Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) announces that its Board of Directors (the "Board") has appointed the Company's Lead Director, Rex McLennan, as Chairman of the Board. Mr. McLennan steps into the Chairman position to replace former Executive Chairman, Bradford Cooke, who passed away suddenly and unexpectedly last week (see news releases dated August 18 and August 24, 2022). Read More >>
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![Release - Endeavour Silver Appoints Rex McLennan as Chairman](https://investingnews.com/media-library/image.gif?id=29648215&width=1200&height=290)
Release - Endeavour Silver Appoints Rex McLennan as Chairman
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Elliot Lake Uranium Project Expanded and Exploration Commenced
NickelX Limited (“NickelX”, “NKL” or “The Company”) is pleased to advise it has secured via low-cost staking 100% of the rights to an additional eleven (11) multi-cell claims, referred to as the Blind River Block, adding a further 51km2 of highly prospective ground to its Elliot Lake Uranium Project located in Ontario, Canada (Figure 2).
- Additional, highly prospective uranium tenure, referred to as the Blind River Block, has been secured by NickelX in the Elliot Lake district in Ontario, Canada.
- A field reconnaissance program, including mapping, sampling and drill hole siting, has commenced at NickelX’s Elliot Lake Project, where the Company is targeting conglomerate hosted uranium mineralisation.
- The Project is accessible by road from Toronto (a ~6 h drive). Year-round access and proximity to existing infrastructure provide logistical advantages that cannot be overstated when operating in Canada.
- Stakeholder and First Nations engagement has also commenced with letters of engagement forwarded to local community stakeholders in anticipation of future drill programs.
- Magnetic and radiometric data re-processing combined with the Company’s recent geological review has defined multiple high priority uranium targets.
- The prolific Elliot Lake uranium district produced 362 Mlbs U3O8 @ 0.1060% (1,060 ppm) U3O8 from 13 underground mines active between 1955 and 1996, within an area of c. 15 × 15 km. The uranium mineralisation at Elliot Lake is hosted by stratabound conglomerate beds, which are relatively continuous and geologically predictable. The mineralised beds can be up to 19.5 km long, 8.0 km wide and 4 m thick1 (Figure 1).
Multiple high priority uranium targets have been defined at the Elliot Lake Uranium Project by re-processing of geophysical data combined with recent geological data review (see NickelX ASX announcement dated 21st February 2024).
The geophysical data reprocessing has highlighted strong U2/Th ratio radiometric anomalism both within, and interpreted to trend into, the Company’s Kirkpatrick, Inspiration and Quirke West Claim Blocks (Figure 5) where uranium anomalism and mineralisation have been identified by previous explorers (see NickelX ASX announcement dated 21st February 2024).
The High Priority Target areas identified by NickelX are now the focus of detailed field activities that have commenced, including mapping, sampling, drill hole siting, and engagement with first nations groups, while also evaluating additional opportunities within the district.
The claim blocks, collectively the Elliot Lake Uranium Project (Figure 3, Table 1), cover highly prospective uranium targets along strike from the Elliot Lake uranium district, which historically produced >360 Mlbs U3O8 from 13 underground mines1 (see NickelX ASX announcement dated 21st February 2024).
The Elliot Lake Uranium Project now comprises 41 multi-cell mining claims covering 180 km2. The Company is targeting conglomerate-hosted uranium and rare earth element (REE) mineralisation along the underexplored interpreted extensions to the historic, major uranium mining centre at Elliot Lake.
The targeted uranium mineralisation style is stratabound and consequently relatively continuous and predictable. The known deposits typically have excellent lateral and downdip grade and thickness continuity, providing potential for large-scale deposits (Figure 1).
The Project area is considered to have excellent year-round access, is close to infrastructure and service centres, electrical and water supplies and the world's largest commercial uranium refinery at Blind River (Figure 2), operated by uranium major Cameco Corporation.
Click here for the full ASX Release
Endeavour Silver Announces 2024 Annual General Meeting Voting Results
Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to announce that shareholders voted in favour of all items of business at the Company's 2024 Annual General Meeting ("AGM") held on May 28, 2024 in Vancouver. A total of 104,090,503 votes were cast or represented by proxy at the AGM, representing 43.31% of the outstanding common shares as of the record date. The following is a tabulation of the votes submitted by proxy:
DIRECTORS | NUMBER OF SHARES | PERCENTAGE OF VOTES CAST | ||
FOR | WITHHELD/ ABSTAIN | FOR | WITHHELD | |
Rex J. McLennan | 50,212,585 | 11,699,944 | 81.10% | 18.90% |
Margaret M. Beck | 61,370,134 | 542,396 | 99.12% | 0.88% |
Ricardo M. Campoy | 61,455,874 | 456,656 | 99.26% | 0.74% |
Daniel Dickson | 61,461,186 | 451,345 | 99.27% | 0.73% |
Amy Jacobsen | 61,364,651 | 547,879 | 99.12% | 0.88% |
Kenneth Pickering | 53,516,716 | 8,395,815 | 86.44% | 13.56% |
Mario D. Szotlender | 61,428,282 | 484,248 | 99.22% | 0.78% |
Angela Johnson | 61,333,538 | 578,992 | 99.06% | 0.94% |
All director nominees were re-elected, including the addition of Angela Johnson to the Board of Directors (see news release dated April 18, 2024 ) to fill vacancy left by the retirement of Christine West.
Shareholders voted 88.36% in favour of re-appointing KPMG LLP as auditor of the Company and authorized the Board to fix the auditor's remuneration for the ensuing year. In addition, shareholders also voted 96.79% in favour of approving certain amendments to the Stock Option Plan and all unallocated options grantable under the Stock Option Plan, as amended by Amendment No. 6, and 96.76% in favour of approving all unallocated awards grantable under the Share Unit Plan.
About Endeavour Silver – Endeavour Silver is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
For Further Information, Please Contact:
Galina Meleger, Vice President, Investor Relations
Tel: 604-640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook , X , Instagram and LinkedIn
News Provided by GlobeNewswire via QuoteMedia
Endeavour Silver Highlights Progress on its Three-Year Sustainability Strategy in 2023 Sustainability Report
Endeavour Silver Corp. ("Endeavour" or the "Company") (TSX: EDR, NYSE: EXK) made further progress executing its 2022-2024 Sustainability Strategy as outlined in the Company's 2023 Sustainability Report released today.
Entitled "Transformation in Motion", the report provides insights into Endeavour's sustainability performance and approach over 2023, including second-year progress highlights against the strategy.
"Since launching our 2022-2024 Sustainability Strategy two years ago, we have completed many significant initiatives and achieved key targets," stated Dan Dickson, CEO of Endeavour. "In 2023, we transformed more commitments into meaningful impact across our sites and surrounding areas. With the ongoing construction of our flagship mine, Terronera, we're on the doorstep of a transformation that will bring us closer to becoming a premier silver producer—and our sustainability initiatives have helped set us up for this exciting future."
Endeavour's 2022-2024 Sustainability Strategy is centered around three pillars:
- People – Increasing positive social impacts for people in our workplace and in the communities where we operate.
- Planet – Elevating our environmental stewardship to reduce negative impacts, protect ecosystems and support environmental sustainability.
- Business – Operating a trusted, well-performing business by further strengthening the critical foundations that create long-term organizational sustainability.
The actions we took in 2023, and achievements made, include the following (all dollar amounts presented below are in U.S. dollars):
People
- Continued implementing safety procedures aligned to ISO 45001, the global standard for reducing occupational injuries and diseases, and recorded a 1.03 reportable injury rate.
- Provided an average of 31 training hours per employee and contractor.
- Made upgrades to our mining on-site facilities, including employee accommodations, food services and enjoyment areas, to create more comfortable experiences for our people.
- Nearly doubled our community investments, to $854,620 which supported initiatives such as road improvement projects, the building of a new community water well, and the delivery of skill-training workshops for local residents.
- Marked the seventh anniversary of our Scholarship Program, with 142 scholarships awarded in 2023 – and 855 since 2017 – to enhance access to education for local students.
- Awarded the ‘Socially Responsible Company' distinction by the Mexican Center for Philanthropy.
Planet
- Released our first climate report aligned to the Task Force on Climate-related Financial Disclosures (TCFD) framework, entitled " Our Climate Journey " , and undertook research to inform the development of a long-term Climate Action Plan.
- Calculated Scope 3 emissions for the first time, for our two producing mines.
- Recycled 89% of water used in our operations, beating our target and minimizing our use of fresh water.
- Diverted 78% of our overall waste from landfills.
- Continued working with an external consultant to align our current practices with the new Global Industry Standard on Tailings Management.
- Planted 58,580 trees through our reforestation program to restore land disturbed by mining activity
Business
- Surpassed 30% representation of women on the Board, achieving our 2024 target.
- Developed Anti-money Laundering and Anti-terrorist Financial Protocol to formalize and strengthen the controls governing our relationships with third parties.
- 100% of our employees completed business conduct and ethics training.
- Created a new human rights training course for Endeavour's security personal.
- 97% of our procurement was from local and national suppliers in Mexico.
- Launched Supplier Standards of Conduct to integrate enhanced ESG criteria into our supplier due diligence processes.
The 2023 Sustainability Report and related performance tables are available on Endeavour's website .
The report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) framework, as well as with reference to the United Nations Sustainable Development Goals (SDGs). A Spanish version of the report will be available online during Q3, 2024.
About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Galina Meleger, Vice President of Investor Relations
Tel: (877) 685 - 9775
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook , X , Instagram and LinkedIn
News Provided by GlobeNewswire via QuoteMedia
Max Resource Discovers 5 New Copper and Silver Targets at CESAR
MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report that it has discovered a series of five mineralized outcrops (collectively Target Area AM-14) on a Mining Concession, within the AM District of its wholly-owned Cesar Copper-Silver Project, Northeastern Colombia.
Highlights
- 5 newly discovered outcrops of stratiform copper-silver mineralization covering 1,000m2.
- Mineralized layers are exposed up to 285m along strike and range in thickness from 0.8m to 4.0m.
- Confirms multiple copper-silver bearing horizons within thick sedimentary rock sequence.
- Strong evidence of 1.5-km continuity of mineralized layers between new discovery and AM-07.
The five discoveries confirm multiple copper-silver bearing layers within a 700-metre-thick sequence of interbedded sandstones in the AM District. Additionally, there is strong evidence to suggest that one of the newly discovered outcrops (Outcrop #2) is a continuation of the mineralized horizon at target AM-07, located approximately 1.5-km to the northeast. This supports the Company's interpretation that the copper-silver bearing layers in the AM District are continuous over large distances, similar to the Kupferschiefer and Kamoa-Kakula deposits.
"As we continue to obtain high-grade results and locate significant structural and stratiform copper-silver mineralization, the Company's staunch belief in Cesar as a potential for significant deposits comes ever closer to fruition," commented Brett Matich, CEO of Max.
"The AM-14 mapping and sampling outlines an area some 600 to 1000 metres by 1000 to 1200 metres, strongly supporting our belief in Cesar as a regional or district copper-silver target, as opposed to a cluster of smaller unrelated zones. We look forward to assay results in the coming weeks," he concluded.
Description of the Mineralisation
Preliminary work has determined that mineralization is hosted in layers of medium to fine-grained sandstone rich in organic material. The copper-silver bearing horizons are distributed across a 700-metre-thick package of interbedded sedimentary rocks that strike 240⁰ to 260⁰ and dip 30⁰ to 45⁰ northwest. Chalcocite, malachite and azurite are the most abundant copper minerals observed in the outcrop (refer to Figure 1 to Figure 3).
All five of the outcropping mineralized beds are open along strike and at Outcrop #2, the copper-silver bearing sandstone horizon could be traced along strike for over a distance of 285m. Similarly, at Outcrop #5, the mineralized horizon exposed for over 130m before disappearing under cover. Layer thickness ranges from 0.8m at Outcrop #4 to 4.0m at Outcrop #5.
Systematic channel sampling of the mineralized outcrop has now commenced. In addition, crews have begun detailed mapping in the vicinity of the discovery with the goal of extending the footprint of mineralization.
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 2 metres thick and exposed for 4 metres along strike before disappearing under cover.
Figure 1: Newly Discovered Outcrop #1 at AM-14
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 1.25 metres thick and exposed for 236 metres along strike before disappearing under cover.
Figure 2: Newly Discovered Outcrop #2 at AM-14
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 4 metres thick and exposed for 130 metres along strike before disappearing under cover.
Figure 3: Newly Discovered Outcrop #5 at AM-14
Figure 4: Location of the AM-14 Discovery
Figure 5: Location of Newly Discovered Outcrops in Target Area AM-14
Background
The Cesar Copper Silver Project comprises three districts: AM, Conejo and URU. Collectively the three contiguous districts stretch over 120-km in NNE/SSW direction (refer to Figure 6).
Figure 6: Location and Scale of the Cesar Copper Silver Project, NE Colombia
This region provides access to major infrastructure established for oil & gas and mining operations, including Cerrejón, the largest coal mine in South America, held by global miner Glencore. Max's twenty mining concessions collectively span over 188-km².
In 2022, Max executed a 2-year co-operation agreement with Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK), which assists in expanding its 100% owned landholdings; Endeavour will hold an underlying 0.5% NSR.
AM District
Starting in the far north of the Jurassic basin, classic stacked red bed outcrops with extensive lateral continuity have been rock sampled over many kilometres within the AM District. Highlight values of 34.4% copper and 305 g/t silver have been documented in the sedimentary red bed sequences. The Company confirmed that stratiform mineralization continues at depth with two scout drill holes completed earlier this year (Max News Release dated April 4, 2023). In addition, Colombian field crews continue to discover and sample new mineralized outcrops including at the recently identified AM-7 target (Max News Release dated May 25, 2023 and Max News Release dated June 22, 2023).
Conejo District
Midway south, the Conejo District is the most recent to be recognized and is characterized by structurally controlled mineralization hosted in intermediate and felsic volcanic rocks. Numerous mineralized outcrops have been discovered over 3.7-km at the primary target in the district with surface samples averaging 4.9% copper (2% cut-off). No drilling has been conducted at Conejo, but it has emerged as an area of focus for the Company.
URU District
Mineralization within the URU District is hosted in intermediate volcanic rocks and is structurally controlled, similar to deposits in the Central African Copper Belt. At URU-C, a 9.0m of 7.0% copper and 115 g/t silver surface discovery was confirmed at depth by drill hole URU-12, which intersected 10.6m of 3.4% copper and 48 g/t silver. At the URU-CE target, 750m to the east, 19.0m of 1.3% copper discovered in outcrop was confirmed by drill hole URU-9, which intersected a broad zone of copper oxide returning 33.0m of 0.3% copper from 4.0m, including 16.5m of 0.5% copper (Max News Release date January 24, 2023).
Cesar Target Evaluation
Max has identified and is evaluating 28 targets along the 120-km-long belt for potential drill testing. The Company is focused on expanding, refining, and prioritizing these targets in preparation for a drill program. Initial efforts have been concentrated on those targets with the greatest size potential with work that includes the following field activities:
- Systematic chip and channel sampling of the mineralized outcrops.
- Detailed geological and structural mapping of each showing.
- Target scale prospecting and soil sampling.
- Airborne Magnetic/Radiometric Surveys.
Regional Exploration
Max has demonstrated that the Cesar basin is fertile for copper-silver mineralization over a large area; however, only a fraction of the basin has been explored. As a result, Max has dedicated one of its geological teams to regional exploration with the goal of discovering additional copper-silver prospects within its land package covering more than 1,000 sq-km.
Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, PGeo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.
About Max Resource Corp.
Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. The wholly owned Cesar project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron).
In addition, Max controls the RT Gold project (100% earn-in) in Peru, encompassing a bulk tonnage primary gold porphyry zone, and 3-km to the NW, a gold bearing massive sulphide zone. Historic drilling in 2001, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0m.
Max is proactive, with the corporate goal of transitioning the Cesar basin towards the mining of copper, the key metal for Colombia's transition to clean energy. The safety of our people and the communities where we operate is most important. We conduct exploration in a manner which supports protection of ecosystems through responsible environmental stewardship.
Source: NI 43:101 Geological Report RT Gold Project for Max Resource Corp. by Luis Rodrigo Peralta, Mar. 8, 2023. NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011.
For more information visit: https://www.maxresource.com/.
For additional information contact:
Tim McNulty E: info@maxresource.com T: (604) 290-8100
Rahim Lakha E. rahim@bluesailcapital.com
Brett Matich T: (604) 484 1230
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.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.
Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein.
The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.
Max Resource Discovers New Copper & Silver Target at CESAR
MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report it has discovered another significant mineralized outcrop at its AM District, within its 100% owned Cesar Copper-Silver Project, Northeastern Colombia. The new target, AM-08 is located approximately 7-km southeast of the AM-07 discovery (refer to Figure 2 and Max News Release dated June 22, 2023).
"This new and exciting discovery reinforces Max's thesis that the Cesar Copper-Silver Project may host multiple stand-alone deposits. The Max field team has now identified 22 targets across three separate districts of the 90-km Cesar copper-silver belt: AM, Conejo and URU," commented VP Exploration, Bruce Counts.
"In addition, Max's 4,000-line-km high-resolution airborne magnetic and radiometric survey over the entire AM District is well underway. Survey results will be used to refine existing targets and identify new targets by mapping the lithologies and the geological structures that control mineralization," he concluded.
Figure 1: Images of Outcrop at Target AM-08 and rock specimen with primary copper minerals Chalcocite and Malachite
Preliminary work on the new AM-08 outcrop has determined the copper-silver mineralization is hosted in a steeply dipping structure within a porphyritic rhyolite, a type of felsic volcanic rock, and that it is exposed across a width of 10m before disappearing under cover. Chalcocite and malachite are the most abundant copper minerals observed in the outcrop with minor amounts of chalcopyrite and covellite also present (refer to Figure 1).
Systematic channel sampling of the mineralized outcrop has now commenced, and crews have begun detailed mapping in the vicinity of the new discovery with the goal of extending the footprint of mineralization. Drone video of the AM-08 discovery can be viewed here.
Figure 2: Location of the AM-08 Discovery
Background
The Cesar Copper Silver Project comprises of three districts: AM, Conejo and URU. Collectively the three contiguous districts stretch over 90-km in NNE/SSW direction (refer to Figure 3).
Figure 3: Location of the Cesar Copper Silver Project, NE Colombia
This region provides access to major infrastructure resulting from oil & gas and mining operations, including Cerrejón, the largest coal mine in South America, held by global miner Glencore. Max's twenty mining concessions collectively span over 188-km².
In 2022, Max executed a 2-year co-operation agreement with Endeavour Silver Corp. (TSX: EDR, NYSE: EXK), which assists to expand its 100% owned landholdings, Endeavour will hold an underlying 0.5% NSR.
AM District
Starting in the far north of the Jurassic basin, classic stacked red bed outcrops with extensive lateral continuity have been rock sampled over many kilometres within the AM District. Highlight values of 34.4% copper and 305 g/t silver have been documented in the sedimentary red bed sequences. The Company confirmed that stratiform mineralization continues at depth with two scout drill holes completed earlier this year (Max News Release dated April 4, 2023). In addition, Colombian field crews continue to discover and sample new mineralized outcrops including at the recently identified AM-7 target (Max News Release dated May 25, 2023 and Max News Release dated June 22, 2023).
Conejo District
Midway south, the Conejo District is the most recent to be recognized and is characterized by structurally controlled mineralization hosted in intermediate and felsic volcanic rocks. Numerous mineralized outcrops have been discovered over 3.7-km at the primary target in the district with surface samples averaging 4.9% copper (2% cut-off). No drilling has been conducted at Conejo, but it has emerged as an area of focus for the Company.
URU District
Mineralization within the URU District is hosted in intermediate volcanic rocks and is structurally controlled, similar to deposits in the Central African Copper Belt. At URU-C, a 9.0m of 7.0% copper and 115 g/t silver surface discovery was confirmed at depth by drill hole URU-12, which intersected 10.6m of 3.4% copper and 48 g/t silver. At the URU-CE target, 750m to the east, 19.0m of 1.3% copper discovered in outcrop was confirmed by drill hole URU-9, which intersected a broad zone of copper oxide returning 33.0m of 0.3% copper from 4.0m, including 16.5m of 0.5% copper (Max News Release date January 24, 2023).
CESAR Target Evaluation
Max has identified and is evaluating 22 targets along the Cesar 90-km-long belt for potential drill testing. The Company is focused on expanding, refining, and prioritizing these targets in preparation for a drill program. Initial efforts have been concentrated on those targets with the greatest size potential with work that includes the following field activities:
- Systematic chip and channel sampling of the mineralized outcrops.
- Detailed geological and structural mapping of each showing.
- Target scale prospecting and soil sampling.
- Airborne Magnetic/Radiometric Surveys.
Regional Exploration
Max has demonstrated that the Cesar basin is fertile for copper-silver mineralization over a large area; however, only a fraction of the basin has been explored. As a result, Max has dedicated on of its geological teams to regional exploration with the goal of discovering additional copper-silver prospects over 1,000 sq-km.
Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, PGeo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.
About Max Resource Corp.
Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. The wholly owned Cesar project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron).
In addition, Max controls the RT Gold project (100% earn-in) in Peru, encompassing a bulk tonnage primary gold porphyry zone, and 3-km to the NW, a gold bearing massive sulphide zone. Historic drilling in 2001, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0m.
Max is proactive, with the corporate goal of transitioning the Cesar basin towards the mining of copper, the key metal for Colombia's transition to clean energy. The safety of our people and the communities where we operate is most important. We conduct exploration in a manner which supports protection of ecosystems through responsible environmental stewardship.
Source: NI 43:101 Geological Report RT Gold Project for Max Resource Corp. by Luis Rodrigo Peralta, Mar. 8, 2023. NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011.
For more information visit: https://www.maxresource.com/
For additional information contact:
Tim McNulty E: info@maxresource.com T: (604) 290-8100
Rahim Lakha E. rahim@bluesailcapital.com
Brett Matich T: (604) 484 1230
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.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein.
The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.
Silver North Announces Closing of Second Tranche of Private Placement
(TheNewswire)
Vancouver, BC, June 28, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has closed the second tranche (the " Second Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $175,880. Further to the Company's news release dated June 21, 2024, the Company has raised aggregate gross proceeds of $738,380 in the Offering.
In connection with the closing of the Second Tranche the Company issued 1,099,250 non-flow-through units of the Company (the " NFT Units ") at a price of $0.16 per NFT Unit for gross proceeds of $175,880. Each NFT Unit is comprised of one common share in the capital of the Company (a " Share ") and one common share purchase warrant (a " Warrant ") of the Company. Each Warrant entitles the holder thereof to purchase one Share (a " Warrant Share ") until June 28, 2028 at an exercise price of $0.35 per Warrant Share.
"Management would like to thank those who participated in this financing as we continue to push to make new silver discoveries," stated Mark T. Brown, Executive Chairman of Silver North. "With this continued support we can continue to add value drilling new high grade silver targets and advancing existing discoveries such as West Fault, at our Haldane Silver Project, Keno District, Yukon."
The Company intends to use the proceeds from the Second Tranche for general corporate and working capital purposes.
In connection with the closing of the Second Tranche the Company issued 10,500 finder's warrants (the " Finder's Warrants ") and paid a cash commission of $1,680 to Haywood Securities Inc. Each Finder's Warrant entitles the holder thereof to purchase one Share (a " Finder's Warrant Share ") at a price of $0.16 per Finder's Warrant Share until June 28, 2025. The Finder's Warrants issued in connection with the Second Tranche are subject to a statutory hold period and may not be traded until October 29, 2024, except as permitted by applicable securities legislation.
Jason Weber, CEO, President and a director of the Company and Pacific Opportunity Capital Ltd., a company controlled by Mark Brown, a director of the Company (collectively, the " Interested Parties "), purchased or acquired direction or control over a total of 231,250 NFT Units as part of the Second Tranche. The placement to the Interested Parties constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). Notwithstanding the foregoing, the directors of the Company have determined that the Interested Parties' participation in the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the Second Tranche of the Offering as the details of the participation of Interested Parties had not been confirmed at that time.
The Company anticipates closing a third tranche of the Offering shortly, subject to customary closing conditions, including the approval of the TSX Venture Exchange (" TSXV "). The Company anticipates that the securities issued in subsequent tranches will be NFT Units.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the NFT Units and the charity flow-through units (" CFT Units " and together with the NFT Units, the " Offered Securities ") are offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issuable from the sale of Offered Securities to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.silvernorthres.com. Prospective investors should read this offering document before making an investment decision.
The securities described herein have not been, and will not be, registered under the U.S. Securities Act, as amended, or any state securities laws, and accordingly, may not be offered or sold within the United States or the US persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Silver North Resources Ltd.
Silver North's primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill Mine project), the Tim silver project (under option to Coeur Mining, Inc. in the Silvertip/Midway District, BC and Yukon) and the GDR project also in the Silvertip/Midway district. Silver North also plans to acquire additional silver properties in favourable jurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol "SNAG", trades on the OTCQB market in the United States under the symbol "TARSF", and under the symbol "I90" on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807- 7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X:
LinkedIn: https://
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD- LOOKING STATEMENTS.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2024 TheNewswire - All rights reserved.
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Results of the Annual General and Special Meeting
Freegold Ventures Limited (TSX: FVL) (Frankfurt: FR4N) ("Freegold", the Company) today announced that all matters set out in the Management Information Circular dated May 14, 2024 for the 2024 Annual General and Special Meeting of Shareholders held on June 28, 2024 (the "Meeting") were approved by the shareholders holding 101,433,810 shares were voted representing approximately ~ 22.71% of the outstanding shares of the Company.
The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:
Nominee | # of Votes For | % of Votes For | # of Votes Withheld | % of Votes Withheld |
Ron Ewing | 100,880,186 | 99.45 | 553,625 | 0.55 |
Kristina Walcott | 98,974,508 | 97.58 | 2,459,303 | 2.42 |
Alvin Jackson | 99,068,535 | 97.67 | 2,365,276 | 2.33 |
David Knight | 84,204,358 | 83.01 | 17,229,453 | 16.99 |
Garnet Dawson | 99,597,686 | 98.19 | 1,836,125 | 1.81 |
Glen Dickson | 84,989,006 | 83.79 | 16,444,805 | 16.21 |
Reagan Glazier | 76,043,127 | 74.97 | 25,390,684 | 25.03 |
Maurice Tagami | 99,862,881 | 98.45 | 1,570,930 | 1.55 |
Vivienne Artz | 100,633,536 | 99.21 | 800,275 | 0.79 |
The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the company's auditors, as set forth in the management information circular.
The Company's shareholders approved all unallocated stock options, rights or entitlements under the Company's stock option plan.
Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 14, 2024 , which is filed under the Company's profile at www.sedarplus.com .
Drilling remains ongoing at Golden Summit. Ten holes have been completed to date, and two are currently in progress. Assays will be reported once they are received. The updated resource calculation incorporating the results of the 2023 drilling is expected to be reported in the coming weeks.
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 filed under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors associated with Freegold's operations.
SOURCE Freegold Ventures Limited
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Zodiac Gold Completes Pre-Drilling Satellite Data Interpretation at the Alasala Target on the Todi Gold Project
Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has completed a satellite data interpretation study (the "Study") covering the Alasala target of the Company's Todi Gold Project, which builds on the regional interpretation completed by A.C.A Howe International Limited ("ACA Howe") in 2021. The Study focused on a 72 km2 area including the 2 km long mineralized trend from Mandingo Hill to Lion Hill (see Map 1 below), delineated by soil sampling, trenching, channel sampling, auger drilling, and extensive artisanal workings with visible gold.
Management Commentary
David Kol, CEO, commented, "Completing this satellite data interpretation study marks a significant step forward in our exploration efforts at the Alasala target. The detailed insights into the geological setting and the identification of new structural trends improve our understanding of the controls on mineralization and enhance our confidence in the potential for high-grade gold mineralization. We are excited to advance to the next phase of our drill program and further unlock the value of the Todi Gold Project."
Highlights
The Study was completed by ACA Howe in advance of Zodiac Gold's upcoming drill program at Alasala and serves to improve the understanding of the geological setting and history of the area, as well as providing information on potential controls on mineralization. Specifically, the Study has revealed the following key points:
- The 2 km mineralized trend broadly follows a topographical high shown in radar data (see Map 2 below). A series of scarps has been identified on this trend and these continue along strike to the north and south. Initial follow-up on the ground by Zodiac Gold's geological team has identified weathered amphibolites and gneisses aligned with the north-northeast trending feature.
- A number of previously unknown cross-cutting east-northeast trending structures have been interpreted and it has been determined that a higher intensity structural corridor coincides with highly anomalous soil sample results at Mandingo Hill and Mamie Field (see Map 2 below). Notably, Zodiac Gold's recent rock chip samples of 32 and 33 g/t Au from Mandingo Hill (reported in Zodiac's press release dated May 28th, 2024), are in close proximity to interpreted cross-cutting east-northeast trending structures.
- High grade soil samples and the Man Field artisanal pit are also located on an interpreted cross-cutting east-northeast trending structure (see Map 2 below).
- Several northwest trending structures were also interpreted and the foliation and banding in the metamorphic rocks of the area is confirmed as being predominantly to the northwest and dipping to the southwest (see Map 2 below), in line with the regional scale Todi shear zone.
- The follow up drill program is expected to begin on the Todi Gold Project in roughly 2 weeks.
Zodiac Gold believes the interaction of these structural features, as well as the presence of favorable host rocks, provides potential for high grade gold mineralization as demonstrated by the recent rock chip samples and historical drilling results (reported in Zodiac's press release dated May 28th, 2024).
Map 1: Satellite data interpretation for the Alasala Target
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Map 2: Correlation of soil anomalism with topographical feature shown on SRTM data at Alasala. A) Soil sample results with satellite data interpretation. B) SRTM data with artisanal mining areas.
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Investor Relations Engagement
The Company is pleased to announce that it has retained the services of Peak Investor Marketing Corp. ("Peak") a full-service marketing and consulting services focused on the junior mining sector. Peak is an independent arms-length entity and will assist Zodiac Gold with marketing strategy and planning, corporate communications and public relations, with the goal of increasing market awareness for the company. Under the terms of the Agreement, the Company will compensate Peak $12,000 per month for an initial term of six months, will grant Peak 200,000 stock options pursuant to the Company's Omnibus Equity Incentive Plan and are subject to the approval of the TSXV. Following the initial term, the Company will pay Peak $12,000 per month. The options will have an exercise price of $0.18 per share and vest in four stages over a period of 12 months, with ¼ of the options vesting three months after the date they are granted and every three months thereafter. The options will remain exercisable until 90 days after the termination of the agreement with Peak, to a maximum of two years from the date the options are granted.
Qualified Person
Efdal Olcer, Vice President of Exploration at Zodiac Gold, is a member of the Society of Economic Geologists, Geological Society of London, Australian Institute of Geoscientists, the Society of Geology Applied to Mineral Deposits, and the Turkish Association of Economics Geologists and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.
For further information, please visit the ZodiacGold website at www.zodiac-gold.com or contact:
David Kol, CEO
info@zodiac-gold.com
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.
Forward Looking Information
This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.
Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214254
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Zodiac Gold Announces Upsizing of Private Placement
Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has increased the size of its previously announced offering of units of the Company (the "Units") on a non-brokered private placement basis. The Company now expects to complete the Offering for aggregate proceeds of up to C$1.2 million (the "Offering"), a 20% increase from the original target of up to C$1.0 million.
The Company completed an initial closing of the Offering for gross proceeds of approximately C$302,000 on May 23, 2024 and expects to complete a second closing in the coming days, with additional closings to follow as necessary. Completion of additional closings remains subject to the receipt of all necessary TSXV approvals.
Offering Terms
In connection with the Offering, the Company intends to issue up to 1,200,000 Units at a price of C$0.10 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share (a "Warrant Share") at an exercise price of C$0.20 per Warrant Share for a period of 24 months following the closing of the Offering.
The Company intends to use the proceeds from the Offering to continue exploration and drilling at its flagship Todi Gold Project in the Republic of Liberia, West Africa and for working capital purposes.
Finders
Subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company may pay finders' fees to certain eligible finders of up to 7% in cash of the gross proceeds raised in the Offering from subscribers introduced to the Company by such finders and up to 7% in finders warrants (the "Finder Warrants") of the aggregate number of Units placed by such finders. Each Finder Warrant will entitle the holder thereof to purchase one Unit at the Issue Price and will be exercisable for a period of 24 months from the closing of the Offering. Each Finder Warrant will be comprised of one Common Share and one Warrant.
Hold Period
The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws.
Insider Participation
Certain directors of the Company have acquired Units under the Offering. Such participation is considered to be a "related party transaction" as defined under the policies of the TSXV and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units acquired by the participating directors nor the consideration to be paid by such directors exceeds 25 percent of the Company's market capitalization.
About Zodiac Gold
Zodiac Gold Inc. (TSXV:ZAU) is a West-African gold exploration company focused on its flagship Todi Project situated in Liberia-an underexplored, politically stable, mining-friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 km2 land package. The project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts.
For further information, please visit the Zodiac Gold website at www.zodiac-gold.com or contact:
David Kol
President & CEO
info@zodiac-gold.com
Forward Looking Information
This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.
Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214253
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Silver North Announces Closing of First Tranche of Private Placement
(TheNewswire)
Vancouver, BC, June 21, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that further to its news release dated June 5, 2024, it has closed the first tranche (the " First Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $562,500.
In connection with the closing of the First Tranche the Company issued 2,500,000 charity flow-through units of the Company (the " CFT Units ") at a price of $0.225 per CFT Unit for gross proceeds of $562,500. Each CFT Unit is comprised of one common share in the capital of the Company (a " Share ") and one common share purchase warrant (a " Warrant ") of the Company, each of which will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the " Tax Act "). Each Warrant entitles the holder thereof to purchase one Share (a " Warrant Share ") until June 21, 2028 at an exercise price of $0.35 per Warrant Share.
"Management would like to thank those who participated this offering," stated Jason Weber, P.Geo., president and CEO of Silver North. "These funds allow Silver North to continue to build on high-grade silver targets such as the West Fault discovery at the Haldane Silver Project in Yukon's famous Keno Silver District."
The Company will use an amount equal to the gross proceeds from the First Tranche, pursuant to the provisions in the Tax Act, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act (the " Qualifying Expenditures ") related to the Company's projects in the Yukon, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the CFT Units effective December 31, 2024. If the Qualifying Expenditures renounced by the Company to the CFT Unit subscribers are reduced by the Canada Revenue Agency, the Company will indemnify each CFT Unit subscriber for any taxes payable by such subscriber.
In connection with the closing of the First Tranche the Company issued 105,000 finder's warrants (the " Finder's Warrants ") and paid a cash commission of $16,800 to certain arm's length finders, including Red Cloud Securities Inc., Glores Securities Inc. and Ventum Financial Corp. Each Finder's Warrant entitles the holder thereof to purchase one Share (a " Finder's Warrant Share ") at a price of $0.16 per Finder's Warrant Share until June 21, 2025. The Finder's Warrants issued in connection with the First Tranche are subject to a statutory hold period and may not be traded until October 22, 2024, except as permitted by applicable securities legislation.
The Company anticipates closing a second tranche of the Offering shortly, subject to customary closing conditions, including the approval of the TSX Venture Exchange (" TSXV "). The Company anticipates that the securities issued in subsequent tranches will be non-flow-through units of the Company (the " NFT Units " and together with the CFT Units, the " Offered Securities ") as more fully described in the Company's June 5, 2024 news release.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Offered Securities are offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issuable from the sale of Offered Securities to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.silvernorthres.com. Prospective investors should read this offering document before making an investment decision.
The securities described herein have not been, and will not be, registered under the U.S. Securities Act, as amended, or any state securities laws, and accordingly, may not be offered or sold within the United States or the US persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Silver North Resources Ltd.
Silver North's primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill Mine project), the Tim silver project (under option to Coeur Mining,
Inc. in the Silvertip/Midway District, BC and Yukon) and the GDR project also in the Silvertip/Midway district. Silver North also plans to acquire additional silver properties in favourable jurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol "SNAG", trades on the OTCQB market in the United States under the symbol "TARSF", and under the symbol "I90" on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807- 7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X:
LinkedIn: https://
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD- LOOKING STATEMENTS.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2024 TheNewswire - All rights reserved.
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Alma Gold Announces Private Placement
Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 6,000,000 units ("Units") to be issued at a price of $0.05 per Unit for gross proceeds up to $300,000 (the "Private Placement"). Each Unit will be comprised of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.08 for a period of three (3) years from issuance.
Proceeds received from the Private Placement will be used for general working capital purposes and to settle certain debts of the Company.
Finder's fees of cash and warrants issued on the same terms as above may be paid to qualified parties. All securities will be will be subject to a statutory hold period of four months and one day from issuance.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Alma Gold Inc.
Alma Gold Inc. is a gold-focused exploration company based in Bedford, Nova Scotia. Alma Gold Inc. through its subsidiary Karita Gold Corp. is exploring the Karita West Project and Dialakoro Project in northern Guinea and owns the Clarence Stream North Gold Project in southwest New Brunswick, Canada.
For more information on Alma Gold Inc., please visit our website at: https://almagoldinc.com.
On Behalf of the Board of Directors
"Gregory Isenor"
Gregory Isenor
President & Chief Executive Officer
Alma Gold Inc.
Email: gpisenor@karitagold.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Corporation's management's discussion and analysis as filed under the Corporation's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213973
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