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Pacgold is one of Australia’s most compelling gold exploration opportunities, backed by a strong technical team, offering investors exposure to a large-scale, underexplored gold system with significant resource growth potential.
Pacgold (ASX:PGO) is an Australian gold exploration company focused on the systematic advancement of the Alice River gold project in Northern Queensland. The company is led by a technically driven and highly experienced team of geologists and mining professionals, with demonstrated success in exploration, resource development and capital markets.
Pacgold team on site at Alice River gold project
With a dominant land position in the region, Pacgold holds 377 sq km of exploration permits and eight mining leases across the prospective Alice River Fault Zone (ARFZ). This structure is interpreted as part of a large-scale intrusion-related gold system, with characteristics analogous to major global deposits such as Fort Knox (USA) and Hemi (Western Australia).
The company has validated its model through drilling success at the Central Zone, culminating in a maiden mineral resource of 474,000 oz of gold. This comprises both open pit and underground components, with resource grades averaging 1.2 grams per ton (g/t) gold, and zones open in all directions. Less than five percent of the strike length has been tested, and much of the prospective corridor is obscured by thin sand cover, highlighting strong potential for blind discoveries.
With extensive infrastructure already in place, including an airstrip, accommodation camp and road access within 100 km, Pacgold is positioned to rapidly scale exploration and accelerate resource growth. The 2025 campaign, which includes more than 10,000 metres of RC drilling and new IP surveys, aims to unlock the full regional potential of the ARFZ.
The Alice River gold project is a large-scale, greenstone-hosted gold system centred on the regional ARFZ, located in Northern Queensland. The project area comprises 377 sq km of contiguous tenure, including eight granted mining leases. Pacgold controls over 30 km of strike length along the ARFZ, a major crustal-scale structure that has only recently been systematically explored with modern techniques.
The deposit style is interpreted as an intrusion-related gold system, a highly attractive deposit type known for hosting long-life, large-tonnage gold mines. Examples include the Fort Knox gold mine in Alaska and the Hemi gold project in Western Australia. The Alice River system features sheeted quartz-sulfide veining, extensive sericite-altered zones, and strong IP chargeability responses coincident with surface gold anomalism.
Pacgold’s 2024 and 2025 drilling campaigns have focused on the Central Zone, which yielded the maiden MRE totaling 474,000 oz gold across both open pit and underground resources. The pit-constrained resource includes 10.6 Mt at 1.2 g/t gold (404,000 oz), with a further 1.5 Mt at 1.4 g/t gold (71,000 oz) defined for underground potential. High-grade zones remain open at depth and laterally, with drill spacing still relatively broad (~80 x 80 metres), leaving significant scope for resource expansion.
Beyond the Central Zone, the company has delineated multiple high-priority regional targets along the ARFZ. These include:
Drilling recommenced in April 2025, with RC drilling underway and air-core and diamond drilling scheduled through Q3 2025. The program aims to increase drill density in resource zones and test underexplored regional anomalies. Pacgold expects up to 15,000 metres of total drilling during the 2025 campaign, coupled with ongoing geophysical targeting, including IP and drone magnetics.
The project is fully permitted, with strong access and logistics, and is located in a low-risk jurisdiction with significant precedent for gold development. With limited historical exploration and clear mineralizing controls now defined, Alice River represents a transformative opportunity to uncover a Tier 1 discovery in an overlooked Australian belt.
Matthew Boyes is a geologist with over 28 years of international experience across mine geology, exploration, corporate leadership and capital markets. He has managed exploration teams and development projects across Western Australia, the Americas and Europe. His technical oversight and commercial strategy guide Pacgold’s resource growth and investor engagement.
A former head of business development at BHP and currently head of technical services at Thiess, Caoilin Chestnutt brings nearly 30 years of experience in global exploration strategy, M&A and deal structuring across multiple commodities. She is also deputy chair of Critical Minerals at the Queensland Exploration Council.
Michael Pitt is the co-founder of New Century Resources (ASX:NCZ), and former VP of business development at Sibanye-Stillwater (JSE:SSW). He currently leads development at Broken Hill Mines. His expertise in mine redevelopment and business strategy supports Pacgold’s long-term operational execution.
Former CFO and GM commercial at Chalice Mining (ASX:CHN), Richard Hacker played a key role in the Julimar discovery. He has held leadership roles at Liontown Resources and DevEx. Hacker contributes deep experience in financial oversight and strategic planning for discovery-stage companies.
Bruce Kendall is an award-winning exploration geologist with over 30 years in exploration management at AngloGold Ashanti, Chalice Mining, Jabiru Metals and IGO. He was a key contributor to the Tropicana, Julimar and Coyote discoveries, and brings essential geological insight to Pacgold’s targeting and evaluation.
As a Competent Person and seasoned exploration geologist, Geoff Lowe is responsible for executing Pacgold’s field campaigns. He has played a central role in resource modeling, target generation and drill program design for the Alice River project.
Advancing the Alice River Gold Project in Northern Queensland with Tier 1 discovery potential
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Kobo Resources Inc. (" Kobo " or the " Company ") ( TSX.V: KRI ) is pleased to announce that, due to strong investor demand, it has upsized its previously announced non-brokered private placement of units (the " Offering ").
Edward Gosselin, CEO and Director of Kobo commented: " The successful completion of the Company's private placement and upsize represents an important milestone for Kobo, demonstrating the market's confidence in our team and in our 100%-owned Kossou Gold Project. Having the overwhelming support of existing and new shareholders, we can build on this foundation for aggressive growth at Kossou as we continue to develop our key assets and create value for all stakeholders . "Importantly, we are glad that Luso Global Mining, one of our key shareholders, is a participant in the financing and has elected to maintain its 9.9% interest. We are excited to build on our strategic partnership with Luso Global Mining as we expand our presence in Cote D'Ivoire through the Kossou Gold Project and explore future opportunities. "
The upsized Offering is for up to 13,899,902 units of the Company (the " Units ") at a price of $0.30 per Unit for gross proceeds of up to approximately $4,169,970.60, increased from the previously announced 10,000,000 Units for gross proceeds of up to $3.0 million.
The Units will be issued pursuant to exemptions from the prospectus requirements in accordance with National Instrument 45-106 – Prospectus Exemptions (or, in Québec, Regulation 45-106 respecting Prospectus Exemptions ) (" NI 45-106 ").
Each Unit will be comprised of one Common Share and one-half of one common share purchase warrant (each whole common share purchase warrant (" Warrant "). Each whole Warrant will entitle its holder to acquire one Common Share at a price of $0.55 per share for a period of 24 months from the closing of the first tranche of the Offering. The securities underlying the Units will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.
The Company intends to use the net proceeds of the Offering to pursue its 2025 exploration plans as initiated in H1-2025 and extend the known zones of mineralisation at its three main targets, the Road Cut Zone, Jagger Zone and Kadie Zone on the Kossou Gold Project, initiate preliminary metallurgical work and further develop its ongoing soil geochemical and trenching survey at Kossou as well as to enhance the geological exploration program on the Kotobi research permit and other regional exploration targets, and for general corporate and working capital purposes.
Further to the upsize, closing of the Offering is expected to occur on or about September 5, 2025 (the " Closing "), and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The Units, Common Shares and Warrants have not been registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with an exemption from such registration requirements. This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou's Gold Project . Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.
Beyond Kossou , the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.
Kobo's common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com .
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", "anticipates", "plans", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, but are not limited to, statements regarding the Company's ability to obtain requisite approvals, including approval of the TSX Venture Exchange for the Offering; the completion of the Offering, on the terms described herein or at all; the anticipated closing date for the Offering; the proposed use of proceeds; the completion of the Company's business objectives, and the timing, costs, and benefits thereof; development and exploration costs; and the Company's exploration program.
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 the 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: general business, economic, competitive, political and social uncertainties; The inherent risks involved in the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive requisite approvals; and other risk factors listed from time to time in our documents filed with Canadian Securities regulators on SEDAR+ at www.sedarplus.ca . 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 the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250827997181/en/
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
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HIGHLIGHTS:
Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.
Heliostar CEO, Charles Funk, commented, "In 2025, Heliostar will drill more metres than we have in our entire Company's history. We intend to drill between 40,000-50,000 metres from the close of the mine acquisitions late last year to the end of 2025. This drilling is being funded by cashflows from our operating mines. We are particularly excited to be undertaking our largest program at Ana Paula. These first results highlight the consistency of gold mineralization at the High Grade Panel, where we have two rigs turning. One is focused on resource drilling to grow the resource and to convert inferred to higher confidence ounces, and the second is with a geotechnical focus to support the Feasibility Study. These are the first of consistent, drill results planned to be released monthly from Ana Paula through 2025 and into 2026."
Drilling Program
Heliostar has two rigs turning with 18 holes completed and 5,556 metres drilled to date. Drilling is designed along north-south sections with angled holes to best define the overall east-west orientation of the High Grade Panel. Heliostar's drilling approach at Ana Paula has been to rotate drilling by approximately 90 degrees from the majority of historic intercepts. This change has been interpreted by the Company to have contributed to demonstrating more continuous and higher-grade gold mineralization within the High Grade Panel than previous operators recognized.
Where appropriate, the holes are also being used to collect rock strength data, hydrogeologic data and samples for further metallurgical studies that will directly influence the Ana Paula mine design in the ongoing Feasibility Study.
Drill Results Summary
Holes AP-25-323 and AP-25-325 are resource conversion holes drilled at the western end of the High Grade Panel. Hole AP-25-323 was drilled further west than the most prospective polymictic breccia host unit and still returned a number of attractive intercepts, including 12.2 metres ("m") grading 8.73 grams per tonne ("g/t") gold from 344.5 m.
AP-25-325 is located ~30m southeast of AP-25-323 and intercepted the favourable breccia host unit. The hole returned a wide, high-grade interval of 30.2 m grading 6.29 g/t gold from 195.8 m and a number of deeper intercepts that have the potential to expand the resource, including 4.5 m grading 12.6 g/t gold from 277.5 m downhole beneath the High Grade Panel.
Holes AP-25-322 and AP-25-324 are geotechnical holes for mine development planning and returned assay results in line with expectations, including a hit of 14.75 m grading 13.6 g/t gold from 153.5 m in AP-25-322.
Drilling continues at the less well-defined western edge of the High Grade Panel, with results from three additional holes pending from this area. Recently, drilling has been focused in the centre of the High Grade Panel with assays from seven holes pending from this area.
The next Ana Paula drill results are anticipated to be released in mid- to late September.
Figure 1: Plan Map of the current drill program at Ana Paula
To view an enhanced version of this graphic, please visit:
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Figure 2: Cross-Section through hole AP-25-325
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Drilling Results and Coordinates Tables
Hole ID | From (metres) | To (metres) | Interval (metres) | Au (g/t) | Topcut Au (to 64 g/t) | Hole Purpose |
AP-24-322 | 21.8 | 43.0 | 21.2 | 3.77 | Geotechnical Hole | |
and | 113.5 | 134.45 | 20.95 | 6.67 | ||
and | 153.5 | 168.25 | 14.75 | 13.6 | 11.6 | |
including | 164.4 | 168.25 | 3.85 | 45.1 | 37.2 | |
and | 245.2 | 255.75 | 10.55 | 2.14 | ||
AP-24-323 | 195.5 | 199.5 | 4.0 | 7.81 | Resource Hole | |
and | 224.5 | 235.5 | 11.0 | 2.26 | ||
and | 344.5 | 356.7 | 12.2 | 8.72 | ||
including | 353.0 | 356.7 | 3.7 | 24.4 | ||
AP-25-324 | 52.0 | 65.2 | 13.2 | 2.73 | Geotechnical Hole | |
including | 64.15 | 65.2 | 1.05 | 18.4 | ||
AP-25-325 | 81.4 | 94.5 | 13.1 | 2.10 | Resource Hole | |
and | 195.8 | 261.0 | 65.2 | 3.81 | ||
including | 195.8 | 226.0 | 30.2 | 6.29 | ||
and | 277.5 | 282.0 | 4.5 | 12.6 | ||
and | 295 | 301.0 | 6.0 | 2.25 | ||
and | 369.6 | 371.9 | 2.3 | 6.43 |
Table 1: Significant Drill Intersections
Drilling Coordinates Table
Hole ID | Easting (WGS84 Zone 14N) | Northing (WGS84 Zone 14N) | Elevation (metres) | Azimuth (°) | Inclination (°) | Length (metres) |
AP-25-322 | 410,129 | 1,998,045 | 924.3 | 180 | -55 | 269.4 |
AP-25-323 | 410,055 | 1,998,154 | 954.2 | 180 | -55 | 431.0 |
AP-25-324 | 410,205 | 1,998,017 | 932.4 | 180 | -50 | 59.4 |
AP-25-325 | 410,080 | 1,998,140 | 950.2 | 180 | -55 | 392.0 |
Table 2: Drill Hole Details
Quality Assurance / Quality Control
Drill core is PQ size, and the core is cut in half, with half sent for analysis. Core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Zacatecas and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.
Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.
True widths are not reported as mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls, including rock porosity, lithology and fault networks.
Statement of Qualified Person
Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr Harris is employed as Exploration Manager of the Company.
About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Charles Funk President and Chief Executive Officer Heliostar Metals Limited Email: charles.funk@heliostarmetals.com Phone: +1 844-753-0045 | Rob Grey Investor Relations Manager Heliostar Metals Limited Email: rob.grey@heliostarmetals.com Phone: +1 844-753-0045 |
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 Regarding Forward-Looking Information
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, show the full extent of the deposit, upgrade and expand the resource base, growing our annual production profile in the near term and bringing additional production online.
Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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Armory Mining Corp. (CSE: ARMY) (OTC: RMRYF) (FRA: 2JS) (the "Company" or "Armory") a resource exploration company focused on the discovery and development of minerals critical to the energy, security and defense sectors, is pleased to announce the closing of its oversubscribed non-brokered private placement offering (the “Offering”), previously announced by the Company on August 7, 2025, by issuing 16,060,000 units (the “Units”) at a price of $0.05 per Unit for aggregate gross proceeds of $803,000.
Each Unit is comprised of one common share and one transferrable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire an additional common share at a price of $0.065 per common share until August 25, 2028.
In connection with the Offering, the Company paid cash finder’s fees of $54,350 and issued 1,028,000 finder’s warrants to eligible arm’s length finders. The finder’s warrants are exercisable into a common share at $0.065 per common share until August 25, 2028. The Company also issued 1,300,000 common shares to an arm’s length advisor for providing the Company financial advisory, consulting, and support services in connection with the Offering.
The proceeds raised from the Offering are expected to be used for working capital and general corporate purposes. All securities issued under or in connection with the Offering are subject to a four month hold period expiring December 26, 2025, in accordance with applicable Canadian securities laws.
About Armory Mining Corp
Armory Mining Corp. is a Canadian exploration company focused on minerals critical to the energy, security and defense sectors. The Company controls an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina and a 100% interest in the Riley Creek antimony-gold project located in Haida Gwaii, British Columbia, and an option to acquire a 100% interest in the Ammo antimony-gold project located in Nova Scotia.
Contact Information
Alex Klenman
CEO & Director
alex@armorymining.com
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Company’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Forward-looking statements:
This press release contains certain forward-looking statements, including statements regarding the intended use of funds. The words "expects," "anticipates," "believes," "intends," "plans," "will," "may," and similar expressions are intended to identify forward-looking statements. Although the Company believes that its expectations as reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors, including, but not limited to, political and regulatory risks in Canada, operational and exploration risks, market conditions, and the availability of financing. Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce a number of positive developments at its Calico Silver Project ("Calico" or the "Calico Project") located in San Bernardino County, California.
Highlights:
Appointment of Senior Project Manager
To support the advancement of Calico, Apollo is also pleased to announce the appointment of Tony Gonzales, P. Geo., as Senior Project Manager.
Tony brings more than 35 years of mineral exploration experience, including nearly two decades with mining giant BHP. He was instrumental in advancing the EKATI Diamond Mine from exploration through to production, holding senior positions such as Senior Exploration Geologist, Technical Specialist (R&D), and Superintendent of Exploration.
As Project Manager at Fission Energy, Tony oversaw advanced exploration of the J Zone uranium deposit at Waterbury Lake. He later served as Senior Project Manager for Fission Uranium, contributing to both the discovery and advancement of the award-winning Triple-R deposit. Tony was also a key member of the team that discovered F3 Uranium's JR-Zone in Northern Saskatchewan.
Ross McElroy, President and CEO of Apollo, commented, " Calico consists of a major, high confidence silver resource surrounded by one of the most prospective land packages in the region. Thanks to the success of prior work programs, we already have an exciting list of exploration targets, including high-grade silver, gold, and barite. Now, with the appointment of Tony Gonzales, we have one of the industry's top exploration team leaders to take Calico into its next phase of growth."
Langtry Option Extension
The Company has entered into an amendment (the "Amendment") to its Option to Purchase Agreement with David K. Strachan as Trustee of the Bruce & Elizabeth Strachan Revocable Living Trust dated July 25, 2007 ("Strachan"). Under the original agreement, the Company was required to make a payment equal to the greater of US$5.2 million or the spot price of 220,000 troy ounces of silver, less any option payments made to date, by December 24, 2025, in order to acquire 100% interest in 20 patented and 2 unpatented mineral claims (the "Strachan Property") within the Langtry Property, part of the Company's larger Calico Project. The Langtry deposit, the majority of which is located on the Strachan Property, has a 2022 inferred Mineral Resource Estimate of 19.3 M tonnes at a grade of 81 g/t Ag for a total of 50 M oz of Ag using a 50 g/t silver cut-off (see news release dated February 9, 2022).
The Amendment extends the option period expiry date from December 24, 2025 to December 24, 2034; increases the purchase price to the greater of US$7.0 million or the spot price of 250,000 troy ounces of silver (the "Amended Purchase Price"), less any option payments made to date; and provides for annual option maintenance payments to be made over the duration of the eight-year extension totaling US$3.9 million, all of which can be credited against the Amended Purchase Price upon exercise.
To date, the Company has made a total of US$500,000 in option maintenance payments, which can be credited against the Amended Purchase Price upon exercise.
Waterloo Permit Extension
The Company has received approval from the San Bernardino County Land Use Services Department for its third extension of its TUP, allowing the Company to conduct exploration drilling at Waterloo for the next twelve (12) months
Technical Advisory Additions
The Company has entered into an Advisory Agreement with George Kenline to act as an independent technical advisor to the Company. Mr. Kenline is a California licensed Engineering Geologist and Hydrogeologist with extensive experience in environmental review processes. In particular, he has deep expertise in the permitting of mineral resource extraction, water supply development, reclamation, and habitat restoration in the County of San Bernardino, California. For over 15 years, he led as the Mining Engineering Geologist/Environmental Compliance Manager for the San Bernardino County's Land Use Services Department Mining Section as the County's Mining/Engineering Geologist.
Additionally, Apollo has also strengthened its project development team by engaging Genesg, a consulting firm with global expertise in permitting, stakeholder engagement, sustainability, and ESG Leadership, to support the Company as it advances Calico towards project development.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo's Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not an independent of the Company.
About Apollo Silver Corp.
Apollo is advancing one of the largest undeveloped primary silver projects in the US. The Calico project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo is well positioned to advance the assets and deliver value through exploration and development.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For further information, please contact:
Email: info@apollosilver.com
Telephone: +1 (604) 428-6128
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 includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation he expected benefits of the Strachan Option Extension; the timing, scope, and success of planned exploration activities, including at the Waterloo Project; the potential for silver, gold, and barite mineralization; the contributions of newly appointed personnel and advisors to the advancement of Calico; and the Company's ability to advance, develop, and permit the Calico Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "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.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .
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Radisson Mining Resources Inc. (TSXV: RDS,OTC:RMRDF) (OTCQB: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects for the O'Brien Gold Project ("O'Brien" or the "Project") located in the Abitibi region of Québec. The report is titled "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada." A copy of the technical report is available under the Company's profile on SEDAR+.
The O'Brien Preliminary Economic Assessment ("PEA") describes a high value project based on the use of neighbouring milling facilities for the processing of mined material, reducing capital costs, development risk, and project footprint (see Radisson news release dated July 9, 2025). It represents a "snap-shot" study for the Project, utilizing the existing Mineral Resource Estimate ("MRE"), re-blocked with an updated cut-off yielding more ounces in more tonnes with good continuity at a lower average grade. An ongoing 50-60,000 metre drill program at the Project is currently delineating new gold mineralization outside the scope of the MRE and the initial mine design, including below the historic O'Brien mine workings.
Highlights of the PEA include:
The PEA was completed by Ausenco Engineering Canada ULC as lead consultant with specific responsibility for metallurgy, processing design, infrastructure and financial modelling. InnovExplo (a member of Norda Stelo Inc.) completed the mine design and mine scheduling, BBA Inc. were responsible for water management, surface facilities, and a review of the Project's environmental assessment procedure and permitting requirements, and SLR Consulting (Canada) Ltd. were responsible for the MRE.
Qualified Persons
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O'Brien Gold Project.
The PEA is authored by Renée Barrette of Ausenco Engineering Canada ULC, the Qualified Person responsible for the preparation of the sections in the PEA on the Project's milling assessment, metallurgy, and the financial model which is based on capital costs, operating costs, and the mining cost provided by other parties; Mr. Luke Evans, M.Sc., P.Eng., ing, of SLR Consulting (Canada) Ltd., the Qualified Person responsible for the preparation of the MRE at O'Brien; Mr. Marc R. Beauvais, P.Eng. of InnovExplo, a member of Norda Stelo Inc., the Qualified Person responsible for the sections in the PEA on the mine design and mine scheduling, and; Mr. Hugo Latulippe of BBA Inc., the Qualified Person responsible for the sections on permitting, environmental, social, water management and closure cost estimate in the PEA. Each of Ms. Barrette, Mr. Evans, Mr. Beauvais and Mr. Latulippe have reviewed and approved the technical information contained in the PEA in their area of expertise and are considered to be "independent" of Radisson and the O'Brien Gold Project for purposes of NI 43-101.
Non-IFRS Financial Measures
The Company has included various references in this document that constitute "specified financial measures" within the meaning of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure of the Canadian Securities Administrators, such as, for example, Free Cash Flow, EBITDA, Total Cash Cost and All-In Sustaining Cost. None of these specified measures is a standardized financial measure under International Financial Reporting Standards ("IFRS") and these measures might not be comparable to similar financial measures disclosed by other issuers. Each of these measures are intended to provide additional information to the reader and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Certain non-IFRS financial measures used in this news release and common to the gold mining industry are defined below.
Total Cash Cost and Total Cash Cost per Ounce
Total Cash Cost is reflective of the cost of production. Total Cash Cost reported in the PEA include mining costs, processing & water treatment costs, general and administrative costs of the mine, off-site costs, refining costs, transportation costs and royalties. Total Cash Cost per Ounce is calculated as Total Cash Cost divided by payable gold ounces.
All-in Sustaining Cost (AISC) and AISC per Ounce
AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PEA includes total cash costs, sustaining capital, expansion capital and closure costs, but excludes corporate general and administrative costs and salvage. AISC per Ounce is calculated as AISC divided by payable gold ounces.
Free Cash Flow (FCF)
FCF deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow is intended to provide additional information only and does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. Other companies may calculate this measure differently.
About Ausenco
Ausenco is a global company redefining what's possible. The team is based out of 21 offices working across five continents to deliver services worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors (www.ausenco.com).
About Radisson Mining
Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 Preliminary Economic Assessment described a low cost and high value project with an 11-year mine life and significant upside potential based on the use of existing regional infrastructure. Indicated Mineral Resources are estimated at 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au), with additional Inferred Mineral Resources estimated at 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Please see the NI 43-101 "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada" dated August 20, 2025, and other filings made with Canadian securities regulatory authorities available at www.sedarplus.ca for further details and assumptions relating to the O'Brien Gold Project.
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to the ability to execute the Company's plans relating to the O'Brien Gold Project as set out in the PEA; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the O'Brien Gold Project; the absence of unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price of gold remaining at levels that render the O'Brien Gold Project profitable; the Company's ability to continue raising necessary capital to finance its operations; the ability to realize on the mineral resource and mineral reserve estimates; assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future;, planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, and the ability to incorporate new drilling in an updated technical report and resource modelling; the Company's ability to grow the O'Brien Gold Project; the ability to negotiate and execute an arrangement with IAMGOLD related to the Doyon Mill on satisfactory terms or at all; and the ability to convert inferred mineral resources to indicated mineral resources.
Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others; the risk that the O'Brien Gold Project will never reach the production stage (including due to a lack of financing); the Company's capital requirements and access to funding; changes in legislation, regulations and accounting standards to which the Company is subject, including environmental, health and safety standards, and the impact of such legislation, regulations and standards on the Company's activities; price volatility and availability of commodities; instability in the global financial system; the effects of high inflation, such as higher commodity prices; the risk of any future litigation against the Company; changes in project parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks relating to the drill results at O'Brien; the significance of drill results; and the ability of drill results to accurately predict mineralization. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities 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 the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes 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 law. These statements speak only as of the date of this news release.
Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 29, 2025 for the years ended December 31, 2024, and the Company's Management's Discussion and Analysis dated May 28, 2025 for the three-months ended March 31, 2025, all of which are available electronically on SEDAR+ at www.sedarplus.ca. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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.
1 Denotes a "specified financial measure" within the meaning of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure of the Canadian Securities Administrators ("NI 52-112"). See note on "Non-IFRS Financial Measures".
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