commented on the company's objectives and gave insight into the recent exploration results.

2021-05-14 - MINING.COM

Ethiopia revokes 27 inactive mining licenses in cautionary move

The country's government also sent warnings to three companies as it looks to kick-start development of its vast mineral resources.

2021-05-14 - Yahoo! Finance: NEXA.TO News

Top Ranked Income Stocks to Buy for May 14th

Top Ranked Income Stocks to Buy for May 14th

2021-05-14 - The Northern Miner

Iamgold to restart Westwood in second half of 2021

Iamgold (TSX: IMG, NYSE: IAG) has confirmed it will resume operations at its Westwood underground mine in southwestern Québec in the second half of the year....

The post Iamgold to restart Westwood in second half of 2021 appeared first on The Northern Miner.

2021-05-14 - The Northern Miner

JV Article: Osino Resources’ Twin Hills on track to be Namibia’s next multi-million-ounce gold mine

Osino Resources (TSXV: OSI; US-OTC: OSIIF) plans to make its Twin Hills gold project in the Karibib gold district of central Namibia, 150 km northwest of the...

The post JV Article: Osino Resources’ Twin Hills on track to be Namibia’s next multi-million-ounce gold mine appeared first on The Northern Miner.

2021-05-14 - MINING.COM

Ericsson to provide connectivity solution for sustainable mining project

The Swedish telecom company will back the EU-funded Next-Generation Carbon-Neutral Pilots for Smart Intelligent Mining Systems project.

2021-05-14 - MINING.COM

MINING PEOPLE: Acme Lithium, Canadian Manganese, Cementation, Fremont Gold, Quaterra, SRHI

Key moves in the mining sector.

2021-05-14 - Yahoo! Finance: BEX.V News

Benton Announces $2.25 Million Private Placement, with Participation by Mr. Eric Sprott

Thunder Bay, Ontario--(Newsfile Corp. - May 14, 2021) - Benton Resources Inc. (TSXV: BEX) (Benton or the Company), is pleased to announce a non-brokered private placement offering (the Private Placement) for aggregate gross proceeds of up to $2,250,000 in flow-through units of the Company (the FT Units) at a price of $0.20 per FT Unit. Mr. Eric Sprott has indicated his intention to subscribe for $2,000,000 into the Private Placement. Each FT Unit shall ...

2021-05-14 - Yahoo! Finance: FNC.V News

Fancamp Files Civil Claim Against Mr. Peter H. Smith

Fancamp Exploration Ltd. (Fancamp or the Corporation) (TSX Venture Exchange: FNC) today announced that it has filed a civil claim in British Columbia Supreme Court (the Claim) against Mr. Peter H. Smith, a director of Fancamp and its former President and CEO. Fancamp commenced the Claim to remedy Mr. Smith’s wrongdoing, including his:

2021-05-14 - Yahoo! Finance: FWZ.V News

Fireweed Intersects 11.00% Zinc, 8.74% Lead and 19.6 g/t Silver over 8.2 m at Tom West

MACMILLAN PASS TARGETS Map 1 – Macmillan Pass Project: Locations of the 2020 exploration targets, advanced prospects, and known deposits. TOM 2020 RC DRILLING Map 2 – Tom 2020 RC drilling: Locations of the 2020 RC drill holes at Tom. Diamond drill holes are also shown, and those referred to in the text are labelled. JASON 2020 RC DRILLING Map 3 – Jason 2020 RC drilling: Locations of the 2020 RC drill holes at Jason. Diamond drill hole locations are also shown. VANCOUVER, British Columbia, May 14, 2021 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to announce the final results from the 2020 drilling at the Macmillan Pass Project in Yukon, Canada. These results are from the Reverse Circulation (RC) drill program at the Tom and Jason deposits (see Map 1). Highlights Hole TRC20-003 intersected 8.2 m true thickness of 11.00% zinc, 8.74% lead, and 19.6 g/t silver in an infill hole at Tom WestHole TRC20-007 intersected 8.1 m true thickness of 5.92% zinc, 0.25% lead, and 1.7 g/t silver in a step-out hole at Tom North.Hole TRC20-002 intersected 10.6 m true thickness of 9.43% zinc, 5.36% lead, and 36.4 g/t silver in a twin of hole TS020, an historic diamond hole drilled at Tom West in 1952.Lead and silver grades in RC twin holes are significantly higher than historic small-diameter diamond drill holes. Table 1: 2020 RC drill results from the Tom and Jason Deposits Drill HoleZoneFrom(meters)To(meters)Interval(meters)EstimatedTrueWidth(meters)Zinc %)Lead(%)Silver(g/t) TRC20-002Tom West44.2057.9113.7110.69.435.3636.4 (TS020)*Tom West59.4470.8711.4310.19.383.6723.7 TRC20-003Tom West38.1047.249.148.211.008.7419.6 TRC20-004Tom West42.6750.297.627.28.854.7018.4 TRC20-007Tom North88.3997.549.158.15.920.251.7 JRC20-002Jason Main44.2059.4415.246.305.543.232.2 *TS020 is an historic diamond drill hole drilled in 1952 and grades reported here are from historic records to show a comparison to twinned hole TRC20-002. CEO StatementBrandon Macdonald, CEO, stated, “Improvements in grade with modern drilling methods have been seen in 2018 at Tom West, in 2019 at Tom North and again here in 2020, showing significant grade upside potential for infill drilling. The RC program tested areas with some of the most challenging drilling conditions on the property and yet still delivered excellent results at a lower cost than diamond drilling. We see potential to use RC drilling during infill drill programs to reduce the cost of upgrading mineral resources at shallow depths, particularly at Boundary Zone where mineralization occurs at surface and is hosted by much more competent rocks where drilling conditions are much more favourable. The successful step-out hole shows that the project continues to grow at Tom as we advance new discoveries at Boundary Zone.” 2020 RC Drilling programThe program was designed to test the potential of RC drilling as a lower cost alternative to diamond drilling for upgrading mineral resources at shallow depths. In 2020, a small number of RC test holes were drilled as infill and twin holes at the Tom and Jason deposits. A step-out hole was also drilled at Tom North. The 2020 RC infill drilling at Tom West was located in the high-grade, feeder-proximal part of the deposit where the current Mineral Resource is supported by small-diameter historic AX (30.1 mm diameter) or EX (20.6 mm diameter) diamond drill core (see Map 2 and Fireweed news release dated January 10, 2018). Hole TRC20-002 was an RC twin of an historic EX diamond drill hole, TS020. Zinc grades are very similar but lead and silver grades are significantly higher in TRC20-002 compared to historic hole TS020. Elsewhere at Tom West and at Tom North, similar patterns have been observed where modern drilling methods show significantly higher grades and thicknesses than nearby historic small-diameter core diamond holes due to better recoveries with modern drilling methods (see Fireweed news releases dated October 10th, 2018 and August 20th, 2019). Other successful 2020 Tom West infill RC holes intersected consistent high zinc, lead and silver grades shown in Table 1. The Tom North exploration target was defined by drilling by Fireweed in 2019 but is not yet classified as a Mineral Resource (see Fireweed news release dated August 20th, 2019). Hole TRC20-007 was a modest step-out in the down-dip direction at Tom North, 50 m away from the previously drilled mineralized intercept in hole TS19-001 (see Map 2) and is within 80 m from surface. Hole JRC20-002 was drilled as an RC infill hole in the Jason Main deposit (see Map 3). Mineralization was intercepted from 44.20 m to the end of hole at 59.44 m. The hole was abandoned in mineralization due to drilling difficulties, intersecting approximately two-thirds of the mineralized zone. Notes on sampling, assaying, and data aggregation: RC rock cuttings were collected with a face-sampling bit to minimize contamination. Samples were collected at 1.52 m intervals as the drill was operating. When drilling dry, the samples from the drill return cyclone were collected in a clean plastic 20 litre pail and the sample was weighed to assess recovery for each run. Samples were then logged for geology and run through a Jones-type riffle splitter to recover a 2 kg to 6 kg sample split. Washed chips were examined and stored in a chip tray for reference. Pails and splitter were thoroughly cleaned with compressed air prior to processing the next sample. Sample splits were collected in plastic sample bags, securely closed, packed and shipped to the laboratory for assay. When drilling wet, the entire sample was collected, logged and left to dry in open air. When dry, each sample was weighed to calculate recovery and then processed as described above. After sampling, the remaining cuttings were left on site and bagged for archival purposes. The RC logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release had good recoveries, typically above 85%. A total of 5% assay standards or blanks and 5% RC duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2020 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory. RC drill results in this news release are length weighted averages. True thicknesses have been estimated in 3D using interpretations from geological and assay data in surrounding drill holes to determine the geometry of the mineralized zones. Qualified Person StatementTechnical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist, and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. About Fireweed Zinc Ltd. (TSXV: FWZ): Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 940 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology. Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill sections can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com. ON BEHALF OF FIREWEED ZINC LTD. “Brandon Macdonald” CEO & Director ContactBrandon MacDonaldPhone: (604) 646-8361 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. Cautionary StatementsThis news release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company’s prospectus dated May 9, 2017, and filed under the Company’s profile on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Map 1 – Macmillan Pass Project: Locations of the 2020 exploration targets, advanced prospects, and known deposits.https://www.globenewswire.com/NewsRoom/AttachmentNg/11af036f-cbd2-4657-846e-479d18f7693c Map 2 – Tom 2020 RC drilling: Locations of the 2020 RC drill holes at Tom. Diamond drill holes are also shown, and those referred to in the text are labelled.https://www.globenewswire.com/NewsRoom/AttachmentNg/9633d902-a26c-4518-b231-424274a360cf Map 3 – Jason 2020 RC drilling: Locations of the 2020 RC drill holes at Jason. Diamond drill hole locations are also shown.https://www.globenewswire.com/NewsRoom/AttachmentNg/e157ee02-82ad-46f6-ac13-0b02e0dd3e15 Table 2 - Reverse Circulation (RC) Drill Hole Collars Drill HoleLength (m)ZoneEasting*Northing*Elevation (m)Dip (°)Grid Azimuth (°)TRC20-0017.6Tom West44206570036671547-50066TRC20-00282.3Tom West44207170036631547-80066TRC20-00364.0Tom West44207170036631547-55066TRC20-00464.0Tom West44207170036631547-70089TRC20-00547.2Tom West44207170036631547-55129TRC20-00636.6Tom West44204970036781545-80065TRC20-00798.45Tom North44165470045071422-51076JRC20-00147.24Jason Main43643770027741298-50027JRC20-00259.44Jason Main43653370027721300-65011 *UTM Zone 9 NAD83 Table 3 - Reverse Circulation (RC) Drill Hole Summary. Drill HoleLength (m)ZoneTargetResults and ObservationsTRC20-0017.6Tom WestInfillHole abandoned at casing due to drilling problemsTRC20-00282.3Tom WestTwin of historic holeSuccessful twin with good recovery. Assays reported in this release.TRC20-00364.0Tom WestInfillTom West zone intersected. Assays reported in this release.TRC20-00464.0Tom WestInfillTom West zone intersected. Assays reported in this release.TRC20-00547.2Tom WestStep-outHole abandoned before target depth due to drilling problemsTRC20-00636.6Tom WestInfillHole abandoned before target depth due to drilling problemsTRC20-00798.45Tom NorthStep-outTom North zone intersected. Last run 97.54-98.45 m inweak mineralization (2.52% Zn, 0.06% Pb and 1.4 g/tAg over 0.91 m) before hole was abandoned due todrilling problems. Assays reported in this release.JRC20-00147.24Jason MainInfillHole abandoned before target depth due to drilling problems.JRC20-00259.44Jason MainInfillJason Main zone intersected. Hole abandoned inmineralization. Assays reported in this release.

2021-05-14 - Yahoo! Finance: VEIN.V News

Pasofino Gold Amends Agreement to Sell its 50% Interest in the Roger Gold-Copper Project Located in Quebec

Toronto, Ontario--(Newsfile Corp. - May 14, 2021) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07) (Pasofino or the Company) announces that it has amended the terms of the agreement with QC Copper & Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) (QC Copper), whereby Pasofino is selling its 50% interest in the advanced-stage Roger Gold-Copper Project (the Project), located in Quebec's prolific Abitibi Greenstone Belt, to QC Copper (the Transaction). Pursuant to the amendment, ...

2021-05-14 - Yahoo! Finance: SURG.V News

Surge Copper Announces Upsize of Bought Deal Private Placement Financing to $14.0M

VANCOUVER, British Columbia, May 14, 2021 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce that the Company has entered into an amendment to its previously announced agreement with PI Financial Corp. (“PI Financial”), pursuant to which a syndicate of underwriters led by PI Financial have agreed to increase the size of the private placement from approximately C$10.0M to approximately C$14.0M (the “Offering”). Pursuant to the amended terms, the Offering will now consist of (i) 4,445,000 units (the “Units”) sold at a price of C$0.45 per Unit; (ii) 11,325,000 flow-through units (the “FT units”) sold at a price of C$0.53 per FT Unit; and (iii) 9,775,000 charity flow-through units (the “Charity FT Units”) sold at a price of C$0.615 and there is no underwriters’ option to increase the size of the Offering. Each Unit will consist of one common share and one-half of one transferable common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each FT Unit will consist of one flow-through common share and one-half of one Warrant to be issued on a non-flow through basis. Each Charity FT Unit will consist of one charity flow-through common share and one-half of one Warrant to be issued on a non-flow through basis. Each Warrant shall be exercisable into one additional common share for twenty-four months from closing at an exercise price of C$0.60 per Warrant. The net proceeds raised from the Units will be used to fund ongoing project development expenditures, and for working capital and general corporate purposes. The aggregate gross proceeds raised from the FT Units and Charity FT Units will be used before 2023 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act (the “Qualifying Expenditures”). The Offering is expected to close on or about June 10, 2021 or such other date as agreed between the Company and the underwriters (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The Units, FT Units, and Charity FT Units are subject to a four month hold period from the date of closing of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Surge Copper Corp. The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit constrained NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and Indicated categories. The Company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits. Berg contains pit constrained 43-101 compliant resources of copper, molybdenum, and silver in the Measured and Indicated categories. Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits. On Behalf of the Board of Directors “Leif Nilsson”Chief Executive Officer For Further information, please contact:Telephone: +1 604 416 2978 or +1 604 558 5847info@surgecopper.comhttp://www.surgecopper.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as will, may, should, expects, plans, or anticipates or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company’s plans regarding the Berg Property and the Ootsa Property, use of proceeds from the Offering and the expected closing date. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals, the ability to obtain adequate financing to conduct its planned exploration programs, inability to procure labour, equipment and supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus pandemic, and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

2021-05-14 - Yahoo! Finance: LITH.V News

IIROC Trading Halt - LITH

The following issues have been halted by IIROC:

2021-05-14 - Yahoo! Finance: AN.V News

Arena Minerals Announces Closing of Pampa Paciencia Property Sale to Astra Exploration

TORONTO, May 14, 2021 (GLOBE NEWSWIRE) -- Arena Minerals Inc. (Arena or the Company) (TSX-V: AN) is pleased to announce completion of the sale of the Pampa Paciencia epithermal gold property (the “Property”), located in the Atacama region of northern Chile, to Astra Exploration Ltd (“Astra”), a private mineral exploration company. In consideration for Arena’s 80% ownership of the Property the Company has received 5.82 million of shares of Astra, representing 40% of the issued and outstanding shares of Astra with a deemed value of $1.6 million. Astra is a newly formed private mineral exploration company led by a proven management team with previous exploration success in discovering epithermal gold deposits. Astra intends to initiate a drill program on the Property and complete a going public transaction in 2021. Under the Agreement, until the earlier of an Astra Going Public Transaction (which includes the listing of Arena’s shares on the TSX Venture Exchange or other recognized Canadian or U.S. stock exchange) and a change of control of Arena, Arena has the right to participate in future financings of Astra to maintain its percentage shareholding in Astra if it holds 5% to 25% of Astra’s outstanding shares, and has the right to nominate a director to the Astra board as long as it maintains at least a 5% shareholding in Astra. Prior to the earlier of completion by Astra of an Astra Going Public Transaction and 12 months from closing, Arena may not sell its Astra shares without Astra’s consent. Following completion of an Astra Going Public Transaction, and provided it holds at least 5% of Astra’s shares, Arena must provide Astra with an opportunity to identify purchasers for any Astra shares that it proposes to sell before it may sell them to third parties. Arena has also agreed to vote all Astra shares it holds in favour of Astra management’s proposals at any meeting of the shareholders of Astra held within 24 months of closing. About Arena Minerals Inc. Arena owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products. Arena also owns 80 percent of the Atacama Copper property consisting of two projects covering approximately 5,000 hectares within the Antofagasta region of Chile. The project is at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district. The technical and scientific aspects of this news release have been reviewed and approved by Mr. William Randall, P.Geo, who is a qualified person pursuant to NI 43-101. As the President & CEO of the Company, Mr. Randall is not considered independent. To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab “the Company Explained”) and an email registration allowing subscribers to receive news and updates directly. For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com. On behalf of the Board of Directors of: Arena Minerals Inc. William Randall, President and CEO Cautionary Note Regarding Accuracy and Forward-Looking Information This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to private placement financings, the ability of the Company to complete private placement financings, results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project in Chile, the Antofalla, Hombre Muerto or Pocitos Projects in Argentina , and the Company's ability to obtain financing. Generally, forward-looking information 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, 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. The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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 or intended. There can be no assurance that such information 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 information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Neither 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.

2021-05-14 - Yahoo! Finance: MMX.TO News

Maverix Announces First Quarter 2021 Results and Increases Dividend by 25%

Maverix Metals Inc. (Maverix or the Company) (NYSE American: MMX) (TSX: MMX) is pleased to announce operating and financial results for the first quarter ended March 31, 2021.

2021-05-14 - Yahoo! Finance: BTU.V News

BTU Commences Drilling New High Priority Targets South of The TNT Copper-Silver-Gold Discovery

VANCOUVER, BC / ACCESSWIRE / May 14, 2021 / BTU METALS CORP. (BTU or the Company) (TSX:V:BTU)(OTC PINK:BTUMF) announces drilling is now underway and the current drilling is designed to test various new targets at the TNT area on the Dixie Halo properties near Red Lake, Ontario (see https://www.

2021-05-14 - MINING.COM

Iamgold to restart Westwood in second half of 2021

The gold mine has been halted since late October, when Iamgold had to lay off 437 workers following a seismic event at the operation.

2021-05-14 - Yahoo! Finance: AUU.V News

Gold79 Secures an Agreement for the Banner Group Patented Claims and Provides Corporate Update

Ottawa, Ontario--(Newsfile Corp. - May 14, 2021) - Gold79 Mines Ltd. (TSXV: AUU) (Gold79 or the Company) is pleased to announce that it has completed a Definitive Lease and Option to Purchase Agreement for the Banner Group patented claims (see March 17, 2021 press release) that further expands the Company's Gold Chain project in western Arizona. Gold79 has also made its required share payments with respect to the Purchase and Sale Agreement for the ...

2021-05-14 - Yahoo! Finance: SGQ.TO News

SouthGobi Resources announces first quarter 2021 financial and operating results

HONG KONG, May 14, 2021 (GLOBE NEWSWIRE) -- SouthGobi Resources Ltd. (Toronto Stock Exchange (“TSX”): SGQ, Hong Kong Stock Exchange (“HKEX”): 1878) (the Company or “SouthGobi”) today announces its financial and operating results for the three months ended March 31, 2021. All figures are in U.S. dollars (“USD”) unless otherwise stated. Significant Events and Highlights The Company’s significant events and highlights for the three months ended March 31, 2021 and the subsequent period to May 14, 2021 are as follows: Operating Results – The Company’s sales volume increased from 0.2 million tonnes in the first quarter of 2020 to 0.6 million tonnes in the first quarter of 2021. The increase in sales volume was mainly attributable to the Company suspending coal exports to China during the first quarter of 2020 as a result of the closure of the Mongolia-Chinese border during the period between February 11, 2020 and March 27, 2020 in order to prevent the spread of Coronavirus Disease 2019 (“COVID-19”). The Company experienced an increase in the average selling price of coal from $31.2 per tonne in the first quarter of 2020 to $43.5 per tonne in the first quarter of 2021, as a result of improved market conditions, higher coal prices in China as well as a higher portion of sales made through the Company’s Inner Mongolia subsidiary.Financial Results – The Company recorded a $7.5 million profit from operations in the first quarter of 2021 compared to a $1.3 million loss from operations in the first quarter of 2020. The improvement was principally attributable to (i) the higher selling price achieved by the Company during the quarter ($43.5 per tonne in the first quarter of 2021 versus $31.2 per tonne in the first quarter of 2020); and (ii) the increase in sales volume from 0.2 million tonnes in the first quarter of 2020 to 0.6 million tonnes in the first quarter of 2021.Impact of the COVID-19 Pandemic – Since the onset of the COVID-19 pandemic which began in early 2020, the Mongolian local authorities have taken certain precautionary steps to minimize further transmission of COVID-19 in Mongolia and announced several lockdown measures in Ulaanbaatar. Although the export of coal from Mongolia to China continues as of the date hereof, there can be no guarantee that the Company will be able to continue exporting coal to China, or that the border crossings would not be the subject of additional closures as a result of COVID-19 or any variants thereof in the future. The Company will continue to closely monitor the development of the COVID-19 pandemic and the impact it has on coal exports to China and will react promptly to preserve the working capital of the Company and mitigate any negative impacts on the business and operations of the Company.In the event that the Company’s ability to export coal into the Chinese market becomes restricted or limited again as a result of any future restrictions which may be implemented at the Mongolia-China border crossing, this is expected to have a material adverse effect on the business and operations of the Company and may negatively affect the price and volatility of the Common Shares and any investment in such shares could suffer a significant decline or total loss in value. China Investment Corporation (“CIC”) convertible debenture (“CIC Convertible Debenture”) – On November 19, 2020, the Company and CIC entered into an agreement (the “2020 November Deferral Agreement”) pursuant to which CIC agreed to grant the Company a deferral of: (i) deferred cash interest and deferral fees of approximately $75.2 million which were due and payable to CIC on or before September 14, 2020, under the deferral agreement signed on June 19, 2020 (the “2020 June Deferral Agreement”); (ii) semi-annual cash interest payments in the aggregate amount of $16.0 million payable to CIC on November 19, 2020 and May 19, 2021; (iii) $4.0 million worth of payment in kind interest (“PIK Interest”) shares (“2020 November PIK Interest”) issuable to CIC on November 19, 2020 under the CIC Convertible Debenture; and (iv) the Management Fee that were due and payable payable to CIC on November 14, 2020 and February 14, 2021, and that will be due and payable to CIC on May 15, 2021, August 14, 2021 and November 14, 2021 under the Amended and Restated Cooperation Agreement (collectively, the “2020 November Deferral Amounts”). On October 29, 2020, the Company obtained an order from the British Columbia Securities Commission (the “BCSC”), the Company’s principal securities regulator in Canada, which partially revoked the CTO (as defined below) to, amongst other things, permit the Company to execute the 2020 November Deferral Agreement.The 2020 November Deferral Agreement became effective on January 21, 2021, being the date on which the 2020 November Deferral Agreement was approved by shareholders at the Company’s annual and special meeting of shareholders.The principal terms of the 2020 November Deferral Agreement are as follows:• Payment of the 2020 November Deferral Amounts will be deferred until August 31, 2023.• CIC agreed to waive its rights arising from any default or event default under the CIC Convertible Debenture as a result of trading in the Common Shares being halted on the TSX beginning as of June 19, 2020 and suspended on the HKEX beginning as of August 17, 2020, in each case for a period of more than five trading days.• As consideration for the deferral of the 2020 November Deferral Amounts, the Company agreed to pay CIC: (i) a deferral fee equal to 6.4% per annum on the 2020 November Deferral Amounts payable under the CIC Convertible Debenture and the 2020 June Deferral Agreement, commencing on the date on which each such 2020 November Deferral Amounts would otherwise have been due and payable under the CIC Convertible Debenture or the 2020 June Deferral Agreement, as applicable; and (ii) a deferral fee equal to 2.5% per annum on the 2020 November Deferral Amounts payable under the Amended and Restated Cooperation Agreement, commencing on the date on which the Management Fee would otherwise have been due and payable under the Amended and Restated Cooperation Agreement.• The 2020 November Deferral Agreement does not contemplate a fixed repayment schedule for the 2020 November Deferral Amounts and related deferral fees. Instead, the Company and CIC would agree to assess in good faith the Company’s financial condition and working capital position on a monthly basis and determine the amount, if any, of the 2020 November Deferral Amounts and related deferral fees that the Company is able to repay under the CIC Convertible Debenture, the 2020 June Deferral Agreement or the Amended and Restated Cooperation Agreement, having regard to the working capital requirements of the Company’s operations and business at such time and with the view of ensuring that the Company’s operations and business would not be materially prejudiced as a result of any repayment.• Commencing as of November 19, 2020 and until such time as the November 2020 PIK Interest is fully repaid, CIC reserves the right to require the Company to pay and satisfy the amount of the November 2020 PIK Interest, either in full or in part, by way of issuing and delivering PIK interest shares in accordance with the CIC Convertible Debenture provided that, on the date of issuance of such shares, the Common Shares are listed and trading on at least one stock exchange.• If at any time before the 2020 November Deferral Amounts and related deferral fees are fully repaid, the Company proposes to appoint, replace or terminate one or more of its Chief Executive Officer, its Chief Financial Officer or any other senior executive(s) in charge of its principal business function or its principal subsidiary, then the Company must first consult with, and obtain written consent from CIC prior to effecting such appointment, replacement or termination. Cease Trade Order and Halt Trading on TSX – On June 19, 2020, the BCSC issued a general “failure to file” cease trade order (“CTO”), to prohibit the trading by any person of any securities of the Company in Canada. Trading in the Common Shares on the TSX was halted as a result of the CTO. The CTO was issued as a result of the Company’s failure to file: (i) its annual consolidated financial statements for the year ended December 31, 2019 and the accompanying Management Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”); (ii) its Annual Information Form for the year ended December 31, 2019; and (iii) its condensed consolidated interim financial statements for the three-month period ended March 31, 2020 and accompanying MD&A, in each case prior to the filing deadline of June 15, 2020.On February 5, 2021, the BCSC and the Ontario Securities Commission granted a full revocation of the CTO. Trading in the Common Shares resumed on the TSX on February 8, 2021. Suspension of Trading on HKEX – At the request of the Company, trading in the shares of the Company on the HKEX was suspended with effect as of August 17, 2020 pending the publication of the audited annual results of the Company for the year ended December 31, 2019. On February 9, 2021, the Company confirmed that it has fulfilled all the conditions stated in the resumption guidance to the satisfaction of the HKEX. Trading in the Common Shares resumed on the HKEX on February 10, 2021. TSX Delisting Review – On September 11, 2020, the TSX notified the Company that it is reviewing the eligibility for continued listing of the Common Shares on the TSX pursuant to the TSX’s Remedial Review Process (“TSX Delisting Review”). On December 16, 2020, the TSX accepted the Company’s request for a 60 day extension of the TSX Delisting Review process and the Company has been granted until February 16, 2021 to remedy the following delisting criteria, as well as any other delisting criteria that become applicable during the Remedial Review Process: (i) financial condition and/or operating results; (ii) adequate working capital and appropriate capital structure; and (iii) disclosure issues. On February 15, 2021, the Company announced that the TSX Continued Listing Committee determined that the Company satisfies the TSX’s applicable requirements for continued listing . Restoration of Soumber Deposit Mining Licenses – On August 26, 2019, SGS received a letter (the “Notice Letter”) from the Mineral Resource Authority of Mongolia (“MRAM”) notifying that the Company’s three mining licenses (MV-016869, MV-020436 and MV-020451) (the “Soumber Mining Licenses”) for the Soumber Deposit have been terminated by the Head of Cadastre Division of MRAM effective as of August 21, 2019. On March 2, 2021, SGS received a notice from the Mongolian governmental authority that the Soumber Mining Licenses have been reinstated effective as of March 2, 2021. Changes in ManagementMr. Weiguo Zhang: Mr. Zhang resigned as Chief Financial Officer on February 10, 2021.Mr. Alan Ho: Mr. Ho was appointed as acting Chief Financial Officer on February 10, 2021.Mr. Aiming Guo: Mr. Guo resigned as Chief Operating Officer on February 10, 2021.Mr. Tao Zhang: Mr. Zhang has been re-designated from Vice President to Vice President of Sales on February 10, 2021.Mr. Munkhbat Chuluun: Mr. Chuluun was appointed as Vice President of Public Relations on February 10, 2021. Going Concern – Several adverse conditions and material uncertainties relating to the Company cast significant doubt upon the going concern assumption which includes the deficiencies in assets and working capital. Refer to section “Liquidity and Capital Resources” of this press release for details. OVERVIEW OF OPERATIONAL DATA AND FINANCIAL RESULTS Summary of Operational Data Three months ended March 31, 2021 2020 Sales Volumes, Prices and Costs Premium semi-soft coking coal Coal sales (millions of tonnes) 0.40 0.07 Average realized selling price (per tonne) $ 47.88 $28.46 Standard semi-soft coking coal/ premium thermal coal Coal sales (millions of tonnes) 0.23 0.13 Average realized selling price (per tonne) $ 35.17 $32.71 Standard thermal coal Coal sales (millions of tonnes) - - Average realized selling price (per tonne) $ - $- Washed coal Coal sales (millions of tonnes) 0.01 - Average realized selling price (per tonne) $ 49.62 $- Total Coal sales (millions of tonnes) 0.64 0.20 Average realized selling price (per tonne) $ 43.46 $31.18 Raw coal production (millions of tonnes) 1.04 0.01 Cost of sales of product sold (per tonne) $ 28.67 $30.36 Direct cash costs of product sold (per tonne) (i) $ 18.15 $11.69 Mine administration cash costs of product sold (per tonne) (i) $ 1.04 $2.50 Total cash costs of product sold (per tonne) (i) $ 19.19 $14.19 Other Operational Data Production waste material moved (millions of bank cubic 5.04 0.57 meters) Strip ratio (bank cubic meters of waste material per tonne of 4.83 85.08 coal produced) Lost time injury frequency rate (ii) 0.00 0.09 (i) A Non-International Financial Reporting Standards (“non-IFRS”) financial measure. Refer to “Non-IFRS Financial Measures” section. Cash costs of product sold exclude idled mine asset cash costs.(ii) Per 200,000 man hours and calculated based on a rolling 12 month average. Overview of Operational Data The Company ended the first quarter of 2021 without a lost time injury. As at March 31, 2020, the Company had a lost time injury frequency rate of 0.09 per 200,000 man hours based on a rolling 12-month average. As a result of improved market conditions, higher coal prices in China as well as a higher portion of sales made through the Company’s Inner Mongolia subsidiary, the average realized selling price of our coal increased from $31.2 per tonne in the first quarter of 2020 to $43.5 per tonne in the first quarter of 2021. The product mix for the first quarter of 2021 consisted of approximately 63% of premium semi-soft coking coal, 35% of standard semi-soft coking coal/premium thermal coal and 2% of washed coal compared to approximately 36% of premium semi-soft coking coal and 64% of standard semi-soft coking coal/premium thermal coal in the first quarter of 2020. The Company’s sales volume increased from 0.2 million tonnes in the first quarter of 2020 to 0.6 million tonnes in the first quarter of 2021. The lower sales volume in the first quarter of 2020 was mainly attributable to the closure of Mongolia’s southern border with China during the period between February 11, 2020 and March 27, 2020 in order to prevent the spread of COVID-19. The Company’s production in the first quarter of 2020 was much lower than in the first quarter of 2021 as a result of the temporary cessation of the Company’s major mining operations (including coal mining) which took effect in February 2020 for the purpose of mitigating the financial impact of the border closures and preserving the Company’s working capital. The Company’s unit cost of sales of product sold decreased from $30.4 per tonne in the first quarter of 2020 to $28.7 per tonne in the first quarter of 2021. The decrease was mainly driven by increased sales and the related economies of scale. Summary of Financial Results Three months ended March 31,$ in thousands, except per share information 2021 2020 Revenue (i) $ 28,064 $6,137 Cost of sales (i) (18,347) (6,071)Gross profit excluding idled mine asset costs (ii) 10,228 1,462 Gross profit 9,717 66 Other operating income/(expenses) (335) 470 Administration expenses (1,781) (1,771)Evaluation and exploration expenses (65) (56)Profit/(loss) from operations 7,536 (1,291) Finance costs (14,637) (7,135)Finance income 21,001 43 Share of earnings of a joint venture 274 (46)Income tax expense (1,120) (732) Net profit/(loss) attributable to equity holders of the Company 13,054 (9,161)Basic earnings/(loss) per share $ 0.05 $(0.03)Diluted earnings/(loss) per share $ 0.02 $(0.03) (i) Revenue and cost of sales related to the Company’s Ovoot Tolgoi Mine within the Coal Division operating segment. Refer to note 3 of the condensed consolidated interim financial statements for further analysis regarding the Company’s reportable operating segments. (ii) A non-IFRS financial measure, idled mine asset costs represents the depreciation expense relates to the Company’s idled plant and equipment. Overview of Financial Results The Company recorded a $7.5 million profit from operations in the first quarter of 2021 compared to a $1.3 million loss from operations in the first quarter of 2020. The improvement was principally attributable to (i) the higher selling price achieved by the Company during the quarter ($43.5 per tonne in the first quarter of 2021 versus $31.2 per tonne in the first quarter of 2020); and (ii) the increase in sales volume from 0.2 million tonnes in the first quarter of 2020 to 0.6 million tonnes in the first quarter of 2021. Revenue was $28.1 million in the first quarter of 2021 compared to $6.1 million in the first quarter of 2020. The Company’s effective royalty rate for the first quarter of 2021, based on the Company’s average realized selling price of $43.5 per tonne, was 15.0% or $6.5 per tonne, compared to 20.1% or $6.3 per tonne in the first quarter of 2020 (based on the average realized selling price of $31.2 per tonne in the first quarter of 2020). Royalty regime in Mongolia The royalty regime in Mongolia is evolving and has been subject to change since 2012. On September 4, 2019, the Government of Mongolia issued a further resolution in connection with the royalty regime. From September 1, 2019 onwards, in the event that the contract sales price is less than the reference price as determined by the Government of Mongolia by more than 30%, then the royalty payable will be calculated based on the Mongolian government’s reference price instead of the contract sales price. Cost of sales was $18.3 million in the first quarter of 2021 compared to $6.1 million in the first quarter of 2020. The increase in cost of sales was mainly due to the increased sales during the quarter. Cost of sales consists of operating expenses, share-based compensation expense/recovery, equipment depreciation, depletion of mineral properties, royalties and idled mine asset costs. Operating expenses in cost of sales reflect the total cash costs of product sold (a non-IFRS financial measure, refer to section “Non-IFRS Financial Measures” of this press release for further analysis) during the quarter. Three months ended March 31,$ in thousands 2021 2020 Operating expenses $ 12,280 $2,838 Share-based compensation expense/(recovery) (2) 2 Depreciation and depletion 1,358 578 Royalties 4,200 1,257 Cost of sales from mine operations 17,836 4,675 Cost of sales related to idled mine assets 511 1,396 Cost of sales $ 18,347 $6,071 Operating expenses in cost of sales were $12.3 million in the first quarter of 2021 compared to $2.8 million in the first quarter of 2020. The overall increase in operating expenses was primarily due to the increased sales volume from 0.2 million tonnes in the first quarter of 2020 to 0.6 million tonnes in the first quarter of 2021. Cost of sales related to idled mine assets in the first quarter of 2021 included $0.5 million related to depreciation expenses for idled equipment (first quarter of 2020: $1.4 million). Other operating expenses were $0.3 million in the first quarter of 2021 (first quarter of 2020: other operating income of $0.5 million). Three months ended March 31,$ in thousands 2021 2020 CIC management fee $ (613) $(122)Provision for doubtful trade and other receivables (191) (138)Foreign exchange gain, net 18 772 Gain on disposal of items of property, plant and equipment, net 270 39 Discount on settlement of trade payables 156 - Reversal of impairment on materials and supplies inventories 25 - Provision for commercial arbitration - (81)Other operating income/(expenses) $ (335) $470 Administration expenses in the first quarter of 2021 and the first quarter of 2020 were both $1.8 million, as follows: Three months ended March 31,$ in thousands 2021 2020 Corporate administration $ 415 $305 Legal and professional fees 543 387 Salaries and benefits 633 910 Share-based compensation expense/(recovery) (6) 12 Depreciation 196 157 Administration expenses $ 1,781 $1,771 The Company continued to minimize evaluation and exploration expenditures in the first quarter of 2021 in order to preserve the Company’s financial resources. Evaluation and exploration activities and expenditures in the first quarter of 2021 were limited to ensuring that the Company met the Mongolian Minerals Law requirements in respect of its mining licenses. Finance costs were $14.6 million and $7.1 million in the first quarter of 2021 and 2020 respectively, which primarily consisted of interest expense on the $250.0 million CIC Convertible Debenture. The increase was mainly due to the Company recording a loss of $3.3 million on the fair value of the embedded derivatives relating to the Convertible Debenture and the associated increase in interest expenses following the recording of gain on extinguishment of Convertible Debenture. Summary of Quarterly Operational Data 2021 2020 2019 Quarter Ended31-Mar 31-Dec30-Sep30-Jun31-Mar 31-Dec30-Sep30-Jun Sales Volumes, Prices and Costs Premium semi-soft coking coal Coal sales (millions of tonnes) 0.40 0.38 0.35 0.21 0.07 0.39 0.05 0.12 Average realized selling price (per tonne) $ 47.88 $39.34 $30.17 $28.69 $28.46 $29.18 $31.49 $32.72 Standard semi-soft coking coal/ premium thermal coal Coal sales (millions of tonnes) 0.23 0.50 0.54 0.26 0.13 0.40 0.51 0.59 Average realized selling price (per tonne) $ 35.17 $31.66 $30.80 $33.12 $32.71 $31.88 $31.67 $35.67 Standard thermal coal Coal sales (millions of tonnes) - - - - - - - - Average realized selling price (per tonne) $ - $- $- $- $- $- $- $- Washed coal Coal sales (millions of tonnes) 0.01 0.07 0.10 0.02 - 0.20 0.25 0.17 Average realized selling price (per tonne) $ 49.62 $42.51 $41.30 $43.26 $- $42.95 $42.37 $44.20 Total Coal sales (millions of tonnes) 0.64 0.95 0.99 0.49 0.20 0.99 0.81 0.88 Average realized selling price (per tonne) $ 43.46 $35.53 $31.63 $31.66 $31.18 $33.04 $34.98 $36.80 Raw coal production (millions of tonnes) 1.04 0.96 0.52 - 0.01 1.48 1.21 1.33 Cost of sales of product sold (per tonne)$ 28.67 $23.36 $20.23 $21.16 $30.36 $23.68 $19.16 $25.04 Direct cash costs of product sold (per tonne) (i)$ 18.15 $14.78 $12.38 $9.90 $11.69 $13.61 $18.03 $17.18 Mine administration cash costs of product sold (per tonne) (i)$ 1.04 $1.07 $1.15 $1.70 $2.50 $1.29 $1.09 $1.39 Total cash costs of product sold (per tonne) (i)$ 19.19 $15.85 $13.53 $11.60 $14.19 $14.90 $19.12 $18.57 Other Operational Data - - - - - - - - Production waste material moved (millions of bank 5.04 3.10 1.67 - 0.57 3.61 4.36 5.34 cubic meters) Strip ratio (bank cubic meters of waste material per tonne of 4.83 3.24 3.20 - 85.08 2.44 3.61 4.01 coal produced) Lost time injury frequency rate (ii) 0.00 0.00 0.00 0.04 0.09 0.08 0.08 0.06 (i) A non-IFRS financial measure. Refer to section “Non-IFRS Financial Measures”. Cash costs of product sold exclude idled mine asset cash costs.(ii) Per 200,000 man hours and calculated based on a rolling 12 month average. Summary of Quarterly Financial Results The Company’s consolidated financial statements are reported under IFRS issued by the International Accounting Standards Board. The following table provides highlights, extracted from the Company’s annual and interim consolidated financial statements, of quarterly results for the past eight quarters. $ in thousands, except per share information 2021 2020 2019 Quarter Ended31-Mar 31-Dec30-Sep30-Jun31-Mar 31-Dec30-Sep30-Jun Financial Results Revenue (i)$ 28,064 $33,879 $30,960 $14,975 $6,137 $32,113 $28,309 $32,479 Cost of sales (i) (18,347) (22,193) (20,027) (10,366) (6,071) (23,446) (15,518) (22,031) Gross profit excluding idled mine asset costs 10,228 12,610 11,789 6,286 1,462 9,971 13,664 11,318 Gross profit including idled mine asset costs 9,717 11,686 10,933 4,609 66 8,667 12,791 10,448 Other operating income/(expenses) (335) 434 (575) (5,150) 470 (1,589) (1,245) (2,333) Administration expenses (1,781) (2,120) (1,789) (1,291) (1,771) (1,386) (2,074) (2,878) Evaluation and exploration expenses (65) (55) (63) (52) (56) (382) (22) (23) Profit/(loss) from operations 7,536 9,945 8,506 (1,884) (1,291) 5,310 9,450 5,214 Finance costs (14,637) (7,442) (9,885) (7,258) (7,135) (7,095) (7,184) (7,001) Finance income 21,001 13 2,583 2 43 36 68 4,305 Share of earnings/(loss) of a joint venture 274 431 660 268 (46) 225 277 375 Current income tax expense (1,120) (5,174) (793) (900) (732) (659) (468) (801) Net profit/(loss) 13,054 (2,227) 1,071 (9,772) (9,161) (2,183) 2,143 2,092 Basic earnings/(loss) per share$ 0.05 $(0.01)$- $(0.04)$(0.03) $(0.01)$0.01 $0.01 Diluted earnings/(loss) per share$ 0.02 $(0.01)$- $(0.04)$(0.03) $(0.01)$0.01 $0.01 (i) Revenue and cost of sales relate to the Company’s Ovoot Tolgoi Mine within the Coal Division operating segment. Refer to note 3 of the condensed consolidated interim financial statements for further analysis regarding the Company’s reportable operating segments. LIQUIDITY AND CAPITAL RESOURCES Liquidity and Capital Management The Company has in place a planning, budgeting and forecasting process to help determine the funds required to support the Company’s normal operations on an ongoing basis and its expansionary plans. Bank Loan On May 15, 2018, SGS obtained a bank loan (the “2018 Bank Loan”) in the principal amount of $2.8 million from a Mongolian bank (the “Bank”) with the key commercial terms as follows: Maturity date set at 24 months from drawdown (subsequently extended for 12 months on May 18, 2020);Interest rate of 15% per annum and interest is payable monthly; andCertain items of property, plant and equipment were pledged as security for the 2018 Bank Loan. As at December 31, 2020, the net carrying amount of the pledged items of property, plant and equipment was $0.1 million. As at December 31, 2020, the outstanding principal balance of the 2018 Bank Loan was $2.8 million and the accrued interest owed by the Company was negligible. In February 2021, $2.8 million was repaid to the Bank by the Company in full settlement of the outstanding principal balance of the 2018 Bank Loan and the accrued interest thereon. Costs reimbursable to Turquoise Hill Resources Limited (“Turquoise Hill”) Prior to the completion of a private placement with Novel Sunrise Investments Limited (“Novel Sunrise”) on April 23, 2015, Rio Tinto plc (“Rio Tinto”) was the Company’s ultimate parent company. In the past, Rio Tinto sought reimbursement from the Company for the salaries and benefits of certain Rio Tinto employees who were assigned by Rio Tinto to work for the Company, as well as certain legal and professional fees incurred by Rio Tinto in relation to the Company’s prior internal investigation and Rio Tinto’s participation in the tripartite committee. Subsequently Rio Tinto transferred and assigned to Turquoise Hill its right to seek reimbursement for these costs and fees from the Company. As at December 31, 2020, the amount of reimbursable costs and fees claimed by Turquoise Hill (the “TRQ Reimbursable Amount”) amounted to $8.1 million (such amount is included in the trade and other payables). No agreement on repayment had been reached between the Company and Turquoise Hill as at December 31, 2020. On January 20, 2021, the Company and Turquoise Hill entered into a settlement agreement, whereby Turquoise Hill agreed to a repayment schedule in settlement of certain secondment costs in the amount of $2.8 million (representing a portion of the TRQ Reimbursable Amount) pursuant to which the Company agreed to make monthly payments to TRQ in the amount of $0.1 million per month from January 2021 to June 2022. The Company is contesting the validity of the remaining balance of the TRQ Reimbursable Amount claimed by Turquoise Hill. Going concern considerations The Company’s condensed consolidated interim financial statements have been prepared on a going concern basis which assumes that the Company will continue operating until at least March 31, 2022 and will be able to realize its assets and discharge its liabilities in the normal course of operations as they come due. However, in order to continue as a going concern, the Company must generate sufficient operating cash flow, secure additional capital or otherwise pursue a strategic restructuring, refinancing or other transactions to provide it with additional liquidity. Several adverse conditions and material uncertainties cast significant doubt upon the Company’s ability to continue as a going concern and the going concern assumption used in the preparation of the Company’s consolidated financial statements. The Company had a deficiency in assets of $63.5 million as at March 31, 2021 as compared to a deficiency in assets of $76.2 million as at December 31, 2020 while the working capital deficiency (excess current liabilities over current assets) was $33.8 million compared to a working capital deficiency of $217.6 million as at December 31, 2020. Included in the working capital deficiency as at March 31, 2021 are significant obligations, mainly represented trade and other payables of $79.5 million, which includes the unpaid taxes of $28.6 million that are repayable on demand to the Mongolian Tax Authority (“MTA”). The Company may not be able to settle all trade and other payables on a timely basis, while continuing postponement in settling certain trade payables owed to suppliers and creditors may impact the mining operations of the Company and may result in potential lawsuits and/or bankruptcy proceedings being filed against the Company. Except as disclosed elsewhere in this press release, no such lawsuits or proceedings are pending as at May 14, 2021. However, there can be no assurance that no such lawsuits or proceedings will be filed by the Company’s creditors in the future and the Company’s suppliers and contractors will continue to supply and provide services to the Company uninterrupted. There are significant uncertainties as to the outcomes of the above events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern and, therefore, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business. Should the use of the going concern basis in preparation of the condensed consolidated interim financial statements be determined to be not appropriate, adjustments would have to be made to write down the carrying amounts of the Company’s assets to their realizable values, to provide for any further liabilities which might arise and to reclassify non-current assets and non-current liabilities as current assets and current liabilities, respectively. The effects of these adjustments have not been reflected in the condensed consolidated interim financial statements. If the Company is unable to continue as a going concern, it may be forced to seek relief under applicable bankruptcy and insolvency legislation. Management of the Company has prepared a cash flow projection covering a period of 12 months from March 31, 2021. The cash flow projection has taken into account the anticipated cash flows to be generated from the Company’s business during the period under projection including cost saving measures. In particular, the Company has taken into account the following measures for improvement of the Company’s liquidity and financial position, which include: (i) entering into the 2020 November Deferral Agreement with CIC for a deferral of the 2020 November Deferral Amounts until August 31, 2023; (ii) agreeing to deferral arrangements and improved payment terms with certain vendors; (iii) reducing the outstanding tax payable by making monthly payments to MTA beginning as of June 2020; and (iv) reducing the inventory of low quality coal by wet washing and coal blending. After considering the above, and given the re-opening of the Mongolia-China border since March 28, 2020, the Directors believe that there will be sufficient financial resources to continue its operations and to meet its financial obligations as and when they fall due in the next 12 months from March 31, 2021 and therefore are satisfied that it is appropriate to prepare the condensed consolidated interim financial statements on a going concern basis. Factors that impact the Company’s liquidity are being closely monitored and include, but are not limited to, impact of the COVID-19 pandemic, Chinese economic growth, market prices of coal, production levels, operating cash costs, capital costs, exchange rates of currencies of countries where the Company operates and exploration and discretionary expenditures. As at March 31, 2021 and December 31, 2020, the Company was not subject to any externally imposed capital requirements. Impact of the COVID-19 Pandemic Since the onset of the COVID-19 pandemic which began in early 2020, the Mongolian local authorities have taken certain precautionary steps to minimize further transmission of COVID-19 in Mongolia and announced several lockdown measures in Ulaanbaatar. Although the export of coal from Mongolia to China continues as of the date hereof, there can be no guarantee that the Company will be able to continue exporting coal to China, or that the border crossings would not be the subject of additional closures as a result of COVID-19 or any variants thereof in the future. The Company will continue to closely monitor the development of the COVID-19 pandemic and the impact it has on coal exports to China and will react promptly to preserve the working capital of the Company and mitigate any negative impacts on the business and operations of the Company. CIC Convertible Debenture In November 2009, the Company entered into a financing agreement with CIC for $500 million in the form of a secured, convertible debenture bearing interest at 8.0% (6.4% payable semi-annually in cash and 1.6% payable annually in the Company’s shares) with a maximum term of 30 years. The CIC Convertible Debenture is secured by a first ranking charge over the Company’s assets and certain subsidiaries. The financing was used primarily to support the accelerated investment program in Mongolia and for working capital, repayment of debts, general and administrative expenses and other general corporate purposes. On March 29, 2010, the Company exercised its right to call for the conversion of up to $250.0 million of the CIC Convertible Debenture into approximately 21.5 million shares at a conversion price of $11.64 (CAD$11.88). As at March 31, 2021, CIC owned approximately 23.7% of the issued and outstanding Common Shares of the Company. On November 19, 2020, the Company and CIC entered into the 2020 November Deferral Agreement pursuant to which CIC agreed to grant the Company a deferral of the 2020 November Deferral Amounts. On October 29, 2020, the Company obtained an order from the BCSC which partially revoked the CTO to, amongst other things, permit the Company to execute the 2020 November Deferral Agreement. The 2020 November Deferral Agreement became effective on January 21, 2021, being the date on which the 2020 November Deferral Agreement was approved by shareholders at the Company’s annual and special meeting of shareholders. The principal terms of the 2020 November Deferral Agreement are as follows: Payment of the 2020 November Deferral Amounts will be deferred until August 31, 2023.CIC agreed to waive its rights arising from any default or event of default under the CIC Convertible Debenture as a result of trading in the Common Shares being halted on the TSX beginning as of June 19, 2020 and suspended on the HKEX beginning as of August 17, 2020, in each case for a period of more than five trading days.As consideration for the deferral of the 2020 November Deferral Amounts, the Company agreed to pay CIC: (i) a deferral fee equal to 6.4% per annum on the 2020 November Deferral Amounts payable under the CIC Convertible Debenture and the 2020 June Deferral Agreement, commencing on the date on which each such 2020 November Deferral Amounts would otherwise have been due and payable under the CIC Convertible Debenture or the 2020 June Deferral Agreement, as applicable; and (ii) a deferral fee equal to 2.5% per annum on the 2020 November Deferral Amounts payable under the Amended and Restated Cooperation Agreement, commencing on the date on which the Management Fee would otherwise have been due and payable under the Amended and Restated Cooperation Agreement. The 2020 November Deferral Agreement does not contemplate a fixed repayment schedule for the 2020 November Deferral Amounts and related deferral fees. Instead, the Company and CIC would agree to assess in good faith the Company’s financial condition and working capital position on a monthly basis and determine the amount, if any, of the 2020 November Deferral Amounts and related deferral fees that the Company is able to repay under the CIC Convertible Debenture, the 2020 June Deferral Agreement or the Amended and Restated Cooperation Agreement, having regard to the working capital requirements of the Company’s operations and business at such time and with the view of ensuring that the Company’s operations and business would not be materially prejudiced as a result of any repayment.Commencing as of November 19, 2020 and until such time as the November 2020 PIK Interest is fully repaid, CIC reserves the right to require the Company to pay and satisfy the amount of the November 2020 PIK Interest, either in full or in part, by way of issuing and delivering PIK interest shares in accordance with the CIC Convertible Debenture provided that, on the date of issuance of such shares, the Common Shares are listed and trading on at least one stock exchange.If at any time before the 2020 November Deferral Amounts and related deferral fees are fully repaid, the Company proposes to appoint, replace or terminate one or more of its Chief Executive Officer, its Chief Financial Officer or any other senior executive(s) in charge of its principal business function or its principal subsidiary, then the Company must first consult with, and obtain written consent from CIC prior to effecting such appointment, replacement or termination. Ovoot Tolgoi Mine Impairment Analysis The Company determined that an indicator of impairment existed for its Ovoot Tolgoi Mine cash generating unit as at March 31, 2021. The impairment indicator was the potential closures of the border crossings as a result of COVID-19 in the future. Since the recoverable amount was higher than carrying value of the Ovoot Tolgoi Mine cash generating unit, there was no impairment of non-financial asset recognized during the three months ended March 31, 2021. REGULATORY ISSUES AND CONTINGENCIES Class Action Lawsuit In January 2014, Siskinds LLP, a Canadian law firm, filed a class action (the “Class Action”) against the Company, certain of its former senior officers and directors, and its former auditors (the “Former Auditors”), in the Ontario Court in relation to the Company’s restatement of certain financial statements previously disclosed in the Company’s public fillings (the “Restatement”). To commence and proceed with the Class Action, the plaintiff was required to seek leave of the Court under the Ontario Securities Act (“Leave Motion”) and certify the action as a class proceeding under the Ontario Class Proceedings Act (“Certification Motion”). The Ontario Court rendered its decision on the Leave Motion on November 5, 2015, dismissing the action against the former senior officers and directors and allowing the action to proceed against the Company in respect of alleged misrepresentation affecting trades in the secondary market for the Company’s securities arising from the Restatement. The action against the Former Auditors was settled by the plaintiff on the eve of the Leave Motion. Both the plaintiffs and the Company appealed the Leave Motion decision to the Ontario Court of Appeal. On September 18, 2017, the Ontario Court of Appeal dismissed the Company’s appeal of the Leave Motion to permit the plaintiff to commence and proceed with the Class Action. Concurrently, the Ontario Court of Appeal granted leave for the plaintiff to proceed with their action against the former senior officers and directors in relation to the Restatement. The Company filed an application for leave to appeal to the Supreme Court of Canada in November 2017, but the leave to appeal to the Supreme Court of Canada was dismissed in June 2018. In December 2018, the parties agreed to a consent Certification Order, whereby the action against the former senior officers and directors was withdrawn and the Class Action would only proceed against the Company. Since December 2018, counsels for the parties have proceeded with the action as follows: (1) two case conferences before the motions judge; (2) production of certain documents by the Company to the plaintiffs; (3) review of those documents by plaintiffs’ counsel from May 2020 to November 2020; and (4) setting down examinations for discovery for February and March 2021. The Company is urging an early trial. The Company firmly believes that it has a strong defense on the merits and will continue to vigorously defend itself against the Class Action through independent Canadian litigation counsel retained by the Company for this purpose. Due to the inherent uncertainties of litigation, it is not possible to predict the final outcome of the Class Action or determine the amount of potential losses, if any. However, the Company has determined a provision for this matter as at March 31, 2021 was not required. Toll Wash Plant Agreement with Ejin Jinda In 2011, the Company entered into an agreement with Ejin Jinda, a subsidiary of China Mongolia Coal Co. Ltd. to toll-wash coals from the Ovoot Tolgoi Mine. The agreement had a duration of five years from commencement of the contract and provided for an annual wet washing capacity of approximately 3.5 million tonnes of input coal. Under the original agreement with Ejin Jinda, which required the commercial operation of the wet washing facility to commence on October 1, 2011, the additional fees payable by the Company under the wet washing contract would have been $18.5 million. At each reporting date, the Company assesses the agreement with Ejin Jinda and has determined it is not probable that these $18.5 million will be required to be paid. Accordingly, the Company has determined a provision for this matter as at March 31, 2021 was not required. Special Needs Territory in Umnugobi On February 13, 2015, the entire Soumber mining license and a portion of SGS' exploration license 9443X (9443X was converted to mining license MV-020436 in January 2016) (the “License Areas”) were included into a special protected area (to be further referred as Special Needs Territory, the “SNT”) newly set up by the Umnugobi Aimag’s Civil Representatives Khural (the “CRKh”) to establish a strict regime on the protection of natural environment and prohibit mining activities in the territory of the SNT. On July 8, 2015, SGS and the Chairman of the CRKh, in his capacity as the respondent’s representative, reached an agreement (the “Amicable Resolution Agreement”) to exclude the License Areas from the territory of the SNT in full, subject to confirmation of the Amicable Resolution Agreement by the session of the CRKh. The parties formally submitted the Amicable Resolution Agreement to the appointed judge of the Administrative Court for her approval and requested a dismissal of the case in accordance with the Law of Mongolia on Administrative Court Procedure. On July 10, 2015, the judge issued her order approving the Amicable Resolution Agreement and dismissing the case, while reaffirming the obligation of CRKh to take necessary actions at its next session to exclude the License Areas from the SNT and register the new map of the SNT with the relevant authorities. Mining activities at the Soumber property cannot proceed unless and until the Company obtains a court order restoring the Soumber Licenses (as defined below) and until the License Areas are removed from the SNT. On June 29, 2016, the Mongolian Parliament and CRKh election was held. As a result, the Company was aware that additional action may be taken in respect of the SNT; however, the Company has not yet received any indication on the timing of the next session of the CRKh. Restoration of Soumber Deposit Mining Licenses On August 26, 2019, SGS received the Notice Letter from MRAM notifying that the Company’s three mining licenses (MV-016869, MV-020436 and MV-020451) for the Soumber Deposit have been terminated by the Head of Cadastre Division of MRAM effective as of August 21, 2019. On March 2, 2021, SGS received a notice from the Mongolian governmental authority that the Soumber Mining Licenses have been reinstated effective as of March 2, 2021. Mongolian royalties On September 4, 2019, the Government of Mongolia issued a further resolution in connection with the royalty regime. From September 1, 2019 onwards, in the event that the contract sales price is less than the reference price as determined by the Government of Mongolia by more than 30%, then the royalty payable will be calculated based on the Mongolian government’s reference price instead of the contract sales price. Restrictions on Importing F-Grade Coal into China As a result of import restrictions established by Chinese authorities at the Ceke border, the Company has been barred from transporting its F-grade coal products into China for sale since December 15, 2018. OUTLOOK The Company anticipates that 2021 will be a year of both opportunities and difficulties for SouthGobi. The COVID-19 pandemic has caused unprecedented challenges around the world and adversely impacted the global economy. In Mongolia, the Mongolian State Emergency Commission closed Mongolia’s southern border with China between February 11, 2020 and March 27, 2020 in order to prevent the spread of COVID-19, which forced the Company to suspend all coal transport into China during this period. Even though the Mongolia-China border has re-opened and the Company’s mining operations resumed on August 2, 2020, the Company anticipates that it will continue to be negatively impacted by the COVID-19 pandemic for the foreseeable future, which will have an adverse effect on the Company’s sales, production, logistics and financials. The Company has adopted and will continue to implement strict COVID-19 precautionary measures at the mine site as well as in all of its offices in order to maintain operations in the normal course, while also complying with the advice or orders of local public health authorities. In order to further enhance its operational efficiencies, the Company has recently adopted a new flat management structure and has undertaken various improvements to its sales, logistics and production processes. The Company’s Management is confident that these changes will allow the Company to operate successfully during these difficult times and drive the Company forward. The Company remains cautiously optimistic regarding the Chinese coal market, as coal is still considered to be the primary energy source which China will continue to rely on in the foreseeable future. Coal supply and coal import in China are expected to be limited due to increasingly stringent requirements relating to environmental protection and safety production, which may result in volatile coal prices in China. The Company will continue to monitor and react proactively to the dynamic market. In the medium term, the Company will continue to adopt various strategies to enhance its product mix in order to maximize revenue, expand its customer base and sales network, improve logistics, optimize its operational cost structure and, most importantly, operate in a safe and socially responsible manner. The Company’s objectives for the medium term are as follows: Enhance product mix – The Company will focus on improving the product mix and increasing the production of higher quality coal by: (i) improving mining operations; (ii) washing lower quality coal in the Company’s coal wash plant and partnering with other nearby coal wash plant(s); (iii) resuming the construction and operation of the Company’s dry coal processing plant; and (iv) trading and blending different types of coal to produce blended coal products that are economical to the Company.Expand customer base – The Company will endeavor to increase sales volume and sales price by: (i) expanding its sales network and diversifying its customer base; (ii) increasing its coal logistics capacity to resolve the bottleneck in the distribution channel; and (iii) setting and adjusting the sales price based on a more market-oriented approach in order to maximize profit while maintaining sustainable long-term business relationships with customers. Optimize cost structure – The Company will aim to reduce its production costs and optimize its cost structure through engaging third party contract mining companies to enhance its operation efficiency, strengthening procurement management, ongoing training and productivity enhancement.Operate in a safe and socially responsible manner – The Company will continue to maintain the highest standards in health, safety and environmental performance and operate in a corporate socially responsible manner, and continue to strictly implement its COVID-19 precautionary measures at the mine site and across all offices. In the long term, the Company will continue to focus on creating and maximizing shareholders value by leveraging its key competitive strengths, including: Strategic location – The Ovoot Tolgoi Mine is located approximately 40km from China, which represents the Company’s main coal market. The Company has an infrastructure advantage, being approximately 50km from a major Chinese coal distribution terminal with rail connections to key coal markets in China. A large reserves base – The Ovoot Tolgoi Deposit has mineral reserves of more than 100 million tonnes. The Company also has several development options in its Zag Suuj coal deposit and Soumber coal deposit. Bridge between Mongolia and China – The Company is well positioned to capture the resulting business opportunities between China and Mongolia under the Belt and Road Initiative. The Company will seek potential strategic support from its two largest shareholders, which are both state-owned-enterprises in China, and its strong operational record for the past decade in Mongolia, being one of the largest enterprises and taxpayers in Mongolia. NON-IFRS FINANCIAL MEASURES Cash Costs The Company uses cash costs to describe its cash production and associated cash costs incurred in bringing the inventories to their present locations and conditions. Cash costs incorporate all production costs, which include direct and indirect costs of production, with the exception of idled mine asset costs and non-cash expenses which are excluded. Non-cash expenses include share-based compensation expense, impairment of coal stockpile inventories, depreciation and depletion of property, plant and equipment and mineral properties. The Company uses this performance measure to monitor its operating cash costs internally and believes this measure provides investors and analysts with useful information about the Company’s underlying cash costs of operations. The Company believes that conventional measures of performance prepared in accordance with IFRS do not fully illustrate the ability of its mining operations to generate cash flows. The Company reports cash costs on a sales basis. This performance measure is commonly utilized in the mining industry. Summarized Comprehensive Income Information (Expressed in thousands of USD, except for share and per share amounts) Three months ended March 31, 2021 2020 Revenue $ 28,064 $6,137 Cost of sales (18,347) (6,071)Gross profit 9,717 66 Other operating income/(expenses) (335) 470 Administration expenses (1,781) (1,771)Evaluation and exploration expenses (65) (56)Profit/(loss) from operations 7,536 (1,291) Finance costs (14,637) (7,135)Finance income 21,001 43 Share of earnings/(loss) of a joint venture 274 (46)Profit/(loss) before tax 14,174 - (8,429)Current income tax expense (1,120) (732)Net profit/(loss) attributable to equity holders of the Company 13,054 (9,161) Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods Exchange differences on translation of foreign operation (318) (2,437)Net comprehensive income/(loss) attributable to equity holders of the Company $ 12,736 $(11,598) Basic earnings/(loss) per share $ 0.05 $(0.03) Diluted earnings/(loss) per share $ 0.02 $(0.03) Summarized Financial Position Information(Expressed in thousands of USD) As at March 31, December 31, 2021 2020 Assets Current assets Cash and cash equivalents $ 13,622 $20,121 Restricted cash 1,217 918 Trade and other receivables 677 1,305 Inventories 48,733 42,383 Prepaid expenses 3,284 1,666 Total current assets 67,533 66,393 Non-current assets Property, plant and equipment 134,862 131,425 Inventories 471 680 Investment in a joint venture 16,112 16,134 Total non-current assets 151,445 148,239 Total assets $ 218,978 $214,632 Equity and liabilities Current liabilities Trade and other payables $ 79,453 $74,365 Deferred revenue 16,592 20,831 Interest-bearing borrowing - 2,826 Lease liabilities 124 202 Income tax payable 5,156 4,365 Current portion of convertible debenture - 181,411 Total current liabilities 101,325 284,000 Non-current liabilities Lease liabilities 376 424 Convertible debenture 174,207 - Decommissioning liability 6,571 6,445 Total non-current liabilities 181,154 6,869 Total liabilities 282,479 290,869 Equity Common shares 1,098,644 1,098,634 Share option reserve 52,692 52,702 Capital reserve 396 396 Exchange reserve (30,589) (30,271)Accumulated deficit (1,184,644) (1,197,698)Total deficiency in assets (63,501) (76,237) Total equity and liabilities $ 218,978 $214,632 Net current liabilities $ (33,792).$(217,607)Total assets less current liabilities $ 117,653 $(69,368) REVIEW OF INTERIM RESULTS The condensed consolidated interim financial statements for the Company for the three months ended March 31, 2021, were reviewed by the Audit Committee of the Company. The Company’s results for the quarter ended March 31, 2021, are contained in the unaudited Condensed Consolidated Interim Financial Statements and MD&A, available on the SEDAR website at www.sedar.com and the Company’s website at www.southgobi.com. ABOUT SOUTHGOBI SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licenses of its other metallurgical and thermal coal deposits in South Gobi Region of Mongolia. SouthGobi produces and sells coal to customers in China. Contact: Investor Relations Office:+852 2156 1438 (Hong Kong) +1 604 762 6783 (Canada)Email:info@southgobi.com Website:www.southgobi.com Forward-Looking Statements: Except for statements of fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, could, should, seek, likely, estimate and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements relate to management’s future outlook and anticipated events or results and are based on the opinions and estimates of management at the time the statements are made. Forward-looking statements in this press release include, but are not limited to, statements regarding: the Company continuing as a going concern and its ability to realize its assets and discharge its liabilities in the normal course of operations as they become due;adjustments to the amounts and classifications of assets and liabilities in the Company's condensed consolidated interim financial statements and the impact thereof;the Company’s expectations of sufficient liquidity and capital resources to meet its ongoing obligations and future contractual commitments, including the Company’s ability to settle its trade payables, to secure additional funding and to meet its obligations under each of the CIC Convertible Debenture, the 2020 November Deferral Agreement, and the Amended and Restated Cooperation Agreement, as the same become due;the Company's anticipated financing needs, development plans and future production levels;the Company entering into discussions with CIC regarding a potential debt restructuring plan with respect to the amounts owing to CIC;the results and impact of the Ontario class action (as described under section Regulatory Issues and Contingencies” of this press release under the heading entitled “Class Action Lawsuit);the estimates and assumptions included in the Company’s impairment analysis and the possible impact of changes thereof;the agreement with Ejin Jinda and the payments thereunder (as described under section Regulatory Issues and Contingencies” of this press release under the heading entitled “Toll Wash Plant Agreement with Ejin Jinda”);the ability of the Company to enhance the operational efficiency and output throughput of the washing facilities at Ovoot Tolgoi;the ability to enhance the product value by conducting coal processing and coal washing;the impact of the Company’s activities on the environment and actions taken for the purpose of mitigation of potential environmental impacts and planned focus on health, safety and environmental performance;the impact of the delays in the custom clearance process at the Ceke border on the Company’s operations and the restrictions established by Chinese authorities on the import of F-grade coal into China;the impact of the COVID-19 pandemic and the potential closure of Mongolia’s southern border with China on the Company’s business, financial condition and operations;the future demand for coal in China;future trends in the Chinese coal industry;the Company’s outlook and objectives for 2021 and beyond (as more particularly described under section “Outlook” of this press release); andother statements that are not historical facts. Forward-looking information is based on certain factors and assumptions described below and elsewhere in this press release, including, among other things: the current mine plan for the Ovoot Tolgoi mine; mining, production, construction and exploration activities at the Company’s mineral properties; the costs relating to anticipated capital expenditures; the capacity and future toll rate of the paved highway; plans for the progress of mining license application processes; mining methods; the Company's anticipated business activities, planned expenditures and corporate strategies; management’s business outlook, including the outlook for 2021 and beyond; currency exchange rates; operating, labour and fuel costs; the ability of the Company to raise additional financing; the anticipated royalties payable under Mongolia’s royalty regime; the future coal market conditions in China and the related impact on the Company’s margins and liquidity; the anticipated impact of the COVID-19 pandemic; the assumption that the border crossings with China will remain open for coal exports; the anticipated demand for the Company’s coal products; future coal prices, and the level of worldwide coal production. While the Company considers these assumptions to be reasonable based on the information currently available to it, they may prove to be incorrect. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include, among other things: the uncertain nature of mining activities, actual capital and operating costs exceeding management’s estimates; variations in mineral resource and mineral reserve estimates; failure of plant, equipment or processes to operate as anticipated; the possible impacts of changes in mine life, useful life or depreciation rates on depreciation expenses; risks associated with, or changes to regulatory requirements (including environmental regulations) and the ability to obtain all necessary regulatory approvals; the potential expansion of the list of licenses published by the Government of Mongolia covering areas in which exploration and mining are purportedly prohibited on certain of the Company's mining licenses; the Government of Mongolia designating any one or more of the Company’s mineral projects in Mongolia as a Mineral Deposit of Strategic Importance; the risk of continued delays in the custom clearance process at the Ceke border; the restrictions established by Chinese authorities on the import of F-grade coal into China; the risk that Mongolia’s southern borders with China will be subject of further closure; the negative impact of the COVID-19 pandemic on the demand for coal and the economy generally in China; the risk that the COVID-19 pandemic is not effectively controlled in China and Mongolia; the risk that the Company’s existing coal inventories are unable to sufficiently satisfy expected sales demand; the possible impact of changes to the inputs to the valuation model used to value the embedded derivatives in the CIC Convertible Debenture; the risk of the Company failing to successfully negotiate favorable repayment terms on the TRQ Reimbursable Amount (as described under section “Liquidity and Capital Resources” of this press release under the heading entitled “Liquidity and Capital Management – Costs Reimbursable to Turquoise Hill”); the risk of the Company or its subsidiaries defaulting under its existing debt obligations, including the CIC Convertible Debenture, 2020 November Deferral Agreement and the Amended and Restated Cooperation Agreement; the impact of amendments to, or the application of, the laws of Mongolia, China and other countries in which the Company carries on business; modifications to existing practices so as to comply with any future permit conditions that may be imposed by regulators; delays in obtaining approvals and lease renewals; the risk of fluctuations in coal prices and changes in China and world economic conditions; the outcome of the Class Action (as described under section “Regulatory Issues and Contingencies” of this press release under the heading entitled “Class Action Lawsuit”) and any damages payable by the Company as a result; the risk that the Company is unable to successfully negotiate a debt restructuring plan with respect to the amounts owing to CIC; the risk that the calculated sales price determined by the Company for the purposes of determining the amount of royalties payable to the Mongolian government is deemed as being “non-market” under Mongolian tax law; customer credit risk; cash flow and liquidity risks; risks relating to the Company’s decision to suspend activities relating to the development of the Ceke Logistics Park project, including the risk that its investment partner may initiate legal action against the Company for failing to comply with the underlying agreements governing project development; risks relating to the ability of the Company to enhance the operational efficiency and the output throughput of the washing facilities at Ovoot Tolgoi; the risk that the Company is unable to successfully negotiate an extension of the agreement with the third party contractor relating to the operation of the wash plant at the Ovoot Tolgoi mine site and risks relating to the Company’s ability to raise additional financing and to continue as a going concern. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. Due to assumptions, risks and uncertainties, including the assumptions, risks and uncertainties identified above and elsewhere in this press release, actual events may differ materially from current expectations. The Company uses forward-looking statements because it believes such statements provide useful information with respect to the currently expected future operations and financial performance of the Company, and cautions readers that the information may not be appropriate for other purposes. Except as required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release; they should not rely upon this information as of any other date. The English text of this press release shall prevail over the Chinese text in case of inconsistencies.

2021-05-14 - Yahoo! Finance: ELR.TO News

Eastern Platinum Limited Reports Results for the First Quarter of 2021 and Provides Operation Updates

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (Eastplats or the Company) is pleased to report that it has filed its condensed interim consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2021 (Q1 2021). Below is a summary of the Company's financial results for Q1 2021 (all amounts in USD) in comparison to the same period in 2020 (Q1 ...

2021-05-14 - Yahoo! Finance: HZM.TO News

Horizonte Minerals PLC Announces Q1 Financial Results

Quarterly Financial Results for the Three Months Ended 31 March 2021LONDON, UK / ACCESSWIRE / May 14, 2021 / Horizonte Minerals Plc, (AIM:HZM, TSX:HZM) ('Horizonte' or 'the Company') the nickel company focused on Brazil, announces its unaudited financial results for the three month period to 31 March 2021 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Company's website www.

2021-05-14 - Yahoo! Finance: BTO.TO News

B2Gold (TSE:BTO) Has A Rock Solid Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

2021-05-14 - MINING.COM

China EV makers’ targeting Western markets has ‘tremendous implications” for metal mix

New report says as Chinese automakers move into developed markets they bring with them cheaper nickel and cobalt-free batteries.

2021-05-14 - Yahoo! Finance: PAAS.TO News

Pan American Silver (PAAS) Q1 2021 Earnings Call Transcript

Image source: The Motley Fool. Pan American Silver (NASDAQ: PAAS)Q1 2021 Earnings CallMay 13, 2021, 11:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by.

2021-05-14 - Yahoo! Finance: APY.TO News

Could The Anglo Pacific Group plc (LON:APF) Ownership Structure Tell Us Something Useful?

A look at the shareholders of Anglo Pacific Group plc ( LON:APF ) can tell us which group is most powerful...

2021-05-14 - Yahoo! Finance: NZC.TO News

NorZinc Provides Results for First Quarter 2021

NorZinc Ltd. (TSX: NZC) (OTCQB: NORZF) (the Company or NorZinc) reports its interim financial results and development activities for the first quarter ended March 31, 2021. (Q1 2021). (All amounts are in Canadian dollars unless otherwise stated. M = million)

2021-05-14 - Yahoo! Finance: CEM.V News

Constantine Acquires Option on Bouse Property in Southwest Arizona, USA

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Constantine Metal Resources Ltd. (TSXV: CEM) (Constantine or the Company) is pleased to announce that it has signed a binding letter agreement (the Agreement) with a prospector to acquire an undivided 100% interest in 106 contiguous federal mining claims (886 hectares) that make up the Bouse copper-gold property (the Property), located in La Paz County Arizona, USA. The Property is located about 12 miles east-northeast ...

2021-05-13 - Yahoo! Finance: ARIC.V News

Awalė Resources - Completion of Financing

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2021-05-13 - Yahoo! Finance: LGD.TO News

Liberty Gold Reports Q1 2021 Financial and Operating Results

VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (Liberty Gold or the Company), is pleased to announce its financial and operating results for the three months ended March 31, 2021. All amounts are presented in United States dollars (“USD”) unless otherwise stated. Liberty Gold is focused on advancing a pipeline of Carlin-Style gold deposits in the Great Basin, U.S.A., a mining-friendly jurisdiction that is home to large-scale oxide gold systems ideal for open-pit heap leach mining. The Great Basin covers portions of the states of Nevada, Utah and Idaho. The Company has a proven track-record in discovery and building value in this region. HIGHLIGHTS: At Black Pine we announced the final results from 2020 metallurgical core drilling, highlights include1: D-3 zone: 1.23 grams per tonne (“g/t”) of gold (“Au”) over 24.1 metres (“m”), including 2.72 g/t Au over 2.3 m and including 3.39 g/t Au over 4.4 m in LBP231C.D-2 zone: 1.11 g/t Au over 21.7 m, including 1.58 g/t Au over 8.4 m, and 1.20 g/t Au over 3.9 m in LBP238C.E Pit: 0.71 g/t Au over 13.3 m, including 3.19 g/t Au over 5.1 m, and 4.31 g/t Au over 3.6 m in LBP242C.CD Pit: 0.57 g/t Au over 32.0 m, including 0.50 g/t Au over 11.3 m, and 0.36 g/t Au over 16.9 m in LBP251C. Received approval for an amendment to our Plan of Operations (“PoO”) allowing us to access additional strategic areas for drilling and an easement to a water well.2Released results from five large diameter core holes drilled to support phase 3 metallurgical column testing from the D-1, D-2 and D-3 zones include3: 3.32 g/t Au over 47.4 m, including 12.5 g/t Au over 5.8 m in LBP214C.3.62 g/t Au over 8.1 m and 1.27 g/t Au over 54.2 m, including 2.51 g/t Au over 17.0 m in LBP222C.1.12 g/t Au over 13.4 m and 3.16 g/t Au over 32.0 m in LBP207C.1.44 g/t Au over 16.5 m and 1.36 g/t Au over 15.2 m and 1.23 g/t Au over 7.6 m in LBP197C. At TV Tower we announced maiden resource estimates for five gold and copper deposits4 more than tripling the resource endowment. For more details see the news release titled “Liberty Gold Announces Maiden Resource Estimates for Five Gold and Copper Deposits at the TV Tower Project, Turkey” dated April 6, 2021. SELECTED FINANCIAL DATA The following selected financial data is derived from our unaudited condensed interim financial statements and related notes thereto (the “Interim Financial Statements”) for the three months ended March 31, 2021 as prepared in accordance with International Accounting Standards – IAS 34: Interim Financial Statements. A copy of the Interim Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com. The information in the tables below is presented in $000s except per share data: Three months ended March 31, 2021 2020Attributable to shareholders: Income (loss) for the period$4,978$354Income (loss) and comprehensive income (loss) for the period$4,708$1,464Basic and diluted income (loss) per share$0.02$0.00 As at March 31,As at December 31, 2021 2020Cash and short-term investments$17,556$16,832Working capital$18,894$17,977Total assets$60,042$60,394Current liabilities$5,608$6,007Non-current liabilities$2,644$2,137Shareholders’ equity$43,856$44,176 ABOUT LIBERTY GOLDLiberty Gold is focused on exploring the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. Our flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past-producing open-pit mines, where previous operators only scratched the surface. For more information, visit www.libertygold.ca or contact: Susie Bell, Manager, Investor RelationsPhone: 604-632-4677 or Toll Free 1-877-632-4677info@libertygold.ca All statements in this press release, other than statements of historical fact, are forward-looking information with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. Forward-looking information is often, but not always, identified by the use of words such as seek, anticipate, plan, continue, planned, expect, project, predict, potential, targeting, intends, believe, potential, and similar expressions, or describes a goal, or variation of such words and phrases or state that certain actions, events or results may, should, could, would, might or will be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, including any impacts due to the recent pandemic of the novel coronavirus (COVID-19), obtaining governmental approvals and any financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; including any restrictions due to the recent pandemic of the novel coronavirus (COVID-19), possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, or in the completion of exploration, as well as those factors discussed in the Annual Information Form of the Company dated March 26, 2021 in the section entitled Risk Factors, under Liberty Gold’s SEDAR profile at www.sedar.com. Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, 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 such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law. Cautionary Note for United States Investors The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC. 1 See news release dated April 26, 20212 See press release dated February 18, 2021.3 See press release dated January 12, 2021

2021-05-13 - Gran Colombia Gold Corporation Press Releases

Gran Colombia Announces First Quarter 2021 Results; Files National Instrument 43-101 Technical Report for Its Segovia Operations

2021-05-13 - Yahoo! Finance: PAAS.TO News

Pan American Silver Announces Results of Annual General and Special Meeting

Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (Pan American Silver or the Company) today reported the voting results from its annual general and special meeting of shareholders held May 12, 2021 in Vancouver, British Columbia (the Meeting). Each of the matters voted upon at the Meeting is described in detail in the Company's Management Information Circular dated March 22, 2021, which is available on the Company's website at panamericansilver.com.

2021-05-13 - Yahoo! Finance: NG.TO News

NOVAGOLD Announces Voting Results from 2021 Annual and Special Meeting of Shareholders

A total of 237,189,817 or 71.58% of the Company’s issued and outstanding shares were represented at the Company’s Annual and Special MeetingAll four proposals presented to shareholders were approvedDuring the 2021 proxy season, NOVAGOLD placed outreach calls to shareholders holding more than 90% of the Company’s issued and outstanding common shares entitled to vote VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Company”) (NYSE American, TSX: NG) is pleased to announce the detailed voting results on the items of business considered at its Annual and Special Meeting of Shareholders held virtually on May 12, 2021 (the “Meeting”). All proposals were approved and all ten director nominees were elected. A total of 237,189,817 or 71.58% of the Company’s issued and outstanding shares entitled to vote were represented at the Meeting. Shareholder Engagement During this year’s proxy outreach, NOVAGOLD engaged with shareholders owning 40,000 shares or more; thus contacting holders of approximately 90% of the Company’s issued and outstanding common shares entitled to vote at the Meeting. Year-over-year the input received from shareholders has helped shape and improve the Company’s practices in the area of corporate governance. Shareholder Voting Results The Shareholders voted on the following matters at this year’s Meeting: Proposal 1 – Election of Directors The nominees listed in NOVAGOLD’s Management Information Circular were elected as Directors of the Company. Detailed results of the votes are set out below: Proposal 1Outcome of theVote Votes by BallotElection of Directors For WithheldDr. Elaine Dorward-KingCarried205,642,112(94.71%)11,471,114(5.28%)Sharon DowdallCarried215,042,413(99.04%)2,070,813(0.95%)Dr. Diane GarrettCarried215,636,682(99.31%)1,476,544(0.68%)Dr. Thomas KaplanCarried215,361,591(99.19%)1,751,635(0.80%)Gregory LangCarried216,325,254(99.63%)787,972(0.36%)Igor LeventalCarried213,776,468(98.46%)3,336,758(1.53%)Kalidas MadhavpeddiCarried212,681,016(97.95%)4,432,210(2.04%)Clynton NaumanCarried214,523,577(98.80%)2,589,649(1.19%)Ethan SchuttCarried215,639,976(99.32%)1,473,250(0.67%)Anthony WalshCarried216,098,688(99.53%)1,014,538(0.46%) Proposal 2 – Appointment of Auditors The vote was carried for the Appointment of the Auditors, PricewaterhouseCoopers LLP. The votes cast were as follows: For234,513,13198.87%Withheld2,676,6861.12% Proposal 3 – Approval of Amendments to the Company’s Articles. The vote was carried on the amendments to Articles. The votes cast were as follows: For214,920,46498.99%Against1,600,7120.73%Abstentions592,0500.27% Proposal 4: Advisory Approval of Executive Compensation (“Say-on-Pay”) The vote was carried on the Say-On-Pay Advisory Vote. The votes cast were as follows: For209,570,57096.52%Against6,849,7143.15%Abstentions692,9420.31% Full details of all proposals are fully described in the Company’s Management Information Circular dated March 25, 2021 available on the Company’s website at www.novagold.com/investors/mic/, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov, and the detailed results of voting on each proposal are included in the Report of Voting Results filed on SEDAR and in an 8-K filed on EDGAR. A recording of the Meeting will be available on NOVAGOLD’s website for one year under Presentations. NOVAGOLD Contacts:Mélanie HennesseyVice President, Corporate Communications Jason MercierManager, Investor Relations 604-669-6227 or 1-866-669-6227

2021-05-13 - Yahoo! Finance: DIAM.TO News

Star Diamond Corporation Announces the Results of the 2021 Annual Meeting of Shareholders

Star Diamond Corporation (Star Diamond or the Corporation) is pleased to announce that all of the nominees listed in the management proxy circular dated March 30, 2021 were elected as directors of the Corporation at its annual meeting of shareholders held on May 13, 2021 (the Meeting).

2021-05-13 - Yahoo! Finance: PLAN.V News

Progressive Planet Announces Change of Chief Financial Officer

Progressive Planet Solutions Inc. (TSXV: PLAN) (PLAN or the Company), reports the appointment of Mr. Chris Halsey-Brandt, CPA, CA, CBV as CFO of the Company, replacing Mr. David Cross, CPA, CGA. The Company thanks Mr. Cross for his tenure as CFO since 2018.

2021-05-13 - Yahoo! Finance: PLAN.V News

Progressive Planet Announces Change of Chief Financial Officer

Progressive Planet Solutions Inc. (TSXV: PLAN) (PLAN or the Company), reports the appointment of Mr. Chris Halsey-Brandt, CPA, CA, CBV as CFO of the Company, replacing Mr. David Cross, CPA, CGA. The Company thanks Mr. Cross for his tenure as CFO since 2018.

2021-05-13 - Yahoo! Finance: UGD.V News

Unigold Updates Mineral Resource Estimate for the Candelones Project

Measured and Indicated (“M&I”) Resources of 24.0 M tonnes averaging 1.50 g/t Au containing 1,158,000 ozs Au (includes 91,000 ozs of oxide).Inferred Resources of 25.4 M tonnes averaging 1.34g/t Au containing 1,099,000 ozs. Au (includes 36,000 ozs of oxide).M&I Resource contains 2.5 million ounces of silver and 65.7 million pounds of copper; Inferred resource contains and additional 1.97 million ounces of silver and 45.9 million pounds of copper.66% conversion of historic inferred resource to M&I.310,000 ounces moved from underground into open-pit resource as compared to the historic 2013 estimate.Additional 200,000 ounces added to the open-pit resource from recent drilling as compared to the 2013 estimate. TORONTO, May 13, 2021 (GLOBE NEWSWIRE) -- Unigold Inc. (TSX.V: UGD, OTCQX: UGDIF) (Unigold or the Company) is pleased to announce an updated mineral resource estimate for the Candelones Project, part of the Company’s 100% owned Neita Concession in the Dominican Republic. The updated estimate shall be incorporated into the Preliminary Economic Assessment (“PEA”) currently being finalized by Micon International Limited (“Micon”) with a targeted release date of May 31, 2021. The resource estimate disclosed herein supercedes the estimate disclosed on April 26, 2021. The updated mineral resource was estimated by Mr. W. Lewis, P.Geo.; Mr. A. San Martin, MAusIMM (CP) and Mr. R. Gowans, P.Eng. of Micon. Micon is independent of Unigold and Messrs. Lewis, San Martin and Gowans meet the requirements of a “Qualified Person” as established by the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves (May, 2014). Joe Hamilton, Chairman and CEO of Unigold notes: “The delivery of this sulphide resource, in conjunction with the recent delivery of a PEA for our starter oxide project, fulfills a key step in our strategy to become a producer in the Dominican Republic. We have converted 66% of the existing resource at Candelones Extension to the measured and indicated classification and added approximately 20% to our available resource base. This estimate conforms to the 2019 CIM Best Practice Guidelines for Mineral Resource Estimation which requires, for the first time, the rigorous application of costing, engineering, mining and recovery assumptions to early stage resource calculations. “As compared to our historic 2013 mineral resource estimate, we have been successful in moving about 310,000 ounces from the underground classification into the pit constrained resource and added another 200,000 ounces of gold from new drilling. In addition, we have estimated the silver and copper resources for the first time. Silver and copper are principally contained with the higher-grade late-stage epithermal mineralization that we have been drilling since 2016. The sulphide resource at Candelones is open for expansion to the east, west and to depth. We continue to drill at Candelones and will use this resource estimate to inform our drilling as we move swiftly to convert the inferred mineralization to the measured and indicated category. “We are very encouraged by this estimate, and we are continuing with our oxide feasibility programs, sulphide metallurgical studies, permitting in the Dominican Republic and comprehensive community engagement activities. Drilling is currently focused on step out exploration to expand the near-surface mineralization to the east and west of this resource and on multi-element anomalies at Montazo, 1500 meters to the east.” The estimate is based on a total of 460 holes (114,000 meters) and includes 123 holes (36,000 meters) completed since 2015. Approximately 92% of the holes added to this estimate are infill holes completed at the Candelones Extension deposit. Six exploration holes, targeted to expand the resource along strike, were completed in time to be included in this estimate. Fifty percent of those holes intersected near surface mineralization. This recently discovered mineralization, including new oxide mineralization, has the potential to enhance available resources for both the oxides and sulphides at Candelones. Fifteen holes (5,600 meters) were excluded from this estimate as assay results were unavailable. The mineral resource estimate has been prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, November 29, 2019 and has an effective date of May 10, 2021. The key parameters supporting the mineral resource are summarized in Table 1.0. The mineral resource estimate for the oxide starter pit is summarized in Table 2.0. The mineral resource estimate of the sulphide mineralization is summarized in Table 3.0. The mineral resources disclosed herein shall be included in the Technical Report summarizing the Preliminary Economic Assessment of the Candelones Oxide Project which is currently in progress with an anticipated completion date of May 31, 2021. Table 1.0 –Summary of Key Economic Parameters Candelones ParametersOxides (PEA)SulphidesOxidesTransitionAu price $/oz$1,700 $1,700 $1,700 Ag price $/oz$20.00 $20.00 $20.00 Cu price $/lb$4.00 $4.00 $4.00 Au recovery80% 50% 84% Ag recovery 55% Cu recovery 87% Open Pit Mining Cost $/t$2.35 $3.61 $2.85 Mill Cost $/t$7.40 $7.40 $25.00 G&A Cost $/t$2.39 $2.39 $2.39 Open Pit Overall Cost $/t$12.14 $13.40 $30.24 Underground Mining Cost $/t $60.00 Underground Overall Cost $/t$69.79 $69.79 $87.39 Open Pit Au Cut-off g/t0.28 0.49 0.66 Au Eq. Cut-off g/t 0.65 Open Pit NSR Cut-off ($)$12.14 $13.40 $20.24 Underground Au Cut-off (g/t)1.6 2.55 1.9 Underground Au-Eq Cut-off (g/t)1.6 2.55 1.89 Underground NSR Cut-off ($)$69.79 $69.79 $77.39 Notes relating to Mineral Resource EstimatePit constrained resources are reported within an optimized pit shell; underground resources are reported within continuous and contiguous shapes which lie adjacent to and below the ultimate open pit shell and interpreted to be recoverable utilizing standard underground mining methods.The pit constrained resource is reported within an optimized pit shell that assumed a maximum slope angle of 45 degrees. Open pit mining recovery was assumed to be 100%. Open pit dilution was assumed to be 0%..Underground mining recovery was assumed to be 100%. Underground dilution was assumed to be 0%.Micon has not identified any legal, political, environmental or other risks that could materially affect the potential development of the mineral resource estimate.The mineral resource estimates are classified according to the CIM Standards which define a Mineral Resource as “a concentration or occurrence of solid material of economic interest in or on the earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge including sampling. Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. An inferred mineral resource has a lower level of confidence than an indicated mineral resource. An indicated mineral resource has a higher level of confidence than an inferred mineral resource but has a lower level of confidence than a measured mineral resource.The CIM Standards define an inferred mineral resource as: that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.All procedures, methodology and key assumptions supporting this mineral resource estimate shall be fully disclosed in a Technical Report that shall be available on SEDAR and the Company’s website within forty five (45) days of the effective date of the mineral resource estimate.The reader is reminded that mineral resources are not mineral reserves and therefore do not have demonstrated economic viability. Table 2.0 - PEA Oxide Resource Estimate – Effective Date May 10, 2021 Effective DateDepositMining MethodMineralization TypeCategoryTonnes (x1,000)Au g/tAu oz (x1,000)Strip RatioMay 10, 2021CMCOpen Pit (Starter) PEAOxide (Heap Leach)Measured1,8510.82490.13Indicated1,6160.8242Total Measured + Indicated3,4670.8291Oxide (Heap Leach)Inferred1,1540.622Transition (Heap Leach)4780.8713Total Inferred1,6320.6836 Table 3.0 – Summary Sulphide Resource Estimate – Effective Date May 10, 2021 Effective DateMining MethodCategoryNSR$ Cut-offTonnes (x1,000)AuEq g/tAu g/tAg g/tCu %AuEq oz (x1,000)Au oz (x1,000)Ag oz (x1,000)Cu lb (x1,000)Strip RatioMAY 10 2021Open PitMeasured206,2802.221.903.280.1844938366225,0426.24Indicated2013,0981.631.404.180.126885911,76234,201M+I2019,3781.821.563.890.141,1379742,42559,243Inferred2023,0421.521.352.590.091,1251,0041,91643,229UndergroundMeasured777593.152.651.880.297765464,836 Indicated773482.732.352.320.223126261,652M+I771,1073.022.562.020.2710791726,488Inferred777552.672.382.310.166558562,649Total Measured and Indicated20,4841.891.623.790.151,2441,0652,49765,731Total Inferred23,7971.551.392.580.091,1901,0631,97245,878 QA/QC Diamond drilling utilizes both HQ and NQ diameter tooling. Holes are established using HQ diameter tooling before reducing to NQ tooling to complete the hole. The core is received at the on-site logging facility where it is, photographed, logged for geotechnical and geological data and subjected to other physical tests including magnetic susceptibility and specific gravity analysis. Samples are identified, recorded, split by wet diamond saw, and half the core is sent for assay with the remaining half stored on site. A minimum sample length of 0.3 meters and a maximum sample length of 1.5 metres is employed with most samples averaging 1.0 meters in length except where geological contacts dictate. Certified standards and blanks are randomly inserted into the sample stream and constitute approximately 5-10% of the sample stream. Samples are shipped to a sample preparation facility in the Dominican Republic operated by Bureau Veritas. Assaying is performed at Bureau Veritas Commodities Canada Ltd.’s laboratory in Vancouver, B.C. Canada. All samples are analyzed for gold using a 50 gram lead collection fire assay fusion with an atomic adsorption finish. In addition, most samples are also assayed using a 36 element multi-acid ICP-ES analysis method. W. Lewis P.Geo., A. San Martin MAusIMM (CP) and R. Gowans, P.Eng of Micon have reviewed and approved the contents of this press release. Messrs. Lewis, San Martin and Gowans are unaware of any political, environmental or other risks that could materially affect the potential development of the mineral resource estimate. Wes Hanson P.Geo., Chief Operating Officer of Unigold has reviewed and approved the contents of this press release. About Unigold Inc. – Discovering Gold in the CaribbeanUnigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, the OTCQX exchange under the symbol UGDIF, and on the Frankfurt Stock Exchange under the symbol UGB1. The Company is focused primarily on exploring and developing its gold assets in the Dominican Republic. The Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabón province, in the northwest part of the Dominican Republic. The Candelones project area is about 20 kilometers south of the town of Restauraćion. The oxide deposit occurs at surface as a result of the tropical weathering of underlying mineralization. Unigold has been active in the Dominican Republic since 2002 and remains the most active exploration Company in the country. The Neita Fase II exploration concession is the largest single exploration concession covering volcanic rocks of the Cretaceous Tireo Formation. This island arc terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation Epithermal Systems and Copper-gold porphyry systems. Unigold has identified over 20 areas within the concession area that host surface expressions of gold systems. Unigold has been concentrating on the Candelones mineralization and continues to expand the deeper sulphide resources with on-going drilling. Forward-looking Statements Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like “strategy”, “expects”, “plans”, “believes”, “will”, “estimates”, “intends”, “projects”, “goals”, “targets”, and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this document are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbour for forward- looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CONTACT: For further information please visit www.unigoldinc.com or contact: Mr. Joseph Hamilton Chairman & CEO jhamilton@unigoldinc.com T. (416) 866-8157

2021-05-13 - The Northern Miner

Kirkland Lake Gold’s Detour Lake on course to be a world-class gold mine, says CEO Tony Makuch

Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) plans to transform its Detour Lake mine in northern Ontario into one of the world’s largest and...

The post Kirkland Lake Gold’s Detour Lake on course to be a world-class gold mine, says CEO Tony Makuch appeared first on The Northern Miner.

2021-05-13 - Yahoo! Finance: WPM.TO News

Wheaton Precious Metals Publishes 2020 Sustainability Report Highlighting Strong ESG Performance

Wheaton Precious Metals™ Corp. (Wheaton or the Company) is pleased to announce the publication of its 2020 Sustainability Report, a comprehensive disclosure outlining Wheaton's sustainability accomplishments and environmental, social and governance (ESG) performance. All amounts are in US dollars unless otherwise noted.

2021-05-13 - The Northern Miner

Analysts voice scepticism on supercycle narrative

Economists are tracking a broad economic recovery across the globe that appears to be gathering momentum and commodity prices are trading at healthy-to-stratospheric levels amid...

The post Analysts voice scepticism on supercycle narrative appeared first on The Northern Miner.

2021-05-13 - Yahoo! Finance: LIF.TO News

Labrador Iron Ore Royalty Corporation Announces Results of Election of Directors

Labrador Iron Ore Royalty Corporation (the Corporation) (TSX: LIF) announced the results of the election of directors at its annual and special meeting of holders of common shares held today by way of a virtual meeting.

2021-05-13 - Yahoo! Finance: SEA.TO News

Seabridge Gold Files First Quarter 2021 Financial Statements and MD&A

Toronto, Ontario--(Newsfile Corp. - May 13, 2021) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that it has filed its Interim Financial Statements and Management's Discussion and Analysis for the three months period ended March 31, 2021 on SEDAR (www.sedar.com). These statements, along with its recently filed 2020 Annual Report to shareholders, are also available on Seabridge's website at https://www.seabridgegold.com/investors/financial-reports. The theme of this year's Annual Report is Gold and Green which recognizes ...

2021-05-13 - MINING.COM

Mining majors are getting cheaper amid iron ore price rally

Slightly lower valuations may indicate shares still have upside.

2021-05-13 - Yahoo! Finance: BVA.V News

Bravada Begins In-fill and Exploration Drilling at the Wind Mountain Gold/Silver Project, Nevada; Updated Resource/PEA Planned Q1 2022

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the Company or Bravada) reports that it has commenced reverse-circulation drilling at the Company's 100% owned Wind Mountain gold/silver project in northwestern Nevada. The program will begin with approximately 1,400m of shallow in-fill holes within a higher-than-average grade portion of the existing oxide resource, which could evolve into a Phase I starter pit. Following the in-fill ...

2021-05-13 - The Northern Miner

Mountain Province taps Dunebridge for US$33M loan

Citing “serious financial difficulty,” Mountain Province Diamonds (TSX: MPVD) has again tapped its largest shareholder for a loan, this time adding a US$33 million term...

The post Mountain Province taps Dunebridge for US$33M loan appeared first on The Northern Miner.

2021-05-13 - MINING.COM

Mining stocks outpace tech gains but valuation gap remains Escondida-size

Despite hot metals markets the revenge of the miners, as Robert Friedland would have it, is still a dish best served cold.

2021-05-13 - Yahoo! Finance: FVAN.V News

First Vanadium Announces Second & Final Tranche Closing of $6,000,000 Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (First Vanadium or the Company) announces that further to its April 15, 2021 and May 6, 2021, news releases, it has now completed the second and final tranche (the Second Tranche) of its non-brokered private placement (the Offering). Under the Second Tranche, the Company has issued 1,346,000 units for gross proceeds of $538,400. No finder's ...

2021-05-13 - MINING.COM

China iron ore price plunges nearly 10% after a record-setting rally

The iron ore price surged to a record $237.57 per tonne in New York on Wednesday as strong Chinese demand continued to outpace supply, but analysts were not convinced the price run had legs.

2021-05-13 - MINING.COM

Copper production from top 10 companies to bounce back in 2021 – report

Output from the top 10 producers is expected to rise 3.8% following a marginal drop last year.

2021-05-13 - MINING.COM

PureGold mine enters final stages of ramp-up

The company anticipates declaring commercial production this quarter.

2021-05-13 - MINING.COM

KGHM to sell its smaller mines outside Poland

The company plans to reinvest the proceeds in its domestic operations.

2021-05-13 - Yahoo! Finance: AUMN.TO News

Golden Minerals Announces Intent to Adjourn 2021 Annual Meeting of Stockholders

GOLDEN, Colo., May 13, 2021 (GLOBE NEWSWIRE) -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) announced today that it intends to call to order and then immediately adjourn its virtual annual meeting of stockholders commencing Thursday May 13, 2021, at 1:00 p.m. Mountain Time. The adjournment of the virtual annual meeting of stockholders will be until 1:00 p.m. (Mountain Time) on June 10, 2021. No changes have been, or are expected to be, made to the record date or the proposals to be brought before the Annual Meeting, which are presented in the previously distributed proxy statement. The Company has decided to adjourn the virtual annual meeting in order to provide additional time to solicit proxies with respect to proposals presented to the stockholders for approval, specifically, the proposal to amend the Company’s certificate of incorporation to increase the Company’s authorized common stock from 200,000,000 to 350,000,000 shares (“Charter Amendment”). Although nearly 90% of the shares represented by proxies received to date have approved the Charter Amendment proposal, the number of votes in favor of the proposal has not yet reached a majority of the Company’s outstanding common stock, which is required for passage. The Company’s board recommends a vote in favor of the Charter Amendment for the reasons described in the proxy statement, including the need to have sufficient authorized common stock in order to permit the future issuance of common stock to support the growth and expansion of the Company’s business, including future acquisition of mining properties or other companies engaged in the mining business. Further information regarding the matters to be acted upon at the Annual Meeting is set forth in the proxy statement and other proxy materials for the Annual Meeting. The proxy statement and related materials are available at http://www.proxydocs.com/AUMN. Stockholders of record may submit their votes for matters to be considered at the annual meeting until the polls are formally closed. Stockholders who have already voted in accordance with the instructions contained in the proxy statement and related materials do not need to submit new proxy cards or give new voting instructions unless they wish to change their votes. Stockholders who have not yet voted can still use the proxy cards and voting instruction forms previously provided to them. The Company’s Board of Directors encourages all stockholders to review the proxy statement carefully before voting. About Golden Minerals Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on operations at its Rodeo property in Mexico, advancing its Velardeña property in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing mining properties in Mexico, Argentina, and Nevada. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding expectations surrounding the anticipated meeting date for the annual meeting. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. For additional information please visit http://www.goldenminerals.com/ or contact Golden Minerals CompanyKaren Winkler, Director of Investor Relations, (303) 839-5060SOURCE: Golden Minerals Company

2021-05-13 - The Northern Miner

Portugal may delay auction for lithium licenses to 2022

Portugal’s long-awaited auction of licenses to explore for lithium may have to wait until next year as the country faces some hurdles implementing a new...

The post Portugal may delay auction for lithium licenses to 2022 appeared first on The Northern Miner.

2021-05-13 - MINING.COM

Mountain Province taps Dunebridge for $33m loan

The short-term loan from Dunebridge will address the company’s short-term liquidity needs.

2021-05-13 - Yahoo! Finance: PAAS.TO News

Why Pan American Silver Stock Dropped Today

Shares of Pan American Silver (NASDAQ: PAAS) dropped almost 12% early Thursday, and remained down 10% as of 11:20 a.m. EDT. Pan American owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina, and Bolivia. The company specifically pointed to continued pandemic impacts in South America, as well as issues at its La Colorada mine in Mexico contributing to lower quarterly sales and production.

2021-05-13 - MINING.COM

Portugal may delay lithium licenses auction to 2022

Country has taken longer than expected implementing a new law that grants municipalities more say in mining projects.

2021-05-13 - The Northern Miner

Lundin Gold sees record production at Fruta del Norte

Canada’s Lundin Gold (TSX: LUG) has reported record gold production for the March quarter, which marked a year since its Fruta del Norte gold-silver mine in...

The post Lundin Gold sees record production at Fruta del Norte appeared first on The Northern Miner.

2021-05-13 - Deep-South Resources

Deep-South appoints Knight Piésold to produce scoping studies on the Haib Copper project in Namibia

Vancouver, B.C., Canada – May 13, 2021 – Deep-South Resources Inc. (Deep-South or “the Company) (TSX-V: DSM) today announced that it has appointed Knight Piésold Consulting to conduct scoping studies and assessments on the Haib Copper Project in Namibia. Knight Piésold has extensive experience in environmental, bulk water supply, power, and heap leaching projects in... Read more »

The post Deep-South appoints Knight Piésold to produce scoping studies on the Haib Copper project in Namibia appeared first on Deep-South Resources.

2021-05-13 - Yahoo! Finance: ASM.TO News

Avino Silver & Gold Mines Ltd. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Avino Silver & Gold Mines Ltd. (AMEX:ASM) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 13, 2021 at 12:00 PM Eastern Time.

2021-05-13 - Yahoo! Finance: QTA.V News

Quaterra Strengthens Management Team with Additions of CEO and President

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Quaterra Resources Inc. (OTCQB: QTRRF) (TSXV: QTA) (Quaterra or the Company) has announced the appointment, effective immediately, of Mr. Travis Naugle as CEO and Mr. Stephen Goodman as President. Mr. Naugle is a seasoned executive and officer in gold, copper and strategic & critical metals mining companies. He has led in the design, construction, and operation of mining projects in the U.S., Eurasia, Russia, and ...

2021-05-13 - Yahoo! Finance: TAJ.V News

Tajiri Intersects 2m @ 9.6g/t; 2m @ 9.0g/t; & 2m @ 8.0 g/t Au in Trenching Along Strike from Previously Announced 2m @ 61.8g/t

Tajiri Resources Corp. (the Company) (TSXV: TAJ) is pleased to announce continued excellence in the results from trench sampling at the Epeius Project Guyana, South America where trenching is investigating an area broadly on strike from ASX listed Troy Resource's Limited's Goldstar Prospect located on the southern boundary of the Project (Figure 1).

2021-05-13 - Yahoo! Finance: PAAS.TO News

Pan American Silver (PAAS) Earnings & Sales Miss Estimates in Q1

Pan American Silver (PAAS) Q1 results impacted by inventory build-up and lower production due to COVID-19 pandemic.

2021-05-13 - Yahoo! Finance: MPVD.TO News

Mountain Province Diamonds, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Mountain Province Diamonds, Inc. (OTC PINK:MPVDF) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 13, 2021 at 11:00 AM Eastern Time.

2021-05-13 - Yahoo! Finance: PAAS.TO News

Pan American Silver Corp. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Pan American Silver Corp. (NASDAQ:PAAS) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 13, 2021 at 11:00 AM Eastern Time.

2021-05-13 - MINING.COM

First large-scale, offshore wind project in the US gets greenlight

The Vineyard Wind project is expected to generate 30 gigawatts of energy from offshore wind by 2030, enough power for 400,000 homes.

2021-05-13 - Yahoo! Finance: APN.V News

Altiplano Finalizes New Maria Luisa Agreement for 100% Ownership

Edmonton, Alberta--(Newsfile Corp. - May 13, 2021) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (Altiplano or the Company) is pleased to announce that it has entered into a new arm's-length option agreement (the Agreement) on the Maria Luisa project (the Property), whereby the Company may acquire a 100% undivided interest in the Property for a total acquisition cost of US$2,000,000 over three years. This Agreement replaces the current revenue sharing agreement on ...

2021-05-13 - Yahoo! Finance: FTT.TO News

Finning Reports on Voting Results from its Annual and Special Meeting of Shareholders

VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- Finning International Inc. (TSX: FTT) (“Finning” or the “Company”) announces the voting results from its Annual and Special Meeting of Shareholders held on Tuesday, May 11, 2021 in Vancouver, British Columbia. A total of 130,325,757 common shares were represented at the Meeting, representing 80.25% of the Company’s outstanding shares as at the record date. Shareholders voted in favour of all items of business before the Meeting, including the appointment of auditors with authorization of the directors to fix the auditors’ remuneration, acceptance of the Company’s approach to executive compensation, approval of the Company’s amended and restated By-Law No. 1, approval of the Company’s amended and restated Advance Notice By-Law and the election of each of the directors. Detailed results of the ballot vote for the election of directors are provided below: Director NomineeVotes forPercent%Votes WithheldPercent%Vicki Avril-Groves129,959,57099.98%30,7930.02%James E.C. Carter125,216,15396.33%4,774,2103.67%Jacynthe Côté129,475,92399.60%514,4400.40%Nicholas Hartery126,760,62897.52%3,229,7352.48%Mary Lou Kelley129,454,60399.59%535,7600.41%Andrés Kuhlmann128,784,10999.07%1,206,2540.93%Harold N. Kvisle128,422,50898.79%1,567,8551.21%Stuart L. Levenick128,239,25298.65%1,751,1111.35%Kathleen M. O’Neill124,784,76696.00%5,205,5974.00%Christopher W. Patterson129,069,68599.29%920,6780.71%Edward R. Seraphim129,959,19499.98%31,1690.02%L. Scott Thomson128,871,66899.14%1,118,6950.86% CONTACT INFORMATION:CONTACT INFORMATION:Investor RelationsMedia and Government RelationsAmanda HobsonElisha McCallumSVP Investor Relations & TreasuryDirector, Global Communications(604) 331-4934(778) 668-0185Amanda.hobson@finning.comelisha.mccallum@finning.comwww.finning.comwww.finning.com ABOUT FINNING:Finning International Inc. is the world’s largest Caterpillar equipment dealer delivering unrivalled service to customers for 85 years. Finning sells, rents and provides parts and service for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.

2021-05-13 - MINING.COM

NRCan supports mining literacy

Projects aim to develop a national mining career awareness strategy, and to engage youth in the mining sector.

2021-05-13 - Yahoo! Finance: OR.TO News

Osisko Announces Election of Directors and Other Voting Results From Its Annual Meeting of Shareholders

MONTREAL, May 13, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) announces that, at the annual meeting of shareholders held on May 12, 2021, each of the 9 nominees listed in the management information circular, filed on April 8, 2021 (the “Circular”) with regulatory authorities, were elected as directors of the Corporation. Election of Directors Based on the proxies received and the votes by ballot, the following individuals were elected as directors of the Corporation until the next annual shareholders’ meeting, with the following results: RESOLUTION No 1Name of NomineeVotes castFORPercentage (%)of votes castFORVotesWITHHELDPercentage (%)WITHHELDThe Honorable John R. Baird119,147,28199.70361,9560.30Christopher C. Curfman118,461,58799.121,047,6500.88Joanne Ferstman111,401,50793.228,107,7306.78W. Murray John111,963,66093.697,545,5776.31Pierre Labbé118,005,33498.741,503,9031.26Candace MacGibbon117,035,91697.932,473,3212.07Charles E. Page119,324,31799.85184,9200.15Sean Roosen116,817,05597.752,692,1822.25Sandeep Singh119,330,05699.85179,1810.15 Appointment and Remuneration of Auditor Based on the proxies received and the votes by ballot, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration, with the following results: RESOLUTION No 2Votes castFORPercentage (%)of votes castFORVotesWITHHELDPercentage (%)WITHHELDAppointment and Remuneration of Auditor131,564,01399.74341,8140.26 Approval of the Unallocated Rights and Entitlements under the Employee Share Purchase Plan Based on the proxies received and the votes by ballot with respect to the adoption of an ordinary resolution to approve the unallocated rights and entitlements under the Employee Share Purchase Plan, the results are as follows: RESOLUTION No 3Votes castFORPercentage (%)of votes castFORVotes castAGAINSTPercentage (%)AGAINSTOrdinary Resolution to approve the unallocated rights and entitlements under the Employee Share Purchase Plan118,910,25399.50598,9840.50 Approval of Amendments to the Restricted Share Unit Plan and Approval of the Unallocated Rights and Entitlements under the plan Based on the proxies received and the votes by ballot with respect to the adoption of an ordinary resolution to approve the amendments to the Restricted Share Unit Plan and approve the unallocated rights and entitlements under the plan, the results are as follows: RESOLUTION No 4Votes castFORPercentage (%)of votes castFORVotes castAGAINSTPercentage (%)AGAINSTOrdinary Resolution to approve the amendments to Restricted Share Unit Plan and approve the unallocated rights and entitlements under the plan117,944,03298.691,565,2041.31 Advisory Resolution on Executive Compensation Based on the proxies received and the votes by ballot with respect to the adoption of an advisory resolution accepting the Corporation’s approach to executive compensation, the results are as follows: RESOLUTION No 5Votes castFORPercentage (%)of votes castFORVotes castAGAINSTPercentage (%)AGAINSTAdvisory Resolution on Executive Compensation116,861,07497.782,648,1642.22 About Osisko Gold Royalties Ltd Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko’s head office is located at 1100 Avenue des Canadiens-de Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact Osisko Gold Royalties Ltd: Heather TaylorVice President, Investor RelationsTel. (514) 940-0670 #105Email : htaylor@osiskogr.com

2021-05-13 - Yahoo! Finance: FRE.V News

Fremont Announces Management Changes

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR2) (Fremont or the Company) announces the resignation of Blaine Monaghan as President and CEO of the Company, effective immediately. The Board thanks Mr. Monaghan for his efforts.Dennis Moore, has agreed to assume the role of CEO on an interim basis, effective immediately. Mr. Moore is the Company's President, and is one of the founders of Fremont ...

2021-05-13 - Yahoo! Finance: WHM.V News

White Metal 3D-IP Geophysical Survey Correlates with New Ellen Zone Gold Discovery and Provides Multiple Targets for Phase 2 Drilling Program at Tower Stock Gold Project, Ontario

Thunder Bay, Ontario--(Newsfile Corp. - May 13, 2021) - White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) (White Metal or the Company) is pleased to report that it has received the final report in regards to the DasVision 3D Induced Polarization (IP) survey completed by Abitibi Geophysics (Abitibi) on the Tower Stock Gold Project (the Property or the Project). The Property, which until now has not seen any exploration activity for more than eight ...

2021-05-13 - Yahoo! Finance: JADE.V News

Jade Leader Posts New Sky Jade(c) Test Product Video

CALGARY, AB / ACCESSWIRE / May 13, 2021 / Jade Leader Corp. (TSXV:JADE) (Jade Leader or the Company) is pleased to announce updates of both its photo and video galleries (www.

2021-05-13 - Yahoo! Finance: BEX.V News

Benton and Buchans Announce Expanded JV and 2021 Field Program on Long Range Gold JV, Central Newfoundland

Thunder Bay, Ontario--(Newsfile Corp. - May 13, 2021) - Benton Resources Inc. (TSXV: BEX) (Benton or the Company) is pleased to announce the expansion of its Long Range Gold JV project in central Newfoundland. The Long Range project, a 51:49 per cent Joint Venture between Buchans Minerals Corporation (Buchans) and Benton (jointly the Companies), has been expanded from 3,750 hectares to 11,050 hectares through the recent acquisition of additional properties covering multiple early-stage gold ...

2021-05-13 - Yahoo! Finance: FRE.V News

Citigroup (C) Fails to Recover Accidental Revlon Transfer

Citigroup (C) faces yet another failure in recouping funds mistakenly transferred to Revlon's creditors.

2021-05-13 - Yahoo! Finance: WDO.TO News

Wesdome Gold Mines Ltd. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Wesdome Gold Mines Ltd. (OTC PINK:WDOFF) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 13, 2021 at 10:00 AM Eastern Time.

2021-05-13 - Yahoo! Finance: OGD.TO News

Orbit Garant Drilling, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Orbit Garant Drilling, Inc. (OTC PINK:OBGRF) will be discussing their earnings results in their 2021 Third Quarter Earnings call to be held on May 13, 2021 at 10:00 AM Eastern Time.

2021-05-13 - Yahoo! Finance: RMK.V News

Red Moon Proposes Name Change and Renewable Energy Storage Spinout

RMK Property Holdings Map RMK Property Holdings Map ST. JOHN’S, Newfoundland and Labrador, May 13, 2021 (GLOBE NEWSWIRE) -- Red Moon Resources Inc. (the “Company” or “Red Moon” - TSXV: RMK) is pleased to provide the following corporate update: Highlights: Red Moon will be proposing a name change, to be presented to shareholders at a special AGM slated for July, 2021;The name change will better reflect the Company’s core business (potential supplier of high-grade salt for North American de-icing markets) as it advances its Great Atlantic Salt Project in western Newfoundland through the Feasibility Stage;To create a pure North American salt focus and unlock the value of other assets within the Company to the maximum benefit of shareholders, Red Moon is weighing various strategic options beginning with a planned spinout of “Fischell’s Brook”;The Fischell’s Brook asset will underpin Red Moon’s spinout of a renewable energy storage company that could also benefit from recent advancements in compressed air energy storage (CAES) technology. Renewable Energy Storage Energy storage is a key component to deliver clean energy transition. One established method is to utilize underground storage caverns constructed in salt domes that can store energy produced from renewable sources and released when needed. With climate change and associated green environmental policies driving significant investment toward alternate energy sources and global carbon emission reduction, underground storage will play an important role in Canada’s energy future. The Government of Canada recently developed and published a “Hydrogen Strategy for Canada” (https://www.nrcan.gc.ca/climate-change/the-hydrogen-strategy/23080) in which it predicted: “With worldwide demand for hydrogen increasing, the global market could reach over $11 trillion by 2050. Each region of Canada can utilize their unique resources to produce and deploy hydrogen domestically as well as to supply a growing export market. Based on their existing country strategies, demand potential, and proximity, Europe, Asia, and the United States have been identified as potential export markets for Canadian clean hydrogen. Implementing the Hydrogen Strategy can spark early economic recovery, lead to a $50 billion domestic hydrogen sector, and generate more than 350,000 high paying jobs from coast to coast.” Fischell’s Brook In October 2019 Red Moon reported that pursuant to a “Request For Proposals On The Fischell’s Brook Salt Property Exempt Mineral Land” issued by the Government of Newfoundland and Labrador, the Company was the successful bidder and was awarded the mineral rights to Fischell’s Brook which hosts a large salt dome situated approximately 15 kilometers south of the Great Atlantic salt deposit. The acquisition of this asset was very timely given the recent developments in the rapidly expanding global energy storage market. As a result, the Company has also recently added 300 claims or 75 sq. km to its landholdings in the general vicinity of Fischell’s Brook to cover other strategic ground that has storage potential. Unlike Great Atlantic, which is a homogenous and relatively shallow high-purity salt deposit, Fischell’s Brook is considered a salt dome-type deposit. Based on technical work filed with the provincial government by previous operators, six holes targeting this salt dome have been drilled on the area covered by the Company’s licenses. Four holes penetrated gross salt thicknesses exceeding 400 meters including up to 764 meters in Hooker #1 to a depth of 1,099 meters. These four holes all terminated in salt and encompass an area exceeding 2.25 square kilometers, providing large potential storage cavern volume. Storage caverns are created in a salt dome by drilling into the structure and circulating water, which dissolves the salt. The leftover brine is then removed, leaving a cost-effective storage cavity. Red Moon is carrying out a detailed compilation of all previous work and data related to this salt dome. Storage of air and fluids in salt domes is well established technology. Given the location of the Fischell’s Brook salt dome in western Newfoundland, Red Moon is investigating all of it options in regard to its storage potential including possible synergies with a hydrogen project. The Fischell’s Brook salt dome also has potential as a compressed air energy storage (CAES) “battery” that could act as a store of electricity to balance the load of other sources of electrical generation. In its simplest sense, CAES allows for the storage of compressed air underground utilizing excess electrical power in the compression stage. When the “stored power” is needed, the compressed air is released into power generating turbines. This technology is currently in use and is undergoing rapid development to maximize its efficiency. Mr. Patrick Laracy, Red Moon CEO, commented: “Developments in the energy storage space have been dramatic since we were the successful bidder for the Fischell’s Brook salt dome. Just like Red Moon was born out of a spinout, we see a great opportunity to launch a dynamic energy storage project anchored by the Fischell’s Brook asset.” A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c48cf55-10de-431e-9992-7a0e4f882420 Qualified Person Patrick J. Laracy, P.Geo, and CEO is the Qualified Person responsible for the contents of this news release as defined in National Instrument 43-101. About Red Moon Resources Red Moon Resources Inc. is an emerging commodities leader in Atlantic Canada, focused on Newfoundland and Labrador, with 100% ownership of the Great Atlantic salt deposit in addition to a producing gypsum mine, an early-stage nepheline discovery, and strategic ground covering the Fischell’s Brook salt dome and other nearby potential underground storage opportunities. For information, please contact: Patrick J. Laracy, CEOMarketSmart Communications Inc.(709) 754-3186Adrian Sydenhamlaracy@redmoonresources.comToll-free: 1-877-261-4466RedMoonResources.comEmail: info@marketsmart.ca Not for release in the United States or to U.S. newswire services The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.

2021-05-13 - Yahoo! Finance: NAR.V News

North Arrow Announces Drill Program at Loki Diamond Project, NWT and $605,000 Flow Through Private Placement

VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or “the Company”) is pleased to announce plans for a June 2021 drill program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories. The program will utilize a Hornet reverse circulation (RC) drill to test recently defined gravity targets in the north Loki area (see North Arrow news release dated March 9, 2021). The targets are located at the up-ice termination of a prominent and unsourced regional kimberlite indicator mineral anomaly that forms part of what has historically been known as the South Coppermine Train. Drilling is expected to start on or around June 10th and run for approximately 10 to 14 days. North Arrow has also arranged a non-brokered private placement of up to 5,500,000 units priced at $0.11 per unit (the “Units”) for gross proceeds of approximately $605,000. Each Unit will consist of a single flow-through common share of the Company (each a “Flow-Through Share”) and one half of one transferable non-flow-through common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional non-flow-through common share of the Company at a price of $0.18 for a period of two years following closing of the private placement. It is anticipated that insiders of North Arrow will participate in the private placement on the terms described herein. Proceeds from the private placement will be used to advance North Arrow’s Canadian diamond projects including the upcoming drilling program at the Loki Project. North Arrow intends to use the gross proceeds from the Flow-Through Shares for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)), with the Company using its best efforts to ensure that an amount equal to such proceeds will be used to incur Canadian exploration expenses related to North Arrow’s exploration projects. The Company will renounce such Canadian exploration expenses with an effective date of no later than December 31, 2021. North Arrow may pay finders fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued in the private placement will be subject to a statutory four month hold period. Closing of the private placement is subject to negotiation and execution of definitive documentation and receipt of all regulatory approvals including approval of the TSX Venture Exchange. About the Loki project The Loki Project is located approximately 40 km west, and 35 km southwest of the Diavik and Ekati diamond mines, respectively, and immediately west of North Arrow’s LDG Joint Venture Diamond Project with Arctic Canadian Diamond Company. Five kimberlites have been discovered within the project area, all of which have been confirmed as diamond bearing. Previous drilling and ground geophysical surveys of the property were supported, in part, by a grant from the Northwest Territories Mining Incentive Program. The Loki Diamond Project exploration program is managed by Michael MacMorran, P.Geo. (NWT/NU), Project Geologist of North Arrow. North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU and ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. MacMorran and Mr. Armstrong have reviewed and approve the technical contents of this press release. About North Arrow Minerals North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the global diamond industry. North Arrow’s most advanced diamond project is the Q1-4 diamond deposit at the Naujaat Project (NU), where funding is in place for a $5.6M 2,000 tonne bulk sample in 2021. The Company has also discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects and is evaluating and exploring for additional kimberlites at the Loki and LDG JV Projects (NWT). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of Agnico Eagle’s Doris Gold Mine. North Arrow Minerals Inc. /s/ “Kenneth A. Armstrong”Kenneth ArmstrongPresident and CEO For further information, please contact:Ken Armstrong Tel: 604-668-8355 or 604-668-8354Website: www.northarrowminerals.com Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow 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. 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. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

2021-05-13 - Yahoo! Finance: SRI.V News

Sparton Resources Inc. Announces 2021 Summer Project Work Programs - Copper Poly Metallic Project Evaluation

TORONTO, May 13, 2021 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV.SRI) (Sparton or the Company) announced the beginning of the 2021 field programs in Ontario and Québec, and detailed evaluation of a new poly metallic project in Ontario. BRUELL PROJECT FIELD PROGRAM VAL D’OR EAST, QUEBEC Eldorado Gold has initiated field work at Bruell and will continue the comprehensive till / soil survey started in 2020 that will complete coverage of the entire 51 claim property group. The 2020 program consisted of an orientation survey comprising 8 samples, and an additional 27 widely spaced samples were taken generally in the areas south and east from the Avocalon / Aurora shaft area and Area A where Sparton discovered several new gold mineralized zones in its 2018 drill program. (see Sparton News Release dated May 28, 2018). The 2021 work will provide complete coverage over the entire claim area. Eldorado will also complete detailed geological mapping of the property and may begin a drill program in the fall of 2021. The planned budget for Bruell expenditures in 2021 is $400,000. OAKES PROJECT AREA The Company plans a comprehensive surface prospecting and trenching program to gain additional information into the mineralizing system tested in the old shaft area. The detailed magnetic survey completed over the entire 41 claim area indicates several major structures that appear to be related to known mineralization and these will be prospected in detail and old trenches associated with them will be reopened and sampled. Prospecting in 2020 located angular boulders of mineralized green carbonate rock in the southern part of the claim area which yielded anomalous gold values. Detailed work will take place in this area as similar material occurs at the west end of open pit previously mined at the nearby Young Davidson Mine. Any favourable zones located by this work will be drill tested later this year. COPPER – POLY METALLIC PROJECT The Company has executed an exclusive agreement for one year to do a detailed evaluation of a property hosting an existing copper deposit contiguous to Sparton’s claim holdings in the Oakes Project area. Previously, one zone on the property was reported, effective May 2008, to host a NI 43-101 compliant drill indicated mineral resource containing 5.97 million tonnes grading 0.34%copper, 0.04% molybdenum, 5.9 grams per tonne silver and 0.10 grams per tonne gold. This report was prepared as: NI 43-101 Technical Report On The “South Zone”, Ryan Lake Property, Powell Township Ontario” by Buss Services Inc. This resource is open to expansion at depth and along strike. Other zones of base metal and gold mineralization are known on the property which have not been tested in detail. The Company plans to undertake a comprehensive technical data review of information available. CAUTIONARY NOTE It should be noted that historical results reported here for the Copper Property might be considered Historical Estimates under current NI 43-101 nomenclature, the Company believes the historical data to be reliable and has reviewed them in detail. More work needs to be done however, to verify these historical results. Further, a qualified person under NI 43-101 has not recently done sufficient work to verify the historical results with new sampling and analyses. Because most of the original samples and drill core used for the previous calculations are however available for re-analysis and testing, these will be used as part of the evaluation work by the Company. ABOUT THE COMPANY Sparton is a mineral exploration company currently focused on exploring gold projects near producing mines on or near the major gold producing trends in eastern Ontario and western Québec where it holds interests in two exploration prospects. The Bruell Property in Québec, which hosts a new gold discovery, has been optioned to Eldorado Gold, which owns the nearby producing Lamaque Mine. Eldorado is planning an extensive work program during 2021 with possible drilling late in the year. The Oakes Gold Property and nearby Poly Metallic Copper Property in Ontario are the current focus of the Company’s exploration work program and are in close proximity to Alamos Gold’s producing Young Davidson Mine. Sparton also holds an interest in VRB Energy Inc., a leading vanadium battery company that is currently private and has recently announced a contract for a 1 gigawatt storage system linked to a major new solar installation in Hubei Province China. A. Lee. Barker M.A.Sc., P. Eng., is the Qualified Person under NI 43-101 responsible for the technical information in this news release. He has reviewed all available data for the project discussed here and approved the contents of this news release. For more information contact:A. Lee Barker, M.A Sc., P. Eng.,President and CEOTel./Fax: 647-344-7734 or Mobile: 416-716-5762Email: info@spartonres.ca Website:www.spartonres.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking StatementsInformation set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. We Seek Safe Harbour

2021-05-13 - Yahoo! Finance: BOL.V News

Bold Ventures Announces Non-Brokered Private Placement

Newswire Services or for dissemination in the United StatesTORONTO, ON / ACCESSWIRE / May 13, 2021 / Bold Ventures Inc. (TSXV:BOL) (the Company or Bold) is pleased to announce a non-brokered private placement offering of up to 3,750,000 working capital units (the WC Units) of the Company at a price of $0.

2021-05-13 - Yahoo! Finance: SCZ.V News

Santacruz Silver Reports Q1 2021 Production of 706,978 Silver Equivalent Ounces

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the Company or Santacruz) reports its operating results from the Zimapan Mine located in Zimapan, Hidalgo, Mexico and the Rosario Project located in Charcas, San Luis Potosi, Mexico, for the first quarter 2021 (Q1). The Company is not including production from the Veta Grande Project in this report as operations at Veta Grande were suspended during Q1 ...

2021-05-13 - Yahoo! Finance: CDB.V News

Cordoba Minerals Provides Update on Pre-Feasibility Study Work at the 100%-Owned Alacran Copper-Gold-Silver Project

Metallurgical Test Results Indicate Strong Recoveries for Copper and Gold; Potential to Accelerate Feasibility Study Drilling Vancouver, British Columbia--(Newsfile Corp. - May 13, 2021) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise Cordoba or the Company) is pleased to provide an update on the ongoing Pre-Feasibility Study (PFS) work at its 100%-owned Alacran Copper-Gold-Silver Project.Highlights:Diamond drilling in support of the PFS is ongoing; this includes geotechnical, ...

2021-05-13 - Yahoo! Finance: LR.V News

Luminex Announces Upcoming Drill Program at the Nayumbi Gold-Silver Discovery

Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the Company or Luminex) is pleased to announce the discovery and planned drilling of the Company's Nayumbi target at its Condor project. The target is an epithermal gold-silver anomaly located in the southern part of the Condor project claim block (Figure 1). Recent rock chip samples from historic mine workings at Nayumbi returned high gold and silver grades, up to 80.5 g/t gold and 14.4 g/t silver. Widespread hydrothermal brecciation, epithermal veining and alteration was identified by Luminex geologists.

2021-05-13 - Yahoo! Finance: MGR.V News

Magna Gold Secures $10 M in Funding with Founding and Strategic Shareholder to Accelerate Exploration Across 6 Assets

Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) (Magna or the Company) is pleased to announce a non-brokered private placement of CAD$10,000,000 secured convertible debentures (the Debentures) with Delbrook Capital Advisors Inc. (Delbrook) on behalf of funds managed by Delbrook. The Debentures mature in 24 months from issuance and bear interest at a rate of 6.5% per year. The principal amount of the Debentures is convertible, at the election of Delbrook, into common shares of the Company at a conversion price of CAD$1.25 per common share, representing a 35.5% premium to the 10-day VWAP. The interest on the Debentures is convertible at the election of Delbrook into either cash or common shares of the Company based on the closing price on the day prior to the applicable interest payment date and will be paid in full, including in the event of early conversion. The Company will pay Delbrook a 1.25% arrangement fee on closing of the private placement. The private placement, which received approval by Magna's board of directors on May 11, 2021, is subject to the approval of the TSX Venture Exchange.

2021-05-13 - Yahoo! Finance: KTN.V News

Kootenay Intercepts 2,176 gpt Silver Equivalent Over 1.18 Meters Within a Wider Interval of 399 gpt Silver Equivalent Over 10.5 Meters at Copalito Silver-Gold Project, Mexico

Kootenay Silver Inc. (TSXV: KTN) (the Company or Kootenay) is pleased to announce results for the first four holes completed from the 2021 drill program at the Copalito silver-gold project (the Property), located in Sinaloa State, Mexico.

2021-05-13 - Yahoo! Finance: KTO.V News

K2 Discovers Significant New Gold Zone at Mojave and Provides Update on Permitting

K2 Gold Corporation (K2 or the Company) (TSXV: KTO) (OTCQB: KTGDF) (FRANKFURT: 23K) is pleased to report preliminary results from its 2021 Exploration Program from the Company's Mojave project in Southern California. A total of 279 prospecting chip and grab samples were collected on the Mojave's Eastern Target Area: Gold Valley, Dragonfly, Remi, Newmont, and Flores. Individual assays for the samples returned up to 23.4 g/t gold and highlights include:

2021-05-13 - Yahoo! Finance: EDR.TO News

Message to Shareholders from Daniel Dickson, Newly Appointed Chief Executive Officer of Endeavour Silver Corp.

VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to share the following letter to shareholders from newly appointed Chief Executive Officer, Daniel Dickson. Dear Shareholders: For almost 20 years, Endeavour Silver has created new opportunities and navigated challenges with innovative thinking, which has transformed us into the company we are today. As I assume the role of Chief Executive Officer, I am keen to build on these strengths while focusing on continued profitability, safety performance and fostering our internal culture aligned with increasingly important ESG principles. Digging deeper in solid ground Looking back upon our company’s journey – to which I have proudly contributed since 2007 when I first joined as Endeavour’s Controller, then CFO – there is much to admire. Our perseverance and accomplishments have shone through, as we introduced many ‘firsts’ at our Guanaceví mine, followed by our acquisition of Bolañitos in 2007 and El Cubo in 2012. We became one of the fastest growing silver producers during the 2004-2012 precious metals bull market. Through new discoveries, organic growth and strategic acquisitions, we expanded our business. Terronera is our next flagship asset that will strengthen our foundation and fuel our long-term growth. We plan to complete the feasibility study this summer, which should lead to a development decision for what should become our largest and lowest cost mine. Next steps for Q3, 2021 are to announce accretive project financing and break ground on construction. Simultaneously, we are drilling at our portfolio of exploration projects in Mexico and Chile to generate long term value through high impact discoveries. Strong values drive us forward Although 2020 was a year of global uncertainty, it also reaffirmed the strength of Endeavour’s well-established values. Under the direction of our founders, Brad Cooke and Godfrey Walton, we have always upheld ESG as core to our business. We developed trusted relationships with local stakeholders, and designed health, educational and environmental outreach programs to benefit our shared environment and local communities. The COVID-19 pandemic illustrated the importance of this approach, as we worked to support community resilience and prioritize the health of our employees and communities. Despite challenging conditions, we fortified our commitment to these priorities by implementing the “Te Cuido/I Take Care of You” safety training program and achieved our safety performance targets last year. We also introduced our ICARE Values program, to clearly articulate the company’s underlying culture and bring to life “The Endeavour Way” to current and future team-members. Delivering on profitability The past year also highlighted our ability to meet scrutiny through the financial lens. In a period of transformation, we completed the transition from old mines to new mines and recorded profitability for the first time in two years. This is a testament to our operations group’s ability to meet and surmount the most difficult challenges. Now, with a current USD$1 billion market capitalization, a strengthened balance sheet, and with results from operations growing our cash balance, we are poised for future growth. Inflationary pressures on costs are inevitable, but we believe the culture we’ve established will contribute to innovative solutions to optimize our cash flows going forward. Bright future for Endeavour Silver When one combines Endeavour’s strengths with current market conditions, our future is bright. With a global scarcity of silver dominant assets, Endeavour offers a significant competitive advantage with our industry-leading beta to silver price and with 60 per cent of our anticipated 2021 revenue mix attributable to silver. As we grow, we will maintain our majority silver profile. as the metals mix at Terronera is 60% silver and Parral is almost 100% silver. Recent M&A activity in our sector confirms the difficulty in finding pure silver investment vehicles, amidst a bullish global backdrop due to negative interest rates, inflation concerns and sovereign debt. And, with silver’s role as a ‘green metal,’ as the world transitions to lower carbon technologies, we anticipate continued positive investor demand for silver that exceeds global mine supply. These factors all bode well, for both the price of silver and for Endeavour shareholders. Beyond the numbers, I want to acknowledge the essential role played by former CEO Bradford Cooke, now Executive Chair, my long-time friend and mentor, who led our organization to the enviable place we are today. Brad has demonstrated outstanding vision and passion, which inspired our shared drive for Endeavour’s success. I look forward to Brad’s guidance as Executive Chair, together with the continuous support of our exceptional leadership team. Of particular note is Christine West, who assumes my position as CFO after skillfully supporting our company since 2008. She is an invaluable member of the management team, who brings experience and perspective to our finance and accounting functions. Today, I am honoured to contribute my experience in overseeing Endeavour’s finances, and begin steering the company forward, focused on safe production, profitable operations and a strong culture. With our favourable outlook for silver’s fundamentals, I believe that the patience of our investors will be rewarded, and I look forward to building a strong future together in the years ahead. Sincerely, Daniel (Dan) Dickson, Chief Executive OfficerMay 13, 2021 About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information Galina Meleger, Director Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: gmeleger@edrsilver.comWebsite: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2021 including development of mineral properties, changes in mining operations and production levels, the timing and results of various activities and the impact of the COVID 19 pandemic on operations. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

2021-05-13 - MINING.COM

Lundin Gold sees record production at Fruta del Norte

The Canadian miner churned out 104,137 ounces of gold in Q1, which marked a year since it began commercial operations.

2021-05-13 - Yahoo! Finance: PGM.V News

PureGold Reports High-Grade Production as Mine Enters Final Stages of Ramp-Up

VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to provide an operations update for its high-grade PureGold Mine in Red Lake, Ontario. With the milling facility ramp-up completed in the first quarter, the Company’s focus for the second quarter has shifted to ramping up high-grade ore production from the mine. Quarter-to-date, head grades have significantly increased compared to the first quarter and continue to trend positively, achieving an average of 6.3 g/t Au over the last three weeks. Metallurgical recoveries continue to be exceptional, ranging between 95-99% year-to-date. Ore production rates are expected to continue to increase toward design capacity of 800 tonnes per day with the goal of achieving and sustaining that rate by mid-year. Production Highlights for the Three-Week Period from April 20 – May 10, 2021 6.3 g/t Au average processed head grade9,637 tonnes of ore milled97.5% gold recovery rate1,908 ounces of gold produced459 tonnes per day processed on average Darin Labrenz, President & CEO of PureGold, commented, “The ramp-up of the PureGold Mine has gone exceptionally well during the second quarter. As we continue to open up the mine and access the heart of the deposit, we are seeing the mine show its high-grade nature, as expected. Our most recently mined stope yielded an average head grade of 10.0 g/t Au including a peak daily head grade of 13.1 g/t Au and provided mill feed for multiple consecutive days setting single-day and multi-day production records. These high grades remind us of how special this orebody is and of the world-class potential Red Lake deposits are known for. Our focus for the balance of the second quarter will be on ramping up ore production from the mine to design capacity.” He continued, “We currently have 17 stopes designed and ready for development over the next three months, representing approximately 70,000 tonnes of ore with an estimated average grade of 6.0-7.0 g/t Au, in line with expected grades from the feasibility study.1 We are currently active in 17 headings at various phases of development and expect that number to increase to 26 by the end of the quarter. With the first stopes expected to be developed in the East Ramp area in the coming weeks, we will soon have two active haulage ways to support increased ore production for the remainder of 2021 and beyond. We are targeting an ore production rate of 500-600 tonnes per day for the month of May and are expecting to achieve feasibility design capacity of 800 tonnes per day on a sustainable basis by mid-year. With the mine entering the final stages of ramp-up and commercial production imminent, our long-term goal of combining world-class exploration potential with a cash flowing mine is becoming very real. It is an exciting time for PureGold.” Mining UpdateDuring the first six weeks of the second quarter, mining has generally progressed from stopes on the periphery of the orebody into the higher-grade heart of the orebody. Additionally, as access to a greater number of production areas has been established including areas accessible via the East Ramp, stope availability and scheduling flexibility have improved significantly compared to the first quarter. External dilution issues related to overbreak encountered in the first longhole stopes mined in the first quarter have been resolved. As expected, non-mineralized dykes have not been a significant issue in any stopes since the first quarter. Production for the first six weeks of the second quarter totaled 18,546 tonnes of ore and 2,855 ounces of gold recovered, inclusive of a four-day mill shutdown for planned maintenance in mid-April. High-grade ore production highlights in the second quarter to date include stope MV04-1347 which returned 3,813 tonnes grading 10.2 g/t Au on average, and stope MV03-1360 which returned 1,363 tonnes grading 7.3 g/t Au on average.2 These stopes are in the heart of the orebody and are reconciling in line with the Company’s expectations. Ramp DevelopmentThe Company is accelerating development of both the Main Ramp and the East Ramp main haulage ways for the remainder of 2021. Proceeds from the recently closed $17.3 million equity offering, which included $1.5 million subscribed for by the Board and Senior Management, will primarily be deployed to accelerate the development of these two ramps and should enhance near-term mine flexibility, provide earlier access to higher grade mining zones including the ultra high-grade 8 Zone, and position the mine for potential expansions beyond 800 tpd in the future. Processing UpdateThe milling facility has continued to operate exceptionally well throughout the first six weeks of the second quarter. Recoveries have exceeded feasibility expectations, averaging 96.6% for the first six weeks of the quarter and 97.5% for the three-week period from April 20 – May 10, 2021. Since reaching nameplate capacity in March 2021, throughput has been reduced to align with the rate of ore production from the mine as the mine continues to ramp-up. Interstage screens for the CIP tanks and a trommel screen for the SAG discharge are currently in transit and are now expected to be installed in early July which will further enhance operational stability and will position the milling facility for potential expansions beyond 800 tpd in the future. Financial UpdateAs of May 12, 2021, the Company held approximately $23 million in cash. The Company has drawn US$77.5 million to date on its credit facility with Sprott Resource Lending and expects another US$7.1 million principal to be made available as a result of the proceeds raised in the bought-deal equity offering closed May 5, 2021. The Company’s financial statements for the quarter ended March 31, 2021 will be available on May 14, 2021. Commercial ProductionThe Company currently anticipates declaring commercial production at or near the end of the second quarter, based on its ongoing assessment of both ore throughput and gold production. Inaugural production and cost guidance for the balance of 2021 will follow shortly thereafter. Qualified Persons and 43-101 DisclosureKen Donner, P. Eng., Vice President, Operations for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. About Pure Gold Mining Inc.PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return. Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.comAverage grades for stopes are determined by averaging all muck samples from the stope. Individual muck samples in excess of 100 g/t gold were cut back to 100 g/t gold. ON BEHALF OF THE BOARDDarin Labrenz Darin Labrenz, President & CEO Investor inquiries: Adrian O’Brien, Director, Marketing and CommunicationsTel: 604-809-6890aobrien@puregoldmining.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All statements in this press release, other than statements of historical fact, are forward-looking information with respect to PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Mine complex, timing of expected production, potential for accelerating development of the two main ramps, potential for advancing the amount and timing for higher grade ore, potential for additional resources and expansion of known deposits and potential for making new discoveries and the focus of the Company in the coming months . Forward-looking information is often, but not always, identified by the use of words such as seek, anticipate, plan, continue, planned, expect, project, predict, potential, targeting, intends, believe, potential, and similar expressions, or describes a goal, or variation of such words and phrases or state that certain actions, events or results may, should, could, would, might or will be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of PureGold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results at the Pure Gold Red Lake Mine complex; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration and development activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 31, 2021 in the section entitled Risk Factors, under PureGold’s SEDAR profile at www.sedar.com. Although PureGold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, 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 such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. PureGold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

2021-05-13 - Yahoo! Finance: PTU.V News

Purepoint Uranium Provides Overview of Red Willow Project Targets for Upcoming Diamond Drill Program

Purepoint Uranium Group Inc. (TSXV: PTU) (Purepoint or the Company) today provided an overview of the exploration targets scheduled to be initially drill tested on its 100%-owned Red Willow project in the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. By far, the Company's largest project, Red Willow is located close to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

2021-05-13 - Yahoo! Finance: EDV.TO News

Endeavour Mining Corp. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Endeavour Mining Corp. (OTC PINK:EDVMF) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 13, 2021 at 8:30 AM Eastern Time.

2021-05-13 - Yahoo! Finance: COG.TO News

Results of Annual General Meeting (“AGM”)

SURREY, UK / ACCESSWIRE / May 13, 2021 / Condor (AIM:CNR; TSX:COG) is pleased to announce that at the Company's AGM held earlier today, all resolutions were passed.- Ends -For further information please visit www.

2021-05-13 - Yahoo! Finance: EDV.TO News

Endeavour Reports Strong Q1-2021 Results

ENDEAVOUR REPORTS STRONG Q1-2021 RESULTSProduction up 102% l AISC down 3% l CFPS pre-WC up 48% l Adjusted EPS up 111% Q1-2021 HIGHLIGHTS Strong Q1-2021 performance with production up +102% over Q1-2020 to 347koz, while AISC decreased by 3% to $868/oz Well positioned to meet FY-2021 guidance of 1,365-1,495koz at AISC of $850-900/oz following successful integration of Teranga assetsAdjusted Net Earnings up $78m over Q1-2020 to $105m; up 111% on a per share basis to $0.50/sh Operating Cash Flow before working capital up $170m over Q1-2020 to $265m; up 47% on a per share basis to $1.28/shHealthy balance sheet at quarter-end with a net debt to adjusted LTM EBITDA ratio of 0.16x, reflecting the consolidation of Teranga debt Strong focus on shareholder returns with first dividend of $60m paid on February 5, 2021, and $13m of shares repurchased post the quarter-endOrganic growth on track with construction of Sabodala-Massawa Phase 1 expansion on schedule for completion by year-end; DFS underway for Sabodala-Massawa Phase 2 expansion, Fetekro, and Kalana projects George Town, May 13, 2021 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) ('Endeavour' or the 'Group' or the 'Company') is pleased to announce its financial and operating results for the first quarter of 2021, with highlights provided in Table 1 below. Management will host a conference call and webcast on Thursday May 13, at 8:30am Toronto time (ET) to discuss the Company's Q1-2021 financial and operating results. For instructions on how to participate please refer to page 17. Table 1: Consolidated Highlights1 In US$ million unless otherwise specified. THREE MONTHS ENDED March 31, 2021 December 31, 2020 March 31, 2020 Δ Q1-2021 vs. Q1-2020 PRODUCTION AND AISC Gold Production, koz 347 344 172 +102% All-in Sustaining Cost2, $/oz 868 803 899 (3)% CASH FLOW FROM CONTINUING OPERATIONS3 Operating Cash Flow Before Non-Cash Working Capital 265 297 95 +178% Operating Cash Flow Before Non-Cash Working Capital2, $/share 1.28 1.82 0.86 +48% Operating Cash Flow 207 384 100 +107% Operating Cash Flow2, $/share 0.99 2.36 0.90 +10% PROFITABILITY FROM CONTINUING OPERATIONS3 EBITDA2 335 227 102 +229% Adjusted EBITDA2 311 297 107 +191% Net Earnings/(loss) Attributable to Shareholders2 95 66 19 +389% Net Earnings per Share2, $/share 0.46 0.40 0.18 +160% Adjusted Net Earnings Attributable to Shareholders2 105 164 26 +298% Adjusted Net Earnings per Share2, $/share 0.50 1.00 0.24 +111% SHAREHOLDER RETURNS Dividends paid 60 — — n.a. Share buyback (commenced in Q2-2021) — — — n.a. FINANCIAL POSITION HIGHLIGHT Net Debt/(Net Cash)2 162 (75) 473 (66)% Net (Cash)/Debt / Adjusted EBITDA (LTM) ratio2 0.16 (0.09) 1.06 (85)% 1All amounts include Teranga assets from February 10, 2021 2This is a non-GAAP measure. Refer to the non-GAAP measure section of the MD&A. 3From Continuing Operations excludes the Agbaou mine which was divested on March 1, 2021. Sebastien de Montessus, President and CEO, commented: “Over the past twelve months we have significantly transformed our company into a resilient business capable of rewarding our shareholders through the cycle. This quarter's strong performance demonstrates the quality of our enhanced portfolio of operating mines, following the successful integration of the Teranga assets within our business. Moreover, we are pleased to report significant increases in our per share metrics. The combined portfolio is on track to meet its FY-2021 guidance and deliver strong cash flows, bolstering our balance sheet and providing the flexibility to advance our exciting organic growth opportunities while continuing to reward shareholders through our dividend and share buyback programs. From a capital markets perspective, we remain on track to obtain our premium listing on the London Stock Exchange in June, which we expect to broaden our appeal to a wider pool of investor capital, whilst benefiting from the projected increase in indexation demand. We look forward to continuing to build on the progress we have made throughout the remainder of this year.” UPCOMING CATALYSTS The key upcoming expected catalysts are summarized in the table below. Table 2: Key Upcoming Catalysts TIMING CATALYST Q2-2021 Corporate Capital markets virtual teach-in event ahead of UK lisiting Q2-2021 Corporate Premium LSE Listing Q3-2021 Afema Initial resource estimate Q3-2021 Sabodala-Massawa Exploration update Q3-2021 Exploration 5-year exploration strategy Q4-2021 Sabodala-Massawa Completion of Phase 1 plant upgrades Q4-2021 Sabodala-Massawa Completion of Definitive Feasibility Study for Phase 2 Q4-2021 Fetekro Completion of Definitive Feasibility Study Q1-2021 SUMMARY Continued strong safety record for the Group, with a significantly below average Lost Time Injury Frequency Rate (“LTIFR”) of 0.14 for the rolling twelve months ending March 31, 2021.The acquisition of Teranga Gold was completed on February 10, 2021 and as such the Wahgnion and Sabodala-Massawa assets have been consolidated into the financial statements from this date. The sale of Endeavour's non-core Agbaou mine closed on March 1, 2021, and as such it has been classified as a discontinued operation.As shown in the tables below, the Group is well positioned to meet its full year 2021 production guidance of 1,365-1,495koz at an AISC of $850-900/oz, following the strong performance in Q1-2021 and the successful integration of the Teranga assets, which will be fully reflected in Q2-2021. Table 3: Consolidated Group Production THREE MONTHS ENDED 2021 FULL YEAR GUIDANCE March 31, 2021 December 31, 2020 March 31, 2020 (All amounts in koz, on a 100% basis) Sabodala-Massawa1 39 — — 310 — 330 Houndé 66 101 56 240 — 260 Ity 71 61 61 230 — 250 Boungou 60 64 — 180 — 200 Mana 52 61 — 170 — 190 Wahgnion1 25 — — 140 — 155 Karma 22 28 28 80 — 90 PRODUCTION FROM CONTINUING OPERATIONS 334 315 144 1,350 — 1,475 Agbaou2 13 28 27 15 — 20 GROUP PRODUCTION 347 344 172 1,365 — 1,495 1Included for the post acquisition period commencing February 10, 2021. 2Divested on March 1, 2021. Table 4: Consolidated All-In Sustaining Costs1 (All amounts in US$/oz) THREE MONTHS ENDED 2021 FULL YEAR GUIDANCE March 31, 2021 December 31, 2020 March 31, 2020 Sabodala-Massawa2 749 — — 690 — 740 Houndé 839 612 1,076 855 — 905 Ity 786 1,054 651 800 — 850 Boungou 690 532 — 690 — 740 Mana 954 802 — 975 — 1,050 Wahgnion2 780 — — 940 — 990 Karma 1,179 1,132 866 1,220 — 1,300 Corporate G&A 31 20 19 30 Sustaining exploration — — — 5 AISC FROM CONTINUING OPERATIONS 858 779 890 840 — 890 Agbaou3 1,131 1,066 951 1,050 — 1,125 GROUP AISC 868 803 899 850 — 900 1This is a non-GAAP measure. 2Included for the post acquisition period commencing February 10, 2021. 3Divested on March 1, 2021. CASH FLOW BASED ON ALL-IN MARGIN APPROACH The table below presents the cash flow for Endeavour for the three month period ending March 31, 2021, based on the All-In Margin, with accompanying notes below. Table 5: Reconciliation of All-In Margin to Free Cash Flow1 THREE MONTHS ENDED In US$ million unless otherwise specified. Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 GOLD PRODUCTION, koz 334 315 144 GOLD SOLD, koz (Note 1) 364 301 147 Realized gold price, $/oz (Note 2) 1,749 1,841 1,538 REVENUE 636 553 226 Total cash costs1 (Note 3) (273) (210) (112) Corporate costs (11) (8) (5) Sustaining capital1 (Note 4) (28) (16) (14) ALL-IN SUSTAINING MARGIN FROM CONTINUING OPERATIONS 324 319 95 All-in Sustaining Margin from discontinued operations1 10 22 18 ALL-IN SUSTAINING MARGIN1 333 341 113 Less: Non-sustaining capital1 (Note 5) (57) (39) (18) Less: Non-sustaining exploration1 (Note 6) (6) (23) (15) ALL-IN MARGIN1 270 278 80 Growth projects1 (Note 7) (23) (4) (2) Exploration expense2 (10) (1) (1) Changes in working capital, other non-cash changes (Note 8) (86) 35 10 Interest paid (Note 9) (9) (6) (11) Taxes paid (Note 10) (43) (47) (9) Other operating cash flow changes (Note 11) (12) 4 (1) FREE CASH FLOW1 87 261 66 Acquisition and restructuring costs (Note 12) (12) (14) (4) Cash flows generated from/(used in) investing activities, excluding expenditures on mining interests3 (Note 13) 9 (13) (3) Cash flows generated from/(used in) financing activities, excluding interest paid4 (Note 14) 119 (39) 111 Cash flows used in financing activities by discontinued operations (Note 15) (45) (8) 0 Effect of exchange rate changes on cash (4) 4 (1) CASH INFLOW (OUTFLOW) FOR THE PERIOD 154 191 167 1This is a non-GAAP measure. Refer to the non-GAAP measure section of the MD&A.2Exploration expense per the statement of comprehensive (loss)/earnings. This cash outflow relates to expenditure on greenfield exploration activity.3Investing activities excluding expenditures on mining interests consists of the investing cash flows from continuing operations less expenditures on mining interests, as disclosed in the consolidated statement of cash flows.4Financing activities excluding interest paid consists of the financing cash flows from continuing operations less interest paid, as disclosed in the consolidated statement of cash flows. NOTES: 1) Gold sales increased by 63koz in Q1-2021 compared to Q4-2020 due to the addition of the newly acquired Sabodala-Massawa and Wahgnion mines and by 190koz compared to Q1-2020 as a result of the SEMAFO and Teranga acquisitions. 2) The realized gold price for Q1-2021 was $1,749/oz compared to $1,841/oz for Q4-2020 and $1,538/oz for Q1-2020, inclusive of the Sabodala-Massawa and Karma streams. The Sabodala-Massawa stream amounted to 1,567 ounces on a consolidated basis in Q1-2021. The Karma stream amounted to 3,333 ounces in Q1-2021. The Company completed the delivery of 100,000 ounces of gold from the Karma mine as at March 31, 2021. Going forward, the Karma stream will be reduced to 6.5% of gold production. Both streams result in the Company being paid at 20% of the spot gold price for gold subject to the stream. 3) Total cash costs increased in Q1-2021 compared to Q4-2020 due to increased production, while cash costs increased compared to Q1-2020 due to both increased production and higher royalty costs. 4) As shown in the table below, sustaining capital expenditure from continuing operations increased by $23/oz in Q1-2021 compared to Q4-2020, amounting to $28 million which represents 16% of the FY-2021 guided amount of $172 million. The increase, on a per ounce basis compared to Q4-2020, is attributable to the consolidation of the Sabodala-Massawa mine (which incurred high unit sustaining capital costs related to waste capitalization and heavy mining equipment purchases), while increases at Ity and Boungou were partially offset by a decrease at Houndé. Further details by asset are provided in the mine sections below. Table 6: Consolidated Sustaining Capital In US$ million unless otherwise specified. THREE MONTHS ENDED Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 Ity 5 3 1 Karma 0 1 1 Houndé 5 7 12 Mana 3 3 n.a. Boungou 4 1 n.a. Sabodala-Massawa 10 n.a. n.a. Wahgnion 1 n.a. n.a. Sustaining capital from continuing operations 28 16 14 5) As shown in the table below, the total non-sustaining capital expenditure from continuing operations increased in Q1-2021 over Q4-2020 mainly due to the addition of the Teranga assets and the expected increase at Houndé, Mana and Boungou. The $57 million spent in Q1-2021 represents 28% of the FY-2021 guided amount of $201 million, with expenditures expected to be more weighted towards H1-2021. Further details by asset are provided in the mine sections below. Table 7: Non-Sustaining Capital In US$ million unless otherwise specified. THREE MONTHS ENDED Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 Ity 12 12 11 Karma 1 3 2 Houndé 7 5 2 Mana 24 18 n.a. Boungou 4 1 n.a. Sabodala-Massawa 5 n.a. n.a. Wahgnion 4 n.a. n.a. Non-mining 0 1 3 Consolidated non-sustaining capital 57 39 18 Agbaou 0 0 0 Total non-sustaining capital from all operations 57 39 18 6) The non-sustaining exploration capital spend decreased by $17 million over Q4-2020 and by $9 million over Q1-2020 to $6 million, as a greater portion of the spend was classified as expensed. Exploration drilling is expected to ramp-up in Q2-2021 to take advantage of the dry season.7) Q1-2021 includes $19.6 million for the purchase of an additional stake in the Fetekro property as announced on December 21, 2020, $0.5 million for the Sabodala-Massawa expansion project and $2.8 million on Kalana.8) The tables below summarize the Q1-2021 working capital movements. Table 8: Working Capital Movement THREE MONTHS ENDED In US$ million unless otherwise specified. Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 Q1-2021 comments Trade and other receivables (16) +35 (8) Outflow mainly due to an increase in VAT receivables at Karma, Houndé, Wahgnion and Mana. VAT received during Q1-2021 was $11 million made up of Wahgnion mine $3 million, Houndé mine $7 million and Karma mine $1 million. Trade and other payables (48) +48 +2 Outflow mainly related to payments made at Ity, as well as acquisition related costs paid in relation to the Teranga acquisition. Inventories +19 +4 +12 Inflow primarily due to the decrease in inventory stockpiles, GIC and finished gold balances at Boungou, Karma, Ity, Mana and Wahgnion which were largely offset by increase in stockpile balance at Houndé and Sabodala-Massawa. Prepaid expenses and other (13) — (1) Outflow mainly due to an increase in prepayments at Boungou of $3 million, Mana of $8 million and Wahgnion and Sabodala-Massawa of $2 million offset by reduction in prepaid expenses at Houndé by $1 million. Other non-cash adjustments (27) (51) +5 Non-cash adjustments relate to the amortization of the PPA fair value bump on inventories. Total (86) +35 +10 9) Interest paid increased by $3 million in Q1-2021 compared to Q4-2020, as the convertible bond semi-annual coupon is paid in the first and third quarter of each year. 10) Taxes paid from all operations decreased by $3 million in Q1-2021 compared to Q4-2020 and increased by $35 million compared to Q1-2020, with details shown in the table below. Notably, taxes paid from the discontinued Agbaou mine increased by $19 million due to the withholding tax payable on the dividend which was declared in Q4-2020. Table 9: Tax Payments THREE MONTHS ENDED In US$ million unless otherwise specified. Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 Karma 0 0 0 Ity 6 0 0 Houndé 4 3 6 Mana 0 1 n.a. Boungou 1 0 n.a. Sabodala-Massawa 6 n.a. n.a. Wahgnion 0 n.a. n.a. Exploration 0 0 0 Corporate 6 4 1 Taxes from continuing operations 23 8 7 Agbaou 20 39 2 Consolidated taxes paid 43 47 9 11) Other operating cash flow changes is the sum of cash paid on settlement of DSUs and PSUs, cash paid on settlement of other financial assets and liabilities, and foreign exchange gain/loss as disclosed in the consolidated statement of cash flows.12) Amounts relate mainly to M&A and advisory fees for the SEMAFO and Teranga acquisitions. In addition, $40 million of acquisition costs were incurred by Teranga prior to the closing of the transaction.13) Other cash flows from investing activities in Q1-2021 comprised of $27 million of cash acquired upon acquisition of Teranga, $14 million of outflows related to an increase in long term inventory, and the net cash consideration received relating to the disposal of the Agbaou mine of $5 million at the closing of the sale14) Other financing cash flows include the proceeds from the private placement of $200 million, dividends paid in the quarter of $60 million, and the net draw down of the corporate loan facilities of $47 million after the repayment of the debt facilities acquired from Teranga. Further notes are provided in Note 21 below.15) Cash flows from discontinued operations relate to the Agbaou mine which was sold on March 1, 2021. The cash outflows in Q1-2021 relate to the payment of a dividend to the minority shareholder which was declared in December 2020. NET CASH FLOW AND LIQUIDITY SOURCES Endeavour's balance sheet remains healthy with Net Debt / Adjusted EBITDA (LTM) of 0.16x at quarter-end, with a Net Debt balance of $162 million despite absorbing approximately $332 million of Net Debt from Teranga. Along with the completion of the Teranga acquisition on February 10, 2021, Endeavour closed a $800 million corporate loan facility refinancing. The refinancing proceeds were used to retire Teranga’s various higher cost debt facilities amounting to $359 million and to settle Teranga’s gold off-take agreement for an amount of $50 million. The table below summarizes operating, investing, and financing activities, key balance sheet items and the resulting impact on the Company’s Net Debt position, with notes provided below. Table 10: Cash Flow and Net Debt Position for Endeavour THREE MONTHS ENDED In US$ million unless otherwise specified Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 Net cash from (used in), as per cash flow statement: Operating activities (Note 19) 198 364 126 Investing activities (Note 20) (105) (97) (57) Financing activities (Note 21) 65 (80) 100 Effect of exchange rate changes on cash (4) 4 (1) INCREASE/(DECREASE) IN CASH 154 191 167 Cash position at beginning of period 715 523 190 CASH POSITION AT END OF PERIOD (Note 22) 868 645 357 Cash included in assets held for sale 0 70 0 Equipment financing (Note 23) 0 0 (70) Convertible senior bond (Note 24) (330) (330) (330) Drawn portion of corporate loan facility (Note 25) (700) (310) (430) NET DEBT/ (CASH) POSITION (Note 26) 162 (75) 473 Net Debt / Adjusted EBITDA (LTM) ratio1 (Note 27) 0.16x (0.09)x 1.06x 1Net Debt and Adjusted EBITDA are Non-GAAP measures. Refer to the non-GAAP measure section of the MD&A. NOTES: 19) Operating cash flows after changes in working capital were $198 million in Q1-2021 compared to $364 million and $126 million in the comparative periods of Q4-2020 and Q1-2020 respectively. Q1-2021 decreased by $166 million compared to Q4-2020 mainly due to a lower realized gold price and the outflow in working capital as significant payments were made to suppliers of the Wahgnion and Sabodala-Massawa mines. Q1-2021 has increased by $72 million relative to Q1-2020 due to increased production for the year from the Company’s existing mines, as well as from the Wahgnion, Sabodala-Massawa, Mana and Boungou mines, at higher realized gold prices. 20) Cash flows used by investing activities were $105 million in Q1-2021 compared to $97 million and $57 million in Q4-2020 and Q1-2020 respectively. The Q1-2021 amount has increased relative to Q4-2020 mainly due to expenditure on mining interests of $114 million, and an increase in long term inventory of $14 million. The increase was offset by cash acquired on acquisition of Teranga of $27 million and cash outflows on the disposal of the Agbaou mine net of proceeds received, of $5 million. 21) Cash flows generated from financing activities were $65 million in Q1-2021 compared to cash outflows of $80 million in Q4-2020 and cash generated from financing activities of $100 million in Q1-2020. During the quarter ended March 31, 2021, the Company received additional funds of $200 million following the completion of the La Mancha investment. The Company drew down $490 million on the corporate loan facilities and repaid $443 million of the debt acquired upon the acquisition of Teranga during the same period. The Company also paid out dividends amounting to $60 million. Other significant payments during the period were the settlement of the gold offtake agreement which was acquired from Teranga amounting to $50 million as well as repayment of lease obligations of $11 million.22) At quarter-end, Endeavour’s liquidity remained strong with $868 million of cash on hand and $100 million undrawn of the RCF. 23) The equipment finance lease obligations were repaid in full during FY-2020. 24) In 2018, Endeavour issued a $330 million convertible note, maturing in February 2023.25) Endeavour's corporate loan facility was increased from $430 million to $800 million in Q1-2021 to retire Teranga’s various higher cost debt facilities. At quarter-end $700 million was drawn on the facility.26) Net Debt amounted to $162 million at quarter-end, marking a Net Debt increase of $236 million compared to the beginning of the year due to the increase in gross debt as a result of acquiring Teranga.27) The Net Debt / Adjusted EBITDA (LTM) ratio ended the quarter at a healthy 0.16x. Despite the increase in gross debt as a result of the Teranga acquisition, the ratio has improved by 85% from the corresponding period last year when the ratio stood at 1.06x times. OPERATING CASH FLOW PER SHARE Operating cash flow before non-cash working capital from continuing operations amounted to $1.28 per share in Q1-2021, marking an increase of $0.41 per share compared to Q1-2020, due primarily to the increase in production and the higher realized gold price. It also represents a decrease of $0.55 per share over Q4-2020, despite higher production due to a lower realized gold price, higher total cash costs per ounce and income taxes paid. Table 11: Operating Cash Flow Before and After Non-Cash Working Capital Per Share1 THREE MONTHS ENDED In US$ million unless otherwise specified. Mar. 31,2021 Dec. 31,2020 Mar. 31,2020 INCLUDING DISCONTINUED OPERATIONS Cash flows generated from operating activities 198 364 126 Changes in working capital1 58 (98) (7) Taxes on additional dividend declared at Agbaou — 45 — Adjusted operating cash flows before working capital 256 311 119 Divided by weighted average number of outstanding shares, in thousands 208 163 111 Adjusted operating cash flow per share from all operations 0.95 2.23 1.14 Adjusted operating cash flow before working capital per share from all operations 1.23 1.91 1.08 EXCLUDING DISCONTINUED OPERATIONS Cash used by operating activities by discontinued operations (9) (20) 26 Cash generated from operating activities by continuing operations 207 384 100 Changes in working capital from continuing operations 59 (87) (5) Operating cash flows before working capital from continuing operations 265 297 95 Divided by weighted average number of outstanding shares, in thousands 208 163 111 Operating cash flow per share from continuing operations 0.99 2.36 0.90 Operating cash flow per share before working capital from continuing operations 1.28 1.82 0.86 1Operating Cash Flow Per Share is a Non-GAAP measure. Refer to the non-GAAP measure section of the MD&A. ADJUSTED NET EARNINGS PER SHARE Total Net Earnings from continuing operations amounted to $0.50 per share in Q1-2021, marking an increase of $0.26 per share compared to Q1-2020, due primarily to the increase in production and the higher realized gold price. It also represents a decrease of $0.50 per share over Q4-2020, despite higher production due to a lower realized gold price, higher total cash costs per ounce, higher income taxes paid and a larger portion of earnings attributable to NCI.Adjustments made in Q1-2021 relate mainly to gain on financial instruments, adjustments related to non-cash depreciation of inventory associated with the fair value adjustment on the purchase price allocation of SEMAFO and Teranga, loss on discontinued operations, deferred income tax, share based compensation, non-recurring items and acquisition and restructuring costs. Table 12: Net Earnings and Adjusted Net Earnings1 In US$ million unless otherwise specified. QUARTER ENDED Mar. 31,2021 Dec. 31,2020 Mar. 31,2020 TOTAL NET EARNINGS FOR CONTINUING OPERATIONS 115 30 35 Adjustments1,2 19 149 (1) ADJUSTED NET EARNINGS FOR CONTINUING OPERATIONS 135 179 34 Less portion attributable to non-controlling interests 30 15 8 ATTRIBUTABLE TO SHAREHOLDERS FOR CONTINUING OPERATIONS 105 164 26 Divided by weighted average number of O/S shares, in millions 208 163 111 ADJUSTED NET EARNINGS PER SHARE (BASIC) FROM CONTINUING OPERATIONS 0.50 1.00 0.24 Add back adjusted net earnings attributable to shareholders from discontinued operations (5) 3 7 Add back adjusted net earnings per share from discontinued operations (0.03) 0.02 0.06 ADJUSTED NET EARNINGS PER SHARE FROM ALL OPERATIONS ATTRIBUTABLE TO SHAREHOLDERS 0.48 1.02 0.30 1Adjusted Net Earnings is a Non-GAAP measure. Refer to the non-GAAP measure section of the MD&A. 2For further details please refer to the MD&A. OPERATIONAL DETAILS BY MINE SABODALA-MASSAWA MINE Q1-2021 vs Q4-2020 Insights Production slightly decreased, despite a slight increase in the gold recovery rate, due to a reduction in the throughput rate and lower average processed grades. Tonnes of ore mined decreased due to a slightly higher strip ratio and an increase in the proportion of fresh ore mined, as mining primarily focused on the Sofia Main and Sofia North deposits on the Massawa permit, with contributions from the Golouma West and Kourouloulou pits.Tonnes milled slightly decreased due to the increased scheduled maintenance which affected mill availability and the increase in the proportion of fresh rock sourced from the Sofia North pit.Processed grades slightly decreased as higher grade ore was prioritized from the Sofia Main and North pits during the ramp-up in the previous quarter during Q4-2020.Recovery rates slightly increased due to the ore blend. AISC increased due to the higher sustaining capital and higher mining costs due a higher proportion of fresh ore being processed.Sustaining capital expenditure of $9.5 million was related to waste capitalization and purchases of additional mining equipment. Non-sustaining capital expenditure of $4.6 million mostly related to the relocation activities of the Sabodala village, the new haul road and infrastructure developments at the Massawa permit mining areas. Q1-2021 vs Q1-2020 Insights The Sabodala-Massawa mine was consolidated from February 10, 2021. Plant Expansion Update The Massawa deposit is being integrated into the Sabodala mine through a two-phased approach, as outlined in the 2020 PFS. Phase 1 of the plant expansion will facilitate processing of an increased proportion of high grade, free-milling Massawa ore through the Sabodala processing plant. The installation of an additional electrowinning cell, a carbon regeneration kiln, an acid wash and elution circuit and an additional leach tank has commenced and the project is on schedule for completion in Q4-2021. In Q1-2021 a total of $6 million was incurred for the Phase 1 plant expansion, of which $5 million was incurred by Teranga prior to February 10, 2021, the remainder has been incurred by Endeavour. Phase 2 of the expansion will add an additional processing circuit to process the high grade refractory ore from the Massawa deposit, through the addition of a new refractory ore plant. A DFS for Phase 2 is underway and is on track for completion in Q4-2021. Table 13: Sabodala-Massawa Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q1-20211(Consolidated) Q4-2020 Tonnes ore mined, kt 1,622 1,056 2,131 Total tonnes mined, kt 10,713 5,831 11,628 Strip ratio (incl. waste cap) 5.62 4.52 4.46 Tonnes milled, kt 1,027 550 1,100 Grade, g/t 2.48 2.53 2.51 Recovery rate, % 90 90 89 PRODUCTION, KOZ 75 39 79 Total cash cost/oz n.a. 564 n.a. AISC/OZ n.a. 749 n.a. 1For the post acquisition period commencing February 10, 2021. 2021 Outlook Sabodala-Massawa is expected to meet guidance and is on track to produce between 310—330koz at AISC of $690—740 per ounce for the period February 10, 2021 to December 31, 2021.The Sofia Main and Sofia North pits, on the Massawa mining permit, will continue to contribute the majority of the ore mined for the remainder of 2021. A higher head grade is expected in the latter portion of the year with higher grade feed from the Sofia pits. 2021 Exploration Program A $13.0 million exploration program has been planned for 2021 to define new resources on near-mine targets at Sabodala-Massawa, including CZ, Sofia, Samina, Tina and Niakafiri, and to evaluate the potential of other near-mine and regional exploration targets.In Q1-2021, approximately $2.0 million was spent, comprised of over 20,000 meters of drilling. The majority of the drilling activity was focused on the Samina, Tina, Delya and other targets within the Massawa project area.During the remainder of 2021, drilling will be focussed on extending the non-refractory ore resources at the Sofia North deposit and following up on positive reconnaissance drilling results at the satellite deposits Samina, Tina and Delya. HOUNDÉ MINE Q1-2021 vs Q4-2020 Insights Production decreased due to the scheduled increase in waste stripping, mining lower grade ore, as well as lower recovery rates associated with the reduction in oxide ore processed as ore from Kari Pump was blended with increased amounts of fresh ore from other pits. Tonnes of ore mined decreased due to the focus on waste stripping at the Kari Pump and Vindaloo Main pits as mining was confined to low-grade areas and supplemented with ore mined from the Bouéré and Vindaloo Center pits.Tonnes milled increased slightly due to the increased milling rate that resulted from improved rock fragmentation.Average gold grade milled decreased as mining was constrained to low grade areas of the Kari Pump and Vindaloo Center pits.Recovery rate decreased to 91% due to the decrease in the proportion of oxide material milled as Kari Pump ore was blended with fresh ore from other pits. AISC increased due to an increase in the strip ratio and the decrease in grade milled and recovery rates, which was partially offset by lower fleet maintenance costs, as well as lower reagent and power cost associated with improved rock fragmentation.Sustaining capital of $4.7 million is related to waste capitalization at the Kari Pump and Vindaloo Main pit. Non-sustaining capital of $6.7 million is related to the costs associated with the development of the Kari West mining area. Q1-2021 vs Q1-2020 Insights Production increased due to higher processed tonnes and higher grades.AISC decreased due the lower mining unit costs, lower strip ratio as well as the expected decrease in sustaining capital, which was slightly offset by higher royalties associated with the higher gold price realised. Table 14: Houndé Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q4-2020 Q1-2020 Tonnes ore mined, kt 1,625 2,120 900 Total tonnes mined, kt 13,937 10,741 11,311 Strip ratio (incl. waste cap) 7.58 4.07 11.57 Tonnes milled, kt 1,147 1,117 1,066 Grade, g/t 1.89 3.06 1.76 Recovery rate, % 91 94 91 PRODUCTION, KOZ 66 101 56 Total cash cost/oz 768 541 868 AISC/OZ 839 612 1,076 2021 Outlook Houndé is on track to meet its full year guidance and produce between 240—260koz in 2021 at AISC of $855—905 per ounce. Q1-2021 performance was better than initially scheduled as the improved mining fragmentation resulted in temporarily higher mill throughput.In the upcoming quarters, mining will continue to focus on the Kari Pump pit with contributions from the Bouéré and Vindaloo Centre pits, while stripping activities are expected to increase at the Vindaloo Main pit. Grades are expected to be higher in the latter portion of the year due to stronger contributions from Vindaloo Main and the Kari area. 2021 Exploration Program An exploration program of up to $7.0 million has been planned for 2021, comprised of approximately 47,000 meters of drilling.In Q1-2021, approximately $2.0 million was spent, comprised of 25,000 meters of drilling focused on Vindaloo South, Mambo and the intersection of Kari Gap and Kari Center.For the remainder of the year, the exploration program will focus on following up on initial results at Vindaloo South, Mambo and the intersection of Kari Gap and Kari Center as well as reconnaissance drilling at Dafra T3, Marzipan, Kari Deep and Vindaloo Deep targets. ITY MINE Q1-2021 vs Q4-2020 Insights Production significantly increased due to higher throughput, higher processed grades, as well as higher plant recovery rate. Total tonnes mined increased due to a decrease in the proportion of fresh ore mined, higher mining fleet availability and less rainfall, which resulted in better road conditions improving the performance of the mining fleet.Tonnes of ore mined decreased due to a higher strip ratio as ore was mainly sourced from the Bakatouo, Walter and Daapleu pits in Q1-2021.Tonnes milled increased due to a decrease in the proportion of fresh ore milled, as well as increased plant operating time. Processed grades increased due to the benefit of the higher grade ore from the Bakatouo pit, which was supplemented with ore from the Daapleu pit and the Walter pit.Recovery rate increased due to the benefit of a higher proportion of oxide ore from the Bakatouo and Walter pits in place of the fresh sulfide ore from the Daapleu pit which has lower recovery rates. AISC per ounce decreased due to lower mining and processing unit costs as a result of lower fleet maintenance and reagent costs respectively. Fleet maintenance costs were reduced due to improved road conditions and reagent consumption was improved through a reduction in the proportion of Daapleu ore processed. The cost reductions were slightly offset by higher royalties and sustaining capital expenditureSustaining capital expenditure of $5.2 million related to waste stripping at the Ity pit. Non-sustaining capital expenditure of $12.0 million mainly related to the construction of the Stage 3 raise of the Tailings Storage Facility (“TSF”), the Le Plaque haul road construction, and the Cavally river diversion. Q1-2021 vs Q1-2020 Insights Production increased due to the higher throughput and higher processed grades which more than offset the lower recovery rate. AISC per ounce increased due to higher mining unit costs associated with mining at lower elevations, higher processing costs due to a higher proportion of fresh being processed and increased sustaining capital, related to waste capitalization and equipment component change-outs. Table 15: Ity Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q4-2020 Q1-2020 Tonnes ore mined, kt 2,105 2,660 1,909 Total tonnes mined, kt 6,816 6,546 5,226 Strip ratio (incl. waste cap) 2.24 1.46 1.74 Tonnes milled, kt 1,550 1,456 1,410 Grade, g/t 1.76 1.72 1.63 Recovery rate, % 79 76 84 PRODUCTION, KOZ 71 61 61 Total cash cost/oz 715 989 633 AISC/OZ 786 1,054 651 2021 Outlook Ity is on track to meet its full year guidance and produce between 230—250koz in 2021 at an AISC of $800—850 per ounce. Q1-2021 performance was better than initially scheduled as higher grade oxide ore was brought forward in the mine plan and the mill throughput out performed.Plant feed is expected to continue to be sourced from multiple areas, notably the Daapleu and Bakatouo pits, which will be supplemented with ore from the Ity, Walter and Colline Sud pits, as well as historical stockpiles. Greater volumes of fresh ore are expected to be processed in the upcoming quarters which is expected to reduce mill throughput and recovery rates. Mining at Le Plaque remains on schedule for Q4-2021, which is expected to result in a higher average mill grade. 2021 Exploration Program An exploration program of $9.0 million is planned for 2021. Drilling will focus on adding resources at Le Plaque, West Flotouo (Verse Ouest), Daapleu SW, Walter, Bakatouo Deep and Greater Ity. Reconnaissance drilling will also test the South Floleu area and Daapleu deep targets.In Q1-2021, approximately $4.0 million was spent, comprising 29,000 meters of drilling focused on Flotouo, Yopleu-Legaleu, Le Plaque South (Delta Extension), Daapleu Deep and the intersection of Walter and Bakatou. BOUNGOU MINE Q1-2021 vs Q4-2020 Insights Production decreased due to the lower plant throughput rate and lower average processed grade, while recovery rate remained flat. Total tonnes mined increased as mining activities ramped up following the commissioning of two excavators and additional production drills early in the year.Tonnes ore mined decreased due to the expected increase in strip ratio following the ramp up of mining activities and the commencement of pre-stripping activities at the East Pit. Tonnes milled decreased due to lower mill availability as continued enhancements were made to the SAG mill, pebble crusher and vertical tower mill which started in Q4-2020 following the restart of mining. Processed grade decreased as the the mill feed was mainly sourced from the West Pit, with reduced contributions from higher grade stockpiles, which were used to support the mill feed in Q4-2020 during the ramp-up of mining activities. AISC per ounce increased due to increased sustaining capital, which was partially offset by lower mining unit costs due to the ramp up of mining activities and the commissioning of new equipment.Sustaining capital expenditure was $4.1 million and related to waste capitalization at the West pit. Non-sustaining capital expenditure was $4.5 million and related to waste stripping at the East pit. Q1-2021 vs Q1-2020 Insights The Boungou mine was consolidated from July 1, 2020. Table 16: Boungou Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q4-2020 Tonnes ore mined, kt 246 335 Total tonnes mined, kt 6,672 2,240 Strip ratio (incl. waste cap) 26.11 5.69 Tonnes milled, kt 315 333 Grade, g/t 5.52 6.92 Recovery rate, % 96 96 PRODUCTION, KOZ 60 64 Total cash cost/oz 619 513 AISC/OZ 690 532 2021 Outlook Boungou is on track to meet its full year guidance and produce between 180 - 200koz in 2021 at AISC of $690 -740 per ounce. Q1-2021 performance was better than initially scheduled as higher grade ore extraction at the West Pit was brought forward.Plant feed is expected to continue to be sourced from the West Pit with waste stripping activities continuing at the East Pit throughout the year. Mill throughput is expected to remain relatively stable throughout the remainder of the year while recovery rates are expected to slightly decline to a more normalized rate. The average processed grade is expected to slightly decline over the upcoming quarters, as mining focuses on waste extraction, with an improvement expected in the latter portion of the year. 2021 Exploration Program An exploration program of up to $7.0 million, totaling approximately 85,000 meters of drilling, has been planned for 2021, with the aim of identifying new near-mine resources.In Q1-2021, $0.4 million was spent, comprising 7,000 meters of drilling on several near mine targets. Exploration efforts will continue to ramp up in Q2-2021, focused on delineating these near mine targets. MANA MINE Q1-2021 vs Q4-2020 Insights Production decreased due to the lower average processed grades and decreased plant throughput rate. Total open pit tonnes mined decreased due to the planned waste development at the Wona South pit in order to provide access to ore. Open pit ore was mainly sourced from the Wona Main pit following the completion of mining at the Siou pit in 2020.Total underground tonnes mined increased, however the average grade was lower, due to the mine sequence. Tonnes milled decreased due to a decrease in mill availability attributable to scheduled plant maintenance. The average processed grade decreased due to the guided lower open pit grades mined from the Wona Main pit and lower grades from the Siou Underground. AISC increased due to higher open pit unit mining costs associated with the longer hauling distance to the Wona South pit, as well as higher underground unit mining cost due to the higher density of saprolite ore. The increase was partially offset by lower processing unit costs due to improved power supply from the newly installed generators.Sustaining capital of $2.8 million is related to the development of the additional underground decline and open pit equipment rebuilds.Non-sustaining capital expenditure was $24.1 million and mainly related to open pit waste development, the TSF raise and other infrastructure projects. Q1-2021 vs Q1-2020 Insights The Mana mine was consolidated from July 1, 2020. Table 17: Mana Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q4-2020 OP tonnes ore mined, kt 355 435 OP total tonnes mined, kt 8,533 9,227 OP strip ratio (incl. waste cap) 23.01 20.21 UG tonnes ore mined, kt 245 215 Tonnes milled, kt 604 629 Grade, g/t 2.90 3.33 Recovery rate, % 90 90 PRODUCTION, KOZ 52 61 Total cash cost/oz 907 740 AISC/OZ 954 802 2021 Outlook Mana is on track to meet guidance and produce between 170 - 190koz in 2021 at AISC of $975-1,050 per ounce given its strong Q1-2021 performance as a result of better than scheduled mill throughput and grades.The strip ratio will continue to remain high throughout the year as open pit mining activity continues to focus on waste development at the Wona pit. Tonnes of ore processed is expected to slightly decline in the upcoming quarters while recovery rates are expected to remain fairly constant. The average processed grade is expected to increase in the latter portion of the year due to higher underground grades. 2021 Exploration Program An exploration program of up to $8.0 million has been planned for 2021, comprised of 44,000 meters of drilling, to focus on mine lease targets including Kona, Siou and Maoula and proximal mine lease targets including Fofina Sud.In Q1-2021, approximately $2.5 million was spent, comprising 35,000 meters of drilling focused on several targets, including Maoula and Deep Siou Underground, where drilling will continue during Q2 2021. WAHGNION MINE Q1-2021 vs Q4-2020 Insights Production increased due to a higher average processed grade as recovery rates and throughput remained flat. Tonnes of ore mined decreased slightly as mining focused on the deeper elevations with slightly greater volumes of fresh material mined. Mining continued to be supported by contractors and was primarily focussed on the Nogbele North and South pits and supplemented by the Nangolo pit, where mining activities finished in February.Tonnes milled remained flat, but began to decrease toward the end of the quarter as the proportion of fresh ore mill feed increased.Processed grades increased as a result of higher grade stockpiles supplementing the mill feed.Recovery rates remained in line with the Q4-2020 but began to decrease towards the back-end of the quarter as increased volumes of fresh ore were fed into the plant. The AISC decreased due to the lower sustaining capital, strip ratio and G&A unit costs which more than offset higher mining and processing unit costs.Sustaining capital expenditure of $1.0 million was related to waste capitalization and Fourkoura pit infrastructure. Non-sustaining capital expenditure of $3.7 million related to TSF stage 2 raise and acquisition of six dump trucks. Q1-2021 vs Q1-2020 Insights The Wahgnion mine was consolidated from February 10, 2021. Table 18: Wahgnion Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q1-20211(Consolidated) Q4-2020 Tonnes ore mined, kt 1,183 649 1,247 Total tonnes mined, kt 7,751 4,451 7,977 Strip ratio (incl. waste cap) 5.55 5.86 5.40 Tonnes milled, kt 962 538 967 Grade, g/t 1.46 1.35 1.36 Recovery rate, % 95 94 95 PRODUCTION, KOZ 43 25 41 Total cash cost/oz n.a. 746 n.a. AISC/OZ n.a. 780 n.a. 1For the post acquisition period commencing February 10, 2021. 2021 Outlook Wahgnion is on track to meet guidance and is expected to produce between 140—155koz in 2021 at AISC of $940—990 per ounce for the period February 10, 2021 to December 31, 2021Waste extraction is expected to increase, resulting in a higher strip ratio over the upcoming quarters which is expected to grant access to higher grade oxide ore from the Fourkoura and Nogbele South pits in the latter portion of the year. Plant throughput and recoveries are anticipated to decrease marginally during the wet season with a higher proportion of fresh ore being processed. 2021 Exploration Program The 2021 exploration program, with a planned expenditure of approximately $12.0 million, will focus on Nogbele North and Nogbele South deposits, targeting the continuation of mineralized structures between the Nogbele pits. Additionally, the north-northeast continuation of the Fourkoura deposit and the Hillside target will be tested for extensions. On the exploration permits, efforts will be focused on various attractive targets such as Kafina West and Korindougou.In Q1-2021, approximately $1.0 million was spent, comprising approximately 4,000 meters of drilling focused on Nogbele and Fourkoura deposits. The exploration program will ramp up in Q2-2021 focusing on Nogbele North and South deposits and the Fourkoura target. KARMA MINE Q1-2021 vs Q4-2020 Insights Production decreased due to lower stacked grade and lower recovery rates on account of longer than normal leach periods for the GG1 ore, which led to a temporary build up of gold in circuit. Decreased production was partially offset by increased stacking due to increased feed from the GG1 pit. Total ore tonnes mined decreased slightly due to the increase in strip ratio. Ore continued to be sourced from the GG1 and Kao North pits.Ore tonnes stacked slightly increased compared to the previous quarter as a higher proportion of coarse material from the GG1 pit was available, with stacker availability and utilisation remaining consistent. Ore tonnes from the GG1 and Kao North pit were mostly oxide with a blend of transitional materials. The proportion of transitional material increased with stacked tonnes being supplemented by stockpiles.The stacked ore grade decreased due to a greater proportion of the lower grade GG1 ore being stacked with ore from the Kao North pit and stockpiles supplementing the feed.Recovery rate decreased due to the increased proportion of ore from the GG1 pit and an increased proportion of transitional ore, which has a lower associated recovery rate. AISC per ounce increased due to increased mining strip ratio, which was partially offset by lower mining, processing and G&A unit costs on account of lower production drilling, blasting, rehandling and reagent and crushing costs.Sustaining capital expenditure was $0.2 million and related to capitalized waste at the Kao North pit.Non-sustaining capital expenditure was $0.8 million, which was related to construction of new cells within the heap leach pad. Q1-2021 vs Q1-2020 Insights Production decreased due to lower grade material being processed and lower recovery rates due to longer leach times. The production decrease was partially offset by increased volumes of ore stacked.AISC per ounce increased due to increased sustaining capital and lower grade ore being stacked, which had lower associated recoveries. The cost increase was partially offset by lower mining and processing unit costs. Table 19: Karma Quarterly Performance Indicators For The Quarter Ended Q1-2021 Q4-2020 Q1-2020 Tonnes ore mined, kt 1,242 1,253 1,229 Total tonnes mined, kt 5,146 5,012 4,953 Strip ratio (incl. waste cap) 3.14 3.00 3.03 Tonnes stacked, kt 1,380 1,327 1,114 Grade, g/t 0.71 0.78 1.02 Recovery rate, % 66 72 82 PRODUCTION, KOZ 22 28 28 Total cash cost/oz 1,169 1,103 843 AISC/OZ 1,179 1,132 866 2021 Outlook Karma is expected to meet its full year guidance and produce between 80—90koz in 2021 at AISC of $1,220—$1,300 per ounce.Mining activity is expected to continue at Kao North and GG1 pits throughout the year with the overall strip ratio expected to be higher in upcoming quarters. Production is expected to be higher in the second half of the year due to higher grades and gold recovery rate from Kao North. 2021 Exploration Program No material drilling is planned for 2021 AGBAOU MINE (SOLD 1 MARCH 2021) Agbaou Sale Insights On March 1, 2021, Endeavour completed the sale of its interest in the non-core Agbaou mine in Côte d’Ivoire to Allied Gold Corp (Allied Gold) for a consideration of up to $80 million with further upside through equity exposure in Allied Gold and a Net Smelter Return royalty. Q1-2021 vs Q4-2020 Insights Production and associated costs presented are for the pre-disposition period ending on March 1, 2021. Mining focused on the deeper elevation of the North, West and South Pits with greater volumes of fresh material mined. Tonnes milled was below plant capacity due to lower mill throughput rate on account of a higher proportion of fresh material delivered to the plant.Processed grades decreased as mining focused on lower grade ore from the North, West and South pits.Recovery rate increased slightly due to lower milling rate leading to better residence time. The AISC increased due to higher mining and processing unit costs associated with mining at deeper elevation and processing a higher proportion of fresh ore. The increase was slightly offset by lower sustaining capital due to the decrease in waste capitalised.Non-sustaining capital remained low. Q1-2021 vs Q1-2020 Insights Production decreased compared to same period in prior year due to operating the mine for a shorter period as the operations was discontinued through a sale. Average grade decreased due to lower grade at the deeper elevation of the North, West and South pits mined. Recovery rate remained flat.AISC increased in line with expectation as a result of lower ounces sold as well as higher mining cost and higher processing cost. This was partially offset by lower sustaining capital spend. Table 20: Agbaou Quarterly Performance Indicators For The Quarter Ended Q1-20211 Q4-2020 Q1-2020 Tonnes ore mined, kt 353 433 757 Total tonnes mined, kt 2,456 4,383 6,433 Strip ratio (incl. waste cap) 5.95 9.13 7.50 Tonnes milled, kt 348 691 732 Grade, g/t 1.09 1.37 1.31 Recovery rate, % 95 93 94 PRODUCTION, KOZ 13 28 27 Total cash cost/oz 1,116 1,001 753 AISC/OZ 1,131 1,066 951 1For the pre acquisition period ending March 1, 2021. EXPLORATION AND DEVELOPMENT ACTIVITIES As detailed in the table below, exploration will continue to be a strong focus in 2021 with a budget of $70 - $90 million, as previously announced. Efforts are expected to be focussed on the newly acquired mines with the aim of extending their lives. In addition, significant efforts will focus on greenfield and development properties such as Fetekro, Afema, Kalana, Bantou, Siguiri and other earlier stage exploration projects.In Q1-2021, the group exploration spend amounted to $16 million, of which $12 million was spent at mine operations as detailed in the project sections above and $4 million was spent on greenfield and development projects, where the focus was mainly on delineating maiden resources at Afema and expanding the resource at Fetekro. In total, 164,000 meters of drilling was completed during the quarter, of which 120,000 meters was drilled around mine operations and 44,000 meters was drilled at greenfield and development projects. Exploration efforts are expected to be accelerated in Q2-2021 ahead of the wet season.In Q1-2021 at the Fetekro development property, $2 million was spent on exploration work, comprised of 17,000 meters of drilling which was focused on expanding the Fetekro resource in the area between Lafigue Center and Lafigue North. Additional mineralization has been identified in the northwest of Lafigue Center for which we expect to update the resource estimate at Fetekro during H2-2021. The Definitive Feasibility Studies at Fetekro and Kalana are on track to be completed by year-end 2021 and Q1-2022 respectively. At Fetekro early geotechnical, hydrogeological and sterilization work is being completed, while at Kalana metallurgical testing is underway. Table 21: Consolidated Exploration Expenditures1 (All amounts in US$m) Q1-2021 2021 GUIDANCE Sabodala-Massawa 2 ~13 Wahgnion 1 ~12 Ity 4 ~9 Mana 3 ~8 Houndé 2 ~7 Boungou 0 ~7 Karma 0 ~0 MINE SUBTOTAL 12 ~56 Greenfield and development projects 4 ~14 - 34 TOTAL $16 $70 - 90 1Consolidated exploration expenditures include expensed, sustaining, and non-sustaining exploration expenditures. Amounts may differ from MD&A due to rounding. CONFERENCE CALL AND LIVE WEBCAST Management will host a conference call and webcast on Thursday May 13, at 8:30am Toronto time (ET) to discuss the Company's financial results. The conference call and webcast are scheduled at: 5:30am in Vancouver 8:30am in Toronto and New York 1:30pm in London 8:30pm in Hong Kong and Perth The webcast can be accessed through the following link:https://edge.media-server.com/mmc/p/drgvvuhp Analysts and investors are also invited to participate and ask questions using the dial-in numbers below:International: +1 646-741-3167North American toll-free: +1 877-870-9135UK toll-free: +44 (0) 8002796619 Confirmation Code: 7972969 The conference call and webcast will be available for playback on Endeavour's website. QUALIFIED PERSONS Clinton Bennett, Endeavour's VP Metallurgy and Process Improvement - a Fellow of the Australasian Institute of Mining and Metallurgy, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) and has reviewed and approved the technical information in this news release. CONTACT INFORMATION Martino De Ciccio VP – Strategy & Investor Relations+44 203 640 8665mdeciccio@endeavourmining.com Brunswick Group LLP in London Carole Cable, Partner+44 7974 982 458ccable@brunswickgroup.com Vincic Advisors in Toronto John Vincic, Principal+1 (647) 402 6375john@vincicadvisors.com ABOUT ENDEAVOUR MINING CORPORATION Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the Toronto Stock Exchange, under the symbol EDV and will be seeking a secondary listing as a Premium issuer on the London Stock Exchange during Q2-2021. For more information, please visit www.endeavourmining.com. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION This news release contains forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, the success of exploration activities, the declaration, payment and sustainability of Endeavour’s dividends, the completion of studies, mine life and any potential extensions, the future price of gold, the share buyback program, and the expected timing of a premium listing on the LSE. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as expects, expected, budgeted, forecasts, anticipates, believes”, “plan”, “target”, “opportunities”, “objective”, “assume”, “intention”, “goal”, “continue”, “estimate”, “potential”, “strategy”, “future”, “aim”, “may”, “will”, “can”, “could”, “would” and similar expressions . Forward-looking statements, while based on management's reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions or completion of divestitures; risks related to international operations; risks related to general economic conditions and the impact of credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; Endeavour’s financial results, cash flows and future prospects being consistent with Endeavour expectations in amounts sufficient to permit sustained dividend payments; the completion of studies on the timelines currently expected, and the results of those studies being consistent with Endeavour’s current expectations; actual results of current exploration activities; production and cost of sales forecasts for Endeavour meeting expectations; unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; extreme weather events, natural disasters, supply disruptions, power disruptions, accidents, pit wall slides, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities; changes in national and local government legislation, regulation of mining operations, tax rules and regulations and changes in the administration of laws, policies and practices in the jurisdictions in which Endeavour operates; disputes, litigation, regulatory proceedings and audits; adverse political and economic developments in countries in which Endeavour operates, including but not limited to acts of war, terrorism, sabotage, civil disturbances, non-renewal of key licenses by government authorities, or the expropriation or nationalization of any of Endeavour’s property; risks associated with illegal and artisanal mining; environmental hazards; and risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic. Although Endeavour 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. 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. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business. NON-IFRS MEASURES Some of the indicators used by Endeavour in this press release represent non-IFRS financial measures. These measures are presented as they can provide useful information to assist investors with their evaluation of the pro forma performance. Since the non-IFRS performance measures presented in the below sections do not have any standardized definition prescribed by IFRS, they may not be comparable to similar measures presented by other companies. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The non-IFRS financial performance measures are defined below and reconciled to reported IFRS measures. Endeavour believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors may find that the total cash cost per ounce sold provided useful information to assist investors with their evaluation of performance and ability to generate cash flow from its operations. All-in sustaining cost represents the total cash cost plus sustainable capital expenditures and stripping costs presented per ounce sold. Endeavour believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors may find that the all-in sustaining cost per ounce sold better meets their needs by assessing its operating performance and its ability to generate free cash flow. Corporate Office: 5 Young St, Kensington, London W8 5EH, UK Attachments EDV Q1-21 MDA EDV Q1-21 News Release EDV Q1-21 Presentation EDV Q1-21 Financial Statements

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2021-05-12 - Yahoo! Finance: EDR.TO News

Endeavour Silver Announces 2021 Annual General Meeting Results

Confirms Management ChangesVANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) announces that at the Company’s 2021 Annual General Meeting (“AGM”) held on May 12, 2021 in Vancouver, shareholders voted in favour of all items of business. A total of 67,521,897 votes were cast or represented by proxy at the AGM, representing 41.25% of the outstanding common shares as of the record date. The following is a tabulation of the votes submitted by proxy: DirectorVotes forVotes withheldPercent forPercent withheldMargaret M. Beck 34,983,870749,10697.90%2.10%Ricardo M. Campoy35,070,420662,55698.15%1.85%Bradford J. Cooke33,801,3391,931,63794.59%5.41%Geoffrey A. Handley33,025,7272,707,25092.42%7.58%Rex J. McLennan34,891,330841,64697.64%2.36%Kenneth Pickering35,004,529728,44897.96%2.04%Mario D. Szotlender34,601,3681,131,60896.83%3.17% All director nominees were re-elected. By a vote by show of hands, shareholders voted 98.09% in favour of re-appointing KPMG LLP as auditor of the Company and authorized the Board to fix the auditor's remuneration for the ensuing year. In addition, shareholders also voted 97.51% in favour to reconfirm the Stock Option Plan, as amended by Amendment No. 5 and 97.75% in favour of the Share Unit Plan. As previously announced, effective today, Bradford Cooke has been appointed Executive Chair of the Board and has stepped down as CEO. Dan Dickson has assumed the role of CEO and has been appointed to the Board, Christine West has assumed the role of CFO and Rex McLennan has been selected as Lead Director of Endeavour. Geoff Handley has stepped down as Chairman but plans to remain an active Director of the Company. Bradford Cooke commented, “I want to thank all of the people who have supported me over the past 17 years in building up Endeavour Silver to the Company it is today, including our management team, board of directors and of course our shareholders. We have done some great things together but we are not half done yet.” “The time has come to pass the management baton to our rising stars, Dan Dickson and Christine West. I plan to stay active with Endeavour, utilizing my knowledge of and contacts in the mining industry to continue building a bigger and better Company, and supporting Dan and Christine in their new roles. We appreciate the vote of confidence of our directors and shareholders.” About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information: Galina Meleger, Director Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: gmeleger@edrsilver.com Website: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

2021-05-12 - Yahoo! Finance: MND.TO News

Mandalay Resources Corporation Announces Financial Results for the First Quarter of 2021

TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (Mandalay or the Company) (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the quarter March 31, 2021. The Company’s condensed and consolidated interim financial results for the quarter ended March 31, 2021, together with its Management’s Discussion and Analysis (“MD&A”) for the corresponding period, can be accessed under the Company’s profile on www.sedar.com and on the Company’s website at www.mandalayresources.com. All currency references in this press release are in U.S. dollars except as otherwise indicated. First Quarter 2021 Highlights: Quarterly revenue of $52.6 million; highest since Q2 2016;Adjusted EBITDA of $26.1 million; third highest in Company’s history;Adjusted net income of $5.6 million ($0.06 or C$0.08 per share); andConsolidated net income of $25.5 million ($0.28 or C$0.35 per share). Dominic Duffy, President and CEO of Mandalay, commented: “Mandalay Resources is pleased to report solid financial results for the first quarter of 2021, as the Company continues to execute against our operational strategy. This quarter was very productive as we generated $52.6 million in revenue and $26.1 million in adjusted EBITDA – resulting in an EBITDA margin of 50%. Mandalay earned $5.6 million ($0.06 or C$0.08 per share) in adjusted net income during the first quarter, marking our fifth consecutive quarter of profitability.” Mr. Duffy continued, “Our consolidated cash and all-in sustaining costs per saleable gold equivalent ounce during the first quarter of 2021 was $883 and $1,212, respectively, slight increases of 4% and 2% as compared to the $846 and $1,191 during the same period last year.” Mr. Duffy added, “The Company ended the first quarter of 2021 with a cash balance of $29.9 million, which was lower than the $34.2 million at year end 2020. This was due to several factors the main being a change in the payment terms with our principal concentrate customer at Costerfield. This resulted in provisional invoices being paid in the month post-shipment as opposed to the prior contract that allowed for payment five days after shipment date. Consequently, this delayed a payment of $4.1 million not obtained in the first quarter. Other one-off factors were a one-time upfront deposit of $2.0 million paid to a contractor responsible for the tailings dam lift at Björkdal and a $1.1 million cash outflow related to the restart of Cerro Bayo. At the start of April, we sold our first concentrate shipment from Cerro Bayo and expect to see profitability from this project over the coming months. During this quarter, the Company also repaid $3.8 million towards the Syndicated Facility leaving $55.2 million owing and paid a net amount of $1.5 million to settle obligations under our hedging programs. We forecast free cash flow to be normalized in the second quarter and the cash position to continue to grow for the remainder of the year.” Mr. Duffy added, “Costerfield continued with its remarkable performance as it posted $31.8 million in revenue and $21.5 million in adjusted EBITDA, up 56% in revenue and 54% in adjusted EBITDA year over year. This strong mine operating margin reflects the constant high-grade feed delivered from the Youle deposit and the relatively fixed cost nature of our operation. The processing plant recorded a gold recovery rate of 93.8% – its sixth quarter over quarter improvement – and with the completion of the Cavitation Tube construction and startup in early April we expect to see further improvements in the second quarter. This quarter reveals the quality of the Youle deposit as it becomes the anchor for the Company with its continued financial and operational performance.” Mr. Duffy continued, “Björkdal generated stable production and sales with $20.8 million and $5.8 million in revenue and adjusted EBITDA, respectively, in the first quarter of 2021. The underground ramp up continued as we mined an approximate 269,000 tonnes at 1.52 g/t of gold; on pace to exceed 1.1 million tonnes of ore from the underground in 2021. Moving forward, we expect grades to increase as we mine further down into the Aurora zone, with more stopes coming into production.” Mr. Duffy concluded, “Mandalay is tracking well to attain its 2021 production and cost guidance and we forecast significantly better free cashflow for the remainder of 2021. Our focus going forward will revolve around the significant exploration potential at Costerfield, as the program looks to build upon the recent successful verification of grades and continuity of the newly discovered Shepard Zone. At Björkdal, the exploration focus will be on drilling the Main and Lake zones to the north east at depth and extensions of the Aurora zone.” First Quarter 2021 Financial Summary The following table summarizes the Company’s financial results for the three months ended March 31, 2021, December 31, 2020 and March 31, 2020: Three months ended March 31, 2021Three months ended December 31, 2020Three months ended March 31, 2020 $’000$’000$’000Revenue52,57345,32041,556Cost of sales25,41418,79818,832Adjusted EBITDA (1)26,06225,34620,903Income from mine ops before depreciation, depletion27,15926,52222,734Adjusted net income (loss) (1)5,64612,0655,186Consolidated net income (loss)25,50014,722(3,608)Capital expenditure12,02814,19410,037Total assets297,219301,284251,067Total liabilities143,434165,505154,280Adjusted net income (loss) per share (1)0.060.130.06Consolidated net income (loss) per share0.280.16(0.04) Adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are non-IFRS measures, defined at the end of this press release “Non-IFRS Measures”. In the first quarter of 2021, Mandalay generated consolidated revenue of $52.6 million, 26% higher than in the first quarter of 2020. This increase is attributable to Mandalay selling 5,437 more gold equivalent ounces combined with higher realized price in the first quarter of 2021 compared to the first quarter of 2020. The Company’s realized gold price in the first quarter of 2021 increased by 2% compared to the first quarter of 2020, and the realized price of antimony increased by 50%. Consolidated cash cost per ounce of $883 increased by 4% in the first quarter of 2021 compared to the first quarter of 2020, mainly due to higher mining costs and foreign exchange movements. Cost of sales during the first quarter of 2021 versus the first quarter of 2020 were $3.8 million higher at Costerfield and $2.6 million higher at Björkdal. Consolidated general and administrative costs were $0.7 million lower as compared to the prior year quarter. Mandalay generated adjusted EBITDA of $26.1 million in the first quarter of 2021, 25% higher compared to the Company’s adjusted EBITDA of $20.9 million in the year ago quarter. Adjusted net income was $5.6 million in the first quarter of 2021, which excludes the $20.2 million fair value gain related to the gold hedges associated with the Syndicated Facility and $0.4 million in care and maintenance costs, compared to an adjusted net income of $5.2 million in the first quarter of 2020. Consolidated net income was $25.5 million for the first quarter of 2021, versus a net loss of $3.6 million in the first quarter of 2020. Mandalay ended the first quarter of 2021 with $29.9 million in cash and cash equivalents. First Quarter 2021 Operational Summary The table below summarizes the Company’s operations, capital expenditures and operational unit costs for the three months ended March 31, 2021, December 31, 2020 and March 31, 2020: Three months ended March 31, 2021Three months ended December 31, 2020Three months ended March 31, 2020$’000$’000$’000CosterfieldGold produced (oz)11,08212,23610,620Antimony produced (t)8328581,108Gold equivalent produced (oz)15,45815,09914,927Cash cost (1) per oz gold eq. produced ($)640668577All-in sustaining cost (1) per oz gold eq. produced ($)9371,077854Capital development2,9783,5993,197Property, plant and equipment purchases9011,886781Capitalized exploration1,225937732BjörkdalGold produced (oz)11,85512,25210,750Cash cost (1) per oz gold produced ($)1,1871,2511,052All-in sustaining cost (1) per oz gold produced ($)1,5331,6161,479Capital development2,3942,3372,210Property, plant and equipment purchases3,8454,8322,327Capitalized exploration457586646Cerro BayoGold produced (oz)724--Silver produced (oz)43,669--Gold equivalent produced (oz)1,363--Cash cost (1) per oz gold eq. produced ($)995--ConsolidatedGold equivalent produced (oz)28,67627,35125,677Cash cost* per oz gold eq. produced ($)883929846All-in sustaining cost (1) per oz gold eq. produced ($)1,2121,3501,191Capital development5,3725,9365,407Property, plant and equipment purchases4,7466,7183,108Capitalized exploration (2)1,9101,5401,522 Cash cost and all-in sustaining cost are non-IFRS measures. See “Non-IFRS Measures” at the end of this press release.Includes capitalized exploration relating to other non-core assets. Costerfield gold-antimony mine, Victoria, Australia Costerfield produced 11,082 ounces of gold and 832 tonnes of antimony for 15,458 gold equivalent ounces in the first quarter of 2021. Cash and all-in sustaining costs at Costerfield of $640/oz and $937/oz, respectively, compared to cash and all-in sustaining costs of $577/oz and $854/oz, respectively, in the fourth quarter of 2020. Björkdal gold mine, Skellefteå, Sweden Björkdal produced 11,855 ounces of gold in the first quarter of 2021 with cash and all-in sustaining costs of $1,187/oz and $1,533/oz, respectively, compared to cash and all-in sustaining costs of $1,052/oz and $1,479/oz, respectively, in the first quarter of 2020. Cerro Bayo silver-gold mine, Patagonia, Chile In the first quarter of 2020, the Company spent $0.4 million on care and maintenance expenses at Cerro Bayo, compared to $0.6 million in the first quarter of 2020. Cerro Bayo is currently subject to a binding option agreement between the Company and Equus Mining (“Equus”) pursuant to which Equus has an option to acquire Cerro Bayo. For further information see the Company’s October 8, 2019, press release. During the first quarter of 2021, the Company restarted the processing facility at Cerro Bayo and began a trial processing of mineralized waste dump materials. Cerro Bayo produced 724 ounces of gold and 43,699 ounces of silver for 1,363 gold equivalent ounces in the first quarter of 2021 at a cash cost of $995/oz. Lupin, Nunavut, Canada Care and maintenance spending at Lupin was less than $0.1 million during the first quarter of 2021, which was the same as in the first quarter of 2020. Reclamation spending at Lupin was $0.2 million during the first quarter of 2021 which was same in the first quarter of 2020. The full closure of Lupin will continue in the 2021 season funded by ongoing progressive security reductions held by CIRNA. Challacollo, Chile On April 19, 2021, Aftermath Silver Ltd. (“Aftermath Silver”) paid C$1.5 million in cash and issued 2,054,794 common shares at deemed price of C$0.73 per share to the Company on May 05, 2021, in satisfaction of a purchase price instalment. Further information regarding the definitive agreement signed with Aftermath Silver for the sale of Challacollo can be found in the Company’s November 12, 2019, press release. La Quebrada, Chile No work was carried out on the La Quebrada development property during Q1 2021. COVID-19 The coronavirus (“COVID-19”) pandemic is present in all countries in which the Company operates, with cases being reported in Canada, Australia, Sweden and Chile. At this time, the Company has activated business continuity practices across all sites. Management will continue to monitor developments across all jurisdictions and will adjust its planning as necessary. The Company is not able to estimate the duration of the pandemic and potential impact on its business if disruptions or delays in our operations occur or our ability to transfer our products to market. In addition, a severe prolonged economic downturn could result in a variety of risks to the business, including a decreased ability to raise additional capital when needed on acceptable terms, if at all. As the situation continues to evolve, the Company will continue to closely monitor operating conditions in the countries we operate and respond accordingly. More details are included in the press release dated March 20, 2020, and on the Company’s website. Conference Call Mandalay’s management will be hosting a conference call for investors and analysts on May 13, 2021 at 8:00 AM (Toronto time). Analysts and interested investors are invited to participate using the following dial-in numbers: Participant Number: (201) 689-8341Participant Number (Toll free): (877) 407-8289Conference ID:13719805 A replay of the conference call will be available until 11:59 PM (Toronto time), May 27, 2021 and can be accessed using the following dial-in number: Encore Toll Free Dial-in Number: (877) 660-6853Encore ID: 13719805 About Mandalay Resources Corporation: Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under care and maintenance or development statuses. The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay’s mission is to create shareholder value through the profitable operation of both its Costerfield and Björkdal mines. Currently, the Company’s main objective is to continue mining the high-grade Youle vein at Costerfield, which continues to supply high-grade ore, and also focus on extending Youle’s Mineral Reserves at depth. At Björkdal, the Company will aim to increase production from the Aurora zone in the coming years, in order to maximize profit margins from the mine. Forward-Looking Statements This news release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the Company’s anticipated performance in 2021. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading “Risk Factors” in Mandalay’s annual information form dated March 31, 2021, a copy of which is available under Mandalay’s profile at www.sedar.com. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results 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. Non-IFRS Measures This news release may contain references to adjusted EBITDA, adjusted net income, free cash flow, cash cost per saleable ounce of gold equivalent produced and all-in sustaining cost all of which are non-IFRS measures and do not have standardized meanings under IFRS. Therefore, these measures may not be comparable to similar measures presented by other issuers. Management uses adjusted EBITDA and free cash flow as measures of operating performance to assist in assessing the Company’s ability to generate liquidity through operating cash flow to fund future working capital needs and to fund future capital expenditures, as well as to assist in comparing financial performance from period to period on a consistent basis. Management uses adjusted net income in order to facilitate an understanding of the Company’s financial performance prior to the impact of non-recurring or special items. The Company believes that these measures are used by and are useful to investors and other users of the Company’s financial statements in evaluating the Company’s operating and cash performance because they allow for analysis of its financial results without regard to special, non-cash and other non-core items, which can vary substantially from company to company and over different periods. The Company defines adjusted EBITDA as income from mine operations, net of administration costs, and before interest, taxes, non-cash charges/(income), intercompany charges and finance costs. The Company defines adjusted net income as net income before special items. Special items are items of income and expense that are presented separately due to their nature and, in some cases, expected infrequency of the events giving rise to them. A reconciliation between adjusted EBITDA and adjusted net income, on the one hand, and consolidated net income, on the other hand, is included in the MD&A. The Company defines free cash flow as a measure of the Corporation’s ability to generate and manage liquidity. It is calculated starting with the net cash flows from operating activities (as per IFRS) and then subtracting capital expenditures and lease payments. Refer to Section 1.2 of MD&A for a reconciliation between free cash flow and net cash flows from operating activities. For Costerfield, saleable equivalent gold ounces produced is calculated by adding to saleable gold ounces produced, the saleable antimony tonnes produced times the average antimony price in the period divided by the average gold price in the period. The total cash operating cost associated with the production of these saleable equivalent ounces produced in the period is then divided by the saleable equivalent gold ounces produced to yield the cash cost per saleable equivalent ounce produced. The cash cost excludes royalty expenses. Site all-in sustaining costs include total cash operating costs, sustaining mining capital, royalty expense, accretion and depletion. Sustaining capital reflects the capital required to maintain each site’s current level of operations. The site’s all-in sustaining cost per ounce of saleable gold equivalent in a period equals the all-in sustaining cost divided by the saleable equivalent gold ounces produced in the period. For Cerro Bayo, saleable equivalent gold ounces produced is calculated by adding to saleable gold ounces produced, the saleable silver ounces produced times the average silver price in the period divided by the average gold price in the period. The total cash operating cost associated with the production of these saleable equivalent ounces produced in the period is then divided by the saleable equivalent gold ounces produced to yield the cash cost per saleable equivalent ounce produced. The cash cost excludes royalty expenses. Site all-in sustaining costs include total cash operating costs, sustaining mining capital, royalty expense, accretion and depletion. Sustaining capital reflects the capital required to maintain each site’s current level of operations. The site’s all-in sustaining cost per ounce of saleable gold equivalent in a period equals the all-in sustaining cost divided by the saleable equivalent gold ounces produced in the period. For Björkdal, the total cash operating cost associated with the production of saleable gold ounces produced in the period is then divided by the saleable gold ounces produced to yield the cash cost per saleable gold ounce produced. The cash cost excludes royalty expenses. Site all-in costs include total cash operating costs, royalty expense, accretion, depletion, depreciation and amortization. Site all-in sustaining costs include total cash operating costs, sustaining mining capital, royalty expense, accretion and depletion. Sustaining capital reflects the capital required to maintain each site’s current level of operations. The site’s all-in sustaining cost per ounce of saleable gold equivalent in a period equals the all-in sustaining cost divided by the saleable equivalent gold ounces produced in the period. For the Company as a whole, cash cost per saleable gold equivalent ounce is calculated by summing the gold equivalent ounces produced by each site and dividing the total by the sum of cash operating costs at the sites. Consolidated cash cost excludes royalty and corporate level general and administrative expenses. This definition was updated in the third quarter of 2020 to exclude corporate general and administrative expenses to better align with industry standard. All-in sustaining cost per saleable ounce gold equivalent in the period equals the sum of cash costs associated with the production of gold equivalent ounces at all operating sites in the period plus corporate overhead expense in the period plus sustaining mining capital, royalty expense, accretion, depletion, depreciation and amortization, divided by the total saleable gold equivalent ounces produced in the period. A reconciliation between cost of sales and cash costs, and also cash cost to all-in sustaining costs are included in the MD&A. For Further Information: Dominic Duffy President and Chief Executive OfficerEdison NguyenManager, Analytics and Investor RelationsContact: (647) 260-1566

2021-05-12 - Yahoo! Finance: PAAS.TO News

Pan American Silver provides drill results and a project update for the La Colorada Skarn deposit

Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (Pan American, or the Company) today provided results for 28 additional holes drilled at the La Colorada skarn deposit and an update of the project development.

2021-05-12 - Yahoo! Finance: HBE.V News

Hornby Bay Announces Filing of Filing Statement

Toronto, Ontario--(Newsfile Corp. - May 12, 2021) - Hornby Bay Mineral Exploration Ltd. (TSXV: HBE) (Hornby Bay or the Company) is pleased to announce that in connection with its previously announced transaction (Transaction) in accordance with Policy 5.2 of the TSX Venture Exchange (the TSXV), Hornby Bay filed a filing statement (the Filing Statement) dated May 11, 2021, in support of its application to the TSXV to become a Mining Issuer (as such term ...

2021-05-12 - Yahoo! Finance: OGD.TO News

Orbit Garant Drilling Reports Fiscal 2021 Third Quarter Financial Results

Orbit Garant Drilling Inc. (TSX: OGD) (Orbit Garant or the Company) today announced its financial results for the three-month (Q3 2021) and nine-month periods ended March 31, 2021. All dollar amounts are in Canadian dollars unless otherwise stated.

2021-05-12 - Yahoo! Finance: PAAS.TO News

Pan American Silver reports Q1 2021 results

Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (Pan American or the Company) today reported unaudited results for the quarter ended March 31, 2021 (Q1 2021). Pan American's unaudited condensed interim consolidated financial statements (financial statements), as well as Pan American's management's discussion and analysis (MD&A) for the three months ended March 31, 2021, are available on Pan American's website at panamericansilver.com and on SEDAR at www.sedar.com.

2021-05-12 - Nicola Mining

Nicola Mining Commences Phase 1 Exploration At The New Craigmont Copper Project

TSX.V: NIM NEWS RELEASE VANCOUVER, BC, May 12, 2021 – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has commenced Phase 1 exploration drilling (“Phase 1”) at its 100% owned New Craigmont Copper Project, located near Merritt, BC, and 33 km south of the Highland Valley porphyry district.  The Company…

The post Nicola Mining Commences Phase 1 Exploration At The New Craigmont Copper Project appeared first on Nicola Mining.

2021-05-12 - Yahoo! Finance: MPVD.TO News

Mountain Province Diamonds Announces First Quarter Financial Results and Guidance for 2021

Mountain Province Diamonds Inc. (Mountain Province, the Company) (TSX: MPVD) (OTCQX: MPVD) today announces financial results for the first quarter ended March 31, 2021 (the Quarter or Q1 2021) from the Gahcho Kué Diamond Mine (GK Mine). All figures are expressed in Canadian dollars unless otherwise noted.

2021-05-12 - Yahoo! Finance: MPVD.TO News

Mountain Province Diamonds Announces US$33.0 million Term Loan

Mountain Province Diamonds Inc. (Mountain Province or the Company) (TSX: MPVD) (OTCQX: MPVD) today announces that it has amended and restated its credit agreement (the Transaction) with Dunebridge Worldwide Ltd. (Dunebridge), as lender, adding a US$33.0 million term loan facility (the Term Facility) to its existing US$25.0 million revolving credit facility (the Revolving Facility).

2021-05-12 - Yahoo! Finance: EPL.V News

Eagle Plains Options Pine Channel Gold Project to Tri Capital

CRANBROOK, BC / ACCESSWIRE / May 12, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) (EPL or Eagle Plains) and Tri Capital Opportunities Corp (TCAP)(TCAP.

2021-05-12 - Latest updates

Mines and Money

2021-05-12 - Yahoo! Finance: WPM.TO News

Wheaton Precious Metals Announces Update in Respect of its At-the-market Equity Program

Wheaton Precious Metals Corp. (Wheaton or the Company) announced today that the Company has filed a new prospectus supplement in connection with its existing at-the-market equity program (ATM Program) that allows the Company to issue up to US$300 million (or the equivalent in Canadian dollars determined using the daily exchange rate posted by the Bank of Canada on the date of sale) of common shares (Common Shares) from treasury to the public from time to time, at the Company's discretion and subject to regulatory requirements. Any Common Shares sold in the ATM Program will be sold (i) in ordinary brokers' transactions on the NYSE or another US marketplace on which the Common Shares are listed, quoted or otherwise trade, (ii) in ordinary brokers' transactions on the TSX, (iii) on another Canadian marketplace on which the Common Shares are listed, quoted or otherwise trade, or (iv) with respect to sales in the United States, at the prevailing market price, a price related to the prevailing market price or at negotiated prices. Since the Common Shares will be distributed at the prevailing market prices at the time of the sale or certain other prices, prices may vary among purchasers and during the period of distribution.

2021-05-12 - Yahoo! Finance: WDO.TO News

Wesdome Announces 2021 First Quarter Financial Results

TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces first quarter (“Q1 2021”) financial results. All figures are stated in Canadian dollars unless otherwise noted. Mr. Duncan Middlemiss, President and CEO commented, “During the first quarter, a significant milestone was achieved at Kiena, with the completion of the A Zone bulk sample reconciliation which has produced 6% more gold at a feed grade of 15.7 g/t versus 14.7 g/t in the resource block model grade. Additionally, the bulk sample generated an additional $3.9 million from the sale of 1,793 ounces of gold in the quarter. Significant progress was also made towards projects that would benefit the mine re-start, such as development, mill refurbishment, shaft and other construction projects, and work at the tailing management area. The PFS is near completion and the Company intends to release the results of the PFS later in the quarter. During the quarter a total of $14.0 million was spent on growth and capital projects (Q1 2020: $10.6 million). Consequently, free cash flow decreased compared to the same period in 2020, and the cash position remained flat quarter over quarter with $63.9 million as of March 31 (December31 2020: $63.5 million), sufficient to fund all exploration, sustaining, and growth capital projects including the potential restart of the Kiena mine The Eagle River Underground Mine produced 53,540 tonnes at a head grade of 12.8 grams per tonne (“g/t Au”) for 21,396 ounces produced, within our expectations. Eagle River grades were slightly below the low end of our guidance, however increased throughout the quarter. The Company expects to be within guidance for the year, and remains on track to produce 92,000 – 105,000 ounces from the Eagle River Complex, plus an additional 15,000 – 25,000 from Kiena pending a restart decision. Exploration activities at both sites ramped up during Q1 and produced very positive results. At Eagle, the Company is embarking on its’ $16M exploration campaign with 5 drills underground and 2-3 rigs on surface. Currently a regional structural compilation is underway which will aid in the understanding of the current Eagle River deposit and generate high quality mine and regional targets. As well, definition drilling at the Falcon Zone advanced rapidly, and initial sill development is expected to commence in Q2, thereby providing an opportunity to assess the gold mineralization of the Falcon Zone within volcanic rocks. At Kiena, an exciting new discovery was made – a new high grade gold zone was discovered in the footwall of the A Zone. This drilling highlights the potential to add ounces, not only in this area but illustrates the untested potential of the entire gold system around the Kiena mine. This footwall zone will be one of the zones of focus for the continued drilling.” The Company has performed well during the quarter despite the Covid-19 pandemic. Hygiene protocols are well implemented and the operations have been Covid free throughout. We continue to operate diligently keeping our workplaces safe for our employees, contractors, and vendors. Key operating and financial highlights of the Q1 2021 results include: Gold production of 22,564 ounces from the Eagle River Complex, a 10% decrease over the same period in the previous year (Q1 2020: 25,122 ounces): Eagle River Underground 53,540 tonnes at a head grade of 12.8 grams per tonne for 21,396 ounces produced, 13% decrease over the previous year (Q1 2020: 24,457 ounces).Mishi Open Pit 17,219 tonnes at a head grade of 2.5 g/t Au for 1,169 ounces produced (Q1 2020: 665 ounces). Revenue of $46.0 million, a 19.8% decrease over the previous year (Q1 2020: $57.3 million).Ounces sold 22,457, which includes 1,793 ounces from the Kiena bulk sample at an average sales price of $2,219/oz (Q1 2019: 26,500 ounces at an average price of $2,162/oz).Cash margin1 of $21.8 million, a 21.0% decrease over Q1 2020 (Q1 2020 - $27.6 million).Operating cash flow of $22.0 million or $0.16 per share1 as compared to $33.5 million or $0.24 per share for the same period in 2020.Free cash flow of $0.1 million, net of an investment of $12.6 million in Kiena, or nil per share1 (Q1 2020: free cash flow of $16.7 million or $0.12 per share). Net income and Net income (adjusted)1 of $7.1 million or $0.05 per share (Q1 2020: $11.5 million or $0.08 per share). Cash position increased to $63.9 million compared to $63.5 million in the previous quarter.Cash costs1 of $1,076/oz or US$850/oz, a 4% decrease over the same period in 2020 (Q1 2020: $1,120/oz or US$833/oz) due to the inclusion of 1,793 lower cost ounces from the Kiena bulk sample, which was processed in Q4 2020 and sold in Q1 2020.All-in sustaining costs (“AISC”) 1 of $1,497/oz or US$1,182/oz, a 5% increase over the same period in 2020 (Q1 2020: $1,423/oz or US$1,058/oz), due to lower ounces sold and higher sustaining capital, which was partially offset by the inclusion of 1,793 lower cost ounces from the Kiena bulk sample, which was processed in Q4 2020 and sold in Q1 2021. This includes approximately $30/ounce in COVID-19 safety related costs. Refer to the Company’s 2021 First Quarter Management Discussion and Analysis, section entitled “Non-IFRS Performance Measures” for the reconciliation of these non-IFRS measurements to the financial statements. Production and Exploration HighlightsAchievementsEagle River The Eagle River underground ore production averaged 641 tpd in Q1 2021 due to the ventilation system upgrade, which included the development of the 640 m ramp to provide a connection with the main ramp, a new ventilation raise underground, and the installation of a second fanAt the Falcon Zone, initial sill development is expected to commence in Q2, thereby providing an opportunity to assess the gold mineralization of the Falcon Zone in the volcanic rocks. The Company is continuing to explore the 311 West Zone along the western margin of the mine diorite. The zone has transitioned from the diorite into the adjacent mafic volcanics, again highlighting the potential of the volcanic rocks to host gold mineralization.Surface drilling in ongoing both east and west of the mine to follow up on anomalous values returned from regional drilling program in 2020.A comprehensive analysis of the structural geology is being completed at the mine and the surrounding volcanic rocks to aid in exploration targeting.Total metres drilled in 2021 are budgeted to range between 164,000 and 174,000 m for five underground and three surface drill rigs, including underground exploration of 60,000 - 70,000 m, underground definition drilling of 50,000 m, and surface exploration drilling 54,000 m. Kiena A total of 7,032 tonnes were processed from the Kiena Deep A zone bulk sample at the Kiena mill in Q4 2020. The bulk sample recovered 6% more gold than the MRE with a feed grade of 15.7 g/t versus model grade of 14.7 g/t. Total gold produced was 3,479 ounces with gold recovery in the Kiena mill of 98.2%. To date, 3,293 ounces of gold have been sold, which includes 1,500 ounces in Q4 2020 and 1,793 ounces in Q1 2021, with the remaining to be sold in Q2.A new high grade gold zone was discovered in the footwall of the A Zone. This drilling highlights the potential to add ounces not only in this area but illustrates the untested potential of the entire gold system around the Kiena mine.Recent drilling continues to expand the Kiena Deep A Zone predominantly along the lateral extensions of the zone. The high grades intersected will be included in future resource updates and are expected to add to the current resource base including Hole 6739W3: 46.2 g/t Au over 24.2 m core length (36.6 g/t Au cut, 6.7 m true width) A1 Zone.The Pre-Feasibility Study (PFS) is progressing well, and it is expected to be completed in Q2, with a scheduled re-start decision shortly thereafter. The pre-production timeframe is forecast to be less than six months, potentially driving the Kiena Mine into commercial production in Q4 of this year.The 2021 exploration program at Kiena consists of 65,000 m of underground drilling and 42,000 m of surface drilling. Technical Disclosure The technical content of this release has been compiled, reviewed and approved by Marc-Andre Pelletier, P. Eng, Chief Operating Officer, and Michael Michaud, P.Geo., Vice President, Exploration of the Company and each a Qualified Person as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources The mineral reserve and resource estimates reported in this news release were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by Canadian securities regulatory authorities. The United States Securities and Exchange Commission (the “SEC”) applies different standards in order to classify and report mineralization. This news release uses the terms “measured”, “indicated” and “inferred” mineral resources, as required by NI 43-101. Readers are advised that although such terms are recognized and required by Canadian securities regulations, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into mineral reserves. In addition, “inferred” mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource exists, is economically or legally mineable or will ever be upgraded to a higher category of mineral resource. Wesdome Gold Mines 2021 First Quarter Financial Results Conference Call North American Toll Free: + 1 (844) 202-7109International Dial-In Number: +1 (703) 639-1272Conference ID: 2264519 Webcast link: https://edge.media-server.com/mmc/p/87za7n4c Webcast can also be accessed under the News and Events section of the Company’s website (www.wesdome.com) ABOUT WESDOMEWesdome Gold Mines is a 100% Canadian focused Company that has had over 30 years of continuous gold mining operations in Canada. The Company’s strategy is to build an intermediate gold producer, producing 200,000+ ounces from two mines in Ontario and Quebec. The Eagle River Complex in Wawa, Ontario is currently increasing gold production from the high-grade Eagle River Underground Mine. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec. The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tonne-per-day mill. The Company is currently completing a PFS in support of a production restart decision. The Company is in the process of divesting of its Moss Lake gold deposit, located 100 kilometres (“kms”) west of Thunder Bay, Ontario. The Company has approximately 139.4 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO.” For further information, please contact: Duncan MiddlemissorLindsay Carpenter DunlopPresident and CEO VP Investor Relations416-360-3743 ext. 2029 416-360-3743 ext. 2025duncan.middlemiss@wesdome.com lindsay.dunlop@wesdome.com 220 Bay St, Suite 1200 Toronto, ON, M5J 2W4 Toll Free: 1-866-4-WDO-TSX Phone: 416-360-3743, Fax: 416-360-7620 Website: www.wesdome.com This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. 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. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Wesdome Gold Mines Ltd.Summarized Operating and Financial Data(Unaudited, expressed in thousands of Canadian dollars, except per share and per unit amounts and otherwise indicated) Three Months Ended March 31, 2021 2020Operating data Milling (tonnes) Eagle River 53,540 55,874Mishi 17,219 11,047Throughput 2 70,759 66,921Head grades (g/t) Eagle River 12.8 14.0Mishi 2.5 2.5Recovery (%) Eagle River 97.1 97.3Mishi 84.8 74.8Production (ounces) Eagle River 21,396 24,457Mishi 1,169 665Total gold produced 2 22,564 25,122Total gold sales (ounces) 3 22,457 26,500 Eagle River Complex (per ounce of gold sold) 1 Average realized price$2,223$2,162Cash costs 1,076 1,120Cash margin$1,147$1,042All-in Sustaining Costs 1$1,497$1,423 Mine operating costs/tonne milled 1$335$425Average 1 USD → CAD exchange rate 1.2660 1.3449 Cash costs per ounce of gold sold (US$) 1$850$833All-in Sustaining Costs (US$) 1$1,182$1,058 Financial Data Cash margin 1$21,776$27,619Net income$7,103$11,513Net income adjusted 1$7,103$11,513Earnings before interest, taxes, depreciation and amortization 1$18,662$25,414Operating cash flow$22,033$33,491Free cash flow$99$16,734Per share data Net income$0.05$0.08Adjusted net income 1$0.05$0.08Operating cash flow 1$0.16$0.24Free cash flow 1$0.00$0.12 Wesdome Gold Mines Ltd.Consolidated Statements of Financial Position(Expressed in thousands of Canadian dollars) As at March 31, 2021 As at December 31, 2020 Assets Current Cash and cash equivalents $ 63,884 $63,480 Receivables and prepaids 3,999 4,243 Sales tax receivable 4,773 4,731 Inventories 13,606 12,451 Non-current assets held for sale 10,326 - Total current assets 96,588 84,905 Restricted cash 657 657 Deferred financing cost 960 827 Mineral properties, plant and equipment 132,047 128,670 Exploration properties 145,097 143,524 Total assets $ 375,349 $358,583 Liabilities Payables and accruals $ 25,117 $21,123 Income and mining tax payable 4,378 3,481 Current portion of lease liabilities 6,243 5,901 Total current liabilities 35,738 30,505 Lease liabilities 5,723 5,604 Deferred income and mining tax liabilities 41,491 37,354 Decommissioning provisions 21,813 22,270 Total liabilities 104,765 95,733 Equity Equity attributable to owners of the Company Capital stock 180,802 179,540 Contributed surplus 5,841 6,472 Retained earnings 83,941 76,838 Total equity attributable to owners of the Company 270,584 262,850 $ 375,349 $358,583 Wesdome Gold Mines Ltd.Consolidated Statements of Income (loss) and Comprehensive Income (loss)(Expressed in thousands of Canadian dollars except for per share amounts) Three Months Ended March 31 2021 2020 Revenues $ 45,973 $57,332 Cost of sales (30,264) (37,590) Gross profit 15,709 19,742 Other expenses Corporate and general 2,391 1,971 Stock-based compensation 310 404 2,701 2,375 Operating income 13,008 17,367 Interest expense (259) (324) Accretion of decommissioning provisions (110) (125) Interest and other income (303) 364 Income before income and mining taxes 12,336 17,282 Income and mining tax expense Current 1,096 2,270 Deferred 4,137 3,499 5,233 5,769 Net income and total comprehensive income $ 7,103 $11,513 Earnings per share Basic $ 0.05 $0.08 Diluted $ 0.05 $0.08 Weighted average number of common shares (000s) Basic 139,732 138,464 Diluted 142,617 142,024 Wesdome Gold Mines Ltd.Consolidated Statements of Total Equity(Expressed in thousands of Canadian dollars) Capital Contributed Retained Total Stock Surplus Earnings Equity Balance, December 31, 2019 $174,789 $5,590 $26,123 $206,502 Net income for the period ended March 31, 2020 - - 11,513 11,513 Exercise of options 682 - - 682 Value attributed to options exercised 324 (324) - - Value attributed to RSUs exercised 577 (577) - - Stock-based compensation - 404 - 404 Balance, March 31, 2020 $176,372 $5,093 $37,636 $219,101 Balance, December 31, 2020 179,540 6,472 76,838 262,850 Net income for the period ended March 31, 2021 - - 7,103 7,103 Exercise of options 321 - - 321 Value attributed to options exercised 155 (155) - - Value attributed to RSUs exercised 786 (786) - - Stock-based compensation - 310 - 310 Balance, March 31, 2021 $ 180,802 $ 5,841 $ 83,941 $ 270,584 Wesdome Gold Mines Ltd.Consolidated Statements of Cash Flows(Unaudited, expressed in thousands of Canadian dollars) Three Months Ended March 31 2021 2020 Operating Activities Net income 7,103 11,513 Depreciation and depletion 6,067 7,877 Stock-based compensation 310 404 Accretion of decommissioning provisions 110 125 Deferred income and mining tax expense 4,137 3,499 Amortization of deferred financing cost 106 62 Interest expense 259 324 Foreign exchange loss on lease financing (30) 351 18,062 24,155 Net changes in non-cash working capital 4,170 10,656 Mining and income tax paid (199) (1,320) Net cash from operating activities 22,033 33,491 Financing Activities Exercise of options 321 682 Deferred financing cost (239) (30) Repayment of borrowings - (3,636) Repayment of lease liabilities (1,516) (1,057) Interest paid (259) (324) Net cash used in financing activities (1,693) (4,365) Investing Activities Additions to mining properties (8,519) (6,546) Additions to exploration properties (11,899) (9,154) Net changes in non-cash working capital 482 315 Net cash used in investing activities (19,936) (15,385) Increase (decrease) in cash and cash equivalents 404 13,741 Cash and cash equivalents - beginning of the period 63,480 35,657 Cash and cash equivalents - end of the period 63,884 49,398 Cash and cash equivalents consist of: Cash $ 63,884 $49,398 $ 63,884 $49,398 PDF available: http://ml.globenewswire.com/Resource/Download/dcdb6dd2-f953-4473-a67b-5f6d277324d6

2021-05-12 - MINING.COM

Rising premium iron ore demand Quebec’s time to shine

Champion Iron says it is capitalising on the global pivot to using premium-grade iron ore to make steel.

2021-05-12 - Yahoo! Finance: LR.V News

Luminex Resources Announces Closing of C$12.5 Million Private Placement

Luminex Resources Corp. (TSXV: LR) (the Company or Luminex) is pleased to announce the closing of its previously announced private placement financings (refer to the Company's press releases dated April 21, 2021 and April 23, 2021) to raise an aggregate of approximately C$12.5 million (the Offering). A total of 10,152,000 common shares (Shares) were sold at a price of C$0.72 per Share (the Offering Price) under the brokered portion of the Offering, and an additional 7,210,000 Shares were sold at the Offering Price under the non-brokered portion of the Offering. The brokered portion of the Offering was completed through a syndicate of agents (the Agents) led by Haywood Securities Inc., and including PI Financial Corp., and Red Cloud Securities Inc.

2021-05-12 - Yahoo! Finance: GRDM.V News

Grid Metals Corp. Announces Private Placement

Not for distribution to United States Newswire Services or for dissemination in the United StatesTORONTO, ON / ACCESSWIRE / May 12, 2021 /Grid Metals Corp. (the Company) (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce a non-brokered private placement to raise gross proceeds of up to C$3,000,000 (the Offering) from the sale of a combination of the following: * non-flow-through units of the Company (the Units) to be sold at a price of C$0.

2021-05-12 - Yahoo! Finance: VQA.V News

Pilar Gold Inc. to Acquire Valterra's Brazilian Assets for $2.4 Million

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Valterra Resource Corporation (TSXV: VQA) (OTCQB: VRSCF) (Valterra or the Company) reports that the Board of Directors has approved the sale of Poconé Mining Mineração Ltda (PMM), which holds a 100% interest in the Lima gold property and a binding agreement to purchase a 100% interest in the Livramento gold property, both located in the Poconé Mining District, Brazil, to Pilar Gold Inc. (Pilar ...

2021-05-12 - MINING.COM

Analysts not convinced the iron ore price run has legs

“High iron ore prices in early 2021 are unsustainable, but market fundamentals remain strong, says Moody’s senior VP Barbara Mattos.

2021-05-12 - MINING.COM

Kinross aims for carbon neutrality by 2050

Kinross produced 558,777 gold-equivalent ounces (GEOs) in Q1, compared to 567,327 GEOs produced in the same quarter of 2020.

2021-05-12 - MINING.COM

Teck donates C$500,000 to UNICEF Canada to support covid-19 response in India

This donation is part of Teck’s $20 million covid-19 Response Fund, supporting critical social initiatives and increased healthcare capacity in the communities in which Teck operates and globally.

2021-05-12 - MINING.COM

Record gold output, but Hudbay posts loss in Q1

Despite strong metal prices, revenue fell to $313.6 million for the period, compared to $322,3 million for the last quarter of 2020.

2021-05-12 - Yahoo! Finance: TECK-B.TO News

Einhorn Touts Teck Resources With Copper Rally Enduring

(Bloomberg) -- Greenlight Capital’s David Einhorn said he recommend shares of Canadian miner Teck Resources Ltd. amid strong demand for copper and other commodities.The pipeline of potential new copper capacity is low, and it takes a long time to create new mines, the hedge fund manager said Wednesday at the Sohn Investment Conference, which was held virtually this year. Demand is poised to outstrip supply in 2024, leading to higher copper prices, Einhorn said.The gathering pace of a global recovery from the pandemic has driven up the prices of commodities from copper to corn, with the Bloomberg Commodity Spot Index climbing to a decade high.Einhorn, 52, ticked off several catalysts for higher copper prices, including Bitcoin mining and a “gold rush” in electric vehicles, which contain four-times more copper than conventional cars. Vast amounts of copper wiring are also needed in roadside chargers to keep them running.Teck Resources, which Einhorn described as “overlooked,” has underperformed mining peer Freeport-McMoran Inc. over the past year. Teck trades at two-third of Freeport’s price-to-earnings multiple “and has much better growth prospects,” he said, noting that the Vancouver-based company is in the middle of an expansion project in Chile.Its stock has surged about 190% in the past year, while Freeport-McMoran has almost quintupled.Greenlight began building its Teck stake in the second-quarter of 2020, regulatory filings show. The miner’s shares, currently trading at about C$25, are worth roughly C$59 apiece with copper at $4.50 a pound, Einhorn said. Copper for July deliver is currently trading at about $4.73 a pound in New York.Greenlight, which oversaw $2.2 billion at the start of the year, gained 2.4% through April, according to a person familiar with the matter. While Einhorn’s value-investing strategy has fallen out of step with markets in recent years, he has vowed to rework his portfolio by making fewer, more concentrated bets.For more on the Sohn Investment Conference, click here for our TOPLive blog.(Updates with investment rationale in fifth paragraph, stock performance in sixth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

2021-05-12 - Yahoo! Finance: PTU.V News

Applications open for 2021 EU-Canada Young Journalist Fellowship

OTTAWA, ON, May 12, 2021 /CNW/ - The Delegation of the European Union to Canada and the Canadian Association of Journalists (CAJ) are thrilled to launch the 2021 edition of the European Union-Canada Young Journalist Fellowship.Deadline for submissions is 15 September 2021.

2021-05-12 - Yahoo! Finance: GDM.V News

Goldstar Announces Non-Brokered Private Placement, Completes Permitting, Prepares for Diamond Drilling

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES MONTREAL, May 12, 2021 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce a non-brokered private placement of flow-through shares of up to a maximum of $720,000. Furthermore, Goldstar announces that the permitting is now complete with respect to the upcoming drilling program on its Anctil property, located in Québec, Canada and that it has secured a drilling contractor to carry out the program. Private Placement The non-brokered private placement will consist of a maximum of 4,000,000 flow-through common shares (“Flow-Through Shares”) to be issued at a price of $0.18. The maximum gross proceeds to be raised under this private placement offering (the “Offering”) is $720,000. Each Flow-Through Share will consist of one common share of the Corporation to be issued as a “flow-through share” as defined in the Income Tax Act (Canada). The proceeds from the issuance of the Flow-Through Shares will be used to incur Canadian Exploration Expenses on properties of the Corporation located in the Province of Québec. In respect of subscriptions sourced by an eligible finder (“Finder”), the Corporation will issue to the Finder common shares equal to 8% of the number of Flow-Through Shares subscribed. Closing of the Offering is subject to all applicable regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”). All securities to be issued pursuant to the Offering will be subject to a four month hold period commencing on the Closing Date, in accordance with applicable Canadian securities laws, in addition to any other restrictions applicable under the policies of the Exchange. Permitting The Corporation has completed permitting on its Anctil property. Goldstar expects to begin its first phase diamond drilling program in late May or early June. The upcoming drilling program is intended to investigate the new target area of approximately 1 kilometre long by 0.8 kilometre wide south of Anctil Lake identified during the Fall 2020 prospecting campaign. This target area, where almost no drilling was performed in the past, is open both to the west and the east. Historical drilling done in 1987 by Argentex Resource Exploration Corp., returned in hole LA-87-6 values of up to 3.5 g/t Au over 0.9 m between 101.6 and 102.5 m and up to 36.1 g/t Au over 0.9 m from 127.9 to 128.8 m in the surrounding host rocks consisting of mafic and felsic volcanic rocks, less than 25 metres away from the altered tonalite and host rocks contact. The hole LA-87-6 is reported to have a total length of 134 m and is believed to have tested the northern edge of the new target area that extends a few hundred metres to the south. The Corporation cautions that these gold values are historical in nature and, thus, not NI 43-101 compliant. In addition, these values may not be representative of the mineralization that may be present on the property. Diamond Drilling The upcoming diamond drilling program will consist of between 10 to 12 holes totalling 2,500 metres. Goldstar is currently in the process of preparing the sites for drilling access. David Crevier, CEO comments “Goldstar is very pleased to be undertaking its first phase drilling program on the Anctil property. The newly interpreted northeast structure opens up the considerable potential of this target. This drilling campaign will provide new information to further our understanding of the potential at Anctil.” Disclosure The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., a consultant of the Corporation. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. For further information, please contact: David CrevierChairmanTelephone: 514-284-3663dcrevier@goldstarminerals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

2021-05-12 - The Northern Miner

Iron ore prices hit new record

The price for iron ore surged to a record US$237.57 per tonne on May 12 as strong Chinese demand continued to outpace supply. The record...

The post Iron ore prices hit new record appeared first on The Northern Miner.

2021-05-12 - Yahoo! Finance: FRE.V News

UPDATE 2-Judge denies Citigroup a longer freeze on botched Revlon transfer

A federal judge on Wednesday rejected Citigroup Inc's request to extend a freeze on about $504 million it accidentally sent a group of Revlon Inc lenders, while it appeals his decision that they can keep the money. U.S. District Judge Jesse Furman in Manhattan said it was tempting to extend the freeze, given the large dollar amount and the bank's argument that lenders should do the right thing rather than enjoy a windfall from its unprecedented mistake. But he said an appeal would face an uphill battle and Citigroup had not demonstrated irreparable harm absent a freeze.

2021-05-12 - Yahoo! Finance: FRE.V News

Judge denies Citigroup a longer freeze on botched Revlon transfer

NEW YORK (Reuters) -A federal judge on Wednesday rejected Citigroup Inc's request to extend a freeze on about $504 million it accidentally sent a group of Revlon Inc lenders, while it appeals his decision that they can keep the money. U.S. District Judge Jesse Furman in Manhattan said it was tempting to extend the freeze, given the large dollar amount and the bank's argument that lenders should do the right thing rather than enjoy a windfall from its unprecedented mistake. But he said an appeal would face an uphill battle and Citigroup had not demonstrated irreparable harm absent a freeze.

2021-05-12 - MINING.COM

“China is overproducing, we would expect to see some slowing down in H2” — Ferrexpo CEO

China’s massive physical purchases of iron ore have been the primary driver of the post-pandemic price rally.

2021-05-12 - MINING.COM

i-80 Gold shares up after land acquisition at Getchell

Company has completed a property acquisition with members of the Christison family and Seven Dot Cattle Co. in Humboldt County, Nevada.

2021-05-12 - Yahoo! Finance: IPT.V News

IMPACT Silver Announces Results of Interpretation of Historical Geophysical Surveys over Southern Claims

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - IMPACT Silver Corp. (TSXV: IPT) (IMPACT or the Company) is pleased to announce that it has received the report prepared by Condor Consulting, Inc. (Condor) on analysis and interpretation of the geophysical surveys carried out in the 1990's over the Capire area of the Royal Mines of Zacualpan Project. The data analyzed included Induced Polarization (IP), airborne Magnetometer, ground and airborne EM, and Airborne ...

2021-05-12 - The Northern Miner

Black Iron negotiates offtake and financing with Cargill

Black Iron (TSX: BKI; US-OTC: BKIRF) will grant Cargill offtake rights for an initial ten years on the first four million tonnes of annual production...

The post Black Iron negotiates offtake and financing with Cargill appeared first on The Northern Miner.

2021-05-12 - The Northern Miner

Barksdale acquires Arizona copper projects from Rio Tinto

Barksdale Resources (TSXV: BRO) has entered an definitive agreement to acquire two copper exploration projects located in Santa Cruz County, Arizona, from Kennecott Exploration Company,...

The post Barksdale acquires Arizona copper projects from Rio Tinto appeared first on The Northern Miner.

2021-05-12 - Yahoo! Finance: TECK-B.TO News

Teck Donates $500,000 to UNICEF Canada to Support COVID-19 Response in India

VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced a $500,000 contribution to UNICEF Canada in support of life-saving COVID-19 response efforts in India. “Our donation to UNICEF Canada will go towards the immediate life-saving response as well as long-term hospital infrastructure in the most impacted areas of India,” said Don Lindsay, President and CEO, Teck. “COVID-19 is taking a terrible toll on the people of India and our hearts go out to them. This funding will go towards urgent healthcare requirements and help support those most in need during this incredibly challenging time.” “We are grateful to Teck for taking immediate action to meet the most pressing needs of families in India. With the COVID-19 case count rising by the minute in India, UNICEF is racing to avert further tragic loss of life and to protect children’s futures,” said David Morley, President & CEO of UNICEF Canada. “Teck’s generous contribution will enable us to increase access to life-saving oxygen in India while also helping to provide the infrastructure to allow medical facilities across the country be better equipped to treat patients for years to come.” The funding will be directed by UNICEF Canada for support initiatives in India including procurement of: Increasing access to life-saving oxygen: A new on-site Oxygen Generation Plant (OGP) can provide enough oxygen for a 500 bed hospital. Hospitals treating severe/critical cases will be prioritized – but with a lifespan of 20 years, each OGP unit will continue to save lives of ill patients for years to come, including neonatal and obstetric care, surgery and intensive care. Boosting testing capacity: By procuring additional RT-PCR machines UNICEF will help boost test processing capacity in some of the worst affected districts. Lasting up to 10 years, each new testing unit will not only speed up identification and treatment of COVID-19 infections, but provide a legacy for testing for other deadly diseases such as TB, HIV, HPV and streptococcus, when COVID-19 declines. UNICEF Canada support will focus on the most affected regions of India. This donation is part of Teck’s $20 million COVID-19 Response Fund, supporting critical social initiatives and increased healthcare capacity in the communities in which Teck operates and globally. Through the fund, Teck has also made a $1 million contribution to UNICEF Canada in support of the Access to COVID-19 Tools (ACT) Accelerator, a global partnership dedicated to the equitable distribution of vaccines, treatment and testing for COVID-19. Teck further donated $500,000 to UNICEF (in collaboration with the World Health Organization Solidarity Response Fund) to provide critical medical and sanitation supplies, equipment and training in over 180 countries. For more information on Teck’s response to COVID-19, visit teck.com/updates. About TeckAs one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Green metals and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources. About UNICEFUNICEF is the world’s leading humanitarian organization focused on children. We work in the most challenging areas to provide protection, healthcare and immunizations, education, safe water and sanitation and nutrition. As part of the United Nations, our unrivaled reach spans more than 190 countries and territories, ensuring we are on the ground to help the most disadvantaged children. While part of the UN system, UNICEF relies entirely on voluntary donations to finance our life-saving work. Please visit unicef.ca and follow us on Twitter, Facebook and Instagram. Teck Media Contact:Chris Stannell Public Relations Manager604.699.4368chris.stannell@teck.com Teck Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis604.699.4621fraser.phillips@teck.com UNICEF Canada Media Contact:Marie-Claude RouillardCommunications Manager514.232.4510MRouillard@unicef.ca

2021-05-12 - Yahoo! Finance: BRO.V News

IIROC Trading Resumption - BRO

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2021-05-12 - CuMoCo

American CuMo Mining announces Silver Purchase Financing Approved for Vienna Exchange Listing

Vancouver, B.C., May 12, 2021: American CuMo Mining Corporation (TSXV: MLY; OTC Pink: MLYCF) is pleased to announce that it has received approval from the Vienna Stock Exchange for admittance to trading for its majority owned subsidiary, International CuMo Mining Corporation’s (“ICMC”) previously announced Silver Financing (see news release dated April 7, 2021). The units […]

The post American CuMo Mining announces Silver Purchase Financing Approved for Vienna Exchange Listing appeared first on CuMoCo.

2021-05-12 - The Northern Miner

Canadian Gold Snapshot: Eight juniors seeking more yellow metal

High gold prices continue to make the precious metal one of the most sought after metals in Canada. Even companies with production are exploring for...

The post Canadian Gold Snapshot: Eight juniors seeking more yellow metal appeared first on The Northern Miner.

2021-05-12 - Yahoo! Finance: FNC.V News

Fancamp Special Committee Formally Launches Forensic Investigation Into Breaches of Fiduciary Duty and Multiple Apparent Incidents of Misconduct by Disgruntled Director Mr. Peter H. Smith

Fancamp Exploration Ltd. (Fancamp or the Corporation) (TSX Venture Exchange: FNC) today announced that its special committee of directors (the Special Committee), who are disinterested in the proposed business combination with ScoZinc Mining Ltd. (ScoZinc) (the Transaction) and independent from Mr. Peter H. Smith, has formally launched a forensic investigation into numerous and apparent ongoing incidents of misconduct by Mr. Smith, a disgruntled director and former President and CEO, who recently had his consulting agreement terminated for cause by the Corporation.

2021-05-12 - Yahoo! Finance: GPG.V News

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2021-05-12 - The Northern Miner

Deadly shootout in Brazil’s Amazon as illegal miners enter indigenous land

At least three illegal gold miners inside the Yanomami reservation in northern Brazil have died, after they opened fire with automatic weapons on an indigenous...

The post Deadly shootout in Brazil’s Amazon as illegal miners enter indigenous land appeared first on The Northern Miner.

2021-05-12 - Yahoo! Finance: GGM.V News

Granada Gold Hits Massive Rare Earth and Alkali Metals Zone 1.6 Kilometers from Discovery Hole GR-20-20

Granada Gold Mine Inc. (TSXV: GGM) (the Company or Granada) is pleased to announce that Hole GR-20-22 drilled to a depth of 1626 meters on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.

2021-05-12 - Yahoo! Finance: GPG.V News

Grande Portage Resources Announces Updated Resource Estimate for Its Herbert Gold Project- 97% Increase for the Indicated Gold Category and 29% Increase for the Inferred Gold Category

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) (Grande Portage or the Company) is pleased to report a new NI 43-101 Independent Mineral Resource Estimate for its 100% controlled Herbert Gold Project located in S.E. Alaska. The Mineral Resource estimate has a base case mineral resource cut-off grade of 3.00 grams per tonne gold (gpt Au) is capped at 125 gpt and ...

2021-05-12 - Yahoo! Finance: UCU.V News

Ucore Chairman & CEO Provides Strategic Update to Shareholders: Taking Action Today to Secure Tomorrow

Provided $1.9 million of funding to IMC for the further advancement of the RapidSX™ technology for commercial deployment; including a $1-million tranche transferred on April 26, 2021Allocated funding for an Independent Evaluation of RapidSX™ technology for the separation of REEs - scheduled for completion in Summer 2021Allocated $750,000 to further ongoing specific business-development activities and initial Alaska SMC engineering to ensure that project timelines are achievedFinalizing a $400,000 Summer 2021 work program at Bokan ...

2021-05-12 - Yahoo! Finance: STS.V News

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2021-05-12 - Yahoo! Finance: SSRM.TO News

Silver Standard (SSRM) Q1 Earnings Top Estimates, Shares Up

Silver Standard's (SSRM) Q1 earnings soar on higher number of gold equivalents sold, and increased realized gold and silver prices.

2021-05-12 - Yahoo! Finance: FR.TO News

First Majestic (AG) Rallies 10% Despite Y/Y Earnings Fall in Q1

First Majestic (AG) first-quarter top line improves on a year-over-year basis on higher average realized silver price.

2021-05-12 - Yahoo! Finance: XTT.V News

X-Terra Resources drills more gold at Northwest

X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (X-Terra) is pleased to announce that it has drilled gold in five of eight holes at the Rim target on the Northwest property located in Restigouche county, New Brunswick.

2021-05-12 - The Northern Miner

Mining legacy processes setting the industry behind in sustainability targets – report

A report commissioned by Glasgow-based engineering company the Weir Group warns that the total amount of power used in hard rock mining is equal to...

The post Mining legacy processes setting the industry behind in sustainability targets – report appeared first on The Northern Miner.

2021-05-12 - Yahoo! Finance: BUD.V News

Satori Appoints Ron Stewart as Technical and Corporate Advisor

Toronto, Ontario--(Newsfile Corp. - May 12, 2021) - Satori Resources Inc. (TSXV: BUD) (Satori or the Company) is pleased to announce that Mr. Ron Stewart, a capital markets professional and technical mining advisor, has joined Satori's team, bringing a perspective that will be instrumental in Satori's growth plan. He will provide an interface between Satori and the mining and mining finance community, particularly during this time when the Company is focused on advancing its ...

2021-05-12 - Yahoo! Finance: WHN.V News

Westhaven Hits High-Grade Gold at Multiple Zones at Shovelnose: 15.97 Metres of 9.15 g/t Gold and 27.43 g/t Silver at FMN Zone and 79.00 Metres of 2.73 g/t Gold and 15.78 g/t Silver at South Zone

Image 1 Plan Map of Current Drilling Image 2 Cross Sections Image 3 Cross Sections Image 4 Cross Sections VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia. Recent Highlights: SN21-161 (FMN: 220.32-236.29m) 15.97m of 9.15 g/t Au and 27.43 g/t Ag, including 6.13m of 11.07 g/t Au and 34.26 g/t Ag, and 2.49m of 28.56 g/t Au and 79.12 g/t Ag. SNR21-02 (South Zone: 167.00-246.00m) 79.00 metres (m) of 2.73 g/t gold (Au) and 15.78 g/t silver (Ag), including 12.44m of 6.35 g/t Au and 3.38 g/t Ag.SN21-158 (FMN: 93.22-150.90m) 57.68m of 0.68 g/t Au and 11.19 g/t Ag, including 3.46m of 9.46 g/t Au and 151.82 g/t Ag, including 0.90m of 31.70 g/t Au and 529.00 g/t Ag. SN21-160 (South Zone: 275.09-311.40m) 36.31m of 0.72 g/t Au and 2.52 g/t Ag, including 6.53m of 2.23 g/t Au and 4.59 g/t Ag. Gareth Thomas, President & CEO of Westhaven Gold, states: “With this significant high-grade gold-silver drill intercept at the FMN Zone, our theory that more high-grade centres occur along this major NW-SE structure has proven correct. Hole SN21-161 (15.97m of 9.15 g/t Au and 27.43 g/t Ag) is approximately 700m away from the Franz Zone discovery drill hole SN20-101 (7.78m of 14.84 g/t Au and 40.68 g/t Ag). Our Exploration Manager, Peter Fischl talked about a “kink” in the structure and its importance for potential mineralization along key structures exhibiting strike-slip movement. Our team is gaining a better understanding of the structural controls on the Shovelnose Property which is important as we focus the majority of the fully funded 2021 drilling on exploration targets on this large and underexplored property. In addition, drilling in the South Zone, which is geared towards the completion of an inaugural maiden resource estimate by years-end, continues to intersect significant widths of high-grade gold-silver mineralization and demonstrate continuity of veins (SNR21-02: 79.00m of 2.73 g/t gold and 15.78 g/t silver).” Peter Fischl, Exploration Manager, adds: “Drilling this Spring at Shovelnose continues to show the potential of the FMN target. Vein Zone 1 continues to be traced to the northwest where it appears to be deflecting slightly northward, outlining a slight “kink” of about 20o off the main structure. This “kink” in Vein Zone 1 is helping focus stronger dilation along this structure where significant strike-slip movement has likely occurred. Previous drilling southeast of FMN at South Zone had encountered stronger veining in rhyolite, suggesting some lithological control on gold mineralization. Hole SN21-161 intersected Vein Zone 1 in a thick section of andesite, suggesting it is not lithology, but deflections in the structure that are ultimately controlling stronger gold mineralization. Significant quartz veining continues to be encountered northwest of hole SN21-161, as seen in hole SN21-162, a hundred-metre step-out to the northwest (assays pending). A second vein zone was encountered deeper in a number of holes drilled at FMN. This zone is now designated as “Vein Zone 4”. It has been traced along a northwest strike for 350 metres, consisting of 2 to 10% cm-scale quartz veinlets over widths of up to 90m, locally with quartz breccia veins of up to 1m wide. The shallower portions of this zone will be targeted to follow-up on the elevated gold assays returned in the deeper portions of this zone.” FMN Zone Hole SN21-158 is drilled on Section F0600 at FMN. It is an upper cut to hole SN21-155 (0.16 Au over 36.52m). It hit Vein Zone 1 at 135.70-159.00m, hosted in andesite flows and heterolithic tuff and comprised of 15 to locally 60% banded quartz-adularia +/- ginguro veins to 23cm wide. Hole SN21-161 is a 100m step-out northwest of hole SN21-158 (31.70 Au over 0.90m). This hole intersected Vein Zone 1 consisting of the following andesite hosted sequence: a section of brecciated banded quartz-adularia-ginguro veining at 220.30-228.10m followed by banded quartz-adularia +/- ginguro veinlets to 233.00m in rhyolite tuff. The veined tuff is followed by heterolithic breccia with 3-10% quartz fragments to 245.50m. South Zone Hole SNR21-02 is on section 1025 and is an undercut to SNR21-01. Hole SN21-160 is drilled at South Zone on Section 1025 and is an undercut of holes SN21R-02 (2.73 Au over 79.00m). It encountered Vein Zone 1 at 270.80-324.00m depth (about 1100m elevation), consisting of quartz-adularia +/- ginguro veins and breccia veins to 7.4m wide hosted in rhyolite and rhyolitic tuff. Table of Recent Results (Newer Holes in Bold): Hole_IDTargetFrom(m) To (m)Int (m)Au (g/t)Ag (g/t)High Au(ppb)SN21-150FMN25.7134.468.750.704.142880including 32.8034.461.662.272.972880SN21-151FMN321.22351.5030.280.2615.49957including 332.00338.006.000.5834.70957and 499.00503.314.310.2427.53332SN21-152South Zone291.00310.0019.000.3826.861415including 291.00293.002.001.21144.501415SN21-153FMN-----212SN21-154South Zone365.89369.153.260.7233.901725and 382.00385.053.050.2320.56288SN21-155FMN302.42338.9436.520.169.44462including 322.60326.003.400.4426.19462SN21-156FMN323.87327.443.570.227.12256SN21-157South Zone302.88318.2915.410.3717.481215including 306.85313.006.150.6825.431215SN21-158FMN93.22150.9057.680.6811.1931700including 139.74143.203.469.46151.8231700including 139.74140.640.9031.70529.0031700SN21-159South Zone343.15352.128.970.7920.393190including 347.17350.173.001.9839.143190and 361.60371.009.401.8815.8513100including 364.59366.161.578.7623.7713100SN21-160South Zone275.09311.4036.310.722.525150including 276.00290.0014.001.583.465150including 276.00282.536.532.234.595150SN21-161FMN220.32236.2915.979.1527.4330500including 220.87227.006.1311.0734.2623500including 226.00227.001.0023.5052.6023500including 233.00235.492.4928.5679.1230500SNR21-01South Zone130.92162.0031.080.731.455710including 138.00144.306.302.463.425710and 180.23232.0051.774.2246.4284000including 202.15230.0027.857.5183.9484000including 205.00211.256.2520.11273.0757600including 227.96228.440.4884.00280.0084000SNR21-02South Zone167.00246.0079.002.7315.7828300including 187.00199.4412.446.353.3825800including 193.78197.443.6616.987.7325800including 219.28236.1116.836.0264.0428300including 220.03223.683.6514.82211.6428300 *A total of 31 holes have been drilled to date in 2021. Assays have now been released for 14 holes with an additional 17 holes pending assay* Please click the following link to the 2021 drill database table of assay results:https://www.westhavengold.com/projects/shovelnose-gold/maps/ On behalf of the Board of DirectorsWESTHAVEN GOLD CORP.Gareth Thomas Gareth Thomas, President, CEO & Director Qualified Person Statement Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release. QA/QC Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available. 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. About Westhaven Gold Corp. Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com Maps accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ea14d06a-4fc1-43bf-ad7b-a2fb9bbd7d09https://www.globenewswire.com/NewsRoom/AttachmentNg/2a488fec-740f-41ae-bad9-cb8c8373be7bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/9074a297-240d-40b7-b42d-24d5a06cfb40https://www.globenewswire.com/NewsRoom/AttachmentNg/f5bff132-4788-4320-970d-064018db0166

2021-05-12 - New Age Metals Inc.

New Age Metals Initiates Metallurgical Study at its Flagship River Valley Palladium Project

May 12, 2021 Rockport, Ontario – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) (“NAM” or “Company”) is pleased to announce initiation of a metallurgical study at its 100% owned flagship River Valley PGM Project near Sudbury, Ontario. ... Read more

2021-05-12 - Yahoo! Finance: LI.V News

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2021-05-12 - Yahoo! Finance: MEK.V News

Metals Creeks Increases Property Size in The Central Newfoundland Gold Belt

Thunder Bay, Ontario--(Newsfile Corp. - May 12, 2021) - Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the Company or Metals Creek) is pleased to announce that the company has increased through staking, the size of the River Road property to 508 claim units (12,700 hectares) in the Central Newfoundland Gold Belt.The River Road Property is located approximately 39.5 kms southwest of Newfound Golds Keats Zone, 4.5 kms northwest of the Beaver Brook Antimony mine, ...

2021-05-12 - Altamira Gold

Altamira Gold Sees Additional Exercise of Warrants Bringing Company’s Treasury to $6.1M Enabling an Aggressive 2021 Exploration Program

Ground IP Geophysical Program in progress at the Mutum Target, Apiacas Project Vancouver, British Columbia–(Newsfile Corp. – May 12, 2021) –  Altamira Gold Corp.’s (TSXV: ALTA) (FSE: T6UP) (OTC Pink:...

2021-05-12 - Yahoo! Finance: GPG.V News

IIROC Trading Halt - GPG

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2021-05-12 - Yahoo! Finance: OR.TO News

Osisko Gold Royalties Ltd. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 12, 2021 / Osisko Gold Royalties Ltd. (NYSE:OR) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 12, 2021 at 10:00 AM Eastern Time.

2021-05-12 - Yahoo! Finance: STS.V News

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2021-05-12 - Yahoo! Finance: GGD.TO News

Parral Generates $6.3M US of Free Cash Flow for Quarter Ending March 31, 2021

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (GoGold, the Company) is pleased to announce the release of financial results for the quarter ending March 31, 2021 with revenue of $13.2 million (all amounts are in U.S. dollars) from the sale of 541,608 silver equivalent ounces which provided cash flow from operations of $3.3 million.

2021-05-12 - Yahoo! Finance: SURG.V News

Surge Copper Announces 2021 Exploration Plans

Surge Copper Corp. (TSXV: SURG) (Frankfurt: G6D2) (Surge or the Company) is pleased to provide an outline of its 2021 planned exploration programs and strategy across its 121,800 hectare contiguous mineral claims located in the Huckleberry district in central British Columbia.

2021-05-12 - Yahoo! Finance: EDDY.V News

Eddy Adds M&A Specialist to the Board of Directors

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Edison Cobalt Corp (TSXV: EDDY) (EDDY or the Company) is pleased to announce the appointment of Gordon Jang, CPA, CMA to its Board of Directors and Chair of the Audit Committee.Gordon was previously the Vice-President of Finance and Accounting at Fortuna Silver Mines and held senior positions at Augusta Resources, Lundin Mining and Pan American Silver and brings a wealth of experience in the ...

2021-05-12 - Yahoo! Finance: GRAT.V News

Gratomic Announces New Director

TORONTO, ON / ACCESSWIRE /May 12, 2021 / Gratomic Inc. (Gratomic, GRAT or the Company) (TSXV:GRAT)(OTCQX:CBULF)(FRA:CB82) announces that Alex Helmel has resigned as an Independent Director on the Company's Board.

2021-05-12 - Yahoo! Finance: CQR.V News

Conquest Closes Acquisition of DGC Property from Teck Resources Limited and Provides Exploration Update

Toronto, Ontario--(Newsfile Corp. - May 12, 2021) - Conquest Resources Limited (TSXV: CQR) (Conquest or the Company) is pleased to announce the closing of the acquisition of the DGC Property from Teck Resources Limited. (Teck) (see Press Release dated 2021-03-16). The Company has issued 1.8 million shares to Teck and the subject leases have been transferred to Conquest. The DGC Property is subject to a 2% NSR in favour of Teck.The acquisition consolidates Conquests ...

2021-05-12 - Yahoo! Finance: FISH.V News

Sailfish Receives Remaining US$3 Million from the Monetization of a Portion of the NSR on the Tocantinzinho Gold Project and Receives First Delivery from the San Albino Gold Stream

Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the Company or Sailfish) is pleased to announce that, further to its news release dated March 17, 2021, it has received the remaining US$3 million in connection with the royalty transfer agreement (the Transaction) whereby a post-buy-down interest of 0.75% of the Company's up to 3.5% NSR held on the Tocantinzinho gold project located in northern Brazil has been transferred to Metalla Royalty & Streaming Ltd. The Company has now received full payment of the US$9 million in purchase consideration in connection with the Transaction.

2021-05-12 - Yahoo! Finance: SURG.V News

Surge Copper Announces $10.0 Million Bought Deal Private Placement Financing

VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce that the Company has entered into an agreement with PI Financial Corp. (“PI Financial”), pursuant to which a syndicate of underwriters led by PI Financial have agreed to purchase 4,445,000 units (the “Units”), 3,775,000 flow-through units (the “FT Units”), and 9,775,000 charity flow-through units (the “Charity FT Units”) of the Company for aggregate gross proceeds of approximately C$10.0 million (the “Offering”). The Units, FT Units, and Charity FT Units will be offered by way of a private placement pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company and the underwriters. The Company is pleased to announce it has received a substantial commitment from Altius Minerals Corporation to subscribe under the Offering. Each Unit will be sold at a price of C$0.45 (the “Unit Offering Price”) and consist of one common share and one-half of one transferable common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each FT Unit will be sold at a price of C$0.53 (the “FT Unit Offering Price”) and consist of one flow-through common share and one-half of one Warrant to be issued on a non-flow through basis. Each Charity FT Unit will be sold at a price of C$0.615 (the “Charity FT Unit Offering Price”) and consist of one charity flow-through common share and one-half of one Warrant to be issued on a non-flow through basis. Each Warrant shall be exercisable into one additional common share for twenty-four months from closing at an exercise price of C$0.60 per Warrant. The Company has also granted the underwriters an option to increase the size of the offering (the “Underwriters’ Option”), which will allow the underwriters to offer up to an additional 20% of the Offering, on the same terms. The Underwriters’ Option may be exercised in whole or in part at any time prior to the closing of the Offering, in any combination of Units, FT Units, and Charity FT Units. The net proceeds raised from the Units will be used to fund ongoing project development expenditures, and for working capital and general corporate purposes. The aggregate gross proceeds raised from the FT Units and Charity FT Units will be used before 2023 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act (the “Qualifying Expenditures”). The Offering is expected to close on or about June 10, 2021 or such other date as agreed between the Company and the underwriters (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The Units, FT Units, and Charity FT Units are subject to a four month hold period from the date of closing of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Surge Copper Corp. The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit constrained NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and Indicated categories. The Company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits. Berg contains pit constrained 43-101 compliant resources of copper, molybdenum, and silver in the Measured and Indicated categories. Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits. On Behalf of the Board of Directors “Leif Nilsson”Chief Executive Officer For Further information, please contact:Telephone: +1 604 416 2978 or +1 604 558 5847info@surgecopper.comhttp://www.surgecopper.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as will, may, should, expects, plans, or anticipates or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company’s plans regarding the Berg Property and the Ootsa Property. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals, the ability to obtain adequate financing to conduct its planned exploration programs, inability to procure labour, equipment and supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus pandemic, and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

2021-05-12 - Yahoo! Finance: AL.V News

ALX Resources Corp. Provides Exploration Update for Saskatchewan and Ontario Projects

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (ALX or the Company) is pleased to provide an exploration update for its Saskatchewan and Ontario projects where exploration has been recently completed or is the subject of upcoming exploration activities.Firebird Nickel Project, Saskatchewan (Firebird)Firebird is currently the subject of an option agreement whereby Rio Tinto Exploration Canada Inc. (Rio Tinto) can earn up to an ...

2021-05-12 - Yahoo! Finance: GBML.V News

Global Battery Metals Announces Approval of First of Two Permits for the North West Leinster Lithium Exploration Drilling Program and Engagement of Drill Contractor

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the Company or GBML) is pleased to report that it has received licencing approval from Coillte, the Irish state-owned commercial body which manages all forestry and upon whose lands the North West Leinster Lithium Project is located. The final and pending approval is from the Government of Ireland's Department of the Environment, Climate and Communications. The Company ...

2021-05-12 - Yahoo! Finance: ECC.V News

Crescat Elects to Exercise its Participation Rights, Ethos to Proceed with $1.33 Million Charity Flow Through Offering at $0.24 Per Unit

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) (Ethos or the Company) announces its intention to carry out a non-brokered private placement of national charity flow-through units for gross proceeds of up to C$1,333,333 (the Offering). The Offering will consist of up to 5,555,555 flow through units priced at $0.24 per unit (each, a Unit). Each Unit will be comprised of one ...

2021-05-12 - Yahoo! Finance: FOM.V News

Foran Mining Intersects +15 Metres of Copper at McIlvenna Bay

Foran Mining Corporation (TSXV: FOM) (Foran or the Company) is pleased to announce that its 30,000m winter drill program at its 100% owned McIlvenna Bay deposit (McIlvenna Bay or the Deposit) continues to deliver stellar results. The latest five holes, which are comprised of infill drilling and the first step out hole results, support the potential to increase the projected mine life of the Deposit.

2021-05-12 - Yahoo! Finance: TLG.TO News

Troilus Expands Western Footprint of J Zone; Intersects 2.12 g/t AuEq Over 13 Metres and 1.10 g/t AuEq Over 68 Meters Within 200 Metres of Surface

Figure 1 Plan View Map of J Zone with Location of New Drill Results Figure 2 Section N14250; View of drill hole TLG-ZJ21-225 Figure 3 Section N14300; View of drill hole TLG-ZJ21-226 TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) reports positive drill results from the J Zone as part of the ongoing exploration and infill program on its 100%-owned Troilus Gold Project (“Troilus” or the “Project”), the largest gold and copper development project within the Frotêt-Evans Greenstone Belt in Quebec, Canada. The identification of a substantial new western extension of the J Zone, traced over a minimum of 200 metres in strike, previously modelled as waste within the pit shell proposed in the Preliminary Economic Assessment (“PEA”) (See August 31, 2020 press release), has the potential to add substantial value to the Company’s development model. Highlights from the J Zone drill results include: ZJ21-226 was drilled 50 metres beyond any previous historic holes, identifying a new parallel zone of gold mineralization within 200m from surface: 1.10 g/t AuEq over 68m, incl. 1.65 g/t AuEq over 10m2.23 g/t AuEq over 3m ZJ21-225 drilled 50m beyond all historic holes, defined strong mineral continuity to the northwest, an undrilled area of the PEA pit previously considered waste. Furthermore, excellent grades and widths were intersected over 300 metres beyond the PEA pit shell, extending down dip mineralization over 650 metres below surface: 1.01 g/t AuEq over 34m, incl. 1.40 g/t AuEq over 15m and 1.60 g/t AuEq over 5m, located 100m from surface and within the PEA pit shell2.12 g/t AuEq over 13m, incl. 7.13 g/t AuEq over 1m and 4.39 g/t AuEq over 3m, located outside of the PEA pit shell These results have defined new extensions of mineralization within and outside of the pit shell proposed in the PEA, one of which identified a new gold zone with continuous mineralization over 68 metres within 200m from surface (see drill hole TLG-ZJ21-226, Figure 3). Gold mineralization at the J Zone target currently covers an area of approximately 1.5km by 1km and remains open in all directions (see Figure 1). “The latest results from the J Zone drilling continue to validate our belief in the scale potential of the gold system on our property,” commented Justin Reid, CEO of Troilus Gold. “The Troilus Mine operated for 14 years starting in 1996, during a very weak gold environment which, among other factors, resulted in minimal expansion drilling outside of the main mineralized zones to replace the mine’s reserves. In the few years since acquiring Troilus, systematic drilling driven by a new geological model and an improved understanding of the structural controls of the mineralization has significantly expanded the footprint of mineralization across the entire deposit, including the most recent results in the J Zone where we identified new broad gold zones that are near surface and directly adjacent to the former operation. We expect these results to have a meaningful impact on the economics of the project.” These are the first results from the J Zone since it was extensively drilled during the successful 2019 mineral expansion program that showcased open pit potential at Troilus. In 2020, drilling focused primarily on the new and expanding Southwest Zone (see 2021 press releases dated Jan. 12, Feb. 9, Feb 24, Mar. 16, and Apr. 8), however 2 drills were mobilized to the J Zone earlier this year with the aim to continue improving drill resolution while defining the extent of the mineral boundaries. These intercepts are demonstrating new hanging wall mineral extensions that appear to be widening as they are drilled deeper, as has been observed in the lower levels of J Zone and the Southwest Zone. Furthermore, the new zone appears to be higher grade than the previously defined mineralization at J Zone. Additional drilling has been planned in this new area of interest and currently two drill rigs are focused on expansion and delineation in advance of a mineral resource update and Pre-Feasibility Study planned for completion in the second half of 2021. Troilus has completed 32,000 metres of drilling since January 2021 and intends to drill approximately 10,000 metres per month throughout the summer. Figure 1: Plan View Map of J Zone with Location of New Drill Resultshttps://www.globenewswire.com/NewsRoom/AttachmentNg/9a44a8ff-a067-4164-891c-1f36114ba9b1 Figure 2: Section N14250; View of drill hole TLG-ZJ21-225 https://www.globenewswire.com/NewsRoom/AttachmentNg/3ce6db97-124d-4576-96f6-ce4de212c3bf Figure 3: Section N14300; View of drill hole TLG-ZJ21-226 https://www.globenewswire.com/NewsRoom/AttachmentNg/dc0a1efd-480a-489a-9613-7f17415845f0 Table 1: New Southwest Zone Drill Results Highlights Hole From (m) To (m) Interval (m) Inside/Outside of PEA Pit ShellAu Grade (g/t) Cu Grade (%) Ag Grade (g/t) AuEq Grade (g/t) TLG-ZJ21-221 2202266Inside 0.810.202.331.09 2372381Inside 2.310.101.102.46 2782802Inside 1.680.202.951.97 3163171Inside1.430.051.001.50 32536035Inside 0.660.051.060.74incl.3333374Inside 1.350.061.311.44and3493589Inside 0.970.071.961.09 3663671Inside0.980.010.251.00 3743751Inside1.190.061.001.28 3783791Inside0.840.111.601.00 4074081Outside1.510.417.202.12TLG-ZJ21-222 1171181Inside1.550.050.251.62 1511565Inside0.540.191.370.81 2132141Inside1.210.1623.401.66 27230634Inside 0.520.060.830.61incl.2742795Inside 1.270.162.041.49and2952961Inside 1.370.040.601.43and3043051Inside 1.540.020.251.57 3333385Inside0.690.010.350.72 3433485Inside 1.610.091.601.74 3563593Inside0.770.030.370.81 3913921Outside1.670.021.401.71TLG-ZJ21-223 18821022Inside 0.530.161.120.75incl.19921011Inside 0.780.211.381.07and2002044Inside 1.190.382.801.72TLG-ZJ21-224 1501511Inside 0.910.783.901.96 1921931Inside1.360.243.801.71 20221513Outside0.420.140.920.62incl.2142151Outside 2.430.776.303.50TLG-ZJ21-225 58591Inside0.910.244.601.27 629634Inside0.620.273.961.01incl.70755Inside1.030.396.121.60and789315Inside0.860.375.621.40and78835Inside0.950.447.701.59 1251261Inside0.860.263.201.23 1561604Inside0.940.171.661.18 1651672Inside0.780.252.851.14 2702711Inside0.810.332.901.26 3693701Outside2.180.202.102.46 4494567Outside0.720.201.841.00incl.4494501Outside1.830.060.801.91and4544551Outside0.980.654.901.88 4664671Outside1.330.122.001.51 479482 3Outside1.160.313.901.60 5465471Outside1.670.152.101.88 5545562Outside1.670.111.631.82 5645717Outside0.860.030.980.92incl.5675692Outside2.090.031.252.14 5915921Outside1.420.071.901.53 6196212Outside1.090.030.601.14 67468713Outside1.830.193.692.12incl.6756761Outside6.540.415.307.13and6796823Outside3.760.418.674.39 7097101Outside1.180.343.801.66TLG-ZJ21-226 9316168Inside0.710.273.801.10incl.1031129Inside0.900.477.431.59and11812810Inside1.080.395.091.65and1511598Inside1.080.425.541.69 1811887Inside0.730.324.261.19incl.1811843Inside1.260.679.012.23 2032096Inside0.690.373.741.22TLG-ZJ21-227 1221297Inside0.470.111.990.63incl.1271281Inside1.550.346.402.06 1501599Inside0.410.162.550.64incl.1531541Inside0.870.274.101.26and1571581Inside0.920.466.301.58 *Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information. Quality Assurance and Control During the J Zone drill program in 2021, one metre assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples; which included insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay was done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES. Qualified Person The technical and scientific information in this press release has been reviewed and approved by Yves Caron, M.Sc., P.Geo., Project Manager, who is a Qualified Person as defined by NI 43-101. Mr. Caron is an employee of Troilus and is not independent of the Company under NI 43-101. About Troilus Gold Corp. Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km² in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America for generations to come. For more information: Caroline Arsenault VP Corporate Communications +1 (647) 407-7123 info@troilusgold.com Cautionary Note Regarding Forward-Looking Statements and Information Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized. The PEA is preliminary in nature, 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 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the Company’s latest technical report available on SEDAR for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing. This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the ongoing drill program and results on the Company, the possible economics of the project and the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s ongoing 2021 drill program and their possible impact on the potential size of the mineral resource estimate; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities. Generally, 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”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; the receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the most recent Technical Report and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus 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. 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. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

2021-05-12 - Yahoo! Finance: VLC.V News

Velocity Reports Large Gold in Soil Anomalies Adjacent to the Rozino Deposit, Southeast Bulgaria

Rock Samples Grade up to 28.2 g/t Gold Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Velocity Minerals Ltd. (TSXV: VLC) (Velocity or the Company) provides an update on soil sampling and follow-up rock chip sampling results at Rozino (Rozino or the Project) in the area immediately surrounding the deposit. Three large gold in soil anomalies have been defined (Figure 1) and field verification of the anomalies has identified widespread epithermal vein material in ...

2021-05-12 - Yahoo! Finance: MTU.V News

Manitou Gold Triples Size of 2021 Drilling Program on Baltimore Deformation Zone to 30,000 M

Figure 1 Showing targets along the Baltimore deformation zone SUDBURY, Ontario, May 12, 2021 (GLOBE NEWSWIRE) -- Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce that it is increasing its drill program along the mine-hosting Baltimore Deformation Zone (the “BDZ”) to a total of 30,000 metres. Following the successful closing of the Company’s $5 million financing, the Company is now accelerating its aggressive exploration on its 100% owned Goudreau Project, which is located along the BDZ, in Northeastern Ontario. The drill program is anticipated to provide for continuous drill results through the first quarter of 2022. Highlights of the 2021 exploration to date include: Based on positive results from the winter drill campaign and following the completion of the recent $5MM financing, the drill program on the BDZ will be increased to 30,000 metres from 10,000 metres. The newly announced additional drilling will be largely focused on testing new targets along the additional 10 kilometres of strike on the western part of the BDZ.The new 300 line km deep-penetrating, high resolution wireless Alpha Induced Polarization (“IP”) / resistivity survey is progressing systematically. From 3D models generated to date, the Alpha IP data is delivering high-resolution results, with data providing discreet targets at depths from near surface to up to 800 m.Promising new targets are emerging proximal to the contact of an ultramafic unit with an interpreted strike length of over six kilometres. Finalization and planning of specific drill targets along the 10 km of strike on the western part of the BDZ is scheduled to be completed by early June 2021, with the drilling of such targets expected to begin in mid-June 2021.Drilling operations are resuming after a planned temporary suspension of operations due to spring breakup. In the near term, the drill program will be directed at testing a newly identified geophysical anomaly east of previous drilling at the Stover Zone, which is within the Company’s Goudreau Project, as well as new targets along strike to the west of the Stover Zone. “I am pleased to announce another significant increase in our exploration program to test the crustal-scale Baltimore deformation zone. The BDZ, represents the fault-offset extension of the Goudreau-Localsh deformation zone that hosts two multi-million ounce gold deposits, being Alamos Gold’s Island Gold Mine and Argonaut’s Magino project,” stated Richard Murphy, President and CEO of Manitou Gold. “The expansion to the ongoing drill program will allow us to continue to unlock the exploration potential along the western 10 kilometres of the BDZ.” New Geophysical Surveys Covering Western 10 km of the BDZGround geophysical surveys, including an Alpha IP survey covering an additional 10 kilometres of strike length along the BDZ, are well underway. High priority regional targets along major structural intersections and flexures along the BDZ are also currently being prioritized, with initial results expected during the second half of May. Initial drill targets are expected to be ready for testing in June. About the Goudreau Project The Goudreau Project is located 50 kilometres northeast of Wawa, Ontario and is underlain by Archean-aged rocks of the Michipicoten Greenstone belt. The project area is traversed by several broad-scale deformation corridors (such as the BDZ), which host the majority of the important regional gold deposits and showings in the region. The eastern half of Manitou’s Goudreau Project is centrally located over the BDZ, encompassing an 18 kilometre of strike length of the BDZ. Geological and geophysical interpretation indicate that the BDZ is the fault offset continuation of the Goudreau-Localsh Deformation Zone (the “GLDZ”), which hosts Alamos Gold’s (TSX:AGI; NYSE:AGI) Island gold deposit and Argonaut Gold’s (TSX: AR) Magino deposit, in addition to a number of smaller-scale past producing mines, including the past-producing Cline and Edwards mines. As a fault offset extension of the GLDZ, which hosts two multi-million ounce gold deposits and has seen over 1,000,000 metres of drilling for gold, the BDZ has been extremely under-explored along its 17 kilometre long trend, with only 4400 metres of historic gold drilling. The Goudreau project covers approximately 350 square kilometres in this re-emerging gold camp that hosts several multi-million ounce gold deposits. Manitou’s key strategic shareholders include Alamos Gold Inc. (TSX:AGI; NYSE:AGI) at 19.9% and O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) at 9.9%, each individually calculated on a partially diluted basis. Richard Murphy, P.Geo is the qualified person responsible for the technical content contained in this release. He has reviewed and approved the content contained herein. For further information on Manitou Gold Inc. contact: Richard Murphy, CEOTelephone: 1 (705) 698-1962 Email: info@manitougold.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including, but not limited to the receipt of applicable shareholder approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72f99853-b1b6-4e8d-98da-4cf80cd857e8

2021-05-12 - Yahoo! Finance: BRO.V News

Barksdale to Acquire 100% Ownership of the Sunnyside Project

VANCOUVER, BC / ACCESSWIRE / May 12, 2021 / Barksdale Resources Corp. (Barksdale or the Company) (TSXV:BRO)(OTCQX:BRKCF) is pleased to announce it has entered into a definitive agreement with Regal Resources Inc.

2021-05-12 - Yahoo! Finance: GSP.V News

Gensource Provides Summary Update on Its Tugaske Project

Gensource Potash Corporation (Gensource or the Company) (TSX.V:GSP) a fertilizer development company focused on a sustainable and modular approach to potash production, is pleased to provide a general update on its activities and the current status of various workstreams the Company is engaged in to advance its Tugaske Project.

2021-05-12 - Yahoo! Finance: EDR.TO News

Endeavour Silver Releases 2020 Sustainability Report

______________________________________________________________________________ VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces the publication of its 2020 Sustainability Report entitled “Unity in Adversity.” This marks the ninth consecutive year the Company has reported on its sustainability initiatives, including the last eight under the GRI Standards for sustainability reporting. This year, the report includes additional disclosure linked to the Sustainability Accounting Standards Board (SASB) framework. Endeavour’s 2020 Sustainability Report is available at https://csr.edrsilver.com and the full report can be downloaded here. The Spanish versions will be available by month-end on the company website. All dollar amounts presented below are in U.S. dollars. 2020 Sustainability Highlights Safety and Health Achieved a 25% reduction in the Reportable Injury Rate (RIR), exceeding the target of 10%Implemented a new employee empowering Safety Culture Change Program entitled “Te Cuido” (English translation is “I take care of you”) with a focus on risk awareness and competencyAugmented standard safety procedures with COVID-19 protocols to protect our workforce with minimal disruption to the business Our People Provided an average of 21 hours training for each employee, despite pandemic restrictions, including social distancing measuresDeployed the ICARE Values program, “The Endeavour Way” company-wide to improve visibility of ethics and communication with employees Community Supported 142 Mexican students with scholarships to further their educationDonated 534 tablets to local schools and students to support online learningDistributed 2,200 COVID-19 rapid tests and personal protective equipment (PPE) to Mexican households and health centers during the pandemic Environment Planted 44,000 trees in reforestation projects to reclaim disturbed groundRecycled over 90% of water used in mineral processingReduced absolute greenhouse gas (GHG) emissions by 34% Economic Value 99% of our workforce is local, providing $32.4 million in employee wages and benefits.Spent $136 million on goods and services, 96% of total procurement is from within Mexico.Paid $5 million in various taxes Endeavour CEO Bradford Cooke commented: “In the face of a global pandemic, our people came together not only to resolve new challenges but also capture new opportunities and create a more sustainable future for the Company. We did not just survive a difficult year, we thrived thanks to our ability to unite in the face of adversity.” “COVID-19 has been a reminder that we need to work together in harmony with our stakeholders and the planet in order to protect our people, our most valuable resource. The pandemic also accelerated the trend for a more sustainable approach to investing. On this note, silver has a key role to play as a green metal much needed for solar power and electric vehicles as the world transitions to a lower carbon economy.” “Our sustainability reporting reflects how our mining operations are evolving towards greater sustainability to drive positive change for our stakeholders. Rather than set arbitrary targets for our sustainability goals, we conduct regular materiality assessments with our major stakeholders in order to drive better ESG performance. We have been doing for many years as part of our philosophy of continuous improvement.” About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera Mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information: Galina Meleger, Director, Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: gmeleger@edrsilver.comWebsite: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2021 including changes in mining operations and production levels, the timing and results of various activities and the impact of the COVID 19 pandemic on operations. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

2021-05-12 - Yahoo! Finance: ADZN.V News

Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 11.55% Copper Equivalent Over 16.86 Metres and Provide a Regional Exploration Update for the Curipamba Project

Adventus Mining Corporation (Adventus) (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (Salazar) (TSXV: SRL) (OTCQB: SRLZF) (collectively the Partners) are pleased to announce additional infill drilling results from the El Domo volcanogenic massive sulphide deposit (El Domo) located within the 21,537-hectare Curipamba project in central Ecuador.

2021-05-12 - Yahoo! Finance: SRL.V News

Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 11.55% Copper Equivalent Over 16.86 Metres and Provide a Regional Exploration Update for the Curipamba Project

Adventus Mining Corporation (Adventus) (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (Salazar) (TSXV: SRL) (OTCQB: SRLZF) (collectively the Partners) are pleased to announce additional infill drilling results from the El Domo volcanogenic massive sulphide deposit (El Domo) located within the 21,537-hectare Curipamba project in central Ecuador.

2021-05-12 - Yahoo! Finance: BRO.V News

Kennecott Property Acquisitions to Double Barksdale’s Land Position in Arizona

VANCOUVER, BC / ACCESSWIRE / May 12, 2021 / Barksdale Resources Corp. (Barksdale or the Company) (TSXV: BRO) (OTCQX: BRKCF) is pleased to announce it has entered into a definitive agreement to acquire a 100% interest in two copper exploration projects, located in Santa Cruz County, Arizona from Kennecott Exploration Company (Kennecott), a wholly owned subsidiary of Rio Tinto Group.

2021-05-12 - Yahoo! Finance: VZLA.V News

Vizsla Extends Napoleon to 800 Metres of Mineralization, Adds Depth, Including 3.45 Metres TW Grading 3,707 g/t AgEq

Vizsla Silver Corp. (TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) (Vizsla or the Company) is pleased to provide additional results from twenty-three drillholes at the Napoleon prospect at the Panuco silver-gold project (Panuco or the Project) in Mexico. These holes extend the mineralization by over 230 metres and 65 metres deeper. The southernmost fence of four holes has an average width of 4.12 metres with a weighted average grade of 1,145 grams per tonne silver equivalent and mineralization remains open.

2021-05-12 - Yahoo! Finance: ASND.TO News

Ascendant Resources To Host Investor Update Call To Review Development Plan for Lagoa Salgada

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Ascendant Resources (TSX: ASND) (“Ascendant” or the “Company”) is pleased to announce that it plans to host an investor call on Thursday May 13 at 12:00 pm to provide updated guidance on the development plan for Lagoa Salgada. Ascendant would also like to formally introduce Joao Barros, Ascendant’s newly appointed President. Meeting Details Below:Topic: Ascendant Investor Update Time: May 13, 2021 12:00 PM Eastern Time (US and Canada) Join Zoom Meeting https://zoom.us/j/96168110188?pwd=dS9HY3l3VVY1Sm96UFhFaUVYUnZ4dz09 Meeting ID: 961 6811 0188 Passcode: 158299 One tap mobile +13126266799,,96168110188#,,,,*158299# US (Chicago) +13462487799,,96168110188#,,,,*158299# US (Houston) Dial by your location +1 312 626 6799 US (Chicago) +1 346 248 7799 US (Houston) +1 669 900 6833 US (San Jose) +1 929 205 6099 US (New York) +1 253 215 8782 US (Tacoma) +1 301 715 8592 US (Washington DC) Meeting ID: 961 6811 0188Passcode: 158299Find your local number: https://zoom.us/u/aPXtpUgiE About Ascendant Resources Inc.Ascendant is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Through focused exploration and aggressive development plans, the Company aims to unlock the inherent potential of the project, maximizing value creation for shareholders. Lagoa Salgada contains over 14.75 million tonnes of M&I Resources and 11.88 million tonnes in Inferred Resources and demonstrates typical mineralization characteristics of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 10,700ha property concession. The project also demonstrates compelling economics with scalability for future resource growth in the results of the Preliminary Economic Assessment. Located just 80km from Lisbon, Lagoa Salgada is easily accessible by road and surrounded by exceptional Infrastructure. Ascendant holds a 21.25% interest in the Lagoa Salgada project through its 25% position in Redcorp - Empreendimentos Mineiros, Lda, (Redcorp) and has an earn-in opportunity to increase its interest in the project to 80%. Mineral & Financial Investments Limited owns the additional 75% of Redcorp. The remaining 15% of the project is held by Empresa de Desenvolvimento Mineiro, S.A., a Portuguese Government owned company supporting the strategic development of the country's mining sector. The Company's interest in the Lagoa Salgada project offers a low-cost entry to a potentially significant exploration and development opportunity, already demonstrating its mineable scale. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol ASND. For more information on Ascendant, please visit our website at www.ascendantresources.com. Additional information relating to the Company, including the Preliminary Economic Assessment referenced in this news release, is available on SEDAR at www.sedar.com. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. For further information please contact: Mark BrennanNicholas Campbell, CFACEO, Executive Chairman, FounderManager, Corporate DevelopmentTel: +1-647-796-0023Tel: +1-905-630-0148mbrennan@ascendantresources.com ncampbell@ascendantresources.com

2021-05-12 - Yahoo! Finance: VONE.V News

Vanadium One and Glencore Enjoin to Support Development of the Mont Sorcier Iron and Vanadium Project

* Glencore to assist in arranging funding to deliver Bankable Feasibility study for the Mont Sorcier project * Eight Year Offtake Agreement securing market access for 100% of Mont Sorcier production TORONTO, ON / ACCESSWIRE / May 12, 2021 / Vanadium One Iron Corp. (Vanadium One or the Company) (TSXV:VONE), is very pleased to announce that it has entered into a long-term arrangement with a wholly owned subsidiary of Glencore plc (Glencore) to support the development of the Mont Sorcier Iron and Vanadium project located in Chibougamau, Quebec.

2021-05-12 - Yahoo! Finance: FNV.TO News

What Type Of Shareholders Own The Most Number of Franco-Nevada Corporation (TSE:FNV) Shares?

Every investor in Franco-Nevada Corporation ( TSE:FNV ) should be aware of the most powerful shareholder groups...

2021-05-12 - Yahoo! Finance: BULL.CN News

Canadian Palladium Intersects 22 Metres Grading 2.22 g/t Palladium Equivalent Including 7 Metres at 3.40 g/t Pd-Eq at East Bull Deposit

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (the Company) is pleased to report new assay results for drill holes EB-21-54 to EB-21-56 that further extend the East Bull Palladium Deposit along strike to the west. Holes EB-21-54 to EB-21-56 were all drilled in the Garden Zone at the west end of the Deposit. A highlight of the current batch of ...

2021-05-12 - Latest updates

Silver Viper Minerals | Webinar Replay

2021-05-12 - Yahoo! Finance: VRR.V News

VR announces $1m non-brokered private placement to solidify plans follow-up drilling in September at its Hecla-Kilmer copper-gold property in Ontario

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR; FSE: 5VR; OTCBB: VRRCF), the (Company), or (VR), announces a non-brokered private placement (“Financing”) for gross proceeds of $1,000,000. The financing has two parts. A flow-through private placement will consist of up to 1,190,476 flow-through shares (“FT Shares”) at a price of $0.42 per FT Share for gross proceeds of $500,000. A hard-dollar private placement will consist of 1,428,571 units (the “Units”) at a price of $0.35 per Unit for gross proceeds of $500,000, with each Unit consisting of one common share (“Common Share”) of the Company and one-half of a common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to acquire one additional Common Share at an exercise price of $0.55 per Common Share for a period of 18 months from the closing date (“Closing Date”) of the Financing. The Company may pay up to a 6% cash finders fee and issue up to 6% finders warrants exercisable at $0.55 per warrant share for a period of 18 months from the closing date. VR will use the gross proceeds of the Financing for its mineral exploration business, and more specifically to solidify the Company’s plan for follow-up drilling this September at its Hecla-Kilmer IOCG project in Northern Ontario, in response to a large, high amplitude and high contrast gravity anomaly announced last Wednesday (see news release dated May 5, 2021, for details). The financing is expected to Close on or before May 21, 2021, and is subject to all regulatory approvals including the approval of the TSX Venture Exchange. The securities issued in connection with this Financing will be subject to a four-month hold period from the date of closing in accordance with applicable securities legislation. From VR’s CEO, Dr. Michael Gunning “I wish to take this opportunity to sincerely thank two of our core, institutional share holders for their support. This financing strategy strengthens VR’s business model in general, and more specifically our exploration programs in both Ontario and Nevada through 2021. In particular, these funds will allow us start planning immediately for follow-up drilling in September at Hecla-Kilmer, including the confirmation of key service company contracts necessary for the successful execution of that program. In the meantime, we continue to advance our various drill programs in Nevada, and we look forward to providing further updates in the future.” The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the “United States” or to “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and all applicable state securities laws or compliance with an exemption from such registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. About VR Resources VR is an established junior exploration company focused on greenfields opportunities in copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A is the foundation of VR. The Company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. ON BEHALF OF THE BOARD OF DIRECTORS: “Michael H. Gunning”_____________________________Dr. Michael H. Gunning, PhD, PGeoPresident & CEO For general information please use the following:Website:www.vrr.caEmail:info@vrr.caPhone:604-262-1104Contact:Mike Gunning, at mgunning@vrr.ca ; Cell: 604-374-3708 Forward Looking Statements This press release contains forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Forward looking statements in this release, for example include but are not limited to: the general use of proceeds, that the Company will complete the financing; that the Company will carry out exploration on its Ontario property. Although the Company believes that the use of such statements is reasonable, 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. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

2021-05-12 - Yahoo! Finance: LAC.TO News

3 Stocks That Could Win Big From Biden’s $2 Trillion Infrastructure Plan

President Joe Biden planning to pour another $2 trillion into the economy with his newest plan. These are our picks for some of the top stocks to watch

2021-05-12 - Yahoo! Finance: BSR.V News

MPs say Lex Greensill may have misled parliament

Lex Greensill may have misled parliament when he said his company did not lend money to its shareholders, two MPs have said, pointing to a €300m loan that Greensill Capital made to its private equity backer General Atlantic. Labour’s Angela Eagle and Conservative Harriett Baldwin raised the concerns after Greensill told a Treasury select committee hearing on Tuesday that “none of the two large institutional shareholders that we have borrowed money from Greensill Capital”. The largest institutions backing Greensill were US-based General Atlantic and Japan’s SoftBank.

2021-05-11 - Yahoo! Finance: SCLT.V News

Searchlight Resources Announces 100% of Flow Through Warrants Exercised

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / SEARCHLIGHT RESOURCES INC. (SEARCHLIGHT or the Company) (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2), a Vancouver-based mineral exploration company with a portfolio of properties in Saskatchewan, Canada, is pleased to announce that it has received $364,600 from the exercise of all 7,292,000 flow-through share purchase warrants.

2021-05-11 - Yahoo! Finance: BAT.V News

Batero Announces an Update on La Cumbre Project, Colombia

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Batero Gold Corp. (TSXV: BAT) (FSE: 68B) (OTC: BELDF) (Batero, The Company) is pleased to provide an update on the La Cumbre Project, which is part of the Batero-Quinchia project (the Project) 100% owned by the Company and located in the department of Risaralda, Colombia.Minera Quinchia is currently conducting all the studies required by the environmental authority-ANLA to file the Environmental Impact Assessment (EIA) and obtain the environmental ...

2021-05-11 - Yahoo! Finance: BYN.V News

Banyan Gold Issues Incentive Stock Options

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 /Banyan Gold Corp. (the Company or Banyan) (TSXV:BYN) is pleased to announce that the Board of Directors of the Company have granted 3,600,000 stock options to purchase 3,600,000 shares at an exercise price of $0.

2021-05-11 - Yahoo! Finance: LI.V News

American Lithium Completes Merger with Plateau

VANCOUVER, British Columbia and TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) and Plateau Energy Metals Inc. (“Plateau”) (TSXV:PLU | OTCQB:PLUUF) are pleased to announce the completion of the acquisition by American Lithium of all of the issued and outstanding common shares of Plateau (“Plateau Shares”) by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement became effective as of 12:01 a.m. (Toronto time) on May 11, 2021 (the “Effective Time”), resulting in Plateau becoming a wholly-owned subsidiary of American Lithium. Highlights Merger combines two of the largest lithium development projects globallyOptionality provided by large-scale, advanced uranium project with robust economicsGeographic & geological diversity in mining friendly jurisdictionsGo forward management and board combines deep technical expertise with global capital markets reach and a track-record of creating value for shareholdersMerger creates a leading, Americas focused developer of energy metals at a time when securing a sustainable supply of Critical Minerals is a global priorityStrong working capital with approx. $19 million in cash on closing Simon Clarke, Chief Executive Officer & Director of American Lithium stated, “We are thrilled to complete this acquisition of Plateau, which significantly increases our portfolio of assets and expands our range of opportunities in the Americas. I would like to take this time to welcome our new colleagues from Plateau, who bring a highly complimentary skill set. Not only is this important for the continued development of the Plateau assets but also their success in producing battery grade lithium at Falchani will be directly relevant as we focus on that milestone at TLC.” Dr. Laurence Stefan, Interim CEO & Director of Plateau stated, “The merger of Plateau and American Lithium combines two major undeveloped lithium assets and creates a development stage company with one of the largest combined lithium resources globally. The combination also secures the financial strength, capital markets expertise and shareholder support required for us to step up the development of all of our assets and build on the last decade of work undertaken, and milestones achieved, in Peru. We continue to believe that our success will position Peru as a major supplier of energy metals.” Completion of the Arrangement Under the terms of the Arrangement, among other things, each holder of Plateau Shares is entitled to receive 0.29 of a common share of American Lithium (each whole share an “American Lithium Share”) and 0.145 of a common share purchase warrant of American Lithium (each whole warrant an “Exchange Warrant”) for each Plateau Share held immediately prior to Effective Time (the “Exchange Ratio”). Each whole Exchange Warrant will entitle the holder to acquire one American Lithium Share at a price of $3.00 until May 11, 2024. American Lithium will use commercially reasonable efforts to list the Exchange Warrants as soon as practicable following closing of the Transaction. Each existing Plateau Share purchase warrant will, upon the exercise thereof on or after the Effective Time in accordance with its terms, entitle the holder to acquire 0.29 of an American Lithium Share and 0.145 of an Exchange Warrant for each Plateau Share the warrant holder would have been entitled to acquire prior to the closing of the Arrangement. Existing Plateau stock options will be exchanged for an option to acquire from American Lithium the number of American Lithium Shares equal to the product of: (A) the number of Plateau Shares subject to such Plateau stock option immediately prior to the effective date of the Arrangement, multiplied by (B) 0.29 of an American Lithium Share for each Plateau Share. Each restricted share unit and deferred share unit of Plateau vested immediately prior to the Effective Time and was exchanged for one Plateau Share, and the holders thereof participated in the Arrangement as Plateau shareholders. Pursuant to the Arrangement, American Lithium acquired 127,213,511 Plateau Shares, representing 100% of the outstanding Plateau Shares. American Lithium intends to delist the Plateau Shares from the TSX Venture Exchange as soon as practicable. American Lithium also intends to cause Plateau to apply to the relevant securities regulators for Plateau to cease to be a reporting issuer. In connection with the Arrangement, Plateau issued to Bedrock Capital Corporation a finder’s fee equal to $600,625 payable in cash and 2,666,666 Plateau Shares and the Company issued to Axemen Resource Capital Ltd. (“Axemen”) a finder’s fee equal to $200,000 payable in cash and 867,882 American Lithium Shares. The American Lithium Shares issued to Axemen will be subject to a four month hold from the applicable date of issuance. The finder’s fees are subject to the final approval of the TSX Venture Exchange. Go Forward Management / Board of Directors As recently announced, Simon Clarke will be the Chief Executive Officer and a director of the Company going forward. Andrew Bowering will move from his current role as Chief Financial Officer and director to be Chairman of the Company. Michael Kobler will step down from the board of directors of American Lithium but will remain with the Company as General Manager of the US Operations. G.A.(Ben) Binninger remains an independent director and Graham Ballachey remains as VP Engineering. From the Plateau side, Dr. Laurence Stefan will join the Company as President, Chief Operating Officer and director. Philip Gibbs will become the Chief Financial Officer and Ted O’Connor will join the board of directors and will also be Technical Advisor and Qualified Person for the Company’s projects. Dr. Stefan, the founder of Plateau Energy Metals (formerly Macusani Yellowcake) has over 30 years of experience in the mining industry (exploration, development, mining, processing and marketing), serving as Managing Director in Peru since 2007. Dr. Stefan previously worked at Gold Fields of South Africa and JCI (Pty) Ltd. where he was involved in the beneficiation of a wide variety of solid metal/non-metal commodities. He has vast experience covering over 100 projects on 6 continents and led the discovery team for the Falchani lithium project. Philip Gibbs, the current Chief Financial Officer of Plateau, has extensive experience with listed mining and mineral exploration companies operating in Africa and South America. Mr. Gibbs also serves as Chief Financial Officer of Cobalt BlockChain Inc. and Asante Gold Corporation. Ted O’Connor, P.Geo, MSc. is a professional geoscientist with over 30 years of experience in the exploration industry and has been involved with Macusani Yellowcake and Plateau since shortly after inception. Previously, as Director of Corporate Development for Cameco, Ted was responsible for evaluating, directing and exploring for uranium deposits worldwide. He has successfully led new project generation from early exploration through discovery on multiple uranium projects and was also part of the discovery team for the Falchani project. Information for Former Plateau Shareholders In order to receive the American Lithium Shares and Exchange Warrants in exchange for Plateau Shares, Plateau shareholders who hold their Plateau Shares in physical certificates or DRS Statements, must complete, sign, date and return the letter of transmittal that was mailed to each Plateau shareholder with the meeting materials in April 2021. The letter of transmittal is also available under Plateau’s profile on SEDAR at www.sedar.com. Plateau Shares held in a trading account will update automatically to reflect the receipt of the American Lithium Shares and the Exchange Warrants, generally within two weeks of the Effective Date. For those shareholders of Plateau whose Plateau Shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Plateau Shares and should follow the instructions of such intermediary or nominee. As previously disclosed in Plateau’s management information circular dated March 31, 2021 (the “Circular”), a Plateau Shareholder wishing to file a tax election under section 85 of the Income Tax Act (Canada) should consult its tax advisor. The deadline for submission of the tax election form to American Lithium is August 9, 2021. All eligible holders who wish to make a Section 85 election should give their immediate attention to this matter, and in particular should consult their tax advisors without delay. Additional Information For further details of the Arrangement, please see the arrangement agreement dated February 9, 2021, and Plateau’s management information circular dated March 31, 2021, each of which is available under Plateau’s profile on SEDAR at www.sedar.com None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United State Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued pursuant to the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. About American Lithium American Lithium (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The company is currently exploring and developing the TLC lithium project located in the highly prospective Esmeralda lithium district in Nevada. TLC is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle’s Silver Peak lithium mine, and several advancing deposits and resources, including Ioneer Ltd.’s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp.’s Clayton Valley Project. Please watch our corporate video at https://www.americanlithiumcorp.com and review our informative short project update videos and related background information at https://www.americanlithiumcorp.com/projects/tlc-nevada/ For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn. About Plateau Energy Metals Plateau Energy Metals Inc., a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru, both of which are situated near significant infrastructure. On behalf of the Board of Directors of American Lithium Corp. “Simon Clarke” CEO & DirectorTel: 604 428 6128 For further information, please contact: American Lithium Corp. Email: info@americanlithiumcorp.com Website: www.americanlithiumcorp.com On behalf of the Board of Directors of Plateau Energy Metals Inc. “Dr. Laurence Stefan” Director, President & Interim CEO +1-416-628-9600IR@PlateauEnergyMetals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. 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. All statements, other than statements of historical fact, are forward-looking statements. These include statements regarding the intent of American Lithium and Plateau (the “Companies”), or the beliefs or current expectations of the officers and directors of the Companies post closing of the Transaction. Forward-looking statements in this news release include, but are not limited to, statements regarding anticipated benefits of the Transaction, TLC, Falchani and Macusani Uranium (the “Projects”), listing of the Exchange Warrants and any statements regarding the business plans, expectations and objectives of the Companies. Forward-looking statements are frequently identified by such words as may, will, plan, expect, anticipate, estimate, intend, “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although the Companies believe that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since the Companies can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: the Companies' ability to achieve their stated goals as a result of the Transaction; the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Companies or others to attempt to reduce the spread of COVID-19 could affect the Companies, which could have a material adverse impact on many aspects of the Companies’ businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact Plateau’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the Companies’ potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of the Companies, including the status of the “Precautionary Measures” filed by Plateau’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which the Companies operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of the Companies’ shares and could negatively affect the Companies’ ability to raise capital and may also result in additional and unknown risks or liabilities to the Companies. Other risks and uncertainties related to prospects, properties and business strategy of Plateau and American Lithium are identified, respectively, in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on January 29, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. Neither of the Companies undertakes any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Cautionary Note Regarding Plateau Concessions Thirty-two of Plateau’s 151 concession are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to the 32 of the concessions invalid due to late receipt of the annual validity payment. Plateau successfully applied for injunctive relief on 32 concessions in a Court in Lima, Peru and the grant of the Precautionary Measures (Medida Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is obtained in at the last stage of the judicial process. If Plateau does not obtain a successful resolution of Processes, Macusani’s title to the concessions could be revoked.

2021-05-11 - Yahoo! Finance: OR.TO News

Osisko Declares Second Quarter 2021 Dividend

MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to announce a second quarter 2021 dividend of C$0.05 per common share. The dividend will be paid on July 15, 2021 to shareholders of record as of the close of business on June 30, 2021. For shareholders residing in the United States, the U.S. dollar equivalent will be determined based on the daily rate published by the Bank of Canada on June 30, 2021. This dividend is an eligible dividend as defined in the Income Tax Act (Canada). The Company also wishes to remind its shareholders that it has implemented a dividend reinvestment plan (the “Plan”). Shareholders who are residents of Canada and the United States may elect to participate in the Plan in connection with the dividend to be paid on July 15, 2021 to shareholders on record as of June 30, 2021. More details are available on Osisko’s website at http://osiskogr.com/en/dividends/drip/ Non-registered beneficial shareholders who wish to participate in the Plan should contact their financial advisor, broker, investment dealer, bank or other financial institution that holds their common shares to inquire about the applicable enrolment deadline and to request enrolment in the Plan. For more information on how to enroll or any other inquiries, contact the Agent at 1-800-387-0825 (toll-free in Canada) or inquiries@canstockta.com. Participation in the Plan does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in common shares under the Plan. Shareholders should consult their tax advisors concerning the tax implications of their participation in the Plan having regard to their particular circumstances. This press release is not an offer or a solicitation of an offer of securities. About Osisko Gold Royalties Ltd Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact Osisko Gold Royalties Ltd:Heather TaylorVice President, Investor RelationsTel. (514) 940-0670 x105htaylor@osiskogr.com Forward-looking statements Certain statements contained in this press release may be deemed forward-looking statements within the meaning of applicable Canadian and U.S. securities laws. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. In this news release, these forward-looking statements may involve, but are not limited to, comments with respect to the directors and officers of the Company, information pertaining to the fact that all conditions for payment of the dividend will be met and that such dividend will continue to be an “eligible dividend” as defined in the Income Tax Act (Canada). Words such as may, will, would, could, expect, believe, plan, anticipate, intend, estimate, continue, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including that the financial situation of the Company will remain favourable. The Company considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its business. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form of Osisko which is filed with the Canadian securities commissions and available electronically under Osisko’s issuer profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission and available electronically under Osisko’s issuer profile on EDGAR at www.sec.gov. The forward-looking information set forth herein reflects Osisko’s expectations as at the date of this press release and is subject to change after such date. Osisko disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

2021-05-11 - Yahoo! Finance: OR.TO News

Osisko Reports Strong First Quarter 2021 Results

Figure 1: Composites long section from Agnico Eagle’s April 29, 2021 press release showing exploration highlights on the East Gouldie deposit. Figure 1: Composites long section from Agnico Eagle’s April 29, 2021 press release showing exploration highlights on the East Gouldie deposit. Operating cash flows from royalty and stream segment of $36.7 million Record cash margin of $46.5 million MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the first quarter of 2021. Amounts presented are in Canadian dollars, except where otherwise noted. Financial Highlights Earned 19,960 GEOs1 (Q1 2020 –18,159 GEOs)Record revenues from royalties and streams of $49.0 million (Q1 2020 – $37.8 million)Cash margin4 of 94% from royalty and stream interests (Q1 2020 – 91%)Consolidated cash flows from operating activities of $21.3 million (Q1 2020 – $23.8 million) Operating cash flows from the royalty and stream segment2 of $36.7 millionOperating cash flows from the mining exploration and development segment3 (i.e. Osisko Development Corp. – TSX-V:ODV) of ($15.4) million Net earnings attributable to Osisko’s shareholders of $10.6 million, or $0.06 per basic share (Q1 2020 – net loss of $13.3 million, or $0.09 per basic share)Adjusted earnings5 of $18.4 million, or $0.11 per basic share3 (Q1 2020 – $7.5 million, or $0.05 per basic share) Adjusted earnings5 from the royalty and stream segment2 of $23.4 million, or $0.14 per basic share5 Adjusted loss5 from the mining exploration and development segment4 of $5.0 million, or $0.03 per basic share5 Sandeep Singh, President and CEO of Osisko commented on the activities of the first quarter of 2021: “The first quarter saw our royalty and streaming business continue to generate record cash margins and strong operating cash flows. This bodes well as our operating assets continue to perform, ramp up and expand over the coming quarters. We were also able to, relatively cheaply, acquire medium and longer-term royalty exposure to some highly promising exploration and development properties while maintaining a disciplined approach to growth. In Q1, we also progressed our ambition to be a leader in the Environmental, Social and Governance (“ESG”) space with the publication of our inaugural ESG report and by entering into an investment and strategic partnership with Carbon Streaming Corp. The partnership leverages our streaming expertise to fund capital projects that reduce greenhouse gas emissions.” Financial Highlights by Operating Segment(in thousands of dollars, except per share amounts) As a result of its 75% ownership in Osisko Development, the assets, liabilities, results of operations and cash flows of the Company consolidate the activities of Osisko Development and its subsidiaries. The table below provides some financial highlights per operating segment. More information per operating segment can be found in the consolidated financial statements and management’s discussion analysis for the three months ended March 31, 2021. For the three months ended March 31, Osisko Gold Royalties (i) Osisko Development (ii) Consolidated 2021 2020 2021 2020 2021 2020 $ $ $ $ $ $ Cash (As at March 31, 2021 and Dec. 31, 2020) (iii)119,650 105,097 200,980 197,427 320,630 302,524 Revenues66,923 52,605 - - 66,923 52,605 Cash margin (iv)46,526 35,322 - - 46,526 35,322 Gross profit34,599 21,622 - - 34,599 21,622 Operating expenses (G&A, bus. dev and exploration)(6,029)(6,217)(5,201)(1,247)(11,230)(7,464)Net earnings (loss)13,464 (12,993)(3,701)(325)9,763 (13,318)Net earnings (loss) per share (v)0.08 (0.09)(0.02)(0.00)0.06 (0.09)Adjusted net earnings (loss) (vi)23,439 9,778 (5,042)(2,231)18,397 7,547 Adjusted net earnings (loss) per basic share (vi)0.14 0.06 (0.03)(0.01)0.11 0.05 Cash flows from operating activities (vii)36,738 25,736 (9,704)(1,936)21,324 23,800 Cash flows from investing activities (vii)(13,781)(23,496)(21,708)(15,152)(29,779)(38,648)Cash flows from financing activities(7,511)48,485 35,613 11,882 28,102 60,367 (i)Osisko and its subsidiaries, excluding Osisko Development and its subsidiaries. Represents the royalties, streams and other interests segment.(ii)Osisko Development and its subsidiaries (carve-out of the mining activities of Osisko prior to the reverse take-over transaction completed on November 25, 2020 and creating Osisko Development). Represents the mining exploration, evaluation and development segment.(iii)As at March 31, 2021 and December 30, 2020.(iv)Cash margin is a non-IFRS financial performance measure which has no standard definition under IFRS. It is calculated by deducting the cost of sales from the revenues. Please refer to the Notes at the end of this press release for a reconciliation.(v)Attributable to Osisko’s shareholders.(vi)Adjusted earnings (loss) and adjusted earnings (loss) per basic share” are non-IFRS financial performance measures which have no standard definition under IFRS. Please refer to the Notes at the end of this press release for a reconciliation.(vii)Consolidated results are net of the intersegment transactions. Other Highlights Published Osisko’s inaugural ESG report and commitment to the United Nations Global Compact (“UN Global Compact”) Completed an initial investment and strategic partnership of $3.5 million with Carbon Streaming Corp. to promote global decarbonization and biodiversity efforts through carbon credit streaming transactions In February 2021, Osisko repaid a $50.0 million convertible debenture and drew its credit facility by the same amount, thereby reducing the interest payable by approximately 1.5% per annum In February 2021, Agnico Eagle Mines Limited (“Agnico Eagle”) and Yamana Gold Inc. (“Yamana”) announced a positive construction decision for the Odyssey underground project (the “Odyssey Project”) at the Canadian Malartic mine. The preliminary economic study shows a total of 7.29 million ounces of resources (6.18 million tonnes at 2.07 g/t Au indicated resources and 75.9 million tonnes at 2.82 g/t Au inferred resources). Underground mine production is planned to start in 2023 and is expected to ramp up to an average of 545,400 gold ounces per year from 2029 to 2039 Acquired for cancellation 347,400 common shares for $4.5 million (average acquisition cost of $12.85 per share) In January and February 2021, Osisko Development Corp. (“Osisko Development”) closed a non-brokered private placement for gross proceeds of $79.8 million (of which $73.9 million were received in 2020) In March 2021, Osisko Development closed a brokered private placement of flow-through shares for gross proceeds of $33.6 million Declared a quarterly dividend of $0.05 per common share paid on April 15, 2021 to shareholders of record as of the close of business on March 31, 2021 Select Asset Updates Canadian Malartic Underground Construction Progress Agnico Eagle and Yamana have commenced construction of the Odyssey Project at the Canadian Malartic mine. The preliminary economic assessment published on SEDAR estimates 545,000 ounces of gold per annum from 2029 to 2039, thereby extending the life of mine of our cornerstone asset for decades to come. The ramp and underground project are on schedule with approximately 362 linear metres of development completed in the first quarter of 2021, reaching a depth of 74 metres below surface. Shaft preparation work is underway and construction on the headframe foundation is expected to start in the second quarter of 2021. At the Odyssey Project, a 970-metre step-out drill hole has intersected the eastern down plunge extension of the East Gouldie Zone. This hole intersected 2.7 g/t gold over 10.9 metres, including 3.1 g/t gold over 7.2 metres at approximately 1,995 metres depth (Figure 1). This new intercept is located within the boundaries of Osisko’s 5% net smelter return (“NSR”) royalty and suggests that the current mineral resources at East Gouldie could be expanded significantly down-plunge towards the east. Drilling is also underway to infill the East Gouldie Zone to 75-metre spacing. Highlights from this program include: 6.3 g/t gold over 22.6 metres at 1,482 metres depth and 3.7 g/t gold over 58.6 metres at 1,580 metres depth. Osisko holds a 5% NSR royalty on East Gouldie, Odyssey South and the western half of East Malartic and a 3% NSR royalty on Odyssey North and the eastern half of East Malartic. For more information, refer to Agnico Eagle’s press release dated April 29, 2021 entitled “Agnico Eagle Reports First Quarter 2021 Results - Record Quarterly Gold Production; Drilling Identifies Potentially Significant Extension to the East Gouldie Zone at Odyssey; Updated Climate Change Strategy Outlined in 2020 Sustainability Report” filed on www.sedar.com. https://www.globenewswire.com/NewsRoom/AttachmentNg/24870b3e-015e-40d6-bb10-a992f7f26a74 Figure 1. Composites long section from Agnico Eagle’s April 29, 2021 press release showing exploration highlights on the East Gouldie deposit. Upper Beaver/Kirkland Lake Exploration Success and Project Timing In the first quarter of 2021, Agnico Eagle completed 67 drill holes (21,014 metres) at Upper Beaver focused on infill drilling and mineral resource conversion. Highlights from the drilling included 62.6 g/t gold (28.1 g/t capped at 90 g/t gold) and 0.97% copper over 16.8 metres at approximately 1,200 metres depth. This is the best intersection ever reported from Upper Beaver. An update on the drilling program is expected to be released in the second quarter of 2021 and an internal technical evaluation of the project is expected to be completed in late 2021. On April 13, 2021, Agnico Eagle presented an overview of its project pipeline at the World Gold Forum, including the Upper Beaver/Kirkland Lake project. Current development concepts suggest annual production from Upper Beaver of 180-240koz gold at all-in sustaining costs of US$700-750 per ounce. Subject to permitting timelines, production could potentially commence in 2027. Osisko holds a 2% NSR royalty on Agnico Eagle’s Kirkland Lake project, including Upper Beaver. https://s21.q4cdn.com/374334112/files/doc_presentations/2021/AEM_World-Gold-Forum-April-13-14-2021.pdf Osisko Development Progress In the first quarter of 2021, a total of approximately 48,000 metres were drilled as part of the exploration and resource conversion program on the Cariboo gold project. Up to ten diamond drill rigs were utilized. The drilling confirmed down dip extensions of mineralized veins and high grade intercepts within the current mineral resource estimate. Drill highlights included 22.76 g/t over 7 metres at Mosquito Creek and 6.97 g/t over 6.5 metres at Valley Zone. For more information, refer to Osisko Development’s press release dated April 27, 2021 entitled “Osisko Development Intersects 22.76 g/t Gold over 7 Meters and 7.73 g/t Gold over 14 Meters on Island and Cow Deposits Infill and Expansion Drilling” filed on www.sedar.com. Osisko Development expects regulatory permitting approval to begin development of an underground access for a 10,000 tonne bulk sample in the second quarter of 2021. The bulk sample permit intends to replicate the Cariboo Gold Project’s mining conditions by mining two stopes and processing the mineralized material through an ore sorter on site. Recent ore sorter tests have shown excellent capability of excluding waste rock from the processing stream to save on costs and increase feed grade. A new ore sorter was purchased in the last quarter of 2020 and is expected to arrive in Wells during the third quarter of 2021 with test work beginning before year-end. The Bonanza Ledge II mine located on the Cariboo gold project has made significant progress in the first quarter. A stockpile of mineralized material has been transported to the QR mill. The mill is being re-commissioned after conversion to carbon in leach (CIL) and several improved material handling systems. First gold pour from Bonanza Ledge II is expected in Q2. Osisko holds a 5% NSR royalty on the Cariboo property, including the Bonanza Ledge II mine. On the San Antonio project in Sonora Mexico, Osisko Development has initiated a drill campaign to confirm and expand on the Sapuchi gold deposit. They have also initiated metallurgical tests and engineering design to advance the treatment of the gold stockpile mined by the previous operator. Osisko Bermuda Limited, a subsidiary of Osisko, holds a 15% gold and silver stream on the San Antonio project. Mantos Update The Mantos Blancos Concentrator Debottlenecking Project (“MB-CDP”) has achieved a total progress of 79%, in line with the targeted progress. The main project milestones are maintained, with construction scheduled to be completed in the second quarter of 2021, and the project completion date scheduled for the fourth quarter of 2021. The expansion is expected to increase the throughput of the operation’s sulphide concentrator plant from 4.3 million tonnes per year to 7.3 million tonnes per year by the fourth quarter of 2021 and extend the life of the mine to 2035. Annual deliveries of refined silver to Osisko during the first five years following commissioning of the expansion are expected to average approximately 1.2 million ounces of silver per year. Windfall PEA Update In April 2021, Osisko Mining Inc. (“Osisko Mining”) released an updated preliminary economic assessment (“PEA”) for the Windfall gold project which estimates an after-tax internal rate of return of 39% and after-tax net present value of $1.5 billion, using a gold price of US$1,500 per ounce. The PEA highlights average gold production of 238,000 ounces per year for the 18 year mine life. The first seven years of full production will average 300,000 ounces per year at an average diluted grade of 8.1 g/t Au. For more information, refer to Osisko Mining’s press release dated April 7, 2021 entitled “Osisko Mining Delivers Positive PEA Update for Windfall”, filed on www.sedar.com. Osisko Mining also announced it has placed an order for grinding equipment and ancillaries from FLSmidth for the Windfall project. The grinding mills have a capacity of processing up to 3,900 tonnes per day based on 92% availability. The equipment is expected to be delivered to the Windfall project in the second half of 2022. Installation will follow, pending successful receipt of all permits and authorizations. For more information, refer to Osisko Mining’s press release dated March 9, 2021 entitled “Osisko Mining Orders Milling Equipment for Windfall”, filed on www.sedar.com. Osisko holds a 2% to 3% NSR royalty on the Windfall project. Eagle Increased Production Plan Victoria Gold Inc. (“Victoria Gold”) has announced the initiation of the “Project 250”, aimed at increasing the average annual gold production of the Eagle mine to 250,000 ounces gold by 2023. The two primary opportunities to increase production are the scalping of fine ore from the crushing circuit and adjusting the seasonal stacking plan. Early engineering on Project 250 is expected to be completed in the second half of 2021. For more information, refer to Victoria Gold’s press release dated April 6 2021 entitled “Eagle Gold Mine First Quarter 2021 Operational Highlights”, filed on www.sedar.com. Osisko holds a 5.0% NSR royalty on the Dublin Gulch property which includes all reported reserves and resources of the Eagle gold mine as well as the Raven, Lynx, and Potato Hills exploration targets. Conversion of Parral Offtake to a Stream In April 2021, GoGold Resources Inc. (“GoGold”) and Osisko Bermuda Limited (“Osisko Bermuda”), a subsidiary of Osisko, entered into an agreement to convert the current capped Parral gold and silver offtake into a life-of-mine gold and silver stream. Under the stream, Osisko Bermuda will receive, effective April 29, 2021, 2.4% of the gold and silver produced from tailings piles currently owned or acquired by GoGold, with a transfer price of 30% of the gold and silver spot prices. Osisko currently has no other offtake agreements on producing assets, therefore, this conversion will streamline financial reporting for Osisko’s royalty and stream segment moving forward Santana Construction Update Minera Alamos Inc. (“Minera Alamos”) has indicated that initial gold production from the Santana project is expected by mid-year. The major construction activities related to the gold recovery plant are now complete and preparations are underway for testing. Final electrical and piping work will be finished in parallel with other site activities leading up to the start of mining operations. The initial heap leach pad area has also been completed and will continue to be expanded concurrently with the commencement of mining activities. For more information, refer to Minera Alamos’s press release dated March 31, 2021 entitled “Minera Alamos Selects Mining Contractor in Preparation for Start of Mining Operations”, filed on www.sedar.com. Osisko holds a 3.0% NSR royalty on the Santana project. Bald Mountain Shift Mines to Royalty Areas Kinross Gold Corporation (“Kinross”) expects higher production over the next three years from the North area of the Bald Mountain mine, with a significant part of production shifting to mining the Winrock (1% Gross Sales Royalty “GSR”), Duke (4% GSR) and Royale (4% GSR) deposits. Kinross also expects to spend US$6.5 million at Bald Mountain in 2021 with an increased focus on drill testing targets identified in 2020 to explore for both intrusive-related and sediment-hosted type deposits that can be potentially converted to mineral resources in subsequent years. Near-mine targets in the North area of Bald Mountain – such as Duke, Galaxy, Bida and Royale – are expected to be explored during 2021. For more information, refer to Kinross’ press release dated February 10, 2021 entitled “Kinross provides update on development projects and full-year 2020 exploration results” and the World Gold Council presentation from April 17, 2021. Falco Updates Horne 5 Feasibility Falco Resources Ltd. (“Falco”) updated its feasibility study to reflect the improved commodity prices and updated costs on the Horne 5 gold project. The capital and operating costs were reviewed to reflect current market conditions for labour, supplies and services. At a gold price of US$1,600 per ounce, the updated feasibility study shows that the Horne 5 Project would generate an after-tax net present value, at a 5% discount rate, of $761 million and an after-tax internal rate of return of 18.9%. For more information, refer to Falco’s press release dated March 24, 2021 entitled: “Updated Feasibility Study Confirms Significant Value of the Horne 5 Project” and filed on www.sedar.com. Osisko holds a silver stream on 90% of the future silver produced from the Horne 5 project, with an option to increase the stream to 100%. Acquisition of New Royalties on Spring Valley, Moonlight and Almaden In April 2021, Osisko completed the acquisition of a portfolio of royalties from two private sellers for cash consideration of US$26 million, including four royalties over the multi-million ounce Spring Valley project located in Pershing County, Nevada. Osisko now holds a 3.0% NSR royalty on claims overlying the core of the current Spring Valley deposit, a 2.0% NSR royalty on claims overlying the prospective high-grade northeastern part of the Spring Valley deposit, and a 0.5% NSR royalty over the broader Spring Valley property. In addition, Osisko acquired a 1.0% NSR royalty on the Moonlight exploration property immediately to the north of Spring Valley, and a 0.5% NSR royalty and 30% gold and silver offtake over the Almaden Project in western Idaho. For more information, refer to Osisko’s press release dated April 12th, 2021 entitled “Osisko Announces Preliminary Q1 2021 Deliveries and Agreement to Acquire Spring Valley Royalties” filed on www.sedar.com. New Liontown Royalty In March 2021, Osisko acquired a 0.8% NSR royalty covering three tenements owned by Red River Resources Limited (“Red River”) in Queensland, Australia for AUD $1.51 million. The royalties were purchased from a third-party and cover the Liontown and Liontown East deposits, which together host a JORC 2012 compliant indicated resource of 1.1Mt of 8.3% Zn Eq and inferred resources of 3.1Mt of 10.2% Zn Eq (0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1g/t Au and 29g/t Ag). All lode systems comprising the resources are open at depth and along strike. Liontown, a high grade, gold-rich polymetallic deposit, is set to be Red River’s third deposit developed for mining on the broader Thalanga property. The Liontown Project is located approximately 32km in a direct line from Red River’s Thalanga operations and 107km by road. In Q1 2021, Red River continued mine design and scheduling activities for the Liontown Project, with the focus being on a combined open pit and underground development with a conceptual mine life of 10+ years. For more information, refer to Red River’s press release dated April 29, 2021 entitled “Quarterly Activities and Cash Flow Report for the period ending 31 March 2021”; and the press release dated March 11, 2020 titled “Red River increases Liontown contained gold by 125%”. The third royalty tenement is an exploration licence containing prospective land adjacent to the Thalanga Project being explored by Red River. For more information, refer to Red River’s press release dated March 11, 2021 entitled “RVR survey targets copper-rich mineralisation at Thalanga”. New Vulcan Gold Belt Royalty In March 2021, Osisko acquired a 0.5% NSR royalty on PJX Resources Inc.’s (“PJX Resources”) Gold Shear, Eddy, Zinger and Dewdney Trail properties for $1 million. These properties represent the largest consolidated land package in the Vulcan Gold Belt, a potential new gold camp located near Cranbrook, British Columbia. The Vulcan Gold Belt occurs within the Sullivan base metal mining district. It is an area 60km long by 30km wide with gold in the creeks that has been mined as placer gold since the 1800’s. PJX Resources’ has identified 16 priority targets. For more information, refer to PJX Resources’ press release dated March 1, 2021 entitled “Osisko Gold Royalties and PJX Resources Complete Investment Agreement” filed on www.sedar.com. New Hidden Valley Royalty In February 2021, Osisko acquired a 1.5% NSR royalty as well as a 10% equity interest in relation to the Hidden Valley project for US$4.2 million. Hidden Valley is owned privately and located in the Solomon Islands. The royalty covers a prospecting license of approximately 98km2 that hosts a large copper-gold porphyry target with exposed mineralized outcroppings and extensive soil anomalies. New Rouyn Royalty In April 2021, Osisko purchased a portfolio of NSR royalties varying from 1% to 2% from Falco Resources for $0.7 million. Falco had acquired the portfolio from IAMGOLD Corporation pursuant to the exercise of a right of first refusal it held over the royalties. The portfolio relates to, among others, properties known as Flavrian and Central Camp and which are exploration properties surrounding Horne 5. The royalty portfolio covers an area of approximately 150km2, and contains several gold and base metal occurrences, including the historic Quesabe gold mine. Gold Rock Exploration Results In March 2021, Fiore Gold Ltd. (“Fiore Gold”) announced results from its resource expansion and exploration drilling program at its Gold Rock project in Nevada. The holes to the north of the North Pit shell include some of the highest-grade intercepts seen to date at Gold Rock, including 45.7m of 2.01 g/t gold in hole GR20-110. Fiore Gold plans to complete additional drilling in this area. For more information, refer to Fiore Gold’s press release dated March 30, 2021 entitled “Fiore Gold Drills 45.7 metres of 2.01g/t Gold and 42.7 metres of 1.17g/t Gold, Continues to Expand Mineralization at its Gold Rock Project, Nevada” filed on www.sedar.com. Osisko has a 4% NSR royalty over the northern part of the proposed pit at Gold Rock and a large area to the north that has significant exploration potential. Altar Resource Update Osisko owns a 1% NSR royalty on the Altar project in western Argentina. Aldebaran Resources Inc. (“Aldebaran”) has a joint venture with Sibanye-Stillwater on the Altar property allowing them to earn up to an 80% interest by spending US$55 million. Aldebaran updated the geological model and published a new resource estimation utilizing a higher cut-off grade (0.30% CuEq) resulting in measured & indicated resource of 1,198 million tonnes grading 0.43% copper, 0.1 g/t gold and 1 g/t silver, inferred resource of 189 million tonnes grading 0.42% copper, 0.06 g/t gold and 0.8 g/t silver. It also resulted in a significant reduction in the arsenic grade, primarily through isolation of the arsenic enriched geological domains. Aldebaran is currently executing a drill program at Altar, targeting deeper extensions of known higher-grade mineralization. For more information, refer to Aldebaran’s press release dated March 22, 2021 entitled “Aldebaran Announces Updated Mineral Resource Estimate for the Altar Copper-Gold Project” filed on www.sedar.com. Q1 2021 Results and Conference Call Details Conference Call:Wednesday, May 12, 2021 at 10:00 am EDTDial-in Numbers:North American Toll-Free: 1-833-979-2852 Local and International: 236-714-2915Replay (available until May 19, 2021 at 11:59 pm EDT):North American Toll-Free: 1-800-585-8367 Local and International: 416-621-4642 Access code: 6796690 Replay also available on our website at www.osiskogr.com Annual Meeting of Shareholders The Company will hold its 2021 virtual annual meeting (the “Meeting“) on Wednesday, May 12, 2021 at 3:30 p.m. (Eastern Daylight Time). The Meeting will be held in a virtual format only, by way of a live-audio webcast at: https://web.lumiagm.com/495445383. Shareholders are encouraged to vote in advance of the Meeting by internet, facsimile, or mail, in the manner set out in the meeting materials that have been sent to shareholders, copies of which can be accessed on our website at http://www.osiskogr.com/en/2021-agm/. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice President, Project Evaluation at Osisko Gold Royalties Ltd, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). About Osisko Gold Royalties Ltd Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact Osisko Gold Royalties Ltd: Heather TaylorVice President, Investor RelationsTel. (514) 940-0670 x105htaylor@osiskogr.com Notes: (1) Gold equivalent ounces (“GEOs”) are calculated on a quarterly basis and include royalties, streams and offtakes. Silver earned from royalty and stream agreements has been converted to gold equivalent ounces by multiplying the silver ounces by the average silver price for the period and dividing by the average gold price for the period. Diamonds, other metals and cash royalties were converted into gold equivalent ounces by dividing the associated revenue by the average gold price for the period. Offtake agreements were converted using the financial settlement equivalent divided by the average gold price for the period. Average Metal Prices and Exchange Rate Three months endedMarch 31, 2021 2020 Gold(1)$1,794$1,583Silver(2)$26.26$16.90 Exchange rate (US$/Can$)(3) 1.2626 1.3449 (1)The London Bullion Market Association’s pm price in U.S. dollars.(2)The London Bullion Market Association’s price in U.S. dollars.(3)Bank of Canada daily rate. (2) The royalty and stream segment refers to the royalty, stream and other interests segment, which corresponds to the activities of Osisko Gold Royalties Ltd and its subsidiaries, excluding Osisko Development Corp. and its subsidiaries. (3) The mining exploration and development segment refers to the mining exploration, evaluation and development segment, which corresponds to the activities of Osisko Development Corp. and its subsidiaries. (4) Cash margin, which represents revenues less cost of sales, is a non-IFRS measure. The Company believes that this non-IFRS generally-accepted industry measure provides a realistic indication of operating performance and provides a useful comparison with its peers. The following table reconciles the cash margin to the revenues and cost of sales presented in the consolidated statements of income (loss) and related notes (In thousands of Canadian dollars): Three months ended March 31, 2021 2020 $ $ Revenues66,923 52,605 Less: Revenues from offtake interests(17,926)(14,771)Revenues from royalty and stream interests48,997 37,834 Cost of sales(20,397)(17,283)Less: Cost of sales of offtake interests17,239 13,922 Cost of sales of royalty and stream interests(3,158)(3,361) Revenues from royalty and stream interests48,997 37,834 Less: Cost of sales of royalty and stream interests(3,158)(3,361)Cash margin from royalty and stream interests45,839 34,473 94%91% Revenues from offtake interests17,926 14,771 Less: Cost of sales of offtake interests(17,239)(13,922)Cash margin from offtake interests 687 849 4%6% (5) The Company has included certain non-IFRS measures including “Adjusted Earnings” and “Adjusted Earnings per basic share” to supplement its consolidated financial statements, which are presented in accordance with IFRS. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. “Adjusted earnings (loss)” is defined as “Net earnings (loss)” adjusted for certain items: “Foreign exchange gain (loss)”, “Impairment of assets”, including impairment on financial assets and investments in associates, “Gains (losses) on disposal of exploration and evaluation assets”, “Unrealized gain (loss) on investments”, “Share of loss of associates”, “Deferred income tax expense (recovery)” and other unusual items such as transaction costs. Adjusted earnings (loss) per basic share is obtained from the “adjusted earnings (loss)” divided by the “Weighted average number of common shares outstanding” for the period. Three months ended March 31, 2021 Osisko GoldRoyalties (i) OsiskoDevelopment (ii) Consolidated(in thousands of dollars, except per share amounts)$ $ $ Net earnings (loss)13,464 (3,701)9,763 Adjustments: Impairment of royalty, stream and other interests2,288 - 2,288Impairment of investments2,112 - 2,112Foreign exchange loss (gain)29 744 773Unrealized loss (gain) on investments1,389 (1,310)79Share of (income) loss of associates(375)407 32Deferred income tax expense (recovery)4,532 (1,182)3,350 Adjusted earnings (loss)23,439 (5,042)18,397 Weighted average number of common shares outstanding (000’s)165,842 165,842 165,842 Adjusted earnings (loss) per basic share0.14 (0.03)0.11 (i)Osisko Gold Royalties Ltd and its subsidiaries, excluding Osisko Development Corp. and its subsidiaries. Represents the royalties, streams and other interests segment.(ii)Osisko Development Corp. and its subsidiaries. Represents the mining exploration, evaluation and development segment. Three months ended March 31, 2020 Osisko GoldRoyalties (i) OsiskoDevelopment (ii) Consolidated (in thousands of dollars, except per share amounts)$ $ $ Net (loss) earnings(12,993)(325)(13,318) Adjustments: Impairment of royalty, stream and other interests26,300 - 26,300 Impairment of investments- - - Foreign exchange (gain)(2,101)- (2,101)Unrealized loss (gain) on investments755 (2,290)(1,535)Share of loss of associates1,157 559 1,716 Deferred income tax recovery(3,340)(175)(3,515) Adjusted earnings (loss)9,778 (2,231)7,547 Weighted average number of common shares outstanding (000’s)155,374 155,374 155,374 Adjusted earnings (loss) per basic share0.06 (0.01)0.05 (i)Osisko Gold Royalties Ltd and its subsidiaries, excluding Osisko Development Corp. and its subsidiaries. Represents the royalty, stream and other interest segment.(ii)Osisko Development Corp. and its subsidiaries (carve-out of the mining activities of Osisko Gold Royalties prior to the reverse take-over transaction completed on November 25, 2020 and creating Osisko Development). Represents the mining exploration, evaluation and development segment. Forward-looking Statements This news release contains forward-looking information and forward-looking statements (together, forward‑looking statements) within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future events, developments or performance that Osisko expects to occur including management’s expectations regarding Osisko’s growth, results of operations, estimated future revenue, requirements for additional capital, production estimates, production costs and revenue, business prospects and opportunities are forward-looking statements. In addition, statements relating to gold equivalent ounces (GEOs), especially as they relate to production guidance for 2021, are forward‑looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the GEOs will be realized. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, is expected plans, anticipates, believes, intends, estimates, projects, potential, scheduled and similar expressions or variations (including negative variations of such words and phrases), or may be identified by statements to the effect that certain actions, events or conditions will, would, may, could or should occur including, without limitation, the performance of the assets of Osisko, the timely construction of and production from the Odyssey underground project, the potential to extend the East Gouldie Zone, the timely development of the Cariboo project and Bonanza Ledge Phase 2 project and results from the exploration work, the timely development and construction of the San Antonio project, the continued ramp up of the Eagle Mine, the projections in the PEA as well as the anticipated timeline for receipt of permits and key equipment for the Windfall project, production forecasts and exploration results at the Kirkland Lake property, timely production from Minera Alamos’ Santana project, production and exploration projections at Kinross’ Bald Mountain mine, the projections in the updated feasibility study for the Horne 5 project, exploration results from other properties over which Osisko holds an interest, and Osisko’s ability to seize future opportunities. Although Osisko believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward-looking statements. Factors that could cause the actual results deriving from Osisko’s royalties, streams and other interests to differ materially from those in forward-looking statements include, without limitation: the uncertainties related to the COVID-19 impacts, the influence of political or economic factors including fluctuations in the prices of the commodities and in value of the Canadian dollar relative to the U.S. dollar, continued availability of capital and financing and general economic, market or business conditions; regulations and regulatory changes in national and local government, including permitting and licensing regimes and taxation policies; whether or not Osisko is determined to have “passive foreign investment company” (“PFIC”) status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatments of offshore streams or other interests, litigation, title, permit or license disputes; risks and hazards associated with the business of exploring, development and mining on the properties in which Osisko holds a royalty, stream or other interest including, but not limited to development, permitting, infrastructure, operating or technical difficulties, unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest, rate, grade and timing of production differences from mineral resource estimates or production forecasts or other uninsured risks; risk related to business opportunities that become available to, or are pursued by Osisko and exercise of third party rights affecting proposed investments. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Osisko holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; Osisko’s ongoing income and assets relating to the determination of its PFIC status, no material changes to existing tax treatments; no adverse development in respect of any significant property in which Osisko holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, 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. Investors are cautioned that forward-looking statements are not guarantees of future performance. Osisko cannot assure investors that actual results will be consistent with these forward-looking statements and investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the section entitled Risk Factors in the most recent Annual Information Form of Osisko which is filed with the Canadian securities commissions and available electronically under Osisko's issuer profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. The forward-looking information set forth herein reflects Osisko’s expectations as at the date of this press release and is subject to change after such date. Osisko disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law. Osisko Gold Royalties LtdConsolidated Balance Sheets(tabular amounts expressed in thousands of Canadian dollars) March 31, December 31, 2021 2020 $ $ Assets Current assets Cash320,630 302,524 Short-term investments3,458 3,501 Amounts receivable16,035 12,894 Inventories18,386 10,025 Other assets5,028 6,244 363,537 335,188 Non-current assets Investments in associates125,615 119,219 Other investments142,872 157,514 Royalty, stream and other interests1,100,335 1,116,128 Mining interests and plant and equipment524,524 489,512 Exploration and evaluation42,627 42,519 Goodwill111,204 111,204 Other assets25,147 25,820 2,435,861 2,397,104 Liabilities Current liabilities Accounts payable and accrued liabilities41,730 46,889 Dividends payable8,364 8,358 Current portion of long-term debt- 49,867 Provisions and other liabilities12,567 4,431 62,661 109,545 Non-current liabilities Provisions and other liabilities41,345 41,536 Long-term debt401,266 350,562 Deferred income taxes54,860 54,429 560,132 556,072 Equity Share capital1,783,707 1,776,629 Warrants18,072 18,072 Contributed surplus45,387 41,570 Equity component of convertible debentures14,510 17,601 Accumulated other comprehensive income58,361 48,951 Deficit(224,902) (174,458)Equity attributable to Osisko Gold Royalties Ltd’s shareholders1,695,135 1,728,365 Non-controlling interests180,594 112,667 Total equity1,875,729 1,841,032 2,435,861 2,397,104 Osisko Gold Royalties LtdConsolidated Statements of Income (Loss)For the three months ended March 31, 2021 and 2020(tabular amounts expressed in thousands of Canadian dollars, except per share amounts) 2021 2020 $ $ Revenues66,923 52,605 Cost of sales(20,397) (17,283)Depletion of royalty, stream and other interests(11,927) (13,700)Gross profit34,599 21,622 Other operating expenses General and administrative(9,906) (6,284)Business development(987) (1,138)Exploration and evaluation(337) (42)Impairment of a royalty interest(2,288) (26,300)Operating income (loss)21,081 (12,142)Interest income1,310 1,121 Finance costs(6,143) (6,862)Foreign exchange (loss) gain(1,129) 2,326 Share of loss of associates(32) (1,716)Other (losses) gains, net(1,910) 629 Earnings (loss) before income taxes13,177 (16,644)Income tax (expense) recovery(3,414) 3,326 Net earnings (loss)9,763 (13,318) Net earnings (loss) attributable to: Osisko Gold Royalties Ltd’s shareholders10,557 (13,318)Non-controlling interests(794) - Net earnings (loss) per share attributable to Osisko Gold Royalties Ltd’s shareholders0.06 (0.09)Basic and diluted Osisko Gold Royalties LtdConsolidated Statements of Cash FlowsFor the three months ended March 31, 2021 and 2020(tabular amounts expressed in thousands of Canadian dollars) 2021 2020 $ $ Operating activities Net earnings (loss)9,763 (13,318)Adjustments for: Share-based compensation3,300 2,683 Depletion and amortization12,261 14,132 Impairment of assets4,400 26,300 Finance costs1,839 2,624 Share of loss of associates32 1,716 Net gain on acquisition of investments(438) (2,845)Change in fair value of financial assets at fair value through profit and loss1,908 1,310 Net gain on dilution of investments in associates(1,391) - Foreign exchange gain773 (2,101)Deferred income tax expense (recovery)3,350 (3,515)Other455 948 Net cash flows provided by operating activities before changes in non-cash working capital items36,252 27,934 Changes in non-cash working capital items(14,928) (4,134)Net cash flows provided by operating activities21,324 23,800 Investing activities Net disposal of short-term investments- (1,069)Acquisition of investments(9,811) (15,587)Proceeds on disposal of investments19,771 322 Acquisition of royalty and stream interests(3,792) (7,500)Mining assets and plant and equipment(35,812) (14,854)Exploration and evaluation expenses, net of tax credits(135) (116)Other- 156 Net cash flows used in investing activities(29,779) (38,648) Financing activities Increase in long-term debt50,000 71,660 Repayment of long-term debt(50,000) - Investments from minority shareholders38,841 - Share issue expenses from investments from minority shareholders(2,581) - Exercise of share options and shares issued under the share purchase plan4,978 360 Normal course issuer bid purchase of common shares(4,464) (2,956)Dividends paid(7,782) (7,542)Other(890) (1,155)Net cash flows provided by financing activities28,102 60,367 Increase in cash before effects of exchange rate changes on cash19,647 45,519 Effects of exchange rate changes on cash(1,541) 4,583 Increase in cash 18,106 50,102 Cash – beginning of period302,524 108,223 Cash – end of period320,630 158,325

2021-05-11 - Yahoo! Finance: INV.TO News

INV Metals Reports Q1 2021 Results

TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- INV Metals (INV Metals or Company) (TSX: INV) reports its financial results for the three-month period ended March 31, 2021. The Company recorded a total loss of $1,287,344 or $0.01 per share for the three-month period ended March 31, 2021, compared to $3,339,751 or $0.02 per share for the corresponding period in 2020, a decrease of $2,052,407 or 61% from the prior period. The Company’s unaudited cash balance as at May 11, 2021 was approximately $5.3 million. For additional financial information please see INV Metals’ unaudited condensed interim consolidated financial statements and management’s discussion and analysis filed on www.sedar.com and on the Company’s web site at www.invmetals.com. About INV™ Metals INV™ Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, INV™ Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold exploration and development property in Ecuador, and (2) its 100% interests in exploration concessions in Ecuador, including the Tierras Coloradas, La Rebuscada and Carolina exploration projects. For further information, please contact: Sunny LoweChief Financial Officer Phone: (416) 703-8416E-mail: slowe@invmetals.com Forward-Looking Statements This press release contains forward-looking information. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Forward-looking information contained in this press release is based on certain factors and assumptions made by management and qualified persons in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves 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 the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to grade or recovery rates, uncertainties regarding the price of precious and base metals, uncertainties regarding the availability of equity and debt financing, the COVID-19 pandemic materially impacting the operations of the Company, changes in legislation, governmental policy or community relations, risks and uncertainties associated with the ability of the Company to obtain required permits and licenses, reliance on key personnel, operational risks, regulatory, capitalization and liquidity risks. Please refer to the management’s discussion and analysis, the Annual Information Form dated March 4, 2021 and other disclosure documents filed and available on SEDAR at www.sedar.com for other risks that could materially affect the Company. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

2021-05-11 - Yahoo! Finance: AZZ.TO News

Azarga Uranium Files NI 43-101 Technical Report for Resource Increase at Gas Hills Project

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FSE:P8AA) (Azarga Uranium or the Company) has filed a technical report supporting the National Instrument 43-101 (NI 43-101) resource estimate for its Gas Hills Uranium Project in Wyoming (the Gas Hills Project) announced on 30 March 2021.

2021-05-11 - Yahoo! Finance: DIAM.TO News

Star Diamond Corporation Announces First Quarter 2021 Results

Star Diamond Corporation (DIAM, Star Diamond or the Company) reports that the unaudited results of its operations for the quarter ended March 31, 2021 will be filed today on SEDAR and may be viewed at www.sedar.com once posted. A summary of key financial and operating results for the three months ended March 31, 2021 is as follows:

2021-05-11 - Yahoo! Finance: LUC.TO News

Lucara Reports Voting Results From Annual Meeting

(TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

2021-05-11 - The Northern Miner

McEwen Mining reports assays from Stock West in Ontario

McEwen Mining (TSX: MUX; NYSE: MUX) has reported the latest drill results from the Stock West target, part of the company’s Fox Complex in northern Ontario,...

The post McEwen Mining reports assays from Stock West in Ontario appeared first on The Northern Miner.

2021-05-11 - Yahoo! Finance: CG.TO News

Centerra Gold Announces Election of Directors

TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) (“Centerra”) announces that the 11 nominees listed in the management information circular for its 2021 annual general meeting of shareholders (the “Meeting”) held earlier today were elected as directors of Centerra. The vote for director nominees was conducted by ballot. 168,096,447 shares were represented at the Meeting, representing 56.69% of Centerra’s issued and outstanding common shares. The detailed results of the vote for the election of directors are set out below: Nominee Votes For % Votes For Votes Withheld % Votes Withheld Tengiz A.U. Bolturuk 155,423,290 93.66 10,519,594 6.34Richard W. Connor 163,036,014 98.25 2,906,870 1.75Dushen Kasenov 155,839,989 93.91 10,102,895 6.09Nurlan Kyshtobaev 165,435,507 99.69 507,377 0.31Michael S. Parrett 156,884,743 94.54 9,058,141 5.46Jacques Perron 157,323,574 94.81 8,619,310 5.19Scott G. Perry 163,997,870 98.83 1,945,014 1.17Sheryl K. Pressler 115,323,101 69.50 50,619,783 30.50Bruce V. Walter 161,892,447 97.56 4,050,437 2.44Paul N. Wright 165,903,240 99.98 39,644 0.02Susan Yurkovich 161,335,365 97.22 4,607,519 2.78 Final voting results on all matters voted on at the Meeting will be filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar. About Centerra GoldCenterra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest Western-based gold producers in Central Asia. Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the Öksüt Mine in Turkey. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG and on the New York Stock Exchange (NYSE) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada. For more information:John W. PearsonVice President, Investor Relations(416) 204-1953john.pearson@centerragold.com Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar. A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/959dcd1a-3ed5-462e-9b53-4e0aa089c627

2021-05-11 - Latest updates

Northern Vertex Announces Previously Unreleased Drilling Results and Follow-up Drilling Campaign on West Oatman Trend near the Moss Mine

2021-05-11 - Latest updates

First Quarter 2021 Conference Call Presentation

2021-05-11 - Latest updates

1st Quarter Report

2021-05-11 - Yahoo! Finance: NER.V News

IIROC Trading Halt - NER

The following issues have been halted by IIROC:

2021-05-11 - Latest updates

Superior Gold Reports Strong First Quarter Results

2021-05-11 - Latest updates

Portofino Receives Preliminary Gold Results From the Gold Creek Project Phase 1 Drilling Program

2021-05-11 - The Northern Miner

Coeur takes 17.8% stake in Victoria Gold

Coeur Mining (NYSE: CDE) is acquiring a 17.8% stake from Orion Mine Finance in Victoria Gold (TSX: VGCX), which owns and operates the Eagle gold...

The post Coeur takes 17.8% stake in Victoria Gold appeared first on The Northern Miner.

2021-05-11 - The Northern Miner

The Northern Miner Podcast – episode 238: ‘Increase the size of the pie’ — Barrick emphasizes shared revenue model with local communities

This week’s episode features Barrick Gold’s Q1 2021 conference call with president and CEO Mark Bristow, who discusses the company’s move towards sharing more revenue...

The post The Northern Miner Podcast – episode 238: ‘Increase the size of the pie’ — Barrick emphasizes shared revenue model with local communities appeared first on The Northern Miner.

2021-05-11 - Yahoo! Finance: GSS.V News

IIROC Trading Resumption - GSS

Trading resumes in:

2021-05-11 - Yahoo! Finance: GIGA.V News

Giga Metals Hosts Live Investor Summit

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Giga Metals Corp. (TSXV: GIGA) (OTCQB: HNCKF) (FSE: BRR2), a Canadian junior mining company with 100% ownership of a significant nickel sulphide project, are pleased to speak at a live investor summit hosted by 6ix on Wednesday, May 12th at 2:00 PM EDT / 11:00 AM PDT.Join Giga Metals' CEO Mark Jarvis and Manager of Development, Lyle Trytten, for a virtual webinar where they will ...

2021-05-11 - Yahoo! Finance: GSS.V News

Gossan Resources Announces Fully Subscribed Flow-Through Private Placement

Winnipeg, Manitoba--(Newsfile Corp. - May 11, 2021) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR) (Xetra: GSR) (the Companyor Gossan) will conduct a non-brokered private placement offering (the Offering) of 8,000,000 flow through units (each a FT Unit) at a purchase price of $0.24 per FT Unit for aggregate gross proceeds of $1,920,000. Each FT Unit to be issued pursuant to the Offering shall be comprised of one flow through common share (each ...

2021-05-11 - Yahoo! Finance: EDR.TO News

Endeavour Silver Corp. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 11, 2021 / Endeavour Silver Corp. (NYSE:EXK) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 11, 2021 at 12:00 PM Eastern Time.

2021-05-11 - Yahoo! Finance: CEE.TO News

Centamin PLC Announces Results of AGM

PERTH, AUSTRALIA / ACCESSWIRE / May 11, 2021 / Centamin or the Company or Group, including its subsidiaries (LSE:CEY) (TSX:CEE):RESULTS OF AGMCentamin announces that, at its Annual General Meeting (AGM) held today, 11 May 2021, all resolutions set out in the Notice of AGM were passed with greater than 96% of votes in favour. The table below details the voting results of the resolutions.

2021-05-11 - Yahoo! Finance: XTM.V News

Transition Vests 100% Interest in Cryderman Property Located in the Heart of the Shining Tree Gold Camp, Ontario

Sudbury, Ontario--(Newsfile Corp. - May 11, 2021) - Transition Metals Corp (TSXV: XTM) (Transition, the Company) is pleased to announce that it has secured a 100% interest in the Cryderman property located in southwest Macmurchy Township, Larder Lake Mining District, Ontario. The property consists of six mining and surface rights leases, totaling approximately 106 hectares which host a system of quartz veining partially exposed around a 40 foot (12.2m) deep historical shaft sunk in ...

2021-05-11 - Yahoo! Finance: DOS.V News

DIOS Identifies Very Strong First Priority IP Anomalies in Eastern K2, With Related Gold & Copper Soil Clusters

K2-Solo VLF-EM conductors and IP conductors Geology vs conductors and soil anomalous clusters Chargeability coloured contours of strong IP anomalies Strong first priority conductors in red (over 20 mV/V) MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) -- Dios Exploration Inc. (TSX-V: DOS) is very pleased to report having identified very strong first priority IP anomalies in southeastern K2, with good related gold, copper and As in-soil anomalous clusters. A very significant km size target (A48) was defined in southeastern K2 and is composed of a cherty iron formation with pyrite and graphite within mafic volcanic flows and tuffs, south of Opinaca Fault, near cross-cutting structures. It is coincidental with a 3.5 km-long minimum VLF-EM conductor associated with a good magnetic lineament. Its northeastern limit, covered by an Induced Polarization IP survey (Barrick 1997), is coincidental with a very good chargeable conductor (P-11 goes from 7 to 50 mV/V). B-horizon sampling across this unit produced anomalous clusters along the VLF-EM conductor with such gold values (6, 12, 18, 120, 240 ppb Au in one line & 30, 54 ppb Au 200 m away) as well as copper values 400 m away (140, 150, 150 ppm Cu & 450 ppm Cu. Additional B-horizon sampling and prospecting over the VLF/magnetic lineament is planned this summer. Test-drilling is also being evaluated for this summer. At the regional scale, such sulphides-bearing cherts are known to be goldbearing (Lidge:11.42 g/t Au/1.3m; Lucille: 1.24 g/t Au/4m gold showings). M.J. Girard, president of Dios, stated: We are very excited with this several km long gold-copper target area, pointed at with several combined methods. An independent geophysicist report mentions strongly chargeable P-11 should be drilled, specially as it is also associated with major resistivity decreases, typical of good conductors, such as massive sulfides. Further south, P-07 also bears same characteristics of massive sulfides. Effectively, some 800 m south of P-11, still on Dios’ wholly-owned claims, three sub-parallel several km long IP conductors are coincidental with a moderate east-west gold soil anomaly (regional and detailed, see figure). Both geophysical and geochemical anomalies are located along the northern flank of a regional fold hinge (structural trap), and may correspond to the sulfurized contact between felsic tuffs and intermediate volcanics. The most chargeable P-07 (7 to 130mV/V) conductor is coincidental with a 3 km-long strong high magnetic feature. Winter drilling is planned on P-07 (& adjacent 06) IP conductors due to area swampy conditions. The K2-Solo claim block without royalties covers 83.5 sq. km, contiguous SW of Azimut’s Elmer gold property, James Bay Eeyou Istchee, Quebec. Several other areas warrant further ground investigations and drilling. Further news will be released soon. Technical content of this release was prepared by M.J. Girard Geo M.Sc., 43-101 Qualified Person. 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. Contact information :Marie-José Girard, Geo M.Sc., 43-101 QPPresidentmjgirard@diosexplo.comTel. (514) 923-9123 Website: www.diosexplo.com Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/968d3431-edb1-4cf2-9b1a-afb908022ad1 https://www.globenewswire.com/NewsRoom/AttachmentNg/dd7d4f77-91cd-470b-b1b4-cf093b7a7f54

2021-05-11 - Yahoo! Finance: CBI.V News

Colibri Option Partner, Tocvan Ventures Corp. Reports Drilling Progress at Pilar Gold & Silver Project

Dieppe, New Brunswick--(Newsfile Corp. - May 11, 2021) - Colibri Resource Corporation (TSXV: CBI) (Colibri or the Company) is pleased to announce that its partner, Tocvan Ventures Corp. (Tocvan) has reported its progress regarding the Phase 2 drill program at the Pilar Gold & Silver Project. Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51% ownership of the Pilar Gold-Silver Project. For full ...

2021-05-11 - Yahoo! Finance: NWX.V News

Newport Announces Doubling of Second Quarterly Cash Dividend

Newport Exploration Ltd (Newport or the Company) is pleased to announce its second quarterly cash dividend (the Dividend) in 2021, of $0.02 per share to its shareholders of record at the close of business on May 26, 2021. The Dividend payment date is June 10, 2021.

2021-05-11 - Yahoo! Finance: LKY.V News

InvestmentPitch Media Video Discusses Lucky Minerals' Receipt of Assays from Ecuador, up to 2.19 g/t Gold at Sherman and 0.825 g/t Gold at Wayka - Video Available on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Lucky Minerals (TSXV: LKY) (OTC Pink: LKMNF) (FSE: LKY), has received additional assays from two of its projects in Ecuador.The 100% owned Fortuna Property comprises approximately 55,000 hectares in a known mineralized zone in southern Ecuador.For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter ...

2021-05-11 - Yahoo! Finance: EDR.TO News

Endeavour Silver (EXK) Reports Q1 Loss, Tops Revenue Estimates

Endeavour Silver (EXK) delivered earnings and revenue surprises of -250.00% and 2.79%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

2021-05-11 - Yahoo! Finance: RMI.V News

RETRANSMISSION: Ridgestone Releases Maiden Mineral Resource Estimate at Guadalupe y Calvo, Mexico

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE: 4U5) (Ridgestone) is pleased to announce a maiden National Instrument 43-101 (NI 43-101) Mineral Resource Estimate for it's Guadalupe y Calvo (GyC) gold-silver project in Chihuahua, Mexico. The maiden mineral resource was estimated for two principal mineralized structures, the Rosario and Nankin veins, captured within a combined pit-constrained and underground mineral resource model. Mineralization at GyC remains ...

2021-05-11 - Yahoo! Finance: DEFN.V News

Defense Metals Provides Pre-Pilot Hydrometallurgy Update, Achieves High Rare Earth Extraction And Impurity Removal From Wicheeda Flotation Concentrate

Defense Metals Corp. (Defense Metals or the Company) (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to provide an update regarding its ongoing pre-pilot hydrometallurgical test work utilizing high-grade rare earth element (REE) mineral concentrate produced during the Company's highly successful 26-tonne flotation pilot-plant that yielded a mineral concentrate averaging 7.4% NdPr oxide (neodymium-praseodymium)1.

2021-05-11 - Meridian Mining

Meridian reports on 1st phase of Cabaçal’s geophysics program

The post Meridian reports on 1st phase of Cabaçal’s geophysics program appeared first on Meridian Mining.

2021-05-11 - Yahoo! Finance: FCU.TO News

Fission Closes C$34.5 Million Bought Deal Offering

FISSION URANIUM CORP. (FISSION or the Company) is pleased to announce that it has closed its previously announced bought deal financing consisting of 57,500,000 units (the Units) at a price of C$0.60 per Unit for gross proceeds of C$34.5 million, inclusive of the full exercise of the over-allotment option held by the Underwriters (the Offering).

2021-05-11 - Yahoo! Finance: GSS.V News

IIROC Trading Halt - GSS

The following issues have been halted by IIROC:

2021-05-11 - Yahoo! Finance: SJL.V News

Saint Jean Carbon Provides an Operational Update

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, May 11, 2021 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce the following updates to its operations, and research and development initiatives. Mining and Carbon Sciences The company has signed a five-year lease for an 8800 square foot facility at 107 Manitou Drive Kitchener, Ontario commencing August 1st 2021. The new location will be home to Saint Jean’s pilot plant to develop environmentally friendly and sustainable mineral separation processes for mining and carbon sciences customers. In this facility, Saint Jean will optimize the air classification techniques for various types of graphite ore bodies. The engineering work to optimize the air classification process has commenced utilizing computational fluid dynamics tools. The predictions from the engineering simulations will reduce lead time to develop the processes for high purity refinement of graphite for energy storage applications. In addition, this plant will house existing equipment consisting of primary and secondary crushing equipment, flotation processes, and jet milling machinery. Solid Ultrabattery Acquisition Subsequent to the TSX approval of the Solid Ultrabattery acquisition, Saint Jean has now initiated a search for a suitable location to house its new battery R&D and prototype facility. On April 26th, 2021, Saint Jean engaged the services of ARC Engineering Inc to perform preliminary site assessments of several potential locations as it relates to permitting and commercial scale manufacturing operations. A decision to move forward with a lease will be announced shortly. As Saint Jean prepares for commissioning its new battery R&D and prototype fabrication facility, the necessary long lead battery prototype equipment is currently being sourced. This equipment will be required to fabricate small batch runs of battery electrolyte and perform assembly of pouch cells that will be used for development and testing. Research and Development Collaborations with AcademiaOn Feb 1st 2021, Saint Jean signed a contract research agreement with the University of Western Ontario (UWO) to further develop advanced graphene-based products with special luminescent properties for a DNA biosensor. The continuation of this research is in the late stages of a multi year effort with Western to commercialize graphene based sensing products. Dr. Jin Zhang, a leading researcher at UWO quotes: This project is to develop a portable sensor using advanced luminescent graphene-based nanostructures for quickly evaluating single-strand DNA. This advanced, cost-effective, and user-friendly DNA sensor can be utilized in a wide array of applications ranging from early-stage disease diagnosis in medicine; to the food industry. About Saint Jean CarbonSaint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green mining methods, with holdings in mining claims in the province of British Columbia in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: http://www.saintjeancarbon.com/ On behalf of the Board of Directors Saint Jean Carbon Inc.William Pfaffenberger, Chairman of the Board and President Information Contact:Email: info@saintjeancarbon.comTel: (250) 381-6181 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Saint Jean’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, “intends” ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘anticipates’’ 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’’. These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. Such statements include statements with respect to: (i) completion of the Acquisition; (ii) the approval by the TSX-V of the Private Placement; (iii) completion of the Private Placement; and (iv) the Company’s intention to use the proceeds of the Private Placement to fund its working capital in connection with the Acquisition for the next six-month period. Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

2021-05-11 - Yahoo! Finance: TSD.V News

Tsodilo Resources Limited Initiates Studies for the Preliminary Economic Assessment for the High-Grade Xaudum Iron Project in Botswana

TORONTO, ON / ACCESSWIRE / May 11, 2021 / Tsodilo Resources Limited (Tsodilo or the Company) (TSXV:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to provide an update on its wholly owned Xaudum Iron Project. The Company has initiated geochemical analysis for grade determination and geotechnical test-work for Rock Mass Rating (RMR) evaluation for the Preliminary Economic Assessment (PEA) of its Xaudum Iron Formation (XIF) project.

2021-05-11 - Yahoo! Finance: SPA.V News

Spanish Mountain Gold Reports Results of Pre-Feasibility Study Along with Mineral Reserve Estimate & Updated Mineral Resource Estimate

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Spanish Mountain Gold Ltd. (TSXV: SPA) (the Company) is pleased to announce the positive results of the Pre-Feasibility Study (the PFS) for the 100% owned Spanish Mountain gold project (the Project) located in central British Columbia, Canada. The PFS, which is prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects, delineates a Mineral Reserve within the near-surface/ higher-grade portion of the Mineral ...

2021-05-11 - Yahoo! Finance: SGU.V News

Signature Resources Increases its Land Position to 90% of the Lingman Lake Greenstone Belt and Provides Update on Drilling and Assaying Status From 2021 Lingman Lake Drill Program

A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below. A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below. A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below. A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below. TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) (Signature or the Company) is pleased to announce it has acquired an additional 45 claims (720 hectares) along the Southern contact of the Lingman Lake Greenstone Belt. The acquisition increases Signature’s land position to over 90% of the Lingman Lake Greenstone belt. “With the addition of these 45 claims, Signature continues to enhance the huge district scale potential of its 100% owned Lingman Lake land package. Signature’s Lingman Lake property now encompasses over 90% of the entire Lingman Lake Greenstone Belt and the all-important Greenstone contact margin. We continue to look forward to commencing regional and targeted exploration programs to assess this vast potential in the Spring and Summer.” Walter Hanych – Head Geologist, Director A map property showing the acquisition of the claims relative to the Company’s existing Lingman Lake property is presented below.https://www.globenewswire.com/NewsRoom/AttachmentNg/ca6520d9-19da-487b-8cab-7fd6da4b8d05 Terms of AcquisitionPursuant to the terms of the asset purchase agreement to acquire the additional 45 claims (the “Agreement”), Signature shall pay the vendor $8,000 in cash and issue the vendor 200,000 common shares in the capital of the Company at a deemed issue price of $0.20 per common share. The Agreement remains subject to final approval by the TSX Venture Exchange. Project UpdateThe previously announced 2021 drilling campaign being conducted at the Lingman Lake property is over 50% drilled and advancing towards completion rapidly. Signature has delivered its first two assay sample batches to the lab in April and is shipping a third early this week. These samples represent approximately the first 40% of the drilling targeting the first 200 metres of strike to the West of the diabase dike feature. Signature is excited about the data these results will provide with respect to significantly extending the scale of the known mineralization to the west. All the assay results from the first three batches of drilling are expected to be received mid to late this month. A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below.https://www.globenewswire.com/NewsRoom/AttachmentNg/4dae8deb-cbd6-4500-8480-012cf1dca94f About Signature The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths. *This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, Technical Report on the Lingman Lake Gold Property dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca , or contact: Jonathan HeldChief Financial Officer 416-270-9566 Cautionary Notes Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, receipt of approval from the TSX Venture Exchange, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

2021-05-11 - Yahoo! Finance: WHM.V News

White Metal Expands Bench Zone, Extends Strike Potential to 2.1 km and Plans for Additional Drilling at the Tower Stock Gold Project, Ontario

Thunder Bay, Ontario--(Newsfile Corp. - May 11, 2021) - White Metal Resources Corp. (TSXV: WHM) (White Metal or the Company) has received the final gold assay results from the Phase 1 2021 winter drilling program. Core assays from the 2021 drilling program clearly indicate the excellent potential for the Tower Stock Gold Project (the Project or the Property), which in addition to historical core assays show a broad horizon of low grade gold mineralization ...

2021-05-11 - Yahoo! Finance: MOON.V News

Blue Moon Upgrades to OTCQB

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / Blue Moon Metals Inc. (TSXV:MOON)(OTCQB:BMOOF) (the Company) is pleased to announce the Company's common shares will be upgraded and quoted on the OTCQB Market exchange in the United States effective today, May 11, 2021.

2021-05-11 - Yahoo! Finance: LI.V News

IIROC Trading Halt - LI

The following issues have been halted by IIROC:

2021-05-11 - Yahoo! Finance: FTT.TO News

Finning International, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 11, 2021 / Finning International, Inc. (OTC PINK:FINGF) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 11, 2021 at 10:00 AM Eastern Time.

2021-05-11 - Yahoo! Finance: ACP.V News

ArcPacific Cuts Massive Sulphide Mineralization Within Quartz Carb Vein in Hole 12 at Rickard Gold Project

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - ArcPacific Resources Corp. (TSXV: ACP) (ACP or the Company) is pleased to announce that its ongoing drilling program at the Rickard gold project (the Property) near Timmins, Ontario continues to intersect multiple zones of quartz-carbonate veining occurring over (up to) a 90 metre wide section in hole 11 (ACP-R-21-011). The Company has identified additional sulphide minerals including molybdenite occurring in stylolitic bands with graphite and ...

2021-05-11 - Yahoo! Finance: GTR.V News

Gatling Adds Second Rig to Accelerate Program Ahead of Resource Update; Commences Metallurgical Testing to Analyze Gold Recoveries

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / GATLING EXPLORATION INC. (TSXV:GTR)(OTCQB:GATGF) (the Company or Gatling) is pleased to announce that it has added a second drill rig to accelerate its exploration efforts ahead of the Q3 2021 resource update.

2021-05-11 - Yahoo! Finance: PGX.V News

Prosper Gold Mobilizes Field Crews to Site in Preparation for the Phase 1 10,000-meter Diamond Drill Program – Golden Sidewalk, Red Lake, ON

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (Prosper Gold or the Company) (TSXV:PGX) is pleased to announce that crews are on site in preparation for the 10,000-meter phase 1 diamond drill program at the Golden Sidewalk Project (the “Project”) in the Birch-Uchi region of Red Lake. Camp and drill trail construction is nearing completion, and the drill will be mobilized to site on May 15th to begin drilling at the newly identified Golden Corridor target area. (for details of the Golden Corridor see the Company’s Dec. 1, 2020 news release). Additional details of the drill program including maps will be released once the drilling has commenced. “Our crew has worked hard over the past 2 weeks constructing the camp in advance of the first ever drill program at the Golden Corridor,” commented Peter Bernier, CEO. “Additional Prosper personnel including geological staff are heading to site this week to begin drilling next week.” The Golden Corridor lies immediately north of a regional angular unconformity between the Narrow Lake and Balmer assemblages. Such regional unconformities may localize structural corridors for hydrothermal fluid migration and gold mineralization. At least two linear targets with potential strike lengths of greater than five km have been identified based on the coincidence of induced polarization resistivity-high and linear magnetic-low signatures, and their proximity to the regional unconformity. These targets are now supported by the existence of a significant pristine gold grain-in-till anomaly. The Company also announces that it has granted an aggregate of 600,000 incentive options (the Options) to purchase common shares of Prosper Gold to certain directors of the Company. The Options are exercisable at a price of $1.60 per common share until 5 years from the date of grant. The Company also granted 1,513,000 restricted share units (the “RSUs”) to certain officers, employees and consultants of the company. The RSUs are payable in common shares of the Company, or the cash equivalent, on the redemption date, being three years from the date of grant, and vest in three equal instalments over three years. The Options and RSUs were granted pursuant to the Company's stock option plan and restricted share unit plan, respectively. About the Golden Sidewalk The Golden Sidewalk is a district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news releases for details) in the western Birch-Uchi Greenstone Belt, approximately 60 km east of Red Lake, Ontario. The vehicle-accessible project straddles 12 kilometres of the Balmer Assemblage – Narrow Lake Assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide, but which has seen limited exploration in the project area. The recently identified “Golden Corridor” lies immediately north of the unconformity in the western portion of the property and is characterized as a highly prospective, greater than 5 kilometre trend of coincident favourable magnetic and resistivity lineaments supported by highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres. For a detailed overview of Prosper Gold visit www.ProsperGoldCorp.com Qualified Person The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., a Qualified Person under National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS Per: “Peter Bernier”Peter BernierPresident & CEO For further information, please contact: Peter BernierPresident & CEOProsper Gold Corp.Cell: (250) 316-6644Email: Pete@ProsperGoldCorp.com Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as anticipate, believe, plan, estimate, expect, and intend, statements that an action or event may, might, could, should, or will be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the planned exploration of the Golden Sidewalk project, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. 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.

2021-05-11 - Yahoo! Finance: AGO.V News

Aurcrest Gold Commences Drilling at Ranger Lake Property

TORONTO, ON / ACCESSWIRE / May 11, 2021 / AurCrest Gold Inc. (AurCrest or the Company) (TSXV:AGO) is pleased to announce that drilling has commenced on the Company's 100%-owned Ranger Lake Gold Property (the Property) in the Red Lake Mining District.

2021-05-11 - Yahoo! Finance: OCO.V News

OROCO GRANTS INCENTIVE STOCK OPTIONS

Vancouver, Canada, May 11, 2021 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) announces the grant of incentive stock options to its directors, officers, management personnel and consultants to acquire an aggregate of 4,425,000 common shares in the capital of the Company at an exercise price of $3.15 per share (the “Options”). The Options are exercisable for a three-year term, expiring on May 10, 2024, with 20% vesting immediately and a further 20% vesting every 6 months over the next two years. The Options were granted in accordance with the Company’s 10% rolling incentive stock option plan. As a result of these grants, the stock options issued by the Company represent 5.6% of its issued and outstanding capital. The grant of the Options is subject to the approval of the TSX Venture Exchange. ABOUT OROCO: The Company holds a net 73.2% interest in the collective 1,172.9 ha Core Concessions of the Santo Tomas Project in NW Mexico. The Company also holds a 77.5% interest in 7,807.9 ha of mineral concessions surrounding and adjacent to the Core Concessions (for a total project area of 22,192 acres). The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group’s Bahuerachi project, approximately 14 km to the north-east. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994. The Santo Tomas Project is located within 160km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Information This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. 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. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law. CONTACT: Craig Dalziel Oroco Resource Corp. (604) 688-6200 cdalziel@orocoresourcecorp.com

2021-05-11 - Yahoo! Finance: OSK.TO News

Osisko Drilling Returns High Grade at Lynx

180 g/t Au Over 2.2 Metres 46.8 g/t Au Over 3.3 Metres TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX Osisko or the Corporation) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. Significant new analytical results presented below include 28 intercepts in 18 drill holes (5 from surface, 13 from underground) and 3 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe. Osisko Chief Executive Officer John Burzynski commented: “Today’s infill results continue to demonstrate the strong continuity inside defined MRE blocks as well as our ability to add resources in the immediate surrounding areas.” Selected high-grade intercepts include: 180 g/t Au over 2.2 metres in OSK-W-21-2495; 46.8 g/t Au over 3.3 metres in OSK-W-21-2470, 32.2 g/t Au over 2.4 metres in OSK-W-21-2480, 27.2 g/t Au over 2.0 metres in WST-20-0585 and 21.9 g/t Au over 2.3 metres in WST-20-0639B. Maps showing hole locations and full analytical results are available at www.osiskomining.com Infill Drilling Hole NumberFrom (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridorOSK-W-20-2313-W9826.3829.02.76.53 TLX_3184Triple Lynxincluding827.2827.90.724.0 832.7835.02.37.10 TLX_3184Triple Lynxincluding833.5834.40.917.4 OSK-W-20-2394-W3659.0663.04.04.16 TLX_3171Triple LynxOSK-W-21-2470993.0996.33.346.834.3TLX_3164Triple Lynxincluding993.4993.80.4203100OSK-W-21-2482625.3627.62.310.4 TLX_3171Triple Lynxincluding626.4627.00.623.2 OSK-W-21-24951023.01025.02.04.80 LX4_3430Lynxincluding1023.01023.30.318.0 1027.01029.22.218030.7LX4_3430Lynxincluding1027.51028.10.6646100WST-20-0585157.7159.72.027.2 LXM_3359Lynxincluding158.2159.00.863.4 WST-20-0639B269.0271.32.321.9 LSX_3510Lynx SWincluding269.5270.40.941.7 298.0300.02.03.62 LSX_3556Lynxincluding298.4298.80.411.1 WST-21-0665328.4331.02.64.59 TLX_3166Triple Lynxincluding330.4331.00.611.4 WST-21-0677490.4492.42.011.8 LX4_3450Lynxincluding491.8492.40.639.1 WST-21-0696276.6279.22.63.66 TLX_3166Triple Lynxincluding277.4278.20.810.8 WST-21-070927.029.32.36.72 LXM_3303Lynxincluding27.628.71.113.8 WST-21-071028.030.02.05.14 LXM_3303Lynx 79.081.02.018.5 LXM_3304Lynxincluding79.680.30.752.5 WST-21-0729398.0403.05.03.69 TLX_3165Triple Lynxincluding402.6403.00.414.7 WST-21-0735338.0340.12.15.06 LSX_3501Lynx SWincluding338.8339.10.334.5 Notes: True widths are estimated at 55 – 80% of the reported core length interval. See Quality Control and Reporting Protocols below. LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx and LSX = Lynx Southwest (SW). Expansion Drilling Hole NumberFrom (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridorOSK-W-21-2480997.81000.22.432.225.1Lynx 4Lynxincluding998.9999.50.6129100OSK-W-21-2487691.2693.32.15.28 Lynx 4Lynxincluding691.7692.50.812.2 OSK-W-21-2487-W2655.0657.02.05.14 Lynx 4LynxOSK-W-21-2495986.0988.02.04.46 Lynx 4LynxWST-21-0640A308.7311.02.34.90 Lynx SWLynx SW 342.0344.02.04.85 Lynx SWLynx SWincluding342.5343.10.616.0 WST-21-068051.554.02.54.11 LynxLynxWST-21-0692532.3534.92.612.7 Triple LynxTriple Lynxincluding532.3532.60.371.8 WST-21-0729421.3425.34.05.72 Lynx 4Lynxincluding421.3421.80.526.9 WST-21-0757630.9633.02.16.99 Lynx 4Lynxincluding630.9631.70.818.3 Notes: True widths are estimated at 55 – 80% of the reported core length interval. See Quality Control and Reporting Protocols below. SW = Lynx Southwest (SW). Drill hole location Hole NumberAzimuth (°)Dip (°)Length (m)UTM EUTM NElevationSectionOSK-W-20-2313-W9134-52121845296554355834203450OSK-W-20-2394-W3138-52102045292354354674143375OSK-W-21-2470132-59123045330454356394153775OSK-W-21-2480121-55123045341254356334123875OSK-W-21-2482131-5793945300954353874133400OSK-W-21-2487359-7389745413554350583974225OSK-W-21-2487-W2359-7377745413554350583974225OSK-W-21-2495123-54125745342654355654103850WST-20-0585161-251894534185435305693725WST-20-0639B147-5435145310554350652313325WST-21-0640A165-5145645310454350642313325WST-21-0665141-5255245322954351271343475WST-21-0677144-426524532575435209963525WST-21-0680161-475594533225435235553600WST-21-0692157-545414533565435272163650WST-21-0696137-4949245322954351271343475WST-21-0709155-7944533605435194833625WST-21-0710154-9944533605435195833625WST-21-0729132-4951045322954351271353475WST-21-0735132-5847545295654350032533175WST-21-0757145-5070645322854351261353475 Lynx ZoneMineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact. Qualified PersonThe scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko's Windfall gold project, who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Quality Control and Reporting ProtocolsTrue width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d'Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (QA/QC) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay. About the Windfall Gold DepositThe Windfall gold deposit is located between Val-d'Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation's issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth. About Osisko Mining Inc.Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres). Cautionary Note Regarding Forward-Looking InformationThis news release contains forward-looking information within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as expects, or does not expect, is expected, interpreted, management's view, anticipates or does not anticipate, plans, budget, scheduled, forecasts, estimates, potential, feasibility, believes or intends or variations of such words and phrases or stating that certain actions, events or results may or could, would, might or will be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. CONTACT INFORMATION:John BurzynskiChief Executive OfficerTelephone (416) 363-8653

2021-05-11 - Yahoo! Finance: BTU.V News

BTU Defines New Base Metal Drill Targets East and South of the TNT Copper-Silver-Gold Discovery and Provides Drilling Update

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / BTU METALS CORP. (BTU or the Company) (TSX:V:BTU)(OTC PINK:BTUMF) today announces the results of recently completed geophysical surveys and re-interpretation of various previously completed geophysical surveys as they relate to last year's TNT copper silver gold discovery in the Dixie Lake area near Red Lake, Ontario.

2021-05-11 - Yahoo! Finance: BRO.V News

IIROC Trading Halt - BRO

The following issues have been halted by IIROC:

2021-05-11 - Yahoo! Finance: NOA.TO News

IIROC Trade Resumption - NOA

Trading resumes in:

2021-05-11 - Yahoo! Finance: KORE.V News

KORE Mining Ltd. Announces $8.0 Million Bought Deal Offering

KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (KORE or the Company) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters including PI Financial Corp. and Cormark Securities Inc. (collectively, the Underwriters), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 8,422,000 units (the Units) of the Company at a price of $0.95 per Unit (the Offering Price), for aggregate gross proceeds of $8,000,900 (the Offering).

2021-05-11 - Yahoo! Finance: SMN.V News

Sun Summit Drills 31.6 g/t Gold over 4.0 Metres Including 246 g/t Gold over 0.5 Metres in the Trench Zone and 1.07 g/t Gold over 109 Metres Including 7.17 g/t Gold over 5.2 Metres in the Horseshoe Zone; Buck Property, Central BC

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Sun Summit Minerals Inc. (TSXV: SMN) (OTC Pink: SMREF) (Sun Summit or the Company) is pleased to report initial drill results from its fully funded, 2021 exploration program on its Buck Property, central B.C. Assays from five of the 18 completed holes are reported.HighlightsSignificant high-grade gold mineralization was intersected in the Trench zone:31.6 grams per tonne (g/t) gold over 4.0 metres, including 246 g/t gold ...

2021-05-11 - Yahoo! Finance: MD.V News

Midland Identifies New Drilling Targets on Its Lewis Project Northwest of the Nelligan Deposit

Figure 1 Midland Abitibi projects Figure 2 Lewis project location Figure 3 Lewis geology and Red Giant showing Figure 4 Lewis Mag Figure 5 Trenches location Figure 6 Trench #1 Figure 7 Red Giant discovery Figure 8 Red Giant sample Figure 9 Red Giant trench Figure 10 Best channels 1-2 Figure 11 Best channel 3 Figure 12 IP survey location Figure 13 IP results and drilling targets MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that several new drilling targets have been identified as a result of a geophysical induced polarization (OreVision IP) survey completed last winter on the Lewis project. The survey was conducted in the vicinity of the new gold discovery made by prospecting on the Lewis project, wholly owned by Midland and located approximately 60 kilometres southwest of the town of Chapais, Abitibi, Quebec. This new project, acquired in April 2020, consists of 172 claims (95 km2) and covers a strategic position characterized by a regional flexure proximal to the Guercheville-Opawica deformation zone. The Lewis project is located approximately 60 kilometres northwest of the Nelligan deposit, jointly held by Iamgold Corporation (75%) and Vanstar Mining Resources (25%). Highlights: New gold system (Red Giant) with Qtz-Cb-Py over more than 9 metres in channel samples30-km geophysical (OreVision IP) survey identifies several new high-priority targetsCommencing a prospecting program in preparation for a drilling campaign New gold-bearing structure : Red Giant Last October, a mechanical stripping program was conducted to further assess the Red Giant showing discovered by prospecting in the summer of 2020 in the northwest part of the Lewis project, approximately 8 kilometres northeast of the former Lac Shortt mine. These occurrences yielded several anomalous gold values in grab samples, with grades ranging from 0.2 g/t Au to 2.1 g/t Au (see press release by Midland dated October 15, 2020). Stripping and channel sampling completed in October have confirmed the presence of a new gold-bearing structure over a width of more than 9 metres and a lateral distance of at least 25 metres. The gold-bearing zone is oriented east-west, shows increasing grade/thickness values westward, and remains completely open in this direction. Pyrite mineralization (3-5%) and quartz-carbonate veins are hosted in a mafic volcanic rock with strong ankerite and chlorite alteration. A total of four channel samples spaced 7 to 10 metres apart were collected on this structure over a lateral distance of 25 metres. From west to east, the channel samples yielded the following results: Channel #1: 0.35 g/t Au over 9.0 metres (open to the north and south)Channel #2: 0.38 g/t Au over 8.0 metres (open to the south) IP survey identifies new drilling targets An induced polarization survey totalling approximately 30 kilometres was completed last winter along the extensions of the Red Giant showing. The survey identified several anomalies, many of which remain unexplained. A particularly interesting anomaly was detected approximately 250 metres east of the Red Giant gold showing. This IP anomaly consists of coinciding resistivity and chargeability highs, typical of silicified zones, mineralized silicified zones, and potentially gold-bearing zones. A prospecting program will begin in the next weeks to investigate these new IP anomalies, in preparation for a maiden drilling campaign. The Lewis gold property is located approximately 60 kilometres northwest of the Nelligan deposit, which hosts NI 43-101 Inferred Resources of 97 million tonnes grading 1.0 grams per tonne of gold, equivalent to 3.2 million ounces of gold (Source : Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources). In addition, approximately 10 kilometres west of the Lewis property, the former Lac Shortt mine historically produced 2.7 million tonnes of ore grading 4.6 g/t Au (Source: MERN-SIGEOM). Cautionary statements The true thickness of mineralized zones intersected by channel samples has not been determined with available informations. Mineralization occurring at the Nelligan and Lac Shortt gold deposits is not necessarily indicative of mineralization that may be found on the Lewis property held by Midland. Quality Control Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks for every 20 samples. Samples from the Lewis project were analyzed by atomic absorption (AA-23) at ALS Minerals laboratories in Val d’Or, Quebec. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61) at ALS Minerals laboratories in Vancouver, British Columbia. About Midland Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value. This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland’s website or contact: Gino Roger, President and Chief Executive Officer Tel.: 450 420-5977 Fax: 450 420-5978 Email: info@midlandexploration.com Website: www.explorationmidland.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities. Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6a500fe-a509-4ded-aec5-aa9379de3aba https://www.globenewswire.com/NewsRoom/AttachmentNg/866b7487-60ed-440b-ac5c-da5422aebf61 https://www.globenewswire.com/NewsRoom/AttachmentNg/2ce09047-b45d-42e1-8688-199539df9c12 https://www.globenewswire.com/NewsRoom/AttachmentNg/e2a1ccb9-3122-4d6e-bbc8-58bdca519932 https://www.globenewswire.com/NewsRoom/AttachmentNg/4a70f8b6-c26f-45f5-977b-2c3cb4ad049a https://www.globenewswire.com/NewsRoom/AttachmentNg/e102d2ab-8069-459a-90c7-c94cae14afee https://www.globenewswire.com/NewsRoom/AttachmentNg/559f6b5a-d077-4e7e-ab16-32fdf9d6a19a https://www.globenewswire.com/NewsRoom/AttachmentNg/322f9361-8c1b-4efe-916b-cd28af0e492c https://www.globenewswire.com/NewsRoom/AttachmentNg/876fc542-74ff-4471-abcc-0d0fd59a9480 https://www.globenewswire.com/NewsRoom/AttachmentNg/51b64ebb-a3de-43fb-949d-f9c9df5b41f5 https://www.globenewswire.com/NewsRoom/AttachmentNg/301669fc-7d04-4ceb-afb2-de50ff5206e7 https://www.globenewswire.com/NewsRoom/AttachmentNg/16c64815-1368-42e7-9bc9-7e27987295a1 https://www.globenewswire.com/NewsRoom/AttachmentNg/8749b91e-113f-4f77-9c6f-f17b7b0d157a

2021-05-11 - Yahoo! Finance: SGQ.TO News

Can You Imagine How Elated SouthGobi Resources' (TSE:SGQ) Shareholders Feel About Its 450% Share Price Gain?

Active investing isn't easy, but for those that do it, the aim is to find the best companies to buy, and to profit...

2021-05-11 - Yahoo! Finance: SCOT.V News

Scottie Announces Bought Deal Private Placement of Flow-Through Shares

Scottie Resources Corp. (TSXV: SCOT) (Scottie or the Company) is pleased to announce that it has entered into an agreement with Stifel GMP, pursuant to which Stifel GMP will purchase, on a bought deal private placement basis, 20,000,000 flow-through common shares of the Company (the Charitable FT Shares) at a price of C$0.27 per Charitable FT Share (the Offering Price) for aggregate gross proceeds to the Company of C$5,400,000 (the Offering). The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 5,000,000 Charitable FT Shares at the Offering Price exercisable in whole or in part, at any time and from time to time on or prior to the date that is 48 hours prior to the Closing Date (as defined below).

2021-05-11 - Yahoo! Finance: AUMB.V News

1911 Gold Reports Additional Gold Intercepts at Tinney

1911 Gold Corporation (1911 Gold or the Company) (TSXV: AUMB) (OTCQX: AUMBF) is pleased to report results from five additional exploration drillholes at the Tinney project, within its 100% owned Rice Lake exploration properties in Manitoba. The Company has now drill tested a little more than half of the exposed strike length of the Gunnar porphyry intrusion, the principal control on the gold system at Tinney, to depths up to 450 meters. The widespread presence of gold mineralization, and intense alteration and veining intersected at depth, demonstrates potential for both scale and grade in this system.

2021-05-11 - Yahoo! Finance: BRZ.V News

REPEAT – Minera Salar Blanco, Agrees Strategic Alliance with Mitsui for the Development of Maricunga and Future Developments in Chile

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture: BRZ) (OTCQB:BLILF) is pleased to provide an update as announced by Minera Salar Blanco (“MSB”). __________________________________________________________________________________ The Alliance includes off-take, funding rights and further strategic collaboration for new lithium developments in Chile. _______________________________________________________________________________ MSB is pleased to announce that it has entered into a non-binding Memorandum of Understanding (the “MOU”) with the Japanese conglomerate Mitsui & Co., Ltd., (“Mitsui”) to set up a strategic alliance to advance the development of the Maricunga project (the “Project”). The MOU intends to create a partnership of the Project. The MOU also addresses the development of the Chilean lithium industry, by partnering to introduce other leading edge efficient and environmentally friendly technologies for processing. The strategic alliance includes potential off-take and funding rights for the Stage One of the Project; potential participation, off-take and funding rights for future expansions of the Project, and further strategic collaboration for new developments in Chile, based on new technology related to direct lithium extraction (the “DLE”) currently being studied and tested. In particular, the parties aim to achieve the following goals as a result of such strategic alliance: Off-Take Rights – Mitsui will have the right to purchase up to 15,000 tonnes annually of high purity lithium carbonate battery grade production from the Stage One of the Project for 10 years, extendable for 2 consecutive 5 years periods. The parties will agree on a price structure and terms of the off-take in a later stage, in order to be sufficiently bankable to support’s MSB’s debt funding requirements.The parties will leverage Mitsui’s considerable global logistics and battery materials marketing expertise on the distribution of the products. Right to Participate in Funding of Maricunga’s Stage One – Mitsui will have the right to participate directly in the funding of the Stage One of the Project. The parties will consider an optimized funding structure through a combination of equity-like and debt-like options.Participation in Future Expansions, Off-Take and Funding Rights – Subject to the parties agreeing to a financing proposal where Mitsui provides a relevant portion of the necessary funding of the capital expenditures required for the future expansion of the Project, Mitsui will have the first option for an off-take agreement to purchase a relevant portion of the future production of the expansion.MSB will use its best efforts to utilize new technology related to the DLE currently being studied and tested by Mitsui’s technical partners. Further Strategic Collaboration – MSB will collaborate with Mitsui for the development of other lithium related businesses in the country by introducing efficient and environmentally friendly processing technologies. In this context, MSB will commit to collaborate with Mitsui and its technical partner to facilitate the development and testing of the DLE technology at the Maricunga Salar, and provide a broader platform for the promotion of this technology. Terms and details of the definitive agreements will be finalised after completion of all necessary due diligence and transaction structuring and subject to each party’s internal approval. Minera Salar Blanco’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented: “We are incredibly pleased to have reached a mutually beneficial MOU with Mitsui. The MOU is comprehensive, and it sets a framework for the Stage One of the Project development to proceed with the backing of a world-renowned partner. We look forward to finalising the definitive agreements with Mitsui and working with them on mutually beneficial lithium projects and positive outcomes for the Chilean lithium industry. About Minera Salar Blanco (MSB) MSB is the owner of a lithium and potash project in Chile’s III Region, at the Maricunga Salar, which is in a very advance stage of development, having received its environmental approval on February 4th, 2020 by the Chilean authorities (Resolution #94) and with its definitive feasibility study released in January 2019, now being updated. The Project is in its first stage denominated the “Stage One” with a nameplate capacity of 15,000 annual tonnes of high purity lithium carbonate (the “Products”) over a 20-year mine life. It also provides significant future expansion potential from subsequent stages to be developed over the other part of the mining concessions owned by MSB. About Mitsui & Co. Ltd Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. About Bearing Lithium Corp. Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.35% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 60 million has been invested in the Maricunga Project. All Project Expenditures through to the delivery of a Definitive Feasibility Study in January 2019 have been fully funded by the 51% earn-in joint-venture partner, Lithium Power International. ON BEHALF OF THE BEARING LITHIUM BOARDSigned Gil Playford”Gil Playford, Chairmangplayford@bearinglithium.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. Cautionary Statements Regarding Forward Looking Information 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, without limitation, statements relating the future operating or financial performance of the Company, 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.. Actual future results may differ materially. 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 times. Except as required by law, 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 law.

2021-05-11 - Yahoo! Finance: PDM.V News

Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

Toronto, Ontario--(Newsfile Corp. - May 11, 2021) - Drilling continues to intersect impressive widths and grades of Platinum Group Elements (PGE) including 38 meters at 2.1 g/t Palladium equivalent (Pd_Eq) (Hole LK21-062) in the Lower Zone at Kaukua South, on the Läntinen Koillismaa (LK) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (Palladium One or the Company) today. Drilling has also expanded the strike length of the ...

2021-05-11 - Yahoo! Finance: CLZ.V News

Canasil Non-Brokered Private Placement Oversubscribed Increase from $500,000 to $750,000

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that the previously announced non-brokered private placement (the “Placement”) of up to 5,000,000 units (the Units”) at a price of $0.10 per Unit for total gross proceeds of up to $500,000 is oversubscribed and has been increased to 7,500,000 units for $750,000. All other terms remain unchanged. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange. Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.15 during the first year, increasing to $0.20 in year two following the closing of the offering. If, commencing after the fourth month after closing, the closing price of the Company’s shares exceeds $0.25 per share for a period of 20 consecutive trading days (the “Acceleration Trigger Date”), the Company will have the right to accelerate the expiry date of the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date. The Placement is expected to close by mid-May, 2021. The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital. About Canasil: Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico. For further information please contact: Bahman YaminiPresident and C.E.O.Canasil Resources Inc. Tel: (604) 709-0109www.canasil.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

2021-05-11 - Yahoo! Finance: ISO.V News

International Consolidated Uranium Acquires the High-Grade Matoush Uranium Project in Quebec, Canada

Select high-grade drill results Select high-grade drill results Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge. (Roscoe Postle Associates Inc, 2012) Infographic 3 Infographic 3 The Historic Estimate was reported to be contained within six zones. AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36 This table sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush. The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- International Consolidated Uranium Inc. (CUR or the Company) (TSXV: CUR) is pleased to announce that it has entered into a definitive share purchase agreement (the “Agreement”) whereby CUR will acquire a 100%, undivided interest, in the high-grade Matoush Uranium Project (“Matoush” or the “Property”) located in the Province of Quebec, Canada. Key Points: High-Grade and Substantial Historic Resources – Based on a press release issued by Strateco Resources Inc. (“Strateco”) on December 7, 2012, Matoush was considered to have the following historical Mineral Resources: Indicated Mineral Resources of 586,000 t at an average grade of 0.954% containing 12.329 m lbs of U3O8Inferred Mineral Resources of 1,686,000 t at an average grade of 0.442% containing 16.44 m lbs of U3O8This historical estimate is considered to be a “historical estimate” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”. Advanced Stage Project – An Updated Preliminary Economic Assessment on the Property was published in April of 2010 which contemplated access via a ramp decline, mining using longhole methods followed by cemented rock fill (CRF).Good Exploration Potential – The Matoush Fault Zone, the structure that controls the mineralization, has been identified over a strike length extending 11km southward and 5km northward beyond the historic resource area. In addition, many of the zones of mineralization within the historic Mineral Resources are open along strike and down plunge.Proven Mining Jurisdiction with Uranium Endowment – Quebec ranks highly as a mining jurisdiction and has seen significant past expenditures on uranium exploration by both major and junior mining companies.Compelling Acquisition Structure – Deferred cash and share based consideration offers potential to reduce the ultimate total purchase price equity dilution. Philip Williams, CEO commented, “We are very pleased to add another high-grade, advanced stage project, in a top ranked mining jurisdiction, to our global project portfolio. As with our other projects, Matoush was the subject of significant past exploration and economic evaluation work. It stands out for its high-grade and sizeable historical resource, ranking as one of the highest-grade undeveloped uranium projects outside of the Athabasca Basin in Saskatchewan as well as its promising exploration potential. We look forward to bringing a fresh perspective to development of the project with a focus on engagement with the local indigenous stakeholders before undertaking any project level activity. We recognize that uranium mining can be a lightning rod issue and, as such, it is incumbent on us to garner social acceptance before attempting to advance a project. Fortunately, uranium mining in Canada, under the strict regulation of the Canadian Nuclear Safety Commission, has an excellent track record with studies showing no significant impacts to the health of the public living near uranium mines or mills. Canada's long-standing experience in uranium mining has resulted in the development of stringent regulations and leading practices for the protection of health and safety of persons and the environment which, of course, we intend to adhere to fully.” Terms of the Share Purchase Agreement Pursuant to the Agreement, CUR will acquire 100% of the shares of a special purpose vehicle (the “SPV”) that holds a 100%, undivided interest, in the Property. The SPV, an indirect wholly-owned subsidiary of certain funds managed or advised by Third Eye Capital Corporation or its affiliates, acquired the Property free and clear of any encumbrances pursuant to an approval and vesting order granted by the Quebec Superior Court dated April 30, 2021 (the “Vesting Order”). The consideration payable by CUR pursuant to the Agreement on closing includes the issuance of such number of common shares in the capital of the Company (“Shares”) with a value of $3,000,000 at a price per Share based on the 20-day VWAP of the Shares on the TSX Venture Exchange (the “TSXV”) up to the date immediately prior to closing of the transaction, subject to a minimum of 2,000,000 Shares, and a cash payment of $3,500,000. A further deferred payment is due on or before the six-month anniversary of closing of the transaction comprised of such number of Shares with a value of $2,000,000 based on a price per Share based on the 20-day VWAP of the Shares on the TSXV up to the date prior to the deferred payment and $1,500,000 in cash. Closing of the transaction is subject to satisfaction of certain closing conditions including, among other things, the approval of the TSX Venture Exchange. All securities issued in connection with the Agreement are subject to a hold period expiring four months and one day from the date of issuance. The Matoush Uranium Project The Property is an advanced stage exploration project centrally located in the Province of Quebec, 210 km north of the Cree community of Mistissini and approximately 275 km north of the town of Chibougamau. The Property currently comprises 413 mining claims covering a total area of 21,670 hectares (217 km2). The overall project area extends ~24 kilometers from north to south and up to 12 kilometers in width. Uranium was first discovered on the Property by Uranerz Energy Corp. in 1980 with subsequent work by Ditem Exploration Inc. who optioned the property to Strateco in 2005 who has held the property since then. Mineralization at Matoush is similar to Athabasca unconformity type uranium deposits with regard to its occurrence in Proterozoic sedimentary rocks exhibiting similar alteration styles and structural controls. A notable divergence in the nature deposit at Matoush from the typical Athabasca style deposit is the lack of uranium mineralization at the actual unconformity. Uranium mineralization at Matoush occurs primarily in relatively flat lying accumulations between 150m and 600m above the basement unconformity within Indicator Formation Sandstones where they are breeched by structures. The penetrating structures have acted as conduits for the flow of mineralizing fluids and are often themselves associated with more steeply dipping zones of mineralization. It should be noted that mineralization is consistent with and roughly the same age as the Westmoreland Uranium project located in Queensland Australia. Higher-grade uranium mineralization typically sits in unit 3 of the host formation, which is a series of active channel facies, consisting of coarse-grained sandstones and poorly sorted pebble conglomerates. Unit 3 ranges in thickness from as little as 11m up to 457m at the western end of the basin with an increase in lithological heterogeneity as it thickens. The best grade mineralization is hosted in a pebble conglomerate with pebbles to 2 cms adjacent to the Matoush fault. High-grade mineralization has a strong structural control in addition to a specific host lithology, namely coarse-grained active channel facies sandstones and conglomerates. To view the table that includes select high-grade drill results please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/9c598427-505b-4adf-ae84-fb2845d09755 Prominent structural controls on mineralization include the basement penetrating Matoush Fault Zone which has been shown to host mineralization intermittently along three kilometers of its strike length. Uranium mineralization is typically associated with intersections between the Matoush Fault Zone and apparent paleo aquifers. The Matoush uranium mineralization occurs within a much broader alteration envelope and is characterized by replacement style disseminations and clots of fine-grained uraninite plus, in the higher-grade areas, semi-massive veins of uraninite. Yellowish orange, secondary uranophane is also present. The mineralization is distributed on both sides of the steeply dipping MFZ but is generally thicker on the south or hanging wall side. True widths of mineralized zones range from 1 m to 20 m. Geochemically, the mineralization is characterized by Cr, V, Co, Ni, Pb, Zn, Cu, Bi, Au, Se and Te. From its original and shallower drilling, Uranerz recognized a zoned alteration halo up to 50 m wide developed symmetrically around the Matoush Fault Zone and consisting of an inner tourmaline zone surrounded by a magnesium-chlorite and Cr-V muscovite zone. Hematite and limonite form the outermost halo. Exploration potential within the project area is considered positive as mineralization is open to both the north and south along strike from the existing resource. Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge. (Roscoe Postle Associates Inc, 2012): https://www.globenewswire.com/NewsRoom/AttachmentNg/e59d3bee-44f8-47b9-98ba-1aeef341352a In addition, favourable geological units, to host mineralization, occur abutting the Matoush Fault zone for 5 kilometers north and up to 11 kilometers south of the main zone of mineralization. To view the related infographic appearing here in the release, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/0b535535-54fa-4fc6-bc34-41985fa82f5c In the Property area, 538 drill holes totaling approximately 234,707 metres have been completed. These include 415 holes (188,123 m) in the main Matoush historic resource area and extensions. Historic Mineral Resources Roscoe Postle Associates Inc. (“RPA”), an independent consulting company, prepared a technical report on the Property in accordance with the disclosure standards of NI 43-101 entitled “Technical Report on the Mineral Resource Update for the Matoush Project, Central Québec, Canada” dated February 12, 2012. The Mineral Resource estimate was further updated by RPA in December 2012, as disclosed in a press release of Strateco dated December 7, 2012 (the “Historic Estimate”) and is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”. The Historic Estimate used drill hole data available as of November 22, 2012. A set of cross-sections and plan views were used to construct three-dimensional wireframe models at a cut-off grade of 0.1% U3O8. High-grade values were cut to 9% U3O8 prior to compositing. Variogram parameters were interpreted from two-metre composited values. Block U3O8 grades within the wireframe models were estimated by ordinary kriging. The Historic Estimate was reported to be contained within six zones: AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36 as shown in the following table: https://www.globenewswire.com/NewsRoom/AttachmentNg/774d28b4-95df-40a6-a362-82e2a285026c Notes:1. CIM definitions were followed for the Historic Estimate.2. The Historic Estimate was estimated at a cut-off grade of 0.1% U3O8.3. The Historic Estimate was estimated using an average long-term uranium price of US$75 per pound.4. A minimum mining width of 1.5 m was used.5. The MT34A lens is within both the MT-34 and AM-15 zones.6. Numbers may not add due to rounding. Global Historic Mineral Resource Table The table below sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush. The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. To view the table mentioned in the paragraph above, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d87441-c021-4581-9552-d5d0dd33194f Technical Disclosure and Qualified Person The scientific and technical information contained in this news release was prepared by Peter Mullens (FAusIMM), CUR’s VP Business Development, who is a “Qualified Person” (as defined in NI 43-101). Each of the above estimates are considered to be “historical estimates” as defined under NI 43-101, and have been sourced as follows: Ben Lomond: dated as of 1982, and reported by Mega Uranium Ltd. in a company report entitled “Technical Report on the Mining Leases Covering the Ben Lomond Uranium-Molybdenum Deposit Queensland, Australia” dated July 16, 2005;Georgetown/Maureen: dated as of June 25, 2008, and reported by Mega Uranium Ltd. in a company report entitled “A Review and Resource Estimate of the Maureen Uranium-Molybdenum Deposit, North Queensland, Australia Held by Mega Uranium Ltd.” dated June 25, 2008;Mountain Lake: dated as of February 15, 2005 and reported by Triex Mineral Corporation in a company report entitled “Mountain Lake Property Nunavut” dated February 15, 2005;Moran Lake: dated as of January 20, 2011 as revised March 10, 2011 and reported by Crosshair Exploration & Mining Corp. in a company report entitled “Technical Report on the Central Mineral Belt (CMB) Uranium – Vanadium Project, Labrador, Canada” dated January 20, 2011 as revised March 10, 2011;Laguna Salada: dated as of May 20, 2011 and reported by U3O8 Corporation in a company report entitled “NI 43-101 Technical Report Laguna Salada Initial Resource Estimate” dated May 20, 2011; andDieter Lake: dated 2006 and reported by Fission Energy Corp. in a company report entitled “Technical Report on the Dieter Lake Property, Quebec, Canada” dated October 7, 2011.Matoush: dated December 7, 2012 and reported by Strateco Resources Inc. in a press release dated December 7, 2012. In each instance, the historical estimate is reported using the categories of Mineral Resources and Mineral Reserves as defined by NI 43-101, but is not considered by the Company to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current Mineral Resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results. For Ben Lomond, as disclosed in the above noted technical report, the historical estimate was prepared by The Australian Atomic Energy Commission (AAEC) using a sectional method. The parameters used in the selection of the ore intervals were a minimum true thickness of 0.5 metres and maximum included waste (true thickness) of 5 metres. Resource zones were outlined on 25 metre sections using groups of intersections, isolated intersections were not included. The grades from the composites were area weighted to give the average grade above a threshold of 500 ppm uranium. The area was measured on each 25 metre section to give the tonnage at a bulk density of 2.603. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Ben Lomond historical estimate as a current Mineral Resource. For Georgetown/Maureen, as disclosed in the above noted technical report, the historical estimate was prepared by Mining Associates using a block model estimation methodology. Resource modelling was carried out on a database comprising 94,810 metres of combined drilling. Using a variety of estimation techniques, a 5x5x5 metre block model was constructed. This defined the shallow westward-dipping mineralization mantos which contain the higher grade zones. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Georgetown/Maureen historical estimate as a current Mineral Resource. For Mountain Lake, as disclosed in the above noted technical report, the historical estimate was prepared by F.R. Hassard, B.A.Sc., P. Eng. (Qualified Person) using the polygon method. The resource estimate was based on a minimum grade of 0.1% U3O8, a minimum vertical thickness of 1.0 metre and specific gravity of 2.5. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Mountain Lake historical estimate as a current Mineral Resource. For Moran Lake, as disclosed in the above noted technical report, the historical estimate was prepared by C. Stewart Wallis P. Geo, Barry A. Sparkes, P. Geo., Gary H. Giroux, P. Eng. (Qualified Person) using three-dimensional block models utilizing ordinary kriging to interpolate grades into each 10m x 10m x 4m high block. For the purpose of the vanadium resource estimate, a vanadium specific model was created in the Upper C rock package above the C Zone thrust fault. The vanadium model is based on a wireframe solid defining the vanadium mineralized envelope using an external cut-off of approximately 0.1% V2O5. For the purposes of the estimates, a specific gravity of 2.83 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Moran Lake historical estimate as a current Mineral Resource. For Laguna Salada, as disclosed in the above noted technical report, the historical estimate was prepared by Coffey Mining Pty. Ltd. using block models utilizing ordinary kriging to interpolate grades into each 1000m x 1000m x 10m parent cell. For the purposes of the estimate, bulk density of 1.7t/m³ was used for Lago Seco and 1.95t/m³ for Guanaco. The Company would need to conduct an exploration program, including trenching in order to verify the Laguna Salada historical estimate as a current Mineral Resource. For Dieter Lake, as disclosed in the above noted technical report, the historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method. Data constraints used were 200 ppm, 500 ppm, and 1000ppm U3O8 over a minimum of 1 metre thickness. Polygons created had radii of 200 metres. A rock density of 2.67g/cm3 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Dieter Lake historical estimate as a current Mineral Resource. For Matoush, as disclosed in the above noted press release, the historical estimate was prepared by RPA using block U3O8 grades within a wireframe model that were estimated by ordinary kriging. The historical estimate was estimated at a cut-off grade of 0.1% U3O8 and using an average long-term uranium price of US$75 per pound. Six zones make up the historical estimate at Matoush: AM-15, MT-34, MT-22, MT-02, MT-06, and MT-36. Each zone is made up of one or more lenses, most of which strike north (009°) and dip steeply (87°) to the east. Outlines of the mineralized lenses were interpreted on ten-metre spaced vertical sections. Minimum criteria of 0.10% U3O8 over 1.5 m true thickness was used as a guide. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Matoush historical estimate as a current Mineral Resource. About International Consolidated Uranium International Consolidated Uranium Inc. (formerly, NxGold Ltd.) is a Vancouver-based exploration and development company. The Company has entered option agreements to acquire five uranium projects in Australia, Canada and Argentina each with significant past expenditures and attractive characteristics for development; with Mega Uranium Ltd. (TSX: MGA) the right to acquire a 100% interest in the Ben Lomond and Georgetown uranium projects in Australia; with IsoEnergy Ltd. (TSXV: ISO) the right to acquire a 100% interest in the Mountain Lake uranium project in Nunavut, Canada; with a private individual the right to acquire a 100% interest in the Moran Lake uranium and vanadium project in Labrador, Canada; and with U3O8 Corp. (TSXV: UWE.H), the right to acquire a 100% interest in the Laguna Salada uranium and vanadium project in Argentina. The Company entered into the Mountain Lake option agreement with IsoEnergy on July 16, 2020, and the transaction remains subject to regulatory approval, as does the transaction with U3O8 Corp. on the Laguna Salada Project. In addition, the Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia and has entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut. Philip Williams President and CEOInternational Consolidated Uranium Inc.+1 778 383 3057pwilliams@consolidateduranium.com Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information. This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed and the work required to verify the historical estimates as a current Mineral Resources. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: whether the conditions to completion of the acquisition will be satisfied, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

2021-05-11 - Yahoo! Finance: MGA.TO News

International Consolidated Uranium Acquires the High-Grade Matoush Uranium Project in Quebec, Canada

Select high-grade drill results Select high-grade drill results Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge. (Roscoe Postle Associates Inc, 2012) Infographic 3 Infographic 3 The Historic Estimate was reported to be contained within six zones. AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36 This table sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush. The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- International Consolidated Uranium Inc. (CUR or the Company) (TSXV: CUR) is pleased to announce that it has entered into a definitive share purchase agreement (the “Agreement”) whereby CUR will acquire a 100%, undivided interest, in the high-grade Matoush Uranium Project (“Matoush” or the “Property”) located in the Province of Quebec, Canada. Key Points: High-Grade and Substantial Historic Resources – Based on a press release issued by Strateco Resources Inc. (“Strateco”) on December 7, 2012, Matoush was considered to have the following historical Mineral Resources: Indicated Mineral Resources of 586,000 t at an average grade of 0.954% containing 12.329 m lbs of U3O8Inferred Mineral Resources of 1,686,000 t at an average grade of 0.442% containing 16.44 m lbs of U3O8This historical estimate is considered to be a “historical estimate” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”. Advanced Stage Project – An Updated Preliminary Economic Assessment on the Property was published in April of 2010 which contemplated access via a ramp decline, mining using longhole methods followed by cemented rock fill (CRF).Good Exploration Potential – The Matoush Fault Zone, the structure that controls the mineralization, has been identified over a strike length extending 11km southward and 5km northward beyond the historic resource area. In addition, many of the zones of mineralization within the historic Mineral Resources are open along strike and down plunge.Proven Mining Jurisdiction with Uranium Endowment – Quebec ranks highly as a mining jurisdiction and has seen significant past expenditures on uranium exploration by both major and junior mining companies.Compelling Acquisition Structure – Deferred cash and share based consideration offers potential to reduce the ultimate total purchase price equity dilution. Philip Williams, CEO commented, “We are very pleased to add another high-grade, advanced stage project, in a top ranked mining jurisdiction, to our global project portfolio. As with our other projects, Matoush was the subject of significant past exploration and economic evaluation work. It stands out for its high-grade and sizeable historical resource, ranking as one of the highest-grade undeveloped uranium projects outside of the Athabasca Basin in Saskatchewan as well as its promising exploration potential. We look forward to bringing a fresh perspective to development of the project with a focus on engagement with the local indigenous stakeholders before undertaking any project level activity. We recognize that uranium mining can be a lightning rod issue and, as such, it is incumbent on us to garner social acceptance before attempting to advance a project. Fortunately, uranium mining in Canada, under the strict regulation of the Canadian Nuclear Safety Commission, has an excellent track record with studies showing no significant impacts to the health of the public living near uranium mines or mills. Canada's long-standing experience in uranium mining has resulted in the development of stringent regulations and leading practices for the protection of health and safety of persons and the environment which, of course, we intend to adhere to fully.” Terms of the Share Purchase Agreement Pursuant to the Agreement, CUR will acquire 100% of the shares of a special purpose vehicle (the “SPV”) that holds a 100%, undivided interest, in the Property. The SPV, an indirect wholly-owned subsidiary of certain funds managed or advised by Third Eye Capital Corporation or its affiliates, acquired the Property free and clear of any encumbrances pursuant to an approval and vesting order granted by the Quebec Superior Court dated April 30, 2021 (the “Vesting Order”). The consideration payable by CUR pursuant to the Agreement on closing includes the issuance of such number of common shares in the capital of the Company (“Shares”) with a value of $3,000,000 at a price per Share based on the 20-day VWAP of the Shares on the TSX Venture Exchange (the “TSXV”) up to the date immediately prior to closing of the transaction, subject to a minimum of 2,000,000 Shares, and a cash payment of $3,500,000. A further deferred payment is due on or before the six-month anniversary of closing of the transaction comprised of such number of Shares with a value of $2,000,000 based on a price per Share based on the 20-day VWAP of the Shares on the TSXV up to the date prior to the deferred payment and $1,500,000 in cash. Closing of the transaction is subject to satisfaction of certain closing conditions including, among other things, the approval of the TSX Venture Exchange. All securities issued in connection with the Agreement are subject to a hold period expiring four months and one day from the date of issuance. The Matoush Uranium Project The Property is an advanced stage exploration project centrally located in the Province of Quebec, 210 km north of the Cree community of Mistissini and approximately 275 km north of the town of Chibougamau. The Property currently comprises 413 mining claims covering a total area of 21,670 hectares (217 km2). The overall project area extends ~24 kilometers from north to south and up to 12 kilometers in width. Uranium was first discovered on the Property by Uranerz Energy Corp. in 1980 with subsequent work by Ditem Exploration Inc. who optioned the property to Strateco in 2005 who has held the property since then. Mineralization at Matoush is similar to Athabasca unconformity type uranium deposits with regard to its occurrence in Proterozoic sedimentary rocks exhibiting similar alteration styles and structural controls. A notable divergence in the nature deposit at Matoush from the typical Athabasca style deposit is the lack of uranium mineralization at the actual unconformity. Uranium mineralization at Matoush occurs primarily in relatively flat lying accumulations between 150m and 600m above the basement unconformity within Indicator Formation Sandstones where they are breeched by structures. The penetrating structures have acted as conduits for the flow of mineralizing fluids and are often themselves associated with more steeply dipping zones of mineralization. It should be noted that mineralization is consistent with and roughly the same age as the Westmoreland Uranium project located in Queensland Australia. Higher-grade uranium mineralization typically sits in unit 3 of the host formation, which is a series of active channel facies, consisting of coarse-grained sandstones and poorly sorted pebble conglomerates. Unit 3 ranges in thickness from as little as 11m up to 457m at the western end of the basin with an increase in lithological heterogeneity as it thickens. The best grade mineralization is hosted in a pebble conglomerate with pebbles to 2 cms adjacent to the Matoush fault. High-grade mineralization has a strong structural control in addition to a specific host lithology, namely coarse-grained active channel facies sandstones and conglomerates. To view the table that includes select high-grade drill results please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/9c598427-505b-4adf-ae84-fb2845d09755 Prominent structural controls on mineralization include the basement penetrating Matoush Fault Zone which has been shown to host mineralization intermittently along three kilometers of its strike length. Uranium mineralization is typically associated with intersections between the Matoush Fault Zone and apparent paleo aquifers. The Matoush uranium mineralization occurs within a much broader alteration envelope and is characterized by replacement style disseminations and clots of fine-grained uraninite plus, in the higher-grade areas, semi-massive veins of uraninite. Yellowish orange, secondary uranophane is also present. The mineralization is distributed on both sides of the steeply dipping MFZ but is generally thicker on the south or hanging wall side. True widths of mineralized zones range from 1 m to 20 m. Geochemically, the mineralization is characterized by Cr, V, Co, Ni, Pb, Zn, Cu, Bi, Au, Se and Te. From its original and shallower drilling, Uranerz recognized a zoned alteration halo up to 50 m wide developed symmetrically around the Matoush Fault Zone and consisting of an inner tourmaline zone surrounded by a magnesium-chlorite and Cr-V muscovite zone. Hematite and limonite form the outermost halo. Exploration potential within the project area is considered positive as mineralization is open to both the north and south along strike from the existing resource. Matoush Project example stratigraphic section showing mineralised lenses. Open along strike and down plunge. (Roscoe Postle Associates Inc, 2012): https://www.globenewswire.com/NewsRoom/AttachmentNg/e59d3bee-44f8-47b9-98ba-1aeef341352a In addition, favourable geological units, to host mineralization, occur abutting the Matoush Fault zone for 5 kilometers north and up to 11 kilometers south of the main zone of mineralization. To view the related infographic appearing here in the release, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/0b535535-54fa-4fc6-bc34-41985fa82f5c In the Property area, 538 drill holes totaling approximately 234,707 metres have been completed. These include 415 holes (188,123 m) in the main Matoush historic resource area and extensions. Historic Mineral Resources Roscoe Postle Associates Inc. (“RPA”), an independent consulting company, prepared a technical report on the Property in accordance with the disclosure standards of NI 43-101 entitled “Technical Report on the Mineral Resource Update for the Matoush Project, Central Québec, Canada” dated February 12, 2012. The Mineral Resource estimate was further updated by RPA in December 2012, as disclosed in a press release of Strateco dated December 7, 2012 (the “Historic Estimate”) and is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. See below under the heading “Global Historical Mineral Resource Table”. The Historic Estimate used drill hole data available as of November 22, 2012. A set of cross-sections and plan views were used to construct three-dimensional wireframe models at a cut-off grade of 0.1% U3O8. High-grade values were cut to 9% U3O8 prior to compositing. Variogram parameters were interpreted from two-metre composited values. Block U3O8 grades within the wireframe models were estimated by ordinary kriging. The Historic Estimate was reported to be contained within six zones: AM-15, MT-22, MT-34, MT-02, MT-06, and MT-36 as shown in the following table: https://www.globenewswire.com/NewsRoom/AttachmentNg/774d28b4-95df-40a6-a362-82e2a285026c Notes:1. CIM definitions were followed for the Historic Estimate.2. The Historic Estimate was estimated at a cut-off grade of 0.1% U3O8.3. The Historic Estimate was estimated using an average long-term uranium price of US$75 per pound.4. A minimum mining width of 1.5 m was used.5. The MT34A lens is within both the MT-34 and AM-15 zones.6. Numbers may not add due to rounding. Global Historic Mineral Resource Table The table below sets out the historical Mineral Resource estimates for each project CUR currently owns outright or on which it has announced an option agreement, including Matoush. The Mineral Resource estimate for each project is considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current. To view the table mentioned in the paragraph above, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d87441-c021-4581-9552-d5d0dd33194f Technical Disclosure and Qualified Person The scientific and technical information contained in this news release was prepared by Peter Mullens (FAusIMM), CUR’s VP Business Development, who is a “Qualified Person” (as defined in NI 43-101). Each of the above estimates are considered to be “historical estimates” as defined under NI 43-101, and have been sourced as follows: Ben Lomond: dated as of 1982, and reported by Mega Uranium Ltd. in a company report entitled “Technical Report on the Mining Leases Covering the Ben Lomond Uranium-Molybdenum Deposit Queensland, Australia” dated July 16, 2005;Georgetown/Maureen: dated as of June 25, 2008, and reported by Mega Uranium Ltd. in a company report entitled “A Review and Resource Estimate of the Maureen Uranium-Molybdenum Deposit, North Queensland, Australia Held by Mega Uranium Ltd.” dated June 25, 2008;Mountain Lake: dated as of February 15, 2005 and reported by Triex Mineral Corporation in a company report entitled “Mountain Lake Property Nunavut” dated February 15, 2005;Moran Lake: dated as of January 20, 2011 as revised March 10, 2011 and reported by Crosshair Exploration & Mining Corp. in a company report entitled “Technical Report on the Central Mineral Belt (CMB) Uranium – Vanadium Project, Labrador, Canada” dated January 20, 2011 as revised March 10, 2011;Laguna Salada: dated as of May 20, 2011 and reported by U3O8 Corporation in a company report entitled “NI 43-101 Technical Report Laguna Salada Initial Resource Estimate” dated May 20, 2011; andDieter Lake: dated 2006 and reported by Fission Energy Corp. in a company report entitled “Technical Report on the Dieter Lake Property, Quebec, Canada” dated October 7, 2011.Matoush: dated December 7, 2012 and reported by Strateco Resources Inc. in a press release dated December 7, 2012. In each instance, the historical estimate is reported using the categories of Mineral Resources and Mineral Reserves as defined by NI 43-101, but is not considered by the Company to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current Mineral Resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results. For Ben Lomond, as disclosed in the above noted technical report, the historical estimate was prepared by The Australian Atomic Energy Commission (AAEC) using a sectional method. The parameters used in the selection of the ore intervals were a minimum true thickness of 0.5 metres and maximum included waste (true thickness) of 5 metres. Resource zones were outlined on 25 metre sections using groups of intersections, isolated intersections were not included. The grades from the composites were area weighted to give the average grade above a threshold of 500 ppm uranium. The area was measured on each 25 metre section to give the tonnage at a bulk density of 2.603. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Ben Lomond historical estimate as a current Mineral Resource. For Georgetown/Maureen, as disclosed in the above noted technical report, the historical estimate was prepared by Mining Associates using a block model estimation methodology. Resource modelling was carried out on a database comprising 94,810 metres of combined drilling. Using a variety of estimation techniques, a 5x5x5 metre block model was constructed. This defined the shallow westward-dipping mineralization mantos which contain the higher grade zones. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Georgetown/Maureen historical estimate as a current Mineral Resource. For Mountain Lake, as disclosed in the above noted technical report, the historical estimate was prepared by F.R. Hassard, B.A.Sc., P. Eng. (Qualified Person) using the polygon method. The resource estimate was based on a minimum grade of 0.1% U3O8, a minimum vertical thickness of 1.0 metre and specific gravity of 2.5. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Mountain Lake historical estimate as a current Mineral Resource. For Moran Lake, as disclosed in the above noted technical report, the historical estimate was prepared by C. Stewart Wallis P. Geo, Barry A. Sparkes, P. Geo., Gary H. Giroux, P. Eng. (Qualified Person) using three-dimensional block models utilizing ordinary kriging to interpolate grades into each 10m x 10m x 4m high block. For the purpose of the vanadium resource estimate, a vanadium specific model was created in the Upper C rock package above the C Zone thrust fault. The vanadium model is based on a wireframe solid defining the vanadium mineralized envelope using an external cut-off of approximately 0.1% V2O5. For the purposes of the estimates, a specific gravity of 2.83 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Moran Lake historical estimate as a current Mineral Resource. For Laguna Salada, as disclosed in the above noted technical report, the historical estimate was prepared by Coffey Mining Pty. Ltd. using block models utilizing ordinary kriging to interpolate grades into each 1000m x 1000m x 10m parent cell. For the purposes of the estimate, bulk density of 1.7t/m³ was used for Lago Seco and 1.95t/m³ for Guanaco. The Company would need to conduct an exploration program, including trenching in order to verify the Laguna Salada historical estimate as a current Mineral Resource. For Dieter Lake, as disclosed in the above noted technical report, the historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method. Data constraints used were 200 ppm, 500 ppm, and 1000ppm U3O8 over a minimum of 1 metre thickness. Polygons created had radii of 200 metres. A rock density of 2.67g/cm3 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Dieter Lake historical estimate as a current Mineral Resource. For Matoush, as disclosed in the above noted press release, the historical estimate was prepared by RPA using block U3O8 grades within a wireframe model that were estimated by ordinary kriging. The historical estimate was estimated at a cut-off grade of 0.1% U3O8 and using an average long-term uranium price of US$75 per pound. Six zones make up the historical estimate at Matoush: AM-15, MT-34, MT-22, MT-02, MT-06, and MT-36. Each zone is made up of one or more lenses, most of which strike north (009°) and dip steeply (87°) to the east. Outlines of the mineralized lenses were interpreted on ten-metre spaced vertical sections. Minimum criteria of 0.10% U3O8 over 1.5 m true thickness was used as a guide. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Matoush historical estimate as a current Mineral Resource. About International Consolidated Uranium International Consolidated Uranium Inc. (formerly, NxGold Ltd.) is a Vancouver-based exploration and development company. The Company has entered option agreements to acquire five uranium projects in Australia, Canada and Argentina each with significant past expenditures and attractive characteristics for development; with Mega Uranium Ltd. (TSX: MGA) the right to acquire a 100% interest in the Ben Lomond and Georgetown uranium projects in Australia; with IsoEnergy Ltd. (TSXV: ISO) the right to acquire a 100% interest in the Mountain Lake uranium project in Nunavut, Canada; with a private individual the right to acquire a 100% interest in the Moran Lake uranium and vanadium project in Labrador, Canada; and with U3O8 Corp. (TSXV: UWE.H), the right to acquire a 100% interest in the Laguna Salada uranium and vanadium project in Argentina. The Company entered into the Mountain Lake option agreement with IsoEnergy on July 16, 2020, and the transaction remains subject to regulatory approval, as does the transaction with U3O8 Corp. on the Laguna Salada Project. In addition, the Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia and has entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut. Philip Williams President and CEOInternational Consolidated Uranium Inc.+1 778 383 3057pwilliams@consolidateduranium.com Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information. This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed and the work required to verify the historical estimates as a current Mineral Resources. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: whether the conditions to completion of the acquisition will be satisfied, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

2021-05-11 - Yahoo! Finance: EDR.TO News

Endeavour Silver Reports Financial Results for the First Quarter 2021; Earnings Conference Call at 10am PDT (1pm EDT) Today

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) released its financial results today for the three months ended March 31, 2021. The Company operates three silver-gold mines in Mexico: the Guanacevi mine in Durango state, the Bolanitos mine in Guanajuato state and the El Compas mine in Zacatecas state. Bradford Cooke, CEO, commented, “We are off to a good start in 2021, with the mining operations meeting our production plans notwithstanding the severe weather events that caused a slow down of production during the 1st quarter. As a result, our operating costs were a bit higher than plan but we expect costs to be lower going forward.” “Revenue, cash flow and earnings were all sharply higher in Q1, 2021 compared to Q1, 2020. The sale of El Cubo helped boost our earnings, offset by our decisions to hold back some metal inventory from sale near the end of the 1st quarter as well as elevated general and administrative expenses.” “The Terronera feasibility study is on track for completion in the 3rd quarter and exploration is ongoing at each of our mines and projects to test highly prospective targets. We have a busy year ahead, as our attention turns to developing our next core asset at Terronera.” 2021 First Quarter Highlights Metal Production: Produced 1,039,710 ounces (oz) silver, up 22% and 10,894 oz gold, up 31%, in line with guidance of 1.9 million oz silver equivalent (AgEq), up 26%, at an 80:1 silver:gold ratio, compared to Q1, 2020. Gross Sales: Total $35.1 million, up 58%, from the sale of 623,379 oz of silver and 10,663 oz gold at average realized prices of $27.17 per oz silver and $1,703 per oz gold. Held 523,235 oz silver and 1,123 oz gold of bullion inventory and 6,582 oz silver and 566 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of March. Operating Costs: Cash cost(1) $7.86 per oz payable silver, flat year-on-year and all-in sustaining cost (AISC)(1) $19.94 per oz payable silver, up 8% year-on-year, both net of gold credits. Cash Flow: $5.2 million in cash flow from operations before working capital changes, up 205% compared to Q1, 2020 as the Company accumulated finished goods, invested in exploration activities and advanced the Terronera Feasibility Study.Net Earnings: Earnings of $12.2 million or $0.08 per share, up sharply compared to a loss of $15.9 million in Q1, 2020 due to the reversal of the historical impairment of the El Cubo asset sold in April, offset by increased exploration activities, evaluation activities, and higher tax expense. Excluding the impairment reversal, the adjusted earnings resulted in a loss of $4.5 million. At quarter end, the finished golds inventory was carried at a cost of $8.0 million compared to the fair market value of $15.9 million. Agreement to Sell the El Cubo Assets: Advanced the sale of the El Cubo assets in Guanajuato, Mexico to Vangold Mining Corp for $15 million in cash and share payments with up to $3 million in contingent payments, with the transaction closing April 9, 2021. Balance Sheet: Cash position $86.0 million, up 473% and working capital $113.1 million, up 316% compared to Q1, 2020. Raised $30.1 million in equity financing through an ATM facility. Only term liabilities are equipment loans of $8.7 million, entered into in previous years to upgrade the mobile fleet. (1) Mine operating cash flow, cash costs and all-in sustaining costs are non-IFRS measures. Please refer to the definitions in the Company’s Management Discussion & Analysis. Financial Overview In Q1, 2021, net revenue increased 58% to $34.5 million as a result of higher metal prices and increased production. As a result, mine operating cash flows, operating cash flows and EBITDA all increased significantly compared to Q1, 2020. The Company recognized earnings of $12.2 million compared to a loss of $15.9 million in Q1, 2020. An impairment reversal of $16.8 million was recognized as a result of the classifying the El Cubo mine and related assets and liabilities, as held for sale in relation to the April 9th sale. Cost of sales for Q1, 2021 was $28.8 million, an increase of 16% over the cost of sales of $24.8 million for the same period of 2020. The increase in cost of sales was primarily related to significantly higher royalty costs and labour costs partially offset by improved productivity at the Guanacevi and Bolanitos operations. Royalties increased 187% to $2.5 million due to higher realized prices and the increased mining of the high grade Porvenir Cuatro extensions at the Guanacevi operation which is subject to the significantly higher royalty rates. The Company increased its finished goods silver and gold inventory to 529,817 oz and 1,689 oz, respectively at March 31, 2021 compared to 116,484 oz silver and 1,459 oz gold at December 31, 2020. The cost allocated to these finished goods was $8.0 million at March 31, 2021, compared to $3.6 million at December 31, 2020. At March 31, 2021, the finished goods inventory fair market value was $15.9 million, compared to $5.8 million at December 31, 2020. Financial Results (Consolidated Statement of Operations Appended Below) For the period ended March 31, 2021, the Company generated net revenue of $34.5 million an increase of 58% compared to $21.9 million. Gross sales of $35.1 million in Q1, 2021 represented a 57% increase over the $22.8 million for the same period in 2020. There was a 6% decrease in silver ounces sold and a 77% increase in the realized silver price resulting in a 66% increase to silver sales. There was a 43% increase in gold ounces sold with a 4% increase in realized gold prices resulting in a 49% increase in gold sales. During the period, the Company sold 623,379 oz silver and 10,663 oz gold, for realized prices of $27.17 and $1,703 per oz respectively, compared to sales of 665,500 oz silver and 7,454 oz gold, for realized prices of $15.33 and $1,633 per oz, respectively, in the same period of 2020. For the three months ended March 31, 2021, silver and gold spot prices averaged $26.26 and $1,794, respectively. After cost of sales of $28.8 million (Q1, 2020 - $24.8 million), mine operating earnings amounted to a $5.7 million (Q1, 2020 – loss of $2.9 million) from mining and milling operations in Mexico. Excluding depreciation and depletion of $7.5 million (Q1, 2020 - $6.0 million), stock-based compensation of $0.1 million (Q1, 2020- $0.1 million) mine operating cash flow before taxes was $13.3 million in Q1, 2021 (Q1, 2020 – $4.3 million). Operating earnings were $14.3 million (Q1, 2020 – loss of $8.6 million) after exploration and evaluation expenditures of $4.1 million (Q1, 2020 – $2.4 million), general and administrative expense of $3.5 million (Q1, 2020 – $2.0 million) and El Cubo care and maintenance costs of $0.5 million (Q1, 2020 – $1.3 million). An impairment reversal of $16.8 million was recognized as a result of the classifying the El Cubo mine and related assets and liabilities as held for sale in relation to the April 9th sale. Net earnings amounted to $12.2 million ($0.08 per share) compared to a net loss of $15.9 million (loss of $0.11 per share) in Q1, 2020. Current income tax expense increased to $0.7 million (Q1, 2020 – $0.3 million) related to an increase in special mining duty, while deferred income tax expense of $3.1 million was recognized due to the estimated use of loss carry forwards to reduce taxable income at Guanacevi and Bolanitos (Q1, 2020 – $1.9 million). Direct operating costs per tonne in Q1, 2021 increased 16%, to $112.36 compared with Q1, 2020 due to higher operating costs at Guanacevi and Bolanitos, offset by lower costs at El Compas. Guanacevi and Bolanitos have seen increased labour costs and increased third party ore purchased at Guanacevi compared to prior year. Including royalties and special mining duty, direct costs per tonne increased 24% to $126.23. Royalties increase 187% to $2.5 million as increased production from the El Curso concession at Guanacevi and higher prices substantially increased the royalty expense. The higher prices and higher grades increased special mining duty expense to $0.4 million for Q1, 2021. Consolidated cash costs per ounce, net of by-product credits (a non-IFRS measure and a standard of the Silver Institute) was flat at $7.86 as the higher grades and higher prices offset the higher direct costs per tonne. All-in sustaining costs (also a non-IFRS measure) increased 8% to $19.84 per ounce in Q1, 2021 as a result of higher corporate general and administrative costs and increased capital expenditures at Guanacevi to accelerate mine development within the El Curso ore body. In Q1, 2020 corporate general and administrative included a $1.1 million mark to market recovery of deferred share units expense whereas the mark to market recovery was $0.2 million in Q1, 2021. The Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis can be viewed on the Company’s website at www.edrsilver.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are reported in US$. Conference Call A conference call to discuss these results will be held today, Tuesday, May 11 at 10am PDT (1pm EDT). To participate in the conference call, please dial the numbers below. No pass-code is necessary. Toll-free in Canada and the US: 1-800-319-4610 Local Vancouver: 604-638-5340 Outside of Canada and the US: +-604-638-5340 A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass-code is 6594 #. The replay will also be available on the Company’s website at www.edrsilver.com. About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information: Galina Meleger, Director Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: gmeleger@edrsilver.com Website: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2021 including changes in mining operations and production levels, the timing and results of various activities and the impact of the COVID 19 pandemic on operations. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. ENDEAVOUR SILVER CORP.COMPARATIVE HIGHLIGHTS Q1 2021 HighlightsThree Months Ended March 312021 2020 % ChangeProductionSilver ounces produced1,048,100 857,659 22%Gold ounces produced11,109 8,476 31%Payable silver ounces produced1,036,710 849,791 22%Payable gold ounces produced10,894 8,320 31%Silver equivalent ounces produced1,936,820 1,535,739 26%Cash costs per silver ounce7.86 7.85 0%Total production costs per ounce15.41 16.35 (6%)All-in sustaining costs per ounce19.94 18.38 8%Processed tonnes209,453 199,327 5%Direct operating costs per tonne112.36 96.90 16%Direct costs per tonne126.23 101.63 24%Silver co-product cash costs15.16 11.51 32%Gold co-product cash costs950 1,226 (22%)FinancialRevenue ($ millions)34.5 21.9 58%Silver ounces sold623,379 665,500 (6%)Gold ounces sold10,663 7,454 43%Realized silver price per ounce27.17 15.33 77%Realized gold price per ounce1,703 1,633 4%Net earnings (loss) ($ millions)12.2 (15.9) 177%Adjusted net earnings (loss) ($ millions)(4.7) (15.9) 70%Mine operating earnings (loss) ($ millions)5.7 (2.9) 296%Mine operating cash flow ($ millions)13.3 4.3 211%Operating cash flow before working capital changes5.2 (5.0) 205%Earnings before ITDA ($ millions)24.0 (6.7) 457%Working capital ($ millions)113.1 27.2 316%ShareholdersEarnings (loss) per share – basic0.08 (0.11) 173%Adjusted earnings (loss) per share – basic(0.03) (0.11) 74%Operating cash flow before working capital changes per share0.03 (0.04) 194%Weighted average shares outstanding159,670,842 141,810,208 13% The above highlights are key measures used by management, however they should not be the sole measures used in determining the performance of the Company’s operations. The related definitions and reconciliations are contained in the Management Discussion and Analysis. ENDEAVOUR SILVER CORP.CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS(expressed in thousands in U.S. dollars) Three months ended March 31, March 31, 2021 2020 Operating activities Net earnings (loss) for the period $12,249 $(15,926) Items not affecting cash: Share-based compensation 1,165 745 Depreciation, depletion and amortization 7,624 6,268 Impairment reversal of non-current assets (16,791) - Deferred income tax expense 3,127 1,864 Unrealized foreign exchange loss (gain) 90 654 Finance costs 291 311 Write down of inventory to net realizable value - 1,042 Loss on asset disposal 34 78 Loss (gain) on other investments (2,546) (7)Net changes in non-cash working capital (9,166) 2,622 Cash from (used in) operating activities (3,923) (2,349) Investing activities Proceeds on disposal of property, plant and equipment 556 27 Mineral property, plant and equipment expenditures (7,270) (5,512)Purchase of marketable securities (832) - Proceeds from disposal of marketable securities 4,383 - Redemption of (investment in) non-current deposits (20) - Cash from (used in) investing activities (3,183) (5,485) Financing activities Repayment of loans payable (969) (772)Repayment of lease liabilities (42) (43)Interest paid (193) (218)Public equity offerings 30,100 1,485 Exercise of options 3,798 12 Share issuance costs (602) (74)Cash from (used in) financing activities 32,092 390 Effect of exchange rate change on cash and cash equivalents (80) (934) Increase (decrease) in cash and cash equivalents 24,986 (7,444)Cash and cash equivalents, beginning of the period 61,083 23,368 Cash and cash equivalents, end of the period $85,989 $14,990 This statement should be read in conjunction with the condensed consolidated interim financial statements for the period ended March 31, 2021 and the related notes contained therein. ENDEAVOUR SILVER CORP.CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME (LOSS)(expressed in thousands in U.S. dollars, except for share and per share amounts) Three months ended March 31, March 31, 2021 2020 Revenue $34,466 $21,927 Cost of sales: Direct production costs 18,728 16,800 Royalties 2,460 857 Share-based payments 118 91 Depreciation, depletion and amortization 7,496 6,023 Write down of inventory to net realizable value - 1,042 28,802 24,813 Mine operating earnings (loss) 5,664 (2,886) Expenses: Exploration and evaluation 4,130 2,382 General and administrative 3,523 2,005 Care and maintenance costs 521 1,345 Impairment reversal of non-current assets (16,791) - (8,617) 5,732 Operating earnings (loss) 14,281 (8,618) Finance costs 291 310 Other income (expense): Foreign exchange (694) (4,917)Investment and other 2,751 49 2,057 (4,868) Earnings (loss) before income taxes 16,047 (13,796) Income tax expense (recovery): Current income tax expense 671 266 Deferred income tax expense (recovery) 3,127 1,864 3,798 2,130 Net earnings (loss) and comprehensive earnings (loss) for the period 12,249 (15,926) Basic earnings (loss) per share based on net earnings (loss) $0.08 $(0.11)Diluted earnings (loss) per share based on net earnings (loss) $0.07 $(0.11) Basic weighted average number of shares outstanding 159,670,842 141,810,208 Diluted weighted average number of shares outstanding 163,742,420 141,810,208 This statement should be read in conjunction with the condensed consolidated interim financial statements for the period ended March 31, 2021 and the related notes contained therein. ENDEAVOUR SILVER CORP.CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION(expressed in thousands in U.S. dollars, except for share and per share amounts) March 31, December 31, 2021 2020 ASSETS Current assets Cash and cash equivalents $85,989 $61,083 Other investments 3,712 4,767 Accounts and other receivable 16,959 20,144 Income tax receivable 27 52 Inventories 21,774 16,640 Assets held for sale 17,503 - Prepaid expenses 3,208 2,284 Total current assets 149,172 104,970 Deposits 611 591 Deferred financing costs - 294 Income tax recoverable 3,570 - IVA receivable 2,672 2,676 Deferred income tax asset 9,705 12,753 Intangible assets 370 492 Right-of-use leased assets 725 861 Mineral properties, plant and equipment 86,559 87,955 Total assets $253,384 $210,592 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $25,867 $27,764 Income taxes payable 2,005 3,038 Loans payable 3,433 3,578 Lease liabilities 174 173 Liabilities held for sale 4,615 - Total current liabilities 36,094 34,553 Loans payable 5,270 6,094 Lease liabilities 886 921 Provision for reclamation and rehabilitation 4,357 8,876 Deferred income tax liability 1,159 1,077 Total liabilities 47,766 51,521 Shareholders' equity Common shares, unlimited shares authorized, no par value, issued and outstanding 164,706,112 shares (Dec 31, 2020 - 157,924,708 shares) 554,463 517,711 Contributed surplus 7,208 9,662 Retained earnings (deficit) (356,053) (368,302)Total shareholders' equity 205,618 159,071 Total liabilities and shareholders' equity $253,384 $210,592 This statement should be read in conjunction with the condensed consolidated interim financial statements for the period ended March 31, 2021 and the related notes contained therein.

2021-05-11 - Yahoo! Finance: FCC.V News

First Cobalt Doubles its Idaho Cobalt-Copper Land Position

First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) (the Company) announced that it increased the size of its land position surrounding its Iron Creek Project in Idaho, USA by more than 100%. By acquiring mining claims to the west of its existing cobalt-copper project, the Company expanded its land package to over 1,600 hectares.

2021-05-11 - Yahoo! Finance: CG.TO News

Centerra Gold Announces Quarterly Dividend of C$0.05 per common share

TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.05 per common share – approximately C$14.8 million or US$12.7 million. The quarterly dividend is payable on June 10, 2021 to shareholders of record on May 27, 2021. The dividend is an eligible dividend for Canadian income tax purposes. Centerra continues to proactively monitor closely the evolving situation relating to COVID-19 and how it may affect the Company’s business. The Company notes that going forward, in addition to the other factors that the Board of Directors normally considers in connection with the declaration of dividends, it will also need to carefully consider whether, and the extent to which, developments relating to COVID-19 affect its dividend program. Centerra also notes that there is a great deal of uncertainty regarding the Kumtor Mine due to recent legislative changes in the Kyrgyz Republic, public rhetoric regarding nationalization, and tax and legal claims and investigations relating to the Kumtor Mine. Going forward, the Board of Directors will also need to carefully consider whether, and the extent to which, developments surrounding Kumtor will affect its declaration of future dividends. In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating results, cash flow and financial conditions, Centerra’s current and anticipated capital requirements, and general business conditions. About Centerra GoldCenterra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest Western-based gold producers in Central Asia. Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the Öksüt Mine in Turkey. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG and on the New York Stock Exchange (NYSE) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada. For more information:John W. PearsonVice President, Investor Relations(416) 204-1953john.pearson@centerragold.com Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar. A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/618f558c-14be-43a7-b946-7ec525bf6349

2021-05-11 - Yahoo! Finance: ASND.TO News

Ascendant Resources Announces C$3.9 Million Debenture Funding to Deliver Enhanced Metallurgical Testwork and a New PEA at Its Lagoa Salgada Project in Portugal

• NEW 43-101 PEA EXPECTED TO ADD SIGNIFICANT SCALE AND LONGEVITY FROM PREVIOUS PEA BY USING COMBINED NORTH AND SOUTH ZONE RESOURCES • CONFERENCE CALL FOR COMPANY UPDATE AND INTRODUCTION TO JOAO BARROS THURSDAY 12PM MAY 13TH NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX: ASND) (Ascendant or the Company) is pleased to announce that it has completed a C$3,900,000 non-brokered private placement of secured non-convertible debenture units (the Private Placement). The Company intends to use the proceeds from the Private Placement to continue with detailed metallurgical test work and complete a new 43-101 Preliminary Economic assessment on both the North and South zones as well as for working capital and general corporate purposes. The metallurgical test work is expected to be completed to a Pre-Feasibility Report level of study given the nature of the ores typically seen in the region. These results along with a newly updated Mineral Resource Estimate will then be used to undertake a new Preliminary Economic Assessment (PEA) in compliance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects. The new PEA is planned to incorporate the mineral resources from both the North and South zones into one, larger scale operation, with a longer mine life and increased throughput rates relative to the previous PEA completed which focused solely on the North Zone as a stand-alone project. The new results are expected to show a material increase in the economic potential offered at Lagoa Salgada. Delivery of the new PEA is scheduled to be completed by mid August. Mark Brennan, Ascendant's Executive Chairman, commented, We are pleased to have secured this funding on attractive terms. The proceeds will allow the Company to continue advancing metallurgical test work and fund the completion of a new Preliminary Economic Assessment of a larger, combined project incorporating both the North and South Zones, which we expect to demonstrate the robust potential at Lagoa Salgada. We strongly believe Lagoa Salgada has the potential to become one of the premier mines in the Iberian Pyrite Belt, given the numerous similar characteristics it holds to other projects located in the region. Pursuant to the Private Placement, the Company issued 3,900 debenture units (each, a Unit) at a price of $1,000 per Unit for an aggregate principal of C$3,900,000. Each Unit consists of $1,000 principal amount of 10% secured debentures (Debentures) and 3,333 common share purchase warrants (Debenture Warrants). Each Debenture Warrant entitles the holder to acquire one common share of the Company (Common Shares) at an exercise price of C$0.30 per Common Share for a period of 60 months from the date of issuance. The Debentures bear interest at a rate of 10.0% per annum and will mature 18 months from the date of issuance. The Company paid an arm's length finder a cash fee of C$273,000 and issued the finder 1,365,000 common share purchase warrants (each a Finder Warrant). Each Finder Warrant entitles the holder to acquire one Common Share at an exercise price of CAD $0.17. The Debentures are secured by a pledge of 3,000,000 common shares in the capital of Cerrado Gold Inc. by four individuals: Mark Brennan, Stephen Shefsky, Solomon Pillersdorf, and Cliff Hale Sanders (the Pledgors) pursuant to a limited-recourse guarantee and share pledge agreement between each Pledgor and the debenture holder (the Pledgor Guarantee Agreements). The Company has agreed to guarantee and indemnify the Pledgors in the event that the holder of the Debentures enforces its security pursuant to the Pledgor Guarantee Agreements pursuant to a limited-recourse guarantee and indemnity agreement entered into between the Company and the Pledgors. In addition, the Company entered into a pledge quota agreement with the Pledgors pursuant to which it granted a security interest in its equity ownership of Redcorp Empreendimentos Mineiros LDA, a Portuguese private limited liability company. The Company also issued 3,000,000 common share purchase warrants to the Pledgors (each a Pledgor Warrant). Each Pledgor Warrant entitles the holder to acquire one Common Share at an exercise price of CAD $0.17 per Common Share for a period of 36 months from the date of issuance. The Private Placement constitutes a related party transaction as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (61-101) as three of the four Pledgors are related parties of the Company (as defined in 61-101). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101: (i) the Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves the related parties, is not more than the 25% of the Company's market capitalization; and (ii) the Company is exempt from the minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves the related parties, is not more than the 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing date of the Private Placement as the details of the Private Placement and the participation by each related party of the Company were not settled until shortly prior to the closing of the Private Placement, and the Company wished to close the Private Placement on an expedited basis for sound business reasons. Securities issued in connection with the Private Placement to persons subject to Canadian securities laws are subject to a hold period of four months and one day in accordance with applicable securities legislation. Certain other securities were issued in connection with the Private Placement to persons in offshore jurisdictions pursuant to Ontario Securities Commission Rule 72-503 - Distributions Outside Canada and such securities are not subject to a statutory hold period. Investor Call Topic: Ascendant Investor Update Time: May 13, 2021 12:00 PM Eastern Time (US and Canada) Join Zoom Meeting https://zoom.us/j/96168110188?pwd=dS9HY3l3VVY1Sm96UFhFaUVYUnZ4dz09 Meeting ID: 961 6811 0188 Passcode: 158299 One tap mobile +13126266799,,96168110188#,,,,*158299# US (Chicago) +13462487799,,96168110188#,,,,*158299# US (Houston) Dial by your location +1 312 626 6799 US (Chicago) +1 346 248 7799 US (Houston) +1 669 900 6833 US (San Jose) +1 929 205 6099 US (New York) +1 253 215 8782 US (Tacoma) +1 301 715 8592 US (Washington DC) Meeting ID: 961 6811 0188Passcode: 158299Find your local number: https://zoom.us/u/aPXtpUgiE About Ascendant Resources Inc.Ascendant is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Through focused exploration and aggressive development plans, the Company aims to unlock the inherent potential of the project, maximizing value creation for shareholders. Lagoa Salgada contains over 14.75 million tonnes of M&I Resources and 11.88 million tonnes in Inferred Resources and demonstrates typical mineralization characteristics of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 10,700ha property concession. The project also demonstrates compelling economics with scalability for future resource growth in the results of the Preliminary Economic Assessment. Located just 80km from Lisbon, Lagoa Salgada is easily accessible by road and surrounded by exceptional Infrastructure. Ascendant holds a 21.25% interest in the Lagoa Salgada project through its 25% position in Redcorp - Empreendimentos Mineiros, Lda, (Redcorp) and has an earn-in opportunity to increase its interest in the project to 80%. Mineral & Financial Investments Limited owns the additional 75% of Redcorp. The remaining 15% of the project is held by Empresa de Desenvolvimento Mineiro, S.A., a Portuguese Government owned company supporting the strategic development of the country's mining sector. The Company's interest in the Lagoa Salgada project offers a low-cost entry to a potentially significant exploration and development opportunity, already demonstrating its mineable scale. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol ASND. For more information on Ascendant, please visit our website at www.ascendantresources.com. Additional information relating to the Company, including the Preliminary Economic Assessment referenced in this news release, is available on SEDAR at www.sedar.com. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. For further information please contact: Mark BrennanNicholas Campbell, CFACEO, Executive Chairman, FounderManager, Corporate DevelopmentTel: +1-647-796-0023Tel: +1-905-630-0148mbrennan@ascendantresources.com ncampbell@ascendantresources.com Forward Looking Information This news release contains forward-looking statements and forward-looking information (collectively, forward-looking information) within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as plans, expects, budget, guidance, scheduled, estimates, forecasts, strategy, target, intends, objective, goal, understands, anticipates and believes (and variations of these or similar words) and statements that certain actions, events or results may, could, would, should, might occur or be achieved or will be taken (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as providing the Company with, is currently, allows/allowing for, will advance or continues to or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note. Forward-looking information in this news release includes, but is not limited to, statements regarding the exploration activities and the results of such activities at the Lagoa Salgada Project, the ability of the Company to advance the Lagoa Salgada Project to a Preliminary Economic Assessment, and the ability of the Company to fund the exploration. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Ascendant at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Ascendant identified and were applied by Ascendant in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, the success of the exploration activities at Lagoa Salgada Project, the Company advancing the project to a Preliminary Economic Assessment, the ability of the Company to fund the exploration program at Lagoa Salgada, and other events that may affect Ascendant's ability to develop its project; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets.

2021-05-11 - Yahoo! Finance: CG.TO News

Centerra Gold Records Net Earnings of $167.4 million or $0.57 per Common Share, Adjusted Net Earnings (Non-GAAP) of $84.2 million or $0.28 per Common Share, Cash from Operations of $153.1 million and Free Cash Flow (Non-GAAP) of $72.1 million

Key Currencies vs. the US Dollar Key Currencies vs. the US Dollar Kumtor Q1 cash provided by mine operations ($ millions) Kumtor Q1 cash provided by mine operations ($ millions) Kumtor Q1 All-in sustaining costs on a by-product basis per ounce (Non-GAAP) ($) Kumtor Q1 All-in sustaining costs on a by-product basis per ounce (Non-GAAP) ($) Mount Milligan Q1 cash provided by mine operations ($ millions) Mount Milligan Q1 cash provided by mine operations ($ millions) Mount Milligan Q1 All-in sustaining costs on a by-product basis per ounce (Non-GAAP) ($) Mount Milligan Q1 All-in sustaining costs on a by-product basis per ounce (Non-GAAP) ($) Molybdenum Oxide Price $USD/lb (Jan 1, 2020 - March 31, 2021) Molybdenum Oxide Price $USD/lb (Jan 1, 2020 - March 31, 2021) All figures are in United States dollars and all production figures are on a 100% basis unless otherwise stated. This news release contains forward looking information regarding Centerra Gold’s business and operations. See “Caution Regarding Forward-Looking Information”. All references in this document denoted with NG, indicate a non-GAAP term which is discussed under “Non-GAAP Measures” and reconciled to the most directly comparable GAAP measure. TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG and NYSE: CGAU) today reported its first quarter 2021 results. Key events and operating results of the first quarter included: Net earnings and adjusted net earningsNG of $167.4 million, $0.57 per common share (basic), and $84.2 million, $0.28 per common share (basic), respectively.Cash flow from operations and free cash flowNG of $153.1 million and $72.1 million, respectively.Cash position at quarter-end of $823.2 million with total liquidity of $1,223 million.Consolidated Production of 160,346 ounces of gold and 18.6 million pounds of copper.Gold production costs and copper production costs were $561 per ounce and $1.42 per pound, respectively.All-in sustaining costs on a by-product basisNG and All-in costs on a by-product basisNG were $745 per ounce and $1,073 per ounce, respectively.Finalized the sale of 50% interest in Greenstone Gold Mines Partnership for cash consideration of $210 million and contingent consideration of approximately $75 million. A gain of $72.3 million was recorded on the sale (excluding contingent consideration).Recent Kyrgyz Republic Developments resulted in several new legislative changes and legal claims affecting the Kumtor Mine, including a new Kyrgyz Republic law which could result in “external management” being imposed on Kumtor Gold Company (“KGC”), a $3 billion civil claim against KGC; various tax claims estimated at $352 million and several new and re-opened criminal investigations.Mount Milligan water permits extension received in April 2021, extending access to surface water sources to November 2023.Commenced trading on the New York Stock Exchange under the symbol “CGAU” on April 15, 2021.Quarterly Dividend declared of CAD$0.05 per common share. Commentary Scott Perry, President and Chief Executive Officer of Centerra stated, “During the first quarter we continued to demonstrate positive safety performance as the Kumtor mine achieved one-year lost time injury free and Endako achieved six years reportable injury free. Across the organization we continue to stay vigilant with respect to the COVID-19 virus, proactively maintaining our rigorous safety protocols to prevent an outbreak and reduce the spread of the COVID-19 virus for the health and safety of our employees, contractors, communities and other stakeholders.” “In the first quarter, our three operating mines continued to deliver solid performances, including the Mount Milligan mine which generated record quarterly free cash flow. Company-wide our operations in the quarter delivered gold production of 160,346 ounces at all-in sustaining costsNG on a by-product basis of $745 per ounce. The Mount Milligan mine produced 42,576 ounces of gold and 18.6 million pounds of copper at all-in sustaining costsNG on a by-product basis of $367 per ounce, making it our lowest cost producer in the quarter. The Kumtor mine produced 90,169 ounces of gold at all-in sustaining costsNG on a by-product basis of $888 per ounce and the Öksüt mine produced 27,601 ounces of gold at all-in sustaining costsNG on a by-product basis of $804 per ounce as it now enters its first full year of commercial production.” “Financially, the Company generated $153.1 million of cash from operations for the first three months of 2021, which includes $89.7 million from the Mount Milligan mine, $66.7 million from the Kumtor mine and $32 million from the Öksüt mine. Company-wide free cash flowNG generated in the first quarter of 2021 totalled $72.1 million, including $80.2 million from the Mount Milligan mine, $25.7 million from the Öksüt mine and $4 million from the Kumtor mine. With the proceeds of the disposition of the Greenstone property, we finished the quarter with a cash position of $823.2 million.” “Based on the Company’s financial position, strong operating results and cash flows, the Board approved on May 10, 2021, a quarterly dividend of CAD$0.05 per share.” “The Company notes that there is a great deal of uncertainty regarding future production and operations at the Kumtor Mine due to recent legislative changes in the Kyrgyz Republic relating to the Kumtor Mine. Accordingly, the 2021 guidance and previously disclosed 3-year outlook should be viewed with caution. We remain on track to achieve 2021 production and cost guidance at our Mount Milligan and Öksüt mines, and the Company is expected to generate $160 million (guidance midpoint) in free cashflow, excluding the Kumtor Mine.” “The Company remains committed to trying to work with Kyrgyz Republic authorities to resolve these issues in accordance with the 2009 restated project agreements applicable to the Kumtor Mine, if the authorities are willing to do so. However, the Company will also use all legal avenues to defend itself against baseless environmental and tax cases in the Kyrgyz Republic as well against legislative changes that not only violate but fundamentally undermine the terms of the 2009 restated project agreements.” “Recently, the Company successfully listed and commenced trading on the New York Stock Exchange to increase the Company’s visibility and exposure to investors in the United States.” New York Stock Exchange Listing Centerra’s common shares began trading on the New York Stock Exchange (NYSE) under the symbol “CGAU” on Thursday, April 15, 2021. Kyrgyz Republic Update As previously disclosed, the Kyrgyz Republic Parliament passed a law on May 6, 2021 which would enable the Kyrgyz Republic Government to impose “external management” on companies in the Kyrgyz Republic operating under concession agreements. The sponsor of the law, Mr. Akylbek Japarov, has acknowledged that the only project operating under a concession agreement in the Kyrgyz Republic is the Kumtor Mine and therefore this new law purports to regulate only the Kumtor Project. The Company understands that this newly adopted law on external management would apply in circumstances where Kumtor Gold Company (KGC) violates certain Kyrgyz laws relating to safety and thereby creates an immediate threat to the life or health of people. In such instances, the law would (i) enable the Prime Minister of the Kyrgyz Republic to appoint an external manager to take control of all management activities of KGC, including its bank accounts, and (ii) prohibit the Company or KGC’s board of directors from directing the external managers (or else face criminal sanctions). Mr. A. Japarov is also the Chairman of the Kyrgyz Republic State Commission which was formed in February 2021 to review the activities of the Kumtor Mine and is expected to report its findings shortly. The Company is also aware of other draft laws and decrees in the Kyrgyz Republic which seek to undermine the 2009 restated Kumtor project agreements and the tax and fiscal regime under which the Kumtor Mine has operated since 2009. It is unclear whether such drafts have progressed past the proposal stage. On May 7, 2021, a Kyrgyz Republic court ruled against KGC in a case brought by four Kyrgyz Republic private citizens seeking a determination that KGC’s past practice of placing waste rock on glaciers was illegal. The court awarded damages of over U.S.$3 billion in favour of the Kyrgyz Republic. The Company notes that one of the claimants is the son of the current Director of the Kyrgyz Republic State Agency for Environment Protection and Forestry. The Company has also received further tax assessments from the Kyrgyz Republic State Tax Service which when, combined with previous tax claims, amount to hundreds of millions of dollars. As the Company has noted many times, the 2009 restated Kumtor project agreements provide a solid foundation for Kumtor’s operations and were approved by the Kyrgyz Republic Parliament and Constitutional Court in 2009. Those agreements were re-affirmed by the Government of the Kyrgyz Republic in 2017 when it entered into the Strategic Agreement on Environmental Protection and Investment Promotion which was completed and became fully effective in 2019. KGC’s operations and activities have always carefully adhered to those agreements and applicable laws. Furthermore, the Strategic Agreement included a release of the Company and KGC by the Kyrgyz Republic Government of all outstanding claims at such time, including damages for harm allegedly caused to the environment from storing production tails on glaciers. The Company therefore believes strongly that the claims advanced by the State Tax Service and such individual Kyrgyz Republic claimants are meritless and the new and draft Kyrgyz Republic laws noted above, if implemented, would clearly violate the 2009 restated project agreements and the 2009 Kyrgyz Republic laws which confirmed such agreements. The Kumtor Mine’s environmental performance adheres to international standards, including those of the European Bank for Reconstruction and Development, and has been audited multiple times by, among others, the Kyrgyz Government’s own environmental consultant, AMEC Foster Wheeler. AMEC’s reports have confirmed that the Kumtor Mine is operated in accordance with international best practice and its recommendations for improvements have been fully implemented by the Company in a manner agreed by the Kyrgyz Government in the 2017 Strategic Agreement. In terms of Kumtor’s safety record, the mine recently achieved, one year of operations free of any lost time injuries. The Company believes that the actions of the Kyrgyz Republic authorities described above are a concerted effort to coerce Centerra to give up economic value or ownership of the Kumtor Mine or to falsely justify a nationalization of the Kumtor Mine. While the Company has benefited from a close and constructive dialogue with the Kyrgyz Republic authorities over many years and remains committed to trying to work with them to resolve any outstanding issues in accordance with the 2009 Restated Project Agreements applicable to the Kumtor Mine, it will not hesitate to use all legal avenues to protect its rights and interests and those of its shareholders and it intends to pursue its claim in international arbitration proceedings. No assurances can be given that any of the current or future legal claims of the State Tax Service or individual claimants, disputes as to the application of current or future Kyrgyz Republic laws relating to the Kumtor Mine, the results of the State Commission review or any other future regulatory, civil or criminal claims impacting KGC or Centerra can be resolved without a material impact on the Company. See “Contingencies” for further information relating to these Kyrgyz Republic developments. COVID-19 Update Centerra continues to prioritize the health, safety and well-being of its employees, contractors, communities, and other stakeholders during the current outbreak of COVID-19 and to take steps to minimize the effect of the pandemic on its business. The Company has established strict COVID-19 protocols at its mine sites to help prevent infection and reduce the potential transmission of COVID-19. In addition, operating mine sites continue to assess the resiliency of their supply chains, maintaining increased mine site inventories of key materials. The Company has also implemented travel restrictions and has temporarily closed or limited office capacity at its various administration offices including its head office in Toronto. In Turkey and the Kyrgyz Republic, the week-over-week status appears to be stabilizing, with the national daily COVID-19 case count in Turkey at approximately 25,000 (down from a high of 65,000 in recent weeks) and the national COVID-19 daily case count in the Kyrgyz Republic holding at approximately 300 cases per day. At the Öksüt mine, 17 individuals are in quarantine, primarily from the mine’s open pit mining contractor. The Turkish Government has declared a nine-day public holiday & stay-at-home period for the post Ramadan celebration in May 2021, during which blasting activities in the open pit at the Öksüt mine will be halted, resulting in a net two to three days of no mining activity. In the Prince George region of British Columbia, Canada, near the Mount Milligan mine, daily COVID-19 case counts at approximately 150, (down from a high of approximately 200 in recent weeks). As part of the roll-out of vaccinations across Northern British Columbia, COVID-19 vaccinations were made available to Mount Milligan employees in April 2021. The majority of the Molybdenum Business Unit is located in the United States have not been materially affected by COVID-19 due, in part, to a rapid COVID-19 vaccination roll-out. COVID-19 has not materially affected Centerra’s operations as employee absences due to COVID-19 and other illnesses have so far been successfully managed. The Company notes that the effects of COVID-19 on its business continue to change rapidly. The measures enacted to date reflect the Company’s best assessment at this time but will remain flexible and be revised as necessary or advisable and/or as recommended by the public health and governmental authorities. Exploration Update Exploration activities in the first quarter of 2021 included drilling, surface sampling, geological mapping and geophysical surveying at the Company’s various projects and earn-in properties, targeting gold and copper mineralization in Canada, Turkey, Finland, USA and the Kyrgyz Republic. Exploration expenditures were $9.3 million in the first quarter of 2021 compared to $7.8 million in the same quarter of 2020. The increase in exploration expenditures was due to a significantly expanded drilling program at the Kumtor mine, drilling approximately 20,000 metres in the first quarter of 2021, as well as the recommencement of drilling activities at Öksüt and Mount Milligan earlier in than the prior period. Selected drill program results and intercepts are highlighted in the supplementary data at the end of this news release. The drill collar locations and associated graphics are available at the following link: http://ml.globenewswire.com/Resource/Download/ebc019dc-6dc1-46a5-a948-2fde2391fd4f About Centerra GoldCenterra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest Western-based gold producers in Central Asia. Centerra operates three mines, the Kumtor mine in the Kyrgyz Republic, the Mount Milligan mine in British Columbia, Canada and the Öksüt mine in Turkey. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG and on the New York Stock Exchange (NYSE) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada. Conference CallCenterra invites you to join its 2021 first quarter conference call on Tuesday, May 11, 2021 at 8:30 AM Eastern Time. The call is open to all investors and the media. To join the call, please dial toll-free in North America: (800) 582-1443. International participants may access the call at: +1 (212) 231-2910. Results summary presentation slides are available on Centerra Gold’s website at www.centerragold.com. Alternatively, an audio feed webcast will be broadcast live by Intrado and can be accessed live at Centerra Gold’s website at www.centerragold.com. A recording of the call will be available on www.centerragold.com shortly after the call and via telephone until midnight Eastern Time on May 18, 2021 by calling: +1 (416) 626-4100 or 1 (800) 558-5253 and using passcode 21993267. For more information:John W. PearsonVice President, Investor RelationsCenterra Gold Inc.(416) 204-1953john.pearson@centerragold.com Additional information on Centerra Gold is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar. A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/496ad340-125b-4cfd-afdd-b55846342aab Management’s Discussion and Analysis For the Period Ended March 31, 2021 This Management Discussion and Analysis (“MD&A”) has been prepared as of May 10, 2021 and is intended to provide a review of the financial position and results of operations of Centerra Gold Inc. (“Centerra” or the “Company”) for the three months ended March 31, 2021 in comparison with the corresponding period ended March 31, 2020. This discussion should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements and the notes thereto for the three months ended March 31, 2021 prepared in accordance with International Financial Reporting Standards (“IFRS”). This MD&A should also be read in conjunction with the Company’s audited annual consolidated financial statements for the years ended December 31, 2020 and 2019, the related MD&A and the Annual Information Form for the year ended December 31, 2020 (the “2020 Annual Information Form”). The Company’s unaudited condensed consolidated interim financial statements and the notes thereto for the three months ended March 31, 2021, the 2020 Annual Report and the 2020 Annual Information Form are available at www.centerragold.com, on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and on the Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”) www.sec.gov/edgar. In addition, this discussion contains forward looking information regarding Centerra’s business and operations. Such forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. See “Caution Regarding Forward-Looking Information” in this discussion. All dollar amounts are expressed in United States dollars (“USD”), except as otherwise indicated. All references in this document denoted with NG indicate a non-GAAP term which is discussed under “Non-GAAP Measures” and reconciled to the most directly comparable GAAP measure. Caution Regarding Forward-Looking InformationInformation contained in this document which are not statements of historical facts, and the documents incorporated by reference herein, may be “forward-looking information” for the purposes of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words “believe”, “expect”, “anticipate”, “contemplate”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, “understand” and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: statements regarding 2021 Guidance, including guidance on production, cost and capital spend in 2021, and the assumptions used in preparing; the impact, if any, of the Kyrgyz State Commission, new and proposed Kyrgyz legislation which appears to provide a means of temporary or permanent nationalization of the Kumtor Mine, other Kyrgyz Republic developments to date including the tax claims and requests to re-audit initiated by Kyrgyz Republic State Tax Services, the citizens claim commenced in Kyrgyz courts claiming for damage caused by the historical practice of placing waste rock on glaciers, and criminal investigations commenced or re-opened by the Kyrgyz Republic authorities; pursuit of the Company’s claims against the Kyrgyz Republic in international arbitration; planned exploration in 2021; possible impacts to its operations relating to COVID-19; the Company’s expectations regarding having sufficient liquidity for 2021; the Company’s expectation regarding having sufficient water at the Mount Milligan mine in the medium term, and its plans for a long term solution; expectations regarding the receipt of a forestry permit for the Öksüt mine and plans to access the Güneytepe deposit in 2022; and expectations regarding litigation involving the Company. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant technical, political, 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 information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: (A) strategic, legal, planning and other risks, including: political risks associated with the Company’s operations in the Kyrgyz Republic, Turkey and Canada; the failure of the Kyrgyz Republic Government to comply with its continuing obligations under the Strategic Agreement, including the requirement that it comply at all times with its obligations under the Kumtor Project Agreements, allow for the continued operation of the Kumtor mine by KGC and KOC and not take any expropriation action against the Kumtor mine including through imposition of external management appointed by the Kyrgyz Republic Government; actions by the Kyrgyz Republic Government or any state agency or the General Prosecutor's Office that serve to restrict or otherwise interfere with the payment of funds by KGC and KOC to Centerra; resource nationalism including the management of external stakeholder expectations; the impact of changes in, or to the more aggressive enforcement of, laws, regulations and government practices, including unjustified civil or criminal action against the Company, its affiliates or its current or former employees, including the interaction of claims of harm to the environment or human health with a new Kyrgyz Republic law that could enable imposition of external management on the Kumtor Mine by the Kyrgyz Republic Government; risks that community activism may result in increased contributory demands or business interruptions; the risks related to outstanding litigation affecting the Company, including the potential failure to negotiate a mutually acceptable outcome of disputes relating to the Kumtor Mine; risks that an arbitrator will reject the Company’s claims against the Kyrgyz Republic or that such claims may not be practically enforceable against the Kyrgyz Republic; the impact of the delay by relevant government agencies to provide required approvals, expertise and permits; potential impact on the Kumtor mine of investigations by Kyrgyz Republic instrumentalities; the impact of constitutional changes in the Kyrgyz Republic and/or Turkey; the impact of any sanctions imposed by Canada, the United States or other jurisdictions against various Russian and Turkish individuals and entities; potential defects of title in the Company’s properties that are not known as of the date hereof; the inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances; the presence of a significant shareholder that is a state-owned company of the Kyrgyz Republic; risks related to anti-corruption legislation; risks related to the concentration of assets in Central Asia; Centerra not being able to replace mineral reserves; Indigenous claims and consultative issues relating to the Company’s properties which are in proximity to Indigenous communities; and potential risks related to kidnapping or acts of terrorism; (B) risks relating to financial matters, including: sensitivity of the Company’s business to the volatility of gold, copper and other mineral prices, the use of provisionally-priced sales contracts for production at the Mount Milligan mine, reliance on a few key customers for the gold-copper concentrate at the Mount Milligan mine, use of commodity derivatives, the imprecision of the Company’s mineral reserves and resources estimates and the assumptions they rely on, the accuracy of the Company’s production and cost estimates, the impact of restrictive covenants in the Company’s credit facilities which may, among other things, restrict the Company from pursuing certain business activities or making distributions from its subsidiaries, the Company’s ability to obtain future financing, the impact of global financial conditions, the impact of currency fluctuations, the effect of market conditions on the Company’s short-term investments, the Company’s ability to make payments including any payments of principal and interest on the Company’s debt facilities depends on the cash flow of its subsidiaries; and (C) risks related to operational matters and geotechnical issues and the Company’s continued ability to successfully manage such matters, including the stability of the pit walls at our operations, the movement of the Davidov Glacier, waste and ice movement and continued performance of the buttress at the Kumtor mine; the occurrence of further ground movements at the Kumtor mine and mechanical availability; the risk of having sufficient water to continue operations at the Mount Milligan mine and achieve expected mill throughput; the success of the Company’s future exploration and development activities, including the financial and political risks inherent in carrying out exploration activities; inherent risks associated with the use of sodium cyanide in the mining operations; the adequacy of the Company’s insurance to mitigate operational risks; mechanical breakdowns; the Company’s ability to replace its mineral reserves; the occurrence of any labour unrest or disturbance and the ability of the Company to successfully re-negotiate collective agreements when required; the risk that Centerra’s workforce and operations may be exposed to widespread epidemic including, but not limited to, the COVID-19 pandemic; seismic activity in the vicinity of the Company’s properties; long lead times required for equipment and supplies given the remote location of some of the Company’s operating properties; reliance on a limited number of suppliers for certain consumables, equipment and components; the ability of the Company to address physical and transition risks from climate change and sufficiently manage stakeholder expectations on climate-related issues; the Company’s ability to accurately predict decommissioning and reclamation costs; the Company’s ability to attract and retain qualified personnel; competition for mineral acquisition opportunities; risks associated with the conduct of joint ventures/partnerships; and the Company’s ability to manage its projects effectively and to mitigate the potential lack of availability of contractors, budget and timing overruns and project resources. For additional risk factors, please see section titled “Risks Factors” in the Company’s most recently filed Annual Information Form available on SEDAR at www.sedar.com and EDGAR www.sec.gov/edgar. There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward looking information. Forward-looking information is as of May 10, 2021. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law. TABLE OF CONTENTS Overview11Consolidated Financial and Operational Highlights12Overview of Consolidated Results13Outlook14Financial Performance18Balance Sheet Review19Market Conditions20Financial Instruments22Operating Mines and Facilities23Pre-Development Projects32Quarterly Results – Previous Eight Quarters33Related party transactions34Contingencies34Accounting Estimates, Policies and Changes38Disclosure Controls and Procedures and Internal Control Over Financial Reporting39Non-GAAP Measures39Qualified Person & QA/QC – Non-Exploration (including Production information)45 Overview Centerra is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties worldwide and is one of the largest Western-based gold producers in Central Asia. Centerra’s principal operations are the Kumtor Gold mine located in the Kyrgyz Republic, the Mount Milligan Gold-Copper mine located in British Columbia, Canada, and the Öksüt Gold mine located in Turkey. The Company has one property in Canada in the pre-development stage, the Kemess Underground Gold Property. The Company sold its interest in the Greenstone Gold Mines Partnership, which included its interest in the Hardrock deposit, effective January 19, 2021. The Company owns exploration properties in Canada, the United States of America and Turkey and has options to acquire exploration joint venture properties in Canada, Finland, Turkey, and the United States of America. The Company owns various assets within its Molybdenum Business Unit, particularly the Langeloth metallurgical processing facility in Pennsylvania, United States of America and two primary molybdenum mines currently on care and maintenance, the Thompson Creek Mine in Idaho, United States of America, and the Endako Mine (75% ownership) in British Columbia, Canada. As of March 31, 2021, Centerra’s significant subsidiaries are as follows: CurrentPropertyEntityProperty - LocationStatusOwnershipKumtor Gold Company (“KGC”)Kumtor Mine - Kyrgyz RepublicOperation100% Thompson Creek Metals Company Inc.Mount Milligan Mine - CanadaOperation100% Öksüt Madencilik A.S. (“OMAS”)Öksüt Mine - TurkeyOperation100% Langeloth Metallurgical Company LLCLangeloth - United StatesOperation100% AuRico Metals Inc.Kemess Underground Project - CanadaPre-development100% Thompson Creek Mining Co.Thompson Creek Mine - United StatesCare and Maintenance100% Thompson Creek Metals Company Inc.Endako Mine - CanadaCare and Maintenance75% The Company’s common shares are listed on the Toronto Stock Exchange and trade under the symbol CG and, effective April 15, 2021, on the New York Stock Exchange and trade under the symbol CGAU. As of May 10, 2021, there are 296,696,357 common shares issued and outstanding, options to acquire 3,551,054 common shares outstanding under its stock option plan and 1,034,191 units outstanding under its restricted share unit plan (exercisable on a 1:1 basis for common shares). The Company reports the results of its operations in U.S. dollars, however not all of its costs are incurred in U.S. dollars. As such, the movement in exchange rates between the currencies in which the Company incurs costs and the U.S. dollar impacts the reported costs of the Company. Consolidated Financial and Operational Highlights Unaudited ($ millions, except as noted)Three months ended March 31Financial Highlights 2021 2020% ChangeRevenue$401.9$378.86%Production costs 169.7 169.40%Standby costs - 6.8(100%)Depreciation, depletion, and amortization 72.9 73.0(0%)Earnings from mine operations$159.3$129.623%Net earnings$167.4$20.0737%Adjusted net earnings(1)$84.2$46.481%Cash provided by operations 153.1 121.126%Cash provided by operations before changes in working capital 183.4 143.328%Free cash flow(1) 72.1 77.0(6%)Sustaining capital expenditures(2) 20.8 14.544%Non-sustaining capital expenditures(2)(3) 22.2 13.466%Capitalized stripping(2) 41.7 40.04%Total assets 3,327.7 2,792.919%Long-term debt and lease obligations 13.7 150.6(91%)Cash, and cash equivalents 823.2 193.9325%Per Share Data Earnings per common share - $/share basic (4)$0.57$0.07714%Adjusted net earnings per common share - $/share basic (1)(4)$0.28$0.1675%Per Ounce Data (except as noted) Average gold spot price ($/oz)(5) 1,797 1,58214%Average realized gold price ($/oz )(1)(6) 1,627 1,4879%Average copper spot price ($/lb)(5) 3.86 2.5750%Average realized copper price ($/lb )(1)(6) 2.72 1.6169%Operating Highlights Gold produced (oz) 160,346 190,474(16%)Gold sold (oz) 180,519 203,258(11%)Copper produced (000's lb) 18,609 20,072(7%)Copper sold (000's lb) 22,783 20,42312%Unit Costs Gold production costs ($/oz)$561$43728%All-in sustaining costs on a by-product basis ($/oz)(1)(6)$745$7184%All-in costs on a by-product basis ($ /oz)(1)(6)$1,073$1,0245%Gold - All-in sustaining costs on a co-product basis($/oz)(1)$876$67630%Copper production costs ($/lb)$1.42$1.374%Copper - All-in sustaining costs on a co-product basis – ($/lb)(1)$1.68$1.5211% (1)Non-GAAP measure. See discussion under “Non-GAAP Measures”.(2)Capital expenditures are presented as spent and accrued. Capitalized stripping includes non-cash of $6.8 million in the first quarter of 2021 (2020: $10 million).(3)Non-sustaining capital expenditures are distinct projects designed to have a significant increase in the net present value of the mine. In the current year, non-sustaining capital expenditures included costs related to the mine expansion at Kumtor and construction costs at the Öksüt mine.(4)At March 31 2021, the Company had 296,511,550 common shares issued and outstanding. (5)Average for the period as reported by the London Bullion Market Association (US dollar Gold P.M. Fix Rate) and London Metal Exchange (LME).(6)Includes the impact of reduced metal prices resulting from the Mount Milligan Streaming Arrangement, and the impact of copper hedges. Overview of Consolidated Results First Quarter 2021 compared to First Quarter 2020Net earnings of $167.4 million were recognized in the first quarter of 2021, compared to net earnings of $20 million in the first quarter of 2020. The increase in net earnings was due to the increase in ounces of gold sold at the Öksüt and Mount Milligan mines, a 9% higher average realized gold price, and a 69% higher average realized copper price, compared to the same prior year period, as well as a gain of $72.3 million in the current quarter, on the sale of Centerra’s 50% interest in the Greenstone Gold Mines Partnership, partially offset by less gold ounces sold at the Kumtor mine. Adjusted net earningsNG in the first quarter of 2021 was $84.2 million after adjusting for the $72.3 million gain on the sale of Centerra’s 50% interest in the Greenstone Gold Mines Partnership and the $10.9 million gain resulting from the reduction in the reclamation liability due to favourable discount rate movements. Adjusted net earningsNG in the first quarter of 2020 was $46.4 million, after adjusting for the $26.4 million charge resulting from the increase in the reclamation liability due to unfavourable discount rate movements. Cash provided by operations was $153.1 million in the first quarter of 2021, compared to $121.1 million in the first quarter of 2020. The increase in cash provided by operations was due to increased earnings from mine operations at the Öksüt mine which recorded a full quarter of operations and the Mount Milligan mine which recognized its highest quarterly cash from mine operations since it commenced production. The comparative first quarter of 2020 included the receipt of a tax refund of $11.4 million collected at the molybdenum business unit. Free cash flowNG of $72.1 million was recognized in the first quarter of 2021, compared to $77 million in the first quarter of 2020. The decrease in free cash flowNG was due to higher capital expenditures including the purchase of haul trucks for the life of mine extension at the Kumtor mine and major planned equipment rebuilds at the Mount Milligan mine, partially offset by higher cash provided by operations. Safety and EnvironmentDuring the first quarter of 2021, the Kumtor mine achieved one-year lost time injury free, and the Endako mine achieved six years reportable injury free. In addition, Centerra experienced zero reportable injuries and zero significant incidents Company-wide in the month of March 2021. There were four reportable injuries company-wide in the first quarter of 2021, including one lost time injury, two medical aid injuries and one restricted work injury. Centerra has implemented a number of proactive measures to prevent infection and reduce the spread of COVID-19 for the health and safety of its employees, contractors, communities and other stakeholders. There were no reportable incidents to the environment in the first quarter of 2021. Outlook The Company notes that there is a great deal of uncertainty regarding future production and operations at the Kumtor Mine due to recent legislative changes in the Kyrgyz Republic, public rhetoric regarding nationalization, and tax and legal claims and investigations relating to the Kumtor Mine. Accordingly, the following 2021 guidance and previously disclosed 3-year outlook should be viewed with caution and may be materially different as a result of the foregoing and similar matters. For further information, please refer to “Caution Regarding Forward-Looking Information” and “Contingencies”. 2021 Production GuidanceCenterra’s 2021 consolidated gold production guidance remains unchanged and is expected to be between 740,000 to 820,000 ounces. Production from the Kumtor, Mount Milligan and Öksüt mines is expected to be weighted to the second half of the year, representing up to 60% of 2021 annual gold production. Öksüt’s second quarter production volumes are expected to represent 15% of its 2021 annual gold production due to the sequencing of lower-grade ore onto the leach pad, with meaningfully higher-grade ore stacking expected in the second half of the year. Centerra’s 2021 production forecast is unchanged from previous guidance and is as follows: UnitsKumtorMount Milligan(1)Öksüt Centerra ConsolidatedGold Unstreamed Gold Production(Kozs)470-510117-13090-110677-750Streamed Gold Production(1)(Kozs)-63-70-63-70Total Gold Production(2)(Kozs)470-510180-20090-110740-820 Copper Unstreamed Copper Production(Mlb)-57-65-57-65Streamed Copper Production(1)(Mlb)-13-15-13-15Total Copper Production(3)(Mlb)-70-80-70-80 (1)The Mount Milligan Streaming Arrangement entitles Royal Gold to 35% and 18.75% of gold and copper sales, respectively, from the Mount Milligan mine. Under the Mount Milligan Streaming Arrangement, Royal Gold will pay $435 per ounce of gold delivered and 15% of the spot price per metric tonne of copper delivered. (2)Gold production assumes recoveries of 81.9% at Kumtor, 63.9% at Mount Milligan and approximately 75% at Öksüt.(3)Copper production assumes 78.8% recovery for copper at Mount Milligan. 2021 Sales, All-in Sustaining and All-in Unit Costs GuidanceNGCenterra’s 2021 sales and cost metrics are unchanged from the previous guidance and are as follows: UnitsKumtorMount MilliganÖksütCenterra Consolidated(2)Ounces of gold sold(Kozs)470 - 510180 - 20090 - 110740 - 820Gold production costs($/oz)400 - 450650 -700500 - 550475 - 525All-in sustaining costs on a by-product basis(1)($/oz)950 - 1,000530 - 580730 - 780850 - 900Revenue-based taxes($/oz)250 - 255--160 - 165All-in sustaining costs on a by-product basis, including revenue-based taxes (1), (2), (3)($/oz)1,200 - 1,255530 - 580730 - 7801,010 - 1,065All-in costs on a by-product basis(1),(2),(3)($/oz)1,365 - 1,420590 - 640790 - 8401,175 - 1,230Gold - All-in sustaining costs on a co-product basis(1),(2)($/oz)950 - 1,000910 - 1,025730 - 780950 - 1,055Copper production costs($/lb)-1.30-1.45-1.30-1.45Copper - All-in sustaining costs on a co-product basis (1),(2)($/lb)-1.75-1.95-1.75-1.95 (1)All-in sustaining costs and all-in costs on a by-product and co-product basis are non-GAAP measures and are discussed under “Non-GAAP Measures”. Gold production cost per ounce is different from the all-in sustaining costs on a by-product basis measure and is considered the nearest GAAP measure.(2)Mount Milligan production and ounces sold are on a 100% basis (the Mount Milligan Streaming Arrangement entitles Royal Gold to 35% and 18.75% of gold and copper sales, respectively). Unit costs and consolidated unit costs include a credit for forecasted copper sales treated as by-product for all-in sustaining costs and all-in sustaining costs including revenue-based taxes. Production for copper and gold reflects estimated metallurgical losses resulting from handling of the concentrate and metal deductions, subject to metal content, levied by smelters.(3)Includes revenue-based taxes at Kumtor. 2021 TaxesIn April 2021, the Government of Turkey enacted a corporate tax rate increase from 20% to 25% for 2021. As a result of the tax benefits available under the Company’s Investment Incentive Certificate, income tax in 2021 for the Öksüt mine is expected to be unchanged from previous guidance of between $1 to $2 million. 2021 SensitivitiesCenterra’s revenues, earnings, and cash flows for 2021 are sensitive to changes in certain key inputs or currencies. The Company has estimated the impact of any such changes on revenues, net earnings, and cash flows for the remaining nine months of 2021 as follows: Impact on ($ millions)Impact on ($ per ounce sold) Production Costs & TaxesCapital CostsRevenuesCash flowsNet Earnings (after tax)AISC(2)(3) on by-product basisGold price$50/oz3.5 - 4.0-26.0 - 29.522.5 - 25.522.5 - 25.51.5 - 2.0Copper price(4)10%0.1 - 0.2-1.5 - 4.51.4 – 4.31.4 – 4.36.5 - 7.5Diesel fuel(3)10%4.5- 5.09.0 - 11.0-13.5 - 16.04.5 - 5.025.0 - 28.5Kyrgyz som(1)1 som0.5 - 1.0--0.5 - 1.00.5 - 1.01.5 - 2.0Canadian dollar(1)(3)10 cents8.0 – 9.51.5 - 2.0-9.5 – 11.58.0 – 9.518.0 – 20.5Turkish lira(1)1 lira2.5 - 3.00.5 - 1.0-3.0 - 4.02.5 - 3.06.5 - 7.0  (1)Appreciation of currency against the U.S. dollar will result in higher costs and lower cash flow and earnings, depreciation of currency against the U.S. dollar results in decreased costs and increased cash flow and earnings.(2)Non-GAAP measure. See discussion under “Non-GAAP Measures”.(3)Includes the effect of hedging programs.(4)2021 copper sales are hedged up to 95%. Production, cost and capital forecasts for 2021 are forward-looking information and are based on key assumptions and subject to material risk factors that could cause actual results to differ materially, and which are discussed herein under the headings “2021 Material Assumptions” and “Caution Regarding Forward-Looking Information” in this document and under the heading “Risks That Can Affect Our Business” in this document and the Company’s most recently filed Annual Information Form. The Company notes that there is a great deal of uncertainty regarding future production and operations at the Kumtor Mine due to recent legislative changes in the Kyrgyz Republic relating to the Kumtor Mine. Accordingly, the 2021 guidance and previously disclosed 3-year outlook should be viewed with caution. The recent legislative changes are discussed herein under the heading “Contingencies”. 2021 Material AssumptionsMaterial assumptions or factors used to forecast production and costs for 2021, after giving effect to the hedges in place at December 31, 2020, are unchanged and include the following: a market gold price of $1,750 per ounce and an average realized gold price at Mount Milligan of $1,290 per ounce after reflecting the Mount Milligan Streaming Arrangement (35% of Mount Milligan’s gold at $435 per ounce).a market copper price of $3.36 per pound and an average realized copper price at Mount Milligan of $2.82 per pound after reflecting the Mount Milligan’s Streaming Arrangement (18.75% of Mount Milligan’s copper at 15% of the spot price per metric tonne).a molybdenum price of $9 per pound.exchange rates: $1USD:$1.31 Canadian dollar,$1USD:80 Kyrgyz som,$1USD:7.50 Turkish lira. diesel fuel price assumption: $0.44/litre at Kumtor,$0.69/litre (CAD$0.90/litre) at Mount Milligan. Kumtor FuelThe assumed diesel price of $0.44/litre at the Kumtor mine assumes that no Russian export duty will be paid on the fuel exports from Russia to the Kyrgyz Republic. Diesel fuel for the Kumtor mine is sourced from separate Russian suppliers. The diesel fuel price assumes a price of oil of approximately $53 per barrel. Crude oil is a component of diesel fuel purchased by the Company, such that changes in the price of Brent crude oil generally impacts diesel fuel prices. Mount Milligan Streaming ArrangementThe Mount Milligan mine is an open pit mine located in north central British Columbia, Canada producing a gold and copper concentrate. Production at the Mount Milligan mine is subject to an arrangement with RGLD Gold AG and Royal Gold, Inc. (together, “Royal Gold”) pursuant to which Royal Gold is entitled to purchase 35% of the gold produced and 18.75% of the copper production at the Mount Milligan mine for $435 per ounce of gold delivered and 15% of the spot price per metric tonne of copper delivered (the “Mount Milligan Streaming Arrangement”). To satisfy its obligations under the Mount Milligan Streaming Arrangement the Company purchases refined gold and copper warrants and arranges for delivery to Royal Gold. The difference between the cost of the purchases of refined gold and copper warrants, and the corresponding amounts payable to the Company under the Mount Milligan Streaming Arrangement is recorded as a reduction of revenue and not a cost of operating the mine. Other Material AssumptionsOther material assumptions used in forecasting production and costs for 2021 can be found under the heading “Caution Regarding Forward-Looking Information” in this document. Financial Performance First Quarter 2021 compared to First Quarter 2020 Revenue of $401.9 million was recognized in the first quarter of 2021 compared to $378.8 million in the first quarter of 2020. The increase in revenue was due to 27,584 gold ounces sold at the Öksüt mine, which commenced commercial production on May 31, 2020, higher average realized gold and copper prices and increased gold ounces sold at the Mount Milligan mine, partially offset by fewer gold ounces sold at the Kumtor mine. Total gold production was 160,346 ounces in the first quarter of 2021 compared to 190,474 ounces in the first quarter of 2020. Gold production in the first quarter of 2021 included 90,169 ounces at the Kumtor mine, 41% less ounces than the comparable prior year period, due to the anticipated lower grades and recoveries. The Mount Milligan mine produced 42,576 ounces of gold in the first quarter of 2021, 26% more ounces than the first quarter of 2020, due to higher gold grades and recoveries. The Öksüt mine, which was not in commercial production in the first quarter of 2020, produced 27,601 ounces of gold in the first quarter of 2021. Copper production at the Mount Milligan mine was 18.6 million pounds in the first quarter of 2021 compared to 20.1 million pounds in the first quarter of 2020. The decrease in copper production was due to lower copper grades, which were partially offset by higher copper recoveries. Gold production costs were $561 per ounce in the first quarter of 2021 compared to $437 per ounce in the first quarter of 2020. The increase was primarily due to lower ounces of gold sold at the Kumtor mine, compared to the same prior year period. Copper production costs were $1.42 per pound in the first quarter of 2021 compared to $1.37 per pound in the first quarter of 2020. The increase in copper pounds sold in the first quarter of 2021, was offset by a higher allocation of production costs to copper as a result of the relative strength of the copper price compared to the gold price. All-in sustaining costs on a by-product basisNG were $745 per ounce in the first quarter of 2021 compared to $718 per ounce in the first quarter of 2020. The increase was due to lower ounces sold, increased sustaining capital at the Mount Milligan mine and greater capitalized stripping at the Kumtor mine, partially offset by increased copper credits due to a 69% increase in the average realized price of copper. All-in costs on a by-product basisNG were $1,073 per ounce in the first quarter of 2021 compared to $1,024 per ounce in the first quarter of 2020. The increase was due to higher all-in sustaining costs on a by-product basisNG, explained above, and the planned purchase of haul trucks for the life of mine extension at the Kumtor mine, partially offset by lower revenue-based taxes paid by Kumtor. The Langeloth Facility roasted 2.7 million pounds of molybdenum in the first quarter of 2021 compared to 4.4 million pounds in the first quarter of 2020. This decrease was the result of a decline in demand for industrial products that use molybdenum. Exploration expenditures of $9.3 million were recognized in the first quarter of 2021 compared to $7.8 million in the first quarter of 2020. The increase in exploration expenditures was due to a significantly expanded drilling program at the Kumtor mine, drilling approximately 20,000 metres in the first quarter of 2021, as well as the recommencement of drilling activities at Öksüt and Mount Milligan earlier in than the prior period. Financing costs of $1.8 million were recognized in the first quarter of 2021 compared to $3.6 million in the first quarter of 2020. The decrease was due to the corporate revolving credit facility remaining undrawn during the first quarter of 2021. Corporate administration costs of $4.9 million were recognized in the first quarter of 2021 compared to $3.4 million in the first quarter of 2020. The increase was primarily due to an increase in advisory and legal fees. A gain on sale of $72.3 million (excluding contingent consideration) was recognized in the first quarter of 2021 on the disposal of the Company’s 50% interest in the Greenstone Gold Mines Partnership. Balance Sheet Review $ millionsAs at Consolidated:March 31, 2021December 31, 2020%Change Cash823.2545.251% Accounts receivable106.466.161% Inventories542.0580.6(7%) Assets held for sale(1)-140.0(100%) Other current assets44.240.98% Property, plant and equipment1,724.21,686.12% Other non-current assets88.177.114% Total Assets3,328.13,136.06% Current liabilities295.2256.715% Provision for reclamation338.8352.2(4%) Other non-current liabilities70.161.115% Total Liabilities704.1670.05% Total Equity2,624.02,466.06% Total Liabilities and Equity3,328.13,136.06% (1) Centerra’s 50% interest in the Greenstone Gold Mine Partnership Cash at March 31, 2021 was $823.2 million compared to $545.2 million at December 31, 2020. The increase was due to the receipt of $210 million as consideration for the disposal of the Company’s 50% interest in the Greenstone Gold Mines Partnership and free cash flowNG of $72.1 million generated in the first quarter of 2021. Accounts receivable at March 31, 2021 was $106.4 million compared to $66.1 million at December 31, 2020. The increase is due to a shipment of gold from the Kumtor mine in late March 2021, for which the funds were collected in April 2021. Total inventories at March 31, 2021 were $542.0 million compared to $580.6 million at December 31, 2020. Total inventory includes stockpiles of ore, gold in-circuit, gold doré, copper and gold concentrate and molybdenum inventory (collectively “Product Inventory”) of $323.6 million and supplies inventory of $218.4 million, compared to $373.1 million and $207.5 million, respectively, at December 31, 2020. The decrease in Product Inventory was primarily due to the Kumtor mine processing from stockpiles during a major stripping period in 2021. At March 31, 2021, the Product Inventory balance consisted of 429,172 contained gold ounces on surface in stockpiles at Kumtor (9.9 million tonnes of ore with a grade of 1.337 g/t gold), of which roughly 51% is expected to be processed in 2021, 87,051 contained gold ounces and 20.3 million contained pounds of copper in surface stockpiles at Mount Milligan (6.5 million tonnes of ore at a grade of 0.42 g/t gold and 0.14% copper), of which roughly 15% is expected to be processed in 2021 and at the Öksüt mine 3,083 contained gold ounces in solution at the absorption, desorption and recovery (ADR) plant and 644 contained gold ounces on surface and stacked (0.1 million tonnes of ore at a grade of 0.13 g/t gold in surface stockpiles and 1.32 g/t gold stacked on the heap leach pad), which is expected to be processed in 2021. The book value of property, plant and equipment at March 31, 2021 was $1.72 billion compared to $1.69 billion at December 31, 2020. The increase was due to higher capitalized stripping and the purchase of haul trucks at the Kumtor mine. The provision for reclamation at March 31, 2021 was $338.8 million compared to $352.2 million at December 31, 2020. An increase in the risk-free interest rate used to calculate the present value of reclamation costs at the Company’s North American sites was the primary reason for the reduction in the obligation. In 1998, a reclamation trust fund was established to cover the future costs of reclamation at the Kumtor mine. At March 31, 2021, this fund had a balance of $53 million and is shown as long-term asset on the balance sheet. The Company’s total liquidity position is $1,223.2 million, representing a cash balance of $823.2 million and $400 million available under the Corporate Credit Facility. The strong liquidity position and forecasted robust free cash flows from the Company’s Kumtor, Mount Milligan and Öksüt operations are expected to be sufficient to satisfy working capital needs, fund the Company’s activities and meet other liquidity requirements through the end of 2021. See “Caution Regarding Forward-Looking Information”. Market Conditions Commodity pricesThe Company’s profitability is materially affected by the market price of metals. Metal prices fluctuate widely and are affected by numerous factors beyond the Company's control. MetalAverage spot pricePeriod end spot priceThree months ended March 31% ChangeMarch 31,December 31,% Change2021202020212020Gold (per oz)$1,797$1,58214%$1,708$1,898(10%)Copper (per lb) 3.86 2.5750% 4.00 3.5214%Molybdenum (per lb) 11.29 9.6417% 11.05 10.0310% Foreign ExchangeThe Company has operations in Canada, including its corporate head office, the Kyrgyz Republic, Turkey and the United States. The Company receives its revenue through the sale of gold, copper and molybdenum in U.S. dollars. A significant cost driver of Centerra is the performance of key currencies relative to the U.S. dollar. The performance of these currencies over a 24-month period and at key reporting dates was as follows: A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d78dc40-e9a0-4bc7-a8d2-12021d7ef3e6 CurrencyAverage exchange ratePeriod end exchange rateThree months ended March 31% ChangeMarch 31,December 31,% Change2021202020212020USD-CAD$1.27$1.34(5%)$1.26$1.27(1%)USD-Kyrgyz Som 84.2 71.218% 84.8 84.01%USD-Turkish Lira 7.4 6.121% 8.3 7.412% The Company utilizes its foreign exchange hedging program in order to manage its exposure to adverse fluctuations in the Canadian dollar, relative to the U.S. dollar, see “Financial Instruments”. The Company does not currently hedge the Kyrgyz som or the Turkish lira. Diesel Fuel PricesFuel costs represent a significant cost component for Centerra’s mining operations, representing 10% of production costs in the first quarter of 2021. Prices for each mine site’s fuel costs are dependent on regional fuel prices along with the associated transportation costs, seasonal premiums for winterizing fuel and any additional costs to meet regulatory requirements. The Company hedges its fuel exposures covering a portion of Kumtor and Mount Milligan’s production needs, utilizing regression analysis for fuel costs that closely track established market indices. CommodityAverage spot pricePeriod end spot priceThree months ended March 31% ChangeMarch 31,December 31,% Change2021202020212020Kumtor Diesel (per ltr)$0.44$0.3913%$0.48$0.4117%ULSD (per bbl) 73.13 64.7613% 74.39 62.0020%Brent (per bbl) 61.17 50.8220% 63.54 51.8023% The Company utilizes its diesel hedging program in order to manage its exposure to adverse fluctuations in diesel fuel prices, see “Financial Instruments”. Financial Instruments The Company seeks to manage its exposure to fluctuations in diesel fuel prices, commodity prices and foreign exchange rates by entering into derivative financial instruments from time-to-time. The hedge positions for each of these programs as at March 31, 2021 are summarized as follows: Average Strike Price Settlements (% of exposure hedged) As at March 31, 2021InstrumentUnitType 2021 2022 2023202120222023Total position (2)Fair value($'000's) FX Hedges USD/CAD zero-cost collarsCADFixed$1.33/$1.40$1.32/$1.38N/A$166.8 M (37%)$149.0 M (28%)N/A$315.8 M13,874USD/CAD forward contractsCADFixed $1.35 $1.30 $1.27$101.0 M (23%)$60.0 M (11%)$40.0 M (31%)$201.0 M7,309Total $1.34 $1.31 $1.27$267.8 M (60%)$209.0 M (39%)$40.0 M (31%)$516.8 M21,183 Fuel Hedges Brent Crude Oil zero-cost collarsBarrelsFixed$41/$47$44/$51$50/$6259,474 (9%)96,966 (10%)22,000 (9%)178,4401,876Brent Crude Oil swap contractsBarrelsFixed $44 $51 $56162,322 (26%)89,850 (9%)11,000 (4%)263,1723,592ULSD zero-cost collarsBarrelsFixed$53/$59$58/$64$71/$7758,124 (9%)125,066 (12%)22,000 (9%)205,1902,550ULSD swap contractsBarrelsFixed $58 $64 $73160,492 (25%)121,850 (12%)22,000 (9%)304,3424,236Total 440,412 (69%)433,732 (43%)77,000 (31%)951,14412,254 Copper Hedges (Strategic hedges)(1): Copper forward contractsPoundsFixed $3.38N/AN/A41.8 M (90%)N/AN/A 41.8 M(25,704)Copper zero-cost collarsPoundsFixedN/A$3.48/$4.71N/AN/A27.0 M (37%)N/A 27.0 M1,627 Gold/Copper Hedges (Royal Gold deliverables): Gold forward contractsOuncesFloatN/AN/AN/A23,963N/AN/A23,963(2,149)Copper forward contractsPoundsFloatN/AN/AN/A3.3 MN/AN/A3.3 M690 (1)The copper hedge ratio is based on the forecasted copper sales production, net of the streaming arrangement with Royal Gold.(2)Royal Gold hedging program with a market price determined on closing of the contract. The realized gains (losses) recorded in the first quarters of 2021 and 2020 were as follows: Hedge programRealized gain(loss) (thousands)Three months ended March 31% Change2021 2020 FX Hedges$3,680 $(1,259)392%Fuel hedges 2,926 (1,124)360%Copper Hedges (Strategic hedges) (9,025) N/A N/A As at March 31, 2021, Centerra has not entered into any off-balance sheet arrangements with special purpose entities, nor does it have any unconsolidated affiliates. Operating Mines and Facilities Kumtor MineThe Kumtor open pit mine, located in the Kyrgyz Republic, is one of the largest gold mines in Central Asia. It has been in production since 1997 and has produced over 13.3 million ounces of gold to March 31, 2021. Kumtor Operating Results Unaudited ($ millions, except as noted)Three months ended March 31,Financial Highlights: 2021 2020 % ChangeRevenue$175.7 $250.8 (30%)Production costs 48.4 53.4 (9%)Depreciation, depletion and amortization 38.5 53.6 (28%)Standby costs - 6.8 (100%)Earnings from mine operations$88.8 $137.0 (35%)Revenue-based taxes 24.6 35.1 (30%)Exploration and development costs 5.9 4.7 26%Other operating expenses 2.2 11.4 (81%)Earnings from operations$56.1 $85.8 (35%)Cash provided by mine operations 66.7 134.3 (50%)Cash provided by mine operations before changes in working capital 94.5 142.6 (34%)Free cash flow from mine operations (1) 4.0 95.6 (96%)Operating Highlights: Tonnes mined (000's) 49,210 19,997 146%Tonnes ore mined (000's) 885 571 55%Average mining grade (g/t) 2.06 7.86 (74%)Tonnes processed (000's) 1,595 1,602 (0%)Process plant head grade (g/t) 2.41 3.53 (32%)Recovery (%)(2) 71.3% 83.7%(15%)Mining costs ($/t mined material) 1.00 1.77 (44%)Processing costs ($/t processed material) 10.17 10.89 (7%)Gold produced (oz) 90,169 152,307 (41%)Gold sold (oz) 98,437 160,090 (39%)Average realized gold price ($/oz)(1) 1,763 1,555 13%Sustaining capital expenditures(3) 7.7 8.4 (9%)Non-sustaining capital expenditures(3)(4) 21.6 0.7 2986%Capitalized stripping(3) 30.5 30.0 2%Capitalized stripping - non-cash 6.8 10.0 (32%)Capital expenditures - total 66.6 49.1 36%Unit Costs: Gold production costs ($/oz)$492 $334 47%All-in sustaining costs on a by-product basis ($/oz)(1)$888 $648 37%All-in costs on a by-product basis ($ /oz)(1)$1,417 $902 57% (1)Non-GAAP measure. See discussion under “Non-GAAP Measures”.(2) Metallurgical recoveries are based on recovered gold, not produced gold.(3) Capital expenditures are presented as spent and accrued. (4) Non-sustaining capital expenditures are distinct projects designed to have a significant increase in the net present value of the mine. In the current year, non-sustaining capital expenditures included costs related to the expansion of the mine. First Quarter 2021 compared to First Quarter 2020Earnings from mine operations of $88.8 million were recognized in the first quarter of 2021 compared to earnings from mine operations of $137 million in the first quarter of 2020. The decrease was primarily due to 39% fewer gold ounces sold, primarily due to lower average process plant head grades and lower gold recoveries as the Kumtor mine continues to process ore from on-surface stockpiles, partially offset by 13% higher average realized gold prices, lower production, depreciation and revenue-based tax costs. A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b59d1c93-963e-4ef0-b281-be9b1bdd7619 Cash provided by mine operations of $66.7 million was recognized in the first quarter of 2021 compared to $134.3 million in the first quarter of 2020. The decrease was primarily due to the lower earnings from mine operations mainly due to lower production, and lower cash from working capital as a result of inventory movements. In the first quarter of 2021, 55% more ore tonnes were mined which resulted in higher mining costs charged to stockpile inventory as compared to the comparative quarter. Free cash flow from mine operationsNG of $4 million was recognized in the first quarter of 2021 compared to $95.6 million in the first quarter of 2020. The decrease was due to lower cash provided by mine operations and an increase in capital expenditure related to the purchase of additional haul trucks required for the life of mine extension. In the first quarter of 2021, Kumtor received seven of the eight haul trucks that it planned to purchase in 2021. During the first quarter of 2021, the Kumtor mine continued mining in cut-back 20. Tonnes mined were 49.2 million in the first quarter of 2021 compared to 20 million tonnes in the first quarter of 2020. The increase was due to the suspension of mining operations in January 2020 due to the Lysii waste rock dump incident. Of the 49.2 million tonnes mined in the first quarter of 2021, 30.3 million were capitalized as waste stripping for the benefit of future gold production from cut-back 20. Mining costs were $1.00 per tonne in the first quarter of 2021 compared to $1.77 per tonne in the first quarter of 2020. The decrease was primarily due to more tonnes mined and shorter haulage distances in 2021, partially offset by higher maintenance costs. Total mining costs were $49.1 million of which $30.5 million was capitalized in the first quarter of 2021, compared to $35.4 million in mining costs of which $30 million was capitalized in the first quarter of 2020. Gold production was 90,169 ounces from on-surface stockpiled ore in the first quarter of 2021 compared to 152,307 ounces of gold produced in the first quarter of 2020. The decrease was primarily due to lower average process plant head grades and lower gold recoveries. During the first quarter of 2021, the Kumtor mine was processing ore with an average grade of 2.41 g/t and a recovery of 71.3% compared to ore from cut-back 19 with a higher average grade of 3.53 g/t and a recovery of 83.7% in the first quarter of 2020. Processing costs were $10.17 per tonne in the first quarter of 2021 compared to $10.89 per tonne in the first quarter of 2020. The decrease was primarily due to lower costs associated with foreign contractors and carbon fine processing. Gold production costs were $492 per ounce in the first quarter of 2021, compared to $334 per ounce in the first quarter of 2020. The increase was primarily due to lower ounces of gold sold. A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a851c419-adb6-41b6-8056-b72c1fb81497 All-in sustaining costs on a by-product basisNG, which excludes revenue-based tax, were $888 per ounce in the first quarter of 2021 compared to $648 per ounce in the first quarter of 2020. The increase was primarily due to fewer ounces of gold sold. All-in costs on a by-product basisNG were $1,417 per ounce in the first quarter of 2021 compared to $902 per ounce in the first quarter of 2020. The increase was due to an increase in all-in sustaining costs on a by-product basisNG and the planned purchase of additional haul trucks as required for the life of mine extension. Mount Milligan MineThe Mount Milligan Mine is an open pit mine located in north central British Columbia, Canada producing a gold and copper concentrate. Production at the Mount Milligan mine is subject to an arrangement with RGLD Gold AG and Royal Gold, Inc. (together, “Royal Gold”) pursuant to which Royal Gold is entitled to purchase 35% of the gold produced and 18.75% of the copper production at the Mount Milligan mine for $435 per ounce of gold delivered and 15% of the spot price per metric tonne of copper delivered. To satisfy its obligations under the Mount Milligan Streaming Arrangement the Company purchases refined gold and copper warrants and arranges for delivery to Royal Gold. The difference between the cost of the purchases of refined gold and copper warrants, and the corresponding amounts payable to the Company under the Mount Milligan Streaming Arrangement is recorded as a reduction of revenue and not a cost of operating the mine. Water UpdateStored water inventory at the Mount Milligan mine is critical to the ability to process ore through the mill process plant on a sustainable basis. Stored water was in excess of 4.5 million cubic metres as at March 31, 2021. In addition to accessing water from surface water sources throughout the first quarter of 2021, the Mount Milligan mine continued to access ground water from the Lower Rainbow Valley wellfield as well as other groundwater wells near the tailings storage facility during the quarter. The Company expects the water inventory level to increase through the summer of 2021 following the spring melt. Exploration activities continue to focus on extending the groundwater capacity in the vicinity of the existing infrastructure. The Company continues to pursue a longer-term solution to its water requirements at the Mount Milligan mine and is in discussions with regulators, First Nations partners and other stakeholders. In April 2021, the Company’s obtained an environmental assessment certificate amendment to access surface water sources for the Mount Milligan mine through November 2023, subject to the receipt of permits which are expected to be received shortly. The Company does not expect any interruptions to the Mount Milligan mine operations in the medium term when considering currently available water sources and inventory. See “Caution Regarding Forward-Looking Information”. Mount Milligan Operating Results Unaudited ($ millions, except as noted)Three months ended March 31,Financial Highlights: 2021 2020 % ChangeGold revenue$70.3 $48.9 44%Copper revenue 61.9 33.0 88%By-product revenue 3.3 1.7 94%Total Revenues$135.5 $83.6 62%Production costs 69.1 62.3 11%Depreciation, depletion and amortization 22.9 18.0 27%Earnings from mine operations$43.5 $3.3 1218%Exploration and development costs 0.9 0.5 82%Other operating expenses 2.9 2.1 37%Earnings from operations$39.7 $0.7 5573%Cash provided by mine operations 89.7 27.2 230%Cash provided by mine operations before changes in working capital 59.4 12.1 391%Free cash flow from mine operations(1) 80.2 22.0 265%Operating Highlights: Tonnes mined (000's) 10,673 10,889 (2%)Tonnes ore mined (000's) 5,122 4,689 9%Tonnes processed (000's) 4,770 4,871 (2%)Process plant head grade gold (g/t) 0.43 0.37 17%Process plant head grade copper (%) 0.23% 0.26%(11%)Gold recovery (%) 66.2% 59.9%11%Copper recovery (%) 80.0% 75.5%6%Mining costs ($/t mined material) 1.89 1.75 8%Processing costs - total ($/t processed material) 5.93 4.93 20%Concentrate produced (dmt) 41,904 45,087 (7%)Gold produced (oz) (2) 42,576 33,681 26%Copper produced (000's lb) (2) 18,609 20,072 (7%)Gold sold (oz)(2) 54,498 40,353 35%Copper sold (000's lb)(2) 22,783 20,423 12%Average realized gold price - combined ($/oz)(1)(2) 1,291 1,213 6%Average realized copper price - combined ($/lb) (1)(2) 2.72 1.61 69%Sustaining capital expenditures(3) 11.3 5.3 115%Unit Costs: Gold production costs ($/oz)$675 $848 (20%)All-in sustaining costs on a by-product basis ($/oz) (1)(4)$367 $911 (60%)All-in costs on a by-product basis ($ /oz)(1)(4)$386 $923 (58%)Gold - All-in sustaining costs on a co-product basis ($/oz)(1)$802 $948 (15%)Copper production costs ($/lb)$1.42 $1.37 4%Copper - All-in Sustaining costs on a co-product basis ($/lb)(1)$1.68 $1.52 11% (1) Non-GAAP measure. See discussion under “Non-GAAP Measures”.(2)Mount Milligan production and sales are presented on a 100% basis. Under the Mount Milligan Streaming Arrangement, Royal Gold is entitled to 35% of gold ounces and 18.75% of copper. Royal Gold pays $435 per ounce of gold delivered and 15% of the spot price per metric tonne of copper delivered.(3) Capital expenditures are presented as spent and accrued.(4) Includes the impact of reduced metal prices resulting from the Mount Milligan Streaming Arrangement, and the impact of copper hedges. First Quarter 2021 compared to First Quarter 2020Earnings from mine operations of $43.5 million were recognized in the first quarter of 2021 compared to $3.3 million in the first quarter of 2020. The increase was primarily due to higher average realized gold and copper prices, and an increase in ounces of gold and pounds of copper sold, partially offset by an increase in production costs and depreciation. A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c1b674b-585e-413c-a7dd-3449c36500b8 Cash provided by mine operations of $89.7 million was recognized in the first quarter of 2021 compared to $27.2 million in the first quarter of 2020. The increase was primarily due to higher net earnings from mine operations (explained above) and an increase in cash generated from working capital. Working capital levels decreased by approximately $19 million in the first quarter of 2021, as a result of lower product inventories and higher payables due to the timing of shipments and of payments, partially offset by an increase in receivables. The reduction in working capital in the first quarter of 2020 was approximately $8 million. Free cash flow from mine operationsNG of $80.2 million was recognized in the first quarter of 2021 compared to $22 million in the first quarter of 2020, due to an increase in cash provided by mine operations, partially offset by an increase in capital expenditures related to major planned equipment rebuilds and tailings storage facility development. During the first quarter of 2021, mining activities were carried out in phases 4, 5 and 8 of the open pit. Total tonnes mined were 10.7 million tonnes in the first quarter of 2021 compared to 10.9 million tonnes in the first quarter of 2020. Mining costs were $1.89 per tonne in the first quarter of 2021 compared to $1.75 per tonne in the first quarter of 2020. The increase was due to higher maintenance costs associated with planned repairs, higher tire costs as a result of higher tire consumption and lower tonnage mined. Total mill throughput for the first quarter of 2021 was 4.8 million tonnes, averaging 53,000 tonnes per calendar day, compared to 4.9 million tonnes, averaging 53,500 tonnes per calendar day in the first quarter of 2020. Lower mill throughput was a result of a planned mill shutdown during the first quarter of 2021. Gold production was 42,576 ounces in the first quarter of 2021 compared to 33,681 ounces in the first quarter of 2020. The increase was due to higher gold grades and recoveries, partially offset by lower throughput. During the first quarter of 2021, the average gold grade was 0.43 g/t with a recovery of 66% compared to 0.37 g/t with a recovery of 60% in the first quarter of 2020. Total copper production was 18.6 million pounds in the first quarter of 2021 compared to 20.1 million pounds in the first quarter of 2020. The decrease was due to lower copper grades and lower mill throughput, partially offset by higher copper recoveries. Processing costs were $5.93 per tonne in the first quarter of 2021 compared to $4.93 per tonne in the first quarter of 2020. The increase was due to higher maintenance cost associated with the mill shutdown and lower tonnage processed. This was partially offset by lower electricity consumption. Gold production costs were $675 per ounce in the first quarter of 2021 compared to $848 per ounce in first quarter of 2020. The decrease was due to more ounces of gold sold, partially offset by higher processing costs as a result of the planned mill shutdown and slightly higher mining costs. Copper production costs were $1.42 per pound in the first quarter of 2021 compared to $1.37 per pound in the first quarter of 2020. The increase in copper pounds sold in the first quarter of 2021, was offset by a higher allocation of production costs to copper as a result of the relative strength of the copper price to the gold price. A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69d6bbc9-686a-4a0d-9dc3-51530cae8a4a All-in sustaining costs on a by-product basisNG were $367 per ounce in the first quarter of 2021 compared to $911 per ounce in the first quarter of 2020. The decrease was primarily due to 69% higher average realized copper prices and increased pounds of copper and ounces of gold sold, compared to the same prior year period, partially offset by higher production costs and sustaining capital. All-in costs on a by-product basisNG were $386 per ounce in the first quarter of 2021 compared to $923 per ounce in the first quarter of 2020. The decrease was due to lower all-in sustaining costs on a by-product basisNG. Öksüt MineThe Öksüt mine is located in Turkey approximately 300 kilometres southeast of Ankara and 48 kilometres south of Kayseri, the provincial capital. The nearest administrative centre is Develi, located approximately 10 kilometres north of the mine site. Mining permit updateDuring 2020, the Öksüt mine obtained an amendment to its environmental impact assessment (“EIA”) to accommodate changes to the Güneytepe open pit’s mine design and pit optimization although an application for the related forestry permit remains under review. The Company’s expectation is that the high-grade ore of the Güneytepe deposit will be accessed in 2022, which remains unchanged. Öksüt Operating ResultsThe Öksüt mine achieved first gold pour on January 31, 2020 and achieved commercial production on May 31, 2020. Up to the point of achieving commercial production, gold revenue and the associated costs of production were capitalized. Unaudited ($ millions, except as noted)Three months ended March 31,Financial Highlights:20212020% ChangeRevenue$49.9 Production costs 16.1 Depreciation, depletion and amortization 9.7 Earnings from mine operations$24.1 Exploration and development costs 0.3 Earnings from operations$23.8 Cash provided by mine operations 32.0 Cash provided by mine operations before changes in working capital 32.7 Free cash flow from mine operations (1) 25.7 Operating Highlights: Tonnes mined (000's) 3,2802,87514%Tonnes ore mined (000's) 503571(12%)Ore mined - grade (g/t) 0.850.91(7%)Ore crushed (000's) 52540330%Tonnes stacked (000's) 52530274%Heap leach grade (g/t) 0.831.05(21%)Heap leach contained ounces stacked 14,06410,19138%Mining costs ($/t mined material) 1.76 Processing costs ($/t processed material) 5.15 Gold produced (oz) 27,6014,486515%Gold sold (oz)(2) 27,5842,815880%Average realized gold price ($/oz)(1) 1,809 Sustaining capital expenditures(2) 1.1 Non-sustaining capital expenditures(2)(3) 0.38.8(97%)Capitalized stripping(2) 4.4 Capital expenditures - total 5.88.8(34%)Unit Costs: Gold production costs ($/oz)$583 All-in sustaining costs on a by-product basis ($/oz)(1)$804 All-in costs on a by-product basis ($ /oz)(1)$827 (1) Non-GAAP measure. See discussion under “Non-GAAP Measures”.(2) Capital expenditures are presented as spent and accrued.(3) Non-sustaining capital expenditures are distinct projects designed to have a significant increase in the net present value of the mine. In the current year, non-sustaining capital expenditures included construction costs. First Quarter 2021During the first quarter of 2021, earnings from mine operations were $24.1 million, cash provided by mine operations was $32 million and free cash flow from mine operationsNG was $25.7 million. Total gold ounces sold were 27,584, resulting in revenue of $49.9 million for the first quarter of 2021. Non-sustaining capital expenditures in the first quarter of 2021 were $0.3 million compared to $8.8 million in the first quarter of 2020. The higher capital costs in the first quarter of 2020 were related to the final stages of the construction of the mine. Mining in the first quarter of 2021 was focused on the development of phase 3 and phase 4 of the Keltepe pit, with total tonnes mined of 3.3 million. Processing in the first quarter of 2021 was focused on the preparation, stacking and irrigation of the heap leach pad, with tonnes stacked of 0.53 million at a gold grade of 0.83 g/t. Gold production costs were $583 per ounce, all-in sustaining costs on a by-product basisNG were $804 per ounce and all-in costs on a by-product basisNG were $827 per ounce in the first quarter of 2021. Molybdenum Business UnitThe molybdenum business includes two North American molybdenum mines that are currently on care and maintenance: the Thompson Creek mine in Idaho and the 75%-owned Endako mine in British Columbia. The molybdenum business also includes the Langeloth metallurgical roasting facility (the Langeloth Facility) in Pennsylvania. The Thompson Creek mine (the “TC mine”) operates a molybdenum beneficiation circuit to treat molybdenum concentrates to supplement the concentrate feed sourced directly for the Langeloth Facility. This beneficiation process allows the Company to upgrade high copper content molybdenum concentrate purchased from third parties into upgraded products which are then sold in the metallurgical and chemical markets. Additionally, the molybdenum business provides tolling treatment services for customers by converting molybdenum concentrates to molybdenum oxide powder, briquettes and ferromolybdenum products. ($ millions, except as noted)Three months ended March 31,Financial Highlights: 2021 2020 % ChangeMolybdenum (Mo) revenue$38.7 $41.7 (7%)Tolling and calcining revenue 0.8 1.6 (50%)By-product revenue 1.3 1.1 18%Total revenues$40.8 $44.4 (8%)Production costs 36.1 53.7 (33%)Depreciation, depletion and amortization 1.8 1.4 29%Earnings (loss) from mine operations$2.9 $(10.7)127%Care and Maintenance costs - Molybdenum mines 3.2 3.2 0%Reclamation (recovery) expense (10.9) 26.4 141%Other operating expenses 0.8 0.9 (12%)Net earnings (loss) from operations$9.8 $(41.2)124%Cash (used in) provided by operations (6.8) 10.4 (165%)Free cash flow (deficit) from operations (1) (7.5) 9.2 (182%)Operating Highlights (000's lbs): Mo purchased 2,795 3,342 (16%)Mo roasted 2,659 4,382 (39%)Mo sold 3,309 3,790 (13%)Average Mo spot price ($/lb)$11.29 $9.64 17%Total capital expenditures(2)$0.7 $0.8 (15%) (1)Non-GAAP measure. See discussion under “Non-GAAP Measures”.(2) Capital expenditures are presented as spent and accrued. First Quarter 2021 compared to First Quarter 2020Net earnings from operations of $9.8 million was recognized in the first quarter of 2021 compared to a net loss of $41.2 million in the first quarter of 2020. The increase in the first quarter of 2021 was mainly due to the gain recorded resulting from the reduction in the underlying reclamation liability, as a result of a change in interest rates and a higher gross margin on materials sold. Cash used in operations of $6.8 million was recognized in the first quarter of 2021, compared to cash provided by operations of $10.4 million in the first quarter of 2020. The decrease was due to a $11.4 million tax refund that was received in the first quarter of 2020. A free cash flow deficit from operationsNG of $7.5 million was recognized in the first quarter of 2021 compared to a free cash flow from operationsNG of $9.2 million in the first quarter of 2020, due to the tax refund received in 2020. The Langeloth Facility roasted and sold 2.7 million pounds and 3.3 million pounds of molybdenum, respectively, in the first quarter of 2021, compared to 4.4 million pounds and 3.8 million pounds of molybdenum in the first quarter of 2020. This decrease in volume was the result of a decline in demand for industrial products that use molybdenum in 2021. A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8806d6c-5274-49e0-b8cd-beda79a4d022 Pre-Development Projects Kemess Underground Project:The Kemess Project (“Kemess”) is located in north-central British Columbia, Canada, approximately 250 kilometres north of Smithers, 430 kilometres northwest of Prince George and 209 kilometres from the Mount Milligan mine. The Kemess site includes infrastructure from the past producing Kemess South mine. There are currently no mining activities at the Kemess site and on-site activities consist of care and maintenance work and pre-development activities for the proposed Kemess Underground Project. First Quarter 2021 compared to First Quarter 2020Care and maintenance costs of $3.2 million were recognized in the first quarter of 2021, compared to $3.5 million recognized in the first quarter of 2020. Capital expenditures of $0.2 million were recognized in the first quarter of 2021, compared to $1.8 million in the first quarter of 2020. The capital expenditures in the first quarter of 2021 included costs for completion of the value engineering project scope initiated in 2020. The capital expenditures in the first quarter of 2020 included costs for technical engineering studies, water treatment plant performance testing preparation and southern collection system pond construction. The water treatment plant was completed and commissioned in September 2020. Greenstone Gold Property:The Greenstone Gold property is located in northern Ontario, Canada approximately 275 kilometres northeast of Thunder Bay and includes the Hardrock deposit. On December 15, 2020, the Company entered into an agreement with an affiliate of the Orion Mine Finance Group (“Orion”) and Premier Gold Mines Limited to sell the Company’s 50% interest in the Greenstone Gold Mines Partnership to Orion for cash consideration of $225 million, subject to certain adjustments, and contingent consideration of approximately $75 million, assuming a gold price of $1,500 per ounce, based on the successful construction and operation of the mine, which will be recorded on achieving the applicable milestones. On January 19, 2021, the Company completed the sale of its 50% interest in the Greenstone Gold Mines Partnership with final cash consideration received of $210 million, net of adjustments, and recognized a gain on sale of $72.3 million (excluding contingent consideration). Quarterly Results – Previous Eight Quarters Over the last eight quarters, Centerra’s results reflect the impact of consistent gold and copper sales during a period of rising prices. Production costs have benefited from the depreciating Kyrgyz and Turkish currencies over the last eight quarters. Gold sold on a quarterly basis steadily increased from the second quarter of 2019 to the third quarter of 2019, followed by a slight decline in the fourth quarter of 2019, increasing again in the first nine months of 2020 as the Öksüt mine reached commercial production on May 31, 2020, declining in the fourth quarter of 2020 due to lower ounces of gold sold at Kumtor and rising again in the first quarter of 2021. The loss in the third quarter of 2019 reflects the impairment of $230.5 million recorded on the Mount Milligan mine and a $10 million Kyrgyz Republic settlement expense. As a result of a change in the interest rate used to discount the reclamation costs at the two molybdenum mine sites which are not in operation, a non-cash reclamation expense was recognized in the fourth quarters of 2019 and 2020 of $31.4 million and $53.4 million, respectively, while a recovery of $10.9 million was recognized in the first quarter of 2021. The first quarter of 2021 also reflects a gain of $72.3 million on the sale of the Greenstone property. The quarterly financial results for the last eight quarters are shown below: $ million, except per share data202120202019Quarterly data unaudited Q1Q4Q3Q2Q1Q4Q3Q2Revenue402392522418379317 393 345Net earnings (loss)167952068820(12)(165)33Basic earnings (loss) per share0.570.320.700.300.07(0.04)(0.56)0.11Diluted earnings (loss) per share0.550.320.680.290.06(0.04)(0.56)0.11 Related party transactions KyrgyzaltynThe sole customer of gold doré from the Kumtor mine, Kyrgyzaltyn JSC (“Kyrgyzaltyn”), is a shareholder of the Company and is a state-owned entity of the Kyrgyz Republic. Revenues from the Kumtor mine are subject to a management fee of $1.00 per ounce based on sales volumes, payable to Kyrgyzaltyn. In addition, Kyrgyzaltyn is obligated to provide contracting services in support of Kumtor’s mining activities. During the first quarter of 2021, net revenue received for gold and silver sales by Kumtor to Kyrgyzaltyn amounted to $175.6 million ($250.8 million in the first quarter of 2020). Contracting services and management fees payable to Kyrgyzaltyn totalled $0.4 million in the first quarter of 2021 ($0.3 million in the comparative quarter of 2020). Contingencies The following is a summary of contingencies with respect to matters affecting the Company and its subsidiaries. Readers are cautioned that the following is only a brief summary of such matters. For a more complete discussion of these matters, see the Company’s news releases and its most recently filed Annual Information Form and specifically the section therein entitled “Risks that can affect our business” available on SEDAR at www.sedar.com.The following summary also contains forward-looking statements and readers are referred to “Caution Regarding Forward-looking Information”. Kyrgyz Republic State CommissionIn February 2021, a Kyrgyz Republic State Commission (the “State Commission”) was formed to review the effectiveness of the Kumtor Mine’s performance and to oversee the implementation of the recommendations of a previous Kyrgyz Parliamentary resolution which established a State Commission in July 2012. The Company and its wholly owned subsidiary, KGC, have received a significant number of detailed inquiries from the State Commission, as well as related inquiries from other state agencies and bodies, including Kyrgyzaltyn, and is continuing to respond to all such inquiries. The Company understands that the State Commission has completed its review and will issue a report shortly. New and Proposed Legislation External Management LegislationAs previously disclosed, the Company understands that a new law has been passed by the Kyrgyz Republic Parliament which would enable the Kyrgyz Republic Government to impose “external management” on companies in the Kyrgyz Republic operating under concession agreements. The sponsor of the law, Mr. Akylbek Japarov, publicly noted that the only project operating under a concession agreement in the Kyrgyz Republic is the Kumtor Mine. Accordingly, the Company understands that this newly adopted law on external management would apply in circumstances where KGC violates certain Kyrgyz laws relating to safety and thereby creates an immediate threat to the life or health of people. In such circumstances, the law would (i) enable the Prime Minister of the Kyrgyz Republic to appoint an external manager to take control of all management activities of KGC, including its bank accounts, and (ii) prohibit the Company or KGC’s board of directors from directing the external managers (or else face criminal sanctions). Mr. A. Japarov, who proposed this new law, is also the Chairman of the Kyrgyz Republic State Commission referred to above. Draft Legislation Undermining 2009 Restated Project AgreementsThe Company also understands that two draft laws relating to Kumtor have been posted for public discussion on the Kyrgyz Republic Parliament’s website. Such draft laws appear to amend the 2009 Kyrgyz Republic Law which ratified the Agreement of New Terms for the Kumtor Project, the 2009 Restated Project Agreements and special fiscal and tax regime established therein for the Kumtor Project. The precise impact of the draft laws is unclear since there remain gaps in the drafting of the proposal; however, the drafts have the potential to fundamentally alter the legal foundation under which the Kumtor Mine has operated since 2009. Furthermore, the Company is aware of a draft decree of the Kyrgyz Republic Government which appears to be seek ownership over the Kumtor’s Mine’s tailings facilities. Citizens Claims for Waste Rock Dumping on GlaciersIn March 2021, four Kyrgyz Republic private citizens commenced a civil claim against KGC seeking a determination that KGC’s past practice of placing waste rock on glaciers was illegal. In early May 2021, the Claimants amended their claim to demand over $3 billion in environmental damages to be paid to the Kyrgyz Republic. The Company notes that one of the claimants is the son of the current Director of the Kyrgyz Republic State Agency for Environment Protection and Forestry (“SAEPF”). The hearing on the merits of this citizen claim was commenced in early May 2021 and a decision was rendered by the Kyrgyz court on May 7, 2021, with a demand that KGC pay approximately $3.1 billion to the Kyrgyz Republic state. KGC is reviewing the court decision and plans to appeal this decision, while reserving its right to international arbitration. The Company notes that the Strategic Agreement resolved all outstanding environmental disputes between the Kyrgyz Republic Government and KGC relating to the Kumtor Project, including “damages for harm allegedly caused to the environment by storing production tails on glaciers”. Tax ClaimsOn March 18, 2021, Centerra disclosed certain tax claims received by its Kyrgyz Republic subsidiary KGC, from the Kyrgyz Republic State Tax Service (“STS”) for an aggregate of approximately $146 million (subsequently increased to approximately $352 million) and which cover a variety of tax years, as more fully described below. In some cases, these claims contradict previous decisions from the STS and the Kyrgyz courts and include significant penalties and / or sanctions that in some cases are more than half of the total amount claimed. The Company believes the claims are exaggerated and without merit and is challenging the claims in the Kyrgyz courts while reserving its rights to international arbitration. The claims commenced by STS against KGC cover a variety of bases and years, including tax years which STS re-audited. In some cases, there are no monetary amounts attributed yet to the claim, but management estimates that the aggregate amount that could be claimed by STS on the bases set out below and the years being audited/re-audited is approximately $352 million (which includes amounts disclosed in the March 18, 2021 news release). Unless otherwise stated below, these claims have been brought by the STS and are not yet subject to any court proceedings. Where court proceedings are occurring, KGC has reserved its rights to international arbitration. The bases for the tax claims include the following: Dividend Claims: Claims covering a variety of years related to withholding taxes on dividends paid by KGC to its direct parent company, Centerra. Management estimates that these claims are for an aggregate of approximately $147 million which includes approximately $55 million for penalties and sanctions. KGC has challenged the decision of the STS in relation to their request for withholding taxes for the tax year 2016-2017 before the Kyrgyz administrative courts; Social Fund Claims: Claims covering a variety of years in relation to alleged underpayments to the Kyrgyz Republic Social Fund. Management estimates that the aggregate amounts under these claims could be $21 million, which includes approximately $10 million in penalties. KGC received a statement of claim in relation to amounts allegedly owing for the years 2016-2017 and is disputing the claim;Employee Income Tax Claims: Claims covering a variety of years related to payroll deductions not withheld by KGC on certain premiums paid primarily to national employees. Management estimates that the aggregate amounts are of these claims are approximately $36 million, which includes approximately $9.5 million in penalties. STS has applied to a Kyrgyz appeal court in respect to the years 2016 and 2017, and to specifically overturn a lower court's 2018 decision in favour of KGC which ruled that certain premiums payable to Kumtor employees were not subject to income tax withholdings. In a single hearing, the Kyrgyz appeal court reinstated the appeal period, quashed the lower court ruling in favour of KGC, and ruled on the merits against KGC on all issues. While KGC has appealed the decision to the Supreme Court, it is possible that the State Tax Service may demand payment in respect of these amounts which the Company expects to be approximately $17 million (included in the $36 million noted above); and Annual Amounts under the Restated Investment Agreement: The Kyrgyz Republic is also claiming that KGC has not fulfilled its obligations under the Restated Investment Agreement regarding paying an annual amount equal to 4% of Kumtor’s gross proceeds, beginning from 2010. The Company disputes this claim and has referred the regulatory authorities to the full provision in the 2009 Restated Investment Agreement which sets out the calculation and the credits which are available to KGC in determining whether any annual amount is payable. Management estimates that the aggregate amount of this claim is approximately $148 million. Centerra notes that the 2009 Restated Project Agreements which govern the Kumtor Mine contain a specific tax and fiscal regime applicable to the Kumtor Mine. That tax and fiscal regime provides, among other things, that no taxes are payable by KGC on intercompany transactions with Centerra, including dividends. The 2009 Restated Project Agreements were confirmed by the Kyrgyz Republic Government in the Kumtor Strategic Agreement signed on September 11, 2017, which was completed and reaffirmed in August 2019. New Barskoon ClaimantsIn January 2021, the Kyrgyz Republic Supreme Court upheld a lower court ruling awarding damages and other costs to plaintiffs in the 1998 Barskoon truck accident case. An aggregate total of KGS 7,200,000 (or approximately $91,000) was awarded in damages. That decision is final and not subject to further appeal. KGC paid all plaintiffs the required amounts and the process was completed in early March 2021. Under a 1999 settlement agreement, the Kyrgyz Republic Government has agreed to indemnify KGC from any damages in connection with the Barskoon cyanide incident and, under the terms of the 2009 Restated Project Agreements, KGC may set off such amounts against future taxes payable to the Government. On April 12, 2021, KGC received a new Statement of Claim initiated by 54 residents of Barskoon, Tosor, Kichi Zhargylchak and Chon Zhargylchak villages of Jety-Oguz District, seeking compensation in the amount of KGS 2 million (or approximately $24,000) for each plaintiff in relation to the Barskoon accident. KGC understands that the Kyrgyz court has returned the Statement of Claim and refused to accept the claim for further consideration. New and Re-Opened Criminal ProceedingsThe Company understands that the Kyrgyz Republic authorities have opened an investigation into KGC allegedly exporting antimony ores or concentrates from the Kyrgyz Republic, which the KGC denies. The Company also understands that such authorities have re-opened previously closed criminal investigations including those related to the Lysii waste dump incident in 2019 and the Petrov Lake incident in 2020. In this regard, KGC notes that the Kyrgyz commissions previously formed to review such incidents concluded that no crime had occurred in each case. The Company believes that the actions of the Kyrgyz Republic authorities described above are a concerted effort to coerce Centerra to give up economic value or ownership of the Kumtor Mine or to falsely justify a nationalization of the Kumtor Mine. While the Company has benefited from a close and constructive dialogue with the Kyrgyz Republic authorities over many years and remains committed to trying to work with them to resolve any outstanding issues in accordance with the 2009 Restated Project Agreements applicable to the Kumtor Mine, it will not hesitate to use all legal avenues to protect its legal rights and interests and those of its shareholders and will pursue its claims in international arbitration proceedings. In light of the above developments, the Company has formally notified the Kyrgyz Republic Government that, among other things, their actions or threatened actions, including new and proposed legislation, and the actions by the STS, violate or may violate terms of the 2009 Restated Investment Agreement and related project agreements applicable to the Kumtor Mine, and constitute “Disputes” under those agreements. There can be no assurance that any of these matters can be resolved without a material impact on the Company. There remains the further risk that additional regulatory, tax, or civil claims will be commenced against the Company, and that additional legislation is introduced which may impact the Kumtor Mine’s operations. See “Caution Regarding Forward-Looking Information” and the section titled “Risks Factors” in our most recently completed Annual Information Form. Canada Mount Milligan Mine As previously disclosed, in the first quarter of 2020, the Company received a notice of civil claim from H.R.S. Resources Corp. (“H.R.S.”), the holder of a 2% production royalty at Mount Milligan. H.R.S. claims that since November 2016 (when the royalty became payable) the Company has incorrectly calculated amounts payable under the production royalty agreement and has therefore underpaid amounts owing to H.R.S. The Company disputes the claim and believes it has correctly calculated the royalty payments in accordance with the agreement. The Company believes that the potential exposure in relation to this claim, over what the Company has accrued, is not material. Other The Company operates in multiple countries around the world and accordingly is subject to, and pays taxes under the various regimes in those jurisdictions in which it operates. These tax regimes are determined under general taxation and other laws of the respective jurisdiction. The Company has historically filed, and continues to file, all required tax returns and to pay the taxes reasonably determined to be due. The tax rules and regulations in many countries are complex and subject to interpretation. From time to time the Company’s tax filings are subject to review and in connection with such reviews, disputes can arise with the taxing authorities over the Company’s interpretation of the country’s tax laws. The Company records provisions for future tax assessments considered to be probable. As at March 31, 2021, the Company did not have any material provision for claims or taxation assessments. Accounting Estimates, Policies and Changes Accounting EstimatesThe preparation of the Company’s consolidated financial statements in accordance with IFRS required management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. The critical estimates and judgments applied in the preparation of the Company’s condensed consolidated interim financial statements for the three months ended March 31, 2021 are consistent with those used in the Company’s consolidated financial statements for the year ended December 31, 2020. Management’s estimates and underlying assumptions are reviewed on an ongoing basis. Any changes or revisions to estimates and underlying assumptions are recognized in the period in which the estimates are revised and in any future periods affected. Changes to these critical accounting estimates could have a material impact on the consolidated financial statements. The key sources of estimation uncertainty and judgment used in the preparation of the consolidated financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities and earnings within the next financial year are outlined in detail in note 4 of the December 31, 2020 financial statements. Disclosure Controls and Procedures and Internal Control Over Financial Reporting The Company’s management, including the CEO and CFO, is responsible for the design of disclosure controls and procedures (“DC&P”) and internal controls over financial reporting (“ICFR”). Centerra adheres to the Committee of Sponsoring Organizations of the Treadway Commission’s (“COSO”) revised 2013 Internal Control Framework for the design of its ICFR. There was no material change to the Company’s internal controls over financial reporting that occurred during the first quarter of 2021 that has materially affected, or is reasonably likely to materially affect, the Company’s internal controls over financial reporting. The evaluation of DC&P and ICFR was carried out under the supervision of and with the participation of management, including Centerra’s CEO and CFO. Based on these evaluations, the CEO and the CFO concluded that the design of these DC&P and ICFR were effective throughout the first quarter of 2021. Non-GAAP Measures This document contains the following non-GAAP financial measures: all-in sustaining costs per ounce on a by-product basis, all-in sustaining costs per ounce on a by-product basis including revenue-based taxes, all-in sustaining costs per ounce on a co-product basis and all-in costs on a by-product basis per ounce. In addition, non-GAAP financial measures include adjusted net earnings, adjusted net earnings per common share (basic and diluted), average realized gold price, average realized copper price, adjusted cash provided by operations, free cash flow from operations and adjusted free cash flow from operations. These financial measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers, even as compared to other issuers who may be applying the World Gold Council (“WGC”) guidelines, which can be found at http://www.gold.org. Management believes that the use of these non-GAAP measures will assist analysts, investors and other stakeholders of the Company in understanding the costs associated with producing gold, understanding the economics of gold mining, assessing our operating performance, our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis, and for planning and forecasting of future periods. However, the measures do have limitations as analytical tools as they may be influenced by the point in the life cycle of a specific mine and the level of additional exploration or expenditures a company has to make to fully develop its properties. Accordingly, these non-GAAP measures should not be considered in isolation, or as a substitute for, analysis of our results as reported under GAAP. DefinitionsThe following is a description of the non-GAAP measures used in this MD&A: All-in sustaining costs on a by-product basis per ounce include adjusted operating costs, the cash component of capitalized stripping costs, corporate general and administrative expenses, accretion expenses, and sustaining capital, net of copper and silver credits. The measure incorporates costs related to sustaining production. When calculating all-in sustaining costs on a by-product basis, all revenue received from the sale of copper from the Mount Milligan mine, as reduced by the effect of the copper stream, is treated as a reduction of costs incurred. All-in sustaining costs on a by-product basis per ounce excludes revenue-based taxes.All-in sustaining costs on a co-product basis per ounce of gold or per pound of copper, are based on an allocation of production costs between copper and gold based on the conversion of copper production to ounces of gold equivalent. For the first quarter of 2021, 475 pounds of copper were equivalent to one ounce of gold. All-in sustaining costs on a co-product basis per ounce of gold or per pound of copper excludes revenue-based taxes.All-in costs on a by-product basis per ounce include all-in sustaining costs on a by-product basis including revenue-based taxes, exploration and study costs, non-sustaining capital expenditures, care and maintenance and pre-development costs.Non-sustaining capital expenditures are costs incurred at new operations and costs related to major projects at existing operations where these projects will materially benefit the operation.Adjusted net earnings is calculated by adjusting net earnings (loss) as recorded in the consolidated statements of income (loss) and comprehensive income (loss) for items not associated with ongoing operations.Adjusted cash provided by operations is calculated by adjusting cash provided by operations as recorded in the condensed consolidated interim statements of statements of cash flows for items not associated with ongoing operations.Average realized gold price is calculated by dividing the different components of gold sales (including third party sales, mark to market adjustments, final pricing adjustments and the fixed amount received under the Mount Milligan Streaming Arrangement(1)) by the number of ounces sold.Average realized copper price is calculated by dividing the different components of copper sales (including third party sales, mark to market adjustments, final pricing adjustments and the fixed amount received under the Mount Milligan Streaming Arrangement(1)) by the number of pounds sold.Free cash flow is calculated as cash provided by operations less additions to property, plant and equipment.Free cash flow from mine operations is calculated as cash provided by mine operations less additions to property, plant and equipment.Adjusted free cash flow from operations is calculated as free cash flow adjusted for items not associated with ongoing operations. (1)Realized revenue for the gold and copper concentrate produced at the Mount Milligan mine reflects the actual price received from customers upon final settlement for both the contained gold and copper, less the difference between the cost of the purchased refined gold and copper warrants to satisfy the Company’s obligations under the Mount Milligan Streaming Arrangement and the amount the Company receives under that arrangement. Certain unit costs, including all-in sustaining costs on a by-product basis (including and excluding revenue-based taxes) per ounce are non-GAAP measures and can be reconciled as follows: Three months ended March 31,(Unaudited - $ millions, unless otherwise specified)Consolidated Kumtor Mount Milligan Öksüt 2021 2020 2021 2020 2021 2020 2021 Production costs attributable to gold101.3 87.7 48.4 53.4 36.8 34.3 16.1Production costs attributable to copper32.3 28.0 - - 32.3 28.0 -Total production costs excluding molybdenum segment, as reported133.6 115.7 48.4 53.4 69.1 62.3 16.1Adjust for: Third party smelting, refining and transport costs3.8 4.0 0.9 1.7 2.9 2.3 -By-product and co-product credits(67.3)(36.6) (2.1)(1.9) (65.2)(34.7) -Community costs related to current operations1.8 11.3 1.8 11.3 - - -Adjusted production costs71.9 94.4 49.0 64.5 6.8 29.9 16.1Corporate general administrative and other costs5.0 3.2 - - 0.2 - -Reclamation and remediation - accretion (operating sites)1.3 1.5 0.2 1.0 0.6 0.5 0.5Capitalized stripping(1)34.9 30.0 30.5 30.0 - - 4.4Sustaining capital expenditures(1)20.1 13.7 7.7 8.4 11.3 5.3 1.1Sustaining leases1.2 1.0 - - 1.1 1.0 0.1All-in sustaining costs on a by-product basis134.4 143.8 87.4 103.9 20.0 36.7 22.2Revenue-based taxes24.6 35.1 24.6 35.1 - - -All-in sustaining costs on a by-product basis (including revenue-based taxes)159.0 178.9 112.0 139.0 20.0 36.7 22.2Exploration and study costs9.3 7.8 5.8 4.7 0.9 0.5 0.3Non-sustaining capital expenditures(1)(2)22.2 13.4 21.6 0.7 0.1 - 0.3Care and maintenance costs and pre-development costs3.2 5.2 - - - - -All-in costs on a by-product basis193.7 205.3 139.4 144.4 21.0 37.2 22.8Ounces sold (000's)180.5 200.5 98.4 160.1 54.5 40.4 27.6Pounds sold (millions)22.8 20.4 - - 22.8 20.4 -Gold production costs ($ /oz)561 437 492 334 675 848 583All-in sustaining costs on a by-product basis ($ /oz)745 718 888 648 367 911 804All-in sustaining costs on a by-product basis, including revenue-based taxes ($ /oz)881 893 1,138 868 367 911 804All-in costs on a by-product basis ($ /oz)1,073 1,024 1,417 902 386 923 827Gold - All-in sustaining costs on a co-product basis ($ /oz)876 676 888 648 802 948 804Copper production costs ($ /pound)1.42 1.37 n/a n/a 1.42 1.37 n/a Copper - All-in sustaining costs on a co-product basis ($ /pound)1.68 1.52 n/a n/a 1.68 1.52 n/a (1) Capital expenditures are presented on a cash basis.(2) Non-sustaining capital expenditures are distinct projects designed to have a significant increase in the net present value of the mine. In the current year, non-sustaining capital expenditures included costs related to the mine expansion at Kumtor and construction costs at the Öksüt mine. Adjusted net earnings can be reconciled as follows:Adjusted net earnings is intended to provide investors with information about the Company’s continuing income generating capabilities. This measure adjusts for the earnings impact of items not associated with ongoing operations. Three months ended March 31,($ millions, except as noted)2021 2020 Net earnings$167.4 $20.0 Adjust for items not associated with ongoing operations: Gain on sale of Greenstone property (72.3) - ARO revaluation at sites on care and maintenance (10.9) 26.4 Adjusted net earnings$84.2 $46.4 Net earnings per share - basic$0.57 $0.07 Net earnings per share - diluted$0.55 $0.06 Adjusted net earnings per share - basic$0.28 $0.16 Adjusted net earnings per share - diluted$0.28 $0.16 Free cash flow is calculated as follows: Three months ended March 31($ millions, except as noted)2021 2020 Cash provided by operations (1)$153.1 $121.1 Adjust for: Additions to property, plant and equipment (1) (81.0) (44.1) Free cash flow$72.1 $77.0 (1) As presented in the Company’s Consolidated Statement of Cash Flows. Average realized sales price for goldThe average realized gold price per ounce is calculated by dividing gold sales revenue, together with the final pricing adjustments, impact of reduced metal prices resulting from the Mount Milligan Streaming Arrangement, the impact of gold hedges and mark-to-market adjustments by the ounces sold, as shown in the table below: Average realized sales price for goldThree months ended March 31, 2021 2020 Gold sales reconciliation ($ millions) Gold sales - Kumtor173.6 248.9 Gold sales - Öksüt49.9 - Gold sales - Mount Milligan Gold sales related to cash portion of Royal Gold stream8.1 6.0 Mark-to-market adjustments on sales to Royal Gold0.2 (0.1)Final adjustments on sales to Royal Gold1.2 (0.8)Total gold sales under Royal Gold stream9.5 5.1 Gold sales to third party customers63.2 40.3 Mark-to-market adjustments(1.0)(0.6)Final pricing adjustments(3.0)3.5 Final metal adjustments1.9 0.8 Total gold sales to third party customers61.1 44.0 Gold sales, net of adjustments70.6 49.1 Refining and treatment costs(0.3)(0.2)Total gold sales70.3 48.9 Total gold revenue - Consolidated293.8 297.8 Ounces of gold sold Gold ounces sold - Kumtor98,437 160,090 Gold ounces sold - Öksüt27,584 - Ounces sold to Royal Gold - Mount Milligan19,010 14,027 Ounces sold to third party customers - Mount Milligan35,488 26,326 Total ounces sold - Consolidated180,519 200,443 Average realized sales price for gold on a per ounce basis Average realized sales price - Kumtor1,763 1,555 Average realized sales price - Öksüt1,809 - Average realized gold price - Royal Gold435 435 Average realized gold price - Mark-to-market adjustments11 (24)Average realized gold price - Final pricing adjustments62 (60)Average realized gold price - Mount Milligan - Royal Gold508 351 Average realized gold price - Third party1,782 1,540 Average realized gold price - Mark-to-market adjustments(28)(22)Average realized gold price - Final pricing adjustments(86)134 Average realized gold price - Final metal adjustments53 29 Average realized gold price - Mount Milligan - Third party1,721 1,681 Average realized gold price - Mount Milligan - Combined1,291 1,213 Average realized sales price for gold - Consolidated1,627 1,487 Average realized sales price for Copper - Mount MilliganThe average realized copper price per pound is calculated by dividing copper sales revenue, together with the final pricing adjustments, impact of reduced metal prices resulting from the Mount Milligan Streaming Arrangement, the impact of copper hedges and mark-to-market adjustments by the pounds sold, as shown in the table below: Average realized sales price for Copper - Mount MilliganThree months ended March 31, 2021 2020 Copper sales reconciliation ($ millions) Copper sales related to cash portion of Royal Gold stream2.5 1.4 Mark-to-market adjustments on Royal Gold stream1.1 0.4 Final adjustments on sales to Royal Gold(2.8)0.3 Total copper sales under Royal Gold stream0.8 2.1 Copper sales to third party customers71.0 40.7 Mark-to-market adjustments(13.6)(4.8)Final pricing adjustments7.6 (1.0)Final metal adjustments(0.1)(0.2)Total copper sales to third party customers64.9 34.7 Copper sales, net of adjustments65.7 36.8 Refining and treatment costs(3.8)(3.8)Copper sales61.9 33.0 Pounds of copper sold (000's lbs) Pounds sold to Royal Gold4,271 3,839 Pounds sold to third party customers18,511 16,585 Total pounds sold22,783 20,423 Average realized sales price for copper on a per pound basis Copper sales related to cash portion of Royal Gold stream0.57 0.37 Mark-to-market adjustments on Royal Gold stream0.25 0.11 Final pricing adjustments on Royal Gold stream(0.65)0.07 Average realized copper price - Royal Gold0.19 0.55 Average realized copper price - Third party3.84 2.45 Average realized copper price - Mark-to-market adjustments(0.73)(0.29)Average realized copper price - Final pricing adjustments0.41 (0.06)Average realized copper price - Metal pricing adjustments(0.01)(0.01)Average realized copper price - Third party3.51 2.09 Average realized copper price - Combined2.72 1.61 Qualified Person & QA/QC – Non-Exploration (including Production information) The production information and other scientific and technical information presented in this document, including the production estimates were prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101 and were prepared, reviewed, verified, and compiled by Centerra’s geological and mining staff under the supervision of Slobodan (Bob) Jankovic, Professional Geoscientist, member of the Association of Professional Geoscientists of Ontario (APGO) and Centerra’s Senior Director, Technical Services, who is a qualified person for the purpose of NI 43-101. Unless otherwise noted below, sample preparation, analytical techniques, laboratories used and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs are used. The Kumtor deposit is described in a NI 43-101 technical report dated February 24, 2021 (with an effective date of July 1, 2020) and filed on SEDAR at www.sedar.com. The technical report describes the exploration history, geology, and style of gold mineralization at the Kumtor deposit. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used are described in the technical report. The Mount Milligan deposit is described in a NI 43-101 technical report dated March 26, 2020 and filed on SEDAR at www.sedar.com. The technical report describes the exploration history, geology, and style of gold mineralization at the Mount Milligan deposit. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs. The Öksüt deposit is described in a NI 43-101 technical report dated September 3, 2015 and filed on SEDAR at www.sedar.com. The technical report describes the exploration history, geology, and style of gold mineralization at the Öksüt deposit. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs. Centerra Gold Inc.Condensed Consolidated Interim Statements of Financial Position March 31, December 31, (Unaudited) 2021 2020 (Expressed in thousands of United States Dollars) Assets Current assets Cash and cash equivalents $ 823,233 $545,180 Amounts receivable 106,380 66,108 Inventories 541,954 580,587 Assets held-for-sale - 140,005 Other current assets 44,187 40,961 1,515,754 1,372,841 Property, plant and equipment 1,724,215 1,686,067 Reclamation deposits 53,056 47,083 Other assets 35,042 30,018 1,812,313 1,763,168 Total assets $ 3,328,067 $3,136,009 Liabilities and Shareholders' equity Current liabilities Accounts payable and accrued liabilities $ 246,080 $232,704 Revenue-based tax payable 15,006 5,073 Income tax payable 6,760 2,474 Liabilities held-for-sale - 2,255 Other current liabilities 28,466 15,322 296,312 257,828 Deferred income tax liability 52,263 39,473 Provision for reclamation 337,656 351,149 Other liabilities 17,805 21,541 407,724 412,163 Shareholders' equity Share capital 980,193 975,122 Contributed surplus 29,530 30,601 Accumulated other comprehensive income 9,953 11,600 Retained earnings 1,604,355 1,448,695 2,624,031 2,466,018 Total liabilities and Shareholders' equity $ 3,328,067 $3,136,009 Centerra Gold Inc. Condensed Consolidated Interim Statements of Earnings and Comprehensive Income Three months ended March 31,(Unaudited)2021 2020 (Expressed in thousands of United States Dollars) (except per share amounts) Revenue $ 401,853 $378,791 Cost of sales Production costs 169,718 169,380 Depreciation, depletion and amortization 72,855 73,022 Standby costs - 6,764 Earnings from mine operations 159,280 129,625 Revenue-based taxes 24,587 35,105 Exploration and development costs 9,314 9,503 Corporate administration 4,947 3,446 Care and maintenance expense 6,432 6,788 Reclamation (recovery) expense (10,867) 26,440 Other operating expenses 5,848 14,299 Earnings from operations 119,019 34,044 Gain on sale of Greenstone Partnership (72,274) - Other expenses 2,501 7,570 Finance costs 1,765 3,601 Earnings before income tax 187,027 22,873 Income tax expense 19,600 2,865 Net earnings $ 167,427 $20,008 Other Comprehensive Income Items that may be subsequently reclassified to earnings: Net gain (loss) on translation of foreign operation $ 31 $(2,956) Net loss on derivative instruments (1,678) (7,307)Other comprehensive income (loss) (1,647) (10,263)Total comprehensive income $ 165,780 $9,745 Basic earnings per share $ 0.57 $0.07 Diluted earnings per share $ 0.55 $0.06 Centerra Gold Inc. Condensed Consolidated Interim Statements of Cash Flows Three months ended March 31,(Unaudited) 2021 2020 (Expressed in thousands of United States Dollars) Operating activities Earnings from operations $167,427 $20,008 Adjustments for the following items: Depreciation, depletion and amortization 74,344 74,730 Reclamation (recovery) expense (10,867) 26,440 Share-based compensation expense (3,116) (3,239) Finance costs 1,765 3,601 Gain on sale of Greenstone Partnership (72,274) - Settlement of derivatives 5,245 159 Inventory impairment - 7,488 Income tax expense 19,600 2,865 Income taxes (refunded) paid (1,027) 10,864 Other 2,354 381 Cash provided by operations before changes in working capital 183,451 143,297 Changes in working capital (30,303) (22,142)Cash provided by operations 153,148 121,155 Investing activities Property, plant and equipment additions (81,070) (44,134) Proceeds from sale of Greenstone Partnership 210,291 - Decrease in restricted cash 1,619 25,841 Increase in other assets (5,368) (7,218)Cash provided by (used in) investing 125,472 (25,511) Financing activities Debt drawdown - 136,000 Debt repayment - (77,472) Payment of borrowing costs (691) (2,065) Lease payments (2,383) (1,737) Proceeds from common shares issued 2,507 758 Cash (used in) provided by financing (567) 55,484 Increase in cash during the period 278,053 151,128 Cash at beginning of the period 545,180 42,717 Cash at end of the period $823,233 $193,845 The Unaudited Interim Consolidated Financial Statements and Notes for the three months ended March 31, 2021 and Management’s Discussion and Analysis for the three months ended March 31, 2021 have been filed on the System for Electronic Document Analysis and Retrieval (‘SEDAR’) at www.sedar.com, on the Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”) at www.sec.gov/edgar, and are available at the Company’s web site at: www.centerragold.com. Supplementary Information: First Quarter 2021 Exploration Update Exploration activities in the first quarter of 2021 included drilling, surface sampling, geological mapping and geophysical surveying at the Company’s various projects (including earn-in properties), targeting gold and copper mineralization in Canada, Turkey, Finland, USA and the Kyrgyz Republic. Exploration expenditures were $9.3 million in the first quarter of 2021 compared to $7.8 million in the same quarter of 2020. The increase in exploration expenditures was due to a significantly expanded drilling program at the Kumtor mine, drilling approximately 20,000 metres in the first quarter of 2021, as well as the recommencement of drilling activities at Öksüt and Mount Milligan earlier in than the prior period. Kumtor Mine The planned drilling program for 2021 includes 75,000 metres of exploration drilling, which will be focused on priority and high potential targets. Primary targets include various zones in the Central, Southwestern and Sarytor pits where a recently updated Kumtor resource block model, based on enhanced geological modelling and positive drilling results between 2018 and 2020, demonstrated substantial growth in measured, indicated, and inferred resources. As well, inferred SW and NE extensions of the Kumtor Gold Trend, i.e., the Bordoo, Akbel and Petrov targets, will be drill tested. During the first quarter of 2021, exploration drilling programs continued with the completion of 57 diamond drill holes for 17,515 metres, and 20 reverse circulation (“RC”) drill holes for 2,426 metres. Exploration drilling focused on testing zones of sulphide and oxide gold mineralization, at the Koshuluu, Hope, Triangle and Deep Oxide Zones, and on testing the periphery of the Sarytor, Bordoo and Muzdusuu areas and Northeast targets. Central PitIn the Triangle Zone of the Central Pit, four exploration drill holes were completed in the first quarter of 2021 for a total of 666 metres. The drill holes cut several intervals with sulfide gold mineralization, in which gold grades were >1 gram per tonne (g/t). Southwest AreaIn the first quarter of 2021, a total of 24 diamond drill holes were completed in the Southwest area for a total of 8,000 metres. The majority of the drill holes have been completed in the Koshuluu, Deep Oxide and Hope Zones. In the Koshuluu Zone, 15 drill holes were completed for a total of 5,278 metres, between section -110 and section -134 (260 metres), where broad intervals of sulfide gold mineralized rocks, which belong to Unit 2, were intersected. Selected significant intercepts from the Koshuluu Zone are reported below: D2102205.5 metres @ 0.93 g/t Gold (“Au”) from 160.2 metres including 9.2 metres @ 1.94 g/t Au from 199.7 metres including 4.1 metres @ 2.06 g/t Au from 219.1 metres including 3.2 metres @ 2.16 g/t Au from 233.8 metres including 7.0 metres @ 1.90 g/t Au from 250.1 metres including 29.5 metres @ 1.90 g/t Au from 263.5 metresSW-20-38581.6 metres @ 1.26 g/t Au from 208.5 metres including 15.5 metres @ 2.52 g/t Au from 250.0 metres including 9.8 metres @ 2.61 g/t Au from 279.3 metresSW-20-389A27.3 metres @ 1.69 g/t Au from 228.6 metres including 7.3 metres @ 3.5 g/t Au from 238.5 metres 74.7 metres @ 0.81 g/t Au from 267.0 metres including 6.5 metres @ 1.63 g/t Au from 267.0 metres including 7.4 metres @ 1.66 g/t Au from 306.4 metres including 5.0 metres @ 1.62 g/t Au from 326.9 metresSW-21-40332.8 metres @ 1.19 g/t Au from 260.7 metres including 12.8 metres @ 2.71 g/t Au from 280.7 metres In the Deep Oxide Zone, six drill holes were completed for a total of 2,266 metres. Selected significant intervals from the Deep Oxide Zone are reported below: SW-20-37529.3 metres @ 1.83 g/t Au from 303.4 metres including 4.9 metres @ 3.77 g/t Au from 304.1 metresSW-20-38841.1 metres @ 2.19 g/t Au from 362.5 metres including 13.1 metres @ 4.48 g/t Au from 387.4 metres 65.3 metres @ 1.77 g/t Au from 420.7 metres including 13.6 metres @ 3.66 g/t Au from 443.8 metres 21.7 metres @ 0.43 g/t Au from 497.0 metres including 3.6 metres @ 0.91 g/t Au from 501.7 metresSW-21-396A57.4 metres @ 3.25 g/t Au from 494.0 metres including 19.1 metres @ 6.72 g/t Au from 499.7 metresSW-21-40922 metres @ 0.73 g/t Au from 372.0 metres including 8.0 metres @ 1.5 g/t Au from 372.0 metres 10.7 metres @ 1.7 g/t Au from 402.8 metres including 4.6 metres @ 3.67 g/t Au from 408.9 metres In the Hope Zone, three drill holes were completed for a total of 456 metres. Results from recent drilling have confirmed a zone of lens-shaped oxide gold mineralization. This mineralization extends along the hanging wall of the Kumtor Lower Thrust for more than 400 metres. Maximum thickness of the oxide gold mineralization is around 20 metres. Selected significant intervals from Hope Zone are reported below: SW-21-4125.6 metres @ 1.83 g/t Au from 87.4 metres 20.5 metres @ 1.2 g/t Au from 161.5 metres including 8.8 metres @ 2.67 g/t Au from 161.5 metres Muzdusuu AreaEight diamond drill holes were completed in the Muzdusuu Area for a total of 1,369 metres. Drilling in the Muzdusuu Area (outside Central Pit) is designed to explore for oxide and mixed gold mineralization along the Kumtor Lower Thrust. Gold mineralization has been traced in both the northeast and southwest directions, which demonstrates continuity and a substantial volume under the ultimate Central pit. Selected significant intercepts from Muzdusuu Area are reported below: DM209257.5 metres @ 0.90 g/t Au from 38.4 metres including 15.1 metres @ 1.83 g/t Au from 63.0 metresDM210055.0 metres @ 1.02 g/t Au from 6.3 metres including 19.7 metres @ 2.09 g/t Au from 26.4 metresDM21079.0 metres @ 8.81 g/t Au from 18.8 metres 11.4 metres @ 0.39 g/t Au from 33.1 metres including 3.9 metres @ 0.88 g/t Au from 33.1 metresDM211145.1 metres @ 0.97 g/t Au from 0 metres including 8.5 metres @ 1.98 g/t Au from 36.6 metres 11.5 metres @ 0.55 g/t Au from 79.4 metres including 4.5 metres @ 1.11 g/t Au from 86.4 metres Sarytor AreaIn the first quarter of 2021, a total of six diamond drill holes were completed in the Sarytor area for a total of 1,557 metres. Several drill holes have intersected significant sulfide gold mineralization, they are listed below: SR-20-37248.7 metres @ 3.60 g/t Au from 225.6 metres including 13.7 metres @ 7.31 g/t Au from 234.2 metresSR-20-38142.8 metres @ 3.05 g/t Au from 330.2 metres including 4.1 metres @ 6.15 g/t Au from 341.9 metres including 3.0 metres @ 7.72 g/t Au from 364.0 metresSR-21-39037.4 metres @ 3.16 g/t Au from 348.2 metres including 11.1 metres @ 6.42 g/t Au from 371.5 metresSR-21-40242.7 metres @ 1.86 g/t Au from 320.1 metres including 8.0 metres @ 3.96 g/t Au from 332.0 metres Bordoo AreaIn the first quarter of 2021, a total of nine diamond drill holes were completed in the Bordoo area for a total of 3,541 metres. A few drill holes had minor intersections with sulfide gold mineralization. Selected significant intercepts are reported below: BR-21-398B10.4 metres @ 0.63 g/t Au from 382.6 metres including 4.0 metres @ 1.38 g/t Au from 385.4 metres 9.8 metres @ 1.61 g/t Au from 401.2 metres including 3.8 metres @ 3.65 g/t Au from 404.7 metres Airport AreaIn the first quarter of 2021, twelve RC drill holes were completed in the Airport area for a total of 600 metres. No significant gold mineralization has been intersected at the time of this report. The above mineralized intercepts were calculated using a cut-off grade of 1.0 g/t Au for sulfide and 0.1 g/t Au for oxide gold mineralization, minimum interval of 4.0 metres and a maximum internal dilution interval of 5.0 metres. The true widths for sulfide gold mineralized intervals reported represent approximately 70 to 95% of the stated down hole interval. Significant assay intervals reported for oxide gold mineralization represent apparent widths due to the uncertainty of the nature of the mineralization at the time of reporting. Drill collar locations and associated graphics are available at the following link: http://ml.globenewswire.com/Resource/Download/ebc019dc-6dc1-46a5-a948-2fde2391fd4f A full listing of the drill results, drill hole locations and plan map (including the azimuth, dip of drill holes, and depth of the sample intervals) for the Kumtor Mine have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and are available at the Company’s web site at www.centerragold.com. Mount Milligan Mine The 2021 exploration drilling program at Mount Milligan Mine includes 20,000 metres of planned brownfield drilling (~50 drill holes) and 4,200 metres of planned greenfield drilling (~nine drill holes). Primary targets include zones below the current ultimate pit boundary (MBX Deep) and on the eastern margin of the pit (Great Eastern Fault) where positive drilling results were returned in 2019 and 2020. Mount Milligan Brownfield Drilling and ExplorationExploration drilling resumed in the first quarter of 2021, with seven diamond drill holes completed totaling 2,395 metres. Of these, four drill holes (1,265 metres) were part of the Southern Star zone in-fill drilling program designed to increase confidence in models prior to mining. Three drill holes (1,130 metres) were completed in the MBX Deep zone, an exploration target in the central portion of the deposit, below the current ultimate pit boundary. The MBX Deep drilling is testing for a potential corridor of high grade (>0.7% Copper Equivalent) mineralization underlying the MBX composite stock. During the first quarter of 2021, assay results were returned for 25 drill holes completed in 2020 and 2021. These include significant mineralization from the DWBX zone and Zone-4 in the northwestern margin of the pit, the King Richard zone in the western margin of the pit, and the Southern Star zone within and along the southwestern margin of the pit. The first assays returned from the MBX Deep zone (drill hole 21-1301) show wide intercepts of significant mineralization below the 2020 ultimate pit boundary, and extend the zone intersected in drill hole 20-1269 to the south-southwest up to 65 metres. Selected significant intersections are reported below: DWBX Zone (northwestern margin of the pit) 20-126637.0 metres @ 0.12 g/t Au, 0.17% Cu from 116.0 metres78.9 metres @ 0.21 g/t Au, 0.22% Cu from 167.0 metres20-1290128.0 metres @ 0.30 g/t Au, 0.12% Cu from 266.0 metres 31.4 metres @ 0.37 g/t Au, 0.21% Cu from 530.0 metres MBX Deep Zone (central portion of the pit) 21-1301237.54 metres at 0.48 g/t Au, 0.26% Cu from 3.66 metres, including 17.68 metres @ 1.29 g/t Au, 0.34% Cu from 48.46 metres Zone-4 (northwestern margin of the pit) 20-1257 26.0 metres @ 0.79 g/t Au, 0.02% Cu from 514.0 metres including 1.9 metres @ 3.92 g/t Au, 0.03% Cu from 519.1 metres and 3.9 metres @ 2.39 g/t Au, 0.02% Cu from 529.0 metres King Richard (western margin of the pit) 20-1270 31.0 metres @ 0.51 g/t Au, 0.10% Cu from 51.0 metres including 2.0 metres @ 1.27 g/t Au, 0.04% Cu from 54.4 metres and 5.5 metres @ 1.61 g/t Au, 0.08% Cu from 70.0 metres Southern Star (southwestern margin of the pit) 20-1288 64.0 metres @ 0.26 g/t Au, 0.20% Cu from 189.0 metres 25.0 metres @ 0.31 g/t Au, 0.22% Cu from 363.0 metres 32.5 metres @ 0.18 g/t Au, 0.19% Cu from 439.0 metres21-129755.8 metres @ 0.25 g/t Au, 0.27% Cu from 42.2 metres 26.3 metres @ 0.25 g/t Au, 0.36% Cu from 137.8 metres Significant intersections at Mount Milligan are generally hosted in andesite or latite volcaniclastic rocks, narrow monzonite porphyry units or larger stocks (hangingwall and footwall margins), or hydrothermal breccia units, and can be proximal to fault structures and related breccia/fracture zones. Early-stage alteration is variably potassic (magnetite bearing) and inner-propylitic (albite bearing) with early-stage gold-copper mineralized veins. This assemblage is variably overprinted by quartz-sericite-pyrite-carbonate (QSPC) alteration with associated transitional- to late-stage pyrite rich veins. The overprinting QSPC assemblage can be grade enhancing, particularly for gold, and is the predominant assemblage in parts of the deposit. The assays returned from the Southern Star and DWBX zones along the western pit walls show an extension of low-grade porphyry Au-Cu mineralization associated with monzonite porphyry and magmatic-hydrothermal breccias continuing to the west of the current pit wall and below the ultimate pit boundary. Intervals of high gold-low copper mineralization (Zone-4 and King Richard zones) have of up to 10% transitional pyrite ± chalcopyrite stringers, veins, and semi-massive late-stage pyrite-calcite veins. The above mineralized intercepts were calculated using a cut-off grade of 0.1 g/t Au and a maximum internal dilution interval of 4 metres. Asterisk (*) indicates preliminary result for Cu. Significant assay intervals reported represent apparent widths due to the undefined geometry of mineralization in this zone, relationship between fault blocks, and conceptual nature of the exploration target. Drill collar locations and associated graphics are available at the following link: http://ml.globenewswire.com/Resource/Download/ebc019dc-6dc1-46a5-a948-2fde2391fd4f A full listing of the drill results, drill hole locations and plan map (including the azimuth, dip of drill holes, and depth of the sample intervals) for the Mount Milligan Mine have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and are available at the Company’s web site at www.centerragold.com. Öksüt Mine At the Öksüt mine, all of the outstanding assay results from the fourteen drill holes completed at the end of the last quarter of 2020 were received. The assay results returned significant intercepts at the Keltepe, Güneytepe, and Keltepe North deposits. The intercepts warrant additional infill drill holes to convert inferred material into indicated/measured within both the Keltepe and Güneytepe resource pit shells and indicated the extension of Keltepe North mineralization further to the northeast. The 2021 drilling program commenced in the first quarter with infill and geotechnical drilling programs at Keltepe. About 1,000 metres were drilled in five drill holes. The 2021 drilling program includes 26,000 planned metres focusing on: expanding the gold resources at Keltepe and Güneytepe main mineralized zones,developing the Keltepe N/NW oxide gold satellite resources,targeting geochemical gold and geophysical anomalism which has not been tested before, anddeeper sulphide gold and supergene copper mineralization potential. Also in the quarter, four samples were collected from Güneytepe and one from Keltepe sulphide gold zones and were dispatched to a third party for detailed metallurgical studies including mineralogy, diagnostic heap leach, and flotation testing. The metallurgical tests are expected to be completed in the third quarter of 2021. The selected significant intercepts for the outstanding assays from the fourth quarter of 2020 and the recent assays from the first quarter of 2021 are reported below: Keltepe (resource upgrade and expansion of oxide gold) ODD046292.9 metres @ 2.63 g/t Au from the bottom of the pit including 33.5 metres @ 4.07 g/t Au from 0.5 metresODD046418.5 metres @ 0.43 g/t Au from 100.5 metresODD046840.4 metres @ 0.59 g/t Au from 149.6 metres ODD0470 96.2 metres @ 0.89 g/t Au from 130 metres including 11 metres @ 2.58 g/t Au from metres Güneytepe (testing resource expansion of oxide and sulphide gold) ODD045578 metres @ 0.55 g/t Au from 110 metres including 12.2 metres @ 1.27 g/t Au from 148 metres (sulphide gold) Keltepe North (testing oxide gold expansion) ODD045774.2 metres @ 0.41 g/t Au from 117.9 metres ODD046133 metres @ 0.38 g/t Au from 194 metres The above mineralized intercepts were calculated using a cut-off grade of 0.2 g/t Au and a maximum internal dilution interval of 5 metres. The true widths of the mineralized intervals reported represent approximately 60 to 90% of the stated downhole interval. Drill collar locations and associated graphics are available at the following link: http://ml.globenewswire.com/Resource/Download/ebc019dc-6dc1-46a5-a948-2fde2391fd4f A full listing of the drill results, drill hole locations and plan map (including the azimuth, dip of drill holes, and depth of the sample intervals) for the Öksüt Gold Mine have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and are available at the Company’s web site at www.centerragold.com. Other Projects Turkey Sivritepe ProjectPhase-2 diamond drilling commenced on the Sivritepe East licence late in Q1. The planned 5,000 metres 2021 drilling program is designed to follow up on last year’s results and to target the remaining geochemical and geophysical anomalies. Significant drill assays from the 2021 drilling program include: Sivritepe East STE00525.8 metres @ 0.66 g/t Au from 58.0 metres38.0 metres @ 3.03 g/t Au from 99.0 metres including 5.0 metres @ 18.65 g/t Au from 132.0 metres Qualified Person & QA/QC – Exploration Exploration information and related scientific and technical information in this document regarding the Kumtor mine were prepared in accordance with the standards of National Instrument 43-101 (“NI 43-101”) and were prepared, reviewed, verified and compiled by Boris Kotlyar, a member with the American Institute of Professional Geologists (AIPG), Chief Geologist, Global Exploration with Centerra, who is the qualified person for the purpose of NI 43-101. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are done as described in the Kumtor Technical Report dated February 24, 2021 (with an effective date of July 1, 2020) prepared in accordance with NI 43-101. The Kumtor deposit is described in the 2020 Annual Information Form and the Kumtor Technical Report, which are both filed on SEDAR at www.sedar.com. Exploration information and related scientific and technical information in this document regarding the Mount Milligan mine were prepared in accordance with the standards of NI 43-101 and were prepared, reviewed, verified and compiled by Cheyenne Sica, Member of the Association of Professional Geoscientists Ontario, Exploration Manager at Centerra’s Mount Milligan mine, who is the qualified person for the purpose of NI 43-101. Sample preparation, analytical techniques, laboratories used, and quality assurance quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs are used. The Mount Milligan deposit is described in the 2020 Annual Information Form and a technical report dated March 26, 2020 (with an effective date of December 31, 2019) prepared in accordance with NI 43-101, both of which are available on SEDAR at www.sedar.com. Exploration information and related scientific and technical information in this document regarding the Öksüt mine and the Sivritepe Project were prepared, reviewed, verified and compiled in accordance with NI 43-101 by Mustafa Cihan, Member of the Australian Institute of Geoscientists (AIG), Exploration Manager Turkey at Centerra’s Turkish subsidiary Centerra Madencilik A.Ş., who is the qualified person for the purpose of NI 43-101. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs are used. The Öksüt deposit is described in Centerra’s 2020 Annual Information Form and in a technical report dated September 3, 2015 (with an effective date of June 30, 2015) prepared in accordance with NI 43-101, both of which are available on SEDAR at www.sedar.com. For more information: John W. Pearson Vice President, Investor Relations Centerra Gold Inc. (416) 204-1953 john.pearson@centerragold.com Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.

2021-05-11 - Yahoo! Finance: PTU.V News

Purepoint Uranium Group Inc.: Hook Lake JV Project Update

Purepoint Uranium Group Inc. (TSXV: PTU) (Purepoint or the Company) today provided an update of this winter's exploration program at the Hook Lake Project, a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) and Purepoint (21%) in the Patterson Uranium District, Saskatchewan Canada. The Hook Lake Project lies on the southwestern edge of Saskatchewan's Athabasca Basin and is adjacent to and on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R deposit and NexGen's Arrow deposit.

2021-05-11 - Yahoo! Finance: CG.TO News

Centerra Gold, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 11, 2021 / Centerra Gold, Inc. (NYSE:CGAU) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 11, 2021 at 8:30 AM Eastern Time.

2021-05-11 - Yahoo! Finance: BYN.V News

Banyan Gold Powerline Mineralization Expansion Continues, Including 0.75 G/T Gold Over 45.2 Metres, Aurmac Property, Yukon

VANCOUVER, BC / ACCESSWIRE / May 11, 2021 /Banyan Gold Corp. (the Company or Banyan) (TSXV:BYN) is pleased to announce the results from the next four diamond drill holes received from the 2021 exploration program on the AurMac Property, Yukon.

2021-05-11 - Yahoo! Finance: IMR.V News

iMetal Provides Gowganda West Exploration Update

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - iMetal Resources, Inc. (TSXV: IMR) (OTC Pink: ADTFF) (FSE: A7V2) (iMetal or the Company) is pleased to provide an update on exploration activities at its flagship Gowganda West property in the Shining Tree District of the Abitibi Greenstone Gold Belt of Northern Ontario. The Riverside Resources Inc. (TSXV: RRI) technical team spent 10 days on site reviewing the main mineralized structures and drill core from ...

2021-05-11 - Yahoo! Finance: AMY.V News

American Manganese Advisory Board Member Dan McGroarty Appointed to U.S. Department of Energy's Critical Materials Institute Advisory Board

SURREY, BC / ACCESSWIRE / May 11, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) (AMY or the Company) is pleased to announce that Dan McGroarty, American Manganese Advisory Board member, has been appointed as one of three private-sector members of the U.

2021-05-11 - Yahoo! Finance: MXR.V News

Max Resource Significantly Expands the CONEJO Copper-Silver Zone at CESAR North, Colombia

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) (Max or the Company) is pleased to report new assay results increasing the area of the CONEJO Zone by 500% at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figure 2).The latest set of assays expands the CONEJO copper-silver zone to an area covering 3.2-km by 1.6-km. The CONEJO ...

2021-05-11 - Yahoo! Finance: ELR.TO News

Eastern Platinum Limited Provides PGM Production and Underground Mine Design Updates

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (Eastplats or the Company) is pleased to report the Company has dispatched 199.8 dry tons of platinum group metal (PGM) concentrates containing 490.9 oz of PGMs under the offtake agreement with Impala Platinum Limited, within the production month of April 2021. This marks the first full month of PGM production following the recent completion of the reconfiguration ...

2021-05-11 - Yahoo! Finance: AEX.V News

Annual Report, Notice of Meeting and Directorate Changes

TORONTO, ON / ACCESSWIRE / May 11, 2021 / AEX Gold Inc. (AEX or the Corporation) (TSXV:AEX), announces that it intends to post its Annual Report and Financial Statements for the year ended December 31, 2020 and Notice of Annual and Special General Meeting of Shareholders and Management Information Circular to shareholders today.

2021-05-11 - Yahoo! Finance: PRU.TO News

Perseus Mining Strengthens Board With New Appointment

PERTH, Western Australia, May 10, 2021 (GLOBE NEWSWIRE) -- Perseus Mining Limited (“Perseus” or the “Company”) (TSX &ASX: PRU) is pleased to announce that it has strengthened its board of Directors and simultaneously improved gender diversity on the Board with the appointment of Ms Amber Banfield to the role of Non-Executive Director with effect from May 12, 2021. Amber holds a Bachelor of Engineering (Environmental and Civil) degree and a Master of Business Administration, both awarded by the University of Western Australia. Amber has agreed to assume the role of Chairperson of the Board’s Audit and Risk Committee and will assume specific responsibility for oversight of the Company’s Sustainability (ESG) function. Amber is currently a senior executive with Worley, the world’s largest energy and resources engineering services provider with 48,000 employees across 49 countries globally. Until December 2020, Amber held the role of Global Strategy Director where amongst other things she was responsible for developing and implementing a company-wide Energy Transition strategy to grow decarbonizing businesses including hydrogen and renewables. Amber’s current role is that of Global Manager - Mergers and Acquisition for Worley based in their Perth Office. With Amber’s appointment, the Board of Perseus will be comprised of seven directors, six of whom will be Non-Executive directors. In terms of gender balance, two of Perseus’s directors are women representing approximately 30% of directors. Perseus’s Managing Director and Chief Executive Officer, Mr Jeff Quartermaine said: “Speaking on behalf of our Chairman Sean Harvey and the entire Board of Perseus, it is a pleasure to welcome non-executive Director, Amber Banfield, to the Board of Perseus. Amber brings a combination of highly relevant commercial and technical experience to Perseus gained over 20 years as an executive with Worley, a world leader in the provision of engineering services. Outside of her professional career, Amber also serves on the Board of the Western Australian Football Commission, is responsible for the governance of Australian football in WA. As a board and management team, we look forward very much to working with Amber as we collectively strive to firmly establish Perseus as a profitable, reliable and sustainable mid-tier gold mining company.” For further information, please contact: Managing Director:Jeff Quartermaine at telephone +61 8 6144 1700 or email jeff.quartermaine@perseusmining.com; Media Relations:Nathan Ryan at telephone +61 4 20 582 887 or email nathan.ryan@nwrcommunications.com.au (Melbourne)

2021-05-11 - Yahoo! Finance: BRZ.V News

Minera Salar Blanco, Agrees Strategic Alliance with Mitsui for the Development of Maricunga and Future Developments in Chile

VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture: BRZ) (OTCQB:BLILF) is pleased to provide an update as announced by Minera Salar Blanco (“MSB”). __________________________________________________________________________________ The Alliance includes off-take, funding rights and further strategic collaboration for new lithium developments in Chile. _______________________________________________________________________________ MSB is pleased to announce that it has entered into a non-binding Memorandum of Understanding (the “MOU”) with the Japanese conglomerate Mitsui & Co., Ltd., (“Mitsui”) to set up a strategic alliance to advance the development of the Maricunga project (the “Project”). The MOU intends to create a partnership of the Project. The MOU also addresses the development of the Chilean lithium industry, by partnering to introduce other leading edge efficient and environmentally friendly technologies for processing. The strategic alliance includes potential off-take and funding rights for the Stage One of the Project; potential participation, off-take and funding rights for future expansions of the Project, and further strategic collaboration for new developments in Chile, based on new technology related to direct lithium extraction (the “DLE”) currently being studied and tested. In particular, the parties aim to achieve the following goals as a result of such strategic alliance: Off-Take Rights – Mitsui will have the right to purchase up to 15,000 tonnes annually of high purity lithium carbonate battery grade production from the Stage One of the Project for 10 years, extendable for 2 consecutive 5 years periods. The parties will agree on a price structure and terms of the off-take in a later stage, in order to be sufficiently bankable to support’s MSB’s debt funding requirements.The parties will leverage Mitsui’s considerable global logistics and battery materials marketing expertise on the distribution of the products. Right to Participate in Funding of Maricunga’s Stage One – Mitsui will have the right to participate directly in the funding of the Stage One of the Project. The parties will consider an optimized funding structure through a combination of equity-like and debt-like options.Participation in Future Expansions, Off-Take and Funding Rights – Subject to the parties agreeing to a financing proposal where Mitsui provides a relevant portion of the necessary funding of the capital expenditures required for the future expansion of the Project, Mitsui will have the first option for an off-take agreement to purchase a relevant portion of the future production of the expansion.MSB will use its best efforts to utilize new technology related to the DLE currently being studied and tested by Mitsui’s technical partners. Further Strategic Collaboration – MSB will collaborate with Mitsui for the development of other lithium related businesses in the country by introducing efficient and environmentally friendly processing technologies. In this context, MSB will commit to collaborate with Mitsui and its technical partner to facilitate the development and testing of the DLE technology at the Maricunga Salar, and provide a broader platform for the promotion of this technology. Terms and details of the definitive agreements will be finalised after completion of all necessary due diligence and transaction structuring and subject to each party’s internal approval. Minera Salar Blanco’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented: “We are incredibly pleased to have reached a mutually beneficial MOU with Mitsui. The MOU is comprehensive, and it sets a framework for the Stage One of the Project development to proceed with the backing of a world-renowned partner. We look forward to finalising the definitive agreements with Mitsui and working with them on mutually beneficial lithium projects and positive outcomes for the Chilean lithium industry. About Minera Salar Blanco (MSB) MSB is the owner of a lithium and potash project in Chile’s III Region, at the Maricunga Salar, which is in a very advance stage of development, having received its environmental approval on February 4th, 2020 by the Chilean authorities (Resolution #94) and with its definitive feasibility study released in January 2019, now being updated. The Project is in its first stage denominated the “Stage One” with a nameplate capacity of 15,000 annual tonnes of high purity lithium carbonate (the “Products”) over a 20-year mine life. It also provides significant future expansion potential from subsequent stages to be developed over the other part of the mining concessions owned by MSB. About Mitsui & Co. Ltd Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. About Bearing Lithium Corp. Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.35% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 60 million has been invested in the Maricunga Project. All Project Expenditures through to the delivery of a Definitive Feasibility Study in January 2019 have been fully funded by the 51% earn-in joint-venture partner, Lithium Power International. ON BEHALF OF THE BEARING LITHIUM BOARDSigned Gil Playford”Gil Playford, Chairmangplayford@bearinglithium.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. Cautionary Statements Regarding Forward Looking Information 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, without limitation, statements relating the future operating or financial performance of the Company, 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.. Actual future results may differ materially. 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 times. Except as required by law, 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 law.

2021-05-11 - Yahoo! Finance: NTR.TO News

Potash/grains: prices out of sync with fundamentals

The rising tide of commodity prices is lifting the ricketiest of boats. Its share price has gone back above pre-pandemic levels. Demand for agricultural commodities has pushed prices for corn and soyabeans from decade lows to near decade highs in less than a year.

2021-05-10 - Yahoo! Finance: BTT.V News

Bitterroot Resources Closes C$1,195,000 Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / May 10, 2021 / Bitterroot Resources Ltd.'s (TSXV:BTT) management announces that further to its press releases dated April 27, 2021 and May 3, 2021, the Company has closed an oversubscribed non-brokered private placement of 11,195,000 units of the Company at a purchase price of $0.

2021-05-10 - Yahoo! Finance: ORV.TO News

Orvana Reports Q2 2021 Consolidated Financial Results

Orvana Minerals Corp. (TSX: ORV) (the Company or Orvana) announced today financial and operational results for the second quarter of fiscal 2021 (Q2 2021) and the completion of Taguas Drilling Campaign.

2021-05-10 - Yahoo! Finance: MTB.V News

ExGen Options DOK Property in NW BC Golden Triangle

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to announce that it has signed an option agreement with Mountain Boy Minerals Ltd. (“Mountain Boy”) (TSX.V:MTB) whereby Mountain Boy may earn a 60% interest in the DOK copper-gold porphyry property (the “Option Agreement”), located approximately 40 kilometres southwest of Telegraph Creek, in northwest British Columbia, Canada (the “DOK Property”). The DOK Property consists of approximately 26,365 acres. HIGHLIGHTS: ExGen’s DOK Property is the most advanced and key exploration target in Mountain Boy’s Telegraph project. Compilation of historic results provides evidence of large-scale copper-gold porphyry potential. PROPERTY DETAILS The DOK Property was first explored in the early 1970s with a focus on copper. That work identified numerous copper showings and outlined a substantial copper-in-soil geochemical anomaly referred to as the Main target, 1,200 meters by 850 meters. Geophysical surveys in later years identified coincident anomalies. The Main target was tested with five drill holes in 1971, totaling 817 metres and two drill holes in 2014, totaling 835 metres. The drilling demonstrated that the system hosts copper and gold mineralization. Results from 2014 include 0.327% Cu, 0.13 g/t Au and 1.92 g/t Ag over 18.3m. and 0.113% Cu, 0.06 g/t Au and 1.64 g/t Ag over 54.9 m. Both of these holes contain broader intervals of lower-grade copper-gold-silver mineralization. In the 2015 assessment report on drilling, Jeffrey D. Rowe and Charles J. Greig state “The presence on the DOK property of broad intervals of low to moderate grade Cu-Au-Ag stockwork-style mineralization in drill holes, extensive soil geochemical anomalies and coincident magnetic and IP chargeability highs, within areas of potassically-altered volcanic rocks and syenitic intrusions are all indications of an extensive porphyry-style mineralizing system, within which the potential for discovery of a substantial Cu-Au-Ag deposit remains high. Further exploration work is definitely warranted, (AR35798). For the 2021 exploration program, Mountain Boy plans to advance the project by compiling and ground truthing the voluminous historical data. For the 2022 exploration program, Mountain Boy foresees expanding the soil geochemistry and IP geophysics on the DOK and other identified targets, followed by drilling. OPTION TERMS In order to earn a 60% interest in the DOK Property, Mountain Boy must spend $2,500,000, deliver 1,500,000 shares and pay $230,000 to ExGen. The first-year requirement is $30,000 cash, 300,000 shares and $150,000 of work, with the balance of the earn-in requirements spread over another 4 years. Option Terms – Cash and Share payments owing to ExGen and work spend requirements on the DOK Property DateCashSharesWorkCumulativeWork Closing10,000100,000 15-Jan-2220,000200,000150,000150,000 15-Jan-2320,000200,000500,000650,000 15-Jan-2450,000200,000500,0001,150,000 15-Jan-2560,000200,000600,0001,750,000 15-Jan-2670,000600,000750,0002,500,000 $230,000 1,500,000 $2,500,000 ExGen has substantially completed the earn-in requirements, including all cash payments to the underlying vendors, with the remaining requirement being a further work expenditure on the Property of $500,000 before April 30, 2025 (to hold a 100% interest) subject to a 3% royalty payable to the vendors in the underlying agreement, with ExGen retaining the sole right to purchase 2% of the vendors NSR Royalty.