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.

News Provided by TheNewsWire via QuoteMedia

Cache Exploration TSXV:CAY Gold Investing

Horizon and Poseidon Merging to Fast-Track the Creation of a New WA Mid-Cap Gold Producer

Horizon Minerals Limited (ASX: HRZ) (Horizon) and Poseidon Nickel Limited (ASX: POS) (Poseidon) have entered into a scheme implementation deed (Scheme Implementation Deed) pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement under the Corporations Act 2001 (Cth) (Corporations Act), whereby Horizon will acquire 100% of the fully paid ordinary shares in Poseidon (Poseidon Shares) and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions.

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Horizon Minerals Limited and Poseidon Merging to Create Mid Cap Producer

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) and Poseidon Nickel Limited (ASX:POS) have entered into a scheme implementation deed pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement under the Corporations Act 2001 (Cth) (Corporations Act), whereby Horizon will acquire 100% of the fully paid ordinary shares in Poseidon (Poseidon Shares) and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions.

In addition, Horizon has received firm commitments for a placement to raise $14 million to support the expanded business.

HIGHLIGHTS

Logical consolidation of complementary assets in the Western Australian Goldfields

- The proposed transaction will consolidate Horizon's large gold resource and Poseidon's Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts.

- The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer.

Substantial resource base and regional tenure

- Combined JORC Mineral Resources of ~1.8Moz gold at an average grade of 1.84g/t Au and 422,700t nickel at an average grade of 1% Ni.

- Combined tenure of 1,309km2 in an attractive geological position in the WA Goldfields.

- A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets and greenfield exploration opportunities.

Aligned strategy of using Poseidon's Black Swan infrastructure to fast-track gold production

- Refurbishment of the front end of the Black Swan processing plant and conversion of the back end to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant in the region.

- Horizon's 465koz Burbanks and 428koz Boorara gold deposits form the cornerstone assets in a project pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant.

To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/DPBJR05Q

- Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon's portfolio and open up the region for toll milling and further consolidation.

Shared focus and ambition to become the next mid-tier gold producer

- Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant.

Strategically positioned and permitted infrastructure

- In addition to the combined entity's Kalgoorlie-Coolgardie gold assets, Lake Johnston and Windarra present highly strategic assets that have the ability to deliver further shareholder value.

- Situated in the southern Goldfields, the permitted Lake Johnston 1.5Mtpa processing plant and associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province.

- Located in Laverton, Windarra's water resource and gold tailings present highly strategic assets

Potential for re-rating based on enhanced scale and market relevance

- Enhanced trading liquidity and scale to drive increased market relevance, grow investor appeal and improved access to capital.

- Lower combined corporate overheads to enable greater focus on asset investment.

OVERVIEW

Pursuant to the terms of the Scheme Implementation Deed:

- each Poseidon shareholder will receive 0.1156 Horizon shares for every 1 Poseidon Share held (the Share Scheme);

- each holder of Poseidon options (other than a POS Incentive Option - see below) (Poseidon Options) will receive 0.1156 new Horizon options for every 1 Poseidon Option held (the Option Scheme and, together with the Share Scheme, the Schemes); and

- Poseidon, Horizon and each holder of POS Incentive Options will enter into a deed under which all of the relevant POS Incentive Options will be cancelled (or transferred to Horizon or its nominee) for cash consideration, with effect from the Implementation Date and conditional on the Scheme becoming effective (POS Incentive Option Deed). The POS Incentive Options are not subject to the Option Scheme.

The exchange ratio under the Share Scheme was based on a 40% premium to the 30-day volume weighted average price (VWAP) of $0.0042 per Poseidon share for the period up to 22 October 2024 that is $0.006. Based on the last trading price of Poseidon shares as at 22 October 2024, which was $0.006 and represents a 0% premium to the last traded price.

Following implementation of the Schemes, Horizon shareholders will own 69.8% of the Combined Group (defined below) while Poseidon shareholders will own the remaining 30.2%.

The Schemes are unanimously recommended by the POS Independent Board. Each member of the POS Independent Board intends to vote all Poseidon Shares they control in favour of the Share Scheme and all Poseidon Options they control in favour of the Option Scheme, subject to no Superior Proposal emerging and the Independent Expert concluding (and continuing to conclude) that the Schemes are in the best interests of Poseidon shareholders and holders of Poseidon Options, respectively.

Under the proposed transaction the combined group will have a global JORC Mineral Resource of ~1.8Moz of gold and ~422.7kt of nickel, as well as 1,309km2 of attractive exploration tenure and two strategically located processing facilities in Black Swan and Lake Johnston.

The Black Swan processing plant has a 2.2Mtpa nickel sulphide concentrator and associated infrastructure and is ideally located as a central processing hub for Horizon's gold projects as well as for regional toll treatment opportunities. The Black Swan concentrator will also unlock value for Horizon's high-grade Nimbus silver, zinc and gold project which contains 20.2Moz of silver, 78koz gold and 104kt of zinc.

The proposed transaction brings together complementary assets. A Feasibility Study on the refurbishment and conversion of the Black Swan processing plant to gold production from Horizon's large baseload and satellite gold deposits will be undertaken. The Feasibility Study is expected to be completed in the second half of 2025 with first gold production from Black Swan currently targeted for mid-2026.

The conversion of the Black Swan processing plant for gold processing would utilise the existing crushing and grinding circuit and likely involve the addition of a carbon in leach (CIL) circuit, elution plant and gold room. The Black Swan plant is currently on care and maintenance and will require some refurbishment. Horizon's Feasibility Study will provide an up-to-date estimate of the cost of completing this work.

The combined group of Horizon and Poseidon (the Combined Group) will be pursuing its growth strategy from a position of greater market scale, underpinned by an estimated pro-forma cash and listed investments balance of ~$19 million (inclusive of the Placement) and lower consolidated cost base. Following implementation of the Schemes, Poseidon will be delisted from the ASX and become a subsidiary of Horizon, and the Combined Group will continue to trade as Horizon Minerals Ltd under the ticker (ASX:HRZ).

Completion of the Schemes is targeted for late January / early February 2025. The Schemes remain subject to various customary closing conditions, including the approval of Poseidon shareholders, holders of Poseidon Options, and the Court, which are summarised below.

Commenting on the proposed merger, Horizon Managing Director Mr Grant Haywood said:

"We believe this proposed merger represents a unique opportunity to unlock the value of our significant gold resource in the WA Goldfields and leverage strategically located processing infrastructure.

This really is a logical consolidation of complementary assets, delivering a near term and cost-effective processing pathway and creates greater potential for both sets of shareholders to create value from the cashflow generation potential of a long project pipeline and wholly owned processing infrastructure.

Outside gold, the merged nickel and silver assets enhances the respective asset values of both parties and retains full exposure for the combined shareholder group to crystalise value in any future sustained price upturn for these commodities."

Poseidon Nickel CEO Mr Brendan Shalders commented:

"The Schemes announced today are a pivotal step towards establishing a significant gold business and provides Poseidon shareholders and holders of Poseidon Options with an exciting opportunity to become part of an emerging gold producer at a time when the gold price is at all-time highs.

"There is strong alignment between Poseidon's strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on longer term cashflow generation from cornerstone operations fitting for an emerging mid-tier gold producer."

To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/62XHIX4J

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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Keith Weiner: Key Gold Price Driver Has Changed — Time to Buy Dips, Not Sell Blips

In a conversation with the Investing News Network, Keith Weiner, founder and CEO of Monetary Metals, weighed in on the outlook for gold, touching on a key shift that's occurred in the sector.

"We are in a different market now — and this market now is not being driven by futures, it's being driven by metal," he said, explaining that this new dynamic is giving gold's gains more durability.

While that doesn't mean there can't be corrections, he sees a tension in the industry that's drawing gold higher.

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Barrick Responds to Mali Government's Claims of Breaching Its Commitments

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) denies the allegations made by the Malian Ministry of Mines and the Finance Ministry that it had not honored its commitments made under an agreement designed to achieve a more equitable distribution of mineral resource exploitation to the benefit of all stakeholders.

As announced by Barrick on September 30, the company and the government agreed on a negotiation framework to achieve a global resolution of their disputes. Since that date, Barrick has been actively engaged with the government in pursuit of such a settlement, the terms of which will be set out in a memorandum of agreement.