Blackstone Minerals is well-positioned to leverage a projected nickel supply deficit as it strives to become a vertically integrated producer of low-cost, low-carbon, battery-grade nickel. Key to this is Blackstone’s Ta Khoa project in Vietnam, an emerging hub for the electric vehicle market.
As the world moves closer to a sustainable net-zero future, the need for battery metals continues to mount and nickel may soon be among the metals to see a supply crunch. Though its roots are in the stainless steel sector, it's also a critical component of lithium-ion batteries.
Given that many nations are aiming to replace combustion vehicles with electric cars by 2030, the metal is already experiencing a massive spike in demand. Benchmark Minerals expects the need for battery-grade nickel will increase about 950 percent by 2040.
It's imperative to ramp up global nickel production but the resource sector, for its part, must do so with a much-reduced carbon footprint to influence the sustainability of the entire value chain. Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this. As a vertically integrated producer of low-cost, low-carbon nickel, the company aims to become a leading source of low CO2 emission nickel sulphide. Its flagship Ta Khoa project in Vietnam is representative of that goal.
Blackstone Minerals business structure schematic
With over 20 active mines and a burgeoning technology sector, Vietnam is on the road to becoming a hub of electric vehicle production and innovation, with low labor costs and regulated electricity pricing further driving its growth. Steadily increasing foreign direct investment in the region is indicative of this as the country seeks to attract $50 billion in new foreign investment by 2030.
Blackstone is uniquely positioned to take advantage of this, thanks to two factors. US President Joe Biden's Inflation Reduction Act, which came into force in August 2022, represents the largest investment into climate action in United States history. A similar initiative is rolling out in the European Union (EU), which maintains a Free Trade Agreement with Vietnam — something multiple partners of the company have expressed interest in.
Blackstone's Ta Khoa Project consists of two streams, the Ta Khoa Nickel Mine and the Ta Khoa Refinery. Recent milestones point to Blackstone’s commitment to advancing this game-changing project.
These milestones include a memorandum of understanding with Cavico Laos Mining to collaborate in a number of areas associated with CLM’s nickel mine in Lao People's Democratic Republic and supply of nickel products for Blackstone’s Ta Khoa Refinery in Vietnam.
Blackstone also partnered with Arca Climate Technologies to further investigate the carbon capture potential at the Ta Khoa Project through carbon mineralisation, and explore opportunities to utilise Arca’s carbon capture technologies within the project.
In a bid to collaborate on the supply of renewable wind energy to the Ta Khoa Project, Blackstone signed a direct power purchase agreement with Limes Renewables Energy.
Blackstone received AU$2.8 million as an advance from a research & development (R&D) lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital. The advanced payment reflects the significant investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM).
In December 2023, Blackstone entered into an option agreement with CaNickel Mining to acquire the Wabowden nickel projectlocated in the world-class Thompson Nickel Belt in Manitoba, Canada.
The Wabowden project will have the potential to fill the Ta Khoa Refinery, removing dependence on third party feed sources.
The company has signed a non-binding MOU with the Development for Resources Environmental Technology joint stock company (DRET) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products. Moreover, it has also progressed the Ta Khoa Refinery byproduct offtake strategy with Vietnam Chemical Group (VinaChem), PV Chemical and Equipment Corporation (PVChem) and Nam Phong Green Joint Stock Company (Nam Phong) to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate.
As the company plans to build a global nickel business, Blackstone signed a non-binding memorandum of understanding with Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.
Blackstone holds a 90 percent interest in the Ta Khoa Nickel-Copper-PGE Project, located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.
Blackstone intends to complement the existing mine through the installation of a large concentrator, refinery and precursor facility, supporting integrated on-site production of nickel, cobalt and manganese precursor products for the Asia-Pacific market. One of Blackstone's key Research and Development objectives with Ta Khoa is to develop a flowsheet that will support this production.
To fulfill this goal, Blackstone is focusing on a partnership model, collaborating with groups committed to sustainable mining. It is also working to minimize its carbon footprint and implement a vertically integrated supply chain.
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Dr. Frank Bierlein is a geologist with 30 years of technical and corporate experience, focusing on grassroots to mine-stage mineral exploration, target generation, project management and oversight, due diligence studies, mineral prospectivity analysis, metallogenic framework studies and mineral resources market and investment analysis.
Alison Gaines has over 20 years of experience as a director in Australia and internationally. She has experience in the roles of board chair and board committee chair, particularly remuneration and nomination and governance committees. She is also the managing director of Gaines Advisory P/L and was recently global CEO of international search and board consulting firm Gerard Daniels, with a significant mining and energy practice.
Gaines has a Bachelor of Laws and a Bachelor of Arts (hons) from the University of Western Australia, a Graduate Diploma in Legal Practice from Australian National University and an honorary doctorate of the University and Master of Arts (Public Policy) from Murdoch University. She is a fellow of the Australian Institute of Company Directors and holds the INSEAD certificate in corporate governance. She is currently the governor of the College of Law Ltd, and non-executive director of Tura New Music.
Daniel Lougher’s career spans more than 40 years involving a range of exploration, feasibility, development, operations and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin. He was the managing director and chief executive officer of the successful Australian nickel miner Western Areas Ltd until its takeover by Independence Group.
Lougher also holds a first class mine manager’s certificate of competency (WA) and is a fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Lougher is the chair of the company’s technical committee and nomination committee.
Jamie Byrde has over 16 year's experience in corporate advisory, public and private company management since commencing his career with big four and mid-tier chartered accounting firms positions. Byrde specializes in financial management, ASX and ASIC compliance and corporate governance of mineral and resource focused public companies. He is also currently company secretary for Venture Minerals Limited.
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Kutscher holds a master’s degree in literature, linguistics and political science from the University of Bonn, Germany and a master’s degree in teaching from Ludwig Maximilian University of Munich.
Andrew Strickland is an experienced study and project manager, a fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in chemical engineering and extractive metallurgy from Curtin and WASM.
Before joining Blackstone, Strickland was a senior study manager for GR Engineering Services where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects. Over his career, he has held a variety of project development roles across both junior to mid-tier developers (including Straits Resources, Perseus Mining and Tiger Resources) and major multi-operation producers (South32).
Graham Rigo is an experienced study manager with over a decade of on-site production experience, holding undergraduate degrees in chemical engineering and finance from Curtin University, WA.
Before joining Blackstone, Rigo was a study manager for Ausenco where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects over a range of different commodities.
Rigo has over 11 years of site experience in nickel and cobalt hydromet production experience, in supervisory/superintendent level roles as well as process engineer experience.
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
Prior to joining Blackstone in February 2022, Taranaki was the chief executive officer of Minegenco, a renewable-energy-focused independent power producer. Preceding this, he was managing director of his private consultancy, AMG Mining Global, where he was providing services to the mining industry in Singapore, Guyana, Indonesia and Cambodia. Additionally, Taranaki has held various senior positions with Sakari Resources, PTT Asia Pacific Mining, Straits Resources, Sedgmans and BHP Coal.
Blackstone Minerals (ASX: BSX) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC 2023 Mining Showcase. We invite our shareholders and all interested parties to join us.
The annual conference will take place in-person at the Sheraton Centre Toronto Hotel from March 2-3, 2023.
Andrew Strickland, Executive, BD will be presenting on March 2nd at 3:30PM Eastern Standard time.
For more information and/or to register for the conference please visit: https://redcloudfs.com/prepdac2023/.
We look forward to seeing you there.
About Blackstone Minerals
Blackstone Minerals Limited is an Australian based battery materials developer. The Company is focused on building an integrated upstream and downstream battery metals processing business in Vietnam that produces Nickel-Cobalt-Manganese (NCM) Precursor products for Asia's growing Lithium-ion battery industry. The Company's projects include Ta Khoa Nickel Project, Ta Khoa Refinery and Gold Bridge Project. It owns a 90% interest in Ta Khoa, which is located approximately 160 kilometers west of Hanoi in the Son La Province of Vietnam. The Ta Khoa Refinery is designed to have a refining capacity of 400 kilotons-per-annum (ktpa), with feedstock provided from a combination of concentrate from the Ta Khoa Nickel Project and third-party feed sources. The Gold Bridge Project covers approximately 367 square kilometers of tenure and is located 180 kilometers north of Vancouver in British Columbia, Canada.
For further information:
Blackstone Minerals
Ashleigh Fox
Executive Assistant
+61407 320 079
ashleigh@blackstoneminerals.com.au
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Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Company ") welcomes the report of the Bureau d'audiences publiques sur l'environnement (BAPE), in which the commission of inquiry brings to the attention of the relevant decision-making bodies various elements that require commitments, actions or modifications, with a view to issuing government authorizations. This commission examined the Falco Horne 5 mining project (the " Project ") from a sustainable development perspective, and, at this stage of the project's development, it is customary for the commission to request additional studies and analyses in order to clarify certain aspects of the Project. It is important to note that to date, more than 90% of the commission's opinions related to the Project have already been considered, planned or initiated. Falco has summarized its main findings in a summary of highlights .
In addition, more than 50% of the commission's opinions suggested updating various existing studies. Falco wishes to reiterate that these updates and analyses are already included in its project planning and will be submitted to government authorities at the appropriate time, as part of the Quebec regulatory process for the Falco Horne 5 project.
In terms of content, the report:
Application of the precautionary principle: at the heart of the commission's opinions
Falco welcomes the continued application of the precautionary principle in the report's conclusions and sees this as an opportunity to further improve the Project, by continuing the work already begun, in close collaboration with stakeholders, local communities and the relevant authorities.
Falco would also like to point out that many of the recommendations made by the commission in its report are also addressed to the Quebec government, the City of Rouyn-Noranda and other partners, and that more than a third of the recommendations offer avenues of reflection for the mining industry as a whole, which could contribute to its evolution in a more sustainable development perspective. With the start-up anticipated for 2030, Falco has the time it needs to meet the expectations expressed.
Health and safety: a priority
With the health and safety of Rouyn-Noranda's citizens at the heart of Falco's priorities, a committee of experts will be set up in January 2025 to determine the acceptable parameters and operating conditions to ensure the cohabitation of the Project and the Radio-Oncology Center of the Centre intégré de santé et de services sociaux de l'Abitibi-Témiscamingue (CISSSAT).
Several discussion groups have been or are in the process of being set up. These consultation mechanisms will give the community the opportunity to actively participate in the search for appropriate solutions. The commission also recommended that the Minister include in his decree the Integrity Program - residences and infrastructures , a Falco initiative that was presented to the public in the fall of 2024.
Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, commented: " Given the project's stage of development, we expected the findings of the commission and fully accept the challenge of integrating its main conclusions, which reflect the input of the groups participating in the hearings. These high expectations also reflect our own commitment to environmental and social excellence. Our vision has always been to seamlessly integrate our project into the community. We will work with the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) to complete the environmental analysis in order to obtain the decree. "
Luc Lessard, President and Chief Executive Officer added: " In light of the BAPE report, we will continue our efforts to improve the Horne 5 project so that it meets the public's expectations. We are convinced of the lasting and significant benefits for the entire region. We will take the time to analyze the report in detail with our experts, but we are pleased to have passed one of the last stages of the environmental assessment process. BAPE's contribution is just one of the elements intended to inform the recommendation that the Minister of the MELCCFP will make to the Council of Ministers. "
Falco is confident that, with appropriate adjustments and ongoing collaboration with stakeholders over the next few years, solutions can be found that will ultimately enable the Project to be completed while meeting environmental and social expectations.
About Falco Resources
Falco is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the camp as a whole and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder, with a 16% interest in the Company.
For more information, please contact:
Hélène Cartier
Vice-President, Environment, Sustainable Development and Community Relations
514-216-8611
hcartier@falcores.com
Luc Lessard
President and Chief Executive Officer, Falco Resources
514 261-3336
info@falcores.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.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Often, but not always, forward-looking statements can be identified by words such as "plans", "expects", "seeks", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Without limiting the generality of the foregoing statements, the Corporation obtaining all required governmental and regulatory approvals, are forward-looking statements. Forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual plans, results, performance or achievements of Falco to differ materially from any future plans, results, performance or achievements expressed or implied by the forward-looking statements. These risk and uncertainties include, but are not limited to, the risk factors set out in Falco's annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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VANCOUVER, BC TheNewswire - January 7, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) ("Heritage" or the "Company") is pleased to announce the appointment of Thomas Reid to the Company's board of directors (the "Board"). Mr. Reid will be succeeding James Fairbairn, who has retired from the Board with immediate effect.
Mr. Reid recently retired after a 30 year career with Sun Life Financial ("Sun Life") include terms as CFO Canada and Head of Corporate Development. Since joining Sun Life Financial in 1994, Tom has held increasingly senior positions throughout Sun Life in the areas of Finance, Corporate Development, Public Relations and Investor Relations. From 2009 to 2020, Mr. Reid led the Group Retirement Services business at Sun Life, growing the assets under management from $30 billion to $130 billion in that time. For the last 4 years, Tom was responsible for the Strategy and Growth team for Sun Life in Canada, where his team led strategic planning for the Canadian businesses and explored how Sun Life can invest in new businesses to accelerate the Company's growth in Canada. Mr. Reid also holds the CPA,CA designations.
"I am excited to join Peter Schloo and the experienced team at Heritage Mining as we continue to develop the Company's portfolio of projects in Ontario. Peter has consistently demonstrated an outstanding work ethic and approach to business and I have been a consistent supporter of Heritage as a result. I look forward to generating value for our stakeholders, 2025 will be an exciting chapter for us." Commented Thomas Reid, Director of Heritage.
" I am delighted to have Tom on the Heritage Mining Board of Directors. I've work under Tom in my past role at Sun Life driving improved operational efficiency through automations and coding in their Finance Department. Sun Life was a fantastic place to learn and add value.
I'd also like to thank Jim for his contributions as a Director and wish him all the best in his future endeavors. Jim was one of the first Directors in Heritage and has brought material value to our stakeholders." Commented Peter Schloo, President, CEO and Director of Heritage.
ABOUT 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:
Heritage Mining Ltd.
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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Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Definitive Implementation Agreement with Canada Nickel Company Inc. ("Canada Nickel") whereby Noble and Canada Nickel will spin-out certain mining claims (the "Properties") into a new company to consolidate their interests in large tonnage, low grade nickel projects northeast of Timmins, Ontario
The terms and conditions of the Definitive Implementation Agreement between Canada Nickel and Noble include:
(i) The creation of a private exploration company described herein as "ExploreCo", whereby Noble and Canada Nickel both transfer their interests in mining claims in Mann Township (the "Mann Property")
(ii) The transfer from Noble to Canada Nickel of certain mining claims and the transfer from Canada Nickel to ExploreCo of certain mining claims east of Timmins,
(iii) Canada Nickel providing initial flowthrough and hard dollar funding of $5 million from existing cash on-hand to ExploreCo, to be directed to exploration of the properties transferred into ExploreCo. After this initial funding, ExploreCo will be owned 80% by Canada Nickel and 20% by Noble Mineral Exploration and each Company will be responsible for their pro-rata share of funding.
(iv) The transfer by Noble of the right to acquire certain surface rights over the Noble Project 81 area that includes Canada Nickel's Crawford Project,
(v) The retention of underlying NSR and buy-back rights to Noble, Canada Nickel and any underlying NSR owners,
(vi) The retention of certain exploration rights by Noble on the transferred Project 81 claims and patents for non-nickel opportunities.
The transactions under the initial Binding Letter of Intent received conditional approval from the TSX Venture Exchange in early December 2024
As stated previously and commenting on the transaction Vance White, CEO of Noble said, "We felt that consolidating the eastern properties into a separate exploration company would maximize the value of the Mann Twp properties without incurring significant upfront dilution to Noble, and at the same time gain exposure to additional identified nickel sulphide targets in the Timmins camp in which Noble currently has no interest. ExploreCo will control ~1,989 mining claims totaling over 42,000 ha and will include Reaume, Mann and Newmarket Townships as well as McCool, Moody, Galna and other properties currently held by Canada Nickel. Noble will vend its interest in Project 81, together with the right to acquire surface rights over Project 81. For properties transferred from Noble to Canada Nickel, Noble will retain a 5-year exploration right to any non-nickel exploration target therein. This 5-year exploration right will be subject to an annual exploration right thereafter, upon both parties' consent. Noble intends to use its best efforts so that -upon ExploreCo going public, a portion of Noble's holdings in ExploreCo will be distributed to Noble shareholders in order that they may have a direct benefit as ExploreCo advances all underlying properties to the development stage, although that is a future event and we cannot provide any assurances that this will be done We anticipate that resource estimates will be available on at least two of the projects in Q2 2025".
The properties that would be held by ExploreCo include:
Figure 1 – Mann Northwest and Central – CNC Drillholes Over Total Magnetic Intensity.
` 
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Figure 2 – NewMarket - CNCDrill Holes Over Total Magnetic Intensity
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Figure 3 - Newmarket – Mann Southeast targets
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Figure 4 – Moody, Mortimer, and Stimson Properties 
Moody is located 85 km northeast of Timmins and was staked by Canada Nickel (1,940 ha)
Mistango River Mines (1964) and Utah Mines Ltd. (1984) drilled 34 diamond holes and several reverse circulation holes, respectively, but the results were either not provided on MLAS or the core was not recovered
The ultramafic is interpreted to have dimensions of 4.2 km long up to 700 metres wide
Mortimer is located 80 km northeast of Timmins and includes two ultramafic intrusions that cover a total distance of 10 km and was staked by Canada Nickel (2,732 ha)
The main intrusion has dimensions of 1.8 km long, up to 400 metres wide and has never been intersected by drilling
The secondary intrusion, although longer in strike extent, does not show the same high intensity in the TMI but does have three locally high responses within the intrusion, none of which appears to have been drilled
Stimson is located 82 km northeast of Timmins and encompasses a weakly magnetic ultramafic body having a strike length of at least 2 km and with a higher amplitude TMI of 400 metres long
The ultramafic is interpreted to be a more distal extension of more strongly magnetic ultramafics found in Mortimer and Moody Townships
Figure 5 – ExploreCo Properties
Click Image To View Full Size
Statement Regarding TSX Venture 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.
The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval.
Qualified Persons and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC."
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau"), is pleased to provide an update on the Company's ongoing work programs at the Matagami Mining Camp.
In 2025, Nuvau will strive to continue building on its previous successes, advancing exploration efforts, and looking to increase resources.
Key highlights of the company include:
"After almost three years since founding the company, 2024 was a watershed period for Nuvau," said Peter van Alphen, President and CEO. "After a considerable amount of work by our dedicated team, we were able to complete the qualifying transaction and begin trading on the TSXV on December 17, 2024. This was, in no small part, because of the continued support of our shareholders, both old and new. We also continued to work towards the completion of the earn-in agreement with Glencore, which will see Nuvau as the 100% owner of the Matagami Property in Quebec. Nuvau remains focused on bringing a new start to this historic mining camp through continued exploration initiatives across this 1,300 km2 land package, as well as the ongoing efforts to continue to de-risk the potential restart of production. We are in a strong financial position as we begin 2025, advancing our objectives and looking to grow our team."
The Matagami Opportunity
The Matagami Mining Camp represents a compelling investment opportunity. Located in the northern Abitibi Greenstone belt in the province of Quebec, the Matagami property is in the heart of a region that boasts a history of significant mineral endowment. The exploration potential of the Matagami property is substantial, with over 1,300 km² of highly prospective ground in a region renowned for its base and precious metal deposits.
The property lies along the Sunday Lake deformation zone, east of major current and past mining operations such as the Detour Gold Mine, Casa Berardi Mine, and Selbaie Mine. This region is the focus of continued exploration activities by numerous exploration companies.
Matagami Mining Camp
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Geophysical programs have identified more than 80 priority targets in the northern part of the property alone. The first of these anomalies tested by Nuvau resulted in the discovery of the Renaissance Zone and highlights the potential along this undertested part of the property. Only a small portion of the property has been extensively explored, resulting in significant exploration potential for base metals and there has never been a focused exploration program for gold on the property. Multiple gold anomalies have been identified which may open an opportunity for additional discoveries.
In addition to the exploration potential, mineral resources have been identified on the property including three deposits collectively referred to as the Caber Complex. These resources represent a potential mine life of nearly 10 years as determined in the PEA prepared by Nuvau.
Nuvau Minerals Holdings
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The property is also unique in the region as it includes extensive existing infrastructure including a permitted, 3,000 tonne per day, processing plant, and the permitted past-producing Bracemac McLeod Mine. This infrastructure will significantly reduce initial capital requirements if the Company reaches the point of restarting production.
2024 Update and Achievements
Founded in 2022, Nuvau has made significant progress, completing a qualifying transaction to begin trading on the TSXV under the symbol of NMC on December 17, 2024. The qualifying transaction also included concurrent financings raising gross proceeds of approximately $9.2 million, resulting in a strong cash position of approximately $12 million at the end of 2024. The financings included participation from certain Quebec investment funds, further building a strong shareholder base.
The work conducted across the property since 2022 has included extensive exploration programs on various specific targets as well as work related to future target generation. Notable achievements from the exploration work programs to date include:
In addition to the diamond drilling program, the Company also initiated a sonic drilling program to test portions of the property covered by overburden. This program aims to identify glacial till anomalies as a means of further developing new exploration targets. Results from the program completed in 2024 are pending.
A property wide technical report was completed in July 2023 and updated in November 2024. This NI 43-101 compliant technical report includes PEA for the Caber Complex.
The Company also took advantage of the benefit Nuvau gains through its access to the infrastructure on the Matagami property and continued work related to the derisking of the potential production restart. This was through early-stage engineering and baseline study work required for the permitting of a new tailing storage facility. In addition, definition drilling was advanced at the Caber Complex for the purpose of mineral resource conversion and to provide samples for metallurgical studies.
For details on the Matagami Property and complete drill results, please see the Technical Report available under the company's profile on SEDAR+.
2025 Objectives
Nuvau's 2025 plans are focused on advancing exploration to continue growing resources, pursuing new discoveries and further advancing plans for a future production decision. Key milestones for 2025 include:
Additionally, Nuvau is advancing plans to update the PEA with the aim of optimizing the Caber Complex mine plan and incorporating the potential restart of the Bracemac McLeod Mine into the economic analysis. Drilling at the Caber Complex will also focus on converting resources and collecting samples for metallurgical studies in preparation for a feasibility study.
About Nuvau
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Table 1 Collar table for the McLeod diamond drilling program
| Hole ID | Azimuth (⁰) | Dip (⁰) | Length (m)* | *Easting (m) | *Northing (m) | Elevation (m) | Wedge Depth (m) |
| MCL-13-31W1 | 12.44 | -82.78 | 1401 | 307938.05 | 5504882 | 263.32 | 681 |
| MCL-13-31W2 | 12.44 | -82.78 | 1434 | 307938.05 | 5504882 | 263.32 | 650 |
| MCL-13-31W3 | 12.44 | -82.78 | 1319.2 | 307938.05 | 5504882 | 263.32 | 831 |
| MCL-13-31W4 | 12.44 | -82.78 | 1515 | 307938.05 | 5504882 | 263.32 | 1287 |
| MCL-13-31W5 | 12.44 | -82.78 | 1527 | 307938.05 | 5504882 | 263.32 | 636 |
*UTM (NAD83 Coordination - Zone 18N). Length is from the drill hole collar and not from the wedge depth.
Table 2 Significant intercepts for the McLeod Deposit drilling program
| Hole ID | From (m) | To (m) | Length (m) | Cu % | Zn % | Au (g/t) |
| MCL-13-31W1 | 1258.8 | 1274.7 | 15.9 | 2.81 | 14.80 | 0.39 |
| Incl | 1260.1 | 1273.5 | 13.4 | 3.13 | 17.09 | 0.43 |
| Incl | 1272.85 | 1273.5 | 0.65 | 10.65 | 11.35 | 1.295 |
| And | 1315.6 | 1316.6 | 1.0 | 0.21 | 5.1 | 0.41 |
| MCL-13-31W2 | 1347.7 | 1354.75 | 7.05 | 4.07 | 10.25 | 1.03 |
| Incl | 1347.7 | 1350.75 | 3.05 | 5.05 | 13.81 | 1.19 |
| Incl | 1347.7 | 1348.55 | 0.85 | 1.17 | 30 | 0.44 |
| MCL-13-31W3 | Abandoned | |||||
| MCL-13-31W4 | No significant mineralization | |||||
| MCL-13-31W5* | 1404 | 1406.7 | 2.7 | 0.09 | 2.02 | 0.06 |
| And | 1438.7 | 1443 | 4.3 | 0.08 | 1.87 | 0.39 |
*Partial assay results received as of the Technical Report effective date
Table 3 Collar table for the 2023-2024 Renaissance diamond drilling program
| Hole ID | Azimuth (⁰) | Dip (⁰) | Length (m) | *Easting (m) | *Northing (m) | Elevation (m) |
| PD1-23-01 | 35 | -60 | 642 | 272597.3 | 5518368 | 273.38 |
| PD1-23-02 | 20 | -50 | 534 | 272589.9 | 5518358 | 273.46 |
| REN-23-01 | 15 | -62 | 465 | 272592.5 | 5518351 | 273.32 |
| REN-23-02 | 151 | -54.4 | 519 | 272481.69 | 5518579.44 | 272 |
| REN-23-03 | 151 | -71 | 690 | 272481.69 | 5518579.44 | 272 |
| REN-24-04 | 332 | -54.5 | 381 | 272727 | 5518313 | 272 |
| REN-24-05 | 334 | -47 | 384 | 272770 | 5518334 | 272 |
| REN-24-06 | 334 | -56 | 465 | 272809 | 5518354 | 272 |
| REN-24-07 | 346 | -69 | 561 | 272809 | 5518354 | 272 |
| REN-24-08 | 326 | -58 | 603 | 272862 | 5518256 | 272 |
| REN-24-09 | 357 | -67 | 393 | 272578 | 5518337 | 270 |
| REN-24-10 | 350 | -47 | 357 | 272591 | 5518360 | 270 |
| REN-24-11 | 325 | -50 | 708 | 272591 | 5518360 | 270 |
| REN-24-12 | 355 | -47 | 372 | 272451 | 5518166 | 270 |
| REN-24-13 | 327 | -47 | 522 | 272371 | 5518123 | 270 |
| REN-24-14 | 346 | -51 | 576 | 272862 | 5518256 | 272 |
*UTM (NAD83 Coordination - Zone 18N)
Table 4 Significant results for the 2023 to 2024 Renaissance drilling program
| Hole ID | From (m) | To (m) | Length (m) | Cu % | Zn % | Au (g/t) |
| PD1-23-01 | 360.3 | 363.4 | 3.1 | 2.11 | 2.78 | 0.38 |
| Incl | 360.3 | 360.75 | 0.45 | 0.32 | 0.33 | 1.75 |
| And | 382.3 | 398.0 | 15.7 | 0.41 | 1.69 | 0.70 |
| And | 386.7 | 399 | 12.3 | 0.50 | 1.18 | 1.15 |
| Incl | 393.5 | 394.2 | 0.7 | 0.40 | 0.19 | 9.3 |
| And | 398 | 399 | 1.0 | 0.01 | 0.08 | 3.49 |
| PD1-23-02 | 92.8 | 122.0 | 29.2 | 0.09 | 1.27 | - |
| Incl | 113.9 | 122.0 | 8.1 | 0.18 | 2.24 | - |
| REN-23-01 | 172.7 | 202.2 | 29.5 | 0.35 | 4.99 | - |
| Incl | 175.8 | 189.3 | 13.5 | 0.39 | 8.00 | - |
| REN-23-02 | 141 | 142.5 | 1.5 | 0.6 | 0.03 | 1.00 |
| REN-23-03 | No significant mineralization | |||||
| REN-24-04 | 278 | 290.25 | 12.25 | 0.5 | 4.76 | 0.16 |
| Incl | 278.5 | 280.5 | 2 | 0.07 | 9.15 | 0.1 |
| Incl | 286.1 | 287.1 | 1 | 2.55 | 0.34 | 0.75 |
| Incl | 288.25 | 288.9 | 0.65 | 0.58 | 11.35 | 0.12 |
| REN-24-05 | 252.2 | 271.7 | 16.5 | 0.07 | 1.14 | 0.02 |
| Incl | 255.2 | 256.2 | 1 | 0.10 | 10.3 | 0.05 |
| REN-24-06 | 312 | 312.8 | 0.8 | 0.09 | 1.55 | 0.05 |
| And | 352.6 | 353.4 | 0.8 | 1.01 | 0.07 | 0.08 |
| REN-24-07 | 490.85 | 495 | 4.15 | 0.05 | 3.44 | 0.02 |
| Incl | 494.25 | 495 | 0.75 | 0.19 | 15.09 | 0.09 |
| REN-24-08 | 466.6 | 468.7 | 2.1 | 0.02 | 1.57 | 0.01 |
| REN-24-09 | 64 | 64.5 | 0.5 | 1.31 | 0.06 | 0.06 |
| And | 68.5 | 69.25 | 0.75 | 1.37 | 0.85 | 0.03 |
| And | 166.7 | 182 | 15.3 | 1.64 | 0.99 | 0.06 |
| Incl | 166.7 | 167.3 | 0.6 | 0.62 | 7.71 | 0.04 |
| Incl | 171.8 | 173.3 | 1.5 | 6.51 | 0.42 | 0.07 |
| And | 208.2 | 210.2 | 2 | 1.26 | 0.06 | 0.02 |
| REN-24-10 | No significant mineralization | |||||
| REN-24-11 | No significant mineralization | |||||
| REN-24-12 | No significant mineralization | |||||
| REN-24-13 | No significant mineralization | |||||
| REN-24-14 | Assays pending | |||||
For additional details on the drill results, please see the Technical Report available through the following link "NI 43-101 Technical Report Matagami Mining Camp Quebec, Canada - Preliminary Economic Assessment for the Caber Complex Project" dated November 11, 2024, as well as under the Company's profile on SEDAR+.
The PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to be categorized as Mineral Reserves with economic considerations. Therefore, there is no certainty that the PEA will be realized.
Assays, Quality Assurance/Quality Control and Drilling and Assay
Gilles Roy P.Geo. (Qc), a "qualified person" as defined by National Instrument 43-101, is responsible for the ongoing drilling and sampling program, including quality assurance and quality control. Drilling completed by Nuvau is being logged and sampled by Laurentia Exploration (Laurentia) geologists applying the procedures developed during Xstrata's and Glencore's operation of the Property. Sampling is confined to visibly mineralized intervals with a minimum of 2 m shoulder samples into unmineralized rock. In addition, sampling was performed on veins and altered zones to check for the presence of gold. Drill core samples are sawn by staff technicians to create half core splits. One split is retained in the drill core box for archival purposes with a sample tag affixed at each sample interval and the other split is placed in a labelled plastic bag along with a corresponding sample number tag and placed in the shipment queue. Quality control samples including blind certified reference material ("CRM"), blank material, and core duplicates are inserted at a frequency of 1 in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Québec. All submitted core samples are crushed in full to 95 % passing less than 2 mm (ALS code CRU-33). A 1000-gram sample was then riffled split from the crushed material and pulverized to 90 % passing 75 μm (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in North Vancouver, British Columbia, for assay. Lead, silver, copper and zinc analyses were determined by ore grade four acid digestion with an inductively coupled plasma atomic emission spectroscopy ("ICP-AES") or atomic absorption spectroscopy ("AAS") finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 30 g fire assay analysis with an AAS finish (code Au-AA23). ALS Canada Ltd. is an accredited, independent commercial analytical firm registered to ISO/IEC 17025:2017 and ISO 9001:2015.
Qualified Person and Quality Assurance
Gilles Roy, P. Geo. (Qc), Director of Exploration of Nuvau and a "qualified person" as defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses,. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) has completed its previously announced management succession process. Dr. Paul West-Sells' role as President of the Company concluded on December 31, 2024 and Mr. Sandeep Singh has assumed the role of President alongside his existing responsibilities as Chief Executive Officer.
"I want to thank Paul for his many contributions towards advancing Casino into a globally significant project. We wish him the very best in his future endeavors." said Sandeep Singh , President & CEO. "Over the course of 2024, we recruited several high caliber professionals to the senior management team and to the Board of Directors. Those additions, together with the strength and dedication of our Yukon -led projects team, have positioned us for success. We look forward to an exciting 2025 for the Casino project."
ABOUT western copper and gold corporation
western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.
The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.
For more information, visit www.westerncopperandgold.com .
On behalf of the board,
"Sandeep Singh"
Sandeep Singh
President and Chief Executive Officer
western copper and gold corporation
Cautionary Note Regarding Forward-Looking Statements
This news 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. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Such forward-looking statements herein include statements regarding the successful transition of leadership roles, the anticipated contributions of the senior management team and Board of Directors, the continued advancement of the Casino project, and the Company's expectations for 2025.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the risk of unforeseen challenges in advancing the Casino project, potential impacts on operational continuity, changes in general market conditions that could affect the Company's performance; and other risks and uncertainties disclosed in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure documents.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the smooth transition of leadership roles, the successful integration of new senior management and Board members, the continued advancement of the Casino project according to established timelines, stable market and regulatory conditions, and such other assumptions and factors as set out herein, and in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure document.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, other factors may cause results to be materially different from those anticipated, described, estimated, assessed or intended. These forward-looking statements represent the Company's views as of the date of this news release. There can be no assurance that any forward-looking statements will be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to and does not assume any obligation to update forward-looking statements other than as required by applicable law.
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VANCOUVER, BC TheNewswire - January 2, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce it has exercised its option (the " Option ") to acquire 40 mining claims in Ontario (the " Zarn Lake Claims ") pursuant to an option agreement dated January 6, 2021 (the " Option Agreement ") between the Company and Paul Riives (" Paul Riives "). The Zarn Lake Claims are contiguous with and form a portion of the Company's flagship Drayton - Black Lake Project (Figure 1,2,3).
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"We are thrilled to exercise our option to Acquire 100% of the Zarn Lake Claims. The District has seen significant strategic capital inflow recent years from major players (Figure 1), we are proud to increase our ownership position supporting our interest in developing the District and its immense potential. Drilling on these claims set to recommence mid to late January 2025, targeting the intersection of two mineralized quartz vein systems
Figure 1: HML Project Portfolio Ontario, Canada
in the immediate vicinity of this highest-grade sample on the project, 2,330 g/t Au. The Zarn Lake Claims also
include key technical areas of interest highlighted from Brett Davis, Advisor to Heritage Mining and Dr. Gregg Morrison, Advisor to Heritage from prior technical analysis October and November 2024." Commented Peter Schloo, President, CEO and Director of Heritage.
" This is an important strategic addition to the HML land package, encompassing extensions of previously unrecognised trends that recent prospecting has confirmed as being prospective for gold mineralisation." Commented Brett Davis, Advisor to Heritage.
To exercise the Option, the Company paid Riives an additional $70,000 cash, issued Riives an additional $50,000 of common shares (" Common Shares ") in the capital of the Company (833,333 Common Shares at a deemed price of $0.06 per Common Share) and incurred an additional $250,000 in project expenditures between the second and the third anniversary of the Option Agreement. Riives retains a 2% net smelter returns royalty on the Zarn Lake Claims with a buy back of 1% for $1,000,000 and an advanced royalty payment of $1,000 per year after the Company commences commercial production on the Zarn Lake Claims.
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Figure 2: DBL Total Property Outline
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Figure 3: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT 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:
Heritage Mining Ltd.
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.
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