Quimbaya Gold’s strategic focus on Colombia offers a compelling opportunity for gold exploration in a prolific, yet underexplored region supported by a favorable permitting environment. The upside potential is worthy of examination by any savvy investor.
Quimbaya Gold (CSE:QIM) is a junior gold exploration company focused on its high-grade gold projects in Colombia. The company’s portfolio spans 59,057 hectares across three highly prospective regions in the Antioquia mining district. This region is responsible for approximately 50 percent of Colombia’s total gold production, equivalent to around 1 million ounces (Moz) annually.
Positioned right next to Aris Mining’s (TSX:ARIS) Segovia mine, Quimbaya leverages its proximity to established infrastructure and gold-rich geological formations. With Colombia being one of the most underexplored yet top mining jurisdictions in South America, Quimbaya’s projects are uniquely poised for significant discoveries.
Quimbaya’s projects benefit from Colombia’s favorable permitting environment, enabling faster transitions from discovery to production, compared to its global peers. Quimbaya’s strategy focuses on value creation through new discoveries and monetizing them via strategic transactions, including joint ventures and operational contracts.
Quimbaya has established a significant partnership with Independence Drilling, Colombia’s largest drilling company with over 40 years of experience. The agreement secures 100,000 meters of drilling over five years, with Independence Drilling accepting part of its payment in Quimbaya shares. This innovative structure demonstrates strong confidence in Quimbaya’s projects, ensuring cost-effective and efficient drilling operations.
The company’s management team brings extensive and deep expertise in exploration in Colombia, corporate finance and project development. Quimbaya trades on multiple exchanges: CSE (QIM), OTCQB (QIMGF), and FSE (K05).
The Tahami project is located in Segovia, Antioquia, adjacent to Aris Mining’s Segovia mine, one of the highest-grade gold mines in the world. Spanning 17,087 hectares, Tahami’s geology features mesothermal veins with multiple mineralization events underlain by Precambrian metamorphic rocks consolidated within the San Lucas Gneiss unit.
Several vein systems from Aris Mining’s Segovia project, including the Sandra K and El Silencio veins, extend towards Quimbaya’s tenements. Both the Sandra K and El Silencio veins align with structural orientations of known high-grade deposits. The project also boasts more than 25 historical artisanal mines, underscoring its prospectively.
Quimbaya’s exploration plan for Tahami involves leveraging advanced geochemical and geophysical surveys to generate drill targets. These efforts will be complemented by modern 3D geological modelling and an initial drilling campaign to test high-grade zones. The integration of historical data and cutting-edge technology positions Tahami as a prime asset for discovery. The initial drilling campaign is anticipated to commence by late Q2 of 2025 and will prioritize the high-grade targets identified in preliminary exploration work.
Located in Abejorral, Antioquia, 80 kilometers south of Medellín, the Maitamac project spans 33,223 hectares and offers excellent road access. This emerging gold metallogenic district features mesothermal veins and potential porphyry gold-copper systems.
Initial surface rock samples have reported gold grades of up to 3.2 g/t, with stream sediments revealing over 1 g/t gold. Identified as a promising district by the Colombian Geological Services, Maitamac is positioned alongside the past producing ABE project and structural corridor which has produced mined shoots averaging 26 g/t gold.
Alexandre Boivin is an entrepreneur with more than 10 years of experience in corporate finance and Colombian mining. Through his extensive experience in the mining industry, corporate finance, capital markets and business development, Boivin has been instrumental in managing and funding early-stage companies through a network of partners and investors immersed in the capital markets. Under his leadership, Quimbaya Gold has secured significant investments to advance its exploration projects. His commitment to the company's growth is further demonstrated by his substantial shareholding in Quimbaya Gold.
Olivier Berthiaume is an accountant with over 12 years of experience working with early-stage companies in the Canadian markets. He holds a Bachelor of Business Administration from HEC Montreal and specializes in private-to-public market transactions, compliance, corporate governance, and corporate growth strategies. Berthiaume has held various director and officer positions in junior mining companies.
Ricardo Sierra is a professional economic Geologist with over 18 years of exploration experience in Colombia-Chile-Cuba-Brazil in orogenic, mesothermal, porphyry type deposits, epithermal systems, and stratabound. Sierra started his career with ANGLO AMERICAN as an exploration geologist in greenfield and brownfield exploration, supervising diamond drilling on their Colombian properties. His knowledge in vein systems, critical in understanding mineralization processes, was honed while exploration superintendent with Continental Gold (now Zijin Mining Group) on their Buritica (Antioquia) deposit, also in their regional exploration (Choco, Nariño, Cauca, Antioquia). Sierra graduated in 2007 as a geologist from Universidad de Caldas (Colombia). He is a member of the Australian Institute of Mining and Metallurgy (MAusIMM) and is a qualified person (QP) as defined by National Instrument 43-101, also he is a Competent Person (CP) of Comision Colombiana de Recursos y Reservas Mineras (CCRR).
Stewart Redwood is a distinguished geological consultant with more than 40 years of experience in mineral exploration and economic geology, specializing in epithermal, porphyry and skarn deposits, particularly in Latin America and the Caribbean. His notable achievements include significant discoveries, including the San Cristobal silver-zinc deposit in Bolivia, the Romero gold-copper deposit in the Dominican Republic, and the Antamina copper-zinc project in Peru, recognized as the world's largest copper skarn deposit. Throughout his career, Redwood has held key positions in prominent mining and exploration companies, including as chief geologist Latin America for AngloGold Ashanti, founder president and CEO of GoldQuest Mining, and VP exploration of Colombia Goldfields (which merged with Gran Colombia Gold). He has been instrumental in the success of Gran Colombia Gold’s Marmato project (now owned by Aris Mining), currently an 8.8 Moz deposit in the construction stage.
A Colombian native, with over 28 years of experience focused in the mining district of Antioquia, currently the CEO of MINING BRAIN SAS, Nicolas Lopez, leads this consulting company advising on the implementation, development of sustainable mining projects all over Colombia. Prior to the establishment of his consultancy practice, Lopez spent 12 years as Colombia & Nicaragua's country manager for IAMGOLD, having devoted the previous 10 years with MINEROS SA as head of exploration & geology. Villegas played a pivotal role in major discoveries, including the first porphyry copper-gold deposit in the Colombian middle Cauca belt, known as Titiribi. a significantly rich gold-copper geological region. As a seasoned executive in gold exploration, Villegas holds a geology degree from Universidad de Caldas (Colombia), a Governance in Oil & Mining degree from Oxford University (UK) and he is a Qualified Person (QP).
Terence Ortslan is a seasoned resource executive with over 40 years of experience, having served in advisory capacities across the mining, metals, and fertilizer sectors. He provides guidance on investment and technical aspects of the industry, as well as strategic and policy advice tailored to mining companies. Additionally, Ortslan advises financial institutions on investment decisions, offers direction to international industry organizations, and consults with governments on fiscal and industrial regulations. He also supports universities in enhancing their educational standards and assists corporations with decision-making, boardroom leadership, shareholder value enhancement, and strengthening ES parameters. Ortslan holds a Bachelor of Engineering & Applied Geophysics and an MBA from McGill University.
Unlocking high-grade gold potential in Antioquia, Colombia’s premier mining district
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05), The Next Big Gold Discovery in Columbia, 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.
Quimbaya Gold Inc.'s management will be available to meet with investors throughout the three-day conference.
"We are particularly excited about the global audience that THE Event has attracted, showcasing the best of international mining in Canada. This is a unique chance to engage with industry leaders and innovators, facilitating discussions that will shape the future of our sector. We look forward to seeing many of you there and exploring the possibilities that await us at this prestigious gathering."
Information regarding THE Event, including investor registration details, a list of participating companies, panelists and keynote speakers, as well as a preliminary agenda, can be found at https://www.themininginvestmentevent.com/.
About Quimbaya Gold Inc.
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.
THE Event is by invitation only - Interested investors & issuers, please go here:
https://www.themininginvestmentevent.com/register or contact Jennifer Choi, jchoi@irinc.ca
About: THE Mining Investment Event—Canada's Only Tier 1 Global Mining Investment Conference© is held annually in Québec City, Canada. It is independently sponsored and designed to facilitate privately arranged meetings between mining companies, international investors, and various mining government authorities. The conference provides a platform to hear from some of the most influential thought leaders in the sector.
THE Event is committed to promoting diversity, equality, and sustainability in the mining industry through education and innovation through its unique Student Sponsorship and SHE-Co Initiatives.
Jason Frame
Manager of Communications
1-647-576-7135
jason.frame@quimbayagold.com
News Provided by Newsfile via QuoteMedia
Strategic financing deepens alignment with industry leader as Quimbaya advances drill-ready Colombian gold portfolio
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 5,714,286 units of the Company (each, a "Unit"), at a price of C$0.35 per Unit, to raise gross proceeds of up to approximately C$2,000,000 (the "Offering"), including a lead order of C$500,000 from Mr. Serafino Iacono, an influential figure in Colombian mining, Co-founder of Gran Colombia Gold Corp. (now Aris Mining Corporation) and Executive Chairman of Denarius Metals Corp.
Each Unit will be comprised of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Share at a price of C$0.60 per Share for a period of 36 months from the issuance date of the Offering. The remaining Units issued under the Offering will be limited to other strategic investors with deep experience in Latin American exploration and project development.
"Seeing our hard work over the past few years recognized by industry leaders like Serafino Iacono is a real validation of our strategy and our assets," said Alexandre P. Boivin, CEO of Quimbaya Gold. "With strong exploration results, a drill-ready portfolio, and the right people around the table, we're incredibly excited about what lies ahead, especially as we prepare to kick off drilling at Tahami South. This is a pivotal moment for Quimbaya, and we're just getting started."
Strategic Alignment and Validation
The participation of Mr. Iacono, who played a pivotal role in the revival of the Colombian gold sector, signals high conviction in Quimbaya's assets and leadership. His investment marks a strong endorsement of the Company's solid Portfolio and in particular its drill-ready Tahami Project in the Middle Cauca Belt, one of Colombia's most prolific gold districts.
"I believe Quimbaya is uniquely positioned at the intersection of geology, timing, and leadership. The team is aligned, the land is exceptional, and in this rising gold environment the moment is now," said Mr. Iacono. "I'm excited to support a company that understands what it takes to build a real gold story in Colombia."
The net proceeds raised from the sale of the Units will be used for general exploration expenses and for general working capital purposes. Completion of the Offering is subject to applicable regulatory approvals. All securities issued pursuant to the Offering will be subject to a four-month and one-day hold period in accordance with applicable securities laws. The Offering is expected to close on or about June 6th 2025.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of such securities in any State in which such offer, solicitation or sale would be unlawful.
About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com +1-647-576-7135
Quimbaya Gold Inc.
Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
Follow on Instagram @quimbayagoldinc
Follow on Facebook @quimbayagoldinc
Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements herein include statements and information regarding the Offering, including its timing, intended closing date, intended use of proceeds and intended gross proceeds, any expected issuance of the Units or the Shares and Warrants which comprise them, a commitment by any person to purchase Units pursuant to the Offering, receipt by the Company of any applicable regulatory approval, the future plans for the Company, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company's properties and any results thereof, the strength of the Company's mineral property portfolio, aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Offering as described herein will close on terms materially similar to the terms described herein. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company's mineral properties; an inability to finance the Company; obtaining required permitting on the Company's mineral properties in a timely manner; any adverse changes to the planned operations of the Company's mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company's projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company's ability to comply with environmental, health and safety laws. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253731
News Provided by Newsfile via QuoteMedia
Early-stage exploration results align with proven discovery model in the Segovia district.
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce initial results from the recently initiated field programs at its Tahami South Gold Project in Antioquia, Colombia. Current work includes detailed geological mapping, rock channel sampling, stream sediment surveys, and soil sampling, all designed to refine and prioritize targets ahead of the Company's maiden drill campaign scheduled to commence in Q2 2025 (Figure 1).
The Tahami South Project is located within one of Colombia's most prolific gold-producing regions, the Segovia-Zaragoza belt and sits just 1.8 kilometres northeast of Aris Mining's flagship Segovia operation, which contains over 13.8 million ounces of gold, and continues to host one of the country's most robust resource bases (Historical production 7,962 Moz, M &I resources 3,629 Moz, inferred resource 1,823 Moz; Wilson & Redwood, 2010; De Marc et al., 2023).
Recent surface exploration by Quimbaya Gold has further validated the geological prospectivity of the area, returning high-grade gold values up to Au@ 11.21 g/t & Ag@ 6 g/t for grab rock, and Au@ 1.4 g/t & Ag@ 23.3 g/t for panel rock sample, supported by classic epithermal pathfinder geochemistry and strong structural control (figure 2). Together, these results align closely with known mineralization styles in the district and provide a robust technical foundation for the Company's upcoming drill campaign in Q2 2025 - an initiative aimed at unlocking a potentially significant high-grade vein system along this underexplored extension of the Segovia trend.
Key Technical Highlights
Surface rock sampling at Tahami South returned high-grade gold values up to 11.21 g/t Au, with multiple samples exceeding 1 g/t, supporting the company's thesis of a robust precious metal system at surface. These results were generated from 60 channel and grab samples across 144 hectares of jungle-covered terrain - an early-stage success that underscores the potential of the target area.
In addition to strong gold values, the geochemical suite includes consistently elevated levels of key pathfinder elements such as arsenic (As), antimony (Sb), copper (Cu), lead (Pb), and zinc (Zn) - all characteristic of epithermal to intermediate sulfidation systems found along the Segovia-Zaragoza trend. Select samples also returned anomalous Molybdenum values up to Mo@ 70 ppm, further supporting the potential for structural overprinting or hybrid mineralizing events. Collectively, these signatures reinforce the project's alignment with the geological architecture and mineralization styles that have yielded some of Colombia's most significant gold discoveries.
The company's use of geologic mapping, Lidar, and systematic geochemical sampling follows discovery techniques that, as documented by Dr. Stewart Redwood, have accounted for the majority of significant gold finds in Antioquia over the past 50 years.
This detailed technical groundwork is a deliberate and essential step in Quimbaya's exploration strategy, helping to refine and prioritize the most compelling targets for the Company's upcoming drill campaign in Q2 2025. By advancing this program with precision and discipline, the team is building a stronger foundation for success - one rooted in geological confidence and targeting certainty. These early-stage results not only validate the exploration model but also enhance the Company's conviction in the broader potential of Tahami South as a district-scale, high-grade gold system.
"Tahami South exhibits all the essential hallmarks of a fertile gold system at the reconnaissance stage: strong surface gold grades, well-developed quartz-sulfide veining, and a classic pathfinder suite including arsenic, antimony, lead, and zinc - all within a structural corridor that aligns with known productive trends in Antioquia. These are the types of indicators that have preceded many of Colombia's most significant discoveries. When supported by systematic mapping and geochemistry, as Quimbaya is doing here, such signatures significantly enhance the probability of drilling into a meaningful mineralized system." Dr. Stewart D. Redwood, Economic Geologist & SEG Fellow.
Figure 1. Location map of the Tahami South Project, adjacent to Aris Gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/252946_ab97c95454600a28_002full.jpg
Connecting Structure, Geochemistry and Scale
Exploration at Tahami South is being guided by a disciplined, model-driven approach that integrates structural mapping, geochemical data, and high-resolution topographic analysis to define the structural controls on mineralization. Recent work has outlined a network of northeast- and east-west-trending quartz veins and hydrothermal breccias hosted within andesitic and intrusive rocks - a structural architecture closely aligned with productive corridors in the Segovia district. Lidar interpretation and field mapping have revealed vein exposures and alteration zones that correlate with elevated gold and pathfinder element values, including arsenic (As), antimony (Sb), copper (Cu), lead (Pb), and zinc (Zn). These features, taken together, suggest an intermediate-sulfidation epithermal system with potential for multiple mineralized shoots. The geochemical vectoring - particularly where pathfinder anomalies overlap key structural intersections - is now informing high-priority targets as the Company prepares for its inaugural drill campaign. The scale and coherence of these features suggest the potential for a significant mineralized system emerging within an underexplored extension of the Segovia trend.
"Everything we're seeing tells us we may be sitting on something significant, and that's why we're taking a disciplined and methodical approach. When you test a system like this for the first time, it is very important to get everything right, and this foundation gives us strong conviction heading into our upcoming drill campaign, and we're excited about what's ahead."
Alexandre P. Boivin, President & CEO, Quimbaya Gold Inc.
Figure 2. Anomalous Gold values for rock, soils and stream sediments.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/252946_ab97c95454600a28_003full.jpg
Qualified Person statement - Ricardo Sierra BSc. Geology, MAusIMM (3078246)
Quimbaya's disclosure of technical and scientific information in this press release has been reviewed and approved by Ricardo Sierra (AusIMM), the Vice President of Exploration for the company, who serves as a Qualified Person under the definition of National Instrument NI-43 101.
About the Tahami South Project
Tahami South is a 2,023-hectare gold exploration project located in the Segovia Zaragoza mining district of Antioquia, Colombia, one of the country's most prolific gold belts. The project lies just 1.8 kilometres northeast of Aris Mining's Segovia operation and is centered on a structural corridor known to host high-grade epithermal vein systems. Quimbaya Gold is advancing Tahami South as a high-priority asset with potential for district-scale discovery.
About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com +1-647-576-7135
Quimbaya Gold Inc.
Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
Follow on Instagram @quimbayagoldinc
Follow on Facebook @quimbayagoldinc
Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to: any increased liquidity of the Company's stock through the additional listing or increased European investment / exposer. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252946
News Provided by Newsfile via QuoteMedia
Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has signed a binding Letter of Intent with Quimbaya Gold Inc. ("Quimbaya") (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) establishing a 5050 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya's Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia, adjacent to the high-grade Segovia Operations owned by Aris Mining Corporation ("Aris Mining").
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We see this joint venture with Quimbaya as an opportunity to leverage our team's considerable experience in exploration, mining and community relations in Colombia, particularly in the Segovia Gold District where we founded Gran Colombia Gold (now Aris Mining) and built the Segovia Operations into the largest underground gold producer in Colombia and one of the highest-grade underground gold producers globally. We are excited about the opportunity to develop near-term production and cash flow through the implementation of a formalized artisanal mining operation in partnership with Quimbaya and the local community."
This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities in the Tahami Project. Importantly, this initiative complements Quimbaya's ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement for the joint venture as soon as possible, subject to customary regulatory and corporate approvals. Key aspects of the joint venture include:
About the Tahami Project
Located directly adjacent to and on trend with Aris Mining's flagship Segovia Operations, the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the Segovia-Remedios Mining District, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction and a strong tradition of gold production. Over 150 artisanal miners are actively producing gold on Quimbaya's assets daily and over 25 historical mines have been identified within its assets.
Refer to Attachments 1, 2 and 3 for maps showing the location of the Tahami Project.
About Quimbaya
Quimbaya is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia's prolific mining districts. Quimbaya is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".
In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin.
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including the finalization of definitive agreement for the joint venture with Quimbaya and receipt of regulatory and corporate approvals. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
Attachment 1: General Location Map of the Tahami Project in the Segovia Gold District of Antioquia, Colombia
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9396/251067_3f22dfd1e4ab187d_001full.jpg
Attachment 2: Location Map of the Tahami South Project, Adjacent to Aris Mining's Segovia Operations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9396/251067_3f22dfd1e4ab187d_002full.jpg
Attachment 3: Location Map of the Tahami North Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9396/251067_3f22dfd1e4ab187d_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251067
News Provided by Newsfile via QuoteMedia
Partnership with Leading Colombian Mining Group to Formalize Artisanal Mining Production and Accelerate Exploration
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce the signing of a binding Letter of Intent with Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF), establishing a 50:50 joint venture aimed at formalizing existing small-scale mining operations located within the Company's Tahami Project, located in the Segovia Gold District of Antioquia, Colombia.
This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities. Importantly, this initiative complements Quimbaya's ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement as soon as possible, subject to customary regulatory and corporate approvals.
Joint Venture Highlights
50:50 Production Partnership: Equal profit sharing between Quimbaya and Denarius (via Zancudo Metals Corp.). Denarius will provide technical and financial support so that the artisanal miners can legalize their production within the mining legalization program.
Joint development targeted on the Tahami South and Tahami North areas within the Tahami Project. Exploitation will focus on concessions SHO-08001, SE9-13331, LJQ-08001 and HHII-21 owned by Quimbaya.
Formalization of Existing Activities: The partnership aims to formalize current artisanal mining operations, aligning with successful models in the region.
Support for Exploration: By formalizing artisanal mining activities, the joint venture enhances community engagement, supporting Quimbaya's ongoing drilling and exploration initiatives.
Upcoming Cash Flow Opportunity: Upon finalizing the definitive agreement, efforts will commence to generate cash flow from the existing small-scale mining operations.
Complementary Strategy: This joint venture complements Quimbaya's exploration objectives, ensuring continued focus on making a high-grade discovery at Tahami.
Figure 1. Location map of the Tahami South Project, adjacent to Aris Gold's Segovia mine.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_001full.jpg
Strategic Importance
This agreement allows Quimbaya to tap into a proven model of success already active in the Segovia-Remedios Mining District ("DMSR" by its initials in Spanish), where formalized artisanal mining contributes to Aris Mining's neighboring gold production. By partnering with Denarius - led by Serafino Iacono, a key figure behind the rise of Gran Colombia Gold (now Aris Mining), which was the largest underground gold and silver producer in Colombia for many decades and with current gold production of over 200,000 ounces per year from three main mines in the high-grade DMSR - Quimbaya gains access to a team with deep experience in turning artisanal mining into structured, profitable operations that benefit both communities and shareholders.
Figure 2. Location Map of the Tahami North Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_002full.jpg
"This is a pivotal step for Quimbaya," said Alexandre P. Boivin, President and CEO of Quimbaya Gold, " as partnering with one of the most experienced exploration and mining teams in Colombia will not only allow Quimbaya to quickly leverage this existing opportunity, but also to deliver on our community objective of helping formalize artisanal miners, while we continue advancing our broader exploration and drilling plans to make a high-grade gold discovery on the Tahami South property."
About the Tahami Project
Located adjacent to Aris Mining's flagship Segovia Operations-one of the highest-grade underground gold producers globally-the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the DMSR, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction, and a strong tradition of gold production.
Figure 3. General map of the Tahami Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_003full.jpg
Qualified Person statement - Ricardo Sierra BSc. Geology, MAusIMM (3078246)
Quimbaya's disclosure of technical and scientific information in this press release has been reviewed and approved by Ricardo Sierra (AusIMM), the Vice President Exploration for the Company, who is a Qualified Person as defined in National Instrument 43-101.
Completion of Corporate Continuance to British Columbia
The Continuance was approved by the shareholders of the Company at the annual general and special meeting of shareholders held on March 28, 2025 (the "Meeting"). The principal effects of the Continuance are set out in the management information circular for the Meeting dated February 14, 2025 (the "Circular"). Copies of the Circular and charter documents for the Continuance are available on SEDAR+ under the Company's profile at www.sedarplus.ca.
About Quimbaya Gold Inc.
Quimbaya Gold Inc. is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia's prolific mining districts. The Company is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio, and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.
Contact Information
Alexandre P. Boivin, President and CEO
apboivin@quimbayagold.com
+1-647-576-7135
Jason Frame, Manager of Communications
jason.frame@quimbayagold.com
Quimbaya Gold Inc.
Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
Follow on Instagram @quimbayagoldinc
Follow on Facebook @quimbayagoldinc
Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to: the joint venture will be completed on the terms set forth in the letter of intent, the parties will perform their obligations under the joint venture and the results of the joint venture will be as expected. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251048
News Provided by Newsfile via QuoteMedia
Kalgoorlie Gold Mining offers investors a compelling proposition through its strategic focus on low-cost gold exploration in Western Australia's prolific Eastern Goldfields, highlighted by its Lighthorse high-grade gold discovery at the Pinjin project.
Kalgoorlie Gold Mining (ASX:KAL) is a technically driven explorer targeting multi-million-ounce gold systems in the Eastern Goldfields of Western Australia. Through rigorous geophysical interpretation, structural targeting, and systematic drilling, the company is applying modern techniques to historically overlooked terranes. Its focus is on discovering concealed gold deposits beneath shallow cover by leveraging a proven methodology that includes geophysical analysis, geochemistry, aircore reconnaissance and RC follow-up drilling.
At the heart of this strategy is the flagship Pinjin project, located along the underexplored southern extension of the Laverton Tectonic Zone, a prolific gold-bearing structure responsible for over 30 Moz of historical production from mines such as Sunrise Dam, Granny Smith and Wallaby. Positioned just 20 km north of Ramelius Resources’ Rebecca gold project, Pinjin is ideally situated in a district that has seen limited modern exploration. Kalgoorlie Gold has already delivered a maiden JORC 2012 inferred resource of 76,400 oz (2.34 Mt @ 1.0 g/t gold) at the Kirgella Gift and Providence prospects. These results confirm the presence of shallow mineralization and validate the company’s targeting model. Numerous structural targets have been identified throughout the project area, the majority of which remain untested.
Within Pinjin, the Light Horse Discovery is the company's highest-impact target, where RC drilling has confirmed thick, high-grade mineralization in altered mafic volcanics. The discovery validates Kalgoorlie Gold’s undercover targeting model and is being advanced toward a maiden resource.
Complementing this is the Bulong Taurus project, 35 km east of Kalgoorlie, which hosts the La Mascotte deposit with a JORC inferred resource of 138,000 oz gold (3.61 Mt @ 1.19 g/t). The project includes historic workings and satellite prospects within a structurally favorable corridor. While a secondary focus, heritage approvals are underway to enable follow-up drilling and assess near-term development potential.
To date, Kalgoorlie Gold has tested only around 10 percent of its known targets but has already encountered mineralization in roughly half of them – an exceptional hit rate that underscores the strength of its approach. As the company ramps up its exploration programs, it is positioning itself as one of the most compelling early-stage gold discovery stories in the Australian market.
The Pinjin project covers more than 350 sq km and is situated within the southern extension of the Laverton Tectonic Zone, a crustal-scale shear corridor accounting for >30 Moz of historical production. Despite its proximity to major mines, this southern area has seen minimal modern exploration.
Kalgoorlie Gold’s initial focus has been the Kirgella Gift and Providence prospects, where the company defined a JORC 2012 inferred resource of 2.34 Mt @ 1.0 g/t Au for 76,400oz. This estimate was derived from near-surface RC drilling down to ~100 metres, with mineralization remaining open at depth and along strike.
The company has also acquired geophysical datasets and conducted interpretation work to identify additional structural corridors and dilation zones likely to host mineralization. These were validated by soil sampling, structural mapping and aircore drilling. Work completed to date includes more than 16,000 metres of drilling, extensive geological mapping, and data reinterpretation, while upcoming plans involve deeper drilling, geophysics to enhance target definition, and continued aircore programs to expand the exploration footprint.
The Lighthorse prospect, situated within the greater Pinjin project area, represents Kalgoorlie Gold’s most promising greenfields discovery to date. Discovered beneath shallow cover using the company's rigorous targeting methodology, Light Horse has yielded multiple thick, high-grade intercepts, confirming the presence of a significant mineralized system. RC drilling has returned standout results such as 2.2 g/t gold over 23 metres, 3.1 g/t gold over 14 metres, and 6.5 g/t gold over 7 metres. These intercepts occur in altered mafic volcanics and are interpreted to represent a robust gold system with potential for lateral and vertical continuity. The discovery validates Kalgoorlie Gold’s structural targeting model and supports the thesis that the region may host not just a single deposit, but a larger gold field. Currently, Lighthorse is the highest-priority drill target in the company’s pipeline. Near-term plans include further RC step-out and infill drilling to define mineralized zones, downhole geophysics to guide targeting of high-grade shoots, and eventual metallurgical sampling. A maiden resource is anticipated following the next phase of drilling, with the potential to rapidly advance toward scoping studies in 2026.
Located just 35 kilometres east of Kalgoorlie-Boulder, the Bulong Taurus project offers near-term optionality and brownfields upside. The project hosts the La Mascotte deposit, which contains a JORC 2012 inferred mineral resource of 138,000 oz at 1.19 g/t gold. This outcropping resource is located within the historical Taurus Goldfield and is surrounded by a suite of satellite targets, historical workings and underexplored geophysical anomalies. The geology is characterized by a mix of felsic and mafic volcaniclastic units, cut by northeast-trending structures favorable for gold deposition. Kalgoorlie Gold has undertaken mapping, sampling and historical data reprocessing to refine targeting, and is currently working with Traditional Owners to secure heritage clearances for further exploration. Planned future activities at Bulong Taurus include RC drilling to test extensions of La Mascotte, soil and geophysical surveys across adjacent prospects, and evaluation of development or joint venture options depending on resource scale and continuity. While not the company’s primary focus, Bulong Taurus offers strategic exposure to additional ounces near existing infrastructure.
Dr. Matt Painter is a geologist with over 25 years of experience in mineral exploration and project development. He holds a BSc (Hons) and a PhD in geology. Before joining Kalgoorlie Gold Mining, Painter served as general manager of exploration at Ardea Resources Limited, where he played a pivotal role in advancing the company's gold and nickel projects. His expertise lies in structural geology and the discovery of concealed mineral systems, which is instrumental in driving Kalgoorlie Gold Mining's exploration strategy.
Graeme Smith brings more than 30 years of financial and corporate governance experience to Kalgoorlie Gold Mining. He holds a Bachelor of Economics and is a Fellow of the Chartered Institute of Secretaries, a Fellow of CPA Australia, and a Fellow of the Chartered Secretaries Australia. Smith has held senior financial roles across various ASX-listed companies, providing strategic financial oversight and ensuring compliance with corporate regulations.
Pauline Gately is an accomplished non-executive director with over a decade of board experience across the mining, financial technology and consumer goods sectors. Her board contributions are underpinned by 20 years in investment banking, encompassing senior roles in investment strategy, economics and funds management. Gately is a graduate and member of the Australian Institute of Company Directors and holds a BA (Hons) in Economics and a Graduate Diploma in Accounting. She also serves as a non-executive director of Ardiden Limited.
Andrew Penkethman is a geologist with more than 25 years of technical and corporate experience in the resources sector. He has worked across exploration, feasibility studies, and operations within Australia and internationally. Penkethman is currently the managing director and CEO of Ardea Resources, bringing valuable insights into project development and strategic planning to the board of Kalgoorlie Gold Mining.
Scott Herrmann oversees Kalgoorlie Gold’s exploration programs across its project portfolio. With a strong background in geology and mineral exploration, Herrmann plays a critical role in target generation and drill program execution, contributing to the company's discovery success.
Goldbelt also has an existing Memorandum of Understanding with the Alaska DOT&PF for advancing development of an Alaska Marine Highway System (AMHS) passenger ferry terminal at the site, which would significantly shorten the ferry route between Juneau and nearby communities.
Last week, the Alaska DOT&PF announced that it is initiating a design-build contracting process for Phase 1 of the Cascade Point Passenger Ferry Terminal. The scope of work includes all earthworks and site preparation for the uplands area, procurement of materials for development of the marine area, construction of a replacement bridge to enable heavy equipment access to the site, and construction of a new access road suitable for year-round use. Total value for this contract is estimated at $20-30 million USD.
Development of the ore terminal is not contingent on development of the passenger ferry terminal - it can be developed prior to (and independently of) the passenger ferry facility. However, having the ferry terminal proceed first is highly advantageous as it would result in the development of infrastructure that will also be necessary for the ore terminal, particularly the new access road and bridge. This reduces the time and cost required for future ore terminal development.
Ian Klassen, President and CEO comments: "We are extremely pleased to see the State of Alaska advancing the Cascade Point Passenger Ferry Terminal towards construction. In the future, Grande Portage and Goldbelt intend to further develop the site by adding a freight barge terminal for transportation of ore from the New Amalga Gold Project to a third-party processing facility. This dual-use of the site will maximize the benefits to the local economy and create long-term job opportunities for the community of Juneau".
Fig. 1: Location of the New Amalga Gold Project and Cascade Point
Kyle Mehalek, P.E.., is the QP within the meaning of NI 43-101 and has reviewed and approved the technical disclosure in this release. Mr. Mehalek is independent of Grande Portage within the meaning of NI 43-101.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on advancing the New Amalga Mine project, the outgrowth of the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga property. The New Amalga gold system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.
The Company's updated NI#43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024.
About Goldbelt, Incorporated:
Founded in 1973 and officially incorporated in 1974, Goldbelt Incorporated is the urban corporation that represents the Juneau area. Goldbelt is an Alaska Native Corporation with a deep connection to both our ancestors and our children - we remember the stories and traditions of the past, while working to build a bright future for our shareholders in Southeast Alaska and beyond.
Goldbelt's businesses are diverse and feature both federal government contracting and commercial operations, which serve the tourism, transportation, and security industries. Goldbelt's government contracting subsidiaries offer solutions services in high-skill areas including information technology and cybersecurity, healthcare and medical services. More information is available at https://www.goldbelt.com.
ON BEHALF OF THE BOARD
"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. 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 information, whether as a result of new information, future events or otherwise, other than as required by law.
Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure. These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment, such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data, and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that it has published its ninth annual Responsible Mining Report entitled "Raising the Bar" (the "Report"), which details B2Gold's global economic contributions and its environmental, social, and governance ("ESG") management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated.
B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.
To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal
In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."
Highlights from the 2024 "Raising the Bar" Responsible Mining Report
Economic Contribution
As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:
B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.
People
As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.
At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.
B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.
Health and Safety
As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.
Communities
B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:
Environment
B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).
Approach to Reporting
B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.
Highlights from the 2024 Climate Strategy Update
2024 Highlights
Looking Forward – 2025 and Beyond
In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.
As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.
Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.
About B2Gold
B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
ON BEHALF OF B2Gold Corp.
"Clive T. Johnson"
President and Chief Executive Officer
1 Includes the Community Relations department's operational costs, Gramalote CSR, Masbate's SDMP, Otjikoto's Nature Reserve and Agricultural Project expenditures, and Head Office donations.
2 Employee total includes our three operating mines and project/construction employees. The reported numbers include full-time and part-time permanent employees as well as temporary employees.
3 "Senior Management" refers to regional executives and regional heads of department.
4 As of January 1, 2024, "National" is defined as those with citizenship in the country of operation. This change was made to align with the Malian local content definition. Prior to 2024, National status was defined as those individuals not on expatriate contracts and included those who had the legal right to work and reside in country without citizenship. As per the Namibian Affirmative Action (Employment) Act, "Local" is defined as "Namibian", which excludes expatriates, permanent residents and those who have domicile.
5 Frequency Rate is based on 200,000 hours.
For more information on B2Gold please visit the Company website at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371 investor@b2gold.com Source: B2Gold Corp.
News Provided by GlobeNewswire via QuoteMedia
Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") has temporarily suspended drilling operations at its Tartan Mine property near Flin Flon, Manitoba, due to a forest fire in the nearby vicinity.
"We have withdrawn our staff and continue to monitor our facilities remotely in accordance with local directives. Our team is in constant communication with local and provincial authorities to coordinate all efforts during this difficult time. All personnel are safe, and the Tartan facilities are secure. While all activities at the site are currently suspended, we remain hopeful that the nearby forest fire activity will not have any material impact on our Phase 4 drilling program.
All the firefighters, EMS workers, RCMP, and the great people of Flin Flon remain in our thoughts during this difficult time." - Michael Swistun, CFA, President & CEO
Canadian Gold Corp. will update the market in the event of any material change arising in relation to the forest fire situation.
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Social Media Accounts:
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 Agreement by the Company.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253751
News Provided by Newsfile via QuoteMedia