Pinnacle Silver and Gold (TSXV:PINN) stands out as a promising precious metals explorer with its strategic focus on high-potential projects in North and South America. The company presents a compelling investment opportunity in the precious metals sector as it continues to advance its existing projects and pursue new opportunities, offering investors an attractive entry point into the dynamic world of silver and gold exploration.
The company is strategically positioned to capitalize on the growing demand for these valuable resources driven by several key factors including a robust pipeline of projects at various stages of exploration and development and effective capital management practices.
El Potrero lies within 35 km of four operating mines, including the 4,000 tons-per-day (tpd) Ciénega mine by Fresnillo, Luca Mining’s 1,000 tpd Tahuehueto mine, and the 250 tpd Topia mine owned by Guanajuato Silver. The El Potrero property had undergone small-scale production from 1989 to 1990 and contains a 100 tpd plant that can be refurbished/rebuilt at relatively low cost.
This Pinnacle Silver and Gold profile is part of a paid investor education campaign.*
Click here to connect with Pinnacle Silver and Gold (TSXV:PINN) to receive an Investor Presentation
Pinnacle Silver and Gold presents a compelling investment opportunity in the precious metals sector as it continues to advance its existing projects and pursue new opportunities, offering investors an attractive entry point into the dynamic world of silver and gold exploration.
Pinnacle Silver and Gold (TSXV:PINN) stands out as a promising player in the precious metals exploration sector. With its strategic focus on high-potential projects, commitment to responsible mining practices, and experienced leadership team, the company is well-positioned for growth.
As an exploration company focused on silver and gold projects in the Americas, Pinnacle is strategically positioned to capitalize on the growing demand for these valuable resources. The company's investment appeal stems from several key factors:
The company’s business strategy involves the acquisition of past-producing mines that can be put back into production quickly to generate cash flow. By focusing on high-grade, underground mines, Pinnacle can leverage low capex, a smaller operational footprint, easier and faster permitting process and protection against metal price volatility. At the same time, the company conducts brownfield exploration for resource expansion, increasing its potential for district-scale discovery.
Pinnacle's emphasis on creating shareholder value is evident in its approach to project selection and development. The company's portfolio is carefully curated to balance near-term production potential with long-term growth prospects, offering investors exposure to both immediate returns and future upside.
The 100 percent owned Argosy Gold Mine project is located in the northern part of the Birch-Uchi Greenstone Belt of the Superior Province of the Precambrian Shield, and just 10 km northwest of First Mining Gold’s Springpole deposit, which contains 4.7 million ounces of gold in the indicated category. The Birch-Uchi Belt lies between the prolific Red Lake and Pickle Lake Greenstone Belts and contains similar geology. Located 110 kilometres east-northeast of Red Lake, the property hosts the most significant past-producing gold mine in the Birch-Uchi Belt, with 101,875 oz of gold produced at 12.7 grams per ton (g/t) between 1931 and 1952.
Diamond drilling in October 2002 by a previous operator confirmed the extension of the gold mineralization below the old workings with intercepts of 11.75 g/t over 1.55 m and 14.39 g/t over 0.7 m on the Number 2 Vein, 100 m below the old mine development. Additional intercepts of 14.67 g/t over 1.7 m on the Number 3 Vein, and 12.02 g/t over 1.29 m on the Number 8 Vein highlight the potential to build resources on parallel, un-mined veins.
There is exceptional exploration potential on the property and the company is actively expanding its exploration efforts to delineate the full extent of the mineralization.
The 3,850 hectare, 100 percent owned North Birch gold project lies in the northwestern corner of the Birch-Uchi Greenstone Belt in the Red Lake mining division of northwestern Ontario, roughly 110 km northeast of the town of Red Lake. The Birch-Uchi Belt is considered to have similar geology to the Red Lake Belt but has seen less exploration and is about three times larger. The North Birch project covers a geological setting identified from airborne magnetic surveys and interpreted as a favorable environment for gold mineralization. The property covers an intensely folded and sheared iron formation similar in appearance to the one hosting Newmont Goldcorp’s Musselwhite Mine (past production, reserves and resources exceed 8 million ounces of gold), some 190 kilometers to the northeast. In addition, the stratigraphy underlying the bulk of both properties is interpreted as Cycle I volcanics, which are thought by some workers to be equivalent to the Balmer Assemblage, host of the prolific Campbell/Red Lake gold orebody (more than 20 million ounces of gold in past production and reserves) in the adjacent Red Lake Greenstone Belt.
Located about 4 km from the Argosy Gold Mine, North Birch has undergone minimal previous exploration, making it a largely grassroots prospect. The property covers an interpreted geological setting that is considered to be highly prospective for both iron formation hosted and high-grade quartz vein hosted gold mineralization.
In a strategic move to diversify its portfolio, Pinnacle has signed a letter of intent for an option to acquire a high-grade El Potrero gold-silver project in the Sierra Madre Trend of Mexico. This expansion underscores the company's commitment to growth and its ability to identify and secure promising opportunities in key mining jurisdictions.
El Potrero lies within 35 km of four operating mines, including the 4,000 tons-per-day (tpd) Ciénega mine by Fresnillo, Luca Mining’s 1,000 tpd Tahuehueto mine, and the 250 tpd Topia mine owned by Guanajuato Silver. The El Potrero property had undergone small-scale production from 1989 to 1990 and contains a 100 tpd plant that can be refurbished/rebuilt at relatively low cost.
The property hosts a 4 km strike length of a northwest-southeast trending epithermal vein system with high-grade gold and silver mineralization. The veins are brecciated and hosted in andesitic volcanics of the Tertiary Lower Volcanic Series near the contact with the overlying Upper Volcanic Series. Multiple small mines, accessible by adits into the side of the hill, exist along the system and some have been exploited in the 1980’s and possibly before. Vein widths are reported to be in the 0.5 to 10 meter range. Vein textures indicate the mines may be sitting fairly high in the epithermal system implying good potential to extend the mineralization to depth.
Under the terms of the agreement, Pinnacle will earn an initial 50 percent interest immediately upon commencing production. The goal would then be to generate sufficient cash flow with which to further develop the project and increase the company’s ownership to 100 percent subject to a 2 percent NSR. If successful, this approach would be less dilutive for shareholders than relying on the still challenging equity markets to finance the growth of the company.
Robert Archer has more than 40 years’ experience in the mining industry, working throughout the Americas. After spending more than 15 years with major mining companies, Archer held several senior management positions in the junior mining sector and co-founded Great Panther Mining, a mid-tier precious metals producer, where he served as president and CEO from 2004 to 2017 and director until 2020. He joined Pinnacle as a director in March 2018 followed by his appointment as CEO in January 2019 and president in October 2021. Archer is a professional geologist and holds an Honours BSc from Laurentian University in Sudbury, Ontario.
David Cross is a CPA and CGA with over 21 years’ experience in the junior sector with a focus on finance and corporate governance. He is currently a partner of Cross Davis and Company LLP Chartered Professional Accountant, which specializes in accounting and management services for private and publicly listed companies within the mining industry, and has recently been appointed CFO of Ashburton Ventures.
Colin Jones is principal consultant for Orimco Resource Investment Advisors in Perth, Australia. He has almost 40 years’ experience as a mining, exploration and consulting geologist in a number of different geological environments on all continents. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Jones holds a Bachelor of Science (Earth Sciences) degree from Massey University, NZ.
David Salari has worldwide experience in the design, construction and operation of extractive metallurgical plants. He is an engineer with more than 35 years of experience in the mining and mineral processing field. He is currently the president and CEO of DENM Engineering.
Ron Schmitz is the principal and president of ASI Accounting Services, providing administrative, accounting and office services to public and private companies since July 1995. Schmitz has served as a director and/or chief financial officer of various public companies since 1997, and currently holds these positions with various public and private companies.
District-scale silver-gold exploration and development in the Americas
(TheNewswire)
 | |||||||||
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 ).
Phase I field work commenced within a week of signing the Definitive Agreement and is progressing well. Â Surface mapping has extended the vein system along strike to the northwest for approximately 1,100 metres from the Dos de Mayo Mine and 46 samples have been taken for analyses. Â Cleaning of the underground workings at the historic Pinos Cuates, La Dura and Dos de Mayo Mines has been completed, and the Pinos Cuates Mine has been mapped and sampled, with 86 samples being taken of the vein system as it is exposed underground. Â All 132 samples have been submitted to the SGS lab in Durango City.
In addition, access roads to the project and up to the mine portals have been cleared. Â The plant has been almost completely cleaned up, and an inspection is being planned to assess the approximate cost and schedule to get it ready for production again.
"We are very pleased with the progress our team has been making on site in the short time we have been on the property," stated Robert Archer, Pinnacle's President & CEO. Â "Our geological crew has established themselves in the nearby village of Manzanillas, only three kilometres away and we are already providing much needed jobs for the local people. Â As such, community relations are starting out on a positive note. Â Having said that, the plant and mines sit on private property such that permitting should be easier when the time comes. Â Going forward, underground mapping and sampling at the historic La Dura and Dos de Mayo mines will continue and surface mapping will focus on the southeastern extension of the vein system and identifying parallel or splay veins along the entire strike length."
Surface mapping to date has identified the dominant lithologies as comprising an andesitic volcanic sequence with alternating flows and breccias. Â The units belong to the upper part of the Lower Volcanic Series, the preferred and most common host for gold and silver mineralization in the Sierra Madre Belt. Â There is a strong northwest-southeast structural trend hosting the vein system at El Potrero that parallels the regional trend of the Sierra Madre. Â To date, several sub-parallel veins have been identified on the southwest side of the Pinos Cuates mine, indicating that the vein system is at least 125 metres wide at this locality. Â Vein widths have been measured as ranging from 0.50 metres on surface up to 7 metres underground at Pinos Cuates.
Most of the samples taken at the historic Pinos Cuates Mine consist of vein breccia with angular clasts of variable composition, clasts of colloform quartz, chalcedonic quartz, and bands of opaque quartz with a black mineral, thought to be ginguro (very fine grained silver-gold mineralization). Â The footwall rocks are andesite with strong chlorite-pyrite alteration, whereas a felsic dike with porphyritic texture has been observed in the hanging wall of the veins both underground and on surface, implying a long and active period of hydrothermal activity.
Figure 1: Regional location map of the Potrero Project, Durango, Mexico
Click Image To View Full Size
Figure 2: Preliminary geology of the Potrero Project showing vein projections and historic mines
As reported in Pinnacle news release of March 18, 2025 , preliminary sampling of mineralized veins containing ginguro bands at Pinos Cuates returned an arithmetic average from four chip channel samples of 8.04 g/t gold (Au) and 146 g/t silver (Ag) ( chip samples, by their nature, are selected samples and may not represent a true reflection of actual grade) , consistent with the historic production grades reported by the vendors, and the historic resource estimate of 45,561 tonnes at 8.0 g/t Au and 186 g/t Ag . These resources are historical in nature and Pinnacle is not treating these estimates as current mineral resources as a qualified person on behalf of Pinnacle has not done sufficient work to classify them as current mineral resources.
Click Image To View Full Size
 Figure 3: Longitudinal section, looking southwest, of underground workings at the Potrero Project.
Once assays are received (approximately 3 weeks), results will be interpreted in the context of the mapping in order to determine the structural controls on gold-silver mineralization, as the highest grades tend to occur in ‘shoots'.  Once these are better defined, a diamond drilling program can be planned to systematically test these areas for continuity.
Preliminary discussions are underway with geophysical contractors regarding the flying of a LiDAR (Light Detection and Ranging) survey over the entire property.  LiDAR is a remote-sensing and laser technology that ‘sees' through overburden and maps out the rock subsurface in a way that allows for the interpretation of structural features that can be important in controlling gold-silver mineralization.  This interpretation will also be used in the planning of upcoming drill programs.
In due course, discussions will be held with the federal electrical commission to extend the power line to the plant site, a distance of only about three kilometres.
Pinnacle has granted an aggregate of 500,000 incentive stock options to certain consultants of the Company, pursuant to the Company's Stock Option Plan and subject to TSXV approval, at a price of $0.05 and expiring on April 17, 2030. Â The incentive stock options will vest 25% each quarter over a 12-month period.
QA/QC
The technical results contained in this news release have been reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Â Pinnacle has implemented industry standard practices for sample preparation, security and analysis given the stage of the Project. Â This has included common industry QA/QC procedures to monitor the quality of the assay database, including inserting certified reference material samples and blank samples into sample batches on a predetermined frequency basis.
The non-systematic chip channel sampling was completed across exposed mineralized structures using a hammer and maul. Â The protocol for sample lengths established that they were not longer than two metres or shorter than 0.3 metres. Â The veins tend to be steeply dipping to vertical, and so these samples are reasonably close to representing the true widths of the structures. Â Samples were collected along the structural strike or oblique to the main structural trend.
All samples were bagged in pre-numbered plastic bags; each bag had a numbered tag inside and were tied off with adhesive tape and then bulk bagged in rice bags in batches not to exceed 40 kg. Â They were then numbered, and batch bags were tied off with plastic ties and delivered directly to the SGS laboratory facility in Durango, Mexico for preparation and analysis. Â The lab is accredited to ISO/IEC 17025:2017. Â All Samples were delivered in person by the contract geologist who conducted the sampling under the supervision of the QP.
SGS sample preparation code G_PRP89 including weight determination, crushing, drying, splitting, and pulverizing was used following industry best practices where all samples were crushed to 75% less than 2 mm, riffle split off 250 g, pulverized split to >85% passing 75 microns (μm).  All samples were analyzed for gold using code GA_FAA30V5 with a Fire Assay determination on 30g samples with an Atomic Absorption Spectography finish.  An ICP-OES analysis package (Inductively Coupled Plasma - Optical Emission Spectrometry) including 33 elements and 4-acid digestion was performed (code GE_ICP40Q12) to determine Ag, Zn, Pb, Cu and other elements.
Qualified Person
Mr. Jorge Ortega, P. Geo, a Qualified Person, and independent from Pinnacle, as defined by National Instrument 43-101, and the author of the NI 43-101 Technical Report for the Potrero Project, has reviewed, verified and approved for disclosure the technical information contained in this news release.
About the Potrero Property
El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).
High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length. Â A historic resource based upon underground sampling of those three mines is reported to consist of 45,561 tonnes at 8.0 g/t gold and 186 g/t silver. The property has been in private hands for almost 40 years and has never been drilled or explored by modern methods, leaving significant exploration potential.
A 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres. Â Surface rights over the plant and mine area are privately owned (no community issues).
Pinnacle will earn an initial 50% interest immediately upon commencing production. Â The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company's ownership to 100% subject to a 2% NSR. Â If successful, this approach would be less dilutive for shareholders than relying on the still challenging equity markets to finance the growth of the Company.
 About Pinnacle Silver and Gold Corp.
Pinnacle is focused on district-scale exploration for precious metals in the Americas. Â The addition of the high-grade Potrero gold-silver project in Mexico's Sierra Madre Belt complements the Company's project portfolio and provides 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.: Â +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
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.
Pinnacle Silver & Gold (TSXV: PINN) (OTC Pink: NRGOF)
https://pinnaclesilverandgold.com/
About BTV - Business Television:
For over 25 years, BTV has been a capital markets focused TV production and Digital Marketing Agency. BTV helps companies increase their brand awareness to a national retail and institutional investor audience, combining unique content creation and major distribution services on top tier networks including Bloomberg, CNBC, FOX Business News and financial sites. The BTV suite of strategic products include: BTV- Business Television Show, CEO Clipsâ„¢, TV Branding Ads, Digital, Lead Gen, Social and Direct Email Marketing Campaigns that reach investors where they research and live on-air and online.
Discover Investment Opportunities!
About CEO Clips:
CEO Clips - are short company video profiles broadcast to a large audience of investors on TV and 15+ financial sites including Reuters, Yahoo!Finance, and Wall Street Journal.
Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246367
News Provided by Newsfile via QuoteMedia
(TheNewswire)
 | |||||||||
VANCOUVER, BRITISH COLUMBIA, March 18, 2025 TheNewswire - (TSXV: PINN, OTC: NRGOF, Frankfurt: X6C) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to provide further details on the preliminary underground sampling program that was conducted as part of the due diligence work on the recently acquired high-grade gold-silver El Potrero property in Durango, Mexico (see Pinnacle news releases dated February 24 and 25, 2025). The Company also announces that Phase I field work has commenced on the project.
Preliminary sampling of mineralized veins containing grey-black ginguro bands (very fine grained silver-gold mineralization) in the Pinos Cuates Mine returned an arithmetic average from four chip channel samples (see Table 1 below) of 8.04 g/t gold (Au) and 146 g/t silver (Ag) (9.70 g/t Au Equivalent or 853 g/t Ag Equivalent 1 ), consistent with the historic production grades reported verbally by the vendors, and the historic resource estimate of 45,561 tonnes at 8.0 g/t Au and 186 g/t Ag (10.1 g/t Au Eq or 890 g/t Ag Eq 1 ). These resources are historical in nature and Pinnacle is not treating these estimates as current mineral resources as a qualified person on behalf of Pinnacle has not done sufficient work to classify them as current mineral resources.
Table 1: Mineralized Samples from the Pinos Cuates Mine
Sample Length (metres) | Gold (g/t) | Silver (g/t) | Gold Equivalent (g/t) 1 | Silver Equivalent (g/t) 1 |
0.9 | 9.32 | 254 | 12.21 | 1,074 |
0.8 | 8.21 | 153 | 9.95 | 875 |
1.4 | 7.92 | 63 | 8.64 | 760 |
0.3 | 6.71 | 113 | 7.99 | 703 |
1 Gold and silver equivalents calculated using a gold:silver price ratio of 88 (i.e. 88 g/t silver = 1 g/t gold). The metal prices used to determine the 88:1 ratio are the closing spot prices in New York on March 14, 2025: US$2,983.30/oz gold and US$33.765/oz silver.
"Having just recently closed the acquisition of the staged option on the Potrero Property, we are wasting no time in ‘hitting the ground running' on this exciting project," stated Robert Archer, Pinnacle's President & CEO. "Not only did our due diligence sampling confirm the high-grade nature of the gold-silver mineralization, but the historic workings stretching over a 500 metre strike length and the absence of any drilling or other modern exploration implies significant potential for resource development on a strong epithermal vein system. Furthermore, we will immediately commence cleaning the processing plant in order to put together a budget and schedule to make it operational once again."
As part of Pinnacle's due diligence on the property, non-systematic sampling of the main exposed structures in underground workings at the Dos de Mayo, Pinos Cuates and La Dura historic mines was undertaken during two visits in October and December of 2024 (see Figure 1). The lack of any detailed surface or underground maps and the general inaccessibility of most of the old stopes containing the mineralization underground led to the non-systematic nature of the sampling. Vein exposures underground were typically less than two metres, thereby limiting the width of the veins that could be sampled. As such, professional mining contractors are being brought in to render these areas safe for a more systematic sampling program.
Click Image To View Full Size
Figure 1: Longitudinal section, looking southwest, of underground workings and vein projections at the Potrero Project.
Assays from the first visit indicated that the vein system is clearly gold- and silver-bearing, while the second visit allowed for the more precise identification of mineralized zones within the veins, particularly in the Pinos Cuates workings where an ‘upper' level, approximately 10 metres above the previous visit, was examined and sampled, yielding the results in Table 1 above. Values in the 35 underground samples ranged from 0.047 to 9.32 g/t Au and
Following the cleaning of the underground workings, the vein system will be surveyed, mapped and systematically sampled in order to determine the structural controls on gold-silver mineralization as the highest grades tend to occur in ‘shoots'. Once these are better defined, a diamond drilling program can be planned to systematically test these areas for continuity. As no drilling has been conducted previously, the vein system is open in all directions.
While the underground workings are being rehabilitated, surface mapping will get underway to trace out the vein system and gain a better understanding of the geological setting. Initially, this work will focus on the area above the historic mines then work out along strike to the northwest and southeast. From observations made during the due diligence period, the veins appear to splay along strike and several parallel veins exist both on the property and on neighbouring ground, suggesting that the system may be more extensive than initially realized.
Given the importance of structure in these types of vein systems, a LiDAR (Light Detection and Ranging) survey is being planned for the entire property. LiDAR is a remote-sensing and laser technology that ‘sees' through overburden and maps out the rock subsurface in a way that allows for the interpretation of structural features that can be important in controlling gold-silver mineralization. This interpretation will also be used in the planning of upcoming drill programs.
Roads on the property are being rehabilitated and the campsite will be cleaned and rebuilt. In due course, discussions will be held with the federal electrical commission to extend the power line to the plant site, a distance of only about three kilometres.
QA/QC
The assay results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Pinnacle has implemented industry standard practices for sample preparation, security and analysis given the stage of the Project. This has included common industry QA/QC procedures to monitor the quality of the assay database, including inserting certified reference material samples and blank samples into sample batches on a predetermined frequency basis.
Non-systematic chip channel sampling was completed across the exposed mineralized structures using a hammer and maul. The protocol for sample lengths established that they were not longer than two metres or shorter than 0.3 metres. The veins tend to be steeply dipping to vertical, and so these samples are reasonably close to representing the true widths of the structures. Samples were collected along the structural strike or oblique to the main structural trend.
All samples were bagged in pre-numbered plastic bags; each bag had a numbered tag inside and were tied off with adhesive tape and then bulk bagged in rice bags in batches not to exceed 40 kg. They were then numbered, and batch bags were tied off with plastic ties and delivered directly to the SGS laboratory facility in Durango, Mexico for preparation and analysis. The lab is accredited to ISO/IEC 17025:2017. All Samples were delivered in person by the contract geologist who conducted the sampling under the supervision of the QP.
SGS sample preparation code G_PRP89 including weight determination, crushing, drying, splitting, and pulverizing was used following industry best practices where all samples were crushed to 75% less than 2 mm, riffle split off 250 g, pulverized split to >85% passing 75 microns (μm). All samples were analyzed for gold using code GA_FAA30V5 with a Fire Assay determination on 30g samples with an Atomic Absorption Spectography finish. An ICP-OES analysis package (Inductively Coupled Plasma - Optical Emission Spectrometry) including 33 elements and 4-acid digestion was performed (code GE_ICP40Q12) to determine Ag, Zn, Pb, Cu and other elements.
Qualified Person
Mr. Jorge Ortega, P. Geo, a Qualified Person, and independent from Pinnacle, as defined by National Instrument 43-101, and the author of the NI 43-101 Technical Report for the Potrero Project, has reviewed, verified and approved for disclosure the technical information contained in this news release.
About the Potrero Property
El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).
High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length. A historic resource based upon underground sampling of those three mines is reported to consist of 45,561 tonnes at 8.0 g/t gold and 186 g/t silver. The property has been in private hands for almost 40 years and has never been drilled or explored by modern methods, leaving significant exploration potential.
A 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres. Surface rights over the plant and mine area are privately owned (no community issues).
Pinnacle will earn an initial 50% interest immediately upon commencing production. The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company's ownership to 100% subject to a 2% NSR. If successful, this approach would be less dilutive for shareholders than relying on the still challenging equity markets to finance the growth of the Company.
 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 complements the Company's project portfolio and provides 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
News Provided by PR Newswire via QuoteMedia
(TheNewswire)
 | |||||||||
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"). Â 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. Â 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"). Â 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. Â 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. Â 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.: Â +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
Azimut Exploration Inc. ("Azimut" or the "Company") ( TSXV:Â AZM ) ( OTCQX:Â AZMTF ) is pleased to report that on May 16, 2025, it has closed its previously announced non-brokered placement with Centerra Gold Inc. ("Centerra") (TSX: CG) (NYSE:Â CGAU) ( see press release of April 28, 2025 ) and has issued 9,935,000 common shares to Centerra for gross proceeds of $5,961,000.
Azimut is also pleased to report that on May 16, 2025, it closed a concurrent non-brokered private placement with the following entities, for additional gross proceeds of $2,751,400:
In total, 14,520,666 common shares of the Company were issued at a price of $0.60 per share for aggregate gross proceeds of $8,712,400 (the "Offering").
Azimut welcomes Centerra as new strategic investor. Centerra now owns approximately 9.9% of the issued and outstanding common shares of the Company.
Azimut believes that the Offering reflects a strong support for the Company's exploration strategy and the quality of its project portfolio, and that the Offering will put the Company in a position to generate and advance quality targets for precious metals and critical minerals. The proceeds from the Offering will be used by Azimut to expand its exploration activities on its wholly owned Wabamisk (gold-antimony) and Elmer (gold-copper)  properties , and for business development and general corporate purposes. Together with the partner-funded exploration planned for the Kukamas (nickel-copper-platinum-palladium) , a significant level of activity is expected over the next 12 months. Refundable tax credits ranging from 22.5% to 45% are anticipated to be recovered on qualified exploration expenditures incurred by the Company.
In connection with the Offering, Azimut has executed an investor rights agreement with Centerra pursuant to which, subject to certain conditions, Centerra will have the right to participate in future equity issuances to maintain its ownership interest in the Company.
Agnico Eagle has subscribed for 833,333 common shares of the Company for gross proceeds $499,999.80 (the "Agnico Offering"). The Agnico Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), due to the fact Agnico Eagle had, prior to the Agnico Offering, beneficial ownership of, or control or direction over, securities of the Company carrying more than 10% of the voting rights attached to all the outstanding voting securities of the Company. The Company is relying on Section 5.5(b) of MI 61-101 for an exemption from the formal valuation requirement under MI 61-101, as the Company is not listed on specified markets. The Company is relying upon the exemptions from the minority shareholder approval requirements pursuant to Section 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the Offering and/or the Agnico Offering exceeds 25% of the Company's market capitalization calculated in accordance with MI 61-101. No formal valuation or other prior valuation has been prepared in respect of the Company. A material change report will be filed by the Company less than 21 days in advance of the closing date of the Agnico Offering as the final details thereof were not settled until shortly prior to the closing of the Agnico Offering and the Company wished to close the Agnico Offering in a timely manner for sound business reasons. Upon closing of the Offering, Agnico Eagle beneficially owned, or exercised control and direction over, an aggregate of 11,034,058 common shares of the Company, representing approximately 11% of its issued and outstanding common shares.
The Offering is subject to the final approval by the TSX Venture Exchange. All securities issued under the Offering will have a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities legislation.
About Centerra
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra owns and operates the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. It also owns exploration and development assets and operates the Molybdenum Business Unit in Canada and the United States.
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As of December 31, 2024, CDPQ's net assets totalled CADÂ 473Â billion. For more information about CDPQ, visit cdpq.com , consult our LinkedIn or Instagram pages, or follow us on X .
About SIDEX
SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ. Its mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province's mineral base, to promote innovation and to encourage new entrepreneurs.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created more than 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 795,374 shareholders. With net assets of $21.7 billion as at November 30, 2024, the Fonds supports nearly 4,000 companies through direct and indirect venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn .
About NQIM
NQ Investissement Minier (NQIM) is a Matagami-based regional investment fund dedicated to mining development in Northern Quebec. The fund offers financial support and strategic expertise to exploration companies, with investments guided by a sustainable and responsible approach, promoting positive spin-offs for local and aboriginal communities.
About Azimut Exploration
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company holds the largest mineral exploration portfolio in Quebec, controlling strategic land positions for gold, copper, nickel and lithium.
The Company's wholly owned flagship project, the Elmer Gold Project , is at the resource stage ( 311,200 oz Indicated and 513,900 oz Inferred using a gold price of US$1,800 per ounce* ) and has a strong exploration upside. Azimut is also advancing the Galinée lithium discovery with its joint venture partner SOQUEM Inc. In addition, significant exploration progress was made in 2024 on the Wabamisk (antimony-gold, lithium), Kukamas (nickel-copper-PGE) and Pilipas (lithium) projects.
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMineâ„¢ expert system) enhanced by extensive exploration know-how. The Company's competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet, with 100.4 million shares issued and outstanding.
Qualified Person
Dr. Jean-Marc Lulin (P.Geo.), Azimut's President and CEO, prepared this press release and approved the scientific and technical information disclosed herein, acting as the Company's qualified person within the meaning of National Instrument 43-101–Standards of Disclosure for Mineral Projects .
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES.
This news release does not constitute an offer of securities for sale in the United States. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933 , as amended, and such securities may not be offered or sold in the United States absent registration in the United States or an applicable exemption from the registration requirements in the United States.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 – Fax: (450) 646-3045
Jonathan Rosset, Vice President Corporate Development
Tel.: (604) 202-7531
info@azimut-exploration.com  www.azimut-exploration.com
___________________________________________________________________________________
* " Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada ", prepared by Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024.
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events related to the Offering. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as "anticipate", "expect", "estimate", "intend", "project", "plan" and "believe". The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There are many factors that could cause such differences, particularly volatility and sensitivity to market metal prices, impact of change in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company's business.
Neither 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.
News Provided by GlobeNewswire via QuoteMedia
Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that it has entered into an option agreement dated May 15, 2025 (the "Option Agreement") with Hudbay Minerals Inc. ("Hudbay") pursuant to which Hudbay has granted Canadian Gold an option to acquire 100% of the Tartan West property (the "Option") that is immediately adjacent to the Company's Tartan Mine (Fig. 1 & 2), near Flin Flon, Manitoba. This Option, if exercised, significantly expands the outlook for the Company as it looks to add additional high-grade gold resources into the future plan to restart the Tartan Mine.
Rationale For Entering into Option Agreement for the Tartan West Property
Exploration Potential:
Potential to Leverage Future Infrastructure Investments Over an Expanded Resource Base, Delivering Enhanced Economies of Scale:
"We are very excited to have been able to work with Hudbay to secure the Option to acquire the Tartan West property. The addition of the Tartan West property would double our land position over the Tartan Shear Zone from 8 to 16 km. We believe the addition of this property would significantly increase the scope and scale of exploration opportunities for the Company. In time, we believe that additional high-grade resources that may be present on this property could deliver significant operational synergies that will bolster the already compelling economics for the restart of the Tartan Mine." - Michael Swistun, CFA, President & CEO of the Company.
Next Steps for Tartan West Project
The Company intends to begin the exploration work at the Tartan West property at the start of the 2025 field season. Initial work will consist of a detailed mapping, prospecting, and sampling program to evaluate and verify the historic high-grade surface showings, which will aid with prioritization of areas for additional work such as trenching, stripping and diamond drilling. The Option Agreement was structured in a way that allows the Company to complete a property-wide review to develop priority drill targets without incurring significant upfront costs.
Terms of the Option Agreement
Under the terms of the Option Agreement and subject to the approval of the TSX Venture Exchange, over a five-year period Canadian Gold will be required to (i) make the following cash and share payments to Hudbay and (ii) make the following work and exploration commitments outlined in Table 1 in order to exercise the Option. Upon exercise of the Option, Canadian Gold will hold a 100% interest in the Tartan West property and Hudbay will also be granted a 2.5% NSR on the Tartan West property. Under the terms of the Option Agreement, certain share payments listed below may be made in cash.
Table 1. Option Terms
| Date | Cash Payments | Share Payments | Work Commitments |
| Upon commencement of the earn-in period | 185,185 | - | |
| 1 Year Anniversary | - | 555,555 | C$100,000 Initial field work program |
| 2 Year Anniversary | - | 1,111,111 | C$250,000 Advanced field work program |
| 3 Year Anniversary | C$150,000 | 1,296,296 | C$800,000 Initial drill program |
| 4 Year Anniversary | C$325,000 | 3,148,148 | C$1,500,000 Secondary drill program |
| 5 Year Anniversary | C$350,000 | 3,703,703 | C$1,700,000 Third drill program |
Â
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Qualified Person and QAQC
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
The Qualified Person has not completed sufficient work to verify the historical data for the Tartan West property, and it remains uncertain whether further exploration will define a mineral resource on the property. The Company has not independently verified the third-party data referenced and cannot guarantee its accuracy or completeness and investors should therefore use caution in placing reliance on such information. However, the Qualified Person believes that the historical drilling and analytical results referenced were completed to industry standard practices. Overall, the information highlights the exploration potential of the Tartan West property but may not reflect actual results.
Historical Exploration References
(1) Spooner, A.J., 1987. Tout Lake Joint Venture Diamond Drilling. Manitoba Mineral Assessment Report 71523. NTS REF. No. 63K-13SW
(2) Spooner, A.J., 1988. Tout Lake Joint Venture Diamond Drilling. Manitoba Mineral Assessment Report 81737. NTS REF. No. 63K-13SW
(3) Spooner, A.J., 1989. Tout Lake Joint Venture Diamond Drilling. Manitoba Mineral Assessment Report 72046. NTS REF. No. 63K-13SW
(4) Historical scanned paper maps on Company database
About Canadian Gold Corp.
Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Mining, holds a 32.9% interest in Canadian Gold.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements including but not limited to the receipt of regulatory approval for the transactions contemplated by the Option Agreement and the exercise of the Option by the Company.
Figure 1. Location of the Tartan West Property.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/252366_8eb885fbb4ae0825_002full.jpg
Figure 2. Location of highlight historic gold occurrences on the Tartan West Property.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/252366_8eb885fbb4ae0825_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252366
News Provided by Newsfile via QuoteMedia
Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) ("Athena" or the "Company") is pleased to report additional results from its 2024 regional prospecting and sampling program at the 100%-owned Excelsior Springs project in Nevada's Walker Lane Trend. The program proved successful in providing new geologic interpretations and defining new, untested zones of prospective mineralization. On the back of this program, the Company expanded its landholdings by approximately 68 hectares.
"One of the drivers behind the Fall 2024 program was to confirm whether prospective ground exists outside the Buster Trend, which to date, has been the main target of focus at Excelsior Springs. We are happy to report the identification of the new Rhino Zone, in addition to the high-grade silver and antimony potential revealed at the Blue Dick Trend. Importantly, both these targets remain untested by the drill bit. We believe a larger-scale program is warranted in order to adequately explore such a target-rich project," stated Koby Kushner, President & CEO of Athena Gold.
Highlights:
Figure 1: Map of the Excelsior Springs project highlighting the various mineralized trends, historic drilling, additional staking, and recent sampling completed by Athena Gold Corporation in November 2024.
Figure 2: Map of the Rhino Zone showing recent sampling, the approximate outline of the Rhino Zone, and the area of newly acquired ground.
A total of 95 surface grab samples were collected during the recent mapping and prospecting program, conducted by Big Rock Exploration in November. Results from the program have highlighted that the Excelsior Springs project is host to various styles of mineralization, lending itself to varying exploration targets ranging from narrow vein, high-grade targets to low-grade, bulk-tonnage targets.
Buster Trend: This target area is host to the vast majority of the historical exploration work at Excelsior Springs to date, with most activity focused on the historic underground Buster Mine, which averaged >40 g/t Au of past production. Drilling at the easternmost extension of this trend returned 5.35 g/t Au over 33.5 m from hole DB-23 in the Western Slope Zone, approximately 400 m east of the historic workings at Buster (refer to the Company's press release dated June 29, 2022).
Ridge Trend: Mineralization in this region has a distinct intrusion-related signature with elevated As-Bi-Mo-Cu-Hg-Te. The Ridge Trend represents a potential low-grade, high-tonnage target. Historic drilling has returned up to 24.4 m at 1.09 g/t Au (GE-14) starting at only 7.6 m below surface (refer to the Company's press release dated Sept 14, 2023).
Rhino Trend: This newly recognized trend has similar characteristics to the Ridge Trend in that it is a low-grade, high-tonnage target with potential for high-grade Au values within the broader target area. No known drilling has been completed in this area, and additional staking has been completed in 2025 to secure the zone.
Blue Dick Trend: The Blue Dick area represents a series of Au-Ag-Cu-Pb-Sb-Zn epithermal vein systems. Several historic workings are documented in the area including the Blue Dick Mine, however no known drilling has been conducted in the area. In November of 2024, Athena returned samples of up to 6,630 g/t Ag, 2.28% Cu, 2.4% Pb, and 1.53% Sb along with 5.1 g/t Au, 212 g/t Ag, 2.4% Pb, and 2.84% Zn (refer to the Company's press release dated January 23, 2025). Recent staking expanded the Blue Dick Trend to capture historical high-grade samples.
QA/QC
Analytical work for rock samples was completed by ALS Laboratories, and sample preparation and geochemical analyses were completed in Elko, Nevada. Samples were crushed before a 250-gram split was pulverized to better than 85%, passing 75 microns. Rock samples were analyzed for gold by fire assay using a 50-gram charge with an atomic absorption spectroscopy finish. If assay results exceed 10.0 g/t gold, the sample rejects are analyzed by 50-gram fire assay with a gravimetric finish. Sampling and analytical procedures are subject to a Quality Assurance and Quality Control program that includes duplicate samples and analytical standards.
Qualified Person
Technical information in this news release has been reviewed and approved by Benjamin Kuzmich, P.Geo., a geoscientist and qualified person for the purposes of National Instrument 43-101.
About Athena Gold Corporation
Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on its projects across North America. Athena's Laird Lake project is situated in the Red Lake Gold District of Ontario, covering over 4,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold's Madsen mine and 34 km northwest of Kinross Gold's Great Bear project. Meanwhile, its Excelsior Springs Au-Ag project is located in the prolific Walker Lane Trend in Nevada. Excelsior Springs spans over 1,500 hectares and covers at least three historic mines along the Palmetto Mountain trend, where the Company is following up on a recent shallow oxide gold discovery, with drill results including 5.35 g/t Au over 33.5 m.
For further information about Athena Gold Corporation, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
Koby Kushner
President and Chief Executive Officer
For further information, please contact:
Athena Gold Corporation
Koby Kushner, President and Chief Executive Officer
Phone: 416-846-6164
Email: kobykushner@athenagoldcorp.com
CHF Capital Markets
Cathy Hume, Chief Executive Officer
Phone: 416-868-1079 x 251
Email: cathy@chfir.com
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", ''plans", "may", "should", ''potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various risk factors as disclosed in the final long form prospectus of the Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise stated.
