C3 Metals Discovers High Grade Copper - Silver at Arthurs Seat, Jamaica

C3 Metals Discovers High Grade Copper - Silver at Arthurs Seat, Jamaica

C3 Metals Inc. (TSXV: CCCM) ("C3 Metals" or the "Company") is pleased to report surface reconnaissance results from mapping and sampling at the Arthurs Seat Project in Jamaica (Figure 1). Arthurs Seat is one of four Jamaican projects owned 100% by the Company and is located adjacent to the Company's Bellas Gate property where the Company has commenced a 5,000 metre drill program.

Exploration to date at Arthurs Seat has defined a 6.75 km2 prospective area of copper mineralized veins and breccias interpreted to represent the upper part of an underlying porphyry system. Magnetics, mapping and detailed prospecting are continuing.

Exploration Highlights:

  • Assays up to 13.8% copper and 492g/t silver; 11 rock samples >4% Copper
  • 55 copper mineralized samples collected over 4.5km by 1.5km
  • Multiple zones of primary and secondary copper mineralization highlights significant potential for a high-grade, intermediate high-sulphidation epithermal copper deposit

Kevin Tomlinson, President and CEO of C3 Metals commented;

"Additional to our drill program in progress at Jasperoide in Peru, we have commenced drilling the highly compelling Epidote Ridge copper-gold porphyry target within the Bellas Gate SEPL, Jamaica. Separately, our small exploration team in Jamaica is also prospecting and sampling a number of tenements that have not been explored for over 40 years. The discovery of widespread copper mineralization including some exceptional high-grade samples at Arthurs Seat is a testament to the prospectivity of our Jamaica tenement package. As the drill program at Bellas Gate progresses, we will continue surface exploration at Arthurs Seat and other high potential prospects. We look forward to providing further updates as results are received."

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Figure 1: Showing location of Arthurs Seat SEPL, located atop the Crawl River Fault.

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Exploration Background and Update

The Arthurs Seat Special Exclusive Prospecting License ("SEPL") is situated directly over the regionally significant Crawl River Fault Zone and associated splays, a major structure controlling copper-gold mineralization in Jamaica. Mining was undertaken by the Spanish in the 16th Century and the British in the 19th Century. No modern-day exploration has been carried out within the Arthurs Seat SEPL since a reconnaissance program was conducted by Noranda Inc. in the mid 1960's. A stream/heavy mineral sampling program funded by the Canadian International Development Agency (CIDA) was completed in the 1980's.

Arthurs Seat is contiguous to our highly prospective Bellas Gate SEPL, where at least 12 porphyry prospects have been confirmed along Porphyry Alley and where the Company has commenced a 5,000-metre diamond drilling program to test a number of compelling copper-gold targets (see press release dated May 27, 2022).

The Company recently completed geological mapping and prospecting over a 10 km2 area in the eastern part of Arthurs Seat. A total of 103 rock samples were collected from mineralized intermediate sulfidation style epithermal quartz veins and breccias that cross-cut andesitic volcanic-volcaniclastic rocks and Cretaceous aged limestones of the Arthurs Seat Formation. Copper mineralization comprises primary bornite, tennantite-tetrahedrite and associated secondary copper species including native copper (Figure 2). Of the 103 samples collected, 55 assayed greater than 0.15% copper with numerous samples of both outcrop and float reporting high grades up to 13.8% copper and 492g/t silver (Figure 3, Table 1).

Table 1: Copper and silver assays for select samples collected at Arthurs Seat

SampleEastingNorthingElvTypeAg
(g/t)
Cu
(%)
7671342647662006617328Float49213.80
7671362647192006613337Float36911.80
7671372637732005524268Float124.38
7671382618472005264247Float31.61
7672392639672004589340Outcrop71.79
7672412642882005213313Outcrop91.87
7672422642872005200313Outcrop122.69
7672432643182005185324Outcrop121.91
7672442644062005378271Outcrop81.95
7672552650042006444309Outcrop182.63
7672572654792006632345Outcrop52.05
7672992642902005213313Outcrop204.06
7673832627132004571213Float75.75
7674242644032005408263Float174.76
7674262655652006520384Float264.06
7674282642242005337259Float255.41
7674302642662005244296Float334.08
7674352625292004578220Float965.08
7674422619562005365244Float486.60

 

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Figure 2: TOP LEFT - Breccia sample (767134) containing primary copper minerals bornite and tennantite-tetrahedrite. TOP RIGHT - Porphyritic andesite (767137) cut by copper bearing tennantite-tetrahedrite veins. BOTTOM LEFT - Quartz vein with secondary copper minerals including native copper. BOTTOM RIGHT - Porphyritic rock containing secondary copper (azurite - malachite) veins.

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Figure 3: Eastern area of Arthurs Seat SEPL showing locations of outcrop and float samples.

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Geological mapping and prospecting will continue at Arthurs Seat and ridge/spur soil sampling has been initiated over the eastern SEPL area. The team is assessing the rock sample results in conjunction with new mapping to formulate plans for ground geophysics and drill testing.

Additional updates are planned as information and assays are received.

For additional information, contact:

Kevin Tomlinson
President & CEO
+1 416 841 5122
ktomlinson@c3metals.com

ABOUT C3 Metals Inc.

C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits. The Company's flagship project is the 57km2 Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). C3 Metals also holds a 100% interest in five licenses covering 207km2 of highly prospective copper-gold terrain in Jamaica and a 2% royalty in Tocvan's Rogers Creek project.

Related Link: www.c3metals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

QP Statement

Stephen Hughes, P.Geo. is Vice President Exploration and a Director for C3 Metals and is a Qualified Person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information in this news release and approves the written disclosure contained herein.

Technical Program

C3 Metals adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

Samples are analysed by 4-Acid digest ICP-MS finish for 63 elements, including pathfinder REE elements with pulps from samples reporting greater than 1.0% copper being re-assayed by the ore grade method. Gold is analysed by 30g Fire Assay AAS finish, with pulps from samples reporting greater than 5ppm re-assayed by 1kg Screen Fire Assay. The Company inserts blanks and certified reference standards in the sample sequence for quality control.

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the exploration operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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C3 Metals Discovers Large-Scale Epithermal Gold-Copper Vein System at Arthurs Seat, Jamaica

C3 Metals Discovers Large-Scale Epithermal Gold-Copper Vein System at Arthurs Seat, Jamaica

Rock Chips Assayed up to 14.2 g/t Gold and 5.2% Copper

C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to report the discovery of a large-scale, intermediate sulfidation epithermal gold and copper vein swarm at the Company's 100% owned Arthurs Seat project. First rock chip assays from this discovery returned up to 14.2 gt Au, 5.2% Cu and 53 gt Ag. The Arthurs Seat project is in the highly prospective Crawle River-Rio Minho Fault Porphyry and Epithermal District ("CRF District") of Jamaica.

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C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce it has intersected 309 metres at 0.44% Cu and 0.33 gt Au beginning 15 metres down hole. This result is from 330 metres of a 703 metre drill hole at the Company's 100% owned Bellas Gate Project in Jamaica. Two additional holes have been completed at the Epidote Ridge target (assays pending) within Bellas Gate. The total program is anticipated to be 5,000 metres. Bellas Gate, as well as C3 Metals' other projects in Jamaica, sit within the highly prospective Crawle River-Rio Minho Fault Porphyry and Epithermal District ("CRF District").

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C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce further outstanding results from its Phase 2 drilling program at the Jasperoide copper-gold skarnporphyry project in Peru. The recently completed Phase 2 drill program comprising a total 6,811m in 20 drill holes has delineated a near surface, high-grade oxide copper-gold deposit at the Montaña de Cobre Zone ("MCZ") and tested copper-sulphide mineralization at the nearby Cresta Verde Zone ("CVZ").

Phase 2 Drilling Program Highlights:

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Dan Symons brings over 15 years of mining industry related experience in business development, corporate development and investor relations with a number of highly successful junior-mid tier growth companies. Mr. Symons joins C3 Metals from Argonaut Gold where he most recently held the position of Vice President - Corporate Development and Investor Relations. Prior to this he was a key member of the Romarco Minerals Inc. executive management team in the role of Vice President, Business Development and Investor Relations. Mr. Symons has been actively involved in multiple M&A transactions totalling over $800 million and equity and debt financings totalling over $650 million and $500 million, respectively. Mr. Symons commenced his career with Renmark Financial Communications, a leading North American IR firm, and is an active member of the Canadian Investor Relations Institute. Mr. Symons holds an Honours B.A. from Concordia University in Montreal.

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C3 Metals Secures 272 sq km Land Package Around Jasperoide, Peru

C3 Metals Secures 272 sq km Land Package Around Jasperoide, Peru

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C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce that it has significantly expanded its land holdings around its highly prospective Jasperoide project in the world class Andahuaylas-Yauri skarnporphyry copper belt of southern Peru. The Company and its subsidiaries now control a total of 272 sq km (27,198 hectares) comprising 100% of 49 claims covering 267 sq km (26,698 hectares) and the right to earn 100% in two additional third-party claims covering 5 sq km (500 hectares).

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Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.

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Highlights from 2024 West Tundra Flats Drill Holes:

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IZM has a business address at Lena-Chris-Str 9, Nuebiberg, Germany. The services to be provided will be overseen by Mathias Voigt, President of the company, who can be contacted at mv@i-z-m.info. Mr. Voigt owns 150,000 shares of the Company.

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Heritage Mining Further Expands Land Position and Provides Exploration Update

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(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - November 19, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the claim package expansion at its flagship Drayton Black Lake (" DBL ")  based on experts recommendations Brett Davis and Dr. Gregg Morrison in addition to an update on the ongoing 2024 exploration program over the Ontario Project Portfolio. The Company believes the progress achieved to date represents important milestones for systematic exploration in one of the last underdevelopment greenstone belts in Northwestern Ontario.

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Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

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Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") a North American focused copper exploration company is pleased to announce that it has entered into an agreement with Independent Trading Group ("ITG") to act as lead agent and sole bookrunner in connection with a "best efforts" private placement (the "Offering") for aggregate gross proceeds of up to $3,000,000 from the sale of the following:

  • up to 6,666,666 units of the Company (the "Units") at a price of $0.15 per Unit for gross proceeds of up to $1,000,000 from the sale of Units; and
  • up to 10,526,315 common shares of the Company (the "FT Shares", and together with the Units, the "Offered Securities") at a price of $0.19 per FT Share for gross proceeds of up to $2,000,000 from the sale of FT Shares. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).

Each Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the Closing Date (as defined below).

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