NOT FOR DISTRIBUTION TO OR FOR DISSEMINATION IN THE UNITED STATES
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company")(CSE:NLR)(OTCQB:NLRCF) announces that it intends to complete a non-brokered private placement (the "Placement") for gross proceeds of up to C$1,000,000 from the sale of common shares of the Company (the "Shares") at a price of C$0.075 per Share
The Company intends to use the net proceeds raised from the Placement for the exploration of the Company's Secret Pass Gold Project located in Northwestern Arizona, USA and for general working capital purposes.
The Placement may be completed in multiple tranches and is subject to receipt of executed subscription agreements and funds as well as customary closing conditions, including regulatory approvals as required.
In accordance with applicable securities laws, the Shares issued under the Placement will be sold to accredited investors or other investors who are exempt from prospectus requirements and will be subject to a four-month hold period in Canada. While the Placement is non-brokered, referral fees may be paid on a portion of the proceeds to eligible persons, where permitted by applicable law.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% controlled, Secret Pass Gold Project located in Mohave County, Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County, Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCD) is pleased to announce start of the 2022 exploration program at the Medicine Springs Silver Project ("Medicine Springs"), located in Elko County, Nevada, that the Company is exploring in joint venture with Reyna Silver Corp. (Reyna Silver
The 2022 exploration program at Medicine Springs will include a 5,000 to 7,000 metre drill program targeting the discovery of a large scale Carbonate Replacement Deposit (CRD) system. Drill permitting is underway and work is commencing immediately on additional field studies to further refine drill targets. Drilling is expected to commence in Q3/Q4 2022.
Norhern Lights CEO, Jason Bahnsen commented "We are delighted to have work underway at Medicine Spings leading to the upcoming 5,000 to 7,000 metre drill program. The Medicine Springs Project has the potential to host large scale CRD silver and base metals mineralizaton and we are looking forward to seeing the results of this initial drill program."
Under the terms of the Opton/JV agreement between Northern Lights and Reyna Silver, Reyna Silver are earning up to 80% of the Medicine Springs Project. Northern Lights does not contribute to project exploration expenditure until total exploration expenditures have exceeded US$4.0 million. (See the Northern Lights announcement dated October 5, 2020 for full details of the Option/JV agreement with Reyna Silver.)
In 2021, Reyna Silver conducted a Selective Jasperoid Sampling survey focused on the prominent NE trending, multi-stage jasperoids that cut across the property along the inferred principal hydrothermal fluid pathways. The results show zoning of Copper, Lead-Zinc, and Silver and are interpreted to indicate a multi-stage high-level mineralization center at depth. Comparison of the field data to Reyna's CRD continuum exploration model supports the idea that the full CRD spectrum is present within the Medicine Springs project area.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCD" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. 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. 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 required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company") (CSE:NLR), (OTCQB:NLRCF) is pleased to announce that it is proceeding with the consolidation of its common shares on a ten (10) for one (1) basis (the "Consolidation"). The Company's common shares will commence trading on a post-consolidated basis effective at market opening on May 24, 2022 (the "Effective Date
Immediately prior to completion of the Consolidation, the Company has 143,571,385 common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 14,357,139 common shares issued and outstanding, subject to the rounding of fractional common shares. The company has been issued with a new Cusip Number (66538D301), there will be no escrow of shares, and the trading symbol will remain unchanged.
No fractional common shares will be issued as a result of the Consolidation. All fractional common shares resulting from the Consolidation will be rounded to the nearest whole number of common shares. The Company's outstanding incentive stock options and warrants will be adjusted on the same basis (10:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices. New warrant certificates reflecting the Consolidation are not required and will not be issued.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-Consolidation common shares for new share certificates or Direct Registration Advice (DRS) representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to affect the Consolidation.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.co
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce an update to the exploration plan for the Tin Cup prospect at the Company's 100% owned Secret Pass Gold Project in Mohave County, Arizona
Following on from the success of the initial four holes completed, Northern Lights is planning to expand the exploration program at Secret Pass to include the drilling of three (3) additional holes at Tin Cup and two (2) drill holes at the FM Zone, which is located approximately 500 metres east of Tin Cup. All five (5) proposed drill holes are fully permitted. The drill holes statistics and significant intersections for the first four drill holes are sumarized on Table 1. The location of the recent drill holes and the planned drill holes for Tin Cup and the FM Zones are illlustrated on Figure 1.
Prior to initiating the second phase of drilling, Northern Lights is planning to complete a deep penetrating Induced Polarization (IP) survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in refining existing targets and identifying new drill targets associated with zones of high chargeability located along strike and to depth. With reference to Figure 1, the IP survey area will cover the gold anomay generated from the soil sampling program completed in 2021. This soil survey identified a significant gold soil anomaly approximately 1,100 metres in length and up to 400 metres wide as shown on Figure1.
Northern Lights CEO, Jason Bahnsen, commented"The initial drilling at Tin Cup has been very successful and has confirmed the presence of wide zones of gold mineralization. The next phase of drilling will test the Tin Cup mineralization at depth and further along strike. We also have two holes permitted to drill at the FM Zone where we are targeting vertical vein structrues similar to Tin cup. The proposed holes are fully permitted with drilling to commence pending financing and availability of drilling contractors."
The first four drill holes completed at Tin Cup showed confirmation of gold mineralization from surface to a maximum depth of approximately 90 metres. The three additional holes planned have been fully permitted and will test the down plunge extension of the gold mineralization. With reference to Figure 2, drill hole TC21-06 is planned for 400 metres at a 55 degree dip to test the mineralizaton at depth. The other two drill holes TC22-07 and TC22-08 will test the mineralization along strike.
At the Tin Cup zone, drilling at depth will test the potential for an epithermal quartz vein system similar to the Oatman District. The geology of the Tin Cup zone shares similarities of the upper parts of the Oatman gold system. The Secret Pass drilling will target both the upper broad zone of stockwork veining and the deeper, more discreet ‘bonanza' veining.
The drilling at the FM zone will target near-vertical mineralized structures related to the FM fault zone similar to the Tin Cup zone.
Table 1: Tin Cup Phase 1 Drill Holes
Hole No. | Location | Azimuth (o) | Dip (o) | Length (m) | Significant Intersections |
TC21-01 | Tin Cup | - | - | - | Abandoned |
TC21-02 | Tin Cup | 220 | -45 | 175 |
|
TC21-03 | Tin Cup | 220 | -55 | 230 |
|
TC21-04 | Tin Cup | 310 | -50 | 103* |
|
TC21-05 | Tin Cup | 040 | -60 | 102* |
|
TC22-06 | Tin Cup | 220 | -65 | 400 | Fully Permitted - Pending Drilling |
TC22-07 | Tin Cup | 250 | -50 | 250 | Fully Permitted - Pending Drilling |
TC22-08 | Tin Cup | 200 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-01 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-02 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
| Total Completed and Planned | 1,710 | ||||
Note: all intersections have been previously announced and represent downhole widths as insufficient information is available to calculate true widths.
*Drill holes TC21-04 and TC21-05 were terminated early due to technical difficulties.
Figure 1: Drill Locations and Gold Soil Anomalies
Figure 2: Tin Cup Drilling Cross Section and Geological Model
QA/QC Statement
Diamond Core (HQ size) was drilled by Godbe Drilling LLC under the supervision of Mr. Lee Beasley, QP for Northern Lights Resources. The core was split with the half core transported to Skyline Assayers and Laboratories (Skyline) in Tucson, AZ. Field control QA/QC samples, including standards, blanks, and field duplicates, were inserted into the sample stream at a rate of one field control sample every 20 regular samples. Samples received by the lab are logged, weighted and assigned into batches. Sample preparation begins with crushing samples to 75% passing -10 mesh. From this sample, 250 grams of material is separated using a riffle splitter which is then further pulverized to at least 95% - 150 mesh resulting in a pulp that is ready for analysis. Gold was determined by fire assay fusion of a 30 gram sub-samples with atomic absorption spectroscopy (method FA-01). Overlimit samples of gold ( greater than 5 g/t) were assayed by gravimetric means (FA-02). Skyline Laboratories is accredited in accordance with ISO/IEC 17025:2017 and ISO 9001:2015.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new inforAddmation, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources (CSE:NLR) (OTCQB:NLRCF) reports additional high-grade assay results from its third and fourth drill holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona. The 100%-owned Secret Pass Gold Project is located in the Frisco-Catherine Gold district of Northwest Arizona, is approximately 8 kilometers Northeast of Elevation Gold's Moss Mine, a heap leach open pit gold mine currently operating at an average mined grade of 0.45 gt gold. Following the acquisition of an additional 260 hectares in September 2021, the Secret Pass Gold Project now covers approximately 1,128 hectares.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments by Jason Bahnsen, CEO of Northern Lights. The video is available for viewing on " InvestmentPitch.com " and on " YouTube ". If these links are not enabled, please visit www.InvestmentPitch.com and enter "Northern Lights" in the search box.
Northern Lights has completed four diamond core drill-holes, totalling 610 meters, at Tin Cup. All four drill holes intercepted zones of moderate to strong gold mineralization hosted by altered andesite.
Today's results are from Hole TC21-04 and 05. Hole TC21-04 intersected 0.95 g/t gold over 103.00m, starting at surface and including the entire length of the drill hole . This included 2.96 g/t gold over 12.96m starting at 75.59m. Hole TC21-05 Intersected 0.29g/t gold over 60.91m starting at 41.50m, including 0.56 g/t over 24.07m from 78.34m, which also included 4.23 g/t over 0.99m from 101.42m, which was the last meter of the drill hole.
Recently announced assays from Holes TC21-02 and 03 indicate wide zones of near surface gold mineralization are present at Tin Cup. The results from Hole21-03 have been slightly upgraded.
Northern Lights has permits in place to drill 3 additional holes and plans to apply for further drill-hole permits following the analysis of these first 4 holes. The company is also planning to complete a deep penetrating IP survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in defining new drill targets associated with zones of high chargeability located along strike and to depth.
The gold mineralization at Tin Cup is open at depth and has not yet been tested below an average depth of 95 metres. The focus of this initial drill program is to confirm the gold mineralization previously identified by reverse circulation drilling in the 1980s and to provide additional geological information on the style of gold mineralization.
The shares are trading at $0.035. For more information, please visit the company's website, www.NorthernLightsResources.com , contact Rick Timcke, President, at 604-608-6163 or email RTimcke@NorthernLightsResources.com , or contact Jason Bahnsen, CEO, at 604-608-6163 or email jason@NorthernLightsResources.com . For Investor Relations, contact Shawn Balaghi, at 604-773-0242 or email shawn@NorthernLightsResources.com .
Disclaimer
The information in this Investmentpitch Media Ltd video is for the viewers information only. Northern Lights has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
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TSX: SIL | NYSE American: SILV
SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce that the Supreme Court of British Columbia has granted the final order in connection with the Company's plan of arrangement (the "Arrangement") with Coeur Mining, Inc. ("Coeur"), whereby Coeur will, among other things, indirectly acquire all of the issued and outstanding SilverCrest shares. Pursuant to the Arrangement, SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for each SilverCrest common share held.
Subject to obtaining all required approvals and the satisfaction or waiver of all required conditions, the Arrangement is expected to close on or about February 14, 2025 . Following closing of the Arrangement, the SilverCrest shares are expected to be de-listed from the Toronto Stock Exchange and the NYSE American (the " De-Listing "). Following the De-Listing, it is anticipated that SilverCrest will apply to cease to be a reporting issuer under applicable Canadian securities laws and will deregister the SilverCrest shares under the U.S. Securities Exchange Act of 1934 , as amended.
For a more detailed description of the Arrangement, please refer to SilverCrest's management information circular dated January 8, 2025 (the "Circular"), available on SEDAR+ at www.sedarplus.ca , on EDGAR at www.sec.gov , and on SilverCrest's website at www.silvercrestmetals.com/transaction .
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals producer headquartered in Vancouver , BC. The Company's principal focus is its Las Chispas Operation in Sonora , Mexico. Silvercrest has an ongoing initiative to increase its asset base by expanding current resources and reserves, acquiring, discovering, and developing high value precious metals projects and ultimately operating multiple silver-gold mines in the Americas. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
Forward-Looking Statements
This news release contains "forward  -looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. The words "potential", "expected" and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. These include, without limitation, statements with respect to: statements regarding SilverCrest and the combined company's plans and expectations with respect to the proposed Arrangement and the anticipated impact of the proposed Arrangement on the combined company's results of operations, financial position, growth opportunities and competitive position, and the expected timing of completion of the Arrangement.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the risk that any other condition to closing of the Arrangement may not be satisfied; the risk that the closing of the Arrangement might be delayed or not occur at all; the risk that the either Coeur or SilverCrest may terminate the Arrangement Agreement and either Coeur or SilverCrest is required to pay a termination fee to the other party; potential adverse reactions or changes to business or employee relationships of Coeur or SilverCrest, including those resulting from the announcement or completion of the Arrangement; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the operations of Coeur and SilverCrest; the effects of the business combination of Coeur and SilverCrest, including the combined company's future financial condition, results of operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; the risk that Coeur or SilverCrest may not receive the required stock exchange approvals of the Arrangement; the expected listing of shares on the NYSE; the risk of any litigation relating to the proposed Arrangement; the risk of changes in governmental regulations or enforcement practices; the effects of commodity prices, life of mine estimates; the timing and amount of estimated future production; the risks of mining activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Arrangement. Expectations regarding business outlook, including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for the combined company's operations, gold and silver market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.
Additional factors that could cause results to differ materially from those described above can be found in the Circular and SilverCrest's annual information form for the year ended December 31, 2023 , which are filed with the SEC and on SEDAR+ and available from SilverCrest's website at www.silvercrestmetals.com under the "Investors" tab, and in other documents SilverCrest files with the SEC or on SEDAR+. All forward-looking statements speak only as of the date they are made and are based on information available at that time. SilverCrest does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by applicable securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
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SOURCE SilverCrest Metals Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/11/c1572.html
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TSX: SIL | NYSE American: SILV
SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce that the Supreme Court of British Columbia has granted the final order in connection with the Company's plan of arrangement (the "Arrangement") with Coeur Mining, Inc. ("Coeur"), whereby Coeur will, among other things, indirectly acquire all of the issued and outstanding SilverCrest shares. Pursuant to the Arrangement, SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for each SilverCrest common share held.
Subject to obtaining all required approvals and the satisfaction or waiver of all required conditions, the Arrangement is expected to close on or about February 14, 2025 . Following closing of the Arrangement, the SilverCrest shares are expected to be de-listed from the Toronto Stock Exchange and the NYSE American (the " De-Listing "). Following the De-Listing, it is anticipated that SilverCrest will apply to cease to be a reporting issuer under applicable Canadian securities laws and will deregister the SilverCrest shares under the U.S. Securities Exchange Act of 1934 , as amended.
For a more detailed description of the Arrangement, please refer to SilverCrest's management information circular dated January 8, 2025 (the "Circular"), available on SEDAR+ at www.sedarplus.ca , on EDGAR at www.sec.gov , and on SilverCrest's website at www.silvercrestmetals.com/transaction .
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals producer headquartered in Vancouver , BC. The Company's principal focus is its Las Chispas Operation in Sonora , Mexico. Silvercrest has an ongoing initiative to increase its asset base by expanding current resources and reserves, acquiring, discovering, and developing high value precious metals projects and ultimately operating multiple silver-gold mines in the Americas. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
Forward-Looking Statements
This news release contains "forward  -looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. The words "potential", "expected" and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. These include, without limitation, statements with respect to: statements regarding SilverCrest and the combined company's plans and expectations with respect to the proposed Arrangement and the anticipated impact of the proposed Arrangement on the combined company's results of operations, financial position, growth opportunities and competitive position, and the expected timing of completion of the Arrangement.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the risk that any other condition to closing of the Arrangement may not be satisfied; the risk that the closing of the Arrangement might be delayed or not occur at all; the risk that the either Coeur or SilverCrest may terminate the Arrangement Agreement and either Coeur or SilverCrest is required to pay a termination fee to the other party; potential adverse reactions or changes to business or employee relationships of Coeur or SilverCrest, including those resulting from the announcement or completion of the Arrangement; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the operations of Coeur and SilverCrest; the effects of the business combination of Coeur and SilverCrest, including the combined company's future financial condition, results of operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; the risk that Coeur or SilverCrest may not receive the required stock exchange approvals of the Arrangement; the expected listing of shares on the NYSE; the risk of any litigation relating to the proposed Arrangement; the risk of changes in governmental regulations or enforcement practices; the effects of commodity prices, life of mine estimates; the timing and amount of estimated future production; the risks of mining activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Arrangement. Expectations regarding business outlook, including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for the combined company's operations, gold and silver market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.
Additional factors that could cause results to differ materially from those described above can be found in the Circular and SilverCrest's annual information form for the year ended December 31, 2023 , which are filed with the SEC and on SEDAR+ and available from SilverCrest's website at www.silvercrestmetals.com under the "Investors" tab, and in other documents SilverCrest files with the SEC or on SEDAR+. All forward-looking statements speak only as of the date they are made and are based on information available at that time. SilverCrest does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by applicable securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
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SOURCE SilverCrest Metals Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/11/c1572.html
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Subject to the completion of the plan of arrangement between Coeur Mining, Inc. (NYSE: CDE) and SilverCrest Metals Inc. (TSX: SIL) resulting in the combination of the two companies. Each share of SilverCrest Metals will be exchanged for 1.6022 newly issued shares of Coeur Mining.
As a result of closing conditions being met, SilverCrest Metals' shares will be removed from the S&P/TSX Composite Index prior to the open of trading on February 14, 2025 . The shares outstanding of Coeur Mining will be increased at the same time to reflect the issuance of shares.
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 ® and the Dow Jones Industrial Average ® . More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com .
SOURCE S&P Dow Jones Indices LLC.
View original content: http://www.newswire.ca/en/releases/archive/February2025/07/c3775.html
News Provided by Canada Newswire via QuoteMedia
Subject to the completion of the plan of arrangement between Coeur Mining, Inc. (NYSE: CDE) and SilverCrest Metals Inc. (TSX: SIL) resulting in the combination of the two companies. Each share of SilverCrest Metals will be exchanged for 1.6022 newly issued shares of Coeur Mining.
As a result of closing conditions being met, SilverCrest Metals' shares will be removed from the S&P/TSX Composite Index prior to the open of trading on February 14, 2025 . The shares outstanding of Coeur Mining will be increased at the same time to reflect the issuance of shares.
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 ® and the Dow Jones Industrial Average ® . More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com .
SOURCE S&P Dow Jones Indices LLC.
View original content: http://www.newswire.ca/en/releases/archive/February2025/07/c3775.html
News Provided by Canada Newswire via QuoteMedia
Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) provides a Q4 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. A photo gallery presentation accompanies this news release and can be found here or on the Company website at Terronera Project Progress Photos . All dollar ($) references in this news release are in United States dollars.
Substantial progress was achieved on Terronera's Upper Plant Platform during the fourth quarter with systems commissioning underway. Focus continues on the Lower Platform.
"Endeavour Silver's Terronera Project is nearing completion," commented Don Gray, Chief Operating Officer. "Dry commissioning is advancing well on the Upper Platform and we're completing final installations and the last of the punch list items. Our team's efforts are concentrated on timely completion of the Lower Platform where structural steel is advancing to install the tailing filters. We're focused on maintaining our construction schedule and momentum to have Terronera ready for full commissioning in early Q2 2025."
Q4 2024 Construction and Development Highlights
Site works and activities as of December 31, 2024:
Updated Initial Capital Cost
The project team conducted a comprehensive review of the remaining Terronera completion costs. The Company forecasts initial capital costs to be $332 million (see table below). The mining cost increase of approximately $16 million is related to the extended project schedule as well as increased waste rock disposal costs, including hauling, placement at the temporary waste dump and construction of the permanent waste rock dump. Mineral process plant costs, which includes the lower platform and tailing facility construction, are estimated to be approximately $13 million over budget. These costs include additional work for expediting structural steel fabrication, blasting required for lower platform excavation, offsite materials purchased for tailing facility construction, extra work required for supporting the cut above the lower platform elevation and contractor indirect costs. The $2.2 million increase for site infrastructure is related to the additional scope for constructing the mill shop, warehouse and assay/met lab and temporary power generation. Total project indirect costs increased by $29 million, offset with the $8.7 million contingency. Owner costs increased due to additional engineering, construction management, enlarging the camp capacity and adding several administrative support buildings (e.g., offices and training). Project indirect costs increased due to the extended project schedule and a larger workforce, overlapping project construction and completion activities.
| (millions) | 2024 Revised Scenario Initial Capex | 2025 Updated Scenario Initial Capex | Variance | |||
| Mining | $83.80 | $100.20 | $16.40 | |||
| Mineral Processing Plant | $64.80 | $78.00 | $13.20 | |||
| Site Infrastructure | $56.20 | $58.40 | $2.20 | |||
| Total Direct Costs | $204.80 | $236.60 | $31.80 | |||
| Owner Costs | $33.30 | $50.30 | $17.00 | |||
| Project Indirect Costs | $24.20 | $45.10 | $20.90 | |||
| Contingency | $8.70 | - | ($8.70) | |||
| Total Indirect Costs | $66.20 | $95.40 | $29.20 | |||
| Total (Direct & Indirect) | $271.00 | $332.00 | $61.00 | |||
Next Steps and Planning
The Terronera Project is anticipated to begin full system commissioning in early Q2 2025.
For Q1 2025, Upper Platform efforts will focus on installing remaining items, punch list completion, and commissioning. The TSF Main Embankment is anticipated to reach the final 1,198-metre elevation and tailing and concentrate filters will be installed, along with final piping, electrical and instrumentation work. The remaining critical path items are the tailing filter presses, which are expected to be completed by early Q2 2025. The Company plans to provide operational guidance as construction approaches wet commissioning .
Visit www.terronera.com , our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company committed to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, which has helped it achieve its goal of becoming a premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development of the Terronera Project, the anticipated timing of construction steps and commencement of full commissioning at the Terronera Project, the Terronera Project's forecasted operations, costs and expenditures, Endeavour's future operational guidance announcements, and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update forward-looking statements or information other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors that may cause Endeavor's actual results, level of activity, production levels, performance, or achievements, and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; continued compliance with the project loan debt facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and US dollar); and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's mining operations, no material adverse change in the market price of commodities forecasted Terronera mine economics as of 2024, mining operations will operate, and the mining products will be completed under management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, other factors may cause results to be materially different from those anticipated, described, estimated, assessed, or intended. There can be no assurance that any forward-looking statements or information will be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
News Provided by GlobeNewswire via QuoteMedia
Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) provides a Q4 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. A photo gallery presentation accompanies this news release and can be found here or on the Company website at Terronera Project Progress Photos . All dollar ($) references in this news release are in United States dollars.
Substantial progress was achieved on Terronera's Upper Plant Platform during the fourth quarter with systems commissioning underway. Focus continues on the Lower Platform.
"Endeavour Silver's Terronera Project is nearing completion," commented Don Gray, Chief Operating Officer. "Dry commissioning is advancing well on the Upper Platform and we're completing final installations and the last of the punch list items. Our team's efforts are concentrated on timely completion of the Lower Platform where structural steel is advancing to install the tailing filters. We're focused on maintaining our construction schedule and momentum to have Terronera ready for full commissioning in early Q2 2025."
Q4 2024 Construction and Development Highlights
Site works and activities as of December 31, 2024:
Updated Initial Capital Cost
The project team conducted a comprehensive review of the remaining Terronera completion costs. The Company forecasts initial capital costs to be $332 million (see table below). The mining cost increase of approximately $16 million is related to the extended project schedule as well as increased waste rock disposal costs, including hauling, placement at the temporary waste dump and construction of the permanent waste rock dump. Mineral process plant costs, which includes the lower platform and tailing facility construction, are estimated to be approximately $13 million over budget. These costs include additional work for expediting structural steel fabrication, blasting required for lower platform excavation, offsite materials purchased for tailing facility construction, extra work required for supporting the cut above the lower platform elevation and contractor indirect costs. The $2.2 million increase for site infrastructure is related to the additional scope for constructing the mill shop, warehouse and assay/met lab and temporary power generation. Total project indirect costs increased by $29 million, offset with the $8.7 million contingency. Owner costs increased due to additional engineering, construction management, enlarging the camp capacity and adding several administrative support buildings (e.g., offices and training). Project indirect costs increased due to the extended project schedule and a larger workforce, overlapping project construction and completion activities.
| (millions) | 2024 Revised Scenario Initial Capex | 2025 Updated Scenario Initial Capex | Variance | |||
| Mining | $83.80 | $100.20 | $16.40 | |||
| Mineral Processing Plant | $64.80 | $78.00 | $13.20 | |||
| Site Infrastructure | $56.20 | $58.40 | $2.20 | |||
| Total Direct Costs | $204.80 | $236.60 | $31.80 | |||
| Owner Costs | $33.30 | $50.30 | $17.00 | |||
| Project Indirect Costs | $24.20 | $45.10 | $20.90 | |||
| Contingency | $8.70 | - | ($8.70) | |||
| Total Indirect Costs | $66.20 | $95.40 | $29.20 | |||
| Total (Direct & Indirect) | $271.00 | $332.00 | $61.00 | |||
Next Steps and Planning
The Terronera Project is anticipated to begin full system commissioning in early Q2 2025.
For Q1 2025, Upper Platform efforts will focus on installing remaining items, punch list completion, and commissioning. The TSF Main Embankment is anticipated to reach the final 1,198-metre elevation and tailing and concentrate filters will be installed, along with final piping, electrical and instrumentation work. The remaining critical path items are the tailing filter presses, which are expected to be completed by early Q2 2025. The Company plans to provide operational guidance as construction approaches wet commissioning .
Visit www.terronera.com , our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company committed to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, which has helped it achieve its goal of becoming a premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development of the Terronera Project, the anticipated timing of construction steps and commencement of full commissioning at the Terronera Project, the Terronera Project's forecasted operations, costs and expenditures, Endeavour's future operational guidance announcements, and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update forward-looking statements or information other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors that may cause Endeavor's actual results, level of activity, production levels, performance, or achievements, and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; continued compliance with the project loan debt facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and US dollar); and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's mining operations, no material adverse change in the market price of commodities forecasted Terronera mine economics as of 2024, mining operations will operate, and the mining products will be completed under management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, other factors may cause results to be materially different from those anticipated, described, estimated, assessed, or intended. There can be no assurance that any forward-looking statements or information will be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
News Provided by GlobeNewswire via QuoteMedia