Xplore Resources Modifies Terms of Upper Red Lake Agreement

Xplore Resources Modifies Terms of Upper Red Lake Agreement

Xplore Resources Corp. (TSXV: XPLR) ("Xplore or "the Company"), announces that Abitibi Royalties Inc. has agreed to extend the time in which to make the first anniversary payment under a property option agreement announced March 3, 2021, wherein Xplore is earning the right to earn a 100% interest in the Upper Red Lake Project, located in the Red Lake Mining division, Ontario. In consideration for the issuance of an additional 227,272 common shares, the pending first anniversary payment of $125,000 (payable in common shares of the Company based on the then 14-day VWAP price of the Company's shares as reported by the TSX Venture Exchange) will be extended for an additional six months. The issuance of these shares is subject to the approval of the TSX Venture Exchange.

About Xplore Resources (TSXV: XPLR)

Xplore Resources is a Toronto based mining exploration company listed on the TSX Venture Exchange under symbol XPLR and is focused on the acquisition and development of copper and gold projects in the Americas. The Company is led by a highly experienced management team and is comprised of industry experts with executive and senior management experience in geology, banking, private equity, investor relations and law.

Qualified Persons

Mr. Wes Hanson, P. Geo., President & CEO of Xplore and registered in the Provinces of Ontario is the "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

ON BEHALF OF THE BOARD

"Wesley C. Hanson"
President & CEO

For further information, please contact:

Phone: +1 647-362-9675
Email: info@xploreresources.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 RELEASE

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

Notice on forward-looking statements:

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Xplore cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Xplore's control. Such factors include, among other things: risks and uncertainties relating to Xplore's ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Xplore on SEDAR.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Xplore undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113560

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Xplore Announces Airborne Survey of Surge Lithium Property

Xplore Announces Airborne Survey of Surge Lithium Property

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), is pleased to announce that it has contracted Prospectair Geosurveys Inc. ("Prospectair") of Gatineau, Quebec to complete a high-resolution heliborne magnetic survey of the recently optioned 3416 ha lithium Surge Property (the "Property" or "Surge") located in the Patricia Mining District, Ontario, Canada approximately 150 kms east of Red Lake, Ontario.

Wes Hanson, P.Geo., President and CEO of Xplore Resources, commented, "We were fortunate to be able to join a consortium of lithium focused exploration companies who have aggressively acquired claims in the region, largely due to the discovery potential for lithium bearing pegmatites associated with the Allison Lake batholith and Root Lake pegmatite group. Participating in this consortium not only reduces the overall costs of the survey for all participants, but more importantly, it will generate preliminary results by mid-May, allowing us the opportunity to prioritize areas of interest for field follow up and sampling during the coming field season. That allows us to double down on field evaluation as our Perrigo Lake claim block, acquired initially for its gold potential, lies immediately west and adjacent to the Allison Lake Batholith, giving us two properties in this dynamic region. We are very encouraged by the commitments outlined in Ontario's recently announced Critical Minerals Strategy, focused on positioning the province to benefit from the anticipated exponential growth of electric vehicle manufacturing. This includes financial support for the exploration for and development of critical battery metals, including lithium, throughout northern Ontario."

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Xplore Reports 7.83 g/t Au in Till at Upper Red Lake

Xplore Reports 7.83 g/t Au in Till at Upper Red Lake

Xplore Resources Corp. (TSXV: XPLR) ("Xplore or the "Company"), is pleased to announce anomalous gold in till sample results obtained from the Upper Red Lake Property (the "Property" or "URL") located in the Red Lake Mining District, Ontario.

  • Reconnaissance gold in till sampling confirms highly anomalous gold grain counts
  • 75% of the sample population returned gold grain counts in the upper decile of regional till sampling completed by the Geological Survey of Canada ("GSC")
  • Pristine and modified gold grains comprise +60% of population
  • Best gold in till results coincident with areas of magnetic destruction
  • Results include 7834 ppb Au, the highest gold tenor returned to date within the claims
  • Adjacent to Prosper Gold's Golden Sidewalk gold in till anomaly

Waldo Sciences Inc., Vernon, B.C. ("Waldo"), completed a two-week reconnaissance mapping and sampling program on the Property in October 2021. Onset of winter conditions limited Waldo's coverage to the C1, 2 and 3 target areas (Ref. December 14, 2021, XPLR Press Release). Target C1, a 2200 meter linear, east-west trending magnetic high, coincident with an intrusive-greenstone contact was highlighted by the gold in till results. Targets C2 and C3 further south may represent the continuation of Prosper Gold Corporations' "Golden Corridor" target, a 7 km x 0.5 km gold in till anomaly currently being drilled to the east of Upper Red Lake.

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Xplore Announces Earn-In Option Agreement on the Surge Lithium Project

Xplore Announces Earn-In Option Agreement on the Surge Lithium Project

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), is pleased to announce that it has entered into an Option Agreement (the "Agreement") with 1544230 Ontario Inc. and Gravel Ridge Resources Inc. (together the "Optionors") to earn a 100% ownership interest in eight (8) unpatented contiguous mining claims (3416 ha) that make up the Surge Property (the "Property" or "Surge") located in the Patricia Mining District, Ontario, Canada approximately 150 kms east of Red Lake, Ontario.

The Property is in the Superior Province of the Canadian Shield, along the 450 km, E-W trending Sydney Lake - Lake St. Joseph ("SL-LSJ") fault, separating dominantly intrusive rocks and greenstones of the North Caribou superterrane to the north from the metasedimentary rocks of the English River terrane to the south. (Ref. Figure 1.0).

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Xplore Isolates Priority Geophysical Targets at the Upper Red Lake Property

Xplore Isolates Priority Geophysical Targets at the Upper Red Lake Property

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), has identified and prioritized targets at its Upper Red Lake Project ("Upper Red Lake"), located in the Red Lake Mining Division, Ontario.

Jeremy S. Brett, M.Sc., P.Geo., Senior Consulting Geophysicist, Jeremy S. Brett International Consulting Ltd., has reviewed the airborne magnetic data for the Upper Red Lake property, identifying six priority anomalies for field follow-up (Ref. Figure 1.0). A brief overview of each target follows:

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Xplore Announces Acquisition of Brazilian Exploration Company Baru Exploracao Mineral Ltda

Xplore Announces Acquisition of Brazilian Exploration Company Baru Exploracao Mineral Ltda

Xplore Resources Corp. (TSXV: XPLR) ("Xplore or "the Company"), is pleased to announce the acquisition of Baru Exploração Mineral Ltda. ("Baru"), a Brazilian limited liability company.

Terms of Transaction

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Lundin Mining Announces Record Production Results for 2024 and Provides 2025 Guidance

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (" Lundin Mining" or the "Company") is pleased to announce production results for the year ended December 31, 2024 and provide production guidance for the three-year period of 2025 through 2027, as well as cash cost, capital and exploration expenditure guidance for 2025. Unless otherwise stated, all numbers are presented in US dollars.

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Two sets of chess pieces coming together.

Lundin Mining and BHP Close Filo Acquisition, Launch Vicuña Joint Venture

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) and BHP Canada, a subsidiary of BHP (ASX:BHP,NYSE:BHP,LSE:BHP) have finalized their US$4 billion joint acquisition of Filo, launching a 50/50 joint venture dubbed Vicuña.

The partnership consolidates the Filo del Sol and Josemaria projects within Argentina’s Vicuña District, positioning the region as a future hub for copper production at a time when global demand for the metal is set to rise.

Vicuña will operate independently, guided by a board with equal representation from Lundin Mining and BHP.

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Hudbay Celebrates Major Milestone with Millionth Ounce of Gold Recovered from Lalor Mine

Hudbay Minerals Inc. ("Hudbay" or the "Company") ( TSX, NYSE: HBM) is pleased to announce that it has surpassed a total of one million ounces of gold produced at its Lalor Mine in Snow Lake, Manitoba. This milestone reinforces the significant value Hudbay has unlocked by combining its exploration expertise, processing infrastructure and operating efficiency to maximize gold production at its Snow Lake operations.

"We are so pleased with the dedication and hard work of the Manitoba operating team that has led to this outstanding achievement," said Peter Kukielski, President and Chief Executive Officer. "This milestone underscores Lalor's robust performance and is the result of strategic investments, continuous operational improvements and exploration success, along with the team's focus on building a long-term sustainable business. Hudbay's long standing history in Manitoba and significant future exploration initiatives will continue to drive prosperity in the region and generate significant future cash flows for the business."

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Lundin Mining Completes Joint Acquisition of Filo with BHP and 50% Sale of Josemaria to Form Vicuña Corp.

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce the completion of the joint acquisition (the "Filo Acquisition") of Filo Corp. ("Filo") with BHP Investments Canada Inc. ("BHP").

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Hudbay Minerals Opens the Market

Peter Kukielski, President and Chief Executive Officer, Hudbay Minerals, and Eugene Lei, Chief Financial Officer, Hudbay Minerals ("Hudbay" or the "Company") (TSX: HBM), and their team, joined Robert Peterman, Chief Commercial Officer, Toronto Stock Exchange (TSX), to open the market to celebrate the Company's 20th listing anniversary on Toronto Stock Exchange.

Hudbay (TSX: HBM) (NYSE: HBM) is a copper-focused critical minerals company with three long-life mining operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations. "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities."

MEDIA CONTACT:

Candace Brule
VP, Investor Relations
Candace.Brule@hudbayminerals.com
(416) 814-4387

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237294

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