Lahontan Gold is on track to become a leading gold developer in Nevada’s Walker Lane district, presenting a compelling investment opportunity by combining a high-quality resource base with a clear path to production in Nevada’s premier mining jurisdiction — all in a rising gold price environment.
Lahontan Gold (TSXV:LG,OTCQB:LGCXF) is focused on advancing its portfolio of high-quality gold and silver projects in Nevada. The company’s flagship Santa Fe mine was a past producer that operated from 1988 to 1992, yielding 356,000 ounces of gold and 784,000 ounces of silver. Lahontan aims to unlock the mine’s full potential by expanding its resources and pushing forward on permitting.
The company recently completed a robust preliminary economic assessment( PEA) outlining a clear pathway to production. Permitting efforts are progressing with the Bureau of Land Management, and Lahontan anticipates being in a position to break ground by 2026.
Additionally, strategic drilling campaigns are planned to further expand the existing resource base.
The company's strategy to unlock shareholder value is to advance the Santa Fe mine toward production by derisking the project through permitting and feasibility studies, while optimizing heap leach processing for maximum recoveries and economic efficiency. Concurrently, it is unlocking value from satellite deposits, including West Santa Fe, which has high-grade oxide potential, and Moho, an early-stage project with promising historic gold and silver intercepts.
Positioned as a low-cost developer in a top-tier jurisdiction, the company maintains strong institutional support with minimal dilution risk, ensuring capital efficiency and sustainable growth.
The Santa Fe mine, located in Mineral County, Nevada, spans 26.4 sq km and represents Lahontan Gold’s flagship development project. With an updated mineral resource estimate of 1.95 Moz gold equivalent, the project hosts multiple oxide and sulfide zones that remain open for expansion.
Historical production from the Santa Fe mine yielded 356,000 oz gold and 784,000 oz silver from an open-pit heap leach operation. Modern exploration and metallurgical testing have identified additional high-grade mineralization that could support an expanded operation.
The recently completed PEA indicates strong economic potential, with favorable heap leach recoveries and low operating costs. Lahontan is actively working with the Bureau of Land Management to advance the permitting process, with the goal of achieving production readiness by 2026.
The West Santa Fe project, situated just 13 km from the Santa Fe mine, is a highly prospective satellite project that could serve as an extension of the main operation. Historic drill data suggest the presence of a shallow oxide deposit, with early resource modeling indicating a potential gold equivalent resource of 0.5 to 1 Moz.
West Santa Fe’s excellent resource growth potential
Lahontan is preparing for an extensive drill program in 2025 to validate and expand this resource. Geophysical surveys and geochemical sampling have identified strong structural controls on mineralization, further supporting the potential for economic extraction. Given its proximity to Santa Fe, West Santa Fe offers a compelling low-cost, high-margin opportunity for future production.
The Moho project is another 100 percent owned asset within the Walker Lane district in Nevada, presenting a longer-term growth opportunity for Lahontan. The project is characterized by historic high-grade gold and silver intercepts from past drilling, with reported grades exceeding 20 g/t gold and 300 g/t silver. Initial exploration has confirmed the presence of oxidized tertiary epithermal vein systems, which are ideal for conventional heap leach processing. Core drilling in 2019 further validated the high-grade nature of Moho’s mineralization, with significant intercepts occurring at relatively shallow depths. Lahontan plans to conduct additional exploration drilling to refine resource estimates and assess potential economic viability.
Kimberly Ann is a mining executive who has founded multiple junior mining companies and served in a variety of senior executive positions including CEO, president, CFO and board member. In the past 12 years, she has raised over $210 million in project financing and collaborated on three junior mining M&A projects. While at Prodigy Gold, she was responsible for all aspects of the company’s corporate communication program, facilitating equity financings, generating analyst coverage, and participating in key aspects of corporate M&A leading to the $340 million buyout of Prodigy by Argonaut Gold. Kimberly was CFO and VP corporate development at PPX Mining, successfully bringing the high-grade Callanquitas gold-silver underground mine into production in Northern Peru. In 2017, she founded Latin America Resource Group, building Jasperoide from two small concessions into a 57 sq km strategic project in the heart of Peru’s most prolific copper-gold mineralized belt. In 2020, LARG merged with Carube Copper to create C3 Metals, setting the stage for value creation throughout C3’s project portfolio.
Brian Maher is an economic geologist with over 45 years of experience in the international mining and exploration industry. Prior to Lahontan, Maher was the president, CEO and director of Prodigy Gold, where he guided the company through a period of expansive growth, exploring and developing the 6.6 Moz Magino gold deposit in northern Ontario, culminating in the $341 million acquisition of Prodigy Gold by Argonaut Gold in 2012. In 1982, he began a 16-year career with ASARCO, exploring for gold and copper deposits in a variety of geologic environments throughout North and South America. From 1998 and 2004, he was project manager for Metallic Ventures Gold, supervising underground and surface exploration, mine development and operations at an underground gold mine in Nevada.
John McNeice is a chartered professional accountant registered in Ontario, Canada, with over 30 years of experience in public company reporting, financial management, accounting and audit. Currently McNeice is the CFO of Gold79 Mines (TSXV:AUU), C3 Metals (TSXV:CCCM) and Northern Graphite (TSXV:NGC), where he is responsible for financial and regulatory reporting as well as day-to-day financial management. He has held CFO roles in seven public resource companies over the past 17 years and has overseen IPOs, RTOs and many quarterly, annual and periodic public company filings. From 2004 to 2007, McNeice was CFO of Ur-Energy, a uranium exploration and development company now a US-based producer of uranium. During his tenure, Ur-Energy raised an aggregate of $150 million in a series of private placements, the IPO and several significant secondary financings.
Chris Donaldson is an experienced executive with a 25-year track record of raising funds and building out new investment channels for both public and private companies. He is the CEO and director of Valkea Resources (TSXV:OZ), CEO and executive chairman of TinOne Resources (TSXV:TORC), and a non-executive director of Vizsla Copper (TSXV:VCU). From 2013 to 2020, Donaldson held the dual role of director, corporate development with Western Copper and Gold (TSX:WRN,NYSE:WRN) as well as director, corporate development and Community with Casino Mining Corporation. He holds a Bachelor of Arts in Economics from the University of Western Ontario.
Josh Serfass is the executive vice-president of corporate development and investor relations at Integra Resources. Previously, he was the manager of corporate communications at Integra Gold. He was a key member of the team at Integra Gold that grew, developed and sold the past producing Lamaque mine in Val-dOr, Québec to Eldorado Gold for C$590 million in 2017. Committed to thinking differently about mining, Serfass worked with the team at Integra Gold to host the 2016 Integra Gold Rush Challenge and the 2017 #DisruptMining Challenge, initiatives that encouraged innovation and technology disruption in the mining industry.
Currently, executive VP, corporate development and CFO at NevGold, Bob McKnight is a geological engineer and mining executive with over 40 years of experience in copper, gold, base metals, coal and potash. Directly involved in over $1.5 billion in project debt, equity, stream financings and M&A transactions, he was an executive VP and CFO at Nevada Copper arranging over $500 million in debt, equity and metal stream financings to develop the Pumpkin Hollow copper mine. He was also CFO and VP at Expatriate Resources, which spun out Stratagold, Yukon Zinc and Selwyn Resources. In 2004, Stratagold acquired what is now Victoria Gold’s Eagle deposit from a subsidiary of Vedanta for $6 million cash and 5 million Stratagold shares.
Near-term gold production pathway in the highly prolific Walker Lane district in Nevada
Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) Positioned in Nevada's prolific mining region, Lahontan Gold Corp. is advancing a proven gold asset with a strategy focused on near-term production and resource expansion. By fast-tracking development in a stable jurisdiction, the company aims to generate cash flow while continuing to grow its gold resource.
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF)
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the "Company" or "Lahontan") is pleased to announce that, further to its press release of January 17, 2025, the Company has closed its non-brokered private placement financing for gross proceeds of Cdn$720,000 through the issuance of 36,000,000 common shares (each, a "Common Share") in the capital of the Company at a price of Cdn$0.02 per Common Share (the "Offering").
The Company also wishes to announce that Victoria Gold Corp. ("Victoria") has completed the sale of 42,132,139 Common Shares of Lahontan (the "Victoria Sale"), representing 17.4% of the Company's outstanding Common Shares, after giving effect to the Offering. The sale was made through a share purchase agreement in reliance upon the prospectus exemptions contained in NI 45-102. Lahontan understands the purchasers to be comprised of existing shareholders, including two prominent precious metals institutional investors.
Kimberly Ann, Lahontan Gold Corp CEO, Chair, and Founder commented: "The Company is very pleased to close this fully subscribed no-warrant Offering and to see the completion of the Victoria Sale. Following closing of the Offering and completion of the Victoria Sale, a significant majority of the Company's Common Shares are now held by a group of very supportive long-term investors, including Company management, who share a common vision of the Company's future and the full development of the Santa Fe Mine project. In particular, the Victoria Sale removes a significant share overhang which we believe has negatively affected the Company's share price since Victoria announced on August 15, 2024 that it had entered into receivership. With management aligned with our key shareholders, Lahontan looks forward to a successful 2025, driving forward our mine permitting activities and targeting opportunities to enhance the Santa Fe Mine project Preliminary Economic Assessment."
Gross proceeds raised from the Offering will be used for general working capital purposes as follows: (i) approximately 29% will be used for general and administrative purposes; (ii) approximately 29% will be used for exploration at the Company's Santa Fe Mine project; (iii) approximately 17% will be used for metallurgical testing and supporting consultants for the Company's Santa Fe Mine project; and (iv) approximately 25% will be used at the Company's Santa Fe Mine project for exploration permitting. Less than 10% of the proceeds from the Offering will be used for payments to non-arm's length parties of the Company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes or to persons conducting investor relations activities.
All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance (June 5, 2025) and the resale rules of applicable securities legislation.
The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as an insider of the Company acquired 10,000,000 Common Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4km2 Santa Fe Mine project, had past production of 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Division of Minerals, www.ndomdata.com). The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: www.lahontangoldcorp.com.
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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Company: Lahontan Gold Corp.
TSX-Venture Symbol: LG
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the "Company" or "Lahontan") is pleased to announce a non-brokered private placement financing for gross proceeds of up to $720,000 through the issuance of up to 36,000,000 common shares (each, a "Common Share") in the capital of the Company at a price of $0.02 per Common Share (the "Offering"). The offering is nearly fully subscribed by existing major shareholders.
Gross proceeds raised from the Offering will be used for general working capital purposes as follows: (i) approximately 29% will be used for general and administrative purposes; (ii) approximately 29% will be used for exploration at the Company's Santa Fe Mine Project; (iii) approximately 17% will be used for metallurgical testing and supporting consultants for the Company's Santa Fe Mine Project; and (iv) approximately 25% will be used at the Company's Santa Fe Mine Project for exploration permitting. Less than 10% of the proceeds from the Offering will be used for payments to non-arm's length parties of the Company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes or to persons conducting investor relations activities.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Division of Minerals, www.ndomdata.com). The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). For more information, please visit our website: www.lahontangoldcorp.com
* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and Kenji Umeno, P. Eng., Effective Date: October 9, 2024, Report Date: November 27, 2024. The Technical Report is available on the Company's website and SEDAR+.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email:
Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce results from an additional five reverse-circulation rotary ("RC") drill holes from the Company's Phase Two drilling campaign exploring the Slab pit area of the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. The five drill holes, totaling 1,111 metres, are the final drill holes of the Company's Phase Two drilling campaign. The drill holes targeted down-dip extensions of oxidized gold and silver mineralization east and northeast of the Slab pit. Past mining and historic drilling had outlined significant potential oxide and transition domain resources east of the Slab pit that remained open down dip from the pit. Highlights include
West-East (left to right, please see map below) cross section through drill holes CAL21-001C, CAL22-009R, and new drill hole CAL22-016R east of the Slab pit, Santa Fe Project, Mineral County, Nevada. The interpreted 0.2 gpt Au grade shell (cross-hatched) shows the stacked nature of the mineralization and greatly expands oxide and transition domain gold mineralization east of the Slab pit and across a prominent post-mineral fault. The drilling confirms the potential for additional shallow gold and silver mineralization north and east of the Slab pit.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: "Lahontan is excited to release the final results from our 2022 Phase Two reverse-circulation drilling campaign. The entire program was successful in extending mineralization to the north and east of the Slab Pit and along the Calavada Fault. The drilling also confirmed the important correlation between thick, tabular, gold and silver mineralization and areas of low magnetic response. This correlation generates multiple large-scale drilling targets throughout the property and underscores the huge size of the Santa Fe hydrothermal system. The next benchmark for Lahontan will be the release of our maiden mineral resource estimate ("MRE") for the entire Santa Fe Project, expected early in Q1 2022. Work on the MRE is well underway and on schedule".
Drill hole location map with reduced to pole residual magnetics, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada.
Drill Hole | Total Depth | From | To | Interval | Au | Ag | Au Eq | Metallurgical |
CAL22-012R | 249.9 | 53.3 | 59.4 | 6.1 | 0.25 | 0.9 | 0.26 | Oxide |
and: | 70.1 | 89.9 | 19.8 | 0.20 | 1.8 | 0.22 | Oxide | |
CAL22-013R | 249.9 | 33.5 | 44.2 | 10.7 | 0.20 | 8.9 | 0.32 | Oxide |
CAL22-014R | 198.2 | 4.6 | 13.7 | 9.1 | 0.39 | 1.4 | 0.41 | Oxide |
and: | 91.4 | 102.1 | 10.7 | 0.22 | 0.5 | 0.23 | Oxide | |
CAL22-015R | 199.6 | 21.3 | 83.8 | 62.5 | 0.33 | 2.6 | 0.36 | Oxide |
including: | 50.3 | 56.4 | 6.1 | 1.04 | 1.4 | 1.06 | Oxide | |
CAL22-016R | 213.4 | 140.2 | 172.2 | 32.0 | 0.59 | 4.4 | 0.65 | Oxide and Transition |
including: | 140.2 | 146.3 | 6.1 | 1.18 | 14.4 | 1.37 | Oxide and Transition | |
and: | 199.6 | 208.8 | 9.2 | 0.14 | 20.6 | 0.41 | Oxide and Transition |
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries. True thickness of the intercepts shown above are estimated to be 90-95% of the drilled interval.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188 gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respectively. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt).
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company is continuing an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in Q1 2023. For more information, please visit our website: www.lahontangoldcorp.com.
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE:Lahontan Gold Corp.
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Yukon Metals Corp. (CSE: YMC) (FSE: E770) (OTC: YMMCF) (" Yukon Metals " or the " Company ") is pleased to announce that in connection with its previously announced "best efforts" private placement, the Company and Cormark Securities Inc. together with Canaccord Genuity Corp. (the " Co-Agents "), have agreed to increase the size of the previously announced private placement for aggregate gross proceeds of up to approximately C$10 million (the "Offering" ).
The Offering will consist of the issuance and sale of 18,181,818 units of the Company (the " Units ") at a price of C$0.55 per Unit (the " Issue Price "). Each Unit will consist of one common share of the Company (each, a " Unit Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a " Warrant Share ") at a price of C$0.80 at any time before 5:00 p.m. ( Toronto time) on the date that is 36 months following the Closing Date (as defined below).
The Company has granted the Co-Agents an option, exercisable in whole or in part, at any time prior to 48 hours before the Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$1,500,000 .
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Units will be offered for sale to purchasers resident in Canada , except Québec, or other qualifying jurisdictions pursuant to one or more of the following exemptions from the prospectus requirement under National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "): (i) the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "); and (ii) other available exemptions under NI 45-106. To the extent that any Units exceed the maximum value of securities permitted to be sold pursuant to the Listed Issuer Financing Exemption, such Units shall be offered and sold by way of a concurrent private placement in reliance on other available exemptions from the prospectus requirements under applicable securities laws. The Co-Agents will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933 , as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to acquire securities in any jurisdiction.
There is an amended and restated offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at www.sedarplus.ca and the Company's website at https://yukonmetals.com/ . Purchasers of Units issued under the Listed Issuer Financing Exemption will have the benefit of the amended and restated offering document and the rights provided under the Listed Issuer Financing Exemption. Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this amended and restated offering document before making an investment decision.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
The Offering is expected to close on or about April 9, 2025 , or on such other date as may be agreed to by the Company and the Co-Agents, subject to compliance with applicable securities laws (the " Closing Date "). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day after the news release dated March 26, 2025 .
The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the Canadian Securities Exchange.
About Yukon Metals Corp.
Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical and finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing stakeholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures.
The Yukon
The Yukon ranks 10th most prospective for mineral potential across global jurisdictions according to the Fraser Institute's 2023 Survey of Mining Companies and is host to a highly experienced and conscientious local workforce, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold's Rogue Project – Valley Discovery, demonstrate the Yukon's potential to generate fresh district-scale mining opportunities.
"ON BEHALF OF THE BOARD OF YUKON METALS CORP."
"Rory Quinn"
Rory Quinn
President & CEO
Email: roryquinn@yukonmetals.com
Phone: 604-366-4408
Cautionary Note Regarding Forward-Looking Statements and Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the receipt of regulatory approvals and future results of operations, performance and achievements of the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties with respect to obtaining all regulatory approvals to complete the Offering, uncertainties of the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the Yukon having the potential to generate fresh district-scale mining opportunities and other risks identified in its disclosure documents filed at www.sedarplus.ca . This news release is not, and is not to be construed in any way as, an offer or recommendation to buy or sell securities in Canada or in the United States.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise any forward-looking statements to reflect new events or circumstances, except in accordance with and as required by applicable securities laws.
SOURCE Yukon Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/March2025/27/c7073.html
News Provided by Canada Newswire via QuoteMedia
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the results of a technical report in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI-43-101") for the Company's Back River Gold District located in Nunavut, Canada titled "Goose Project and Back River District, Nunavut, Canada, NI 43-101 Technical Report" (the "Back River Technical Report"), dated effective December 31, 2024. The primary purpose of the Back River Technical Report is to provide an updated life of mine plan for the Goose Project based solely on an updated Mineral Reserve estimate. All dollar figures are in United States dollars unless otherwise indicated. The Back River Technical Report will be filed on SEDAR+ before March 31, 2025.
The Back River Gold District consists of 11 mineral claims blocks along an 80-kilometer ("km") belt. Construction is underway at the most advanced project in the district, Goose, with construction and development on schedule for first gold pour in the second quarter of 2025, followed by ramp up to commercial production expected in the third quarter of 2025.
Highlights of the Back River Technical Report
Back River Technical Report Overview
The Back River Technical Report was prepared by B2Gold technical staff, with an effective date of December 31, 2024, and evaluates recovery of gold from four open pit deposits and one underground deposit. The open pit mining operation contemplates moving up to approximately 50,000 tpd (approximately 18 million tonnes per annum ("Mtpa")), while the underground mining operation contemplates mining up to approximately 1,600 tpd (approximately 0.6 Mtpa). Open pit and underground ore is expected to be processed in a 4,000 tpd (approximately 1.5 Mtpa) processing plant that includes crushing, grinding, gravity concentration, with fine grinding and agitated leaching of the ore, followed by a carbon-in-pulp recovery process to process doré bullion. The Mineral Reserve estimate for the Goose Project that forms the basis for the Back River Technical Report includes Probable Mineral Reserves of 11.3 million tonnes grading 6.82 g/t gold for a total of 2,480,000 ounces of gold.
The Back River Technical Report assumptions include revenues using broker consensus gold price forecast, which includes a long-term gold price assumption of $2,212 per ounce, and current prices for the Canadian dollar exchange rate, fuel, reagents, labour, power and other consumables. The key parameters of the technical report are presented in the following tables:
Table 1 – Summary Results of the Goose Project Mineral Reserve Life of Mine Plan
| Representative Steady State Years (2027 – 2031) | Mineral Reserve Life of Mine | |
| Production Profile | ||
| Years | 5 | 9 |
| Ore tonnes processed (Mt) | 7.1 | 11.3 |
| Average gold grade processed (g/t) | 7.40 | 6.82 |
| Gold recovery (%) | 92.5 | 92.5 |
| Gold ounces produced (oz) | 1,553,000 | 2,294,000 |
| Average annual gold production (oz) | 311,000 | 270,000 1 |
| Operating Costs | ||
| Cash operating costs 2 ($/oz gold) | 962 | 1,129 |
| All-In Sustaining Costs 3 ($/oz gold) | 1,363 | 1,547 |
| Open pit mining cost ($/t moved) | 4.53 | 4.62 |
| Underground mining cost ($/t mined) | 109.89 | 116.76 |
| Processing cost ($/t processed) | 44.55 | 45.04 |
| Site general cost ($/t processed) | 64.00 | 68.31 |
| Distributable MLA and WIR ($/t processed) | 40.83 | 43.44 |
| Capital Costs | ||
| Sustaining capital ($M) 4 | 141 | 279 |
Notes:
Back River Gold District Mineral Resource Estimate Details
Table 2 – Back River Gold District Mineral Resource Estimate
| Category | Mine, Project or Area | Tonnes (x 1,000) | Gold Grade (g/t Au) | Contained Gold Ounces (x 1,000) |
| Indicated | Goose Claims Group | 15,460 | 7.16 | 3,560 |
| Indicated | George Claims Group | 1,680 | 7.85 | 420 |
| Total Indicated Mineral Resources | 17,140 | 7.23 | 3,990 | |
| Category | Mine, Project or Area | Tonnes (x 1,000) | Gold Grade (g/t Au) | Contained Gold Ounces (x 1,000) |
| Inferred | Goose Claims Group | 10,060 | 7.54 | 2,440 |
| Inferred | George Claims Group | 3,730 | 9.32 | 1,120 |
| Total Inferred Mineral Resources | 13,780 | 8.02 | 3,550 | |
Notes:
Goose Project Mineral Reserve Estimate Details
Table 3 – Goose Project Mineral Reserve Estimate
| Category | Mining Method | Tonnes (x 1,000) | Gold Grade (g/t Au) | Contained Gold Ounces (x 1,000) |
| Probable | Open Pit | 7,300 | 6.19 | 1,450 |
| Probable | Underground | 3,800 | 8.30 | 1,010 |
| Probable | Stockpiles | 240 | 2.76 | 21 |
| Total Probable Mineral Reserves | 11,300 | 6.82 | 2,480 | |
Notes:
Goose Project Development
B2Gold recognizes that respect and collaboration with the Kitikmeot Inuit Association ("KIA") is central to the license to operate in the Back River Gold District and will continue to prioritize developing the project in a manner that recognizes Inuit priorities, addresses concerns, and brings long-term socio-economic benefits to the Kitikmeot Region. B2Gold looks forward to continuing to build on its strong collaboration with the KIA and Kitikmeot Communities.
All planned construction activities in 2024 were completed and project construction and development continue to progress on track for first gold pour at the Goose Project in the second quarter of 2025 followed by ramp up to commercial production in the third quarter of 2025. The Company continues to estimate that gold production in 2025 will be between 120,000 and 150,000 ounces.
The 2025 Winter Ice Road campaign is well underway with the transportation of all materials from the Marine Laydown Area to the Goose Project expected to be completed by mid-May 2025.
Development of the open pit and underground remain the Company's primary focus to ensure that adequate material is available for mill startup and that the Echo pit is available for tailings placement. Open pit mining of the Echo pit continues to meet production targets and is anticipated to be ready to receive tailings when the mill starts. The Umwelt underground development remains on schedule for the commencement of high-grade stope ore production in the third quarter of 2025.
Based on the construction and mine development cash expenditures incurred to date, combined with the estimated expenditures to be incurred through to first gold pour in the second quarter of 2025, the Company reiterates the total Goose Project construction and mine development cash expenditure estimate of C$1,540 million, as announced on September 12, 2024.
Goose Project Opportunities
With first gold production for the Goose Project expected within three months, B2Gold has begun multiple optimization studies with the goal of maximizing the long-term value of the Back River Gold District. These studies include:
In connection with these studies, B2Gold will be reviewing any regulatory requirements and engaging with the KIA and local communities to ensure any optimization of the Goose Project provides benefits to all stakeholders.
Based on the updated Goose Project Mineral Resource estimate combined with the exploration upside across the Goose Project claim block, and with the optimization studies listed above, the Company plans on initiating a formal study to analyze the potential to increase mill throughput at the Goose Project from 4,000 tpd potentially up to 6,000 tpd. The Goose Project is currently permitted for mill throughput of up to 6,000 tpd, so no additional permits or permit amendments would be required if the results of the formal study on a mill expansion are positive. The results of this study and the corresponding changes to the economics of the Goose Project are expected to be finalized in late 2025 or early 2026, with the results anticipated to be press released once completed.
Back River Gold District Exploration
The updated Back River Gold District Mineral Resource estimate provides a strong baseline for B2Gold's exploration team to continue building on. Areas of significant focus for the 2025 exploration program at the Back River Gold District include the following:
The Company anticipates that based on the objectives of the 2025 and future exploration programs at the Back River Gold District, there is potential to further convert more Inferred Mineral Resources to Indicated Mineral Resources as well as continue to grow the total Mineral Resource inventory across the entire nearly 100,000-hectare land package.
About B2Gold
B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.
Qualified Persons
Peter Montano, P.E., Vice President, Projects, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters contained in this news release.
Andrew Brown, P. Geo., Vice President, Exploration, a qualified person under NI 43-101, has approved the scientific and technical information related to exploration and mineral resource matters contained in this news release.
ON BEHALF OF B2Gold Corp.
"Clive T. Johnson"
President and Chief Executive Officer
Source: B2Gold Corp.
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
Production results and production guidance presented in this news release reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 14, 2024 for a discussion of our ownership interest in the mines B2Gold operates.
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation, including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets; future or estimated mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, and ore processing; statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and including, without limitation: estimate of Mineral Reserves and Mineral Resources; statements regarding the anticipated conversion of Inferred Mineral Resources to Indicated Mineral Resources; Life of Mine production of approximately 2.3 million ounces of gold; average gold production of 310,000 ounces per year from 2027 through 2031; estimate of producing 120,000 to 150,000 ounces in 2025; AISC of approximately $1,360 per ounce from 2027 to 2031 and projected AISC of approximately $1,547 per ounce over the Life of Mine; the potential to significantly increase the Mineral Reserve estimate in the future; B2Gold's continued prioritization of developing the Goose Project in a manner that recognizes Inuit priorities, addresses concerns and brings long term socio-economic benefits to the Kitikmeot Region; the potential for first gold pour in the second quarter of 2025 and commercial production in the third quarter of 2025; and the total Goose Project construction and mine development cash expenditure estimate of $1,540 million. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold's control, including risks associated with or related to: the volatility of metal prices and B2Gold's common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of mineral reserve and resource estimates; not achieving production, cost, economic returns or other estimates; actual production, development plans and costs differing materially from the estimates in B2Gold's feasibility and other studies; the ability to obtain and maintain any necessary licences, permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; operational risks and hazards; the ability to replace mineral reserves and identify acquisition opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisitions; fluctuations in exchange rates; market fluctuations; the availability of financing; financing and debt activities, including potential restrictions imposed on B2Gold's operations as a result thereof and the ability to generate sufficient cash flows; generate sufficient cash to service debt; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; failing to maintain satisfactory labour relations; regulatory, political, economic and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for B2Gold's operations, including risks related to strikes and the halting of such operations from time to time; risks related to community relations and community action, including Indigenous and local community title claims and rights to consultation and accommodation; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; compliance with anti-corruption laws, and sanctions or other similar measures; social media and B2Gold's reputation; global geopolitical risks; impairment charges or reversals; supply chain disruption; cybersecurity failure; as well as other factors identified and as described in more detail under the heading "Risk Factors" in B2Gold's most recent Annual Information Form, B2Gold's current Form 40-F Annual Report and B2Gold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which may be viewed at www.sedarplus.ca and www.sec.gov, respectively (the "Websites"). The list is not exhaustive of the factors that may affect B2Gold's forward-looking statements.
B2Gold's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to B2Gold's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; forecasting long term gold price for planning purposes; and other assumptions and factors generally associated with the mining industry.
B2Gold's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
Historical results or feasibility models presented herein are not guarantees or expectations of future performance. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be upgraded to proven and probable mineral reserves. Investors are cautioned not to assume that any part of mineral deposits in these categories will ever be converted into reserves or recovered.
Non-IFRS Measures
This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including "cash operating costs" and "all-in sustaining costs" (or "AISC"). Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The projected range of AISC is anticipated to be adjusted to include sustaining capital expenditures, corporate administrative expense, mine-site exploration and evaluation costs and reclamation cost accretion and amortization, and exclude the effects of expansionary capital and non-sustaining expenditures. Projected GAAP total production cash costs for the full year would require inclusion of the projected impact of future included and excluded items, including items that are not currently determinable, but may be significant, such as sustaining capital expenditures, reclamation cost accretion and amortization. Due to the uncertainty of the likelihood, amount and timing of any such items, B2Gold does not have information available to provide a quantitative reconciliation of projected AISC to a total production cash costs projection. B2Gold believes that this measure represents the total costs of producing gold from current operations, and provides B2Gold and other stakeholders of the Company with additional information of B2Gold's operational performance and ability to generate cash flows. AISC, as a key performance measure, allows B2Gold to assess its ability to support capital expenditures and to sustain future production from the generation of operating cash flows. This information provides management with the ability to more actively manage capital programs and to make more prudent capital investment decisions.
The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with B2Gold's consolidated financial statements. Readers should refer to B2Gold's Management Discussion and Analysis, available on the Websites, under the heading "Non-IFRS Measures" for a more detailed discussion of how B2Gold calculates certain such measures and a reconciliation of certain measures to IFRS terms.
Cautionary Statement Regarding Mineral Reserve and Resource Estimates
The disclosure in this news release uses Mineral Reserve and Mineral Resource classification terms that comply with reporting standards in Canada and the Mineral Reserve and Mineral Resource estimates are made in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council – Definition Standards for Mineral Resources & Mineral Reserves adopted by CIM Council on May 19, 2014 (the "CIM Standards"), which were adopted by the Canadian Securities Administrators' (the "CSA") National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the CSA that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
For United States reporting purposes, the SEC has adopted amendments to its disclosure rules (the "SEC Modernization Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934 (the "Exchange Act"). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system with the U.S., B2Gold is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and the Company provides disclosure under NI 43-101 and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information contained in this news release may not be comparable to similar information disclosed by United States companies.
As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding CIM Definition Standards that are required under NI 43-101. While the above terms are "substantially similar" to CIM Definition Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance that any mineral reserves or mineral resources that we may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had we prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules. Further, estimates of inferred mineral resources have significant geological uncertainty and it should not be assumed that all or any part of an inferred mineral resource will be converted to the measured or indicated categories. Mineral resources that are not mineral reserves do not meet the threshold for reserve modifying factors, such as estimated economic viability, that would allow for conversion to mineral reserves.
For more information on B2Gold please visit the Company website at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371 investor@b2gold.com
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Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that it has closed its non-brokered financing previously announced on March 10, 2025. The Company issued 8,823,529 charity flow-through shares (the "Charity FT Shares") at a price of $0.28 per Charity FT Share and 2,941,176 common share units (the "Share Units") at a price of $0.17 per Share Unit for aggregate gross proceeds to the Company of approximately $3 million (the "Offering"). McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) participated in the Offering as a strategic investor. McEwen Mining now owns 5.9% of Canadian Gold's outstanding shares and 7.3% on a partially diluted basis. Rob McEwen, McEwen Mining's Chairman and Chief Owner owns 32% of Canadian Gold's outstanding shares.
Each Share Unit consisted of one non-flow-through common share of the Company (the "Common Shares") and one whole common share purchase warrant (the "Share Warrant") that will entitle McEwen Mining to acquire one Common Share of the Company for an exercise price of $0.22 per Common Share until March 27, 2026. The Common Shares, Share Warrants, Charity FT Shares and all securities issuable thereunder will be subject to a hold period until July 28, 2025 in accordance with applicable securities legislation. No finder's fees were paid in connection with the Offering.
The Company will use the gross proceeds from the issue and sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada) ("Tax Act"), to incur, on or before December 31, 2026, eligible "Canadian exploration expenses" within the meaning of the Tax Act that qualify as (i) "flow-through mining expenditures" as defined in subsection 127(9) of the Tax Act; and (ii) "flow-through mining expenditures" as defined in subsection 11.7(1) of The Income Tax Act (Manitoba), once renounced to a subscriber who is either a resident in Manitoba or otherwise liable to pay tax under The Income Tax Act (Manitoba) (the "Qualifying Expenditures"). All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2025.
The Company intends to use the aggregate proceeds from the Offering to:
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state security laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 32% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
NOT FOR DISTRIBUTION TO U.S. 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/246393
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HIGHLIGHTS
Drilling Update
The RC drill program at Wagyu is progressing on schedule, with the first six planned holes completed at Target 6. The RC rig has performed well, reaching target depth in all holes to date. The drill rig is now being mobilised to Target 10, another high-priority area where NAE aims to confirm further gold mineralisation extensions. These drilling efforts are a continuation of NAE’s systematic exploration strategy following promising results from previous Air Core (AC) drilling.
Share Placement
The Company is pleased to announce it has raised $360K through a placement on the same terms as the previous capital raise. This funding will underpin the continued expansion of drilling activities at Wagyu and support additional exploration work aimed at unlocking the project’s full potential.
NAE Executive Director Joshua Wellisch commented:
"We are pleased with the steady progress of our Wagyu drill program, which we are looking to continue delivering encouraging results. The strong support from investors in our latest placement reinforces confidence in the project's potential and allows us to accelerate our exploration efforts further. With drilling advancing at Target 10, we remain committed to systematically testing our highest-priority targets."
Figure 1: Location Map showing NAE’s Wagyu Gold Project (E47/2974) in the Gold Mineralisation Corridor shared with De Grey’s significant gold Mineral Resources, including Hemi, Mt Berghaus and Calvert.
The Hemi Gold Mineral Resource was last updated by De Grey Mining on 14 November 20241. The estimate is for 264Mt @ 1.3g/t Au for 11.2Moz, which can be broken down into 13Mt @ 1.4g/t for 0.6Moz, 149Mt @ 1.3g/t Au Indicated for 6.3 Moz, and 103Mt @ 1.3g/t Au for 4.3 Moz Inferred. 14 November 2024 – ASX:DEG Hemi Gold Project Mineral Resource Estimate (MRE) 2024
NAE confirms that it is not aware of any new information or data that materially affects the information included in De Grey’s reported Mineral Resources referenced in this market announcement. To NAE’s full knowledge, all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
Figure 2: Drill rig at Wagyu Gold Project, Pilbara, WA (March 2025)
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This article includes content from New Age Exploration Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/
Yukon Metals Corp. (CSE: YMC, FSE: E770, OTC: YMMCF) (" Yukon Metals " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and Canaccord Genuity Corp. (the " Co-Agents ") to act as co-agents in connection with a "best efforts" private placement for aggregate gross proceeds of up to approximately C$5 million (the " Offering ").
The Offering will consist of the issuance and sale of up to 9,090,909 units of the Company (the " Units ") at a price of C$0.55 per Unit (the " Issue Price "). Each Unit will consist of one common share of the Company (each, a " Unit Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a " Warrant Share ") at a price of C$0.80 at any time before 5:00 p.m. (Toronto time) on the date that is 36 months following the Closing Date (as defined below).
The Company has granted the Co-Agents an option, exercisable in whole or in part, at any time prior to 48 hours before the Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$3,000,000.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Units will be offered for sale to purchasers resident in Canada, except Québec, or other qualifying jurisdictions pursuant to one or more of the following exemptions from the prospectus requirement under National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "): (i) the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "); and (ii) other available exemptions under NI 45-106. To the extent that any Units exceed the maximum value of securities permitted to be sold pursuant to the Listed Issuer Financing Exemption, such Units shall be offered and sold by way of a concurrent private placement in reliance on other available exemptions from the prospectus requirements under applicable securities laws. The Co-Agents will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933 , as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to acquire securities in any jurisdiction.
There is an offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at www.sedarplus.ca and the Company's website at https://yukonmetals.com/. Purchasers of Units issued under the Listed Issuer Financing Exemption will have the benefit of the offering document and the rights provided under the Listed Issuer Financing Exemption. Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this offering document before making an investment decision.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
The Offering is expected to close on or about April 9, 2025, or on such other date as may be agreed to by the Company and the Co-Agents, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day following the date of this news release.
The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the Canadian Securities Exchange.
ABOUT Yukon Metals CORP.
Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical and finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing stakeholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures.
THE YUKON
The Yukon ranks 10th most prospective for mineral potential across global jurisdictions according to the Fraser Institute's 2023 Survey of Mining Companies and is host to a highly experienced and conscientious local workforce, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold's Rogue Project – Valley Discovery, demonstrate the Yukon's potential to generate fresh district-scale mining opportunities.
"ON BEHALF OF THE BOARD OF Yukon Metals CORP."
"Rory Quinn"
Rory Quinn
President & CEO
Email: roryquinn@yukonmetals.com
Phone: 604-366-4408
For additional information, please contact:
Kaeli Gattens
Vice President, Investor Relations & Communications
Yukon Metals Corp.
Email: kaeligattens@yukonmetals.com
Website: www.yukonmetals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the receipt of regulatory approvals and future results of operations, performance and achievements of the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties with respect to obtaining all regulatory approvals to complete the Offering, uncertainties of the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the Yukon having the potential to generate fresh district-scale mining opportunities and other risks identified in its disclosure documents filed at www.sedarplus.ca. This news release is not, and is not to be construed in any way as, an offer or recommendation to buy or sell securities in Canada or in the United States.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise any forward-looking statements to reflect new events or circumstances, except in accordance with and as required by applicable securities laws.
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