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Anax Metals Limited Investor Kit
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Anax Metals Limited
Investor Insight
Anax Metals, an ASX-listed exploration company, is dedicated to advancing its copper assets in Western Australia’s Pilbara region. Through key joint ventures and strategic partnerships, the company is well-positioned to develop a central processing hub, enhancing operational efficiency and delivering strong investor value.
Overview
Anax Metals (ASX:ANX) is a project developer that is on track to begin producing copper and zinc concentrates from its flagship Whim Creek project in the Pilbara region of Western Australia. The project is 80 percent owned by Anax, with JV partner Develop Global (Develop) owning the remaining 20 percent. The Whim Creek DFS (and leaching study) have demonstrated the opportunity for an eight-year mining operation producing copper concentrates, cathodes and valuable byproducts. The operation will generate $410 million in cash flow and deliver an NPV of $270 million with a development capex of $71 million.
The company believes its growth potential lies both in expanding the mineral resources across the project’s four deposits and in a consolidation strategy that includes a processing hub with a concentrator and heap leach at Whim Creek. Benefits from the consolidation include delivering economies of scale with processing flexibility to treat ores from regional orebodies. The permitted infrastructure is ideally located and suited to becoming the Pilbara-processing hub.
Anax Metals and GreenTech Metals signed a non-binding and non-exclusive memorandum of understanding to assess the potential to treat mined material from GreenTech’s base metal assets, with a focus on the open-pittable Whundo deposit.
Anax Metals also signed a non-binding and non-exclusive memorandum of understanding (MoU) with Artemis Resources (ASX:ARV) to jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Anax and Artemis also agree to evaluate the potential for Artemis to explore for gold mineralisation on the Anax project tenure.
Company Highlights
- Anax Metals focuses on delivering copper production at the Whim Creek copper-zinc project within the next 18 to 24 months, targeting over $400 million in free cash flow across an eight-year mine life.
- The company aims to drive resource expansion and consolidate copper assets in the Pilbara region by developing a central processing hub.
- Since completing the DFS last year, Anax Metals has been evaluating opportunities to increase Whim Creek’s production capacity beyond 20 kt of copper equivalent per year.
- Capital requirements are expected to remain low, with plans to leverage existing infrastructure and deploy preconcentration technology to optimize processing capacity..
- Anax Metals actively collaborates with key partners, including Develop Global (ASX:DVP), Greentech Metals (ASX:GRE), and several metal trading groups.
Key Projects
Whim Creek Copper-Zinc Project
Whim Creek is strategically located along the NW Coastal Highway in Western Australia’s Pilbara region, approximately 120 km from both Port Hedland and Karratha. With a long history of copper production, the project benefits from existing infrastructure, including dams, haul roads, offices, workshops, and a dedicated gas spur line. Currently being developed as an 80/20 joint venture between Anax Metals and Develop Global, Whim Creek hosts four key deposits—Whim Creek, Mons Cupri, Salt Creek, and Evelyn. These deposits feature structurally controlled, volcanic-hosted massive sulphide copper-zinc-lead mineralization, presenting significant development potential.
On-going exploration work at Evelyn resulted in discovering exciting new targets for future drilling campaigns scheduled in early 2025. Exploration works conducted in 2024 indicated high copper grades and new soil anomalies. The company is assessing the regional potential of the granted Evelyn Mining Lease for further high-grade VMS-type, polymetallic base metal deposits.
Anax Metals announced its recent application for an exploration license (E47/5275) covering 65 sub-blocks spanning approximately 207 sq. km, which extends the company’s landholding to the south and west of the Whim Creek joint venture tenement package. Once granted, the new tenement will be 100 percent owned by Anax. The majority of E47/5275 lies within the Whim Creek Greenstone Belt, which is highly prospective for volcanogenic massive sulphide (VMS) mineralization, similar to the Whim Creek and Mons Cupri deposits.
Production – Concentrator and Heap Leach
Since completing the definitive feasibility study in 2023, Anax has promoted Whim Creek as a regional processing hub, with potential for an expanded production capacity over 20 kt copper equivalent. Highlights of the technical report include FCF generation of $410 million over an eight-year mine life. Processing would be predominantly through the planned concentrator. Heap leaching is anticipated to begin in the second year of production.
Anax has achieved significant success with bioleaching technology, reporting up to 80 percent copper and 90 percent zinc extraction rates. This innovative approach enhances metal recovery and supports the company’s commitment to sustainable practices.
A processing hub with sorting, concentrator and heap leach facilities
The company believes the project will also provide a processing solution for surrounding projects located within trucking distance of Anax’s processing facility. In the long term, Anax plans to establish a Pilbara Base Metal Alliance to facilitate collaboration with other base metal projects in the region.
Management Team
Phillip Jackson - Chairman
Phillip Jackson is a barrister and solicitor with significant legal and international corporate experience, Phillip Jackson specialises in commercial and contract law, mining and energy law and corporate governance. He has been a director and chairman of a number of ASX and AIM listed minerals companies.
Geoff Laing - Managing Director
Geoff Laing is a chemical engineer with 30 years in mining and project development. He has been involved in the exploration and junior mining sector for the last 15 years, taking on corporate and advisory roles. He was a key player in Exco Resources’ divestment of a substantial copper asset for $175 million to Xstrata Copper, and as managing director, he delivered the successful takeover of the company by WH Sol Pattinson.
Peter Cordin - Non-executive Director
Peter Cordin is a civil engineer with over 45 years' global experience in mining and exploration, both at operational and senior management levels. He has direct experience in the construction and management of diamond and gold operations in Australia, Fenno-Scandinavia and Indonesia.
Phil Warren - Non-executive Director
Phil Warren is a chartered accountant with over 25 years’ experience in board governance, corporate advisory and capital raising advice. Warren has spent a number of years working overseas for major international investment banks. He is currently a non-executive director of ASX listed companies, including Family Zone Cyber Safety, Narryer Metals, Killi Resource and Rent.com.au. He was a founding director of Cassini Resources, which was subsequently acquired by Oz Minerals.
Jenine Owen - Chief Financial Officer
Jenine Owen joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a chartered accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the external assurance division, she moved to London in 1999 where she held various finance and governance roles before settling in Australia in 2008. Prior to joining Anax, Owen was CFO at Predictive Discovery (ASX:PDI).
Andrew Mcdonald - General Manager
Andrew McDonald is a seasoned geologist with over 20 years of experience in project management, development, resource geology, and exploration across a wide range of commodities. He has held roles with several ASX-listed mining companies, where he has led project development and managed regulatory approvals for mining projects in both Australia and the United States.
Dan O’Hara – Environmental Manager
Dan O’Hara is an experienced environmental professional with over 15 years in environmental management across the mining, oil and gas, construction, and government sectors. In recent years, he has played a key role in securing environmental permits for mining projects in Western Australia.
Near-term copper producer targeting resource growth and a regional consolidation strategy
Heritage Provides Exploration Update on New Millennium Prospect
VANCOUVER, BC TheNewswire - March 24, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that samples have been submitted on Saturday March 22, 2025 from the New Millennium 2025 diamond drill program targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship exploration project Drayton Black Lake (" DBL ") (Figure 2 and 3). The Company anticipates recommencing drilling on Zone 3 Extension Prospect in short order.
New Millenium Target Historical Highlights:
The Company's 2025 diamond drill program drilled under historical trenches which had results up to 5.18oz/ton Au and 4.8oz/ton Au, +1,000g/t Ag, 0.37% Cu, %0.078 Mo, +1%Pb, 0.68%Zn
The Company has confirmed these findings at surface in prior work programs returning up to 2,330 g/t Au (grab) in the immediate vicinity of the above-mentioned trenches tracing over 300m at surface
Multi-elemental analysis from prior channel sampling programs supports positive correlation between Au and Te, Ag, Cu, Pb, Zn. When combined with visual inspection of core, shows similarities to mineralization at Zone 3, an intrusion related gold mineralization system identified in 2024 comparable to Hammond Reef style mineralization.
New Millennium Target Highlights (Press Release: February 27, 2025)
Total 556m in nine holes completed vs planned 370m over seven holes. Additional meterage was driven from favorable mineralization intersection. All samples are delivered to the lab as at Saturday March 22, 2025.
Drill holes show multiple occurrences (up to 51.40m core length) of variably mineralized shear zone material, local granitic/felsic intrusions, and massive to semi massive quartz veins (Figure 1) in seven of the nine holes drilled.
The presence of chalcopyrite with pyrite in chlorite-carbonate alteration with patchy k-feldspar alteration in quartz veins and wall-rock is reminiscent of some of the best Au-bearing intercepts at the nearby Zone 3 Prospect that were drilled in 2024 (September 20, 2024 Press Release).
Click Image To View Full Size
Figure 1: HML025-006 Select photograph showing variably mineralized shear zone material hosting semi massive fine grade pyrite filling laminations within massive to semi massive quartz veins associated with k-feldspar altered granite.
"The historical significance of the recently acquired (100% owned) New Millennium target area is very impressive and important to mention as we look forward to assay results. Our systematic exploration approach has successfully intersected significant mineralized core lengths, which is an interesting twist compared to the historically observed high-grade but narrow veins at surface.
It seems to widen at depth, which is a very good sign, considering we have only drilled up to 87m.
We are also looking forward to drilling Zone 3 (DBL Project) and the Rognon Mine are (Contact Bay Project), both of which are high potential drill target areas.
For some time now, we have secured a controlling position on our projects within one of the last underexplored greenstone belts with fantastic access in Northern Ontario. I would like to thank the technical team for their contributions to a successful 2025 drill program thus far, and I look forward to the assay results, continued drilling, and our growth together." Commented Peter Schloo, President, CEO and Director of Heritage
Click Image To View Full Size
Figure 2: DBL Total Property Outline
Click Image To View Full Size
Figure 3: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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The White House introduces Immediate and Vigorous Measures to fast track the Domestic Mining Industry and Production
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TORONTOTheNewswire - March 2 4 2025 - Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to report that t he White House announced immediate measures to be introduced to significantly increase the US production of lithium, nickel, copper, and rare earths, with an eye to increased production, the creation of jobs and, significantly, the reduction of US reliance on foreign nations.
The aim of the United States is to take immediate action to facilitate domestic mineral production to the maximum extent possible.
Heads of related Agencies, including Defense, Energy and Agriculture, are to be charged to facilitate domestic mineral production in the United States, providing loans, capital and technical assistance and working capital and to facilitate commercially viable domestic mineral production project to the maximum possible extent.
The link to the Executive Order is https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-increase-american-mineral-production/
Homeland Nickel Inc. (SHL.V : SRCGF) is in a unique position in the US, its Oregon project has the potential to become one of the only suppliers of domestic Nickel in the country.
Homeland Nickel Inc., is poised to enter the US critical minerals market with a project which would qualify for all the Government DOD, DOE and IRA subsidies currently available.
A total of 30 EV battery plants are either planned, under construction or operational in North America. Of these, 3 plants are located within 500 miles in the adjoining States of Nevada and California. This is not to mention the global demand for stainless steel. As a consequence, Homeland is currently looking at acquiring additional other advanced Nickel-Copper properties in this region.
Noble Mineral Exploration inc. currently holds ~19,500,000 shares and 750,000 2-yr warrants of Homeland Nickel Inc.
Vance White CEO of Noble Mineral Exploration said: "As a very large shareholder of Homeland Nickel we are pleased that this may fast track the ability to carry out our proposed programs on the Red Flats and Cleopatra projects in Oregon where we have a potentially very large resource of nickel ore very close to surface. This could get very exciting!"
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC".
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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Silver47 Announces Closing of Third Tranche and Upsize of Non-Brokered Private Placement from $8 Million to $11 Million
Silver47 Exploration Corp. (TSXV: AGA) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the "Private Placement") from $8 million to $11 million (the "Upsize"). The Company also intends to complete the third tranche (the "Third Tranche") of the Private Placement on March 21, 2025. The closing of the Third Tranche, along with the Upsize, will be completed as part of the same financing, as set out in the Company's news releases dated February 19 and 24, 2025.
Pursuant to the Third Tranche, the Company will issue approximately 3,871,000 units at a price of $0.50 each, for gross proceeds of approximately $1,935,500. Completion of the Third Tranche will result in the Company having issued an aggregate of 14,938,400 units and 929,192 flow-through units (at a price of $0.57 per flow-through unit) for aggregate proceeds under the Private Placement of $7,998,839.
Each unit under the Third Tranche will consist of one common share in the capital of the Company (the "Common Share") and one-half of one Common Share purchase warrant (with each full warrant being a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.75 within 36 months following issuance.
In connection with the Third Tranche, the Company will pay finders' fees of $72,975 in cash, representing 7% of the aggregate proceeds raised by such finder(s), and will issue approximately 145,950 finders' warrants (the "Finders' Warrants"), representing 7% of the number of securities sold to subscribers introduced to the Company by such finder(s). Each Finders' Warrant will be exercisable for one Common Share at an exercise price of $0.75 for a period of 36 months from the date of issuance. The Company will have paid to finders an aggregate of $284,294 in cash and issued an aggregate of 565,278 Finders' Warrants pursuant to the Private Placement to-date.
The Upsize will include the sale of the following securities:
- Up to 6,000,000 units of the Company at $0.50 each (the "Units"), for aggregate gross proceeds of up to $3 million. Each Unit will consist of one Common Share and one-half of one Warrant. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.75 within 36 months following issuance.
- The Upsize is expected to close on or about April 2, 2025, or on any other date or dates as the Company may determine.
The net proceeds from the sale of the Units and the units under the Third Tranche will be used to fund exploration activities at the Red Mountain Project in Alaska and for general working capital and gross proceeds from the sale of flow-through units indicated above will be used for exploration expenditures at the Company's Adams Plateau Project in British Columbia.
Closing of the Upsize is subject to receipt of conditional acceptance from the TSX Venture Exchange ("TSXV"). All securities issuable under the Private Placement including the Upsize are subject to a hold period of four months and one day from the date of issuance under applicable securities laws.
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 securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The 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 in the "United States" or to "U.S. persons" (as such terms are 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.
About Silver47 Exploration Corp.
Silver47 Exploration Corp. is a Canadian-based exploration company that wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US. These projects include the Red Mountain Project in southcentral Alaska, a silver-gold-zinc-copper-lead-antimony-gallium VMS-SEDEX project. The Red Mountain Project hosts an inferred mineral resource estimate of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million ounces of silver equivalent, as reported in the NI 43-101 Technical Report dated March 2, 2023. The Company also owns the Adams Plateau Project in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX-VMS project, and the Michelle Project in the Yukon Territory, a silver-lead-zinc-gallium-antimony MVT-SEDEX project. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. Silver47's shares are traded on the TSXV under the ticker symbol AGA.
For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd."
Follow us on social media for the latest updates:
- Twitter: @Silver47co
- LinkedIn: Silver47
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Director and CEO
gthompson@silver47.ca
For investor relations
Meredith Eades
info@silver47.ca
778.835.2547
No securities regulatory authority has either approved or disapproved of the contents of this release. 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.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to: closing of the Third Tranche and the Additional Offering, including the number of securities issued in respect thereof; anticipated use of proceeds; expected closing date of the Third Tranche and the Additional Offering; payment of finder's fees; ability to obtain all necessary regulatory approvals; the statements in regards to existing and future products of the Company; and the Company's plans and strategies. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability to close the Third Tranche and the Additional Offering, including the time and sizing thereof, and receipt of required regulatory approvals; the use of proceeds not being as anticipated; the Company's ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and the additional risks identified in the Company's financial statements and the accompanying management's discussion and analysis and other public disclosures recently filed under its issuer profile on SEDAR+ and other reports and filings with the TSXV and applicable Canadian securities regulators. The forward-looking information are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws.
Not for distribution to United States Newswire Services or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245296
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REPEAT -- Independent Survey Confirms Public Support for Falco Horne 5 Project
Falco Resources Ltd. (TSX.V: FPC) (" Falco" or the " Company" ) is pleased to publish the results of an independent survey of the population of Rouyn-Noranda and Abitibi-Témiscamingue conducted by Léger regarding the understanding and social acceptability of the Falco Horne 5 underground mine project (the " Project" ).
Three out of four people support the Project
The results show that Falco enjoys strong majority support in Rouyn-Noranda, where 72% of respondents are in favour of the Horne 5 Project, and in Abitibi-Témiscamingue, where support reaches 74%. These results demonstrate the population's significant support for the Project, particularly given its economic spin-offs and positive impact on employment.
Trust in Falco
Respondents recognize the benefits the Project will bring to the region, emphasizing its key role in local and regional economic growth and job creation. Despite some concerns about environmental impacts, a strong majority of respondents (73%) are confident that Falco will work with civil society actors to ensure responsible implementation of the Project.
A Project for the common good
In addition, a high proportion of respondents (74%) felt that the Project should proceed for the community's benefit, strengthening the legitimacy and social acceptability of the Falco Horne 5 Project in the region.
Hélène Cartier, Vice-President of Environment, Sustainable Development and Community Relations, stated: "As demonstrated by the numerous briefs submitted to BAPE, these results confirm the population's strong support for our Project and our commitment to act responsibly. We will continue our concerted efforts with all stakeholders to ensure a mutually beneficial development. We believe this strong support justifies our request to the Québec government to deem the project acceptable."
Luc Lessard, President and CEO, added: "These results are a testament to the broad support for the Project among Rouyn-Noranda residents, consistent with what we have been seeing for several years now. Falco has submitted to the authorities at the Québec government a mining development project that will be of great benefit to the city, the Abitibi-Témiscamingue region and all of Québec. It remains surprising, however, that after more than 8 years, the government has yet to recognize the Project's conformity."
The Company will continue its discussions with the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the " Ministère ") to have the Project's compliance recognized and complete the environmental analysis.
Highlights
Favourability of the Project
- 73% of respondents were in favor of the Project (28% very favorable, 46% somewhat favorable)
- Only 15% are unfavorable (5% very unfavorable, 10% somewhat unfavorable).
Main reasons for being in favor
- 47% : Job creation
- 26% : Positive impact on the local economy
Main perceptions
- 86% believe the Project will have a positive economic impact
- 80% believe mining projects strengthen regional pride
- 73% are confident that Falco will make its project acceptable and aligned with applicable societal and environmental expectations
- 61% believe Falco will take public opinion into account
The survey was conducted from February 27 to March 9, 2025, among 500 Abitibi-Témiscamingue residents aged 18 and over. The presumed margin of error is ±4.38%, 19 times out of 20. The survey can be viewed by clicking on the following link: https://bit.ly/3RfaMlZ
The Falco Horne 5 Project features a state-of-the-art mining operation that maximizes the use and rehabilitation of previously disturbed sites such as Quemont and Norbec. The Project will generate significant economic benefits, contributing approximately $3.8 billion to Québec's GDP, including $2.2 billion to the regional GDP, notably through the creation of 900 jobs during construction and 500 jobs during operations. By adding value to critical and strategic minerals, it will actively contribute to the energy transition and decarbonization of the economy.
ABOUT FALCO
Falco Resources is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi Greenstone Belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the camp and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 Project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder, with a 16% interest in the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Hélène Cartier
Vice President, Environment, Sustainable Development and Community Relations
514 216-8611
hcartier@falcores.com
FOR MORE INFORMATION ON THE METHODOLOGY:
Éric Normandeau
Strategic consultant, Léger
514 245-0195
enormandeau@leger360.com
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 STATEMENTS
This press release contains forward-looking statements and information (collectively " forward-looking statements ") within the meaning of applicable securities laws. These statements include references to the social acceptability and development of the Project, its economic spin-offs and positive impacts on employment, the benefits the Project will bring to the region, its key role in local and regional economic growth and job creation, and public support for the Project.
These statements are based on information currently available to the Company, and the Company provides no assurance that actual results will meet management's expectations. The occurrence of such events or the making of such statements are subject to several risk factors, including, without limitation, the risk factors identified in Falco's annual management report and other continuous disclosure documents available at www.sedarplus.com .
Although Falco believes that the assumptions and factors applied in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release, and there can be no assurance that such events will occur within the time frames disclosed or at all. As mentioned by Falco in its public disclosure and previous press releases, certain major issues have been raised by the Ministère in connection with the development of the Project and in the BAPE process, including the Project's compliance with section 197 of the Règlement sur l'assainissement de l'atmosphère (RAA). There can be no assurance or guarantee that the Ministère will change its position with respect to the application of section 197 of the RAA to the Project, that Falco will be able to respond to the Ministère's numerous additional requests in a timely manner or that Falco will be able to raise the funds necessary to pursue the additional studies requested by the Ministère, which could materially delay or prevent the granting of the required authorizations and thus adversely affect the development of the Project and Falco's financial condition. Except as required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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