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Cache Announces LOI to Acquire historical 1.7MOz Gold Mine in Krasnyarsk, Russia.

(TheNewswire)



Vancouver, British Columbia TheNewswire - February 3, 2021 - Cache Exploration Inc. (the "Company", or "Cache"), (TSXV:CAY ) ( OTC:CEXPF ) is pleased to a nnounce the execution of a Letter of Intent (" L OI ") with the Artemovsky Rudnik Joint-Stock Company to acquire ownership of the previously mined Lysogorskoye Gold Deposit (" Lysogorskoye " or " the Project ") located in the southern Krasnoyarsk region, Russia. The Company is preparing t o conduct the necessary due diligence on the Project.

Artemovsky Rudnik JSC has 100% interest in the Lysogorskoye Gold Deposit. The shareholders of Artemovsky Rudnik JSC shall be issued shares of Cache Explorations and cash based on the value that both parties agree upon following the due diligence period. The Company has until April 30, 2021 to complete due diligence on the Project and sign a Definitive Agreement, The Definitive Agreement is subject to TSX Venture approval and any other approvals to complete this agreement. Either party may terminate this Letter of Intent with 10 business days following the completion of its due diligence.

Jack Bal, CEO of Cache Exploration Inc. States "We are extremely excited to commence due diligence on the Lysogorskoye Gold Deposit . Cache Exploration has been looking for production opportunities around the world to add shareholder value. We feel Lysogorskoye gives us the ability to become a producer in the near term"

All technical data on the Lysogorskoye Gold Deposit has been supplied by the vendor and has not been independently verified by a qualified person.

The Lysogorskoye Gold Deposit , located in the Kuragino district of Krasnoyarsk, comprises a formerly operated underground gold mine within a 5.34 km 2 license area located 2.5 km west of the Abakan-Taishet rail network, with access to the area power transmission grid, good roads and a local population of skilled people. The Vendor has held the license since August, 2017. The project may present an opportunity for rapid recommissioning for the production gold dore.


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Discovered in 1960, formal evaluation of the Project resulted in an initial historical estimate of 10 tonnes (321,507 oz) of gold in 1968 (Soviet era "C2" classification). Past work has reportedly focused upon the exploration of a system of 26 NE-striking ‘veins' dipping 25 – 45o to the SE, and comprising of two types: quartz rich veins and structurally controlled zones of ‘cleavage crack' hosted gold deposition: these zones intersect locally to form broader ‘shoots', but commonly the ‘veins' range from 0.6 to 3.8m in width (averaging 0.85m). Past activity appears to have focused on gravity gold recovery. Some of the veins reportedly extend down-dip to 300m, and have been accessed underground via three adits (numbered 52 (deepest) – 54 (shallowest), of 60m vertical separation between them). Some 19,215 m of principal underground workings were driven between 1974 and 1995, developed around information from 27,541 m of surface drilling and 63,354 m of underground drilling. For the same period some 7,087 kg (227,852 oz) of gold production at 8.2 g/t (0.264 oz/t) was also recorded. Underground workings, which comprise of conventional drill and blast and some tunnel boring machine development, are reportedly dry and in good condition.

Since 2008 some additional exploration (by OJSC company "Minex Resources") included 1,715.3 m of drilling (12 holes) confirmed aspects of the historical work, and suggests potential for stockwork mineralization in addition to the vein hosted gold. Recoverable silver and possibly copper are also indicated.  A technical report "Miramine - Mineral Resource Modeling and Estimation Report JORC-2011" by Miramine LLC was published on the Lysogorskoye gold deposit in (2011, historical). The estimation of resources is reported to consider 6,443 kg (207,147 oz) Indicated Resource and 46,331 kg (1,489,574 oz) Inferred at Lysogorskoye. A review and/or recalculation of the historic resource is required by an independent Qualified Person to confirm these as current resources as defined by NI 43-101. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.

Since 2016 some additional technical work by the Vendor has confirmed a startup resource (category "C1") of 504 kg (16,204 oz at 9 g/t) and a development plan for a small gold plant has been prepared. The license includes an initial authorization for project development to include ore processing through an on-site Gold Recovery Plant, which contemplates cyanidation of flotation concentrate. The Vendor also reports recoverable silver and copper albeit at very low grades (Ag, approximately 2.46 g/t) and copper (approximately 0.2%).

Cache is pleased to announce that it intends to complete a non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.28 per Common Share for aggregate proceeds of up to $2,800.000 (the "Private Placement") Each unit will consist of one common share and one half common share purchase warrant.  Cache reserves the right to increase the size of the private placement to 15,000,000 units.  Each warrant will entitle the holder to purchase one additional common share, up to a total of 5 million warrant shares, at a warrant exercise price of $0.35 cents exercisable for a period of 24 months from the date of closing; provided that, if, at any time prior to the expiry date of the warrants, the volume-weighted average trading price of the common shares on the Toronto Venture Exchange  is greater than $0.50 for 10 consecutive trading days, the company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of warrants accelerating the expiry date of the warrants to the date that is 30 days following the date of such notice. Any unexercised warrants will automatically expire at the end of the accelerated exercise period.

Closing of the private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the exchange. All securities issued in connection with the private placement will be subject to a statutory hold period in accordance with applicable securities legislation. The company intends to use the net proceeds of the private placement to finance exploration on the Kiyuk Lake property, for current liabilities and for general working capital purposes.

Finders' fees of 7 per cent in cash and 7 per cent in finders' warrants will be paid in connection with the completion of the offering, in accordance with TSX Venture Exchange policies.

The Company announces that it has granted to certain directors, officers and consultants of the company Options to purchase up to 2,000,000 million common shares in the capital of the company pursuant to the company's stock option plan. The options are exercisable on or before February 2, 2023, at an exercise price of $0.31 per share.  The grant of Options is subject to regulatory approval.

About Cache Exploration

Cache is a gold focused Company that holds and operates the Kiyuk Lake Property which covers 590km 2 in SW Nunavut: the project features a number of gold bearing prospects including 2017 identification of 8m of 26.4 g/t gold at the Rusty Zone and extensive mineralization at East Gold Point with 64 m at 1.5 g/t gold and 10 m at 6.5 g/t gold. Extensive surficial float evidence indicates a series of high-interest gold systems (see https://cacheexploration.com/CAY-NR-10-26-17 to view plan maps of Rusty Zone and East Gold Point, section showing select KI17-004 and -005 drill results and Maps of rock and till sampling results.

Qualified Persons

Chris Pennimpede, P. Geo., is a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.

For more information about Cache Exploration, please visit: https://www.cacheexploration.com/

On behalf of the Board of Directors

Cache Exploration Inc.

" JackBal "

JackBal

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT :

JackBal

Tel. 604-306-5285 jackbalyvr@gmail.com

Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Private Placement and Share Consolidation of Cache Exploration Inc. ("Cache"); the availability of capital and finance for Cache to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by Cache in light of its experience and perception of current and expected future developments, as well as other factors that Cache believes are appropriate in the circumstances. Many factors could cause Cache's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

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B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that it has published its ninth annual Responsible Mining Report entitled "Raising the Bar" (the "Report"), which details B2Gold's global economic contributions and its environmental, social, and governance ("ESG") management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated.

B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal

In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."

Highlights from the 2024 "Raising the Bar" Responsible Mining Report

Economic Contribution

As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:

  • Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.);

  • Generated $1.9 billion in annual revenue;

  • Paid $283 million in employee wages and benefits;

  • Invested $12.8 million in its local communities 1 ; and

  • Paid $564 million to governments (through taxes and royalties).

B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.

People

As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.

At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.

B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.

Health and Safety

As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.

Communities

B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:

  • At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027.

  • At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment.

  • At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system.

  • At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk.

Environment

B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).

Approach to Reporting

B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.

Highlights from the 2024 Climate Strategy Update

2024 Highlights

  • B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline.

  • The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops.

  • The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production.

  • The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%.

Looking Forward – 2025 and Beyond

In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.

As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.

Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.

ON BEHALF OF B2Gold Corp.

"Clive T. Johnson"
President and Chief Executive Officer

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Refinery Settlement   #2
LBS. (WET) 265
MOISTURE 16.20%
LBS (DRY) 222
DST 0.111
Au oz/dst 5.614
Ag oz/dst 2.506
Au: 0.623 oz
Ag: 0.278 oz
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Ag $32.50
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