
(TheNewswire)
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Heritage Mining Ltd. (CSE: HML FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that the 2024 drilling program has started over the weekend at Zone 3. The program will focus with historical confirmation drilling and SGH soil target testing.
Highlights:
Figure 1: Zone 3 2024 drill program, August 5, 2024
“We are very excited to have the drill turning at Zone 3. The mineralization from the first hole is very encouraging supporting our internal model, we are right where we want to be. More updates to come in the very near future.” Commented Peter Schloo, President CEO and Director of Heritage.
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake, Contact Bay and Scattergood projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. The projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Click here to connect with Heritage Mining (CSE:HML) to receive an Investor Presentation
Mining in Ontario is big business. In 2021, Ontario’s mining industry produced roughly C$11.1 billion worth of minerals, accounting for 20 percent of Canada’s total production value. The importance of the mining industry has helped create a mining-friendly jurisdiction that understands the value of capitalizing on its natural resources. That’s why the Fraser Institute has ranked Ontario among the top 15 jurisdictions worldwide for investment attractiveness.
Additionally, the Canadian government is making a significant push to ramp up the production of critical minerals, including copper, lithium and aluminum. This push has resulted in more than 31 critical mineral projects in advanced exploration stages in Ontario,e paving the way for the development of a domestic supply chain for the country.
Heritage Mining (CSE:HML) is an exploration and development mining company with district-scale assets targeting gold and copper mineralizations within Ontario. The company’s flagship Drayton-Black Lake project is a strategically assembled district-scale project with encouraging bulk samples, high-grade gold intercepts and robust existing infrastructure. An experienced management team leads Heritage Mining with more than 100 years of combined experience working within the natural resources sector.The Drayton-Black Lake project is a district-scale asset with a rich history, but a single company has never operated the entire area. Instead, it was split up among different operators and has never received systematic exploration to determine its mineralizations' actual width and depth.
As a result, Heritage Mining is launching the first systematic exploration program that will identify promising deposits throughout the entire area of this historic region from a low-grade, high-tonnage perspective.
The company entered a definitive asset purchase agreement with Bounty Gold Corp. to acquire 50 mining claims in the Split Lake zone adjacent to Heritage's flagship Drayton-Black Lake project. Heritage will acquire a 100 percent interest in the Split Lake property in exchange for issuing Bounty 100,000 common shares.
“Relative to other projects in the area, we are very close to infrastructure. There is a paved highway through the property, all-weather logging roads, and well-maintained ATV roads. So it’s quite a bit different than other projects in Northern Ontario: there are no ice roads and we don’t have to fly in to do work,” CEO Peter Schloo stated in an interview.
The company also operates the Contact Bay project containing high-grade copper-nickel mineralizations. The 4,700-hectare land package is within an active mining area and has known gold, nickel and platinum-palladium mineralizations. While the Drayton-Black Lake project is the main focus, Contact Bay will expose the company to critical minerals.
Heritage Mining’s management team has a proven track record in the mining industry and has overseen transactions exceeding C$15 billion. In addition, the team has experience in corporate finance, administration and geology.
The 14,229-hectare project has undergone significant historical exploration, including more than 176 holes drilled, with high-grade gold and copper discoveries. The project is located in a mature mining district in Ontario, a jurisdiction known for its low geopolitical risk and mining-friendly government.
The Alcona Area has been approved for Phase II Drill Program to define its deposit potential.
The project covers 4,700 hectares and contains multiple high-grade copper-nickel and gold occurrences. Contact Bay is also located in Ontario andt is in the exploration phase, with targets identified for exploratory drilling.
Geophysical interpretation of the Contact Bay area along with findings from the 2023 prospecting program, suggest geological similarities to other Archean nickell-copper-PGE occurrences and deposits.
Peter Schloo holds the CPA, CA and CFA designations with over eight years of progressive experience in capital markets, operations and assurance. He has held senior executive and director positions in a number of private companies, a majority in the precious metals sector including CFO of Spirit Banner Capital and VP of corporate development and interim CFO for Ion Energy. Schloo is also currently a director of Pacific Empire Minerals. (PEMC). His past successes include over C$80 million in associated capital raising opportunities involving public and private companies.
Patrick Mohan is a 35-year investor relations veteran and is the founder, president and chief executive officer of Mohan Group. Mohan is also on the board of Metals Creek Resources Corp. Previously, he occupied the position of president, CEO, director and head of investor relations at Kitrinor Metals. Mohan’s past successes include the development of the Cote Gold Project and the sale of Trelawney Mining & Exploration to IAMGOLD for C$585 million (US$595 million) in cash In 2012.
Wray Carvelas has provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. As a senior executive at DRA Global he was responsible for the growth and development of the business in both North and South America. The mandate was to grow business in the Americas, both organically and inorganically without any significant capital base. Carvelas also held positions at KBR, ELB, and De Beers, involving management of development, production, and metallurgical (R&D and capital management) responsibilities.
Thomas Reid has a 30 year career with Sun Life Financial as CFO Canada and head of corporate development. Since joining Sun Life Financial in 1994, Reid has held increasingly senior positions throughout Sun Life in finance, corporate development, public relations and investor relations. From 2009 to 2020, Reid led the group retirement services business at Sun Life, growing the assets under management from $30 billion to $130 billion. For the last four years, Reid was responsible for the strategy and growth team for Sun Life in Canada, where his team led strategic planning for the Canadian businesses and explored how Sun Life could invest in new businesses to accelerate the company's growth in Canada. Reid also holds the CPA and CA designations.
Rachel Chae, with over eight years of experience, has served as CFO for various publicly traded companies, including several Canadian junior mineral exploration companies. She holds the chartered professional accountant designation working at Cross Davis & Company LLP, a chartered professional accountant firm providing accounting services to publicly listed entities, primarily in the mining sector.
Patrick Sullivan is a mining, M&A and securities lawyer at a national law firm with a decade of experience in the junior mineral exploration sector. He has acted on several significant global mining transactions including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation. Sullivan also has significant experience advising on mineral stream and royalty finance transactions.
Rick Horne has over 40 years of experience as an economic geologist. His experience includes senior roles with Acadian Mining (Atlantic Gold) as chief geologist and with Dufferin Gold Mine (Resource Capital Gold) as chief geologist and mine manager. Horne is an expert in lode gold systems, structural geology and geological mapping spending 22 years with NS Energy and Mines focussing on Bedrock mapping.
Mitchel Lavery has over 45 years’ experience in the exploration and development of mining projects with several junior and major mining companies. Lavery was instrumental in the discovery of the Bell Creek Gold Mine in Timmins, ON; the development and operation of the Joubie Gold Mine, Val-d’Or, QC; and the acquisition and development of the Quebec Lithium property, Lacorne, QC. He is the president and a director of Seahawk Gold. and is a qualified person under NI-43-101 regulations.
District-Scale Opportunities with Historically Promising Assets
(TheNewswire)
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - March 24, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that samples have been submitted on Saturday March 22, 2025 from the New Millennium 2025 diamond drill program targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship exploration project Drayton Black Lake (" DBL ") (Figure 2 and 3). The Company anticipates recommencing drilling on Zone 3 Extension Prospect in short order.
New Millenium Target Historical Highlights:
The Company's 2025 diamond drill program drilled under historical trenches which had results up to 5.18oz/ton Au and 4.8oz/ton Au, +1,000g/t Ag, 0.37% Cu, %0.078 Mo, +1%Pb, 0.68%Zn
The Company has confirmed these findings at surface in prior work programs returning up to 2,330 g/t Au (grab) in the immediate vicinity of the above-mentioned trenches tracing over 300m at surface
Multi-elemental analysis from prior channel sampling programs supports positive correlation between Au and Te, Ag, Cu, Pb, Zn. When combined with visual inspection of core, shows similarities to mineralization at Zone 3, an intrusion related gold mineralization system identified in 2024 comparable to Hammond Reef style mineralization.
New Millennium Target Highlights (Press Release: February 27, 2025)
Total 556m in nine holes completed vs planned 370m over seven holes. Additional meterage was driven from favorable mineralization intersection. All samples are delivered to the lab as at Saturday March 22, 2025.
Drill holes show multiple occurrences (up to 51.40m core length) of variably mineralized shear zone material, local granitic/felsic intrusions, and massive to semi massive quartz veins (Figure 1) in seven of the nine holes drilled.
The presence of chalcopyrite with pyrite in chlorite-carbonate alteration with patchy k-feldspar alteration in quartz veins and wall-rock is reminiscent of some of the best Au-bearing intercepts at the nearby Zone 3 Prospect that were drilled in 2024 (September 20, 2024 Press Release).
Figure 1: HML025-006 Select photograph showing variably mineralized shear zone material hosting semi massive fine grade pyrite filling laminations within massive to semi massive quartz veins associated with k-feldspar altered granite.
"The historical significance of the recently acquired (100% owned) New Millennium target area is very impressive and important to mention as we look forward to assay results. Our systematic exploration approach has successfully intersected significant mineralized core lengths, which is an interesting twist compared to the historically observed high-grade but narrow veins at surface.
It seems to widen at depth, which is a very good sign, considering we have only drilled up to 87m.
We are also looking forward to drilling Zone 3 (DBL Project) and the Rognon Mine are (Contact Bay Project), both of which are high potential drill target areas.
For some time now, we have secured a controlling position on our projects within one of the last underexplored greenstone belts with fantastic access in Northern Ontario. I would like to thank the technical team for their contributions to a successful 2025 drill program thus far, and I look forward to the assay results, continued drilling, and our growth together." Commented Peter Schloo, President, CEO and Director of Heritage
Figure 2: DBL Total Property Outline
Figure 3: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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(TheNewswire)
VANCOUVER, BC TheNewswire - March 7, 2025 Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (" Heritage " or the " Company ") is pleased to announce a non-brokered private placement (the " Offering ") of units (" Units ") and flow-through units (" FT Units ") for gross proceeds of up to $1,3750,00.
Pursuant to the Offering, the Company intends to issue up to 13,750,000 Units of the Company at a price of $0.05 per Unit, for aggregate gross proceeds of up to $687,500, and up to 13,750,000 FT Units of the Company at a price of $0.05 per FT Unit, for aggregate gross proceeds of up to $687,500.
Each Unit will consist of one common share in the capital of the Company (" Common Share ") and one Common Share purchase warrant (a " Warrant "). Each FT Unit will consist of one Common Share which will qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant.
Each Warrant will entitle the holder to acquire one Common Share (each, a " Warrant Share ") at an exercise price of $0.10 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 60 months from the closing date of the Offering (the " Expiry Time ").
Closing of the Offering is expected to occur on or around March 27, 2025 (the " Closing Date "). The Offering is subject to all customary approvals. Proceeds of the Offering will be used to fund the Company's planned exploration and drilling programs on its Drayton-Black Lake Project and Contact Bay and general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.
"Heritage Mining Ltd. has secured lead orders totaling up to C$250,000 from insiders, institutions, advisors, consultants, and existing shareholders. We are grateful for the continued support of existing stakeholders and look forward to closing the financing on or around March 27, 2025." Commented Peter Schloo, President, CEO, and Director.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
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(TheNewswire)
VANCOUVER, BC, February 27, 2025 TheNewswire - Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce it has completed its drill program at the New Millennium area targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship Drayton Black Lake (" DBL ") Property (Figure 3 and 4). The Company will proceed to the Zone 3 area, then to Rognan area on the Contact Bay Property as previously communicated in press releases dated December 19, 2024 and December 11, 2024 respectively.
New Millennium Target Highlights:
Figure 1: HML025-006 Select photographs showing select variably mineralized shear zone material, local granitic/felsic intrusions and massive to semi massive quartz veins. |
"Heritage Mining is off to a great start in 2025. Our in-house drilling operations have begun to bear fruit. Our exploration team has successfully intersected favorable mineralized structures over core lengths up to ~51.40m targeting two mineralized vein systems in the immediate vicinity of the highest-grade grab sample on the property (2,330 g/t Au) at our flagship exploration DBL Property. Significant lengths of drill core are similar to our best Au-intercepts elsewhere on property, specifically Zone 3. These observations so close to the surface have exceeded our expectations.
We look forward to drilling Zone 3 (DBL Project) and Rognan Area (Contact Bay Project) prospects H1 2025." Commented Peter Schloo, President, CEO and Director of Heritage
We present in Figure 2 below a complete shear zone intercept in DDH HML025-006.
Figure 2: Sequence of drill core box photos showing the entire shear zone structure in DDH HML025-006 (14.33m to 87.00m) |
Figure 3: DBL Total Property Outline
Figure 4: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - January 27, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce it has exercised as received its drilling permits in respect to its Zone 3 Extension application (Figure 2) within its flagship Drayton Black Lake project (" DBL ") (Figure 1). The Company is also pleased to announce it has entered into an additional drill program contract, a labour contract and a Dozer D5 lease to support exploration activities at DBL. The Company's drilling team is mobilizing as of January 26, 2025 with drilling set to commence February 10 th 2025.
Highlights:
"We are thrilled to have received our diamond drill exploration permit, we now are fully permitted for the Zone-3 Extension. This area was recently staked in relation to the identification of a new mineralization system, intrusive related gold. Furthermore, securing key contracts in respects to drilling and confirming drill start date is a key update to all Stakeholders. Target areas of interest include: DBL (New Millennium, Zone 3, Zone 3 Extension and Zone 10) and Contact Bay – Rognan Mine Area). We look forward to updating the marketplace in short order on progress." Commented Peter Schloo, President, CEO and Director of Heritage.
Figure 2 – DBL – 2025 Exploration Program and Diamond Drill Permit Area
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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VANCOUVER, BC TheNewswire - January 20, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce it has exercised its option (the " Option ") to acquire a 51% ownership interest in the Company's flagship Drayton - Black Lake Project in accordance with the terms of an option agreement dated November 25, 2021, as amended on December 29, 2023 and October 23, 2024 (the " Option Agreement ") between the Company and Stillwater Critical Minerals Corp. (" Stillwater "). The Drayton Black Lake project totals ~18,907Ha.
To exercise the Option, the Company incurred a final $1,000,000 in exploration expenditures on the Drayton – Black Lake Project and issued Stillwater 4,100,000 common shares in the capital of the Company (" Common Shares ") and 3,000,000 Common Share purchase warrants (" Warrants "), with each Warrant entitling Stillwater to acquire an additional Common Share at a price of $0.10 until January 17, 2028.
The Company has a further option to increase is ownership interest in the Drayton-Black Lake Project to 90% by incurring an aggregate of $5,000,000 in Qualifying Expenditures (inclusive of the $2,500,000 in Exploration Expenditures incurred in connection with the exercise of the First Option) at the Property on or before November 25, 2026 and issuing an additional 1,100,000 Common Shares to Stillwater.
"We are excited to have secured a controlling interest in our flagship project, DBL. This strategic move, combined with the recent influx of capital through investments and M&A, positions Heritage at the forefront of one of the last underexplored gold belts in Northwestern Ontario. With a robust portfolio, a clear vision for growth, and the financial strength to execute, we are fully cashed up and permitted to drill our high-priority targets. We're off to a great start in 2025, and with the momentum we've built, we are well-positioned to unlock significant value for our shareholders in the rapidly evolving gold sector." commented Peter Schloo, CEO, President and Director of Heritage.
Stillwater's Chief Executive Officer, Michael Rowley, added that "We are very happy with Heritage's success earning into the project. Their hands on approach, technical expertise, and capital market support puts them at the top of the list. We remain fully supportive and are looking forward to what they have in store for 2025 and beyond. "
Figure 1: Ontario Project Portfolio
Figure 2: Ontario Project Portfolio – Drayton Black Lake
As part of the exercise of the Option, the Company settled $52,500 in debt obligations through the issuance of
875,000 Common Shares at a price of $0.06. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
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The gold price surged this week, rising to yet another new all-time high of more than US$3,160 per ounce ahead of tariff updates from US President Donald Trump.
The yellow metal's latest move follows a strong Q1, during which it continually hit new records amid widespread uncertainty and achieved its best quarterly performance since 1986.
However, Trump's Wednesday (April 2) tariff announcement took some of the wind out of gold's sails. While it showed resilience on Thursday (April 3), rebounding back above US$3,100 after falling below that level, the yellow metal lost substantial ground on Friday (April 4), sinking to just above US$3,020.
Major US indexes have also taken hits — the S&P 500 (INDEXSP:.INX), Dow Jones Industrial Average (INDEXDJX:.DJI) and Nasdaq Composite (INDEXNASDAQ:.IXIC) have all seen steep declines this week.
There's still much uncertainty surrounding tariffs, but here's what we know at this point.
After declaring a national economic emergency, Trump has put tariffs of at least 10 percent on all countries. Higher tariffs have been levied on about 60 nations that have large trade deficits with the US and have been deemed the "worst offenders."
While Trump has called the tariffs reciprocal, that's not exactly how they've panned out.
A tariff calculation formula published by the White House indicates that the math involves taking the trade deficit for the US in goods with a particular country, dividing that by the total goods imports from that country and then dividing that number by two. A BBC explainer shows how the formula works for the EU, where the US has instated a 20 percent tariff based on what it believes the EU charges.
The situation is more complex for countries like China, which already had a 20 percent tariff in place from the US. Trump has now added a further 34 percent tariff, bringing China's total rate to 54 percent. Canada and Mexico, which have also already faced tariffs from the US, avoided further charges this week.
While Trump's new tariffs are sweeping in nature, there are exclusions — among them are steel, aluminum, copper, pharmaceuticals and semiconductors, as well as bullion, which includes gold, plus "energy and other certain minerals" not available in the US.
The news that gold won't face levies is reportedly cooling its flow from London to New York. In recent months, traders have been rushing to bring the metal into the US ahead of potential tariffs; with this week's clarity, the transfers no longer appear necessary.
A Section 232 investigation into copper tariffs is ongoing.
Trump has referred to Wednesday as "Liberation Day," saying that tariffs will help reinvigorate the US manufacturing industry and help the country grow.
"Jobs and factories will come roaring back into our country, and you see it happening already. We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers" — Trump
However, there are widespread concerns that the tariffs will boost inflation in the US, putting pressure on Americans who are already struggling with high prices.
Let's take a look at it from both angles.
Keith Weiner of Monetary Metals noted that while he doesn't define inflation as an increase in consumer prices, that's the standard definition. In his view, tariffs could boost consumer prices in several ways:
If inflation is defined as an increase in consumer prices, and you've forced them to manufacture in a high-cost jurisdiction with much higher regulatory costs, and then deport a lot of labor to drive up the price of labor even more, then you're going to find consumer prices have a one-two punch.
The third punch is — what is everybody's solution from a monetary policy perspective to so-called inflation? Hiking interest rates. Which means hike the cost of financing new factories, and hike the cost of automation ... Every company when faced with massively increased demand for labor and massively higher labor (costs) is going to want to automate. Well, the cost of financing the automation is going to be hiked. So we're going to see a one-two-three punch for the forces pushing up consumer prices.
Jim Thorne of Wellington-Altus took a different approach to the question. He explained the relationship between tariffs and inflation as follows:
Tariffs slow growth — one. So that's why we've been talking about a growth scare. We'll have a balance sheet recession in Canada, we will have a slow growth period in the US.
What tariffs do is they change the relative prices in an economy, they don't change the general price level. And so no, they're not inflationary. And Tiff Macklem knows that, and Jay Powell knows that, because that's third year macro.
Click the links above to watch the full interviews with Weiner and Thorne.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has nominated Ben van Beurden and Pekka Vauramo for election to its Board of Directors at the company's Annual and Special Meeting of Shareholders on May 6, 2025.
Ben van Beurden, former chief executive of Shell, brings four decades of global experience in the energy and natural resources sectors. At Shell, he led the company's strategic transformation from an oil-focused business to a diversified energy leader, with a strong emphasis on natural gas and renewable energy investments. This transformation placed Shell among the top quartile of investors in energy transition. Mr. van Beurden is recognized for his strategic decision to simplify Shell's shareholding structure and consolidate the company's headquarters in London, benefiting shareholders and streamlining the organization. In addition to his leadership at Shell, Mr. van Beurden currently serves as senior advisor of energy transition investments at KKR, is an independent member of the Board of Supervisors of Mercedes-Benz Group AG and was recently elected chairman of Clariant, a Swiss listed multinational specialty chemicals company.
Pekka Vauramo brings a wealth of leadership experience from the mining, logistics and services sectors. Most recently he served as chief executive of Metso, where he played a key role in the successful merger with Outotec in 2020, creating a leader in sustainable technologies for the aggregates, minerals processing and metals refining industries. Under his leadership, Metso Outotec strengthened its market position by divesting non-core assets, acquiring competitors and focusing on improving culture, customer satisfaction and profitability. Mr. Vauramo also served as CEO of Finnair, where he oversaw a significant financial turnaround and expanded the airline's reach into new Asian markets. His experience spans leadership roles at Cargotec, Sandvik and Outokumpu, where he honed his expertise in the mining sector, particularly in base metals. Additionally, Mr. Vauramo has extensive board experience, currently serving as chairman of the boards of Huhtamaki Oyj and Valmet Oyj, and as a member of the board of Nokian Renkaat Oyj, all Finnish listed companies.
Barrick chairman John Thornton said Messrs. van Beurden and Vauramo would bring valuable insights to the Board's deliberations. "Both bring exceptional leadership, a global perspective and deep industry knowledge that will be instrumental in driving Barrick's strategy forward. Their expertise in sustainable business practices, operational excellence and global market understanding will support our commitment to delivering long-term value to shareholders, while maintaining our leadership in responsible mining."
Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
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Having laid the foundation to build the world's most valued gold and copper company, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is now advancing its portfolio of growth projects to support a planned 30% growth in gold equivalent ounces by the end of the decade 1 says chairman John Thornton.
In the company's 2025 Information Circular, published today and available at www.barrick.com/agm as well as filed on SEDAR+ ( www.sedarplus.ca ) and EDGAR ( www.sec.gov ), Thornton said that despite a challenging operating environment, Barrick delivered on the goals it set for 2024, meeting its gold and copper production guidance and maintaining its unmatched record of reserve replacement while adding substantially to its resource base.
"We improved our financial performance, despite higher costs, with an increase in net earnings of 69% — the highest in a decade — operating cash flow growth of 20%, and a doubling of free cash flow 2 relative to 2023," he says.
"At the same time, we developed our portfolio to achieve sustainable production and profitable growth. We continued to ramp up Pueblo Viejo, started prefeasibility work at Fourmile, and restarted the Porgera mining operation. We completed feasibility studies for Reko Diq, one of the world's largest undeveloped copper-gold deposits, and the Lumwana Expansion project, which will become one of the world's largest copper mines. Both projects will support our goal to organically grow our production volumes, particularly in copper, and as such we are proposing to change our name from Barrick Gold Corporation to Barrick Mining Corporation, to reflect the company's changing production profile."
Thornton noted that despite rising metal prices, mining equities have underperformed, with Barrick no exception. "We viewed our equity as undervalued and consequently repurchased $498 million of shares in 2024 and we will continue to pursue share buybacks whenever we believe our shares are trading below their intrinsic value."
"We have an industry-leading balance sheet, substantial liquidity and a global portfolio of Tier One assets. 3 These qualities, along with our fully funded pipeline of organic growth projects, put us on track to grow the company and increase per-share returns over the long term," he says.
Also in the Information Circular, lead director Brett Harvey says that board renewal remained a priority in 2024, enhancing Barrick's global business expertise to achieve representation that reflects the people and regions integral to its operations.
"During the year, we conducted a rigorous and structured selection process to identify potential board candidates, and we're pleased to nominate Ben van Beurden and Pekka Vauramo for election at this year's Annual and Special Meeting. At the same time, we would like to express our heartfelt gratitude to Christopher Coleman and Andy Quinn, who will retire from the Board," says Harvey.
The Board also appointed new chairs for its key committees: Isela Costantini for the Compensation Committee; Loreta Silva for the Audit & Risk Committee; and Brian Greenspun for the Environmental, Social, Governance & Nominating Committees.
Barrick is pleased to host a virtual meeting format for this year's Annual and Special Meeting which shareholders may attend by way of live webcast regardless of their geographic location.
The meeting will be held meetings.lumiconnect.com/400-995-869-810 on Tuesday, May 6, 2025 at 10:00 a.m. EDT. Registered shareholders, non-registered (or beneficial) shareholders and their duly appointed proxyholders will be able to participate, ask questions, and vote in "real time" through the online portal.
Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
Gold equivalent ounces calculated from our copper assets are calculated using a gold price of $1,400/oz and copper price of $3.00/lb. Barrick's five-year indicative production profile for gold equivalent ounces is based on the following assumptions:
Key Outlook Assumptions | 2025 | 2026+ |
Gold Price ($/oz) | 2,400 | 2,400 |
Copper Price ($/lb) | 4.00 | 4.00 |
Oil Price (WTI) ($/barrel) | 80 | 70 |
AUD Exchange Rate (AUD:USD) | 0.75 | 0.75 |
ARS Exchange Rate (USD:ARS) | 1,000 | 1,000 |
CAD Exchange Rate (USD:CAD) | 1.30 | 1.30 |
CLP Exchange Rate (USD:CLP) | 900 | 900 |
EUR Exchange Rate (EUR:USD) | 1.10 | 1.10 |
Barrick's five-year indicative outlook is based on our current operating asset portfolio, sustaining projects in progress and exploration/ mineral resource management initiatives in execution. This outlook is based on our current reserves and resources and assumes that we will continue to be able to convert resources into reserves. Additional asset optimization, further exploration growth, new project initiatives and divestitures are not included. For the company's gold and copper segments, and where applicable for a specific region, this indicative outlook is subject to change and assumes the following: new open pit production permitted and commencing at Hemlo in the second half of 2025, allowing three years for permitting and two years for prestripping prior to first ore production in 2027; Tongon will enter care and maintenance by 2027; and production from the Zaldívar CuproChlor® Chloride Leach Project (Antofagasta is the operator of Zaldívar). Our five-year indicative outlook excludes production from Fourmile, as well as Pierina and Golden Sunlight, both of which are currently in care and maintenance; and production from long-term greenfield optionality from Donlin, Pascua-Lama, Norte Abierto and Alturas. Barrick's fiveyear production profile in this press release also assumes an indicative gold and copper production profile for Reko Diq and an indicative copper production profile for the Lumwana Super Pit expansion, both of which are conceptual in nature. Loulo-Gounkoto has been excluded from Barrick's 2025 guidance as a result of the temporary suspension of operations. We expect to update our guidance to include Loulo-Gounkoto when we have greater certainty regarding the timing for the restart of operations. For purposes of this indicative five-year forecast only, we have assumed a scenario where Loulo-Gounkoto resumes operations on April 1, 2025. There can be no assurances that a definitive agreement to resolve the ongoing dispute with the Government of Mali will be reached by April 1, 2025 or at all. Refer to page 9 of the MD&A accompanying Barrick's annual 2024 financial statements for additional information.
Endnote 2
"Free cash flow" is a non-GAAP financial measure that deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow is intended to provide additional information only and does not have any standardized definition under IFRS, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. Other companies may calculate this measure differently. Further details on this non-GAAP financial performance measure are provided in the MD&A accompanying Barrick's financial statements filed from time to time on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Endnote 3
A Tier One Gold Asset is an asset with a $1,400/oz reserve with potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and with costs per ounce in the lower half of the industry cost curve. A Tier One Copper Asset/Project is an asset with a $3.00/lb reserve with potential for +5Mt contained copper in support of at least 20 years life, annual production of at least 200ktpa, with costs per pound in the lower half of the industry cost curve. Tier One assets must be located in a world class geological district with potential for organic reserve growth and long-term geologically driven value addition.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "build", "strategy", "commitment", "develop", "replenish", "secure", "transform", "continue", "expand", "grow", ""expand", "extension", "invest", "will" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's partnership philosophy and strategy to invest in sustainably profitable growth; Barrick's forward-looking production guidance and our five and ten-year production profiles for gold and copper; Barrick's global exploration strategy and planned exploration activities; our ability to convert resources into reserves and future reserve replacement; and the anticipated benefits of Barrick's sustainability strategy and focus on increasing workforce and Board diversity our share buyback program; Barrick's future plans, growth potential, financial strength, investments and overall strategy; and expectations regarding future price assumptions, financial performance, shareholder returns and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with Barrick's expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, including the status of value added tax refunds received in connection with the Pascua-Lama project; expropriation or nationalization of property and political or economic developments in Canada, the United States, Mali or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick's ability to achieve its sustainability goals; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; damage to Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick's handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick's operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives; including risks related to cybersecurity incidents, including those caused by computer viruses, malware, ransomware and other cyberattacks, or similar information technology system failures, delays and/or disruptions; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation, including global inflationary pressures driven by supply chain disruptions; global energy cost increases following the invasion of Ukraine by Russia and country-specific political and economic factors in Argentina; adverse changes in our credit ratings; fluctuations in the currency markets; changes in U.S. dollar interest rates; changes in U.S. trade, tariff and other controls on imports and exports, tax, immigration or other policies that may impact relations with foreign countries, result in retaliatory policies, lead to increased costs for raw materials, components and equipment, or impact Barrick's existing operations and material growth projects; risks arising from holding derivative instruments (such as credit risk, market liquidity risk and mark-to-market risk); risks related to the demands placed on Barrick's management; the ability of management to implement its business strategy and enhanced political risk in certain jurisdictions; uncertainty whether some or all of Barrick's targeted investments and projects will meet Barrick's capital allocation objectives and internal hurdle rate; whether benefits expected from recent transactions are realized; business opportunities that may be presented to, or pursued by, Barrick; our ability to successfully integrate acquisitions or complete divestitures; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; risks associated with diseases, epidemics and pandemics; risks related to the failure of internal controls; and risks related to the impairment of Barrick's goodwill and assets.
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Jim Thorne, chief market strategist at Wellington-Altus, discusses which assets investors should focus on in today's tumultuous environment.
He sees promise in gold and silver, as well as Bitcoin and the artificial intelligence sector.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Abcourt Mines Inc. (" Abcourt " or the " Corporation ") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private, for gross proceeds of $1,668,040 (the " Offering ") from the sale of the following:
Each Unit consists of one common share of the Corporation and one common share purchase warrant (each, a " Warrant "). Each Warrant entitles its holder to purchase one common share of the Corporation (each, a " Warrant Share ") at a price of $0.08 per Warrant Share at any time on or before April 3, 2028, subject to acceleration in certain circumstances.
The Corporation intends to use the proceeds of the Offering for the exploration and advancement of the Corporation's Flordin and Sleeping Giant gold projects, which are located in the Abitibi Greenstone Belt in Québec, as well as for working capital purposes and general corporate purposes.
In connection with the Offering, the Corporation paid finder's fees of $1,051,20 in cash and $91,051.20 in common shares at a deemed value of $0.05 per common share, and issued 1,535,040 Warrants to arm's length third parties who assisted the Corporation by introducing subscribers to the Offering.
All securities issued under the Offering are subject to a statutory hold period ending on the date that is four months plus one day following the closing date of the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca
Pascal Hamelin President and CEO T : (819) 768-2857 Email: phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc. T : (514) 722-2276, poste 456 Email : dany.cenac- robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the use of proceeds raised under the Offering, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca . There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward- looking statements or information, whether as a result of new information, future events or otherwise.
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.
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Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") is at the request of CIRO Walker Lane wishes to retract certain information in its press release dated April 3, 2025 entitled "Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its new Website ("the news release").
In this regard, we provide clarification regarding certain statements and/or related actions:
The news release issued was not reviewed by CIRO prior to dissemination;
While the Company has analyzed trading activity in the period leading up to the issuance of the news release it has not yet determined manipulative trading activity in its common shares;
The Company has filed a formal complaint with CIRO:
Conclusive evidence has not yet been uncovered or presented to determine whether manipulative activity resulted in a depreciation of the Company's share price;
The Company wishes to confirm that our management is unaware of any material change in the Company's operations that would account for the recent market activity; and,
Certain statements made in the press release were noted by CIRO to be offside with TSX-V Policy 3.3, Section 8.2.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng. President, CEO and Director
Tel: (709) 327 8013 kbrewer80@hotmail.com
Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plans", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" "targeted", "can", "anticipates", "intends", "likely", "should", "could" or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon.
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