Basic Materials Archives

Release – Aurania Receives Corsica Study from IHC Mining B.V. of Holland

Posted on November 5, 2024November 5, 2024 by dburczyk@noblecapitalmarkets.com

Toronto, Ontario–(Newsfile Corp. – November 5, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) reports that IHC Mining Advisory Services (“IMAS”) of IHC Mining B.V. were commissioned by the Company to prepare a conceptual desktop study identifying a potential extraction and recovery methodology for the Albo-Nonza black beach sands in Corsica (see related press releases dated October 3, 2024 and November 4, 2024) followed by a potential processing solution for extraction of the heavy minerals located in the beach sand. These sands are believed to be derived from the longshore drift of waste material from the historic Canari Mine. The 73-page report focused on the identification of a potential solution that could be practical and technically possible, taking into account the marine environment and a preliminary processing flow sheet focused on the extraction of the heavy minerals containing nickel (Ni) and iron (Fe). The proposed equipment for both processes has been defined with an estimated combined capital of 13 MM Euro and an estimated operational cost of 2.82 Euro/t. The IMAS study focused on the beach material only and did not include any potential additional material offshore of Nonza and Albo Beaches as described in the press release dated November 4, 2024.

Many critical assumptions were made in this study, and these will be better constrained by a forthcoming environmental study when sonic drilling of the beaches is planned. It is not possible at this point in time to identify a compliant mineral resource. These minerals of interest are accumulated in the sand fraction of the beach deposits of Nonza and Albo and can be extracted using simple magnetic methods. The beach is 40% sand*, with the remaining 60% consisting of pebbles that are, for the purpose of this preliminary study, not considered to have potential economic value. Initial analyses determined that 31.7% of Nonza beach sand is magnetic, and a magnetic concentrate of black beach sand at Nonza yielded 40.1% nickel.

The present-day thickness of the Nonza and Albo beach deposits was estimated by comparison of recent LiDAR topographic and bathymetric survey data of the beach areas with a reconstructed pre-depositional survey that was derived from historical aerial photography and mapping. Wireframes were constructed from both historic and recent survey data sets and the present-day thickness of the beach deposits was estimated by determining the vertical thickness between the wireframes (Figures 1 and 2).

Figure 1: Estimated beach sediment thickness (in metres), Nonza.

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Figure 2: Estimated beach sediment thickness (in metres), Albo.

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IMAS proposed two different scenarios for recovery of the heavy minerals. The first one is a backhoe mounted on a barge, with a screening plant on board. The second is a floating suction and cutter-head dredge on floating pontoons (like that shown in Figure 3). The dredge is expected to have higher capacity and require less maintenance than the barge-mounted excavator and is regarded by the Company as the favoured proposal.

Figure 3: A cutter head suction dredge moored in the channel behind the Rick Rule Conference venue, (Boca Raton, Florida) in July 2024 that Aurania attended. Note that these dredges are used for both civil purposes to clean canals and harbours and for mining alluvials. It operates with a minimum of noise and disturbance and is ideal for clearing channels in proximity to hotels and housing developments.

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The cutter suction dredger excavates panels perpendicular to the coastline up to a maximum dredging depth of 14m. Proposed dredging depths were estimated using the calculated thickness of the beach sands and limitations of the equipment (Figures 4 and 5).

Figure 4: Proposed dredging depth (in metres), Nonza.

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Figure 5: Proposed dredging depth (in metres), Albo.

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The cutter head of the dredger is equipped with grizzly bars (cage) to prevent large rocks from entering the suction pipe of the dredger as they can block the pump or discharge pipeline. Sand and pebbles pass through the dredge pump and are pumped to a beach-based primary screening & slurrification plant via a floating pipeline that is up to 1000 metres long.

This conceptual study produced a potential process flow diagram for the proposed recovery of awaruite and magnetite using the cutter suction dredger and magnetic separation (Figure 6). At the primary screening & slurrification plant the dredging slurry passes a grizzly and double deck vibrating screen where oversized (>6mm) pebbles are removed and the sands fraction (<6mm) reports to a slurrification bin and subsequent magnetic separation. The pebbles and non-magnetic sand are re-distributed to restore the original beach.

Additional processing and metallurgical studies to refine the process are underway at SGS Laboratories (Lakefield).

Figure 6: Potential flowsheet for the proposed recovery of awaruite and magnetite from the conceptual study.

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In this conceptual study IMAS has calculated the Cutter Suction Dredge Scenario to have a total potential capital cost (“CAPEX”) of € 7,830,581 for the dredging equipment, with the estimated potential CAPEX for the processing plant an additional € 5,225,920.

The estimated potential Operating Expenditure (“OPEX”) calculated in the conceptual study for the recovery of the heavy minerals (dredging and screening for size) is presented in Table 1 with details of the potential OPEX for magnetic separation of awaruite and magnetite presented in Table 2.

Table 1: Estimated potential OPEX for recovery of heavy minerals.

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Table 2: Estimated potential OPEX for metallurgical plant (magnetite and awaruite recovery).

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IMAS has worked independently of SGS Labs who are currently working with 130 kilos of magnetic sand collected from Nonza Beach to assess the best way of obtaining 1.) a potentially saleable magnetite-awaruite concentrate, and also 2.) exploiting the significant density contrast between the two minerals*, an awaruite concentrate with a separate magnetite concentrate. A mixed magnetite-awaruite concentrate could be saleable for nickel matte production which may present a more profitable and marketable option. SGS is also assessing the need for the currently proposed grinding of the <6mm magnetite concentrate in the proposed circuit.

The proposed extraction activities would be halted each year during the tourist season and the beach pebbles, and the non-magnetic sand would be returned to the beach which would be recontoured after extraction at the end of each season.

*Specific gravities and particle size analysis from P. Bernier, J-B Guidi and M. E. Bottcher, “Coastal progradation and very early diagenesis of ultramafic sands as a result of rubble discharge from asbestos excavations (northern Corsica, western Mediterranean)” published in Marine Geology, volume 144, 1997.

Qualified Persons:

The geological information contained in this news release and the IMAS report has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucú Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.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.

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company’s teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Aurania Resources Ltd.

Release – Aurania’s Sampling of Sea Bottom Indicates Potential for Greater Extent of Nickel at Corsica

Posted on November 4, 2024November 4, 2024 by dburczyk@noblecapitalmarkets.com

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Toronto, Ontario–(Newsfile Corp. – November 4, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) reports that further to its news release dated October 3, 2024, Jean-Paul Pallier, P. Geo., VP Exploration of Aurania, and Stefan Ansermet, Geological Consultant to Aurania, have completed first pass sea bottom sampling offshore of the Nonza and Albo Beaches, Cap Corse suggesting that the nickel potential is not confined to the beach alone, but extends significantly offshore Using a high-intensity rare earth magnet lowered to the seabed, very abundant black sands were collected as much as 600 metres offshore of Nonza Beach and up to 300 metres offshore of Albo Beach. The black sands are believed to be composed of awaruite (Ni₃Fe) and magnetite (Fe₃O₄), and preliminary analysis of a concentrate of black beach sand at Nonza yielded 40.1% nickel.

LiDAR is a remote sensing technology that penetrates through vegetation and water, producing detailed 3D images of the Earth’s surface both above and below water. Examination of the black and white LiDAR¹ image below (Figure 1), which shows Nonza Beach and the sea bottom immediately to the west of the beach, indicates a markedly different submarine topography in front of the beach. You can see the submarine areas to the north and south have an irregular topography which is due to rocky seabed. The sea bottom west of the beach is mostly smooth; the hollows have been filled in with sand. As demonstrated by historical air photos (Figure 2), it is believed that the waste from the historic Canari Mine, which had filled in the port of Nonza, also filled in and covered the sea bottom at Albo and Nonza Beaches.

One day was spent in reconnaissance sampling of the sea bottom to test this hypothesis (Figures 3 and 4). A high field strength Sm-Nd magnet was used on the end of fishing line and an innovative reel to retrieve it was put together from a power drill by Stefan. A total of four samples were collected in front of Albo Beach and six samples in front of Nonza Beach. In each case, the magnet collected large amounts of magnetic sand off the sea bottom. Samples of this sand have been sent to ALS Chemex in Seville, Spain, for analysis. Since nickel is not present in the magnetite, any nickel in the assays would indicate the presence of awaruite.

The Company has been in touch with WOKO Magnet- und Anlagenbau GmbH of Duisburg, Germany, who manufacture a marine electromagnet that possibly could be used to recover the magnetic sand. This magnet (Figure 5) is used to clean up ordnance from WWII in the sea, and to remove metal trash. We believe the recovery of sand by this method would have minimal disturbance to the environment. The sand is obviously already at the surface and is probably a bottom lag, winnowed by the currents so that the heavy metal grains are preferentially concentrated.

¹ The LiDAR data is public access: Coastal altimetry – Litto3D® | Shom

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Figure 1: LiDAR image of the land and sea bottom topography at Nonza Beach, N. Corsica. The blue line indicates sea level.

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Figure 2: Historical air photo on the left and present-day photo on the right, showing the development and progradation of the Albo and Nonza Beaches over time. The beach material is believed to be composed of waste from the historic Canari Mine, and also extends up to 600m west of the shoreline below water.

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Figure 3: Deployment of the rare earth magnet to the sea bottom to sample for magnetic material.

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Figure 4: Two rare earth magnet sea probes, both covered in magnetic black sand.

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Figure 5: WOKO Magnet- und Anlagenbau GmbH, marine electromagnetic in operation.

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Qualified Persons:
The geological information contained in this news release has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucú Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company’s teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Aurania Resources Ltd.

Release – IP Survey Commences at Aurania’s Kuri-Yawi Gold Target in Ecuador

Posted on November 1, 2024November 1, 2024 by dburczyk@noblecapitalmarkets.com

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Toronto, Ontario–(Newsfile Corp. – November 1, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces the start of the induced polarization (IP) geophysical survey at its Kuri-Yawi project in southeastern Ecuador. The survey is being carried out by the geophysics company GexplOre, which has extensive experience developing this technique within the Amazon rainforest. The geophysicists have arrived in the field last week following the completion of the line-cutting preparation work.

Kuri-Yawi is the most advanced epithermal target in the Company’s Cutucu project. The discovery of numerous sinters by the Aurania team in 2018 highlighted the area as highly prospective for epithermal gold mineralization. Extensive fieldwork subsequently conducted in the area, including geology, soil geochemistry and a Mobile MagnetoTellurics (MobileMT) airborne survey led to the drilling of nine scout holes during 2020 and 2021 to investigate the soil anomalies at depth. The results of the program indicated a vector to mineralization toward the northeast, the subject area of the current IP survey. Subsequent prospecting in this area discovered thallium-rich chalcedony veins (see Figure 1). Importantly, thallium is a volatile element often present in the upper parts of epithermal deposits. As well, TerraSpec infrared analyses of the alteration minerals in this area show typical epithermal chlorite-smectite-illite zonation towards the vein zone. The presence of these minerals suggests an intense hydrothermal alteration in the center of an epithermal system, which is interpreted to be responsible for the demagnetization of rocks observed in the area and also shown on the 2017 magnetic airborne survey (see Figure 2).

The IP survey is designed to identify deep conductors that could correspond to gold mineralization, and to target drill holes for the planned program in 2025. The IP survey is expected to be completed by mid-December 2024, with results expected in early 2025 following a review and interpretation of the data.

Figure 1: Alteration zonation by TerraSpec survey on the outcrop and thallium results from outcrop at Kuri Yawi.

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Figure 2: Magnetic airborne anomalies (blue areas indicate low magnetic conductivity and warm colours such as red-pink are highly magnetic) and thallium results on outcrop at Kuri Yawi.

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Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, or at MS Analytical (“MSA”) in Cuenca, Ecuador. Analysis by ALS was done in Lima, Peru, and MSA conducted their analyses in Vancouver, Canada.

Sample preparation: Rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken. The sub-sample was crushed to a grain size of 0.075mm and a 200g split was set aside for analysis.

Analytical procedure: A 0.5g split of the -0.075mm fraction of rock samples underwent digestion by four-acids, and the liquid was analyzed for 48 elements by ICP-MS. Gold was analyzed by fire assay with an ICP-AES finish.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits. In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Persons:

The geological information contained in this news release has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company’s teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Aurania Resources Ltd.

Release – Comstock Announces Third Quarter 2024 Results and Corporate Updates

Posted on October 22, 2024October 22, 2024 by dburczyk@noblecapitalmarkets.com

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VIRGINIA CITY, Nev., Oct. 22, 2024 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock,” “our,” and the “Company”) today announced its third quarter 2024 results, certain business and investment updates and an updated business outlook, with significant progress from each business, corporate and collectively across the system.

“Our fuels and metals businesses have commercial validation of their plans,” stated Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “Our business teams are dedicated, and our commercialization efforts have gained tremendous traction. We are 100% focused on execution, across the platform, for delivering the technical breakthroughs and operational developments that will drive exponential growth over the coming years.”

Selected Segment Highlights for the Third Quarter of 2024

Comstock Fuels

Executed international engineering, licensing and equity agreements for three industry scale fuel hubs;
Delivered customer samples of commercially available Hydrodeoxygenated Bioleum Oil (“HBO”);
Validated industry-leading higher yields of 125 Gasoline Gallon Equivalents (GGEs) per ton of feedstock;
Identified carbon capture and utilization opportunity for further increasing yields by 15-20 GGEs;
Completed preliminary engineering for our demonstration scale, lignocellulosic production facility;
Expanded research and development activities targeting further cost and capital reductions;
Finalized project plans and activities aggressively designed for achieving petroleum cost parity; and
Executed an exclusive license and cooperative research and development agreement with the DoE’s National Renewable Energy Laboratory (“NREL”) for breakthrough lignocellulosic conversions.

“Our first three industry scale projects and license agreements with South Asia Carbon Limited (“SACL”) are expected to deliver foundational engineering fees and ongoing royalty-based economics plus equity stakes that are expected to establish our global leadership in low carbon fuel solutions,” said De Gasperis. “Our breakthrough yields feature a highly differentiated level of performance. We have completed the preliminary engineering of our own, commercial demonstration scale facility for producing low carbon fuels like Sustainable Aviation Fuels (“SAF”).”

David Winsness, President of Comstock Fuels, added, “Our existing commercial process unlocks and converts wasted, unused, and purpose grown woody biomass into renewable fuels at extraordinary yields and carbon intensities, essentially creating an endless oilwell hidden in plain sight. Our planned commercial facilities have been designed to tap into that oilwell to produce an array of intermediates and fuels. However, further developing and integrating the NREL and MIT technologies into our process could give us the additional ability to maximize aromatic content and quality specifically for high value use in addressing the recent global surge in demand for SAF.”

Comstock Metals

Recorded first revenues from the sale of recycled aluminum, and commenced regular outbound shipments;
Announced contracts with multiple new customers for the decommissioning and disposal of solar panels;
Demonstrated 100% recovery of all glass, metal, and mineral materials, ensuring a zero-landfill solution;
Secured county permits for the first industry-scale expansion, including a waste-panel storage solution;
Advanced work on state operating permits necessary for operating the first industry-scale expansion;
Received approval for operating three shifts and expanded the dedicated team to 13 full time employees;
Advanced agreements on long term supply arrangements to continue receiving solar panels; and
Advanced agreements on offtake arrangements for all segments of recovered materials.

“Our combined Metals revenues, including deferred revenues, nearly tripled from last quarter to over $200,000, and we expect this growth rate to continue in the fourth quarter, especially as both panel decommissioning and shipments of recycled materials increase,” said De Gasperis. “This increase reflects our team’s success in capturing more of these end-of-life business opportunities, including decommissioning services that also feeds our recycling panel flow.”

Comstock Mining

Updated our internal preliminary mine and reclamation plan for the Dayton Mine plan (“Dayton”);
Increased the magnitude of Dayton’s estimated economic mineralized material and planned free cash flows;
Assessed productive post-mining land uses and identified prerequisites for post-mining development; and
Continued assessment and development on the profitable recoverability of recycled silver from solar panels.

“The combination of rapidly rising industrial silver demand and ongoing geopolitical concerns, compounded by decades of questionable monetary policy, creates an unprecedented setup for gold and silver prices over the next several years. Our Nevada mining assets, including the historic Comstock and Silver City lodes, offer a tremendous opportunity for nearer-term production as we advance our efforts to activate these plans,” said De Gasperis.

Corporate

Comstock’s wholly owned subsidiary, Comstock IP Holdings LLC (“Comstock Innovations”), recently executed an Exclusive License Agreement (“ELA”) and a Cooperative Research and Development Agreement (“CRADA”) with the Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) for conversion of lignocellulosic biomass into aromatic sustainable aviation fuel (“SAF”). Comstock Innovations is focused on continuously improving the proven performance and operations of Comstock Fuel’s commercial refining solutions, including increasing feedstock diversity, bulk conversion yields, and product quality for use in SAF while decreasing total variable and capital costs.

“Our existing commercial processes are already leading the acceleration of systemic decarbonization across transportation and mobility, but we believe that we can accelerate the breadth and rate of global market adoption with continued innovation to produce the world’s first 100% renewable SAF at costs that approach parity with fossil fuels. Our combined Comstock and NREL teams believe that feat can be achievable by advancing and integrating our combined technologies,” stated Mr. De Gasperis. “Higher energy, simpler processes, lower all-in sustaining costs.”

Comstock also recently executed a binding agreement with Deep Interstellar Research LLC (“DIR”), and Quantum Generative Materials LLC (“GenMat”) wherein Comstock will effectively acquire substantially all of the equity in GenMat’s artificial intelligence materials discovery platform, materials synthesis, and related assets, business, and substantially all of the related material science development team. Concurrently, as part of the acquisition of GenMat, Mr. Deep Prasad, GenMat’s founder, through a new venture called StarVasa, will be receiving GenMat’s consolidated low earth orbit (“LEO”) satellite, mission control software, related LEO assets, and the space-based technology team.

As a result, Comstock will assume control of and continue the development and commercialization of its breakthrough physics-based artificial intelligence products and services to discover new materials and other technologies.

“Our interest in artificial intelligence (“AI”) was and remains grounded in the critical application of artificial intelligence for materials and mineral discovery, as applied to breakthrough energy applications and other mature industries with large addressable markets,” said De Gasperis. “Material science-based AI is even more critical today, as rapidly evolving AI platforms have begun to accelerate the pace of global innovation and redefine industries. Frankly, anyone that is not integrating AI into their systems will likely either be disrupted or replaced.”

Comstock also recently announced the execution of an indicative term sheet for $325 million ($315 million, net of transaction fees) in funding through SBC Commerce LLC (“SBCC”), a U.S. based, globally positioned, private equity group, subject to final due diligence and any applicable regulatory approvals, including $200 million into Comstock Fuels Corporation; $22 million into Comstock Metals; $50 million into a Comstock Mining segment; and, $50 million for the sales of the Company’s real estate and water rights in Silver Springs, NV. This significant series of transactions, representing a combination of direct investments and asset sales, recognizes significant valuations for the Company’s three businesses and secures timely and essential growth capital to commercialize fuels, metals and mining.

“We have been diligently advancing our efforts with SBCC, including due diligence, site visits, structuring, etc.,” stated Mr. De Gasperis. “We are actively working to advance each of these tranches while our businesses continue innovating, advancing, commercializing and expanding. The direct subsidiary investments represent the amount of capital that enables each of our three businesses to accelerate commercialization and achieve ongoing profitability.”

Consolidated Financial Highlights

For the nine-month period ending September 30, 2024, as compared to the comparable prior period, we:

Increased revenues to $1.4 million, from $0.8 million in the comparable 2023 period;
Decreased selling, general and administrative expenses to $9.5 million from $10.0 million;
Increased research and development expenses to $4.9 million from $4.4 million;
Impaired intangible assets of $8.7 million, primarily associated with LINICO developed technologies;
Recognized a loss attributable to Comstock of $30.5 million, or a net loss per share of $0.20;
Decreased total assets to $103.7 million, down from $106.5 million at December 31, 2023;
Increased total liabilities to $35.6 million, up from $28.2 million at December 31, 2023;
Increased total debt to $11.2 million, up from $9.9 million at December 31, 2023; and
Outstanding common shares were 206,634,788 and 209,251,865 at September 30, 2024 and October 18, 2024, respectively.

OUTLOOK

Comstock Fuels

Comstock Fuels objectives for the remainder of 2024 include:

Execute multiple, revenue generating commercial agreements for industry-scale joint developments;
Advance and expand our innovation network for even higher yields and lower costs; and
Expand our integrated bio-intermediate production system, including cellulosic ethanol and HBO.

Our commercialization plans also includes multiple, international joint development projects, with each joint development project, like SACL, with the potential for generating in millions of dollars of technical services and engineering revenues and license agreements for additional production facilities that generate royalty revenues.

Additionally, advancing the $200 million SBCC investment, in debt and/or equity, enables our first commercial demonstration facility which is designed to be profitable and to confirm the scale of multiple industry facilities. Then, the Company plans to build its own, three U.S. based industrial scale facilities. These are designed for inputs of up to one million tons per year of woody biomass feedstock and can produce up to 125 million GGE of advanced biofuels, including sustainable aviation fuels. Comstock is securing offtake and feedstock agreements for the U.S. based plants.

Comstock Metals

Comstock Metals objectives for the remainder of 2024 include:

Commence three-shift production from the demonstration scale production facility;
Confirm the ability to fully and cleanly reprocess and reuse all residual materials;
Advance the technology readiness for broader material recycling, prioritizing photovoltaics to TRL 7;
Expand our existing revenue generating decommissioning, supply and offtake commitments;
Submit permit applications for our first “industrial-scale” facility;
Complete the site selection for the next two “industrial-scale” facilities and commencing permitting; and
Finalize plans for expansion beyond the southwest region in the medium term.

Comstock Metals is operating its demonstration scale production facility in Silver Springs, NV, and has also secured the initial county level permits for industry-scale operations and storage and is actively engaged in garnering expanded revenue generating supply. Additionally, our closing on the $22 million investment, in debt and/or equity, accelerates the deployment of the next two commercial demonstration facilities. Comstock Metals has also expanded its business into decommissioning services both profitable and a feeder for our recycling business. Comstock Metals has also established markets for the sale of all its residual materials including sales of aluminum, glass and silver-rich fines.

Comstock Mining

Comstock Mining’s objectives for the remainder of 2024 include:

Receive cash proceeds of more than $2 million from mineral leases leveraging the Northern District claims;
Commercialize mineral development agreements that enable expansion of the Central District resources;
Advance the engineering of impactful social and economic benefits from the southern district claims; and
Establish a long-term framework for reclamation and post-mining development of the Comstock district.

The Company’s 2024 efforts apply economic analysis to our existing gold and silver resources progressing toward full economic feasibility for the southern part of the district and the ultimate development of full mine and reclamation plans and post productive land and community development plans. Additionally, closing on the SBCC $50 million investment, in debt and/or equity, accelerates the development of the Dayton Resource Area mine plan, broader resource expansions for the southern district claims and the engineering of the post productive real estate and community development plans.

CONFERENCE CALL DETAILS

Comstock will host a conference call today, Tuesday, October 22, 2024, at 4:30pm ET. We invite all investors and other interested parties to register for the webinar at the link below.

Date: Tuesday, October 22, 2024

Time: 4:30pm ET

Register: Webinar Registration

HAVE QUESTIONS? There will be an allotted time following the results presentation for a Q&A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at ir@comstockinc.com.

About Comstock

Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization by efficiently converting under-utilized natural resources, primarily, woody biomass into net zero renewable fuels, end-of-life metal extraction, and generative AI-enabled advanced materials synthesis and mineral discovery. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

CONTACTS:

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
questions@comstockinc.com

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Universal Stainless & Alloy Products to Be Acquired by Aperam for $45 Per Share in All-Cash Deal

Posted on October 18, 2024October 18, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Aperam will acquire Universal Stainless for $45.00 per share in cash.
– The deal offers a 19% premium to the 3-month average stock price.
– Universal will maintain its U.S. identity and operations post-acquisition.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has announced a definitive agreement to be acquired by Aperam, a global leader in stainless and specialty steel, in an all-cash deal valued at $45.00 per share. This acquisition represents a 19% premium to the company’s three-month volume-weighted average stock price, marking a significant milestone for Universal. The total value of the deal is expected to provide liquidity to shareholders while integrating Universal into Aperam’s global footprint.

The $45.00 per share cash offer reflects a valuation of 10.6x Universal’s trailing 12-month Adjusted EBITDA as of June 30, 2024. Upon completion, Universal will become a wholly-owned subsidiary of Aperam, furthering Aperam’s expansion into the U.S. market by providing its first domestic manufacturing presence. Universal will continue to operate under its existing name and maintain its headquarters in Bridgeville, PA, ensuring a seamless transition for employees and customers.

Christopher M. Zimmer, President and CEO of Universal, expressed optimism about the acquisition: “This is an exciting opportunity to become part of a respected leader with complementary capabilities. It’s a significant step forward that will accelerate our growth and offer tangible benefits to our stakeholders, including our stockholders, employees, and customers.”

Aperam sees this acquisition as a strategic move to strengthen its position in the stainless and specialty steel sector, particularly in aerospace and industrial applications. Timoteo Di Maulo, CEO of Aperam, stated, “Universal’s capabilities and vision align with our strategy for sustainable growth and innovation. This acquisition enhances our ability to provide superior solutions to high-quality, sustainable sectors.”

The deal has been unanimously approved by the boards of both companies and is expected to close in the first quarter of 2025, pending regulatory approvals and shareholder consent. Following the close, Universal’s shares will cease trading on the Nasdaq stock exchange, and the company will continue to operate as Universal Stainless under the umbrella of Aperam.

For investors, this acquisition provides liquidity and a premium return on their investments, while Universal employees can expect to maintain their roles, with extended access to resources and innovations from Aperam’s global research centers. Customers will benefit from increased product offerings and improved manufacturing capabilities, ensuring that the combined entity continues to lead in the specialty steel market.

Release – Comstock Inc. to Host Q3 Earnings Call on October 22, 2024, at 4:30pm ET

Posted on October 14, 2024October 14, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

Corrado De Gasperis, Executive Chairman, Director & CEO, and William McCarthy, COO, will provide business updates and the Company’s third quarter financial results followed by a live Q&A session.
Investors and other interested parties are invited to join and learn more about Comstock’s innovative technologies and commercializing businesses that enable systemic decarbonization.

VIRGINIA CITY, Nev., Oct. 14, 2024 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) is pleased to announce that the Company’s Executive Chairman, Director & CEO, Corrado De Gasperis, and COO, William McCarthy, will be providing an overview of recent financial results, along with important fuels, metals and mining business updates on Tuesday, October 22, 2024, at 4:30pm ET. We invite all investors and other interested parties to register for the webinar at the link below.

Date: Tuesday, October 22, 2024
Time: 4:30pm ET
Register: Webinar Registration

HAVE QUESTIONS? There will be an allotted time following the live presentation for a Q&A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at: ir@comstockinc.com.

About Comstock Inc.

Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Contacts

For investor inquiries:	For media inquiries or questions:
RB Milestone Group LLC	Comstock Inc., Tracy Saville
Tel (203) 487-2759	Tel (775) 847-7573
ir@comstockinc.com	questions@comstockinc.com

Forward-Looking Statements

Release – Comstock to Acquire Quantum Generative Materials LLC

Posted on October 7, 2024October 7, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

Strategic Investment in Artificial Intelligence for Materials Discovery in Energy Applications

VIRGINIA CITY, NEVADA, October 7, 2024 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the execution of an agreement by Comstock, Deep Interstellar Research LLC (“DIR”), and Quantum Generative Materials LLC (“GenMat”) under which Comstock effectively acquired substantially all of the equity in GenMat, including GenMat’s artificial intelligence materials discovery platform, materials synthesis, and related assets, business, and most of the related technical team. Concurrently, as part of the acquisition of GenMat, Deep Prasad’s holding company will be receiving GenMat’s consolidated satellite, mission control software, other related low earth orbit assets, and space team. As a result of the transaction, Comstock will own substantially all of GenMat’s issued and outstanding equity and continue development and commercialization of its breakthrough physics-based artificial intelligence products and services to discover new materials and other technologies, primarily for decarbonizing energy.

“Our interest in GenMat was and remains grounded in the critical need and use of artificial intelligence for materials science and mineral discovery, for breakthrough energy applications and other mature industries with large addressable markets,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Artificial intelligence is even more critical today, as rapidly evolving AI platforms have begun to accelerate the pace of global innovation and redefine industries and competitive requirements. Frankly, anyone that is not integrating AI into their core competencies and capacities will likely either be disrupted or completely replaced.”

OpenAI’s ChatGPT employs a generative large language model to generate new, valuable information for a wide range of use cases at orders of magnitude faster than what was previously possible. GenMat’s AI operates similarly, but instead of generating words and language for a wide range of use cases, it generates new atoms, molecules, and physical systems for a wide range of materials applications, harnessing aspects of humanity’s collective knowledge of physics and chemistry combined with proprietary synthetic datasets to discover new materials in an exponentially shorter time than traditional methods have allowed.

Kevin Kreisler, Comstock’s chief technology officer, added, “focusing and building on GenMat’s team and competencies in materials science, computational chemistry, and computational machine learning, while incorporating the bleeding edge of emerging artificial intelligence technologies will reinforce our competitive advantages in our metals, mining, and fuels businesses, while dramatically expanding our existing innovation capacity as we continue to develop more advanced solutions for enabling systemic decarbonization.”

Since our initial investment in 2021, GenMat has built an exceptional team and achieved a series of critical milestones in materials simulation and synthesis, in addition to successfully launching its orbital imaging and remote sensing satellite, developing its proprietary mission control software, and commencing commercial sales in its space business.

“Deep Prasad positioned GenMat for an extraordinary second opportunity commercializing satellite development, manufacturing and management that requires different skills and dedication,” continued De Gasperis. “Launching a new company that will leverage GenMat’s existing space-based assets evolved as the logical, win-win solution that allowed our respective companies to maximize the value of each enterprise, with Comstock fully owning and dedicating to GenMat, and Deep fully dedicated to, owning, and leading the new space-based enterprise.”

“GenMat is one of the world’s first physics-based AI for materials science startup companies,” added Deep Prasad, GenMat’s founder and former chief executive officer. “We couldn’t be prouder of our accomplishments in materials simulation and synthesis, and the emerging opportunities with space-based systems and technologies. We are excited with Comstock’s plans to build on our work to date, and our ability to now fully dedicate and focus on building our space-based technologies, assets, and operations.”

“The strategic value of leveraging physics-based AI cannot be overstated,” concluded Kreisler. “AI will allow us to build on our competitive advantages in this rapidly changing world, while positioning us to generate extraordinary shareholder value as we fulfill our mission to enable systemic decarbonization by innovating, developing, commercializing, and monetizing new technologies for producing, distributing, storing, and using energy more efficiently.”

Mr. Kreisler will lead the management of GenMat’s ongoing technology development and commercialization efforts, including as part of Comstock’s growing innovation capabilities, projects, and partner networks.

Technology Readiness Level

Comstock uses the technology readiness scale to estimate the readiness of technology from conception to commercialization, iterating sequentially as follows: (i) TRL 1 (basic principles observed and reported); (ii) TRL 2 (technology concept and application formulated); (iii) TRL 3 (analytical and experimental proof of concept); (iv) TRL 4 (validation in laboratory environment); (v) TRL 5 (pre-pilot scale validation in relevant environment); (vi) TRL 6 (pilot prototype demonstration in relevant environment); (vii) TRL 7 (scaled-up commercial prototype in operational environment); (viii) TRL 8 (commercial system demonstration); (ix) TRL 9 (commercial maturity).

GenMat’s materials discovery AI is at TRL 3 in some applications. GenMat is focused on the minimum sufficient requirements for simulating and synthesizing breakthrough new materials for use in energy applications at TRL 6, followed by both commercialization and integration into Comstock’s businesses.

Comstock’s original 2021 investment agreement with GenMat called for a milestone-based investment of $50,000,000 for 50% of GenMat’s fully diluted equity, including about $15,000,000 previously paid by Comstock. Comstock and GenMat agreed to terminate each of their prior agreements as part of the new acquisition agreement. Comstock expects to efficiently operate, integrate, and commercialize GenMat.

About Comstock Inc.

Comstock Social Media Policy

Contacts

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
questions@comstockinc.com

Forward-Looking Statements

Release – Aurania Discovers Nickel-rich Beach Placers in France and Signs Memoranda of Understanding

Posted on October 3, 2024October 3, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on AUIAF

Toronto, Ontario–(Newsfile Corp. – October 3, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”). Aurania has signed non-binding Memoranda of Understanding (“MOUs”) with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France, through Aurania’s wholly-owned subsidiary Corsica Ressources S.A. for the exploitation of heavy mineral beach placers that are highly enriched in nickel (Ni) and other metals. Analysis by Activation Laboratories Ltd (Actlabs) of Ancaster, Ontario, of a heavy mineral concentrate produced by simple gold panning the beach sand by hand yielded an assay of 50.4% nickel, 0.701% cobalt (Co), and 0.476% copper (Cu). A Mozley gravity table concentrate of magnetic beach sand performed by SGS Laboratories of Lakefield, Ontario yielded 40.1% nickel. These nickel grades are far in excess of any known hard rock deposits to our knowledge. The Management of Aurania was quick to realize the significance of this “discovery” and has worked over the last year with the Mineral Resources Department of the Ministry of Economy and Finance, the Interministral Delegation for the Provision of Critical Minerals and Strategic Metals as well as various levels of Government within Corsica.

Aurania’s Consultant Geologist, Stefan Ansermet, located a Geological Survey of France (BRGM) report from 1968 entitled “Le problème du nickel dans le serpentines de Corse” (The problem of nickel in the serpentinites of Corsica) which contained a one-paragraph reference to an accumulation of natural nickel-iron alloy (awaruite) on the beach of Albo, originating from asbestos mine waste that had been disposed of in the Mediterranean Sea. At the Canari open-pit mine, processed mine waste was dumped in the sea from 1948-1965. This has been broken up by storms and tides and travelled up to six kilometres along the coast and silted up two historic ports: Albo and Nonza. The awaruite mineral resides within the serpentinite host rock which in the surf has been naturally attrition milled. In the historical data a minus 2 millimetre fraction of beach sand from Albo, concentrated by heavy liquids, gave a Ni assay more than double the typical grade of mine waste. Aurania’s Chairman and CEO, Dr. Keith Barron examined satellite images on Google Earth and found what appeared to be beach placers of black sand on the nearby Nonza Beach (Figure 1). Within days, Mr. Ansermet travelled to Corsica and confirmed that there were indeed black sand accumulations on the beach (Figure 2). Subsequently, 130 kilos of sand were taken on a N-S traverse of Nonza beach. ALS-Chemex Laboratories determined that 31.7% of this raw material was magnetic through Davis Tube recovery. This magnetic sand is made up of free particles of awaruite (Ni₃Fe) and magnetite (Fe₃O₄). In the areas of black sand placer, the awaruite and magnetite content approaches 100%. Awaruite is a natural Ni-Fe mineral alloy with a composition approximating stainless steel with 77-83% Ni. Though the initial source of the awaruite was asbestos mine waste, there is no present hazard on the beaches according to the French National Institute of Industrial Environment and Risks. Both awaruite and magnetite are heavy minerals and easily recovered from beach sand by gravity techniques that are similar to placer gold recovery. Both minerals are also highly magnetic, and the magnetic susceptibility differences between magnetite and awaruite is such that they can easily be separated. The technology is simple, cheap, and well understood. No chemicals are used in the recovery. The awaruite product can be dried, bagged and shipped to a potential smelter or battery-grade nickel sulphate producer. SGS Labs (Lakefield) is currently working on the 130 kg sample to determine the most efficient means of separating out awaruite.

Dr. Barron commented, “A nickel prospect where a potential nickel-matte furnace feedstock requires no need for drilling, blasting, or beneficiation, and can possibly be shipped from Corsica direct to a purchaser sounds like a dream scenario. Encouraging local community support makes this even more attractive. I would like to thank Stefan Ansermet for alerting Aurania to this exceptional opportunity.”

Although this does represent a considerable departure from Aurania’s on-going copper and gold exploration project in Ecuador, Dr. Barron, who has considerable experience in commercial heavy mineral recovery, immediately recognized the economic significance of this phenomenon and initiated a project of geological investigation. Though artificial, it is believed that these are the sole alluvial concentrations of nickel known on Earth and that they potentially constitute a major resource of the metal heretofore unrecognized. According to the BRGM, more than 11Mt of processed serpentinite grading 0.2% Ni were dumped in the sea. However, the beach pebbles are predominantly larger than the historical 3 cm crushing width, suggesting that large amounts of development rock from stripping was also disposed of in the sea. At this juncture, the Company has not determined a Resource or Reserve.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_001full.jpg

Figure 1: Much evidence of Beach Placer concentration indicated by arrows (taken August 7, 2020) Google Earth (cf. Hou et al., 2017). Carried by longshore drift southwards 6 kilometres from the abandoned open pit mine to Nonza. This beach is approximately 1350 metres long and 350 metres at its widest. The beach placers are believed to be very high grade.

To view an enhanced version of this graphic, please visit:
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Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_002full.jpg

Figure 2: One of many beach placer accumulations of Black Sand (awaruite and magnetite). Boot imprints in the foreground for scale. Grains of magnetite extracted from Black Sand by attraction to a simple magnet, inset photo.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_002full.jpg

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Figure 3: Fairly pure concentrate of awaruite in a gold pan. This material assayed 50.1% nickel. Awaruite is present as silvery scales which tarnish yellow. Maximum grain size is approximately 2 mm.

To view an enhanced version of this graphic, please visit:
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Figure 4: Historical airphoto on the left and present-day photo on the right, showing the progradation of the beaches over time.

To view an enhanced version of this graphic, please visit:
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Figure 5: Nonza Beach, Corsica

To view an enhanced version of this graphic, please visit:
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Independently published studies have concluded that heavy metals (Ni, Co, Cu) are leaching from the beach material and contaminating marine life. The beaches themselves appear to be entirely sterile. We consider our Project equally as a critical metals recovery project and a “clean up operation”. Both of these are “wins” for the planet.

The Company has retained SGS Laboratories/Lakefield to determine the best method for awaruite commercial recovery. SGS has sent a Geologist to Corsica to verify the material above and to take umpire samples. His report is pending receipt of final assays. The Company has also retained IHC Mining B.V. a Netherlands-based company, which specializes in dredging solutions, that is currently preparing a scoping study to best advise on suitable heavy mineral recovery methods and equipment.

Technical Information

All sampling reported in this release was supervised by project geologists, including chain of custody. Hand sediment panning and alluvial grab samples have been prepared at the indicated laboratories, and certified reference standards are inserted into the sample stream to monitor laboratory performance. A portion of the material is stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program. Rock samples are reconnaissance select grab samples that display mineralization and assay results may not be representative of, nor verify economically mineable mineralization.

Qualified Persons:

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

SOURCE: Aurania Resources Ltd.

Release – LODE: Execution of Exclusive License and Cooperative R&D Agreement with Department of Energy’s National Renewable Energy Laboratory

Posted on October 2, 2024October 2, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

World Class Innovation Team Set Sights on 100% Renewable Sustainable Aviation Fuel and Fossil Parity

VIRGINIA CITY, NEVADA, October 2, 2024 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the execution by Comstock’s wholly-owned subsidiary, Comstock IP Holdings LLC, of an Exclusive License Agreement (“ELA”) and Cooperative Research and Development Agreement (“CRADA”) with Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) for conversion of lignocellulosic biomass into aromatic sustainable aviation fuel (“SAF”). NREL and MIT are separately party to an Inter-Institutional Agreement that appointed NREL the exclusive right to license NREL’s and MIT’s joint intellectual properties, and Comstock IP Holdings previously granted Comstock Fuels Corporation the master exclusive rights for commercialization of its existing and new renewable fuels technologies.

Comstock’s Existing Process

Comstock Fuels offers advanced lignocellulosic biomass refining solutions that produce market-leading yields of cellulosic ethanol, gasoline, renewable diesel, SAF, and other renewable fuels at extremely low carbon intensities. The Comstock Fuels process generally involves: (1) solvolytic digestion and fractionation of lignocellulosic biomass, (2) bioconversion of cellulose into Cellulosic Ethanol, (3) esterification of lignin and other derivatives into Bioleum Oil, (4) hydrodeoxygenation of Bioleum Oil into Hydrodeoxygenated Bioleum Oil (“HBO”), (5) refining of the resulting intermediates into ASTM compliant renewable fuels, and (6) gas-to-liquids emissions capture and fuel conversion. The first five of these processes are proven to produce up to 125 gallons of renewable fuel per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or GGE), depending on feedstock, lignin content, site conditions, and other process parameters, with extremely low carbon intensity scores of 15. The sixth step has the potential to increase bulk biomass conversion yields even further, to more than 140 GGE and more than 70% of the theoretical maximum yield from most forms of woody biomass.

Integrated Process

Comstock IP Holdings is focused on continuously improving the proven performance and operations of Comstock Fuel’s commercial refining solutions, including by increasing feedstock diversity, bulk conversion yields, and product quality for use in SAF while decreasing total variable costs.

The technologies covered by the NREL license have the proven potential to contribute to each of those objectives, including by depolymerizing and stabilizing intermediates, by reforming feedstock derived water to decrease reliance on fossil hydrogen, and by removing oxygen in a way that favors high concentrations of aromatic hydrocarbons for use in SAF.

David Winsness, President of Comstock Fuels, said, “Our existing commercial process unlocks and converts wasted, unused, and purpose grown woody biomass into renewable fuels at extraordinary yields and carbon intensities, essentially creating an endless oilwell hidden in plain sight. Our planned commercial facilities have been designed to tap into that oilwell to produce an array of intermediates and fuels. However, further developing and integrating the NREL technologies into our process could give us the remarkable additional ability to maximize aromatic content and quality specifically for high value use in addressing the recent global surge in demand for SAF.”

World Class Team

The terms of the CRADA involve a three-year scope of work to jointly develop an integrated process based on Comstock’s existing process and the NREL technologies for the solvocatalytic refining of woody biomass into aromatic SAF and other renewable fuels. Comstock will fund the research and contribute staff, equipment, and use of its pilot facility in Wisconsin. The joint work will be supported by a world class team, including Gregg Beckham, David Brandner, Mickey Stone, and Michelle Reed of NREL, Yuriy Román-Leshkov, MIT’s Robert T. Haslam Professor in Chemical Engineering, and Joshua Heyne, Director of the Bioproducts, Sciences, and Engineering Lab at Washington State University. The CRADA is anticipated to culminate in construction of a pre-commercial pilot system to validate the requirements needed to rapidly scale-up the resulting process into Comstock’s already planned 50,000 metric ton per year commercial demonstration facility.

Gregg Beckham, Senior Research Fellow for NREL, said, “An integrated process based on Comstock’s and NREL’s technologies would have remarkable potential in decarbonizing liquid fuels. Comstock’s established market leadership and commercial scale-up plans for its existing process provide an exciting opportunity to accelerate commercialization of NREL’s technology. Our respective teams from NREL and MIT are delighted to work with Comstock to scale-up this technology for low-carbon fuels and products.”

“Comstock’s mission is to enable systemic decarbonization, starting with transportation,” said Kevin Kreisler, Comstock’s chief technology officer. “Our plan to do so involves developing and commercializing highly profitable new processes that bootstrap the Earth’s natural carbon cycle while enabling stakeholders at all levels of the mobility supply chain to produce and use enough renewable fuels to decarbonize at globally meaningful scales. Our existing commercial process launches that effort, but we believe that we can maximize the breadth and rate of global market adoption with continued innovation to produce the world’s first 100% renewable SAF at costs that approach parity with fossil fuels. We believe that feat to be achievable by integrating Comstock’s and NREL’s technologies, and we’re excited to get to work.”

The ELA provides Comstock IP Holdings with the exclusive worldwide right to use the NREL technologies in the processing and conversion of seed plants to renewable fuels and renewable fuel feedstocks, including native, hybrid, and transgenic phenotypes, and derivatives thereof, excluding switchgrass, big bluestem, miscanthus, and the leaves, stalks, and husks produced during the harvesting of corn, subject to limited geographic restrictions, in exchange for royalty and other fees linked to sales of licensed products and sublicensing.

NREL’s and MIT’s prior work on the NREL technologies was initially funded by the Center for Bioenergy Innovation, a DOE Research Center supported by the Office of Biological and Environmental Research in the DOE Office of Science, and the DOE Bioenergy Technologies Office on the Lignin Conversion to Sustainable Aviation Fuel Blendstocks project. More information on the technologies is available online in the articles titled Catalytic Process With Lignin Could Enable 100% Sustainable Aviation Fuel, Making Aviation Fuel from Biomass, and Continuous Hydrodeoxygenation of Lignin to Jet-Range Aromatic Hydrocarbons.

Technology Readiness Level

The NREL technologies covered by the Comstock license have been validated at TRL 4. The scope of work under the CRADA involves rapid validation of an integrated TRL 3 process based on Comstock’s and NREL’s technologies, followed by construction of a TRL 6 pre-commercial pilot system. Once complete, a modular TRL 7 scale-up of the integrated process would be added to Comstock’s recently announced 50,000 metric ton per year demonstration facility to provide the data required for scale-up in Comstock’s planned 1,000,000 metric ton per year commercial facilities at TRL 8.

About Comstock Inc.

Comstock Social Media Policy

CONTACTS:

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Zach Spencer
Tel (775) 847-7532
questions@comstockinc.com

Forward Looking Statements

Release – MustGrow Provides 2024 Pipeline Update

Posted on September 24, 2024September 24, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on MGROF

MustGrow transitions from R&D to commercialization.
TerraSante^TMbiofertility product manufacturing and sales has commenced, with potential initial sales ramp-up in 2025 and 2026.
Commercialization of TerraMG^TM soil biopesticide is progressing under the Bayer commercial agreement in the EU, Middle East and Africa.
Registration work for TerraMG^TM soil biopesticide continues in the U.S. and Canada.
Expiration of exclusive non-commercial agreements.
Intellectual property portfolio continues to grow.
Management presentation and Q&A set for Tuesday September 24, 2024.

Saskatoon, Saskatchewan–(Newsfile Corp. – September 23, 2024) – MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the “Company” or “MustGrow”) is pleased to provide its 2024 pipeline update. The Company is a leader in innovative biological nutrition and crop protection solutions from mustard and today announced significant developments in the commercialization of its flagship products, TerraSante^TM and TerraMG^TM, as the Company advances its efforts to transform sustainable agriculture.

TerraSante^TM: Initial Sales and Market Opportunity

MustGrow is pleased to announce that TerraSante^TM is in the initial stages of commercialization, with product registration successfully obtained in key high value crop growing U.S. states, including California, Florida, Arizona, Idaho, Oregon, and Washington. The Company is receiving purchase orders and sales have commenced, marking a major milestone for the Company.

To assist in executing the direct sales and marketing strategy in the U.S., MustGrow engaged the services of two key industry veterans, Tim Lichatowich and Mike Atkins, who have close to six decades of combined experience in the fruit, vegetable and row crop markets.

“We are seeing strong initial interest in TerraSante^TM, particularly in California, where the market demand for a product like MustGrow’s is significant,” said Mike Atkins. Tim Lichatowich, who led multiple grower and industry meetings in California throughout 2024 also commented, “The potential for TerraSante^TM is even greater than we anticipated, with opportunity for multiple applications per year over large acreages.”

Key highlights of TerraSante^TM‘s market progress include:

Initial Sales: Sales have commenced in the U.S., following registrations in several key fruit & vegetable growing states.

Potential Market Opportunity: To date, MustGrow’s representatives are in direct contact with production companies covering an estimated 355,000 acres. These acres support multiple crops per year, therefore, there is potential for multiple applications of TerraSante^TM annually. Sales volume from multiple applications is beyond what was initially anticipated, and as such, the 355,000 acres could potentially translate into 850,000 to 1 million acres per year application potential. This is just on a small fraction of the estimated 5.6 million acres of high value crops in the US (fruit & vegetable; tree, nut & vine; root & tuber).
Potential Future Growth: For 2024 and 2025, initial sales and successful customer testing results will drive sales growth. Commercial sales and data on product performance is expected during the upcoming winter and spring. From there, management anticipates a full-scale sales ramp-up in 2025 and 2026.

TerraSante^TM Production Update

Manufacture of TerraSante^TM started in 2023 with MustGrow’s first commercial production run. MustGrow is actively planning for larger-scale production to meet anticipated demand. The Company is exploring various production options, including existing and expanded contract manufacturing partnerships.

“This is a very exciting time for MustGrow with actual production and sales,” said Corey Giasson, MustGrow’s President & CEO. “A few years ago, I mentioned that MustGrow was going to start the commercialization process. Well we did, and what you are witnessing is the transformation of the Company from being strictly an R&D company to now one with product sales. Our goal with TerraSante^TM, and other future registered products such as TerraMG^TM, is to not only produce enough product to meet demand but do so in a cost-effective manner so as to increase margins and return on investment. You can be rest assured, that MustGrow’s management focuses on this each and every day.”

TerraSante^TM for Soil and Ecological Health

MustGrow’s soil amendment and biofertility development programs focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer’s most valuable asset, and MustGrow’s mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment.

As an organic biofertilizer in wettable powder form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing.

TerraMG^TM: Progress with Bayer

TerraMG^TM‘s commercialization is progressing under MustGrow’s commercial agreement with Bayer for Europe, the Middle East, and Africa. While registrations are still in process in the US and Canada, MustGrow is encouraged by the ongoing work and progress being made alongside Bayer in the EU.

“We are very pleased with how things are proceeding with Bayer and they have been a great partner,” said MustGrow’s CEO. “Field trials are continuing in multiple countries and regions, and Bayer’s technical, regulatory, production, sales and marketing teams are providing excellent support as we work to advance TerraMG^TM under the commercial agreement.”

Key developments for TerraMG^TM under the Bayer commercial agreement include:

Signing of the Bayer Commercial Agreement: This agreement, signed in December 2023, includes licensing for Europe, the Middle East, and Africa, and included an upfront payment as well as milestone payments to MustGrow for development and registration work.
Field Trials and Technical Success with Bayer: Field trials and technical evaluations continue to yield positive results for both nematode and disease treatment, with the next program review scheduled for the end of October at the Annual Biocontrol Industry Meeting (“ABIM”) meeting in Basel.
Assessing Future Production for Bayer: MustGrow and Bayer are also focusing on sourcing raw materials and scaling production capabilities for future sales and growth.

TerraMG^TMin U.S. and Canada

TerraMG^TM registration work continues to progress in the U.S. with the Environmental Protection Agency (“EPA”) and in Canada with the Pest Management Regulatory Agency (“PMRA”). MustGrow continues to work closely with regulatory agencies and consultants and management remains committed to continuing these registrations.

Exclusive Non-Commercial Agreements

MustGrow is announcing expiration of the exclusive non-commercial agreements with NexusBioAg, Janssen PMP and Sumitomo Corporation. The Company collected substantial data and market analysis through these agreements and will now move forward on a non-exclusive basis with multiple parties to commercialize these opportunities.

Intellectual Property Portfolio

MustGrow continues to build its intellectual property portfolio, with 112 issued and pending patents, even as the Company pivots from R&D toward commercialization. This is up from 84 total patents issued and pending in March of 2023.

The intellectual property pipeline continues to grow through MustGrow’s own work as well as collaborations with university, government and other research groups. Expanded infield applications of existing formulations as well as new active ingredients are generating new product and patent opportunities. Most recently, the Company and Agriculture and Agri-Food Canada announced funding to explore the possibilities of MustGrow’s mustard extracts in the human and animal health area.

Future Roadmap

Looking ahead, MustGrow’s 2024-2025 roadmap focuses on delivering the commercialization of TerraSante^TM and TerraMG^TM, validating product efficacy through sales, and driving global expansion. The Company is committed to fostering its partnership with Bayer and securing new commercial partners in non-commercialized territories, including Mexico, South America, and Asia.

“We are evolving as a Company, and sales, margins and return on investment will become key drivers for our growth moving forward,” said Mr. Giasson. “While blue-sky opportunities remain important, our focus will shift towards delivering on our commercial potential.”

Management Presentation and Q&A

MustGrow is pleased to invite investors and other interested parties to attend an upcoming interview with Market Radius Research. The Company’s CEO Corey Giasson and COO Colin Bletsky will be presenting an update and taking any questions for the audience. The webinar will be a live, interactive online event where attendees are invited to ask the Company questions in real-time following the interview. An archived webcast will be made available for those who cannot join the event live on the day of the webinar.

Event: Radius Research Pitch, Deep Dive, and Q&A with MustGrow Biologics (MGRO)
Presentation date & time: Tuesday, September 24th @ 4 PM ET
Registration link:

Market Radius Research gives individual investors access to in-depth CEO interviews with deep-dive institutional level discussion and Q&A. Market Radius is hosted by Martin Gagel, former top-ranked technology analyst. By registering for this webinar, you agree to receive email communications from Market Radius Capital, Inc. and from the presenting company (with unsubscribe). Your email will not be further shared. Martin Gagel and Market Radius Capital, Inc. are not registered or licensed to provide investment advice and may own shares in mentioned companies and may be compensated for these services. Content is for information purposes only and is not advice or recommendations and may include incomplete or incorrect information. Investing entails a high degree of risk. This is a production of Market Radius Capital, Inc.

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. The Company has a registered and organically certified biofertility product call TerraSante^TMin key U.S.-states including California. Registrations of TerraSante^TM are owned by MustGrow and production and sales of TerraSante^TM has commenced with ramp-up slated to begin in 2025 and 2026. Commercialization is also occurring under biocontrol, with Bayer signing on under a Commercial Licensing agreement in December 2023 for the TerraMG^TM soil biopesticide in Europe, the Middle East and Africa. MustGrow estimates that Bayer will spend US$35-40 million for upfront and milestone payments and registration work of TerraMG^TM in their respective territory. The Company’s main focus is continued commercialization globally of it products and technologies, and to expand its intellectual property portfolio from approximately 112 patents that are issued and pending. MustGrow is a public company (TSXV: MGRO) and has approximately 51.6 million basic common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.

Contact Information

Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: its commercialization strategy; its continuing efforts towards further state-level registrations; TerraSante^TM ability to improve beneficial microbial activity; the ability of TerraSante^TM to increase plant vigor and yields; and the ability of TerraSante^TM to improve crop nutrient uptake. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include market receptivity to investor relations activities as well as those risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224296

Release – Aurania completes sale of its Peruvian subsidiary to Palamina Corp.

Posted on September 23, 2024September 23, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on AUIAF

Toronto, Ontario, September 23, 2024 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) announces that Palamina Corp. (TSXV: PA, OTCQB: PLMNF) has completed the acquisition of 100% of the shares of Aurania’s Peruvian Subsidiary, Sociedad Minera Vicus Exploraciones S.A.C. (“Vicus”), as anticipated in the press release dated June 10, 2024.

Aurania received 350,000 common shares of Palamina Corp. and was granted a 1% Net Smelter Return (“NSR”) royalty as full payment for the purchase of Vicus. Palamina has the option to buy back half of the NSR for $1,000,000 at any time.

Palamina’s Pluma copper silver project is the only asset held in Vicus. It covers 9,800 hectares in northeastern Peru and Palamina S.A.C. intends to transfer its Sora, Volcano and Galena copper silver projects into Vicus.

About Palamina Corp.

Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru. Palamina is adding value through drill discovery at its Usicayos gold project. Palamina also has an “acquire and hold” strategy with copper silver assets in southeastern and northeastern Peru. Palamina holds a 15.4% equity interest in Winshear Gold Corp. (WINS:TSX.V) and a 2% NSR royalty on all their projects. Winshear plans to conduct an inaugural drill program at their Gaban Gold Project in 2024. Palamina has 71,284,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB Venture Market under the symbol PLMNF.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

For further information, please contact:

Carolyn MuirVP Corporate Development & Investor RelationsAurania Resources Ltd.(416) 367-3200carolyn.muir@aurania.com

Cautionary Statement Regarding Forward-Looking Information:

Release – MustGrow Receiving Funding from Agriculture and Agri-Food Canada for Human & Animal Health Applications

Posted on September 17, 2024September 17, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on MGROF

MustGrow will be receiving funding from Agriculture and Agri-Food Canada to investigate mustard-derived ingredient opportunities in human & animal health applications.
Potential product opportunities may include application in functional foods and nutraceuticals for improved immunity and gut health in humans, as natural food preservatives, as well as a replacement for antibiotics in animal feeds.

SASKATOON, Saskatchewan, Canada, September 17, 2024 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the “Company” or “MustGrow“) is pleased to announce funding from Agriculture and Agri-Food Canada (“AAFC“) to investigate mustard-derived ingredient opportunities in human & animal health and food applications (the “Project“). The funding is provided through the AgriScience Program – Projects Component, under the Sustainable Canadian Agricultural Partnership.

The work will be conducted in connection with AAFC’s Guelph Research & Development Centre (“GRDC“) located in Guelph, Ontario, Canada, and it will be led by Dr. Rong Cao. Costs associated with the Project will be covered by both MustGrow and AAFC through a Collaborative Research and Development Agreement under the AgriScience Program. All investigational research activities will be conducted at the GRDC. The funding amount received from AAFC is subject to the negotiation of the Collaborative Research and Development Agreement. The funding does not imply Government of Canada endorsement of MustGrow’s findings, products, or practices.

MustGrow has always suspected potential product ingredient opportunities of mustard derivatives in human & animal health applications, including functional foods and nutraceuticals for improved immunity and gut health in humans, as natural food preservatives, as well as a replacement for antibiotics in animal feeds. The GRDC is a leading research institute in food health attributes and safety.

MustGrow will continue to focus on its core business in natural agricultural biopesticides, biofumigants, and biofertility products derived from the mustard seed or its processing by-products, while pursuing this opportunity in human and animal health in a cost-effective and expedient structure. MustGrow’s biofertility product, TerraSante^TM, is currently being marketed and sold in the United States, with additional biocontrol development programs underway with four global partners: Bayer, Sumitomo Corporation, Janssen PMP, and NexusBioAg.

The Health Program

Together, MustGrow and AAFC will:

Analyze the major bioactive components in mustard seed that may have antibiotic and gut health applications in both humans and animals.
Assess yellow mustard extracts for efficacy in converting glucosinolates into active ingredients that may have antibiotic and gut health applications in both humans and animals.
Test the selected bioactive components for antifungal and antibacterial activities against food spoilage microbes and disease pathogens, including the banana-plaguing disease Fusarium wilt TR4.
Test the selected bioactive components for antioxidant and anti-inflammatory effects, for use as ingredients in functional foods and nutraceuticals for improved immunity and gut health in both humans and animals.

MustGrow has always believed that there is a potential for new products to be developed and deployed in antibiotic and gut health applications using bioactives derived from the mustard seed. These new applications would be directed at antimicrobial, antioxidant, and anti-inflammatory uses in functional foods, gut health, and nutraceuticals in both human and animal health.

Global Threat

Antimicrobial resistance (“AMR“) has become a leading global cause of death and is one of the greatest global health challenges: a growing threat to both human and animal health, as well as global food security.⁽¹⁾ In 2019, an estimated 4.95 million deaths were associated with bacterial AMR, including 1.27 million deaths directly attributable to bacterial AMR itself.⁽²⁾

The 2022 global animal antibiotics market was valued at US$5.6 billion, with usage estimates for cattle, sheep, chicken, and pigs expected to increase to 107,472 tonnes by 2030 (an 8% increase over 2020).⁽³⁾⁽⁴⁾Experts warn that overuse of antibiotics in livestock could lead to potentially fatal antibiotic-resistant infections in these animals, and alarmingly in humans as well, as new bacteria emerge with built-in resistance to the human immune system.⁽⁴⁾

Some estimate antibiotic-resistant infections will kill as many as 10 million per year people by 2050 – on par with the 2020 global death toll from all cancers.⁽⁵⁾

Sources:

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow’s biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed^®) and California’s Organic Input Material (OIM) Program registered biofertility product, TerraSante^TM, in key U.S. states including California. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.

Contact Information

Corey Giasson

Director & CEO

Phone: +1-306-668-2652

info@mustgrow.ca

MustGrow Forward-Looking Statements

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: the product ingredient opportunities of mustard derivatives in human & animal health application, the use of the proceeds of the funding; the outcome of the Health Program; the continued persistence of antimicrobial resistance; and the Company’s focus on its core products and business. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. These risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

Disclaimer:

This news release may include references to third-party information, opinions, or statements. The Company does not guarantee the accuracy, reliability, or completeness of any information provided by third parties. Such information is included solely for informational purposes and should not be construed as endorsements or representations. Readers are advised to independently verify any claims, statements, or conclusions drawn from third-party sources before making any decisions or taking action based on this information.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Release – MustGrow Receives Florida Registration for TerraSante Biofertility Product

Posted on September 11, 2024September 11, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on MGROF

MustGrow has received approval from the Florida Department of Agriculture and Consumer Services to commence sales of TerraSante^TM, an organic biofertility product, in the State of Florida.
Mustard-derived TerraSante^TM focuses on soil and soil microbiome health, nutrient/water use efficiencies, and plant yields.

SASKATOON, Saskatchewan, Canada, September 11, 2024 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the “Company” or “MustGrow”) is pleased to announce receipt of the Florida Department of Agriculture and Consumer Services registration approval for its mustard plant-based TerraSante^TM, an organic biofertility product. The Florida organic certification is included under MustGrow’s existing Organic OMRI Listed^® certifications in Arizona, Idaho, Oregon, and Washington State.

MustGrow’s Florida registration and organic certification is a key pillar in the commercialization strategy with BioAg Product Strategies. In addition to Florida, and recently-awarded Arizona, Idaho, California, Oregon, and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states.

Florida has approximately 47,300 farms, citrus groves, and ranches totalling 9.7 million acres, producing a wide variety of fruits, vegetables, and floriculture. In 2022, Florida ranked first in the U.S. in the production value of bell peppers (US$262 million), floriculture (US$1.16 billion), foliage plants for indoor use (US$481 million), Valencia oranges (US$289 million), grapefruit (US$706 million), sugarcane (US$752 million), fresh market tomatoes (US$323 million) and watermelons (US$216 million). Florida ranked second in the U.S. in production value for all oranges (US$491 million), strawberries (US$511 million), and sweet corn (US$124 million).⁽¹⁾

TerraSante^TM for Soil and Ecological Health

As an organic biofertilizer in soluble mixable form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing.

To learn more about TerraSante^TM, visit www.mustgrow.ca.

Source:
1) Florida Agriculture Overview and Statistics / Agriculture Industry / Home – Florida Department of Agriculture & Consumer Services (fdacs.gov)

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow’s biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed^®) and California’s Organic Input Material (OIM) Program registered biofertility product, TerraSante^TM, in key U.S. states including California. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.

Contact Information

Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.