The Conversation (0)
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Heritage Mining Announces Closing of LIFE Offering
VANCOUVER, BC TheNewswire - August 15, 2025 Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that, further to its news release dated July 22, 2025 and August 5, 2025, it has closed the final tranche of the non-brokered listed issuer financing exemption (" LIFE ") private placement of 500,000 units, of the max offering, 18,187,725 units (" Units ") at a price of $0.035 per Unit for gross proceeds of ~C$17,500, of the max offering, C$636,570 (the " Offering ").
A non-brokered "best-efforts basis" LIFE financing of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to $635,570 for units of the Company (each, a " Unit ") at a price of $0.035 per Unit, with each Unit being comprised of one (1) common share of the Company (each a " Common Share ") and one (1) common share purchase warrant (a " Warrant ") granting the holder the right to purchase one (1) additional Common Share of the Company (a " Warrant Share ") at a price of $0.05 at any time on or before 36 months from the Closing Date (as defined herein), which securities shall be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 ").
The Company paid an aggregate ~C$$44,560 in cash commissions and issued an aggregate 1,273,140 compensation options (the " Compensation Options ") in connection with the Offering. Each Compensation Option entitles the holder to acquire one additional Unit at a price of $0.035 for a period of 36 months following the date of issuance.
Proceeds of the Offering will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project and Contact Bay, in addition to general working capital .
"We are very pleased to have closed the final tranche of the LIFE Offering successfully and appreciate the continued support from both new and existing shareholders who share our long-term vision.
With the majority of our results from our 2025 exploration program still outstanding, we look forward to communicating results as they are received." Commented Peter Schloo, President, CEO, and Director of Heritage Mining Ltd.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Peter Schloo, CPA, CA, CFA President, CEO and Director Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
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 risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents,
risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
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Angkor Resources Advances Seismic Program With Enercam's Oil & Gas Block VIII, Cambodia
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GRANDE PRAIRIE, ALBERTA - August 14, 2025 TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces its subsidiary, EnerCam Resources Co. Ltd. (Cambodia) ("EnerCam") is well underway to complete Cambodia's onshore EnviroVibe oil and gas 2-D seismic for Block VIII ("Project").
Mike Weeks, President of EnerCam, comments on the seismic, "We are very pleased to be doing seismic on Block VIII. This technical work leads to defining drill targets, all of which is part of the requirements to prove commercial oil and gas for Cambodia. "
Weeks, having worked in the industry for decades around the globe, adds, "Discovering oil and gas changes a nation because it gives a country independence, recurring revenue, and its own source of national energy. The entire economic activity receives a boost not just from the discovery, but from all the additional service businesses that develop as part of the industry sector."
The quest for EnerCam is to discover Cambodia's first onshore oil and gas, as currently the country imports all of its hydrocarbon-based energy products, spending several billion dollars per year.
EnerCam strives to be drilling the first wells following appropriate interpretation and target definition from the seismic program.
The technical teams continue with additional research in the area concurrently with the seismic. Approached by local residents and business owners as they move from line to line across the targeted seismic area, the geoscience team is witnessing several abandoned water wells where oil has seeped into the well, making the water unusable for domestic use. As well, the team has sourced multiple additional surface oil seeps, adding to the inventory of documented locations of surface oil showings.
The seismic program employs 53 people to execute daily tasks to lay out geophones every four metres across upcoming seismic lines, then add data recorders every 25 metres that connect to the geophones. The pair of EnviroVibe units then pass the prepared line to be shot and sweeps the ground every 50 meters along the line to create ground vibration, and the results of the sound waves are transmitted and recorded. Then all the geophones and data recorders are collected and rotated back into the next cycle for the upcoming lines. Geophones and recorders generally try to stay 24 hours ahead of the Envirovibe units, so the process is efficient and advances in a timely manner.
Keith Edwards, Technical Manager for EnerCam describes the program and the results to date, "We are looking to average about nine kilometers per day, with some short lines taking longer. The initial data looks promising and the methodology and the technology are such that despite the rain, we can sweep an area and receive good quality data."
Interpretation of the data will take place upon completion of the Project, which is estimated to be between mid and the end of September. Between five and six weeks are budgeted as a timeline for interpretation.
Seismic teams are executing 350-line kilometers of two dimensional seismic over four identified sub basins on the west side of the license area and then will move to the newly described ‘mussel basin' on the northeast side of the license.
Click Image To View Full Size
Figure 1 Geophone deployment teams walk the distances where no vehicle access is immediate. Teams use GPS to accurately cover terrain daily to lay out geophones ahead of data recorders and EnviroVibe equipment. Geophones are inserted into the ground every four meters. All landowners grant full permission before any entry is allowed.
Click Image To View Full Size Figure 2 EnviroVibe machines moving down seismic line through privately-owned palm plantation, full access and permission from owner granted in advance.
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Figure 3 Geophone deployment team travels by boat to access the next line area. Vibration units will travel by land, using bridges and roads to position equipment in the sweep zones.
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Click Image To View Full Size
Figures 4 and 4a: Local security are hired to monitor the lines of geophones and data recorders before they are picked up and moved to the next location. Lines are monitored night and day, rain or shine.
ABOUT Angkor Resources CORPORATION:
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions. The company's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII. The company then removed all parks and protected areas to reduce the size to just over 3700 square kilometers. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.
CONTACT: Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on , , , Instagram and .
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.
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 the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing. 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.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Silver47 Unveils Multiple Premier Exploration Targets with Strong Discovery Potential Across the Red Mountain Project, Alaska
Undrilled silver-rich and polymetallic occurrences are dispersed across a 55 km highly prospective east-west corridor
Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to provide a review of drill targeting across the highly-prospective Bonnifield District at the Red Mountain project near Fairbanks, Alaska (the "Red Mountain Project").
Highlights:
- Strong Alaskan High-Grade Resource Base: The Red Mountain Project already hosts an inferred mineral resource estimate of 15.6Mt at 336 g/t AgEq* totaling 168.6 million silver equivalent ounces comprised of two resource zones, Dry Creek and West Tundra Flats.
- Leveraging Past Work: A database of historic geochemical and geophysical data, including 2,543 rock samples, 7,948 soil samples and 15,862 XRF soil samples has revealed a series of new targets outside the current resource zones that the Company is developing for drilling in 2026.
- High Prospectivity and Unique Discovery Potential: Ongoing compilation highlights at least 35 mineralized prospects across the Red Mountain Project covering a 55 km trend many of which are undrilled or represent preliminary drilled discoveries open to expansion.
- U.S. Silver and Critical Metal Focus: Multiple zones of high-grade surface mineralization marked by samples collected by a previous operator representing significant polymetallic upside are highlighted by grades of:
- 1,295 g/t silver at the Galleon target
- 3.8 g/t gold at the Horseshoe target
- 16.2% copper at the Kiwi target
- 32% zinc at the Anderson Mountain target
- 20% lead at the Jack Frost target
- 4,850 g/t antimony at the Bib target
- 149 g/t gallium northeast of the West Tundra Flats Deposit
- 98 g/t indium at the Jack Frost target
- 0.13% tin at the Sheep Creek target
- Drilling On-Going with Assays Pending: Nine holes have been completed at the Dry Creek and West Tundra Flats deposits where zones of massive, semi-massive and disseminated sulfides have been intersected in step-out and infill holes.
Galen McNamara, CEO, stated: "Our Red Mountain Project in Alaska is emerging as a premier silver and critical metals asset in the U.S. By leveraging extensive historic data, we've identified dozens of high-potential targets along broadly mineralized trends. The prospectivity of these targets was first identified by past operators, and I agree; the data suggest the likely presence of additional undiscovered and potentially giant VMS deposits on the project. I am unaware of any other domestic mineral projects with similar polymetallic discovery potential. In addition, ongoing drilling at Dry Creek and West Tundra Flats continues to intersect promising sulfide zones, with assays pending, positioning Red Mountain to deliver significant value and strengthen domestic critical mineral supply chains in the future."
*Table 1: Combined Open Pit and Underground Inferred Mineral Resource Estimate for the Red Mountain Project, Alaska
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_002full.jpg
- The 2024 Red Mountain MRE was estimated and classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" dated November 29, 2019, and the CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10, 2014.
- Mr. Warren Black, M.Sc., P.Geo. of APEX Geoscience Ltd., a QP as defined by NI 43-101, is responsible for completing the 2024 Mineral Resource Estimate, effective January 12, 2024.
- Mineral resources that are not mineral reserves have not demonstrated economic viability. No mineral reserves have been calculated for Red Mountain. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.
- The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market, or other relevant factors.
- The quantity and grade of reported Inferred Resources is uncertain, and there has not been sufficient work to define the Inferred Mineral Resource as an Indicated or Measured Mineral Resource. It is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding. Reported grades are undiluted.
- A standard density of 2.94 g/cm³ is assumed for mineralized material and waste rock. Overburden density is set at 1.8 g/cm³. For mineralized material blocks with iron assays close enough to estimate an iron value for the block, density is calculated using the formula: density (g/cm³) = 0.0553 * Fe (%) + 2.5426.
- Metal prices are US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag.
Figure 1. Plan Map of Red Mountain Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_003full.jpg
Figure 2. Mineralized core from WT25-38 at the West Tundra Flat Deposit showing disseminated, semi-massive and massive sulfides consisting of pyrite, pyrrhotite, sphalerite, galena and chalcopyrite (172.65 to 180.5m downhole).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_004full.jpg
The Targets
Priority volcanogenic massive sulfide (VMS) exploration targets at the Red Mountain Project are dispersed across the highly prospective Bonnifield mining district. The targets vary from zinc-rich to copper-rich and many have associated high-grade silver and local gold mineralization.
Four main target trends are defined and include: Dry Creek Syncline, Keevy Trend, Last Chance Corridor and Wood River trend (Figure 1). Many of the targets across the Dry Creek Syncline area (Figure 1) were known historically, however, numerous high-priority targets across the Keevy and Last Chance areas were more recently identified through regional stream sediment, ridge-spur soil and rock geochemical surveys and project-wide EM geophysical surveys completed by a past project operator. Of the 30 known targets as well as other un-explored EM targets, only eleven targets have been drill tested, five of those with less than three holes each.
The Dry Creek Syncline: The best known targets associated with the Dry Creek Syncline are the Dry Creek and WTF deposits (combined inferred mineral resource of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million silver equivalent ounces*). Previous drilling at Dry Creek have returned high-grade intercepts, such as 22.3 m at 601 g/t AgEq (150.6 g/t Ag, 0.82 g/t Au, 5.86% Zn, 2.60% Pb, 0.13% Cu, DC24-105) from 18.9 m down hole.
VMS targets are located along both limbs of the project-scale, east-west trending Dry Creek syncline where approximately 40 km of prospective VMS stratigraphy (Mystic and Sheep Creek members of the Totatlanika schist) is well exposed (Figure 1). Many targets along the syncline are associated with pronounced EM anomalies and have been mostly defined by stream, soil and rock-chip geochemistry and limited ground geophysical surveys (magnetics and CSAMT). High priority targets across the Dry Creek Syncline area include:
Hunter Target: Massive sulfide mineralization at the Hunter target, 5.8 km west of Dry Creek, has been traced for over 500 m within a carbonaceous phyllite that is traced for over 1 km. Rock chip sampling of the discovery Hunter outcrop returned assays up to 616 g/t Ag, 18.6% Zn, 5.4% Pb, 2.5% Cu, and 0.33 g/t Au. Six drill holes in 2018, 2019 and 2021 successfully tested the dip-extent of the massive sulfide lens highlighted by 1.4m of 17.4% Zn, 3.9% Pb, 1.6% Cu, 90 g/t Ag and 0.23 g/t Au (HR18-01)2 and 1.8m of 13.8% Zn, 3.1% Pb, 56 g/t Ag, 0.2 g/t Au and 0.9% Cu (HR18-02)2. VMS-related mineralization at Hunter is therefore open in all directions and further drilling testing of the strike- and dip-extent is warranted.
Glacier Creek: The Glacier Creek suite of targets are approximately 12.3 km northwest of Dry Creek. The ~6 km long target area is primarily underlain by the highly-prospective Totatlanika schists and is defined by numerous EM anomalies and broad km-scale colour anomalies and associated sericite alteration. Rock-chip sampling is sparce and soil-surveys have only been ridge-spur, however, numerous multi-element geochemical anomalies have been defined together with barium enrichment in many samples. Seven holes were drilled across two programs covering a 2 km trend in 1998 and 2019. Additional geological mapping, soil and rock geochemical surveys are clearly warranted to advance the known targets and to define drill targets.
Galleon Target: The Galleon target is approximately 9.0 km north of Dry Creek. Similar to Glacier Creek, the Galleon target is primarily underlain by the Totatlanika schist where numerous showings of VMS-style, high-Pb-Zn-Cu massive sulfide mineralization have been discovered. Importantly, numerous samples from Galleon returned elevated to high-grade Ag and Au mineralization. Rock samples with up to 1,265 g/t Ag, 2.18 g/t Au, 2.4% Zn, 1.656% Pb and 1.7% Cu have been reported. Additional geological mapping, soil and rock geochemical surveys are clearly warranted to advance the known targets, followed by drill testing.
The Keevy Trend: The Keevy VMS trend consists of numerous high-grade VMS targets dispersed along 25 km of favorable Keevy Peak Formation and Healy Schist stratigraphy south of the Dry Creek Syncline area (Figure 1). From east to west the targets comprise Lowrider, Easy Ivan, Jack Frost, Yogi, Kiwi, and Yeti with multiple unexplored EM targets west of Yeti (Figure 1). These targets have massive sulfide occurrences comprised of sphalerite, galena and chalcopyrite with other key VMS indicators such as chert, black barite and broad zones of sericite alteration and strongly anomalous base-metal soil anomalies. Highlights and key indicators of VMS potential from the Keevy VMS trend include:
Kiwi: up to 316 g/t Ag, 16.2% Cu, 10.3% Zn, 1.7% Pb, and 2.8 g/t Au in rock samples
Easy Ivan: up to 87.1 g/t Ag, 6.0% Zn, 12.3% Pb, and 0.45% Cu in rock samples
Jack Frost: up to 285 g/t Ag, 14.0% Zn, 20.0% Pb, and 1.1% Cu in rock samples
Yeti: black barite with elevated silver and strong base metal soil anomalism
Besides sparce ridge-spur and local grid soil surveys, prospecting and rock sampling many of the targets are under-explored and represent priority targets for follow-up. Geological mapping and infill soil geochemical surveys are planned to advance many of the targets along the highly prospective Keevy Trend.
Last Chance Corridor: The Last Chance area of prospective VMS targets is centered approximately 40 km west of the Dry Creek deposit (Figure 1). These targets may represent the western extent of the Keevy Trend. Seven targets have been defined covering a prospective corridor of 15 km primarily underlain by the Healy Schist and include from east to west; Copper Creek, Grapple, Bib West, Bullseye, Ringer, Sheep Creek and Horseshoe. The VMS lenses exposed in outcrop consist of pyrrhotite, pyrite and/or sphalerite, galena and chalcopyrite. Only the Sheep Creek target has been drill tested (1979 program by US Borax1) and all targets are primarily defined based on rock, soil and stream sediment anomalism and airborne and local ground-based geophysical methods. Highlights from previous rock-chip sampling include:
Horseshoe: up to 8.3% Zn, 4.6% Pb, 0.76% Cu, 44 g/t Ag and 3.8 g/t Au in rock samples
Bib: up to 7.3% Zn, 5.1% Pb, 0.3% Cu, 60 g/t Ag and 0.47 g/t Au in rock samples
Grapple: up to 5.1% Zn, 13.2% Pb, 0.79% Cu and 139 g/t Ag in rock samples
Ringer: up to 0.72% Cu, 27 g/t Ag and 1.0 g/t Au in rocks samples
Sheep Creek: up to 306 g/t Ag, 4.3% Zn, 3.98% Pb, and 0.18% Cu in rock samples and 24.5 m of 1.3% Zn,1.0% Pb and 0.127% Sn in historical drilling1
Follow-up geological mapping, infill soil geochemical surveys and additional higher-resolution magnetic surveys are planned to further advance many of the Last Chance targets.
Wood River Trend: Four high-grade VMS targets cover a 24 km trend on the southern limb of a district-scale anticlinal fold that runs parallel to the Dry Creek syncline (Figure 1). The targets are hosted in prospective Healy and Wood River Assemblage schists which host VMS-related mineralization elsewhere in the Bonnifield district. From east to west the targets include West Fork, Cirque, Virginia Creek and Anderson Mountain. Select historical rock-chip sampling and select drilling highlights include:
West Fork: up to 3.5% Zn, 2.5% Pb, 1.2% Cu and 73g/t Ag in rock samples
Cirque: up to 487 g/t Ag, 13.2% Zn, 3.8% Pb, 12.4% Cu and 3.7 g/t Au in rock samples
Virginia Creek: historical drilling, 14.8m at 3.3% Zn, 0.8% Pb, 78 g/t Ag, 0.2g/t Au and 0.5% Cu1 and rock samples up to 2.8% Zn, 0.65% Pb, 74.1 g/t Ag, 1.01 g/t Au and 1.3% Cu
Anderson Mountain: historical drilling, 161 g/t Ag, 0.6 m at 22% Zn, 4.8% Pb and 0.6% Cu1 and up to 151 g/t Ag, 32% Zn, 8.8% Pb and 3.8% Cu in rock samples. The prospective VMS horizon is mapped for over 240 m
Follow-up geological mapping, infill soil geochemical surveys and additional higher-resolution magnetic surveys are warranted to further advance many of the Wood River trend of VMS targets.
Exploration Update
Drilling is ongoing at the Red Mountain Project where nine holes have been completed. Two holes have been completed at Dry Creek and seven holes at WTF. Zones of massive, semi-massive and disseminated sulfide mineralization have been intersected in both infill and step-out holes.
Data Verification
Historical data referenced herein, including but not limited to assay results, drill intercepts, and geological interpretations from previous exploration activities, have been sourced from publicly available records, archived reports, and third-party databases believed to be reliable. However, Silver47 has not independently verified this historical data through resampling, re-assaying, or other confirmatory methods due to the remote locations of the original samples or sites. As such, the Company cautions that this historical information may not conform to current NI 43-101 standards and should not be relied upon.
No new data verification procedures were undertaken specifically for this release beyond a review of available documentation. The Company plans to conduct future verification work, including drilling and sampling, to confirm and update these historical findings as part of ongoing exploration programs.
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.
References
Raffle, K, Livingston, C., Proenza, Y. and Black, B., 2024, Technical Report on the Red Mountain VMS Property, Bonnifield Mining District, Alaska, USA, NI 43-101 Technical Report, effective date of January 12, 2024, 200 p, sedarplus.ca.
Data reported by White Rock Minerals, WRM ASX announcement August 20th, 2018.
About Silver47 Exploration
Silver47 Exploration Corp. is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a combined resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq Indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Company trades on the TSXV under the ticker symbol AGA and OTCQB under the ticker symbol AAGAF.
For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd."
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- X: @Silver47co
- LinkedIn: Silver47
On Behalf of the Board of Directors,
Mr. Galen McNamara
CEO & Director
For investor relations
Giordy Belfiore
604-288-8004
gbelfiore@silver47.ca
No securities regulatory authority has either approved or disapproved of the contents of this release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to: the Company's exploration and development activities and plans. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability to close the Offering, including the time and sizing thereof, the insider participation in the Offering and receipt of required regulatory approvals; the use of proceeds not being as anticipated; the Company's ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and the additional risks identified in the Company's financial statements and the accompanying management's discussion and analysis and other public disclosures recently filed under its issuer profile on SEDAR+ and other reports and filings with the TSXV and applicable Canadian securities regulators. The forward-looking information 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.
No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
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Osisko Metals Intersects 731 Metres Averaging 0.29% Cu at Gaspé
Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
Osisko Metals Chief Executive Officer Robert Wares commented: " Drill results at Gaspé Copper continue to exceed expectations. These new data expand the deposit further south and at depth with drill holes 30-1092 and 30-872, located respectively 230 metres and 440 metres south of the 2024 Mineral Resource Estimate ("MRE") model. Additional holes are planned in this resource expansion target area in the coming months over a surface of 450 metres by 550 metres, which we believe will add significant new tonnage to the MRE update, planned for Q1 2026. "
New analytical results are presented below (see Table 1), including 20 mineralized intercepts from 7 new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as "Both**"). Maps showing hole locations are available at www.osiskometals.com .
Highlights:
- Drill hole 30-1096
- 730.7 metres averaging 0.29% Cu (infill and expansion)
- Drill hole 30-1085
- 219.0 metres averaging 0.41% Cu (infill)
- 754.5 metres averaging 0.24% Cu (infill and expansion)
- Drill hole 30-1092
- 331.5 metres averaging 0.37% Cu (expansion)
- Drill hole 30-1095
- 309.5 metres averaging 0.26% Cu (infill)
- Drill hole 30-1098
- 115.0 metres averaging 0.29% Cu (infill)
- 124.5 metres averaging 0.20% Cu (expansion)
- Drill hole 30-1099
- 614.7 metres averaging 0.23% Cu (infill and expansion)
- Drill hole 30-0872
- 92.1 metres averaging 0.24% Cu (expansion)
- 47.2 metres averaging 1.14% Cu (expansion)
Table 1: Infill and Expansion Drilling Results
| DDH No. | From (m) | To (m) | Length (m) | Cu % | Ag g/t | Mo % | CuEq* | Type** |
| 30-0872 | 167.6 | 259.7 | 92.1 | 0.24 | 3.05 | 0.25 | Expansion | |
| And | 342.0 | 389.2 | 47.2 | 1.14 | 11.84 | 1.22 | Expansion | |
| 30-1085 | 3.0 | 222.0 | 219.0 | 0.41 | 2.79 | 0.44 | Infill | |
| And | 355.5 | 1110 | 754.5 | 0.24 | 1.63 | 0.019 | 0.32 | Both |
| (including) | 355.5 | 763.3 | 407.8 | 0.21 | 1.49 | 0.020 | 0.30 | Infill |
| (including) | 763.3 | 1110.0 | 346.7 | 0.27 | 1.79 | 0.019 | 0.36 | Expansion |
| 30-1092 | 15.0 | 346.5 | 331.5 | 0.37 | 3.21 | 0.39 | Expansion | |
| 30-1095 | 15.0 | 43.0 | 28.0 | 0.22 | 1.75 | 0.23 | Infill | |
| And | 57.0 | 366.5 | 309.5 | 0.26 | 2.11 | 0.007 | 0.30 | Infill |
| And | 425.9 | 482.0 | 56.1 | 0.23 | 1.70 | 0.24 | Expansion | |
| And | 524.7 | 550.5 | 21.9 | 0.42 | 2.04 | 0.43 | Expansion | |
| 30-1096 | 27.0 | 78.0 | 51.0 | 0.21 | 1.40 | 0.22 | Infill | |
| And | 129.0 | 177.0 | 48.0 | 0.17 | 1.20 | 0.18 | Infill | |
| And | 331.5 | 1062.2 | 730.7 | 0.29 | 1.60 | 0.032 | 0.42 | Both |
| (including) | 331.5 | 727.5 | 396.0 | 0.21 | 1.45 | 0.032 | 0.34 | Infill |
| (including) | 727.5 | 1062.2 | 334.7 | 0.39 | 1.79 | 0.032 | 0.52 | Expansion |
| 30-1098 | 36.0 | 141.0 | 104.5 | 0.20 | 2.25 | 0.21 | Infill | |
| And | 255.0 | 288.0 | 33.0 | 0.21 | 1.18 | 0.22 | Infill | |
| And | 330.0 | 445.5 | 115.0 | 0.29 | 2.18 | 0.017 | 0.36 | Infill |
| And | 606.0 | 730.5 | 124.5 | 0.20 | 1.57 | 0.014 | 0.26 | Expansion |
| And | 753.0 | 813.0 | 60.0 | 0.35 | 2.88 | 0.006 | 0.39 | Expansion |
| 30-1099 | 31.5 | 66.0 | 34.5 | 0.22 | 1.08 | 0.23 | Infill | |
| And | 105.3 | 720.0 | 614.7 | 0.23 | 1.59 | 0.016 | 0.30 | Both |
| (including) | 105.3 | 578.0 | 472.7 | 0.23 | 1.61 | 0.017 | 0.30 | Infill |
| (including) | 578.0 | 720.0 | 142.0 | 0.23 | 1.52 | 0.015 | 0.30 | Expansion |
| And | 862.2 | 1000.5 | 138.0 | 0.13 | 1.01 | 0.028 | 0.24 | Expansion |
* See explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
** "Both" indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.
Discussion
Drill hole 30-0872 was an old Noranda hole from the 1990s from which core was recovered and analyzed. The hole is located 440 metres south of the southern limit of 2024 MRE model and returned 92.1 metres averaging 0.24% Cu and 3.05 g/t Ag followed by a higher grade second intercept of 47.2 metres averaging 1.14% Cu and 11.8 g/t Ag (at the level of the C Zone skarn horizon), extending mineralization to a vertical depth of 390 metres. The first intercept starts at a depth of 168 metres and the overlying stratigraphy (Indian Cove hornfels) is unmineralized, but this waste material may be included as necessary strip in the next Whittle pit shell.
Drill hole 30-1085, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 219.0 metres averaging 0.41% Cu and 2.79 g/t Ag (infill), followed by a second intercept (starting 130 metres deeper) of 754.5 metres averaging 0.24% Cu, 1.63 g/t Ag and 0.019% Mo (both infill and expansion at depth).This hole extends mineralization near the centre of the deposit to a vertical depth of 1110 metres.
Drill hole 30-1092 is located 230 metres south of the southern limit of 2024 MRE model and returned 331.5 metres averaging 0.37% Cu and 3.21 g/t Ag (from surface down to the P4 stratigraphic level below the C Zone). This hole is located approximately 15 metres west of previously-reported hole 30-1067, which had failed to drill through a pillar of the B Zone.
Drill hole 30-1095, located in the south-central part of the 2024 MRE model, intersected 309.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill). This was followed by 56.1 metres averaging 0.23% Cu and 1.70 g/t Ag and then by another 21.9 metres averaging 0.42% Cu and 2.04 g/t Ag (both expansion), extending mineralization to a vertical depth of 550 metres.
Drill hole 30-1096, located in the central part of the 2024 MRE model, intersected two short (51 and 48 metre-long) mineralized zones, followed by 730.7 metres averaging 0.29% Cu, 1.60 g/t Ag, and 0.032% Mo (0.42% CuEq). The latter includes an expansion lower intercept, below the base of the 2024 MRE model, of 334.7 metres averaging 0.39% Cu, 1.79 g/t Ag, and 0.032% Mo (0.52% CuEq). This hole extends mineralization to a vertical depth of 1062 metres.
Drill hole 30-1098, located near the western margin of the 2024 MRE model, intersected 104.5 metres averaging 0.20% Cu and 2.25 g/t Ag (infill), followed by 115.0 metres averaging 0.29% Cu and 2.18 g/t Ag (infill). This was followed by 124.0 metres averaging 0.20% Cu and 1.57 g/t Ag and then by another 60.0 metres averaging 0.35% Cu and 2.88 g/t Ag (both expansion), extending mineralization to a vertical depth of 813 metres.
Drill hole 30-1099, located near the central part of the 2024 MRE model, adjacent to the Copper Mountain pit, intersected a short (34-metre-long) mineralized zone followed by 614.7 metres averaging 0.23% Cu, 1.59 g/t Ag, and 0.016% Mo (both infill and expansion), followed by a third intersection of 138 metres that averaged 0.13% Cu, 1.01 g/t Ag, and 0.028% Mo (expansion), extending mineralization in the porphyry core of the deposit to a vertical depth of 1000 metres.
Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-replacement mineralization, that is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.
Table 2: Drill hole locations
| DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
| 30-0872 | 0.00 | -90.00 | 594.3 | 316531.1 | 5425181.2 | 706.3 |
| 30-1085 | 0.00 | -90.00 | 1110.0 | 316020.0 | 5426400.0 | 742.5 |
| 30-1092 | 0.00 | -90.00 | 741.0 | 316342.0 | 5425425.0 | 609.0 |
| 30-1095 | 0.00 | -90.00 | 696.0 | 316409.1 | 5425733.0 | 572.8 |
| 30-1096 | 0.00 | -90.00 | 1069.0 | 316198.0 | 5426305.0 | 753.3 |
| 30-1098 | 0.00 | -90.00 | 861.0 | 316034.0 | 5425948.0 | 600.5 |
| 30-1099 | 0.00 | -90.00 | 1041.0 | 315700.0 | 5426462.0 | 603.7 |
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are not reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.'s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.
Option Grant
The Company announces that, effective August 12, 2025, it has granted to an employee of the Company an aggregate of 125,000 stock options ("Options") pursuant to the Osisko Metals omnibus equity incentive plan.
The Options have an exercise price of $0.44 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq". The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections 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, 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 forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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