With a proven management team and a high-impact flagship asset, Asara Resources is spearheading a new era of gold discovery in West Africa, leveraging the same team that established Robex’s 3.5 Moz Kiniero project. The company holds 923,000 oz of gold in mineral resources with significant upside, delivering a compelling investment opportunity for savvy investors.
Asara Resources (ASX:AS1,FSE:ALM) is spearheading the next West African gold rush from a strategic foothold in Guinea’s underexplored Siguiri Basin, an emerging gold district with over 30 million ounces (Moz) of historical and current gold production.
The company’s flagship Kada gold project hosts a 923,000 oz, oxide-dominant gold resource located just 35 km south of AngloGold Ashanti’s 6.2 Moz Siguiri mine. Asara is methodically applying the proven “string-of-pits” development model that has driven success across the region, supported by an experienced team responsible for establishing the Kiniero project, now a cornerstone asset for Robex (TSX:RBX). Guinea offers a favorable jurisdiction for mining investment, with more than US$15 billion in resource-sector inflows since 2020 and a planned return to civilian governance, positioning it as one of the more stable West African jurisdictions relative to its neighbours in the Sahel region.
Asara’s near-term strategy includes: rapidly growing its resource base through 33,600 meters of RC and diamond drilling planned for 2025; advancing a low-CAPEX, oxide-first development strategy leveraging free-dig saprolite, high gold recoveries and conventional carbon-in-leach (CIL) flowsheet; and maintaining upside exposure to copper and silver-zinc through its Loreto JV with Teck and the optional Paguanta asset in Chile.
With strong in-country infrastructure, a focused and proven leadership team, and robust gold pricing tailwinds, Asara is advancing the Kada project toward a construction-ready decision on a compressed and capital-efficient timeline.
The Kada gold project, located in the heart of Guinea’s prolific Siguiri Basin, is Asara’s flagship asset and the primary focus of its development strategy. The project currently hosts a JORC 2012-compliant mineral resource estimate of 30.3 million tons (Mt) grading at 0.95 grams per ton (g/t) gold for 923,000 oz of contained gold, comprising 391,000 oz oxide, 145,000 oz transitional, and 387,000 oz fresh mineralization. Approximately 59 percent of the resource lies within the oxide-transitional profile, with 24 percent of the total resource already classified as indicated.
The resource is hosted within the Massan and Bereko deposits, both of which remain open along strike and at depth and sit along a regional-scale 15 km gold-bearing corridor. The Massan deposit alone accounts for 906,000 oz of the total resource and is characterized by shallow, broad zones of saprolitic mineralization ideal for low-strip, open-pit mining. Gold mineralization is associated with quartz-sulphide-tourmaline stockworks hosted in metasediments with deep saprolite (>100 m) and is amenable to simple processing.
The mineralized zones are free-milling, with metallurgical testwork confirming cyanide leach recoveries of 95 to 97 percent for oxide and 88 percent for transition/fresh ore. Conventional CIL processing is suitable, with rapid leach kinetics (less than 24 hours for oxide) and no need for gravity recovery or oxygen injection. The ore has medium hardness, with a grind size optimized at 80 percent passing 75 microns. Geotechnically, the project exhibits a low strip ratio (<3.5:1), and the saprolite is potentially free digging, minimizing mining costs.
The project is within 60 km of the mining centre of Siguiri and benefits from existing infrastructure, including paved roads and ready access to water. Asara plans to carry out 33,600 metres of drilling in 2025, including 24,000 m RC and 9,600 m diamond drilling, to upgrade confidence in the core of the resource and test extensions at depth and along strike. These campaigns will target mineralization north, south and west of Massan. Auger drilling will be used to define and explore kilometre-scale gold-in-soil anomalies on the Talico, Banan and Syli license application. If granted, these licenses will expand Asara’s landholding to 348 sq km and provide a 35 km contiguous footprint along the Siguiri gold trend, where artisanal workings have already been mapped along key lithologic contacts.
The Bereko deposit, situated 10 km north of Massan, currently hosts an inferred resource of 18,000 oz gold grading at 0.94 g/t from shallow oxide, transitional and fresh material.
Importantly, this MRE only covers 400 metres of a >5.5 km strike length with confirmed bedrock gold anomalies. Historical drilling at Bereko includes notable intercepts such as 1.2 g/t gold over 27 m, 3.3 g/t gold over 9.3 m, and 8.8 g/t gold over 3.3 m. Mineralization remains open in all directions, providing significant upside potential with further drilling.
Asara envisions a low-CAPEX, staged development, anchored by starter pits at Massan and Bereko, followed by centralized processing infrastructure capable of supporting future satellite deposits. This approach mirrors the multi-pit strategy successfully deployed at Kiniero and Siguiri.
The 100 percent owned Loreto project is a large-scale porphyry copper exploration project in northern Chile, located between tenements held by mining majors BHP and Codelco. Under a joint venture with Teck Resources, Teck can earn a 75 percent interest in the project by making US$0.6 million in staged payments and spending US$17 million on exploration. The project hosts a 2.3 km x 1.0 km alteration footprint with evidence of a deeper porphyry system, supported by mapping, geochemistry and ZTEM geophysics. Teck is currently advancing social license and environmental studies to enable drilling. Asara is fully carried under the JV structure and maintains strategic exposure to a world-class copper opportunity with no capital obligations.
Asara holds a 75 percent interest in the Paguanta project in Chile. The asset is an advanced silver-zinc-lead-gold project with a defined JORC 2012 mineral resource totaling 2.4 Mt grading at 5 percent zinc, 1.4 percent lead, 88 g/t silver, and 0.3 g/t gold. The Patricia deposit contains a silver-equivalent resource of 18.2 Moz (236 g/t silver equivalent) and a zinc-equivalent resource of 514 Mlb (9.7 percent zinc equivalent). Mineralization is hosted within epithermal veins with potential for porphyry copper at depth, including the newly identified La Rosa porphyry target. More than 46,700 metres of drilling has been completed at the site, and a partial feasibility study was previously conducted by Golder Associates. Asara is actively evaluating strategic options to realize value from this asset.
Formerly with Robex, Matthew Sharples was instrumental in growing Kiniero into a multi-million-ounce project. He brings deep expertise in capital markets, stakeholder engagement, and West African permitting.
Tim Strong is a seasoned exploration geologist and JORC Competent Person with significant experience across West Africa. Strong leads Asara’s technical strategy and resource development.
Brett Montgomery is a respected corporate leader with a history of guiding early-stage exploration companies through critical growth phases.
A geologist with decades of African exploration experience, Dr. Doug Jones provides technical oversight and strategic direction.
A key architect behind the Kiniero development strategy, Dan Tucker contributes deeply to geological targeting and land consolidation strategy.
Advancing the next West African gold camp from the heart of Guinea’s prolific Siguiri Basin
Following completion of the Placement, Mr. Timothy Strong has stepped down as Managing Director and Mr. Matthew Sharples has been appointed Chief Executive Officer. Mr. Strong will remain on the Board as Executive Director – Corporate Strategy & Affairs.
Executive Director, Tim Strong commented:
‘’We are pleased that Barbet have continued to show their commitment to the Company and its flagship Kada project by participating in a further Placement. This Placement will allow the Company to fastrack its exploration efforts.
I am also delighted to welcome Matt Sharples to the management team. Matt, who joined the Company as a consultant in October 2024, has been instrumental in recommencing operations at Kada. Matt provides a wealth of knowledge, and an undeniable passion for Guinea and I look forward to supporting him as we move the Kada project through the value chain towards a feasibility study. Both Matt and I are confident of the resource potential of Massan and the surrounding areas which will be drill tested in the coming months.’’
Placement Details
The Placement is comprised of the issue of 104,517,541 fully paid ordinary shares (Placement Shares) at an issue price of $0.022 raising $2,299,385.90 (before costs). per share. Following the Placement, Barbet holds 19.89% of the Company.
The proceeds of the Placement will be applied towards an upcoming drill program and exploration activities at Kada and general working capital. The Placement Shares will be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1, and accordingly no shareholder approval is required. The Placement Shares will rank pari passu with existing securities on issue.
Executive Changes
Chief Executive Officer
Matthew has been appointed Chief Executive Officer, effective 14 February 2025. Matthew Sharples is a mining professional with over 20 years of experience in mine development, investment consulting and M&A. Matt specialises in the geological evaluation and development of gold projects, with a particular focus on project development from the initial stage to production.
Matt was Co-Founder and CEO of the private mining fund Sycamore Mining. Under his stewardship, the group's flagship asset, the Kiniero Mine (Guinea), grew from a total resource base of 1.5Moz Au to 3.5Moz Au (JORC) and was sold to Robex Resources in 2022 for a project valuation of US$160m. Matt has worked worldwide in the mining and resources industry, in the UK, Africa, Asia and Australia, with Robex, Sycamore, Wood Mackenzie, Xstrata and BHP Billiton.
Matt holds an MSc in Basin Evolution and Dynamics, Royal Holloway, University of London, United Kingdom, and a BSc in Geology, University of Durham, United Kingdom. Matt is a director and shareholder of substantial shareholder, Barbet L.L.C FZ.
The material terms of Matthew Sharple’s employment agreement are as follows:
Click here for the full ASX Release
This article includes content from Asara Resources 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.
(TheNewswire)
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Vancouver, British Columbia TheNewswire - September 29, 2025 - Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (FSE: 7YS0) (OTC: ELMGF) (the "Company" or "Element79") announces its attendance at the Munich Rohstoffmesse (Raw Materials Conference), taking place at the Munich Small Olympic Hall from October 3rd-4th, 2025.
The confirmed investment audience – more than 1,500 participants are expected – includes private investors, fund and asset managers, family offices, and institutional investors from across Europe.
Registration for the Munich Commodity Fair is free for investors; tickets can be requested online at https://www.rohstoffmesse-muenchen.de/ . The conference will bring together more than 100 companies and renowned speakers from the European market, including Dirk Müller, Jochen Staiger, Florian Grummes, and Professor Dr. Torsten Dennin.
Element79 Gold Corp CEO Michael Smith discussed: "We have had a presence in the European market for several years, and we see active trading on both our FSE ticker, 7YS0, as well as a significant amount of daily trading volumes on our CSE ticker, ELEM, come from Alternate Trading Systems, which reflect trading on international exchanges. I'm excited to share the evolving story at Element79 Gold Corp with the European community and this is a great venue for us to do that!"
About Element79 Gold Corp.
Element79 Gold Corp is a mining company focused on the exploration and development of its portfolio of high-potential gold projects. The Company's main focus is its Nevada portfolio, anchored by the Gold Mountain and Elephant Projects, both located in the world-class Battle Mountain Trend. In addition, Element79 continues to advance its high-grade Lucero Project in southern Peru, positioning the Company for long-term exploration growth.
For more information about the Company, please visit www.element79.gold or contact:
For corporate matters and investor relations inquiries, please contact:
Mike Smith, Chief Executive Officer
E-mail: investors@element79.gold
Phone: +1.855.5ELEM79 (535-3679)
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" under applicable securities laws. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially. Investors are cautioned not to place undue reliance on forward-looking statements. Neither the Canadian Securities Exchange nor the Market Regulator accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF): Stonegate Capital Partners initiates their coverage on Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF). The Company's flagship Ana Paula project in Guerrero is a high-grade underground development asset hosting approximately 1.2 million ounces grading 5.4 gt gold in the High-Grade Panel. Active drilling is extending the Parallel Panel and upgrading inferred ounces. A preliminary economic assessment is underway and will be followed by a feasibility study in mid-2026, with first production targeted in 2028. Ana Paula is fully permitted for open-pit mining, and the Company intends to submit an underground permit amendment in 2026. This expansion is expected to be primarily self-funded from the below mentioned producing assets.
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268117
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Vancouver, British Columbia / September 26, 2025 ‑ TheNewswire - Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") i s pleased to report on the progress of its ongoing drill program at Mosseau, its flagship property in the Urban Barry Belt in Quebec's Abitibi region.
Rick Mark, CEO of Harvest Gold, commented: "The confirmation that the Kiask River Corridor extends southeast into the LaBelle property is an important step forward in our regional exploration model. Combined with the progress of our ongoing drill program, we are steadily advancing our understanding of the gold potential at Mosseau and LaBelle. We look forward to receiving our first batch of assay results next month and continuing to unlock the value of this highly prospective land package."
DRILLING UPDATE
To date, 11 drill holes have been completed for a total of 2,191 metres. The completed holes targeted the northern portion of the property, where historical prospecting and diamond drilling work suggested strong potential and continuity of the gold mineralization (See Figure 1). Samples are sent to the lab as the logging of each hole is completed and assay results from the initial holes are expected over the next few weeks.
Drilling is now transitioning toward the central part of the property, where additional priority targets have been identified based on recent prospecting, geophysics and soil sampling.
AIRBORNE MAGNETIC SURVEY
We have now received the results of the successful high-resolution magnetic survey covering the southeastern part of the Mosseau and the adjoining LaBelle properties.
The survey results have identified and confirmed the extension of the magnetic domain hosting the Kiask River Corridor to the southeast, extending into the LaBelle property. The Kiask River Corridor can now be traced for 31 km in a northwest – southeast direction, with a width up to 2.3 km. This represents a significant development in the Company's understanding of the structural and lithological controls on gold mineralization in the area, providing additional high-priority exploration targets for follow-up. (See Figure 2)
Looking ahead, the Company is planning a fall exploration program, which will include soil sampling and prospecting across parts of the Mosseau and LaBelle properties. These activities are designed to build on the recent magnetic survey results and further refine drill targets for future exploration campaigns.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha , located approximately 45-70 km west of Gold Fields Limited's - Windfall Deposit (Figure 3).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold's three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
Click Image To View Full Size
Figure 1: Progress of drill holes completed – Northern Target Area
Click Image To View Full Size
Figure 2: Magnetic Domain extending across the southeastern portion of Mosseau and LaBelle
Click Image To View Full Size
Figure 3: Project Location: Urban-Barry Greenstone Belt
Sampling, QAQC, and Laboratory Analysis Summary
All core logging and sampling completed by Harvest Gold as part of its diamond drilling program is subject to a strict standard for Quality Control and Quality Assurance (QAQC), which includes the insertion of certified reference materials (standards), blank materials, and field duplicate analysis. NQ-diameter sawed half-core samples from the drilling program at Swanson were securely sent by Company geologists to AGAT Laboratories Ltd. (AGAT), with sample preparation in Val-d'Or, Québec and analysis in Thunder Bay, Ontario, where samples were processed for gold analysis by 50-gram fire assay with an atomic absorption finish. Samples from selected holes were securely sent to AGAT in Calgary, Alberta, for multi-element analysis (including silver) by inductively coupled plasma (ICP) method with a four-acid digestion. AGAT sample preparation and laboratory analysis procedures conform to requirements of ISO/IEC Standard 17025 guidelines and meet the requirements under NI 43-101 and CIM best practice guidelines. AGAT is independent of LaFleur Minerals.
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
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 results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that summer drilling has commenced at its Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan near Uranium City . A limited suite of high priority targets has been selected for testing.
Exploration work at Murmac is being funded by Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero"), and is being operated by Fortune Bay, under an Option Agreement that was executed on December 15, 2023 .
Gareth Garlick , VP Technical Services of Fortune Bay, commented, " This drilling program represents an excellent opportunity to test high-priority uranium targets with strong geophysical signatures in a proven district. The current drill program has been carefully designed to evaluate structural and conductive settings that have historically delivered uranium mineralization in the Athabasca Basin margin. By capitalizing on shared mobilization and operational efficiencies, we are able to advance exploration in a technically rigorous and cost-effective manner." Dale Verran , CEO of Fortune Bay, added, "Our partner-funded exploration at Murmac demonstrates how we can unlock value from our uranium portfolio on a non-dilutive basis for shareholders. This strategy allows us to preserve capital and maintain focus on advancing our 100%-owned gold assets, while retaining significant exposure to upside from uranium discoveries."
Drill Targets
Target selection has been based on airborne electromagnetic and ground gravity survey results, targeting features along buried basement-hosted conductive graphitic units at their intersection with known mineralized cross faults identified during historical and current prospecting activities, including spectrometer surveying and geochemical sampling. Drilling will focus on the northern end of the Armbruster Conductor, which the Company has not yet drill tested. This program has been planned at short notice to benefit from significant cost savings related to the presence of another exploration group in Uranium City carrying out a separate drill program using the same drill contractor. Shared mobilization and operational costs are allowing the Company to cost effectively test three selected high priority targets (Figure 1) in the summer window.
Technical Disclosure
Further details regarding the historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) and the Saskatchewan Mineral Deposit Index (SMDI). Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. Historical drill hole locations, captured from georeferenced assessment report maps, are subject to uncertainty (considered accurate to +/-50 meters. The Company considers these unverified historical results relevant to assess the mineralization and economic potential of the property. The historical information referenced derives from SMAD references 74N07-0011, 74N07-0173 and 74N07-0277.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick , P.Geo., Technical Director of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve—prior to the capital-intensive build phase. Its portfolio includes the development-ready Goldfields Project in Saskatchewan , the resource-expansion Poma Rosa Project in Mexico , and an optioned uranium portfolio in the Athabasca Basin providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com .
On behalf of Fortune Bay Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.
Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fortune Bay Corp.
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www.radissonmining.com
TSX-V: RDS, OTCQX: RMRDF, FRANKFURT : 2RX
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Radisson Mining Resources Inc. (TSXV: RDS,OTC:RMRDF) (OTCQX: RMRDF) (" Radisson " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the " Underwriters ") in connection with a "bought deal" private placement of 33,333,500 Class A common shares of the Company (each, an " Offered Share ") at a price of $0.60 per Offered Share, for gross proceeds of $20,000,100 (the " Offering ").
In addition, the Company will grant the Underwriters an option (the " Option ") to increase the size of the Offering by up to an additional $3,000,015 , on the same terms and conditions as the Offering, by giving written notice of the exercise of the Option, or a part thereof, to the Company at any time up to 48 hours prior to Closing Date (as defined below).
The Company will use the net proceeds from the Offered Shares for ongoing exploration and advancement of the O'Brien gold project and for general corporate purposes.
The Offering is expected to close on or about October 7, 2025 (the " Closing Date "), or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Offered Shares will be offered for sale to purchasers resident in all provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the " Listed Issuer Financing Exemption "). The Underwriters will also be entitled to offer the Offered Shares for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), and in those 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 Offered Shares acquired under the Offering by investors resident in Canada under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.radissonmining.com . Prospective investors should read this offering document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States . The securities described herein have not been and will not be registered under the U.S. Securities Act, or any of the securities laws of any state of the United States , and are not being offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States .
Qualified Persons
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen , P.Geo, (QC), a geological consultant for the Company and a Qualified Person for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects . Mr. Nieminen is independent of the Company and the O'Brien Gold Project.
About Radisson Mining
Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 Preliminary Economic Assessment described a low cost and high value project with an 11-year mine life and significant upside potential based on the use of existing regional infrastructure. Indicated Mineral Resources are estimated at 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au), with additional Inferred Mineral Resources estimated at 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Please see the NI 43-101 "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada " effective June 27, 2025 , and other filings made with Canadian securities regulatory authorities available at www.sedarplus.ca for further details and assumptions relating to the O'Brien Gold Project.
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities legislation (collectively, " forward-looking information "), including, but not limited to, statements relating to the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering, the completion of the Offering and the date of such completion and the conditional approval of the TSX Venture Exchange. Often, but not always, forward-looking information can be identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information reflects the Company's beliefs and assumptions based on information available at the time such statements were made. Actual results or events may differ from those predicted in forward-looking information. All of the Company's forward-looking information is qualified by the assumptions that are stated or inherent in such forward-looking information, including the assumptions listed below.
Although the Company believes that the assumptions underlying the forward-looking information contained in this news release are reasonable, this list is not exhaustive of the factors that may affect any forward-looking information. The key assumptions that have been made in connection with forward-looking information include the following: the significance of drill results and ongoing exploration activities; management's beliefs on resource expansion; the predictability of geological modelling; the accuracy of the Company's records of its property interests; the global economic climate; commodities prices; inflation; environmental risks; climate change; cybersecurity threats; community and non-governmental actions; that required permits will be obtained on a timely basis in order to permit the Company to proceed on schedule with its planned drilling programs; that skilled personnel and contractors will be available as the Company's operations continue to grow; the relevance of the assumptions, estimates and projections; the impact of international conflict, or the escalation thereof, on the markets, generally, and on the business and prospects of the Company; and that the Company will be able to continue raising the necessary capital to finance its operations and realize on its mineral resource estimates.
Forward-looking information involves known and unknown risks, future events, conditions, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; regulatory approval for the Offering; completion of the Offering; public health crises; costs of exploration; the actual results of current exploration activities; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; errors in geological modelling; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; exploration results not being consistent with the Company's expectations; the supply and demand for, deliveries of, and the future prices of commodities; accidents, labour disputes and other risks of the mining industry; the availability of qualified employees and contractors; political instability; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; delays in obtaining governmental approvals or financing; and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers should consider reviewing the detailed risk discussion in the Company's disclosure documents filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations. Forward-looking information contained herein is given as of the date of this news release and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events, or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information 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 information.
SOURCE Radisson Mining Resources Inc.
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