Renforth Raises an Oversubscribed Total of $1,558,100

Renforth Raises an Oversubscribed Total of $1,558,100

(TheNewswire)

Renforth Resources Inc.

November 23, 2022 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") announces that the previously announced private placement has closed oversubscribed, with a total of $1,558,100 gross funds raised in a combination of flow through and non-flow through funds.  The Company has closed the final tranches of the previously announced non-brokered private placement for additional gross proceeds of C$869,300 from the sale of 580,000 non-flow through units of the Company at a price of C$0.035 per unit and 21,225,000 flow-through units of the Company at a price of C$0.04 per flow-through unit. Each non-flow through unit consisted of one common share of the Company and one common share purchase warrant. Each flow through unit consisted of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.06 for a period of 24 months following the distribution date. In connection to this tranche of the financing, the company paid a cash commission of $44,850 and issued 1,207,000 finders warrants. The finders warrants are exercisable at a price of C$0.06 for a period of 24 months.

Renforth is currently drilling on the Company's wholly owned 330 sq km Surimeau District Property with the first drillhole at Lalonde almost completed, Prop5 as noted in the map below. Logging of the first half of the drill hole records visual mineralization near the top of the hole, as anticipated based upon mapping of the stripped area which the drill hole in undercutitng.


Click Image To View Full Size

Technical disclosure in this press release has been reviewed and approved by Brian H. Newton P.Geo, a "qualified person" pursuant to NI 43-101.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393

E: nicole@renforthresources.com

#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9

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About Renforth

Renforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km 2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.

In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.

Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws.  All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may', ‘will', ‘plan', ‘expect', ‘believe', ‘anticipate', ‘estimate', ‘intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

Copyright (c) 2022 TheNewswire - All rights reserved.

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Renforth Resources Exhibiting at PDAC Booth #2136

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(TheNewswire)

Renforth Resources Inc.

February 23, 2023 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) (" Renforth" or the "Company") would like to invite interested parties to visit our booth, #2136, during the Prospectors & Developers Convention in Toronto, Ontario to be held at the Metro Convention Centre March 5-8, 2023.

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(TheNewswire)

Renforth Resources Inc.

November 27 th 2022 TheNewswire Pickering, ON - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to advise shareholders that channels cut within the 3 stripped trenches at Lalonde, which are being undercut in the current drill program, did intersect surface battery metals mineralization as measured in the field and confirmed by the assay laboratory.

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The 16.3 gpt Au sample corresponds to a 10 cm quartz vein in an old pit and stripped area, 35 meters northeast of a 2012 sample which returned 14.4 gpt Au. Additional sampling 100 meters further south yielded gold results up to 892 ppb Au from intermediate schist with quartz-ankerite veining in outcrop, 25 meters west of a 2012 sample which returned 462 ppb Au. An angular boulder of intermediate schist with quartz veining 45 meters east of the 2012 sample returned 110 ppb Au. See Figure 1 for thematic Au results across the property to date, and Table 1 below for sample descriptions and all Au results from the site visit.

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(TheNewswire)

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Vertex Minerals Limited  Quarterly Activities Report

Vertex Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) has identified major benefits for utilising pre-concentration technology at its Reward high grade gold mine.

Ore sorting pre-concentration test work was initiated with leading ore sorting provider TOMRA with outstanding results.

94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results were reported;

- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,

- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),

- Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),

- Gold lost to waste fraction = 0.03grams (>90% efficiency)

Refurbishment of the plant is well underway, and Vertex anticipates that the plant will be re-installed at Hill End later this year. The Company anticipates production will commence in January 2025.

Vertex acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource.

ORE SORTER TEST WORK AND IMPLEMENTATION INTO THE HILL END GRAVITY PLANT

Pre-concentration technology initiated at the Hill End Gravity Plant to separate highgrade ore from waste before it enters the processing plant.

By processing only high-grade ore, energy consumption can be reduced, water consumption will be halved leading to lower operating costs and reduction of the carbon footprint.

The small sorting unit will be simply incorporated in the existing plant being refurbished by Gekko.

Previous scoping test results from TOMRA suggested that the Greywacke country rock can be efficiently and effectively separated from the high-grade quartz carrying the gold leading to significant head grade uplift and reduced material to be processed.

Test Results

94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted.

The following results are reported;

- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,

- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),

- Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),

- Gold lost to waste fraction = 0.03grams (>90% efficiency)

ACQUISITION OF A LM90 UNDERGROUND DRILL RIG

Vertex has acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource.

The Vertex team are planning diamond drill programs for the following:

- Below the current JORC-2012 Reward Resource with the aim of expanding upon the existing resource;

- Fosters Exploration Target; and

- South Star prospect area

Acquisition of the LM90 follows an extensive review of the mineralisation potential below the Reward resource, which has only been drilled up to 50m below the Amalgamated Adit. This area targeted is referred to as the 'Reward mid depths' as it is located just 80m to ~200m below the Amalgamated Adit. Refer to Figure 1*

Upon commissioning of the LM90 drill rig, Vertex have planned eight drill holes to target the high-grade Fosters Exploration target.

The LM90 has several advantages well-suited to Vertex's requirements, including:

- The ability to work on surface and underground;

- Safe, Semi-automated, with a rod-handler system which allows for less manual handling;

- Allows greater flexibility in drilling over a number of resource and exploration areas; and

- LM 90 rigs are well-established in the industry as safe and reliable underground drill rigs.

Vertex acquiring its own rig has many advantages;

- Per-metre drill costs will be significantly less than hiring an external drill contractor

- More control and accuracy over precision of drilling.

- Works well with Job sharing

- Reduces pressure on Mining crew to have drill cuddy availability

- The LM90 rig will be accounted for as an asset on the Vertex balance sheet

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/CHF6G92O



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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