Manuka Resources’ unique value proposition is focused on its three fully licenced projects, which include two precious metals assets in one of Australia’s most prolific regions for base and precious metals, and a company-making iron sands (vanadium and titanium co-products) project in New Zealand’s exclusive economic zone (EEZ) off the Taranaki bight. Manuka Resources is well-placed to deliver significant shareholder value, driven by a phased strategy that includes a clear pathway to near-term precious metals production.
Manuka Resources (ASX:MKR) is focused on bringing its precious metals assets in the Cobar Basin into production, as well as progressing its New Zealand domiciled Taranaki VTM iron sands project.
The company previously revealed a phased strategy focused on delivering maximum value to its shareholders. The first phase focused on bringing back the Mt Boppy gold mine into production and it released an optimised production plan for the mine restart. At the time, the company believed silver production would follow gold but noted it was flexible in this regard. In any event and simultaneous to this, will be the ongoing development of the Taranaki vanadium titano-magnetite (VTM) project.
The Cobar Basin located in the central-west of New South Wales, is one of the richest mining provinces in Australia, home to some of Australia’s largest mining companies and explorers.
The Mt Boppy gold mine was historically one of the richest in NSW, Australia and produced ~500,000 oz gold at an average grade of 15 grams per ton (g/t) gold. Accordingly, the company is very excited about its exploration potential.
Drone image looking South showing the main components of the Rock Dump and tailing resources in relation to the Mt. Boppy open pit.
The initial five-year mine plan is largely focused on the screening and processing of gold-bearing waste material above ground on the Mt Boppy mine site. The company had been processing these wastes from June 2023 to December 2023 at its Wonawinta plant and now will look to optimize the process.
The Wonawinta silver project will be the largest primary silver producer in Australia and expected to be back in silver production within 12 months. Manuka has released a maiden ore reserve (under its ownership) of 4.8Mt1 at 53.8g/t silver containing 8.4Moz of silver comprising proven ore reserves of 0.8Mt at 50.8g/t silver; and probable ore reserves of 4.1Mt at 54.3g/t silver. Ore Reserve is based solely on shallow (<40m deep) oxide material.
The Wonawinta 100tph Ball Mill
The gold and silver market appears to be in an upward trend, with prices for both precious metals hitting their all-time highs recently, in Australian dollar terms for silver, which bodes very positively for MKR.
The Mt Boppy gold project comprises three mining leases, four gold leases and one exploration license, spanning an area of more than 210 sq km in the prolific Cobar Basin in New South Wales, Australia. The project was acquired by Manuka in 2019 and has a current mineral resource of 4.3 Mt at 1.19 g/t gold. This includes a combination of oxidized and transitional/fresh mineralization in the ground, as well as mineralized rock dumps and tailings.
Historically, Manuka Resources has processed its stockpiles and gold mineralized waste products through its Wonawinta processing plant. However, inefficiencies associated with trucking and processing ore at the distant Wonawinta plant has led the company to revise its strategy. It is now looking to construct a processing plant at Mt Boppy so that ore from the mine can be processed on-site. Mt Boppy has excellent infrastructure including a 48-person mine camp and is fully permitted for the proposed processing plant and on-site production.
The updated mineral resource comprises 4.28 Mt at 1.19 g/t gold for 163 koz of contained gold, of which 82 percent is in the measured and indicated categories.
An on-site plant will offer significant cost savings and improve the project economics.
Manuka Resources anticipates Mt Boppy to deliver total EBITDA of >AU$90 million and cash flow of >AU$80 million over a five-year mine life.
The Wonawinta project is fully permitted with all the necessary infrastructure, including an 850,000 to 1 million tpa processing plant. The plant has been used for processing ore from Mt Boppy. The Wonawinta silver mine is currently under care and maintenance. The company is considering the possibility of resuming operations at Wonawinta, leveraging the improved silver price environment. Manuka has released a maiden ore reserve (under its ownership):
The maiden silver ore reserve and the preparation of an implementation plan for Wonawinta support the potential restart of silver mining and processing operations in the near
future. The company is reviewing its silver restart plans in light of the current price increases and expects to announce a decision before the end of May 2025.
The Taranaki VTM project is located within New Zealand's exclusive economic zone, approximately 22 to 36 kilometres offshore, outside the 12 nautical mile boundary from the coastline. The project boasts a JORC resource of 3.2 billion tons at 10.17 percent iron oxide, 1.03 percent titanium dioxide and 0.05 percent vanadium oxide. It holds a mining license allowing initial extraction of 50 million tons annually, resulting in 5 million tons of VTM concentrate per year for 20 years (concentrate grade of 56 to 57 percent iron, 8.5 percent titanium dioxide and 0.5 percent vanadium pentoxide). At this extraction rate, the JORC resource provides approximately 60 years of potential mining inventory.
The project was included in the New Zealand government's Schedule 2 of the Fast Track Approvals Act 2024. The next step for Manuka was to complete pre-feasibility study (“PFS”) on the project. This was released to the market on 26 March 2025 and presents an extremely robust economic outlook for the project as can be seen below.
Dennis Karp is a former commodities trader with nearly four decades of corporate experience. He started his career in 1983 and worked in HSBC until 1997 before moving to Tennant, one of Australia’s largest physical commodities trading companies with operations in Asia and Europe. He was a principal shareholder of Tennant Metals until 2010 and a managing director until December 2014. He founded ResCap in December 2014. Since then, he has participated in diverse resource projects and investment opportunities across base metals and bulk commodities. He holds a Bachelor of Commerce from the University of Cape Town.
Alan Eggers has over 40 years of experience in the mining sector. He is a geologist and was the founder of Summit Resources, which became an ASX top 200 company and was acquired by Paladin Energy in 2007 for AU$1.2 billion. Throughout his career, he has held director positions at numerous companies. He holds a Bachelor of Science, Honours, and Master of Science degrees from Victoria University of Wellington. He is recognized as a fellow of the Society of Economic Geologists and holds memberships in AusIMM and the Australian Institute of Geoscientists.
John Seton is a lawyer with extensive experience in the mineral resources sector. He has served as director in several ASX and NZX listed companies. He holds a Bachelor of Laws from Victoria University, Wellington, and a Master of Law (Honours) from the University of Auckland and is a chartered fellow of the New Zealand Institute of Directors.
Haydn Lynch has over 25 years of experience in M&A, capital markets and private equity. He has been involved in executing several domestic and cross-border transactions in various sectors including metals and mining, and industrials. He has held leadership roles in global investment banks, including Bankers Trust Australia, Investec Bank, RBC Capital Markets and Southern Cross Equities. He has undergraduate degrees in mechanical engineering and economics from the University of Queensland and a Master in Commerce from the University of New South Wales.
Dieter Engelhardt has over 30 years of experience in the mining industry including roles as senior metallurgist at Telfer Gold Mine and Northparkes Mines, resident manager at McKinnons Gold Mine, and manager of ore processing at CSA Mine. Engelhardt was employed by Newcrest Mining (now Newmont) in various roles, including as manager of ore processing and principal metallurgist.
Phil Bentley has over 40 years of experience in the mining industry across New Zealand, South Africa, and Australia, holding senior geological roles as well as senior management and director positions. He has worked as a chief geologist at Randgold Resources and Randgold & Exploration, Global Head of Exploration at Trafigura Mining Services, and Principal Geologist Africa at CSA Global South Africa. He is a Qualified person under NI 43-101 (Canada) and JORC (Australia) and is a Fellow of the South African Geological Society. He holds a Bachelor of Science (Honours) in Geology at Victoria University of Wellington. He also has a Masters of Science in Economic Geology at Victoria University of Wellington and a Master’s of Science in Mineral Exploration from Rhodes University, Grahamstown South Africa.
Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales
(TheNewswire)
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GRANDE PRAIRIE, ALBERTA - August 6, 2025 TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces its subsidiary, EnerCam Resources Co. Ltd. (Cambodia) ("EnerCam") has landed seismic equipment from seismic contractor GeneSeis Company Limited Thailand ("GeneSeis") to commence Cambodia's first onshore EnviroVibe oil and gas seismic for Block VIII ("Project").
Keith Edwards, Technical Manager of EnerCam, comments on the start of this type of seismic, "This program will provide comprehensive coverage over Block VIII and will guide our efforts going forward. We are excited about this search for Cambodia's first site for onshore oil and gas production and hopefully this seismic will lead to the first onshore well being drilled in Cambodia."
Due to border conflict issues which started in May and ceasefire agreements in late July, the equipment could not pass through land borders and therefore, five containers came into Sihanoukville port by ship and then were transported to the base camp of the seismic program.
Seismic teams are executing 350-line kilometers of two dimensional seismic over four identified sub basins on the west side of the license area plus a newly described ‘mussel basin' on the northeast side of the license.
Mike Weeks, President of EnerCam, states, "We are very pleased to be starting this seismic program on Block VIII; it is a huge milestone for both the company and the country. Overcoming the hurdles is a tribute to the team and we are expecting to see this program provide significant data towards drill targets for Cambodia's onshore oil and gas industry."
Following a multitude of scoping missions by the lead geoscientists of EnerCam, accompanied by graduate students from Institute of Technology of Cambodia (ITC) and logistics manager Bunchhay Yun, the team now prepares to start an environmentally friendly seismic program in the Kingdom of Cambodia. Keith Edwards, Technical Manager for EnerCam explains, "The EnviroVibe units use no dynamite but instead use the weight of the vehicle and a hydraulicly controlled vibrating pad to send acoustic (sound) waves into the sub-surface. This vibration is done with frequencies of 3-80Hz, 3 times for 12 seconds each time using two EnviroVibe vehicles that are synchronized. By spreading the energy over 36 seconds, we can operate in many environments with no negative impacts."
Management is expecting noise from rainfall or traffic to have less impact on the VibroSeis data than traditional impulsive sources such as dynamite or weight drop. Specific plans were made on access points to mitigate this and recent adjustments incorporated that into the planned program.
The teams have driven over 3720 kilometers, spent several weeks between May and July confirming the best routes to take for quality data, and have taken over 2900 photos of terrain as part of the data collection prior to seismic lines.
Between 35-40 personnel are now deployed to execute the 2-D seismic over the verified roads and access points. All affected landowners, community and commune authorities have been contacted and have given permission for EnerCam to proceed. The program started yesterday and is expected to take a minimum of four weeks to cover the destination routes to acquire the necessary data.
Click Image To View Full Size
Click Image To View Full Size
Figure 1 Mike Weeks in foreground of Envirovibe machine and several staff sorting
through some of the 2000+ geophones.
Figure 2: Over 2000 geophones, which convert ground movement into voltage, form part of the equipment for the 350 line kilometers from which vibrations will be measured.
Click Image To View Full Size
Figure 3 New Oil Seeps identified on most the recent Scouting Mission on July 29 2025.
ABOUT Angkor Resources CORPORATION:
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions. The company's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII. The company then removed all parks and protected areas to reduce the size to just over 3700 square kilometers. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.
CONTACT: Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on , , , Instagram and .
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.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Forte Minerals Corp . (" Forte " or the " Company ") ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce the expansion of its capital markets capabilities with three strategic initiatives:
These additions support Forte's commitment to investor engagement, capital markets excellence, and digital transparency.
Strategic Advisory from Proven Mining Dealmakers
Forte has retained Mills Dunlop Capital Partners (MDCP), an independent M&A and strategic advisory firm led by Russell Mills and Brodie Dunlop, to provide strategic and advisory guidance. With deep experience in structuring complex mining transactions, MDCP brings a proven record of execution and capital markets insight.
MDCP offers:
"Russell and Brodie bring a rare combination of mining knowledge, transactional experience, and corporate connectivity," said Patrick Elliott , President & CEO. "Their advisory will be critical as we evaluate strategic opportunities and position Forte for long-term success."
Port Guichon Strategic Advisory Appointed as Investor Relations & Capital Markets Specialist
Forte Minerals Corp. is pleased to welcome Kevin Guichon , Principal of Port Guichon Strategic Advisory, to lead its Investor Relations and Capital Markets strategy. Kevin brings over a decade of experience in the Canadian securities industry, including his tenure at Haywood Securities Inc., where he progressed from operations to trading and advisory services.
He will oversee investor outreach and guide capital markets strategies, working closely with Anna Dalaire, VP of Corporate Development, to expand Forte's corporate messaging, strengthen relationships with existing shareholders, and build new connections across the investment community.
As part of his engagement, Kevin will be compensated at C$4,000 per month and has been granted 200,000 stock options, exercisable at C$0.80 per share for five (5) years, under the Company's incentive stock option plan, subject to regulatory approval.
"Kevin understands both the language of capital markets and the needs of investors," said Elliott. "His ability to simplify complex opportunities and build trusted relationships will elevate our investor communications."
Now Live: AI-Powered Investor Platform on ForteMinerals.com
Forte has officially launched its AI-powered investor engagement platform, a partnership with Versance.ai, providing instant access to the company's regulatory filings, investor questions and insights.
Now live at www.forteminerals.com , the platform offers:
"Transparency isn't optional," said Anna Dalaire , VP Corporate Development and Corporate Secretary. "At Forte, we believe in building real relationships with our shareholders; our team is always here to connect. But we also understand that today's investors want answers now. Communication doesn't just happen through press releases anymore; it's multi-channel, on-demand, and constant. This AI tool gives investors 24/7 access to the information they need, while keeping compliance front and center."
Corporate Update: Option Grants
The Company also announces that, pursuant to its existing stock option plan, it has granted an aggregate of 1,450,000 stock options (the "Options") to directors, officers, and consultants of the Company. These Options are exercisable at C$0.80 per share and expire five (5) years from the date of grant, subject to applicable regulatory approvals.
ABOUT Forte Minerals CORP.
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C. , the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.
On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott"
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer
Forte Minerals Corp.
For further information, please contact:
Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976
Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847
info@forteminerals.com
www.forteminerals.com
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Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75063682-5dba-4c3f-a217-79a1b9b82868
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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce that drilling has commenced on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).
Highlights
The recent exploration work over the past three months by Riverside has improved the understanding of the structural geology and stratigraphy in the Sierra El Viejo, the mountain range immediately to the west of La Union Project. The La Union district lies along the flanks of this range, where these updated interpretations help guide current exploration efforts. The exploration target focus is for a large potential gold discovery that expands from previous smaller scale mine operations on the property. The drill program will begin to test the new concepts and expand past previous mining.
Saf Dhillon, President & CEO states, "Questcorp is proud to be working with John-Mark and his whole team at Riverside in what is a historic moment in the development of this property. The La Union Project has had work conducted on it for decades, including the production of 50,000 ounces of gold itself but, it has never had a drill bit pierce the ground until now!"
Earlier this year, Questcorp entered into a definitive option agreement with Riverside's wholly owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. to acquire a 100% interest in the La Union Project. As part of the agreement, Questcorp issued shares to Riverside, making Riverside a shareholder and aligning both parties' interests in the Project's success. With funding provided by Questcorp, an initial C$1,000,000 exploration program is now underway. This marks the first phase of a larger, C$5,500,000 work commitment, contingent on exploration results and Questcorp's continued participation.
The Drill Program Targets include more than four different areas, beginning with this early-stage stratigraphic and orientation phase of drilling exploration aimed at evaluating the scale of alteration and indications of a mineralized system. This will be the first drilling ever conducted on most of the targets, despite past mining having occurred in the majority of these areas. The initial program will consist of one to three holes per area, primarily for orientation purposes. Follow-up drilling is planned and can be expanded based on initial results, which will help verify the stratigraphy, lithologies, and structural features allowing for improved modeling and next-stage discovery targeting. The four areas are listed below:
General Overview of La Union Project
The Project is summarized in a recently published NI 43-101 Technical Report available under Questcorp's SEDAR+ profile (www.sedarplus.ca). Riverside initially acquired the Project and subsequently consolidated additional inlier mineral claims, building a strong land position. Riverside then advanced the Project through surface access agreements and drill permitting, making it a turn-key exploration opportunity for Questcorp.
The Project was originally identified through Riverside's exploration work in the western Sonora Gold Belt, conducted in collaboration with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochschild Mining Plc. Earlier research by Riverside Founder John-Mark Staude also contributed to recognizing the district's potential. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, further confirmed the region as highly prospective.
At the Project, historical mining by the Penoles Mining Company targeted chimney and manto-style replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones represent immediate and compelling drill targets for further exploration.
The Project features favorable limestone host rocks, an extensive alteration footprint, and multiple small-scale historical workings, with mineralization styles similar to those at the Hermosa Project in southern Arizona. At Hermosa, South32 is advancing mine development following its acquisition of the project from Arizona Mining. On 15 February 2024, South32's board approved a US $2.16 billion capital investment to develop the Taylor zinc-lead-silver deposit, representing the largest private mining investment in Southern Arizona's history. The project is now considered one of the most significant undeveloped base-metal assets in the United States.
At the La Union Project, immediate drill targets offer the potential for significant-scale discoveries. La Union is well positioned for near-term exploration success, with targets that include both oxide and deeper sulfide mineralization.
Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. All mineral tenures on this map comprise the La Union project. The drill program will focus on the Union Mine and areas north of the Union Mine with the initial drill work.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/261433_a2ed3d4fb471dade_001full.jpg
Figure 2. Cross section looking west with conceptual drill targets and schematic drillhole traces. Assays from Riverside's sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC and in published NI 43-101 Report that Questcorp published 2025 on Sedar+.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/261433_a2ed3d4fb471dade_002full.jpg
The La Union Project
The La Union Project is a carbonate replacement deposit ("CRD") project hosted by Neoproterozoic sedimentary rocks (limestones, dolomites, and siliciclastic sediments) overlying crystalline Paleoproterozoic rocks of the Caborca Terrane. The structural setting features high-angle normal faults and low-to-medium-angle thrust faults that sometimes served as mineralization conduits. Mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content, as shown in highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model (see the technical report entitled "NI 43-101 Technical Report on the Union Project, State of Sonora, Mexico" dated effective May 6, 2025 available under Questcorp's SEDAR+ profile). These targets also demonstrate intriguing potential for large gold discoveries potentially above an even larger porphyry Cu district potential as the Company's target concept at this time.
Questcorp cautions investors that grab samples are selective by nature and not necessarily indicative of similar mineralization on the property.
The technical and scientific information in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a director of the Company and a "qualified person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Questcorp Mining Inc.
Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.
Contact Information
Questcorp Mining Corp.
Saf Dhillon, President & CEO
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Riverside's arrangements with geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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 as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261433
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(TheNewswire)
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VANCOUVER, BC TheNewswire - August 5, 2025 Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that, further to its news release dated July 22, 2025, it has closed the first tranche of the non-brokered listed issuer financing exemption (" LIFE ") private placement of 17,687,714 units, of the max offering, 18,187,725 units (" Units ") at a price of $0.035 per Unit for gross proceeds of ~C$619,070, of the max offering, C$636,570 (the " Offering "). The Company anticipates closing of final tranche in short order.
A non-brokered "best-efforts basis" LIFE financing of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to $635,570 for units of the Company (each, a " Unit ") at a price of $0.035 per Unit, with each Unit being comprised of one (1) common share of the Company (each a " Common Share ") and one (1) common share purchase warrant (a " Warrant ") granting the holder the right to purchase one (1) additional Common Share of the Company (a " Warrant Share ") at a price of $0.05 at any time on or before 36 months from the Closing Date (as defined herein), which securities shall be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 ").
The Company paid an aggregate ~C$$43,335 in cash commissions and issued an aggregate 1,238,139 compensation options (the " Compensation Options ") in connection with the Offering. Each Compensation Option entitles the holder to acquire one additional Unit at a price of $0.035 for a period of 36 months following the date of issuance.
Proceeds of the Offering will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project and Contact Bay, in addition to general working capital .
"We are very pleased to have closed the first tranche of the LIFE Offering successfully and appreciate the continued support from both new and existing shareholders. Notably, we received lead orders totaling approximately $450,000, a strong endorsement from a strategic investor who share our long-term vision.
With the majority of our results from our 2025 exploration program still outstanding, we look forward to communicating results as they are received and reporting back shortly on our due diligence site visit to the Melba Project." Commented Peter Schloo, President, CEO, and Director of 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:
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.
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