Convertible Loan Funding Completed

Vertex Minerals

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Vertex Minerals Limited Reward Gold Mine and Company Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce a further update on the Reward Gold mine start up.

HIGHLIGHTS

- All major components are now installed and fitted at the Reward Gold Mine Gravity Plant.

- Electrical fit out is well underway.

- Piping and water reticulation is ongoing.

- Tails lines are being laid to the dry sand stack location.

- Plant power up is planned for mid-December.

- General Manager and other key personnel have commenced employment.

- Ore Sorter structure is under construction and will be installed in January

- The plant will be commissioned on stockpiles located at the plant prior to the Ore Sorter installation.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

Mobilisation of the Gravity Plant from Ballart to site commenced earlier this month (as announced 13 November 2024), with all major components now onsite, installed and fitted at the Gravity Plant. Fitout of ancillary services (including electrical and water) is well underway, with completion and initial powering-up scheduled for mid-December 2024.

All Civil Works for this stage, including the upgrading and refurbishment of Road Infrastructure, portal entry and the ore handling area are also complete.

Ore Sorter and Forward Plan

Compelling results from Ore Sorting testwork (including a 337% increase in grade and 79% mass reduction) as announced on 25th July 2024, resulted in a decision to incorporate pre-concentration into the flow sheet and design for the Hill End project (as announced 11 September 2024). Construction of the Ore Sorter structure has commenced, with installation expected in January 2025. Installation of the Ore Sorter is not expected to delay plant commissioning, with initial processing of existing stockpiles located at the plant location to commence prior to installation and commissioning of the Ore Sorter.

Corporate and Financial

On 7 November 2024, Shareholders voted to approve the second tranche of the Company's 2-tranche share placement announced in mid-August 2024. All funds for the second tranche have been received and allotment is expected shortly.

The Company's Annual General Meeting (AGM) is scheduled for 29 November 2024 and resolutions include approval for the conversion of loan funds received under the capital-raising announced in October 2024. Various option issue approvals were granted in the 7 November Meeting and are being sought at the AGM and a prospectus for the issue of those options is being prepared.

On 27 May 2024 the Company announced that it had signed a terms sheet with Ocean Partners for a US$10M Prepayment Facility, subject to conditions precedent. Following on from the revised mine design and Gravity plant flow sheet, because of the decision to utilise an ore sorter, the capital expenditure required to develop the mine was significantly lowered. A facility of this size is no longer expected to be required by the Company and the parties have agreed that the proposed arrangement will not be completed, with no penalty to the Company. The Company is in negotiations with several parties in relation to a significantly smaller debt or prepayment facility.

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very excited by the progress that has been made with the Gravity Gold plant installation at our mine ready Gold project.

The installation is well ahead of the time we had scheduled, which has helped recover the time lost due to weather with the civil construction. We are hopeful we can now power the plant up for testing in just a few weeks. We then can commission the plant with the gold ore stockpiles we have sitting at the plant.

I would commend Gekko and our Hill End team for their efforts with this installation."

*To view photgraphs, please visit:
https://abnnewswire.net/lnk/BSH85XZW

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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Vertex Minerals Limited Progress Update at High-Grade Reward Gold Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce an update on the Reward Gold mine start up, with the refurbished Gekko plant arriving this week along with a team of trades people to install and commission the plant. Further the site infrastructure has been redeveloped with a number of improvements to roads and tails line implemented.

HIGHLIGHTS

- Civils completed.

- Gekko have commenced mobilising the Gekko Gravity Gold plant from Ballarat to the Mine site.

- Recently purchased LM 90 Drill Rig has been mobilised from Kalgoorlie to the Mine site.

- Mobile fleet purchased and on site.

o Light vehicles, heavy 6wd truck, 4wd Dual cab light truck, Integrated tool carrier, underground loader, underground haul truck, excavator

- Fixed plant purchased and on site.

o Underground fans
o Transformers
o Fuel Infrastructure
o Replacement piping for slurry and water reclaim

- General Manager and Mine Manager has commenced employment on site.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

The Reward Gold Mine is well placed for a simple start -up:

- The new processing plant will be constructed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant.

- The 640 Level extends into the resource and no stripping required with the revised mine plan.

- Second egress in place with existing ladder way from 640 Level to surface.

- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.

- The New plant will be utilising the existing services and infrastructure:

o Gold Room
o Water systems
o Power generation
o Offices
o Change Rooms
o Workshop
o Storeroom
o Crib Room
o Jaw Crusher
o Access Roads
o Security System

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very pleased with the progress so far with the redevelopment of the Reward Mine and the refurbishment of the Gravity Gold plant, given we have done this with a very small capital budget and a very wet season. I would like to acknowledge our team at Hill End, headed up by our Director Declan Franzmann and Maintenance Manger Jeff Williams who have worked tirelessly on this project to get it to this point.

Further I would like to express our gratitude to the efforts made by Gekko on their professionalism in taking a second-hand plant and refurbishing it to an excellent standard within a very short lead time.

We are now all-hands-on-deck to get ore into the plant and be producing gold bars in January."

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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Vertex Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) has identified major benefits for utilising pre-concentration technology at its Reward high grade gold mine.

Ore sorting pre-concentration test work was initiated with leading ore sorting provider TOMRA with outstanding results.

94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results were reported;

- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,

- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),

- Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),

- Gold lost to waste fraction = 0.03grams (>90% efficiency)

Refurbishment of the plant is well underway, and Vertex anticipates that the plant will be re-installed at Hill End later this year. The Company anticipates production will commence in January 2025.

Vertex acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource.

ORE SORTER TEST WORK AND IMPLEMENTATION INTO THE HILL END GRAVITY PLANT

Pre-concentration technology initiated at the Hill End Gravity Plant to separate highgrade ore from waste before it enters the processing plant.

By processing only high-grade ore, energy consumption can be reduced, water consumption will be halved leading to lower operating costs and reduction of the carbon footprint.

The small sorting unit will be simply incorporated in the existing plant being refurbished by Gekko.

Previous scoping test results from TOMRA suggested that the Greywacke country rock can be efficiently and effectively separated from the high-grade quartz carrying the gold leading to significant head grade uplift and reduced material to be processed.

Test Results

94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted.

The following results are reported;

- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,

- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),

- Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),

- Gold lost to waste fraction = 0.03grams (>90% efficiency)

ACQUISITION OF A LM90 UNDERGROUND DRILL RIG

Vertex has acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource.

The Vertex team are planning diamond drill programs for the following:

- Below the current JORC-2012 Reward Resource with the aim of expanding upon the existing resource;

- Fosters Exploration Target; and

- South Star prospect area

Acquisition of the LM90 follows an extensive review of the mineralisation potential below the Reward resource, which has only been drilled up to 50m below the Amalgamated Adit. This area targeted is referred to as the 'Reward mid depths' as it is located just 80m to ~200m below the Amalgamated Adit. Refer to Figure 1*

Upon commissioning of the LM90 drill rig, Vertex have planned eight drill holes to target the high-grade Fosters Exploration target.

The LM90 has several advantages well-suited to Vertex's requirements, including:

- The ability to work on surface and underground;

- Safe, Semi-automated, with a rod-handler system which allows for less manual handling;

- Allows greater flexibility in drilling over a number of resource and exploration areas; and

- LM 90 rigs are well-established in the industry as safe and reliable underground drill rigs.

Vertex acquiring its own rig has many advantages;

- Per-metre drill costs will be significantly less than hiring an external drill contractor

- More control and accuracy over precision of drilling.

- Works well with Job sharing

- Reduces pressure on Mining crew to have drill cuddy availability

- The LM90 rig will be accounted for as an asset on the Vertex balance sheet

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/CHF6G92O

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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Don Hansen: Gold, Silver Stocks "Extraordinarily Undervalued," Data Shows What's Next

Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network.

Focusing on the state of the US monetary system and how it relates to gold, he explained that the gold price is poised to rise, which presents strong opportunities in both gold and silver stocks.

"We are at a critical point where this is a phenomenal investment opportunity," Hansen said.

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QUIMBAYA GOLD CLOSES PRIVATE PLACEMENT

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Quimbaya Gold Inc. (CSE: QIM) (" Quimbaya " or the " Company ") is pleased to announce that the Company has completed non-brokered private placement (the " Placement ") of 2,171,665 units of the Company (each, a " Unit ") at a price of $0.30 per Unit for aggregate gross proceeds of $651,500 . Each Unit is comprised of one common share (a " Common Share ") of the Company and one Common Share purchase warrant (a " Warrant "), each such Warrant entitling the holder to acquire one additional Common Share for a period of two years from the date of issuance at an exercise price of $0.40 per Common Share. The net proceeds of the Offering will be used by the ‎Company for exploration and working capital.

News Provided by Canada Newswire via QuoteMedia

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AGNICO EAGLE ANNOUNCES ACQUISITION OF COMMON SHARES OF ONGOLD RESOURCES LTD.

Stock Symbol: AEM (NYSE and TSX)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has completed a transaction with ONGold Resources Ltd. (TSXV: ONAU) ("ONGold") which resulted in Agnico Eagle acquiring 8,700,000 common shares ("Common Shares") of ONGold.

On November 25, 2024 , Yamana Gold Ontario Inc. ("Yamana"), a wholly-owned subsidiary of Agnico Eagle, and 10215825 Manitoba Ltd. (the "Buyer"), a wholly-owned subsidiary of ONGold, entered into an asset purchase agreement, pursuant to which the Buyer agreed to purchase certain assets from Yamana in exchange for, among other things, the issuance of Common Shares to Agnico Eagle (the "Transaction"). On December 20, 2024 , the Transaction was completed, which resulted in Agnico Eagle acquiring 8,700,000 Common Shares.

Agnico Eagle currently owns 8,700,000 Common Shares, representing approximately 15.0% of the issued and outstanding Common Shares on a non-diluted basis. Prior to the closing of the Transaction, Agnico Eagle did not own any Common Shares.

In connection with closing of the Transaction, Agnico Eagle and ONGold entered into an investor rights agreement pursuant to which ONGold granted Agnico Eagle certain rights, provided that Agnico Eagle maintains certain ownership thresholds in ONGold, including: (a) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership interest in ONGold at the time of such financing or acquire up to a 19.99% ownership interest in ONGold; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors of ONGold to eight or more directors, two persons) to the board of directors of ONGold.

Agnico Eagle acquired the Common Shares as consideration for the sale of certain assets in connection with the Transaction. Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of ONGold or dispose of some or all of the Common Shares or other securities of ONGold that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Agnico Eagle Mines Limited
c/o Investor Relations
145 King Street East , Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. ONGold's head office is located at 120 Adelaide Street West, Suite 1410, Toronto, Ontario M5H 1T1.

About Agnico Eagle

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.

Forward-Looking Statements

The information in this news release has been prepared as at December 23, 2024 . Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, Agnico Eagle's acquisition or disposition of securities of ONGold in the future.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

View original content to download multimedia: https://www.prnewswire.com/news-releases/agnico-eagle-announces-acquisition-of-common-shares-of-ongold-resources-ltd-302338329.html

SOURCE Agnico Eagle Mines Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/23/c6181.html

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Convertible Loan Funding Completed

Vertex Minerals Investor Kit

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Investor Insight

Overview

Company Highlights

Key Project

Hill End Gold Project

Reward Underground Gold Mine

Sustainable Production

Exploration Plans

Management Team

Roger Jackson - Executive Chair

Declan Franzmann - Non-executive Director

Tully Richards - Technical Director

Alex Neuling - Company Secretary

Chris Hamilton - General Manager Operations, Hill End Reward Gold Mine

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