Targeting high-demand copper-gold projects, Metal Bank (ASX:MBK) offers a compelling investment opportunity by exploring assets in Australia, Saudi Arabia and Jordan. The company focuses on optimizing and divesting the Livingstone gold project to generate capital for expanding its copper projects in the Middle East. Metal Bank's strong regional presence, particularly in Saudi Arabia and Jordan, is underpinned by deep industry relationships and extensive operating experience.
The company is securing copper and other critical minerals projects in Saudi Arabia, through its joint venture company, Consolidated Mining Company (CMC). CMC is 60 percent owned by MBK and 40 percent by Central Mining Holding Company. Its first project, Wadi Al Junah, has been awarded exploration licences in November 2024.
Wadi Al Junah is a joint venture through Consolidated Mining Company (CMC, MBK 60 percent). Exploration activities include regional geochemical surveys, surface mapping, and shear-zone anomaly identification. Phase 1 drilling is planned for Q2 2025.
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Metal Bank Limited (MBK) offers a compelling investment opportunity driven by its copper-focused growth strategy, targeting high-demand projects across the Middle Eastern region.
Metal Bank (ASX:MBK) is a growth-focused explorer engaged in copper and gold exploration and development across Australia, Saudi Arabia and Jordan.
The company’s near-term focus is on optimizing and divesting the Livingstone gold project to generate capital for expanding its copper projects in the Middle East. Metal Bank's strong regional presence, particularly in Saudi Arabia and Jordan, is underpinned by deep industry relationships and extensive operating experience.
In the near term, MBK is executing its Middle East and North African (MENA) strategy focused on Saudi Arabia and Jordan. The strategy includes securing copper and other critical minerals projects in Saudi Arabia, through its joint venture company, Consolidated Mining Company (CMC). CMC is 60 percent owned by MBK and 40 percent by Central Mining Holding Company. Its first project, Wadi Al Junah, has been awarded exploration licences in November 2024. MBK has also identified several new areas of interest and exploration licence applications have already been submitted. MBK is also in discussions with third parties holding exploration licences for potential cooperation/joint ventures.
In Jordan, key agreements have been secured for copper exploration within historic mining areas. The three copper project areas granted in Jordan are Malaqa, Area 47 and Area 65. Two of these projects are in areas with historic mining activities, while the third is highly prospective for large-scale copper under cover.
The leadership team brings a proven track record of exploration success and project execution, positioning the company for long-term value creation in the critical minerals market.
Multiple prospects at Livingstone gold project
The Livingstone gold project is an advanced gold exploration project located 140 km northwest of Meekatharra in Western Australia. The project spans 395 sq km within the Bryah-Padbury Basin. The project hosts a JORC 2012 resource of 40,300 oz gold (Homestead) and 30,500 oz gold (Kingsley). Exploration efforts include geophysical mapping, RC drilling, and over 40 km of strike target assessments. The company is updating resource models and conducting pit optimization. Strong corporate interest has led to discussions to expedite divestment, with proceeds to fund MENA operations.
The project has multiple advanced gold targets, inadequately tested to date, including Hilltop, Stanley, Winja, Winja West, VHF and Kirba, Additionally, independent experts have identified more than 10 regional greenfields targets with 40km prospective strike length.
A 427 sq km VMS copper-zinc-gold-silver project, Wadi Al Junah is a joint venture through Consolidated Mining Company (CMC, MBK 60 percent). Exploration activities include regional geochemical surveys, surface mapping, and shear-zone anomaly identification. Phase 1 drilling is planned for Q2 2025.
The Wadi Al Junah project is 35 km east of the Al Hajar gold-silver (copper-zinc) deposit that was previously mined by Saudi’s state-owned mining company, Ma’aden, and is close to the major regional centre and airport of Bisha. The project has received very limited rock chip sampling as part of regional scale mapping work in the 1960s and 1970s. with results of up to 1.53 percent copper, 0.44 grams per ton (g/t) gold and 160 g/t silver. MBK aims to define drill targets in preparation for initial drill programs.
Metal Bank is leveraging its extensive history in Saudi Arabia, and pursuing additional tenement applications and joint venture partnerships. The country has enacted a new mining code in 2021, establishing mining-friendly regulations and a system of refunding exploration expenditure for approved projects.
This three-project portfolio is aimed at large-scale copper exploration. The Malaqa project has shown copper mineralization over an 800-meter strike through chip and channel sampling. Area 47 features a 4 sq km geochemical anomaly indicative of porphyry-style mineralization, while Area 65 is a bulk-tonnage copper-oxide target. Metal Bank is planning a drilling campaign during 2025 and also assessing local joint venture opportunities to progress these three projects.
Rock sample from the Millennium project
This cobalt-copper-gold project holds a JORC 2012 Inferred Resource of 8.4 Mt at 0.09 percent cobalt, 0.29 percent copper, and 0.12 g/t gold. Recent reanalysis of historic cores revealed high-grade graphite intersections (e.g. 56 m at 18.29 percent graphite). Located on granted mining leases, the project offers polymetallic potential. Metal Bank is planning further metallurgical testing and drilling to expand both the copper and graphite resource base.
Inés Scotland has over 20 years of experience in the mining industry, having worked with major gold and copper companies across Australia, Papua New Guinea, the USA, and the Middle East. Her career includes roles with Rio Tinto companies such as Comalco, Lihir, and Kennecott Utah Copper. Notably, she was the managing director and CEO of Citadel Resource Group Limited, where she led the development of the Jabal Sayid Copper Project in Saudi Arabia. Under her leadership, Citadel grew to a market capitalization of $1.3 billion before its acquisition by Equinox Minerals in January 2011. She also served as the managing director and CEO of Ivanhoe Australia, an ASX-listed company with a market capitalization of $500 million. Scotland was appointed as chair of Metal Bank Limited on August 13, 2013.
Guy Robertson brings over 30 years of experience as a chief financial officer, company secretary, and director for both public and private companies in Australia and Hong Kong. His previous roles include serving as chief financial officer and general manager of finance for organizations such as Jardine Lloyd Thompson, Colliers International, and Franklins. He has over a decade of experience with ASX-listed mineral exploration companies and currently holds directorships with Hastings Technology Metals, GreenTech Metals, Artemis Resources, and Alien Metals. Robertson was appointed as an executive director of Metal Bank on September 17, 2012.
Sue-Ann Higgins is an experienced company executive with over 25 years in the mining industry. She has held senior legal and commercial roles with companies including ARCO Coal Australia, WMC Resources, Oxiana, and Citadel Resource Group. Her expertise encompasses governance and compliance, mergers and acquisitions, equity capital markets, and mineral exploration, development, and operations. Higgins was appointed as company secretary on August 21, 2013, and became an executive director on February 24, 2020.
Copper and gold-focused exploration in Australia and the Middle East
(TheNewswire)
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March 24, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce the addition of Peter Bojtos, P.Eng to its recently formed Mining Committee that is tasked with successfully guiding the Company's transition from an exploration-focused company to a near-term gold and silver producer at its 100%-owned Dome Mountain Gold Project in British Columbia.
Mr. Bojtos is a Professional Engineer with over 50 years of worldwide experience in the mining industry.
Over his career he has visited and evaluated properties in nearly 80 countries and has been involved with operations in 30 of them. He has carried out more than 15 significant corporate acquisitions, mergers or sales that involved 24 operating mines and he was the regional exploration manager at Kerr Addison at the time of the staking and subsequent discovery of what eventually became Inmet's Troilus gold-copper mine in Quebec. Mr. Bojtos has participated in the financing, development, building or reopening of
19 mines and has had a hand in the operation of 24 producing mines.
Mr. Bojtos graduated from the University of Leicester, England in 1972, following which he worked at open-pit iron-ore and underground base-metal and uranium mines in West Africa, the United States and Canada. Then for 12 years he worked in Toronto for Kerr Addison Mines Ltd., a Noranda Group company, in increasingly senior management and officer positions. From 1990 to 1992 he was the President & CEO of RFC Resource Finance Corp. restarting a zinc mine in Washington State. From 1992 to 1993 Mr. Bojtos was the President & CEO of Consolidated Nevada Goldfields Corp. that operated precious metal mines in the United States. From 1993 to 1995 he was Chairman & CEO of Greenstone Resources Ltd, acquiring, constructing and operating several gold mines in Central America.
For the past 26 years Mr. Bojtos has been an independent director of numerous Canadian, US, Australian, London or European listed mining and exploration companies including Birim Goldfields Inc., Desert Sun Mining Corp., Queenstake Resources Ltd., European Uranium Inc., US Gold Corp., Vaaldiam Resources Ltd. and William Resources Inc. and is currently the Chairman of the Board of Avino Silver & Gold Mines Ltd. He was also the President of Pembridge Resources plc which acquired and restarted the Minto copper
mine in Yukon.
"As we transition Blue Lagoon Resources from an exploration company to a near-term producer, assembling a team of proven industry leaders is critical to our success," said Rana Vig President and CEO of Blue Lagoon Resources. "Peter's extensive experience in mine development, financing, and operations makes him an invaluable addition to our Mining Committee. His deep understanding of what it takes to bring mines into production and maintain profitable operations, will provide us with strategic guidance as we focus on responsibly and efficiently advancing the Dome Mountain Gold Project . We are excited to welcome Peter to the team and look forward to his contributions as we move into this next chapter of growth," he added.
A Strong Foundation for Growth
The Mining Committee has been strategically assembled to provide technical guidance, operational oversight, and strategic planning expertise as Blue Lagoon moves forward towards production. While Dome Mountain remains a highly prospective district-scale property with 15 known high-grade gold veins and less than 10% of the land package explored , the Company's primary focus is on safely, responsibly and efficiently mining its fully permitted deposit while self-funding future exploration and resource expansion .
With the addition of Mr. Bojtos and further strategic appointments that will be announced in the coming weeks, Blue Lagoon Resources is well-positioned to accelerate its transition to gold and silver production and build shareholder value.
Any production decision in advance of obtaining a feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure .
About Blue Lagoon Resources Inc.
Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 - one of only nine such permits issued in British Columbia since 2015 - Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production . The Company's primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.
For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: ranavig@bluelagoonresources.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") 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", "targets", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "mine", "production" 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 results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, 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, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's, contractor's and consultants' beliefs, estimates or opinions, or other factors, should change.
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Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) is pleased to announce a non-brokered private placement of a combination of a maximum of 60,000,000 units of the Corporation (each, a " Unit ") at a price of $0.05 per Unit and a maximum of 50,000,000 common shares of the Corporation that qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (each, a " FT Share ") at a price of $0.06 per FT Share, for aggregate gross proceeds of up to $3,000,000 (the " Private Placement ").
It is expected that the proceeds from the Private Placement will be used to advance activities for development and exploration at the Sleeping Giant and Flordin gold projects in the Abitibi Greenstone belt of Quebec.
Each Unit will consist of one common share of the Corporation (a " Common Share ") and one common share purchase warrant (a " Warrant "). Each Warrant will entitle its holder to purchase one Common Share at a price of $0.08 for a period of 36 months following the closing date of the Private Placement (the " Closing Date ").
In the event that, during the period ranging between 12 months and 36 months following the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.12 per Common Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an " Acceleration Notice ") thereof and issuing a press release (a " Warrant Acceleration Press Release "), and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30 th day following the later of (i) the date on which the Acceleration Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
The Private Placement is expected to close on or about April 3, 2025 and remains subject to final approval of the TSX Venture Exchange (the " TSXV ").
All securities issued in connection with the Private Placement will be subject to a restricted period ending on the date that is four months plus one day following the date of their issuance.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ABOUT Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration corporation with strategically located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where it concentrates its activities.
For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt's profile on www.sedarplus.com , or contact:
| Pascal Hamelin President and CEO T: (819) 768-2857 E: phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc., T: (514) 722-2276, post 456 E: dany.cenac-robert@reseaupromarket.com |
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Such forward-looking information includes, but is not limited to, statements concerning the Corporation's expectations with respect to the completion of the Private Placement on the terms set out above; the use of the available funds following completion of the Private Placement; and expectations with respect to other activities, events or developments that the Corporation expects or anticipates will or may occur in the future. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR+ at www.sedarplus.com. Although the Corporation 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 Corporation 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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