Indonesia Energy Corporation Successfully Completes the Drilling of First New Well at Kruh Block to Final Total Depth

 

IEC Will Now Conduct Logging and Production Testing

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / June 4, 2021 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it has successfully completed the drilling of its first new well at its Kruh Block (known as “Kruh 25”) to its final total depth.

The Kruh 25 well was drilled to a depth of 3,368 feet. The going forward program will be to now conduct wireline logging operations on the well (which has already commenced) which should last approximately one week, and then perforation will take place on the well to test production rates. IEC expects these final operations on the well to be completed in about 20 days. Accordingly, IEC will now plan to hold its previously announced Investor Conference call on the well results during the week of June 28, 2021.

Mr. Frank Ingriselli, IEC’s President, commented, “We are excited that our first of our three anticipated back-to-back wells at the Kruh Block has reached total depth and logging and production testing will now commence. IEC’s three back-to-back well drilling campaign is targeted to significantly grow our cash flow as we seek to maximize returns on our investments and grow shareholder value.”

IEC also notes the recently issued equity research coverage on the company by Noble Capital Markets and Stonegate Capital Partners. Links to these research reports can be found under the investor tab on IEC’s website: www.indo-energy.com

Readers are cautioned that all reports on IEC prepared by analysts represent the views of such analysts only and are not necessarily those of IEC. IEC is not responsible for the content or accuracy of any information provided by analysts.

About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including the results of IEC’s drilling activities at Kruh Block as described herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Bunker Hill Mining Announces Filing Of PEA Technical Report

 

TORONTO, June 04, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR) is pleased to announce filing of an independent Preliminary Economic Assessment (“PEA”) for the Bunker Hill Mine in the world-class Silver Valley region of Idaho, USA.

The report, dated June 4, 2021 and entitled, “NI 43-101 Technical Report and Preliminary Economic Assessment of the Bunker Hill Mine”, was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Bunker Hill’s news release dated April 20, 2021 (entitled “ Bunker Hill Announces Robust Restart PEA: $101M NPV, 46% IRR, 2.5 Year Payback, $42M Initial Capex, $20M Average Annual FCF Over 10 Years ”) summarizes key results, assumptions and estimates contained in the PEA. The Company is pleased to report there are no material differences between the key results, assumptions and estimates contained in the PEA and this news release.

The PEA is available on our website at www.bunkerhillmining.com and has been filed on SEDAR under the Company’s issuer profile at www.sedar.com .

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of RDA and a consultant to the Company, is an independent “qualified person” as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed and approved the technical information summarized in this news release.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership, the Bunker Hill Mining Corp. intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional information contact: ir@bunkerhillmining.com

Cautionary Statements

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information” in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards.

Friday, June 04, 2021

Great Bear Resources Ltd. (GTBAF)(GBR:CA)
Getting a More Complete Picture; Great Bear to Host Investor Webinar on June 7

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.

LP Fault drilling program results. The company released two new detailed high-grade domain long sections adjacent to the north of the previously released BR7 domain, along with drill results from 18 new LP Fault drill holes. Including recent results, Great Bear has released 318 LP Fault drill holes to date and expects to complete 400 by year-end. The company is modeling 17 distinct high-grade gold domains within the broader LP Fault gold mineralized system. Together, they encompass a strike length of 4.2 kilometers and occur within eight larger lower grade domains.


Highlights from recent drill results.  Recent drill results continue to affirm high-grade and bulk-tonnage gold mineralization at the LP Fault. All 18 drill holes intersected gold mineralization. Hole BR-311 returned 61.2 grams of gold per tonne over 1.1 meters within a broader interval assaying 3.9 grams of gold per tonne over 32.4 meters, while Hole BR-321 returned 29.5 grams of gold per tonne …

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. 

Great Bear Provides Two New Detailed High-Grade Long Sections and Reaches 318 Drill Holes Reported on Two Year Anniversary of LP Fault Discovery

 

June 3, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

This release includes two new detailed high-grade domain long sections that occur adjacent to the north of previously released domain BR7, plus drill results from 18 new LP Fault drill holes mainly targeting the peripheral bulk-tonnage domains.  318 drill holes have now been reported from the LP Fault since its discovery two years ago.

Figure 1: Upper portions of high-grade domain BR1, showing all results to date, and intersecting high-grade domain AURO20 which links BR1 to previously reported domain BR7.  The lower inset illustrates how the domains intersect in three dimensions in inclined plan view.

Table 1: All 34 drill holes that intersect the near-surface portion of high-grade domains AURO20 and BR1 along approximately 650 metres of combined strike length.  Note that assay intervals are from previously reported drill holes and have been clipped to the domains.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

Figure 2: The 17 high-grade gold domains currently being modeled within the LP Fault (bulk-tonnage mineralization not shown).

Chris Taylor, President and CEO of Great Bear said, “We are very pleased to mark the two year anniversary of the LP Fault discovery by entering the final months of near-surface maiden resource estimation drilling, with results published from 318 of approximately 400 anticipated drill holes. We also provide two additional high-grade domains in this release and will continue to provide regular updates on additional domains as drilling nears completion within the various areas.”

Ongoing drilling continues to intersect high-grade and bulk-tonnage style gold mineralization at the LP Fault.  New results include:

• 50.05 g/t gold over 2.30 metres from 315.80 to 318.10 metres downhole in drill hole BR-294.
• 61.20 g/t gold over 1.10 metres from 143.85 to 144,95 metres downhole in drill hole BR-311.  This occurred within a broader interval assaying 3.85 g/t gold over 32.35 metres from 118.85 to 151.20 metres downhole.
• 29.52 g/t gold over 2.50 metres from 276.55 to 279.05 metres downhole in drill hole BR-321. This occurred within a broader interval assaying 2.10 g/t gold over 49.25 metres from 254.00 to 303.25 metres downhole.

Figure 3: Map of drill progress at the LP Fault since its discovery in May 2019.  Lower image contains results from 318 drill holes.

Many of the drill holes provided in this release primarily targeted the bulk-tonnage style lower-grade envelope which occurs adjacent to, and between, the various higher-grade domains within the LP Fault.  These areas are important for future bulk tonnage gold mineral resource estimation.  Results include:

• 1.27 g/t gold over 38.25 metres from 342.00 to 380.25 metres downhole (263 metres vertical depth) in drill hole BR-288.
• 1.02 g/t gold over 30.00 metres from 220.00 to 250.00 metres downhole (183 metres vertical depth) in drill hole BR-321
• 4.19 g/t gold over 14.80 metres from 43.00 to 57.80 metres downhole (38 metres vertical depth) in drill hole BR-310.
• 1.11 g/t gold over 24.90 metres from 101.60 to 126.50 metres downhole (88 metres vertical depth) in drill hole BR-310.
• 0.65 g/t gold over 70.20 metres from 271.50 to 341.70 metres downhole (237 metres vertical depth) in drill hole BR-279.
• 0.63 g/t gold over 81.75 metres from 539.50 to 621.25 metres downhole (460 metres vertical depth) in drill hole BR-305.

Table 2: New drill results from the LP Fault arranged by drill section from southeast (Top) to northwest (Bottom).

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

About High-Grade Gold Domains AURO20 and BR1

The 17 high-grade domains are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within eight larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

Domain BR1, presented in this news release, has a surface strike length of 850 metres and has been drilled to a depth of up to 430 metres (where it remains open to extension).   BR1 is a high strain zone hosted within strongly altered (albite, biotite, +/- quartz veined) felsic volcanic rocks and occurs oblique to the dominant geological contacts.  It has an average strike orientation of 290 degrees and dips 74 degrees to the north.

Domain AURO20 links BR1 to the previously released BR7 along an orientation of 280 degrees and dips 70 degrees to the north. With a strike length of 120 metres and current vertical extent of 420 metres (also open at depth), mineralization in this domain is hosted in felsic volcanic rocks and quartz veins.

Drilling is planned to intersect the various high-grade domains at 40 – 50 metre spacing.  Drilling is nearing completion in the near-surface portions of all 17 high-grade domains along more than 4 kilometres of strike length of the central LP Fault.  This drilling is expected to be completed from surface to an average of approximately 400 metres depth by year end.

Great Bear’s progress can be followed using the Company’s plan maps, long sections and cross sections, and through the VRIFY model posted at the Company’s web site at www.greatbearresources.ca.  All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can also be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15N, NAD 83):

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.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager 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:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
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 Provides Two New Detailed High-Grade Long Sections and Reaches 318 Drill Holes Reported on Two Year Anniversary of LP Fault Discovery

 

June 3, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

This release includes two new detailed high-grade domain long sections that occur adjacent to the north of previously released domain BR7, plus drill results from 18 new LP Fault drill holes mainly targeting the peripheral bulk-tonnage domains.  318 drill holes have now been reported from the LP Fault since its discovery two years ago.

Figure 1: Upper portions of high-grade domain BR1, showing all results to date, and intersecting high-grade domain AURO20 which links BR1 to previously reported domain BR7.  The lower inset illustrates how the domains intersect in three dimensions in inclined plan view.

Table 1: All 34 drill holes that intersect the near-surface portion of high-grade domains AURO20 and BR1 along approximately 650 metres of combined strike length.  Note that assay intervals are from previously reported drill holes and have been clipped to the domains.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

Figure 2: The 17 high-grade gold domains currently being modeled within the LP Fault (bulk-tonnage mineralization not shown).

Chris Taylor, President and CEO of Great Bear said, “We are very pleased to mark the two year anniversary of the LP Fault discovery by entering the final months of near-surface maiden resource estimation drilling, with results published from 318 of approximately 400 anticipated drill holes. We also provide two additional high-grade domains in this release and will continue to provide regular updates on additional domains as drilling nears completion within the various areas.”

Ongoing drilling continues to intersect high-grade and bulk-tonnage style gold mineralization at the LP Fault.  New results include:

• 50.05 g/t gold over 2.30 metres from 315.80 to 318.10 metres downhole in drill hole BR-294.
• 61.20 g/t gold over 1.10 metres from 143.85 to 144,95 metres downhole in drill hole BR-311.  This occurred within a broader interval assaying 3.85 g/t gold over 32.35 metres from 118.85 to 151.20 metres downhole.
• 29.52 g/t gold over 2.50 metres from 276.55 to 279.05 metres downhole in drill hole BR-321. This occurred within a broader interval assaying 2.10 g/t gold over 49.25 metres from 254.00 to 303.25 metres downhole.

Figure 3: Map of drill progress at the LP Fault since its discovery in May 2019.  Lower image contains results from 318 drill holes.

Many of the drill holes provided in this release primarily targeted the bulk-tonnage style lower-grade envelope which occurs adjacent to, and between, the various higher-grade domains within the LP Fault.  These areas are important for future bulk tonnage gold mineral resource estimation.  Results include:

• 1.27 g/t gold over 38.25 metres from 342.00 to 380.25 metres downhole (263 metres vertical depth) in drill hole BR-288.
• 1.02 g/t gold over 30.00 metres from 220.00 to 250.00 metres downhole (183 metres vertical depth) in drill hole BR-321
• 4.19 g/t gold over 14.80 metres from 43.00 to 57.80 metres downhole (38 metres vertical depth) in drill hole BR-310.
• 1.11 g/t gold over 24.90 metres from 101.60 to 126.50 metres downhole (88 metres vertical depth) in drill hole BR-310.
• 0.65 g/t gold over 70.20 metres from 271.50 to 341.70 metres downhole (237 metres vertical depth) in drill hole BR-279.
• 0.63 g/t gold over 81.75 metres from 539.50 to 621.25 metres downhole (460 metres vertical depth) in drill hole BR-305.

Table 2: New drill results from the LP Fault arranged by drill section from southeast (Top) to northwest (Bottom).

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

About High-Grade Gold Domains AURO20 and BR1

The 17 high-grade domains are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within eight larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

Domain BR1, presented in this news release, has a surface strike length of 850 metres and has been drilled to a depth of up to 430 metres (where it remains open to extension).   BR1 is a high strain zone hosted within strongly altered (albite, biotite, +/- quartz veined) felsic volcanic rocks and occurs oblique to the dominant geological contacts.  It has an average strike orientation of 290 degrees and dips 74 degrees to the north.

Domain AURO20 links BR1 to the previously released BR7 along an orientation of 280 degrees and dips 70 degrees to the north. With a strike length of 120 metres and current vertical extent of 420 metres (also open at depth), mineralization in this domain is hosted in felsic volcanic rocks and quartz veins.

Drilling is planned to intersect the various high-grade domains at 40 – 50 metre spacing.  Drilling is nearing completion in the near-surface portions of all 17 high-grade domains along more than 4 kilometres of strike length of the central LP Fault.  This drilling is expected to be completed from surface to an average of approximately 400 metres depth by year end.

Great Bear’s progress can be followed using the Company’s plan maps, long sections and cross sections, and through the VRIFY model posted at the Company’s web site at www.greatbearresources.ca.  All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can also be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15N, NAD 83):

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.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager 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:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
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.

Garibaldi Mobilizes Exploration Crews

 

Vancouver, British Columbia, June 1, 2021 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce that exploration personnel have been deployed to the Company’s camp at km 45 on the Eskay Creek road. The flagship E&L nickel-copper-cobalt massive sulphide project remains the primary focus, followed by volcanogenic-massive-sulphide (VMS) precious-metal targets within the Hazelton Group. Geophysical surveys over Nickel Mountain and the VMS prospective Palm Springs claims, are now underway.

The first stage includes two specialized airborne surveys. ZTEM, a deep penetrating electro-magnetic (EM) airborne sensor to track conductive high-grade E&L intrusions. SkyTEM, designed to identify structures with prospective stratigraphy for the discovery of Eskay Creek style VMS precious-metal mineralization. Data from both surveys will be processed rapidly to aid interpretation for exploration (See news release dated May 6, 2021).

Garibaldi’s planned diamond drill program will focus on extending the E&L mineralized gabbro along trend, for new massive sulphide discoveries. Beyond Nickel Mountain, crews will sample geophysical and geochemical VMS target areas over the remainder of Garibaldi’s claims for base and precious metals. This includes alteration zones and outcrops identified by World view3 satellite remote sensing. Significant VMS targets at various stages include the following prospects:

VMS Gold Targets

• Casper, Four shallow diamond drill holes tested the quartz vein discovery in 2020, each hole intercepted gold mineralization. The polymetallic quartz vein with select channel sample assays of up to 249 g/t (8. oz) gold, is at low elevation, within 1.4 km from roads and hydroelectric facilities. The mineralized system’s strike length is over 500 meters and open along strike. (see news releases Feb.12, 2021, Nov.16, Sept.29, Sept.22, Feb 28, 2020)
• Palm Springs, Previous work has identified VMS potential at Palm Springs, where a significant portion of the claims are mapped as Eskay Creek facies. The geochemical profile includes elevated arsenic, antimony, mercury, gold, zinc and copper, with realgar and orpiment within a major quartz breccia zone. The rhyolitic volcanics appear to be underlain by black siltstones and volcanoclastics. In addition, two separate geophysical VTEM anomalies one km apart makes this area a high priority VMS exploration target.
• Triple Faults, The Harrymel-Unuk (H-U) fault is a dominant feature bisecting the Palm Springs claims. Exploration will focus along a projected 6 km wide VMS trend, extending 3km on either side of the H-U fault. A clastic sequence within 2 km of a large-scale fault is a key prospective feature observed by Kyba-Nelson of the B.C. Geological Survey in their 2015 Red-line paper on NW B.C. deposits. Coupled with new stratigraphic interpretation of the district, VMS target areas will undergo detailed evaluation programs.
• Eskay North, The claims border the historic Eskay Creek mine which is 2,500 meters southwest from Garibaldi’s claim boundary. The high-grade Eskay Creek 21 zones strike northeast towards Eskay North which is covered by the Bowser Lake Group, of unknown thickness. Garibaldi’s ZTEM survey will provide deep penetration of the Bowser and search beneath for the projected Hazelton group which hosts the mineralization at the Eskay Creek Mine. (Minfile 104 B 008 Eskay Creek)

Battery Metals & Gold

Garibaldi’s 100% owned Eskay claim Group is 180 sq. kms of highly prospective claims, resulting from the consolidation of Nickel Mountain, Palm Springs and Eskay North in 2016. The battery-metal rich E&L magmatic nickel-copper-cobalt massive sulphide discovery is a high value proposition surrounded by a multitude of base and precious-metal outcrops of nickel-copper-zinc-gold-silver and platinum group metals. The escalating global green revolution will require all these metals to feed rising demand from new battery technology for electric vehicles.

While Garibaldi’s primary focus is the foundational E&L nickel-copper-cobalt massive sulphide project, the Company’s Eskay Claim Group is centered within the Eskay gold camp, encircled by numerous recent precious metal rich discoveries by neighboring operators. Advanced structural, stratigraphic and remote sensing interpretation of Eskay district geology indicates strong potential for VMS related Eskay Creek style mineralization on Garibaldi’s Palm Springs claim block to the north of Nickel Mountain. Garibaldi’s abundant VMS precious metals potential offers an added bonus to shareholders, as rising inflation pressures gold and silver prices higher.

Steve Regoci, Garibaldi CEO, stated: “We’re anxious to receive the ZTEM and SkyTEM survey results as we prepare for drilling. Our top priority is to explore deeper and along trend at E&L, but we also have large numbers of exciting new nickel-copper and VMS gold targets to explore as well.

The growing demand for critical metal sources required to drive the new green economy, and precious metals to protect against increasing inflation, was the compelling vision for our entire pipeline of district scale projects. The advancing Eskay claim group ranks high for potential to deliver new discoveries as metal prices trend higher.”

Qualified Person

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release.

 About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

Palladium One Drills 48 Meters @ 2.2 g/t within 116 Meters @ 1.2 g/t Palladium Equivalent at Haukiaho Trend, Finland

 

June 1, 2021 – Toronto, Ontario – Final drill results from the Company’s 2,000-meter drill program at the Haukiaho Trend, a distinct zone approximately 20 kilometers south of the Company’s primary target area Kaukua South, have returned significant widths and grades, including 48 meters at 2.2 g/t Palladium-equivalent (“Pd_Eq”) with a wider 116 meters zone grading 1.2 g/t Pd_Eq (Hole LK21-074), on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

A total of 12 holes (1,943 metres) were drilled on the Haukiaho trend. This release contains the results from the final 5 holes of this program. The drilling was designed establish sufficient drill density to prepare a National Instrument 43-101 resource estimate at Haukiaho.

“The final batch of Haukiaho results is highly encouraging, not only has it filled in a key 200m gap in the historic resource drilling but also found average grades and widths above those of the historical resource estimate. These latest results also extended the core Haukiaho zone to the east and into a second large IP anomaly that was delineated in 2020. This extension indicates substantial near-term upside at Haukiaho.” Said Derrick Weyrauch, President and CEO.

Highlights

• A 200m gap in the middle of the Haukiaho historic resource has been infilled and found to contain above average grades and widths (Figure 3.)
• Holes LK21-077 and 078 located, 50 and 100 meters east of the historic resource indicate strong mineralization continues to the east in the Central Drill Target area (Figure 2.)
• 116.0 meters grading 1.20 g/t Pd_Eq in hole LK21-074 starting 99 meters down hole
  • Including 48.5 meters grading 2.15 g/t Pd_Eq
  • Including 7.3 meters grading 3.09 g/t Pd_Eq
• 70.3 meters grading 1.11 g/t Pd_Eq in hole LK21-075 starting 12 meters down hole
  • including 23.2 meters grading 1.84 g/t Pd_Eq
  • Including 4.5 meters grading 3.26 g/t Pd_Eq
• 43.0 meters grading 1.27 g/t Pd_Eq in hole LK21-077 starting 5 meters down hole
  • including 14.5 meters grading 2.01 g/t Pd_Eq
• 39.2 meters grading 1.63 g/t Pd_Eq in hole LK21-078 starting 144 meters down hole
  • including 11.6 meters grading 2.73 g/t Pd_Eq
• The historic Haukiaho resource is shallowly drilled, mostly above 200m below surface and very amendable to open pit extraction methods.

Haukiaho Historic Resource Estimate

In the 1980’s, Outokumpu (a Finnish State-run mining company) prepared a resource estimate using very widely spaced holes along much of the Haukiaho trend, which estimated 7 million tonnes grading 0.38% Cu and 0.24% Ni, however importantly, no PGE assays were undertaken. The cut-off grade used was a 0.7% Copper_equivalent (defined as Cu% + 2 x Ni%).

Subsequently, in 2013, Finore Mining Inc. completed a non-pit constrained NI43-101 historic resource estimate, over a much smaller strike length. This resource encompassed widely spaced drilling with a focus on maximizing tonnage, not grade. Using a 0.1 g/t Pd cut-off, they estimated a resource of 1.13 million Pd_Eq ounces within 23.2 million tonnes grading 1.51 g/t Pd_Eq* (0.31 g/t Pd, 0.12g/t Pt, 0.10 g/t Au, 0.21% Cu, and 0.14% Ni) (See news release August 12, 2019 and May 7, 2020). For comparison purposes using recent spot prices the historic Haukiaho resource has a Pd_Eq** grade of 0.97g/t Pd or 1.37g/t Au_Eq** grade.

The Haukiaho trend is 17 kilometers long and the historic 2013 Haukiaho resource prepared by Finore only covers less than 2 kilometers of this trend. This knowledge coupled with the historic work by Outokumpu point to the enormous potential to significantly add resources at Haukiaho with disciplined execution of exploration activities.

While similar to the Kaukua deposit (See new release, September 30, 2019), the Haukiahio trend is more copper-nickel rich. At Kaukua, approximately ~1/3 of the in-situ value per tonne is copper-nickel, while at Haukiaho copper-nickel represent approximately ~2/3s of the in-situ value.

Figure 1. LK Project location map showing 43-101 compliant Kaukua deposit and historic Haukiaho resource along with 2020 IP grids (blue lines) and current 2021 IP grid areas (black boxes). Yellow lines represent Exploration Permits, red lines represent Exploration Reservations held by the Company.

Figure 2. Plan map of Haukiaho 2020 IP chargeability anomalies, drill target areas and 2020 & 2021 DDH locations.

Figure 3. Plan map of the Haukiaho historic 2013 Finore resource estimate represented by the 0.5g/t Pd_Eq shape with Palladium One drill holes labelled.

Figure 4. Haukiaho Cross section showing holes LK21-074, and 1960’s era Outokumpu hole R614 which was incompletely sampled and was not analysed for PGEs.

Table 1: Palladium One Haukiaho drill results

* Reported widths are “drilled widths” not true widths.
**Italicised orange highlighted results are previously released results see news release September 15, 2020 and May 26, 2021.

*Palladium Equivalent
Palladium 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 for copper, and US$15,4332 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate. Additionally, US$1,100 per ounce for palladium is consistent with the UBS January 2021 long-term consensus price forecast even though the current price of palladium is approximately US$3,000 per ounce.

**Spot Palladium and Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$2,700 per ounce for palladium, US$1,200 per ounce for platinum, US$1,900 per ounce for gold, US$10,141 per tonne for copper, and US$17,857 per tonne for nickel

QA/QC
The Phase I 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 and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES 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

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Great Bear Strengthens Management Team and Provides Update on Regional Projects

 

May 31, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today announced key management appointments.  The Company concurrently announces the departures of Mr. Robert Scott, Chief Financial Officer; Mr. Jeff Dare, Corporate Secretary; and Mr. Tony Ricci, who, after serving for more than 10 years, will be retiring from the Board of Directors and is not standing for re-election at the upcoming Annual General Meeting on June 29^th.  In addition, the Company announces the acceleration of option payments on three of its regional projects, completing the required earn-ins.  All regional Red Lake area projects are now 100% owned by Great Bear.

“I would like to sincerely thank Mr. Scott, Mr. Dare, and Mr. Ricci for their significant contributions over the past number of years to Great Bear.  Each of them was instrumental to the success of the Company and I look forward to following their ongoing contributions within our industry,” said Chis Taylor, President and CEO of Great Bear.  “The management appointments we are making today significantly enhance our team’s skillset and will be key to Great Bear’s future success as we continue to advance our flagship Dixie Project.”

Management Appointments

Calum Morrison, Vice President, Business Development & Chief Financial Officer

Calum Morrison has been leading Corporate Development at Great Bear since 2019, a period in which the Company has experienced exceptional growth. In addition to his Corporate and Business Development responsibilities, Mr. Morrison has been appointed Chief Financial Officer with an effective date of May 26^th.  Mr. Morrison has over 15 years of experience in the mining industry, having worked in corporate development, investment banking, and accounting roles. Mr. Morrison is a Chartered Professional Accountant (CPA, CA), and a Chartered Financial Analyst (CFA) and holds a B.Sc. degree in Environmental Science from Dalhousie University.

Andrea Diakow, Vice President, Projects

Andrea Diakow has been a key contributor to Great Bear’s exploration success at the Dixie Project since 2017.  Ms. Diakow is a professional geologist with over 15 years of experience working in the mineral exploration industry on diverse precious and base metal projects ranging from grassroots to feasibility stage. Her experience includes over 6 years of gold exploration in the Red Lake district.  Employing her strong technical background and diverse experience, Mrs. Diakow manages Great Bear’s exploration program, including QA/QC practices, and directs the various advanced exploration studies that are currently being undertaken at Dixie.  Ms. Diakow holds a B.Sc. degree in Geology from the University of Calgary and is a P.Geo.

Jenni Piette, Director, Sustainability and Stakeholder Relations

Jenni Piette has over 10 years of experience in mining investor relations and corporate communications. Most recently, Ms. Piette served as Head of Investor Relations at GT Gold, where she managed the investor relations strategy in addition to community and stakeholder consultation.  Prior to joining GT Gold, she served as Manager of Investor Relations at Teranga Gold Corporation through 2018 and at Richmont Mines, until the sale of the company to Alamos Gold in November 2017.  Ms. Piette began her career in investor relations at Detour Gold Corporation in 2012, prior to which she served as a contracted mining and earth science outreach educator for PDAC Mining Matters.  Ms. Piette holds a B.Sc. with Distinction in Geology/Ecology from Concordia University and is a Certified Professional in Investor Relations under CIRI/Ivey School of Business.

Darryl Boyd, Director, Environment

Darryl Boyd has been employed in the mining sector for 24 years, holding roles related to planning, permitting, and developing projects in Ontario from early exploration to commercial production.  Mr. Boyd has managed baseline studies, engineering designs, permitting, community engagement, energy supply, land tenure and a variety of operational duties related to environmental management.  Examples of his significant project experience includes: The McCreedy Mine (FNX Mining), Timmins West (Lakeshore Gold), Lac Des Iles Mine (North American Palladium), Lockerby Mine (First Nickel), and the Sugar Zone Mine (Harte Gold).  Mr. Boyd holds a B.Sc. degree in Environmental Science from the University of Guelph and a Certificate in Environmental Assessment from Lakehead University.

Cori Compton, Corporate Secretary

Ms. Compton has over 20 years of corporate secretarial, corporate governance and securities regulatory experience, 10 of which are specifically with public companies in the mining industry.  Ms. Compton has performed the Corporate Secretary function for a number of publicly listed companies, including Pan American Silver, Silver Standard Resources (now SSR Mining), Wildcat Silver (predecessor to Arizona Mining), and Ventana Gold Corp.  Ms. Compton is a member of both the BC Paralegal Association and the Canadian Society of Corporate Secretaries.

Update on Regional Properties

The Company is also pleased to announce that it recently paid an aggregate of $180,000 to accelerate its earn-ins for its regional Red Lake projects (Pakwash, Sobel, and Red Lake North), and also gave notice of its intention to terminate its option on the Dedee Property.

Great Bear now holds a 100% interest in it’s Red Lake Properties (Dixie, Pakwash, Sobel and Red Lake North), totalling 200 km² of prospective mineral claims.  At this time, there are no changes to the previously announced 2021 exploration budget, which is majority focused on a multi-rig drill program at its flagship Dixie Project, but also includes field investigations and target definition at all regional properties.

June 7^th Webinar

The Company reminds interested shareholders that a webinar will take place on Monday, June 7^th at 11:00 am PDT / 2:00 pm EDT. Management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link:

https://us02web.zoom.us/webinar/register/WN_MJNWX5GERvKjZ63Jh89n_Q

For those unable to participate, a recording of the webinar will be posted to the Company’s web site following the live broadcast.

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 four projects: the flagship Dixie Project (100% owned), the Pakwash Property (100% owned), the, the Sobel Property (100% owned), and the Red Lake North Property (100% owned) all of which are accessible year-round through existing roads.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
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 Strengthens Management Team and Provides Update on Regional Projects

 

May 31, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today announced key management appointments.  The Company concurrently announces the departures of Mr. Robert Scott, Chief Financial Officer; Mr. Jeff Dare, Corporate Secretary; and Mr. Tony Ricci, who, after serving for more than 10 years, will be retiring from the Board of Directors and is not standing for re-election at the upcoming Annual General Meeting on June 29^th.  In addition, the Company announces the acceleration of option payments on three of its regional projects, completing the required earn-ins.  All regional Red Lake area projects are now 100% owned by Great Bear.

“I would like to sincerely thank Mr. Scott, Mr. Dare, and Mr. Ricci for their significant contributions over the past number of years to Great Bear.  Each of them was instrumental to the success of the Company and I look forward to following their ongoing contributions within our industry,” said Chis Taylor, President and CEO of Great Bear.  “The management appointments we are making today significantly enhance our team’s skillset and will be key to Great Bear’s future success as we continue to advance our flagship Dixie Project.”

Management Appointments

Calum Morrison, Vice President, Business Development & Chief Financial Officer

Calum Morrison has been leading Corporate Development at Great Bear since 2019, a period in which the Company has experienced exceptional growth. In addition to his Corporate and Business Development responsibilities, Mr. Morrison has been appointed Chief Financial Officer with an effective date of May 26^th.  Mr. Morrison has over 15 years of experience in the mining industry, having worked in corporate development, investment banking, and accounting roles. Mr. Morrison is a Chartered Professional Accountant (CPA, CA), and a Chartered Financial Analyst (CFA) and holds a B.Sc. degree in Environmental Science from Dalhousie University.

Andrea Diakow, Vice President, Projects

Andrea Diakow has been a key contributor to Great Bear’s exploration success at the Dixie Project since 2017.  Ms. Diakow is a professional geologist with over 15 years of experience working in the mineral exploration industry on diverse precious and base metal projects ranging from grassroots to feasibility stage. Her experience includes over 6 years of gold exploration in the Red Lake district.  Employing her strong technical background and diverse experience, Mrs. Diakow manages Great Bear’s exploration program, including QA/QC practices, and directs the various advanced exploration studies that are currently being undertaken at Dixie.  Ms. Diakow holds a B.Sc. degree in Geology from the University of Calgary and is a P.Geo.

Jenni Piette, Director, Sustainability and Stakeholder Relations

Jenni Piette has over 10 years of experience in mining investor relations and corporate communications. Most recently, Ms. Piette served as Head of Investor Relations at GT Gold, where she managed the investor relations strategy in addition to community and stakeholder consultation.  Prior to joining GT Gold, she served as Manager of Investor Relations at Teranga Gold Corporation through 2018 and at Richmont Mines, until the sale of the company to Alamos Gold in November 2017.  Ms. Piette began her career in investor relations at Detour Gold Corporation in 2012, prior to which she served as a contracted mining and earth science outreach educator for PDAC Mining Matters.  Ms. Piette holds a B.Sc. with Distinction in Geology/Ecology from Concordia University and is a Certified Professional in Investor Relations under CIRI/Ivey School of Business.

Darryl Boyd, Director, Environment

Darryl Boyd has been employed in the mining sector for 24 years, holding roles related to planning, permitting, and developing projects in Ontario from early exploration to commercial production.  Mr. Boyd has managed baseline studies, engineering designs, permitting, community engagement, energy supply, land tenure and a variety of operational duties related to environmental management.  Examples of his significant project experience includes: The McCreedy Mine (FNX Mining), Timmins West (Lakeshore Gold), Lac Des Iles Mine (North American Palladium), Lockerby Mine (First Nickel), and the Sugar Zone Mine (Harte Gold).  Mr. Boyd holds a B.Sc. degree in Environmental Science from the University of Guelph and a Certificate in Environmental Assessment from Lakehead University.

Cori Compton, Corporate Secretary

Ms. Compton has over 20 years of corporate secretarial, corporate governance and securities regulatory experience, 10 of which are specifically with public companies in the mining industry.  Ms. Compton has performed the Corporate Secretary function for a number of publicly listed companies, including Pan American Silver, Silver Standard Resources (now SSR Mining), Wildcat Silver (predecessor to Arizona Mining), and Ventana Gold Corp.  Ms. Compton is a member of both the BC Paralegal Association and the Canadian Society of Corporate Secretaries.

Update on Regional Properties

The Company is also pleased to announce that it recently paid an aggregate of $180,000 to accelerate its earn-ins for its regional Red Lake projects (Pakwash, Sobel, and Red Lake North), and also gave notice of its intention to terminate its option on the Dedee Property.

Great Bear now holds a 100% interest in it’s Red Lake Properties (Dixie, Pakwash, Sobel and Red Lake North), totalling 200 km² of prospective mineral claims.  At this time, there are no changes to the previously announced 2021 exploration budget, which is majority focused on a multi-rig drill program at its flagship Dixie Project, but also includes field investigations and target definition at all regional properties.

June 7^th Webinar

The Company reminds interested shareholders that a webinar will take place on Monday, June 7^th at 11:00 am PDT / 2:00 pm EDT. Management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link:

https://us02web.zoom.us/webinar/register/WN_MJNWX5GERvKjZ63Jh89n_Q

For those unable to participate, a recording of the webinar will be posted to the Company’s web site following the live broadcast.

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 four projects: the flagship Dixie Project (100% owned), the Pakwash Property (100% owned), the, the Sobel Property (100% owned), and the Red Lake North Property (100% owned) all of which are accessible year-round through existing roads.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
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.

Palladium One Drills 48 Meters @ 2.2 g/t within 116 Meters @ 1.2 g/t Palladium Equivalent at Haukiaho Trend, Finland

 

June 1, 2021 – Toronto, Ontario – Final drill results from the Company’s 2,000-meter drill program at the Haukiaho Trend, a distinct zone approximately 20 kilometers south of the Company’s primary target area Kaukua South, have returned significant widths and grades, including 48 meters at 2.2 g/t Palladium-equivalent (“Pd_Eq”) with a wider 116 meters zone grading 1.2 g/t Pd_Eq (Hole LK21-074), on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

A total of 12 holes (1,943 metres) were drilled on the Haukiaho trend. This release contains the results from the final 5 holes of this program. The drilling was designed establish sufficient drill density to prepare a National Instrument 43-101 resource estimate at Haukiaho.

“The final batch of Haukiaho results is highly encouraging, not only has it filled in a key 200m gap in the historic resource drilling but also found average grades and widths above those of the historical resource estimate. These latest results also extended the core Haukiaho zone to the east and into a second large IP anomaly that was delineated in 2020. This extension indicates substantial near-term upside at Haukiaho.” Said Derrick Weyrauch, President and CEO.

Highlights

• A 200m gap in the middle of the Haukiaho historic resource has been infilled and found to contain above average grades and widths (Figure 3.)
• Holes LK21-077 and 078 located, 50 and 100 meters east of the historic resource indicate strong mineralization continues to the east in the Central Drill Target area (Figure 2.)
• 116.0 meters grading 1.20 g/t Pd_Eq in hole LK21-074 starting 99 meters down hole
  • Including 48.5 meters grading 2.15 g/t Pd_Eq
  • Including 7.3 meters grading 3.09 g/t Pd_Eq
• 70.3 meters grading 1.11 g/t Pd_Eq in hole LK21-075 starting 12 meters down hole
  • including 23.2 meters grading 1.84 g/t Pd_Eq
  • Including 4.5 meters grading 3.26 g/t Pd_Eq
• 43.0 meters grading 1.27 g/t Pd_Eq in hole LK21-077 starting 5 meters down hole
  • including 14.5 meters grading 2.01 g/t Pd_Eq
• 39.2 meters grading 1.63 g/t Pd_Eq in hole LK21-078 starting 144 meters down hole
  • including 11.6 meters grading 2.73 g/t Pd_Eq
• The historic Haukiaho resource is shallowly drilled, mostly above 200m below surface and very amendable to open pit extraction methods.

Haukiaho Historic Resource Estimate

In the 1980’s, Outokumpu (a Finnish State-run mining company) prepared a resource estimate using very widely spaced holes along much of the Haukiaho trend, which estimated 7 million tonnes grading 0.38% Cu and 0.24% Ni, however importantly, no PGE assays were undertaken. The cut-off grade used was a 0.7% Copper_equivalent (defined as Cu% + 2 x Ni%).

Subsequently, in 2013, Finore Mining Inc. completed a non-pit constrained NI43-101 historic resource estimate, over a much smaller strike length. This resource encompassed widely spaced drilling with a focus on maximizing tonnage, not grade. Using a 0.1 g/t Pd cut-off, they estimated a resource of 1.13 million Pd_Eq ounces within 23.2 million tonnes grading 1.51 g/t Pd_Eq* (0.31 g/t Pd, 0.12g/t Pt, 0.10 g/t Au, 0.21% Cu, and 0.14% Ni) (See news release August 12, 2019 and May 7, 2020). For comparison purposes using recent spot prices the historic Haukiaho resource has a Pd_Eq** grade of 0.97g/t Pd or 1.37g/t Au_Eq** grade.

The Haukiaho trend is 17 kilometers long and the historic 2013 Haukiaho resource prepared by Finore only covers less than 2 kilometers of this trend. This knowledge coupled with the historic work by Outokumpu point to the enormous potential to significantly add resources at Haukiaho with disciplined execution of exploration activities.

While similar to the Kaukua deposit (See new release, September 30, 2019), the Haukiahio trend is more copper-nickel rich. At Kaukua, approximately ~1/3 of the in-situ value per tonne is copper-nickel, while at Haukiaho copper-nickel represent approximately ~2/3s of the in-situ value.

Figure 1. LK Project location map showing 43-101 compliant Kaukua deposit and historic Haukiaho resource along with 2020 IP grids (blue lines) and current 2021 IP grid areas (black boxes). Yellow lines represent Exploration Permits, red lines represent Exploration Reservations held by the Company.

Figure 2. Plan map of Haukiaho 2020 IP chargeability anomalies, drill target areas and 2020 & 2021 DDH locations.

Figure 3. Plan map of the Haukiaho historic 2013 Finore resource estimate represented by the 0.5g/t Pd_Eq shape with Palladium One drill holes labelled.

Figure 4. Haukiaho Cross section showing holes LK21-074, and 1960’s era Outokumpu hole R614 which was incompletely sampled and was not analysed for PGEs.

Table 1: Palladium One Haukiaho drill results

* Reported widths are “drilled widths” not true widths.
**Italicised orange highlighted results are previously released results see news release September 15, 2020 and May 26, 2021.

*Palladium Equivalent
Palladium 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 for copper, and US$15,4332 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate. Additionally, US$1,100 per ounce for palladium is consistent with the UBS January 2021 long-term consensus price forecast even though the current price of palladium is approximately US$3,000 per ounce.

**Spot Palladium and Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$2,700 per ounce for palladium, US$1,200 per ounce for platinum, US$1,900 per ounce for gold, US$10,141 per tonne for copper, and US$17,857 per tonne for nickel

QA/QC
The Phase I 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 and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES 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

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 includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Garibaldi Mobilizes Exploration Crews

 

Vancouver, British Columbia, June 1, 2021 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce that exploration personnel have been deployed to the Company’s camp at km 45 on the Eskay Creek road. The flagship E&L nickel-copper-cobalt massive sulphide project remains the primary focus, followed by volcanogenic-massive-sulphide (VMS) precious-metal targets within the Hazelton Group. Geophysical surveys over Nickel Mountain and the VMS prospective Palm Springs claims, are now underway.

The first stage includes two specialized airborne surveys. ZTEM, a deep penetrating electro-magnetic (EM) airborne sensor to track conductive high-grade E&L intrusions. SkyTEM, designed to identify structures with prospective stratigraphy for the discovery of Eskay Creek style VMS precious-metal mineralization. Data from both surveys will be processed rapidly to aid interpretation for exploration (See news release dated May 6, 2021).

Garibaldi’s planned diamond drill program will focus on extending the E&L mineralized gabbro along trend, for new massive sulphide discoveries. Beyond Nickel Mountain, crews will sample geophysical and geochemical VMS target areas over the remainder of Garibaldi’s claims for base and precious metals. This includes alteration zones and outcrops identified by World view3 satellite remote sensing. Significant VMS targets at various stages include the following prospects:

VMS Gold Targets

• Casper, Four shallow diamond drill holes tested the quartz vein discovery in 2020, each hole intercepted gold mineralization. The polymetallic quartz vein with select channel sample assays of up to 249 g/t (8. oz) gold, is at low elevation, within 1.4 km from roads and hydroelectric facilities. The mineralized system’s strike length is over 500 meters and open along strike. (see news releases Feb.12, 2021, Nov.16, Sept.29, Sept.22, Feb 28, 2020)
• Palm Springs, Previous work has identified VMS potential at Palm Springs, where a significant portion of the claims are mapped as Eskay Creek facies. The geochemical profile includes elevated arsenic, antimony, mercury, gold, zinc and copper, with realgar and orpiment within a major quartz breccia zone. The rhyolitic volcanics appear to be underlain by black siltstones and volcanoclastics. In addition, two separate geophysical VTEM anomalies one km apart makes this area a high priority VMS exploration target.
• Triple Faults, The Harrymel-Unuk (H-U) fault is a dominant feature bisecting the Palm Springs claims. Exploration will focus along a projected 6 km wide VMS trend, extending 3km on either side of the H-U fault. A clastic sequence within 2 km of a large-scale fault is a key prospective feature observed by Kyba-Nelson of the B.C. Geological Survey in their 2015 Red-line paper on NW B.C. deposits. Coupled with new stratigraphic interpretation of the district, VMS target areas will undergo detailed evaluation programs.
• Eskay North, The claims border the historic Eskay Creek mine which is 2,500 meters southwest from Garibaldi’s claim boundary. The high-grade Eskay Creek 21 zones strike northeast towards Eskay North which is covered by the Bowser Lake Group, of unknown thickness. Garibaldi’s ZTEM survey will provide deep penetration of the Bowser and search beneath for the projected Hazelton group which hosts the mineralization at the Eskay Creek Mine. (Minfile 104 B 008 Eskay Creek)

Battery Metals & Gold

Garibaldi’s 100% owned Eskay claim Group is 180 sq. kms of highly prospective claims, resulting from the consolidation of Nickel Mountain, Palm Springs and Eskay North in 2016. The battery-metal rich E&L magmatic nickel-copper-cobalt massive sulphide discovery is a high value proposition surrounded by a multitude of base and precious-metal outcrops of nickel-copper-zinc-gold-silver and platinum group metals. The escalating global green revolution will require all these metals to feed rising demand from new battery technology for electric vehicles.

While Garibaldi’s primary focus is the foundational E&L nickel-copper-cobalt massive sulphide project, the Company’s Eskay Claim Group is centered within the Eskay gold camp, encircled by numerous recent precious metal rich discoveries by neighboring operators. Advanced structural, stratigraphic and remote sensing interpretation of Eskay district geology indicates strong potential for VMS related Eskay Creek style mineralization on Garibaldi’s Palm Springs claim block to the north of Nickel Mountain. Garibaldi’s abundant VMS precious metals potential offers an added bonus to shareholders, as rising inflation pressures gold and silver prices higher.

Steve Regoci, Garibaldi CEO, stated: “We’re anxious to receive the ZTEM and SkyTEM survey results as we prepare for drilling. Our top priority is to explore deeper and along trend at E&L, but we also have large numbers of exciting new nickel-copper and VMS gold targets to explore as well.

The growing demand for critical metal sources required to drive the new green economy, and precious metals to protect against increasing inflation, was the compelling vision for our entire pipeline of district scale projects. The advancing Eskay claim group ranks high for potential to deliver new discoveries as metal prices trend higher.”

Qualified Person

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release.

 About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

Ford’s Announcement is Another Reason for Copper Investors to Smile

 

Ford Motor is gaining on Tesla in the hearts of EV and ESG investors. The company gave both fans and investors in the growth of electric vehicle technology, along with those supporting green energy acceptance, a reason to cheer this week. The iconic company, known for its contribution to manufacturing technology one hundred years ago (1928), which made automobiles available to average families, may again make history by ushering in an era where electric Mustangs, Explorers, and even Broncos are within the price range of the American middle class.  An announcement by Ford on May 26 committed the company to spend $30 billion on electric vehicle manufacturing by 2025 and for 40 percent of its global fleet to be all-electric by 2030.

The EV movement had already shifted into high gear before the announcement. And, with the strongest economies of the world now aligned in supporting carbon reduction policies, ie: electrification, a revolution has begun. As with other dramatic historical shifts in technology, investing in the components or industries that produce the goods to make the components is an ordinarily lower risk than betting on any one car company (final product).

 

Copper Components

EV growth has brought a focus on demand for the elements used to produce batteries, such as lithium and cobalt. The focus should also be on how the onslaught of demand for copper will be filled.  There are many competing tech revolutions increasing the demand for the metal. New needs for copper are coming from the growth of solar and wind energy, along with EVs and EV charging stations. As it relates to just cars, here’s how just one car changes demand. An average gasoline-powered car uses about 44lbs of copper, mainly as wiring. A hybrid car uses about 88lbs, and a fully electric car uses roughly 176lbs of the metal. As part of the increased demand, add about 45lbs for each charging point.

In all, 5 times more copper than a conventional gas-powered car is needed. Copper has the best conductivity of any non-precious metal and is being called upon to electrify the green renewable energy revolution

 

How to Get Copper Exposure with Stocks

When the price of copper rises, copper mining companies benefit from production without increasing their costs. This makes buying miners a strategy worth considering. Yesterday Noble Capital Markets released a research note on Chakana Copper Corp. (CHKKF) and (PERU:CA). The report includes the latest company results, the analyst’s views, and price targets. Also available on Channelchek related to CHKKF is the average daily volume of shares traded which is important to gauge liquidity.  Up to the minute, data can also be found on Channelchek for other copper mining companies.  The domestic miner Nevada Copper Corp. (NEVDF) is a U.S.-based mining company currently trading at $0.21 which is in the lower quartile of its 52-week trading range. Western Copper & Gold Corp (WRN) is a Canada-based exploration-stage company. Its engaged in the acquisition, exploration, and future development of resource properties. WRN is currently trading near the top of its 52-week range at $2.61.

Other copper mining candidates can be found at Channelchek.com under the “Company Data” section.

 

Take-Away

There’s a revolution going on with a move toward putting more electric cars on the road. Although Tesla tends to grab the spotlight, there are many other new car companies that are involved.  Meanwhile, traditional auto manufacturers all have goals to increase their EV offerings. Coupled with what is going on in wind and solar, which also increases demand for copper, investors may want to look toward investing in what now appears inevitable.

 

Your Personal Data is the Currency of the Digital Age	Repurposing Power Plants for Crypto Mining

Chakana Copper C-Suite Interview	Palladium One Mining C-Suite Interview

 

Sources:

https://tradingeconomics.com/commodity/copper

https://www.barrons.com/articles/ford-motor-stock-ev-spending-investor-day-51622041264

Thursday, May 27, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Haukiaho Drill Results Highlight Significant Potential to Expand Resources

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.

Haukiaho drill results. Palladium One released results for 7 of 12 holes drilled at the Haukiaho Trend roughly 20 kilometers south of Kaukua South. Results returned significant widths and grades, including 72.2 meters at 1.79 grams of palladium equivalent per tonne, and expanded mineralization to the east of and higher grade areas within the known historic Haukiaho resource area.


Haukiaho technical report expected in the third quarter.  The drill program was intended to provide sufficient drill density to prepare a NI 43-101 resource estimate for Haukiaho which management anticipates completing in the third quarter of 2021. In 2013, Finore Mining Inc. completed a non-pit constrained NI 43-101 historic resource with 23.2 million tonnes of ore with an average grade of 1.51 …

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.