Base Metals

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company is pleased to announce that it has secured a drill rig for early May 2021 to commence a Phase One 4,000 metre drill program at the Company's flagship Fondaway Canyon Gold Project in Nevada ("Fondaway" or "Project").

"We are extremely eager to return to Fondaway Canyon with the intention of expanding our new, near surface, gold zones discovered during the 2020 drill program," stated Mike Sieb, President, Getchell Gold Corp. "Having access to a dedicated drill rig ensures we can focus on advancing Fondaway Canyon throughout 2021."

Fondaway Canyon Gold Project

Getchell Gold completed a very successful 6-hole 1,995 metre drill program at Fondaway Canyon in late 2020. The results released in January and February 2021 (see Company news releases dated January 27 and February 10, 2021) from the drilling within the Central Area demonstrated:

  • the identification of thick zones of gold mineralization interpreted as a down dip continuation of surface mineralization; and
  • the prevalence of high-grade mineralized structures with notable widths within the overall mineralizing system.

The Company has contracted First Drilling to provide a coring rig for the commencement of drilling at Fondaway Canyon in early May 2021.

The Company is in the planning and preparation stage, and will release additional details on the 2021 drill program when they become formalized.

Star Copper-Gold-Silver Project Update

A drill program is planned for the first half of 2021 at the Star Copper-Gold-Silver Project, located 60 km north of Fondaway Canyon. The geophysical survey results completed at the end of 2020 have been modelled and the Company's technical team is presently finalizing the drill plan for permitting. Once the plans and timing of the 2021 drill program at Star are formalized, the Company will release further details on the 2021 exploration program at Star.

Scott Frostad, P.Geo., V.P. Exploration, is the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.

Corporate Update

The Company additionally wishes to announce the appointment of Brad Aelicks as an Advisor. Mr. Aelicks has extensive finance experience, and has served as Board Member and Senior Officer in a multitude of public and private companies. He has managed companies and their subsidiaries in North America, South America, Africa, and Asia. In 2004 he founded a company, B&D Capital Partners, and through Private Equity, Public Funding, Off-Take Agreements, and Development Partnerships, he helped B&D clients raise in excess of $600 Million. Mr. Aelicks is currently a Co-Founder and Director of Pyfera Growth Capital, an investment company established to support the commercialization of high growth Series A companies in technology & sustainability. Mr. Aelicks not only brings his financial acuity in support of the Company, but he possesses a wealth of geological and exploration technical expertise.

The Company is also pleased to extend Justin Meiklem's consultancy agreement ("Agreement") for Justin's continued assistance in managing and coordinating all marketing, advertising, and other public relations programs implemented by the Company. The Agreement is for a six-month period until September 16, 2021, for which Meiklem will be paid a monthly fee of $7,500. This investor relations agreement as well as the professional engagement fees are subject to CSE approval.

"Brad is a highly respected individual with considerable expertise and Justin's substantial efforts are well evidenced in Getchell's heightened market recognition. We fully welcome their guidance and support as Getchell Gold looks to continued strong growth in 2021," states Mike Sieb, President, Getchell Gold Corp.

The Company announces that incentive stock options to purchase up to 150,000 common shares of the Company have been granted to a consultant pursuant to the Company's stock option plan. The options are exercisable at $0.54 per share for a period of five years from the grant date.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH and OTCQB: GGLDF. Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground historic resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star and Hot Springs Peak. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.

For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com.

Mr. William Wagener, Chairman & CEO

Getchell Gold Corp.
+1 303 517 8764
info@getchellgold.com

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the private placement and the completion thereof and the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, use of proceeds from the financing, capital expenditures and other costs, and financing and additional capital requirements. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77681

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Getchell Gold

Getchell Gold


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Conference call and webcast details:
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Cyprium Metals

Cyprium Metals Limited (ASX: CYM) – Trading Halt

Description

The securities of Cyprium Metals Limited (‘CYM’) will be placed in trading halt at the request of CYM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 30 June 2022 or when the announcement is released to the market.

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Cyprium Metals Ltd AUD50M Secured Offtake Prepayment Facility for Nifty Copper

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce that it has entered into an exclusive Letter of Intent with Glencore International AG ("GLN" or "Glencore") for AUD50 million in respect of a Copper Cathode Offtake Secured Prepayment Facility which will be used for funding the Nifty Copper , as part of the debt financing for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs.

HIGHLIGHTS

- An exclusive Letter of Intent for a Secured Copper Cathode Prepayment Facility has been signed with Glencore, under which:

o Offtake arrangement for 100% of the Copper Cathode produced during Phase 1 of the Nifty Copper Project restart
o AUD50M Secured Offtake Prepayment Facility

- The Secured Offtake Prepayment Project Funding from Glencore is part of a total debt funding package for the Nifty Copper Project restart

- Advanced discussions are continuing with Senior Debt counterparties, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"We are very pleased to enter into an exclusive Letter of Intent for a Copper Cathode Offtake Secured Prepayment Facility with Glencore. This is part of a fully funded finance package for the restart of the Nifty Copper Project.

The restart project economics are very robust, and we have continued to make further improvements to the Nifty Copper Project during the financing process.

We are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans."

This exclusive Letter of Intent includes a non-binding term sheet for both offtake arrangement and project funding. This is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing.

Under the terms of the exclusive Letter of Intent, CYM and GLN will work towards finalising outstanding due diligence activities, and documentation for the project funding for execution, which is being done in conjunction with ongoing advanced discussions with the potential secured senior debt providers.

Key Terms of the Copper Cathode Prepayment Facility

Indicative terms - Offtake

- 100% of Copper Cathode produced at the Nifty Copper Project, up to a maximum of 120,000 tonnes

- Offtake pricing of copper cathode shipments determined by reference to average market rates

Indicative terms - Prepayment Facility

- Facility amount: AUD50 million

- Facility term: 60 months



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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