A gold-focused emerging gold producer with a clear pathway to production growth, Brightstar Resources presents a compelling investment case driven by its mining and development hubs strategy and a district-scale resource opportunity.
The price of gold stays strong. In April 2024, the yellow metal’s price passed US$2,400 per ounce for the first time. The reason is multifaceted. The world teeters on the brink of a severe recession while some markets attribute the increase to safe haven rush. Amidst ballooning interest rates, bank failures and falling bond yields, demand for gold continues to rise. At this precise moment, gold is simultaneously an excellent portfolio diversifier and a compelling hedge against ongoing inflation — particularly if one invests in the right company.
Brightstar Resources (ASX:BTR) aims to be that company. An emerging mining and development company, Brightstar occupies a strategic land position of roughly 1,200 square kilometers in the Sandstone Greenstone Belt, 300 square kilometers in the Laverton Tectonic Belt and 80 square kilometers of the Menzies Shear Zone.
The company also owns an existing processing facility that can potentially provide tremendous shareholder value in a low-capital cost restart scenario.
That plant, once fully refurbished and operational, could prove a key differentiator for the company, enabling fast gold production at a low capital cost. This is especially noteworthy given that many other gold companies trading on the ASX are largely focused on greenfield exploration and development. Even once those companies discover a promising resource, mining and processing facilities would still need to be built, undertakings which can incur significant upfront capital costs and take several years.
Brightstar's Laverton gold assets are all centered on a 100 percent-owned 300-square-kilometer tenure in the Laverton Tectonic Zone and all within 70 kilometers of the Laverton Processing Plant. Additionally, all resources within this zone are open along strike and at depth. Only minor drilling programs have been conducted in recent years, paving the way for significant exploration upside with the potential for further regional and greenfields discoveries.
Brightstar also owns 100 percent of the Menzies Gold Project, a contiguous land package of granted mining leases over a strike length of roughly 20 kilometers along the Menzies Shear Zone and adjacent to the Goldfields Highway.
In 2023 and 2024, the company announced a mineral resource upgrade to the Cork Tree Well deposit (Laverton gold project) and also delivered two maiden mineral resource estimates at the Link Zone and Aspacia deposits (Menzies gold project). This has grown the total group MRE by approximately 150 koz gold through organic exploration. Brightstar also recently announced the results from DFS-level metallurgical testwork programs at Cork Tree Well with returned recoveries over 90 percent, including a high gravity gold content, ranging from 25 percent - 60 percent.
The company has also acquired 100 percent of the shares and options of Linden Gold Alliance, a gold producer, developer and explorer with existing mineral resources of 350 koz @ 2.1 g/t gold near Brightstar in the Laverton district. Brightstar’s MRE has reached 1.1 Moz gold across the Menzies and Laverton projects, with an additional 0.35 Moz gold in resources added after the successful acquisition of Linden Gold Alliance.
In August 2024, Brightstar entered into a scheme implementation deed to acquire 100 percent of Alto Metals (ASX:AME), which owns the Sandstone gold project located in East Murchison. The project has a current mineral resource of 1.05 Moz of gold at 1.5 g/t.
Brightstar also completed the acquisition of the gold rights at the Montague East gold project (MEGP) from Gateway Mining Limited (ASX:GML). The project is located 70 km from the Sandstone gold project. The acquisition adds a further 9.6 Mt @ 1.6 g/t gold for 0.5 Moz gold to Brightstar’s JORC Mineral Resource Estimate, giving the company a total mineral endowment of 38.3 Mt @ 1.6 g/t gold for 2.0 Moz gold.
The acquisition of the MGEP from Gateway Mining and 100 percent of Alto’s shares creates a third district-scale resource base for the company called the Sandstone Hub. Upon consolidation of the Laverton, Menzies and Sandstone hubs, Brightstar’s mineral resources would reach 3 Moz at 1.5g/t gold.
Subsequent to the deal with Alto Metals, Brightstar entered into a $4 million drill-for-equity agreement with Topdrill to aggressively advance the consolidated Sandstone gold project. The deal strengthens Brightstar's financial capacity to fulfill its multi-hub exploration and development strategy, which includes the Menzies, Laverton and Sandstone hubs.
Brightstar’s Laverton hub is comprised of the Cork Tree Well, Beta and Alpha project areas with the addition of the Second Fortune gold mine and the Jasper Hills projects.
The Menzies Hub comprises a tenement holding of a contiguous land package of granted mining leases over a strike length of more than 20 km. The majority of deposits hosted along the Menzies Shear Zone are located adjacent to Goldfields Highway in Menzies (130km north of Kalgoorlie).
The consolidated Sandstone project is over 100 km from existing third-party milling operations in the Murchison. This third processing hub boasts Alto’s Sandstone project with a mineral resource of 1.05 Moz at 1.4 g/t gold and Gateway’s Montague gold project with a mineral resource of 0.5 Moz @ 1.6 g/t gold.
Brightstar aims to fast-track the development timetable through:
Situated close to Brightstar's existing mineral assets at Laverton, the Brightstar Processing Plant provides the company with a considerable operational head start over its peers.
Gold doré bars (BTR005 – BTR016) poured on 9 March 2024
Alex Rovira is a qualified geologist and an experienced investment banker having focused on the metals and mining sector since 2013. Rovira has experience in ASX equity capital markets activities, including capital raisings, IPOs and merger and acquisitions.
Richard Crookes has over 35 years’ experience in the resources and investments industries. He is a geologist by training having previously worked as the chief geologist and mining manager of Ernest Henry Mining in Australia.
Crookes is managing partner of Lionhead Resources, a critical minerals investment fund and formerly an investment director at EMR Capital. Prior to that he was an executive director in Macquarie Bank’s Metals Energy Capital (MEC) division where he managed all aspects of the bank’s principal investments in mining and metals companies.
Andrew Rich is a degree qualified mining engineer from the WA School of Mines and has obtained a WA First Class Mine Managers Certificate. Rich has a strong background in underground gold mining with experience predominantly in the development of underground mines at Ramelius Resources (ASX:RMS) and Westgold Resources (ASX:WGX).
Ashley Fraser is an accomplished mining professional with over 30 years experience across gold and bulk commodities. Fraser was a founder of Orionstone (which merged with Emeco in a $660-million consolidation) and is a founder/owner of Blue Cap Mining and Blue Cap Equities.
Jonathan Downes has over 30 years’ experience in the minerals industry and has worked in various geological and corporate capacities. Experienced with gold and base metals, he has been intimately involved with the exploration process through to production. Downes is currently the managing director of Kaiser Reef, a high grade gold producer, and non-executive director of Cazaly Resources.
Dean Vallve holds technical qualifications in geology & mining engineering from the WA School of Mines, an MBA, and a WA First Class Mine Managers Certificate. Vallve was previously in senior mining and study roles at ASX listed mid-cap resources companies Hot Chili (ASX:HCH) and Calidus Resources (ASX:CAI).
Emerging gold producer and district-scale resource developer in Western Australia
(TheNewswire)
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April 10th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.
Opawica to Present on the Emerging Growth Conference on Wednesday, April 16, 2025
Opawica invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation on the Emerging Growth Conference.
The next Emerging Growth Conference is presenting on Wedenesday April 16 th of  2025 . This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the CEO and President Blake Morgan in real time. Blake Morgan CEO and President will perform a presentation and may subsequently open the floor for questions.
Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Blake Morgan CEO will do his best to get through as many of them as possible.
Presentation link:
https://goto.webcasts.com/starthere.jsp?ei=1705403&tp_key=612b99c876&sti=opwef
Blake Morgan CEO and President states, "We are thrilled to be presenting at the Emerging Growth Conference live 3:10 - 3:20 Eastern Time on Wednesday, April 16, 2025. With Opawica's phase two drilling program underway, We are thrilled to give a update on our current drill program on the Bazooka property.. www.opawica.com
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on www.EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner. The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & amp, services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
Drilling Update
Of the ten drill holes collected, our team has successfully intersected the iconic Cadillac-Larder fault multiple times, revealing promising mineralization which underscores local understanding of mineralization patterns. The Cadillac-Larder Lake fault is a major structural element in the Abitibi greenstone belt, known for its rich mineralization and geological backbone supporting dozens of commercial mines in the region.
Sample drill hole OP-25-27 was completed at a depth of 171 m. Between 114 and 156.5 m, we intersected a fine-grained greenish-olive-grey rock. Serecite formation is present throughout, with localized occurrences containing fuschite and silicification pulses, slightly fractured except for a small area between 145.5 and 148.0 m, likely ultramafic, where two small shear zones are observed. Arsenopyrite is present at 1-2% up to 132 m, decreasing to trace levels beyond this depth. Fine pyrite occurs at 1-2% from 148 m onward, with local vein stockwork increasing to 15% from 152 m to 156 m. (see table below).
Opawica Exploration Drills 42.5 Meters of Mineralization on the Bazooka Gold Project in the Abitibi Gold Belt
The Company undertook XRF readings at the following points
Conversion factor-1 Part per million (ppm ) = 1 Gram/ton( g/ton )
118.50 m As 2.20%; Au 190 ppm; Ni 1,061 ppm; Cr 4,117 ppm
130.50 m As 795 ppm; Au 11 ppm ; Ni 643 ppm; Cr 2,475 Â ppm
143.95 m As 828 ppm ; Au 16 ppm; Ni 1,127 ppm; Cr 1,564 ppm
156.00 m As 354 ppm ; Au 8 ppm; Ni 458 ppm ; Cr 109 ppm
Conversion factor1 Part per million( ppm ) = 1 Gram/ton( g/ton )
X-ray fluorescence (XRF) is a non-destructive analytical technique used to determine the elemental composition of materials such as drill core. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. The results only provide an indication of the amount of minerals present. Certified assaying of the core samples is still required to accurately determine the amount of base metal and precious metal mineralization.
Mr.Yvan Bussieres, P.Eng. , Opawica's Geologist has reviewed and approved the technical content of this news release. The qualified person has been unable to verify the information on the adjacent
Properties
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
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1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB; OTCQB: AUMBF) is pleased to announce that the Company has completed the re-commissioning of the True North mine hoist system in the A Shaft and is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.
Highlights:
Over the last several months, the Company has worked closely with key contractors to re-commission the hoist system for the A Shaft, providing access to the True North underground mine. This included full inspection and testing of all mechanical, electrical, and shaft infrastructure to ensure safe and effective operation of the hoist. Tests completed included stress testing of the hoist cables, free fall (drop) testing of the conveyances with full anticipated loads, and testing of the software for control systems. Approval from the Mine Safety Administration was received in mid-March, and inspection and repairs to the A Shaft commenced on March 20, 2025 . On March 23, 2025 , the maintenance team gained access to Level 16 and completed a thorough inspection of the electrical connections and communications system.
On April 3, 2025 , a thorough inspection of Level 16 and Level 3 ( 122 m ) (used for the San Antonio West target) was completed to identify rehabilitation work that will be required. Based on this inspection, the Company plans to complete the necessary rehabilitation by late May, including re-aligning the rail tracking, re-establishing electrical and ventilation to key parts of the drift, and reinforcing areas where drill pads are required.
The lack of water on Level 26 ( 1,145 m ), the deepest level of A Shaft, is a positive development and will allow ready access to a significant portion of the current resource. This also expedites the Company's ability to target new resource expansion areas and commence redevelopment of the deeper portions of the mine.
Previously, on January 15, 2025 , the Company also opened and inspected the Hinge and Cohiba access declines. These declines also provide access to the 007, L-13 and L-10 deposits, key resource expansion areas.
"This achievement is a critical step forward for 1911 Gold in pursuit of our restart strategy." Shaun Heinrichs , President and CEO, stated, "With access to Levels 3, 8 ( 340 m ), and 16, we will be able to aggressively pursue our resource growth strategy with an efficient and productive drill program from the underground. We are now closer to some of the best targets in the underground mine and have easy access to both new targets we identified as well as infill and extensions to the 43-101 resource released on November 20, 2024 . This is the next phase for 1911 Gold, and our team is excited about the opportunity this presents."
On March 25, 2025 , Seok Joon Kim P.Eng ., an experienced underground mine engineer, joined the Company to work closely with Éric Vinet to build an underground mining strategy, support the exploration team, and oversee underground redevelopment activities.
Next Steps
With access to the underground now established, the Company will commence planning work for the rehabilitation of Levels 3, 8, and 16 in the underground to support future planned exploration. This will also facilitate the mine planning work underway, as the Company can inspect underground workings and determine development timelines and costs. Over the coming months, the Company expects to build a plan for future production that will be used to guide the underground drill targeting and assist in prioritizing target areas based on their near-term production potential, as well as define areas of significant resource growth.
Manitoba Mineral Development Fund
The Company is also pleased to report that it has been approved for a $285,636 grant from the Manitoba Mineral Development Fund ("MMDF") to support the 2025 drill program at the True North project in Manitoba, Canada .
Proceeds from this grant will go directly to fund the 2025 drill program that commenced in October 2024 , with a projected total of 30,000 meters of drilling within the mine lease area planned. This program continues to advance several new surface targets identified by 1911 Gold, based on the improved geological model developed in conjunction with the extensive work undertaken in 2024 to complete the mineral resource update (see news release dated November 20, 2024 ).
Deferred Share Units
The Company will also issue 125,000 deferred share units ("DSUs") to four directors under the LTIP in respect of Q1-2025 director fees. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake Greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company 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 in accordance with applicable securities laws.
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.
SOURCE 1911 Gold Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/09/c1593.html
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HIGHLIGHTS:
Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce additional results from a 12,500-metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.
Heliostar CEO, Charles Funk, commented, "Heliostar closed the first quarter of 2025 with a US$27M (C$38M) cash balance, over half of which was generated from operating profits. This places the Company in a strong position to achieve our planned production and resource growth goals. Today's results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high-grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report."
Drill Results Summary
Mineralization at La Colorada's Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized vein zones. The Creston Pit has historically mined oxide gold and silver from all three of these veins. A current Probable Mineral Reserve of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 5,074,000 ounces of silver at 10.1 g/t silver is defined at the Creston Pit1.
A technical review of expansion potential identified two opportunities for reserve growth. The near-surface extensions of known veins with little or no drill data and exploring the under-sampled mineralization beneath the pit. Both opportunities were defined using historical drilling, blast hole data, mining shapes, and the geological model.
Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and Heliostar drill holes.
Selected intercepts are labelled.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_003full.jpg
Figure 2: Cross-section view looking west at the western end of the Creston Pit. The section shows historic drilling and new Heliostar drill hole results below the planned pit boundary.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_004full.jpg
Blast hole data clearly shows the potential for a continuation of veins at shallow depths. They contain elevated gold grades that continue to the edge of the pit walls, where they remain open for expansion (Figure 1). At depth, drill spacing is wider than the area above. Additional drilling allows for improved estimation of grade and continuity.
The Company has completed seventy-two holes totalling 11,075 metres in the program to date. This release reports results for twenty-three new holes. The majority of the new drill holes targeted extensions of the North, Intermediate, and South Veins in areas where drilling is widely spaced yet within the current resource. They aim to add ounces to the overall El Creston resources and reserves.
Assay results show narrow to wide, low- to high-grade oxide gold intercepts. Targeted vein zones consistently return intercepts above the 0.16 g/t gold-equivalent cutoff grade of reserves within the Creston pit. The results may increase the tonnes and grade of mineralization in an updated pit shell. If so, that would add to the total reserves in an updated technical report.
Further, the success of the drill program to date has required modification of the remaining drill program plans. Numerous step-out drill holes have been added to follow-up on intercepts reported here. Results remain pending for these follow-up drill holes and are expected to be received in April and May.
Next Steps
Results from the current drill program are being incorporated into a resource model. They will support a reserve update to be published with a technical report in mid-2025.
This drill program is important because if it increases the volume of rock containing gold mineralization, it could improve the overall mine economics. Any zones of waste material with new gold intercepts from this program have the potential to reduce the overall strip ratio of the Creston pit expansion.
That, in turn, could reduce the up-front capital requirements for the restart and improve the economics of the Technical Report. This study will be the basis of a decision for the expansion of production at La Colorada.
The Company anticipates additional drilling results from the current program will be released in Q2, 2025.
La Colorada Mineral Reserves Statement
| Classification | Zone | AuEq Cut-off (g/t) | Tonnes (kt) | Gold Grade (g/t Au) | Silver Grade (g/t Ag) | Contained Gold (koz) | Contained Silver (koz) |
| Probable | El Crestón | 0.160 | 12,841 | 0.76 | 10.1 | 312 | 4,181 |
| Veta Madre | 0.175 | 1,905 | 0.70 | 3.1 | 43 | 189 | |
| La Chatarrera | 0.164 | 3,413 | 0.20 | 6.4 | 22 | 704 | |
| Total | 18,159 | 0.65 | 8.69 | 377 | 5,074 |
1. La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024.
Drilling Results Table
| HoleID | From (metres) | To (metres) | Interval (metres) | Au (g/t) | Ag (g/t) | % True Width | Comment |
| 24-LCDD-262 | 36.35 | 40.4 | 4.05 | 0.53 | 8.6 | 94 | South Vein |
| 24-LCDD-263 | Abandoned | ||||||
| 24-LCDD-264 | 165.05 | 178.4 | 13.35 | 0.34 | 43 | 74 | North Vein |
| 24-LCDD-265 | 8.35 | 11.1 | 2.75 | 0.34 | 6.2 | 28 | South Vein |
| and | 15.7 | 20.55 | 4.85 | 0.24 | 5.2 | 28 | South Vein |
| and | 76.9 | 92.3 | 15.4 | 0.19 | 2.8 | 44 | South Vein |
| 24-LCDD-266 | 22.3 | 28.95 | 6.65 | 0.50 | 2.5 | 82 | South Vein |
| 24-LCDD-267 | No significant intervals | ||||||
| 24-LCDD-268 | 15.85 | 28.1 | 12.25 | 0.40 | 4.8 | 15 | South Vein |
| and | 77.9 | 90.0 | 12.1 | 0.19 | 6.8 | 61 | South Vein |
| 24-LCDD-269 | 163.75 | 181.65 | 17.9 | 1.69 | 8.8 | 84 | North Vein |
| including | 167.7 | 172.3 | 4.6 | 5.78 | 16 | 84 | North Vein |
| 24-LCDD-270 | 24.55 | 33.4 | 8.85 | 1.89 | 82 | 89 | South Vein |
| including | 29.0 | 33.4 | 4.4 | 3.52 | 155 | 90 | South Vein |
| 24-LCDD-271 | 4.0 | 11.95 | 7.95 | 0.38 | 12 | 84 | Intermediate Vein |
| and | 50.0 | 58.85 | 8.85 | 25.0 | 768 | 71 | South Vein |
| 50.0 | 58.85 | 8.85 | 10.4 | 768 | 71 | Top-cut to 20 g/t gold | |
| and | 64.2 | 68.0 | 3.8 | 4.32 | 178 | 70 | South Vein |
| 24-LCDD-272 | 2.05 | 35.6 | 33.55 | 1.04 | 22 | 68 | Intermediate Vein |
| including | 6.0 | 8.85 | 2.85 | 6.10 | 135 | 68 | Intermediate Vein |
| and | 70.2 | 80.85 | 10.65 | 0.22 | 5.4 | 81 | South Vein |
| and | 90.8 | 94.3 | 3.5 | 5.41 | 88 | 79 | South Vein |
| 90.8 | 94.3 | 3.5 | 4.31 | 88 | 79 | Top-cut to 20 g/t gold | |
| including | 90.8 | 91.35 | 0.55 | 27.0 | 433 | 79 | South Vein |
| 90.8 | 91.35 | 0.55 | 20.0 | 433 | 79 | Top-cut to 20 g/t gold | |
| and | 103.65 | 104.4 | 0.75 | 10.3 | 255 | 79 | South Vein |
| and | 107.55 | 112.05 | 4.5 | 0.84 | 23 | 79 | South Vein |
| 24-LCDD-273 | 7.85 | 10.2 | 2.35 | 0.45 | 10 | 79 | Intermediate Vein |
| and | 48.0 | 69.75 | 21.75 | 2.37 | 62 | 87 | South Vein |
| 48.0 | 69.75 | 21.75 | 1.97 | 62 | 87 | Top-cut to 20 g/t gold | |
| including | 59.25 | 67.8 | 8.55 | 5.52 | 121 | 87 | South Vein |
| 59.25 | 67.8 | 8.55 | 4.50 | 121 | 87 | Top-cut to 20 g/t gold | |
| 24-LCDD-274 | 103.8 | 126.15 | 22.35 | 0.21 | 6.5 | 67 | North Vein |
| and | 137.4 | 147.6 | 10.2 | 0.39 | 6.4 | 67 | North Vein |
| 25-LCDD-275 | 20.4 | 23.35 | 2.95 | 2.07 | 166 | 75 | Intermediate Vein |
| and | 29.25 | 33.75 | 4.5 | 0.40 | 9.0 | 89 | Intermediate Vein |
| and | 88.85 | 101.85 | 13.0 | 0.57 | 8.8 | 42 | Intermediate Vein |
| and | 120.55 | 128.1 | 7.55 | 0.72 | 13 | 100 | South Vein |
| 25-LCDD-276 | 104.7 | 135.95 | 31.25 | 0.53 | 4.2 | 49 | North Vein |
| and | 155.15 | 170.25 | 15.1 | 0.45 | 2.4 | 49 | North Vein |
| 25-LCDD-277 | No significant intervals | ||||||
| 25-LCDD-278 | 6.25 | 9.0 | 2.75 | 1.06 | 63 | 100 | South Vein |
| and | 14.1 | 33.0 | 18.9 | 0.61 | 31 | 100 | South Vein |
| 25-LCDD-279 | 0.0 | 5.6 | 5.6 | 0.72 | 30 | 100 | Intermediate Vein |
| and | 62.0 | 83.85 | 21.85 | 0.63 | 9.6 | 99 | South Vein |
| 25-LCDD-280 | 130.05 | 135.6 | 5.55 | 0.26 | 57 | 88 | North Vein |
| and | 141.85 | 145.9 | 4.05 | 0.27 | 54 | 88 | North Vein |
| 25-LCDD-281 | Abandoned | ||||||
| 25-LCDD-282 | 11.15 | 16.5 | 5.35 | 0.67 | 39 | 33 | Intermediate Vein |
| 25-LCDD-283 | 60.5 | 66.2 | 5.7 | 1.51 | 20 | 90 | Intermediate Vein |
| and | 82.15 | 99.65 | 17.5 | 1.90 | 6.8 | 84 | Intermediate Vein |
| 82.15 | 99.65 | 17.5 | 1.53 | 6.8 | 84 | Top-cut to 23 g/t gold | |
| including | 89.05 | 91.95 | 2.9 | 10.5 | 15 | 84 | Intermediate Vein |
| 89.05 | 91.95 | 2.9 | 8.32 | 15 | 84 | Top-cut to 23 g/t gold | |
| and | 107.0 | 110.0 | 3.0 | 1.92 | 21 | 85 | Intermediate Vein |
| and | 127.0 | 132.5 | 5.5 | 11.1 | 23 | 88 | Intermediate Vein |
| 127.0 | 132.5 | 5.5 | 9.14 | 23 | 88 | Top-cut to 23 g/t gold | |
| and | 165.1 | 173.0 | 7.9 | 0.20 | 1.0 | 96 | South Vein |
| and | 179.95 | 191.85 | 11.9 | 0.23 | 2.2 | 96 | South Vein |
| 25-LCDD-284 | 52.0 | 61.0 | 9.0 | 1.87 | 3.2 | 84 | Intermediate Vein |
| including | 53.0 | 55.4 | 2.4 | 6.14 | 6.1 | 84 | Intermediate Vein |
| and | 69.2 | 74.6 | 5.4 | 0.52 | 3.2 | 84 | Intermediate Vein |
| and | 128.0 | 150.7 | 22.7 | 0.53 | 2.1 | 84 | South Vein |
| 25-LCDD-285 | 45.3 | 50.2 | 4.9 | 0.36 | 27 | 87 | Intermediate Vein |
| and | 79.45 | 100.75 | 21.3 | 0.28 | 9.8 | 84 | Intermediate Vein |
| and | 109.65 | 123.55 | 13.9 | 0.24 | 2.7 | 87 | Intermediate Vein |
| and | 130.15 | 140.1 | 9.95 | 0.38 | 5.0 | 99 | Intermediate Vein |
| and | 190.2 | 201.0 | 10.8 | 1.25 | 0.7 | 92 | South Vein |
| including | 199.05 | 201.0 | 1.95 | 5.94 | 1.1 | 94 | South Vein |
| 25-LCDD-286 | 38.05 | 43.8 | 5.75 | 4.72 | 10 | 92 | Intermediate Vein |
| including | 38.05 | 43.8 | 5.75 | 2.41 | 10 | 92 | Top-cut to 23 g/t gold |
| and | 67.5 | 95.45 | 27.95 | 0.35 | 7.7 | 95 | Intermediate Vein |
| and | 163.9 | 171.15 | 7.25 | 0.59 | 5.1 | 91 | South Vein |
| 25-LCDD-287 | 8.15 | 17.4 | 9.25 | 1.02 | 2.5 | 79 | Intermediate Vein |
| and | 28.05 | 39.7 | 11.65 | 0.63 | 6.3 | 74 | Intermediate Vein |
| and | 56.5 | 61.45 | 4.95 | 0.33 | 3.0 | 68 | Intermediate Vein |
| and | 116.0 | 146.75 | 30.75 | 0.18 | 1.4 | 86 | South Vein |
| 25-LCDD-288 | 13.4 | 17.0 | 3.6 | 0.46 | 15 | 91 | Intermediate Vein |
| and | 48.5 | 70.1 | 21.6 | 0.33 | 2.5 | 77 | Intermediate Vein |
| and | 120.75 | 125.5 | 4.75 | 0.58 | 1.0 | 99 | South Vein |
| and | 130.9 | 150.65 | 19.75 | 0.99 | 5.9 | 99 | South Vein |
| including | 132.0 | 133.1 | 1.1 | 10.1 | 50 | 99 | South Vein |
| 25-LCDD-289 | 10.5 | 23.05 | 12.55 | 0.55 | 17 | 95 | North Vein |
| and | 56.95 | 64.0 | 7.05 | 2.62 | 8.8 | 92 | Intermediate Vein |
| including | 56.95 | 58.9 | 1.95 | 8.76 | 14 | 92 | Intermediate Vein |
| and | 125.0 | 133.65 | 8.65 | 0.15 | 5.0 | 84 | Intermediate Vein |
| and | 169.3 | 179.4 | 10.1 | 0.82 | 4.1 | 82 | Intermediate Vein |
Table 2: Significant Drill Intersections
Drilling Coordinates Table
| Hole ID | Northing (NAD27 CONUS Zone 12N) | Easting (NAD27 CONUS Zone 12N) | Elevation (metres) | Azimuth (°) | Inclination (°) | Length (metres) |
| 24-LCDD-265 | 3185570 | 542775 | 389.8 | 000 | -47 | 113.4 |
| 24-LCDD-266 | 3185676 | 542725 | 274.8 | 180 | 10 | 96.05 |
| 24-LCDD-267 | 3185754 | 543056 | 438.3 | 187 | -40 | 69.5 |
| 24-LCDD-268 | 3185555 | 542750 | 392.4 | 000 | -45 | 102.85 |
| 24-LCDD-269 | 3185954 | 542540 | 331.2 | 179 | -60 | 298.3 |
| 24-LCDD-270 | 3185622 | 542401 | 206.7 | 202 | -32 | 75.35 |
| 24-LCDD-271 | 3185633 | 542396 | 207.2 | 220 | -31 | 124.45 |
| 24-LCDD-272 | 3185664 | 542415 | 206.5 | 217 | -36 | 147.7 |
| 24-LCDD-273 | 3185636 | 542403 | 205.9 | 200 | -54 | 114.05 |
| 24-LCDD-274 | 3185816 | 542788 | 248.7 | 000 | +2 | 159.3 |
| 25-LCDD-275 | 3185715 | 542439 | 215.5 | 180 | -56 | 167.0 |
| 25-LCDD-276 | 3185949 | 542700 | 315.6 | 180 | -83 | 225.35 |
| 25-LCDD-277 | 3185853 | 542315 | 353.9 | 180 | -56 | 258.6 |
| 25-LCDD-278 | 3185618 | 542414 | 209.0 | 180 | 0 | 55.15 |
| 25-LCDD-279 | 3185683 | 542515 | 198.1 | 180 | -20 | 105.0 |
| 25-LCDD-280 | 3185810 | 542265 | 360.0 | 178 | -50 | 325.7 |
| 25-LCDD-281 | 3185886 | 542389 | 346.7 | 178 | -47 | 149.35 |
| 25-LCDD-282 | 3185786 | 542515 | 220.3 | 180 | -85 | 124.6 |
| 25-LCDD-283 | 3185843 | 542685 | 237.6 | 169 | -57 | 246.35 |
| 25-LCDD-284 | 3185822 | 542751 | 244.4 | 179 | -62 | 191.4 |
| 25-LCDD-285 | 3185839 | 542715 | 240.5 | 173 | -61 | 240.25 |
| 25-LCDD-286 | 3185837 | 542701 | 239.5 | 180 | -48 | 205.05 |
| 25-LCDD-287 | 3185758 | 542735 | 251.1 | 215 | -60 | 150.15 |
| 25-LCDD-288 | 3185817 | 542726 | 242.4 | 180 | -58 | 180.5 |
| 25-LCDD-289 | 3185895 | 542775 | 305.9 | 193 | -60 | 292.25 |
Table 3: Drill Hole Details
Quality Assurance / Quality Control
Core was drilled with PQ, HQ, and NQ tools, and the drill core was sawn in half, with one half submitted for analysis and one half retained as a record. Core samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by a 30-gram fire assay with an atomic absorption spectroscopy finish, and overlimits were analyzed by a 30-gram fire assay with a gravimetric finish.
Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.
Statement of Qualified Person
Gregg Bush, P.Eng. and Stewart Harris, P.Geo., the Company's Qualified Persons, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as Exploration Manager of the Company.
Technical Report Reference
1 La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024, and was prepared for Heliostar Metals Inc. by Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on Heliostar's website (www.heliostarmetals.com).
About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
| Charles Funk President and Chief Executive Officer Heliostar Metals Limited Email: charles.funk@heliostarmetals.com Phone: +1 844-753-0045 | Rob Grey Investor Relations Manager Heliostar Metals Limited Email: rob.grey@heliostarmetals.com Phone: +1 844-753-0045 |
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.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, this places the Company in a strong position to achieve our planned production and resource growth goals. Today's results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report. The Company anticipates additional drilling results from the current program will be released in Q2, 2025.
Forward-Looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce the purchase of 1,000 ounces of physical silver in the spot market as part of its silver exposure strategy
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The purchase was completed at an average price of $30.65 per ounce and reflects an 8% discount to 20-day VWAP and an 11% discount to recent highs. The average price was based on spot price of US$30.15 per ounce plus a premium of US$0.50 per ounce, for a total investment of US$30,650. The physical silver will be stored with Money Metals Depository LLC, with the exact location to be confirmed, potentially at a designated sub-custodian facility managed by the depository.
Photo Credit: MoneyMetals.com
Peter Bures, Silver Crown's Chief Executive Officer, commented, "We strive to maintain an adequate working capital position of at least six months. We feel it is only prudent as a silver only royalty company to convert a portion of that cash to physical silver. SCRi's ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money. We appreciate our investors want exposure to silver, not fiat, which they can achieve easily without our assistance. The purchase was made with a cash payment received from PPX effectively converting a cash payment to physical silver bullion delivery."
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi's ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money . Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the "Company" or "Lahontan") is pleased to announce a non-brokered private placement financing for gross proceeds of up to $2,000,000 through the issuance of up to 40,000,000 units (the "Units") at a price of $0.05 per Unit (the "Offering").
Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one whole Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.08 per Common Share for a period of two (2) years from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed CDN$0.12 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term
Gross proceeds raised from the Offering will be used for general working capital purposes and for exploration at the Company's Santa Fe Mine Project.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy 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 as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing*. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: www.lahontangoldcorp.com.
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical 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. 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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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