Base Metals

  • Drill Program is focused on Relationship to High Li Zone to adjacent Jindalee Property
  • Exploration team completes first hole to 417ft, and upon visual results, gains confidence toward its theory that the down dropped clay presents an opportunity to locate the extension of the lithium clays ‘buried at depth'
  • Deposits ‘buried at depth' are anticipated to be preserved from surface erosion and weathering.

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 advanced its drilling program on the Company's Smokey Lithium Property in Nevada, where its exploration team has identified drill targets that will determine whether a relationship exists to the high Li zone on the adjacent Jindalee property

As previously noted, the Company's initial 3 of 15-hole drilling exploration aims to prove its geologic concept, specifically, to test along the Jindalee boundary margins, nearest to the fault line to reduce the depths required to reach clays and attempt to capture the full thickness of the claystone, in order to discover the grade and thickness of an intercept.

Progress to date indicates significant potential lithium-bearing claystone in the first of three holes drilled, based on visual assessment from the exploration team, with samples now being prepared and sent to ALS for assay.

As no drilling has occurred prior to this program on Smokey Lithium it isimportant to sample each hole extensively until basic geochemical data has been acquired.

Highlights from Initial Hole

  • The first hole has been drilled in the southwest part of the property near Jindalee's boundary and adjacent to the main fault structure to test Victory's theory related to the dropped down clays. Subsequent holes will be based on the results of the initial hole
  • Drilled to total depth of 417ft, including unconsolidated surface materials, bands of olive-green clay, sandstone with pebble conglomerate, grey mud/clay semi-lithified and varved claystone, based upon visual review
  • It was decided to sample in 4 US ft per sample over the entire hole. Currently, the entire hole has been logged, RQD has been completed, and one-third currently sampled with the first round to be sent to ALS for assay. The Company anticipates a total of 100 samples for the first hole plus 10 standards/blanks inserted into the chain.

"Results from the first hole have guided decision making on the second and third hole locations, and the Company will provide progress on the overall drilling program as we progress," said Mr. Mark Ireton, Victory President and CEO. "Preliminary indications, upon visual analysis, are encouraging in terms of the clay intersects and information our geo team is analyzing toward the proof of theory around the potential deposit at Smokey Lithium."

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/691353/Victory-Advances-Smokey-Lithium-Drilling-Program

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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.

Total Shares Outstanding: =

Total Reserve: 61,847,132

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, 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 a 2020 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.

In addition to Victory Resources’ Hammond Reef South project, the company is also working to explore its Mal-Wen project, located in South-central 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.

Victory Resources has targeted projects in both British Columbia and Ontario due to the provinces’ friendly mining policies and the potential to conduct exploration year-round. According to the Fraser Institute’s 2019 Survey of Mining Companies, Ontario ranked as the 16th best jurisdiction in the world when it comes to investment attractiveness, while British Columbia was recognized as the 19th 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.

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.
  • Wen Prospect vein has returned locally high grades including up to 16.6 g/t gold.
  • Both Ontario and British Columbia are safe and stable mining jurisdictions that offer the potential for year-round exploration.

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 2 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.

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 that will include an extensive soil survey, mapping and magnetometer surveys. The company hopes to put this information towards a drill program in 2020, pending the appropriate permits. Victory Resources has engaged Clark Exploration of Thunder Bay to complete the proposed work program.

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 South-central 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.

Management Team

David Lane—President

Mr. David Lane has over 35 years of experience as a startup specialist with a keen eye for strategic direction and raising capital. Mr. Lane has ample experience in senior management positions across multiple industries including oil and gas, major sports, financial services and health 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. Mr. Lane is currently President and CEO of Victory Resources. Before that, he was President and CEO of Quikflo Health Inc., which eventually became Friday Night Inc. and then 1933 Industries Inc., 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 related 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 SaaS, PaaS, 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 at Glenbriar Technologies, Inc., Chief Financial Officer for Codebase Ventures, Inc., and Chief Financial Officer of Victory Resources Corp. Kovaleva previously served as Chief Financial Officer at The Supreme Cannabis Co. Inc., Chief Financial Officer at Callitas Health Inc. and Treasurer for Park Place Energy Corp.

David Deering, B.Sc. Mining Engineering—VP Exploration and Director

Mr. Deering achieved his B.Sc. degree in Mining Engineering – Colorado School of Mines, Golden, Colorado) and has had extensive management experience in the mineral exploration industry strategic planning, budgeting, logistics and technical evaluation. Independent consultant for mine development: property acquisition, geology, evaluation of mineral deposits, mining, metallurgy and environmental assessment.

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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Victory Acquires 100% Interest in Saguenay Nickel Project

Victory Acquires 100% Interest in Saguenay Nickel Project

  • Property consists of 5 claims totalling 286.32 ha, approximately 10 km south of Saguenay, Quebec
  • Presence of ore grade Nickel - Copper samples at surface and in drill core
  • Historic grab sample returned up to 3.41% Ni, 1.14% Cu, 1.2 ppm Ag and 0.13% Co

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 Saguenay Nickel Project in Quebec, a property with historic Nickel and Copper grab sample and drilling results

"We are excited to add this property to the Victory portfolio, noting that our team has analyzed the historical grab sample and drill results, along with the overall Saguenay Gneiss Complex, and are very encouraged about the prospects for this acquisition," said Mr. Mark Ireton, Victory Resources President and CEO.

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Victory Completes Smokey Lithium Drilling Program Phase One

Victory Completes Smokey Lithium Drilling Program Phase One

  • Phase One, 3 of 15-hole Drill Program, is focused on determining the relationship to High Li Zone on the adjacent Jindalee Property
  • Exploration team is optimistic, as the third hole drilled demonstrated as thick sequence of claystone/siltstone with minimal overburden
  • Geologic data from core logging is being combined with surface geologic mapping previously completed on the property. The goal is creation of a preliminary geologic model of the target sedimentary sequence
  • Results from split core delivered ALS Chemx are pending, when received and combined with geologic learnings from which will inform next steps as Victory pursues its theory that the down dropped clay presents an opportunity to locate the extension of the lithium clays ‘buried at depth'

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 its drilling program on the Company's Smokey Lithium Property in Nevada

As previously noted, the Company's initial 3 of 15-hole drilling exploration aims to prove its geologic concept, specifically, to test along the Jindalee boundary margins, nearest to the fault line to reduce the depths required to reach clays and attempt to capture the full thickness of the claystone, in order to discover the grade and thickness of an intercept.

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KIPLIN METALS Permitting Exploration Program on Cluff Lake Athabasca, Saskatchewan, Canada

(TheNewswire)

Kiplin Metals Inc.

June 29 th 2022 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (the " Company " or " Kiplin ") announces that the Company has applied for the requisite exploration permits for its Summer geophysical program at the Cluff Lake Road (CLR) Uranium Project in northwestern Saskatchewan.  Approval for the proposed IP (Induced Polarization) program is expected in the near term. Data from the survey will be integrated with legacy datasets to develop targets for diamond drilling.

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floating us money

VIDEO — Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Money

Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Moneyyoutu.be

Raising money is a key challenge for juniors in today's markets — and even when companies are able to secure funds, it's key to remember that not all financings are equal.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Joe Mazumdar, editor of Exploration Insights, shared his thoughts on how investors can differentiate between good and bad financings.

Along with considerations like warrants, he told the Investing News Network that before buying shares of an exploration company it's a good idea to look at when it last went to market.

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Teck Named to 2022 Best 50 Corporate Citizens in Canada

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") has been named to the Best 50 Corporate Citizens in Canada ranking as one of the top 50 companies in Canada for corporate citizenship. This marks the 16th consecutive year Teck has been named to the Best 50 by Corporate Knights.

"This acknowledgment is really a reflection of the dedication and passion of Teck's employees, who are focused on caring for people, communities and the environment in every aspect of their work," said Don Lindsay, President and CEO. "Teck is committed to being a positive corporate citizen while responsibly producing the materials needed to build a better quality of life for people around the world and support the low-carbon transition."

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Cyprium Metals Ltd $16m Placement and $10m Non-renounceable Entitlement Offer

Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) is pleased to announce a capital raising via a placement and a pro rata non-renounceable rights issue to raise up to approximately $26 million before costs.

HIGHLIGHTS

- Firm commitments received for a Placement to raise $16M at 11.5 cents per share

- Additional pro rata non-renounceable entitlement offer to raise up to $10M

o 1 new share for every 8 held on the record date at 11.5 cents per share
o Offer will be open to all eligible Cyprium shareholders

- Funds raised will place Cyprium in a strong financial position to continue progressing the development of the Nifty Copper Project

- Equity raise supports recently announced $50M Offtake Prepayment Facility with Glencore

- Advanced discussions are continuing with Senior Debt counterparties

Managing Director Barry Cahill commented:

"The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023."

The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares.

Use of Funds

The Placement and Entitlement Offer proceeds will be applied as part of the funding strategy to finance the restart of the Nifty Copper Project which will aim to provide a sustainable, secure, and stable supply of copper metal at 25,000tpa.

As announced on 27 June 2022, Cyprium has entered into an exclusive Letter of Intent (LOI) with Glencore International AG for $50 million in respect of a copper cathode offtake secured prepayment facility, as part of the debt financing package for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs. The LOI is a non-binding term sheet for both offtake arrangement and project funding and is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The Company continues to advance discussions with senior debt providers who are undertaking due diligence activities and reviewing financing documentation.

Details of Placement

Pursuant to the terms of the Placement, the Company has agreed to issue approximately 139.1 million Placement Shares in the Company at the Offer Price of 11.5 cents per share to raise $16 million before costs, under the Company's existing placement capacity pursuant to ASX Listing Rule 7.1 (82,648,514 Placement Shares) and 7.1A (56,481,921 Placement Shares).

Subscribers for the Placement Shares will be entitled to participate in the Entitlement Offer.

Entitlement Offer

Under the Entitlement Offer, eligible shareholders will be able to subscribe for one (1) new ordinary share for every eight (8) existing fully paid ordinary shares held as at 5.00 pm (AEST time) on Friday, 8 July 2022 (Record Date) at the Offer Price.

The Offer Price represents a:

- 28.1% discount to last close on 27 June 2022;

- 19.6% discount to the 10-day VWAP up to and including 27 June 2022;

- 23.9% discount to the 15-day VWAP up to an including 27 June 2022; and

- 25.8% discount to the theoretical ex-rights issue price (TERP) to last close on 27 June 2022.

Cyprium will release a prospectus detailing the terms of the Entitlement Offer shortly, including details as to whether shareholders are eligible to participate in the Entitlement Offer and key risks (Prospectus). The Prospectus will include a personalised entitlement and acceptance form which will provide further details of how to participate in the Entitlement Offer.

Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.

The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full entitlement will have the opportunity to apply for additional shares from a pool of those not taken up by other eligible shareholders (Top Up Facility). In addition to the Top Up Facility, there will also be a general shortfall offer pursuant to which the Company may place any shares to non-eligible shareholders within three (3) months from the closing date of the Entitlement Offer.

Eligible shareholders should read the Prospectus carefully before making any investment decision regarding the Entitlement Offer. If you are in any doubt about the Entitlement Offer, you should consult your financial or other professional adviser.

Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited are acting as Joint Lead Managers to the Placement. The fees payable to the Joint Lead Managers will be set out in further detail in the Prospectus.

Longreach Capital is acting as financial advisor and Steinepreis Paganin is acting as legal advisor to Cyprium.

*To view the capital structure post placement, please visit:
https://abnnewswire.net/lnk/009WA5D2



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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Teck to Release Second Quarter 2022 Results on July 27, 2022

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") will release its second quarter 2022 earnings results before market open on Wednesday, July 27, 2022.

A webcast to review the results will be held as follows:

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First Quantum Provides Notice Of Second Quarter 2022 Results

First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX: FM) will release second quarter 2022 financial and operating results on Tuesday, July 26, 2022 after the close of the Toronto Stock Exchange. The Company will host a conference call and webcast to discuss the results on Wednesday, July 27, 2022 at 9:00 am (EDT).

Conference call and webcast details:
Toll-free North America: 1-800-319-4610
Toll-free International: +1-604-638-5340
Webcast: www.first-quantum.com

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