Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has completed an extensive exploration program on six of the company's projects in the Golden Triangle of northwestern British Columbia (see Map 1). Field work by Romios' crew began in early July and continued until mid-September. Assay results are now being received and compiled, and will be reported on when complete. Field observations on some of the claim blocks are very encouraging, particularly those from the Trek South Porphyry Cu-Au-Ag prospect. Many of Romios' projects in the Golden Triangle are close to the giant Galore Creek porphyry Cu-Au-Ag project held by a Teck-Newmont JV (GCMC) and currently in the final stages of a pre-feasibility study.
Romios Gold Resources (TSXV:RG, OTCQB:RMIOF, Frankfurt:D4R) focuses on gold, silver and copper assets in the United States and Canada and prioritizes exploration programs on its two Nevada projects.
The company fully owns two promising assets in Nevada: the Scossa Project (Gold) and the Kinkaid Project (Gold-Copper-Silver). Romios has recently re-focused its efforts on these core assets while still continuing exploration in British Columbia and Ontario, and opening discussions with potential investment partners for these large-scale exploration assets.
In Canada, Romios Gold Resources’ land package includes 10 claim blocks covering over 400 km2 adjacent to the giant Galore Creek copper-gold-silver porphyry project co-owned by Trek and Newmont in the famed Golden Triangle of British Columbia. Two priority targets included here are the TREK South and JW copper-gold porphyry prospects.
Company Highlights
- In 2022, Romios Gold Resources (Romios) undertook an audit of its significant portfolio of North American exploration assets and concluded that it was in the company’s best interests to focus its efforts on two promising, 100-percent-owned, assets in Nevada including:
- The Kinkaid Project, which includes 109 claims with more than 13 historic mine workings and prospects as well as significant blue-sky exploration potential for copper/gold/silver.
- The Scossa Project, which covers a high-grade gold mine that was in production from 1930 to 1941. The company’s past drilling intersected Bonanza Grades including 3.35 m @ 180.2 g/t Au, 4.02 g/t Ag; 1.98 m @ 268 g/t Au, 21.8 g/t Ag; and 1.51 m @ 62.49 g/t Au, 73.4 g/t Ag.
- Romios also has 100 percent ownership of extensive claim holdings covering several significant copper-gold porphyry prospects in the “Golden Triangle” of British Columbia, and additional exploration assets surrounding Newmont’s Musslewhite mine in Ontario.
- Romios is led by a strong management team composed of experts in exploration, corporate management and joint ventures.
This Romios Gold profile is part of a paid investor education campaign.*
Romios Gold Resources
Overview
Inflationary pressure has affected most markets, and gold was not immune from its effects. Despite gold prices stabilizing from a 19-month high in March 2022, analysts expect gold's global supply and demand to remain robust through 2026. Richard Kiyosaki, famed author of “Rich Dad, Poor Dad,” projects gold to reach upwards of US$5,000 over the next five years.
On the supply side, mining jurisdictions play a vital role in the success or failure of a mining project. A mining-friendly jurisdiction with a government and community that supports the industry creates a stable environment for projects to reach their full potential. Conversely, unfriendly jurisdictions can create endless hurdles and challenges, leaving impressive projects unable to reach full development. Nevada has once again earned a top spot on The Fraser Institute’s list of the top mining jurisdictions in the world. Nevada ranked in the top 10 on both of Fraser’s important lists: Investment Attractiveness and Policy Perception.
Romios Gold Resources (TSXV:RG, OTCQB:RMIOF, Frankfurt:D4R) is a North American exploration mining company focused on gold, silver and copper assets in the United States and Canada. The company recently shifted priority towards exploration programs on its two Nevada projects.
The company is led by an experienced team focused on unraveling the geological setting of the mineralization on each project through careful geological mapping, and the application of modern geophysical and geochemical techniques in order to increase the understanding and potential of each asset. Many of the Nevada targets were poorly understood due to their atypical geology, underexplored in terms of modern exploration techniques, and were mined for different commodities other than copper-gold-silver. All of these factors suggest the properties have not been tested for their true potential, and significant blue-sky opportunities for increased value are present.
The company fully owns two promising assets in Nevada: the Scossa Project (Gold) and the Kinkaid Project (Gold-Copper-Silver). Romios has recently re-focused its efforts on these core assets while still continuing exploration in British Columbia and Ontario, and opening discussions with potential investment partners for these large-scale exploration assets.
In Canada, Romios Gold Resources’ land package includes 10 claim blocks covering over 400 km2 adjacent to the giant Galore Creek copper-gold-silver porphyry project co-owned by Trek and Newmont in the famed Golden Triangle of British Columbia. Two priority targets included here are the TREK South and JW copper-gold porphyry prospects.
An experienced management team leads the company with a scientific approach to mineral exploration and a dedication to open engagement with First Nations and Indigenous communities. Stephen Burega, CEO and President, has significant experience managing natural resources projects, negotiating joint ventures and fundraising. John Biczok, Vice-President Exploration, is a professional geologist with over 40 years in the mineral resources industry. A longstanding and experienced board of directors brings additional experience in geology, property acquisition, business administration and international law.
Company Highlights
- In 2022, Romios Gold Resources (Romios) undertook an audit of its significant portfolio of North American exploration assets and concluded that it was in the company’s best interests to focus its efforts on two promising, 100-percent-owned, assets in Nevada including:
- The Kinkaid Project, which includes 109 claims with more than 13 historic mine workings and prospects as well as significant blue-sky exploration potential for copper/gold/silver.
- The Scossa Project, which covers a high-grade gold mine that was in production from 1930 to 1941. The company’s past drilling intersected Bonanza Grades including 3.35 m @ 180.2 g/t Au, 4.02 g/t Ag; 1.98 m @ 268 g/t Au, 21.8 g/t Ag; and 1.51 m @ 62.49 g/t Au, 73.4 g/t Ag.
- Romios also has 100 percent ownership of extensive claim holdings covering several significant copper-gold porphyry prospects in the “Golden Triangle” of British Columbia, and additional exploration assets surrounding Newmont’s Musslewhite mine in Ontario.
- Romios is led by a strong management team composed of experts in exploration, corporate management and joint ventures.
Key Projects
Kinkaid Gold-Copper-Silver Project
The Kinkaid Project is located in Mineral County within the Walker Lane Trend and is 18 kilometers east of Hawthorne, Nevada. The claim block is made up of 109 claims covering 2,252 acres, with numerous historic mine workings and prospects across the property, including:
- Multiple epithermal gold-silver-copper+/-barite vein deposits on the southern and central claims, commonly high-grade.
- At least four skarn prospects on the northern claims, apparently mined for tungsten, gold, silver and molybdenum in the past.
- Untested potential for a disseminated replacement style orebody on thrust faults beneath the two major gold-silver vein deposits, similar to the nearby Isabella-Pearl mine.
Multiple samples of quartz vein material collected from the Kinkaid Project in 2022 returned elevated gold values from 0.48 g/t gold to 33.7 g/t gold; silver values from 1 g/t silver to 1,725 g/t silver (55 oz/t silver); and copper values from 0.55 percent copper to 7.39 percent copper.
Romios Gold Resources is currently undertaking a detailed geological mapping and sampling program across the Kinkaid property, as well as a drone magnetic survey of the northern claims, with diamond drilling of several showings anticipated in 2023.
Romios Gold President and CEO Stephen Burega shared, “We are very excited by these high-grade gold, copper and silver assays and the local abundance of bismuth, antimony and mercury in the numerous gold bearing veins recently identified on the southern claims of the Kinkaid property.”
Project Highlights:
- Unrealized Potential: Many of the claims throughout Kinkaid have unrealized potential due to low precious metal prices when they were previously explored. Additionally, previous owners targeted different metals during exploration programs conducted decades ago.
- Variety of Significant Targets: The Kinkaid Project includes numerous individual targets that warrant additional exploration campaigns, and the company continues to identify new and previously unrecorded former workings across the entirety of the project area.
Scossa Historic Gold Mine Project
The Scossa Gold Project is located in Pershing County, Nevada, at the intersection of the prolific Sleeper & Rye Patch Trends, and covers a former-producing, high-grade gold mine that was in production from 1930 to 1941. The project is eight miles southeast of the Hycroft Gold Mine, which has an estimated gold resource of 9.65 million ounces measured and indicated.
Scossa was an underground mine during the 1930s before it was shut down during WWII. It was explored to a limited degree historically but has yet to be explored using modern, leading-edge technologies or ore deposit models that are critical to successful exploration of deposits like this. Past production was from five epithermal veins in faults up to 6 ft. wide with an average grade of over 1 oz/t gold. Some ore was so rich it was stored in the bank vault in Lovelock. Historic production was limited to the upper 400 ft. while the geology of similar deposits nearby suggests there should be 1,000 ft. of potential ore left beneath old workings. Some additional veins that were never tested by drilling are now known.
Romios Gold Resources completed a series of drill campaigns in the early 2000s with some spectacular results, including diamond drill holes which returned assays up to:
- 3.35 m @ 180.2 g/t gold, 4.02 g/t silver
- 1.98 m @ 268 g/t gold, 21.8 g/t silver
- 1.51 m @ 62.49 g/t gold, 73.4 g/t silver
According to VP for Exploration John Biczok, “Epithermal gold-silver veins like those at the Scossa property typically form when hydrothermal ore fluids under pressure begin to boil as they rise to an elevation shallow enough to overcome the hydrostatic pressure.” He further explained, “Changes in the fluid due to boiling cause the gold and silver to precipitate and it can then be carried upwards in finger-like shoots at various intervals along the veins. These shoots can be very high-grade and it is important to determine where the mineralized shoots are versus the low-grade background vein material.”
Project Highlights:
- Unique Gold Belt Intersection: The Scossa Project is located at the intersection of two major gold belts: the Sleeper Trend and the Rye-Patch Trend, creating a unique and underexplored opportunity.
- Past mine production: From 1930 to 1941, average grade was over 1 oz/t gold, was mined from five epithermal veins down to a maximum depth of 400 ft, leaving significant potential down to 1,500 ft. level for continued mineralization.
- Future Exploration Campaigns Planned: Romios has planned work scheduled throughout 2023, including determining boiling zone levels in relation to the central veins, exploratory short-hole drilling to confirm gold-silver zones, and further isolating the best intercepts for further exploration.
Canadian Exploration Projects
Romios Gold Resources’ Nevada projects are its flagship assets, but the company is also simultaneously carrying out exploration campaigns on its Canadian projects. These projects are located in British Columbia and Ontario.
Project Highlights:
- British Columbia Projects: The company’s primary prospects are the TREK and JW copper-gold porphyry targets. In total, Romios Gold has 10 claim blocks covering over 400 square kilometers in the “Golden Triangle” of British Columbia. Following the 2021 discovery in TREK South, the company completed an IP/MT program in 2022 to better delineate this unexplored porphyry system with tremendous blue sky potential.
- Northwest Ontario Projects: Five projects throughout the Archean North Caribou Lake greenstone belt have produced promising early exploration results and are immediately along strike from Newmont’s giant Musselwhite gold mine in Ontario, which has produced over 5 million ounces of gold. These projects capitalize on the rare opportunity presented by an entire underexplored greenstone belt containing only one active mine.
Management Team
Stephen Burega - President & CEO
Stephen Burega has been in management and operations in the mining and natural resources sectors for the past 13 years and also has extensive experience in corporate development and fundraising, joint venture due diligence and negotiations, and management of public markets. His deep emerging markets background, along with a strong understanding of stakeholder management, social development, and structured community engagement and programming positions him well to lead Romios’ First Nations community engagements. His eight years of corporate communications and media relations, coupled with extensive issues management experience, are additional assets to be leveraged as Romios builds towards the future.
John Biczok - VP Exploration
John Biczok, P. Geo., is a professional exploration geologist with over 40 years of experience in a wide range of ore deposit types, including many that are relevant to Romios' various mineral properties such as copper-gold skarns, massive sulphides, shear-hosted gold, iron formation-hosted gold and various exhalative type deposits (lead-zinc, barite). Biczok began work with Romios in August 2016 as a consultant in charge of the Lundmark-Akow Lake drill program in northwestern Ontario. His interpretation of the geology in those drill holes led to a new genetic model for the copper-gold mineralization and the subsequent discoveries of the first base metal massive sulphide and high-grade gold zones in the area. Before joining Romios, he worked at Goldcorp's (now Newmont) Musselwhite gold mine (18 km south of the Lundmark-Akow Lake property) for 12 years, most recently as senior exploration geologist and senior research geologist. Prior to this, he led Phelps Dodge Exploration's copper, gold and lead-zinc exploration efforts in India from 1999 to 2002, and worked for a number of mining companies in western Canada, including Mattagami Lake Exploration, Noranda Exploration and Manitoba Mineral Resources managing exploration programs for base metals, gold and nickel. Among his achievements with these companies was the discovery of a new ore zone at Musselwhite, initiation of the work that led to the discovery of the past-producing Brewery Creek gold deposit in Yukon, and leading the team that discovered the Monument Bay gold deposit in northern Manitoba.
Frank van de Water, CPA, CA - COO, CFO, Secretary & Director
Frank van de Water holds a B.Comm. from Concordia University, Montreal, and is a member of the Canadian Institute of Chartered Professional Accountants. He has had a 40-year career in financial roles with a variety of companies including a multinational mining, metal processing and metal trading company, and extensive experience with mining companies operating in Canada, Africa and Europe, all listed on the TSX, TSXV or LSE. He has held the positions of controller, VP finance, CFO and president at various times, and was the finance director of a large metal dealer on the London Metal Exchange. Van de Water is also a director at five other public companies.
Romios Gold Completes IP-MT Survey on Trek South Target and Reports on 2022 Exploration Programs in The Golden Triangle, BC
Romios' VP of Exploration Mr. John Biczok, P. Geo, commented, "we are very pleased that the first ever IP-MT survey has been successfully completed on the Trek South porphyry Cu-Au-Ag prospect, and a 3D model is now being generated of this significant target. Romios' 2022 work in the Golden Triangle also resulted in the discovery of numerous, often substantial, quartz veins near historic gold showings on several properties and we look forward to receiving and evaluating those results soon."
Stephen Burega, President and CEO, stated, "The 3D modelling will be key to opening conversations with potential funding partners for the Trek South prospect. Management has been cultivating numerous contacts to initiate their review/assessment of the potential at Trek South. We are looking forward to correlating these results with the mineralized surface exposures, and to sharing more in the near future once the modelling is competed."
Highlights:
- Trek South: An ALPHA IPTM survey totalling 5.6 km was completed by Simcoe Geoscience on 3 lines up to 2.3 km long across the >1 km wide, locally mineralized Trek South porphyry-style alteration system. The IP survey was designed to detect potential sulphide mineralization to a depth of ~600 metres. After an initial inspection of these results the go-ahead was given for a Magnetotelluric Survey (MT) along one of the IP lines. MT is capable of detecting mineralization well beyond the limits of the IP survey, to depths >10 km. The combined IP-MT results are now being processed and interpreted in detail by Romios' consulting geophysicists and will be reported on separately in the near future. Our partner, Simcoe Geoscience, is currently working on 1D and 2D modelling from the IP, and Phoenix Geoscience is preparing the 3D modelling.
- North East Claims:Located 300 metres north of the Galore Creek access route and
- Burt Claim: An initial field visit was made to Romios' new BURT claim located 4 km south of the historic Johnny Mt. gold mine and 8 km SW of the old Snip gold mine. The claim covers a number of old showings including the "Burton", a 5 metre wide quartz vein that has assayed up to 4 g/t Au and 72 g/t Ag in limited historic sampling. Due to weather conditions, the crew was unable to access this particular showing but mapping and sampling to the west located a number of copper-bearing quartz veins. Assays are pending.
- Rugged Claim: A brief field visit was also made to Romios' new RUGGED claim located 70 km north of Galore Creek and 25 km SW of the community of Telegraph Creek. The claim covers ~one-half of a 4 km wide syenite-pyroxenite intrusion believed to be a prime target for an alkalic porphyry Cu-Au-Ag-PGE system. Previous workers have located Cu-Au-Ag-PGE mineralization here assaying up to 3.2 g/t Au, 1.97% Cu, 10 g/t Ag and 1.36 g/t Pt+Pd. Romios' examination of the claim was cut short by incoming bad weather but copper stained pyroxenite was located and sampled (0.2% Cu and 0.17 g/t Au). A thorough exploration program is considered warranted here.
PHOTO 1: Chalcopyrite (copper sulphide) covered fractures on boulder along Trek South IP survey line.
To view an enhanced version of Photo 1, please visit:
https://images.newsfilecorp.com/files/5376/138858_photo1rg.jpg.
North West Claims: Located 10 km west of Galore Creek, they were explored to follow-up the discovery of gold bearing quartz veins in 2021 (5 - 9 g/t Au) and 2010 (16.5 g/t Au). Numerous additional veins were located at this latter site and several large veins up to 1.2 m wide were discovered elsewhere this season, some with visible copper mineralization. Assays are pending.
- Red Line Claims: An extensive mapping and sampling program was undertaken on Romios' Red Line claims located 32 km north of the historic Eskay Creek Au-Ag mine and believed to be within the same geological setting. This work was financed by Copperhead Resources which has an option to earn a 75% interest in the property. The mapping was conducted by an expert in the local stratigraphy and his report is expected shortly.
PHOTO 2: Newly discovered copper-stained quartz vein, ~70 cm wide, North West Claims
To view an enhanced version of Photo 2, please visit:
https://images.newsfilecorp.com/files/5376/138858_photo2rg.jpg.
Burega continued, "the discovery of additional quartz veins of substantial size on the North West claims in the vicinity of historic showings was another highlight of the summer program. Romios personnel also completed several weeks of exploration work on three of our projects in NW Ontario and a summary of that work will be forthcoming shortly."
QA/QC
The samples discussed in this document were grab and chip samples considered representative of the outcrops, veins and boulders being sampled. They were submitted to the ISO/IEC 17025 accredited ALS Canada Ltd. laboratories in Terrace and Vancouver, BC for assay and multi-element analyses. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results by inserting alternating blanks and commercial assay standards at every 10th position in the sample series.
Map 1: Location of Romios' projects in the Golden Triangle, NW British Columbia
To view an enhanced version of Map 1, please visit:
https://images.newsfilecorp.com/files/5376/138858_map1rg.jpg.
Qualified Person
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious-and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and the Scossa mine property (Nevada) which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Project in BC.
For more information, visit www.romios.com
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President - 647-515-3734 or sburega@romios.com
John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@romios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138858
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Romios Retains Stirling Merchant Capital and Natrinova Capital as Investor Relations Consultants
Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it has retained Robert Samuel Grier of Stirling Merchant Capital Inc. (the "Stirling"), as an investor relations consultant to provide communication and marketing services. Stirling will be paid $3250 per month for each month that investor relations services are provided by Stirling. In addition to the foregoing stock option grants, Stirling will be granted 300,000 stock options exercisable at $0.05 for up to three years. Neither Stirling nor its principal, Sam Grier, own any securities of the Company directly or indirectly or have any intention to acquire any securities of the Company except for the exercise of stock options.
Stirling Merchant Capital, a Calgary based Investor relations company, was founded by Sam Grier, BA Econ., who has been in the Investor Relations business for over 20 years. He has conducted successful in person road shows all across Canada and has built solid relationships with Investment Advisors, Accredited investors, analysts & small cap fund managers in the Canadian Investment community. Sam is also a member of the Mineral Exploration Group (Calgary).
The Company is also pleased to announce that it has retained Natrinova Capital Inc. ("Natrinova") as an investor relations consultant to provide communication and marketing services. Natrinova will be paid $3250 per month for each month that investor relations services are provided by Natrinova. In addition to the foregoing stock option grants, Natrinova will be granted 300,000 stock options exercisable at $0.05 for up to three years. Neither Natrinova nor its principal, Natalya Tararinova, own any securities of the Company directly or indirectly or have any intention to acquire any securities of the Company except for the exercise of stock options.
Natrinova Capital Inc. is a boutique Investor Relations firm focused on junior companies and penny stock in the public markets. Built on 30+ years of strong relationships we provide a personal approach to all our clients. We have built strong relationships with brokers, analysts & fund managers across the country and have conducted road shows for TSX & TSX.V listed companies in both large & small Canadian cities.
The engagements of Stirling and Natrinova are subject to TSX Venture Exchange ("TSXV") approval.
The Company wishes to announce that it has issued 5,550,000 options to the Company's directors, officers and consultants. The options are exercisable at a price of $0.05 for a period of five years. The grant is subject to acceptance by the TSXV.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious-and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and the Scossa mine property (Nevada) which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals Corp.s' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Project in BC.
For more information, visit www.romios.com
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President & CEO - 647-515-3734 or sburega@romios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135817
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Romios Announces Appointment of Stephen Burega as CEO
Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that Mr. Stephen Burega has been appointed CEO of the Company. Mr. Burega was appointed President of the Company in September 2021. Tom Drivas has resigned as CEO. The Board of Directors wishes to thank Mr. Drivas for his guidance and his service to the Company as CEO from its inception. Mr. Drivas will remain a director of the Company.
"Tom founded Romios Gold more than 27 years ago, and over the years, he did an exceptional job at identifying prime locations to accumulate sizeable exploration claim blocks in Canada and Nevada," stated Stephen Burega, President and CEO. He continued, "I want to thank Tom for all of his efforts and direction over the years in developing Romios and securing strong partnerships and assets."
He continued, "Plans are currently underway to move the Company's assets forward with a focussed effort to streamline our approach and to bring our Nevada assets to the forefront of future exploration activities. We are actively looking for strong partnerships for our core assets in British Columbia and Ontario. All exploration activities will be supported with a well-developed communications and marketing effort that began in early 2022 to re-introduce the Company to the investing marketplace."
Upon his resignation, the employment agreement with Mr. Drivas was terminated effective January 31, 2022 and the Company paid $144,000 on account of his accrued salary.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and the Scossa mine property (Nevada) which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals Corp.'s Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Project in BC.
For more information, visit www.romios.com.
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President - 647-515-3734 or sburega@romios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131005
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Romios Engages Simcoe Geoscience to Undertake an ALPHA IP Survey Across the Trek South Porphyry-Style Cu-Au-Ag System In the Golden Triangle, B.C.
Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has contracted Simcoe Geoscience of Stouffville, Ontario, to undertake a next-generation APLHA IPTM induced polarization geophysical survey across the 1 km wide Trek South porphyry Cu-Au-Ag target in the Golden Triangle of northwestern British Columbia (Map 1).
As reported in November 2021 (See news release, November 18), Romios' field work in the Trek South area over the past 2-3 years has discovered and partially delineated a >1 km wide zone of porphyry-style alteration and veinlet-hosted Copper-Gold-Silver (Cu-Au-Ag) mineralization. Simcoe's advanced IP technology is expected to detect key sulphide mineralization present below surface to depths of 550 to 650 m for drill targeting.
The IP survey is scheduled to begin in early July and will take approximately 7 days to complete, weather permitting.
Highlights:
- Romios' recent geological mapping and sampling programs have identified a >1 km wide zone of porphyry-style epidote alteration with a coincident >800 m wide zone of quartz-pyrite +/- chalcopyrite veinlets only recently exposed by the receding of a local glacier and snowfield.
- These 1-10 cm wide veinlets are often closely spaced enough to form stockworks and have assayed from trace up to 1.83% Cu, 2.3 g/t Au, and 257 g/t Ag with locally significant tellurium and bismuth values.
- The presence of the broad epidote (propylitic) alteration zone and the mineralized pyrite stockwork suggests that these exposures are adjacent to or overlying a porphyry Cu-Au-Ag system.
- The ALPHA IPTMsurvey will be conducted initially on 3 lines up to 2 km long across the centre of the alteration system. Additional lines may be surveyed based on the in-field results of these first lines.
- The length of the Alpha IP survey lines is strategically designed to enable detection of any sulphide mineralization up to 550-650 m below surface and beneath the pyrite stockwork cap.
- If time permits the survey may be expanded to include the first ever line(s) of IP across the core of the JW porphyry prospect located 6 km NW of the Galore Creek deposits. The margins of this 1 km wide pluton have known porphyry style mineralization and alteration but the core of the system has never been tested by geophysics or drilling.
"The upcoming IP survey over the Trek South porphyry target is a very important milestone for this project and could be a game-changer for Romios if it is successful in detecting sulphide mineralization at depth beneath the surface exposures," stated Stephen Burega, President. He continued, "we are also very keen to complete the first-ever IP survey over the core of the JW porphyry prospect if time permits. This site has both historic drill intersections of porphyry type mineralization and exposures of mineralization and intense alteration along the margin of the pluton, but the high potential centre of the pluton has never been tested. To have another such promising porphyry prospect so close to Galore Creek is an incredible asset for Romios."
BACKGROUND ON THE TREK SOUTH TARGET
Romios' TREK South claim block covers ~18 sq km of highly prospective ground known to contain at least 8 historic and underexplored Cu-Au-Ag showings in addition to the recently discovered porphyry-style alteration and mineralization. It is just 3 km from Romios' Trek North Zone, one of the few known and partially drill-defined porphyry Cu-Au-Ag zones in the area not held by the Teck-Newmont Galore Creek JV (Map 1). Both the Trek North and Trek South sites are within 1.4 km of the partly cleared road route to Teck and Newmont's enormous Galore Creek Cu-Au porphyry deposit(s) and just 13 km from the proposed Galore Creek mill site (www.gcmc.ca).
Following Romios' 2019 discovery of garnet-epidote-pyrite skarn veins on the Trek South claims (Photo #1), a hyperspectral survey of part of the target area in 2020 by HEG & Associates confirmed the presence of porphyry-type alteration minerals in two broad areas. Skarn zones are commonly developed on the margins of many porphyry copper systems and are especially prominent in many of the Golden Triangle deposits.
PHOTO 1 (Left): Close-up view of part of the extensive garnet-epidote-amphibole skarn network on the west margin of the Trek South porphyry system (red pencil magnet section is 7 cm long). PHOTO 2 (Right): Example of the mineralized pyrite +/- quartz veinlet stockwork at Trek South (hammer at top is approx. 81 cm long).
To view an enhanced version of Photo 1 and Photo 2, please visit:
https://images.newsfilecorp.com/files/5376/130246_e03d40056416692a_002full.jpg.
In 2021, Romios personnel undertook detailed mapping and sampling across part of the Trek South claims that until recently had been covered by relatively thin glacial ice and snowfields, resulting in the discovery of the porphyry-type mineralized and altered zone (see Photo #2). In addition, the 2021 survey partially defined previously unknown intrusions which may be related to the mineralizing event, as well as numerous boulder trains of massive epidote alteration, +/- local copper mineralization, apparently derived from an area still hidden beneath the glacier. Extensive areas of strong epidote alteration occur along ridges surrounded by snow and ice immediately south of the Trek South exposures and Cu-Au-Ag mineralized boulders have been found on the small glacier originating in this area. These areas remain to be mapped and sampled in 2022.
Map 1: Romios Gold' claim holdings and porphyry Cu-Au-Ag prospects in the Golden Triangle
To view an enhanced version of Map 1, please visit:
https://images.newsfilecorp.com/files/5376/130246_e03d40056416692a_003full.jpg.
QA/QC: The samples discussed in this document were grab and chip samples considered representative of the veins and boulders being sampled. They were submitted to the ISO/IEC 17025 accredited ALS Canada Ltd. laboratories in Terrace and Vancouver, BC for assay and multi-element analyses. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results by inserting alternating blanks and commercial assay standards at every 10th position in the sample series.
Qualified Person
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include the Kinkaid Nevada claims covering numerous Au-Ag-Cu workings and two former producers: the La Corne molybdenum mine property (Quebec) and the Scossa mine property (Nevada) which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals Corp.s' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Project in BC.
For more information, visit www.romios.com.
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President - 647-515-3734 or sburega@romios.com
John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@romios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130246
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Barksdale Resources Corp.
Overview
Barksdale Resources (TSXV:BRO,OTCQX:BRKCF) is a Canadian exploration company focused on the acquisition and exploration of highly prospective mineral properties in Arizona and Mexico. The company’s assets are centered in high-value mining districts where discovery and future consolidation potential is strong. Barksdale has spent years developing a loyal following, including key shareholders such as Teck Resources (TSX:TECK.A,NYSE:TECK) and Osisko Development Corp (TSX:ODV).
Barksdale’s flagship asset is the Sunnyside project, within a portfolio of five projects located in the Patagonia mining district of southern Arizona, which has seen a significant mineral discovery as well as US$1.6 billion of M&A since 2018. Following years of consolidation, Barksdale is now the second largest mineral claim holder in the area behind South32 (ASX:S32), and controls five projects including Sunnyside, San Antonio, Four Metals, Goat Canyon and Canelo. Barksdale has received the exploration permit for San Antonio, and is actively advancing exploration drill permits so that it can fully explore its Sunnyside project, where the company hosts a large copper porphyry and the extension of South32’s Taylor deposit.
Barksdale has completed its first drilling campaign at San Javier, an advanced copper-gold project in central Sonora, Mexico. The project is located within a kilometer of both the national highway and power grid and is less than a two-hour drive from the state capital of Hermosillo. With over $10 million of historical work including 30,000 meters of drilling conducted, Barksdale is now in the process of updating the resource estimate and a subsequent PEA to fast-track their San Javier project.
Copper is a key element in the manufacturing of many electrical products used across the world today. With increasing interest in renewable resources, which heavily depend on copper for the transmission of electricity, the demand for this resource only stands to increase. Barksdale’s portfolio of assets deliver investors catalysts at every stage of the copper mining life cycle from discovery, exploration and near term production.
Company Highlights
- Barksdale Resources CEO Rick Trotman has successfully acquired and integrated world-class properties; his integral experience and reputation has allowed him to recruit industry leaders and partners.
- Barksdale currently operates five key projects: Sunnyside, San Antonio, Goat Canyon, Canelo and the Four Metals projects in the Patagonia district, Arizona, as well as the San Javier project in Sonora, Mexico.
- Arizona is the heart of copper production in the US – 68 percent of all copper mined in America comes from Arizona. Most notable are the significant porphyry copper deposits found in Southern Arizona.
- Barksdale is actively permitting the Sunnyside project for exploration. The plan is to drill Sunnyside and San Antonio in tandem in Q1 2023.
- Teck Resources, US Global and Osisko Development Corp are key shareholders, with approximately 25 percent combined ownership
- Barksdale is actively reviewing and qualifying other properties as an ongoing strategy to increase shareholder value.
Key Projects
Sunnyside Project
The Sunnyside project is located in the Patagonia district of southern Arizona and is adjacent to South32’s development stage Hermosa project. The highly accessible project site covers approximately 21 square kilometers and hosts a large intrusive complex at its core. Historic drilling has indicated the presence of a large copper porphyry system at Sunnyside that also hosts associated skarn and manto mineralization that are rich in copper, lead, zinc and silver. Planned exploration of the project is expected to commence once exploration permits are obtained.
The Sunnyside project will likely prove to be one of the most exciting assets in Barksdale’s portfolio. The Sunnyside Porphyry was discovered by ASARCO in the 1970s and while looking for the edge of the porphyry the high-grade skarn system was discovered. Before Arizona Mining was purchased by South32, their drill rigs were systematically marching towards the property boundary where the high-grade discovery holes reside on the Sunnyside property. The Sunnyside porphyry itself sits entirely within the Barksdale claim position and is an incredible asset. Sunnyside is a site to watch for when the permit is granted.
Not only does the Sunnyside porphyry contain copper, it is also a major source of lead, zinc and silver. Seen in the above photograph are increasing levels of silver, copper and especially zinc, from TCH -1 and TCH -2 drill holes next to the property boundary. South32’s Hermosa project hosts one of the largest zinc deposits in the world, which sits next to Barksdale’s property.
San Javier Project
The San Javier project is located in Sonora, Mexico, approximately 125 kilometers east of the capital city of Hermosillo. The property consists of 12 distinct mineral concessions covering about 1,184 hectares of land. To date, multiple zones of copper mineralization have been identified. Due to the San Javier property’s lack of mining activities since 2008, Barksdale has a significant first-mover advantage for exploring the project and consolidating the district.
In addition to the oxide copper mineralization, highly prospective gold-dominant oxide and copper-gold sulfide mineralization at San Javier require additional investigation. Barksdale has completed a 5,000 m drill campaign at the project.
The San Javier project has shown mining and investor interest as multiple companies have previously explored the property, including Servicios Industriales Peñoles, Phelps Dodge, Outokumpu Oyj and Constellation Copper.
Historically, there has been roughly 30,000 meters of drilling completed in three separate zones, two of which are historically producing and contain high-grade copper and other precious metals. With these discoveries, San Javier has shown the potential to mimic the success of other high-profile copper mines in the area – the Sonora region is home to Cananea (Grupo Mexico, BMV: GMEXICOB), the largest copper mine in all of Mexico, and one of the largest in the world.
Barksdale’s objectives are clearly defined, and they are actively working on preparing an updated resource and subsequent PEA.
San Antonio Project
The San Antonio project is located in the Patagonia Mountains of southern Arizona. The company’s primary exploration focus at San Antonio is an untested, near-surface, blind porphyry copper target. Extensive geophysical research, including magnetics, IP, gravity and passive seismic have outlined a geophysical anomaly that has the hallmark signature of a porphyry copper deposit sitting beneath shallow, non-mineralized cover.
Barksdale has successfully obtained a drill permit on the San Antonio project, and intends to test the target in 2023.
With land for exploration spanning over 25.5 square kilometers, the project is favorably positioned in Patagonia’s rich mineral region and easily accessible to experienced workforces and necessary infrastructure.
The company owns 100 percent of the project, which was acquired from Teck Resources (TSX:TECK.A, NYSE:TECK).
Four Metals Project
The Four Metals project is situated on a 760-acre property surrounded by federal mineral claims held by South32. Like Barksdale’s other projects, this site is positioned in the Patagonia district of southern Arizona, approximately 4 kilometers south of the Sunnyside property.
The Four Metals property area covers the former Four Metals copper mine that has been past-producing and historically explored by several mining companies since the 1960s.
The mineralization also consists of supergene enriched chalcocite at the near-surface level, with a broad foundation of primary pyrite, chalcopyrite and molybdenite. Barksdale plans to test the Four Metals property further.
The company currently has an option to acquire a 100 percent interest in Four Metals from Minquest Ltd. and Allegiant Gold Corp.
Management Team
Rick Trotman - President & CEO
Rick Trotman is a professional geologist with a broad range of experience within the mining industry, having worked in both buy-side and sell-side positions and technically focused responsibilities with major mining companies. Trotman was previously with Resource Capital Funds, a leading mining-focused private equity firm. He was involved in executing a broad range of investments spanning the precious, base and minor metal spaces. Before Resource Capital Funds, Trotman worked as a mining industry equity research analyst in New York City and was an exploration geologist with leading gold producers such as Barrick Gold Corp, Meridian Gold Inc. and Yamana Gold Inc. in both the USA and Mexico. He holds a Master of Science in Economic Geology from the University of Nevada Reno and a Bachelor of Science in Geology from Washington State University.
Michael N. Waldkirch - CFO
Michael N. Waldkirch is a senior partner with the Public Accounting firm Michael Waldkirch and Company, Certified Public Accountants in Vancouver, BC. He has extensive experience in providing a wide variety of financial and business consultancy services to public and private companies. Waldkirch currently serves as the chief financial officer of TSX-listed Gold Standard Ventures. Waldkirch holds a Bachelor of Arts in Economics from the University of British Columbia and has been a certified public accountant since 1998.
Andrew Pooler - Senior Vice-President of Project Development
Andrew Pooler has more than 30 years of experience as a mining engineer and operations executive with numerous companies throughout the Americas. Pooler has had a tremendous track record of success that includes executive roles at Pan American Silver Corp, Esperanza Resources, Amax Gold Inc., Maritime Resources Corp, Abacus Mining and Exploration Corp, among others. He has extensive US and Latin American experience and has overseen the successful construction, expansion and/or operation of more than 16 mines, as well as completion of numerous technical and development studies. Pooler is also a current board member of the Colville Tribal Federal Corporation, a diversified company owned by the Confederated Tribes of the Colville Reservation in Washington state, a business that has more than 500 employees and over US$100 million in annual revenue.
Thomas Simpson – Senior Vice-President of Exploration
Thomas Simpson has more than 40 years of extensive mineral exploration and mining experience with base and precious metals in the US, Canada, Chile and Peru. Simpson has a strong track record of discovery, having successfully identified precious and base metal deposits in Canada and the US. His prior roles include Principal Geologist with Rio Tinto Exploration, Geology District Manager for Newmont Mining, and Exploration Manager for ASARCO, where he spent significant time exploring for copper porphyries in Arizona, including the Patagonia district where Barksdale’s key projects are located.
Terri Anne Welyki - Vice-President of Corporate Communications
Terri Anne Welyki has more than 15 years of experience working with public and private mining companies, including Calico Resources and EMC Green Group S.A. She has a broad knowledge of the mining industry, including financing, permitting and stakeholder management, and has worked across the United States, Peru and Canada.
Nancy Heiser - Director of External Relations
Nancy Heiser has many years of experience working in community and government relations in Southern Arizona. Heiser has extensive knowledge of stakeholder and constituent management as well as communications and public relations strategies. Before joining Barksdale, Heiser worked for Hudbay Minerals Inc. and led the community relations team for Congresswoman Martha McSally. Heiser’s background is in education with undergraduate and graduate programs in elementary and special education from Northern Arizona University.
Lewis Teal - Senior Consultant & QP
Lewis Teal is a certified professional geologist with more than 35 years of experience in minerals exploration spanning both North and South America. Lewis worked with Newmont Mining Corporation in various senior positions, including group executive at South American Exploration/Development from 2011 to 2015, director at South America Generative Exploration from 2006 to 2011, and exploration manager, Newmont – Minera Yanacocha from 2002 to 2006. Lewis holds a Master of Science in Economic Geology and a Bachelor of Science in Geology, both from the University of Texas at El Paso.
Peter Megaw - Senior Technical Advisor
Peter Megaw is a co-founder and chief exploration officer of Mag Silver Corp with more than 30 years of relevant experience focused on silver and gold exploration in Mexico. He has a Ph.D. in geology from the University of Arizona, and he is a registered certified professional geologist by the American Institute of Professional Geologists as well as an Arizona registered geologist. Megaw has been instrumental in several mineral discoveries in Mexico, including new ore bodies at existing mines such as Excellon Resources’ Platosa mine and MAG Silver’s Juanicipio and Cinco de Mayo properties. Megaw is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He is also the 2017 recipient of the prestigious Thayer Lindsley Award for mine finding from the Prospectors and Developers Association of Canada.
Kinross announces approval to increase normal course issuer bid as part of enhanced share buyback program
(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.)
Kinross Gold Corporation ("Kinross" or the "Company") (TSX: K, NYSE: KGC) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice filed by the Company to amend its normal course issuer bid ("NCIB") program effective as of October 4, 2022.
The amendment increases the maximum number of common shares that may be repurchased from 65,002,277 of its common shares (out of the 1,300,045,558 common shares outstanding as at July 27, 2022) representing 5% of the Company's issued and outstanding common shares, to 114,047,070 of its common shares, representing 10% of the Company's "public float" as at July 27, 2022.
Purchases under the NCIB began on August 3, 2022 and will end no later than August 2, 2023. Under its current NCIB, Kinross has repurchased for cancellation an aggregate of 14,657,908 common shares since August 3, 2022 through September 27, 2022.
The amendment to the NCIB is being made pursuant to the enhanced share buyback program announced by the Company on September 19, 2022 and is consistent with the Company's view that the market price of the common shares may not, from time to time, fully reflect their value, and accordingly, the purchase of the common shares would be in the best interest of the Company and an attractive and appropriate use of available funds. Kinross is committed to enhancing shareholder returns through programs such as a share buyback and its quarterly dividend, which are underpinned by the Company's investment grade balance sheet, strong free cash flow position and growing production profile from its global portfolio.
Kinross may make any purchases through the facilities of the TSX, the New York Stock Exchange (the "NYSE") and/or alternative Canadian trading systems, if eligible, or by such other means as may be permitted by the Ontario Securities Commission, Canadian Securities Administrators and applicable law. Daily repurchases on the TSX will be limited to a maximum of 1,158,750 common shares, representing 25% of the average daily trading volume for the six months ended June 30, 2022 (being 4,635,002 common shares), except where purchases are made in accordance with the "block purchase exception" of the TSX rules. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase. All shares purchased by the Company under the NCIB program will be cancelled.
Purchases will be made by the Company in accordance with the requirements of the TSX and/or the NYSE and the price which the Company will pay for any such common shares will be the market price of any such common shares at the time of acquisition, or such other price as may be permitted by the TSX and/or the NYSE. In connection with the amended NCIB program, the Company has entered into an amended automatic repurchase plan with its designated broker to allow for purchases of its common shares during certain pre-determined black-out periods, subject to certain parameters as to price and number of common shares. Outside of these pre-determined black-out periods, common shares will be repurchased in accordance with management's discretion, subject to applicable law.
Although the Company has a present intention to acquire its common shares pursuant to the NCIB program, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time.
About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Media Contact
Samantha Sheffield
Manager, Corporate Communications
phone: 416-365-3034
samantha.sheffield@kinross.com
Investor Relations Contact
Chris Lichtenheldt
Vice-President, Investor Relations
phone: 647-821-1736
chris.lichtenheldt@kinross.com
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of Kinross, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements contained in this news release, include, but are not limited to, those relating to potential purchases under the Company's NCIB. The words "anticipate", "continue", "estimates", "expects", "forecast", "guidance", "intends", "outlook", "progress", "potential", "prioritize", or variations of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result and similar such expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates, models and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2021, and the Annual Information Form dated March 31, 2022. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the inaccuracy of any of the foregoing assumptions. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross, including but not limited to resulting in an impairment charge on goodwill and/or assets. 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. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by this cautionary statement and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the "Risk Analysis" section of our MD&A for the year ended December 31, 2021 and the Annual Information Form dated March 31, 2022. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Source: Kinross Gold Corporation
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Barrick Closes Previously Announced Sale of Royalty Portfolio to Maverix Metals
All amounts expressed in US dollars
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) ("Barrick") today announced the closing of the previously announced sale of a portfolio of 22 royalties (the "Portfolio") to Maverix Metals Inc. ("Maverix"). Following the exercise by Skeena Resources Limited ("Skeena"), the operator of the Eskay Creek mine in British Columbia, of its buy-down right to acquire 0.5% of the 1.0% net smelter returns royalty on the Eskay Creek mine, Barrick has received total consideration equal to $50 million in cash in respect of the Portfolio. Barrick has the right to receive up to an additional $10 million from Maverix if certain conditions relating to the Portfolio are satisfied within six years of closing.
Barrick Enquiries:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
SEVP Strategic Matters
Kevin Thomson
+1 416 307 5150
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "will", "contingent", "if", "expecting" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the total consideration for the sale of the Portfolio, including the contingent payments.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the failure to satisfy the conditions to payment by Maverix of the contingent consideration; fluctuations in the spot and forward price of gold or certain other commodities; the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the jurisdictions where Barrick operates; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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