Boab Metals is well-positioned to capitalize on the rising demand for lead and silver, delivering value to shareholders and supporting the global transition to sustainable energy systems.
Boab Metals (ASX:BML) is an ASX-listed base and precious metals explorer and developer with a flagship project poised for near-term production. Boab Metals is progressing toward a final investment decision (FID) on its Sorby Hills project, a world-class lead-silver deposit, underpinned .
Strategically located 150 km from Wyndham Port, the Sorby Hills project benefits from excellent infrastructure, including access to green power from the Ord River hydroelectric plant. The company's strategy combines technical expertise, sustainable practices, and robust financial planning to advance the Sorby Hills project, which is slated to produce high-grade lead-silver concentrate through conventional open-pit mining.
Strong economics underpin the project with a net present value (8 percent) of AU$411 million and a 37 percent internal rate of return, as confirmed by the completed front-end engineering design (FEED) study. Life-of-mine operating cash flow is pegged at AU$1.1 billion with an average annual EBITDA of AU$126 million. It boasts a competitive C1 cash cost of US$0.36/lb payable lead (after considering silver credits).
Further boosting the prospects of the Sorby Hills project a binding offtake and prepayment agreements with Trafigura, which ensured 75 percent of the lead-silver concentrate produced at Sorby Hills is pre-sold, providing a cornerstone financial foundation.
Boab Metals owns 75 percent of the Sorby Hills Project, with the remaining 25 percent held by Henan Yuguang Gold & Lead Co., China's largest lead smelting and silver producer. The project boasts a substantial, high-quality resource base of 47.3 million ton resource base at 4.3 percent lead equivalent (123 g/t silver equivalent), including 53 million ounces of contained silver, all with significant exploration upside.
An engineer with over 30 years of experience in the Australian mining industry, Gary Comb has a strong track record in successfully commissioning and operating base metal mines. He previously served as chairman of Finders Resources, and was the managing director of Jabiru Metals and CEO of BGC Contracting.
Appointed on October 19, 2013, Simon Noon brings more than 15 years of experience managing public resource companies. He has a strong background in strategic management, business planning, finance and capital raising across various commodities. Noon's notable achievements include leading the acquisition and development of the Sorby Hills project, resulting in a 50 percent increase in the mineral resource and the delivery of high-quality feasibility studies
A geologist with a successful career spanning over 30 years in the international mineral resource industry, Richard Monti has broad industry knowledge and strong strategic planning capabilities. He has more than 46 years of directorship experience in 13 ASX and TSX listed mining and exploration companies, building and managing teams of up to 70 personnel.
Advancing toward near-term lead and silver production in Western Australia
AngloGold Ashanti plc ("AngloGold Ashanti" or the "Company") has been named for the first time as a preliminary addition to the Russell 1000® or Russell 2000®, the Russell 3000®, and the Russell  Midcap ® Indexes , as part of the latest FTSE Russell 2025 U.S. Indexes reconstitution.
Final index membership will become effective after the U.S. market closes on Friday, 27 June 2025, with rebalanced index constituents reflected in trading beginning Monday, 30 June 2025.
"This is an important milestone for AngloGold Ashanti," said Alberto Calderon, Chief Executive Officer of AngloGold Ashanti. " Our inclusion in this important family of US equity market indexes will help further increase liquidity and unlock long-term value for our shareholders."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell U.S. Indexes, which belong to FTSE Russell, the global index provider. The reconstitution of the Russell U.S. Indexes ranks the 4,000 largest U.S. stocks by market capitalisation to reflect changes in the investable equity market. This year's rebalance is expected to drive more than $53 billion in passive flows, and marks one of the highest-volume trading days of the year.
AngloGold Ashanti's anticipated inclusion in these benchmark equity indexes on 27 June 2025 follows the move of the Company's primary listing to the NYSE in September 2023.
About AngloGold Ashanti
AngloGold Ashanti plc is an independent, global gold mining company with a diversified portfolio of operations, projects, and exploration activities across ten countries. Headquartered in Denver, Colorado, the Company is committed to operational excellence, disciplined capital allocation, and sustainable value creation. AngloGold Ashanti has its primary listing on the NYSE and secondary listings on the Johannesburg Stock Exchange (A2X and JSE) and the Ghana Stock Exchange (GSE).
For more information, visit: www.anglogoldashanti.com
About FTSE Russell
FTSE Russell is a leading global index provider, benchmarking approximately $18.1 trillion in assets. The Russell U.S. Indexes are designed to represent the U.S. equity market with transparent, rules-based methodologies. Beginning in 2026, FTSE Russell will transition to semi-annual reconstitutions to reflect evolving market conditions.
For more information on the 2025 reconstitution, visit: https://www.lseg.com/en/ftse-russell/russell-reconstitution#overview
JSE Sponsor: The Standard Bank of South Africa
Forward-looking statements
Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as "believe", "expect", "aim", "anticipate", "intend", "foresee", "forecast", "predict", "project", "estimate", "likely", "may", "might", "could", "should", "would", "seek", "plan", "scheduled", "possible", "continue", "potential", "outlook", "target" or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.
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Media Â
Andrea Maxey
+61 08 9425 4603 / +61 400 072 199
amaxey@aga.gold
General inquiries
media@anglogoldashanti.com
Investors Â
Andrea Maxey
+61 08 9425 4603 / +61 400 072 199
amaxey@aga.gold
Yatish Chowthee
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yrchowthee@aga.gold
Website: www.anglogoldashanti.com
News Provided by Business Wire via QuoteMedia
1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce the assay results from twelve (12) drill holes for 3,208.0Â metres ("m") from the ongoing surface drill program at the True North Gold Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located within the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .
Highlights:
San Antonio West Target
"These are some of the best results we've seen to date from the San Antonio West target.", Shaun Heinrichs , CEO and President, stated, "The drilling confirms the potential definition of high-grade ore shoots within the SAM West target zone, and further supports our geological model. These results build the case for continued underground exploration, where we see significant potential to define and expand new and existing mineral resources within the mine infrastructure."
1911 Gold has completed fifty-one (51) surface drill holes, for a total of 11,695.4 m on the current drill program, which commenced in October 2024 on new exploration targets located within the True North Gold mine footprint. The results of seven (7) new drill holes for 1,928.0 m from the San Antonio West target and five (5) initial drill holes for a total of 1,280.00 m from the Gate target are included in this release. New targets have been generated and drill tested within prospective host rocks and mineralized structural settings, including significant historical drill results. The results from nine (9) additional exploration drill holes are currently pending. Additional drill planning is underway on the San Antonio West and San Antonio Southeast targets and will commence when access to the Mine site is permitted (see press release entitled "1911 Gold Temporarily Suspends Operation at True North Complex due to Bissett Evacuation Order", dated May 30, 2025 ). The exploration drilling plan includes up to 30,000 m of drilling by the end of 2025.
S Â an Antonio West Target: Discussion of Results
Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m west of the historically mined San Antonio zone, covering an area 500 m long and over 260 m to depth, dipping 50º to the northeast. Twenty-one (21) drill holes for a total of 4,220.0 m have been completed to date on the SAM West target area.
The latest drill holes, comprised of seven (7) new drill holes for 1,928.0 m , extended the footprint of mineralization 100 m down dip from the results announced on April 30, 2025 (see press release entitled "1911 Gold Intersects 62.40 g/t Au over 1.00 m on San Antonio West at True North") .
Drill hole TN-25-056, designed to undercut high grade gold mineralization intersected in drill hole TN-25-037 ( 1.00 m @ 8.73 g/t Au, 1.00 m @ 62.40 g/t Au and 0.70 m @ 6.09 g/t Au and 4.50 m @ 4.17 g/t Au), intersected 2.30 m @ 9.59 g/t Au, including 1.80 m @ 11.25 g/t Au and 0.50 m @ 21.30 g/t Au. Drilling successfully extended the gold mineralization approximately 50 m down dip and returned high-grade gold results.
Drill hole TN-25-057 ( 1.40 m @ 58.66 g/t Au) tested the down-dip extensions of the high-grade gold intercepts of previously released holes TN-24-043 ( 1.00 m @ 12.50 g/t Au) and TN-24-045 ( 3.70 m @ 6.84 g/t Au, including 1.40 m @ 12.40 g/t Au and 2.70 m @ 5.30 g/t Au, including 0.50 m @ 11.30 g/t Au). Drilling successfully intercepted high-grade gold mineralization approximately 160 m down dip.
Drill hole TN-25-058 ( 0.50 m @ 10.40 g/t Au) designed to test the 160 m down-dip extension of the gold mineralization from hole TN-25-056, intersected three distinct gold mineralized veins extending the multiple vein structures to 340 m depth.
Table 1: Select Significant Drill Hole Assay Results
Target Area (name) | Drill Hole (number) | From (m) | To (m) | Interval (m) | Au (g/t) |
SAM West | TN-25-039 | 10.00 | 10.50 | 0.50 | 2.95 |
64.40 | 65.30 | 0.90 | 2.86 | ||
SAM West | TN-25-041 | 21.30 | 22.20 | 0.90 | 2.59 |
SAM West | TN-25-056 | 103.10 | 105.40 | 2.30 | 9.59 |
Including | 103.10 | 104.90 | 1.80 | 11.25 | |
Including | 103.10 | 103.60 | 0.50 | 21.30 | |
SAM West | TN-25-057 | 145.00 | 146.40 | 1.40 | 58.66 |
Including | 145.00 | 145.90 | 0.90 | 63.20 | |
and | 145.90 | 146.40 | 0.50 | 50.50 | |
SAM West | TN-25-058 | 201.90 | 203.40 | 1.50 | 2.84 |
237.60 | 238.10 | 0.50 | 3.62 | ||
249.30 | 249.80 | 0.50 | 10.40 | ||
275.90 | 276.40 | 0.50 | 3.65 | ||
SAM West | TN-25-060 | 237.20 | 237.80 | 0.60 | 3.97 |
241.20 | 242.00 | 0.80 | 3.44 |
1) | Intercepts above a cut-off grade of 2.25 g/t Au |
2) | Maximum of 2.50 m internal dilution and no top capping applied |
3) | Intervals represent drill core length and are considered to represent 60% to 90% of true widths |
4) | Full Significant Assay Results included in Table 2 |
5) | Drill hole Information included in Table 3 |
Drilling has further confirmed the existence of up to three (3) vein zones hosted within the target gabbro unit, supporting the potential to mine multiple zones on levels as conducted historically (see press release entitled "1911 Gold Intersects 62.40 g/t Au over 1.00 m on San Antonio West at True North", dated April 30, 2025 ). Planning for the next phase of drilling on the SAM West target is ongoing.
San Antonio West Target
The San Antonio West target is located west of the historically mined San Antonio zone of the True North Gold Mine. The San Antonio West target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled "NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada , dated December 23 . 2024). Drilling has now confirmed gold mineralization in quartz-carbonate shear veins with sericite, chlorite, minor tourmaline alteration and up to 2% disseminated and veinlet-hosted pyrite. The target occurs as a vein system parallel to the San Antonio Mine ore body, with the same geological, alteration and mineralization characteristics. Gold mineralization has been traced over a strike length of 500 m and to 360 m down dip.
Gate  Target
The Gate target was defined to explore for potential gold mineralization on the intersection of the Cartwright South and L13 shear zones with the Shoreline Basalt unit. Five (5) drill holes, totalling 1,280.00 m (see Table 3), were completed on this target. All drill holes intercepted well-developed quartz veining hosted within sediments, with drill hole TN-25-044 intersecting 0.90 m @ 1.30 g/t Au and drill hole TN-25-049 intersecting 0.90 m @ 0.57 g/t Au. Drilling did not intersect wide sections of basalt, which host the majority of mineralization in this unit at True North. Additional interpretation is ongoing to define the basalt flows within the Shoreline Basalt unit, which in this area appear to occur as discontinuous lenses intercalated within sediments. Interpretation, modelling and drill targeting are ongoing to define potential extensions of the basalt unit hosting gold mineralization.
Site Access Update
Recent rainfall, favourable winds, and cooler temperatures have eased wildfire conditions in the region; however, the Town of Bissett and the Company's True North site remain under evacuation as a precautionary measure. Fire crews continue to make progress in the area. Company facilities have not been impacted, and the Company expects to resume site activities once it is deemed safe to do so.
Next Steps
Building on the strong results achieved to date on new exploration targets and the compelling targets to expand the current resource, 1911 Gold is advancing plans to initiate underground exploration drilling. Once site access is re-established, the Company will continue preparing multiple underground levels to facilitate this next phase of work. Targeting is well underway, focusing on high-priority areas that offer meaningful resource expansion potential and support the mine plan currently under development. Mobilization of drill rigs to key underground levels is expected later this summer. Concurrently, the Company is actively evaluating additional targets across the property and advancing the redevelopment of the high-grade, near-surface Ogama-Rockland 43-101 mineral resource, located 25 km by road east of the True North complex.
Table 2: True North; Select Drill Hole Assays | ||||||
Target Area (name) | Drill Hole (number) | From (m) | To (m) | Interval (m) | Au* (g/t) | |
SAM West | TN-25-039 | 10.00 | 10.50 | 0.50 | 2.95 | |
18.00 | 20.60 | 2.60 | 0.93 | |||
48.00 | 49.00 | 1.00 | 1.11 | |||
64.40 | 65.30 | 0.90 | 2.86 | |||
SAM West | TN-25-041 | 9.00 | 10.00 | 1.00 | 0.87 | |
20.50 | 21.30 | 0.80 | 0.87 | |||
21.30 | 22.20 | 0.90 | 2.59 | |||
22.20 | 22.80 | 0.60 | 0.76 | |||
28.40 | 29.30 | 0.90 | 2.07 | |||
Gate | TN-25-044 | 10.10 | 11.00 | 0.90 | 1.30 | |
Gate | TN-25-046 | No Significant Values | ||||
Gate | TN-25-047 | No Significant Values | ||||
Gate | TN-25-049 | 89.90 | 90.80 | 0.90 | 0.57 | |
Gate | TN-25-050 | No Significant Values | ||||
SAM West | TN-25-056 | 100.70 | 102.30 | 1.60 | 1.42 | |
103.10 | 105.40 | 2.30 | 9.59 | |||
Including | 103.10 | 104.90 | 1.80 | 11.25 | ||
Including | 103.10 | 103.60 | 0.50 | 21.30 | ||
106.80 | 112.40 | 5.60 | 1.09 | |||
SAM West | TN-25-057 | 136.60 | 140.80 | 4.20 | 0.63 | |
145.00 | 146.40 | 1.40 | 58.66 | |||
Including | 145.00 | 145.90 | 0.90 | 63.20 | ||
and | 145.90 | 146.40 | 0.50 | 50.50 | ||
147.20 | 151.00 | 3.80 | 0.60 | |||
187.30 | 187.80 | 0.50 | 0.95 | |||
201.60 | 203.40 | 1.80 | 1.06 | |||
210.50 | 211.50 | 1.00 | 0.93 | |||
217.50 | 218.00 | 0.50 | 1.93 | |||
303.40 | 304.10 | 0.70 | 1.08 | |||
SAM West | TN-25-058 | 97.10 | 97.80 | 0.70 | 1.46 | |
100.00 | 101.70 | 1.70 | 1.22 | |||
115.70 | 116.20 | 0.50 | 1.01 | |||
118.20 | 119.20 | 1.00 | 0.93 | |||
198.00 | 199.40 | 1.40 | 0.79 | |||
201.90 | 203.40 | 1.50 | 2.84 | |||
214.90 | 215.60 | 0.70 | 2.06 | |||
237.60 | 238.10 | 0.50 | 3.62 | |||
247.30 | 248.30 | 1.00 | 1.06 | |||
249.30 | 249.80 | 0.50 | 10.40 | |||
275.90 | 276.40 | 0.50 | 3.65 | |||
SAM West | TN-25-059 | 339.70 | 340.80 | 1.10 | 2.07 | |
SAM West | TN-25-060 | 215.20 | 216.30 | 1.10 | 1.87 | |
237.20 | 237.80 | 0.60 | 3.97 | |||
240.20 | 241.20 | 1.00 | 1.13 | |||
241.20 | 242.00 | 0.80 | 3.44 | |||
252.30 | 254.50 | 2.20 | 0.57 | |||
290.20 | 290.90 | 0.70 | 0.63 | |||
313.30 | 314.80 | 1.50 | 1.12 | |||
*Composites above 0.5 g/t Au and metal factor above 0.5 Au "gxm" |
Table 3: True North; Drill Hole Details
Drill Hole (Number) | `Target (Name) | Northing* | Easting*  (m) | Elevation | Azimuth (°) | Inclination (°) | Depth (m) |
TN-25-039 | SAM West | 5655810 | 311885 | 251 | 197 | -70 | 131 |
TN-25-041 | SAM West | 5655810 | 311885 | 251 | 230 | -45 | 110 |
TN-25-044 | Gate | 5655940 | 312204 | 257 | 129 | -56 | 176 |
TN-25-046 | Gate | 5655940 | 312204 | 257 | 106 | -48 | 269 |
TN-25-047 | Gate | 5655940 | 312204 | 257 | 74 | -59 | 372 |
TN-25-049 | Gate | 5655800 | 312446 | 250 | 89 | -45 | 194 |
TN-25-050 | Gate | 5655800 | 312446 | 250 | 71 | -52 | 269 |
TN-25-056 | SAM West | 5655890 | 311918 | 259 | 350 | -71 | 302 |
TN-25-057 | SAM West | 5655890 | 311918 | 259 | 327 | -57 | 320 |
TN-25-058 | SAM West | 5655895 | 311924 | 251 | 56 | -72 | 299 |
TN-25-059 | SAM West | 5655933 | 311986 | 248 | 348 | -73 | 377 |
TN-25-060 | SAM West | 5655935 | 311991 | 256 | 327 | -65 | 389 |
*Coordinates are provided in UTM NAD83 Zone 15 |
Qualified Person Statement
The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera , P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a "Qualified Person" as defined under NI 43-101.
Quality Assurance/Quality Controls (QA/QC)
Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada .
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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.
SOURCE 1911 Gold Corporation
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Walker Lane Resources Ltd. (TSX-V: WLR) (Frankfurt:ZM5P) ("WLR" or the "Company") is pleased to announce the terms to its best efforts non-brokered private placement. The proposed terms are to issue 4,000,000 non-flow through units at a price of C$0.12 per unit (the NFT Units") and 6,000,000 flow-through units at a price of $0.14 per unit (the " FT Units") of the Company for aggregate gross proceeds of up to C$1,320,000 (collectively, the " Offering "). There may be agents who will be acting as finder on behalf of the Company in relation to the Offering.
Each Unit will consist of one common share of the Company (each, a " Unit Share ") and one full Warrant. Each whole Warrant will entitle the holder thereof to acquire one non-flow-through common share of the Company (each, a " Warrant Share ") at a price of C$0.16 per Warrant Share for a period of 24 months from the closing date of the Offering. The proposed closing date of the Offering is on or before
The net proceeds from the sale of Units will be used to;
The Company may pay finders' fees comprised of cash and non-transferable warrants (the " Finder's Warrants ") in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. The terms of the Finder's Warrants will be the same as the Warrants distributed in the Units. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Closing is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The securities being offered will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act" ), or any applicable 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 term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada (i.e., Tule Canyon, Cambridge and Silver Mountain) and the Rancheria Silver District in Yukon/B.C. (Amy and Silver Hart/Blue Heaven) and Logjam ( Yukon). The Company intends to initiate an aggressive exploration program to advance the Amy (Rancheria Silver, B.C.) projects through an aggressive drilling program to resource definition stage in the near future. An exploration permit application is currently being reviewed for the Amy Project.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer,
P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
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Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plans", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" "targeted", "can", "anticipates", "intends", "likely", "should", "could" or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon.
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