Base Metals

  • 116 hand samples taken by Victory's Exploration Team benefit the comprehensive effort to delineate significant lithium mineralization on the Smokey Lithium Property
  • Lithium bearing claystones at surface measured as high as 630 ppm, helping to develop a clear picture of the best potential drill locations for the next round of drilling
  • Based on results from its overall exploration efforts, the Company anticipates a beneficial revision to its drilling application with the relocation of several holes, which will be an expedited process once undertaken

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's exploration team has received results from its extensive ground sampling program, building upon favourable drill results, aimed at guiding prime drill locations for its next round of drilling on the Company's Smokey Lithium Property in Nevada

As noted on June 28th, the ground sampling program focused on sampling the Esmeralda Formation on and throughout the surrounding grounds of the Smokey Lithium property and has led to the Company locating a zone of higher values to the south and southwest. Mapping was done to locate controls on lithium clay deposition and locate clay beds, which have informed additional staking to protect the interests of Company.

The ground sample program, completed at the end of June 2022, delivered lithium-bearing claystones located at surface via hand sampling. One hundred sixteen hand samples were taken from the property and sent to ALS Labs. Lithium-bearing claystones at surface as high as 630 ppm were located on the southwest section of Victory's Smokey Lithium claim block.

Based on the surface sampling results and the results of completed drilling at the property, Victory has identified multiple, highly lithium enriched claystone units. These mineralized claystones are contained the regionally prolific Esmeralda formation as well as in an overlying unit known as the Alum formation. This important result of the data and geologic compilations is allowing the targeting of drilling in positions to extend known lithium mineralization in both claystone formations.

"The results of the ground sampling program are an important component of our ongoing exploration efforts at the property, which is also deploying geologic mapping and geologic modeling all focused on identifying additional drill targets with the highest possible potential for intercepts on the Smokey Lithium deposit," said Victory President and CEO, Mr. Mark Ireton. "As previously noted, Victory is focused on expanding the footprint of the subsurface claystone hosted lithium mineralization in its maiden drill program and our exploration team is actively working the property and environs to do so."

About Smokey Lithium, Nevada

Victory's Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium's flagship lithium project. Smokey Lithium is located northwest of Cypress' Clayton Valley Lithium Project and to the southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).

The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

Victory Resources Corporation (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/711322/Smokey-Lithium-Ground-Sample-Program-Results-Deliver-Clearer-Target-Areas-for-Drill-Hole-Locations

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VR:CC
Victory Resources

Victory Resources

Overview

Victory Resources (CSE:VR) is an international mining company working to grow a portfolio of gold, silver, and precious metals opportunities. The company is currently developing a pair of projects located in safe and stable mining jurisdictions in Canada, including its flagship Hammond Reef South project, located in Ontario. As part of its acquisition strategy, Victory Resources is focused on identifying and acquiring projects that are conducive to mining and benefit from both existing infrastructure and government support. Both the company’s flagship Hammond Reef South project and its Mal-Wen gold project also offer the potential for year-round exploration and development.

The Hammond Reef South project adjoins Agnico Eagle Mines’ (TSX:AEM,NYSE:AEM) Hammond Reef property and is located only three kilometers south of the Hammond Reef Deposit. This deposit represents a large and low-grade gold deposit that hosts open-pit measured and indicated mineral resources estimated at 208 million tonnes grading 0.67 g/t gold.

Victory Resources believes there is the possibility that Hammond Reef South could contain extensions of the Hammond Reef zone or similar structures. The company has begun an exploration program at Hammond Reef South that is expected to include prospecting and mapping of anomalous trends previously identified by Osisko Mining (TSX:OSK). The data from this exploration program is expected to help define further drill targets.
Hammond Reef South Gold Property

In addition to Victory Resources’ Hammond Reef South project, the company is also working to explore its Mal-Wen project, located centrally in Southern British Columbia. The Mal-Wen project comprises six land claims, totaling 1,143.58 hectares, that have shown various types of mineralization, including copper-gold veins, copper skarn, stockwork mineralization, and hydrothermal breccias.

In April 2022, Victory Resources acquired 100 percent interest in the Saguenay Nickel Project in Quebec, a project located approximately 10 kilometers south of the town of Saguenay. It comprises 286.32 hectares, where historic grab samples showed 3.41 percent nickel, 1.14 percent copper, 1.2 ppm of silver, and 0.13 percent of cobalt.

Victory Resources recently acquired 100 percent interest in the Georgia Lake Lithium Project, located in Ontario. The area has a proven track record of economic lithium deposits dating back to the mid 1950s. Rock Tech is building a lithium ore processing facility for custom milling in Thunder Bay, to be online in early 2024, which with Ontario Government support will support mineral processing.

Victory Resources has targeted projects in British Columbia, Ontario, and Quebec, due to the provinces’ friendly mining policies and the potential to conduct exploration year-round. According to the Fraser Institute’s 2021 Survey of Mining Companies, Ontario ranked as the 12th best jurisdiction in the world when it comes to investment attractiveness, while British Columbia was recognized as the 16th most favorable jurisdiction. Moving forward, Victory Resources intends to pursue strategic acquisitions that fit this profile, specifically those that allow for year-round exploration and development.

Victory Resources also recently staked the new Stingray I and acquired the new Stingray II properties in Quebec, adjacent to the Corvette lithium discoveries by Power Battery Metals (CSE:PMET). Stingray I is composed of four claims totalling 204 hectares from the south property line of Corvette Property while Stingray II is composed of 40 claims totalling 2,041 hectares.

Company Highlights

  • Flagship Hammond Reef South property located in Ontario has returned anomalous grab samples between 0.18 and 4.75 g/t gold.
  • Hammond Reef South is three kilometers south of the Hammond Reef Deposit, home to a measured and indicated resource of 208 million tonnes at .67 g/t gold.
  • Mal-Wen property comprises six land claims totaling 1,143.58 hectares that are 100 percent owned by Victory Resources.
  • Exploration at Mal-Wen has shown mineralization that includes copper-gold veins, copper skarn, stockwork mineralization, and hydrothermal breccias.
  • Mal-Wen prospect vein has returned locally high grades including up to 16.6 g/t gold.
  • Victory Resources acquired 100 percent interest in the Saguenay Nickel Project in Quebec, a project located approximately 10 kilometers south of the town of Saguenay.
  • The Saguenay project comprises 286.32 hectares, where historic grab samples showed 3.41 percent nickel, 1.14 percent copper, 1.2 ppm of silver, and 0.13 percent of cobalt.
  • Victory Resources recently acquired 100 percent interest in the Georgia Lake Lithium Project, located in Ontario. The area has a proven track record of economic lithium deposits dating back to the mid 1950s. R
  • Ontario, British Columbia, and Quebec are safe and stable mining jurisdictions that offer the potential for year-round exploration.
  • Victory Resources acquired Stingray II properties in Quebec composed of 40 claims totalling 2,041 hectares

Key Projects

Victory Resources’ Hammond Reef South

Victory Resources acquired the Hammond Reef South property in August 2020 via an option agreement, giving the company complete control of the project. Under the terms of the agreement, Abitibi Royalties has retained a two percent net smelter royalty on the project, with the expectation that Victory Resources makes cash payments totaling C$275,000 and spends C$550,000 in exploration during the first three years of ownership.

Victory Resources\u2019 Hammond Reef South

The Hammond Reef South property is located in Northwestern Ontario and adjoins Agnico Eagle’s Hammond Reef project, which contains an open-pit measured and indicated mineral resource of 208 million tonnes grading 0.67 g/t gold, with an open-pit inferred mineral resource of 0.5 million tonnes grading 0.74 g/t gold. Hammond Reef South is situated in the Wabigoon subprovince of the Superior province of the Canadian Shield.

Exploration

In August 2020, Victory Resources announced an exploration program to be conducted at Hammond Reef South, including an extensive soil survey, mapping, and magnetometer surveys. The company hopes to put this information towards a drill program, pending the appropriate permits. Victory Resources has engaged Clark Exploration of Thunder Bay to complete the proposed work program.
Claim Map

Victory Resources began the first phase of exploration at Hammond Reef South in September 2020. The company intends to continue prospecting and mapping along anomalous trends that have previously been identified by Osisko Mining. Moving forward, Victory Resources and its exploration team are focused on defining a gold trend at Hammond Reef South similar to Agnico Eagle’s Hammond Reef project, which adjoins Hammond Reef South.

Victory Resources’ Mal-Wen Property

Victory Resources’ flagship Mal-Wen property comprises six land claims that are wholly owned by Victory Resources. The land claims cover approximately 1,143.58 hectares in the central region of Southern British Columbia, located approximately 30 kilometers southeast of Merritt. The property can be accessed via road by taking Highway 97C southeast to the Loon Lake Road Exit, which connects to the logging road network and the property.

Exploration

Victory Resources has established an exploration target at Mal-Wen that is an alkalic porphyry with similar age and mineralization as the Afton and Copper Mountain deposits, which are located nearby. Like Afton and Copper Mountain, Mal-Wen occurs within the Nicole Group of rocks and is found along the same trend.

Victory Resources believes alkalic porphyry deposits such as that found at Mal-Wen have significant potential for a number of reasons, including their ability to form larger copper deposits compatible with open-pit mining. These deposits have also been found to be rich in gold relative to calc-alkalic porphyry deposits and are often lower in sulfides.

Copper mineralization has been found across the Mal-Wen property, including the HN-Wen, Mal, Malachite7, and Echo showings. Various types of mineralization have been identified on the Mal-Wen property including copper-gold veins, copper skarn, stockwork mineralization, hydrothermal breccias, and possible propylitic and localized potassium alternations. A total of six drill programs and a number of geochemical and geophysical surveys have been conducted at Mal-Wen, targeting the various styles of copper-gold mineralization. The Wen Prospect vein, a chalcopyrite-bearing quartz vein with erratic, locally high gold values, returned up to 16.6 g/t gold.

Moving forward, Victory Resources is focused on the under-explored areas between the Mal and Wen deposits while also working to assess the possibility of extending the northern boundary of the Wen Zone.

Victory Resources Saguenay Nickel Project

\u200bVictory Resources Saguenay Nickel Project

In April 2022, Victory Resources acquired 100 percent interest in the Saguenay Nickel Project in Quebec, a project located approximately 10 kilometers south of the town of Saguenay. It comprises 286.32 hectares, where historic grab samples showed 3.41 percent nickel, 1.14 percent copper, 1.2 ppm of silver, and 0.13 percent of cobalt.

The Saguenay Gneiss Complex has abundant mafic and ultramafic rocks and anorthosites, which are commonly associated with nickel-copper-platinum group elements, and sulfide deposits. The presence of ore grade nickel-copper samples at surface and in drill core on this property, and the absence of modern exploration is highly encouraging. A work plan for the 2022 field season will focus on detailed geological mapping, bedrock and till sampling across the property, to determine the scope of advanced exploration, and a potential drill program.

Victory Resources Georgia Lake Lithium Project

Victory Resources Georgia Lake Lithium Project

Victory acquired this Ontario property in May, 2022. The property is easily accessible, ranging anywhere from one to three kilometers from the Trans-Canada Highway. Victory’s Georgia Lake property is two kilometers east of Rock Tech Resources advanced lithium project within the Georgia Lake lithium district.

Historical mapping has noted abundant S-type granites which are known to host spodumene lithium-cesium-tantalum (LCT) pegmatites on nearby Rock Tech lithium deposit. Prior to commencing exploration of the property, the company plans to initiate discussions with local First Nations, setting out a collaborative framework to maximize efficiency and results.

An application for a work permit will be submitted to the Ministry of Northern Development and Mines (MNDM), which will include detailed geological mapping and sampling, with emphasis on late pegmatite dikes and apophyses known on the property.

A pending drill program is envisioned, pending results of the 2022 mapping and sampling program. Drilling is possible 12 months of the year due to the excellent road infrastructure and relatively flat terrain on the property.

Management Team

David Lane - President

David Lane has over 35 years of experience as a startup specialist with a keen eye for strategic direction and raising capital. Lane has ample experience in senior management positions across multiple industries including oil and gas, major sports, financial services, health, and pharmaceutical. His roles have included, but were not limited to, management, ownership, operations, marketing, and corporate finance positions within both the public and private sectors. Lane is currently president and CEO of Victory Resources. Before this, he was president and CEO of Quikflo Health, which eventually became Friday Night, and then 1933 Industries, in the medicinal marijuana sector. Prior to Quikflo, Mr. Lane was President and CEO of M-Pharmaceutical, which focused on a biomedical device for the self-monitoring of glucose levels as it relates to diabetes.

Glen Harder - Director

Glen Harder is the principal of Harder & Company, a Vancouver-based, boutique venture capital, corporate finance, and securities law firm. He advises local and international clients on information technology, biotechnology, mining, the emerging cannabis industry, virtual currency, public and private capital raising, and other matters. He advises clients on software as a service (SaaS), platform as a service (PaaS), infrastructure as a service (IaaS) contracts and applications, assists with the formation and evaluation of cloud service agreement models, and assists clients in minimizing related contractual disputes. He also acts as a director, officer, and special committee member of assorted publicly traded and private companies.

Allan Levien - Director

Allan Levien has been the owner and operator of full-service hotels since 1980. From 2006 to 2015 he served as the president, CFO and director of Supreme Resources. Levien currently operates as a director at Victory Resources.

Tatiana Kovaleva - Chief Financial Officer

Presently, Tatiana Kovaleva is chief financial officer for Glenbriar Technologies, Codebase Ventures, and Victory Resources. Kovaleva previously served as chief financial officer at The Supreme Cannabis Co. and at Callitas Health, also serving as the treasurer for Park Place Energy.

David Deering - Vice President of Exploration and Director

David Deering achieved his bachelor’s of science degree in mining engineering from the Colorado School of Mines in Golden, Colorado. Deering had extensive management experience in the mineral exploration industry, including strategic planning, budgeting, logistics, and technical evaluations. He has served as an independent consultant for mine development, assisting with property acquisition, geology, evaluation of mineral deposits, mining, metallurgy, and environmental assessments.

Victory Begins Work Program on Its Georgia Lake Lithium Project in Ontario

Victory Begins Work Program on Its Georgia Lake Lithium Project in Ontario

  • Property represents a large, under-explored land package adjacent to Rock Tech's near term Georgia Lake Lithium deposit
  • The Georgia Lake Lithium District has a proven track record of economic Li deposits dating back to the mid 1950's
  • Rock Tech is building a lithium ore processing facility for custom milling in Thunder Bay, to be online in early 2024, which with Ontario Government support will support mineral processing from other nearby Li mines

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's has begun its first work program on its recently acquired Georgia Lake Lithium Project in the Thunder Bay Mining District, Ontario

"We are excited to begin our first work program at our fully owned Georgia Lake property, which is based in the proven Lithium region within the Thunder Bay District," said Mr. Mark Ireton, Victory Resources President and CEO. "Victory's Georgia Lake property is ideally situated in a proven lithium region, and one with mining infrastructure supported by the Government of Ontario and from Rock Tech, which will allow us to realize the full potential of any commercially viable deposits within the project."

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Victory Adds Stingray Properties Directly South and Adjacent to Patriot Battery Metals Corvette Property

Victory Adds Stingray Properties Directly South and Adjacent to Patriot Battery Metals Corvette Property

  • Victory Resources, announces that the company has staked the new Stingray I and acquired the new Stingray II properties in Quebec, adjacent to Power Battery Metals (CSE-PMET) Corvette lithium discoveries
  • Stingray I consists of 4 claims totalling 204 hectares extending directly from the south property line of Patriot Battery Metals (PMeT)'s Corvette Property
  • Stingray II consists of 40 claims totalling 2041 hectares situated south and southwest of PMet's Corvette project

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's has added to its Lithium property portfolio in Quebec by staking and acquiring its new Stingray I & Stingray II properties, directly south and to the southsouthwest of Patriot Battery Metals (CSE: PMET) Corvette lithium property in Quebec, respectively

The following is derived from PMet's news release dated June 23rd, 2022. Victory has not independently verified any of the following content. Patriot Battery Metals results from its 2022 winter drill program include some of the strongest drill intersections to date, including 1.22% Li20 and 138 ppm Ta205 over 152.8 metres (CV22030) and 1.45% Li20 and 177 ppm Ta205 over 84 metres (CV22-028).

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Victory Advances Smokey Lithium Exploration with Completed Ground Sample Program

Victory Advances Smokey Lithium Exploration with Completed Ground Sample Program

  • Victory's Exploration Team is engaged in a comprehensive effort to d to delineate and extend significant lithium mineralization on its Smokey Lithium Property
  • In response to drilling results, the Company has completed an extensive ground sampling program aimed at helping to develop a clear picture of the best potential drill locations for its next round of drilling
  • Based on results from its overall efforts, the Company anticipates a beneficial revision to its drilling application with the relocation of several holes, which will be an expedited process once undertaken

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's exploration team has completed an extensive ground sampling program, building upon favourable drill results, aimed at guiding prime drill locations for its next round of drilling on the Company's Smokey Lithium Property in Nevada

The ground sampling program focused on sampling the Esmeralda Formation on and throughout the surrounding grounds of the Smokey Lithium property and has led to the Company locating a zone of higher values to the south and southwest. Mapping was done to locate controls on lithium clay deposition and locate clay beds, which have informed additional staking to protect the interests of Company.

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Victory Announces Smokey Lithium Drill Program Results For Phase One, Including Lithium Values Up To 1270 Ppm

Victory Announces Smokey Lithium Drill Program Results For Phase One, Including Lithium Values Up To 1270 Ppm

  • Results up to 1270 ppm and key lithium bearing sections averaging up to 857 ppm
  • Exploration team has high confidence in their theory that a down-dropped clay deposit exists, and the phase one drill program results has provided valuable information to locate the extension of the lithium clays ‘buried at depth'
  • Results to date have guided additional staking, which the Company advanced for competitive reasons prior to announcing drill results

VANCOUVER, BC / ACCESSWIRE / May 31st, 2022 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's exploration team has received lab results from its phase one, three of 15-hole drill program and as a result of its analysis has staked additional ground based on its geologic model of the target lithium deposit.

"The Victory exploration team has advanced the Smokey Lithium property substantially through the analysis of lab results, and upon those strong results through the additional staking which was conducted for competitive reasons to protect the Company's interests," said Mr. Mark Ireton, Victory President, and CEO. "The Company's exploration team has advanced this property based on its theory that a significant lithium deposit is buried at depth along the adjacent Jindalee boundary margins nearest to the fault line. We want our shareholders to understand that of the three holes, one had impressive lithium values, and the other two provided important information as to the potential location and boundaries of a Li deposit. In total, the drill results from all three holes guided the additional staking so that the Company can continue to define what it believes is a significant lithium deposit buried at depth."

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Victory Acquires 100% Interest in Georgia Lake Lithium Project in Ontario

Victory Acquires 100% Interest in Georgia Lake Lithium Project in Ontario

  • Property represents a large, under-explored land package adjacent to Rock Tech's near term Georgia Lake Lithium deposit
  • The Georgia Lake Lithium District has a proven track record of economic Li deposits dating back to the mid 1950's
  • Rock Tech is building a lithium ore processing facility for custom milling in Thunder Bay, to be online in early 2024, which with Ontario Government support will support mineral processing from other nearby Li mines

Victory Resources Corporation (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's has acquired 100% interest in the Georgia Lake Lithium Project in the Thunder Bay District, Ontario

"Noting the growing global demand for Lithium, and other batter metals, Victory's exploration team has been actively looking for an Ontario based Lithium property within proven Lithium regions," said Mr. Mark Ireton, Victory Resources President and CEO. "Georgia Lake Lithium represents such a property, and with the renewed focus from the Government of Ontario, the development of infrastructure is being supported in this prolific Lithium region, allowing us to realize the full potential of any commercially viable deposits within the project."

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Emerita Intersects 14.0 Meters Grading 4.3% Copper Included Within 26.8 Meters Grading 2.6% Copper at La Romanera Deposit, Increases Number of Drills at IBW Project to Thirteen

Emerita Intersects 14.0 Meters Grading 4.3% Copper Included Within 26.8 Meters Grading 2.6% Copper at La Romanera Deposit, Increases Number of Drills at IBW Project to Thirteen

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce additional assay results from the 2022 delineation drilling at the La Romanera Deposit at its wholly owned Iberian Belt West project ("IBW" or the "Project"). IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for expansion along strike and at depth. The Company also announces that it continues to accelerate drilling at IBW where it has increased the number of drill rigs from 10 to 13. Presently, there are 12 drills on La Romanera deposit delineation and 1 rig continues to drill at La Infanta. Six drilling companies are engaged in the program.

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Romios Gold Completes IP-MT Survey on Trek South Target and Reports on 2022 Exploration Programs in The Golden Triangle, BC

Romios Gold Completes IP-MT Survey on Trek South Target and Reports on 2022 Exploration Programs in The Golden Triangle, BC

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.

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Canada Nickel Provides Project Update and Announces US$10 Million Loan Facility

Canada Nickel Provides Project Update and Announces US$10 Million Loan Facility

Canada Nickel Company Inc. ("Canada Nickel" or "The Company") (TSXV: CNC) (OTCQB: CNIKF) is pleased to provide an update on the Crawford project and its financing activities.

Canada-Nickel-Company-Logo (CNW Group/Canada Nickel Company Inc.)

"The Company remains on track to deliver the feasibility study for Crawford by year-end. The study work is approximately 85% complete and the company is confident in its outcome.  This financing will allow us to execute post feasibility study work on permitting and detailed engineering that is advantageous for us to complete during the coming winter months and allows us to remain well-funded as we continue to aggressively advance the project" said Mark Selby , Chair and CEO of Canada Nickel.

Loan Facility

The Company has arranged a US$10 million loan facility with Auramet which is expected to close on or before October 14 , 2022.  The loan will be due January 14, 2023 , will carry an interest rate of 1.00% per month, and be subject to a 2% arrangement fee. At closing, Auramet will also receive 325,000 1-year warrants with a strike price of $1.52 per share.   The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws.  The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over $20 billion in annual revenues and provides a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company established in 2004 by a team who had worked previously together since 1989. Their business is comprised of three main activities: physical metals trading, metals merchant banking and advisory. Auramet has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector.   Auramet purchases tens of millions of ounces of gold, silver and PGMs sourced from a diversified base of mining companies, recycling companies and refineries/smelters.  Auramet has also provided term financing facilities in excess of $900 million to date in the mining sector and is looking to grow its capital investment business in the precious metals and battery-related metals mining space.  In 2022, Auramet received a Gold Metal Sustainability Rating from Ecovadis, a global leader in business sustainability ratings.

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has successfully registered and applied for trademarks in various jurisdictions for NetZeroNickel™, NetZero Cobalt™ and NetZero Iron™ and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

Contact:
Mark Selby , Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the metallurgical results, the timing and results of the feasibility study and the timing and completion of the loan facility. Readers should not place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable.

Although Canada Nickel 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 to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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SOURCE Canada Nickel Company Inc.

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Copper Fox Announces 2022 Third Quarter Operating and Financial Results

Copper Fox Announces 2022 Third Quarter Operating and Financial Results

Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated July 31, 2022, financial statements have been filed on SEDAR.

For the nine months ended July 31, 2022, Copper Fox had a net loss of $889,829 (July 31, 2021 - $747,620) which equated to $0.00 loss per share (July 31, 2021 - $0.00 loss per share).

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Pan Global Announces Drill Program on Eight Copper Targets in the Escacena Project, Spain

Pan Global Announces Drill Program on Eight Copper Targets in the Escacena Project, Spain

Pan Global Resources Inc. (TSXV: PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce that drilling is underway at the Hornitos and La Jarosa targets and that multiple new targets have been identified for drill testing at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain.

Tim Moody, Pan Global President and CEO states: "Drilling has continued at Escacena with up to four drill rigs operating since January. The current plan includes testing at least six new targets in the Escacena Project in addition to continuing to expand the copper and tin mineralization at La Romana. We are excited at the potential to make further copper discoveries with drilling now initiated on several new targets, all within 5km of our near-surface La Romana copper-tin discovery. Ongoing exploration continues to generate multiple high-priority drill targets. Drilling is underway at the Hornitos and La Jarosa targets and is due to commence shortly at the Pilar, Zarcita and La Romana Deep targets. This is the first time most of the new targets will be drill tested. The fact that we are already seeing evidence of copper, lead and zinc mineralization in some of our first holes on new targets at Hornitos and La Jarosa is very encouraging with assay results awaited. Assay results are also pending for 14 drill holes at the La Romana discovery."

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Fabled Copper Secures Underground Adits

Fabled Copper Secures Underground Adits

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL)(FSE:XZ7) announces that from mid-June - Early September 2022 they were successful in securing 4 adit entrances on its Muskwa Copper Project. See Figure 1 below

Figure 1 - General Property Location

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