Great Bear Resources Ltd. (GTBAF)(GBR:CA) – Phase 2 Drilling Expected to Commence in August

Thursday, July 29, 2021

Great Bear Resources Ltd. (GTBAF)(GBR:CA)
Phase 2 Drilling Expected to Commence in August

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Completion of Phase 1 drilling. Since May 2019, Great Bear has completed 440 drill holes, representing 222,500 meters of drilling, at the LP Fault. The company’s Phase 1 drill program is largely complete to an average of 450 meters depth over ~4 kilometers of strike length. Of the 440 drill holes, results for 109 remaining are expected to be released during the next several months. The company expects to publish a maiden mineral resource estimate by the end of the first quarter of 2022. In total, Great Bear has completed 630 drill holes into all four gold zones since drilling commenced in the summer of 2017.

    Phase 2 expected to commence in August.  Great Bear expects to begin Phase 2 drilling in the second week of August. The program will include expansion drilling of the LP Fault below 450 meters depth and along strike, additional infill drilling of the upper 450 meters of the LP Fault, expansion and infill drilling of the Hinge, Limb, and Arrow zones, and testing of new regional targets …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Chakana Copper Corp (CHKKF)(PERU:CA) – Impressive Drill Results Among Four Targets at Soledad

Wednesday, July 28, 2021

Chakana Copper Corp (CHKKF)(PERU:CA)
Impressive Drill Results Among Four Targets at Soledad

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Latest drill results. Chakana Copper released results from 9 resource definition and exploration holes, representing 1,993.2 meters of drilling, at the Huancarama East, Paloma West, Bx1, and Bx7 tourmaline breccia pipe discoveries. Mineralization was encountered in all holes drilled. The drilling program continues to yield impressive results and affirm zones of massive sulfide at the Soledad project. To date, only 15 out of 110 targets on the Soledad property have been drill-tested.

    Initial resource estimate expected in Q4′ 2021.  Including drilling activities that commenced in August 2020, a total of 32,000 meters of drilling is anticipated through 2021. This includes 76 drill holes, representing 15,939.35 meters of drilling in the Paloma and Huancarama areas, for which results have been released. For the 26,000 meters of drilling planned in 2021, the company expects to …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Palladium One Mining Inc. (NKORF)(PDM:CA) – Tyko Nickel-Copper Project Area Enlarged with Purchase and Earn-In Agreements

Wednesday, July 28, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Tyko Nickel-Copper Project Area Enlarged with Purchase and Earn-In Agreements

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Expansion of the Tyko project. The Tyko Nickel-Copper project area has been increased to 24,550 hectares from 20,100 hectares with the purchase of new claims representing 3,500 hectares, along with two separate earn-in agreements representing an additional 950 hectares. These acquisitions follow the completion of the Phase II drill program which revealed high-grade nickel intercepts and significant exploration potential.

    Airborne geophysical survey completed.  An airborne versatile time-domain electromagnetic (VTEM) survey has been completed across the entire Tyko project. A key focus of the program is to trace the Smoke Lake sulphide lens to depth and identify the source of sulphide mineralization, along with identifying other zones of nickel-copper sulphide mineralization on the Tyko property. The results will be …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Great Bear Completes Phase 1 Grid Drilling to 450 m Depth at LP Fault


Great Bear Completes Phase 1 Grid Drilling to 450 m Depth at LP Fault: 440 Holes, 222,500 m Drilled Since May 2019 Discovery

 

July 28, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provides an update regarding its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “We have now completed 440 drill holes at the LP Fault, and our Phase 1 drill grid is substantially complete to an average 450 metres depth along over 4 kilometres of strike length.  109 of the 440 drill holes totalling over 40,000 metres are currently in various stages of assay progress, with results expected regularly over the next 2 – 3 months.  Maiden mineral resource estimate modeling of the first 450 metres of mineralization from surface of the LP Fault is underway and is expected to be published no later than Q1 2022.”

The Company will now commence Phase 2 drilling, which will consist of: 1) Ongoing expansion drilling of the LP Fault below 450 metres depth and along strike, 2) any additional infill drilling of the upper 450 metres of the LP Fault that may be required after review, 3) expansion and infill drilling of the Hinge, Limb and Arrow zones, and 4) testing of new regional targets at Dixie.

More comprehensive Phase 2 drill plans, along with a description of which portions of the currently drilled mineralized zones will be included in the maiden mineral resource estimates, will be released after receipt and interpretation of current outstanding drill results.  Great Bear has approximately $83 million in cash on hand and is funded through 2022.  In total, Great Bear has completed 630 drill holes totaling 283,000 metres into all gold zones since beginning drilling at the Dixie Project in summer 2017.

 

Regional Forest Fire Update


Due to regional forest fire activity, on July 21st the Ministry of Northern Development, Mines, Natural Resources and Forestry (MNRF) issued a work suspension order for many construction, mining, mineral exploration and forestry related activities over an area extending from Marathon, Ontario to the Manitoba border, which includes Red Lake.  The order is expected to extend until local fire risk conditions improve.

In order to protect drill crews and Red Lake staff, Great Bear initiated a planned three-week suspension of drilling at the Dixie property on July 18th, coinciding with the conclusion of its Phase 1 grid drill program, and prior to the MNRF order being issued.  Phase 2 drilling is expected to begin on or around the week of August 9th, subject to fire safety conditions and modified work plan approvals from the MNRF at that time.  The current work suspension is not expected to significantly impact Great Bear’s progress at the Dixie Project, or maiden mineral resource estimation completion timing.

Chris Taylor continued, “We would like to sincerely thank all of the dedicated fire fighting crews for their courage and ongoing efforts to protect all of the affected regional communities, including Red Lake.  Special thanks also go out to the many groups of private volunteers, including Great Bear team members, local companies and members of all levels of government who are involved with supporting the fire fighting efforts.”

Forest fires and ongoing Ontario government work orders can be tracked at:

https://www.ontario.ca/page/forest-fires

About the Dixie Project

The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault).  The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear

Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 200 km2 of highly prospective tenure across 4 projects, all 100% owned: The flagship Dixie Project, the Pakwash Property, the Sobel Property, and the Red Lake North Property, all of which are accessible year-round through existing roads.

 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                 

Chris Taylor, President and CEO

 

Investor Inquiries:

Ms. Jenni Piette,

Director, Sustainability and Stakeholder Relations

Tel: 604-646-8354

info@greatbearresources.ca

www.greatbearresources.ca

 

Cautionary note regarding forward-looking statements





This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.




Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.




Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.






Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.




Great Bear Completes Phase 1 Grid Drilling to 450 m Depth at LP Fault 440 Holes, 222,500 m Drilled Since May 2019 Discovery


Great Bear Completes Phase 1 Grid Drilling to 450 m Depth at LP Fault: 440 Holes, 222,500 m Drilled Since May 2019 Discovery

 

July 28, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provides an update regarding its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “We have now completed 440 drill holes at the LP Fault, and our Phase 1 drill grid is substantially complete to an average 450 metres depth along over 4 kilometres of strike length.  109 of the 440 drill holes totalling over 40,000 metres are currently in various stages of assay progress, with results expected regularly over the next 2 – 3 months.  Maiden mineral resource estimate modeling of the first 450 metres of mineralization from surface of the LP Fault is underway and is expected to be published no later than Q1 2022.”

The Company will now commence Phase 2 drilling, which will consist of: 1) Ongoing expansion drilling of the LP Fault below 450 metres depth and along strike, 2) any additional infill drilling of the upper 450 metres of the LP Fault that may be required after review, 3) expansion and infill drilling of the Hinge, Limb and Arrow zones, and 4) testing of new regional targets at Dixie.

More comprehensive Phase 2 drill plans, along with a description of which portions of the currently drilled mineralized zones will be included in the maiden mineral resource estimates, will be released after receipt and interpretation of current outstanding drill results.  Great Bear has approximately $83 million in cash on hand and is funded through 2022.  In total, Great Bear has completed 630 drill holes totaling 283,000 metres into all gold zones since beginning drilling at the Dixie Project in summer 2017.

 

Regional Forest Fire Update


Due to regional forest fire activity, on July 21st the Ministry of Northern Development, Mines, Natural Resources and Forestry (MNRF) issued a work suspension order for many construction, mining, mineral exploration and forestry related activities over an area extending from Marathon, Ontario to the Manitoba border, which includes Red Lake.  The order is expected to extend until local fire risk conditions improve.

In order to protect drill crews and Red Lake staff, Great Bear initiated a planned three-week suspension of drilling at the Dixie property on July 18th, coinciding with the conclusion of its Phase 1 grid drill program, and prior to the MNRF order being issued.  Phase 2 drilling is expected to begin on or around the week of August 9th, subject to fire safety conditions and modified work plan approvals from the MNRF at that time.  The current work suspension is not expected to significantly impact Great Bear’s progress at the Dixie Project, or maiden mineral resource estimation completion timing.

Chris Taylor continued, “We would like to sincerely thank all of the dedicated fire fighting crews for their courage and ongoing efforts to protect all of the affected regional communities, including Red Lake.  Special thanks also go out to the many groups of private volunteers, including Great Bear team members, local companies and members of all levels of government who are involved with supporting the fire fighting efforts.”

Forest fires and ongoing Ontario government work orders can be tracked at:

https://www.ontario.ca/page/forest-fires

About the Dixie Project

The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault).  The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear

Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 200 km2 of highly prospective tenure across 4 projects, all 100% owned: The flagship Dixie Project, the Pakwash Property, the Sobel Property, and the Red Lake North Property, all of which are accessible year-round through existing roads.

 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                 

Chris Taylor, President and CEO

 

Investor Inquiries:

Ms. Jenni Piette,

Director, Sustainability and Stakeholder Relations

Tel: 604-646-8354

info@greatbearresources.ca

www.greatbearresources.ca

 

Cautionary note regarding forward-looking statements





This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.




Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.




Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.






Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.




Release – Palladium One Expands the Tyko Sulphide Nickel-Copper Project to 24500 hectares and Completes VTEM Survey


Palladium One Expands the Tyko Sulphide Nickel-Copper Project to 24,500 hectares and Completes VTEM Survey

 

KEY HIGHLIGHTS

  • Two Earn-in agreements expand the Tyko Nickel-Copper Project by 950 hectares
  • Additionally, 3,500 hectares were purchased from the original Optionors of the Tyko Project.
  • Tyko Nickel-Copper Project currently over 24,500 hectares
  • 3,100-kilometer airborne Electro Magnetic (VTEMmax) geophysical survey completed
  • Summer exploration field crews are onsite conducting reconnaissance mapping, prospecting and soil sampling. The first 1,000 soil samples have been sent for assaying, results pending

July 27, 2021 – Toronto, Ontario – The footprint of the Tyko Nickel-Copper Project, which returned drill intercepts from massive magmatic sulphide of up to 9.9% Nickel equivalent (“Ni_Eq”), (23.0% Copper equivalent, 30.1 g/t Gold equivalent*over 3.8 meters in hole TK21-023 (Table 1) has been expanded by 4,400 hectares, said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Tyko has grown from 20,100 hectares to over 24,500 hectares since the Phase II drill program was completed.

An option agreement with First Class Metals Ltd, for the Pickle Lake property, consists of 700 hectares located on the west side of the Tyko project and is proximal to the historic RJ zone which returned up to 1.2% Ni_Eq (2.78% Cu_Eq and 3.6g/t Au_Eq*) over 16.2 meters in hole TK16-002 (see news release April 12, 2016). A second option agreement for the Cupa Lake property with a local prospector consists of 250 hectares and is located 8km east of the Smoke Lake Zone.

President and CEO, Derrick Weyrauch commented, “Tyko continues to impress and warrants increased levels of expenditure and exploration. Results to date demonstrate robust mineralization spread over at least 18 kilometers, yet the area has seen virtually no government mapping or exploration. We believe that in addition to the high-grade Smoke Lake zone, there are new zones off nickel-copper mineralization yet to be discovered. We are awaiting result from the 3,100-kilometer airborne Electro Magnetic (VTEMmax) survey which will guide further exploration.”

200-square kilometer, VTEMmax survey

Geotech’s Versatile Time Domain Electromagnetic airborne system (VTEMmax) survey has been completed across the entire Tyko project. The survey comprised greater than 3,100-line kilometers of closely spaced (100-meter) flight lines. It is the most comprehensive and sensitive airborne geophysical survey ever flown on the Tyko property and covered large areas for which no airborne Electro Magnetic surveys had ever been flown, including the area surrounding the Shabotik showing, having up to 1.0% Nickel, see press release August 19, 2019.

Summer Field Program

Mapping, prospecting and soil sampling is well underway with 1,000 soil samples having already been submitted to the assay lab. This program is designed to ground truth historic and new geophysical anomalies. The vast majority of the Tyko project has seen little to no exploration, or even government mapping.

Figure 1. Tyko Project, with various historic total field magnetic surveys as the background. Newly acquired ground is shown in black hatched areas.

Table 1: Select 2020 & 2021 Drill Results from the Smoke Lake

Hole

From
(m)

To
(m)

Width
(m)

Ni_E
%

Cu_
%

Au_
g/t*

Ni
%

Cu
%

Co
%

PGE g/t
(Pd+Pt
Au)

Pd
g/t

Pt
g/t

Au
g/t

TK20-016

29.0

32.8

3.8

8.74

20.38

27.16

6.65

3.70

0.09

1.51

0.67

0.81

0.03

Inc.

29.8

32.5

2.7

9.80

22.86

30.45

7.47

4.16

0.10

1.64

0.74

0.87

0.03

TK20-022

46.8

51.0

4.2

7.46

17.40

23.05

5.83

2.74

0.09

1.28

0.56

0.70

0.01

Inc.

48.5

50.6

2.1

8.78

20.48

26.68

7.26

2.34

0.12

1.30

0.48

0.81

0.01

TK20-023

5.3

12.8

7.5

6.07

14.15

18.94

4.49

2.86

0.06

1.01

0.44

0.55

0.02

Inc.

8.9

12.8

3.8

9.87

23.02

30.10

8.13

2.88

0.11

1.33

0.61

0.71

0.02

Inc.

8.9

10.5

1.6

11.05

25.79

33.08

9.80

1.67

0.13

1.27

0.54

0.72

0.01

TK21-034

66.3

73.0

6.7

4.57

10.67

14.30

3.42

2.05

0.05

0.81

0.39

0.40

0.01

Inc.

66.3

71.3

5.0

5.95

13.88

18.57

4.47

2.62

0.06

1.06

0.51

0.53

0.02

Inc.

66.3

68.0

1.7

9.54

22.26

29.46

7.50

3.51

0.09

1.64

0.73

0.88

0.02

TK21-035

4.9

9.3

4.5

7.45

17.38

22.98

5.89

2.70

0.08

1.06

0.54

0.50

0.02

Inc.

6.0

7.7

1.7

10.17

23.73

30.51

9.09

1.23

0.13

1.34

0.73

0.59

0.02

TK21-041

130.4

132.8

2.4

5.96

13.91

18.45

4.74

1.97

0.07

1.15

0.60

0.52

0.02

Inc.

131.2

132.8

1.7

8.28

19.31

25.53

6.65

2.60

0.09

1.52

0.78

0.71

0.03

(1) Reported widths are “drilled widths” not true widths.
(2) * Au_Equivalent is calculated for comparison purposes using recent spot prices, $8lb nickel, $4.4/lb copper, $19/lb cobalt, $2,700/oz palladium, $1,150/oz platinum, $1,900/oz gold.
(3) **Italicised orange highlighted results are previously released results see news release June 23, 2021

*Nickel Equivalent (“Ni_Eq”) and Copper Equivalent (“Cu_Eq”)
Nickel and copper equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne (US$3.00 per pound) for copper, US$15,432 per tonne (US$7.00 per pound) for nickel and US$30,865 per tonne (US$14 per pound) for Cobalt. This calculation is consistent with the commodity prices used in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

Transaction Details

First Class Metals Ltd. – Pickle Lake (formerly, Pezim II) Property – 700 hectares – Grant of Earn-In Right

The Company can earn up to an 80% undivided working interest and a royalty Buy-Back Right, in the Earn-In Properties, over a 3-year earn-in period by incurring Canadian Exploration Expenses as follows:

Year 1 – an amount of not less than C$25,000 on or before the 1st anniversary of the Effective Date:

Year 2 – an amount of not less than C$135,000 (for an aggregate amount of $160,000) on or before the second anniversary of the Effective Date to earn a 51% interest; and

Year 3 – an amount of not less than C$165,000 (for an aggregate amount of not less than $325,000) and by preparing a National Instrument 43-101 (“NI43-101”) Technical Report with respect to the Earn-In Properties on or before the third anniversary of the Effective Date to earn an additional 29% (for a total aggregate 80% interest).

Upon the Company earning either a 51% or 80% working interest in the Earn-In Properties, a Joint Venture Agreement shall be formed and the Company shall be the operator. Should either party not fully participate in future expenditures, its ownership interest shall be diluted and if one party is diluted to a 10% working interest, that party (“NSR Holder”) shall be granted a 1% NSR Royalty in respect of the Earn-In Properties, while the Surviving Party shall be granted a 100% undivided working interest. The Surviving Party shall have the right at any time to purchase from the NSR Holder the 1% NSR Royalty by way of a one-time payment to the NSR Holder of $1,000,000 for the full 1% NSR.

A 2% NSR royalty (“Existing NSR) right in the Earn-In Properties is subject to a 100% Buy-Back Right in favor of the Joint Venture or Surviving Party. Each 1% of the NSR royalty can be bought back and extinguished at a fixed price of C$500,000.

Prospector –Cupa Lake Property – 250 hectare – Grant of Earn-In Right

The Company will earn a 100% working interest in the Prospector Earn-In Properties by incurring exploration expenses in relation to the properties, paying both cash and common share consideration, and granting a 1% Net Smelter Return Royalty (the “NSR Royalty”), as follows:

(i) Upon signing this agreement – Optionee to pay the Optionor $4,000 in cash and shall issue to the Optionor 10,000 common shares of Palladium One Mining Inc.

(ii) Year 1 – Canadian Exploration Expenses in the amount of not less than $20,000, and paying the Optionor $6,000 in cash and issuing the Optionor 20,000 common shares of Palladium One Mining Inc. on or before the 1st anniversary of the Effective Date;

(iii) Year 2 – additional Canadian Exploration Expenses in the amount of not less than $40,000 (for an aggregate amount of $60,000) and paying the Optionor $12,000 in cash and issuing the Optionor 30,000 common shares of Palladium One Mining Inc. on or before the second anniversary of the Effective Date; and

(iv) Year 3 – additional Canadian Exploration Expenses in the amount of not less than $120,000 (for an aggregate amount of not less than $180,000) and paying the Optionor $36,000 in cash and issuing the Optionor 30,000 common shares of Palladium One Mining Inc. on or before the third anniversary of the Effective Date

The Company shall maintain the right at any time to purchase from the Prospector one-half (50%) of the 1% NSR royalty interest by way of a one-time payment to the Prospector of $1,000,000.

Claim Purchase

The Company has acquired 3,500 hectares of new clams by re-imbursing staking costs to the original optionors of the Tyko Project. These new claims are considered part of the original option agreement and thus are subject to a 3% NSR for which one half (50%) can be purchased at any time for $1,500,000.

QA/QC
The Phase II drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The drill core samples were transported by company staff the Company’s core handling facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.5 grams with an ICP-MS or ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel-copper (2:1 ratio) project with the most recent drill hole intercepts returning up to 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in hole TK-20-023.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium-dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Release – Chakana Intersects 12m of Massive Sulfide with 27.39 Copper 967.7 gt Silver and 0.38 gt Gold at Soledad Peru


Chakana Intersects 12m of Massive Sulfide with 27.39% Copper, 967.7 g/t Silver, and 0.38 g/t Gold at Soledad, Peru

Soledad Project Highlights Include:

  • Huancarama East – 41m of 1.40 g/t Au, 1.24% Cu, and 79.5 g/t Ag (2.83% Cu-eq) from 112m depth;
  • Paloma West – 48.45m of 1.09 g/t Au, 0.84% Cu, and 39.6 g/t Ag (1.89% Cu-eq) starting at 20.3m depth;
  • Bx1 – 53m of 4.51 g/t Au, 1.22% Cu, and 55.5 g/t Ag (4.64% Cu-eq) starting at 40m depth; and 12m of 0.38 g/t Au, 27.39% Cu, and 967.7 g/t Ag (35.91% Cu-eq) starting at 140m depth;
  • Bx7 – 39m of 1.39 g/t Au, 0.13% Cu, and 50.4 g/t Ag (2.25 g/t Au-eq) starting at 211m depth.

Vancouver, B.C., July 27, 2021 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide results from nine resource definition and exploration holes totaling 1,993.15m from the Soledad project, Ancash, Peru (Table 1). Drilling continues as part of a fully funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1). The Company will complete approximately 16,000m of resource definition drilling. These results will increase confidence in the initial resource estimate, anticipated in Q4 of 2021.

“These results are an outstanding continuation of the drill program we started in 2020. We have seen zones of massive sulfide at Soledad before but never to this extent. Even with 55,000 metres drilled to date on multiple mineralized breccia pipes, we are still encountering these types of features, which demonstrates the exceptional upside potential of this project. This is particularly significant when you consider that we have only tested 15 out of 110 targets thus far,” stated President and CEO David Kelley.

Drill Results

Table 1. Mineralized intervals from drilling at:

Huancarama (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-200

91.00

182.00

91.00

0.34

58.6

0.62

1.34

2.05

SDH21-203

69.00

162.70

93.70

0.43

45.8

0.55

1.22

1.87

SDH21-205

85.00

184.00

99.00

0.71

40.0

0.56

1.37

2.09

including

112.00

153.00

41.00

1.40

79.5

1.24

2.83

4.34

Paloma West (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-201

1.20

4.25

3.05

6.27

46.7

 

 

6.88

and

20.30

68.75

48.45

1.09

39.6

0.84

1.89

2.89

SDH21-202

28.00

69.00

41.00

0.47

49.9

1.06

1.79

2.74

and

85.00

98.55

13.55

0.65

24.5

1.01

1.64

2.52

SDH21-204

91.50

114.00

22.50

0.15

13.7

1.15

1.37

2.09

Bx 1 (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-206

0.00

93.00

93.00

4.76

39.0

0.71

4.16

6.36

including

0.00

40.00

40.00

5.08

17.1

 

 

5.30

including

40.00

93.00

53.00

4.51

55.5

1.22

4.64

7.10

and

173.20

182.00

8.80

0.26

100.7

1.99

3.02

4.62

and

196.00

214.00

18.00

0.11

46.3

0.62

1.09

1.66

and

232.00

262.00

30.00

2.26

57.5

1.48

3.45

5.28

and

285.00

308.00

23.00

0.55

52.7

2.08

2.89

4.42

SDH21-208

0.00

93.00

93.00

3.79

42.0

0.66

3.50

5.35

including

0.00

39.00

39.00

3.40

22.2

0.12

 

3.87

including

39.00

93.00

54.00

4.07

56.3

1.05

4.19

6.41

and

132.40

140.00

7.60

1.86

140.7

1.93

4.35

6.65

and

140.00

152.00

12.00

0.38

967.7

27.39

35.91

 

and

152.00

296.00

144.00

0.34

32.2

0.77

1.27

1.94

Bx 7 (Exploration)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-207

155.00

196.00

41.00

0.43

100.6

0.12

 

1.93

and

211.00

250.00

39.00

1.39

50.4

0.13

 

2.25

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Huancarama East

Three holes were drilled through the Huancarama East breccia pipe to the northeast from a platform on the south side of the complex (Figs. 2 and 3). All three holes intersected mineralized breccia, with depths ranging between approximately 70m to 200m below surface. The breccia pipe has approximate lateral dimensions of 100m by 60m and is open at depth. Additional infill holes have been drilled as part of the ongoing drill program. Examples of mineralized drill core from these holes are shown in Figure 5.

Paloma West

Paloma West is located 300m northwest of Huancarama and is part of the Paloma trend (Fig. 2). Three holes were drilled to further define mineralization from surface to a depth of approximately 100m depth. The breccia pipe demonstrates zoning with stronger gold and silver grades near surface and increasing copper grades with depth. Mineralization is open at depth. Examples of mineralized drill core from these holes are shown in Figure 5.

Bx 1

There are two breccia pipes at Bx 1, the Main Zone that crops out at surface, and the North Zone that is 40 metres north of the Main Zone and 125m below surface (Fig. 3). Additional holes were planned to penetrate the north zone to fill in gaps for the resource estimate (see news release dated June 26, 2018). A significant zone of massive sulfide was intersected in hole SDH21-208 (Figs. 4 and 5). Textures indicate sulfide replacement of tourmaline breccia, a common feature documented in several of the breccia pipes. The massive sulfide zone is part of a continuous mineralized interval of 163.6m length, starting at 132.4m depth within the North Zone. Assay composites for the massive sulfide interval were averaged separately from the overlying and underlying intervals given the extreme grade ranges. Additional in-fill holes have been completed at Bx1 to supplement the existing drilling for the resource estimate.

Bx 7

One exploration hole was completed in Bx 7, a mineralized breccia pipe located 300 metres northeast of Bx 1. The hole encountered two mineralized intervals with elevated gold and silver grades, and low overall copper grades. Mineralization is open at depth. Additional holes are needed to define the geometry of the breccia pipe and grade characteristics.

2021 Resource and Exploration Drill Program

Results reported here are part of the fully funded 2021 drill program of 26,000m. Combined with the drilling in the second half of 2020, approximately 32,000m is anticipated through 2021. Of this, 15,939.35m have been reported in 76 drill holes. The remaining metres will focus on new targets located in the northern half of the project that have not been drilled previously but are strategic to any eventual development at Soledad. Exploration targets have been ranked based on their technical merit, access, and logistics.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 55,000 metres of exploration and resource definition drilling has been completed since 2017, testing 15 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email:jjobin@chakanacopper.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Breccia pipes shown in green are new discoveries made in 2020. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map showing drill holes reported in this release, outcropping tourmaline breccias (darker red shapes), and modeled breccia pipes (light red shapes) based on all drill holes. Light gray contours are 25m interval. Untested outcropping targets are also shown. Blue rectangle in the inset map shows the area of Figure 2 within the overall Chakana property.

Figure 3 – 3D sectional views of the various breccia pipes reported in this release. Light red 3D shapes show breccia pipe geometry based on all drill holes within each pipe. All breccia pipes are presented at the same scale.

Figure 4 – Massive sulfide intersected in the North Zone breccia pipe at Bx 1. Core diameter is 6.35cm (HQ).

Figure 5 – Select core photos from Paloma West, Huancarama East, and Bx 1 reported in this release: Paloma West SDH21-202 (34.7m) mosaic tourmaline breccia with chalcopyrite-pyrite cement; Paloma West SDH21-204 (97.3m) mosaic breccia with chalcopyrite filling void space in breccia; Huancarama East SDH21-205 (112.9m) black tourmaline breccia with chalcopyrite filling void spaces; Bx 1 SDH21-206 (47.15m) shingle breccia with selective partial clast replacement by chalcopyrite and pyrite; Bx 1 SDH21-208 (246.9) mosaic breccia cemented with chalcopyrite and pyrite. Core diameter is 6.35cm (HQ) in all instances.

Release – Arizona Gold and Golden Predator File Joint Circular


Arizona Gold and Golden Predator File Joint Circular

 

TORONTO, July 27, 2021 (GLOBE NEWSWIRE) — Arizona Gold Corp. (“Arizona”) (TSX: AZG, OTCQB: AGAUF) and Golden Predator Mining Corp. (“Golden Predator”) (TSX.V:GPY; OTCQX:NTGSF) announced today that they have filed a joint management information circular (the “Circular”), which will be mailed out to their respective shareholders for the meetings to be held on August 25, 2021, in connection with the previously announced transaction (the “Transaction”) whereby Arizona will acquire all of the issued and outstanding shares of Golden Predator pursuant to a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) previously announced on June 28, 2021.

Arizona and Golden Predator encourage shareholders to read the meeting materials in detail. An electronic copy of the Circular is available on Arizona’s website at www.arizona-gold.com and on Golden Predator’s website at www.goldenpredator.com. The Circular is also available on SEDAR under the issuer profiles of both companies at www.sedar.com. Shareholders are strongly encouraged to vote online following the instructions set out on the form of proxy or voting instruction form which will be mailed along with the Circular.

TRANSACTION HIGHLIGHTS

  • Creates a diversified near-term gold producer in North America through sequential development of the fully permitted Copperstone mine in Arizona followed by the Brewery Creek mine in the Yukon;
  • Combined resource base1 of approximately 1.1 million oz gold in the Measured & Indicated categories, plus an additional approximate 1.5 million oz gold in the Inferred category, paired with considerable exploration upside at each project;
  • Improved capital markets scale to enhance investor visibility and positioning amongst peers, plus a broadened shareholder base;
  • Combined cash and investments of $23M2, including shareholdings in Seabridge Gold Inc., C2C Gold Corp. and Group 11 Technologies Inc.;
  • Experienced leadership team including Giulio Bonifacio as President & CEO and William Sheriff as Non-Executive Chairman, to be supported by a technical team with backgrounds in both mine-building and operations; and
  • On closing of the Transaction, it is anticipated that Arizona will change its name to Sabre Gold Mines Corp.

Shareholders of each of Arizona and Golden Predator holding, in the aggregate, approximately 36.20% of the issued and outstanding Arizona shares and approximately 22.03% of the issued and outstanding Golden Predator shares, respectively, as at July 23, 2021, have entered into voting support agreements pursuant to which they have agreed, among other things, to vote in favour of the Share Issuance Resolution and the Arrangement Resolution, respectively (each as hereinafter defined). These include voting support agreements from entities affiliated with Eric Sprott, in the case of Arizona and Golden Predator, and from PowerOne Capital Limited and Pat DiCapo, in the case of Golden Predator.

ARIZONA MEETING

The meeting of holders of Arizona common shares (the “Arizona Meeting”) will be held at 1:00 p.m. (Toronto time) on Wednesday, August 25, 2021 at the offices of Peterson McVicar LLP, Suite 902, 18 King Street East, Toronto, Ontario, Canada, M5C 1C4.

Holders of Arizona common shares (“Arizona Shareholders”) of record at the close of business on July 26, 2021 will be entitled to vote at the Arizona Meeting. Out of an abundance of caution and in an effort to adopt measures that assist our community in slowing the spread of the novel coronavirus disease 2019, also known as COVID-19, in order to protect the health and safety of our community, Arizona Shareholders, employees and other stakeholders, we are inviting Arizona Shareholders to attend the Arizona Meeting virtually, which will be conducted via live audio webcast online at https://virtual-meetings.tsxtrust.com/1212.

Arizona Shareholders will be asked to consider and pass an ordinary resolution (the “Share Issuance Resolution”) approving the issuance of Arizona common shares to Golden Predator shareholders (the “Share Issuance”) in connection with the Transaction, pursuant to which, among other things, all of the issued and outstanding common shares of Golden Predator will be exchanged for Arizona common shares on the basis of 1.65 Arizona common shares per common share of Golden Predator. Upon completion of the Transaction, existing Arizona and Golden Predator shareholders will own approximately 55% and 45% of the combined company common shares, respectively, on an outstanding basis.

Arizona Shareholders will also be asked to consider and pass a special resolution (the “Name Change Resolution”) to change the name of Arizona to “Sabre Gold Mines Corp.” or such other name to be determined by Arizona, effective on or around the completion of the Transaction.

The meeting materials provided to Arizona Shareholders contain important information regarding voting, the Transaction and a summary of the events leading up to the Transaction, including the reasons that led to Arizona’s Board of Directors (the “Arizona Board”) to unanimously determine that the Transaction is fair, from a financial point of view, to Arizona. The Arizona Board unanimously recommends that Arizona Shareholders vote for the Share Issuance Resolution and Name Change Resolution at the Meeting.

The meeting materials are available on Arizona’s website at www.arizona-gold.com and under Arizona’s SEDAR profile at www.sedar.com.

GOLDEN PREDATOR MEETING

The meeting of holders of Golden Predator common shares (the “Golden Predator Meeting”) will be held at 10:00 a.m. (Vancouver time) on Wednesday, August 25, 2021 at the offices of Morton Law LLP, 1200 – 750 West Pender Street, Vancouver, British Columbia, Canada, V6C 2T8.

Holders of Golden Predator common shares (“Golden Predator Shareholders”) of record at the close of business on July 16, 2021 will be entitled to vote at the Golden Predator Meeting. Out of an abundance of caution and in an effort to adopt measures that assist our community in slowing the spread of the novel coronavirus disease 2019, also known as COVID-19, in order to protect the health and safety of our community, Golden Predator Shareholders, employees and other stakeholders, we are inviting Golden Predator Shareholders to attend the Meeting virtually by contacting Golden Predator by telephone at 604-260-0289 or by email at info@goldenpredator.com to be provided with a virtual conference link.

Golden Predator Shareholders will be asked to consider and, if deemed advisable, pass a special resolution approving the Arrangement (the “Arrangement Resolution”). To be effective, the Arrangement Resolution must be approved at the Golden Predator Meeting by (i) at least 66 ?% of the votes cast on the Arrangement Resolution by the Golden Predator Shareholders, and (ii) at least a majority of the votes cast on the Arrangement Resolution, excluding any “interested party”, as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

The meeting materials provided to Golden Predator Shareholders contain important information regarding voting, the Transaction and a summary of the events leading up to the Transaction, including the reasons that led to Golden Predator’s Board of Directors unanimously determining that the Transaction is fair, from a financial point of view, to Golden Predator Shareholders and in the best interest of Golden Predator. The Golden Predator Board unanimously recommends that Golden Predator Shareholders vote for the Arrangement Resolution at the Meeting.

The meeting materials are available on Golden Predator’s website at www.goldenpredator.com and under Golden Predator’s SEDAR profile at www.sedar.com.

CONDITIONS FOR COMPLETION OF THE TRANSACTION

The Transaction is subject to various closing conditions, including receipt of (i) final court approval of the Arrangement, (ii) the required approval at the Arizona Meeting of the Share Issuance Resolution, (iii) the required approval at the Golden Predator Meeting of the Arrangement Resolution, and (iv) regulatory approvals of the Transaction, including TSX approval of the Share Issuance and TSXV approval of the Transaction.

For additional information on Arizona and the Copperstone mine, please visit the website at www.arizona-gold.com. For additional information on Golden Predator and the Brewery Creek mine, please visit the website at www.goldenpredator.com.

Contact Information
Arizona Gold Corp.
Giulio Bonifacio
CEO & Director
604-318-6760
gtbonifacio@arizona-gold.com
Golden Predator Mining Corp.
William Sheriff
Executive Chair
972-333-2214
wms@goldenpredator.com

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the anticipated completion of the Transaction. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Arizona and/or Golden Predator to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; and (ii) receipt of necessary stock exchange, court and shareholder approvals. Although management of each of Arizona and Golden Predator has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of the Arizona common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and the Arizona common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Arizona common shares, nor shall there be any offer or sale of the Arizona common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX and TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1 For Copperstone, please reference the independent technical report titled “National Instrument 43-101 Technical Report: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA” completed by Hard Rock Consulting, LLC, effective date April 1, 2018. For Brewery Creek, please reference the Independent technical report titled “NI 43-101 Technical Report on Resources – Brewery Creek Project, Yukon, Canada” completed by Gustavson Associates LLC, effective date May 31, 2020.

2 Includes pro forma cash of $9.6M at March 31, 2021 and pro forma equity investments calculated as at June 25, 2021, excluding transaction costs.

Arizona Gold and Golden Predator File Joint Circular


Arizona Gold and Golden Predator File Joint Circular

 

TORONTO, July 27, 2021 (GLOBE NEWSWIRE) — Arizona Gold Corp. (“Arizona”) (TSX: AZG, OTCQB: AGAUF) and Golden Predator Mining Corp. (“Golden Predator”) (TSX.V:GPY; OTCQX:NTGSF) announced today that they have filed a joint management information circular (the “Circular”), which will be mailed out to their respective shareholders for the meetings to be held on August 25, 2021, in connection with the previously announced transaction (the “Transaction”) whereby Arizona will acquire all of the issued and outstanding shares of Golden Predator pursuant to a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) previously announced on June 28, 2021.

Arizona and Golden Predator encourage shareholders to read the meeting materials in detail. An electronic copy of the Circular is available on Arizona’s website at www.arizona-gold.com and on Golden Predator’s website at www.goldenpredator.com. The Circular is also available on SEDAR under the issuer profiles of both companies at www.sedar.com. Shareholders are strongly encouraged to vote online following the instructions set out on the form of proxy or voting instruction form which will be mailed along with the Circular.

TRANSACTION HIGHLIGHTS

  • Creates a diversified near-term gold producer in North America through sequential development of the fully permitted Copperstone mine in Arizona followed by the Brewery Creek mine in the Yukon;
  • Combined resource base1 of approximately 1.1 million oz gold in the Measured & Indicated categories, plus an additional approximate 1.5 million oz gold in the Inferred category, paired with considerable exploration upside at each project;
  • Improved capital markets scale to enhance investor visibility and positioning amongst peers, plus a broadened shareholder base;
  • Combined cash and investments of $23M2, including shareholdings in Seabridge Gold Inc., C2C Gold Corp. and Group 11 Technologies Inc.;
  • Experienced leadership team including Giulio Bonifacio as President & CEO and William Sheriff as Non-Executive Chairman, to be supported by a technical team with backgrounds in both mine-building and operations; and
  • On closing of the Transaction, it is anticipated that Arizona will change its name to Sabre Gold Mines Corp.

Shareholders of each of Arizona and Golden Predator holding, in the aggregate, approximately 36.20% of the issued and outstanding Arizona shares and approximately 22.03% of the issued and outstanding Golden Predator shares, respectively, as at July 23, 2021, have entered into voting support agreements pursuant to which they have agreed, among other things, to vote in favour of the Share Issuance Resolution and the Arrangement Resolution, respectively (each as hereinafter defined). These include voting support agreements from entities affiliated with Eric Sprott, in the case of Arizona and Golden Predator, and from PowerOne Capital Limited and Pat DiCapo, in the case of Golden Predator.

ARIZONA MEETING

The meeting of holders of Arizona common shares (the “Arizona Meeting”) will be held at 1:00 p.m. (Toronto time) on Wednesday, August 25, 2021 at the offices of Peterson McVicar LLP, Suite 902, 18 King Street East, Toronto, Ontario, Canada, M5C 1C4.

Holders of Arizona common shares (“Arizona Shareholders”) of record at the close of business on July 26, 2021 will be entitled to vote at the Arizona Meeting. Out of an abundance of caution and in an effort to adopt measures that assist our community in slowing the spread of the novel coronavirus disease 2019, also known as COVID-19, in order to protect the health and safety of our community, Arizona Shareholders, employees and other stakeholders, we are inviting Arizona Shareholders to attend the Arizona Meeting virtually, which will be conducted via live audio webcast online at https://virtual-meetings.tsxtrust.com/1212.

Arizona Shareholders will be asked to consider and pass an ordinary resolution (the “Share Issuance Resolution”) approving the issuance of Arizona common shares to Golden Predator shareholders (the “Share Issuance”) in connection with the Transaction, pursuant to which, among other things, all of the issued and outstanding common shares of Golden Predator will be exchanged for Arizona common shares on the basis of 1.65 Arizona common shares per common share of Golden Predator. Upon completion of the Transaction, existing Arizona and Golden Predator shareholders will own approximately 55% and 45% of the combined company common shares, respectively, on an outstanding basis.

Arizona Shareholders will also be asked to consider and pass a special resolution (the “Name Change Resolution”) to change the name of Arizona to “Sabre Gold Mines Corp.” or such other name to be determined by Arizona, effective on or around the completion of the Transaction.

The meeting materials provided to Arizona Shareholders contain important information regarding voting, the Transaction and a summary of the events leading up to the Transaction, including the reasons that led to Arizona’s Board of Directors (the “Arizona Board”) to unanimously determine that the Transaction is fair, from a financial point of view, to Arizona. The Arizona Board unanimously recommends that Arizona Shareholders vote for the Share Issuance Resolution and Name Change Resolution at the Meeting.

The meeting materials are available on Arizona’s website at www.arizona-gold.com and under Arizona’s SEDAR profile at www.sedar.com.

GOLDEN PREDATOR MEETING

The meeting of holders of Golden Predator common shares (the “Golden Predator Meeting”) will be held at 10:00 a.m. (Vancouver time) on Wednesday, August 25, 2021 at the offices of Morton Law LLP, 1200 – 750 West Pender Street, Vancouver, British Columbia, Canada, V6C 2T8.

Holders of Golden Predator common shares (“Golden Predator Shareholders”) of record at the close of business on July 16, 2021 will be entitled to vote at the Golden Predator Meeting. Out of an abundance of caution and in an effort to adopt measures that assist our community in slowing the spread of the novel coronavirus disease 2019, also known as COVID-19, in order to protect the health and safety of our community, Golden Predator Shareholders, employees and other stakeholders, we are inviting Golden Predator Shareholders to attend the Meeting virtually by contacting Golden Predator by telephone at 604-260-0289 or by email at info@goldenpredator.com to be provided with a virtual conference link.

Golden Predator Shareholders will be asked to consider and, if deemed advisable, pass a special resolution approving the Arrangement (the “Arrangement Resolution”). To be effective, the Arrangement Resolution must be approved at the Golden Predator Meeting by (i) at least 66 ?% of the votes cast on the Arrangement Resolution by the Golden Predator Shareholders, and (ii) at least a majority of the votes cast on the Arrangement Resolution, excluding any “interested party”, as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

The meeting materials provided to Golden Predator Shareholders contain important information regarding voting, the Transaction and a summary of the events leading up to the Transaction, including the reasons that led to Golden Predator’s Board of Directors unanimously determining that the Transaction is fair, from a financial point of view, to Golden Predator Shareholders and in the best interest of Golden Predator. The Golden Predator Board unanimously recommends that Golden Predator Shareholders vote for the Arrangement Resolution at the Meeting.

The meeting materials are available on Golden Predator’s website at www.goldenpredator.com and under Golden Predator’s SEDAR profile at www.sedar.com.

CONDITIONS FOR COMPLETION OF THE TRANSACTION

The Transaction is subject to various closing conditions, including receipt of (i) final court approval of the Arrangement, (ii) the required approval at the Arizona Meeting of the Share Issuance Resolution, (iii) the required approval at the Golden Predator Meeting of the Arrangement Resolution, and (iv) regulatory approvals of the Transaction, including TSX approval of the Share Issuance and TSXV approval of the Transaction.

For additional information on Arizona and the Copperstone mine, please visit the website at www.arizona-gold.com. For additional information on Golden Predator and the Brewery Creek mine, please visit the website at www.goldenpredator.com.

Contact Information
Arizona Gold Corp.
Giulio Bonifacio
CEO & Director
604-318-6760
gtbonifacio@arizona-gold.com
Golden Predator Mining Corp.
William Sheriff
Executive Chair
972-333-2214
wms@goldenpredator.com

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the anticipated completion of the Transaction. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Arizona and/or Golden Predator to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; and (ii) receipt of necessary stock exchange, court and shareholder approvals. Although management of each of Arizona and Golden Predator has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of the Arizona common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and the Arizona common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Arizona common shares, nor shall there be any offer or sale of the Arizona common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX and TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1 For Copperstone, please reference the independent technical report titled “National Instrument 43-101 Technical Report: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA” completed by Hard Rock Consulting, LLC, effective date April 1, 2018. For Brewery Creek, please reference the Independent technical report titled “NI 43-101 Technical Report on Resources – Brewery Creek Project, Yukon, Canada” completed by Gustavson Associates LLC, effective date May 31, 2020.

2 Includes pro forma cash of $9.6M at March 31, 2021 and pro forma equity investments calculated as at June 25, 2021, excluding transaction costs.

Release chakana intersects 12m of massive sulfide with 27-39 copper 967-7 gt silver and 0-38 gt gold at soledad peru


Chakana Intersects 12m of Massive Sulfide with 27.39% Copper, 967.7 g/t Silver, and 0.38 g/t Gold at Soledad, Peru

Soledad Project Highlights Include:

  • Huancarama East – 41m of 1.40 g/t Au, 1.24% Cu, and 79.5 g/t Ag (2.83% Cu-eq) from 112m depth;
  • Paloma West – 48.45m of 1.09 g/t Au, 0.84% Cu, and 39.6 g/t Ag (1.89% Cu-eq) starting at 20.3m depth;
  • Bx1 – 53m of 4.51 g/t Au, 1.22% Cu, and 55.5 g/t Ag (4.64% Cu-eq) starting at 40m depth; and 12m of 0.38 g/t Au, 27.39% Cu, and 967.7 g/t Ag (35.91% Cu-eq) starting at 140m depth;
  • Bx7 – 39m of 1.39 g/t Au, 0.13% Cu, and 50.4 g/t Ag (2.25 g/t Au-eq) starting at 211m depth.

Vancouver, B.C., July 27, 2021 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide results from nine resource definition and exploration holes totaling 1,993.15m from the Soledad project, Ancash, Peru (Table 1). Drilling continues as part of a fully funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1). The Company will complete approximately 16,000m of resource definition drilling. These results will increase confidence in the initial resource estimate, anticipated in Q4 of 2021.

“These results are an outstanding continuation of the drill program we started in 2020. We have seen zones of massive sulfide at Soledad before but never to this extent. Even with 55,000 metres drilled to date on multiple mineralized breccia pipes, we are still encountering these types of features, which demonstrates the exceptional upside potential of this project. This is particularly significant when you consider that we have only tested 15 out of 110 targets thus far,” stated President and CEO David Kelley.

Drill Results

Table 1. Mineralized intervals from drilling at:

Huancarama (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-200

91.00

182.00

91.00

0.34

58.6

0.62

1.34

2.05

SDH21-203

69.00

162.70

93.70

0.43

45.8

0.55

1.22

1.87

SDH21-205

85.00

184.00

99.00

0.71

40.0

0.56

1.37

2.09

including

112.00

153.00

41.00

1.40

79.5

1.24

2.83

4.34

Paloma West (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-201

1.20

4.25

3.05

6.27

46.7

 

 

6.88

and

20.30

68.75

48.45

1.09

39.6

0.84

1.89

2.89

SDH21-202

28.00

69.00

41.00

0.47

49.9

1.06

1.79

2.74

and

85.00

98.55

13.55

0.65

24.5

1.01

1.64

2.52

SDH21-204

91.50

114.00

22.50

0.15

13.7

1.15

1.37

2.09

Bx 1 (Resource Definition)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-206

0.00

93.00

93.00

4.76

39.0

0.71

4.16

6.36

including

0.00

40.00

40.00

5.08

17.1

 

 

5.30

including

40.00

93.00

53.00

4.51

55.5

1.22

4.64

7.10

and

173.20

182.00

8.80

0.26

100.7

1.99

3.02

4.62

and

196.00

214.00

18.00

0.11

46.3

0.62

1.09

1.66

and

232.00

262.00

30.00

2.26

57.5

1.48

3.45

5.28

and

285.00

308.00

23.00

0.55

52.7

2.08

2.89

4.42

SDH21-208

0.00

93.00

93.00

3.79

42.0

0.66

3.50

5.35

including

0.00

39.00

39.00

3.40

22.2

0.12

 

3.87

including

39.00

93.00

54.00

4.07

56.3

1.05

4.19

6.41

and

132.40

140.00

7.60

1.86

140.7

1.93

4.35

6.65

and

140.00

152.00

12.00

0.38

967.7

27.39

35.91

 

and

152.00

296.00

144.00

0.34

32.2

0.77

1.27

1.94

Bx 7 (Exploration)

DDH #

 

From – To (m)

Core Length
(m)

Au
g/t

Ag
g/t

Cu
%

Cu-eq
%*

Au-eq
g/t*

SDH21-207

155.00

196.00

41.00

0.43

100.6

0.12

 

1.93

and

211.00

250.00

39.00

1.39

50.4

0.13

 

2.25

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Huancarama East

Three holes were drilled through the Huancarama East breccia pipe to the northeast from a platform on the south side of the complex (Figs. 2 and 3). All three holes intersected mineralized breccia, with depths ranging between approximately 70m to 200m below surface. The breccia pipe has approximate lateral dimensions of 100m by 60m and is open at depth. Additional infill holes have been drilled as part of the ongoing drill program. Examples of mineralized drill core from these holes are shown in Figure 5.

Paloma West

Paloma West is located 300m northwest of Huancarama and is part of the Paloma trend (Fig. 2). Three holes were drilled to further define mineralization from surface to a depth of approximately 100m depth. The breccia pipe demonstrates zoning with stronger gold and silver grades near surface and increasing copper grades with depth. Mineralization is open at depth. Examples of mineralized drill core from these holes are shown in Figure 5.

Bx 1

There are two breccia pipes at Bx 1, the Main Zone that crops out at surface, and the North Zone that is 40 metres north of the Main Zone and 125m below surface (Fig. 3). Additional holes were planned to penetrate the north zone to fill in gaps for the resource estimate (see news release dated June 26, 2018). A significant zone of massive sulfide was intersected in hole SDH21-208 (Figs. 4 and 5). Textures indicate sulfide replacement of tourmaline breccia, a common feature documented in several of the breccia pipes. The massive sulfide zone is part of a continuous mineralized interval of 163.6m length, starting at 132.4m depth within the North Zone. Assay composites for the massive sulfide interval were averaged separately from the overlying and underlying intervals given the extreme grade ranges. Additional in-fill holes have been completed at Bx1 to supplement the existing drilling for the resource estimate.

Bx 7

One exploration hole was completed in Bx 7, a mineralized breccia pipe located 300 metres northeast of Bx 1. The hole encountered two mineralized intervals with elevated gold and silver grades, and low overall copper grades. Mineralization is open at depth. Additional holes are needed to define the geometry of the breccia pipe and grade characteristics.

2021 Resource and Exploration Drill Program

Results reported here are part of the fully funded 2021 drill program of 26,000m. Combined with the drilling in the second half of 2020, approximately 32,000m is anticipated through 2021. Of this, 15,939.35m have been reported in 76 drill holes. The remaining metres will focus on new targets located in the northern half of the project that have not been drilled previously but are strategic to any eventual development at Soledad. Exploration targets have been ranked based on their technical merit, access, and logistics.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 55,000 metres of exploration and resource definition drilling has been completed since 2017, testing 15 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email:jjobin@chakanacopper.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Breccia pipes shown in green are new discoveries made in 2020. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map showing drill holes reported in this release, outcropping tourmaline breccias (darker red shapes), and modeled breccia pipes (light red shapes) based on all drill holes. Light gray contours are 25m interval. Untested outcropping targets are also shown. Blue rectangle in the inset map shows the area of Figure 2 within the overall Chakana property.

Figure 3 – 3D sectional views of the various breccia pipes reported in this release. Light red 3D shapes show breccia pipe geometry based on all drill holes within each pipe. All breccia pipes are presented at the same scale.

Figure 4 – Massive sulfide intersected in the North Zone breccia pipe at Bx 1. Core diameter is 6.35cm (HQ).

Figure 5 – Select core photos from Paloma West, Huancarama East, and Bx 1 reported in this release: Paloma West SDH21-202 (34.7m) mosaic tourmaline breccia with chalcopyrite-pyrite cement; Paloma West SDH21-204 (97.3m) mosaic breccia with chalcopyrite filling void space in breccia; Huancarama East SDH21-205 (112.9m) black tourmaline breccia with chalcopyrite filling void spaces; Bx 1 SDH21-206 (47.15m) shingle breccia with selective partial clast replacement by chalcopyrite and pyrite; Bx 1 SDH21-208 (246.9) mosaic breccia cemented with chalcopyrite and pyrite. Core diameter is 6.35cm (HQ) in all instances.

Palladium One Expands the Tyko Sulphide Nickel-Copper Project to 24,500 hectares and Completes VTEM Survey


Palladium One Expands the Tyko Sulphide Nickel-Copper Project to 24,500 hectares and Completes VTEM Survey

 

KEY HIGHLIGHTS

  • Two Earn-in agreements expand the Tyko Nickel-Copper Project by 950 hectares
  • Additionally, 3,500 hectares were purchased from the original Optionors of the Tyko Project.
  • Tyko Nickel-Copper Project currently over 24,500 hectares
  • 3,100-kilometer airborne Electro Magnetic (VTEMmax) geophysical survey completed
  • Summer exploration field crews are onsite conducting reconnaissance mapping, prospecting and soil sampling. The first 1,000 soil samples have been sent for assaying, results pending

July 27, 2021 – Toronto, Ontario – The footprint of the Tyko Nickel-Copper Project, which returned drill intercepts from massive magmatic sulphide of up to 9.9% Nickel equivalent (“Ni_Eq”), (23.0% Copper equivalent, 30.1 g/t Gold equivalent*over 3.8 meters in hole TK21-023 (Table 1) has been expanded by 4,400 hectares, said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Tyko has grown from 20,100 hectares to over 24,500 hectares since the Phase II drill program was completed.

An option agreement with First Class Metals Ltd, for the Pickle Lake property, consists of 700 hectares located on the west side of the Tyko project and is proximal to the historic RJ zone which returned up to 1.2% Ni_Eq (2.78% Cu_Eq and 3.6g/t Au_Eq*) over 16.2 meters in hole TK16-002 (see news release April 12, 2016). A second option agreement for the Cupa Lake property with a local prospector consists of 250 hectares and is located 8km east of the Smoke Lake Zone.

President and CEO, Derrick Weyrauch commented, “Tyko continues to impress and warrants increased levels of expenditure and exploration. Results to date demonstrate robust mineralization spread over at least 18 kilometers, yet the area has seen virtually no government mapping or exploration. We believe that in addition to the high-grade Smoke Lake zone, there are new zones off nickel-copper mineralization yet to be discovered. We are awaiting result from the 3,100-kilometer airborne Electro Magnetic (VTEMmax) survey which will guide further exploration.”

200-square kilometer, VTEMmax survey

Geotech’s Versatile Time Domain Electromagnetic airborne system (VTEMmax) survey has been completed across the entire Tyko project. The survey comprised greater than 3,100-line kilometers of closely spaced (100-meter) flight lines. It is the most comprehensive and sensitive airborne geophysical survey ever flown on the Tyko property and covered large areas for which no airborne Electro Magnetic surveys had ever been flown, including the area surrounding the Shabotik showing, having up to 1.0% Nickel, see press release August 19, 2019.

Summer Field Program

Mapping, prospecting and soil sampling is well underway with 1,000 soil samples having already been submitted to the assay lab. This program is designed to ground truth historic and new geophysical anomalies. The vast majority of the Tyko project has seen little to no exploration, or even government mapping.

Figure 1. Tyko Project, with various historic total field magnetic surveys as the background. Newly acquired ground is shown in black hatched areas.

Table 1: Select 2020 & 2021 Drill Results from the Smoke Lake

Hole

From
(m)

To
(m)

Width
(m)

Ni_E
%

Cu_
%

Au_
g/t*

Ni
%

Cu
%

Co
%

PGE g/t
(Pd+Pt
Au)

Pd
g/t

Pt
g/t

Au
g/t

TK20-016

29.0

32.8

3.8

8.74

20.38

27.16

6.65

3.70

0.09

1.51

0.67

0.81

0.03

Inc.

29.8

32.5

2.7

9.80

22.86

30.45

7.47

4.16

0.10

1.64

0.74

0.87

0.03

TK20-022

46.8

51.0

4.2

7.46

17.40

23.05

5.83

2.74

0.09

1.28

0.56

0.70

0.01

Inc.

48.5

50.6

2.1

8.78

20.48

26.68

7.26

2.34

0.12

1.30

0.48

0.81

0.01

TK20-023

5.3

12.8

7.5

6.07

14.15

18.94

4.49

2.86

0.06

1.01

0.44

0.55

0.02

Inc.

8.9

12.8

3.8

9.87

23.02

30.10

8.13

2.88

0.11

1.33

0.61

0.71

0.02

Inc.

8.9

10.5

1.6

11.05

25.79

33.08

9.80

1.67

0.13

1.27

0.54

0.72

0.01

TK21-034

66.3

73.0

6.7

4.57

10.67

14.30

3.42

2.05

0.05

0.81

0.39

0.40

0.01

Inc.

66.3

71.3

5.0

5.95

13.88

18.57

4.47

2.62

0.06

1.06

0.51

0.53

0.02

Inc.

66.3

68.0

1.7

9.54

22.26

29.46

7.50

3.51

0.09

1.64

0.73

0.88

0.02

TK21-035

4.9

9.3

4.5

7.45

17.38

22.98

5.89

2.70

0.08

1.06

0.54

0.50

0.02

Inc.

6.0

7.7

1.7

10.17

23.73

30.51

9.09

1.23

0.13

1.34

0.73

0.59

0.02

TK21-041

130.4

132.8

2.4

5.96

13.91

18.45

4.74

1.97

0.07

1.15

0.60

0.52

0.02

Inc.

131.2

132.8

1.7

8.28

19.31

25.53

6.65

2.60

0.09

1.52

0.78

0.71

0.03

(1) Reported widths are “drilled widths” not true widths.
(2) * Au_Equivalent is calculated for comparison purposes using recent spot prices, $8lb nickel, $4.4/lb copper, $19/lb cobalt, $2,700/oz palladium, $1,150/oz platinum, $1,900/oz gold.
(3) **Italicised orange highlighted results are previously released results see news release June 23, 2021

*Nickel Equivalent (“Ni_Eq”) and Copper Equivalent (“Cu_Eq”)
Nickel and copper equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne (US$3.00 per pound) for copper, US$15,432 per tonne (US$7.00 per pound) for nickel and US$30,865 per tonne (US$14 per pound) for Cobalt. This calculation is consistent with the commodity prices used in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

Transaction Details

First Class Metals Ltd. – Pickle Lake (formerly, Pezim II) Property – 700 hectares – Grant of Earn-In Right

The Company can earn up to an 80% undivided working interest and a royalty Buy-Back Right, in the Earn-In Properties, over a 3-year earn-in period by incurring Canadian Exploration Expenses as follows:

Year 1 – an amount of not less than C$25,000 on or before the 1st anniversary of the Effective Date:

Year 2 – an amount of not less than C$135,000 (for an aggregate amount of $160,000) on or before the second anniversary of the Effective Date to earn a 51% interest; and

Year 3 – an amount of not less than C$165,000 (for an aggregate amount of not less than $325,000) and by preparing a National Instrument 43-101 (“NI43-101”) Technical Report with respect to the Earn-In Properties on or before the third anniversary of the Effective Date to earn an additional 29% (for a total aggregate 80% interest).

Upon the Company earning either a 51% or 80% working interest in the Earn-In Properties, a Joint Venture Agreement shall be formed and the Company shall be the operator. Should either party not fully participate in future expenditures, its ownership interest shall be diluted and if one party is diluted to a 10% working interest, that party (“NSR Holder”) shall be granted a 1% NSR Royalty in respect of the Earn-In Properties, while the Surviving Party shall be granted a 100% undivided working interest. The Surviving Party shall have the right at any time to purchase from the NSR Holder the 1% NSR Royalty by way of a one-time payment to the NSR Holder of $1,000,000 for the full 1% NSR.

A 2% NSR royalty (“Existing NSR) right in the Earn-In Properties is subject to a 100% Buy-Back Right in favor of the Joint Venture or Surviving Party. Each 1% of the NSR royalty can be bought back and extinguished at a fixed price of C$500,000.

Prospector –Cupa Lake Property – 250 hectare – Grant of Earn-In Right

The Company will earn a 100% working interest in the Prospector Earn-In Properties by incurring exploration expenses in relation to the properties, paying both cash and common share consideration, and granting a 1% Net Smelter Return Royalty (the “NSR Royalty”), as follows:

(i) Upon signing this agreement – Optionee to pay the Optionor $4,000 in cash and shall issue to the Optionor 10,000 common shares of Palladium One Mining Inc.

(ii) Year 1 – Canadian Exploration Expenses in the amount of not less than $20,000, and paying the Optionor $6,000 in cash and issuing the Optionor 20,000 common shares of Palladium One Mining Inc. on or before the 1st anniversary of the Effective Date;

(iii) Year 2 – additional Canadian Exploration Expenses in the amount of not less than $40,000 (for an aggregate amount of $60,000) and paying the Optionor $12,000 in cash and issuing the Optionor 30,000 common shares of Palladium One Mining Inc. on or before the second anniversary of the Effective Date; and

(iv) Year 3 – additional Canadian Exploration Expenses in the amount of not less than $120,000 (for an aggregate amount of not less than $180,000) and paying the Optionor $36,000 in cash and issuing the Optionor 30,000 common shares of Palladium One Mining Inc. on or before the third anniversary of the Effective Date

The Company shall maintain the right at any time to purchase from the Prospector one-half (50%) of the 1% NSR royalty interest by way of a one-time payment to the Prospector of $1,000,000.

Claim Purchase

The Company has acquired 3,500 hectares of new clams by re-imbursing staking costs to the original optionors of the Tyko Project. These new claims are considered part of the original option agreement and thus are subject to a 3% NSR for which one half (50%) can be purchased at any time for $1,500,000.

QA/QC
The Phase II drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The drill core samples were transported by company staff the Company’s core handling facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.5 grams with an ICP-MS or ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel-copper (2:1 ratio) project with the most recent drill hole intercepts returning up to 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in hole TK-20-023.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium-dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Release – CanAlaska Mobilizes for West Athabasca Diamond Project


CanAlaska Appoints New Vice President Exploration

 

Kimberlite Indicator Mineral Sampling to Target Basal Tills

Sampling Down-Ice of More Than 300 Circular Magnetic Anomalies

Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (“CanAlaska” or the “Company”) is pleased to announce it has mobilized a crew to begin kimberlite indicator mineral (KIM) sampling down-ice of its West Athabasca Diamond Project areas. The Company holds 51,654 hectares (129,135 acres) of claims encompassing over 300 circular magnetic anomalies in the Athabasca Basin of Saskatchewan. The project is located north and northeast of the past-producing Cluff Lake Uranium Mine (Figure 1).

Figure 1

The objective of this sampling program is to complement the 2018 DeBeers’ till sampling program, which was tightly restricted to eskers inside the claim boundaries. These eskers are relatively short, sinuous and sharp-crested features that sit on top of glacial outwash deposits. As a result, the sampled eskers unlikely eroded the local bedrock or basal tills, and therefore may not have sampled the potential kimberlite material possibly associated with these circular anomalies. This new KIM till sampling program will focus in close proximity to Athabasca Group outcrop locations in order to find and acquire basal till samples that contain material possibly associated with these magnetic anomalies.

In 2011, a high-quality regional magnetic and radiometric airborne survey was completed over the Athabasca Basin which resulted in identification of small, round magnetic anomalies that resemble the size and character of anomalies generally associated with kimberlite pipes elsewhere. Based on this observation, the West Athabasca claims were staked in 2015 and later optioned to DeBeers in 2016. DeBeers conducted a high-resolution low-amplitude aeromagnetic survey that defined 695 discrete singular and cluster anomalies like those shown in Figure 2 for the William River Block. Seven of the anomalies were identified as accessible for summer drilling and nine holes were completed in the fall of 2016. DeBeers drill tested the margins of seven magnetic anomalies out of the more than 300 that had been defined as priority. No kimberlite was intersected but three of the holes identified a thin magnetic mud of possible biogenic origin at the base of the till near the bedrock top. Only summer accessible targets were drill tested since a vast majority of the magnetic anomalies exist under lakes or muskeg.


Figure 2

In support of kimberlite emplacement potential, the singular and cluster anomalies follow a general southwest-northeast orientation in proximity to a known deep-crustal domain-boundary structure known as the Grease River Shear Zone (“GRSZ”) (Figure 1). The association of the cluster orientations in relation to this structure provides an interesting emplacement and target scenario. On a more regional scale, this area of the Athabasca Basin is underlain by the Rae Province, a thick Archean crust.

CanAlaska CEO, Cory Belyk, comments, “The team has done an excellent job of re-evaluating the potential of our West Athabasca Diamond Project. The more than 300 discrete circular magnetic anomalies of the size and character of kimberlite pipes suggest these anomalies need to be considered further. Locating KIMs in basal tills that may better represent bedrock sources located up-ice would be an encouraging outcome from this program and significantly upgrade diamond discovery potential in this region.”

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr. Karl Schimann, P.Geo., CanAlaska director and Senior Exploration Consultant.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Neither 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 information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

CanAlaska Mobilizes for West Athabasca Diamond Project


CanAlaska Appoints New Vice President Exploration

 

Kimberlite Indicator Mineral Sampling to Target Basal Tills

Sampling Down-Ice of More Than 300 Circular Magnetic Anomalies

Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (“CanAlaska” or the “Company”) is pleased to announce it has mobilized a crew to begin kimberlite indicator mineral (KIM) sampling down-ice of its West Athabasca Diamond Project areas. The Company holds 51,654 hectares (129,135 acres) of claims encompassing over 300 circular magnetic anomalies in the Athabasca Basin of Saskatchewan. The project is located north and northeast of the past-producing Cluff Lake Uranium Mine (Figure 1).

Figure 1

The objective of this sampling program is to complement the 2018 DeBeers’ till sampling program, which was tightly restricted to eskers inside the claim boundaries. These eskers are relatively short, sinuous and sharp-crested features that sit on top of glacial outwash deposits. As a result, the sampled eskers unlikely eroded the local bedrock or basal tills, and therefore may not have sampled the potential kimberlite material possibly associated with these circular anomalies. This new KIM till sampling program will focus in close proximity to Athabasca Group outcrop locations in order to find and acquire basal till samples that contain material possibly associated with these magnetic anomalies.

In 2011, a high-quality regional magnetic and radiometric airborne survey was completed over the Athabasca Basin which resulted in identification of small, round magnetic anomalies that resemble the size and character of anomalies generally associated with kimberlite pipes elsewhere. Based on this observation, the West Athabasca claims were staked in 2015 and later optioned to DeBeers in 2016. DeBeers conducted a high-resolution low-amplitude aeromagnetic survey that defined 695 discrete singular and cluster anomalies like those shown in Figure 2 for the William River Block. Seven of the anomalies were identified as accessible for summer drilling and nine holes were completed in the fall of 2016. DeBeers drill tested the margins of seven magnetic anomalies out of the more than 300 that had been defined as priority. No kimberlite was intersected but three of the holes identified a thin magnetic mud of possible biogenic origin at the base of the till near the bedrock top. Only summer accessible targets were drill tested since a vast majority of the magnetic anomalies exist under lakes or muskeg.


Figure 2

In support of kimberlite emplacement potential, the singular and cluster anomalies follow a general southwest-northeast orientation in proximity to a known deep-crustal domain-boundary structure known as the Grease River Shear Zone (“GRSZ”) (Figure 1). The association of the cluster orientations in relation to this structure provides an interesting emplacement and target scenario. On a more regional scale, this area of the Athabasca Basin is underlain by the Rae Province, a thick Archean crust.

CanAlaska CEO, Cory Belyk, comments, “The team has done an excellent job of re-evaluating the potential of our West Athabasca Diamond Project. The more than 300 discrete circular magnetic anomalies of the size and character of kimberlite pipes suggest these anomalies need to be considered further. Locating KIMs in basal tills that may better represent bedrock sources located up-ice would be an encouraging outcome from this program and significantly upgrade diamond discovery potential in this region.”

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr. Karl Schimann, P.Geo., CanAlaska director and Senior Exploration Consultant.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Neither 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 information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.