Gold

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta" or the "Company") is pleased to provide an updated mineral resource estimate ("MRE") for its 100% owned Tower Gold project ("Project"), located 100 kilometres ("km") east of Timmins, Ontario. The consolidated mineral resource now totals 4.27 million ("M") ounces ("oz") indicated gold ("Au") and 7.50 Moz inferred gold, positioning Tower Gold as one of the advanced exploration projects in Canada. The MRE will form the basis of an updated preliminary economic assessment ("PEA") scheduled for completion later this quarter.

Highlights of the Updated Tower Gold Mineral Resource Estimate:

  • 70% increase in total contained Au to 7,496,000 oz (combined underground and open pit) in the inferred category on the Tower Gold project
    • Addition of 3,097,000 oz of total inferred gold resources
  • 8% increase in total contained Au to 4,265,000 oz (combined underground and open pit) in the indicated category on the Tower Gold project
    • Addition of 298,000 oz of total indicated gold resources
  • Increase in grade of the underground resources (22% indicated and 2% inferred) and no material change in the average grade of the open pit resources
  • 25% increase of indicated open pit Au resources to 4,153,000 oz and 156% increase in inferred open pit Au resources to 5,801,000 oz
  • Increase in higher grade ounces in the Garrison starter pit to 1,748,000 oz contained Au indicated resources at a grade of 1.07 g/t Au
  • Definition of high-grade open pit at Westaway containing 1,067,000 oz at a grade of 2.14 g/t Au inferred resources
  • Re-establishment of the open pit at South West containing 316,000 oz Au indicated and 1,195,000 oz Au inferred resources
  • Infill of the Windjammer open pit to contain 1,767,000 oz Au indicated and 2,393,000 oz Au inferred contained ounces (Windjammer South and Windjammer Central)

The updated mineral resource was independently prepared by APEX Geoscience Ltd. in accordance with National Instrument 43-101 ("NI 43-101"), with an effective date of May 11, 2022, and using a database current as of March 15, 2022. The Tower Gold project has shown a significant improvement in size over the December 2020 resource estimate and remains open in several directions. The majority of the new resources are attributed to the addition of over 3.0 Moz of total inferred gold resources and 0.3 Moz indicated resources, including the re-establishment of an open pit resource at South West, the discovery of additional resources at Westaway, the infill of the Windjammer open pit at Windjammer Central, and the definition of underground resources at Garrcon.

Mr. Gary O'Connor, Chief Executive Officer commented "We are extremely pleased with the outcome of this mineral resource estimate update for the Tower Gold project. The objective of a significant increase in mineral resources was achieved, while confirming once more the potential of this exceptional Project. We have seen an increase in the underground grade and an expansion of our open pit resource base without any material loss in grade, whilst capturing some of the previous underground resources within the new open pits. This resource update will form the basis of the long-life mine plan, with large scale open pit and high-grade underground optionality, to be outlined in a preliminary economic assessment ("PEA") study, anticipated to be completed in late June 2022. We would also like to acknowledge the excellent work of our employees and contractors in managing our significant drill program to deliver this very significant resource and a special thank you to our Wahgoshig First Nation hosts, stakeholders, and shareholders for their continued support as we advance this Project".

Table 1: NI 43-101 Mineral Resource Estimate by Deposit - Tower Gold Project

May 2022 ResourceCategoryIndicatedInferred
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
TotalOpen Pit146,294,0000.884,153,000207,878,0000.875,801,000
Underground701,0004.95112,00012,269,0004.301,695,000
Total Open Pit + Underground146,995,0000.904,265,000220,147,0001.067,496,000
Breakdown by Deposit
South WestOpen Pit11,176,0000.88316,00041,178,0000.901,195,000
Underground168,0004.5425,0006,761,0004.36948,000
Windjammer SouthOpen Pit45,146,0000.781,135,00026,631,0000.72613,000
Underground---918,0004.57135,000
WestawayOpen Pit312,0002.2222,00015,530,0002.141,067,000
Underground---3,214,0003.94407,000
Windjammer CentralOpen Pit31,986,0000.62632,00085,086,0000.651,780,000
Underground------
55 ZoneOpen Pit4,379,0001.25176,0004,621,0001.02151,000
Underground---186,0004.2025,000
DiscoveryOpen Pit2,251,0001.72125,0005,511,0001.50266,000
Underground---440,0004.1959,000
GarrconOpen Pit25,614,0001.02841,000707,0000.6715,000
Underground533,0005.0887,000750,0004.98120,000
903Open Pit18,843,0001.01610,00025,040,0000.74600,000
Underground------
JonpolOpen Pit6,587,0001.40297,0003,574,0000.99114,000
Underground------

Notes:

  1. Mineral Resource Estimates are reported at two different cut-off grades; 0.3 g/t Au for the surface mining scenario and 2.6 g/t Au for the underground mining scenario.
  2. The cut-off grade was determined at a gold price of US$1,750 per ounce and an exchange rate of USD$/CDN$ of 0.78.
  3. The resource estimate is supported by statistical analysis with different high-grade capping applied to each of the deposits ranging from 1.6 g/t Au to 80.0 g/t Au applied on assays composited into one (1) metre composites
  4. The mineral resources presented here were estimated with a block size of 2.5mx2.5mx2.5m utilizing percent blocks and constrained within geological wireframes with a minimum width of 1.50m. Gold was estimated by Ordinary Kriging using locally varying anisotropy variogram models. The max range of the variogram models generally are between 65mx25mx2.5m and 80m x 45m x5m. The search ellipse was constrained to selecting composites flagged within each domain.
  5. The mineral resources presented here were estimated by APEX Geoscience Ltd. using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves definitions and guidelines.
  6. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant factors.
  7. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Resources as Indicated or Measured Resources. It is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  8. The historical underground voids from mining in any of the deposit areas have been removed.
  9. Tonnage estimates are based on bulk densities individually measured and calculated for each of the deposit areas. Resources are presented as undiluted and in situ.
  10. This mineral resource estimate is dated May 11, 2022. The effective date for the drill-hole database used to produce this updated mineral resource estimate is March 15, 2022. Tonnages and ounces in the tables are rounded to the nearest thousand and hundred, respectively. Numbers may not total due to rounding.
  11. A new NI 43-101 report will not be produced as the total tonnage or total contained metal have not changed by more than 100% over the most recent previous resources. A new updated NI 43-101 technical report will be produced with updated resources upon completion of the updated PEA.
  12. Discovery includes the Windjammer North resource.
  13. Mr. Mike Dufresne, P.Geo. of APEX Geoscience Ltd., who is deemed a qualified persons as defined by NI 43-101 is responsible for the completion of the updated mineral resource estimation.

Mineral Resource Comparisons; May 2022 versus December 2020

Table 2: NI 43-101 Mineral Resource Estimate Comparison - Total Resources
May 2022 vs December 2020

Open Pit + UndergroundIndicatedInferred
CategoryTonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
December 2020121,604,0001.013,967,00095,083,0001.444,399,000
May 2022146,995,0000.904,265,000220,147,0001.067,496,000
Difference25,391,000
298,000125,064,000
3,097,000
Percentage Change21%
8%132%
70%

Table 3: NI 43-101 Mineral Resource Estimate Comparison - Open Pit Resources
May 2022 vs December 2020

Total Open PitIndicatedInferred
CategoryTonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
December 2020116,745,0000.893,335,00079,372,0000.892,270,000
May 2022146,294,0000.884,153,000207,878,0000.875,801,000
Difference29,549,000
818,000128,506,000
3,531,000
Percentage Change25%
25%162%
156%

Table 4: NI 43-101 Mineral Resource Estimate Comparison - Underground Resources
May 2022 vs December 2020

Total UndergroundIndicatedInferred
CategoryTonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
December 20204,859,0004.05632,30015,711,0004.212,128,100
May 2022*701,0004.95112,00012,268,0004.301,694,000
Difference-4,158,000
-520,300-3,443,000
-434,100
Percentage Change-86%
-82%-22%
-20%

Resources reported in the underground category in December 2020 have been reclassified into the open pit category in May 2022 due to the expansion and deepening of the open pits in the current estimate.

Mineral Resource Sensitivities

Mineral resources at various cut-off grades are presented for the open pit resources and for the underground resources in Table 5 and Table 6. Design basis assumptions for the calculation of the cut-off grades applied to the resource estimates are provided below for the open pit resources and for the underground resources. The mineral resources are reported at the same cut-off grades as for the December 2020 open pit resource estimates (0.30 g/t Au) in both the Golden Highway and Garrison areas, and for the December 2020 underground mineral resource for the South West deposit at Golden Highway (2.60 g/t Au).

Table 5: Tower Gold, Open Pit Resource Estimate Sensitivity Table


IndicatedInferred
Cut-Off
Grades
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
0.20179,584,0000.774,421,000259,798,0000.746,218,000
0.25162,836,0000.824,299,000232,794,0000.806,023,000
0.30146,293,0000.884,153,000207,879,0000.875,802,000
0.40117,035,0001.023,826,000162,690,0001.015,296,000
0.5094,078,0001.163,495,000128,435,0001.164,803,000

Table 6: Tower Gold, Underground Resource Estimate Sensitivity Table


IndicatedInferred
Cut-Off
Grades
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
Tonnes
(t)
Grade
(g/t Au)
Ounces
(oz)
1.501,584,0003.30168,00028,201,0002.992,711,000
2.001,035,0004.10136,00018,983,0003.592,190,000
2.60701,0004.95112,00012,268,0004.301,695,000
3.00545,0005.5397,0009,443,0004.741,438,000

Mineral Resource Methodology, Assumptions and Cut-Off Grades

Modeling was conducted in the Universal Transverse Mercator (UTM) coordinate space relative to the North American Datum (NAD) 1983, and UTM zone 17N. The mineral resource block model utilized a block size of 2.5 m (X) x 2.5 m (Y) x 2.5 m (Z) to honor the mineralization wireframes. The percentage of the volume of each block below the bare earth surface, below the modeled waste overburden surface and within each mineralization domain was calculated using the 3D geological models and a 3D surface model. For the open pit resources, the block model was block-averaged up to a 5 m (X) x 5 m (Y) x 5 m (Z) SMU block size for pit optimization with the outer blocks on the boundaries of the domains diluted.

The MRE is based on the combination of geological modeling, geostatistics and conventional block modeling using the Ordinary Kriging method of grade interpolation with locally varying anisotropy variogram models.

The Golden Highway area drillhole database consists of 748 drill holes that intersected the interpreted mineralization wireframes. The gold assays were composited to 1 metre composites lengths and the estimation utilized 75,652 composited samples. A total of 10% of the total drilled metres inside the interpreted mineralization wireframes were not sampled, assumed to be waste, and assigned a nominal waste value of half the detection limit of modern assay methods (0.0025 g/t)

The Garrison area drillhole database consists of 992 drillholes that intersect the interpreted mineralization wireframes. The gold assays were composited to 1 metre composites lengths and the estimation utilized 166,673 composited samples. A total of 13% of the total drilled metres inside the interpreted mineralization wireframes were not sampled, assumed to be waste, and assigned a nominal waste value of half the detection limit of modern assay methods (0.0025 g/t).

The Gold estimation was completed using ordinary kriging. The search ellipsoid size used to estimate the Au grades was defined by the modelled variograms. Block grade estimation employed locally varying anisotropy, which uses different rotation angles to define the principal directions of the variogram model and search ellipsoid on a per-block basis. Blocks within estimation domains are assigned rotation angles using a modelled 3D mineralization trend surface wireframe, which allows structural complexities to be reproduced in the estimated block model. The number of variogram structures, contributions of each structure, and their ranges are set per estimation domain and do not vary within the estimation domain.

A total of 11,252 bulk density samples are available from the Golden Highway area drillhole database. APEX personnel performed exploratory data analysis of the bulk density samples available and the density was assigned for each deposit in the Golden Highway area. The density of the deposits ranged from 2.7 g/cm3 to 2.84 g/cm3. The non-mineralized zones were assigned density based on lithological unit. The modeled overburden was assigned a density of 1.8 g/cm3.

A total of 4,228 bulk density samples were available from the Garrison area drillhole database. APEX personnel performed exploratory data analysis of the bulk density samples available and density was assigned based on lithological unit. The density of the lithological units ranged from 2.77 g/cm3 to 3.1 g/cm3. The modeled overburden was assigned a density of 1.8 g/cm3.

The resource is classified according to the CIM "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" dated November 29th, 2019, and CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10th, 2014. Mr. Dufresne believes the Tower Gold project has the potential for future economic extraction. The unconstrained resource block model was subjected to several open pit optimization scenarios and underground mining parameters. The following criteria, detailed in Table 7 and Table 8, were considered reasonable and were utilized.

Table 7: Tower Gold, Parameters Used for Open Pit Resource Estimate

ParametersUnitValue
Gold PriceUS$/oz1,750
Exchange RateUS$/C$0.78
Mill Recovery by Deposit
Discovery, Windjammer-North%89.40
Windjammer-Central%92.20
Windjammer-South%94.10
South West%93.33
Westaway, Westblock, 55%92.54
Bulk Rock Banded Iron Formation%90
903Formula1-(0.0828*Head Grade Au Gpt ^ 0.4854)/Head Grade Au Gpt)
Jonpol - Non-Refractory%92.54
Jonpol - Refractory%56.20
Garrcon%96.11
Mining Parameters
Sell CostC$/oz2.40
Royalties*%0.00/1.50
Mining Cost - RockC$/t mined2.75
Mining Cost - OverburdenC$/t mined1.84
G&A CostC$/t milled1.00
Processing CostC$/t milled10.60
Pit Slope in Rockdegrees50
Pit Slope in Overburdendegrees25
Reporting Cut-Off GradeAu g/t 0.30

*Golden Highway area has no royalties and in the Garrison area royalties average 1.50%

For the open pit optimization, the estimation models were block averaged to a 5m x 5m x 5m SMU block size and the blocks partially outside of the mineralized wireframes were diluted with a nominal waste value of 0.0025 g/t based on the volume of block outside of the mineralized wireframes. The overall strip ratio for the Golden Highway area and the Garrison area open pits was 4.8:1 and 5.2:1 respectively, inclusive of overburden.

The calculated cut-off of 0.30 g/t Au was selected in reporting the open pit mineral resources in the 2022 resource estimates using the 5m x 5m x 5m SMU block size model.

Table 8: Tower Gold, Parameters Used for Underground Mineral Resource Estimate

ParametersUnitValue
Gold PriceUS$/oz1,750
Exchange RateUS$/C$0.78
Mill Recovery%92.00
Sell CostC$/oz2.40
Payable%99.95
Royalties%0.00/1.50
Mining CostC$/t mined75.00
G&A CostC$/t milled1.00
Processing CostC$/t milled10.60
Cut-Off GradeAu g/t 2.60

*Golden Highway area has no royalties and Garrison area royalties average 1.50%

The calculated cut-off of 2.60 g/t Au was selected in reporting the underground mineral resource in the 2022 resource estimates. Underground mineral resources below the resource open pit are constrained by wireframe solids that encapsulate contiguous 2.5m x 2.5m x 2.5m underground blocks that are above the 2.60 g/t Au cut-off with a volume greater than 1,400 m3.

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Figure 1: Tower Gold Project: Mineral Resource Location Map

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Figure 2: Tower Gold project: Mineral Resources- Isometric View to NW

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Figure 3: Golden Highway Area: Mineral Resources- Plan View

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Figure 4: Golden Highway Area- Long Section

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Figure 5: Garrison Area: Mineral Resource- Plan View

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Figure 6: Garrison Area: Mineral Resource- Long Section

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Moneta's 2022 Exploration Plans

The 70,000 m 2022 drill program currently underway is focused on infill drilling to upgrade inferred resources to the indicated category. New exploration targets will also be tested at Halfway Lake, 55, Garrcon extensions, and the South Basin target, in areas outside of the current resource estimates. The May 11, 2022, mineral resource will form the basis of the updated PEA currently underway. The 2022 drilling program will support a revised MRE that will be the focus of a pre-feasibility study ("PFS") planned for 2023. The scope of the PFS will be informed by the results of the new updated PEA study and will incorporate resource category upgrade drilling, geotechnical studies, mine plan studies, metallurgical recovery test work, process design studies, hydrological studies and ongoing environmental base line and community engagement activities.

Conference Call and Webcast Details

Management will host a webcast and conference call to discuss the results of the resource update on May 12, 2022, at 11:00 am ET.

Conference call number
Participant Toll Free Dial-In Number: (833) 772-0367
Participant International Dial-In Number: (343) 761-2596

Webcast Link

https://app.webinar.net/VNe2jKP0R34

A replay of the conference call will be available at 2:00 pm ET on the Company's website and by calling (800) 585-8367 or (416) 621-4642.

Qualified Persons

The technical content of this press release has been reviewed and approved by Mike Dufresne, P.Geo. of APEX Geoscience Ltd., who is deemed a qualified person as defined by NI 43-101 and was responsible for the completion of the updated mineral resource estimation.

December 2020 Mineral Resource Estimates

The December 2020 mineral resource estimates are included in a NI 43-101 report completed by Ausenco Engineering Canada, dated January 27, 2021, with an effective date of November 25, 2020, entitled "NI 43-101 Technical Report & Preliminary Economic Assessment of the Garrison Project" for the Garrison area, and prepared by Sue Bird, P.Eng., an independent Qualified Person, from Moose Mountain Technical Services. For the Golden Highway area resources are covered in a report independently prepared by Micon International Limited in accordance with NI 43-101, entitled "An Updated Mineral Resource Estimate and Preliminary Economic Assessment for the South West Deposit at the Golden Highway Project, Michaud and Garrison Townships, Black River - Matheson Area, Northeastern Ontario", with an effective date of December 8, 2020 and using a database current as of October 6, 2020. B. Terrence Hennessey, P.Geo. of Micon International Limited was responsible for the completion of the updated NI 43-101 mineral resource estimation for the Golden Highway area.

QA/QC Procedures

Drill core is oriented and cut with half sent to AGAT Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). AGAT is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Activation Laboratories Ltd. Randall Salo, P.Geo. is a qualified person under NI 43-101 and oversaw the drill program and has reviewed and approved the technical contents of this press release.

About Moneta Gold

Moneta is a Canadian based gold exploration company focussed on advancing its 100% wholly owned Tower Gold project, which currently hosts a gold mineral resource estimate of 4.3 Moz indicated and 7.5 Moz inferred. The Company's 2022 drill program is primarily designed to infill and upgrade the resource categories of the mineral resources. An updated PEA study encompassing the entire Tower Gold project is planned to be completed in June 2022. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource expansion drilling program, while conducting all business activities in an environmentally and socially responsible manner.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319

Linda Armstrong, Investor Relations
647-456-9223

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof;further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. and the ability of the Company to finance and carry out its anticipated goals and objectives. International conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; the impact of Russia's invasion of Ukraine and the widespread international condemnation has had a significant destabilizing effect on world commodity prices, supply chains, inflation risk, and global economies more broadly, may adversely affect the Corporation's business, financial condition, and results of operations.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

CAUTIONARY NOTE TO UNITED STATES INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED MINERAL RESOURCES

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ in certain material respects from the disclosure requirements promulgated by the Securities and Exchange Commission (the "SEC"). For example, the terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in the disclosure requirements promulgated by the SEC.

Accordingly, information contained in this news release may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.

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ME:CA
Moneta Gold

Moneta Gold

Overview

The Timmins Gold camp in Ontario, Canada, stands as the country's most prolific gold-producing camp. With over 85 million ounces of gold production across the last 100 years, the large region continues to present investors with world-class gold and mineral discovery possibilities.

Mineral exploration companies operating gold projects in this famous gold district leverage excellent infrastructure and positioning near some of the most economic gold players in mining. However, with multiple junior developers in the region, finding the gold mining company with the best gold assets is what stands the best investments apart.

Moneta Gold (TSX:ME), formerly Moneta Porcupine Mines is one of these companies with a large position in the camp. Focused on its highly prospective flagship Tower Gold Project on the Destor Porcupine Fault corridor in the prolific Timmins gold camp in Ontario, Canada, Moneta Gold holds a 100 percent interest in several gold projects and a 50 percent joint venture with Kirkland Lake Gold Ltd. (TSX:KL).

Moneta Gold's Tower Gold Project hosts a total gold resource of 4.0 million ounces indicated and 4.4 million ounces inferred. The Tower Gold project is a combination of the Golden Highway Gold project and the adjacent Garrison Gold project acquired from O3 Mining (TSXV:OIII, OTCQX:OIIIF). The Garrison gold project consists of the large Garrison open pit gold resource containing 1.8 Moz indicated and 1.1 Moz inferred resources.

Operating in the Timmins Gold camp allows the company to leverage the existing excellent infrastructure in Timmins, which helps support future gold production scenarios.

The future of the Tower Gold Project which contains the Garrison Project and Golden Highway projects remains highly prospective with tremendous resource and economic growth opportunities. Moneta has 100% ownership of one of the largest undeveloped gold projects in North America with regional-scale potential. The company plans an extensive 70,000 m drill program this year followed by an updated resource estimate followed by an updated preliminary economic assessment (“PEA") which will examine a development scenario with significantly expanded scope and production profile.

During 2020 the underground South West deposit within the Golden Highway Project and the Garrison open pit gold deposits were subjected to PEA studies which showed robust economics with solid gold production profiles. New open pit and underground deposits and discoveries at Golden Highway were not included in the PEA studies.

The company is focusing 2021 on testing the significant resource expansion potential identified at Golden Highway and Garrison to expand the total gold resource endowment on the total Tower Gold project and believes the project will be large enough to support milling infrastructure. It is expected that the expanded resource base will result in a significantly expanded scope and production profile in the planned updated PEA study which will address the combined project.

Moneta Gold has a robust capital structure and strategic shareholder portfolio. The company's market cap stands at CAD$213 million with 557.5 million shares outstanding and no debt. The company is supported by a loyal and strong institutional shareholder base, significant insider ownership, the backing and support of O3 Mining and a good retail investor following.

Moneta Gold's management team combines over 35 years of financial management, geology, and mineral exploration experience. Moneta Gold's CEO, Gary O'Connor, has a proven track record of project development and brings world-class expertise in mining investment. Together, he and his team are preparing the company for outstanding economic growth and mineral exploration opportunities.

Management Team

Gary O'Connor, FAusIMM — CEO, Chief Geologist & Director

Gary O'Connor has over 30 years of experience in international mineral exploration and development. He worked as the technical advisor to investment funds over 10 years on Bay Street, was the VP Exploration for Gabriel Resources and European Goldfields for 7 years resulting in the drill out, discovery and feasibility studies of a number of large gold and gold copper deposits.

He worked as a district exploration manager for Freeport-McMoRan in Indonesia for 10 years managing the exploration of the Papuan Medial Belt resulting in a number of new gold and copper gold discoveries, nickel-cobalt resources drill programs and the due diligence of Bre-X Minerals' Busang gold “deposit" in Kalimantan, Indonesia.

O'Connor is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM), a Fellow of the Society of Economic Geology and holds a graduate degree in geology, geophysics and environmental studies from the University of Auckland.

Ardem Keshishian - Vice President Corporate Development

Mr. Keshishian has over 15 years of experience in the capital markets, with a focus on the natural resources sector through tenures at Van Berkom & Associates, precious metals equity research at Haywood Securities and Pollitt & Co. and Chief Financial Officer at Royal Road Minerals Limited. Mr. Keshishian is a CFA™ Charter Holder, holds a Bachelor of Science from Concordia University and a Masters of Business Administration from the John Molson School of Business.

Mr. Keshishian will be primarily responsible for the Company's business and corporate development initiatives, including managing Moneta's marketplace interaction, investor relations and investment relationships to add value to the Company and minimize dilution

Vince Deschamps - Director of Sustainability

Mr. Deschamps has over 30 years of professional experience in environmental studies and community relations in Canada and internationally, with interests in sustainability as it relates to impact assessment and mitigation, Indigenous land use planning systems, and biodiversity conservation. Mr. Deschamps holds a BES (Hons) from the University of Waterloo and an M.Sc. in Rural Planning and Development from the University of Guelph. He is certified as a Verification Service Provider for Mining Association of Canada's "Towards Sustainable Mining" initiative. Mr. Deschamps is a Registered Professional Planner and a citizen of the Métis Nation of Ontario.


Jason Macintosh — CFO & Corporate Secretary

Jason Macintosh is a CPA, having completed his BComm at Dalhousie University and his MBA at Laurentian University. He is also a graduate of the Haileybury School of Mines. He has over 20 years of broad strategic and operational financial management experience, including preparing and overseeing a life-of-mine budget totaling CAD$2.6 billion. Macintosh has also worked in commercial banking and business process outsourcing and mine contracting, iron ore and industrial minerals experience in the mining industry.

Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold (TSX: ME) would like to cordially invite you to visit us at Booth #216 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada, Stephen Harper and Former President of Mexico, Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

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Moneta Intersects Significant Gold Mineralization in Step-out Drilling at Garrcon, Tower Gold Project

Moneta Intersects Significant Gold Mineralization in Step-out Drilling at Garrcon, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the assay results from ten (10) drill holes at Garrcon, from the Garrison area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project. These results represent the final assays from this drill program.

Today's results, testing both the open pit and underground resource expansion potential at Garrcon, have confirmed significant gold mineralization over a strike length of 750 m and width of 500 m in step-out drilling beyond the current resource and within an area with significant historical gold mineralization not currently in any resource category.

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Moneta Expands Gold Mineralization at 55 Zone, Tower Gold Project

Moneta Expands Gold Mineralization at 55 Zone, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the final assay results from ten (10) drill holes at the 55 Zone, from the Golden Highway area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project. Additional holes and assays from this drill program remain pending from the Garrcon deposit area.

This drilling successfully intersected gold mineralization as extensions to the current 55 Zone mineral resource estimate within and as extensions to the economic open pit, over a strike length of 800 m and a width of 250 m.

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Moneta Continues to Expand Gold Mineralization at Windjammer Central, Tower Gold Project

Moneta Continues to Expand Gold Mineralization at Windjammer Central, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the final assay results from twelve (12) previously partially announced and six (6) new drill holes at Windjammer Central, from the Golden Highway area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project. Additional holes and assays from this drill program remain pending.

This drilling successfully intersected gold mineralization over a strike length of 1,500 m and a width of 300 m to the north of the Windjammer South open pit gold resource within the Windjammer Central area. Today's results confirm significant extensions of gold mineralization to the current gold resource at Windjammer South both within and as extensions to the current economic open pit.

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Moneta Expands Gold Mineralization at Recent Halfway Discovery, Tower Gold Project

Moneta Expands Gold Mineralization at Recent Halfway Discovery, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the final assay results of twelve (12) previously partially announced and five (5) new drill holes confirming the recent gold discovery at the Halfway zone, located within the Golden Highway area of the Tower Gold project. The drilling is part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. Additional holes and assays from this drill program remain pending.

Drilling successfully intersected gold mineralization over a strike length of 700 m and a width of 300 m to the east of the Windjammer South open pit gold resource within the Halfway area. Today's results confirm significant extensions of gold mineralization to the current gold resource at Windjammer South.

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Green River Gold Corp.

Green River Gold Corp. Extends the Depth at Its Quesnel Nickel/Magnesium Project and Releases Additional Assay Results from Previous Drilling

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress at the 2022 exploration drilling program at its Quesnel Nickel/Magnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

The first phase of the 2022 exploration drilling program consists of 3 drill holes, approximately 100 meters each, using a portable Winkie drill purchased by the Company late in 2021. The first hole, DD-22-01, was drilled to a depth of 185 feet before it was discontinued for technical reasons. The plan is to re-enter that hole and drill it to greater depth before the current program is complete. The Company has shifted its efforts to drilling the second hole of the 3-hole program. Once the rest of the snow has melted and ground conditions allow, Green River will also be drilling several other known talc outcroppings using a backpack drill. That part of the program will continue throughout the year and is intended to confirm the extent of the talc occurrence and determine whether the nickel, chromium and magnesium mineralization is consistent throughout. The known talc occurrences extend over a length of 1.4 kilometers. The Company will provide regular drilling updates throughout the year.

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fine gold bar

VIDEO — Mickey Fulp: I'm Bullish on Physical Gold and Farmland, Exiting Resource Juniors

Mickey Fulp VRIC 2022youtu.be

With the general markets in turmoil, Mercenary Geologist Mickey Fulp sees few places to turn.

"It's a difficult situation," he said at the recent Vancouver Resource Investment Conference (VRIC). "I am very bearish, not necessarily on commodity prices, but on the whole resource space and the ability of companies to explore, develop, produce — there's a variety of factors against that right now."

Those include resource nationalism, socialism, anti-development initiatives and green agendas, Fulp explained. Meanwhile, mining companies are seeing energy and labor costs pushed up by inflation.

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Trump and the Gold Standard

Trump and the Gold Standard

The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president there was some speculation that he could bring it back.

Rumors that the gold standard could be reinstated during Trump’s presidency, which ran from 2017 to 2021, centered largely on positive comments he made about the idea. Notably, the former US president suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others also expressed support for the concept.

With Trump now out of office, is the US likely to return to the gold standard? And what would it mean if that happened? Read on to learn what the gold standard is, why it ended, what Trump said about bringing it back — and of course what could happen if it ever came into play again.

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Graycliff Exploration CEO James Macintosh

Graycliff Exploration CEO James Macintosh: Significant Drill Results from the Shakespeare Gold Project in Ontario

Graycliff Exploration CEO James Macintosh: Significant Results from Shakespeare Gold Projectyoutu.be

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Constantine Metal Resources CEO Garfield MacVeigh

Constantine Metal Resources CEO Garfield MacVeigh: Kicking Off Our US$18 Million Program at the Palmer Project

Constantine Metal Resources CEO Garfield MacVeigh: Kicking Off Our $18Million Program at Palmeryoutu.be

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gold nuggets

5 Top Weekly TSXV Performers: Tombill Mines Leads Gold Explorers Up

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last Friday (May 20) morning following another volatile week that sent the junior index as low as 690.

Edging just above 700 after the morning bell on Friday, markets across North America found solace after China moved to support its economy with a cut to a key lending benchmark.

On the commodities side, values for West Texas Intermediate crude oil topped US$114 a barrel last Monday (May 16), while Brent crude touched US$115. Both types had consolidated mildly by Friday to hold in the US$112 range.

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