Pinnacle Closes Non-Brokered Private Placement and Associated Acquisition of El Potrero Option

Pinnacle Closes Non-Brokered Private Placement and Associated Acquisition of El Potrero Option

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA, February 25, 2025 TheNewswire - (TSXV: PINN, OTC: NRGOF, Frankfurt: X6C) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") announces that, further to the Company's news releases dated October 28, 2024, December 10, 2024, January 29, 2025 and February 24, 2025, it has closed its non-brokered private placement and the associated staged option to acquire up to a 100% interest in the Potrero property in Durango, Mexico (the "Acquisition").  For more information on the Acquisition, please refer to the Company's news release of February 24, 2025.

The Part-and-Parcel private placement was fully subscribed and raised gross proceeds of $800,000, subject to final TSXV approval. The placement consists of 20,000,000 units (the "Units") at a price of $0.04 per Unit, with each Unit comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant"), whereby each whole Warrant shall be convertible into an additional Share at an exercise price of $0.06 for a period of 24 months from the date of issuance. No f inder's fees were paid.

The net proceeds raised from the Financing will be used for exploration and development of the Potrero Project, payment of the back-taxes, and for working capital.

All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.  The securities offered have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Insiders subscribed for an aggregate of 648,500 Units for a total of $25,940.  As insiders of Pinnacle participated in the financing, it is deemed to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61- 101").  Pinnacle is relying on the exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of the Company's market capitalization.  The Company will be filing a material change report in respect of the related party transaction on SEDAR.

Subject to final TSXV approval, it is anticipated that the Company's share will resume trading effective at the open on February 28, 2025.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on district-scale exploration for precious metals in the Americas.  The addition of the high-grade Potrero gold-silver project in Mexico's Sierra Madre Belt will complement the Company's project portfolio and provide the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.

Signed: "Robert A. Archer"

President & CEO

For further information contact :

Email: info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2025 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

PINN:CC
Pinnacle Silver and Gold

Pinnacle Silver and Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Pinnacle Silver and Gold (TSXV:PINN)

Pinnacle Silver and Gold


Keep reading...Show less

District-scale silver-gold exploration and development in the Americas

Pinnacle Issues Shares for Debt

Pinnacle Issues Shares for Debt

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA, June 16, 2025 TheNewswire - (TSXV: PINN, US: NRGOF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") announces that, in order to conserve capital and improve the balance sheet, it has agreed with certain creditors to accept shares in the company in settlement of their debt. The aggregate number of shares to be issued, subject to TSXV approval, is 2,491,667 at a price of $0.06 per share, for settlement of $149,500.00. All securities issued will be subject to a four-month hold period which will expire on the date that is four months and one day from the date of issue.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Pinnacle Reports High-Grade Gold-Silver on Surface and in Underground Workings at El Potrero Project

Pinnacle Reports High-Grade Gold-Silver on Surface and in Underground Workings at El Potrero Project

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA TheNewswire - June 2, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that systematic sampling of the historic underground workings at the Pinos Cuates Mine on the El Potrero property in Durango, Mexico (see Figure 1) has resulted in the definition of a lens of high-grade gold and silver mineralization, with individual samples returning up to 37.3 gt gold (Au) and 346 gt silver (Ag).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Pinnacle Silver and Gold Corp. Announces Participation in THE Mining Investment Event, Quebec City, June 3-5, 2025

Pinnacle Silver and Gold Corp. Announces Participation in THE Mining Investment Event, Quebec City, June 3-5, 2025

Pinnacle Silver and Gold Corp. (TSXV: PINN) (OTC: NRGOF), an Americas-focused silver-gold exploration and development company, is pleased to announce that it will be participating in THE Mining Investment Event, Canada's Only Tier 1 Global Mining Investment Conference©, taking place June 3-5, 2025, at the Quebec Convention Centre, Quebec City, Canada.

Pinnacle Silver and Gold Corp.'s management will be available to meet with investors throughout the three-day conference.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pinnacle Provides Progress Report on Field Work at El Potrero Gold-Silver Project and Grants Incentive Stock Options

Pinnacle Provides Progress Report on Field Work at El Potrero Gold-Silver Project and Grants Incentive Stock Options

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA TheNewswire - April 17, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt: X6C) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to provide an update on progress at the recently acquired high-grade gold-silver El Potrero property in Durango, Mexico (see Pinnacle news releases dated February 24 and 25, 2025 ).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
VIDEO - CEO Clips - Pinnacle Silver & Gold: Advancing a High-Grade Gold & Silver Project in Mexico

VIDEO - CEO Clips - Pinnacle Silver & Gold: Advancing a High-Grade Gold & Silver Project in Mexico

Pinnacle Silver & Gold (TSXV: PINN) (OTC Pink: NRGOF Advancing high-grade gold and silver exploration in Mexico, Pinnacle Silver and Gold is focused on revitalizing a past-producing asset in a well-established mining district. With existing infrastructure in place and a strategic plan to restart production within the next few years, the company is positioned to generate near-term cash flow while expanding its resource base for long-term growth.

www.b-tv.com/post/ceo-clips-pinnacle-silver-gold-advancing-a-high-grade-gold-silver-project-in-mexico-btv-60

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Freegold Achieves over 90% Gold Recovery Using BIOX® and greater than 92% Gold Recovery using POX - Additional Metallurgical Work Remains Ongoing

Freegold Achieves over 90% Gold Recovery Using BIOX® and greater than 92% Gold Recovery using POX - Additional Metallurgical Work Remains Ongoing

  • All three methods tested: BIOX®, POX, and the Albion Process â„¢ yield over 90% gold recovery
  • Further work to enhance sulphide recoveries through oxidation, as well as gravity, flotation and CIL recoveries, is in progress

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce further results from the ongoing metallurgical test work currently underway.

Freegold Logo (CNW Group/Freegold Ventures Limited)

The current initiatives are focused on refining the flowsheet options for the pre-feasibility study. This includes testing and ongoing evaluation of sulphide-oxidizing methods such as BIOX®, POX, and the Albion Process™, as well as further gravity, flotation and CIL test work.

Earlier this year, Freegold reported 93% recovery using the Albion Process™ oxidation-CIL, with further test work ongoing.  Comminution tests using half-PQ core have been conducted on over 50 samples from various locations and lithologies within the deposit. These tests provide information to evaluate the trade-off between grind size and liberation versus power consumption, to optimize power requirements and operating costs while enhancing gold recovery.

The BIOX test work has been in progress for several months, and results have shown that gold recovery rates of greater than 90% can be achieved.

2025 PROGRAM

  • Drilling is now underway with three rigs

Conversion of inferred resources into indicated & further exploration drilling.

  • Updated mineral resource
  • Ongoing metallurgical work, focusing on flowsheet optionality with sulphide oxidation is a key part of our strategy to maximize the potential of the resource.
  • Commencement of a Pre-Feasibility Study (PFS)

Summary of Gold Recovery using   BIOX®,

A series of BIOX® amenability oxidation tests have been completed using a sulphide rougher concentrate produced from a composite of Golden Summit material sourced from eight diamond drill hole assay rejects.  The duration of the biological oxidation tests conducted was 10, 15, 20, 30 and a duplicate 30 days.  The residue from these BIOX® tests was subjected to CIL treatment, and overall gold recovery from gravity, rougher flotation, BIOX® treatment, and CIL averaged 91% from this suite of test work.

Summary of Gold Recovery using   POX,

Pressure oxidation (POX) treatment of sulphide rougher concentrate, as well as a cleaner concentrate, with lower mass and only marginally lower gold deportment, has been completed.  The POX residue was washed and neutralized and subjected to CIL leaching for gold recovery.  The POX-CIL testwork has yielded an average overall gold recovery of over 92% in a process flowsheet incorporating gravity, flotation, POX, and CIL.

This testwork utilized eight drill core composites comprising 1,192 meters of drill intercepts that represent 587 continuous mineralized intervals, with a total material weight of over 5,100 kilograms. These composites represent different locations and grades within the Dolphin and Cleary area and were created using continuous drill intervals chosen to reflect potential mill feed (Refer to the map below for hole locations.) The selections of drill holes and intervals included the primary gold-hosting lithologies.  These composites were prepared from laboratory assay rejects of fresh rock intervals located well below the existing oxide cap at Golden Summit.  Additionally, four large-diameter PQ holes were drilled during 2024. A total of 7,600 kg has been made available for comminution testing and ongoing metallurgical testwork.

Two additional PQ holes are being drilled in the 2025 program to enhance our metallurgical test work. This work aims to provide data for trade-off studies in the pre-feasibility study, developing a process flowsheet to maximize economic returns. Ongoing tests indicate that part of the mineralization is non-refractory and can be processed conventionally, although additional sulfide processing is necessary for optimal recovery. The September 2024 resource estimate, based on a gold price of $1,973 , included grinding, gravity separation, flotation, regrinding of sulphide concentrate, and CIL treatment, achieving a 72% gold recovery rate at a processing cost of $14 per ton.

The current program is designed to test sulphide oxidation methods, aiming to increase recoveries beyond the 72% gold recovery reported in the September 2024 resource estimate. Each of the three oxidation methods tested successfully demonstrated the potential to achieve gold recoveries exceeding 90%. These methods may increase costs; however, higher gold recoveries and gold prices could offset the additional capital expenditures (CAPEX) and operating expenditures (OPEX ) costs. Ongoing work will focus on identifying the most suitable oxidation method for use in the pre-feasibility study.

Discovery costs at Golden Summit are under $4.00 per ounce. Since 2020, exploration at Golden Summit has transformed the project, evolving to one of North America's most significant undeveloped gold resources, owing to a revised interpretation, extensive drilling, and a robust metallurgical program. There remains considerable potential for further expansion and optimisation as the project advances. The revised mineral resource estimate, incorporating the 2024 drilling, is expected to be finalised soon.

The current 2025 drilling program aims to upgrade inferred resources to indicated through infill drilling. Drilling for geotechnical purposes, resource definition, and additional metallurgical test holes will also be carried out. A total of 30,000 metres of drilling is planned. Archaeological fieldwork and geotechnical drilling are scheduled to commence shortly, with a fourth drill rig added to enhance exploration efforts. A pre-feasibility study is set to begin later this year.

Link to the Plan Map:

https://freegoldventures.com/site/assets/files/6287/fvl06192025_ddhplan.png

HQ Core is logged, photographed and cut in half using a diamond saw, and one-half placed in sealed bags for preparation and subsequent geochemical analysis by MSA Laboratories in Prince George, BC , and/or Fairbanks, Alaska .  At MSALABS, the entire sample will be dried and crushed to 70% passing -2mm (CRU-CPA). A ~500g riffle split will be analyzed for gold using CHRYSOS PhotonAssay™ (CPA-Au1). From this, 250g will be further riffle split from the original PhotonAssay™ sample, pulverized, and a 0.25g sub-sample analysed for multi-element geochemistry using MSA's IMS230 package, which includes 4-acid digestion and ICP-MS finish. MSALABS operates under ISO/IEC 17025 and ISO 9001 certified quality systems. A QA/QC program includes laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2024 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/19/c8191.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver Crown Royalties Executes LOI with Kuya Silver for a Silver Royalty on the Bethania Silver Project

Silver Crown Royalties Executes LOI with Kuya Silver for a Silver Royalty on the Bethania Silver Project

(TheNewswire)

Silver Crown Royalties

TORONTO, ON TheNewswire - June 19, 2025 Silver Crown Royalties Inc. (" Silver Crown ", " SCRi ", or the " Company ") (Cboe:SCRI; OTCQX:SLCRF; FRA:QS0) is pleased to announce the signing of a Letter of Intent (" LOI ") with Kuya Silver Corp. (CSE: KUYA; OTCQB: KUYAF; FSE: 6MR1) (" Kuya " or " Kuya Silver ") to acquire a 4.5% royalty on silver produced from Kuya's Bethania Silver Mine in Huancavelica, Central Peru.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
RUA GOLD Announces Filing of Prospectus Supplement

RUA GOLD Announces Filing of Prospectus Supplement

Final Short Form Base Shelf Prospectus and Prospectus Supplement are Accessible on SEDAR+

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Pinnacle Silver and Gold

Pinnacle Silver and Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×