The holiday season is a special time of year. At Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") we use this time as an opportunity to reflect on the year that was, and, to design a road map aimed at achieving our goals in 2022.
This time last year, we had concluded the 100% acquisition of the Sandman Gold Project (" Sandman " or the " Project ") from Newmont, located in Nevada. Since then, we increased the Sandman gold resource by 60%. Post the resource estimate increase, we have conducted significant additional work, including:
Our team is gearing up for another drill program at Sandman that will commence in January 2022. The initial program will comprise of 4000m, targeting new discoveries based on the robust science that our team has collated.
Gold Bull's 100% owned Big Balds Project, also located in Nevada is ‘drill ready'. The Company intends to drill test the Big Balds Project in 2022, targeting an undercover geophysical anomaly along strike of Bald Mountain.
The Company is fully funded for both drill programs.
While our team is focused on adding ounces at our existing 100% owned projects, I am continuing our M&A (merger and acquisition) discussions. We have a short list of assets that we are advancing to the next level of due diligence in the pursuit of value adding transactions. In short, if we can acquire existing ounces cheaper than we can explore for them – we believe that represents compelling value for our shareholders. The global markets remain buoyed up by COVID stimulus packages, and inflation appears set to rise which historically abodes well for gold.
I would like to take this opportunity to thank everyone who supported us this year: our communities and stakeholders, Board of Directors, accounts & admin team, advisors and consultants, supportive stockbrokers and I would like to acknowledge the dedication of our Nevada based technical team, comprising of: David Johnson, Regina Molloy, Will Strong, Amy Hannink, Robbie Anderson and technical advisor, John Wood. I am proud of the science that has been utilized to produce our new and exciting drill targets that we look forward to testing in Q1 2022. It is shaping up to be an exciting year for the Company.
Most of all, I thank you, our shareholders, for your continued support. On behalf of Gold Bull, we wish you a Happy and Healthy New Year.
Cherie Leeden - President and CEO, Gold Bull Resources Corp.
About Sandman
In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold ; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 30 km northwest of the mining town of Winnemucca, Nevada.
Qualified Person
Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a "Qualified Person" as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company's Chief Executive Officer. Cherie Leeden relied on resource information contained within the Technical Report on the Sandman Gold Project, prepared by Steven Olsen, a Qualified Person under NI 43-101, who is a Qualified Persons as defined by the National Instrument NI 43-101. Mr Olsen is an independent consultant and has no affiliations with Gold Bull except that of an independent consultant/client relationship. Mr Olsen is a member of the Australian Institute of Geoscientists (AIG) and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects.
About Gold Bull Resources Corp.
Gold Bull's mission is to grow into a US focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The company's exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.
Gold Bull's core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential. Drilling at Sandman is currently underway.
Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.
For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email admin@goldbull.ca .
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
News Provided by GlobeNewswire via QuoteMedia
The Power Play by The Market Herald has announced the release of new interviews with Datametrex and Gold Bull Resources Corp. on their latest news
The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives.
Datametrex (TSXV:DM) launches telemedicine services via the Medi-Call app
Datametrex AI (DM) has introduced telemedicine services via their Medi-Call mobile telehealth application. The Medi-Call app will initially be available in BC, expanding to other provinces over the next several months. Marshall Gunter, CEO of Datametrex sat down with Dave Jackson to discuss the news.
For the full interview with Marshall Gunter and to learn more about Datametrex's news, click here.
Gold Bull (TSXV:GBRC) to extend drilling after discovering high-grade gold
Gold Bull Resources Corp. (GBRC) intersects significant gold mineralization at its Sandman Project in Nevada. The 2022 phase 1 drill program has drilled 15 holes totalling 3,038 metres. The mineralization has given the company confidence to extend the drill program to 5,000 metres. Gold Bull Founder and CEO, Cherie Leeden sat down with Dave Jackson to discuss the news.
For the full interview with Cherie Leeden and to learn more about Gold Bull's news, click here.
Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald.
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News Provided by ACCESSWIRE via QuoteMedia
Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") is pleased to report that the drilling program is progressing as planned at its 100% owned Sandman Project (" Sandman " or the " Project ") located in Humboldt County, Nevada, USA. Assays from the initial batch of samples submitted to the laboratory are anticipated to be received in March.
HIGHLIGHTS & UPDATE:
Gold Bull CEO, Cherie Leeden commented:
The Sandman drilling program is progressing very well on the ground. We eagerly await assay results. In the meantime, the exploration team is working through surface geochemical and geophysical results from the Windmill target area, as well as newly recovered paper records from historic drilling at the Ten Mile prospect. It is nice to see gold hit $1900 in the middle of our drill program.
Background
The current drilling program at Sandman commenced on January 12 th and continues according to plan. A total of nine holes have been completed for 1,722 m (5,648 ft) of a total planned 4,035 m (13,238 ft), with one additional hole in progress at the time of writing. Holes have been completed at North Hill, including a scout hole west of the Mineral Resource Estimate, the Midway target area, and at Silica Ridge (Figure 1). The rig will move to Abel Knoll after the next break.
No assay results have been received from the current drilling program. Assays from the first batch of samples submitted to the laboratory are expected around the second week of March, based on prior lab performance.
Figure 1 Sandman project location plan, with Mineral Resource Estimate surface projections and target areas : https://www.globenewswire.com/NewsRoom/AttachmentNg/cfc4fc03-d761-4baf-97a5-dc0eabf65e53
Next Steps
About Sandman
In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 25-30 km northwest of the mining town of Winnemucca, Nevada.
Qualified Person
Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a "Qualified Person" as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company's Chief Executive Officer. Cherie Leeden relied on resource information contained within the Technical Report on the Sandman Gold Project, prepared by Steven Olsen, a Qualified Person under NI 43-101, who is a Qualified Persons as defined by the National Instrument NI 43-101. Mr Olsen is an independent consultant and has no affiliations with Gold Bull except that of an independent consultant/client relationship. Mr Olsen is a member of the Australian Institute of Geoscientists (AIG) and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects.
Appointment of Corporate Secretary
The Company also announces that Ms. Jennifer Hanson has been appointed to the role of Corporate Secretary. Mr. Gavin Cooper will step down as Corporate Secretary but will remain as Chief Financial Officer.
Ms. Hanson has over 20 years of corporate finance, accounting and regulatory experience in several industries. She currently is Corporate Secretary for several Canadian-listed public companies.
About Gold Bull Resources Corp.
Gold Bull's mission is to grow into a US focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The company's exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.
Gold Bull's core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential. Drilling at Sandman is currently underway.
Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.
Cherie Leeden
President and CEO, Gold Bull Resources Corp.
For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email admin@goldbull.ca .
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
News Provided by GlobeNewswire via QuoteMedia
Horizon Minerals’ near-term cash-flow potential and its significant land package in the prolific Western Australian goldfields with considerable exploration upside position the company to positively leverage the current bull gold market opportunity.
Horizon Minerals (ASX:HRZ) is an ASX-listed emerging mid-tier gold mining company focusing on a portfolio of highly promising gold projects located in the world-class Western Australian goldfields. The recent merger with Greenstone has added nearly 0.5 million ounces (Moz) of high-grade resource to Horizon, taking its total tally to 1.8 Moz, and resulted in Horizon Minerals total land package of 939 sq km in the Kalgoorlie-Coolgardie district.
The Greenstone merger brings near-term cash-generating opportunities and adds greater scale to its baseload assets (Boorara) with the high-grade Burbanks deposit. Horizon’s dual-track strategy involves generating immediate cash flows by leveraging a pipeline of development-ready production assets and concurrently advancing the cornerstone assets, Boorara and Burbanks, which have a combined resource inventory of 914 koz at 1.7 grams per ton (g/t) gold with potential to support a profitable, long-life operation.
The recent ore sale agreement with Paddington Gold is encouraging and increases confidence in the management’s ability to generate near-term cash flows. Under the agreement, 1.4 million (Mt) will be processed over a period of 22 months. The agreement allows Horizon to capitalize on high gold prices to generate significant cash flows.
Horizon is also progressing with other projects, including the Cannon gold project and Penny’s Find underground mine, and actively exploring for new discoveries in the Western Australian Goldfields, targeting gold and other commodities such as nickel-cobalt, silver-zinc, PGEs and lithium across its extensive land holdings. Additionally, Horizon holds a significant stake in one of the world’s largest vanadium projects via its investment in Richmond Vanadium Technology, which is listed on the ASX.
Horizon proposes to acquire 100 percent of Poseidon via an all-scrip transaction for AU$30 million to consolidate 1.8Moz gold and highly strategic processing infrastructure for Horizon to transition to the next standalone WA gold producer. The acquisition will combine Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts. The transaction will further result in substantial resource base and regional tenure to a combined JORC mineral resources of ~1.8Moz gold at an average grade of 1.84g/t gold and 422,700t nickel at an average grade of 1 percent nickel. Horizon and Poseidon will have a total of 1,309 sq. km. tenure in an attractive geological position in the WA Goldfields.
Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion and recommissioning of the Black Swan processing plant. The 2.2Mtpa processing facility is strategically located 40 km north of Kalgoorlie with a concentrator readily amenable to processing gold through cost-effective refurbishment and the addition of a new CIL circuit.
Horizon's 30Mt existing gold resources, with 50,000 metres of drilling fully funded to commence drilling in 2025 or 2026, strongly support the conversion of the Black Swan processing plant to a gold plant.
The Boorara gold project is located 15 km east of Kalgoorlie-Boulder in the Western Australian goldfields. Over the past decade, a substantial amount of reverse circulation and diamond drilling has been carried out at Boorara. The project includes a JORC 2012 mineral resource estimate (MRE) by Optiro (now Snowden Optiro), which reported a total of 10.53 Mt grading at 1.26 g/t gold, amounting to 448,000 ounces.
The company views Boorara as a substantial baseload feed source that could be enhanced by lower tonnage, higher-grade feed to sustain a standalone milling facility. This is where the recent acquisition of Greenstone becomes important. Boorara can be supplemented by higher-grade feed from Greenstone’s Burbanks deposit to support an integrated operation.
The Independent JORC (2012) Ore Reserve for Boorara, completed by AMC Consultants, shows a financially viable project highlighted by an open pit mine design producing 1.24 Mt at a fully diluted grade of 1.24 g/t gold for 49.5 koz over an approximate 14-month mine life, and ore sale agreement at 92.5 percent metallurgical recovery produces 45.8 koz recovered.
Boorara commenced open pit mining in August 2024, with the first ore exposed and mined in late September 2024. Mining at the site will occur over 14 months and processing over 19 months at Norton Gold Fields’ Paddington plant to generate $30 million in estimated free cashflow at a AU$3,600/oz gold price.
The Phillips Find gold project is located 45 km north-west of Coolgaride, Western Australia in the heart of the Western Australian goldfields covering 10 kilometres of strike over prospective greenstone stratigraphy. The project includes the Phillips Find Mining Centre (PFMC) where approximately 33,000 ounces of gold were produced between 1998. A joint venture (JV) agreement is in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find. Horizon Minerals plans to commence the grade control program early in December and the first mining of ore in December 2024. The first ore from Phillips Find is on track to be treated at FMR’s Greenfields mill from February 2025 to June 2025
The 100 percent owned Nimbus silver-zinc-lead-gold deposit is located 15 kilometres east of Kalgoorlie-Boulder in Western Australia within the Kalgoorlie Terrane. The project's current mineral resource estimate (JORC 2012) includes 12.1 million tons at 52 g/t silver, 0.2 g/t gold and 0.9 percent zinc containing 20.2 million oz of silver, 78,000 oz of gold and 104,000 tons of zinc using lower cut-off grades of 12 ppm for silver, 0.5 percent for zinc and 0.3 g/t for gold over a 2 metre down hole composite. Within this global resource, the Nimbus project has a high-grade silver and zinc resource of 255,898 tons at 773 g/t silver and 13 percent zinc.
A concept study has confirmed the optimal economic development pathway by mining the higher-grade lodes and generation of a silver/zinc concentrate. A programme of work (POW) has been approved and drilling to test the exploration target is expected to be undertaken in the first half of 2025. The Nimbus project is 2 km east of Horizon's cornerstone Boorara project and 6.5 km north-northwest of Golden Ridge, both historic gold mining centres.
The Burbanks gold project is situated 9 km southeast of Coolgardie, Western Australia. The project encompasses the Burbanks Mining Centre and more than 5 kilometers of the highly promising Burbanks Shear Zone, historically the most significant gold-producing structure within the Coolgardie Goldfield. Previous underground production at Burbanks has surpassed 420,000 oz to date.
Burbanks currently hosts a total resource of 6.1 Mt @ 2.4 g/t gold for 466 koz, including underground of 1.2 Mt @ 4.4 g/t gold for 168 koz. Burbanks is underexplored and remains open in all directions for future growth.
The Cannon gold project is located 30 km east-southeast of Kalgoorlie-Boulder. It is a fully permitted project with a pre-feasibility study completed in 2022, which shows strong project economics with a free cash flow of AU$10.1 million over the mine's life. The company has finished commissioning a dewatering pipeline and a pumping system, representing a major milestone in the advancement of its Cannon Underground project. Discussions with mining contractors and potential JV mining partners are underway. First ore production from the Cannon Project is expected to commence in Q4 2024.
Penny’s Find is about 50 km northeast of Kalgoorlie in the Eastern Goldfields of Western Australia, near the company’s wholly-owned Kalpini gold project. It comprises a granted mining lease and other associated leases covering 91 hectares. The mineral resource estimate updated in December 2023 boasts 63,000 ounces of gold in the indicated and inferred category. A pre-feasibility study for exploitation using underground mining methods is currently underway. This study will include mine design and financial analysis.
Rose Hill is 0.5 km southeast of Coolgardie and 35 km west of Kalgoorlie-Boulder, on the western edge of the Archean Norseman-Menzies Greenstone Belt. The current JORC 2012 resource at Rose Hill contains 93,300 oz , comprising an open-pit mineral resource of 0.3 Mt grading 2.0 g/t gold for 18,400 oz, and an underground mineral resource of 0.5 Mt grading 4.6 g/t gold for 74,900 oz. Nearly 70 percent of the resource is in the measured and indicated JORC categories.
Horizon owns several promising tenements within the Kalgoorlie region. These project areas include the greater Boorara-Cannon project area, Lakewood, Binduli-Teal project area, Kalpini, Balagundi-Kanowna South and Black Flag.
Horizon manages several promising tenements within the Coolgardie region, including Rose Hill, Brilliant North and Yarmany.
Ashok Parekh has over 33 years of experience advising mining companies and service providers in the mining industry. He has spent many years negotiating mining deals with publicly listed companies and prospectors, leading to new IPOs and the initiation of new gold mining operations. Additionally, he has been involved in managing gold mining and milling companies in the Kalgoorlie region, where he has served as managing director for some of these firms. Parekh is well-known in the West Australian mining industry and has a highly successful background in owning numerous businesses in the Goldfields. He was the executive chairman of ASX-listed A1 Consolidated Gold (ASX:AYC) from 2011 to 2014. He is a chartered accountant.
Warren Hallam is currently a non-executive director of St Barbara Limited and Poseidon Nickel Limited, and non-executive chairman of Kingfisher Mining Limited. Hallam has a built a strong track record over 35 years in operations, corporate and senior leadership roles across multiple commodities. This includes previous Managing Director roles at Metals X Limited, Millenium Metals Limited and Capricorn Metals Limited. Hallam is a metallurgist with a Master in Mineral Economics from Curtin University.
Grant Haywood brings over three decades of experience in both underground and open-cut mining operations. During his career, he has served in senior leadership capacities in various mining companies, guiding them from feasibility through to development and operations. His experience spans various roles within junior and multinational gold mining companies, predominantly in the Western Australian goldfields, including positions at Phoenix Gold, Saracen Mineral Holdings, and Gold Fields. He is a graduate of the Western Australian School of Mines (WASM) and has also earned a Masters in Mineral Economics from the same institution.
Julian Tambyrajah is an accomplished global mining finance executive with more than 25 years of industry expertise. He is a certified public accountant and chartered company secretary. He has served as CFO of several listed companies including Central Petroleum (CTP), Crescent Gold (CRE), Rusina Mining NL, DRDGold, and Dome Resources NL. He has extensive experience in capital raising, some of which includes raising US$49 million for BMC UK, AU$122 million for Crescent Gold and AU$105 million for Central Petroleum.
Stephen Guy is a geologist with over 25 years of experience in the mining industry, specialising in exploration, production, and project start-ups for both open pit and underground operations. His career spans key regions in Australia, including Western Australia, New South Wales, and Queensland, where he has collaborated with leading companies such as BHP, Newcrest, St Barbara Gold, Fortescue Metals Group (FMG), and Gindalbie Metals. Guy’s expertise covers a diverse range of commodities, including gold, copper, nickel, base metals, and iron ore.
(All amounts expressed in Canadian dollars unless otherwise noted)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle ") and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (" O3 Mining ") are pleased to jointly announce that Gold Fields Limited, through a 100% indirect Canadian subsidiary (" Gold Fields "), O3 Mining's largest shareholder, has agreed to a lock-up agreement with Agnico Eagle to tender its common shares of O3 Mining (" Common Shares ") into Agnico Eagle's offer to acquire all of the outstanding Common Shares for $1.67 per Common Share in cash by way of a take-over bid (the " Offer "). See O3 Mining and Agnico Eagle's joint news release of December 12, 2024 for a detailed description of the Offer. A copy of the December 12, 2024 joint news release is available at: https:www.agnicoeagle.comEnglishinvestor-relationsnews-and-eventsnews-releasesnews-release-details2024Agnico-Eagle-to-Acquire-O3-Mining-in-Friendly-Transactiondefault.aspx .
Gold Fields owns approximately 17% of the outstanding Common Shares on a basic basis. Including its lock-up agreement with Gold Fields, Agnico Eagle has now entered into lock-up agreements with O3 Mining shareholders owning an aggregate of approximately 39% of the outstanding Common Shares on a basic basis, including each of the directors and officers of O3 Mining.
The offer price of $1.67 per Common Share represents a premium of 57% to the volume weighted average price of the Common Shares on the TSX Venture Exchange for the 20-day period ended December 11, 2024 (the last trading day prior to announcement of the Offer). The Offer has been unanimously recommended by the O3 Mining Board of Directors and Special Committee of independent directors.
How to Tender Your Shares; Postal Strike
Only O3 Mining shareholders who tender their Common Shares will receive the cash consideration of $1.67 per Common Share. For information on tendering your Common Shares please contact Laurel Hill Advisory Group at assistance@laurelhill.com .
Shareholder type: | How do I tender my Common Shares to the Agnico Eagle Offer? |
Beneficial Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice. | Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer. |
Registered You are a registered shareholder if you hold your Common Shares directly and may have a share certificate or DRS advice. | Contact Laurel Hill Advisory Group: |
In light of the Canada Post labour strike , shareholders are encouraged to stay up to date on the Offer by visiting: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx . Shareholders are also asked not to mail in any Letter of Transmittal or share certificates. Instead, shareholders may contact Laurel Hill Advisory Group.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada , adjacent to Agnico Eagle's Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.
About Agnico Eagle Mines Limited
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve 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 such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of commencement and expiration, mechanics, funding, completion, settlement, results and effects of the Offer, the expected outcomes of completion of the transaction and the other benefits of the transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that the Offer will be made in accordance with the definitive support agreement in respect of the Offer and will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.
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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SOURCE O3 Mining Inc.
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