Precious Metals

(TheNewswire)



CMC Metals Ltd. (the "Company") (TSXV:CMB) (OTC :CMCXF ) (Frankfurt:ZM5N) is pleased to announce that, further to its April 7 and April 30, 2021 press releases, it has closed a non-brokered private placement (the " Offering ") comprising 4,812,500 flow-through units (each, a " FT Unit ") at a price of $0.16 per FT Unit, and 2,286,735 non-flow through units (each, a " NFT Unit ") at a price of $0.14 per NFT Unit. Gross proceeds from the Offering were $1,090,143.

Each FT Unit and each NFT Unit is comprised of one common share and one-half of one transferrable non-flow-through share purchase warrant (each whole Warrant, a " Warrant ").  Each Warrant entitles the holder thereof to acquire one non- flow-through common share of the Company (a " Warrant Share ") at a price of $0.30 per Warrant Share, expiring on June 14, 2023.

Net proceeds from the Offering will be used to fund the Company's exploration activities and for general corporate purposes. Proceeds from the sale of common shares comprising the FT Units will be used to incur "Canadian exploration expenses" and "flow through mining expenditures" as these terms are defined in the Income Tax Act (Canada).

Finders' fees comprised of cash (the " Cash Fees "), and non-transferable warrants (the " Finder's Warrants "), are payable in connection with the Offering, in compliance with the policies of the TSX Venture Exchange. A Cash Fee of $18,41 0 and 115,063 Finder's Warrants are payable in connection with a portion of the Offering to Red Cloud Securities Inc. (" Red Cloud "), equal to 7% of gross proceeds and units received from subscribers located by Red Cloud. A Cash Fee of $11,797.98 and 84,271 Finder's Warrants are payable in connection with a portion of the Offering to German Mining Networks GmbH (" German Mining "), equal to 6% of gross proceeds received from subscribers located by German Mining. The terms of the Finder's Warrants will be the same as the Warrants.

All securities issued and sold under the Offering will be subject to a hold period expiring on October 15, 2021.

Kevin Brewer, President & CEO and an insider of the Company, has acquired 250,000 FT Units pursuant to the Offering. The foregoing transaction constitutes a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The related party transaction is exempt from the formal valuation requirements of section 5.4 of MI 61-101, pursuant to subsection 5.5(a) of MI 61-101. The related party transaction is also exempt from the minority approval requirements of section 5.6 of MI 61-101, pursuant to subsection 5.7(1)(a) of MI 61-101. A material change report was not filed more than 21 days prior to closing as contemplated by the related party transaction requirements under MI 61-101, as the insider participation was only recently confirmed.

The securities comprising the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the " 1933 Act "), or under any state securities laws and, accordingly, may not be offered or sold within the United States, except in compliance with the registration requirements of the 1933 Act and applicable state securities laws requirements or pursuant to exemptions therefrom.  This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for silver in Yukon and British Columbia and polymetallic deposits in Yukon and Newfoundland. Our silver-lead-zinc prospects include the Silver Hart Deposit and Blue Heaven claims, and the recently acquired Rancheria South, Amy and Silverknife claims. Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil and Terra Nova (both in Newfoundland).

On behalf of the Board:

___________________

John Bossio, Chairman

CMC METALS LTD.

For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:

Investor Inquiries: Kevin Brewer, P. Geo.

President, CEO and Director Tel: (604) 605-0166 kbrewer80@hotmail.com

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact              Mr. Kevin Brewer at 604-605-0166.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions.  While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all.  Actual results may differ materially from those currently anticipated in such statements.  Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions.  Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com . Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

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SILVERCORP REPORTS ADJUSTED EARNINGS OF $13.5 MILLION, $0.08 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $40.2 MILLION FOR Q1 FISCAL 2023

Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM

Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended June 30, 2022 ("Q1 Fiscal 2023"). All amounts are expressed in US Dollars, and figures may not add due to rounding.

HIGHLIGHTS FOR Q1 FISCAL 2023
  • Mined 300,104 tonnes of ore and milled 298,176 tonnes of ore, up 30% and 23% compared to the prior year quarter;

  • Sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 6.9 million pounds of zinc, representing increases of 17%, 10%, and 14% in silver, gold and lead sold, and a decrease of 5% in zinc sold, compared to the prior year quarter;

  • Revenue of $63.6 million , up 8% compared to $58.8 million in the prior year quarter;

  • Net income attributable to equity shareholders of $10.2 million , or $0.06 per share, compared to $12.2 million , or $0.07 per share in the prior year quarter;

  • Adjusted earnings attributable to equity shareholders of $13.5 million , or $0.08 per share, compared to $15.8 million , or $0.09 per share in the prior year quarter. The adjustments were made to remove impacts from impairment charges, share-based compensation, foreign exchange, mark-to-market equity investments, and the share of associates' operating results.

  • Cash flow from operations of $40.2 million , up 10% or $3.7 million compared to $36.5 million in the prior year quarter;

  • Cash cost per ounce of silver, net of by-product credits, of negative $1.57 compared to negative $1.43 in the prior year quarter;

  • All-in sustaining cost per ounce of silver, net of by-product credits, of $9.25 compared to $7.46 in the prior year quarter;

  • Spent and capitalized $3.1 million on exploration drilling, $9.7 million on underground development and $1.2 million on the construction of the new mill and tailings storage facility;

  • Paid $2.2 million of dividends to the Company's shareholders;

  • Spent $0.9 million to buy back 334,990 common shares of the Company under its Normal Course Issuer Bid, and subsequent to the quarter, bought back further 404,970 common shares of the Company for $1.0 million ; and

  • Strong balance sheet with $215.8 million in cash and cash equivalents and short-term investments, up $2.9 million or 1% compared to $212.9 million as at March 31, 2022 . The Company holds further equity investment portfolio in associates and other companies with a total market value of $147.4 million as of June 30, 2022 .

CONSOLIDATED FINANCIAL RESULTS

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SilverCrest Reports Q2, 2022 Financial Results

TSX: SIL | NYSE American: SILV

 SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to report the Company's unaudited financial results for the second quarter of 2022 ("Q2, 2022"). The unaudited condensed consolidated interim financial statements and management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2022 are available under the Company's SEDAR profile on www.sedar.com or on SilverCrest's website www.silvercrestmetals.com . All amounts herein are presented in United States Dollars, unless otherwise stated.

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Falcon Gold Closes $300,000 Private Placement

FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); ("Falcon" or the "Company") announces the Company has closed its non-brokered private placement previously announced August 10th, 2022. and has issued 4,000,000 common shares for proceeds of $ 300,000. Each Unit priced at 7.5 cents consists of one common share and one common share purchase warrant priced at 10 cents for a 36-month term. The shares will be subject to a standard 4 month hold period (TSX.V Policy) no finders fees have been paid. Proceeds from the offering are for general working capital purposes and exploration expenditures.

The closing of the Private Placement is subject to TSX Venture Exchange approval.

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Endeavour Silver - Withholding Sales for Inventory Impacts Quarterly Results

Second quarter 2022 results. Endeavour generated a second quarter adjusted net loss of $4.3 million, or $(0.02) per share, compared to adjusted net income of $2.4 million, or $0.01 per share, during the prior year period. We had projected a loss of $5.6 million, or $(0.03) per share. Including changes in the fair value of investments, the company reported a loss of $(0.07) per share. Endeavour retained inventory for future sale at higher prices. At quarter end, Endeavour held 1,399,356 ounces of silver and 2,580 ounces of gold in bullion inventory and 12,408 ounces of silver and 587 ounces of gold in concentrate inventory. Updating estimates. Endeavour increased its production forecast to a range of 7.6 million to 8.0 million from 6.7 million to 7.6 million silver equivalent ounces to reflect higher than planned ore-grades along the El Curso ore body at Guanacevi. While the company is experiencing cost inflation, cash and all-in sustaining costs expectations remain $9.00 to $10.00 per ounce and $20.00 to $21.00 per ounce, respectively. We increased our 2022 EPS estimate to $0.11 from $0.10 and reduced our 2023 estimate to $0.13 from $0.15 to reflect modestly lower commodity prices and margin. Read More >>

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Fortuna Reports Results for the Second Quarter of 2022

(All amounts expressed in US dollars, tabular amounts in millions, unless otherwise stated)

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) ("Fortuna" or the "Company") today reported its financial and operating results for the second quarter of 2022. Second Quarter 2022 Highlights

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Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2022

Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American", or the "Company") today reported its estimated mineral reserves and mineral resources as at June 30, 2022 . Proven and probable mineral reserves are estimated to contain approximately 514.9 million ounces of silver and 3.6 million ounces of gold. Measured and indicated mineral resources (excluding proven and probable reserves) are estimated to total approximately 838.6 million ounces of silver and 8.1 million ounces of gold. In addition, inferred mineral resources total 507.7 million ounces of silver and 5.7 million ounces of gold.

"We successfully replaced 11 million ounces of silver mineral reserves and 96.1 thousand ounces of gold mineral reserves at our producing mines over the past 12 months. Most of our exploration drilling was focused on near-mine exploration at La Colorada , Huaron and Timmins and produced positive results. Most notably, 7.3 million ounces of silver mineral reserves were added at La Colorada , more than replacing the 6.7 million ounces mined," said Christopher Emerson , Pan American's Vice President of Business Development and Geology. "Gold and silver mineral reserves were impacted by the reclassification of mineral reserves to mineral resources at the Dolores underground mine and considering the localized overestimation of the contained ounces within Phase 9B , which offset reserve gains at La Arena, Shahuindo and Timmins ."

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