Antler Gold Provides Namibian Exploration Update and Highlights Ongoing Progress

Antler Gold Inc. (TSXV: ANTL) ("Antler" or "Company") is pleased to provide a corporate update, emphasizing its commitment to a diversified business model that generates both short and long-term revenue opportunities.

Highlights

New license for the prospective Paresis Gold Project issued, located in northern Namibia within the 'gold corridor' that hosts the Otjikoto (B2Gold), Ondundu and recently discovered Eureka gold deposits (Osino Resources).
New license issued on the Onkoshi Gold Project in central Namibia bordering to the south-east of the known Erindi and Vredelus gold prospects.
New license issued for the Ziggy Cu Project in southern Namibia with historical grab sample grading 13% Cu.

"Antler's project generation strategy has yielded tangible results, which have translated into successful option and purchase agreements, resulting in not only financial gains but also potential valuable royalty and equity interests. Our geologists remain engaged in evaluating prospects across Southern Africa, securing a pipeline of opportunities for future exploration partnerships. Looking ahead for the rest of 2023, our priority lies in bolstering our project portfolio, while advancing existing joint ventures and reinforcing our commitment to expanding our current offerings," said Christopher Drysdale, CEO of Antler Gold Inc.

Exploration Summary

Paresis Gold Project, Namibia

The Paresis Gold Project (PGP) licences lie within the 'gold corridor' that hosts the Otjikoto (B2Gold), Ondundu (0.9 Moz @ 1.13 g/t), and recently discovered Eureka gold deposits (Osino Resources). The PGP is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. These deposits share an Au-Bi-Te-As metal signature and an association with post-orogenic intrusions. The presence of three cycles of both volcanic and plutonic events along with structural complexity present optimal conditions for the deposition of rare and precious metals. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

The Paresis Igneous Complex is a Cretaceous-aged (135-120 Ma) alkaline igneous complex (occasionally classified as peralkaline) situated within the Northern Zone (NZ) of the highly fertile Damara Orogenic Belt. Historical exploration conducted by Goldfields, during the late 1980's, targeting epithermal gold associated with caldera structures and anomalous gold values of 100-200 ppb were recorded for units associated with the complex.

Antler is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

The Environmental Clearance Certificate has been issued and exploration can commence on the license. Initial desktop geophysical interpretation of regional airborne magnetic and radiometric data will be done to map the responses of the Damaran bedrock. Soil and calcrete sampling campaigns are also planned for the first phase of the project.

The license holds the same stratigraphic units that host the Otjikoto Gold Mine (B2Gold) and recent Eureka gold discovery (Osino Resources). The license it situated approximated 20 km south-east from the town of Outjo in the Otjozondjupa region (Figure 1).

Figure 1: Map of the location of EPL 8711 within the Paresis Gold Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/180608_9868d5ad94e3286a_001full.jpg

Onkoshi South-East (SE), Namibia

Onkoshi SE is situated on a newly awarded Exclusive Prospecting License, EPL 8991, contiguous with EPL 7464, forming part of the main Onkoshi Gold Project which is an Antler PG project (see Press Release dated April 13, 2022: Antler Gold Announces Agreement to Acquire the Onkoshi Gold Project in Namibia) (Figure 2). The license area holds a target similar to the WIA Gold Kokoseb Gold Project (MRE of 1.3 Moz at 1.0 g/t Au), a granite dome-like feature that presents a potential source of mineralising fluid and heat, along with favourable structural complexity for deposition of precious and rare metals.

The area of interest on the Onkoshi SE licence contains a roughly circular magnetic body, ~6km across, coinciding with syn-tectonic granite intrusives (Salem Igneous Suite) and is situated ~30 km from the historic Erindi and Vredelus gold prospects (EPL 7464). The magnetic body appears to form a potato-like feature around which the Swakop Group metasediments of the Damara sequence are wrapping.

The Onkoshi SE Gold Project is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. The presence of extensive granite plutonism in this area along with potential structural and chemical traps between the granite and metasediments present optimal conditions for the deposition of rare and precious metals. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

An application for an Environmental Clearance Certificate is underway. Initial desktop geophysical interpretation of regional airborne magnetic and radiometric data will be completed as soon as possible. Reconnaissance mapping and rock chip sampling campaigns are planned.

Figure 2: Location of the two Onkoshi Gold Project EPL's, EPL 8991 and EPL 7464.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/180608_9868d5ad94e3286a_002full.jpg

Ziggy Cu Project, Namibia

The Ziggy Cu project is situated on a newly awarded Exclusive Prospecting License, EPL 8937 located in Mooifontein, near Helmeringhausen in southern Namibia. Copper mineralisation on the project is closely linked with a shear zone which is located within amphibolite-grade gneisses of the Namaqualand Metamorphic Complex (Figure 3). The geological setting of the mineralisation at Mooifontein consists of a 10-15 m wide zone of intense structural deformation which can be followed for over 5 km. Quartz veins are associated with the shear zone and define a wider zone of up to 200 m. Numerous massive ironstone pods are contained within the shear zone, while malachite staining is common in zones between 1-2 m wide.

Limited historic exploration work has been done on this prospect and is limited to a few pits and four diamond drill holes drilled in the 1970's which were not sampled. Much of the shear zone, covered by a thin veneer of Nama Group sediments, was never prospected and may host similar mineralised structures which are presently concealed. More recently, in 2008, a historical rock grab sample with noticeable malachite staining taken from the shear zone was submitted for assaying and returned 13% Cu (Figure 4).

To explore this shear zone more comprehensively, fieldwork encompassing mapping, sampling, and ground geophysics is planned, particularly in areas that are underlying younger Nama Group sediments. The license it situated approximately 5 km south-east from the town of Helmeringhausen in the Karas Region.

Figure 3: License location of the Ziggy Cu Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/180608_9868d5ad94e3286a_003full.jpg

Figure 4: Grab sample taken in the shear zone at the Ziggy Cu project - historical assay result of 13%.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/180608_9868d5ad94e3286a_004full.jpg

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on project generation and organic royalty creation in Africa's Top-Ranked Jurisdictions. The Company continues to assess new regional opportunities with the aim of building a diversified business model, that allows the company to generate short and long-term revenue opportunities whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

Historical Sample Results

Historical sample assay results were obtained from previous exploration activities conducted by other entities and may not comply with current standards for quality assurance. While these results provide valuable geological information, they should be treated with caution and not solely relied upon. The Company has not independently verified these historical results, and they are presented here for reference purposes only. The Company plans to conduct its own sampling and analysis to confirm and update the data in compliance with current regulatory requirements.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors: Pr.Sci.Nat., B. Sc (Hons)., Exploration Manager of the Company, who is registered Professional Natural Scientist (Pr.Sci.Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the exploration properties and activities. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. Antler Gold does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedar.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.

For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180608

News Provided by Newsfile via QuoteMedia

Antler Gold ANTL:CC TSXV:ANTL Precious Metals Investing

ANTL:CC

Antler Gold Finalizes the Erongo Gold Project Agreement

Antler Gold Inc. (TSXV: ANTL) ("Antler" or the "Company") is pleased to announce that it has entered the definitive agreement (the "Definitive Agreement") with Fortress Asset Management LLC ("Fortress") for the Erongo Central Gold Project (the "Project") in Namibia.

The previously announced binding letter of intent has now been superseded by the Definitive Agreement, under which Fortress can acquire from Antler Gold Namibia (Proprietary) Limited up to a 100% interest in the Project (the "Transaction"). Under the terms of the Definitive Agreement, Fortress will provide total consideration of US$5.5 million and an additional US$6.0 million for exploration expenditures on the Project over the term of the Definitive Agreement. Additionally, Antler will retain a 2% net smelter return royalty on the entirety of the Project, with no buyback provisions. Antler will act as the operator for the Project during the term.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Antler Gold Provides Update on the Erongo Gold Project Option Agreement

Antler Gold Inc. (TSXV: ANTL) ("Antler" or the "Company") is pleased to provide an update on the expected execution date of the previously announced option agreement with Fortress Asset Management LLC ("Fortress") regarding the Erongo Central Gold Project (the "Project") in Namibia.

As announced on May 23 and 24, 2024, the Company's subsidiary, Antler Gold Namibia (Proprietary) Limited entered into a binding letter of intent dated May 23, 2024 with Fortress (the "LOI"), which allows Fortress to acquire up to a 100% interest in the Project for total consideration of US$5.5 million and incurring US$6.0 million in exploration expenditures, with Antler retaining a 2% net smelter return royalty and acting as the operator for the Project during the three option periods (the "Transaction").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Antler Gold Further Consolidates Land Holdings in the Namibian 'Gold Corridor'

Antler Gold Inc. (TSXV: ANTL) ("Antler" or "Company") is pleased to announce the expansion of its land holding in Namibia. Two additional exploration licenses have been awarded to Antler by the Ministry of Mines and Energy of Namibia, pending issuance of environmental clearance, as well as the renewal of Exclusive Prospecting Licenses EPL-8010 and EPL-6408 (Erongo Central Gold Project).

Highlights

Two newly-awarded licenses, EPL-9134 and EPL-9135, expand the Paresis Gold Project land package to ~812 km² (81,189 ha) within the highly prospective 'gold corridor' of Namibia (Figure 1 and Figure 2).

A gold project with high potential to host gold deposits similar to the Otjikoto Gold Mine (B2Gold), the Ondundu Gold deposit, as well as recent discoveries such as the Eureka Gold Project (Osino Resources) (Figure 1).

Additional potential on EPL-9134 for a Carlin-style gold deposit, referred to as the Victory Gold Target, an area with a large regional-scale thrust fault and numerous base metal (copper, lead and zinc) occurrences indicating a fertile mineral system (Figure 4).

The Erongo Gold Project, EPL-8010 and EPL-6408, bordering the Twin Hills Gold Project (Osino Resources-Yintai Gold Corp.^[i]), has been granted renewal for another two years.

"We are pleased to announce the granting of new licenses, further strengthening Antler's presence in the emerging Damara Gold Province, referred to as the gold corridor of Namibia. With access to roughly 2,000 km² in the Central and Northern Zones of the Damara Belt, Antler is strategically positioned to explore the significant potential of this region. Additionally, the renewal of EPL-8010 and EPL-6408 solidifies our Erongo Gold Project, providing contiguous land adjacent to the Twin Hills Gold Project recently acquired by Yintai Gold Corp. for C$368 million in an all-cash dealⁱ. Our commitment remains in maximizing shareholder value through strategic partnerships and ongoing exploration efforts," said Christopher Drysdale, CEO of Antler Gold Inc.

Figure 1: Antler's land holding relative to in-country peers B2Gold Namibia (pink), Osino Resources Namibia (blue), and WIA Gold (green). Background image: ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_001full.jpg

Paresis Gold Project

The Paresis Gold Project is now made up of EPL-8711 (approx. 21,000 ha) and EPL-9135 (approx. 23,700 ha) situated between the towns of Otjiwarongo and Outjo, and EPL-9134 (approx. 36,400 ha) situated ~7km west of the town Outjo (Figure 2 and Figure 3). The project area is ~300 km from the capital Windhoek, in north central Namibia. Refer to News Releases dated February 5, 2024, and September 14, 2023, for more background on the Paresis Gold Project.

Figure 2: Paresis Gold Project area comprising EPL-8711, EPL-9135 and EPL-9134 (Victory Gold Target) relative to in-country peers B2Gold Namibia (pink), Osino Resources Namibia (blue), and WIA Gold (green).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_002full.jpg

Figure 3: Overview map of the Paresis Gold Project license EPL-8711 and new EPL-9135. Relevant geological units (250K Geology Source: Geological Survey of Namibia) overlain on ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_003full.jpg

Victory Gold Target

The Victory Gold Target is located within the new EPL-9134 (approx. 33,472 ha), situated 7 km west of the town Outjo, in north central Namibia, within the Northern Zone (NZ) and Northern Margin Zone (NMZ) of the Damara Orogenic Belt (Figure 2 and Figure 4). With this conceptual project, Antler is targeting Carlin-type/sediment-hosted disseminated gold in an area that has strong mineralization potential - regional-scale thrust, faults, layered and folded permeable carbonate host rocks, and existing base metal occurrences indicating hydrothermal activity.

Figure 4: Overview map of the new Victory Gold Target on license EPL-9134. Relevant geological units (250K Geology Source: Geological Survey of Namibia) overlain on ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_004full.jpg

The EPL includes two of the tectonostratigraphic zones of the Damara Orogen, namely the NZ, and the NMZ, a narrow zone between the southern edge of the Northern Platform (NP) and the northern edge of the NZ (Miller, 2008)^[ii] (Figure 5). The NZ comprises carbonates, schists and siliciclastics of the Swakop Group, whereas the NMZ comprises deep-water carbonates of the coeval Otavi Group, and siliciclastic rocks of the Mulden Group (Table 1), the highest stratigraphic unit of the Damara Supergroup. Two glacial horizons, i.e. the Chuos and Ghaub diamictites, subdivide the Swakop and Otavi Groups into subgroups (Table 1), providing distinct lithological and geochronological markers, but outcrops of the Chuos within the EPL are poor.

The sequences have been multiply folded and faulted (local and regional-scale) during the Pan-African Damara Orogeny during which the NZ has been thrust northwards onto Otavi, Mulden (NMZ) and pre-Damara rocks along the NE-trending, km-scale, deep-seated regional Khorixas-Gaseneirob Thrust (KGT), marking the edge of the NZ (Miller, 2008).

This deformation history provides ample structural pathways, the right plumbing for superheated gold-bearing hydrothermal fluid channelization up through the crust and into the highly-permeable carbonate host rocks where it is potentially deposited as microscopic gold within pyrite. Gold-bearing hydrothermal fluids also carry arsenic, mercury, antimony and thallium that are important pathfinder elements that will guide exploration.

Both the NZ and NMZ are host to numerous mineral deposits, including in the NZ the Otjikoto Gold Mine (B2Gold), the Ondundu and Eureka Gold Projects (Osino Resources) (Figure 1), the Okanjande Graphite deposit (Northern Graphite), the Okorusu Fluospar Mine, and in the NMZ, the Kombat and Berg Aukas polymetallic deposits, evidencing this geological environment's fertile nature.

Figure 5: Tectonostratigraphic zones of the Damara Orogen (Miller, 2008).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_005full.jpg

Table 1: Stratigraphy of the Victory Gold Project tenement.

Sequence	Group	Subgroup	Formation	Lithology
	Namib		Bertram	Proto-Ugab terrace gravel
Karoo Intrusives				Wolffsgrund Gabbro
Damara Supergroup	Mulden	Navachab		Sandstone, greywacke, conglomerate
	Swakop (NZ)		Kuiseb	Schist
			Karibib	Marble, limestone, schist, quartzite
			Chuos	diamictite, iron-formation
		Ugab	Orusewa	Schist, phyllite
		Ugab	Okotjize	Dolostone, schist, skarn
	Otavi (NMZ)	Tsumeb	Huttenberg	Dolomite
		Tsumeb	Elandshoek	Massive and laminated dolomite
			Ghaub	Diamictite
		Abenab	Auros	Dolomite; minor shale and limestone
			Gauss	Massive dolomicrite
			Berg Aukas	Dolostone
			Chuos	Diamictite; interbedded quartzite, schist and marble
Pre-Damara Basement - Huab Metamorphic Complex				Quartz-mica schist, quartzite, quartz-feldspar gneiss, migmatitic

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on organic royalty creation in Africa's Top-Ranked Jurisdictions. The Company continues to assess new regional opportunities with the aim of building a risk diversified business model, that allows the Company to generate short and long-term income whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors, B.Sc (Hons)., Exploration Manager of the Company, who is a registered Professional Natural Scientist (Pr.Sci.Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) and a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. 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. Futhermore, this information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. 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, Antler Gold does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedarplus.ca.

For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of up to C$3,000,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Prospective investors should read the Offering Document before making an investment decision

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Lode Gold Submits Application for Exchange Approval to Form Spin Co, Gold Orogen - a Yukon & New Brunswick Exploration Company

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has submitted application to the TSX Venture exchange for approval of the Spin-out of Gold Orogen, as described on its August 27, 2024 and October 22, 2024 news release. The details regarding the Lode Gold shareholder's meeting that is expected to be held in early December 2024 will follow with an information circular to be filed by early November 2024. Lode Gold will seek the approval from shareholders on the Plan of Arrangement, and upon Exchange approval, set the Record Date for distribution of the shares of the new company to shareholders of Lode Gold.

The Company also announces that pursuant to a director resolution passed on July 26, 2024, and a special resolution passed by shareholders of the Company on July 6, 2023, the Company has consolidated its capital on a ten for one (10:1) basis. Post-consolidation, the Company's capitalization composes of unlimited common shares with no par value, of which 38,032,970 shares are issued and outstanding.

Effective at the opening, Tuesday October 29, 2024, the common shares of Lode Gold Resources Inc. will commence trading on the TSX Venture Exchange on a consolidated basis. The Company is classified as a mining company.

Name of Company: No change.
Escrow shares: None
Transfer agent: Odyssey Trust Company.
Trading symbol: LOD (unchanged)
CUSIP number: 540196 20 1 (new)

"The Company has been contemplating share consolidation for sometime. With significant milestones achieved in the last 12 months and more upcoming catalysts, it makes strategic sense now to execute the consolidation. A key catalyst upcoming in a few months is share distribution of Gold Orogen to shareholders of Lode Gold, a significant step in unlocking value.

With a tight capital structure we can more effectively attract new investors. Of note, four shareholders hold over 60% shares of 38 million post-consolidated shares." states Wendy T. Chan, CEO and Director of Lode Gold.

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km² across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km². Its McIntyre Brook Project, New Brunswick, covering 111 km² and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)¹ and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km² package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. This transaction will close upon Exchange's acceptance.

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023, PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 MOz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 MOz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned private land in Mariposa, the original Gold Rush County, and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

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.

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the anticipated use of proceeds from the Special Warrant financing, additional proceeds from the exercise of the warrants underlying the Special Warrants, and the receipt of final acceptance from the TSX Venture Exchange with respect to the transactions, are forward-looking statements. Although Lode Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Lode Gold can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Lode Gold's periodic filings with Canadian securities regulators, and assumptions made with regard to: the ability of Lode Gold to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; that the Company will be able to use the proceeds of the Special Warrant financing as anticipated; and the ability of the Company to continue with its stated business objectives and its ability to obtain required approvals and raise additional capital to proceed. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from expectations include risks associated with the business of Lode Gold and Fancamp; risks related to the Company's ability to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; the risk that the use of proceeds from the Special Warrant financing may differ from management's expectations; and other risk factors as detailed from time to time and additional risks identified in the Companies' filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Antler Gold Provides Namibian Exploration Update and Highlights Ongoing Progress

Latest News

Latest Press Releases

Related News

TOP STOCKS