Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) process plant achieves 60% throughput rate of name plate capacity during processing campaigns while plant commissioning is ongoing with modifications to suit future Reward underground ore feed .

Vertex's Executive Chairman, Roger Jackson commented: "Its pleasing to see we have now almost fully tuned the plant to cater for a wider range of feed stock material. We are now gaining confidence in the processing and gold grade in the surface stockpiles, the fact they are sitting adjacent to the plant and offer an inexpensive feed source is a real advantage to the plant commissioning process.

"The processing of the surface stockpile material has presented some real challenges with the way the old stockpile material breaks down causing frequent blockages in piping. These blockages have hindered the plant availability and throughput, however, the processing team have worked diligently to overcome a vast number of issues in a short period of time.

"Our technical team and operators have been implementing low-cost components and strategies to minimise the fine material into the process. Whilst this has set us back in time with moving to cash flow it is important to note that our main game is mining the Reward high grade gold mine material.

Delays due to plant tuning today should translate to higher efficiencies earlier in the mine plan "Meanwhile our underground team has been busy preparing the historical workings in anticipation of the arrival of our TD1 jumbo drill rig with dewatering, ground support and re-entry tasks underway.

The TD1 jumbo is a crucial piece of mining equipment that will herald the start of a new and prosperous era of mining at the historical Reward Gold Mine.

"Every day I am excited to see the progress of development of the mine, and I look forward to updating investors as and when new news comes to hand"

Over the last 10 weeks the process plant has been steadily ramping up its through put capacity through the commissioning process.

Modifications to the plant include:

- Reducing the clearance in the jaw crusher.

- Dampeners over the sorting screen.

- Increasing the gold concentrate resident time in the Falcon concentrator.

- Increasing recycling load in the regrind mill.

- Adjusting water flows for different circuits in the plant.

- Reducing throughput density on the sand line.

These modifications have been important in increasing the plant utilisation and increasing throughput towards nameplate capacity and availability.

Further modifications and improvements have been identified in the following areas:

- A pre-screening scalper to reduce fines in the crushing system.

- Pre-screening oversize fines material to the re-grind mill prior to the Falcon concentrator

- Tails line (sand line) valves and performance review

- Tails hopper agitator unit

These improvements are planned for integration into the process plant over the next 6 weeks.

Commissioning of the plant using the existing low-grade surface stockpiles has initially enabled modest first concentrate production, allowing Vertex the opportunity to optimise the gold collection processes. A small sample of gold has been sent for refining and sale to test the process. A larger size gold concentrate batch is building as throughput increases. It will be dispatched for refining and sale when worthwhile volumes are obtained.

The low-grade surface stockpile material has been an important source of inexpensive feed material to commission the plant, providing invaluable processing information and support for the training of the new workforce. Further it has offered a rare opportunity to de-risk and optimise the processing flowsheet prior to commencement of mining high-grade underground ore from the Reward mine.

Long lead underground equipment has been ordered, including a TD1 jumbo drill rig (refer VTX ASX 4 March announcement) which is due to arrive from Kalgoorlie in 6 weeks. The arrival of the TD1 jumbo drill will be a key milestone in the development of the Reward mine, signalling a significant shift towards underground mining, and subsequently, underground ore feed into the process plant. Management continues to source other capital items required to furnish and operate the Reward mine.

Vertex continues to progress the Reward mine towards underground mining. Dewatering has commenced of old headings in preparation for the arrival of recently ordered underground mining equipment. Check scaling and assessment of historical ground support has been completed throughout historical areas of the mine.

Areas of concern have been identified and remediated where appliable. Additional ground support will be installed when the TD1 jumbo drill rig has arrived and has been commissioned on site.

*To view the Mineral Resource Estimate, please visit:
https://abnnewswire.net/lnk/9C06B296



About Vertex Minerals Limited:  

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



Source:
Vertex Minerals Limited



Contact:
Roger Jackson
Executive Chairman

Tully Richards
Technical Director
tully@vertexminerals.com.au

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Australia’s next high-grade, green gold producer

VIDEO: Vertex Minerals Ltd  Exec. Chairman Roger Jackson Outlines the Move to Gold Production

VIDEO: Vertex Minerals Ltd Exec. Chairman Roger Jackson Outlines the Move to Gold Production

Sydney, Australia (ABN Newswire) - VIDEO: Vertex Minerals Ltd (ASX:VTX) (OTCMKTS:VTXXF) Exec. Chairman Roger Jackson is interviewed by ABN Newswire and outlines the Move to Gold Production for the Hill End project.

Mr Jackson explains that the company is fully funded with all processes in place to begin gold mining at the historic Hill End location, where the largest gold specimen (The Holterman Nugget) in history was found.

New drilling equipment will allow the company to extend on its current gold resource. 3,600 shallow shafts running along strike, with no drilling provides the company with an exceptional opportunity to grow the resource base as it concurrently begins mining from the "Reward" that contains over 200,000 ounces of gold at over 17 grams per tonne.

The company is moving quickly from explorer/developer to explorer/miner.

To view the Video Interview, please visit:
https://www.abnnewswire.net/lnk/NOSAH25C



About Vertex Minerals Limited:  

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



Source:
Vertex Minerals Limited

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Vertex Minerals Limited  A$11m Capital Raising to Accelerate Mining at Hill End

Vertex Minerals Limited A$11m Capital Raising to Accelerate Mining at Hill End

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that it has received firm commitments to raise approximately A$11 million (before costs) via a conditional share placement and a convertible loan which will convert into equity in Vertex, subject to shareholder approval to be sought at an EGM scheduled for mid-June ("Capital Raising" or "the Offer"). The Company will also conduct a Share Purchase Plan ("SPP") on the same terms as the conditional share placement to raise up to a further A$1m.

HIGHLIGHTS

- Firm commitments received to raise approx. A$11 million via a capital raising

- Strong demand from existing shareholders (including a c. $4m cornerstone order) and new investors

- Capital raising allows the Company to accelerate underground development work and to commence underground mining by July 2025

Overview

Vertex Minerals Limited is developing its advanced Hill End gold project located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. The Capital Raising will provide funds for the Company to complete underground development work and to commence underground mining by July 2025, as Vertex emerges as Australia's next high-grade and highmargin gold producer. With an existing mineral resource estimate of 419,000t @ 16.7g/t Au for 225,200oz Au, The PFS completed in February 2024 contemplates production up to 30koz at below A$2,000/oz (AISC), with the potential for very attractive margins at a time of a strong gold price.

Capital Raising details

Vertex Minerals conducted a capital raising of approximately A$11 million (before costs), comprising of a:

- Conditional placement to raise A$7.5 million via the issue of 35.7 million fully paid ordinary shares ("New Shares"), subject to shareholder approval at an upcoming shareholders meeting ("EGM") expected in mid-June 2025 ("Placement");

- Share Purchase Plan to raise up to a maximum of A$1 million on the same terms as the Placement ("SPP") The Record Date for the SPP is Friday 9 May and further details regarding the SPP will be provided shortly; and

- Convertible Loan issuance raising to raise A$3.5 million ("Convertible Loans"). The Convertible Loans (including interest accrued prior to maturity of the Convertible Loans) will be converted into shares at the same price as the Offer Price, five business days after obtaining shareholder approval at the EGM in mid-June. The Convertible Loans will have an interest rate of 10% p.a. with interest to be calculated and accrued monthly, on a compounding basis ("Interest Rate"). Settlement of the A$3.5 million of Convertible Loans in mid-May will provide the Company with near-term liquidity as Vertex completes the small amount of capital works required for commencement of high-margin underground mining at the Hill End mine.

- Participants in the Placement, Convertible Loan and SPP will be issued with 1 free listed attaching option per 3 New Shares subscribed ("Options"). The Options will be on the same terms as the existing listed VTXOA options (25c strike / 17 July 2026 expiry).

- The pricing of the New Shares represents discounts of

o 12.5% to last close of $0.240
o 13.4% to 5-day VWAP of $0.243
o 11.1% to 15-day VWAP of $0.236

Blue Ocean Equities Pty Ltd and CPS Capital Group Pty Ltd acted as Joint Lead Managers.

Vertex's Executive Chairman, Roger Jackson commented: "The past few months has seen a tremendous transformation of our Hill End site with the successful installation and commissioning of both our Tomra ore sorter and gravity gold plant.

With the processing circuit already operating on historic stockpiles, it's now only months before we commence underground mining. The team at Hill End is excited at the prospect of mining one of Australia's highest grade gold mines, with our resource at a very high 16.7g/t Au in situ. The Tomra ore sorter is very effectively at separating our quartz-hosted gold ore from other rocks.

It's a compact, but critically fully approved, site. And given our high-grade resource and the adoption of mechanised underground mining as well as the Tomra ore sorting technology, we are targeting production of gold for less than A$2,000/oz. Finally, we believe Hill End will have one of the best ESG footprints of an Australian gold mine on account of our minimal grind requirements, low water usage, gravity plant with no chemicals or cyanide and the resultant production of benign tails.

This capital raising provides our remaining capital expenditure (less than A$1 million) and working capital over May / June ahead of underground mining in July. With over $25 million spent by previous owners on underground development and the ore sorter and processing plant in place and operating successfully, we believe Vertex is on the cusp of a period of significant cash generation from our uniquely high-grade gold operation."

*To view the timetable, please visit:
https://abnnewswire.net/lnk/T1CL2GPD



About Vertex Minerals Limited:  

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



Source:
Vertex Minerals Limited

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Vertex Minerals Limited  Appointment of Joint Chief Financial Officers

Vertex Minerals Limited Appointment of Joint Chief Financial Officers

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce the appointment of Vince Fayad and Kurt Laney as Joint Chief Financial Officers (CFO) of the Company.

HIGHLIGHTS:

- Appointment of Vince Fayad and Kurt Laney as Joint Chief Financial Officers

- Both bring extensive experience in the public company sector, with a strong focus on the mining industry

- Focus on processes and controls to support the growth and development of the Company

- Based in Sydney

Vince and Kurt bring a wealth of experience in both the mining and public company sectors. Their combined experience, together with their broader expertise in handling larger trading entities, will be invaluable as the Company progresses towards its next stage of production. Vince and Kurt will work alongside the management team at Hill End, with a particular focus on supporting the evolution of the Company's processes and controls across the accounting, finance and treasury functions as Vertex transitions to production.

Both Kurt and Vince are Chartered Accountants and their experience includes:

- Vince has over 40 years' experience in corporate finance, international M&A, accounting and other advisory related services in Sydney-based mid-tier accounting firms. His experience ranges from provision of corporate, accounting and secretarial services, together with strong commercial acumen particularly, in the planning and execution and of development strategies for projects as well as acquisition skills.

- Kurt is an experienced Chartered Accountant with over ten years of experience specialising in the provision of accounting for publicly listed companies, taxation, and corporate secretarial services.

Vince brings extensive public company experience, including his current role as Executive Director and Joint Company Secretary of Astute Metals NL (ASX:ASE). Kurt also serves as CFO and Joint Company Secretary of ASE. Over the past decade, both Vince and Kurt have held Joint CFO and Company Secretary roles across several other ASX-listed companies.

Executive Chairman Roger Jackson commented, "I am delighted with the appointment of Vince and Kurt. They bring not only a strong degree of financial acumen, but also have extensive public company experience and, being Sydney-based, will integrate well with our project team and operations. These skills will be invaluable as the Company moves forward. I look forward to working with Vince and Kurt".



About Vertex Minerals Limited:  

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



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer ("CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025.

Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies.

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Nuvau Minerals Inc. Announces Grant of Options

Nuvau Minerals Inc. Announces Grant of Options

Nuvau Minerals Inc. (TSXV: NMC) (" Nuvau " or the " Company ") is pleased to announce that it has granted an aggregate of 2,430,000 stock options of the Company (" Options ") in two tranches to certain directors, officers and employees of the Company.

Nuvau Minerals Inc. Announces Grant of Options (CNW Group/Nuvau Minerals Inc.)

The first tranche consists of 1,500,000 Options (the " Tranche 1 Options ") with each Tranche 1 Option entitling the holder to acquire one common share at an exercise price of $0.90 per common share until May 29, 2030 . The Tranche 1 Options are subject to vesting provisions, with 50% of the Tranche 1 Options vesting immediately and the remaining Tranche 1 Options vesting on December 12, 2025 .

The second tranche consists of 930,000 Options (the " Tranche 2 Options ") with each Tranche 2 Option entitling the holder to acquire one common share at an exercise price of $0.47 per common share until May 29, 2030 .

About Nuvau Minerals Inc.

Nuvau is a Canadian mining company focused on the Abitibi Region of Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.

For more information go to our website www.nuvauminerals.com .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Disclaimer & Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, " forward-looking statements ") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Options. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Nuvau Minerals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/29/c3082.html

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